2508 N A St · Elwood, IN 46036

$100,000

3 bd · 1.0 ba · 1,482 sqft · SingleFamily public records · 1 Days on market

Built 1945 8,778 sqft lot Est $148k · 33% under

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Why this score? — see what drove the B 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
• DSCR +10.0/10.0
• 1% rule +8.2/10.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.6/10.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to your new home at 2508 N A St in Elwood! This inviting two-story home offers 1,873 square feet of comfortable living space. Vaulted ceilings on the main level create an open and spacious feel, adding warmth and character throughout the home. The residence features three bedrooms, including two tandem bedrooms upstairs, while the primary bedroom offers access to its own private deck making it the perfect spot to relax and unwind. A full bathroom on the main level is designed for everyday convenience, and the dedicated laundry room adds additional functionality. The thoughtful layout provides a nice separation between living and sleeping areas. Situated on a generous 8,778 square

Key facts

• Private deck
• Generous lot
• Storage shed

Tags

• VAULTED CEILINGS
• PRIVATE DECK
• DEDICATED LAUNDRY ROOM
• GENEROUS LOT
• OUTDOOR SPACE
• STORAGE SHED

Property features AI

Exterior

• Parking: Guest street parking; Alley access
• Utilities: Public water; Municipal sewer; Electricity connected; Natural gas connected; Cable connected
• Home design: Single family residence; Two levels (two-story)
• Construction: Vinyl siding; Block foundation
• Exterior features: Deck; Patio; Fire pit; Storage shed; Sidewalks

Interior

• Kitchen: Electric oven; Refrigerator; Eat-in kitchen layout; Pantry
• Bedrooms: Three bedrooms total — one on the main level and two on the upper level; Primary bedroom with deck access
• Bathrooms: One full bathroom (main level)
• Heating & cooling: Forced air heating (natural gas); Window air conditioning units
• Interior features: Vaulted ceilings; Eat-in kitchen; Pantry; Utility/other bedroom on main level
• Laundry & utility: Dedicated laundry room (main level)

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $100k.

Deal economics

• At list price, monthly cash flow is $433 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $100k).
• Cap rate 11.5% vs local median 5.3% in Elwood — 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 62/100 on livability (#482 in IN) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F, employment D-.
• Elwood Community School Corporation (town): math 18% / reading 19% proficiency, ranked #283 of 301 in IN (top 94%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Elwood Elementary School (445 students, 56% FRL); Elwood Jr-Sr High School (math 10% / reading 23%, grade F, #353 of 369 statewide, top 96%, 633 students, 58% FRL) — zoned schools at 56% FRL track the district average.
• Market conditions: 100 active listings in the ZIP; 9 comparable units currently listed for rent nearby; rentals leasing fast (median 3d on market — plan ~1-2 weeks tenant-placement turnaround); 184 units permitted in Madison County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $691 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Madison County population projected at -14% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $28k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• 9 sale attempts since 24y 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 $24k; list at $100k implies a 308% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1945 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $100,000

Questions for the listing agent

1. Built in 1945 — 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. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
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: 1.32% ✓
• Cap rate: 11.49%
• Cash-on-cash: 18.56%
• DSCR: 1.83
• GRM: 6.3

CMA / ARV

• ARV (on-the-fly): $148,200
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2719 N A St	0.11mi	3/1.0	1,420 (-4%)	4mo	$199,900	$141	84
2024 N B St	0.31mi	2/1.0 (-1)	1,456 (-2%)	0mo	$94,000	$65	77
2107 N C St	0.28mi	4/1.5 (+1)	1,488 (+0%)	5mo	$69,000	$46	75
2304 S D St	0.36mi	3/1.0	1,336 (-10%)	1mo	$164,900	$123	66
2415 N C St	0.12mi	3/1.0	1,320 (-11%)	14mo	$125,000	$95	64
1925 N B St	0.40mi	3/1.0	1,376 (-7%)	8mo	$172,500	$125	63
2328 S F St	0.45mi	3/2.0	1,420 (-4%)	9mo	$120,000	$85	61
2521 S A St	0.16mi	2/1.0 (-1)	1,276 (-14%)	6mo	$35,500	$28	60
2712 S A St	0.18mi	3/1.0	1,293 (-13%)	13mo	$155,000	$120	59
2123 N F St	0.37mi	3/1.0	1,340 (-10%)	11mo	$118,500	$88	58
321 S 23rd St	0.31mi	4/1.5 (+1)	1,683 (+14%)	10mo	$168,500	$100	48
1813 N F St	0.59mi	3/1.0	1,296 (-13%)	14mo	$159,900	$123	40

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: 10.3%
• Equity multiple: 1.41×
• Total profit: $11,352
• Equity at exit: $14,910

10-year hold

• IRR: 19.3%
• Equity multiple: 2.62×
• Total profit: $45,291
• Equity at exit: $8,646

Cash invested: $28,000 (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 46036

• Home prices YoY: -18.3%
• Active inventory: 100
• Price-to-rent: 6.3×

Monthly cashflow live

• Estimated rent: $1,324 high
• Mortgage (P&I): −$524
• Tax from tax record: −$47 /mo · $566/yr
• Insurance: −$42
• HOA: −$0
• Vacancy / Maint / Mgmt: −$278
• Net cashflow: $433

Break-even live

Break-even rent $776

Max offer price $100,000

Occupancy floor 62%

Sensitivity live

Price	-10% $490	-5% $461	+0% $433	+5% $405	+10% $376
Rent	-10% $328	-5% $381	+0% $433	+5% $485	+10% $538
Rate	-1.0pp $483	-0.5pp $459	base $433	+0.5pp $407	+1.0pp $381

