1028 R St · Bedford, IN 47421

$147,500

3 bd · 2.0 ba · 1,680 sqft · SingleFamily public records · 187 Days on market

Built 1925 10,454 sqft lot $88/sqft · 20% below area Est $184k · 20% 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).

• Cash flow +19.4/30.0
• ARV discount +15.0/15.0
• DSCR +6.1/10.0
• 1% rule +4.7/10.0
• Livability +4.0/5.0
• Schools +3.2/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Cute little home in need of some cosmetic TLC. Major family issues arose and they didn't get to finish the makeover they started. 2 Bedrooms, 3 possible with a bedroom upstairs in finished attic space. Master Bedroom is fairly large with a full room walk in closet and two smaller closets! You'll love the tiled walk in shower. Dedicated laundry room / mud room with back door to decks and to the full privately fenced in back yard. You will love your outdoor spaces - covered front porch, side open deck or lower open patio area. Full unfinished basement is a blank slate to make it yours. 2016 complete remodel with new hvac, windows & doors; lighting, vanities and more. Hardwood floor in LR - was painted can be refinished and beautiful again.

Key facts

• Covered front porch
• Tiled walk in shower
• Side open deck

Tags

• TILED WALK IN SHOWER
• DEDICATED LAUNDRY ROOM
• PRIVATELY FENCED IN BACK YARD
• COVERED FRONT PORCH
• SIDE OPEN DECK
• LOWER OPEN PATIO AREA

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $148k.

Deal economics

• At list price, monthly cash flow is $164 ($2k/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 $143k (3.3% below list).
• Recommended offer: $130k (12.0% below list) — sets the bar for market timing.
• Cap rate 7.6% vs local median 4.2% in Bedford — 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 80/100 on livability (#23 in IN, #1,958 nationally) — a professional / high-income tenant draw. Strengths: crime A+, cost of living A+, housing A+; Watch: schools C-, employment D, commute F.
• North Lawrence Community Schools (rural): math 35% / reading 40% proficiency, ranked #170 of 301 in IN (top 56%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 158 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 8 units permitted in Lawrence County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Lawrence County population projected at -14% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 187 days — a 12% lower offer ($130k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 12y ago; this cycle's ask has dropped $22k (13%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $128k; 16% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1925 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $129,800 (12.0% below list)

Questions for the listing agent

1. It's been on market 187 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 1925 — 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. 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.
6. 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.
7. 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: 0.97% ✗
• Cap rate: 7.63%
• Cash-on-cash: 4.77%
• DSCR: 1.21
• GRM: 8.6

CMA / ARV

• ARV (median comp): $183,827
• List price: $147,500
• Delta: -19.76%
• 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
601 Q St	0.41mi	3/1.5	1,716 (+2%)	2mo	$231,000	$135	74
723 O St	0.37mi	3/2.0	1,585 (-6%)	8mo	$279,900	$177	66
1524 9th St	0.24mi	2/2.0 (-1)	1,752 (+4%)	13mo	$118,000	$67	66
1614 13th St	0.19mi	3/2.0	1,480 (-12%)	8mo	$165,000	$111	64
2003 13th St St	0.23mi	3/1.0	1,498 (-11%)	7mo	$105,000	$70	61
1618 P St	0.48mi	3/1.0	1,558 (-7%)	2mo	$220,000	$141	60
1111 N St	0.26mi	3/1.0	1,457 (-13%)	7mo	$190,000	$130	56
417 W Emerson St	0.60mi	3/2.0	1,840 (+10%)	2mo	$495,809	$269	55
1616 6th Street St	0.41mi	3/2.0	1,480 (-12%)	8mo	$192,900	$130	54
1308 19th St	0.72mi	3/2.0	1,804 (+7%)	9mo	$255,000	$141	47
403 M Street St	0.66mi	3/2.0	1,920 (+14%)	1mo	$70,000	$36	45
2503 Aruba Ct	0.74mi	3/2.0	1,451 (-14%)	2mo	$375,633	$259	41

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: -8.9%
• Equity multiple: 0.67×
• Total profit: $-13,458
• Equity at exit: $21,993

10-year hold

• IRR: 0.6%
• Equity multiple: 1.04×
• Total profit: $1,691
• Equity at exit: $12,753

