312 N 13th St · Richmond, IN 47374

$86,900

3 bd · 2.0 ba · 2,041 sqft · SingleFamily public records · 90 Days on market

Built 1920 9,583 sqft lot

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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
• DSCR +10.0/10.0
• 1% rule +9.4/10.0
• ARV discount +7.5/15.0
• Livability +4.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.9/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

This bungalow has loads of character that is sure to appeal: LOTS OF BUILT-INS AND NATURAL WOODWORK. The first floor features an all weather enclosed front porch. Upon entering the front door you'll find a wonderfully large living room with a beautiful wood burning fireplace and wonderful hardwood floors. Off of the living room is the large dining room with all the beautiful built-ins. Beyond the dining room is the large kitchen with pantry. Beyond the kitchen is a nice back porch with laundry area. There is also a first floor bedroom with a full bathroom. The home has been completely redone from top to bottom, updated electrical, plumbing, flooring, paint and more. The wood burning fireplace is believed to work, but is being sold in as-is condition. This home is being sold retail, for the price listed, or sold at package price of $40,000 when buying at least 9 more investment properties from the rental package offered by this seller. Please see Elly for more details, prices, and addresses of other investment properties available by package. Complete profit and loss of the investments are available upon request to qualified buyers upon submitting an offer. Call Elly for more info at 765-220-5632

Key facts

• One-level living
• Walk-in closets
• Detached garage

Tags

• WALK-IN CLOSETS
• ONE-LEVEL LIVING
• FULLY FENCED BACKYARD
• DETACHED GARAGE
• ADDITIONAL FINISHING POTENTIAL

Property features AI

Exterior

• Parking: Detached 2-car garage
• Utilities: Public water; Public sewer
• Home design: Single-family residence; 2 stories
• Construction: Wood siding construction
• Exterior features: Shingle roof

Interior

• Bedrooms: 6 total rooms (bedroom count not specified)
• Bathrooms: 2 full bathrooms
• Heating & cooling: Forced air heating (natural gas); Central air conditioning
• Interior features: Electric water heater; Full unfinished basement

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $87k.

Deal economics

• At list price, monthly cash flow is $407 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $87k).
• Recommended offer: $82k (6.0% below list) — sets the bar for market timing.
• Cap rate 11.9% vs local median 5.2% in Richmond — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 83/100 on livability (#10 in IN, #869 nationally) — a professional / high-income tenant draw. Strengths: commute A+, cost of living A+, housing A+; Watch: crime D+, employment D-.
• Richmond Community Schools (town): math 18% / reading 27% proficiency, ranked #270 of 301 in IN (top 90%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 65% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Richmond High School (math 21% / reading 48%, grade F, #270 of 369 statewide, top 77%, 1,332 students, 66% FRL) — zoned schools at 66% FRL track the district average.
• Zoned-school proficiency averages 34% at this address vs 22% district-wide (+12 pts) — the actual schools serving this property are materially stronger than the Richmond Community Schools average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: 277 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 38 units permitted in Wayne County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $601 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Wayne County population projected at -21% 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 $24k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 90 days — a 6% lower offer ($82k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 8y 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 $46k; list at $87k implies a 89% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $81,686 (6.0% below list)

Questions for the listing agent

1. It's been on market 90 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1920 — 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 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?
6. 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?
7. 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.
8. 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.
9. 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: 1.44% ✓
• Cap rate: 11.92%
• Cash-on-cash: 20.09%
• DSCR: 1.89
• GRM: 5.8

CMA / ARV

• ARV (on-the-fly): $55,107
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
320 N 13th St	0.02mi	3/1.0	2,056 (+1%)	2mo	$16,000	$8	92
1126 N D St	0.09mi	2/1.0 (-1)	1,876 (-8%)	8mo	$50,000	$27	67
415 N 14th St	0.13mi	3/1.5	1,762 (-14%)	8mo	$55,500	$31	63
52 S South 12th St	0.37mi	4/2.0 (+1)	1,836 (-10%)	2mo	$140,000	$76	60
35 S 15th St	0.37mi	4/2.0 (+1)	1,858 (-9%)	7mo	$41,000	$22	57
226 S 15th St	0.58mi	4/2.0 (+1)	1,947 (-5%)	5mo	$74,000	$38	56
212 S 14th St	0.53mi	4/2.0 (+1)	2,105 (+3%)	11mo	$25,000	$12	56
86 Fort Wayne Ave	0.53mi	3/2.0	2,305 (+13%)	1mo	$18,000	$8	53
28 S 19th St	0.51mi	4/1.5 (+1)	1,944 (-5%)	13mo	$27,000	$14	50
115 N 21st St	0.60mi	2/1.0 (-1)	1,910 (-6%)	8mo	$35,000	$18	45
301 S 16th St	0.65mi	3/2.5	1,782 (-13%)	4mo	$270,000	$152	43
135 S 21st St	0.74mi	4/2.5 (+1)	1,820 (-11%)	4mo	$213,000	$117	37

