912 Buckeye St · North Vernon, IN 47265

$115,000

3 bd · 1.0 ba · 1,428 sqft · SingleFamily public records · 85 Days on market

Built 1960 7,601 sqft lot $81/sqft · 20% below area Est $143k · 20% under

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Why this score? — see what drove the C- 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 +15.0/30.0
• ARV discount +15.0/15.0
• DSCR +4.6/10.0
• Livability +4.0/5.0
• 1% rule +3.6/10.0
• Schools +3.0/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Investor special! This property offers strong bones and tons of potential for the right buyer. Seller has never occupied the property and has no firsthand knowledge of its condition. Property is being sold as-is. All information, including but not limited to square footage, lot size, utilities, and condition, to be independently verified by buyer and buyer’s agent. No warranties expressed or implied.

Key facts

• 7,601 sq ft lot
• Built 1960
• Listed 84 days

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $115k.

Deal economics

• At list price, monthly cash flow is $36 ($428/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 $99k (14.0% below list).
• Recommended offer: $99k (14.0% below list) — sets the bar for 1% rule.
• Cap rate 6.7% vs local median 4.1% in North Vernon — 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 79/100 on livability (#29 in IN, #2,347 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: amenities D, schools D-, commute F.
• Jennings County School Corporation (rural): math 32% / reading 38% proficiency, ranked #194 of 301 in IN (top 64%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 160 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; 84 units permitted in Jennings County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $795 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Jennings County population projected at -21% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 85 days — a 6% lower offer ($108k) is reasonable based on typical stale-listing flexibility.

Recommended offer $98,873 (14.0% below list)

Questions for the listing agent

1. It's been on market 85 days. Have you received any prior offers? Is the seller open to a 14% concession, seller financing, or rate buy-down credit?
2. Built in 1960 — 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. 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.
7. 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.
8. 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: 0.86% ✗
• Cap rate: 6.67%
• Cash-on-cash: 1.33%
• DSCR: 1.06
• GRM: 9.7

CMA / ARV

• ARV (median comp): $143,074
• List price: $115,000
• Delta: -19.62%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
243 Pennsylvania (lot #54) Ave	0.31mi	3/2.0	1,512 (+6%)	12mo	$284,900	$188	62
253 Pennsylvania (lot #53) Ave	0.31mi	3/2.0	1,542 (+8%)	11mo	$294,900	$191	59
196 Pennsylvania (lot #16) Ave	0.31mi	3/2.0	1,542 (+8%)	12mo	$304,900	$198	58
526 Hoosier St	0.29mi	3/1.0	1,285 (-10%)	14mo	$115,000	$89	58
321 S Elm St	0.54mi	3/2.5	1,443 (+1%)	14mo	$208,000	$144	55
26 David Dr	0.58mi	2/1.0 (-1)	1,378 (-4%)	11mo	$165,000	$120	53
409 S State St	0.49mi	3/2.5	1,575 (+10%)	8mo	$234,000	$149	48
24 David Dr	0.59mi	3/1.0	1,259 (-12%)	10mo	$163,815	$130	44
742 S State St	0.56mi	2/1.0 (-1)	1,543 (+8%)	18mo	$117,500	$76	40
404 Pleasant Dr	0.73mi	3/2.0	1,232 (-14%)	2mo	$232,500	$189	38
524 S Elm St	0.58mi	3/2.0	1,252 (-12%)	16mo	$215,000	$172	35
454 S Elm St	0.55mi	2/1.0 (-1)	1,236 (-13%)	17mo	$170,000	$138	33

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: -14.2%
• Equity multiple: 0.49×
• Total profit: $-16,377
• Equity at exit: $17,147

10-year hold

• IRR: -5.4%
• Equity multiple: 0.65×
• Total profit: $-11,396
• Equity at exit: $9,943

Cash invested: $32,200 (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 47265

• Home prices YoY: -31.5%
• Active inventory: 160
• Price-to-rent: 9.7×

Monthly cashflow live

• Estimated rent: $989 medium
• Mortgage (P&I): −$603
• Tax from tax record: −$94 /mo · $1,133/yr
• Insurance: −$48
• HOA: −$0
• Vacancy / Maint / Mgmt: −$208
• Net cashflow: $36

