14855 4th Rd · La Paz, IN 46563

$65,000

3 bd · 1.0 ba · 1,064 sqft · SingleFamily public records · 54 Days on market

Built 1900 1.00 ac lot $61/sqft · 76% below area ↓ 32% 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 +3.2/10.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Investment opportunity awaits! This quaint country home sits on a full acre and is ready for its next chapter. If you’ve been searching for a place that rewards vision—and you’re unafraid of the unknown—you’ve found it. Yes, it needs a major rehab but for the right buyer that just means a chance to build serious sweat equity. Nestled in a quiet rural setting, you’ll enjoy peaceful surroundings, open space, and room to make it your own—while still being just a short drive from town and everyday conveniences. Whether you’re an investor, flipper, or a buyer with ambition this property offers endless possibilities. If you’re not afraid of a

Key facts

• Open space
• Quiet rural setting
• Full acre

Tags

• FULL ACRE
• QUIET RURAL SETTING
• OPEN SPACE

Property features AI

Exterior

• Utilities: Private well water; Septic tank sewer
• Home design: Single-family residence (site-built); 1 story
• Construction: Vinyl siding; Slab foundation
• Exterior features: Approximately 1 acre lot

Interior

• Bathrooms: 1 full bathroom (main level)
• Heating & cooling: Natural gas forced air heating; No cooling
• Interior features: 7 total rooms; Has a basement (crawl space)
• Laundry & utility: Laundry on the main level

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $65k.

Deal economics

• At list price, monthly cash flow is $684 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $65k).
• Recommended offer: $63k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 62/100 on livability (#467 in IN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, employment B+; Watch: crime C-, schools F, amenities F.
• Union-North United School Corporation (rural): math 34% / reading 39% proficiency, ranked #172 of 301 in IN (top 57%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 82 active listings in the ZIP; 147 units permitted in Marshall County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $449 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Marshall County population projected to shrink 9% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $18k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 54 days — a 3% lower offer ($63k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $30k (32%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $63,050 (3.0% below list)

Questions for the listing agent

1. It's been on market 54 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
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: 2.13% ✓
• Cap rate: 18.92%
• Cash-on-cash: 45.09%
• DSCR: 3.01
• GRM: 3.9

CMA / ARV

• ARV (median comp): $315,425
• List price: $65,000
• Delta: -79.39%
• Verdict: UNDERPRICED
• Comps: 4 within 2.0 mi

Projected returns pro-forma

-3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 42.2%
• Equity multiple: 2.81×
• Total profit: $33,021
• Equity at exit: $9,692

10-year hold

• IRR: 48.3%
• Equity multiple: 5.66×
• Total profit: $84,825
• Equity at exit: $5,620

Cash invested: $18,200 (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 46563

• Home prices YoY: -27.7%
• Active inventory: 82
• Price-to-rent: 3.9×

Monthly cashflow live

• Estimated rent: $1,383 medium
• Mortgage (P&I): −$341
• Tax from tax record: −$40 /mo · $486/yr
• Insurance: −$27
• HOA: −$0
• Vacancy / Maint / Mgmt: −$290
• Net cashflow: $684

Break-even live

Break-even rent $517

Max offer price $65,000

Occupancy floor 46%

Sensitivity live

Price	-10% $721	-5% $702	+0% $684	+5% $666	+10% $647
Rent	-10% $575	-5% $629	+0% $684	+5% $739	+10% $793
Rate	-1.0pp $717	-0.5pp $700	base $684	+0.5pp $667	+1.0pp $650

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: $16,250
• Closing costs: $1,950
• Reserves months: —
• Total cash needed: —

