806 E Summit St · Attica, IN 47918

$29,900

2 bd · 1.0 ba · 1,160 sqft · SingleFamily public records · 90 Days on market

Built 1880 7,070 sqft lot $26/sqft · 79% below 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Livability +3.5/5.0
• Schools +2.8/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Investor special, this home is in need of a full renovation. Priced to sell, a great location for a rental, plenty of upside potential.

Key facts

• 7,070 sq ft lot
• Built 1880
• Listed 89 days

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $30k.

Deal economics

• At list price, monthly cash flow is $599 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $30k).
• Recommended offer: $28k (6.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 69/100 on livability (#195 in IN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A; Watch: schools D, amenities F, commute F.
• Attica Consolidated School Corporation (town): math 30% / reading 35% proficiency, ranked #217 of 301 in IN (top 72%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 22 active listings in the ZIP; 19 units permitted in Fountain County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $207 of loan paydown is wiped out by about $897 of value loss. Plan a longer hold.
• Fountain County population projected at -22% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $8k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 90 days — a 6% lower offer ($28k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $20k; list at $30k implies a 50% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1880 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $28,106 (6.0% below list)

Questions for the listing agent

1. It's been on market 90 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1880 — 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: 3.37% ✓
• Cap rate: 30.33%
• Cash-on-cash: 85.86%
• DSCR: 4.82
• GRM: 2.5

CMA / ARV

• ARV (median comp): $143,597
• List price: $29,900
• Delta: -79.18%
• 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
505 N Fifth St	0.21mi	2/1.0	1,216 (+5%)	8mo	$69,000	$57	75
204 N West St	0.23mi	2/1.0	1,122 (-3%)	11mo	$145,000	$129	75
600 N 6th St	0.18mi	3/2.0 (+1)	1,175 (+1%)	11mo	$137,500	$117	71
407 N. 5th Street St	0.22mi	3/2.0 (+1)	1,154 (-0%)	12mo	$150,000	$130	70
301 E Bond St	0.69mi	2/1.0	1,152 (-1%)	4mo	$152,200	$132	63
602 S Brady St	0.60mi	3/1.0 (+1)	1,098 (-5%)	2mo	$128,000	$117	57
106 David Dr	0.49mi	3/1.0 (+1)	1,125 (-3%)	15mo	$179,900	$160	54
803 North St	0.23mi	3/1.0 (+1)	1,296 (+12%)	13mo	$200,000	$154	54
671 E Bethel Rd	0.58mi	2/2.0	1,083 (-7%)	10mo	$237,000	$219	49
803 S Brady St	0.74mi	3/1.5 (+1)	1,160 (0%)	11mo	$160,000	$138	49
424 E Main St	0.22mi	3/2.5 (+1)	1,302 (+12%)	14mo	$238,000	$183	47
304 E New St	0.59mi	2/1.5	1,324 (+14%)	3mo	$145,000	$110	45

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: 86.3%
• Equity multiple: 4.98×
• Total profit: $33,314
• Equity at exit: $4,458

10-year hold

• IRR: 89.5%
• Equity multiple: 10.34×
• Total profit: $78,171
• Equity at exit: $2,585

Cash invested: $8,372 (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 47918

• Home prices YoY: -13.4%
• Active inventory: 22
• Price-to-rent: 2.5×

Monthly cashflow live

• Estimated rent: $1,007 medium
• Mortgage (P&I): −$157
• Tax from tax record: −$27 /mo · $328/yr
• Insurance: −$12
• HOA: −$0
• Vacancy / Maint / Mgmt: −$211
• Net cashflow: $599

Break-even live

Break-even rent $249

Max offer price $29,900

Occupancy floor 36%

Sensitivity live

Price	-10% $616	-5% $607	+0% $599	+5% $591	+10% $582
Rent	-10% $519	-5% $559	+0% $599	+5% $639	+10% $679
Rate	-1.0pp $614	-0.5pp $607	base $599	+0.5pp $591	+1.0pp $583

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: $7,475
• Closing costs: $897
• Reserves months: —
• Total cash needed: —

Listing history 21 events

1. 2026-06-19
   days on market $29,900 Active 90 DOM
2. 2026-06-18
   days on market $29,900 Active 89 DOM
3. 2026-06-17
   days on market $29,900 Active 88 DOM
4. 2026-06-16
   days on market $29,900 Active 87 DOM
5. 2026-06-15
   days on market $29,900 Active 86 DOM
6. 2026-06-14
   days on market $29,900 Active 84 DOM
7. 2026-06-13
   days on market $29,900 Active 83 DOM
8. 2026-06-10
   days on market $29,900 Active 81 DOM
9. 2026-06-09
   days on market $29,900 Active 80 DOM
10. 2026-06-08
    days on market $29,900 Active 79 DOM
11. 2026-06-07
    days on market $29,900 Active 78 DOM
12. 2026-06-05
    days on market $29,900 Active 75 DOM
13. 2026-06-03
    days on market $29,900 Active 74 DOM
14. 2026-06-02
    days on market $29,900 Active 73 DOM
15. 2026-06-01
    days on market $29,900 Active 72 DOM
16. 2026-05-31
    days on market $29,900 Active 71 DOM
17. 2026-05-30
    days on market $29,900 Active 70 DOM
18. 2026-05-01
    price $29,900 135-char remark

    Show marketing remark (135 chars)

    Investor special, this home is in need of a full renovation. Priced to sell, a great location for a rental, plenty of upside potential.

19. 2026-03-26
    price $39,999 135-char remark

    Show marketing remark (135 chars)

    Investor special, this home is in need of a full renovation. Priced to sell, a great location for a rental, plenty of upside potential.

20. 2026-03-21
    listed $45,000 Active 135-char remark

    Show marketing remark (135 chars)

    Investor special, this home is in need of a full renovation. Priced to sell, a great location for a rental, plenty of upside potential.

21. 2021-12-07
    soldstatus $19,900

ⓘ 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: $328 · $27/mo
• Projected year-2 tax: $328 · $27/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 3/10 Moderate 7 d/yr ≥102°F today · 18 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 3/10 Moderate 1 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $12,085
• − Mortgage interest: −$1,675
• − Property taxes: −$328
• − Insurance: −$150
• − Repairs & maintenance: −$967
• − Management: −$967
• − Depreciation: −$870
• Taxable income: $7,129
• Est. tax owed @ 24.0%: −$1,711
• After-tax cash flow: $5,477/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: Attica Consolidated School Corporation
• NCES district ID: 1800210
• Math proficiency: 30% ▼ -14.00%
• Reading proficiency: 35% ▼ -13.00%
• Median HH income: $42,799
• Composite: 27.58/100
• National rank: #6938
• State rank: #217 of 301 in IN

Livability — Attica

• Score: 69/100
• State rank: #195
• US rank: #8825

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Attica, IN
• Population (ZIP): 5,159

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 (94%)
• Race & ethnicity: White 94% Hispanic / Latino 3% Two or more races 3%
• Common ancestry: Slovak 3% Iranian 1% Romanian 1%
• Foreign-born: 2% · Canada
• Languages at home: 97% English-only · Other Indo-European 2% 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: ▼ -36.64%
• Current HPI: 237.0598
• 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

+50.3% since first listed

4 events — show timeline

• 2026-05-01 Price Changed $29,900 IRMLS
• 2026-03-26 Price Changed $39,999 IRMLS
• 2026-03-21 Listed $45,000 IRMLS
• 2021-12-07 Sold (Public Records) $19,900 Public Records

Property tax history

+0.6%/yr

Latest (2024): $328 · +27.6% YoY. Source: county tax records.