592 Dillman Rd · Williams, IN 47470

$80,000

3 bd · 1.5 ba · 1,482 sqft · SingleFamily public records · 27 Days on market

Built 1980 10 ac lot $54/sqft · 46% below area Est $147k · 46% under

---

Why this score? — see what drove the A- 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
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• Appreciation +9.2/10.0
• 1% rule +8.9/10.0
• Schools +3.2/10.0
• Livability +2.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

EXPANSIVE. BUILDABLE. OPPORTUNITY. This THREE bedroom, 1.5 bathroom home sits on 10 partially wooded acres, offering a unique opportunity for investors or buyers ready to bring their vision to life. The home is currently down to the shell with all interior walls removed, providing a blank slate for a full renovation, custom redesign, or rebuild. Whether you’re looking for your next flip project or a place to create your dream home from the ground up, this property offers incredible potential. The acreage features a mix of open space and wooded areas, creating a peaceful setting with room to expand, build, or enjoy the outdoors. With 10 acres of land and a blank slate to work with, thi

Key facts

• Open space
• Acreage features
• Custom redesign

Tags

• BUILDABLE OPPORTUNITY
• PARTIALLY WOODED ACRES
• FULL RENOVATION
• CUSTOM REDESIGN
• ACREAGE FEATURES
• OPEN SPACE

Property features AI

Finance

• Other: No additional financial amenities provided
• Financial info: Financial details not provided
• HOA & community: HOA/community details not provided

Exterior

• Parking: Gravel parking
• Security: Security details not provided
• Utilities: Public water; Septic tank sewer
• Home design: Single-family residence, site-built; One story
• Construction: Brick and wood siding exterior; Shingle roof; Built structure details: above-grade finished living area listed (measurement not included here)
• Exterior features: Irregular lot; 10-acre lot

Interior

• Kitchen: Kitchen details not provided
• Bedrooms: Details not provided
• Flooring: Flooring details not provided
• Bathrooms: One full bathroom; One half bathroom; Two main level bathrooms
• Heating & cooling: Wood stove heating; No central cooling
• Interior features: Wood-burning stove in the living room; One fireplace; Crawl space basement; Total of 7 rooms
• Laundry & utility: Laundry/utility details not provided

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $80k.

Deal economics

• At list price, monthly cash flow is $384 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $80k).
• Recommended offer: $79k (1.5% below list) — sets the bar for market timing.

Location & tenants

• Location reads 56/100 on livability (#623 in IN) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, crime A, housing B; Watch: amenities F, commute F, employment F.
• North Lawrence Community Schools (rural): math 35% / reading 40% proficiency, ranked #170 of 301 in IN (top 56%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Parkview Elementary School (math 44% / reading 39%, grade F, #478 of 994 statewide, top 49%, 513 students, 63% FRL); Bedford Middle School (math 23% / reading 36%, grade F, #212 of 330 statewide, top 67%, 562 students, 54% FRL); Bedford-North Lawrence High School (math 38% / reading 63%, grade D+, #117 of 369 statewide, top 32%, 1,303 students, 46% FRL).
• Market conditions: 7 active listings in the ZIP; 8 units permitted in Lawrence County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $7k of equity ($553 loan paydown + $7k appreciation (8.4% local appreciation)).
• Lawrence County population projected at -14% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (8.4% appreciation + 3.0% rent growth), your $22k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 5, paydown + projected appreciation supports a ~$33k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 27 days — a 2% lower offer ($79k) is reasonable based on typical stale-listing flexibility.

Recommended offer $78,800 (1.5% below list)

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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.
3. 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.
4. 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: 1.39% ✓
• Cap rate: 12.05%
• Cash-on-cash: 20.56%
• DSCR: 1.91
• GRM: 6.0

CMA / ARV

• ARV (median comp): $147,000
• List price: $80,000
• Delta: -45.58%
• Verdict: UNDERPRICED
• Comps: 2 within 1.0 mi

Projected returns pro-forma

8.37% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 36.8%
• Equity multiple: 3.65×
• Total profit: $59,296
• Equity at exit: $62,815

10-year hold

• IRR: 32.6%
• Equity multiple: 7.87×
• Total profit: $153,958
• Equity at exit: $126,682

Cash invested: $22,400 (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 47470

• Home prices YoY: 3.5%
• Active inventory: 7
• Price-to-rent: 6.0×

Monthly cashflow live

• Estimated rent: $1,111 medium
• Mortgage (P&I): −$420
• Tax from tax record: −$41 /mo · $492/yr
• Insurance: −$33
• HOA: −$0
• Vacancy / Maint / Mgmt: −$233
• Net cashflow: $384

Break-even live

Break-even rent $625

Max offer price $80,000

Occupancy floor 60%

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: $20,000
• Closing costs: $2,400
• Reserves months: —
• Total cash needed: —

Listing history 1 events

1. 2026-04-23
   listed $80,000 Active 771-char remark

ⓘ 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: $492 · $41/mo
• Projected year-2 tax: $586 · $49/mo
• Expected delta: +$94/yr (+$8/mo · 19.0%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 3/10 Moderate 7 d/yr ≥104°F today · 18 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: $13,332
• − Mortgage interest: −$4,481
• − Property taxes: −$492
• − Insurance: −$400
• − Repairs & maintenance: −$1,067
• − Management: −$1,067
• − Depreciation: −$2,327
• Taxable income: $3,498
• Est. tax owed @ 24.0%: −$840
• After-tax cash flow: $3,766/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: North Lawrence Community Schools
• NCES district ID: 1807860
• Math proficiency: 35% ▼ -2.00%
• Reading proficiency: 40% ▼ -3.00%
• Median HH income: $44,566
• Composite: 31.88/100
• National rank: #5864
• State rank: #170 of 301 in IN

Livability — Williams

• Score: 56/100
• State rank: #623
• US rank: #23002

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• City population: 1,441
• Population (ZIP): 1,441

Population outlook (Lawrence County) Hauer SSP2

• Today (2025): 44,347 people
• By 2030: 43,331 · -2.3%
• By 2040: 40,887 · -7.8%
• By 2050: 38,297 · -13.6%
• By 2075: 32,479 · -26.8%
• By 2100: 26,051 · -41.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (98%)
• Race & ethnicity: White 98% Hispanic / Latino 2% Two or more races 2%
• Common ancestry: Scottish 2% Slovak 2% Italian 1%

Political lean MEDSL · Lawrence

• 2024 margin: Solid R (+51.0) · D 23.6% · R 74.6% · Other 1.7%
• 2008→2024 swing: -30.5pp toward R · 2008: -20.6pp · 2024: -51.0pp
• All cycles: 2024: R+51.0 2020: R+50.6 2016: R+51.5 2012: R+32.8 2008: R+20.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 8.37%
• Current HPI: 246.9346
• 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

2 events — show timeline

• 2026-05-20 Pending — IRMLS
• 2026-04-23 Listed $80,000 IRMLS

Property tax history

-5.9%/yr

Latest (2025): $492 · -4.6% YoY. Source: county tax records.