504 Indiana Ave · Veedersburg, IN 47987

$154,000

3 bd · 1.0 ba · 1,179 sqft · SingleFamily public records · 9 Days on market

Built 1943 6,199 sqft lot Est $152k · at est.

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Why this score? — see what drove the C- 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 +15.5/30.0
• Appreciation +10.0/10.0
• ARV discount +6.9/15.0
• DSCR +4.8/10.0
• Schools +3.3/10.0
• Livability +3.2/5.0
• 1% rule +2.9/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Step into this delightfully charming single-story ranch home, where cozy comfort meets thoughtful updates. Freshly refreshed and waiting for its next chapter. This inviting home offers three bedrooms, with flexible space to easily create a fourth bedroom or home office. Enjoy the convenience of a main-floor laundry room with attached mudroom—perfect for busy families or anyone who loves staying organized. A partial basement provides excellent extra storage for all your seasonal items and hobbies. Outside, the backyard is a private oasis—nicely tucked away with mature landscaping for that peaceful, secluded feel. Unwind or entertain on the brand-new large deck. The detached oversized two-car garage adds even more convenience and storage. This updated ranch is move-in ready and full of potential—whether you're starting out, downsizing, or looking for that perfect single-level lifestyle. Appliances included.

Key facts

• 6,199 sq ft lot
• 2 garage spots
• Built 1943

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $154k.

Deal economics

• At list price, monthly cash flow is $62 ($738/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $122k (21.1% below list).
• Recommended offer: $122k (21.1% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 64/100 on livability (#395 in IN) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F, employment D-.
• Southeast Fountain School Corporation (rural): math 34% / reading 43% proficiency, ranked #163 of 301 in IN (top 54%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Southeast Fountain Elementary (math 39% / reading 39%, grade F, #530 of 994 statewide, top 54%, 473 students, 56% FRL); Fountain Central High School (math 27% / reading 50%, grade F, #241 of 369 statewide, top 65%, 506 students, 51% FRL).
• Market conditions: 21 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 19 units permitted in Fountain County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $16k of equity ($1k loan paydown + $15k appreciation (10.0% local appreciation)).
• Fountain County population projected at -22% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $43k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$42k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 9 days on market — expect competitive offers; lowballing is unlikely to land.
• 8 sale attempts since 26y 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 $120k; 28% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1943 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $121,545 (21.1% below list)

Questions for the listing agent

1. Built in 1943 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. 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: 0.79% ✗
• Cap rate: 6.77%
• Cash-on-cash: 1.71%
• DSCR: 1.08
• GRM: 10.6

CMA / ARV

• ARV (on-the-fly): $152,091
• Comps found: 10

Show comp detail 10 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
316 N Mill St	0.23mi	2/1.0 (-1)	1,176 (-0%)	2mo	$148,000	$126	82
407 S Main St	0.53mi	3/1.0	1,201 (+2%)	2mo	$162,500	$135	71
605 N Walnut St	0.32mi	2/1.0 (-1)	1,212 (+3%)	6mo	$137,900	$114	71
400 E 8th St	0.16mi	3/1.0	1,340 (+14%)	1mo	$173,000	$129	69
711 Indiana Ave	0.15mi	2/1.0 (-1)	1,200 (+2%)	20mo	$127,000	$106	68
715 N Main St	0.18mi	3/1.0	1,288 (+9%)	18mo	$115,000	$89	61
700 Commercial St	0.58mi	3/2.0	1,128 (-4%)	6mo	$220,000	$195	57
506 S Mill St	0.63mi	3/1.5	1,132 (-4%)	21mo	$157,000	$139	45
400 Dewey St	0.54mi	3/1.0	1,040 (-12%)	24mo	$146,000	$140	35
220 W Washington St	0.43mi	3/2.0	1,344 (+14%)	23mo	$145,000	$108	34

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

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 25.5%
• Equity multiple: 3.03×
• Total profit: $87,706
• Equity at exit: $138,735

10-year hold

• IRR: 22.4%
• Equity multiple: 6.91×
• Total profit: $255,034
• Equity at exit: $299,188

Cash invested: $43,120 (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 47987

