10 N Pike Road Rd · Avoca, IN 47462

$144,900

2 bd · 1.0 ba · 1,271 sqft · SingleFamily public records · 77 Days on market

Built 1958 0.75 ac lot $114/sqft · 23% below area Est $188k · 23% under

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Why this score? — see what drove the D+ 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).

• ARV discount +15.0/15.0
• Cash flow +11.2/30.0
• Appreciation +6.6/10.0
• DSCR +3.3/10.0
• Schools +3.2/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +2.3/10.0

Listing remarks MLS

IT HAS THE LOCATION! IT HAS THE POTENTIAL! IT JUST NEEDS YOUR TLC! THIS LOVELY 2 BEDROOM, 1 BATHROOM HOME INCLUDES A SUNROOM, FORMAL DINING ROOM, LARGE LIVING ROOM WITH WOODSTOVE, COVERED FRONT PORCH AND AMAZING VIEWS OF LOCAL FAVORITE AVOCA HATCHERY. ALL APPLIANCES AND A 1 YEAR HSA HOME WARRANTY ARE INCLUDED WITH THE HOME! THIS GREAT LOCATION OFFERS EASY COMMUTES TO BEDFORD, BLOOMINGTON, CRANE AND SO MUCH MORE! STEP INSIDE THIS HOME AND SEE HOW YOU CAN MAKE IT YOUR OWN!

Key facts

• Covered front porch
• Formal dining room
• Amazing views

Tags

• SUNROOM
• FORMAL DINING ROOM
• LARGE LIVING ROOM
• WOODSTOVE
• COVERED FRONT PORCH
• AMAZING VIEWS

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $145k.

Deal economics

• At list price, monthly cash flow is $-57 ($-679/yr) — negative.
• To cash-flow at today's rent, offer at most $135k (6.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $105k (27.4% below list).
• Recommended offer: $105k (27.4% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 65/100 on livability (#360 in IN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: schools D, amenities F, commute F.
• North Lawrence Community Schools (rural): math 35% / reading 40% proficiency, ranked #170 of 301 in IN (top 56%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 46 active listings in the ZIP; 8 units permitted in Lawrence County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $6k of equity ($1k loan paydown + $5k appreciation (3.1% local appreciation)).
• Lawrence County population projected at -14% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (3.1% appreciation + 3.0% rent growth), your $41k cash investment doubles in ~7 years — after that, you're playing with house money.
• By year 7, paydown + projected appreciation supports a ~$35k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 77 days — a 6% lower offer ($136k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1958 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $105,158 (27.4% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 77 days. Have you received any prior offers? Is the seller open to a 27% concession, seller financing, or rate buy-down credit?
3. Built in 1958 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
8. 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.
9. 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.
10. 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: 0.73% ✗
• Cap rate: 5.82%
• Cash-on-cash: -1.67%
• DSCR: 0.93
• GRM: 11.5

CMA / ARV

• ARV (median comp): $187,709
• List price: $144,900
• Delta: -22.81%
• Verdict: UNDERPRICED
• Comps: 7 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
83 Graves Addition Rd	0.54mi	3/1.0 (+1)	1,328 (+4%)	7mo	$165,000	$124	57

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

3.11% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 6.2%
• Equity multiple: 1.36×
• Total profit: $14,613
• Equity at exit: $66,019

10-year hold

• IRR: 9.1%
• Equity multiple: 2.38×
• Total profit: $56,012
• Equity at exit: $102,422

Cash invested: $40,572 (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 47462

• Home prices YoY: 1.4%
• Active inventory: 46
• Price-to-rent: 11.5×

Monthly cashflow live

• Estimated rent: $1,052 medium
• Mortgage (P&I): −$760
• Tax from tax record: −$67 /mo · $805/yr
• Insurance: −$60
• HOA: −$0
• Vacancy / Maint / Mgmt: −$221
• Net cashflow: $-57

Break-even live

Break-even rent $1,123

Max offer price $134,909

Occupancy floor —

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: $36,225
• Closing costs: $4,347
• Reserves months: —
• Total cash needed: —

