187 S Marion St · Holton, IN 47023

$79,900

4 bd · 1.0 ba · 1,984 sqft · SingleFamily public records · 111 Days on market

Built 1905 1.12 ac lot

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Why this score? — see what drove the B+ grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +8.4/10.0
• ARV discount +7.5/15.0
• Schools +4.0/10.0
• Livability +2.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Investment opportunity!!!! 3/4 bedroom 1 bath home located on dead end street. Home is located on a little over 1 acre. Home is being sold as is.

Key facts

• Workshop space
• 1 acre lot
• 1.12 acre lot

Tags

• 1 ACRE LOT
• MULTIPLE OUTBUILDINGS
• WORKSHOP SPACE

Property features AI

Exterior

• Parking: Gravel parking
• Utilities: Public water; Public sewer
• Home design: Single-family residence; One and one-half level; 1 story
• Construction: Vinyl siding; Shingle roof
• Exterior features: Level lot; Shed(s) on property

Interior

• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating; Window unit air conditioning
• Interior features: Electric water heater; 7 total rooms

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $80k.

Deal economics

• At list price, monthly cash flow is $552 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $80k).
• Recommended offer: $73k (9.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 57/100 on livability (#604 in IN) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing B+; Watch: crime D, health & safety D, amenities F.
• South Ripley Community School Corporation (rural): math 43% / reading 52% proficiency, ranked #80 of 301 in IN (top 27%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: South Ripley Elementary School (math 49% / reading 48%, grade D, #304 of 994 statewide, top 31%, 563 students, 56% FRL); South Ripley High School (math 27% / reading 67%, grade D-, #143 of 369 statewide, top 44%, 350 students, 57% FRL).
• Market conditions: 7 active listings in the ZIP; 110 units permitted in Ripley County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $6k of equity ($552 loan paydown + $5k appreciation (6.8% local appreciation)).
• Ripley County population projected at -10% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (6.8% appreciation + 3.0% rent growth), your $22k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 6, paydown + projected appreciation supports a ~$33k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 111 days — a 9% lower offer ($73k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 8y ago; this cycle's ask has dropped $5k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $50k; list at $80k implies a 60% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1905 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $72,709 (9.0% below list)

Questions for the listing agent

1. It's been on market 111 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1905 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
7. 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.
8. 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.
9. 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.

Investment metrics

• 1% rule: 1.75% ✓
• Cap rate: 14.59%
• Cash-on-cash: 29.62%
• DSCR: 2.32
• GRM: 4.8

CMA / ARV

• ARV (on-the-fly): $47,616
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
7055 Palmer St	0.17mi	3/1.0 (-1)	2,176 (+10%)	20mo	$53,000	$24	54

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

6.85% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 41.9%
• Equity multiple: 3.79×
• Total profit: $62,342
• Equity at exit: $54,573

10-year hold

• IRR: 38.3%
• Equity multiple: 7.93×
• Total profit: $155,017
• Equity at exit: $102,952

Cash invested: $22,372 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 90 Strongly Landlord-Friendly
• State Indiana: 90 Strongly Landlord-Friendly · R+11
• County: — inherits STATE
• City: — inherits STATE

10-day pay-or-quit; landlord-favorable; preempted.

Methodology + full state rankings →

ZIP-level market 47023

• Home prices YoY: 3.5%
• Active inventory: 7
• Price-to-rent: 4.8×

Monthly cashflow live

• Estimated rent: $1,397 medium
• Mortgage (P&I): −$419
• Tax from tax record: −$99 /mo · $1,190/yr
• Insurance: −$33
• HOA: −$0
• Vacancy / Maint / Mgmt: −$293
• Net cashflow: $552

Break-even live

Break-even rent $698

Max offer price $79,900

Occupancy floor 55%

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $19,975
• Closing costs: $2,397
• Reserves months: —
• Total cash needed: —