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: 12.3%
• Equity multiple: 1.49×
• Total profit: $11,876
• Equity at exit: $12,957

10-year hold

• IRR: 21.2%
• Equity multiple: 2.80×
• Total profit: $43,784
• Equity at exit: $7,514

Cash invested: $24,332 (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 47374

• Active inventory: 277
• Price-to-rent: 5.8×

Monthly cashflow live

• Estimated rent: $1,251 medium
• Mortgage (P&I): −$456
• Tax from tax record: −$89 /mo · $1,068/yr
• Insurance: −$36
• HOA: −$0
• Vacancy / Maint / Mgmt: −$263
• Net cashflow: $407

Break-even live

Break-even rent $735

Max offer price $86,900

Occupancy floor 62%

Sensitivity live

Price	-10% $457	-5% $432	+0% $407	+5% $383	+10% $358
Rent	-10% $309	-5% $358	+0% $407	+5% $457	+10% $506
Rate	-1.0pp $451	-0.5pp $430	base $407	+0.5pp $385	+1.0pp $362

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: $21,725
• Closing costs: $2,607
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
418 NW L St Richmond, IN	3.0	1.0	1608	$1,275	$0.79	44d	1	1.34mi

Listing history 28 events

1. 2026-06-21
   days on market $86,900 Active 90 DOM
2. 2026-06-19
   days on market $86,900 Active 88 DOM
3. 2026-06-18
   days on market $86,900 Active 87 DOM
4. 2026-06-17
   days on market $86,900 Active 86 DOM
5. 2026-06-16
   days on market $86,900 Active 85 DOM
6. 2026-06-15
   days on market $86,900 Active 84 DOM
7. 2026-06-14
   days on market $86,900 Active 82 DOM
8. 2026-06-12
   days on market $86,900 Active 81 DOM
9. 2026-06-09
   days on market $86,900 Active 78 DOM
10. 2026-06-08
    days on market $86,900 Active 77 DOM
11. 2026-06-07
    days on market $86,900 Active 76 DOM
12. 2026-06-03
    days on market $86,900 Active 72 DOM
13. 2026-06-02
    days on market $86,900 Active 71 DOM
14. 2026-06-01
    days on market $86,900 Active 70 DOM
15. 2026-05-31
    days on market $86,900 Active 69 DOM
16. 2026-05-30
    days on market $86,900 Active 68 DOM
17. 2026-04-20
    status Active
18. 2026-04-14
    status Pending
19. 2026-03-17
    listed $86,900 Active
20. 2026-02-23
    soldstatus $45,900
21. 2026-01-21
    status Pending
22. 2026-01-06
    price $75,000
23. 2025-12-29
    price $79,999
24. 2025-12-23
    price $90,000
25. 2025-12-01
    price $99,999
26. 2025-11-21
    listed $109,999 Active
27. 2019-01-18
    soldstatus $49,900 1214-char remark

    Show marketing remark (1214 chars)

    This bungalow has loads of character that is sure to appeal: LOTS OF BUILT-INS AND NATURAL WOODWORK. The first floor features an all weather enclosed front porch. Upon entering the front door you'll find a wonderfully large living room with a beautiful wood burning fireplace and wonderful hardwood floors. Off of the living room is the large dining room with all the beautiful built-ins. Beyond the dining room is the large kitchen with pantry. Beyond the kitchen is a nice back porch with laundry area. There is also a first floor bedroom with a full bathroom. The home has been completely redone from top to bottom, updated electrical, plumbing, flooring, paint and more. The wood burning fireplace is believed to work, but is being sold in as-is condition. This home is being sold retail, for the price listed, or sold at package price of $40,000 when buying at least 9 more investment properties from the rental package offered by this seller. Please see Elly for more details, prices, and addresses of other investment properties available by package. Complete profit and loss of the investments are available upon request to qualified buyers upon submitting an offer. Call Elly for more info at 765-220-5632

