1160 US Hwy 50 · North Vernon, IN 47265

$45,900

3 bd · 1.0 ba · 1,264 sqft · SingleFamily public records · 235 Days on market

Built 1954 0.46 ac lot $36/sqft · 65% below area ↓ 24% since listing

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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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Livability +4.0/5.0
• Schools +3.0/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

New price on this brick ranch fixer-upper home situated on .46 acre lot. Offering three bedrooms and one bath, this home has rear deck with large fenced yard and a detached two car garage. Contact listing broker for additional information regarding this property.

Key facts

• Large fenced yard
• .46 acre lot
• Rear deck

Tags

• REAR DECK
• LARGE FENCED YARD
• DETACHED TWO CAR GARAGE
• .46 ACRE LOT

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $46k.

Deal economics

• At list price, monthly cash flow is $863 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $46k).
• Recommended offer: $40k (12.0% below list) — sets the bar for market timing.
• Cap rate 28.9% vs local median 4.1% in North Vernon — 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 79/100 on livability (#29 in IN, #2,347 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: amenities D, schools D-, commute F.
• Jennings County School Corporation (rural): math 32% / reading 38% proficiency, ranked #194 of 301 in IN (top 64%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 160 active listings in the ZIP; 84 units permitted in Jennings County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $317 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• Jennings County population projected at -21% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $13k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 235 days — a 12% lower offer ($40k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $54k (54%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1954 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $40,392 (12.0% below list)

Questions for the listing agent

1. It's been on market 235 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1954 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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.
7. 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.
8. 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: 3.15% ✓
• Cap rate: 28.86%
• Cash-on-cash: 80.58%
• DSCR: 4.59
• GRM: 2.6

CMA / ARV

• ARV (median comp): $133,238
• List price: $45,900
• Delta: -65.55%
• Verdict: UNDERPRICED
• Comps: 2 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 80.8%
• Equity multiple: 4.70×
• Total profit: $47,528
• Equity at exit: $6,844

10-year hold

• IRR: 84.2%
• Equity multiple: 9.73×
• Total profit: $112,158
• Equity at exit: $3,969

Cash invested: $12,852 (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 47265

• Home prices YoY: -31.5%
• Active inventory: 160
• Price-to-rent: 2.6×

Monthly cashflow live

• Estimated rent: $1,445 medium
• Mortgage (P&I): −$241
• Tax from tax record: −$18 /mo · $221/yr
• Insurance: −$19
• HOA: −$0
• Vacancy / Maint / Mgmt: −$303
• Net cashflow: $863

Break-even live

Break-even rent $352

Max offer price $45,900

Occupancy floor 35%

Sensitivity live

Price	-10% $889	-5% $876	+0% $863	+5% $850	+10% $837
Rent	-10% $749	-5% $806	+0% $863	+5% $920	+10% $977
Rate	-1.0pp $886	-0.5pp $875	base $863	+0.5pp $851	+1.0pp $839

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: $11,475
• Closing costs: $1,377
• Reserves months: —
• Total cash needed: —

Listing history 28 events

1. 2026-06-19
   days on market $45,900 Active 235 DOM
2. 2026-06-18
   days on market $45,900 Active 234 DOM
3. 2026-06-17
   days on market $45,900 Active 233 DOM
4. 2026-06-16
   days on market $45,900 Active 232 DOM
5. 2026-06-15
   days on market $45,900 Active 231 DOM
6. 2026-06-14
   days on market $45,900 Active 229 DOM
7. 2026-06-12
   days on market $45,900 Active 228 DOM
8. 2026-06-09
   days on market $45,900 Active 225 DOM
9. 2026-06-08
   remarks 340-char remark
10. 2026-06-08
    days on market $45,900 Active 224 DOM
11. 2026-06-07
    days on market $45,900 Active 223 DOM
12. 2026-06-02
    days on market $45,900 Active 218 DOM
13. 2026-06-01
    days on market $45,900 Active 217 DOM
14. 2026-05-31
    days on market $45,900 Active 216 DOM
15. 2026-05-30
    days on market $45,900 Active 215 DOM
16. 2026-05-01
    status Active 263-char remark

    Show marketing remark (263 chars)

    New price on this brick ranch fixer-upper home situated on .46 acre lot. Offering three bedrooms and one bath, this home has rear deck with large fenced yard and a detached two car garage. Contact listing broker for additional information regarding this property.

17. 2026-04-27
    status Pending 263-char remark

    Show marketing remark (263 chars)

    New price on this brick ranch fixer-upper home situated on .46 acre lot. Offering three bedrooms and one bath, this home has rear deck with large fenced yard and a detached two car garage. Contact listing broker for additional information regarding this property.

18. 2026-04-19
    price $45,900 263-char remark

    Show marketing remark (263 chars)

    New price on this brick ranch fixer-upper home situated on .46 acre lot. Offering three bedrooms and one bath, this home has rear deck with large fenced yard and a detached two car garage. Contact listing broker for additional information regarding this property.

19. 2026-04-06
    price $47,900 263-char remark

    Show marketing remark (263 chars)

    New price on this brick ranch fixer-upper home situated on .46 acre lot. Offering three bedrooms and one bath, this home has rear deck with large fenced yard and a detached two car garage. Contact listing broker for additional information regarding this property.

