301 S Mccarty St · Fortville, IN 46040

$199,900

2 bd · 1.0 ba · 1,001 sqft · SingleFamily public records · 30 Days on market

Built 1960 0.26 ac lot Est $201k · 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 +14.8/30.0
• ARV discount +7.8/15.0
• DSCR +4.5/10.0
• Schools +4.1/10.0
• Livability +3.5/5.0
• 1% rule +2.9/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to 301 South McCarty Street in the heart of Fortville-a charming home that blends character, functionality, and location. Situated on a spacious corner lot, this property offers both curb appeal and room to enjoy outdoor living. Step inside to find a warm and inviting interior with natural light flowing throughout the main living spaces. The layout is both practical and comfortable, making it easy to relax at home or entertain guests. The kitchen provides ample cabinet and counter space, ready for everyday living or your personal updates. The bedrooms offer comfortable retreats, while the overall layout gives flexibility for a variety of lifestyles-whether you're a first-time buyer,

Key facts

• Flexible layout
• Natural light
• Ample cabinet space

Tags

• CORNER LOT
• OUTDOOR LIVING
• NATURAL LIGHT
• AMPLE CABINET SPACE
• FLEXIBLE LAYOUT
• QUIET SURROUNDINGS

Property features AI

Exterior

• Parking: Attached 2-car garage
• Utilities: Public water; Municipal sewer
• Home design: Single family residence; One level
• Construction: Vinyl siding; Crawl space foundation
• Exterior features: Covered patio/porch

Interior

• Kitchen: Eat-in kitchen
• Bedrooms: 2 bedrooms (both on main level)
• Bathrooms: 1 full bathroom (main level)
• Heating & cooling: Natural gas heating; Central air conditioning
• Interior features: Eat-in kitchen; Living room (15x16); Dining room (15x16); Kitchen (15x16); Laundry room (5x8)
• Laundry & utility: Main-level laundry room

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $200k.

Deal economics

• At list price, monthly cash flow is $55 ($665/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 $158k (20.7% below list).
• Recommended offer: $158k (20.7% below list) — sets the bar for 1% rule.
• Cap rate 6.6% vs local median 4.2% in Fortville — 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 (#189 in IN) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F, health & safety F.
• Mt Vernon Community School Corporation (rural): math 43% / reading 48% proficiency, ranked #70 of 301 in IN (top 23%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; only 18% free/reduced lunch — higher-income household profile.
• Zoned schools: Fortville Elementary School (math 50% / reading 46%, grade D, #314 of 994 statewide, top 32%, 719 students, 31% FRL); Mt Vernon Middle School (math 37% / reading 46%, grade F, #108 of 330 statewide, top 34%, 1,070 students, 31% FRL); Mt Vernon High School (math 41% / reading 71%, grade C, #73 of 369 statewide, top 20%, 1,431 students, 27% FRL).
• Market conditions: 307 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals leasing fast (median 13d on market — plan ~1-2 weeks tenant-placement turnaround); 1,091 units permitted in Hancock County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• Hancock County population projected at +7% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• It's been on market 30 days — a 2% lower offer ($197k) is reasonable based on typical stale-listing flexibility.

Recommended offer $158,469 (20.7% below list)

Questions for the listing agent

1. Built in 1960 — 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. 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?
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: 6.63%
• Cash-on-cash: 1.19%
• DSCR: 1.05
• GRM: 10.5

CMA / ARV

• ARV (on-the-fly): $201,201
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
420 S Oak St	0.21mi	2/1.5	980 (-2%)	12mo	$230,000	$235	75
212 E High St	0.26mi	2/1.0	864 (-14%)	2mo	$170,000	$197	64
230 N School St	0.31mi	3/1.5 (+1)	1,040 (+4%)	11mo	$224,585	$216	63
218 Pearl St	0.22mi	2/1.0	1,100 (+10%)	12mo	$240,000	$218	63
604 S Oak St	0.28mi	3/1.0 (+1)	1,112 (+11%)	1mo	$228,900	$206	62
319 E Ohio St	0.40mi	3/1.0 (+1)	936 (-6%)	12mo	$170,000	$182	55
315 Elm St	0.36mi	2/1.0	856 (-14%)	7mo	$142,500	$166	54
517 N Leland St	0.51mi	2/1.0	1,080 (+8%)	11mo	$204,000	$189	54
421 W Staat St	0.31mi	2/1.0	864 (-14%)	19mo	$265,000	$307	47
334 E Monroe St	0.48mi	3/2.0 (+1)	1,113 (+11%)	4mo	$220,000	$198	47
446 Illinois St	0.60mi	3/1.0 (+1)	908 (-9%)	20mo	$182,500	$201	35
417 Monroe St	0.53mi	3/1.0 (+1)	1,108 (+11%)	22mo	$200,000	$181	34

