302 E Apple St · Argos, IN 46501

$30,000

2 bd · 1.0 ba · 1,592 sqft · SingleFamily public records · 5 Days on market

Built 1915 7,405 sqft lot $19/sqft · 81% below area ↓ 17% 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 +3.7/5.0
• Schools +3.5/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

In town lot, older home , 1592 sq ft. Needs WORK ! SOLD AS IS WHERE IS

Key facts

• 7,405 sq ft lot
• Built 1915
• Listed 5 days

Property features AI

Finance

• Financial info: Annual tax listed

Exterior

• Utilities: Public water; Public sewer
• Home design: Single-family residence (site-built); One story
• Construction: Vinyl siding; Built as site-built construction
• Exterior features: Level lot; Shed on the property; Lot dimensions approximately 61 x 120

Interior

• Bathrooms: One full bathroom (main level)
• Heating & cooling: Forced air heating; No central air conditioning
• Interior features: Partially finished basement; Six total rooms
• Laundry & utility: Laundry on the main level

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $30k.

Deal economics

• At list price, monthly cash flow is $583 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $30k).

Location & tenants

• Location reads 73/100 on livability (#83 in IN, #4,996 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: employment D, amenities F, commute F.
• Argos Community Schools (rural): math 35% / reading 46% proficiency, ranked #136 of 301 in IN (top 45%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Argos Community Elementary (math 42% / reading 42%, grade F, #434 of 994 statewide, top 48%, 358 students, 60% FRL); Argos Comm Jr-Sr High School (math 30% / reading 48%, grade F, #235 of 369 statewide, top 65%, 331 students, 50% FRL) — zoned schools average 55% FRL vs 36% district-wide (19 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 18 active listings in the ZIP; 147 units permitted in Marshall County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $207 of loan paydown is wiped out by about $900 of value loss. Plan a longer hold.
• Marshall County population projected to shrink 9% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $8k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• Only 5 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $25k; 20% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: property tax is 4.2% of price; built in 1915 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $30,000

Questions for the listing agent

1. Built in 1915 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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.
5. 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.
6. 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: 3.62% ✓
• Cap rate: 29.62%
• Cash-on-cash: 83.33%
• DSCR: 4.71
• GRM: 2.3

CMA / ARV

• ARV (median comp): $156,600
• List price: $30,000
• Delta: -80.84%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
302 E Apple St	0.00mi	2/1.0	1,592 (0%)	0mo	$25,000	$16	100
321 E Cherry St	0.10mi	2/1.0	1,404 (-12%)	8mo	$100,000	$71	70
413 E South St	0.36mi	2/1.0	1,656 (+4%)	12mo	$129,900	$78	66
202 N Maple St	0.14mi	3/1.0 (+1)	1,401 (-12%)	6mo	$156,000	$111	64
325 W Indiana Ave	0.45mi	3/1.5 (+1)	1,680 (+6%)	7mo	$170,000	$101	57
514 N Michigan St	0.33mi	2/1.0	1,434 (-10%)	14mo	$160,000	$112	56
314 S West St	0.51mi	3/1.0 (+1)	1,548 (-3%)	13mo	$43,000	$28	56
324 E Walnut St	0.19mi	3/1.0 (+1)	1,368 (-14%)	10mo	$179,900	$132	54
413 E Walnut St	0.25mi	3/2.0 (+1)	1,786 (+12%)	12mo	$200,000	$112	49
212 W Broadway St	0.44mi	3/1.0 (+1)	1,704 (+7%)	20mo	$113,197	$66	46
312 Center St	0.38mi	3/2.0 (+1)	1,436 (-10%)	13mo	$160,000	$111	46
221 N First St	0.25mi	3/2.0 (+1)	1,824 (+15%)	20mo	$200,000	$110	39

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: 83.7%
• Equity multiple: 4.85×
• Total profit: $32,346
• Equity at exit: $4,473

10-year hold

• IRR: 87.0%
• Equity multiple: 10.08×
• Total profit: $76,236
• Equity at exit: $2,594

Cash invested: $8,400 (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 46501

• Home prices YoY: -10.3%
• Active inventory: 18
• Price-to-rent: 2.3×

Monthly cashflow live

• Estimated rent: $1,085 medium
• Mortgage (P&I): −$157
• Tax from tax record: −$104 /mo · $1,245/yr
• Insurance: −$12
• HOA: −$0
• Vacancy / Maint / Mgmt: −$228
• Net cashflow: $583

Break-even live

Break-even rent $346

Max offer price $30,000

Occupancy floor 41%

Sensitivity live

Price	-10% $600	-5% $592	+0% $583	+5% $575	+10% $566
Rent	-10% $498	-5% $540	+0% $583	+5% $626	+10% $669
Rate	-1.0pp $598	-0.5pp $591	base $583	+0.5pp $576	+1.0pp $568

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: $7,500
• Closing costs: $900
• Reserves months: —
• Total cash needed: —

Listing history 2 events

1. 2026-05-11
   status Pending 70-char remark
2. 2026-05-03
   listed $30,000 Active 70-char remark

ⓘ 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: $1,245 · $104/mo
• Projected year-2 tax: $1,245 · $104/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 1/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥100°F today · 16 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 3/10 Moderate 1 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $13,016
• − Mortgage interest: −$1,680
• − Property taxes: −$1,245
• − Insurance: −$150
• − Repairs & maintenance: −$1,041
• − Management: −$1,041
• − Depreciation: −$873
• Taxable income: $6,985
• Est. tax owed @ 24.0%: −$1,676
• After-tax cash flow: $5,323/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: Argos Community Schools
• NCES district ID: 1800180
• Math proficiency: 35% ▼ -19.00%
• Reading proficiency: 46% ▼ -15.00%
• Median HH income: $48,890
• Composite: 34.76/100
• National rank: #5126
• State rank: #136 of 301 in IN

Livability — Argos

• Score: 73/100
• State rank: #83
• US rank: #4996

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Argos, IN
• Population (ZIP): 3,915

Population outlook (Marshall County) Hauer SSP2

• Today (2025): 46,402 people
• By 2030: 45,775 · -1.4%
• By 2040: 44,220 · -4.7%
• By 2050: 42,329 · -8.8%
• By 2075: 38,235 · -17.6%
• By 2100: 33,285 · -28.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (96%)
• Race & ethnicity: White 96% Two or more races 2% Hispanic / Latino 1%
• Common ancestry: Italian 3% Romanian 2% Lithuanian 2%
• Foreign-born: 0%
• Languages at home: 96% English-only · German/W. Germanic 4%

Political lean MEDSL · Marshall

• 2024 margin: Solid R (+43.4) · D 27.4% · R 70.8% · Other 1.8%
• 2008→2024 swing: -29.8pp toward R · 2008: -13.6pp · 2024: -43.4pp
• All cycles: 2024: R+43.4 2020: R+40.8 2016: R+41.6 2012: R+28.9 2008: R+13.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -32.97%
• Current HPI: 286.4724
• 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

-16.7% since first listed

3 events — show timeline

• 2026-06-12 Sold (MLS) $25,000 IRMLS
• 2026-05-11 Pending — IRMLS
• 2026-05-03 Listed $30,000 IRMLS

Property tax history

-0.3%/yr

Latest (2025): $1,245 · -2.2% YoY. Source: county tax records.