Cash invested: $41,300 (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 47421

• Home prices YoY: -25.2%
• Active inventory: 158
• Price-to-rent: 8.6×

Monthly cashflow live

• Estimated rent: $1,426 medium
• Mortgage (P&I): −$774
• Tax from tax record: −$128 /mo · $1,532/yr
• Insurance: −$61
• HOA: −$0
• Vacancy / Maint / Mgmt: −$300
• Net cashflow: $164

Break-even live

Break-even rent $1,218

Max offer price $147,500

Occupancy floor 83%

Sensitivity live

Price	-10% $248	-5% $206	+0% $164	+5% $122	+10% $81
Rent	-10% $51	-5% $108	+0% $164	+5% $221	+10% $277
Rate	-1.0pp $238	-0.5pp $202	base $164	+0.5pp $126	+1.0pp $87

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: $36,875
• Closing costs: $4,425
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2115 G St Bedford, IN	3.0	2.0	1500	$1,750	$1.17	22d	1	1.17mi

Listing history 33 events

1. 2026-06-19
   days on market $147,500 Active 187 DOM
2. 2026-06-18
   days on market $147,500 Active 186 DOM
3. 2026-06-17
   days on market $147,500 Active 185 DOM
4. 2026-06-16
   days on market $147,500 Active 184 DOM
5. 2026-06-15
   days on market $147,500 Active 183 DOM
6. 2026-06-14
   days on market $147,500 Active 181 DOM
7. 2026-06-13
   days on market $147,500 Active 180 DOM
8. 2026-06-10
   days on market $147,500 Active 178 DOM
9. 2026-06-09
   days on market $147,500 Active 177 DOM
10. 2026-06-08
    days on market $147,500 Active 176 DOM
11. 2026-06-07
    days on market $147,500 Active 175 DOM
12. 2026-06-05
    days on market $147,500 Active 172 DOM
13. 2026-06-03
    days on market $147,500 Active 171 DOM
14. 2026-06-02
    days on market $147,500 Active 170 DOM
15. 2026-06-01
    days on market $147,500 Active 169 DOM
16. 2026-05-31
    days on market $147,500 Active 168 DOM
17. 2026-05-30
    days on market $147,500 Active 167 DOM
18. 2026-03-29
    status Active 753-char remark

    Show marketing remark (753 chars)

    Cute little home in need of some cosmetic TLC. Major family issues arose and they didn't get to finish the makeover they started. 2 Bedrooms, 3 possible with a bedroom upstairs in finished attic space. Master Bedroom is fairly large with a full room walk in closet and two smaller closets! You'll love the tiled walk in shower. Dedicated laundry room / mud room with back door to decks and to the full privately fenced in back yard. You will love your outdoor spaces - covered front porch, side open deck or lower open patio area. Full unfinished basement is a blank slate to make it yours. 2016 complete remodel with new hvac, windows & doors; lighting, vanities and more. Hardwood floor in LR - was painted can be refinished and beautiful again.

19. 2026-03-29
    price $147,500 753-char remark

    Show marketing remark (753 chars)

    Cute little home in need of some cosmetic TLC. Major family issues arose and they didn't get to finish the makeover they started. 2 Bedrooms, 3 possible with a bedroom upstairs in finished attic space. Master Bedroom is fairly large with a full room walk in closet and two smaller closets! You'll love the tiled walk in shower. Dedicated laundry room / mud room with back door to decks and to the full privately fenced in back yard. You will love your outdoor spaces - covered front porch, side open deck or lower open patio area. Full unfinished basement is a blank slate to make it yours. 2016 complete remodel with new hvac, windows & doors; lighting, vanities and more. Hardwood floor in LR - was painted can be refinished and beautiful again.

20. 2026-03-20
    historical Active Under Contract 753-char remark

    Show marketing remark (753 chars)

    Cute little home in need of some cosmetic TLC. Major family issues arose and they didn't get to finish the makeover they started. 2 Bedrooms, 3 possible with a bedroom upstairs in finished attic space. Master Bedroom is fairly large with a full room walk in closet and two smaller closets! You'll love the tiled walk in shower. Dedicated laundry room / mud room with back door to decks and to the full privately fenced in back yard. You will love your outdoor spaces - covered front porch, side open deck or lower open patio area. Full unfinished basement is a blank slate to make it yours. 2016 complete remodel with new hvac, windows & doors; lighting, vanities and more. Hardwood floor in LR - was painted can be refinished and beautiful again.

