314 W Warren St · Mitchell, IN 47446

$79,900

2 bd · 1.0 ba · 1,158 sqft · SingleFamily public records · 140 Days on market

Built 1861 6,534 sqft lot $69/sqft · 43% below area Est $140k · 43% under ↓ 11% since listing

---

Why this score? — see what drove the A- 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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +5.3/10.0
• Livability +3.5/5.0
• Schools +2.7/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

This ranch-style home is a fantastic opportunity for a rental, flip, or first home. With 3 bedrooms and 1 bathroom, it offers 1,158 square feet of living space on a . 15-acre lot, conveniently located near amenities. The property is being sold AS IS, so bring your vision and TLC to make it your dream space!

Key facts

• Ranch-style home
• 15-acre lot
• 6,534 sq ft lot

Tags

• RANCH-STYLE HOME
• 15-ACRE LOT

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $80k.

Deal economics

• At list price, monthly cash flow is $620 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $80k).
• Recommended offer: $70k (12.0% below list) — sets the bar for market timing.
• Cap rate 15.6% vs local median 5.6% in Mitchell — 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 (#187 in IN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime B; Watch: schools D, employment D, amenities F.
• Mitchell Community Schools (town): math 26% / reading 37% proficiency, ranked #230 of 301 in IN (top 76%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 61 active listings in the ZIP; 8 units permitted in Lawrence County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $1k of equity ($552 loan paydown + $492 appreciation (0.6% local appreciation)).
• Lawrence County population projected at -14% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (0.6% appreciation + 3.0% rent growth), your $22k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 140 days — a 12% lower offer ($70k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1861 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $70,312 (12.0% below list)

Questions for the listing agent

1. It's been on market 140 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 1861 — 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: 1.74% ✓
• Cap rate: 15.61%
• Cash-on-cash: 33.26%
• DSCR: 2.48
• GRM: 4.8

CMA / ARV

• ARV (median comp): $140,202
• List price: $79,900
• Delta: -43.01%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
610 W Frank St	0.30mi	2/1.5	1,200 (+4%)	4mo	$174,000	$145	75
515 W Vine St	0.35mi	3/1.0 (+1)	1,111 (-4%)	11mo	$80,000	$72	63
503 College Ave	0.43mi	3/2.0 (+1)	1,200 (+4%)	2mo	$220,000	$183	63
910 W Oak St	0.44mi	2/1.0	1,024 (-12%)	1mo	$149,000	$146	60
1336 N 9th St	0.63mi	3/1.0 (+1)	1,164 (+0%)	6mo	$75,000	$64	60
818 W Oak St	0.39mi	3/1.0 (+1)	1,065 (-8%)	8mo	$162,900	$153	56
507 College Ave	0.43mi	3/2.0 (+1)	1,200 (+4%)	12mo	$212,000	$177	55
509 N 8th St	0.46mi	2/1.0	1,057 (-9%)	12mo	$93,350	$88	54
714 W Curry St	0.71mi	3/1.0 (+1)	1,164 (+0%)	10mo	$90,000	$77	53
104 Rabbitsville Rd	0.48mi	3/1.5 (+1)	1,040 (-10%)	6mo	$163,000	$157	48
1016 Orchard St St	0.63mi	2/2.0	1,068 (-8%)	6mo	$169,000	$158	48
1206 W Brook St	0.69mi	3/1.0 (+1)	1,044 (-10%)	7mo	$90,000	$86	40

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

Projected returns pro-forma

0.62% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 35.0%
• Equity multiple: 2.76×
• Total profit: $39,473
• Equity at exit: $25,691

10-year hold

• IRR: 37.6%
• Equity multiple: 5.40×
• Total profit: $98,326
• Equity at exit: $32,946

Cash invested: $22,372 (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 47446

• Home prices YoY: 0.2%
• Active inventory: 61
• Price-to-rent: 4.8×

Monthly cashflow live

• Estimated rent: $1,391 medium
• Mortgage (P&I): −$419
• Tax from tax record: −$26 /mo · $314/yr
• Insurance: −$33
• HOA: −$0
• Vacancy / Maint / Mgmt: −$292
• Net cashflow: $620

Break-even live

Break-even rent $606

Max offer price $79,900

Occupancy floor 50%

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: $19,975
• Closing costs: $2,397
• Reserves months: —
• Total cash needed: —

