653 N Gentry St · Frankfort, IN 46041

$100,000

3 bd · 1.0 ba · 1,855 sqft · SingleFamily public records · 62 Days on market

Built 1905 8,712 sqft lot ↓ 26% since listing

---

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
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.4/10.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to 653 N Gentry Street in Frankfort! This 3-bedroom, 2-bath home offers over 1,800 square feet of living space and is full of opportunity for its next owner. With a spacious layout and generous room sizes, this property provides a solid foundation to make it your own. Whether you're looking for a home to personalize or an investment opportunity, the possibilities here are plentiful. The home offers comfortable living areas, functional bedrooms, and the space needed to create the home you've been envisioning. Located in Frankfort with convenient access to local amenities, this property presents a great chance to build equity and unlock its full potential. Schedule your showing today

Key facts

• 8,712 sq ft lot
• Built 1905
• Listed 62 days

Property features AI

Exterior

• Utilities: Public water; Public sewer
• Home design: Single family residence; Site-built home; One story
• Construction: Vinyl siding; Slab foundation; Built as site-built construction
• Exterior features: Balcony; Deck; Shed(s); Level lot

Interior

• Kitchen: Disposal; Dishwasher; Refrigerator; Freezer; Electric range
• Bathrooms: 2 full bathrooms; 2 main-level bathrooms
• Heating & cooling: Wood heating; Wall unit(s) cooling; Has cooling; Has heating
• Interior features: Breakfast bar; Eat-in kitchen; Kitchen island; Skylight(s); Therapeutic whirlpool
• Laundry & utility: Laundry chute; Washer hookup; Electric dryer hookup; Main-level laundry; Electric water heater

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $100k.

Deal economics

• At list price, monthly cash flow is $1k ($14k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $100k).
• Recommended offer: $94k (6.0% below list) — sets the bar for market timing.
• Cap rate 20.2% vs local median 3.9% in Frankfort — 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 73/100 on livability (#107 in IN) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F, employment D-.
• Community Schools Of Frankfort (rural): math 27% / reading 30% proficiency, ranked #251 of 301 in IN (top 83%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 68% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Suncrest Elementary School (math 35% / reading 29%, grade F, #652 of 994 statewide, top 68%, 560 students, 85% FRL); Frankfort Middle School (math 19% / reading 27%, grade F, #263 of 330 statewide, top 80%, 706 students, 83% FRL); Frankfort High School (math 8% / reading 42%, grade F, #323 of 369 statewide, top 88%, 895 students, 75% FRL).
• Market conditions: 129 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 59 units permitted in Clinton County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $691 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Clinton County population projected at -15% 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 $28k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 62 days — a 6% lower offer ($94k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 2y 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.

Risks & watch-outs

• Watch-outs: built in 1905 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $94,000 (6.0% below list)

Questions for the listing agent

1. It's been on market 62 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1905 — 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: 2.30% ✓
• Cap rate: 20.23%
• Cash-on-cash: 49.77%
• DSCR: 3.21
• GRM: 3.6

CMA / ARV

• ARV (on-the-fly): $211,470
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
309 W Morrison St	0.18mi	3/1.0	1,905 (+3%)	2mo	$217,000	$114	85
457 W Morrison St	0.22mi	3/1.0	1,743 (-6%)	10mo	$205,000	$118	71
754 John St	0.11mi	3/2.0	1,632 (-12%)	2mo	$215,000	$132	69
751 Woodland Ct	0.51mi	3/2.5	1,864 (+0%)	1mo	$238,000	$128	69
302 Washington Avenue Ave	0.49mi	4/2.0 (+1)	1,923 (+4%)	2mo	$190,000	$99	61
1009 Gentry St	0.24mi	4/2.0 (+1)	1,997 (+8%)	10mo	$203,000	$102	59
657 Burlington Ave	0.70mi	4/1.0 (+1)	1,822 (-2%)	8mo	$184,000	$101	53
450 Sims St	0.47mi	4/2.0 (+1)	1,774 (-4%)	11mo	$130,000	$73	52
855 E Washington St	0.68mi	3/1.5	1,656 (-11%)	1mo	$185,000	$112	48
606 E Green St	0.49mi	3/2.0	1,634 (-12%)	10mo	$225,000	$138	45
359 S 2nd St	0.55mi	4/2.5 (+1)	2,124 (+14%)	6mo	$299,000	$141	34
509 S Jackson St	0.67mi	4/1.5 (+1)	2,108 (+14%)	10mo	$226,000	$107	30