28. 2018-11-13
    listed $49,900 1214-char remark

    Show marketing remark (1214 chars)

    This bungalow has loads of character that is sure to appeal: LOTS OF BUILT-INS AND NATURAL WOODWORK. The first floor features an all weather enclosed front porch. Upon entering the front door you'll find a wonderfully large living room with a beautiful wood burning fireplace and wonderful hardwood floors. Off of the living room is the large dining room with all the beautiful built-ins. Beyond the dining room is the large kitchen with pantry. Beyond the kitchen is a nice back porch with laundry area. There is also a first floor bedroom with a full bathroom. The home has been completely redone from top to bottom, updated electrical, plumbing, flooring, paint and more. The wood burning fireplace is believed to work, but is being sold in as-is condition. This home is being sold retail, for the price listed, or sold at package price of $40,000 when buying at least 9 more investment properties from the rental package offered by this seller. Please see Elly for more details, prices, and addresses of other investment properties available by package. Complete profit and loss of the investments are available upon request to qualified buyers upon submitting an offer. Call Elly for more info at 765-220-5632

ⓘ 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: $1,068 · $89/mo
• Projected year-2 tax: $1,068 · $89/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 ≥100°F today · 18 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,013
• − Mortgage interest: −$4,868
• − Property taxes: −$1,068
• − Insurance: −$434
• − Repairs & maintenance: −$1,201
• − Management: −$1,201
• − Depreciation: −$2,528
• Taxable income: $3,713
• Est. tax owed @ 24.0%: −$891
• After-tax cash flow: $3,998/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: Richmond Community Schools
• NCES district ID: 1809510
• Math proficiency: 18% ▼ -7.00%
• Reading proficiency: 27% ▼ -2.00%
• Median HH income: $35,288
• Composite: 18.55/100
• National rank: #8913
• State rank: #270 of 301 in IN

Livability — Richmond

• Score: 83/100
• State rank: #10
• US rank: #869

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Richmond, IN
• County: Wayne County · 44,615 people
• City population: 44,615
• Metro: Richmond, IN
• Population (ZIP): 44,615
• Household income: $50,766
• Rent vs Own: 36.0% rent · 64.0% own
• Severe rent burden: 1600.0

Population outlook (Wayne County) Hauer SSP2

• Today (2025): 63,316 people
• By 2030: 60,893 · -3.8%
• By 2040: 55,386 · -12.5%
• By 2050: 49,946 · -21.1%
• By 2075: 37,900 · -40.1%
• By 2100: 26,562 · -58.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (82%)
• Race & ethnicity: White 82% Two or more races 7% Black 6% Hispanic / Latino 4% Asian 1%
• Common ancestry: Slovak 2% Italian 1% Lithuanian 1%
• Foreign-born: 4% · Canada, China
• Languages at home: 95% English-only · Spanish 3%

Political lean MEDSL · Wayne

• 2024 margin: Solid R (+32.5) · D 32.9% · R 65.4% · Other 1.6%
• 2008→2024 swing: -28.6pp toward R · 2008: -3.9pp · 2024: -32.5pp
• All cycles: 2024: R+32.5 2020: R+29.1 2016: R+30.1 2012: R+14.7 2008: R+3.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -118.64%
• Current HPI: 182.5038
• Rent YoY: —
• Metro: Richmond, IN
• 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

+74.1% since first listed

12 events — show timeline

• 2026-04-20 Relisted — RRELMS
• 2026-04-14 Pending — RRELMS
• 2026-03-17 Listed $86,900 RRELMS
• 2026-02-23 Sold (Public Records) $45,900 Public Records
• 2026-01-21 Pending — IRMLS
• 2026-01-06 Price Changed $75,000 IRMLS
• 2025-12-29 Price Changed $79,999 IRMLS
• 2025-12-23 Price Changed $90,000 IRMLS
• 2025-12-01 Price Changed $99,999 IRMLS
• 2025-11-21 Listed $109,999 IRMLS
• 2019-01-18 Sold (MLS) $49,900 RRELMS
• 2018-11-13 Listed $49,900 RRELMS

Property tax history

+9.9%/yr

Latest (2024): $1,068 · +14.1% YoY. Source: county tax records.