308 N Burke St · Wolcott, IN 47995

$189,000

3 bd · 1.0 ba · 1,776 sqft · SingleFamily public records · 8 Days on market

Built 1900 7,405 sqft lot Est $206k · 8% under

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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).

• ARV discount +11.2/15.0
• Appreciation +8.4/10.0
• Cash flow +8.2/30.0
• Livability +3.5/5.0
• Schools +3.4/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• DSCR +2.2/10.0
• 1% rule +1.6/10.0

Listing remarks MLS

A ton of square footage for the money with this large home with nearly 1800 sq feet. This 4 bedroom home has 1 bedroom downstairs with 3 bedrooms upstairs. Largest bedroom upstairs doesn't have a closet. Large eat in kitchen with a separate dining room and living room. Large 1 car garage with extra storage space, nice yard with a white fence at the back.

Key facts

• 7,405 sq ft lot
• Garage
• Built 1900

Property features AI

Exterior

• Parking: Detached garage with 1 garage space
• Utilities: Public water; Public sewer
• Home design: Single-family residence (site-built); Two-story home
• Construction: Vinyl siding; Shingle roof; Crawl space foundation; Built above grade finished area of approximately 1,776
• Exterior features: Level lot; Lot dimensions approximately 62 x 120

Interior

• Kitchen: Includes refrigerator; Includes electric range
• Bathrooms: One full bathroom; One half bathroom; Two bathrooms on the main level
• Heating & cooling: Natural gas heating; Central air conditioning
• Interior features: Refrigerator; Electric range; Electric water heater
• Laundry & utility: Laundry located on the main level

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $189k.

Deal economics

• At list price, monthly cash flow is $-178 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $158k (16.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $124k (34.3% below list).
• Recommended offer: $124k (34.3% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 70/100 on livability (#168 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.
• Tri-County School Corporation (rural): math 36% / reading 42% proficiency, ranked #146 of 301 in IN (top 48%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Tri-County Primary School (209 students, 35% FRL); Tri-County Jr/Sr High School (math 32% / reading 57%, grade F, #169 of 369 statewide, top 51%, 329 students, 40% FRL).
• Market conditions: 4 active listings in the ZIP; 47 units permitted in White County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $14k of equity ($1k loan paydown + $13k appreciation (6.8% local appreciation)).
• White County population projected at -19% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• By year 3, paydown + projected appreciation supports a ~$35k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 8 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 13y 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 $60k; list at $189k implies a 215% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

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

Recommended offer $124,251 (34.3% 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 1900 — 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. 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?
5. 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.
6. 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.
7. 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: 0.66% ✗
• Cap rate: 5.16%
• Cash-on-cash: -4.04%
• DSCR: 0.82
• GRM: 12.7

CMA / ARV

• ARV (on-the-fly): $206,016
• Comps found: 6

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
301 N Range St	0.05mi	3/1.0	1,554 (-12%)	2mo	$180,000	$116	75
206 E Johnson St	0.13mi	2/1.5 (-1)	1,844 (+4%)	9mo	$182,500	$99	73
107 N Homer Ln	0.28mi	3/2.0	1,777 (+0%)	20mo	$235,000	$132	66
404 W North St	0.27mi	3/1.5	1,589 (-10%)	2mo	$46,000	$29	66
406 W Anderson St	0.38mi	3/2.0	1,650 (-7%)	7mo	$185,000	$112	60
501 W North St	0.32mi	3/1.0	1,572 (-12%)	13mo	$245,000	$156	55

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

Projected returns pro-forma

6.8% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 14.1%
• Equity multiple: 1.99×
• Total profit: $52,301
• Equity at exit: $128,552

10-year hold

• IRR: 14.2%
• Equity multiple: 4.04×
• Total profit: $160,628
• Equity at exit: $242,029

Cash invested: $52,920 (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 47995

• Home prices YoY: 2.6%
• Active inventory: 4
• Price-to-rent: 12.7×

Monthly cashflow live

• Estimated rent: $1,243 medium
• Mortgage (P&I): −$991
• Tax from tax record: −$90 /mo · $1,079/yr
• Insurance: −$79
• HOA: −$0
• Vacancy / Maint / Mgmt: −$261
• Net cashflow: $-178

Break-even live

Break-even rent $1,468

Max offer price $157,519

Occupancy floor —

Sensitivity live

Price	-10% $-71	-5% $-125	+0% $-178	+5% $-232	+10% $-285
Rent	-10% $-276	-5% $-227	+0% $-178	+5% $-129	+10% $-80
Rate	-1.0pp $-83	-0.5pp $-130	base $-178	+0.5pp $-227	+1.0pp $-277

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: $47,250
• Closing costs: $5,670
• Reserves months: —
• Total cash needed: —

Listing history 8 events

1. 2026-06-19
   days on market $189,000 Active 8 DOM
2. 2026-06-18
   days on market $189,000 Active 7 DOM
3. 2026-06-17
   days on market $189,000 Active 6 DOM
4. 2026-06-16
   days on market $189,000 Active 5 DOM
5. 2026-06-15
   days on market $189,000 Active 4 DOM
6. 2026-06-14
   days on market $189,000 Active 2 DOM
7. 2026-06-13
   remarks 697-char remark
8. 2026-06-13
   listed $189,000 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: $1,079 · $90/mo
• Projected year-2 tax: $1,343 · $112/mo
• Expected delta: +$264/yr (+$22/mo · 24.5%)

ⓘ 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 · 17 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $14,910
• − Mortgage interest: −$10,587
• − Property taxes: −$1,079
• − Insurance: −$945
• − Repairs & maintenance: −$1,193
• − Management: −$1,193
• − Depreciation: −$5,498
• Taxable loss: −$5,584
• Est. tax savings @ 24.0%: +$1,340
• After-tax cash flow: $-798/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: Tri-County School Corporation
• NCES district ID: 1811430
• Math proficiency: 36% ▼ -17.00%
• Reading proficiency: 42% ▼ -16.00%
• Median HH income: $52,924
• Composite: 33.93/100
• National rank: #5336
• State rank: #146 of 301 in IN

Livability — Wolcott

• Score: 70/100
• State rank: #168
• US rank: #7979

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Wolcott, IN
• Population (ZIP): 1,809

Population outlook (White County) Hauer SSP2

• Today (2025): 23,006 people
• By 2030: 22,204 · -3.5%
• By 2040: 20,441 · -11.1%
• By 2050: 18,711 · -18.7%
• By 2075: 14,989 · -34.8%
• By 2100: 10,896 · -52.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (90%)
• Race & ethnicity: White 90% Hispanic / Latino 5% Black 3% Asian 1% Two or more races 1%
• Common ancestry: Lithuanian 3% Iranian 1% Serbian 1%
• Foreign-born: 3% · Canada
• Languages at home: 96% English-only · Spanish 2% Tagalog/Filipino 1% German/W. Germanic 1%

Political lean MEDSL · White

• 2024 margin: Solid R (+45.0) · D 26.4% · R 71.4% · Other 2.2%
• 2008→2024 swing: -36.7pp toward R · 2008: -8.3pp · 2024: -45.0pp
• All cycles: 2024: R+45.0 2020: R+44.1 2016: R+42.9 2012: R+23.6 2008: R+8.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 6.80%
• Current HPI: 271.9339
• 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

+285.7% since first listed

3 events — show timeline

• 2026-06-11 Listed $189,000 IRMLS
• 2014-09-29 Sold (MLS) $60,000 IRMLS
• 2013-12-20 Listed $49,000 IRMLS

Property tax history

-3.9%/yr

Latest (2024): $1,079 · +23.7% YoY. Source: county tax records.