1406 S 5th St · Clinton, IN 47842

$96,750

2 bd · 1.0 ba · 1,120 sqft · SingleFamily public records · 6 Days on market

Built 1910 7,405 sqft lot Est $116k · 17% under

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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 +22.3/30.0
• ARV discount +15.0/15.0
• DSCR +7.1/10.0
• Appreciation +6.0/10.0
• 1% rule +5.3/10.0
• Schools +3.1/10.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

Affordable and move-in ready! This charming bungalow offers 2 bedrooms, 1 bath, and a versatile bonus room with flexibility for a home office, nursery, craft room, or additional living space. Conveniently located close to town amenities, this home offers both comfort and practicality in an affordable package. The oversized heated 2-car detached garage provides excellent space for storage, hobbies, workshop needs, or weekend projects. Whether you’re looking for a starter home, downsizing opportunity, or investment property, this home is full of potential and offers a great opportunity to own for less than rent!

Key facts

• Bonus room
• Detached garage
• 7,405 sq ft lot

Tags

• BONUS ROOM
• DETACHED GARAGE
• CLOSE TO TOWN AMENITIES

Property features AI

Exterior

• Parking: Detached gravel garage with 2 car spaces
• Utilities: Public sewer
• Home design: Single-family residence; Single-story
• Construction: Vinyl siding construction; Shingle roof; Partial unfinished crawl space basement
• Exterior features: Covered patio/porch; Shingle roof; Vinyl siding

Interior

• Kitchen: Electric range, electric oven, refrigerator
• Bathrooms: 1 full bathroom
• Heating & cooling: Central air conditioning; Natural gas heating
• Interior features: Electric range, electric oven, refrigerator; Partial, crawl space, unfinished basement

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $97k.

Deal economics

• At list price, monthly cash flow is $160 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($993 rent vs $97k).
• Cap rate 8.3% vs local median 6.3% in Clinton — 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 62/100 on livability (#474 in IN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime B; Watch: amenities F, commute F, employment F.
• South Vermillion Community School Corporation (rural): math 31% / reading 42% proficiency, ranked #182 of 301 in IN (top 60%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Central Elementary School (math 27% / reading 37%, grade F, #652 of 994 statewide, top 68%, 302 students, 64% FRL); South Vermillion High School (math 27% / reading 62%, grade F, #169 of 369 statewide, top 51%, 478 students, 54% FRL).
• Market conditions: 48 active listings in the ZIP; 28 units permitted in Vermillion County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $3k of equity ($668 loan paydown + $2k appreciation (2.0% local appreciation)).
• Vermillion County population projected at -22% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (2.0% appreciation + 3.0% rent growth), your $27k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1910 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $96,750

Questions for the listing agent

1. Built in 1910 — 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. 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.
5. 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.
6. 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: 1.03% ✓
• Cap rate: 8.27%
• Cash-on-cash: 7.07%
• DSCR: 1.31
• GRM: 8.1

CMA / ARV

• ARV (on-the-fly): $116,480
• Comps found: 9

Show comp detail 9 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1400 S 8th St	0.22mi	2/1.5	1,205 (+8%)	6mo	$93,750	$78	70
1505 S 3rd St	0.14mi	2/1.0	1,010 (-10%)	12mo	$105,000	$104	67
931 S Main St	0.40mi	2/1.0	1,032 (-8%)	4mo	$114,000	$110	65
1138 S 3rd St	0.26mi	2/1.0	1,020 (-9%)	11mo	$83,000	$81	64
1013 S 3rd St	0.32mi	2/1.0	1,234 (+10%)	8mo	$125,000	$101	62
702 S 5th St	0.50mi	2/1.0	1,028 (-8%)	4mo	$118,000	$115	60
947 S Main St	0.39mi	3/1.0 (+1)	1,232 (+10%)	3mo	$55,000	$45	58
415 S 7th St	0.74mi	2/1.0	1,280 (+14%)	2mo	$134,900	$105	40
433 S 8th St	0.74mi	2/2.0	1,002 (-10%)	13mo	$137,500	$137	33

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

Projected returns pro-forma

1.98% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 11.4%
• Equity multiple: 1.62×
• Total profit: $16,712
• Equity at exit: $38,081

10-year hold

• IRR: 14.3%
• Equity multiple: 2.91×
• Total profit: $51,858
• Equity at exit: $54,776

Cash invested: $27,090 (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 47842

• Home prices YoY: 1.0%
• Active inventory: 48
• Price-to-rent: 8.1×

Monthly cashflow live

• Estimated rent: $993 medium
• Mortgage (P&I): −$507
• Tax from tax record: −$77 /mo · $924/yr
• Insurance: −$40
• HOA: −$0
• Vacancy / Maint / Mgmt: −$208
• Net cashflow: $160

Break-even live

Break-even rent $791

Max offer price $96,750

Occupancy floor 79%

Sensitivity live

Price	-10% $214	-5% $187	+0% $160	+5% $132	+10% $105
Rent	-10% $81	-5% $120	+0% $160	+5% $199	+10% $238
Rate	-1.0pp $208	-0.5pp $184	base $160	+0.5pp $135	+1.0pp $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: $24,188
• Closing costs: $2,902
• Reserves months: —
• Total cash needed: —

Listing history 2 events

1. 2026-05-19
   status Pending
2. 2026-05-12
   listed $96,750 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: $924 · $77/mo
• Projected year-2 tax: $924 · $77/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 4/10 Moderate 7 d/yr ≥104°F today · 19 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $11,913
• − Mortgage interest: −$5,420
• − Property taxes: −$924
• − Insurance: −$484
• − Repairs & maintenance: −$953
• − Management: −$953
• − Depreciation: −$2,815
• Taxable income: $365
• Est. tax owed @ 24.0%: −$88
• After-tax cash flow: $1,828/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 Vermillion Community School Corporation
• NCES district ID: 1810590
• Math proficiency: 31% ▼ -6.00%
• Reading proficiency: 42% ▬ 0.00%
• Median HH income: $42,809
• Composite: 30.87/100
• National rank: #6123
• State rank: #182 of 301 in IN

Livability — Clinton

• Score: 62/100
• State rank: #474
• US rank: #16763

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Clinton, IN
• Population (ZIP): 9,675

Population outlook (Vermillion County) Hauer SSP2

• Today (2025): 14,605 people
• By 2030: 13,942 · -4.5%
• By 2040: 12,592 · -13.8%
• By 2050: 11,381 · -22.1%
• By 2075: 9,063 · -37.9%
• By 2100: 7,098 · -51.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (97%)
• Race & ethnicity: White 97% Two or more races 3%
• Common ancestry: Italian 2% Lithuanian 2% Iranian 1%
• Foreign-born: 0%

Political lean MEDSL · Vermillion

• 2024 margin: Solid R (+44.7) · D 26.6% · R 71.3% · Other 2.1%
• 2008→2024 swing: -58.7pp toward R · 2008: 13.9pp · 2024: -44.7pp
• All cycles: 2024: R+44.7 2020: R+40.6 2016: R+35.1 2012: R+6.8 2008: D+13.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 1.98%
• Current HPI: 201.465
• 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

2 events — show timeline

• 2026-05-19 Pending — THAAR
• 2026-05-12 Listed $96,750 THAAR

Property tax history

-4.0%/yr

Latest (2024): $924 · +16.7% YoY. Source: county tax records.