1286 Fredonia Rd · Spurgeon, IN 47584

$65,000

2 bd · 1.0 ba · 2,017 sqft · SingleFamily public records · 3 Days on market

Built 1920 1.00 ac lot

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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
• Appreciation +5.0/10.0
• Livability +3.2/5.0
• Schools +2.9/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

Located at 1286 E Fredonia Road in Spurgeon, Indiana, this 1 +/- acre property presents an opportunity for investors, contractors, renovators, or buyers seeking a future homesite or their next project. The property includes a 2-bedroom, 2-bath home believed to have been built in 1920, along with a detached garage, garden shed, and covered parking shelter. The large backyard provides ample space for outdoor activities while enjoying the property's peaceful surroundings. The home features a metal roof and a basement, and offers the potential for renovation by a buyer willing to make improvements. Alternatively, the property may appeal to those seeking a building site where the existing home c

Key facts

• Metal roof
• Large backyard
• Basement

Tags

• DETACHED GARAGE
• GARDEN SHED
• COVERED PARKING SHELTER
• LARGE BACKYARD
• METAL ROOF
• BASEMENT

Property features AI

Finance

• Other: Listing broker: Whitetail Properties Real Estate; Listing agent contact available
• Financial info: Tax amount listed (not included per instructions)
• HOA & community: No subdivision

Exterior

• Parking: Detached 2-car garage
• Security: Security information not provided
• Utilities: Public water; Sewer: Unknown
• Home design: Single family residence (site-built)
• Construction: Vinyl siding; Above-grade finished area approximately 2,017; Basement is partial
• Exterior features: Irregular lot; Approximately 1 acre lot

Interior

• Kitchen: Kitchen information not provided
• Bedrooms: Bedrooms information not provided
• Flooring: Flooring information not provided
• Bathrooms: 2 full bathrooms; 2 main-level bathrooms
• Heating & cooling: Has cooling (type listed as Other)
• Interior features: Partial basement
• Laundry & utility: Laundry on main level

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $65k.

Deal economics

• At list price, monthly cash flow is $392 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $65k).

Location & tenants

• Location reads 64/100 on livability (#367 in IN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: employment C-, health & safety C-, amenities F.
• Pike County School Corporation (rural): math 29% / reading 39% proficiency, ranked #203 of 301 in IN (top 67%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Petersburg Elementary School (math 32% / reading 32%, grade F, #652 of 994 statewide, top 68%, 458 students, 57% FRL); Pike Central Middle School (math 20% / reading 33%, grade F, #236 of 330 statewide, top 72%, 366 students, 49% FRL); Pike Central High School (math 32% / reading 57%, grade F, #169 of 369 statewide, top 51%, 475 students, 44% FRL) — zoned schools average 50% FRL vs 33% district-wide (18 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 4 active listings in the ZIP; 7 units permitted in Pike County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $2k of equity ($449 loan paydown + $2k appreciation (3.0% local appreciation)).
• Pike County population projected at -20% 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 $18k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $65,000

Questions for the listing agent

1. Built in 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
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: 1.65% ✓
• Cap rate: 13.53%
• Cash-on-cash: 25.85%
• DSCR: 2.15
• GRM: 5.1

CMA / ARV

• ARV (on-the-fly): $252,125
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1317 E Fredonia Rd	0.10mi	3/1.0 (+1)	2,142 (+6%)	2mo	$267,400	$125	78

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: 31.9%
• Equity multiple: 2.80×
• Total profit: $32,823
• Equity at exit: $29,227

10-year hold

• IRR: 32.2%
• Equity multiple: 5.50×
• Total profit: $81,883
• Equity at exit: $45,042

Cash invested: $18,200 (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 47584

• Active inventory: 4
• Price-to-rent: 5.1×

Monthly cashflow live

• Estimated rent: $1,071 medium
• Mortgage (P&I): −$341
• Tax from tax record: −$86 /mo · $1,034/yr
• Insurance: −$27
• HOA: −$0
• Vacancy / Maint / Mgmt: −$225
• Net cashflow: $392

Break-even live

Break-even rent $575

Max offer price $65,000

Occupancy floor 58%

Sensitivity live

Price	-10% $429	-5% $411	+0% $392	+5% $374	+10% $355
Rent	-10% $307	-5% $350	+0% $392	+5% $434	+10% $477
Rate	-1.0pp $425	-0.5pp $409	base $392	+0.5pp $375	+1.0pp $358

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: $16,250
• Closing costs: $1,950
• Reserves months: —
• Total cash needed: —

Listing history 4 events

1. 2026-06-21
   statusdays on market $65,000 Pending 3 DOM
2. 2026-06-19
   days on market $65,000 Active 2 DOM
3. 2026-06-17
   remarks 699-char remark
4. 2026-06-17
   listed $65,000 Active 1 DOM

ⓘ 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: $1,034 · $86/mo
• Projected year-2 tax: $1,034 · $86/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 5/10 Major 7 d/yr ≥105°F today · 19 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 3% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 3 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $12,854
• − Mortgage interest: −$3,641
• − Property taxes: −$1,034
• − Insurance: −$325
• − Repairs & maintenance: −$1,028
• − Management: −$1,028
• − Depreciation: −$1,891
• Taxable income: $3,906
• Est. tax owed @ 24.0%: −$938
• After-tax cash flow: $3,768/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: Pike County School Corporation
• NCES district ID: 1808900
• Math proficiency: 29% ▼ -6.00%
• Reading proficiency: 39% ▼ -2.00%
• Median HH income: $43,646
• Composite: 28.88/100
• National rank: #6642
• State rank: #203 of 301 in IN

Livability — Spurgeon

• Score: 64/100
• State rank: #367
• US rank: #13798

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Spurgeon, IN
• City population: 137
• Population (ZIP): 137

Population outlook (Pike County) Hauer SSP2

• Today (2025): 11,816 people
• By 2030: 11,348 · -4.0%
• By 2040: 10,351 · -12.4%
• By 2050: 9,410 · -20.4%
• By 2075: 7,638 · -35.4%
• By 2100: 6,118 · -48.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (100%)
• Race & ethnicity: White 100%
• Common ancestry: Serbian 8% Iranian 5% Slovak 3%
• Foreign-born: 1%
• Languages at home: 99% English-only · Spanish 1%

Political lean MEDSL · Pike

• 2024 margin: Solid R (+54.9) · D 21.9% · R 76.7% · Other 1.4%
• 2008→2024 swing: -46.2pp toward R · 2008: -8.6pp · 2024: -54.9pp
• All cycles: 2024: R+54.9 2020: R+52.7 2016: R+51.9 2012: R+25.4 2008: R+8.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: —
• Current HPI: —
• 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

1 event — show timeline

• 2026-06-17 Listed $65,000 IRMLS

Property tax history

+4.4%/yr

Latest (2024): $1,034 · +0.8% YoY. Source: county tax records.