205 S Mariah St · Winslow, IN 47598

$179,900

4 bd · 1.5 ba · 1,888 sqft · SingleFamily public records · 25 Days on market

Built 1930 1.70 ac lot

---

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).

• Cash flow +11.7/30.0
• ARV discount +7.5/15.0
• Appreciation +7.3/10.0
• DSCR +3.4/10.0
• Livability +3.2/5.0
• Schools +2.9/10.0
• 1% rule +2.5/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

This home is to be sold "As Is" and "Where Is".

Key facts

• New siding
• New gutters
• New electrical

Tags

• NEW ROOF
• NEW GUTTERS
• NEW SIDING
• CUSTOM-BUILT CABINETS
• STAINLESS STEEL APPLIANCES
• NEW ELECTRICAL

Property features AI

Exterior

• Parking: Attached garage (2 spaces); Gravel parking areas
• Utilities: Public water; Public sewer
• Home design: Single-family site-built home; Two stories
• Construction: Vinyl siding; Block foundation; Asphalt roof; Built as a site-built home
• Exterior features: Covered porch; Rolling slope lot

Interior

• Kitchen: Dishwasher; Microwave; Refrigerator; Electric oven; Gas range
• Bedrooms: Master on main level
• Flooring: Hardwood floors
• Bathrooms: Three full bathrooms; One main-level bathroom
• Heating & cooling: Heat pump heating; Multi-unit cooling
• Interior features: Master bedroom on the main level; Partial basement with exterior entry
• Laundry & utility: Washer and dryer included; Laundry on the main level

What this means for you Summary

Snapshot

• This is a 4-bed/1.5-bath single-family listed at $180k.

Deal economics

• At list price, monthly cash flow is $-53 ($-632/yr) — negative.
• To cash-flow at today's rent, offer at most $171k (5.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $134k (25.5% below list).
• Recommended offer: $134k (25.5% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 63/100 on livability (#439 in IN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: health & safety C-, crime D+, employment D+.
• Pike County School Corporation (rural): math 29% / reading 39% proficiency, ranked #203 of 301 in IN (top 67%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Winslow Elementary School (math 42% / reading 42%, grade F, #434 of 994 statewide, top 48%, 275 students, 57% FRL); Pike Central Middle School (math 20% / reading 33%, grade F, #236 of 330 statewide, top 72%, 366 students, 49% FRL); Pike Central High School (math 32% / reading 57%, grade F, #169 of 369 statewide, top 51%, 475 students, 44% FRL) — zoned schools average 50% FRL vs 33% district-wide (18 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 12 active listings in the ZIP; 7 units permitted in Pike County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $9k of equity ($1k loan paydown + $8k appreciation (4.6% local appreciation)).
• Pike County population projected at -20% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (4.6% appreciation + 3.0% rent growth), your $50k cash investment doubles in ~5 years — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 25 days — a 2% lower offer ($177k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 11y 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.
• Current owner paid $25k; list at $180k implies a 620% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1930 — 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 $134,093 (25.5% 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. Built in 1930 — 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 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?
5. Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
6. 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?
7. 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.
8. 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.
9. 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: 0.75% ✗
• Cap rate: 5.94%
• Cash-on-cash: -1.26%
• DSCR: 0.94
• GRM: 11.2

CMA / ARV

No comps found within radius.

Projected returns pro-forma

4.59% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 10.7%
• Equity multiple: 1.67×
• Total profit: $33,833
• Equity at exit: $97,464

10-year hold

• IRR: 12.2%
• Equity multiple: 3.13×
• Total profit: $107,188
• Equity at exit: $164,614

Cash invested: $50,372 (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 47598

• Home prices YoY: 1.8%
• Active inventory: 12
• Price-to-rent: 11.2×

Monthly cashflow live

• Estimated rent: $1,341 medium
• Mortgage (P&I): −$943
• Tax from tax record: −$94 /mo · $1,124/yr
• Insurance: −$75
• HOA: −$0
• Vacancy / Maint / Mgmt: −$282
• Net cashflow: $-53

Break-even live

Break-even rent $1,408

Max offer price $170,589

Occupancy floor 99%

Sensitivity live

Price	-10% $49	-5% $-2	+0% $-53	+5% $-104	+10% $-155
Rent	-10% $-159	-5% $-106	+0% $-53	+5% $0	+10% $53
Rate	-1.0pp $38	-0.5pp $-7	base $-53	+0.5pp $-99	+1.0pp $-147

