307 W Water St · Borden, IN 47106

$230,000

3 bd · 1.0 ba · 1,348 sqft · SingleFamily public records · 1 Days on market

Built 2002 0.43 ac lot Est $260k · 12% under

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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 +18.2/30.0
• ARV discount +12.7/15.0
• Appreciation +10.0/10.0
• DSCR +5.7/10.0
• Schools +5.0/10.0
• 1% rule +3.9/10.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

Welcome home to this well-maintained 3-bedroom, 2-bath ranch offering comfortable one-level living and a spacious, functional floor plan. The inviting living room features a tray ceiling and opens seamlessly to the eat-in kitchen, where abundant cabinetry, a center island with seating, and generous dining space make everyday living and entertaining easy. The primary suite provides a private retreat with an en-suite bath, while two additional bedrooms offer flexibility for family, guests, or a home office. Neutral finishes throughout create a warm and welcoming atmosphere, and the home has been lovingly cared for and move-in ready. Step outside to enjoy the backyard patio, perfect for relaxi

Key facts

• Backyard patio
• Eat in kitchen
• Storage shed

Tags

• ONE LEVEL LIVING
• EAT IN KITCHEN
• CENTER ISLAND
• PRIVATE RETREAT
• BACKYARD PATIO
• STORAGE SHED

Property features AI

Finance

• Financial info: Annual property tax listed

Exterior

• Parking: Attached garage with automatic garage door opener (1 car)
• Utilities: Public water; Public sewer; Connected to municipal water
• Home design: Single-story home; Frame construction with vinyl siding; Shingle roof; Poured foundation; Residential zoning
• Construction: Frame construction with vinyl siding; Shingle roof; Poured foundation; Built as single-story
• Exterior features: Landscaping; Paved driveway; Covered porch; Patio

Interior

• Kitchen: Oven; Range; Dishwasher; Refrigerator; Vinyl flooring in kitchen
• Bedrooms: Two first-floor bedrooms (approx. 9 x 11 and 10 x 11); Main bedroom includes attached full bath
• Flooring: Carpet in living areas and bedrooms; Vinyl in dining room and kitchen
• Bathrooms: Two full bathrooms (one attached to main bedroom)
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: Ceramic bath; Ceiling fan(s); Main level primary bedroom; Window treatments; Blinds; Thermal windows
• Laundry & utility: Main-level laundry in a laundry closet

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $230k.

Deal economics

• At list price, monthly cash flow is $205 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $204k (11.3% below list).
• Recommended offer: $204k (11.3% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 61/100 on livability (#507 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.
• Market conditions: 26 active listings in the ZIP; 911 units permitted in Clark County in 2024 (133 in 5+ unit buildings).

Forward outlook

• In year one you build about $25k of equity ($2k loan paydown + $23k appreciation (10.0% local appreciation)).
• Clark County population projected at +17% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $64k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$40k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Climate carrying-cost: extreme-heat days projected 7→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $204,099 (11.3% below list)

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
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: 0.89% ✗
• Cap rate: 7.36%
• Cash-on-cash: 3.81%
• DSCR: 1.17
• GRM: 9.4

CMA / ARV

• ARV (on-the-fly): $260,164
• Comps found: 5

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
633 W Water St	0.26mi	3/1.0	1,200 (-11%)	8mo	$240,000	$200	63
112 Mckinley Dr	0.28mi	4/1.0 (+1)	1,242 (-8%)	7mo	$204,000	$164	63
236 Brewer Dr	0.44mi	3/2.0	1,148 (-15%)	0mo	$225,000	$196	51
203 Borden Ridge Dr	0.42mi	3/2.0	1,215 (-10%)	12mo	$235,000	$193	50
206 Borden Ridge Dr	0.43mi	4/2.0 (+1)	1,542 (+14%)	10mo	$235,000	$152	39

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

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 27.0%
• Equity multiple: 3.15×
• Total profit: $138,215
• Equity at exit: $207,202

10-year hold

• IRR: 23.6%
• Equity multiple: 7.16×
• Total profit: $396,611
• Equity at exit: $446,839

Cash invested: $64,400 (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 47106

• Home prices YoY: 6.7%
• Active inventory: 26
• Price-to-rent: 9.4×

Monthly cashflow live

• Estimated rent: $2,041 medium
• Mortgage (P&I): −$1,206
• Tax from tax record: −$106 /mo · $1,270/yr
• Insurance: −$96
• HOA: −$0
• Vacancy / Maint / Mgmt: −$429
• Net cashflow: $205

Break-even live

Break-even rent $1,782

Max offer price $230,000

Occupancy floor 85%

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: $57,500
• Closing costs: $6,900
• Reserves months: —
• Total cash needed: —

Listing history 2 events

1. 2026-06-02
   remarks 699-char remark
2. 2026-06-02
   listed $230,000 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: $1,270 · $106/mo
• Projected year-2 tax: $1,612 · $134/mo
• Expected delta: +$343/yr (+$29/mo · 27.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone X (unshaded) · 22% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 5/10 Major 7 d/yr ≥104°F today · 21 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: $24,492
• − Mortgage interest: −$12,884
• − Property taxes: −$1,270
• − Insurance: −$1,150
• − Repairs & maintenance: −$1,959
• − Management: −$1,959
• − Depreciation: −$6,691
• Taxable loss: −$1,421
• Est. tax savings @ 24.0%: +$341
• After-tax cash flow: $2,796/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)

No district data.

Livability — Borden

• Score: 61/100
• State rank: #507
• US rank: #17982

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Borden, IN
• Population (ZIP): 4,583

Population outlook (Clark County) Hauer SSP2

• Today (2025): 126,401 people
• By 2030: 131,455 · +4.0%
• By 2040: 140,471 · +11.1%
• By 2050: 147,677 · +16.8%
• By 2075: 161,702 · +27.9%
• By 2100: 164,078 · +29.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (95%)
• Race & ethnicity: White 95% Two or more races 2%
• Common ancestry: Lithuanian 2% Serbian 2% Italian 2%
• Foreign-born: 0%

Political lean MEDSL · Clark

• 2024 margin: Strong R (+20.4) · D 38.9% · R 59.3% · Other 1.8%
• 2008→2024 swing: -13.3pp toward R · 2008: -7.1pp · 2024: -20.4pp
• All cycles: 2024: R+20.4 2020: R+18.3 2016: R+22.0 2012: R+9.9 2008: R+7.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 21.50%
• Current HPI: 344.4
• 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

• 2026-06-02 Listed $230,000 SIRA

Property tax history

+3.7%/yr

Latest (2024): $1,270 · +19.8% YoY. Source: county tax records.