55 W Harrison St · Mooresville, IN 46158

$249,000

2 bd · 2.0 ba · 2,000 sqft · SingleFamily public records · 2 Days on market

Built 1922 6,578 sqft lot Est $252k · at est.

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Why this score? — see what drove the D 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 +13.2/30.0
• ARV discount +8.0/15.0
• DSCR +4.0/10.0
• Schools +3.7/10.0
• Livability +3.5/5.0
• 1% rule +3.0/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

You’re going to be mad at yourself if you don’t act now! This adorable, immaculate home in one of downtown Mooresville’s quaint, quiet side streets is up for grabs. Perfectly maintained inside and out. Built in 1922, w/2000 renovated sq ft, 3BR 2 full baths. Enjoy the beautiful and private back yd incl a lg deck with pergola, and oversized 2 car garage, or enjoy the covered front porch as neighbors stroll by. The basement offers tons of storage. All that is missing in this perfect home is you.

Key facts

• Gas fireplace
• Backyard oasis
• Back deck

Tags

• SPACIOUS COVERED FRONT PORCH
• GAS FIREPLACE
• BACKYARD OASIS
• BACK DECK
• BASEMENT FOR STORAGE
• MOVE IN READY

Property features AI

Exterior

• Parking: Detached 2-car garage
• Utilities: Public water; Municipal sewer connection; Natural gas connected; Cable available
• Home design: Single family residence; One and one-half stories; Residential property
• Construction: Vinyl siding; Poured concrete foundation; Built with approximately 2,500 total building area
• Exterior features: Covered deck/patio; Full yard fencing; Mature trees; Sidewalks

Interior

• Kitchen: Dishwasher; Disposal; Micro hood; Electric oven; Refrigerator; Free-standing freezer
• Bedrooms: Three bedrooms total — two on the main level and one upper-level bedroom
• Flooring: Hardwood floors
• Bathrooms: Two full bathrooms; Primary bathroom has a full shower stall and double sinks
• Heating & cooling: Forced air heating (natural gas); Central air conditioning
• Interior features: Attic access; Built-in features; Hardwood floors; Smart thermostat; Unfinished basement; One fireplace with gas log and insert in the living room
• Laundry & utility: Washer and dryer included; Laundry located in the basement; Electric water heater

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath single-family listed at $249k.

Deal economics

• At list price, monthly cash flow is $-3 ($-39/yr) — negative.
• To cash-flow at today's rent, offer at most $248k (0.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $200k (19.7% below list).
• Recommended offer: $200k (19.7% below list) — sets the bar for 1% rule.
• Cap rate 6.3% vs local median 3.5% in Mooresville — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 69/100 on livability (#201 in IN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime B+; Watch: amenities F, commute F, health & safety F.
• Mooresville Consolidated School Corporation (suburban): math 41% / reading 43% proficiency, ranked #111 of 301 in IN (top 37%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Mooresville High School (math 43% / reading 74%, grade C, #60 of 369 statewide, top 16%, 1,404 students, 39% FRL).
• Zoned-school proficiency averages 58% at this address vs 42% district-wide (+16 pts) — the actual schools serving this property are materially stronger than the Mooresville Consolidated School Corporation average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: 134 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 330 units permitted in Morgan County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.
• Morgan County population projected to shrink 6% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.

Negotiation context

• Only 2 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 7y 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 $160k; list at $249k implies a 56% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1922 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $200,000 (19.7% below list)

Questions for the listing agent

1. 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?
2. Built in 1922 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
5. 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?
6. 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.
7. 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.
8. 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: 0.80% ✗
• Cap rate: 6.28%
• Cash-on-cash: -0.06%
• DSCR: 1.00
• GRM: 10.4

CMA / ARV

• ARV (on-the-fly): $252,000
• Comps found: 8

Show comp detail 8 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
143 W Washington St	0.18mi	3/1.0 (+1)	2,122 (+6%)	10mo	$323,000	$152	64
150 W Main St	0.16mi	2/1.0	1,768 (-12%)	7mo	$188,500	$107	64
310 Styleline Dr	0.49mi	2/2.0	1,920 (-4%)	11mo	$266,000	$139	61
306 Bishop St	0.54mi	2/1.0	1,872 (-6%)	1mo	$210,000	$112	59
125 W Washington St	0.17mi	3/2.0 (+1)	2,195 (+10%)	21mo	$295,000	$134	53
308 Bishop St	0.55mi	3/2.0 (+1)	1,768 (-12%)	3mo	$222,000	$126	48
32 E South St	0.26mi	3/1.0 (+1)	1,776 (-11%)	18mo	$187,600	$106	45
321 Maple Ln	0.53mi	3/1.0 (+1)	2,196 (+10%)	17mo	$137,500	$63	36

