698 Yandes St · Franklin, IN 46131

$250,000

4 bd · 2.5 ba · 2,354 sqft · SingleFamily public records · 185 Days on market

Built 1880 6,543 sqft lot Est $322k · 22% under

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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).

• ARV discount +15.0/15.0
• Cash flow +14.8/30.0
• DSCR +4.5/10.0
• Rent growth +3.7/5.0
• Schools +3.5/10.0
• 1% rule +3.4/10.0
• Livability +3.2/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Fantastic home in popular Franklin. Home has been completely remodeled inside and out. The house has a large, amazing kitchen and the baths are awesome as well. Home has new siding, windows, gutters, roof, kitchen, baths, flooring, etc. The home also boasts a 2-car garage with a second level that is ready for whatever your imagination has in mind. Within walking distance of downtown Franklin, come check this gem out.

Key facts

• Renovated home
• Historic franklin
• Detached garage

Tags

• RENOVATED HOME
• DETACHED GARAGE
• HISTORIC FRANKLIN

What this means for you Summary

Snapshot

• This is a 4-bed/2.5-bath single-family listed at $250k.

Deal economics

• At list price, monthly cash flow is $68 ($818/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $210k (15.9% below list).
• Recommended offer: $210k (15.9% below list) — sets the bar for 1% rule.
• Cap rate 6.6% vs local median 4.0% in Franklin — 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 65/100 on livability (#351 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.
• Franklin Community School Corporation (suburban): math 36% / reading 44% proficiency, ranked #133 of 301 in IN (top 44%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Franklin Community High School (math 29% / reading 69%, grade D, #136 of 369 statewide, top 37%, 1,610 students, 41% FRL).
• Market conditions: Rents rising fast (+4.7%/yr); 278 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 1,133 units permitted in Johnson County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $8k of value loss. Plan a longer hold.
• Johnson County population projected at +26% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 185 days — a 12% lower offer ($220k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 12y ago; this cycle's ask has dropped $30k (11%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1880 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $210,140 (15.9% below list)

Questions for the listing agent

1. It's been on market 185 days. Have you received any prior offers? Is the seller open to a 16% concession, seller financing, or rate buy-down credit?
2. Built in 1880 — 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: 0.84% ✗
• Cap rate: 6.62%
• Cash-on-cash: 1.17%
• DSCR: 1.05
• GRM: 9.9

CMA / ARV

• ARV (on-the-fly): $322,498
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
598 Kentucky St	0.20mi	4/2.0	2,260 (-4%)	0mo	$334,500	$148	82
484 E Jefferson St	0.43mi	3/2.0 (-1)	2,369 (+1%)	4mo	$325,000	$137	68
598 Johnson Ave	0.15mi	3/1.5 (-1)	2,133 (-9%)	4mo	$100,000	$47	65
96 Robinson St	0.35mi	3/2.0 (-1)	2,424 (+3%)	10mo	$198,000	$82	63
56 Central Ave	0.46mi	3/2.0 (-1)	2,416 (+3%)	7mo	$230,000	$95	62
1121 E Adams Dr	0.57mi	4/2.0	2,458 (+4%)	6mo	$510,000	$207	59
751 Graham St	0.26mi	3/1.0 (-1)	2,116 (-10%)	6mo	$208,000	$98	55
150 E King St	0.34mi	3/2.0 (-1)	2,097 (-11%)	5mo	$340,000	$162	54
356 N Main St	0.36mi	3/1.5 (-1)	2,576 (+9%)	7mo	$187,000	$73	53
199 Walnut St	0.59mi	3/2.0 (-1)	2,520 (+7%)	2mo	$344,000	$137	52
926 Walnut St	0.56mi	4/2.0	2,112 (-10%)	7mo	$294,000	$139	49
250 W King St	0.57mi	4/3.0	2,606 (+11%)	8mo	$500,000	$192	47

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 · 4.68% rent growth · sell at horizon

5-year hold

• IRR: -12.7%
• Equity multiple: 0.53×
• Total profit: $-32,611
• Equity at exit: $37,276

