8600 Owl Holw · Poland, IN 47868

$215,000

3 bd · 1.5 ba · 952 sqft · SingleFamily public records · 6 Days on market

Built 1974 3.31 ac lot $226/sqft · 22% above area Est $404k · 47% 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 +15.0/15.0
• Appreciation +10.0/10.0
• Cash flow +4.5/30.0
• Schools +3.2/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +0.0/10.0
• DSCR +0.0/10.0

Listing remarks

Welcome to your own private slice of the countryside, where modern updates meet peaceful surroundings. This beautifully remodeled 2 bedroom, 1 bath home is truly move in ready and packed with upgrades that give you confidence and comfort from day one. Inside, you will find a fresh, updated interior with thoughtful finishes throughout. Nearly everything has been replaced within the last five years, and a brand new furnace adds even more value and peace of mind. The layout is warm and inviting, offering a cozy yet functional space that is easy to maintain and perfect for everyday living or a weekend retreat. One of the standout features of this home is the full unfinished walk-out basement, o

Key facts

• Attached garage
• High-speed internet
• 3.31 acre lot

Tags

• RAMP LEADING TO PATIO
• ATTACHED GARAGE
• UNFINISHED WALKOUT BASEMENT
• HIGH-SPEED INTERNET

Property features AI

Finance

• Other: Property sits on approximately 3.31 acres

Exterior

• Parking: Attached garage with garage door opener (1 garage space)
• Utilities: Private water; Septic
• Home design: Single family residence; One story
• Construction: Aluminum siding; Vinyl siding; Block foundation
• Exterior features: Deck; Porch; Exterior lighting; Fire pit; Exterior handicap accessible

Interior

• Kitchen: Gas oven; Microwave; Refrigerator; Eat-in kitchen layout
• Bedrooms: 2 bedrooms on the main level (sizes approx. 12x13 and 12x13)
• Flooring: Luxury vinyl plank in kitchen
• Bathrooms: 1 full bathroom (on main level)
• Heating & cooling: Forced air heating (Propane); Central air conditioning
• Interior features: Attic access; Eat-in kitchen
• Laundry & utility: Washer; Dryer; Electric water heater

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $215k.

Deal economics

• At list price, monthly cash flow is $-553 ($-7k/yr) — negative.
• To cash-flow at today's rent, offer at most $117k (45.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $97k (55.1% below list).
• Recommended offer: $97k (55.1% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads: area grade D — affects rentability + tenant quality, not the cash-flow math above.
• Cloverdale Community Schools (rural): math 36% / reading 40% proficiency, ranked #167 of 301 in IN (top 56%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 29 active listings in the ZIP; 120 units permitted in Owen County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $23k of equity ($1k loan paydown + $22k appreciation (10.0% local appreciation)).
• Owen County population projected at -30% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• By year 2, paydown + projected appreciation supports a ~$37k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.
• 5 sale attempts since 23y 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 $175k; 23% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Recommended offer $96,597 (55.1% 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 1974 — 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: 0.45% ✗
• Cap rate: 3.21%
• Cash-on-cash: -11.02%
• DSCR: 0.51
• GRM: 18.5

CMA / ARV

• ARV (median comp): $403,735
• List price: $215,000
• Delta: -45.53%
• Verdict: UNDERPRICED
• Comps: 3 within 2.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 16.5%
• Equity multiple: 2.36×
• Total profit: $81,800
• Equity at exit: $193,689

10-year hold

• IRR: 15.8%
• Equity multiple: 5.46×
• Total profit: $268,395
• Equity at exit: $417,698

Cash invested: $60,200 (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 47868

• Home prices YoY: 9.8%
• Active inventory: 29
• Price-to-rent: 18.5×

Monthly cashflow live

• Estimated rent: $966 medium
• Mortgage (P&I): −$1,127
• Tax from tax record: −$99 /mo · $1,185/yr
• Insurance: −$90
• HOA: −$0
• Vacancy / Maint / Mgmt: −$203
• Net cashflow: $-553

