5125 Broadway St

Coatesville, IN 46121

$50,000B-

2 bd · 1.0 ba · 1,056 sqft · Built 1970 · SingleFamily · Active · 23 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,500/mo
• Mortgage (P&I): −$262
• Tax + insurance: −$73
• HOA: −$0
• Vac / Maint / Mgmt: −$315
• Net cashflow: $850/mo
• Annual: $10,198/yr
• Cap rate: 26.69%
• Cash-on-cash: 72.84%
• DSCR: 4.24
• 1% rule: 3.00%
• Cash to close: $14,000

Investor read

• This is a 2-bed/1.0-bath single-family listed at $50k.
• At list price, monthly cash flow is $850 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $50k).
• It's been on market 23 days — a 2% lower offer ($49k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $49k (1.5% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $346 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Location reads 56/100 on livability (#621 in IN) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+; Watch: employment D, schools F, amenities F.
• Mill Creek Community School Corporation (rural): math 47% / reading 54% proficiency, ranked #43 of 301 in IN (top 14%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 74 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 1,294 units permitted in Hendricks County in 2024 (18 in 5+ unit buildings).
• Hendricks County population projected at +35% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $14k cash investment doubles in ~2 years — after that, you're playing with house money.

Questions for listing agent

• Built in 1970 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
• What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
• What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
• How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.