112 W Pike St · Vevay, IN 47043

$144,900

1 bd · 1.5 ba · 1,024 sqft · SingleFamily · 142 Days on market

Built 1849 Good condition 1,742 sqft lot $142/sqft · at area comps Est $144k · at est. ↓ 3% since listing

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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 +20.8/30.0
• Appreciation +9.1/10.0
• ARV discount +7.2/15.0
• DSCR +6.6/10.0
• 1% rule +5.5/10.0
• Condition / age +4.0/5.0
• Livability +3.0/5.0
• Rent growth +2.5/5.0
• Schools +2.4/10.0

Listing remarks MLS

Live in one side and work from the other or rent out one or both sides for business. The possibilities are many! Commercially zoned building with living quarters. One bedroom, 1 1/2 baths with kitchen and living and/or office spaces.

Key facts

• Living quarters
• Kitchen
• Office spaces

Tags

• COMMERCIALLY ZONED BUILDING
• LIVING QUARTERS
• KITCHEN
• OFFICE SPACES

What this means for you Summary

Snapshot

• This is a 1-bed/1.5-bath single-family listed at $145k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $199 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $145k).
• Recommended offer: $128k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 59/100 on livability (#555 in IN) — a working-class tenant base; expect higher turnover. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F, employment F.
• Switzerland County School Corporation (rural): math 25% / reading 31% proficiency, ranked #254 of 301 in IN (top 84%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Switzerland Co Middle School (math 17% / reading 28%, grade F, #266 of 330 statewide, top 81%, 244 students, 54% FRL); Switzerland Co Senior High School (math 22% / reading 47%, grade F, #270 of 369 statewide, top 77%, 435 students, 50% FRL).
• Market conditions: 35 active listings in the ZIP; 80 units permitted in Switzerland County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $13k of equity ($1k loan paydown + $12k appreciation (8.2% local appreciation)).
• Switzerland County population projected at -14% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (8.2% appreciation + 3.0% rent growth), your $41k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 142 days — a 12% lower offer ($128k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1849 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $127,512 (12.0% below list)

Questions for the listing agent

1. It's been on market 142 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1849 — 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: 1.05% ✓
• Cap rate: 7.94%
• Cash-on-cash: 5.88%
• DSCR: 1.26
• GRM: 7.9

CMA / ARV

• ARV (median comp): $144,031
• List price: $144,900
• Delta: 0.60%
• Verdict: FAIR
• Comps: 16 within 1.0 mi

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
112 W Pike St	0.00mi	1/1.5	1,024 (0%)	0mo	$144,900	$142	100
405 Vineyard St	0.23mi	2/1.0 (+1)	959 (-6%)	10mo	$105,000	$109	63
503 W Pike St	0.24mi	2/1.0 (+1)	1,120 (+9%)	22mo	$130,000	$116	47
201 E Cedar Ave	0.52mi	2/1.0 (+1)	1,146 (+12%)	12mo	$190,000	$166	39

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

Projected returns pro-forma

8.15% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 24.8%
• Equity multiple: 2.82×
• Total profit: $73,737
• Equity at exit: $111,534

10-year hold

• IRR: 22.4%
• Equity multiple: 6.04×
• Total profit: $204,641
• Equity at exit: $222,791

Cash invested: $40,572 (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 47043

• Home prices YoY: 4.0%
• Active inventory: 35
• Price-to-rent: 7.9×

Monthly cashflow live

• Estimated rent: $1,519 medium
• Mortgage (P&I): −$760
• Tax est. 1.5%: −$181 /mo · $2,174/yr
• Insurance: −$60
• HOA: −$0
• Vacancy / Maint / Mgmt: −$319
• Net cashflow: $199

Break-even live

Break-even rent $1,268

Max offer price $144,900

Occupancy floor 82%

Sensitivity live

Price	-10% $299	-5% $249	+0% $199	+5% $149	+10% $99
Rent	-10% $79	-5% $139	+0% $199	+5% $259	+10% $319
Rate	-1.0pp $272	-0.5pp $236	base $199	+0.5pp $161	+1.0pp $123

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: $36,225
• Closing costs: $4,347
• Reserves months: —
• Total cash needed: —

Listing history 3 events

1. 2026-03-23
   price $144,900 233-char remark

   Show marketing remark (233 chars)

   Live in one side and work from the other or rent out one or both sides for business. The possibilities are many! Commercially zoned building with living quarters. One bedroom, 1 1/2 baths with kitchen and living and/or office spaces.

2. 2026-01-07
   listed $149,900 Active 233-char remark

   Show marketing remark (233 chars)

   Live in one side and work from the other or rent out one or both sides for business. The possibilities are many! Commercially zoned building with living quarters. One bedroom, 1 1/2 baths with kitchen and living and/or office spaces.

3. 2025-07-28
   price $149,900

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $18,230
• − Mortgage interest: −$8,117
• − Property taxes: −$2,174
• − Insurance: −$724
• − Repairs & maintenance: −$1,458
• − Management: −$1,458
• − Depreciation: −$4,215
• Taxable income: $83
• Est. tax owed @ 24.0%: −$20
• After-tax cash flow: $2,365/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.

Condition & rehab AI · 11 photos

Good 80/100 Cosmetic rehab

This single-family home is in good condition with modern updates and a good location. It's ready for a new owner to move in and enjoy.

Value-add opportunities

• Both Painting exterior brick — Enhances curb appeal and value
• Both Landscaping improvements — Enhances curb appeal and value
• Both Add a small front porch — Improves curb appeal and adds functionality

Renovation cost estimate screening

Value-add ROI direction

• Both Painting exterior brick — Enhances curb appeal and value ↑
• Both Landscaping improvements — Enhances curb appeal and value ↑
• Both Add a small front porch — Improves curb appeal and adds functionality ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Switzerland County School Corporation
• NCES district ID: 1811220
• Math proficiency: 25% ▼ -10.00%
• Reading proficiency: 31% ▼ -9.00%
• Median HH income: $44,127
• Composite: 23.96/100
• National rank: #7780
• State rank: #254 of 301 in IN

Livability — Vevay

• Score: 59/100
• State rank: #555
• US rank: #19928

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: Vevay, IN
• Population (ZIP): 4,851

Population outlook (Switzerland County) Hauer SSP2

• Today (2025): 10,189 people
• By 2030: 9,909 · -2.7%
• By 2040: 9,347 · -8.3%
• By 2050: 8,721 · -14.4%
• By 2075: 7,542 · -26.0%
• By 2100: 6,601 · -35.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (96%)
• Race & ethnicity: White 96% Two or more races 2%
• Common ancestry: Slovak 3% Italian 2% Serbian 2%
• Foreign-born: 1% · Canada
• Languages at home: 96% English-only · German/W. Germanic 4% Spanish 0%

Political lean MEDSL · Switzerland

• 2024 margin: Solid R (+57.5) · D 20.5% · R 78.0% · Other 1.5%
• 2008→2024 swing: -49.2pp toward R · 2008: -8.3pp · 2024: -57.5pp
• All cycles: 2024: R+57.5 2020: R+52.2 2016: R+44.7 2012: R+12.8 2008: R+8.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 8.15%
• Current HPI: 212.0481
• 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

-3.3% since first listed

3 events — show timeline

• 2026-03-23 Price Changed $144,900 SEIBR
• 2026-01-07 Listed $149,900 SEIBR
• 2025-07-28 Price Changed $149,900 SIRA