307 N Madison Ave · Fowler, IN 47944

$87,500

2 bd · 1.0 ba · 914 sqft · SingleFamily public records · 173 Days on market

Built 1938 5,663 sqft lot Est $125k · 30% under ↓ 20% since listing

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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 +18.7/30.0
• ARV discount +15.0/15.0
• DSCR +5.9/10.0
• 1% rule +3.9/10.0
• Schools +3.5/10.0
• Livability +3.5/5.0
• Appreciation +2.8/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

From one room to the next, this home gives it's owner a fantastic layout, a little bit of charm from front to back, and outdoor spaces to extend your living & entertaining areas. Lots of tasteful updates can be noticed as you tour the home. Situated in a great neighborhood this charming ranch is just down the street from the growing business district that Fowler has to offer. The great room can be configured to your preference from one great living space to splitting it up into a dining, living, and even an office space! It's up to you. We invite you to come check it out and see for yourself all the property has to offer. This home is selling As-Is and welcomes inspections.

Key facts

• Tasteful updates
• Fantastic layout
• Great room

Tags

• FANTASTIC LAYOUT
• OUTDOOR SPACES
• TASTEFUL UPDATES
• GREAT ROOM

Property features AI

Exterior

• Parking: Off-street parking (gravel)
• Security: Smoke detector(s)
• Utilities: Public water; Public sewer
• Home design: Single-family residence (site-built); Single story; Entry level and facing direction not specified
• Construction: Asbestos exterior materials; Block foundation; Asphalt and metal roof; Built area above grade: 914 (unit not stated); Basement: partial crawl space with sump pump
• Exterior features: Covered porch; Patio; Shed(s); Level lot

Interior

• Kitchen: Refrigerator; Electric range
• Bedrooms: 7 total rooms (bedroom count not specified)
• Flooring: Carpet
• Bathrooms: 1 full bathroom (main level)
• Heating & cooling: Central air; Ceiling fan(s); Natural gas forced air heating
• Interior features: Ceiling fans; Laminate countertops; 1 fireplace (no special features listed)
• Laundry & utility: Washer hookup (main level); Electric dryer hookup (main level); Water softener (owned); Gas water heater; Water heater

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $88k.

Deal economics

• At list price, monthly cash flow is $86 ($1k/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 $78k (10.9% below list).
• Recommended offer: $77k (12.0% below list) — sets the bar for market timing.
• Cap rate 7.5% vs local median 2.7% in Fowler — 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 69/100 on livability (#205 in IN) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: employment D+, amenities F, commute F.
• Benton Community School Corporation (rural): math 38% / reading 43% proficiency, ranked #134 of 301 in IN (top 44%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Prairie Crossing Elementary School (math 46% / reading 37%, grade F, #478 of 994 statewide, top 49%, 561 students, 65% FRL); Benton Central Jr-Sr High School (math 31% / reading 53%, grade F, #197 of 369 statewide, top 57%, 790 students, 48% FRL) — zoned schools average 57% FRL vs 38% district-wide (18 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 32 active listings in the ZIP.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $605 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Benton County population projected at -13% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 173 days — a 12% lower offer ($77k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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.

Risks & watch-outs

• Watch-outs: built in 1938 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $77,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 173 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 1938 — 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 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?
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: 0.89% ✗
• Cap rate: 7.48%
• Cash-on-cash: 4.23%
• DSCR: 1.19
• GRM: 9.4

CMA / ARV

• ARV (on-the-fly): $125,218
• Comps found: 10

Show comp detail 10 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
307 N Madison Ave	0.00mi	2/1.0	914 (0%)	0mo	$87,500	$96	100
202 N Van Buren Ave	0.09mi	2/1.0	912 (-0%)	2mo	$55,000	$60	94
304 N Madison Ave	0.03mi	2/1.0	888 (-3%)	22mo	$115,000	$130	76
206 S Van Buren Ave	0.30mi	2/1.0	1,008 (+10%)	6mo	$75,000	$74	64
203 E Elm St	0.24mi	2/1.0	864 (-6%)	20mo	$118,000	$137	63
503 E 8th St	0.39mi	2/1.0	800 (-12%)	1mo	$120,000	$150	60
606 E Main St	0.25mi	3/1.5 (+1)	1,032 (+13%)	8mo	$168,500	$163	53
806 E 7th St	0.48mi	2/1.0	975 (+7%)	24mo	$148,000	$152	47
1108 E 6th St	0.63mi	2/1.0	825 (-10%)	23mo	$93,000	$113	35
202 N Park Ave	0.62mi	3/1.0 (+1)	1,000 (+9%)	20mo	$140,000	$140	34

