1018 N Forest View Dr S · Ellettsville, IN 47429

$198,900

3 bd · 1.5 ba · 1,296 sqft · Condo public records · 16 Days on market

Built 2000 $42/mo HOA · 2% of rent

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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 +15.8/30.0
• ARV discount +7.5/15.0
• DSCR +4.9/10.0
• Schools +4.0/10.0
• 1% rule +3.8/10.0
• Livability +3.5/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Updated and well maintained townhome with super low HOA dues (only $40 per month!). Laminate flooring and neutral paint throughout makes this a home you can move right into. This is a really affordable option for a home in a quiet area, space to play and ride bikes and not much maintenance to worry about. HOA dues cover common areas, neighborhood lighting, trash and lawn maintenance. Stainless steel appliances are about 3 years old. Furnace, AC and water heater have all been replaced within the past 6 years. This all electric home averages $125/month electric bill.

Key facts

• Private wood deck
• Many updates
• Attached garage

Tags

• PRIVATE WOOD DECK
• EFFICIENT KITCHEN
• PRACTICAL LAUNDRY ROOM
• ATTACHED GARAGE
• MANY UPDATES

Property features AI

Finance

• Other: Mandatory fee ownership interest; Lot approximately 0.12 acres
• HOA & community: HOA with semi-annual fee (covers lawn care, grounds maintenance, management, snow removal, trash); Covenants & restrictions; Community features include curbs, sidewalks, and street lights; Low-maintenance lifestyle

Exterior

• Parking: Attached garage (finished) with garage door opener and keyless entry; 1 garage space
• Security: Smoke alarm(s); Smoke detector(s)
• Utilities: Public water; Municipal sewer connected; 200+ amp electric service with circuit breakers; Cable available; Electricity connected; Sewer connected; Water connected
• Home design: Residential condominium; Attached, end unit (horizontal condo); Free standing, ground level unit; Updated/remodeled; North-facing; Two levels
• Construction: Brick and vinyl siding exterior; Block foundation
• Exterior features: Covered patio/porch; Deck; Fire pit; Balcony; Corner lot; Sidewalks; Street lights; Mature trees; Wooded lot; No fence

Interior

• Kitchen: Dishwasher; Electric oven; Range hood; Refrigerator; Disposal
• Bedrooms: Three bedrooms on the upper level; Primary bedroom with walk-in closet
• Bathrooms: One full bath (upper) with tub and shower; One half bath (main)
• Heating & cooling: Electric forced-air heating with heat pump; Central air with heat pump
• Interior features: Attic access; Pantry; Smart thermostat; Walk-in closet(s); Painted woodwork; Stained woodwork; Laundry in unit
• Laundry & utility: Upper-level laundry room with washer and dryer connections; Washer included; Dryer included; Electric water heater

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath condo listed at $199k.

Deal economics

• At list price, monthly cash flow is $24 ($284/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $176k (11.6% below list).
• Recommended offer: $176k (11.6% below list) — sets the bar for 1% rule.
• Cap rate 6.8% vs local median 3.3% in Ellettsville — 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 70/100 on livability (#153 in IN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A-; Watch: amenities F, commute F, health & safety F.
• Richland-Bean Blossom Community School Corporation (suburban): math 41% / reading 52% proficiency, ranked #82 of 301 in IN (top 27%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Edgewood Primary School (650 students, 38% FRL); Edgewood Junior High School (math 30% / reading 51%, grade F, #117 of 330 statewide, top 36%, 603 students, 40% FRL); Edgewood High School (math 42% / reading 77%, grade C+, #49 of 369 statewide, top 16%, 820 students, 33% FRL).
• Market conditions: 64 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 872 units permitted in Monroe County in 2024 (663 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• Monroe County population projected at +29% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 16 days — a 2% lower offer ($196k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 4y 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 $169k; 18% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $175,776 (11.6% below list)

Questions for the listing agent

1. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 0.88% ✗
• Cap rate: 6.84%
• Cash-on-cash: 1.94%
• DSCR: 1.09
• GRM: 9.4

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: -15.5%
• Equity multiple: 0.45×
• Total profit: $-30,704
• Equity at exit: $29,657

10-year hold

• IRR: -7.0%
• Equity multiple: 0.56×
• Total profit: $-24,713
• Equity at exit: $17,197

Cash invested: $55,692 (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 47429

• Home prices YoY: -26.8%
• Active inventory: 64
• Price-to-rent: 9.4×

Monthly cashflow live

• Estimated rent: $1,758 medium
• Mortgage (P&I): −$1,043
• Tax from tax record: −$131 /mo · $1,567/yr
• Insurance: −$83
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$42
• Vacancy / Maint / Mgmt: −$369
• Net cashflow: $24

Break-even live

Break-even rent $1,728

Max offer price $198,900

Occupancy floor 94%

Sensitivity live

Price	-10% $136	-5% $80	+0% $24	+5% $-33	+10% $-89
Rent	-10% $-115	-5% $-46	+0% $24	+5% $93	+10% $163
Rate	-1.0pp $124	-0.5pp $74	base $24	+0.5pp $-28	+1.0pp $-80

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: $49,725
• Closing costs: $5,967
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
315 W Depot St Ellettsville, IN	2.0	1.0	1200	$1,450	$1.21	23d	1	0.71mi
4252 N Tupelo Dr Bloomington, IN	1.0–3.0	1.0–3.0	1156	$2,350	$2.03	23d	9	1.31mi

