57 14th St · Franklin, IN 46131

$165,000

3 bd · 1.0 ba · 864 sqft · SingleFamily public records · 7 Days on market

Built 1950 7,187 sqft lot Est $167k · at est.

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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 +23.0/30.0
• ARV discount +8.0/15.0
• DSCR +7.4/10.0
• 1% rule +5.1/10.0
• Rent growth +3.7/5.0
• Schools +3.5/10.0
• Livability +3.2/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Charming ranch home in Popular Franklin, Indiana. 3 bedrooms/1 Bath with a large Family Room for gatherings. Fenced in Back yard with a shed will keep you and pets busy while gardening. Updated flooring/Roof.

Key facts

• 7,187 sq ft lot
• Built 1950
• Listed 7 days

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $165k.

Deal economics

• At list price, monthly cash flow is $169 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $165k).
• Cap rate 8.4% 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: Northwood Elementary School (math 42% / reading 37%, grade F, #500 of 994 statewide, top 53%, 561 students, 56% FRL); Franklin Community Middle School (math 25% / reading 42%, grade F, #176 of 330 statewide, top 54%, 759 students, 48% FRL); 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); 282 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals leasing fast (median 10d on market — plan ~1-2 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 $1k of loan paydown is wiped out by about $5k 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

• Only 7 days on market — expect competitive offers; lowballing is unlikely to land.
• 8 sale attempts since 26y 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 $118k; 40% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: flood insurance adds $122/mo; built in 1950 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: in FEMA flood zone AO (mandatory federal flood insurance) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $165,000

Questions for the listing agent

1. Built in 1950 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
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: 1.01% ✓
• Cap rate: 8.41%
• Cash-on-cash: 7.57%
• DSCR: 1.34
• GRM: 8.2

CMA / ARV

• ARV (on-the-fly): $166,752
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1462 Lochry Rd	0.06mi	3/1.0	864 (0%)	1mo	$165,000	$191	96
11 14th St	0.05mi	3/1.0	864 (0%)	11mo	$182,500	$211	88
123 14th St	0.07mi	3/1.0	912 (+6%)	5mo	$115,000	$126	83
1450 Roberts Rd	0.11mi	3/1.0	925 (+7%)	6mo	$158,000	$171	78
21 14th St	0.03mi	2/1.0 (-1)	768 (-11%)	1mo	$175,000	$228	74
112 Oliver Ave	0.31mi	3/1.0	825 (-4%)	8mo	$210,000	$255	71
1556 Younce St	0.28mi	3/1.0	925 (+7%)	8mo	$167,500	$181	68
110 Jordan Dr	0.40mi	3/1.0	900 (+4%)	8mo	$160,000	$178	67
174 Jordan Dr	0.37mi	3/1.0	900 (+4%)	11mo	$169,000	$188	67
26 Highland Ave	0.19mi	2/1.0 (-1)	920 (+6%)	15mo	$185,000	$201	63
80 Circle Dr	0.08mi	2/1.0 (-1)	960 (+11%)	16mo	$185,000	$193	59
44 W Adams St	0.75mi	2/1.0 (-1)	912 (+6%)	15mo	$185,000	$203	38

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: -7.5%
• Equity multiple: 0.72×
• Total profit: $-13,045
• Equity at exit: $24,602

10-year hold

• IRR: 4.1%
• Equity multiple: 1.32×
• Total profit: $14,877
• Equity at exit: $14,266

Cash invested: $46,200 (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: 282
• Price-to-rent: 8.2×

Monthly cashflow live

• Estimated rent: $1,674 high
• Mortgage (P&I): −$865
• Tax from tax record: −$97 /mo · $1,163/yr
• Insurance: −$69
• Flood insurance flood zone: −$122 /mo · $1,468/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$352
• Net cashflow: $169

Break-even live

Break-even rent $1,460

Max offer price $165,000

Occupancy floor 85%

Sensitivity live

Price	-10% $263	-5% $216	+0% $169	+5% $123	+10% $76
Rent	-10% $37	-5% $103	+0% $169	+5% $235	+10% $302
Rate	-1.0pp $252	-0.5pp $211	base $169	+0.5pp $127	+1.0pp $83

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: $41,250
• Closing costs: $4,950
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1994 Falcon Ct Franklin, IN	3.0	1.0	1008	$1,590	$1.58	45d	1	0.74mi
401 N Main St Unit 6A Franklin, IN	2.0	1.0	900	$650	$0.72	25d	1	0.75mi
401 N Main St Unit 4B Franklin, IN	2.0	1.0	900	$1,350	$1.50	9d	1	0.75mi
278 Walnut St Unit 6 Franklin, IN	2.0	1.0	800	$1,300	$1.62	45d	1	0.76mi
278 Walnut St Unit 7 Franklin, IN	2.0	1.0	800	$1,300	$1.62	0d	1	0.76mi
1037 W Jefferson St Franklin, IN	2.0–3.0	2.0	1131	$1,633	$1.44	0d	6	1.10mi
7505 Founders Way Franklin, IN	1.0–3.0	1.0–2.0	1045	$2,038	$1.95	0d	16	1.26mi
180 E South St Franklin, IN	2.0	1.0	750	$1,040	$1.39	0d	3	1.33mi

Listing history 19 events

1. 2026-04-28
   status Pending
2. 2026-04-09
   listed $165,000 Active
3. 2021-09-27
   soldstatus $118,000 Closed 211-char remark

   Show marketing remark (211 chars)

   Charming ranch home in Popular Franklin, Indiana. 3 bedrooms/1 Bath with a large Family Room for gatherings. Fenced in Back yard with a shed will keep you and pets busy while gardening. Updated flooring/Roof.

