606 Lincoln St · Rockport, IN 47635

$69,900

2 bd · 1.0 ba · 1,408 sqft · SingleFamily public records · 245 Days on market

Built 1886 1.13 ac lot $50/sqft · 42% below area ↓ 42% since listing

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Why this score? — see what drove the B 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +4.2/10.0
• Livability +3.2/5.0
• Appreciation +2.5/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

2 Bedroom Home with Oversized Detached Garage on Over an Acre! Features Include: Lots of Potential, Unfinished Basement, 2 Living Rooms, Over 1 Acre in the City, Enclosed Front Porch, and Conveniently Located! Needs TLC

Key facts

• Unfinished basement
• 2 living rooms
• Enclosed front porch

Tags

• OVERSIZED DETACHED GARAGE
• UNFINISHED BASEMENT
• 2 LIVING ROOMS
• ENCLOSED FRONT PORCH
• OVER 1 ACRE IN THE CITY

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $70k.

Deal economics

• At list price, monthly cash flow is $346 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $70k).
• Recommended offer: $62k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 64/100 on livability (#403 in IN) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: schools D+, amenities F, commute F.
• South Spencer County School Corporation (rural): math 46% / reading 54% proficiency, ranked #58 of 301 in IN (top 19%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 33 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 78 units permitted in Spencer County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $483 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Spencer County population projected at -16% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $20k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 245 days — a 12% lower offer ($62k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts; this cycle's ask has dropped $50k (42%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1886 — 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 $61,512 (12.0% below list)

Questions for the listing agent

1. It's been on market 245 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 1886 — 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: 1.50% ✓
• Cap rate: 12.24%
• Cash-on-cash: 21.24%
• DSCR: 1.95
• GRM: 5.5

CMA / ARV

• ARV (median comp): $154,940
• List price: $69,900
• Delta: -54.89%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 9 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
411 Elm Aly	0.50mi	2/2.0	1,470 (+4%)	1mo	$20,000	$14	65
1128 W Cobblefield Dr	0.40mi	3/2.0 (+1)	1,337 (-5%)	1mo	$235,960	$176	63
615 Williamson St	0.32mi	3/1.0 (+1)	1,243 (-12%)	5mo	$42,000	$34	57
840 S Halbruge St	0.28mi	3/1.0 (+1)	1,532 (+9%)	14mo	$145,000	$95	56
548 Elm St	0.42mi	2/1.0	1,324 (-6%)	22mo	$146,900	$111	52
1052 W Cobblefield Dr	0.31mi	3/2.0 (+1)	1,239 (-12%)	18mo	$210,000	$169	41
537 N Silverdale Rd	0.43mi	3/1.5 (+1)	1,232 (-12%)	14mo	$212,000	$172	40
708 Walnut St	0.54mi	3/2.0 (+1)	1,320 (-6%)	23mo	$228,500	$173	36
107 S Lincoln Ave	0.49mi	3/2.0 (+1)	1,601 (+14%)	12mo	$155,000	$97	36

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: 13.8%
• Equity multiple: 1.55×
• Total profit: $10,754
• Equity at exit: $10,422

10-year hold

• IRR: 22.6%
• Equity multiple: 2.93×
• Total profit: $37,840
• Equity at exit: $6,044

Cash invested: $19,572 (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 47635

• Home prices YoY: -2.4%
• Active inventory: 33
• Price-to-rent: 5.5×

Monthly cashflow live

• Estimated rent: $1,050 medium
• Mortgage (P&I): −$367
• Tax est. 1.5%: −$87 /mo · $1,048/yr
• Insurance: −$29
• HOA: −$0
• Vacancy / Maint / Mgmt: −$220
• Net cashflow: $346

Break-even live

Break-even rent $611

Max offer price $69,900

Occupancy floor 62%

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: $17,475
• Closing costs: $2,097
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
330 Main St Rockport, IN	1.0	1.0	946	$1,050	$1.11	44d	1	0.61mi

Listing history 24 events

1. 2026-06-18
   days on market $69,900 Active 245 DOM
2. 2026-06-17
   days on market $69,900 Active 244 DOM
3. 2026-06-16
   days on market $69,900 Active 243 DOM
4. 2026-06-15
   days on market $69,900 Active 242 DOM
5. 2026-06-14
   days on market $69,900 Active 240 DOM
6. 2026-06-13
   days on market $69,900 Active 239 DOM
7. 2026-06-10
   days on market $69,900 Active 237 DOM
8. 2026-06-09
   days on market $69,900 Active 236 DOM
9. 2026-06-08
   days on market $69,900 Active 235 DOM
10. 2026-06-07
    days on market $69,900 Active 234 DOM
11. 2026-06-05
    days on market $69,900 Active 231 DOM
12. 2026-06-03
    days on market $69,900 Active 230 DOM
13. 2026-06-02
    days on market $69,900 Active 229 DOM
14. 2026-06-01
    days on market $69,900 Active 228 DOM
15. 2026-05-31
    days on market $69,900 Active 227 DOM
16. 2026-05-30
    days on market $69,900 Active 226 DOM
17. 2026-05-18
    price $69,900 222-char remark

    Show marketing remark (222 chars)