Listing history 18 events

1. 2026-06-17
   status $65,000 Pending 54 DOM
2. 2026-06-17
   days on market $65,000 Active 54 DOM
3. 2026-06-16
   days on market $65,000 Active 53 DOM
4. 2026-06-15
   days on market $65,000 Active 52 DOM
5. 2026-06-14
   days on market $65,000 Active 50 DOM
6. 2026-06-13
   days on market $65,000 Active 49 DOM
7. 2026-06-10
   days on market $65,000 Active 47 DOM
8. 2026-06-09
   days on market $65,000 Active 46 DOM
9. 2026-06-08
   days on market $65,000 Active 45 DOM
10. 2026-06-07
    pricestatusdays on market $65,000 Active 44 DOM
11. 2026-06-05
    days on market $94,900 Active Under Contract 41 DOM
12. 2026-06-03
    days on market $94,900 Active Under Contract 40 DOM
13. 2026-06-02
    days on market $94,900 Active Under Contract 39 DOM
14. 2026-06-01
    days on market $94,900 Active Under Contract 38 DOM
15. 2026-05-31
    days on market $94,900 Active Under Contract 37 DOM
16. 2026-05-30
    days on market $94,900 Active Under Contract 36 DOM
17. 2026-05-02
    historical Active Under Contract 884-char remark
18. 2026-04-24
    listed $94,900 Active 884-char remark

ⓘ 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: $486 · $40/mo
• Projected year-2 tax: $519 · $43/mo
• Expected delta: +$33/yr (+$3/mo · 6.9%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 2/10 Low 7 d/yr ≥101°F today · 16 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $16,592
• − Mortgage interest: −$3,641
• − Property taxes: −$486
• − Insurance: −$325
• − Repairs & maintenance: −$1,327
• − Management: −$1,327
• − Depreciation: −$1,891
• Taxable income: $7,595
• Est. tax owed @ 24.0%: −$1,823
• After-tax cash flow: $6,384/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: Union-North United School Corporation
• NCES district ID: 1811910
• Math proficiency: 34% ▼ -16.00%
• Reading proficiency: 39% ▼ -9.00%
• Median HH income: $50,550
• Composite: 31.63/100
• National rank: #5934
• State rank: #172 of 301 in IN

Livability — La Paz

• Score: 62/100
• State rank: #467
• US rank: #16478

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Marshall County · 23,615 people
• City population: 520
• Metro: Plymouth, IN
• Population (ZIP): 23,615
• Household income: $73,293
• Rent vs Own: 26.6% rent · 73.4% own
• Severe rent burden: 243.0

Population outlook (Marshall County) Hauer SSP2

• Today (2025): 46,402 people
• By 2030: 45,775 · -1.4%
• By 2040: 44,220 · -4.7%
• By 2050: 42,329 · -8.8%
• By 2075: 38,235 · -17.6%
• By 2100: 33,285 · -28.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (81%)
• Race & ethnicity: White 81% Hispanic / Latino 16% Two or more races 4%
• Hispanic origin (detail): Mexican 10%
• Common ancestry: Romanian 4% Iranian 2% Slovak 1%
• Foreign-born: 7% · Canada
• Languages at home: 87% English-only · Spanish 12% German/W. Germanic 1%

Political lean MEDSL · Marshall

• 2024 margin: Solid R (+43.4) · D 27.4% · R 70.8% · Other 1.8%
• 2008→2024 swing: -29.8pp toward R · 2008: -13.6pp · 2024: -43.4pp
• All cycles: 2024: R+43.4 2020: R+40.8 2016: R+41.6 2012: R+28.9 2008: R+13.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -94.52%
• Current HPI: 247.1045
• Rent YoY: —
• Metro: Plymouth, 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

-31.5% since first listed

5 events — show timeline

• 2026-06-17 Pending — IRMLS
• 2026-06-05 Relisted — IRMLS
• 2026-06-05 Price Changed $65,000 IRMLS
• 2026-05-02 Contingent — IRMLS
• 2026-04-24 Listed $94,900 IRMLS

Property tax history

+8.5%/yr

Latest (2025): $486 · -28.2% YoY. Source: county tax records.