506 S Howard St · Oxford, IN 47971

$40,000

3 bd · 1.5 ba · 960 sqft · SingleFamily public records · 64 Days on market

Built 1900 0.33 ac lot $42/sqft · 70% below area ↓ 11% since listing

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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 +10.0/10.0
• ARV discount +7.5/15.0
• Schools +3.5/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Bring your ideas to this clean slate and plan your own design. Lot with an existing home that can be completely remodeled to your liking. Bring your contractor and make this property beautiful again. Within close proximity to Oak Grove Golf Course. Selling in As Is condition.

Key facts

• Completely remodeled
• Existing home
• 0.33 acre lot

Tags

• EXISTING HOME
• COMPLETELY REMODELED

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $40k.

Deal economics

• At list price, monthly cash flow is $505 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($964 rent vs $40k).
• Recommended offer: $38k (6.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 64/100 on livability (#394 in IN) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: schools D+, amenities F, commute F.
• Benton Community School Corporation (rural): math 38% / reading 43% proficiency, ranked #134 of 301 in IN (top 44%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 13 active listings in the ZIP.

Forward outlook

• In year one you build about $4k of equity ($277 loan paydown + $4k appreciation (10.0% local appreciation)).
• Benton County population projected at -13% 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 $11k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 7, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 64 days — a 6% lower offer ($38k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 3y 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.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $37,600 (6.0% below list)

Questions for the listing agent

1. It's been on market 64 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1900 — 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 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?
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: 2.41% ✓
• Cap rate: 21.44%
• Cash-on-cash: 54.10%
• DSCR: 3.41
• GRM: 3.5

CMA / ARV

• ARV (median comp): $134,140
• List price: $40,000
• Delta: -70.18%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
607 S Howard St	0.07mi	3/1.0	956 (-0%)	12mo	$150,000	$157	84
108 N Michigan St	0.36mi	2/1.0 (-1)	1,008 (+5%)	1mo	$155,000	$154	67
312 S Sheets St	0.15mi	2/1.5 (-1)	1,032 (+8%)	12mo	$160,000	$155	66
408 E Smith St	0.30mi	2/1.0 (-1)	992 (+3%)	10mo	$90,000	$91	65
505 N Howard St	0.50mi	2/1.0 (-1)	988 (+3%)	2mo	$155,000	$157	63
602 N Dan Patch Dr	0.56mi	3/1.5	1,056 (+10%)	16mo	$157,500	$149	44

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: 67.1%
• Equity multiple: 5.82×
• Total profit: $53,944
• Equity at exit: $36,035

10-year hold

• IRR: 60.7%
• Equity multiple: 12.93×
• Total profit: $133,574
• Equity at exit: $77,711

Cash invested: $11,200 (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 47971

• Home prices YoY: 11.9%
• Active inventory: 13
• Price-to-rent: 3.5×

Monthly cashflow live

• Estimated rent: $964 medium
• Mortgage (P&I): −$210
• Tax from tax record: −$30 /mo · $359/yr
• Insurance: −$17
• HOA: −$0
• Vacancy / Maint / Mgmt: −$202
• Net cashflow: $505

Break-even live

Break-even rent $325

Max offer price $40,000

Occupancy floor 43%

Sensitivity live

Price	-10% $528	-5% $516	+0% $505	+5% $494	+10% $482
Rent	-10% $429	-5% $467	+0% $505	+5% $543	+10% $581
Rate	-1.0pp $525	-0.5pp $515	base $505	+0.5pp $495	+1.0pp $484

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: $10,000
• Closing costs: $1,200
• Reserves months: —
• Total cash needed: —

Listing history 17 events

1. 2026-06-19
   days on market $40,000 Active 64 DOM
2. 2026-06-18
   days on market $40,000 Active 63 DOM
3. 2026-06-17
   days on market $40,000 Active 62 DOM
4. 2026-06-16
   days on market $40,000 Active 61 DOM
5. 2026-06-15
   days on market $40,000 Active 60 DOM
6. 2026-06-14
   days on market $40,000 Active 58 DOM
7. 2026-06-13
   days on market $40,000 Active 57 DOM
8. 2026-06-10
   days on market $40,000 Active 55 DOM
9. 2026-06-09
   days on market $40,000 Active 54 DOM
10. 2026-06-08
    days on market $40,000 Active 53 DOM
11. 2026-06-07
    days on market $40,000 Active 52 DOM
12. 2026-06-02
    days on market $40,000 Active 47 DOM
13. 2026-06-01
    days on market $40,000 Active 46 DOM
14. 2026-05-31
    days on market $40,000 Active 45 DOM
15. 2026-05-30
    days on market $40,000 Active 44 DOM
16. 2026-04-15
    listed $40,000 Active 277-char remark

    Show marketing remark (277 chars)

    Bring your ideas to this clean slate and plan your own design. Lot with an existing home that can be completely remodeled to your liking. Bring your contractor and make this property beautiful again. Within close proximity to Oak Grove Golf Course. Selling in As Is condition.

17. 2023-03-04
    listed $45,000 Active

ⓘ 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: $359 · $30/mo
• Projected year-2 tax: $359 · $30/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 2/10 Low
• 🌡 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 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $11,564
• − Mortgage interest: −$2,241
• − Property taxes: −$359
• − Insurance: −$200
• − Repairs & maintenance: −$925
• − Management: −$925
• − Depreciation: −$1,164
• Taxable income: $5,750
• Est. tax owed @ 24.0%: −$1,380
• After-tax cash flow: $4,679/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: Benton Community School Corporation
• NCES district ID: 1800480
• Math proficiency: 38% ▼ -7.00%
• Reading proficiency: 43% ▼ -7.00%
• Median HH income: $50,073
• Composite: 34.9/100
• National rank: #5076
• State rank: #134 of 301 in IN

Livability — Oxford

• Score: 64/100
• State rank: #394
• US rank: #14558

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Oxford, IN
• Population (ZIP): 1,718

Population outlook (Benton County) Hauer SSP2

• Today (2025): 8,404 people
• By 2030: 8,234 · -2.0%
• By 2040: 7,832 · -6.8%
• By 2050: 7,337 · -12.7%
• By 2075: 6,436 · -23.4%
• By 2100: 5,139 · -38.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (90%)
• Race & ethnicity: White 90% Two or more races 4% Black 4% Hispanic / Latino 3%
• Common ancestry: Iranian 5% Slovak 4% Lithuanian 2%
• Foreign-born: 1% · Canada
• Languages at home: 97% English-only · Spanish 2% German/W. Germanic 1%

Political lean MEDSL · Benton

• 2024 margin: Solid R (+47.1) · D 25.5% · R 72.7% · Other 1.8%
• 2008→2024 swing: -30.9pp toward R · 2008: -16.3pp · 2024: -47.1pp
• All cycles: 2024: R+47.1 2020: R+48.6 2016: R+47.0 2012: R+32.7 2008: R+16.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 34.25%
• Current HPI: 320.9159
• 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

-11.1% since first listed

2 events — show timeline

• 2026-04-15 Listed $40,000 IRMLS
• 2023-03-04 Listed $45,000 IRMLS

Property tax history

+11.7%/yr

Latest (2024): $359 · +1.2% YoY. Source: county tax records.