Listing history 20 events

1. 2026-06-19
   days on market $79,900 Active 140 DOM
2. 2026-06-18
   price $79,900 Active 139 DOM
3. 2026-06-18
   days on market $84,900 Active 139 DOM
4. 2026-06-17
   days on market $84,900 Active 138 DOM
5. 2026-06-16
   days on market $84,900 Active 137 DOM
6. 2026-06-15
   days on market $84,900 Active 136 DOM
7. 2026-06-14
   days on market $84,900 Active 134 DOM
8. 2026-06-12
   days on market $84,900 Active 133 DOM
9. 2026-06-09
   days on market $84,900 Active 130 DOM
10. 2026-06-08
    days on market $84,900 Active 129 DOM
11. 2026-06-07
    days on market $84,900 Active 128 DOM
12. 2026-06-05
    days on market $84,900 Active 126 DOM
13. 2026-06-03
    days on market $84,900 Active 124 DOM
14. 2026-06-02
    days on market $84,900 Active 123 DOM
15. 2026-06-01
    days on market $84,900 Active 122 DOM
16. 2026-05-31
    days on market $84,900 Active 121 DOM
17. 2026-05-30
    days on market $84,900 Active 120 DOM
18. 2026-04-21
    price $84,900 308-char remark

    Show marketing remark (308 chars)

    This ranch-style home is a fantastic opportunity for a rental, flip, or first home. With 3 bedrooms and 1 bathroom, it offers 1,158 square feet of living space on a . 15-acre lot, conveniently located near amenities. The property is being sold AS IS, so bring your vision and TLC to make it your dream space!

19. 2026-02-13
    price $89,900 308-char remark

    Show marketing remark (308 chars)

    This ranch-style home is a fantastic opportunity for a rental, flip, or first home. With 3 bedrooms and 1 bathroom, it offers 1,158 square feet of living space on a . 15-acre lot, conveniently located near amenities. The property is being sold AS IS, so bring your vision and TLC to make it your dream space!

20. 2026-01-30
    listed $94,900 Active 308-char remark

    Show marketing remark (308 chars)

    This ranch-style home is a fantastic opportunity for a rental, flip, or first home. With 3 bedrooms and 1 bathroom, it offers 1,158 square feet of living space on a . 15-acre lot, conveniently located near amenities. The property is being sold AS IS, so bring your vision and TLC to make it your dream space!

ⓘ 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: $314 · $26/mo
• Projected year-2 tax: $496 · $41/mo
• Expected delta: +$183/yr (+$15/mo · 58.2%)

ⓘ 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 5/10 Major 7 d/yr ≥104°F today · 20 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: $16,687
• − Mortgage interest: −$4,476
• − Property taxes: −$314
• − Insurance: −$400
• − Repairs & maintenance: −$1,335
• − Management: −$1,335
• − Depreciation: −$2,324
• Taxable income: $6,503
• Est. tax owed @ 24.0%: −$1,561
• After-tax cash flow: $5,880/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: Mitchell Community Schools
• NCES district ID: 1806900
• Math proficiency: 26% ▼ -16.00%
• Reading proficiency: 37% ▼ -10.00%
• Median HH income: $43,994
• Composite: 26.83/100
• National rank: #7113
• State rank: #230 of 301 in IN

Livability — Mitchell

• Score: 69/100
• State rank: #187
• US rank: #8606

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Mitchell, IN
• Population (ZIP): 9,259

Population outlook (Lawrence County) Hauer SSP2

• Today (2025): 44,347 people
• By 2030: 43,331 · -2.3%
• By 2040: 40,887 · -7.8%
• By 2050: 38,297 · -13.6%
• By 2075: 32,479 · -26.8%
• By 2100: 26,051 · -41.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (93%)
• Race & ethnicity: White 93% Two or more races 4% Asian 2% Hispanic / Latino 1%
• Common ancestry: Italian 3% Slovak 2% Serbian 1%
• Foreign-born: 3% · Canada
• Languages at home: 96% English-only · Other Indo-European 2% Spanish 1%

Political lean MEDSL · Lawrence

• 2024 margin: Solid R (+51.0) · D 23.6% · R 74.6% · Other 1.7%
• 2008→2024 swing: -30.5pp toward R · 2008: -20.6pp · 2024: -51.0pp
• All cycles: 2024: R+51.0 2020: R+50.6 2016: R+51.5 2012: R+32.8 2008: R+20.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 0.62%
• Current HPI: 248.9604
• 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

-10.5% since first listed

3 events — show timeline

• 2026-04-21 Price Changed $84,900 IRMLS
• 2026-02-13 Price Changed $89,900 IRMLS
• 2026-01-30 Listed $94,900 IRMLS

Property tax history

-7.3%/yr

Latest (2025): $314 · -37.4% YoY. Source: county tax records.