503 N Jenkins St · Carlisle, IN 47838

$82,500

2 bd · 1.0 ba · 936 sqft · SingleFamily public records · 142 Days on market

Built 1910 5.27 ac lot $88/sqft · 84% above area

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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 +26.1/30.0
• DSCR +8.8/10.0
• ARV discount +7.5/15.0
• Appreciation +6.7/10.0
• 1% rule +5.7/10.0
• Schools +3.5/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Come and enjoy one of the biggest pieces of property in Carlisle! 5.5 +/- Acres of Property and a home that is move-in ready and totally remodeled. Lots and lots of possibilities as the majority of the property is outside of the city limits. Access to all utilities through the city lot. Tiny homes, RV's, campground, and so much more. The current home has been totally remodeled with new HVAC, new furnace, new water heater, new drywall, new wiring, and other upgrades. There has been a survey done on the property. Buy a home, buy land, invest in your future!

Key facts

• New drywall
• New furnace
• Totally remodeled

Tags

• 5.5 ACRES OF PROPERTY
• TOTALLY REMODELED
• NEW HVAC
• NEW FURNACE
• NEW WATER HEATER
• NEW DRYWALL

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $82k.

Deal economics

• At list price, monthly cash flow is $208 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($880 rent vs $82k).
• Recommended offer: $73k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 64/100 on livability (#397 in IN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: schools D+, crime D+, employment D+.
• Southwest School Corporation (rural): math 40% / reading 42% proficiency, ranked #137 of 301 in IN (top 46%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 13 active listings in the ZIP; 4 units permitted in Sullivan County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $3k of equity ($570 loan paydown + $3k appreciation (3.3% local appreciation)).
• Sullivan County population projected at -12% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (3.3% appreciation + 3.0% rent growth), your $23k cash investment doubles in ~4 years — after that, you're playing with house money.
• By year 10, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 142 days — a 12% lower offer ($73k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 3y ago; this cycle's ask has dropped $38k (31%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1910 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $72,600 (12.0% below list)

Questions for the listing agent

1. It's been on market 142 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1910 — 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: 1.07% ✓
• Cap rate: 9.31%
• Cash-on-cash: 10.78%
• DSCR: 1.48
• GRM: 7.8

CMA / ARV

• ARV (median comp): $44,794
• List price: $82,500
• Delta: 84.18%
• Verdict: OVERPRICED
• Comps: 2 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
307 N Alexander St	0.26mi	3/1.0 (+1)	1,012 (+8%)	1mo	$75,000	$74	68

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

3.3% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 18.3%
• Equity multiple: 2.06×
• Total profit: $24,454
• Equity at exit: $38,512

10-year hold

• IRR: 19.4%
• Equity multiple: 3.89×
• Total profit: $66,855
• Equity at exit: $60,477

Cash invested: $23,100 (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 47838

• Home prices YoY: 1.9%
• Active inventory: 13
• Price-to-rent: 7.8×

Monthly cashflow live

• Estimated rent: $880 medium
• Mortgage (P&I): −$433
• Tax from tax record: −$21 /mo · $247/yr
• Insurance: −$34
• HOA: −$0
• Vacancy / Maint / Mgmt: −$185
• Net cashflow: $208

Break-even live

Break-even rent $617

Max offer price $82,500

Occupancy floor 71%

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: $20,625
• Closing costs: $2,475
• Reserves months: —
• Total cash needed: —

Listing history 17 events

1. 2026-06-18
   days on market $82,500 Active 142 DOM
2. 2026-06-17
   days on market $82,500 Active 141 DOM
3. 2026-06-16
   days on market $82,500 Active 140 DOM
4. 2026-06-15
   days on market $82,500 Active 139 DOM
5. 2026-06-13
   days on market $82,500 Active 137 DOM
6. 2026-06-12
   days on market $82,500 Active 136 DOM
7. 2026-06-09
   days on market $82,500 Active 133 DOM
8. 2026-06-08
   days on market $82,500 Active 132 DOM
9. 2026-06-07
   days on market $82,500 Active 131 DOM
10. 2026-06-07
    statusdays on market $82,500 Active 130 DOM
11. 2026-05-18
    status Pending 561-char remark

    Show marketing remark (561 chars)

    Come and enjoy one of the biggest pieces of property in Carlisle! 5.5 +/- Acres of Property and a home that is move-in ready and totally remodeled. Lots and lots of possibilities as the majority of the property is outside of the city limits. Access to all utilities through the city lot. Tiny homes, RV's, campground, and so much more. The current home has been totally remodeled with new HVAC, new furnace, new water heater, new drywall, new wiring, and other upgrades. There has been a survey done on the property. Buy a home, buy land, invest in your future!