4. 2021-08-13
   historical 211-char remark

   Show marketing remark (211 chars)

   Charming ranch home in Popular Franklin, Indiana. 3 bedrooms/1 Bath with a large Family Room for gatherings. Fenced in Back yard with a shed will keep you and pets busy while gardening. Updated flooring/Roof.

5. 2021-08-12
   listed $117,500 211-char remark

   Show marketing remark (211 chars)

   Charming ranch home in Popular Franklin, Indiana. 3 bedrooms/1 Bath with a large Family Room for gatherings. Fenced in Back yard with a shed will keep you and pets busy while gardening. Updated flooring/Roof.

6. 2017-10-13
   soldstatus $72,000 Sold 204-char remark

   Show marketing remark (204 chars)

   This quaint 3 bedroom one bath home in Franklin is awaiting you. This home has a fully fenced back yard and is just behind the post office. This home makes a great starter home for first time home buyers.

7. 2017-09-12
   status Pending 204-char remark

   Show marketing remark (204 chars)

   This quaint 3 bedroom one bath home in Franklin is awaiting you. This home has a fully fenced back yard and is just behind the post office. This home makes a great starter home for first time home buyers.

8. 2017-09-08
   status Active 204-char remark

   Show marketing remark (204 chars)

   This quaint 3 bedroom one bath home in Franklin is awaiting you. This home has a fully fenced back yard and is just behind the post office. This home makes a great starter home for first time home buyers.

9. 2017-08-25
   status Pending 204-char remark

   Show marketing remark (204 chars)

   This quaint 3 bedroom one bath home in Franklin is awaiting you. This home has a fully fenced back yard and is just behind the post office. This home makes a great starter home for first time home buyers.

10. 2017-08-21
    price $73,900 204-char remark

    Show marketing remark (204 chars)

    This quaint 3 bedroom one bath home in Franklin is awaiting you. This home has a fully fenced back yard and is just behind the post office. This home makes a great starter home for first time home buyers.

11. 2017-07-28
    listed $78,500 Active 204-char remark

    Show marketing remark (204 chars)

    This quaint 3 bedroom one bath home in Franklin is awaiting you. This home has a fully fenced back yard and is just behind the post office. This home makes a great starter home for first time home buyers.

12. 2008-09-19
    soldstatus $40,000
13. 2008-07-18
    listed $40,000
14. 2002-04-15
    soldstatus $36,000
15. 2001-12-27
    listed $44,900
16. 2001-12-15
    historical
17. 2001-08-16
    listed $74,950
18. 2000-10-15
    historical
19. 2000-06-15
    listed $78,900

ⓘ 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: $1,163 · $97/mo
• Projected year-2 tax: $1,283 · $107/mo
• Expected delta: +$120/yr (+$10/mo · 10.3%)

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

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone AO · 73% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 4/10 Moderate 7 d/yr ≥101°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: $20,089
• − Mortgage interest: −$9,243
• − Property taxes: −$1,163
• − Insurance: −$2,292
• − Repairs & maintenance: −$1,607
• − Management: −$1,607
• − Depreciation: −$4,800
• Taxable loss: −$623
• Est. tax savings @ 24.0%: +$150
• After-tax cash flow: $2,181/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

+109.1% since first listed

19 events — show timeline

• 2026-04-28 Pending — MIBOR as Distributed by MLS Grid
• 2026-04-09 Listed $165,000 MIBOR as Distributed by MLS Grid
• 2021-09-27 Sold (MLS) $118,000 MIBOR as Distributed by MLS Grid
• 2021-08-13 Listing Removed — MIBOR as Distributed by MLS Grid
• 2021-08-12 Listed $117,500 MIBOR as Distributed by MLS Grid
• 2017-10-13 Sold (MLS) $72,000 MIBOR as Distributed by MLS Grid
• 2017-09-12 Pending — MIBOR as Distributed by MLS Grid
• 2017-09-08 Relisted — MIBOR as Distributed by MLS Grid
• 2017-08-25 Pending — MIBOR as Distributed by MLS Grid
• 2017-08-21 Price Changed $73,900 MIBOR as Distributed by MLS Grid
• 2017-07-28 Listed $78,500 MIBOR as Distributed by MLS Grid
• 2008-09-19 Sold (MLS) $40,000 MIBOR as Distributed by MLS Grid
• 2008-07-18 Listed $40,000 MIBOR as Distributed by MLS Grid
• 2002-04-15 Sold (MLS) $36,000 MIBOR as Distributed by MLS Grid
• 2001-12-27 Listed $44,900 MIBOR as Distributed by MLS Grid
• 2001-12-15 Listing Removed — MIBOR as Distributed by MLS Grid
• 2001-08-16 Listed $74,950 MIBOR as Distributed by MLS Grid
• 2000-10-15 Listing Removed — MIBOR as Distributed by MLS Grid
• 2000-06-15 Listed $78,900 MIBOR as Distributed by MLS Grid

Property tax history

+0.7%/yr

Latest (2024): $1,163 · +8.0% YoY. Source: county tax records.