105 S Fifth St · Francisco, IN 47649

$150,000

5 bd · 3.0 ba · 2,300 sqft · MultiFamily public records · 37 Days on market

Built 1900 $65/sqft · 22% below area Est $193k · 22% under

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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 +19.8/30.0
• ARV discount +15.0/15.0
• Appreciation +9.2/10.0
• DSCR +6.3/10.0
• 1% rule +4.3/10.0
• Schools +3.2/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks

Attention Investors!! This well crafted brick building has been converted in two large apartments. Unit A accessed from front 3 bedroom and Unit B accessed from back 2 bedroom. There is a basement with and exterior access with lots of storage or 3rd apartment potential. Selling As Is.

Key facts

• Large apartments
• Brick building
• Built 1900

Tags

• BRICK BUILDING
• LARGE APARTMENTS
• BASEMENT WITH EXTERIOR ACCESS
• STORAGE OR APARTMENT POTENTIAL

Property features AI

Finance

• Other: Approximately 2,300 above-grade finished square feet

Exterior

• Utilities: Public water; Public sewer
• Home design: Single-family site-built home; Residential property
• Construction: Brick construction; Brick/mortar and block foundation
• Exterior features: Sloped lot; Lot dimensions approximately 50 x 150

Interior

• Bedrooms: Bedrooms located on the main level
• Bathrooms: 2 full bathrooms, both on the main level
• Heating & cooling: Central air conditioning; Forced air heating
• Interior features: 7 total rooms; Partial basement

What this means for you Summary

Snapshot

• This is a 5-bed/3.0-bath multifamily listed at $150k.

Deal economics

• At list price, monthly cash flow is $177 ($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 $139k (7.2% below list).
• Recommended offer: $139k (7.2% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 63/100 on livability (#425 in IN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: crime C-, amenities F, commute F.
• East Gibson School Corporation (town): math 40% / reading 35% proficiency, ranked #171 of 301 in IN (top 57%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Waldo J Wood Memorial Jhs (math 27% / reading 32%, grade F, #212 of 330 statewide, top 67%, 119 students, 60% FRL); Waldo J Wood Memorial High (math 34% / reading 44%, grade F, #221 of 369 statewide, top 63%, 212 students, 37% FRL).
• Market conditions: 5 active listings in the ZIP; 167 units permitted in Gibson County in 2024 (68 in 5+ unit buildings).

Forward outlook

• In year one you build about $14k of equity ($1k loan paydown + $13k appreciation (8.4% local appreciation)).
• Gibson County population projected to shrink 10% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (8.4% appreciation + 3.0% rent growth), your $42k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 37 days — a 3% lower offer ($146k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $30k; list at $150k implies a 402% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $139,173 (7.2% below list)

Questions for the listing agent

1. It's been on market 37 days. Have you received any prior offers? Is the seller open to a 7% concession, seller financing, or rate buy-down credit?
2. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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.
5. 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.
6. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 0.93% ✗
• Cap rate: 7.71%
• Cash-on-cash: 5.07%
• DSCR: 1.23
• GRM: 9.0

CMA / ARV

• ARV (median comp): $193,255
• List price: $150,000
• Delta: -22.38%
• Verdict: UNDERPRICED
• Comps: 1 within 2.0 mi

Projected returns pro-forma

8.42% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 24.7%
• Equity multiple: 2.83×
• Total profit: $77,061
• Equity at exit: $118,239

10-year hold

• IRR: 22.2%
• Equity multiple: 6.13×
• Total profit: $215,354
• Equity at exit: $238,908

Cash invested: $42,000 (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 47649

• Home prices YoY: 4.3%
• Active inventory: 5
• Price-to-rent: 9.0×

Monthly cashflow live

• Estimated rent: $1,392 medium
• Mortgage (P&I): −$787
• Tax from tax record: −$73 /mo · $876/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$292
• Net cashflow: $177

Break-even live

Break-even rent $1,167

Max offer price $150,000

Occupancy floor 82%

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: $37,500
• Closing costs: $4,500
• Reserves months: —
• Total cash needed: —

Listing history 17 events

1. 2026-06-18
   days on market $150,000 Active 37 DOM
2. 2026-06-17
   days on market $150,000 Active 36 DOM
3. 2026-06-16
   days on market $150,000 Active 35 DOM
4. 2026-06-15
   days on market $150,000 Active 34 DOM
5. 2026-06-13
   days on market $150,000 Active 32 DOM
6. 2026-06-12
   days on market $150,000 Active 31 DOM
7. 2026-06-09
   days on market $150,000 Active 28 DOM
8. 2026-06-08
   days on market $150,000 Active 27 DOM
9. 2026-06-07
   days on market $150,000 Active 26 DOM
10. 2026-06-07
    days on market $150,000 Active 25 DOM
11. 2026-06-04
    days on market $150,000 Active 22 DOM
12. 2026-06-02
    days on market $150,000 Active 21 DOM
13. 2026-06-01
    days on market $150,000 Active 20 DOM
14. 2026-05-31
    days on market $150,000 Active 19 DOM
15. 2026-05-31
    days on market $150,000 Active 18 DOM
16. 2026-05-12
    listed $150,000 Active 286-char remark
17. 2010-03-17
    soldstatus $29,900

ⓘ 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: $876 · $73/mo
• Projected year-2 tax: $1,076 · $90/mo
• Expected delta: +$200/yr (+$17/mo · 22.8%)

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

Taxation est. · year 1

• Rental income: $16,701
• − Mortgage interest: −$8,402
• − Property taxes: −$876
• − Insurance: −$750
• − Repairs & maintenance: −$1,336
• − Management: −$1,336
• − Depreciation: −$4,364
• Taxable loss: −$363
• Est. tax savings @ 24.0%: +$87
• After-tax cash flow: $2,215/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: East Gibson School Corporation
• NCES district ID: 1802940
• Math proficiency: 40% ▼ -5.00%
• Reading proficiency: 35% ▼ -6.00%
• Median HH income: $42,426
• Composite: 31.73/100
• National rank: #5908
• State rank: #171 of 301 in IN

Livability — Francisco

• Score: 63/100
• State rank: #425
• US rank: #15327

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Francisco, IN
• Population (ZIP): 1,310

Population outlook (Gibson County) Hauer SSP2

• Today (2025): 33,671 people
• By 2030: 33,409 · -0.8%
• By 2040: 32,364 · -3.9%
• By 2050: 30,453 · -9.6%
• By 2075: 24,610 · -26.9%
• By 2100: 16,217 · -51.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (94%)
• Race & ethnicity: White 94% Two or more races 2% Black 2%
• Common ancestry: Serbian 2% Italian 1% Iranian 1%
• Languages at home: 99% English-only · German/W. Germanic 1%

Political lean MEDSL · Gibson

• 2024 margin: Solid R (+51.4) · D 23.4% · R 74.8% · Other 1.8%
• 2008→2024 swing: -38.2pp toward R · 2008: -13.2pp · 2024: -51.4pp
• All cycles: 2024: R+51.4 2020: R+48.2 2016: R+47.6 2012: R+31.0 2008: R+13.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 8.42%
• Current HPI: 205.2718
• 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

+401.7% since first listed

2 events — show timeline

• 2026-05-12 Listed $150,000 IRMLS
• 2010-03-17 Sold (Public Records) $29,900 Public Records

Property tax history

-4.9%/yr

Latest (2024): $876 · -47.8% YoY. Source: county tax records.