405 SW 3rd St · Loogootee, IN 47553

$95,000

2 bd · 1.5 ba · 1,853 sqft · SingleFamily public records · 139 Days on market

Built 1955 Fair condition 7,405 sqft lot $51/sqft · 53% below area Est $183k · 48% under ↓ 2% 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 +22.2/30.0
• ARV discount +15.0/15.0
• DSCR +7.1/10.0
• Appreciation +6.5/10.0
• 1% rule +5.8/10.0
• Schools +4.7/10.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.2/5.0

Listing remarks MLS

Located in Loogootee, this early 1900s home offers space and potential that’s hard to find at this price point. With solid bones and some TLC, it presents a great opportunity as a fixer-upper or long-term investment. The home features a traditional layout with spacious rooms and additional upstairs space suitable for a bedroom, office, and potential bath, offering flexibility for a variety of uses. Exterior highlights include a concrete driveway, one-car garage, covered back patio, and a functional yard with room for outdoor enjoyment or projects. Metal roof and siding provide a strong starting point for improvements. Conveniently located near local amenities, making this a strong value-add opportunity for rental, flip, or personal use.

Key facts

• Metal roof
• Metal siding
• Covered back patio

Tags

• CONCRETE DRIVEWAY
• COVERED BACK PATIO
• FUNCTIONAL YARD
• METAL ROOF
• METAL SIDING
• UPSTAIRS SPACE

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath single-family listed at $95k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $154 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $95k).
• Recommended offer: $84k (12.0% below list) — sets the bar for market timing.
• Cap rate 8.2% vs local median 2.4% in Loogootee — 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 74/100 on livability (#74 in IN, #4,663 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: employment D, amenities F, commute F.
• Loogootee Community School Corporation (rural): math 42% / reading 48% proficiency, ranked #97 of 301 in IN (top 32%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Loogootee Elementary School (math 57% / reading 42%, grade D, #279 of 994 statewide, top 30%, 299 students, 44% FRL); Loogootee Middle School (math 40% / reading 48%, grade D, #87 of 330 statewide, top 27%, 210 students, 41% FRL); Loogootee High School (math 32% / reading 62%, grade D-, #143 of 369 statewide, top 44%, 241 students, 32% FRL).
• Market conditions: 73 active listings in the ZIP; 2 units permitted in Martin County in 2024 (0 in 5+ unit buildings).
• This rent is only 17% of the median local income ($75k/yr) — well below the 30% rent-burden line; pricing power to push rent on renewal without tenant pushback.

Forward outlook

• In year one you build about $4k of equity ($657 loan paydown + $3k appreciation (3.0% local appreciation)).
• Martin County population projected at -22% 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 $27k cash investment doubles in ~5 years — after that, you're playing with house money.
• By year 10, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 139 days — a 12% lower offer ($84k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1955 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $83,600 (12.0% below list)

Questions for the listing agent

1. It's been on market 139 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
3. Built in 1955 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 1.08% ✓
• Cap rate: 8.24%
• Cash-on-cash: 6.95%
• DSCR: 1.31
• GRM: 7.7

CMA / ARV

• ARV (median comp): $183,078
• List price: $95,000
• Delta: -48.11%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
309 SE 1st St	0.39mi	3/2.0 (+1)	1,728 (-7%)	2mo	$280,000	$162	62
403 N Line St	0.40mi	3/2.0 (+1)	1,962 (+6%)	6mo	$264,000	$135	60
211 Poplar St	0.48mi	3/2.0 (+1)	1,913 (+3%)	9mo	$360,000	$188	58
1125 W Broadway St	0.71mi	3/1.5 (+1)	2,005 (+8%)	1mo	$252,000	$126	48
109 Mulberry St	0.45mi	3/1.5 (+1)	1,612 (-13%)	13mo	$160,000	$99	41

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

3.02% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 14.0%
• Equity multiple: 1.80×
• Total profit: $21,357
• Equity at exit: $42,801

10-year hold

• IRR: 15.9%
• Equity multiple: 3.34×
• Total profit: $62,207
• Equity at exit: $66,028

Cash invested: $26,600 (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 →

Balanced market Market conditions within 1.0 mi — comparable homes for sale

Active competition Active MLS

• For sale now: 6 active · 9 under contract
• Months of supply: 6.0 mo (17%/mo absorbed)
• Median asking: $276,950 ($151/sqft)
• Median days on market: 46 d
• This list price: lowest-priced of the active set
• ARV vs active asking: -34.8% vs current asking $/sqft

Closed sales set the value; these active listings set current market conditions and a practical price ceiling.

