415 N Meridian Sta · Sweetser, IN 46987

$114,900

2 bd · 1.0 ba · 864 sqft · SingleFamily · 1 Days on market

Built 1952 Good condition 8,712 sqft lot Est $92k · 24% over

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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).

• Cash flow +11.4/30.0
• Appreciation +5.9/10.0
• Schools +3.9/10.0
• Condition / age +3.8/5.0
• Livability +3.4/5.0
• 1% rule +3.3/10.0
• DSCR +3.3/10.0
• Rent growth +2.5/5.0
• ARV discount +0.0/15.0

Listing remarks

Cute and cozy bungalow in Sweetser, Indiana! This charming 2-bedroom home offers comfortable living with a spacious living room and plenty of character. The kitchen comes fully equipped with appliances and features a new farmhouse sink with a convenient fruit and vegetable tray, a new faucet, and a range that is only 5 months old. Recent updates include a new roof and gutters (2025), new water heater (November 2021), and new bathroom flooring. The home also includes two window air conditioning units for added comfort. Outside, you'll find a detached garage with opener, a privacy-fenced backyard, and a large storage shed, providing plenty of space for outdoor living and storage. Located in t

Key facts

• New farmhouse sink
• New faucet
• New gutters

Tags

• NEW FARMHOUSE SINK
• NEW FAUCET
• NEW ROOF
• NEW GUTTERS
• NEW WATER HEATER
• NEW BATHROOM FLOORING

Property features AI

Exterior

• Parking: Detached garage with 1 car space; Driveway; Garage door opener
• Security: Smoke detector(s)
• Utilities: Private well water; Public sewer
• Home design: Single-family, site-built home; Single-story
• Construction: Vinyl siding construction; Asphalt roof; Crawl space foundation
• Exterior features: Level lot; Lot dimensions approximately 66 x 132; Asphalt roof; Vinyl siding

Interior

• Kitchen: Electric range; Refrigerator
• Bedrooms: Total of 4 rooms (includes bedrooms and living spaces)
• Bathrooms: 1 full bathroom (main level)
• Heating & cooling: Forced air heating (natural gas); Window cooling units
• Interior features: Smoke detector(s); Storm door(s); Crawl space basement
• Laundry & utility: Washer and dryer included; Main-level laundry; Water softener (rented); Gas water heater

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $115k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $-40 ($-479/yr) — negative.
• To cash-flow at today's rent, offer at most $109k (5.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $95k (16.9% below list).
• Recommended offer: $95k (16.9% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 67/100 on livability (#239 in IN) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F, health & safety D-.
• Oak Hill United School Corporation (rural): math 40% / reading 50% proficiency, ranked #96 of 301 in IN (top 32%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Converse Elementary School (330 students, 42% FRL); Oak Hill Junior High School (math 41% / reading 52%, grade D+, #72 of 330 statewide, top 22%, 269 students, 42% FRL); Oak Hill High School (math 32% / reading 72%, grade D+, #106 of 369 statewide, top 31%, 537 students, 38% FRL).
• Market conditions: 10 active listings in the ZIP; 52 units permitted in Grant County in 2024 (8 in 5+ unit buildings).

Forward outlook

• In year one you build about $3k of equity ($794 loan paydown + $2k appreciation (1.7% local appreciation)).
• Grant County population projected at -18% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (1.7% appreciation + 3.0% rent growth), your $32k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1952 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $95,458 (16.9% 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 1952 — 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. 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?
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: 0.83% ✗
• Cap rate: 5.88%
• Cash-on-cash: -1.49%
• DSCR: 0.93
• GRM: 10.0

CMA / ARV

• ARV (on-the-fly): $92,448
• Comps found: 3

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
5430 W Delphi Pike	0.51mi	2/1.0	868 (+0%)	6mo	$90,000	$104	71
300 W Hubert St	0.21mi	2/1.0	930 (+8%)	15mo	$99,900	$107	65
300 Hubert St	0.22mi	2/1.0	930 (+8%)	15mo	$99,900	$107	65