• Home prices YoY: 4.8%
• Active inventory: 21
• Price-to-rent: 10.6×

Monthly cashflow live

• Estimated rent: $1,215 medium
• Mortgage (P&I): −$808
• Tax from tax record: −$27 /mo · $323/yr
• Insurance: −$64
• HOA: −$0
• Vacancy / Maint / Mgmt: −$255
• Net cashflow: $62

Break-even live

Break-even rent $1,138

Max offer price $154,000

Occupancy floor 90%

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: $38,500
• Closing costs: $4,620
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
110 N Main St Unit 110 Veedersburg, IN	3.0	1.0	1386	$1,350	$0.97	20d	1	0.28mi
414 W Harrison St Apt 10 Veedersburg, IN	2.0	1.0	700	$799	$1.14	20d	1	0.59mi

Listing history 17 events

1. 2026-04-17
   status Pending 936-char remark

   Show marketing remark (936 chars)

   Step into this delightfully charming single-story ranch home, where cozy comfort meets thoughtful updates. Freshly refreshed and waiting for its next chapter. This inviting home offers three bedrooms, with flexible space to easily create a fourth bedroom or home office. Enjoy the convenience of a main-floor laundry room with attached mudroom—perfect for busy families or anyone who loves staying organized. A partial basement provides excellent extra storage for all your seasonal items and hobbies. Outside, the backyard is a private oasis—nicely tucked away with mature landscaping for that peaceful, secluded feel. Unwind or entertain on the brand-new large deck. The detached oversized two-car garage adds even more convenience and storage. This updated ranch is move-in ready and full of potential—whether you're starting out, downsizing, or looking for that perfect single-level lifestyle. Appliances included.

2. 2026-04-17
   status Pending

   Show marketing remark (936 chars)

   Step into this delightfully charming single-story ranch home, where cozy comfort meets thoughtful updates. Freshly refreshed and waiting for its next chapter. This inviting home offers three bedrooms, with flexible space to easily create a fourth bedroom or home office. Enjoy the convenience of a main-floor laundry room with attached mudroom—perfect for busy families or anyone who loves staying organized. A partial basement provides excellent extra storage for all your seasonal items and hobbies. Outside, the backyard is a private oasis—nicely tucked away with mature landscaping for that peaceful, secluded feel. Unwind or entertain on the brand-new large deck. The detached oversized two-car garage adds even more convenience and storage. This updated ranch is move-in ready and full of potential—whether you're starting out, downsizing, or looking for that perfect single-level lifestyle. Appliances included.

3. 2026-04-08
   listed $154,000 Active 936-char remark

   Show marketing remark (936 chars)

   Step into this delightfully charming single-story ranch home, where cozy comfort meets thoughtful updates. Freshly refreshed and waiting for its next chapter. This inviting home offers three bedrooms, with flexible space to easily create a fourth bedroom or home office. Enjoy the convenience of a main-floor laundry room with attached mudroom—perfect for busy families or anyone who loves staying organized. A partial basement provides excellent extra storage for all your seasonal items and hobbies. Outside, the backyard is a private oasis—nicely tucked away with mature landscaping for that peaceful, secluded feel. Unwind or entertain on the brand-new large deck. The detached oversized two-car garage adds even more convenience and storage. This updated ranch is move-in ready and full of potential—whether you're starting out, downsizing, or looking for that perfect single-level lifestyle. Appliances included.

4. 2026-04-08
   listed $154,000 Active

   Show marketing remark (936 chars)

   Step into this delightfully charming single-story ranch home, where cozy comfort meets thoughtful updates. Freshly refreshed and waiting for its next chapter. This inviting home offers three bedrooms, with flexible space to easily create a fourth bedroom or home office. Enjoy the convenience of a main-floor laundry room with attached mudroom—perfect for busy families or anyone who loves staying organized. A partial basement provides excellent extra storage for all your seasonal items and hobbies. Outside, the backyard is a private oasis—nicely tucked away with mature landscaping for that peaceful, secluded feel. Unwind or entertain on the brand-new large deck. The detached oversized two-car garage adds even more convenience and storage. This updated ranch is move-in ready and full of potential—whether you're starting out, downsizing, or looking for that perfect single-level lifestyle. Appliances included.