10-year hold

• IRR: -1.5%
• Equity multiple: 0.89×
• Total profit: $-7,682
• Equity at exit: $21,615

Cash invested: $70,000 (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 46131

• Home prices YoY: -27.8%
• Rents YoY: 4.7%
• Active inventory: 278
• Price-to-rent: 9.9×

Monthly cashflow live

• Estimated rent: $2,101 high
• Mortgage (P&I): −$1,311
• Tax from tax record: −$177 /mo · $2,121/yr
• Insurance: −$104
• HOA: −$0
• Vacancy / Maint / Mgmt: −$441
• Net cashflow: $68

Break-even live

Break-even rent $2,015

Max offer price $250,000

Occupancy floor 92%

Sensitivity live

Price	-10% $210	-5% $139	+0% $68	+5% $-3	+10% $-73
Rent	-10% $-98	-5% $-15	+0% $68	+5% $151	+10% $234
Rate	-1.0pp $194	-0.5pp $132	base $68	+0.5pp $3	+1.0pp $-63

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: $62,500
• Closing costs: $7,500
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
954 Brookstone Dr Franklin, IN	4.0	3.0	2230	$1,750	$0.78	15d	1	0.88mi
954 Brookstone Dr Franklin, IN	4.0	2.5	2230	$1,750	$0.78	8d	1	0.88mi
978 Brookstone Dr Franklin, IN	3.0	2.5	2230	$1,876	$0.84	44d	1	0.90mi
1056 Oak Leaf Rd Franklin, IN	4.0	3.0	2418	$1,886	$0.78	24d	1	1.26mi
2230 Cedarmill Dr Franklin, IN	3.0	2.5	2067	$1,900	$0.92	44d	1	1.29mi
837 Colonial Way Franklin, IN	3.0	2.0	2913	$2,211	$0.76	18d	1	1.30mi

Listing history 25 events

1. 2026-03-15
   status Pending
2. 2026-01-30
   price $250,000
3. 2025-10-24
   price $270,000
4. 2025-09-11
   listed $280,000 Active
5. 2023-01-03
   soldstatus $249,900 Closed 425-char remark

   Show marketing remark (425 chars)

   Fantastic home in popular Franklin. Home has been completely remodeled inside and out. The house has a large, amazing kitchen and the baths are awesome as well. Home has new siding, windows, gutters, roof, kitchen, baths, flooring, etc. The home also boasts a 2-car garage with a second level that is ready for whatever your imagination has in mind. Within walking distance of downtown Franklin, come check this gem out.

6. 2022-11-26
   status Pending 425-char remark

   Show marketing remark (425 chars)

   Fantastic home in popular Franklin. Home has been completely remodeled inside and out. The house has a large, amazing kitchen and the baths are awesome as well. Home has new siding, windows, gutters, roof, kitchen, baths, flooring, etc. The home also boasts a 2-car garage with a second level that is ready for whatever your imagination has in mind. Within walking distance of downtown Franklin, come check this gem out.

7. 2022-11-11
   price $249,900 425-char remark

   Show marketing remark (425 chars)

   Fantastic home in popular Franklin. Home has been completely remodeled inside and out. The house has a large, amazing kitchen and the baths are awesome as well. Home has new siding, windows, gutters, roof, kitchen, baths, flooring, etc. The home also boasts a 2-car garage with a second level that is ready for whatever your imagination has in mind. Within walking distance of downtown Franklin, come check this gem out.

8. 2022-09-13
   listed $259,900 Active 425-char remark

   Show marketing remark (425 chars)

   Fantastic home in popular Franklin. Home has been completely remodeled inside and out. The house has a large, amazing kitchen and the baths are awesome as well. Home has new siding, windows, gutters, roof, kitchen, baths, flooring, etc. The home also boasts a 2-car garage with a second level that is ready for whatever your imagination has in mind. Within walking distance of downtown Franklin, come check this gem out.

