404 Oak St · Crothersville, IN 47229

$120,000

2 bd · 1.0 ba · 1,440 sqft · SingleFamily public records · 68 Days on market

Built 1948 0.40 ac lot $83/sqft · 14% below area Est $161k · 25% 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 +19.6/30.0
• ARV discount +15.0/15.0
• DSCR +6.2/10.0
• 1% rule +4.1/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.8/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

This future dollhouse is looking for a handy owner. The main floor has been finished for you! Located on almost a half acre, this 3 bedroom, 1 bathroom home has endless potential. Improvements in 2012: Roof, gas furnace, central air, 200 amp electrical panel 2020: Water heater Home has a side lot and 2 car detached garage with electric.

Key facts

• 0.4 acre lot
• 2 garage spots
• Built 1948

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $120k.

Deal economics

• At list price, monthly cash flow is $137 ($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 $109k (8.9% below list).
• Recommended offer: $109k (8.9% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 65/100 on livability (#350 in IN) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: employment C-, health & safety D, schools F.
• Crothersville Community Schools (rural): math 14% / reading 27% proficiency, ranked #273 of 301 in IN (top 91%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 24 active listings in the ZIP; 101 units permitted in Jackson County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $830 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Jackson County population projected at +7% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• It's been on market 68 days — a 6% lower offer ($113k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 11y ago; this cycle's ask has dropped $10k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $58k; list at $120k implies a 109% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1948 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $109,372 (8.9% below list)

Questions for the listing agent

1. It's been on market 68 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1948 — 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 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?
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: 0.91% ✗
• Cap rate: 7.67%
• Cash-on-cash: 4.91%
• DSCR: 1.22
• GRM: 9.1

CMA / ARV

• ARV (median comp): $160,573
• List price: $120,000
• Delta: -25.27%
• 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
513 Seymour Rd	0.18mi	3/2.0 (+1)	1,350 (-6%)	7mo	$210,000	$156	66
203 E Walnut St	0.16mi	3/2.0 (+1)	1,272 (-12%)	0mo	$209,500	$165	64
316 N Vine St	0.10mi	3/2.0 (+1)	1,272 (-12%)	4mo	$194,900	$153	64
628 E Main St	0.32mi	3/2.0 (+1)	1,422 (-1%)	13mo	$230,500	$162	63
103 Park Ave	0.43mi	1/1.0 (-1)	1,344 (-7%)	1mo	$135,000	$100	63
302 N Jackson St	0.01mi	3/2.0 (+1)	1,296 (-10%)	14mo	$154,900	$120	62
203 W Bard St	0.35mi	3/1.5 (+1)	1,341 (-7%)	6mo	$179,900	$134	60
511 N Jackson St	0.20mi	3/1.0 (+1)	1,236 (-14%)	6mo	$171,000	$138	57
163 N Virginia Ct	0.48mi	3/1.5 (+1)	1,440 (0%)	17mo	$182,000	$126	57
221 West St	0.48mi	3/1.5 (+1)	1,508 (+5%)	8mo	$155,000	$103	56
612 E Main St Cir	0.27mi	3/2.0 (+1)	1,252 (-13%)	13mo	$205,000	$164	46
315 Myres St	0.42mi	3/1.0 (+1)	1,280 (-11%)	15mo	$159,900	$125	45

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: -8.7%
• Equity multiple: 0.68×
• Total profit: $-10,739
• Equity at exit: $17,892

10-year hold

• IRR: 0.7%
• Equity multiple: 1.05×
• Total profit: $1,729
• Equity at exit: $10,375

Cash invested: $33,600 (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 47229

• Home prices YoY: -29.5%
• Active inventory: 24
• Price-to-rent: 9.1×

Monthly cashflow live

• Estimated rent: $1,094 medium
• Mortgage (P&I): −$629
• Tax from tax record: −$47 /mo · $568/yr
• Insurance: −$50
• HOA: −$0
• Vacancy / Maint / Mgmt: −$230
• Net cashflow: $137

Break-even live

Break-even rent $920

Max offer price $120,000

Occupancy floor 82%

Sensitivity live

Price	-10% $205	-5% $171	+0% $137	+5% $103	+10% $69
Rent	-10% $51	-5% $94	+0% $137	+5% $181	+10% $224
Rate	-1.0pp $198	-0.5pp $168	base $137	+0.5pp $106	+1.0pp $75

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: $30,000
• Closing costs: $3,600
• Reserves months: —
• Total cash needed: —

Listing history 5 events

1. 2026-05-19
   status Pending 345-char remark

   Show marketing remark (345 chars)

   This future dollhouse is looking for a handy owner. The main floor has been finished for you! Located on almost a half acre, this 3 bedroom, 1 bathroom home has endless potential. Improvements in 2012: Roof, gas furnace, central air, 200 amp electrical panel 2020: Water heater Home has a side lot and 2 car detached garage with electric.