Listing history 19 events

1. 2026-06-19
   days on market $144,900 Active 77 DOM
2. 2026-06-18
   days on market $144,900 Active 76 DOM
3. 2026-06-17
   days on market $144,900 Active 75 DOM
4. 2026-06-16
   days on market $144,900 Active 74 DOM
5. 2026-06-15
   days on market $144,900 Active 73 DOM
6. 2026-06-14
   days on market $144,900 Active 71 DOM
7. 2026-06-13
   days on market $144,900 Active 70 DOM
8. 2026-06-10
   days on market $144,900 Active 68 DOM
9. 2026-06-09
   days on market $144,900 Active 67 DOM
10. 2026-06-08
    days on market $144,900 Active 66 DOM
11. 2026-06-07
    days on market $144,900 Active 65 DOM
12. 2026-06-05
    days on market $144,900 Active 62 DOM
13. 2026-06-03
    days on market $144,900 Active 61 DOM
14. 2026-06-02
    days on market $144,900 Active 60 DOM
15. 2026-06-01
    days on market $144,900 Active 59 DOM
16. 2026-05-31
    days on market $144,900 Active 58 DOM
17. 2026-05-30
    days on market $144,900 Active 57 DOM
18. 2026-04-03
    listed $144,900 Active 480-char remark

    Show marketing remark (480 chars)

    IT HAS THE LOCATION! IT HAS THE POTENTIAL! IT JUST NEEDS YOUR TLC! THIS LOVELY 2 BEDROOM, 1 BATHROOM HOME INCLUDES A SUNROOM, FORMAL DINING ROOM, LARGE LIVING ROOM WITH WOODSTOVE, COVERED FRONT PORCH AND AMAZING VIEWS OF LOCAL FAVORITE AVOCA HATCHERY. ALL APPLIANCES AND A 1 YEAR HSA HOME WARRANTY ARE INCLUDED WITH THE HOME! THIS GREAT LOCATION OFFERS EASY COMMUTES TO BEDFORD, BLOOMINGTON, CRANE AND SO MUCH MORE! STEP INSIDE THIS HOME AND SEE HOW YOU CAN MAKE IT YOUR OWN!

19. 2021-12-22
    soldstatus $130,000

ⓘ 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: $805 · $67/mo
• Projected year-2 tax: $1,018 · $85/mo
• Expected delta: +$213/yr (+$18/mo · 26.5%)

ⓘ 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 4/10 Moderate
• 🌡 Heat 4/10 Moderate 7 d/yr ≥105°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: $12,619
• − Mortgage interest: −$8,117
• − Property taxes: −$805
• − Insurance: −$724
• − Repairs & maintenance: −$1,010
• − Management: −$1,010
• − Depreciation: −$4,215
• Taxable loss: −$3,261
• Est. tax savings @ 24.0%: +$783
• After-tax cash flow: $104/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: North Lawrence Community Schools
• NCES district ID: 1807860
• Math proficiency: 35% ▼ -2.00%
• Reading proficiency: 40% ▼ -3.00%
• Median HH income: $44,566
• Composite: 31.88/100
• National rank: #5864
• State rank: #170 of 301 in IN

Livability — Avoca

• Score: 65/100
• State rank: #360
• US rank: #13571

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

• Census place: Avoca, IN
• City population: 77
• Population (ZIP): 4,949

Population outlook (Lawrence County) Hauer SSP2

• Today (2025): 44,347 people
• By 2030: 43,331 · -2.3%
• By 2040: 40,887 · -7.8%
• By 2050: 38,297 · -13.6%
• By 2075: 32,479 · -26.8%
• By 2100: 26,051 · -41.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (96%)
• Race & ethnicity: White 96% Two or more races 3% Hispanic / Latino 1%
• Common ancestry: Lithuanian 2% Italian 1% Slovak 1%
• Foreign-born: 1%
• Languages at home: 99% English-only · Spanish 1% German/W. Germanic 1%

Political lean MEDSL · Lawrence

• 2024 margin: Solid R (+51.0) · D 23.6% · R 74.6% · Other 1.7%
• 2008→2024 swing: -30.5pp toward R · 2008: -20.6pp · 2024: -51.0pp
• All cycles: 2024: R+51.0 2020: R+50.6 2016: R+51.5 2012: R+32.8 2008: R+20.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 3.11%
• Current HPI: 224.2249
• 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

+11.5% since first listed

2 events — show timeline

• 2026-04-03 Listed $144,900 IRMLS
• 2021-12-22 Sold (Public Records) $130,000 Public Records

Property tax history

+7.4%/yr

Latest (2025): $805 · -6.5% YoY. Source: county tax records.