1014 N Sterling Ave · Veedersburg, IN 47987

$114,900

2 bd · 1.0 ba · 744 sqft · SingleFamily public records · 15 Days on market

Built 1949 0.40 ac lot $154/sqft · 48% above area Est $145k · 21% under

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Why this score? — see what drove the D+ 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).

• ARV discount +15.0/15.0
• Appreciation +10.0/10.0
• Cash flow +8.5/30.0
• Schools +3.3/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• DSCR +2.3/10.0
• 1% rule +1.6/10.0

Listing remarks

Adorable block home featuring a striking red roof and a spacious yard. This home offers 2 bedrooms, with one bedroom lacking a closet but easily accommodating a portable closet or dresser. The charming arched doorways add character throughout the home, as does the hardwood flooring in the kitchen. The full basement provides ample storage space. The oversized 2-car garage provides a great workshop area. Located just north of a year-round restaurant and not far from the I-74 exit.

Key facts

• Spacious yard
• Hardwood flooring
• Workshop area

Tags

• SPACIOUS YARD
• ARCHED DOORWAYS
• HARDWOOD FLOORING
• FULL BASEMENT
• WORKSHOP AREA

Property features AI

Exterior

• Parking: Detached 2-car garage (approx. 572 sq ft)
• Utilities: Public water; Municipal sewer connected; No solid waste service listed
• Home design: Single family residence; One story
• Construction: Block foundation; Block construction
• Exterior features: Corner lot; Mature trees; 0.4-acre lot

Interior

• Kitchen: Electric oven; Refrigerator; Eat-in kitchen
• Bedrooms: 2 bedrooms (both on the main level)
• Flooring: Hardwood floors
• Bathrooms: 1 full bathroom (main level)
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: Hardwood floors; Eat-in kitchen
• Laundry & utility: Laundry located in basement; Gas water heater

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $115k.

Deal economics

• At list price, monthly cash flow is $-102 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $97k (15.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $75k (34.5% below list).
• Recommended offer: $75k (34.5% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 64/100 on livability (#395 in IN) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: schools D-, amenities F, commute F.
• Southeast Fountain School Corporation (rural): math 34% / reading 43% proficiency, ranked #163 of 301 in IN (top 54%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 21 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 19 units permitted in Fountain County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $12k of equity ($794 loan paydown + $11k appreciation (10.0% local appreciation)).
• Fountain County population projected at -22% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• By year 3, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 15 days — a 2% lower offer ($113k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1949 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $75,285 (34.5% below list)

Questions for the listing agent

1. 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?
2. Built in 1949 — 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. 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?
5. 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?
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: 0.66% ✗
• Cap rate: 5.23%
• Cash-on-cash: -3.79%
• DSCR: 0.83
• GRM: 12.7

CMA / ARV

• ARV (median comp): $145,341
• List price: $114,900
• Delta: -20.94%
• Verdict: UNDERPRICED
• Comps: 9 within 1.0 mi

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 21.6%
• Equity multiple: 2.74×
• Total profit: $56,056
• Equity at exit: $103,511

10-year hold

• IRR: 19.4%
• Equity multiple: 6.29×
• Total profit: $170,070
• Equity at exit: $223,225

Cash invested: $32,172 (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 47987

• Home prices YoY: 4.8%
• Active inventory: 21
• Price-to-rent: 12.7×

Monthly cashflow live

• Estimated rent: $753 medium
• Mortgage (P&I): −$603
• Tax from tax record: −$46 /mo · $551/yr
• Insurance: −$48
• HOA: −$0
• Vacancy / Maint / Mgmt: −$158
• Net cashflow: $-102

Break-even live

Break-even rent $881

Max offer price $96,947

Occupancy floor —

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: $28,725
• Closing costs: $3,447
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
414 W Harrison St Apt 18 Veedersburg, IN	1.0	1.0	600	$699	$1.17	43d	1	1.25mi
414 W Harrison St Apt 10 Veedersburg, IN	2.0	1.0	700	$799	$1.14	20d	1	1.25mi

Listing history 1 events

1. 2026-05-14
   listed $114,900 Active 485-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: $551 · $46/mo
• Projected year-2 tax: $764 · $64/mo
• Expected delta: +$213/yr (+$18/mo · 38.5%)

ⓘ 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 3/10 Moderate 7 d/yr ≥102°F today · 18 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $9,034
• − Mortgage interest: −$6,436
• − Property taxes: −$551
• − Insurance: −$574
• − Repairs & maintenance: −$723
• − Management: −$723
• − Depreciation: −$3,343
• Taxable loss: −$3,316
• Est. tax savings @ 24.0%: +$796
• After-tax cash flow: $-424/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: Southeast Fountain School Corporation
• NCES district ID: 1810620
• Math proficiency: 34% ▼ -8.00%
• Reading proficiency: 43% ▼ -5.00%
• Median HH income: $44,911
• Composite: 32.73/100
• National rank: #5640
• State rank: #163 of 301 in IN

Livability — Veedersburg

• Score: 64/100
• State rank: #395
• US rank: #14573

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Veedersburg, IN
• Population (ZIP): 3,705

Population outlook (Fountain County) Hauer SSP2

• Today (2025): 15,481 people
• By 2030: 14,841 · -4.1%
• By 2040: 13,505 · -12.8%
• By 2050: 12,149 · -21.5%
• By 2075: 9,214 · -40.5%
• By 2100: 6,463 · -58.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (95%)
• Race & ethnicity: White 95% Hispanic / Latino 3% Two or more races 3%
• Common ancestry: Romanian 2% Lithuanian 2% Slovak 1%
• Foreign-born: 1% · Canada
• Languages at home: 99% English-only · Spanish 1%

Political lean MEDSL · Fountain

• 2024 margin: Solid R (+60.0) · D 19.1% · R 79.1% · Other 1.8%
• 2008→2024 swing: -45.6pp toward R · 2008: -14.4pp · 2024: -60.0pp
• All cycles: 2024: R+60.0 2020: R+56.7 2016: R+56.0 2012: R+34.2 2008: R+14.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 10.85%
• Current HPI: 235.6913
• 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

• 2026-05-29 Pending — MIBOR as Distributed by MLS Grid
• 2026-05-14 Listed $114,900 MIBOR as Distributed by MLS Grid

Property tax history

+6.7%/yr

Latest (2024): $551 · +2.0% YoY. Source: county tax records.