121 W Grant St · Greentown, IN 46936

$109,900

2 bd · 1.0 ba · 798 sqft · SingleFamily public records · 4 Days on market

Built 1946 6,098 sqft lot Est $123k · 11% under

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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 +25.9/30.0
• ARV discount +12.3/15.0
• DSCR +8.7/10.0
• 1% rule +6.6/10.0
• Schools +3.8/10.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Investors take note! Currently leased and has been well maintained. Hardwood flooring throughout, newer windows, newer hot water heater and a metal roof. Fenced in backyard with a full unfinished basement.

Key facts

• Hardwood flooring
• Metal roof
• Fenced in backyard

Tags

• HARDWOOD FLOORING
• NEWER WINDOWS
• NEWER HOT WATER HEATER
• METAL ROOF
• FENCED IN BACKYARD
• FULL UNFINISHED BASEMENT

Property features AI

Exterior

• Parking: No designated parking
• Security: Smoke detector(s)
• Utilities: Public water; Public sewer; Electric service
• Home design: Single-family residence; Site-built home; One story
• Construction: Aluminum siding; Metal roof; Full unfinished basement
• Exterior features: Partial chain-link fencing; Level lot; Lot dimensions approximately 60 x 100

Interior

• Kitchen: Refrigerator; Electric range
• Flooring: Hardwood; Vinyl
• Bathrooms: 1 full bathroom (main level)
• Heating & cooling: Natural gas heating; Forced air heating; Central air conditioning; Has heating and cooling
• Interior features: Laminate countertops; Smoke detector(s)
• Laundry & utility: Laundry chute; Laundry in basement; Electric water heater

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $110k.

Deal economics

• At list price, monthly cash flow is $269 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $110k).
• Cap rate 9.2% vs local median 6.0% in Greentown — 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 67/100 on livability (#243 in IN) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F, health & safety D-.
• Eastern Howard School Corporation (town): math 40% / reading 47% proficiency, ranked #100 of 301 in IN (top 33%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Eastern Elementary School (math 50% / reading 39%, grade F, #379 of 994 statewide, top 41%, 770 students, 45% FRL); Eastern Middle School (math 30% / reading 44%, grade F, #152 of 330 statewide, top 47%, 397 students, 48% FRL); Eastern High School (math 42% / reading 82%, grade B-, #41 of 369 statewide, top 12%, 467 students, 42% FRL) — zoned schools average 45% FRL vs 24% district-wide (20 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 30 active listings in the ZIP; 194 units permitted in Howard County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $760 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Howard County population projected at -11% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts since 12y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $69k; list at $110k implies a 59% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1946 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $109,900

Questions for the listing agent

1. Built in 1946 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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.
4. 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.
5. 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: 1.16% ✓
• Cap rate: 9.24%
• Cash-on-cash: 10.51%
• DSCR: 1.47
• GRM: 7.2

CMA / ARV

• ARV (on-the-fly): $122,892
• Comps found: 4

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
331 W Payton St	0.24mi	2/1.0	768 (-4%)	12mo	$117,900	$154	73
524 E Grant St	0.35mi	2/1.0	864 (+8%)	2mo	$94,000	$109	68
621 W Main St	0.40mi	2/1.0	768 (-4%)	16mo	$145,000	$189	62
806 E Grant St	0.51mi	2/1.0	816 (+2%)	16mo	$110,000	$135	59

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: -0.5%
• Equity multiple: 0.98×
• Total profit: $-641
• Equity at exit: $16,386

10-year hold

• IRR: 9.1%
• Equity multiple: 1.70×
• Total profit: $21,561
• Equity at exit: $9,502

Cash invested: $30,772 (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 46936

• Home prices YoY: -24.1%
• Active inventory: 30
• Price-to-rent: 7.2×

Monthly cashflow live

• Estimated rent: $1,272 medium
• Mortgage (P&I): −$576
• Tax from tax record: −$114 /mo · $1,364/yr
• Insurance: −$46
• HOA: −$0
• Vacancy / Maint / Mgmt: −$267
• Net cashflow: $269

Break-even live

Break-even rent $931

Max offer price $109,900

Occupancy floor 74%

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: $27,475
• Closing costs: $3,297
• Reserves months: —
• Total cash needed: —

Listing history 10 events

1. 2026-06-01
   statusdays on market $109,900 Pending 4 DOM
2. 2026-05-31
   days on market $109,900 Active 3 DOM
3. 2026-05-30
   days on market $109,900 Active 2 DOM
4. 2026-05-28
   listed $109,900 Active 205-char remark

   Show marketing remark (205 chars)

   Investors take note! Currently leased and has been well maintained. Hardwood flooring throughout, newer windows, newer hot water heater and a metal roof. Fenced in backyard with a full unfinished basement.