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

Projected returns pro-forma

1.73% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 2.2%
• Equity multiple: 1.12×
• Total profit: $3,792
• Equity at exit: $43,664

10-year hold

• IRR: 6.3%
• Equity multiple: 1.84×
• Total profit: $26,962
• Equity at exit: $61,629

Cash invested: $32,172 (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 46987

• Home prices YoY: 1.0%
• Active inventory: 10
• Price-to-rent: 10.0×

Monthly cashflow live

• Estimated rent: $955 medium
• Mortgage (P&I): −$603
• Tax est. 1.5%: −$144 /mo · $1,724/yr
• Insurance: −$48
• HOA: −$0
• Vacancy / Maint / Mgmt: −$200
• Net cashflow: $-40

Break-even live

Break-even rent $1,005

Max offer price $109,122

Occupancy floor 99%

Sensitivity live

Price	-10% $39	-5% $0	+0% $-40	+5% $-80	+10% $-119
Rent	-10% $-115	-5% $-78	+0% $-40	+5% $-2	+10% $35
Rate	-1.0pp $18	-0.5pp $-11	base $-40	+0.5pp $-70	+1.0pp $-100

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: $28,725
• Closing costs: $3,447
• Reserves months: —
• Total cash needed: —

Listing history 2 events

1. 2026-06-19
   remarks 699-char remark
2. 2026-06-19
   listed $114,900 Active 1 DOM

ⓘ 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 3/10 Moderate 7 d/yr ≥101°F today · 17 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 0% 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: $11,455
• − Mortgage interest: −$6,436
• − Property taxes: −$1,724
• − Insurance: −$574
• − Repairs & maintenance: −$916
• − Management: −$916
• − Depreciation: −$3,343
• Taxable loss: −$2,455
• Est. tax savings @ 24.0%: +$589
• After-tax cash flow: $110/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.

Condition & rehab AI · 6 photos

Good 75/100 Cosmetic rehab

This charming bungalow in Sweetser, Indiana, is in good condition with recent updates including a new roof, water heater, and bathroom flooring. It offers a cozy living space with potential for further improvements to enhance its curb appeal and functionality.

Value-add opportunities

• Both Painting exterior siding — Enhances curb appeal and value.
• Both Landscaping and shrubbery trimming — Improves curb appeal and enhances property value.
• Both Reorganizing interior spaces — Creates a more functional and appealing living space for potential buyers/renters.

Renovation cost estimate screening

Value-add ROI direction

• Both Painting exterior siding — Enhances curb appeal and value. ↑
• Both Landscaping and shrubbery trimming — Improves curb appeal and enhances property value. ↑
• Both Reorganizing interior spaces — Creates a more functional and appealing living space for potential buyers/renters. ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Oak Hill United School Corporation
• NCES district ID: 1808340
• Math proficiency: 40% ▼ -1.00%
• Reading proficiency: 50% ▼ -2.00%
• Median HH income: $52,442
• Composite: 38.84/100
• National rank: #4105
• State rank: #96 of 301 in IN

Livability — Sweetser

• Score: 67/100
• State rank: #239
• US rank: #10305

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Sweetser, IN
• City population: 1,109
• Population (ZIP): 1,109

Population outlook (Grant County) Hauer SSP2

• Today (2025): 64,394 people
• By 2030: 62,145 · -3.5%
• By 2040: 57,252 · -11.1%
• By 2050: 52,968 · -17.7%
• By 2075: 45,986 · -28.6%
• By 2100: 39,400 · -38.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (94%)
• Race & ethnicity: White 94% Two or more races 5%
• Common ancestry: Russian 2% Italian 2% Iranian 2%
• Foreign-born: 0%

Political lean MEDSL · Grant

• 2024 margin: Solid R (+41.8) · D 28.2% · R 70.0% · Other 1.9%
• 2008→2024 swing: -28.7pp toward R · 2008: -13.1pp · 2024: -41.8pp
• All cycles: 2024: R+41.8 2020: R+38.8 2016: R+39.5 2012: R+22.0 2008: R+13.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 1.73%
• Current HPI: 167.6165
• 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