5. 2026-03-17
   price $159,900
6. 2026-02-18
   price $164,500
7. 2026-01-09
   listed $169,900 Active
8. 2025-07-18
   listed $169,900 Active
9. 2023-02-03
   soldstatus $120,000 Closed
10. 2022-12-17
    status Pending
11. 2022-12-09
    listed $117,000 Active
12. 2006-11-21
    soldstatus $85,000
13. 2006-10-20
    listed $52,500
14. 2006-04-03
    soldstatus $18,000
15. 2006-02-24
    listed $19,999
16. 2001-01-29
    historical
17. 2000-09-26
    listed $49,000

ⓘ 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: $323 · $27/mo
• Projected year-2 tax: $816 · $68/mo
• Expected delta: +$493/yr (+$41/mo · 152.4%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 3/10 Moderate 7 d/yr ≥102°F today · 18 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 0% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 3 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $14,585
• − Mortgage interest: −$8,626
• − Property taxes: −$323
• − Insurance: −$770
• − Repairs & maintenance: −$1,167
• − Management: −$1,167
• − Depreciation: −$4,480
• Taxable loss: −$1,948
• Est. tax savings @ 24.0%: +$468
• After-tax cash flow: $1,206/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: Southeast Fountain School Corporation
• NCES district ID: 1810620
• Math proficiency: 34% ▼ -8.00%
• Reading proficiency: 43% ▼ -5.00%
• Median HH income: $44,911
• Composite: 32.73/100
• National rank: #5640
• State rank: #163 of 301 in IN

Livability — Veedersburg

• Score: 64/100
• State rank: #395
• US rank: #14573

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Veedersburg, IN
• Population (ZIP): 3,705

Population outlook (Fountain County) Hauer SSP2

• Today (2025): 15,481 people
• By 2030: 14,841 · -4.1%
• By 2040: 13,505 · -12.8%
• By 2050: 12,149 · -21.5%
• By 2075: 9,214 · -40.5%
• By 2100: 6,463 · -58.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (95%)
• Race & ethnicity: White 95% Hispanic / Latino 3% Two or more races 3%
• Common ancestry: Romanian 2% Lithuanian 2% Slovak 1%
• Foreign-born: 1% · Canada
• Languages at home: 99% English-only · Spanish 1%

Political lean MEDSL · Fountain

• 2024 margin: Solid R (+60.0) · D 19.1% · R 79.1% · Other 1.8%
• 2008→2024 swing: -45.6pp toward R · 2008: -14.4pp · 2024: -60.0pp
• All cycles: 2024: R+60.0 2020: R+56.7 2016: R+56.0 2012: R+34.2 2008: R+14.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 10.85%
• Current HPI: 235.6913
• 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

+214.3% since first listed

17 events — show timeline

• 2026-04-17 Pending — IRMLS
• 2026-04-17 Pending — MIBOR as Distributed by MLS Grid
• 2026-04-08 Listed $154,000 IRMLS
• 2026-04-08 Listed $154,000 MIBOR as Distributed by MLS Grid
• 2026-03-17 Price Changed $159,900 IRMLS
• 2026-02-18 Price Changed $164,500 IRMLS
• 2026-01-09 Listed $169,900 IRMLS
• 2025-07-18 Listed $169,900 IRMLS
• 2023-02-03 Sold (MLS) $120,000 MIBOR as Distributed by MLS Grid
• 2022-12-17 Pending — MIBOR as Distributed by MLS Grid
• 2022-12-09 Listed $117,000 MIBOR as Distributed by MLS Grid
• 2006-11-21 Sold (MLS) $85,000 MIBOR as Distributed by MLS Grid
• 2006-10-20 Listed $52,500 MIBOR as Distributed by MLS Grid
• 2006-04-03 Sold (MLS) $18,000 MIBOR as Distributed by MLS Grid
• 2006-02-24 Listed $19,999 MIBOR as Distributed by MLS Grid
• 2001-01-29 Listing Removed — MIBOR as Distributed by MLS Grid
• 2000-09-26 Listed $49,000 MIBOR as Distributed by MLS Grid

Property tax history

+5.5%/yr

Latest (2024): $323 · -5.3% YoY. Source: county tax records.