8345 Co Rd 300 N

Glenwood, IN 46127

$60,000A-

3 bd · 1.0 ba · 1,471 sqft · Built 1946 · SingleFamily · Pending

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,103/mo
• Mortgage (P&I): −$315
• Tax + insurance: −$48
• HOA: −$0
• Vac / Maint / Mgmt: −$232
• Net cashflow: $509/mo
• Annual: $6,106/yr
• Cap rate: 16.47%
• Cash-on-cash: 36.34%
• DSCR: 2.62
• 1% rule: 1.84%
• Cash to close: $16,800

Investor read

• This is a 3-bed/1.0-bath single-family listed at $60k.
• At list price, monthly cash flow is $509 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $60k).
• Only 0 days on market — expect competitive offers; lowballing is unlikely to land.
• In year one you build about $3k of equity ($415 loan paydown + $3k appreciation (4.9% local appreciation)).
• Location reads 63/100 on livability (#410 in IN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: crime C-, health & safety C-, amenities F.
• Fayette County School Corporation (town): math 29% / reading 40% proficiency, ranked #206 of 301 in IN (top 68%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Fayette Central Elementary (math 47% / reading 42%, grade F, #379 of 994 statewide, top 41%, 337 students, 60% FRL); Connersville Middle School (math 21% / reading 38%, grade F, #212 of 330 statewide, top 67%, 505 students, 61% FRL); Connersville Sr High School (math 26% / reading 62%, grade F, #189 of 369 statewide, top 51%, 966 students, 55% FRL) — zoned schools at 59% FRL track the district average.
• Watch-outs: built in 1946 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 2 active listings in the ZIP; 20 units permitted in Fayette County in 2024 (0 in 5+ unit buildings).
• Fayette County population projected at -26% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (4.9% appreciation + 3.0% rent growth), your $17k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 10, paydown + projected appreciation supports a ~$33k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Questions for listing agent

• Built in 1946 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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.
• 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.
• 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.