20670 SR 145 Rd

St. Meinrad, IN 47515

$67,300B+

3 bd · 1.0 ba · 2,084 sqft · Built 1900 · SingleFamily · Active · 18 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,286/mo
• Mortgage (P&I): −$353
• Tax + insurance: −$45
• HOA: −$0
• Vac / Maint / Mgmt: −$270
• Net cashflow: $617/mo
• Annual: $7,406/yr
• Cap rate: 17.30%
• Cash-on-cash: 39.30%
• DSCR: 2.75
• 1% rule: 1.91%
• Cash to close: $18,844

Investor read

• This is a 3-bed/1.0-bath single-family listed at $67k.
• At list price, monthly cash flow is $617 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $67k).
• It's been on market 18 days — a 2% lower offer ($66k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $66k (1.5% below list) — sets the bar for market timing.
• In year one you build about $2k of equity ($465 loan paydown + $2k appreciation (2.8% local appreciation)).
• Location reads: area grade B — affects rentability + tenant quality, not the cash-flow math above.
• Perry Central Community Schools Corporation (rural): math 44% / reading 54% proficiency, ranked #62 of 301 in IN (top 21%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Perry Central Elementary School (math 45% / reading 51%, grade D, #314 of 994 statewide, top 32%, 703 students, 43% FRL); Perry Central Jr-Sr High School (math 43% / reading 58%, grade D+, #117 of 369 statewide, top 32%, 582 students, 41% FRL).
• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 3 active listings in the ZIP; 31 units permitted in Perry County in 2024 (0 in 5+ unit buildings).
• Perry County population projected to shrink 9% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• 3 sale attempts since 8y 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.
• At projected returns (2.8% appreciation + 3.0% rent growth), your $19k cash investment doubles in ~2 years — after that, you're playing with house money.
• Climate carrying-cost: extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• Built in 1900 — 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.
• 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.