HOA detail condo

• Monthly dues: $42 · $504/yr
• Likely covers: watertrashelectric
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 8 events

1. 2026-05-20
   status Pending
2. 2026-05-04
   listed $198,900 Active
3. 2025-11-03
   price $199,900
4. 2025-10-01
   listed $210,000 Active
5. 2022-07-22
   soldstatus $169,000 Closed 571-char remark

   Show marketing remark (571 chars)

   Updated and well maintained townhome with super low HOA dues (only $40 per month!). Laminate flooring and neutral paint throughout makes this a home you can move right into. This is a really affordable option for a home in a quiet area, space to play and ride bikes and not much maintenance to worry about. HOA dues cover common areas, neighborhood lighting, trash and lawn maintenance. Stainless steel appliances are about 3 years old. Furnace, AC and water heater have all been replaced within the past 6 years. This all electric home averages $125/month electric bill.

6. 2022-06-23
   historical Active Under Contract 571-char remark

   Show marketing remark (571 chars)

   Updated and well maintained townhome with super low HOA dues (only $40 per month!). Laminate flooring and neutral paint throughout makes this a home you can move right into. This is a really affordable option for a home in a quiet area, space to play and ride bikes and not much maintenance to worry about. HOA dues cover common areas, neighborhood lighting, trash and lawn maintenance. Stainless steel appliances are about 3 years old. Furnace, AC and water heater have all been replaced within the past 6 years. This all electric home averages $125/month electric bill.

7. 2022-06-22
   price $164,499 571-char remark

   Show marketing remark (571 chars)

   Updated and well maintained townhome with super low HOA dues (only $40 per month!). Laminate flooring and neutral paint throughout makes this a home you can move right into. This is a really affordable option for a home in a quiet area, space to play and ride bikes and not much maintenance to worry about. HOA dues cover common areas, neighborhood lighting, trash and lawn maintenance. Stainless steel appliances are about 3 years old. Furnace, AC and water heater have all been replaced within the past 6 years. This all electric home averages $125/month electric bill.

8. 2022-06-21
   listed $169,900 Active 571-char remark

   Show marketing remark (571 chars)

   Updated and well maintained townhome with super low HOA dues (only $40 per month!). Laminate flooring and neutral paint throughout makes this a home you can move right into. This is a really affordable option for a home in a quiet area, space to play and ride bikes and not much maintenance to worry about. HOA dues cover common areas, neighborhood lighting, trash and lawn maintenance. Stainless steel appliances are about 3 years old. Furnace, AC and water heater have all been replaced within the past 6 years. This all electric home averages $125/month electric bill.

ⓘ 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: $1,567 · $131/mo
• Projected year-2 tax: $1,629 · $136/mo
• Expected delta: +$62/yr (+$5/mo · 3.9%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 7/10 Severe FEMA zone X (unshaded) · 76% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 3/10 Moderate 7 d/yr ≥105°F today · 18 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% chance of damaging wind over 30 yrs
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $21,093
• − Mortgage interest: −$11,141
• − Property taxes: −$1,567
• − Insurance: −$1,792
• − Repairs & maintenance: −$1,687
• − Management: −$1,687
• − HOA: −$504
• − Depreciation: −$5,786
• Taxable loss: −$3,073
• Est. tax savings @ 24.0%: +$737
• After-tax cash flow: $1,021/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: Richland-Bean Blossom Community School Corporation
• NCES district ID: 1809480
• Math proficiency: 41% ▼ -15.00%
• Reading proficiency: 52% ▼ -8.00%
• Median HH income: $53,816
• Composite: 40.21/100
• National rank: #3780
• State rank: #82 of 301 in IN

Livability — Ellettsville

• Score: 70/100
• State rank: #153
• US rank: #7613

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Ellettsville, IN
• Population (ZIP): 7,402

Population outlook (Monroe County) Hauer SSP2

• Today (2025): 160,645 people
• By 2030: 170,174 · +5.9%
• By 2040: 188,326 · +17.2%
• By 2050: 206,892 · +28.8%
• By 2075: 256,650 · +59.8%
• By 2100: 303,242 · +88.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (93%)
• Race & ethnicity: White 93% Two or more races 6% Hispanic / Latino 2%
• Common ancestry: Italian 2% Slovak 2% Lithuanian 2%
• Foreign-born: 1% · Canada
• Languages at home: 98% English-only · Spanish 1%

Political lean MEDSL · Monroe

• 2024 margin: Strong D (+27.4) · D 63.0% · R 35.5% · Other 1.5%
• 2008→2024 swing: -4.7pp toward R · 2008: 32.2pp · 2024: 27.4pp
• All cycles: 2024: D+27.4 2020: D+28.2 2016: D+23.7 2012: D+16.5 2008: D+32.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -97.14%
• Current HPI: 265.2863
• 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

+17.1% since first listed

8 events — show timeline

• 2026-05-20 Pending — MIBOR as Distributed by MLS Grid
• 2026-05-04 Listed $198,900 MIBOR as Distributed by MLS Grid
• 2025-11-03 Price Changed $199,900 IRMLS
• 2025-10-01 Listed $210,000 IRMLS
• 2022-07-22 Sold (MLS) $169,000 IRMLS
• 2022-06-23 Contingent — IRMLS
• 2022-06-22 Price Changed $164,499 IRMLS
• 2022-06-21 Listed $169,900 IRMLS

Property tax history

+8.5%/yr

Latest (2024): $1,567 · +4.0% YoY. Source: county tax records.