309 N Center St · Flora, IN 46929

$134,900

2 bd · 1.0 ba · 1,234 sqft · SingleFamily public records · 7 Days on market

Built 1900 0.35 ac lot $109/sqft · 15% below area Est $159k · 15% under

---

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 +17.8/30.0
• ARV discount +14.3/15.0
• DSCR +5.6/10.0
• 1% rule +3.6/10.0
• Schools +3.5/10.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Charming and inviting 2-bedroom bungalow offering over 1,200 sq ft of comfortable living space! This home features a spacious living room, formal dining room, and a fully applianced kitchen, plus a cozy den perfect for a home office or additional living area. The laundry is in the den and the washer and dryer stay with the home. Enjoy your morning coffee or unwind in the enclosed front porch, adding extra charm and versatility. Outside, you'll find a large yard, partially fenced, and ready for a garden or ideal for pets or outdoor enjoyment, along with a 2-car detached garage and a fire pit for relaxing evenings and entertaining. A wonderful blend of character, space, and outdoor living--do

Key facts

• Partially fenced
• Large yard
• Fire pit

Tags

• FULLY APPLIANCED KITCHEN
• ENCLOSED FRONT PORCH
• LARGE YARD
• PARTIALLY FENCED
• FIRE PIT

Property features AI

Exterior

• Parking: Detached garage; Garage faces front; Driveway (concrete); 2-car garage
• Utilities: Public water; Public sewer
• Home design: Single-story home; Built in 1900
• Construction: Year built: 1900
• Exterior features: Neighborhood view; Public lot information per assessor

Interior

• Kitchen: Disposal; Refrigerator; Electric range
• Bedrooms: Primary bedroom; Second bedroom
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating (natural gas); Ceiling fans for cooling
• Interior features: Ceiling fans; Country-style kitchen; Unfinished basement
• Laundry & utility: Basement utility space

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $135k.

Deal economics

• At list price, monthly cash flow is $111 ($1k/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 $116k (14.2% below list).
• Recommended offer: $116k (14.2% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 68/100 on livability (#220 in IN) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: schools C-, employment D+, amenities F.
• Carroll Consolidated School Corporation (rural): math 39% / reading 42% proficiency, ranked #129 of 301 in IN (top 43%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 9 active listings in the ZIP; 32 units permitted in Carroll County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $933 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Carroll County population projected at -14% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• Only 7 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts since 9y 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 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $115,768 (14.2% below list)

Questions for the listing agent

1. Built in 1900 — 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. 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.
4. 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.
5. 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: 0.86% ✗
• Cap rate: 7.28%
• Cash-on-cash: 3.53%
• DSCR: 1.16
• GRM: 9.7

CMA / ARV

• ARV (median comp): $159,011
• List price: $134,900
• Delta: -15.16%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 11 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
309 N Center St	0.00mi	2/1.0	1,234 (0%)	0mo	$134,900	$109	100
215 S Division St	0.33mi	2/1.0	1,132 (-8%)	8mo	$155,000	$137	64
207 S Center St	0.32mi	2/1.5	1,224 (-1%)	22mo	$172,000	$141	63
608 E Columbia St	0.45mi	2/1.0	1,064 (-14%)	1mo	$147,500	$139	55
212 S Willow St	0.36mi	3/1.0 (+1)	1,092 (-12%)	8mo	$169,900	$156	53
707 S Division St	0.59mi	3/2.0 (+1)	1,260 (+2%)	12mo	$160,000	$127	50
204 Brookview Ln	0.30mi	3/1.0 (+1)	1,096 (-11%)	19mo	$160,000	$146	46
124 E Clem St	0.41mi	2/1.5	1,092 (-12%)	19mo	$179,000	$164	44
317 W Maple St	0.26mi	3/2.0 (+1)	1,416 (+15%)	13mo	$210,000	$148	43
817 Sunset Dr	0.74mi	3/2.0 (+1)	1,265 (+2%)	15mo	$192,000	$152	40
806 S Division St	0.65mi	2/1.0	1,074 (-13%)	18mo	$170,000	$158	33

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: -10.8%
• Equity multiple: 0.61×
• Total profit: $-14,850
• Equity at exit: $20,114