21. 2026-02-27
    price $155,000 753-char remark

    Show marketing remark (753 chars)

    Cute little home in need of some cosmetic TLC. Major family issues arose and they didn't get to finish the makeover they started. 2 Bedrooms, 3 possible with a bedroom upstairs in finished attic space. Master Bedroom is fairly large with a full room walk in closet and two smaller closets! You'll love the tiled walk in shower. Dedicated laundry room / mud room with back door to decks and to the full privately fenced in back yard. You will love your outdoor spaces - covered front porch, side open deck or lower open patio area. Full unfinished basement is a blank slate to make it yours. 2016 complete remodel with new hvac, windows & doors; lighting, vanities and more. Hardwood floor in LR - was painted can be refinished and beautiful again.

22. 2026-02-24
    status Active 753-char remark

    Show marketing remark (753 chars)

    Cute little home in need of some cosmetic TLC. Major family issues arose and they didn't get to finish the makeover they started. 2 Bedrooms, 3 possible with a bedroom upstairs in finished attic space. Master Bedroom is fairly large with a full room walk in closet and two smaller closets! You'll love the tiled walk in shower. Dedicated laundry room / mud room with back door to decks and to the full privately fenced in back yard. You will love your outdoor spaces - covered front porch, side open deck or lower open patio area. Full unfinished basement is a blank slate to make it yours. 2016 complete remodel with new hvac, windows & doors; lighting, vanities and more. Hardwood floor in LR - was painted can be refinished and beautiful again.

23. 2026-01-22
    historical Active Under Contract 753-char remark

    Show marketing remark (753 chars)

    Cute little home in need of some cosmetic TLC. Major family issues arose and they didn't get to finish the makeover they started. 2 Bedrooms, 3 possible with a bedroom upstairs in finished attic space. Master Bedroom is fairly large with a full room walk in closet and two smaller closets! You'll love the tiled walk in shower. Dedicated laundry room / mud room with back door to decks and to the full privately fenced in back yard. You will love your outdoor spaces - covered front porch, side open deck or lower open patio area. Full unfinished basement is a blank slate to make it yours. 2016 complete remodel with new hvac, windows & doors; lighting, vanities and more. Hardwood floor in LR - was painted can be refinished and beautiful again.

24. 2026-01-09
    price $163,000 753-char remark

    Show marketing remark (753 chars)

    Cute little home in need of some cosmetic TLC. Major family issues arose and they didn't get to finish the makeover they started. 2 Bedrooms, 3 possible with a bedroom upstairs in finished attic space. Master Bedroom is fairly large with a full room walk in closet and two smaller closets! You'll love the tiled walk in shower. Dedicated laundry room / mud room with back door to decks and to the full privately fenced in back yard. You will love your outdoor spaces - covered front porch, side open deck or lower open patio area. Full unfinished basement is a blank slate to make it yours. 2016 complete remodel with new hvac, windows & doors; lighting, vanities and more. Hardwood floor in LR - was painted can be refinished and beautiful again.

25. 2025-12-14
    listed $169,000 Active 753-char remark

    Show marketing remark (753 chars)

    Cute little home in need of some cosmetic TLC. Major family issues arose and they didn't get to finish the makeover they started. 2 Bedrooms, 3 possible with a bedroom upstairs in finished attic space. Master Bedroom is fairly large with a full room walk in closet and two smaller closets! You'll love the tiled walk in shower. Dedicated laundry room / mud room with back door to decks and to the full privately fenced in back yard. You will love your outdoor spaces - covered front porch, side open deck or lower open patio area. Full unfinished basement is a blank slate to make it yours. 2016 complete remodel with new hvac, windows & doors; lighting, vanities and more. Hardwood floor in LR - was painted can be refinished and beautiful again.