ZIP-level market 47553

• Home prices YoY: 1.4%
• Active inventory: 73
• Price-to-rent: 7.7×

Monthly cashflow live

• Estimated rent: $1,026 medium
• Mortgage (P&I): −$498
• Tax est. 1.5%: −$119 /mo · $1,425/yr
• Insurance: −$40
• HOA: −$0
• Vacancy / Maint / Mgmt: −$215
• Net cashflow: $154

Break-even live

Break-even rent $831

Max offer price $95,000

Occupancy floor 80%

Sensitivity live

Price	-10% $220	-5% $187	+0% $154	+5% $121	+10% $88
Rent	-10% $73	-5% $114	+0% $154	+5% $195	+10% $235
Rate	-1.0pp $202	-0.5pp $178	base $154	+0.5pp $130	+1.0pp $104

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: $23,750
• Closing costs: $2,850
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Listing history 50 events

1. 2026-08-08
   days on market $95,000 Active 139 DOM
2. 2026-08-07
   days on market $95,000 Active 138 DOM
3. 2026-08-06
   days on market $95,000 Active 137 DOM
4. 2026-08-05
   days on market $95,000 Active 136 DOM
5. 2026-08-04
   days on market $95,000 Active 135 DOM
6. 2026-08-03
   days on market $95,000 Active 134 DOM
7. 2026-07-31
   days on market $95,000 Active 131 DOM
8. 2026-07-30
   days on market $95,000 Active 130 DOM
9. 2026-07-29
   days on market $95,000 Active 129 DOM
10. 2026-07-27
    days on market $95,000 Active 127 DOM
11. 2026-07-25
    days on market $95,000 Active 125 DOM
12. 2026-07-24
    days on market $95,000 Active 124 DOM
13. 2026-07-23
    days on market $95,000 Active 123 DOM
14. 2026-07-22
    days on market $95,000 Active 122 DOM
15. 2026-07-21
    days on market $95,000 Active 121 DOM
16. 2026-07-18
    days on market $95,000 Active 118 DOM
17. 2026-07-16
    days on market $95,000 Active 116 DOM
18. 2026-07-15
    days on market $95,000 Active 115 DOM
19. 2026-07-14
    days on market $95,000 Active 114 DOM
20. 2026-07-13
    days on market $95,000 Active 113 DOM
21. 2026-07-12
    days on market $95,000 Active 112 DOM
22. 2026-07-11
    days on market $95,000 Active 111 DOM
23. 2026-07-11
    days on market $95,000 Active 110 DOM
24. 2026-07-09
    days on market $95,000 Active 109 DOM
25. 2026-07-08
    days on market $95,000 Active 108 DOM
26. 2026-07-07
    days on market $95,000 Active 107 DOM
27. 2026-07-06
    days on market $95,000 Active 106 DOM
28. 2026-07-05
    days on market $95,000 Active 105 DOM
29. 2026-07-04
    days on market $95,000 Active 104 DOM
30. 2026-07-03
    days on market $95,000 Active 103 DOM
31. 2026-07-02
    days on market $95,000 Active 102 DOM
32. 2026-07-01
    days on market $95,000 Active 101 DOM
33. 2026-06-30
    days on market $95,000 Active 100 DOM
34. 2026-06-29
    days on market $95,000 Active 99 DOM
35. 2026-06-28
    days on market $95,000 Active 98 DOM
36. 2026-06-27
    days on market $95,000 Active 97 DOM
37. 2026-06-26
    days on market $95,000 Active 95 DOM
38. 2026-06-22
    days on market $95,000 Active 92 DOM
39. 2026-06-21
    pricedays on market $95,000 Active 91 DOM
40. 2026-06-19
    days on market $105,000 Active 89 DOM
41. 2026-06-18
    days on market $105,000 Active 88 DOM
42. 2026-06-17
    days on market $105,000 Active 87 DOM
43. 2026-06-16
    days on market $105,000 Active 86 DOM
44. 2026-06-15
    days on market $105,000 Active 85 DOM
45. 2026-06-14
    days on market $105,000 Active 83 DOM
46. 2026-06-12
    days on market $105,000 Active 82 DOM
47. 2026-06-09
    days on market $105,000 Active 79 DOM
48. 2026-06-08
    days on market $105,000 Active 78 DOM
49. 2026-06-07
    days on market $105,000 Active 77 DOM
50. 2026-06-07
    days on market $105,000 Active 76 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 5/10 Major 7 d/yr ≥105°F today · 20 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $12,314
• − Mortgage interest: −$5,321
• − Property taxes: −$1,425
• − Insurance: −$475
• − Repairs & maintenance: −$985
• − Management: −$985
• − Depreciation: −$2,764
• Taxable income: $359
• Est. tax owed @ 24.0%: −$86
• After-tax cash flow: $1,764/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.