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: $25,000
• Closing costs: $3,000
• Reserves months: —
• Total cash needed: —

Rent comps 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1636 S B St Elwood, IN	3.0	2.0	1403	$1,300	$0.93	44d	1	0.59mi
209 S 16th St Elwood, IN	2.0	2.0	1060	$1,135	$1.07	2d	1	0.66mi
1349 S B St Unit 4 Elwood, IN	2.0	1.0	950	$1,400	$1.47	12d	1	0.82mi
1325 S G St Elwood, IN	3.0	1.0	1504	$1,200	$0.80	2d	1	1.00mi
1019 N 9th St Elwood, IN	3.0	2.5	1762	$1,750	$0.99	2d	1	1.29mi
1021 N 9th St Elwood, IN	3.0	2.5	1725	$1,750	$1.01	2d	1	1.29mi
1023 N 9th St Elwood, IN	3.0	2.5	1762	$1,750	$0.99	15d	1	1.29mi
1025 N 9th St Elwood, IN	3.0	2.5	1762	$1,750	$0.99	2d	1	1.29mi
1775 Antler Ct Elwood, IN	2.0	1.0	1000	$935	$0.94	2d	1	1.47mi

Listing history 3 events

1. 2026-06-15
   status $100,000 Pending 1 DOM
2. 2026-06-13
   remarks 699-char remark
3. 2026-06-13
   listed $100,000 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: $566 · $47/mo
• Projected year-2 tax: $708 · $59/mo
• Expected delta: +$142/yr (+$12/mo · 25.1%)

ⓘ 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 ≥101°F today · 18 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 4/10 Moderate 3 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,894
• − Mortgage interest: −$5,602
• − Property taxes: −$566
• − Insurance: −$500
• − Repairs & maintenance: −$1,272
• − Management: −$1,272
• − Depreciation: −$2,909
• Taxable income: $3,774
• Est. tax owed @ 24.0%: −$906
• After-tax cash flow: $4,291/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: Elwood Community School Corporation
• NCES district ID: 1803300
• Math proficiency: 18% ▼ -9.00%
• Reading proficiency: 19% ▼ -9.00%
• Median HH income: $38,757
• Composite: 15.6/100
• National rank: #9292
• State rank: #283 of 301 in IN

Livability — Elwood

• Score: 62/100
• State rank: #482
• US rank: #17050

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Elwood, IN
• County: Madison County · 69,445 people
• City population: 11,683
• Metro: Indianapolis-Carmel-Anderson, IN
• Population (ZIP): 11,683
• Household income: $62,074
• Rent vs Own: 27.1% rent · 72.9% own
• Severe rent burden: 225.0

Population outlook (Madison County) Hauer SSP2

• Today (2025): 125,800 people
• By 2030: 122,640 · -2.5%
• By 2040: 115,420 · -8.3%
• By 2050: 108,148 · -14.0%
• By 2075: 91,838 · -27.0%
• By 2100: 75,670 · -39.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (94%)
• Race & ethnicity: White 94% Hispanic / Latino 3% Two or more races 3%
• Common ancestry: Iranian 2% Italian 2% Slovak 1%
• Foreign-born: 1% · Canada
• Languages at home: 97% English-only · Spanish 2%

Political lean MEDSL · Madison

• 2024 margin: Strong R (+26.9) · D 35.6% · R 62.5% · Other 1.9%
• 2008→2024 swing: -33.5pp toward R · 2008: 6.5pp · 2024: -26.9pp
• All cycles: 2024: R+26.9 2020: R+22.6 2016: R+25.7 2012: R+4.5 2008: D+6.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -70.59%
• Current HPI: 314.8526
• Rent YoY: —
• Metro: Indianapolis-Carmel-Anderson, IN
• 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

+301.6% since first listed

21 events — show timeline

• 2026-06-13 Pending — MIBOR as Distributed by MLS Grid
• 2026-06-12 Listed $100,000 MIBOR as Distributed by MLS Grid
• 2024-09-13 Pending — MIBOR as Distributed by MLS Grid
• 2024-09-13 Listing Removed — MIBOR as Distributed by MLS Grid
• 2024-09-10 Listed $110,000 MIBOR as Distributed by MLS Grid
• 2024-01-17 Price Changed $119,700 MIBOR as Distributed by MLS Grid
• 2024-01-04 Price Changed $119,900 MIBOR as Distributed by MLS Grid
• 2023-09-13 Listed $125,000 MIBOR as Distributed by MLS Grid
• 2009-02-12 Listing Removed — MIBOR as Distributed by MLS Grid
• 2009-02-09 Sold (MLS) $24,500 MIBOR as Distributed by MLS Grid
• 2008-12-07 Listed $28,900 MIBOR as Distributed by MLS Grid
• 2008-11-15 Listing Removed — MIBOR as Distributed by MLS Grid
• 2008-07-11 Listed $30,500 MIBOR as Distributed by MLS Grid
• 2008-07-07 Listing Removed — MIBOR as Distributed by MLS Grid
• 2008-04-02 Listed $38,000 MIBOR as Distributed by MLS Grid
• 2008-02-22 Listing Removed — MIBOR as Distributed by MLS Grid
• 2007-09-13 Listed $49,900 MIBOR as Distributed by MLS Grid
• 2005-05-22 Listing Removed — MIBOR as Distributed by MLS Grid
• 2004-11-23 Listed $87,500 MIBOR as Distributed by MLS Grid
• 2002-03-15 Sold (MLS) $23,500 MIBOR as Distributed by MLS Grid
• 2002-02-22 Listed $24,900 MIBOR as Distributed by MLS Grid

Property tax history

+5.9%/yr

Latest (2024): $566 · +8.0% YoY. Source: county tax records.