781 Northern Acres Dr

Ladoga, IN 47954

$151,800C+

3 bd · 1.0 ba · 1,456 sqft · Built 2003 · SingleFamily · Active · 286 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,209/mo
• Mortgage (P&I): −$796
• Tax + insurance: −$105
• HOA: −$0
• Vac / Maint / Mgmt: −$254
• Net cashflow: $55/mo
• Annual: $655/yr
• Cap rate: 6.72%
• Cash-on-cash: 1.54%
• DSCR: 1.07
• 1% rule: 0.80%
• Cash to close: $42,504

Investor read

• This is a 3-bed/1.0-bath single-family listed at $152k.
• At list price, monthly cash flow is $55 ($655/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 $121k (20.4% below list).
• It's been on market 286 days — a 12% lower offer ($134k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $121k (20.4% below list) — sets the bar for 1% rule.
• In year one you build about $16k of equity ($1k loan paydown + $15k appreciation (10.0% local appreciation)).
• Location reads 67/100 on livability (#244 in IN) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: employment C-, amenities F, commute F.
• South Montgomery Community School Corporation (rural): math 52% / reading 49% proficiency, ranked #46 of 301 in IN (top 15%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 14 active listings in the ZIP; 52 units permitted in Montgomery County in 2024 (0 in 5+ unit buildings).
• Montgomery County population projected to shrink 9% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• 8 sale attempts since 8y ago; this cycle's ask has dropped $27k (15%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $111k; 37% above their basis — modest negotiation headroom, anchor on the comps not their cost.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $43k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$41k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Questions for listing agent

• It's been on market 286 days. Have you received any prior offers? Is the seller open to a 20% concession, seller financing, or rate buy-down credit?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
• 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.
• 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.
• 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.