    2 Bedroom Home with Oversized Detached Garage on Over an Acre! Features Include: Lots of Potential, Unfinished Basement, 2 Living Rooms, Over 1 Acre in the City, Enclosed Front Porch, and Conveniently Located! Needs TLC

18. 2026-05-07
    status Active 222-char remark

    Show marketing remark (222 chars)

    2 Bedroom Home with Oversized Detached Garage on Over an Acre! Features Include: Lots of Potential, Unfinished Basement, 2 Living Rooms, Over 1 Acre in the City, Enclosed Front Porch, and Conveniently Located! Needs TLC

19. 2026-05-07
    historical 222-char remark

    Show marketing remark (222 chars)

    2 Bedroom Home with Oversized Detached Garage on Over an Acre! Features Include: Lots of Potential, Unfinished Basement, 2 Living Rooms, Over 1 Acre in the City, Enclosed Front Porch, and Conveniently Located! Needs TLC

20. 2026-05-06
    price $79,900 222-char remark

    Show marketing remark (222 chars)

    2 Bedroom Home with Oversized Detached Garage on Over an Acre! Features Include: Lots of Potential, Unfinished Basement, 2 Living Rooms, Over 1 Acre in the City, Enclosed Front Porch, and Conveniently Located! Needs TLC

21. 2026-04-16
    status Active 222-char remark

    Show marketing remark (222 chars)

    2 Bedroom Home with Oversized Detached Garage on Over an Acre! Features Include: Lots of Potential, Unfinished Basement, 2 Living Rooms, Over 1 Acre in the City, Enclosed Front Porch, and Conveniently Located! Needs TLC

22. 2026-04-16
    price $85,000 222-char remark

    Show marketing remark (222 chars)

    2 Bedroom Home with Oversized Detached Garage on Over an Acre! Features Include: Lots of Potential, Unfinished Basement, 2 Living Rooms, Over 1 Acre in the City, Enclosed Front Porch, and Conveniently Located! Needs TLC

23. 2025-12-18
    price $99,900 222-char remark

    Show marketing remark (222 chars)

    2 Bedroom Home with Oversized Detached Garage on Over an Acre! Features Include: Lots of Potential, Unfinished Basement, 2 Living Rooms, Over 1 Acre in the City, Enclosed Front Porch, and Conveniently Located! Needs TLC

24. 2025-10-16
    listed $119,900 Active 222-char remark

    Show marketing remark (222 chars)

    2 Bedroom Home with Oversized Detached Garage on Over an Acre! Features Include: Lots of Potential, Unfinished Basement, 2 Living Rooms, Over 1 Acre in the City, Enclosed Front Porch, and Conveniently Located! Needs TLC

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

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 ≥107°F today · 19 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 3% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $12,600
• − Mortgage interest: −$3,915
• − Property taxes: −$1,048
• − Insurance: −$350
• − Repairs & maintenance: −$1,008
• − Management: −$1,008
• − Depreciation: −$2,033
• Taxable income: $3,237
• Est. tax owed @ 24.0%: −$777
• After-tax cash flow: $3,380/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: South Spencer County School Corporation
• NCES district ID: 1810560
• Math proficiency: 46% ▼ -6.00%
• Reading proficiency: 54% ▼ -2.00%
• Median HH income: $47,220
• Composite: 42.49/100
• National rank: #3208
• State rank: #58 of 301 in IN

Livability — Rockport

• Score: 64/100
• State rank: #403
• US rank: #14750

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: Rockport, IN
• Population (ZIP): 5,578

Population outlook (Spencer County) Hauer SSP2

• Today (2025): 20,394 people
• By 2030: 19,912 · -2.4%
• By 2040: 18,592 · -8.8%
• By 2050: 17,051 · -16.4%
• By 2075: 14,010 · -31.3%
• By 2100: 10,869 · -46.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (93%)
• Race & ethnicity: White 93% Two or more races 3% Hispanic / Latino 2% Black 1%
• Common ancestry: Italian 3% Scottish 2% Iranian 2%
• Foreign-born: 1% · China, Canada
• Languages at home: 99% English-only · Spanish 1%

Political lean MEDSL · Spencer

• 2024 margin: Solid R (+43.3) · D 27.4% · R 70.6% · Other 2.0%
• 2008→2024 swing: -43.6pp toward R · 2008: 0.4pp · 2024: -43.3pp
• All cycles: 2024: R+43.3 2020: R+38.5 2016: R+37.3 2012: R+15.3 2008: D+0.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -4.91%
• Current HPI: 199.6703
• 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

-41.7% since first listed

8 events — show timeline

• 2026-05-18 Price Changed $69,900 IRMLS
• 2026-05-07 Relisted — IRMLS
• 2026-05-07 Delisted — IRMLS
• 2026-05-06 Price Changed $79,900 IRMLS
• 2026-04-16 Relisted — IRMLS
• 2026-04-16 Price Changed $85,000 IRMLS
• 2025-12-18 Price Changed $99,900 IRMLS
• 2025-10-16 Listed $119,900 IRMLS

Property tax history

-7.7%/yr

Latest (2024): $5 · +0.0% YoY. Source: county tax records.