Listing history 22 events

1. 2026-06-17
   status $79,900 Pending 111 DOM
2. 2026-06-16
   days on market $79,900 Active 111 DOM
3. 2026-06-15
   days on market $79,900 Active 110 DOM
4. 2026-06-13
   days on market $79,900 Active 108 DOM
5. 2026-06-12
   days on market $79,900 Active 107 DOM
6. 2026-06-09
   days on market $79,900 Active 104 DOM
7. 2026-06-08
   days on market $79,900 Active 103 DOM
8. 2026-06-07
   days on market $79,900 Active 102 DOM
9. 2026-06-07
   days on market $79,900 Active 101 DOM
10. 2026-06-04
    days on market $79,900 Active 98 DOM
11. 2026-06-02
    days on market $79,900 Active 97 DOM
12. 2026-06-01
    days on market $79,900 Active 96 DOM
13. 2026-05-31
    days on market $79,900 Active 95 DOM
14. 2026-05-31
    days on market $79,900 Active 94 DOM
15. 2026-05-16
    price $79,900
16. 2026-04-17
    price $82,000
17. 2026-03-28
    status Active
18. 2026-03-21
    status Pending
19. 2026-02-17
    listed $85,000 Active
20. 2021-03-09
    soldstatus $50,000 145-char remark

    Show marketing remark (145 chars)

    Investment opportunity!!!! 3/4 bedroom 1 bath home located on dead end street. Home is located on a little over 1 acre. Home is being sold as is.

21. 2020-12-15
    listed $59,900 145-char remark

    Show marketing remark (145 chars)

    Investment opportunity!!!! 3/4 bedroom 1 bath home located on dead end street. Home is located on a little over 1 acre. Home is being sold as is.

22. 2018-12-22
    listed $78,000

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast IN · Partial reset (capped growth)

• Current annual tax: $1,190 · $99/mo
• Projected year-2 tax: $1,190 · $99/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 4/10 Moderate 7 d/yr ≥102°F today · 19 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $16,764
• − Mortgage interest: −$4,476
• − Property taxes: −$1,190
• − Insurance: −$400
• − Repairs & maintenance: −$1,341
• − Management: −$1,341
• − Depreciation: −$2,324
• Taxable income: $5,692
• Est. tax owed @ 24.0%: −$1,366
• After-tax cash flow: $5,260/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: South Ripley Community School Corporation
• NCES district ID: 1810530
• Math proficiency: 43% ▼ -8.00%
• Reading proficiency: 52% ▼ -10.00%
• Median HH income: $46,653
• Composite: 40.36/100
• National rank: #3740
• State rank: #80 of 301 in IN

Livability — Holton

• Score: 57/100
• State rank: #604
• US rank: #21728

Category grades

Amenities F Commute F Cost of living A+ Crime D Employment C+ Housing B+ Health & safety D User ratings A

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Holton, IN
• City population: 2,076
• Population (ZIP): 2,076

Population outlook (Ripley County) Hauer SSP2

• Today (2025): 28,713 people
• By 2030: 28,400 · -1.1%
• By 2040: 27,288 · -5.0%
• By 2050: 25,691 · -10.5%
• By 2075: 22,222 · -22.6%
• By 2100: 17,965 · -37.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (94%)
• Race & ethnicity: White 94% Two or more races 4% Asian 1%
• Common ancestry: Italian 13% Serbian 2% Lithuanian 1%
• Foreign-born: 1%
• Languages at home: 97% English-only · Tagalog/Filipino 1% Spanish 1% German/W. Germanic 1%

Political lean MEDSL · Ripley

• 2024 margin: Solid R (+61.5) · D 18.6% · R 80.1% · Other 1.2%
• 2008→2024 swing: -31.9pp toward R · 2008: -29.6pp · 2024: -61.5pp
• All cycles: 2024: R+61.5 2020: R+59.5 2016: R+57.4 2012: R+38.6 2008: R+29.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 6.85%
• Current HPI: 201.6231
• Rent YoY: —
• Metro: —
• State GDP YoY: ▲ 2.90%
• F500 in state: 18

Industry mix (Fortune 500 HQ in IN)

Industry	F500 HQs	Revenue
▸Industrial Machinery	2	$37B
▸Healthcare	1	$177B
▸Pharmaceuticals	1	$45B
▸Metals / Steel	1	$18B
▸Agriculture	1	$17B
▸Packaging	1	$12B

Price history

+2.4% since first listed

8 events — show timeline

• 2026-05-16 Price Changed $79,900 SEIBR
• 2026-04-17 Price Changed $82,000 SEIBR
• 2026-03-28 Relisted — SEIBR
• 2026-03-21 Pending — SEIBR
• 2026-02-17 Listed $85,000 SEIBR
• 2021-03-09 Sold (MLS) $50,000 SEIBR
• 2020-12-15 Listed $59,900 SEIBR
• 2018-12-22 Listed $78,000 SEIBR

Property tax history

-0.1%/yr

Latest (2024): $1,190 · -9.6% YoY. Source: county tax records.