9. 2022-05-12
   soldstatus $65,000 Closed 537-char remark

   Show marketing remark (537 chars)

   1880's charmer home with generous square footage that needs a lot of love and work, but oh so worth it!. So much potential. Mostly gutted & is a blank canvas. Renderings posted on wall to help with the 'vision', or there are lots of possibilities. The TWO story two car 624 SF garage is worth the price of admission. Upper 'guest room' & 'workshop' are rooms in the upstairs of the garage-possibly in-law potential?. Seller needs have changed; your gain. Three covered porches (back one enclosed). Handyman or investor special.

10. 2022-05-07
    status Pending 537-char remark

    Show marketing remark (537 chars)

    1880's charmer home with generous square footage that needs a lot of love and work, but oh so worth it!. So much potential. Mostly gutted & is a blank canvas. Renderings posted on wall to help with the 'vision', or there are lots of possibilities. The TWO story two car 624 SF garage is worth the price of admission. Upper 'guest room' & 'workshop' are rooms in the upstairs of the garage-possibly in-law potential?. Seller needs have changed; your gain. Three covered porches (back one enclosed). Handyman or investor special.

11. 2022-05-06
    status Active 537-char remark

    Show marketing remark (537 chars)

    1880's charmer home with generous square footage that needs a lot of love and work, but oh so worth it!. So much potential. Mostly gutted & is a blank canvas. Renderings posted on wall to help with the 'vision', or there are lots of possibilities. The TWO story two car 624 SF garage is worth the price of admission. Upper 'guest room' & 'workshop' are rooms in the upstairs of the garage-possibly in-law potential?. Seller needs have changed; your gain. Three covered porches (back one enclosed). Handyman or investor special.

12. 2022-03-26
    status Pending 537-char remark

    Show marketing remark (537 chars)

    1880's charmer home with generous square footage that needs a lot of love and work, but oh so worth it!. So much potential. Mostly gutted & is a blank canvas. Renderings posted on wall to help with the 'vision', or there are lots of possibilities. The TWO story two car 624 SF garage is worth the price of admission. Upper 'guest room' & 'workshop' are rooms in the upstairs of the garage-possibly in-law potential?. Seller needs have changed; your gain. Three covered porches (back one enclosed). Handyman or investor special.

13. 2022-03-24
    listed $74,900 Active 537-char remark

    Show marketing remark (537 chars)

    1880's charmer home with generous square footage that needs a lot of love and work, but oh so worth it!. So much potential. Mostly gutted & is a blank canvas. Renderings posted on wall to help with the 'vision', or there are lots of possibilities. The TWO story two car 624 SF garage is worth the price of admission. Upper 'guest room' & 'workshop' are rooms in the upstairs of the garage-possibly in-law potential?. Seller needs have changed; your gain. Three covered porches (back one enclosed). Handyman or investor special.

14. 2021-12-18
    soldstatus $60,000 Closed
15. 2021-12-06
    status Pending
16. 2021-12-02
    price $75,000
17. 2021-11-22
    price $85,000
18. 2021-11-13
    listed $95,000 Active
19. 2015-03-19
    soldstatus $21,658 Sold
20. 2015-03-10
    status Pending
21. 2015-03-07
    status Pending
22. 2015-02-02
    status Pending
23. 2015-01-13
    price $67,680
24. 2014-12-06
    price $84,600
25. 2014-10-09
    listed $94,000 Active

ⓘ 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: $2,121 · $177/mo
• Projected year-2 tax: $2,123 · $177/mo
• Expected delta: +$2/yr ($0/mo · 0.1%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone X (shaded) · 22% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 4/10 Moderate 7 d/yr ≥102°F today · 19 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 · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $25,217
• − Mortgage interest: −$14,004
• − Property taxes: −$2,121
• − Insurance: −$1,250
• − Repairs & maintenance: −$2,017
• − Management: −$2,017
• − Depreciation: −$7,273
• Taxable loss: −$3,466
• Est. tax savings @ 24.0%: +$832
• After-tax cash flow: $1,649/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: Franklin Community School Corporation
• NCES district ID: 1803690
• Math proficiency: 36% ▼ -11.00%
• Reading proficiency: 44% ▼ -8.00%
• Median HH income: $54,855
• Composite: 34.93/100
• National rank: #5066
• State rank: #133 of 301 in IN

