122 N Elm St

Losantville, IN 47354

$75,000C

1 bd · 1.0 ba · 889 sqft · Built 1890 · SingleFamily · Active · 6 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $861/mo
• Mortgage (P&I): −$393
• Tax + insurance: −$61
• HOA: −$0
• Vac / Maint / Mgmt: −$181
• Net cashflow: $227/mo
• Annual: $2,719/yr
• Cap rate: 9.92%
• Cash-on-cash: 12.95%
• DSCR: 1.58
• 1% rule: 1.15%
• Cash to close: $21,000

Investor read

• This is a 1-bed/1.0-bath single-family listed at $75k.
• At list price, monthly cash flow is $227 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($861 rent vs $75k).
• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.
• In year one you build about $3k of equity ($519 loan paydown + $2k appreciation (3.0% local appreciation)).
• Location reads 59/100 on livability (#570 in IN) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+; Watch: health & safety C-, crime D+, amenities F.
• Union School Corporation (rural): math 12% / reading 28% proficiency, ranked #276 of 301 in IN (top 92%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Union Elementary School (math 22% / reading 27%, grade F, #762 of 994 statewide, top 78%, 125 students, 64% FRL); Union Junior & High School (math 8% / reading 32%, grade F, #345 of 369 statewide, top 95%, 139 students, 63% FRL).
• Watch-outs: built in 1890 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 5 active listings in the ZIP; 19 units permitted in Randolph County in 2024 (0 in 5+ unit buildings).
• Randolph County population projected at -26% 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 $21k cash investment doubles in ~4 years — after that, you're playing with house money.

Questions for listing agent

• Built in 1890 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
• Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
• 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.
• 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.
• 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.