7145 W Versailles St · Holton, IN 47023

$130,000

3 bd · 2.0 ba · 1,232 sqft · Manufactured public records · 29 Days on market

Built 1978

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Why this score? — see what drove the C- 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 +16.7/30.0
• Appreciation +8.4/10.0
• ARV discount +7.5/15.0
• DSCR +5.2/10.0
• 1% rule +4.5/10.0
• Schools +4.0/10.0
• Livability +2.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Super clean move in ready with new carpet and laminate flooring. Includes large garage / workshop with a concrete floor. A 20x20 Unique stone building that would be a great storm shelter or storage. Has a large level yard.

Key facts

• New ac unit
• Heat pump
• Newer roof

Tags

• WALK IN SHOWER
• NEWER ROOF
• NEW AC UNIT
• ELECTRIC FURNACE
• HEAT PUMP

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $130k.

Deal economics

• At list price, monthly cash flow is $80 ($961/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $124k (4.7% below list).
• Recommended offer: $124k (4.7% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 57/100 on livability (#604 in IN) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing B+; Watch: crime D, health & safety D, schools F.
• South Ripley Community School Corporation (rural): math 43% / reading 52% proficiency, ranked #80 of 301 in IN (top 27%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 7 active listings in the ZIP; 110 units permitted in Ripley County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $10k of equity ($899 loan paydown + $9k appreciation (6.8% local appreciation)).
• Ripley County population projected at -10% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (6.8% appreciation + 3.0% rent growth), your $36k cash investment doubles in ~4 years — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 29 days — a 2% lower offer ($128k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 14y 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 $62k; list at $130k implies a 111% gain — meaningful room to come down on a strong offer.

Recommended offer $123,859 (4.7% below list)

Questions for the listing agent

1. Built in 1978 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
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: 0.95% ✗
• Cap rate: 7.03%
• Cash-on-cash: 2.64%
• DSCR: 1.12
• GRM: 8.7

CMA / ARV

No comps found within radius.

Projected returns pro-forma

6.85% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 19.5%
• Equity multiple: 2.35×
• Total profit: $49,299
• Equity at exit: $88,793

10-year hold

• IRR: 18.5%
• Equity multiple: 4.84×
• Total profit: $139,650
• Equity at exit: $167,507

Cash invested: $36,400 (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 47023

• Home prices YoY: 3.5%
• Active inventory: 7
• Price-to-rent: 8.7×

Monthly cashflow live

• Estimated rent: $1,239 medium
• Mortgage (P&I): −$682
• Tax est. 1.5%: −$162 /mo · $1,950/yr
• Insurance: −$54
• HOA: −$0
• Vacancy / Maint / Mgmt: −$260
• Net cashflow: $80

Break-even live

Break-even rent $1,137

Max offer price $130,000

Occupancy floor 89%

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: $32,500
• Closing costs: $3,900
• Reserves months: —
• Total cash needed: —

Listing history 22 events

1. 2026-06-18
   days on market $130,000 Active 29 DOM
2. 2026-06-17
   days on market $130,000 Active 28 DOM
3. 2026-06-16
   days on market $130,000 Active 27 DOM
4. 2026-06-15
   days on market $130,000 Active 26 DOM
5. 2026-06-13
   days on market $130,000 Active 24 DOM
6. 2026-06-12
   days on market $130,000 Active 23 DOM
7. 2026-06-09
   days on market $130,000 Active 20 DOM
8. 2026-06-08
   days on market $130,000 Active 19 DOM
9. 2026-06-07
   days on market $130,000 Active 18 DOM
10. 2026-06-07
    days on market $130,000 Active 17 DOM
11. 2026-06-04
    days on market $130,000 Active 14 DOM
12. 2026-06-02
    days on market $130,000 Active 13 DOM
13. 2026-06-01
    days on market $130,000 Active 12 DOM
14. 2026-05-31
    days on market $130,000 Active 11 DOM
15. 2026-05-31
    days on market $130,000 Active 10 DOM
16. 2026-05-21
    listed $130,000 Active
17. 2026-02-03
    historical
18. 2026-01-30
    listed $119,900 Active
19. 2018-12-27
    soldstatus $61,500 222-char remark

    Show marketing remark (222 chars)

    Super clean move in ready with new carpet and laminate flooring. Includes large garage / workshop with a concrete floor. A 20x20 Unique stone building that would be a great storm shelter or storage. Has a large level yard.

20. 2018-07-02
    listed $69,900 222-char remark

    Show marketing remark (222 chars)

    Super clean move in ready with new carpet and laminate flooring. Includes large garage / workshop with a concrete floor. A 20x20 Unique stone building that would be a great storm shelter or storage. Has a large level yard.

21. 2014-03-14
    soldstatus $59,000
22. 2012-09-26
    listed $62,000

ⓘ 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 4/10 Moderate 7 d/yr ≥102°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 · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $14,863
• − Mortgage interest: −$7,282
• − Property taxes: −$1,950
• − Insurance: −$650
• − Repairs & maintenance: −$1,189
• − Management: −$1,189
• − Depreciation: −$3,782
• Taxable loss: −$1,179
• Est. tax savings @ 24.0%: +$283
• After-tax cash flow: $1,244/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 Ripley Community School Corporation
• NCES district ID: 1810530
• Math proficiency: 43% ▼ -8.00%
• Reading proficiency: 52% ▼ -10.00%
• Median HH income: $46,653
• Composite: 40.36/100
• National rank: #3740
• State rank: #80 of 301 in IN

Livability — Holton

• Score: 57/100
• State rank: #604
• US rank: #21728

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Holton, IN
• City population: 2,076
• Population (ZIP): 2,076

Population outlook (Ripley County) Hauer SSP2

• Today (2025): 28,713 people
• By 2030: 28,400 · -1.1%
• By 2040: 27,288 · -5.0%
• By 2050: 25,691 · -10.5%
• By 2075: 22,222 · -22.6%
• By 2100: 17,965 · -37.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (94%)
• Race & ethnicity: White 94% Two or more races 4% Asian 1%
• Common ancestry: Italian 13% Serbian 2% Lithuanian 1%
• Foreign-born: 1%
• Languages at home: 97% English-only · Tagalog/Filipino 1% Spanish 1% German/W. Germanic 1%

Political lean MEDSL · Ripley

• 2024 margin: Solid R (+61.5) · D 18.6% · R 80.1% · Other 1.2%
• 2008→2024 swing: -31.9pp toward R · 2008: -29.6pp · 2024: -61.5pp
• All cycles: 2024: R+61.5 2020: R+59.5 2016: R+57.4 2012: R+38.6 2008: R+29.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 6.85%
• Current HPI: 201.6231
• 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

+109.7% since first listed

7 events — show timeline

• 2026-05-21 Listed $130,000 FSBO.com
• 2026-02-03 Listing Removed — NIRA MLS as Distributed by MLS Grid
• 2026-01-30 Listed $119,900 NIRA MLS as Distributed by MLS Grid
• 2018-12-27 Sold (MLS) $61,500 SEIBR
• 2018-07-02 Listed $69,900 SEIBR
• 2014-03-14 Sold (MLS) $59,000 SEIBR
• 2012-09-26 Listed $62,000 SEIBR

Property tax history

-24.1%/yr

Latest (2024): $51 · -36.3% YoY. Source: county tax records.