KINGSTON Plan

Utica, IN 47130

$319,990F

4 bd · 2.5 ba · 2,376 sqft · Built — · SingleFamily · Active · 72 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,196/mo
• Mortgage (P&I): −$3,276
• Tax + insurance: −$1,108
• HOA: −$0
• Vac / Maint / Mgmt: −$461
• Net cashflow: $-2,649/mo
• Annual: $-31,792/yr
• Cap rate: 1.33%
• Cash-on-cash: -17.72%
• DSCR: 0.21
• 1% rule: 0.35%
• Cash to close: $174,942

Investor read

• This is a 4-bed/2.5-bath single-family listed at $320k. Condition is rated excellent.
• At list price, monthly cash flow is $-3k ($-32k/yr) — negative.
• To cash-flow at today's rent, offer at most $241k (24.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $220k (31.4% below list).
• It's been on market 72 days — a 6% lower offer ($301k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $220k (31.4% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $4k of loan paydown is wiped out by about $19k of value loss. Plan a longer hold.
• Location reads 63/100 on livability (#436 in IN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: amenities F, commute F, health & safety F.
• Greater Clark County Schools (suburban): math 26% / reading 37% proficiency, ranked #224 of 301 in IN (top 74%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Utica Elementary School (math 60% / reading 56%, grade C+, #160 of 994 statewide, top 17%, 525 students, 30% FRL); Parkview Middle School (math 22% / reading 34%, grade F, #226 of 330 statewide, top 69%, 713 students, 63% FRL); Jeffersonville High School (math 17% / reading 52%, grade F, #270 of 369 statewide, top 77%, 2,130 students, 58% FRL) — zoned schools at 50% FRL track the district average.
• Watch-outs: property tax is 2.9% of price; flood insurance adds $66/mo.
• Market conditions: Rents flat; 623 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 911 units permitted in Clark County in 2024 (133 in 5+ unit buildings).
• Clark County population projected at +17% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• Climate carrying-cost: severe flood risk; extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• This rent runs 37% of the median local income ($70k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Questions for listing agent

• What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
• It's been on market 72 days. Have you received any prior offers? Is the seller open to a 31% concession, seller financing, or rate buy-down credit?
• Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
• What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?