10-year hold

• IRR: -1.6%
• Equity multiple: 0.89×
• Total profit: $-4,077
• Equity at exit: $11,664

Cash invested: $37,772 (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 46929

• Home prices YoY: -9.7%
• Active inventory: 9
• Price-to-rent: 9.7×

Monthly cashflow live

• Estimated rent: $1,158 medium
• Mortgage (P&I): −$707
• Tax from tax record: −$40 /mo · $479/yr
• Insurance: −$56
• HOA: −$0
• Vacancy / Maint / Mgmt: −$243
• Net cashflow: $111

Break-even live

Break-even rent $1,017

Max offer price $134,900

Occupancy floor 85%

Sensitivity live

Price	-10% $187	-5% $149	+0% $111	+5% $73	+10% $35
Rent	-10% $20	-5% $65	+0% $111	+5% $157	+10% $202
Rate	-1.0pp $179	-0.5pp $145	base $111	+0.5pp $76	+1.0pp $41

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: $33,725
• Closing costs: $4,047
• Reserves months: —
• Total cash needed: —

Listing history 7 events

1. 2026-05-11
   status Pending 841-char remark
2. 2026-05-04
   listed $134,900 Active 841-char remark
3. 2026-05-04
   listed $134,900 Active 840-char remark
4. 2020-09-11
   soldstatus $88,500
5. 2020-08-06
   listed $85,000
6. 2017-08-23
   listed $62,500
7. 2009-08-14
   soldstatus $43,875

ⓘ 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: $479 · $40/mo
• Projected year-2 tax: $813 · $68/mo
• Expected delta: +$334/yr (+$28/mo · 69.7%)

ⓘ 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 · 17 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $13,892
• − Mortgage interest: −$7,556
• − Property taxes: −$479
• − Insurance: −$674
• − Repairs & maintenance: −$1,111
• − Management: −$1,111
• − Depreciation: −$3,924
• Taxable loss: −$965
• Est. tax savings @ 24.0%: +$232
• After-tax cash flow: $1,564/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: Carroll Consolidated School Corporation
• NCES district ID: 1801290
• Math proficiency: 39% ▼ -11.00%
• Reading proficiency: 42% ▼ -12.00%
• Median HH income: $51,686
• Composite: 35.06/100
• National rank: #5031
• State rank: #129 of 301 in IN

Livability — Flora

• Score: 68/100
• State rank: #220
• US rank: #9614

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Flora, IN
• Population (ZIP): 3,029

Population outlook (Carroll County) Hauer SSP2

• Today (2025): 19,409 people
• By 2030: 18,970 · -2.3%
• By 2040: 17,934 · -7.6%
• By 2050: 16,753 · -13.7%
• By 2075: 14,084 · -27.4%
• By 2100: 11,350 · -41.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (88%)
• Race & ethnicity: White 88% Two or more races 5% Black 4% Hispanic / Latino 4%
• Common ancestry: Iranian 2% Serbian 1% Romanian 1%
• Foreign-born: 1% · Canada
• Languages at home: 98% English-only · Spanish 2%

Political lean MEDSL · Carroll

• 2024 margin: Solid R (+52.1) · D 23.1% · R 75.2% · Other 1.7%
• 2008→2024 swing: -39.3pp toward R · 2008: -12.8pp · 2024: -52.1pp
• All cycles: 2024: R+52.1 2020: R+51.2 2016: R+50.9 2012: R+30.3 2008: R+12.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -28.77%
• Current HPI: 267.9911
• 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

+207.5% since first listed

8 events — show timeline

• 2026-06-11 Sold (MLS) $134,900 NIRA MLS as Distributed by MLS Grid
• 2026-05-11 Pending — NIRA MLS as Distributed by MLS Grid
• 2026-05-04 Listed $134,900 IRMLS
• 2026-05-04 Listed $134,900 NIRA MLS as Distributed by MLS Grid
• 2020-09-11 Sold (MLS) $88,500 IRMLS
• 2020-08-06 Listed $85,000 IRMLS
• 2017-08-23 Listed $62,500 IRMLS
• 2009-08-14 Sold (Public Records) $43,875 Public Records

Property tax history

+5.7%/yr

Latest (2025): $479 · +17.9% YoY. Source: county tax records.