5. 2026-05-28
   listed $109,900 Active

   Show marketing remark (205 chars)

   Investors take note! Currently leased and has been well maintained. Hardwood flooring throughout, newer windows, newer hot water heater and a metal roof. Fenced in backyard with a full unfinished basement.

6. 2023-03-10
   soldstatus $69,000 Closed 559-char remark

   Show marketing remark (559 chars)

   Adorable, 2 bedroom 1 bath bungalow available in Eastern School district. This home has vinyl plank hardwood floors, beautiful hickory kitchen cabinets and newer light fixtures. Updates over the last 10 years include: windows, electrical panel, furnace and AC new in 2014 with transferable warranty, hot water heater and metal roof with a lifetime warranty. Full basement with Washer/Dryer hookup and perimeter trench installed. Large fenced in backyard. Inexpensive utilities: gas budget is $44, electric runs $80-90 and trash/sewage/water between $100-120.

7. 2023-01-31
   status Pending 559-char remark

   Show marketing remark (559 chars)

   Adorable, 2 bedroom 1 bath bungalow available in Eastern School district. This home has vinyl plank hardwood floors, beautiful hickory kitchen cabinets and newer light fixtures. Updates over the last 10 years include: windows, electrical panel, furnace and AC new in 2014 with transferable warranty, hot water heater and metal roof with a lifetime warranty. Full basement with Washer/Dryer hookup and perimeter trench installed. Large fenced in backyard. Inexpensive utilities: gas budget is $44, electric runs $80-90 and trash/sewage/water between $100-120.

8. 2023-01-23
   listed $79,900 Active 559-char remark

   Show marketing remark (559 chars)

   Adorable, 2 bedroom 1 bath bungalow available in Eastern School district. This home has vinyl plank hardwood floors, beautiful hickory kitchen cabinets and newer light fixtures. Updates over the last 10 years include: windows, electrical panel, furnace and AC new in 2014 with transferable warranty, hot water heater and metal roof with a lifetime warranty. Full basement with Washer/Dryer hookup and perimeter trench installed. Large fenced in backyard. Inexpensive utilities: gas budget is $44, electric runs $80-90 and trash/sewage/water between $100-120.

9. 2014-10-10
   soldstatus $56,720
10. 2014-05-01
    listed $64,400

ⓘ 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: $1,364 · $114/mo
• Projected year-2 tax: $1,364 · $114/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 5/10 Major FEMA zone X (unshaded) · 48% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 3/10 Moderate 7 d/yr ≥100°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: $15,270
• − Mortgage interest: −$6,156
• − Property taxes: −$1,364
• − Insurance: −$550
• − Repairs & maintenance: −$1,222
• − Management: −$1,222
• − Depreciation: −$3,197
• Taxable income: $1,560
• Est. tax owed @ 24.0%: −$374
• After-tax cash flow: $2,859/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: Eastern Howard School Corporation
• NCES district ID: 1803150
• Math proficiency: 40% ▼ -6.00%
• Reading proficiency: 47% ▼ -2.00%
• Median HH income: $58,636
• Composite: 38.2/100
• National rank: #4255
• State rank: #100 of 301 in IN

Livability — Greentown

• Score: 67/100
• State rank: #243
• US rank: #10353

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Greentown, IN
• Population (ZIP): 5,956

Population outlook (Howard County) Hauer SSP2

• Today (2025): 81,522 people
• By 2030: 80,104 · -1.7%
• By 2040: 76,708 · -5.9%
• By 2050: 72,880 · -10.6%
• By 2075: 64,016 · -21.5%
• By 2100: 51,705 · -36.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (92%)
• Race & ethnicity: White 92% Hispanic / Latino 4% Two or more races 3% Black 1%
• Common ancestry: Italian 3% Portuguese 2% Slovak 1%
• Foreign-born: 1%

Political lean MEDSL · Howard

• 2024 margin: Solid R (+35.3) · D 31.4% · R 66.7% · Other 1.8%
• 2008→2024 swing: -29.1pp toward R · 2008: -6.2pp · 2024: -35.3pp
• All cycles: 2024: R+35.3 2020: R+32.4 2016: R+33.9 2012: R+14.3 2008: R+6.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -66.91%
• Current HPI: 211.2334
• 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

+70.7% since first listed

7 events — show timeline

• 2026-05-28 Listed $109,900 IRMLS
• 2026-05-28 Listed $109,900 IRMLS
• 2023-03-10 Sold (MLS) $69,000 IRMLS
• 2023-01-31 Pending — IRMLS
• 2023-01-23 Listed $79,900 IRMLS
• 2014-10-10 Sold (MLS) $56,720 IRMLS
• 2014-05-01 Listed $64,400 IRMLS

Property tax history

+4.2%/yr

Latest (2024): $1,364 · +3.0% YoY. Source: county tax records.