116 W Walnut St · North Vernon, IN 47265

$85,000

5 bd · 1.5 ba · 1,990 sqft · SingleFamily public records · 102 Days on market

Built 1898 7,501 sqft lot $43/sqft · 56% below area

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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

Built in 1898, this historic two-story home offers timeless curb appeal with its classic bay window, covered front porch, and charming architectural details. With over a century of history behind it, this property is ready for a full renovation and restoration. Ideal for investors or buyers with vision looking to bring new life to a home filled with character and potential. Prime opportunity to transform a historic property into something truly special. Sold as-is.

Key facts

• Covered front porch
• Restoration
• Classic bay window

Tags

• HISTORIC TWO-STORY HOME
• CLASSIC BAY WINDOW
• COVERED FRONT PORCH
• CHARMING ARCHITECTURAL DETAILS
• FULL RENOVATION
• RESTORATION

What this means for you Summary

Snapshot

• This is a 5-bed/1.5-bath single-family listed at $85k.

Deal economics

• At list price, monthly cash flow is $761 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $85k).
• Recommended offer: $77k (9.0% below list) — sets the bar for market timing.
• Cap rate 17.0% 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 $588 of loan paydown is wiped out by about $3k 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 $24k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 102 days — a 9% lower offer ($77k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 7y 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 $45k; list at $85k implies a 89% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1898 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $77,350 (9.0% below list)

Questions for the listing agent

1. It's been on market 102 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1898 — 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: 1.95% ✓
• Cap rate: 17.04%
• Cash-on-cash: 38.37%
• DSCR: 2.71
• GRM: 4.3

CMA / ARV

• ARV (median comp): $195,015
• List price: $85,000
• Delta: -56.41%
• Verdict: UNDERPRICED
• Comps: 17 within 1.0 mi

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
43 W Main St	0.08mi	4/2.0 (-1)	2,014 (+1%)	0mo	$200,000	$99	87
231 High St	0.21mi	5/2.0	2,102 (+6%)	1mo	$299,000	$142	78
30 Oakwood Ave	0.09mi	4/2.0 (-1)	1,869 (-6%)	12mo	$210,000	$112	69
616 N Elm St	0.52mi	4/2.5 (-1)	1,800 (-10%)	17mo	$185,000	$103	37
217 Sunnyside Dr	0.46mi	4/2.0 (-1)	1,723 (-13%)	19mo	$191,000	$111	34

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: 34.5%
• Equity multiple: 2.46×
• Total profit: $34,696
• Equity at exit: $12,674

10-year hold

• IRR: 41.3%
• Equity multiple: 4.89×
• Total profit: $92,627
• Equity at exit: $7,349

Cash invested: $23,800 (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: 4.3×

Monthly cashflow live

• Estimated rent: $1,657 medium
• Mortgage (P&I): −$446
• Tax from tax record: −$67 /mo · $798/yr
• Insurance: −$35
• HOA: −$0
• Vacancy / Maint / Mgmt: −$348
• Net cashflow: $761

Break-even live

Break-even rent $693

Max offer price $85,000

Occupancy floor 49%

Sensitivity live

Price	-10% $809	-5% $785	+0% $761	+5% $737	+10% $713
Rent	-10% $630	-5% $696	+0% $761	+5% $826	+10% $892
Rate	-1.0pp $804	-0.5pp $783	base $761	+0.5pp $739	+1.0pp $717

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: $21,250
• Closing costs: $2,550
• Reserves months: —
• Total cash needed: —

Listing history 22 events

1. 2026-06-19
   days on market $85,000 Active 102 DOM
2. 2026-06-18
   days on market $85,000 Active 101 DOM
3. 2026-06-17
   days on market $85,000 Active 100 DOM
4. 2026-06-16
   days on market $85,000 Active 99 DOM
5. 2026-06-15
   days on market $85,000 Active 98 DOM
6. 2026-06-14
   days on market $85,000 Active 96 DOM
7. 2026-06-12
   days on market $85,000 Active 95 DOM
8. 2026-06-09
   days on market $85,000 Active 92 DOM
9. 2026-06-08
   days on market $85,000 Active 91 DOM
10. 2026-06-07
    remarks 560-char remark
11. 2026-06-07
    days on market $85,000 Active 90 DOM
12. 2026-06-02
    days on market $85,000 Active 85 DOM
13. 2026-06-01
    days on market $85,000 Active 84 DOM
14. 2026-05-31
    days on market $85,000 Active 83 DOM
15. 2026-05-30
    days on market $85,000 Active 82 DOM
16. 2026-03-09
    listed $85,000 Active 469-char remark

    Show marketing remark (469 chars)

    Built in 1898, this historic two-story home offers timeless curb appeal with its classic bay window, covered front porch, and charming architectural details. With over a century of history behind it, this property is ready for a full renovation and restoration. Ideal for investors or buyers with vision looking to bring new life to a home filled with character and potential. Prime opportunity to transform a historic property into something truly special. Sold as-is.