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: $44,975
• Closing costs: $5,397
• Reserves months: —
• Total cash needed: —

Listing history 24 events

1. 2026-06-21
   days on market $179,900 Active 25 DOM
2. 2026-06-19
   days on market $179,900 Active 23 DOM
3. 2026-06-18
   days on market $179,900 Active 22 DOM
4. 2026-06-17
   days on market $179,900 Active 21 DOM
5. 2026-06-16
   days on market $179,900 Active 20 DOM
6. 2026-06-15
   days on market $179,900 Active 19 DOM
7. 2026-06-14
   days on market $179,900 Active 17 DOM
8. 2026-06-12
   days on market $179,900 Active 16 DOM
9. 2026-06-09
   days on market $179,900 Active 13 DOM
10. 2026-06-08
    days on market $179,900 Active 12 DOM
11. 2026-06-07
    days on market $179,900 Active 11 DOM
12. 2026-06-07
    days on market $179,900 Active 10 DOM
13. 2026-06-04
    days on market $179,900 Active 7 DOM
14. 2026-06-02
    days on market $179,900 Active 6 DOM
15. 2026-06-01
    days on market $179,900 Active 5 DOM
16. 2026-05-31
    days on market $179,900 Active 4 DOM
17. 2026-05-31
    days on market $179,900 Active 3 DOM
18. 2026-05-27
    listed $179,900 Active
19. 2022-10-11
    soldstatus $25,000
20. 2016-02-16
    soldstatus $13,000
21. 2016-02-09
    soldstatus $13,000 67-char remark

    Show marketing remark (67 chars)

    This home is to be sold "As Is" and "Where Is".

22. 2015-06-03
    listed $13,000 67-char remark

    Show marketing remark (67 chars)

    This home is to be sold "As Is" and "Where Is".

23. 2009-03-10
    soldstatus $47,000
24. 2009-03-10
    soldstatus $47,000

ⓘ 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: $1,124 · $94/mo
• Projected year-2 tax: $1,327 · $111/mo
• Expected delta: +$203/yr (+$17/mo · 18.0%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 5/10 Major 7 d/yr ≥105°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 · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $16,091
• − Mortgage interest: −$10,077
• − Property taxes: −$1,124
• − Insurance: −$900
• − Repairs & maintenance: −$1,287
• − Management: −$1,287
• − Depreciation: −$5,233
• Taxable loss: −$3,818
• Est. tax savings @ 24.0%: +$916
• After-tax cash flow: $284/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: Pike County School Corporation
• NCES district ID: 1808900
• Math proficiency: 29% ▼ -6.00%
• Reading proficiency: 39% ▼ -2.00%
• Median HH income: $43,646
• Composite: 28.88/100
• National rank: #6642
• State rank: #203 of 301 in IN

Livability — Winslow

• Score: 63/100
• State rank: #439
• US rank: #15731

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Winslow, IN
• Population (ZIP): 2,908

Population outlook (Pike County) Hauer SSP2

• Today (2025): 11,816 people
• By 2030: 11,348 · -4.0%
• By 2040: 10,351 · -12.4%
• By 2050: 9,410 · -20.4%
• By 2075: 7,638 · -35.4%
• By 2100: 6,118 · -48.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (96%)
• Race & ethnicity: White 96% Two or more races 2% Hispanic / Latino 2%
• Common ancestry: Slovak 3% Iranian 2% Romanian 2%
• Foreign-born: 1%

Political lean MEDSL · Pike

• 2024 margin: Solid R (+54.9) · D 21.9% · R 76.7% · Other 1.4%
• 2008→2024 swing: -46.2pp toward R · 2008: -8.6pp · 2024: -54.9pp
• All cycles: 2024: R+54.9 2020: R+52.7 2016: R+51.9 2012: R+25.4 2008: R+8.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 4.59%
• Current HPI: 256.5906
• 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

+282.8% since first listed

7 events — show timeline

• 2026-05-27 Listed $179,900 IRMLS
• 2022-10-11 Sold (Public Records) $25,000 Public Records
• 2016-02-16 Sold (Public Records) $13,000 Public Records
• 2016-02-09 Sold (MLS) $13,000 IRMLS
• 2015-06-03 Listed $13,000 IRMLS
• 2009-03-10 Sold (Public Records) $47,000 Public Records
• 2009-03-10 Sold (Public Records) $47,000 Public Records

Property tax history

+7.1%/yr

Latest (2024): $1,124 · -46.8% YoY. Source: county tax records.