Condition & rehab AI · 9 photos

Fair 45/100 Moderate rehab Est. rehab $46,325–$83,385 screening

This early 1900s home requires moderate renovations to bring it up to a fair condition. Key areas for improvement include the kitchen and bathroom, which are in poor condition, and the exterior siding and interior walls, which show signs of wear. A fresh coat of paint and new tiles will significantly enhance its resale value.

Components & finishes AI

Roof metal · good Flooring wood HVAC central · new lt5

Deferred maintenance Est. $3,000–$12,000 screening

• Minor Roof (roof) — No visible signs of damage or wear
• Minor Hvac (hvac) — No visible signs of damage or wear
• Minor Windows (windows) — No visible signs of damage or wear
• Minor Electrical (electrical) — No visible signs of damage or wear
• Minor Plumbing (plumbing) — No visible signs of damage or wear
• Minor Exterior (exterior) — No visible signs of damage or wear

Repairs flagged

• Major Kitchen — Broken tiles and debris indicate significant damage.
• Major Bathroom — Broken tiles and debris indicate significant damage.
• Moderate Exterior siding — Peeling paint and weathered appearance.
• Moderate Interior walls — Chipped and worn paint.
• Minor HVAC system — Functional but may need maintenance.

Value-add opportunities

• Resale Paint interior walls and replace kitchen and bathroom tiles — Fresh paint and new tiles will significantly improve the home's appearance and functionality. ↑
• Both Replace HVAC system — A new HVAC system will improve comfort and energy efficiency, benefiting both resale and rental value. ↑

ⓘ Rehab cost is a screening estimate — Moderate scope × the home's square footage at US $/sqft rules of thumb (the same model as the Flip Finder). Get contractor quotes + a written scope before underwriting.

F Composite school gradezoned avg 47/100

Zoned Schools

Elementary Loogootee Elementary School D IN #279/994 Nat'l #12,785/41,679 Middle Loogootee Middle School D IN #87/330 Nat'l #4,963/14,009 High Loogootee High School D- IN #143/369 Nat'l #6,330/17,239

Schools (NCES district)

• District: Loogootee Community School Corporation
• NCES district ID: 1806060
• Math proficiency: 42% ▼ -10.00%
• Reading proficiency: 48% ▼ -6.00%
• Median HH income: $47,513
• Composite: 38.38/100
• National rank: #4209
• State rank: #97 of 301 in IN

B Composite livability gradescore 74/100

Livability — Loogootee

• Score: 74/100
• State rank: #74
• US rank: #4663

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Loogootee, IN
• County: Martin · 9,585 people
• Population (ZIP): 8,613
• Household income: $74,533
• Rent vs Own: 21.1% rent · 78.9% own
• Severe rent burden: 6% of renters

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Population outlook (Martin County) Hauer SSP2

• Today (2025): 9,585 people
• By 2030: 9,198 · -4.0%
• By 2040: 8,365 · -12.7%
• By 2050: 7,518 · -21.6%
• By 2075: 5,674 · -40.8%
• By 2100: 3,916 · -59.1%

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Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (95%)
• Race & ethnicity: White 95% Two or more races 2% Hispanic / Latino 1%
• Common ancestry: Italian 5% Slovak 3% Lithuanian 2%
• Foreign-born: 1%
• Languages at home: 89% English-only · German/W. Germanic 10% Spanish 1%

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Political lean MEDSL · Martin

• 2024 margin: Solid R (+60.7) · D 18.7% · R 79.4% · Other 1.9%
• 2008→2024 swing: -31.8pp toward R · 2008: -28.9pp · 2024: -60.7pp
• All cycles: 2024: R+60.7 2020: R+58.7 2016: R+58.5 2012: R+40.3 2008: R+28.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 3.02%
• Current HPI: 217.7385
• Rent YoY: —
• Metro: —
• State GDP YoY: ▲ 2.90%
• F500 in state: 18

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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

-1.8% since first listed

2 events — show timeline

• 2026-04-13 Price Changed $108,000 IRMLS
• 2026-03-23 Listed $110,000 IRMLS

Property tax history

-2.1%/yr

Latest (2024): $37 · +2.0% YoY. Source: county tax records.