280 E Wilkison St · Montezuma, IN 47862

$139,000

3 bd · 1.5 ba · 1,696 sqft · SingleFamily public records · 7 Days on market

Built 1979 0.25 ac lot Est $139k · at est.

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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 +18.8/30.0
• ARV discount +7.5/15.0
• DSCR +5.9/10.0
• Appreciation +5.5/10.0
• 1% rule +3.9/10.0
• Livability +3.2/5.0
• Schools +3.0/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

Spacious three bedroom one and 1/2 bath home with a two car attached garage in Montezuma. As you walk up to this welcoming home, you were greeted with a lovely covered front porch; a perfect place for relaxation and taking in the neighborhood. The split floor plan provides additional privacy by having the primary suite on one side of the house and the two secondary bedrooms on the opposite side. In the full bath, you will find a large size walk-in shower and the good news is this home has a secondary half bath. The kitchen is spacious and with the attached formal dining room. You'll have lots of space to entertain. The house has been updated with new whole house wrap as well as new siding.

Key facts

• Covered front porch
• New siding
• Split floor plan

Tags

• COVERED FRONT PORCH
• SPLIT FLOOR PLAN
• WALK-IN SHOWER
• ATTACHED FORMAL DINING ROOM
• NEW SIDING

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $139k.

Deal economics

• At list price, monthly cash flow is $139 ($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 $123k (11.4% below list).
• Recommended offer: $123k (11.4% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 65/100 on livability (#314 in IN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A; Watch: employment C-, crime D+, amenities F.
• Southwest Parke Community School Corporation (rural): math 34% / reading 36% proficiency, ranked #195 of 301 in IN (top 65%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Montezuma Elementary School (math 47% / reading 37%, grade F, #434 of 994 statewide, top 48%, 232 students, 66% FRL); Riverton Parke Jr-Sr High School (math 23% / reading 39%, grade F, #303 of 369 statewide, top 82%, 472 students, 53% FRL).
• Market conditions: 10 active listings in the ZIP; 61 units permitted in Parke County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $2k of equity ($961 loan paydown + $2k appreciation (1.1% local appreciation)).
• Parke County population projected at -10% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (1.1% appreciation + 3.0% rent growth), your $39k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• Only 7 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 19y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $38k; list at $139k implies a 266% gain — meaningful room to come down on a strong offer.

Recommended offer $123,110 (11.4% below list)

Questions for the listing agent

1. Built in 1979 — 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. 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?
5. 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.
6. 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.
7. 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: 7.50%
• Cash-on-cash: 4.30%
• DSCR: 1.19
• GRM: 9.4

CMA / ARV

• ARV (on-the-fly): $139,072
• Comps found: 5

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1479 N East Street St	0.38mi	3/1.5	1,680 (-1%)	0mo	$145,000	$86	80
230 E Poplar St	0.45mi	3/1.5	1,676 (-1%)	5mo	$24,000	$14	72
354 Bloomingdale Rd	0.27mi	2/1.0 (-1)	1,458 (-14%)	4mo	$120,000	$82	54
41 E B St	0.65mi	3/2.5	1,836 (+8%)	15mo	$150,000	$82	40
1696 N Washington St	0.53mi	3/1.0	1,456 (-14%)	22mo	$150,000	$103	31

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

Projected returns pro-forma

1.09% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 6.1%
• Equity multiple: 1.31×
• Total profit: $12,058
• Equity at exit: $48,129

10-year hold

• IRR: 10.2%
• Equity multiple: 2.25×
• Total profit: $48,584
• Equity at exit: $64,486

Cash invested: $38,920 (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 47862

• Home prices YoY: 0.5%
• Active inventory: 10
• Price-to-rent: 9.4×

Monthly cashflow live

• Estimated rent: $1,231 medium
• Mortgage (P&I): −$729
• Tax from tax record: −$46 /mo · $555/yr
• Insurance: −$58
• HOA: −$0
• Vacancy / Maint / Mgmt: −$259
• Net cashflow: $139

Break-even live

Break-even rent $1,055

Max offer price $139,000

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: $34,750
• Closing costs: $4,170
• Reserves months: —
• Total cash needed: —

Listing history 8 events

1. 2026-04-17
   status Pending
2. 2026-04-10
   listed $139,000 Active
3. 2023-10-13
   status Pending
4. 2023-09-26
   listed $112,500 Active
5. 2011-04-13
   soldstatus $38,000
6. 2010-10-21
   soldstatus $82,237
7. 2009-11-09
   historical
8. 2007-11-08
   listed $64,900

ⓘ 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: $555 · $46/mo
• Projected year-2 tax: $868 · $72/mo
• Expected delta: +$313/yr (+$26/mo · 56.4%)

ⓘ 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 4/10 Moderate 7 d/yr ≥105°F today · 19 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: $14,773
• − Mortgage interest: −$7,786
• − Property taxes: −$555
• − Insurance: −$695
• − Repairs & maintenance: −$1,182
• − Management: −$1,182
• − Depreciation: −$4,044
• Taxable loss: −$670
• Est. tax savings @ 24.0%: +$161
• After-tax cash flow: $1,834/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 Parke Community School Corporation
• NCES district ID: 1810900
• Math proficiency: 34% ▼ -4.00%
• Reading proficiency: 36% ▼ -6.00%
• Median HH income: $42,288
• Composite: 29.61/100
• National rank: #6474
• State rank: #195 of 301 in IN

Livability — Montezuma

• Score: 65/100
• State rank: #314
• US rank: #12442

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Montezuma, IN
• Population (ZIP): 1,262

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 (87%)
• Race & ethnicity: White 87% Two or more races 10% Hispanic / Latino 10% Black 2%
• Hispanic origin (detail): Mexican 10%
• Common ancestry: Iranian 2% Slovak 2% Romanian 2%
• Foreign-born: 2% · Canada, Jamaica
• Languages at home: 95% English-only · Spanish 5%

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: ▲ 1.09%
• Current HPI: 212.829
• 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

+114.2% since first listed

8 events — show timeline

• 2026-04-17 Pending — MIBOR as Distributed by MLS Grid
• 2026-04-10 Listed $139,000 MIBOR as Distributed by MLS Grid
• 2023-10-13 Pending — THAAR
• 2023-09-26 Listed $112,500 THAAR
• 2011-04-13 Sold (Public Records) $38,000 Public Records
• 2010-10-21 Sold (Public Records) $82,237 Public Records
• 2009-11-09 Listing Removed — MIBOR as Distributed by MLS Grid
• 2007-11-08 Listed $64,900 MIBOR as Distributed by MLS Grid

Property tax history

+4.9%/yr

Latest (2024): $555 · -8.7% YoY. Source: county tax records.