172 S North Dr · Rockville, IN 47872

$119,900

3 bd · 2.0 ba · 1,200 sqft · SingleFamily public records · 58 Days on market

Built 1985 0.78 ac lot Est $142k · 15% under

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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
• ARV discount +14.4/15.0
• DSCR +10.0/10.0
• 1% rule +7.2/10.0
• Livability +3.2/5.0
• Schools +2.9/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Affordably priced 3 bedroom, 2 bath home on the west edge of Rockville located on over 3/4 of an acre. Home needs work and updates but has alot of potential. Home is being sold as is.

Key facts

• 0.78 acre lot
• 2 garage spots
• Built 1985

Property features AI

Exterior

• Parking: Detached gravel driveway; Detached 2-car garage (672 sq ft)
• Utilities: Public water; Septic system
• Home design: Single-family residence; One-level home; Fixer condition
• Construction: Vinyl siding; Crawl space foundation
• Exterior features: Approximately 0.78-acre lot (about 1/2–1 acre); Has additional parcels

Interior

• Kitchen: Electric oven
• Bedrooms: 3 bedrooms (all on main level)
• Bathrooms: 2 full bathrooms (main level)
• Heating & cooling: Forced air heating (natural gas); Central air; Wall AC unit(s)
• Interior features: Woodwork stained or painted; Electric oven
• Laundry & utility: Main level laundry

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $120k.

Deal economics

• At list price, monthly cash flow is $455 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $120k).
• Recommended offer: $116k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 64/100 on livability (#372 in IN) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: employment D+, amenities F, commute F.
• North Central Parke Comm School Corporation (town): math 30% / reading 39% proficiency, ranked #198 of 301 in IN (top 66%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Rockville Elementary School (math 42% / reading 32%, grade F, #550 of 994 statewide, top 57%, 341 students, 64% FRL); Parke Heritage High School (math 12% / reading 57%, grade F, #270 of 369 statewide, top 77%, 341 students, 57% FRL) — zoned schools average 61% FRL vs 45% district-wide (16 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 84 active listings in the ZIP; 61 units permitted in Parke County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $829 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Parke County population projected at -10% 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 $34k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 58 days — a 3% lower offer ($116k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $10k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Recommended offer $116,303 (3.0% below list)

Questions for the listing agent

1. It's been on market 58 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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.
4. 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.
5. 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: 1.22% ✓
• Cap rate: 10.84%
• Cash-on-cash: 16.26%
• DSCR: 1.72
• GRM: 6.8

CMA / ARV

• ARV (on-the-fly): $141,600
• Comps found: 3

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
408 Voorhees St	0.74mi	3/2.0	1,176 (-2%)	10mo	$138,500	$118	54
407 S College St	0.70mi	2/1.0 (-1)	1,178 (-2%)	10mo	$20,000	$17	47
602 Tulip Ln	0.68mi	2/2.0 (-1)	1,376 (+15%)	15mo	$190,000	$138	26

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: 7.2%
• Equity multiple: 1.28×
• Total profit: $9,484
• Equity at exit: $17,877

10-year hold

• IRR: 16.5%
• Equity multiple: 2.35×
• Total profit: $45,339
• Equity at exit: $10,367

Cash invested: $33,572 (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 47872

• Home prices YoY: -7.8%
• Active inventory: 84
• Price-to-rent: 6.8×

Monthly cashflow live

• Estimated rent: $1,468 medium
• Mortgage (P&I): −$629
• Tax from tax record: −$26 /mo · $314/yr
• Insurance: −$50
• HOA: −$0
• Vacancy / Maint / Mgmt: −$308
• Net cashflow: $455

Break-even live

Break-even rent $892

Max offer price $119,900

Occupancy floor 64%

Sensitivity live

Price	-10% $523	-5% $489	+0% $455	+5% $421	+10% $387
Rent	-10% $339	-5% $397	+0% $455	+5% $513	+10% $571
Rate	-1.0pp $515	-0.5pp $485	base $455	+0.5pp $424	+1.0pp $392

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: $29,975
• Closing costs: $3,597
• Reserves months: —
• Total cash needed: —

Listing history 16 events

1. 2026-06-16
   status $119,900 Pending 58 DOM
2. 2026-06-15
   days on market $119,900 Active 58 DOM
3. 2026-06-14
   days on market $119,900 Active 56 DOM
4. 2026-06-12
   days on market $119,900 Active 55 DOM
5. 2026-06-09
   days on market $119,900 Active 52 DOM
6. 2026-06-08
   days on market $119,900 Active 51 DOM
7. 2026-06-07
   days on market $119,900 Active 50 DOM
8. 2026-06-05
   days on market $119,900 Active 47 DOM
9. 2026-06-03
   days on market $119,900 Active 46 DOM
10. 2026-06-02
    days on market $119,900 Active 45 DOM
11. 2026-06-01
    days on market $119,900 Active 44 DOM
12. 2026-05-31
    days on market $119,900 Active 43 DOM
13. 2026-05-30
    days on market $119,900 Active 42 DOM
14. 2026-05-05
    status Active
15. 2026-04-22
    status Pending
16. 2026-04-05
    listed $129,900 Active

ⓘ 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: $314 · $26/mo
• Projected year-2 tax: $667 · $56/mo
• Expected delta: +$353/yr (+$29/mo · 112.3%)

ⓘ 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 3/10 Moderate 7 d/yr ≥104°F today · 18 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: $17,616
• − Mortgage interest: −$6,716
• − Property taxes: −$314
• − Insurance: −$600
• − Repairs & maintenance: −$1,409
• − Management: −$1,409
• − Depreciation: −$3,488
• Taxable income: $3,679
• Est. tax owed @ 24.0%: −$883
• After-tax cash flow: $4,575/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: North Central Parke Comm School Corporation
• NCES district ID: 1800118
• Math proficiency: 30% ▼ -8.00%
• Reading proficiency: 39% ▼ -4.00%
• Median HH income: $43,739
• Composite: 29.31/100
• National rank: #6553
• State rank: #198 of 301 in IN

Livability — Rockville

• Score: 64/100
• State rank: #372
• US rank: #13880

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 8,641

Population outlook (Parke County) Hauer SSP2

• Today (2025): 15,937 people
• By 2030: 15,467 · -2.9%
• By 2040: 14,793 · -7.2%
• By 2050: 14,318 · -10.2%
• By 2075: 13,484 · -15.4%
• By 2100: 12,236 · -23.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (93%)
• Race & ethnicity: White 93% Black 3% Two or more races 3% Hispanic / Latino 2%
• Common ancestry: Iranian 3% Lithuanian 2% Slovak 2%
• Foreign-born: 0%
• Languages at home: 92% English-only · German/W. Germanic 5% Spanish 2% French/Haitian/Cajun 1%

Political lean MEDSL · Parke

• 2024 margin: Solid R (+56.9) · D 20.6% · R 77.5% · Other 1.9%
• 2008→2024 swing: -42.8pp toward R · 2008: -14.1pp · 2024: -56.9pp
• All cycles: 2024: R+56.9 2020: R+55.5 2016: R+52.0 2012: R+32.6 2008: R+14.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -19.85%
• Current HPI: 234.3039
• 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

3 events — show timeline

• 2026-05-05 Relisted — MIBOR as Distributed by MLS Grid
• 2026-04-22 Pending — MIBOR as Distributed by MLS Grid
• 2026-04-05 Listed $129,900 MIBOR as Distributed by MLS Grid

Property tax history

+0.0%/yr

Latest (2024): $314 · +17.7% YoY. Source: county tax records.