12. 2026-04-07
    price $82,500 561-char remark

    Show marketing remark (561 chars)

    Come and enjoy one of the biggest pieces of property in Carlisle! 5.5 +/- Acres of Property and a home that is move-in ready and totally remodeled. Lots and lots of possibilities as the majority of the property is outside of the city limits. Access to all utilities through the city lot. Tiny homes, RV's, campground, and so much more. The current home has been totally remodeled with new HVAC, new furnace, new water heater, new drywall, new wiring, and other upgrades. There has been a survey done on the property. Buy a home, buy land, invest in your future!

13. 2026-03-26
    price $95,000 561-char remark

    Show marketing remark (561 chars)

    Come and enjoy one of the biggest pieces of property in Carlisle! 5.5 +/- Acres of Property and a home that is move-in ready and totally remodeled. Lots and lots of possibilities as the majority of the property is outside of the city limits. Access to all utilities through the city lot. Tiny homes, RV's, campground, and so much more. The current home has been totally remodeled with new HVAC, new furnace, new water heater, new drywall, new wiring, and other upgrades. There has been a survey done on the property. Buy a home, buy land, invest in your future!

14. 2026-03-16
    price $105,000 561-char remark

    Show marketing remark (561 chars)

    Come and enjoy one of the biggest pieces of property in Carlisle! 5.5 +/- Acres of Property and a home that is move-in ready and totally remodeled. Lots and lots of possibilities as the majority of the property is outside of the city limits. Access to all utilities through the city lot. Tiny homes, RV's, campground, and so much more. The current home has been totally remodeled with new HVAC, new furnace, new water heater, new drywall, new wiring, and other upgrades. There has been a survey done on the property. Buy a home, buy land, invest in your future!

15. 2026-01-09
    listed $120,000 Active 561-char remark

    Show marketing remark (561 chars)

    Come and enjoy one of the biggest pieces of property in Carlisle! 5.5 +/- Acres of Property and a home that is move-in ready and totally remodeled. Lots and lots of possibilities as the majority of the property is outside of the city limits. Access to all utilities through the city lot. Tiny homes, RV's, campground, and so much more. The current home has been totally remodeled with new HVAC, new furnace, new water heater, new drywall, new wiring, and other upgrades. There has been a survey done on the property. Buy a home, buy land, invest in your future!

16. 2023-09-11
    status Pending
17. 2023-09-08
    listed $34,900 Active

ⓘ 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: $247 · $21/mo
• Projected year-2 tax: $474 · $40/mo
• Expected delta: +$227/yr (+$19/mo · 91.9%)

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

Climate risk First Street

• 🌊 Flood 1/10 Low 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 4/10 Moderate 7 d/yr ≥105°F today · 19 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 2% 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: $10,560
• − Mortgage interest: −$4,621
• − Property taxes: −$247
• − Insurance: −$412
• − Repairs & maintenance: −$845
• − Management: −$845
• − Depreciation: −$2,400
• Taxable income: $1,189
• Est. tax owed @ 24.0%: −$285
• After-tax cash flow: $2,206/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: Southwest School Corporation
• NCES district ID: 1810860
• Math proficiency: 40% ▼ -10.00%
• Reading proficiency: 42% ▼ -9.00%
• Median HH income: $43,624
• Composite: 34.71/100
• National rank: #5136
• State rank: #137 of 301 in IN

Livability — Carlisle

• Score: 64/100
• State rank: #397
• US rank: #14615

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Carlisle, IN
• Population (ZIP): 3,952

Population outlook (Sullivan County) Hauer SSP2

• Today (2025): 20,313 people
• By 2030: 19,908 · -2.0%
• By 2040: 19,009 · -6.4%
• By 2050: 17,972 · -11.5%
• By 2075: 14,929 · -26.5%
• By 2100: 11,391 · -43.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (73%)
• Race & ethnicity: White 73% Black 15% Two or more races 8% Hispanic / Latino 3%
• Common ancestry: Slovak 2% Lithuanian 1% British 1%
• Foreign-born: 1% · Canada
• Languages at home: 96% English-only · Spanish 1%

Political lean MEDSL · Sullivan

• 2024 margin: Solid R (+52.7) · D 22.8% · R 75.5% · Other 1.7%
• 2008→2024 swing: -52.0pp toward R · 2008: -0.7pp · 2024: -52.7pp
• All cycles: 2024: R+52.7 2020: R+50.5 2016: R+47.0 2012: R+20.6 2008: R+0.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 3.30%
• Current HPI: 179.2112
• 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

+136.4% since first listed

7 events — show timeline

• 2026-05-18 Pending — IRMLS
• 2026-04-07 Price Changed $82,500 IRMLS
• 2026-03-26 Price Changed $95,000 IRMLS
• 2026-03-16 Price Changed $105,000 IRMLS
• 2026-01-09 Listed $120,000 IRMLS
• 2023-09-11 Pending — THAAR
• 2023-09-08 Listed $34,900 THAAR