Break-even live

Break-even rent $1,666

Max offer price $117,356

Occupancy floor —

Sensitivity live

Price	-10% $-431	-5% $-492	+0% $-553	+5% $-614	+10% $-674
Rent	-10% $-629	-5% $-591	+0% $-553	+5% $-515	+10% $-476
Rate	-1.0pp $-444	-0.5pp $-498	base $-553	+0.5pp $-608	+1.0pp $-665

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: $53,750
• Closing costs: $6,450
• Reserves months: —
• Total cash needed: —

Listing history 12 events

1. 2026-06-18
   days on market $215,000 Active 6 DOM
2. 2026-06-17
   days on market $215,000 Active 5 DOM
3. 2026-06-16
   days on market $215,000 Active 4 DOM
4. 2026-06-15
   days on market $215,000 Active 3 DOM
5. 2026-06-13
   pricestatusdays on marketlisting id $215,000 Active 1 DOM
6. 2026-05-05
   status Pending 1871-char remark
7. 2026-04-29
   listed $219,900 Active 1871-char remark
8. 2024-05-14
   soldstatus $175,000
9. 2013-12-31
   historical
10. 2013-09-05
    listed $75,000
11. 2003-10-15
    soldstatus $86,000
12. 2003-08-14
    listed $90,500

ⓘ 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: $1,185 · $99/mo
• Projected year-2 tax: $1,506 · $126/mo
• Expected delta: +$321/yr (+$27/mo · 27.1%)

ⓘ 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 ≥103°F today · 18 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: $11,592
• − Mortgage interest: −$12,043
• − Property taxes: −$1,185
• − Insurance: −$1,075
• − Repairs & maintenance: −$927
• − Management: −$927
• − Depreciation: −$6,255
• Taxable loss: −$10,821
• Est. tax savings @ 24.0%: +$2,597
• After-tax cash flow: $-4,036/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: Cloverdale Community Schools
• NCES district ID: 1802220
• Math proficiency: 36% ▼ -16.00%
• Reading proficiency: 40% ▼ -14.00%
• Median HH income: $44,267
• Composite: 32.28/100
• National rank: #5753
• State rank: #167 of 301 in IN

Livability — Poland

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• Population (ZIP): 2,870

Population outlook (Owen County) Hauer SSP2

• Today (2025): 19,045 people
• By 2030: 17,930 · -5.9%
• By 2040: 15,507 · -18.6%
• By 2050: 13,253 · -30.4%
• By 2075: 9,364 · -50.8%
• By 2100: 6,686 · -64.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (95%)
• Race & ethnicity: White 95% Black 3% Two or more races 1%
• Common ancestry: Iranian 2% Slovak 2% Lithuanian 1%
• Foreign-born: 1%
• Languages at home: 99% English-only · Tagalog/Filipino 1%

Political lean MEDSL · Owen

• 2024 margin: Solid R (+50.7) · D 23.8% · R 74.5% · Other 1.6%
• 2008→2024 swing: -40.3pp toward R · 2008: -10.3pp · 2024: -50.7pp
• All cycles: 2024: R+50.7 2020: R+49.1 2016: R+49.4 2012: R+27.6 2008: R+10.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 21.99%
• Current HPI: 246.3509
• 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

+137.6% since first listed

11 events — show timeline

• 2026-06-12 Listed $215,000 MIBOR as Distributed by MLS Grid
• 2026-05-26 Pending — MIBOR as Distributed by MLS Grid
• 2026-05-26 Listing Removed — MIBOR as Distributed by MLS Grid
• 2026-05-19 Relisted — MIBOR as Distributed by MLS Grid
• 2026-05-05 Pending — MIBOR as Distributed by MLS Grid
• 2026-04-29 Listed $219,900 MIBOR as Distributed by MLS Grid
• 2024-05-14 Sold (Public Records) $175,000 Public Records
• 2013-12-31 Listing Removed — MIBOR as Distributed by MLS Grid
• 2013-09-05 Listed $75,000 MIBOR as Distributed by MLS Grid
• 2003-10-15 Sold (MLS) $86,000 MIBOR as Distributed by MLS Grid
• 2003-08-14 Listed $90,500 MIBOR as Distributed by MLS Grid

Property tax history

+9.7%/yr

Latest (2024): $1,185 · -56.0% YoY. Source: county tax records.