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

Projected returns pro-forma

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

5-year hold

• IRR: -16.4%
• Equity multiple: 0.42×
• Total profit: $-40,610
• Equity at exit: $37,127

10-year hold

• IRR: -8.2%
• Equity multiple: 0.49×
• Total profit: $-35,851
• Equity at exit: $21,529

Cash invested: $69,720 (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 46158

• Home prices YoY: -26.3%
• Active inventory: 134
• Price-to-rent: 10.4×

Monthly cashflow live

• Estimated rent: $2,000 medium
• Mortgage (P&I): −$1,306
• Tax from tax record: −$174 /mo · $2,085/yr
• Insurance: −$104
• HOA: −$0
• Vacancy / Maint / Mgmt: −$420
• Net cashflow: $-3

Break-even live

Break-even rent $2,004

Max offer price $248,425

Occupancy floor 95%

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: $62,250
• Closing costs: $7,470
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
120 W Harrison St Mooresville, IN	3.0	2.0	1600	$2,000	$1.25	1d	1	0.09mi

Listing history 4 events

1. 2026-06-02
   status $249,000 Pending 2 DOM
2. 2026-06-01
   days on market $249,000 Active 2 DOM
3. 2026-05-31
   remarks 699-char remark
4. 2026-05-31
   listed $249,000 Active 1 DOM

ⓘ 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: $2,085 · $174/mo
• Projected year-2 tax: $2,101 · $175/mo
• Expected delta: +$16/yr (+$1/mo · 0.8%)

ⓘ 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: $24,000
• − Mortgage interest: −$13,948
• − Property taxes: −$2,085
• − Insurance: −$1,245
• − Repairs & maintenance: −$1,920
• − Management: −$1,920
• − Depreciation: −$7,244
• Taxable loss: −$4,361
• Est. tax savings @ 24.0%: +$1,047
• After-tax cash flow: $1,008/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: Mooresville Consolidated School Corporation
• NCES district ID: 1807140
• Math proficiency: 41% ▼ -11.00%
• Reading proficiency: 43% ▼ -9.00%
• Median HH income: $59,316
• Composite: 37.04/100
• National rank: #4511
• State rank: #111 of 301 in IN

Livability — Mooresville

• Score: 69/100
• State rank: #201
• US rank: #8947

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Mooresville, IN
• City population: 24,622
• Population (ZIP): 24,622

Population outlook (Morgan County) Hauer SSP2

• Today (2025): 71,081 people
• By 2030: 71,178 · +0.1%
• By 2040: 69,907 · -1.7%
• By 2050: 66,455 · -6.5%
• By 2075: 57,291 · -19.4%
• By 2100: 43,782 · -38.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (94%)
• Race & ethnicity: White 94% Two or more races 3% Hispanic / Latino 2%
• Common ancestry: Slovak 2% Italian 2% Iranian 2%
• Foreign-born: 1% · Canada
• Languages at home: 98% English-only · Spanish 1%

Political lean MEDSL · Morgan

• 2024 margin: Solid R (+54.3) · D 22.0% · R 76.3% · Other 1.7%
• 2008→2024 swing: -27.3pp toward R · 2008: -27.1pp · 2024: -54.3pp
• All cycles: 2024: R+54.3 2020: R+54.6 2016: R+56.6 2012: R+41.1 2008: R+27.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -90.62%
• Current HPI: 254.0837
• 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

+55.6% since first listed

4 events — show timeline

• 2026-05-28 Listed $249,000 MIBOR as Distributed by MLS Grid
• 2019-11-08 Sold (MLS) $160,000 MIBOR as Distributed by MLS Grid
• 2019-10-17 Pending — MIBOR as Distributed by MLS Grid
• 2019-10-15 Listed $160,000 MIBOR as Distributed by MLS Grid

Property tax history

+27.6%/yr

Latest (2025): $2,085 · -9.0% YoY. Source: county tax records.