17. 2020-12-02
    soldstatus $45,000 Closed 419-char remark

    Show marketing remark (419 chars)

    Looking for a project? This two story fixer upper has a lot of potential. Currently set up as two apartments, the home has a total of 1,990 sq. ft. of living area with two bedrooms, kitchen, living room, and utility room on the main level and one bedroom, study, living room, and kitchen on the upper level. There is also a one room cellar, gas heat, vinyl siding and a covered front porch. Selling “As Is”.

18. 2020-11-24
    status Pending 419-char remark

    Show marketing remark (419 chars)

    Looking for a project? This two story fixer upper has a lot of potential. Currently set up as two apartments, the home has a total of 1,990 sq. ft. of living area with two bedrooms, kitchen, living room, and utility room on the main level and one bedroom, study, living room, and kitchen on the upper level. There is also a one room cellar, gas heat, vinyl siding and a covered front porch. Selling “As Is”.

19. 2020-11-02
    status Pending 419-char remark

    Show marketing remark (419 chars)

    Looking for a project? This two story fixer upper has a lot of potential. Currently set up as two apartments, the home has a total of 1,990 sq. ft. of living area with two bedrooms, kitchen, living room, and utility room on the main level and one bedroom, study, living room, and kitchen on the upper level. There is also a one room cellar, gas heat, vinyl siding and a covered front porch. Selling “As Is”.

20. 2019-12-31
    status Active 419-char remark

    Show marketing remark (419 chars)

    Looking for a project? This two story fixer upper has a lot of potential. Currently set up as two apartments, the home has a total of 1,990 sq. ft. of living area with two bedrooms, kitchen, living room, and utility room on the main level and one bedroom, study, living room, and kitchen on the upper level. There is also a one room cellar, gas heat, vinyl siding and a covered front porch. Selling “As Is”.

21. 2019-12-29
    historical 419-char remark

    Show marketing remark (419 chars)

    Looking for a project? This two story fixer upper has a lot of potential. Currently set up as two apartments, the home has a total of 1,990 sq. ft. of living area with two bedrooms, kitchen, living room, and utility room on the main level and one bedroom, study, living room, and kitchen on the upper level. There is also a one room cellar, gas heat, vinyl siding and a covered front porch. Selling “As Is”.

22. 2019-08-23
    listed $45,000 Active 419-char remark

    Show marketing remark (419 chars)

    Looking for a project? This two story fixer upper has a lot of potential. Currently set up as two apartments, the home has a total of 1,990 sq. ft. of living area with two bedrooms, kitchen, living room, and utility room on the main level and one bedroom, study, living room, and kitchen on the upper level. There is also a one room cellar, gas heat, vinyl siding and a covered front porch. Selling “As Is”.

ⓘ 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: $798 · $67/mo
• Projected year-2 tax: $798 · $67/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 3/10 Moderate
• 🌡 Heat 4/10 Moderate 7 d/yr ≥105°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: $19,879
• − Mortgage interest: −$4,761
• − Property taxes: −$798
• − Insurance: −$425
• − Repairs & maintenance: −$1,590
• − Management: −$1,590
• − Depreciation: −$2,473
• Taxable income: $8,241
• Est. tax owed @ 24.0%: −$1,978
• After-tax cash flow: $7,154/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

• Census place: North Vernon, IN
• 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

+88.9% since first listed

7 events — show timeline

• 2026-03-09 Listed $85,000 SIRA
• 2020-12-02 Sold (MLS) $45,000 MIBOR as Distributed by MLS Grid
• 2020-11-24 Pending — MIBOR as Distributed by MLS Grid
• 2020-11-02 Pending — MIBOR as Distributed by MLS Grid
• 2019-12-31 Relisted — MIBOR as Distributed by MLS Grid
• 2019-12-29 Listing Removed — MIBOR as Distributed by MLS Grid
• 2019-08-23 Listed $45,000 MIBOR as Distributed by MLS Grid

Property tax history

-9.3%/yr

Latest (2024): $798 · +6.9% YoY. Source: county tax records.