6450 N State 545 Rd

Dubois, IN 47527

$249,700D

3 bd · 2.0 ba · 1,524 sqft · Built 1969 · SingleFamily · Active · 62 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,224/mo
• Mortgage (P&I): −$1,309
• Tax + insurance: −$201
• HOA: −$0
• Vac / Maint / Mgmt: −$257
• Net cashflow: $-543/mo
• Annual: $-6,517/yr
• Cap rate: 3.68%
• Cash-on-cash: -9.32%
• DSCR: 0.59
• 1% rule: 0.49%
• Cash to close: $69,916

Investor read

• This is a 3-bed/2.0-bath single-family listed at $250k.
• At list price, monthly cash flow is $-543 ($-7k/yr) — negative.
• To cash-flow at today's rent, offer at most $154k (38.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $122k (51.0% below list).
• It's been on market 62 days — a 6% lower offer ($235k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $122k (51.0% below list) — sets the bar for 1% rule.
• In year one you build about $22k of equity ($2k loan paydown + $20k appreciation (8.0% local appreciation)).
• Location reads 55/100 on livability (#633 in IN) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, crime A; Watch: health & safety C-, amenities F, commute F.
• Northeast Dubois County School Corporation (rural): math 56% / reading 48% proficiency, ranked #40 of 301 in IN (top 13%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 17% free/reduced lunch — higher-income household profile.
• Zoned schools: Northeast Dubois Elementary School (235 students, 29% FRL); Northeast Dubois Intermediate School (math 62% / reading 42%, grade C-, #237 of 994 statewide, top 26%, 231 students, 28% FRL); Northeast Dubois Jr/Sr High School (math 47% / reading 57%, grade D+, #106 of 369 statewide, top 31%, 368 students, 25% FRL).
• Market conditions: 14 active listings in the ZIP; 197 units permitted in Dubois County in 2024 (20 in 5+ unit buildings).
• Dubois County population projected to shrink 5% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• 2 sale attempts since 6y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $200k; 25% above their basis — modest negotiation headroom, anchor on the comps not their cost.
• By year 2, paydown + projected appreciation supports a ~$35k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
• It's been on market 62 days. Have you received any prior offers? Is the seller open to a 51% concession, seller financing, or rate buy-down credit?
• Built in 1969 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
• 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.