26. 2019-09-16
    soldstatus $127,500
27. 2019-09-13
    soldstatus $127,500 698-char remark

    Show marketing remark (698 chars)

    Absolutely Adorable Home Completely Remodeled in 2016. This 3 bedroom, 2 bath over a full unfinished basement features hardwood floors, concrete countertops, stainless steel appliances, stand up tiled shower, and is all ready for you to call HOME! The main level bedroom with ensuite bathroom features a charming reading nook & walk-in closet area. Additional features include: covered front porch, back deck, and laundry on main level. 2016 Remodel included, (but is not limited to) the following: New drywall, windows, doors, kitchen cabinets, countertops throughout, vanities, tiled walk-in shower, lighting, HVAC and much more! Seller just installed a wooden privacy fence in backyard.

28. 2019-04-05
    listed $129,900 698-char remark

    Show marketing remark (698 chars)

    Absolutely Adorable Home Completely Remodeled in 2016. This 3 bedroom, 2 bath over a full unfinished basement features hardwood floors, concrete countertops, stainless steel appliances, stand up tiled shower, and is all ready for you to call HOME! The main level bedroom with ensuite bathroom features a charming reading nook & walk-in closet area. Additional features include: covered front porch, back deck, and laundry on main level. 2016 Remodel included, (but is not limited to) the following: New drywall, windows, doors, kitchen cabinets, countertops throughout, vanities, tiled walk-in shower, lighting, HVAC and much more! Seller just installed a wooden privacy fence in backyard.

29. 2016-11-14
    soldstatus $110,000
30. 2016-11-09
    soldstatus $110,000
31. 2016-08-01
    listed $114,900
32. 2015-06-23
    soldstatus $16,000
33. 2014-12-23
    listed $20,000

ⓘ 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: $1,532 · $128/mo
• Projected year-2 tax: $1,532 · $128/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 5/10 Major 7 d/yr ≥104°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 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $17,116
• − Mortgage interest: −$8,262
• − Property taxes: −$1,532
• − Insurance: −$738
• − Repairs & maintenance: −$1,369
• − Management: −$1,369
• − Depreciation: −$4,291
• Taxable loss: −$445
• Est. tax savings @ 24.0%: +$107
• After-tax cash flow: $2,077/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: North Lawrence Community Schools
• NCES district ID: 1807860
• Math proficiency: 35% ▼ -2.00%
• Reading proficiency: 40% ▼ -3.00%
• Median HH income: $44,566
• Composite: 31.88/100
• National rank: #5864
• State rank: #170 of 301 in IN

Livability — Bedford

• Score: 80/100
• State rank: #23
• US rank: #1958

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Bedford, IN
• County: Lawrence County · 27,599 people
• City population: 27,599
• Metro: Bedford, IN
• Population (ZIP): 27,599
• Household income: $68,108
• Rent vs Own: 20.0% rent · 80.0% own
• Severe rent burden: 507.0

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 (94%)
• Race & ethnicity: White 94% Two or more races 4% Hispanic / Latino 2%
• Common ancestry: Slovak 3% Italian 2% Scotch-Irish 1%
• Foreign-born: 1% · Canada
• Languages at home: 99% English-only · 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: ▼ -81.32%
• Current HPI: 240.959
• Rent YoY: —
• Metro: Bedford, 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

+637.5% since first listed

16 events — show timeline

• 2026-03-29 Relisted — IRMLS
• 2026-03-29 Price Changed $147,500 IRMLS
• 2026-03-20 Contingent — IRMLS
• 2026-02-27 Price Changed $155,000 IRMLS
• 2026-02-24 Relisted — IRMLS
• 2026-01-22 Contingent — IRMLS
• 2026-01-09 Price Changed $163,000 IRMLS
• 2025-12-14 Listed $169,000 IRMLS
• 2019-09-16 Sold (Public Records) $127,500 Public Records
• 2019-09-13 Sold (MLS) $127,500 IRMLS
• 2019-04-05 Listed $129,900 IRMLS
• 2016-11-14 Sold (Public Records) $110,000 Public Records
• 2016-11-09 Sold (MLS) $110,000 IRMLS
• 2016-08-01 Listed $114,900 IRMLS
• 2015-06-23 Sold (MLS) $16,000 IRMLS
• 2014-12-23 Listed $20,000 IRMLS

Property tax history

+11.9%/yr

Latest (2025): $1,532 · -4.8% YoY. Source: county tax records.