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: -14.5%
• Equity multiple: 0.48×
• Total profit: $-28,955
• Equity at exit: $29,806

10-year hold

• IRR: -5.8%
• Equity multiple: 0.62×
• Total profit: $-21,037
• Equity at exit: $17,284

Cash invested: $55,972 (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 46040

• Home prices YoY: -24.4%
• Active inventory: 307
• Price-to-rent: 10.5×

Monthly cashflow live

• Estimated rent: $1,585 high
• Mortgage (P&I): −$1,048
• Tax from tax record: −$65 /mo · $779/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$333
• Net cashflow: $55

Break-even live

Break-even rent $1,515

Max offer price $199,900

Occupancy floor 92%

Sensitivity live

Price	-10% $169	-5% $112	+0% $55	+5% $-1	+10% $-58
Rent	-10% $-70	-5% $-7	+0% $55	+5% $118	+10% $181
Rate	-1.0pp $156	-0.5pp $106	base $55	+0.5pp $4	+1.0pp $-49

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: $49,975
• Closing costs: $5,997
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
334 W Staat St Fortville, IN	3.0	1.0	1014	$1,600	$1.58	12d	1	0.17mi
650 N Main St Fortville, IN	1.0–3.0	2.0	956	$1,664	$1.74	0d	3	0.59mi
410 Vera Ct Fortville, IN	3.0	1.5	1178	$1,399	$1.19	0d	2	0.68mi
602 Bradley Dr Fortville, IN	2.0–3.0	2.0	1105	$1,293	$1.17	0d	8	0.70mi
710 Brooks Dr Fortville, IN	3.0	1.0	925	$1,800	$1.95	12d	1	0.81mi
936 E Broadway St Fortville, IN	3.0	1.5	1200	$1,750	$1.46	25d	1	0.95mi

Listing history 1 events

1. 2026-04-24
   listed $199,900 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: $779 · $65/mo
• Projected year-2 tax: $1,239 · $103/mo
• Expected delta: +$460/yr (+$38/mo · 59.0%)

ⓘ 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 3/10 Moderate 7 d/yr ≥101°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: $19,016
• − Mortgage interest: −$11,198
• − Property taxes: −$779
• − Insurance: −$1,000
• − Repairs & maintenance: −$1,521
• − Management: −$1,521
• − Depreciation: −$5,815
• Taxable loss: −$2,818
• Est. tax savings @ 24.0%: +$676
• After-tax cash flow: $1,341/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: Mt Vernon Community School Corporation
• NCES district ID: 1807260
• Math proficiency: 43% ▼ -12.00%
• Reading proficiency: 48% ▼ -7.00%
• Median HH income: $73,671
• Composite: 41.3/100
• National rank: #3514
• State rank: #70 of 301 in IN

Livability — Fortville

• Score: 69/100
• State rank: #189
• US rank: #8710

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Fortville, IN
• Population (ZIP): 17,891

Population outlook (Hancock County) Hauer SSP2

• Today (2025): 77,820 people
• By 2030: 79,914 · +2.7%
• By 2040: 82,734 · +6.3%
• By 2050: 83,348 · +7.1%
• By 2075: 82,439 · +5.9%
• By 2100: 74,181 · -4.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (83%)
• Race & ethnicity: White 83% Black 6% Two or more races 4% Asian 4% Hispanic / Latino 2%
• Common ancestry: Lithuanian 5% Romanian 2% Portuguese 2%
• Foreign-born: 5% · Canada
• Languages at home: 94% English-only · Other Indo-European 3% Arabic 1% Spanish 1%

Political lean MEDSL · Hancock

• 2024 margin: Solid R (+33.7) · D 32.2% · R 65.9% · Other 1.9%
• 2008→2024 swing: -4.1pp toward R · 2008: -29.6pp · 2024: -33.7pp
• All cycles: 2024: R+33.7 2020: R+37.5 2016: R+44.8 2012: R+41.0 2008: R+29.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -71.54%
• Current HPI: 221.8703
• 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

1 event — show timeline

• 2026-04-24 Listed $199,900 MIBOR as Distributed by MLS Grid

Property tax history

+1.7%/yr

Latest (2025): $779 · -54.4% YoY. Source: county tax records.