333 W Sylvandell St · Sullivan, IN 47882

$99,000

3 bd · 3.0 ba · 1,494 sqft · SingleFamily public records · 163 Days on market

Built 1890 0.28 ac lot $66/sqft · 32% below area Est $145k · 32% under ↓ 38% since listing

---

Why this score? — see what drove the C 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 +19.1/30.0
• ARV discount +15.0/15.0
• DSCR +6.0/10.0
• 1% rule +5.1/10.0
• Schools +3.5/10.0
• 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

Versatile property offering excellent potential as a single-family residence or income-producing investment. This 3-bedroom, 3-bath home features 1,494 square feet of living space and is currently occupied as a single-family home, though it was previously configured as a duplex and can easily be converted back. The property is equipped with two water heaters and separately metered electric for the front and rear portions of the home—ideal for a duplex or rental setup. Situated on a . 28-acre lot, the home also includes a utility shed and a spacious living room area. A great opportunity for investors or buyers seeking flexibility and future income potential.

Key facts

• Utility shed
• Spacious living room
• 0.28 acre lot

Tags

• SINGLE-FAMILY RESIDENCE
• INCOME-PRODUCING INVESTMENT
• UTILITY SHED
• SPACIOUS LIVING ROOM
• SEPARATELY METERED ELECTRIC

What this means for you Summary

Snapshot

• This is a 3-bed/3.0-bath single-family listed at $99k.

Deal economics

• At list price, monthly cash flow is $105 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($995 rent vs $99k).
• Recommended offer: $87k (12.0% below list) — sets the bar for market timing.
• Cap rate 7.6% vs local median 4.5% in Sullivan — 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 (#167 in IN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: schools D+, amenities F, commute F.
• Southwest School Corporation (rural): math 40% / reading 42% proficiency, ranked #137 of 301 in IN (top 46%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 79 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 4 units permitted in Sullivan County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $684 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Sullivan County population projected at -12% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 163 days — a 12% lower offer ($87k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1890 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $87,120 (12.0% below list)

Questions for the listing agent

1. It's been on market 163 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1890 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
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: 1.01% ✓
• Cap rate: 7.57%
• Cash-on-cash: 4.57%
• DSCR: 1.20
• GRM: 8.3

CMA / ARV

• ARV (median comp): $144,619
• List price: $99,000
• Delta: -31.54%
• 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
524 W Sylvandell St	0.14mi	3/2.0	1,485 (-1%)	1mo	$219,900	$148	88
326 W Graysville St	0.45mi	3/2.0	1,500 (+0%)	5mo	$183,250	$122	70
105 N French St	0.31mi	2/2.0 (-1)	1,520 (+2%)	4mo	$67,500	$44	70
419 S Bell St St	0.20mi	3/2.0	1,363 (-9%)	3mo	$230,000	$169	70
319 E Wall St	0.51mi	4/2.5 (+1)	1,505 (+1%)	1mo	$284,490	$189	67
318 E Washington St	0.55mi	4/2.5 (+1)	1,505 (+1%)	1mo	$284,490	$189	65
210 N West St	0.35mi	2/2.0 (-1)	1,413 (-5%)	2mo	$89,900	$64	64
320 E Washington St	0.55mi	3/2.0	1,426 (-5%)	1mo	$269,599	$189	62
339 N Broad St St	0.62mi	2/2.0 (-1)	1,578 (+6%)	0mo	$169,900	$108	53
306 N State St St	0.53mi	2/1.0 (-1)	1,421 (-5%)	3mo	$154,900	$109	52
324 S State St	0.36mi	3/1.0	1,713 (+15%)	4mo	$133,500	$78	47
562 S Court St St	0.44mi	2/1.0 (-1)	1,288 (-14%)	5mo	$135,000	$105	40

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: -9.2%
• Equity multiple: 0.66×
• Total profit: $-9,312
• Equity at exit: $14,761

10-year hold

• IRR: 0.3%
• Equity multiple: 1.02×
• Total profit: $593
• Equity at exit: $8,560

Cash invested: $27,720 (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 47882

• Home prices YoY: -11.1%
• Active inventory: 79
• Price-to-rent: 8.3×

Monthly cashflow live

• Estimated rent: $995 medium
• Mortgage (P&I): −$519
• Tax from tax record: −$120 /mo · $1,442/yr
• Insurance: −$41
• HOA: −$0
• Vacancy / Maint / Mgmt: −$209
• Net cashflow: $105

Break-even live

Break-even rent $861

Max offer price $99,000

Occupancy floor 84%

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: $24,750
• Closing costs: $2,970
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
564 S Court St Sullivan, IN	2.0	1.0	978	$995	$1.02	14d	1	0.47mi
564 S Court St Sullivan, IN	2.0	1.0	978	$995	$1.02	12d	1	0.47mi