20. 2026-03-24
    price $49,900 263-char remark

    Show marketing remark (263 chars)

    New price on this brick ranch fixer-upper home situated on .46 acre lot. Offering three bedrooms and one bath, this home has rear deck with large fenced yard and a detached two car garage. Contact listing broker for additional information regarding this property.

21. 2026-03-11
    price $54,900 263-char remark

    Show marketing remark (263 chars)

    New price on this brick ranch fixer-upper home situated on .46 acre lot. Offering three bedrooms and one bath, this home has rear deck with large fenced yard and a detached two car garage. Contact listing broker for additional information regarding this property.

22. 2026-02-24
    price $59,900 263-char remark

    Show marketing remark (263 chars)

    New price on this brick ranch fixer-upper home situated on .46 acre lot. Offering three bedrooms and one bath, this home has rear deck with large fenced yard and a detached two car garage. Contact listing broker for additional information regarding this property.

23. 2026-02-11
    price $64,900 263-char remark

    Show marketing remark (263 chars)

    New price on this brick ranch fixer-upper home situated on .46 acre lot. Offering three bedrooms and one bath, this home has rear deck with large fenced yard and a detached two car garage. Contact listing broker for additional information regarding this property.

24. 2025-12-05
    price $69,000 263-char remark

    Show marketing remark (263 chars)

    New price on this brick ranch fixer-upper home situated on .46 acre lot. Offering three bedrooms and one bath, this home has rear deck with large fenced yard and a detached two car garage. Contact listing broker for additional information regarding this property.

25. 2025-11-22
    price $79,900 263-char remark

    Show marketing remark (263 chars)

    New price on this brick ranch fixer-upper home situated on .46 acre lot. Offering three bedrooms and one bath, this home has rear deck with large fenced yard and a detached two car garage. Contact listing broker for additional information regarding this property.

26. 2025-11-09
    price $89,900 263-char remark

    Show marketing remark (263 chars)

    New price on this brick ranch fixer-upper home situated on .46 acre lot. Offering three bedrooms and one bath, this home has rear deck with large fenced yard and a detached two car garage. Contact listing broker for additional information regarding this property.

27. 2025-10-23
    listed $99,900 Active 263-char remark

    Show marketing remark (263 chars)

    New price on this brick ranch fixer-upper home situated on .46 acre lot. Offering three bedrooms and one bath, this home has rear deck with large fenced yard and a detached two car garage. Contact listing broker for additional information regarding this property.

28. 2012-03-27
    soldstatus $60,000

ⓘ 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: $221 · $18/mo
• Projected year-2 tax: $305 · $25/mo
• Expected delta: +$85/yr (+$7/mo · 38.4%)

ⓘ 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 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $17,336
• − Mortgage interest: −$2,571
• − Property taxes: −$221
• − Insurance: −$230
• − Repairs & maintenance: −$1,387
• − Management: −$1,387
• − Depreciation: −$1,335
• Taxable income: $10,205
• Est. tax owed @ 24.0%: −$2,449
• After-tax cash flow: $7,907/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: Jennings County School Corporation
• NCES district ID: 1805190
• Math proficiency: 32% ▼ -11.00%
• Reading proficiency: 38% ▼ -6.00%
• Median HH income: $45,418
• Composite: 29.89/100
• National rank: #6394
• State rank: #194 of 301 in IN

Livability — North Vernon

• Score: 79/100
• State rank: #29
• US rank: #2347

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• City population: 20,981
• Population (ZIP): 20,981

Population outlook (Jennings County) Hauer SSP2

• Today (2025): 26,584 people
• By 2030: 25,591 · -3.7%
• By 2040: 23,423 · -11.9%
• By 2050: 20,973 · -21.1%
• By 2075: 15,445 · -41.9%
• By 2100: 10,714 · -59.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (92%)
• Race & ethnicity: White 92% Hispanic / Latino 4% Two or more races 3%
• Common ancestry: Slovak 2% Romanian 1% Italian 1%
• Foreign-born: 1% · Canada
• Languages at home: 96% English-only · Spanish 2% German/W. Germanic 1%

Political lean MEDSL · Jennings

• 2024 margin: Solid R (+58.8) · D 19.7% · R 78.5% · Other 1.8%
• 2008→2024 swing: -50.8pp toward R · 2008: -8.0pp · 2024: -58.8pp
• All cycles: 2024: R+58.8 2020: R+56.9 2016: R+52.7 2012: R+22.4 2008: R+8.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -107.36%
• Current HPI: 233.0275
• 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

-23.5% since first listed

13 events — show timeline

• 2026-05-01 Relisted — Metro Search MLS
• 2026-04-27 Pending — Metro Search MLS
• 2026-04-19 Price Changed $45,900 Metro Search MLS
• 2026-04-06 Price Changed $47,900 Metro Search MLS
• 2026-03-24 Price Changed $49,900 Metro Search MLS
• 2026-03-11 Price Changed $54,900 Metro Search MLS
• 2026-02-24 Price Changed $59,900 Metro Search MLS
• 2026-02-11 Price Changed $64,900 Metro Search MLS
• 2025-12-05 Price Changed $69,000 Metro Search MLS
• 2025-11-22 Price Changed $79,900 Metro Search MLS
• 2025-11-09 Price Changed $89,900 Metro Search MLS
• 2025-10-23 Listed $99,900 Metro Search MLS
• 2012-03-27 Sold (Public Records) $60,000 Public Records

Property tax history

+17.9%/yr

Latest (2024): $221 · +5.1% YoY. Source: county tax records.