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: -9.7%
• Equity multiple: 0.64×
• Total profit: $-8,715
• Equity at exit: $13,047

10-year hold

• IRR: -0.4%
• Equity multiple: 0.97×
• Total profit: $-650
• Equity at exit: $7,565

Cash invested: $24,500 (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 47944

• Home prices YoY: -1.3%
• Active inventory: 32
• Price-to-rent: 9.4×

Monthly cashflow live

• Estimated rent: $779 medium
• Mortgage (P&I): −$459
• Tax from tax record: −$34 /mo · $408/yr
• Insurance: −$36
• HOA: −$0
• Vacancy / Maint / Mgmt: −$164
• Net cashflow: $86

Break-even live

Break-even rent $670

Max offer price $87,500

Occupancy floor 84%

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: $21,875
• Closing costs: $2,625
• Reserves months: —
• Total cash needed: —

Listing history 9 events

1. 2026-05-19
   status Pending
2. 2026-04-23
   historical Active Under Contract
3. 2026-04-02
   price $87,500
4. 2025-11-27
   listed $89,900 Active
5. 2025-11-10
   price $90,900
6. 2025-10-05
   price $94,900
7. 2025-08-25
   price $99,900
8. 2025-07-28
   price $105,000
9. 2025-06-17
   listed $110,000 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: $408 · $34/mo
• Projected year-2 tax: $576 · $48/mo
• Expected delta: +$168/yr (+$14/mo · 41.0%)

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

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone X (unshaded) · 72% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥101°F today · 17 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 0% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $9,352
• − Mortgage interest: −$4,901
• − Property taxes: −$408
• − Insurance: −$438
• − Repairs & maintenance: −$748
• − Management: −$748
• − Depreciation: −$2,545
• Taxable loss: −$437
• Est. tax savings @ 24.0%: +$105
• After-tax cash flow: $1,141/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: Benton Community School Corporation
• NCES district ID: 1800480
• Math proficiency: 38% ▼ -7.00%
• Reading proficiency: 43% ▼ -7.00%
• Median HH income: $50,073
• Composite: 34.9/100
• National rank: #5076
• State rank: #134 of 301 in IN

Livability — Fowler

• Score: 69/100
• State rank: #205
• US rank: #9047

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: Fowler, IN
• Population (ZIP): 3,492

Population outlook (Benton County) Hauer SSP2

• Today (2025): 8,404 people
• By 2030: 8,234 · -2.0%
• By 2040: 7,832 · -6.8%
• By 2050: 7,337 · -12.7%
• By 2075: 6,436 · -23.4%
• By 2100: 5,139 · -38.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (96%)
• Race & ethnicity: White 96% Hispanic / Latino 3% Two or more races 3%
• Common ancestry: Lithuanian 4% Iranian 2% Romanian 1%
• Foreign-born: 0%
• Languages at home: 98% English-only · Spanish 2%

Political lean MEDSL · Benton

• 2024 margin: Solid R (+47.1) · D 25.5% · R 72.7% · Other 1.8%
• 2008→2024 swing: -30.9pp toward R · 2008: -16.3pp · 2024: -47.1pp
• All cycles: 2024: R+47.1 2020: R+48.6 2016: R+47.0 2012: R+32.7 2008: R+16.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -4.35%
• Current HPI: 325.4116
• Rent YoY: —
• Metro: —
• 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

-20.5% since first listed

9 events — show timeline

• 2026-05-19 Pending — IRMLS
• 2026-04-23 Contingent — IRMLS
• 2026-04-02 Price Changed $87,500 IRMLS
• 2025-11-27 Listed $89,900 IRMLS
• 2025-11-10 Price Changed $90,900 IRMLS
• 2025-10-05 Price Changed $94,900 IRMLS
• 2025-08-25 Price Changed $99,900 IRMLS
• 2025-07-28 Price Changed $105,000 IRMLS
• 2025-06-17 Listed $110,000 IRMLS

Property tax history

+10.6%/yr

Latest (2020): $408 · +8.2% YoY. Source: county tax records.