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: 47.5%
• Equity multiple: 3.06×
• Total profit: $57,776
• Equity at exit: $14,910

10-year hold

• IRR: 53.1%
• Equity multiple: 6.20×
• Total profit: $145,601
• Equity at exit: $8,646

Cash invested: $28,000 (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 46041

• Home prices YoY: -17.8%
• Active inventory: 129
• Price-to-rent: 3.6×

Monthly cashflow live

• Estimated rent: $2,295 medium
• Mortgage (P&I): −$524
• Tax from tax record: −$86 /mo · $1,027/yr
• Insurance: −$42
• HOA: −$0
• Vacancy / Maint / Mgmt: −$482
• Net cashflow: $1,161

Break-even live

Break-even rent $825

Max offer price $100,000

Occupancy floor 44%

Sensitivity live

Price	-10% $1,218	-5% $1,190	+0% $1,161	+5% $1,133	+10% $1,105
Rent	-10% $980	-5% $1,071	+0% $1,161	+5% $1,252	+10% $1,343
Rate	-1.0pp $1,212	-0.5pp $1,187	base $1,161	+0.5pp $1,135	+1.0pp $1,109

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: $25,000
• Closing costs: $3,000
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
904 E Clinton St Frankfort, IN	4.0	2.0	2447	$2,295	$0.94	13d	1	0.72mi

Listing history 7 events

1. 2026-05-11
   status Pending
2. 2026-03-10
   listed $100,000 Active
3. 2025-02-27
   historical
4. 2024-12-17
   price $130,000
5. 2024-12-17
   price $130,000
6. 2024-12-03
   listed $135,000 Active
7. 2024-12-03
   listed $135,000 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: $1,027 · $86/mo
• Projected year-2 tax: $1,027 · $86/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 3/10 Moderate 7 d/yr ≥101°F today · 18 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $27,540
• − Mortgage interest: −$5,602
• − Property taxes: −$1,027
• − Insurance: −$500
• − Repairs & maintenance: −$2,203
• − Management: −$2,203
• − Depreciation: −$2,909
• Taxable income: $13,096
• Est. tax owed @ 24.0%: −$3,143
• After-tax cash flow: $10,794/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: Community Schools Of Frankfort
• NCES district ID: 1803660
• Math proficiency: 27% ▼ -3.00%
• Reading proficiency: 30% ▼ -6.00%
• Median HH income: $42,144
• Composite: 24.2/100
• National rank: #7728
• State rank: #251 of 301 in IN

Livability — Frankfort

• Score: 73/100
• State rank: #107
• US rank: #5623

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Frankfort, IN
• Population (ZIP): 23,359

Population outlook (Clinton County) Hauer SSP2

• Today (2025): 31,197 people
• By 2030: 30,257 · -3.0%
• By 2040: 28,383 · -9.0%
• By 2050: 26,644 · -14.6%
• By 2075: 23,858 · -23.5%
• By 2100: 22,236 · -28.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (73%)
• Race & ethnicity: White 73% Hispanic / Latino 24% Two or more races 11%
• Hispanic origin (detail): Mexican 22%
• Common ancestry: Iranian 1% Italian 1% Slovak 1%
• Foreign-born: 11% · Canada, Philippines
• Languages at home: 86% English-only · Spanish 14%

Political lean MEDSL · Clinton

• 2024 margin: Solid R (+48.0) · D 25.2% · R 73.2% · Other 1.6%
• 2008→2024 swing: -35.0pp toward R · 2008: -13.0pp · 2024: -48.0pp
• All cycles: 2024: R+48.0 2020: R+46.1 2016: R+48.0 2012: R+30.7 2008: R+13.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -57.02%
• Current HPI: 263.2258
• 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

-25.9% since first listed

7 events — show timeline

• 2026-05-11 Pending — IRMLS
• 2026-03-10 Listed $100,000 IRMLS
• 2025-02-27 Listing Removed — MIBOR as Distributed by MLS Grid
• 2024-12-17 Price Changed $130,000 IRMLS
• 2024-12-17 Price Changed $130,000 MIBOR as Distributed by MLS Grid
• 2024-12-03 Listed $135,000 IRMLS
• 2024-12-03 Listed $135,000 MIBOR as Distributed by MLS Grid

Property tax history

+8.9%/yr

Latest (2024): $1,027 · +13.6% YoY. Source: county tax records.