2. 2026-03-24
   price $120,000 345-char remark

   Show marketing remark (345 chars)

   This future dollhouse is looking for a handy owner. The main floor has been finished for you! Located on almost a half acre, this 3 bedroom, 1 bathroom home has endless potential. Improvements in 2012: Roof, gas furnace, central air, 200 amp electrical panel 2020: Water heater Home has a side lot and 2 car detached garage with electric.

3. 2026-03-11
   listed $130,000 Active 345-char remark

   Show marketing remark (345 chars)

   This future dollhouse is looking for a handy owner. The main floor has been finished for you! Located on almost a half acre, this 3 bedroom, 1 bathroom home has endless potential. Improvements in 2012: Roof, gas furnace, central air, 200 amp electrical panel 2020: Water heater Home has a side lot and 2 car detached garage with electric.

4. 2016-06-30
   soldstatus $57,500 644-char remark

   Show marketing remark (644 chars)

   Cute little 3 /4 bedroom doll house with amazing opportunities. All the hard work has been done for you. NEW within the last 3 years roof, house & 2 car detached garage, new gas furnace & central air, 200 amp electoral box in house, hardwired smoke detectors , exterior doors on the house, vinyl storm door, and some new vinyl thermo pane windows. You get double for you money with this pretty corner lot plus the lot the house sits on. Nice two car det. garage is 25 x 31, One car det. garage is 13 x 26, plus a storage building. All you need to do to make this yours, is decorate the inside ! Seller is motivated ! May help with cost!

5. 2015-07-23
   listed $63,500 644-char remark

   Show marketing remark (644 chars)

   Cute little 3 /4 bedroom doll house with amazing opportunities. All the hard work has been done for you. NEW within the last 3 years roof, house & 2 car detached garage, new gas furnace & central air, 200 amp electoral box in house, hardwired smoke detectors , exterior doors on the house, vinyl storm door, and some new vinyl thermo pane windows. You get double for you money with this pretty corner lot plus the lot the house sits on. Nice two car det. garage is 25 x 31, One car det. garage is 13 x 26, plus a storage building. All you need to do to make this yours, is decorate the inside ! Seller is motivated ! May help with cost!

ⓘ 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: $568 · $47/mo
• Projected year-2 tax: $794 · $66/mo
• Expected delta: +$226/yr (+$19/mo · 39.8%)

ⓘ 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 5/10 Major 7 d/yr ≥104°F today · 20 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $13,125
• − Mortgage interest: −$6,722
• − Property taxes: −$568
• − Insurance: −$600
• − Repairs & maintenance: −$1,050
• − Management: −$1,050
• − Depreciation: −$3,491
• Taxable loss: −$356
• Est. tax savings @ 24.0%: +$85
• After-tax cash flow: $1,734/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: Crothersville Community Schools
• NCES district ID: 1812060
• Math proficiency: 14% ▼ -11.00%
• Reading proficiency: 27% ▼ -8.00%
• Median HH income: $42,335
• Composite: 17.55/100
• National rank: #9045
• State rank: #273 of 301 in IN

Livability — Crothersville

• Score: 65/100
• State rank: #350
• US rank: #13406

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Crothersville, IN
• Population (ZIP): 2,971

Population outlook (Jackson County) Hauer SSP2

• Today (2025): 46,376 people
• By 2030: 47,344 · +2.1%
• By 2040: 48,936 · +5.5%
• By 2050: 49,738 · +7.2%
• By 2075: 50,435 · +8.8%
• By 2100: 46,321 · -0.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (94%)
• Race & ethnicity: White 94% Two or more races 4% Hispanic / Latino 3% Asian 2%
• Common ancestry: Slovak 2% Serbian 1% Lithuanian 1%
• Foreign-born: 1% · Canada
• Languages at home: 97% English-only · Other Asian/Pacific 2% Spanish 1%

Political lean MEDSL · Jackson

• 2024 margin: Solid R (+55.3) · D 21.5% · R 76.8% · Other 1.7%
• 2008→2024 swing: -41.6pp toward R · 2008: -13.7pp · 2024: -55.3pp
• All cycles: 2024: R+55.3 2020: R+53.3 2016: R+51.4 2012: R+27.4 2008: R+13.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -95.05%
• Current HPI: 226.6975
• 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

+89.0% since first listed

5 events — show timeline

• 2026-05-19 Pending — MIBOR as Distributed by MLS Grid
• 2026-03-24 Price Changed $120,000 MIBOR as Distributed by MLS Grid
• 2026-03-11 Listed $130,000 MIBOR as Distributed by MLS Grid
• 2016-06-30 Sold (MLS) $57,500 MIBOR as Distributed by MLS Grid
• 2015-07-23 Listed $63,500 MIBOR as Distributed by MLS Grid

Property tax history

+18.0%/yr

Latest (2024): $568 · +3.2% YoY. Source: county tax records.