Livability — Franklin

• Score: 65/100
• State rank: #351
• US rank: #13428

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Franklin, IN
• County: Johnson County · 154,261 people
• City population: 34,647
• Metro: Indianapolis-Carmel-Anderson, IN
• Population (ZIP): 34,647
• Household income: $85,076
• Rent vs Own: 28.4% rent · 71.6% own
• Severe rent burden: 984.0

Population outlook (Johnson County) Hauer SSP2

• Today (2025): 170,080 people
• By 2030: 179,983 · +5.8%
• By 2040: 198,580 · +16.8%
• By 2050: 214,661 · +26.2%
• By 2075: 247,990 · +45.8%
• By 2100: 257,821 · +51.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (92%)
• Race & ethnicity: White 92% Two or more races 4% Hispanic / Latino 2% Black 2%
• Common ancestry: Slovak 2% Italian 1% Serbian 1%
• Foreign-born: 2% · Canada
• Languages at home: 97% English-only · Spanish 2% Russian/Polish/Slavic 1% Other Asian/Pacific 1%

Political lean MEDSL · Johnson

• 2024 margin: Solid R (+34.3) · D 32.0% · R 66.3% · Other 1.7%
• 2008→2024 swing: -8.9pp toward R · 2008: -25.5pp · 2024: -34.3pp
• All cycles: 2024: R+34.3 2020: R+34.1 2016: R+42.5 2012: R+38.5 2008: R+25.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -90.53%
• Current HPI: 235.0009
• Rent YoY: ▲ 4.68%
• 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

+166.0% since first listed

25 events — show timeline

• 2026-03-15 Pending — MIBOR as Distributed by MLS Grid
• 2026-01-30 Price Changed $250,000 MIBOR as Distributed by MLS Grid
• 2025-10-24 Price Changed $270,000 MIBOR as Distributed by MLS Grid
• 2025-09-11 Listed $280,000 MIBOR as Distributed by MLS Grid
• 2023-01-03 Sold (MLS) $249,900 MIBOR as Distributed by MLS Grid
• 2022-11-26 Pending — MIBOR as Distributed by MLS Grid
• 2022-11-11 Price Changed $249,900 MIBOR as Distributed by MLS Grid
• 2022-09-13 Listed $259,900 MIBOR as Distributed by MLS Grid
• 2022-05-12 Sold (MLS) $65,000 MIBOR as Distributed by MLS Grid
• 2022-05-07 Pending — MIBOR as Distributed by MLS Grid
• 2022-05-06 Relisted — MIBOR as Distributed by MLS Grid
• 2022-03-26 Pending — MIBOR as Distributed by MLS Grid
• 2022-03-24 Listed $74,900 MIBOR as Distributed by MLS Grid
• 2021-12-18 Sold (MLS) $60,000 MIBOR as Distributed by MLS Grid
• 2021-12-06 Pending — MIBOR as Distributed by MLS Grid
• 2021-12-02 Price Changed $75,000 MIBOR as Distributed by MLS Grid
• 2021-11-22 Price Changed $85,000 MIBOR as Distributed by MLS Grid
• 2021-11-13 Listed $95,000 MIBOR as Distributed by MLS Grid
• 2015-03-19 Sold (MLS) $21,658 MIBOR as Distributed by MLS Grid
• 2015-03-10 Pending — MIBOR as Distributed by MLS Grid
• 2015-03-07 Pending — MIBOR as Distributed by MLS Grid
• 2015-02-02 Pending — MIBOR as Distributed by MLS Grid
• 2015-01-13 Price Changed $67,680 MIBOR as Distributed by MLS Grid
• 2014-12-06 Price Changed $84,600 MIBOR as Distributed by MLS Grid
• 2014-10-09 Listed $94,000 MIBOR as Distributed by MLS Grid

Property tax history

+0.2%/yr

Latest (2024): $2,121 · +59.1% YoY. Source: county tax records.