Listing history 19 events

1. 2026-06-18
   days on market $99,000 Active 163 DOM
2. 2026-06-17
   days on market $99,000 Active 162 DOM
3. 2026-06-16
   days on market $99,000 Active 161 DOM
4. 2026-06-15
   days on market $99,000 Active 160 DOM
5. 2026-06-13
   days on market $99,000 Active 158 DOM
6. 2026-06-12
   days on market $99,000 Active 157 DOM
7. 2026-06-09
   days on market $99,000 Active 154 DOM
8. 2026-06-08
   days on market $99,000 Active 153 DOM
9. 2026-06-07
   days on market $99,000 Active 152 DOM
10. 2026-06-07
    days on market $99,000 Active 151 DOM
11. 2026-06-04
    days on market $99,000 Active 148 DOM
12. 2026-06-02
    days on market $99,000 Active 147 DOM
13. 2026-06-01
    days on market $99,000 Active 146 DOM
14. 2026-05-31
    days on market $99,000 Active 145 DOM
15. 2026-05-31
    days on market $99,000 Active 144 DOM
16. 2026-05-19
    price $99,000 671-char remark

    Show marketing remark (671 chars)

    Versatile property offering excellent potential as a single-family residence or income-producing investment. This 3-bedroom, 3-bath home features 1,494 square feet of living space and is currently occupied as a single-family home, though it was previously configured as a duplex and can easily be converted back. The property is equipped with two water heaters and separately metered electric for the front and rear portions of the home—ideal for a duplex or rental setup. Situated on a . 28-acre lot, the home also includes a utility shed and a spacious living room area. A great opportunity for investors or buyers seeking flexibility and future income potential.

17. 2026-04-29
    price $120,000 671-char remark

    Show marketing remark (671 chars)

    Versatile property offering excellent potential as a single-family residence or income-producing investment. This 3-bedroom, 3-bath home features 1,494 square feet of living space and is currently occupied as a single-family home, though it was previously configured as a duplex and can easily be converted back. The property is equipped with two water heaters and separately metered electric for the front and rear portions of the home—ideal for a duplex or rental setup. Situated on a . 28-acre lot, the home also includes a utility shed and a spacious living room area. A great opportunity for investors or buyers seeking flexibility and future income potential.

18. 2026-02-22
    price $145,000 671-char remark

    Show marketing remark (671 chars)

    Versatile property offering excellent potential as a single-family residence or income-producing investment. This 3-bedroom, 3-bath home features 1,494 square feet of living space and is currently occupied as a single-family home, though it was previously configured as a duplex and can easily be converted back. The property is equipped with two water heaters and separately metered electric for the front and rear portions of the home—ideal for a duplex or rental setup. Situated on a . 28-acre lot, the home also includes a utility shed and a spacious living room area. A great opportunity for investors or buyers seeking flexibility and future income potential.

19. 2026-01-06
    listed $160,000 Active 671-char remark

    Show marketing remark (671 chars)

    Versatile property offering excellent potential as a single-family residence or income-producing investment. This 3-bedroom, 3-bath home features 1,494 square feet of living space and is currently occupied as a single-family home, though it was previously configured as a duplex and can easily be converted back. The property is equipped with two water heaters and separately metered electric for the front and rear portions of the home—ideal for a duplex or rental setup. Situated on a . 28-acre lot, the home also includes a utility shed and a spacious living room area. A great opportunity for investors or buyers seeking flexibility and future income potential.

ⓘ 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: $1,442 · $120/mo
• Projected year-2 tax: $1,442 · $120/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 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 4/10 Moderate 7 d/yr ≥105°F today · 19 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 2% 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: $11,940
• − Mortgage interest: −$5,546
• − Property taxes: −$1,442
• − Insurance: −$495
• − Repairs & maintenance: −$955
• − Management: −$955
• − Depreciation: −$2,880
• Taxable loss: −$333
• Est. tax savings @ 24.0%: +$80
• After-tax cash flow: $1,346/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: Southwest School Corporation
• NCES district ID: 1810860
• Math proficiency: 40% ▼ -10.00%
• Reading proficiency: 42% ▼ -9.00%
• Median HH income: $43,624
• Composite: 34.71/100
• National rank: #5136
• State rank: #137 of 301 in IN

Livability — Sullivan

• Score: 70/100
• State rank: #167
• US rank: #7960

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Sullivan, IN
• City population: 8,494
• Population (ZIP): 8,494

Population outlook (Sullivan County) Hauer SSP2

• Today (2025): 20,313 people
• By 2030: 19,908 · -2.0%
• By 2040: 19,009 · -6.4%
• By 2050: 17,972 · -11.5%
• By 2075: 14,929 · -26.5%
• By 2100: 11,391 · -43.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (95%)
• Race & ethnicity: White 95% Two or more races 3%
• Common ancestry: Italian 2% Slovak 2% Iranian 2%
• Foreign-born: 1% · China
• Languages at home: 99% English-only · Spanish 1%

Political lean MEDSL · Sullivan

• 2024 margin: Solid R (+52.7) · D 22.8% · R 75.5% · Other 1.7%
• 2008→2024 swing: -52.0pp toward R · 2008: -0.7pp · 2024: -52.7pp
• All cycles: 2024: R+52.7 2020: R+50.5 2016: R+47.0 2012: R+20.6 2008: R+0.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -23.79%
• Current HPI: 190.5334
• 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

-38.1% since first listed

4 events — show timeline

• 2026-05-19 Price Changed $99,000 THAAR
• 2026-04-29 Price Changed $120,000 THAAR
• 2026-02-22 Price Changed $145,000 THAAR
• 2026-01-06 Listed $160,000 THAAR

Property tax history

+56.4%/yr

Latest (2024): $1,442 · +56.4% YoY. Source: county tax records.