Break-even live

Break-even rent $944

Max offer price $115,000

Occupancy floor 91%

Sensitivity live

Price	-10% $101	-5% $68	+0% $36	+5% $3	+10% $-29
Rent	-10% $-42	-5% $-3	+0% $36	+5% $75	+10% $114
Rate	-1.0pp $94	-0.5pp $65	base $36	+0.5pp $6	+1.0pp $-24

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: $28,750
• Closing costs: $3,450
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
206 N 7th St North Vernon, IN	2.0	1.0	1248	$950	$0.76	44d	1	0.19mi
1450 Oak Meadows Dr North Vernon, IN	2.0–3.0	1.0–2.0	872	$975	$1.12	44d	1	1.02mi
2985 N State St North Vernon, IN	2.0	1.0	1055	$1,350	$1.28	44d	1	1.41mi

Listing history 16 events

1. 2026-06-19
   days on market $115,000 Active 85 DOM
2. 2026-06-18
   days on market $115,000 Active 84 DOM
3. 2026-06-17
   days on market $115,000 Active 83 DOM
4. 2026-06-16
   days on market $115,000 Active 82 DOM
5. 2026-06-15
   days on market $115,000 Active 81 DOM
6. 2026-06-14
   days on market $115,000 Active 79 DOM
7. 2026-06-12
   days on market $115,000 Active 78 DOM
8. 2026-06-09
   days on market $115,000 Active 75 DOM
9. 2026-06-08
   days on market $115,000 Active 74 DOM
10. 2026-06-07
    remarks 494-char remark
11. 2026-06-07
    days on market $115,000 Active 73 DOM
12. 2026-06-02
    days on market $115,000 Active 68 DOM
13. 2026-06-01
    days on market $115,000 Active 67 DOM
14. 2026-05-31
    days on market $115,000 Active 66 DOM
15. 2026-05-30
    days on market $115,000 Active 65 DOM
16. 2026-03-26
    listed $115,000 Active 409-char remark

    Show marketing remark (409 chars)

    Investor special! This property offers strong bones and tons of potential for the right buyer. Seller has never occupied the property and has no firsthand knowledge of its condition. Property is being sold as-is. All information, including but not limited to square footage, lot size, utilities, and condition, to be independently verified by buyer and buyer’s agent. No warranties expressed or implied.

ⓘ 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: $1,133 · $94/mo
• Projected year-2 tax: $1,133 · $94/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 4/10 Moderate 7 d/yr ≥105°F today · 20 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $11,865
• − Mortgage interest: −$6,442
• − Property taxes: −$1,133
• − Insurance: −$575
• − Repairs & maintenance: −$949
• − Management: −$949
• − Depreciation: −$3,345
• Taxable loss: −$1,529
• Est. tax savings @ 24.0%: +$367
• After-tax cash flow: $795/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: Jennings County School Corporation
• NCES district ID: 1805190
• Math proficiency: 32% ▼ -11.00%
• Reading proficiency: 38% ▼ -6.00%
• Median HH income: $45,418
• Composite: 29.89/100
• National rank: #6394
• State rank: #194 of 301 in IN

Livability — North Vernon

• Score: 79/100
• State rank: #29
• US rank: #2347

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: North Vernon, IN
• City population: 20,981
• Population (ZIP): 20,981

Population outlook (Jennings County) Hauer SSP2

• Today (2025): 26,584 people
• By 2030: 25,591 · -3.7%
• By 2040: 23,423 · -11.9%
• By 2050: 20,973 · -21.1%
• By 2075: 15,445 · -41.9%
• By 2100: 10,714 · -59.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (92%)
• Race & ethnicity: White 92% Hispanic / Latino 4% Two or more races 3%
• Common ancestry: Slovak 2% Romanian 1% Italian 1%
• Foreign-born: 1% · Canada
• Languages at home: 96% English-only · Spanish 2% German/W. Germanic 1%

Political lean MEDSL · Jennings

• 2024 margin: Solid R (+58.8) · D 19.7% · R 78.5% · Other 1.8%
• 2008→2024 swing: -50.8pp toward R · 2008: -8.0pp · 2024: -58.8pp
• All cycles: 2024: R+58.8 2020: R+56.9 2016: R+52.7 2012: R+22.4 2008: R+8.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -107.36%
• Current HPI: 233.0275
• 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

1 event — show timeline

• 2026-03-26 Listed $115,000 SIRA

Property tax history

+10.6%/yr

Latest (2024): $1,133 · +13.3% YoY. Source: county tax records.