3081 W County Road 100 S · Greencastle, IN 46135

$159,900

2 bd · 1.0 ba · 1,080 sqft · SingleFamily public records · 35 Days on market

Built 1964 0.40 ac lot Est $150k · 7% over

---

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).

• Cash flow +16.9/30.0
• DSCR +5.3/10.0
• ARV discount +4.6/15.0
• Livability +3.7/5.0
• 1% rule +3.4/10.0
• Schools +3.4/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Gorgeous country ranch home, 3 bedroom, 1 bath in historic Greencastle. Covered rear patio to enjoy quiet evenings at home, or entertaining guests. Spacious living room with separate dining room in kitchen. 1 car attached garage, 2 car detached garage. All brick exterior. This beautiful home is move in ready and won't last long. New roof and gutters!

Key facts

• 0.4 acre lot
• Garage
• Built 1964

Property features AI

Exterior

• Parking: Attached garage (1 car)
• Utilities: Public water; Septic system; 200+ amp electric service
• Home design: Single-family residence; One-level home; Residential property
• Construction: Brick construction; Block foundation
• Exterior features: Covered patio/porch

Interior

• Kitchen: Electric cooktop; Electric oven; Dishwasher; Refrigerator; Eat-in kitchen
• Bedrooms: 3 bedrooms (all on the main level)
• Flooring: Hardwood floors
• Bathrooms: 1 full bathroom (main level)
• Heating & cooling: Radiant ceiling heating; Window air conditioning units; No central air
• Interior features: Attic with pull-down stairs; Hardwood floors; Eat-in kitchen
• Laundry & utility: Washer; Dryer; Laundry closet; Electric water heater

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $160k.

Deal economics

• At list price, monthly cash flow is $107 ($1k/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 $135k (15.7% below list).
• Recommended offer: $135k (15.7% below list) — sets the bar for 1% rule.
• Cap rate 7.1% vs local median 4.3% in Greencastle — 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 73/100 on livability (#108 in IN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: employment C-, amenities F, commute F.
• Greencastle Community School Corporation (town): math 38% / reading 42% proficiency, ranked #145 of 301 in IN (top 48%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Greencastle High School (math 42% / reading 67%, grade C-, #79 of 369 statewide, top 26%, 498 students, 49% FRL).
• Zoned-school proficiency averages 54% at this address vs 40% district-wide (+14 pts) — the actual schools serving this property are materially stronger than the Greencastle Community School Corporation average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: 97 active listings in the ZIP; 166 units permitted in Putnam County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• Putnam County population projected to shrink 8% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.

Negotiation context

• It's been on market 35 days — a 3% lower offer ($155k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 18y 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 $114k; 40% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Recommended offer $134,773 (15.7% below list)

Questions for the listing agent

1. It's been on market 35 days. Have you received any prior offers? Is the seller open to a 16% concession, seller financing, or rate buy-down credit?
2. Built in 1964 — 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. 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?
5. 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.
6. 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.
7. 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: 0.84% ✗
• Cap rate: 7.09%
• Cash-on-cash: 2.86%
• DSCR: 1.13
• GRM: 9.9

CMA / ARV

• ARV (on-the-fly): $150,120
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3081 W County Road 100 S	0.00mi	3/1.0 (+1)	1,080 (0%)	0mo	$150,000	$139	95

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: -11.8%
• Equity multiple: 0.57×
• Total profit: $-19,196
• Equity at exit: $23,842

10-year hold

• IRR: -2.7%
• Equity multiple: 0.82×
• Total profit: $-8,262
• Equity at exit: $13,825

Cash invested: $44,772 (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 46135

• Home prices YoY: -20.8%
• Active inventory: 97
• Price-to-rent: 9.9×

Monthly cashflow live

• Estimated rent: $1,348 medium
• Mortgage (P&I): −$839
• Tax from tax record: −$53 /mo · $636/yr
• Insurance: −$67
• HOA: −$0
• Vacancy / Maint / Mgmt: −$283
• Net cashflow: $107

Break-even live

Break-even rent $1,213

Max offer price $159,900

Occupancy floor 87%

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: $39,975
• Closing costs: $4,797
• Reserves months: —
• Total cash needed: —

Listing history 14 events

1. 2026-04-11
   status Pending
2. 2026-03-26
   status Active
3. 2026-03-21
   status Pending
4. 2026-03-16
   price $159,900
5. 2026-03-03
   status Active
6. 2026-02-22
   listed $168,000 Active
7. 2017-12-07
   soldstatus $114,000 352-char remark

   Show marketing remark (352 chars)

   Gorgeous country ranch home, 3 bedroom, 1 bath in historic Greencastle. Covered rear patio to enjoy quiet evenings at home, or entertaining guests. Spacious living room with separate dining room in kitchen. 1 car attached garage, 2 car detached garage. All brick exterior. This beautiful home is move in ready and won't last long. New roof and gutters!

8. 2017-09-06
   listed $120,000 352-char remark

   Show marketing remark (352 chars)

   Gorgeous country ranch home, 3 bedroom, 1 bath in historic Greencastle. Covered rear patio to enjoy quiet evenings at home, or entertaining guests. Spacious living room with separate dining room in kitchen. 1 car attached garage, 2 car detached garage. All brick exterior. This beautiful home is move in ready and won't last long. New roof and gutters!

9. 2016-08-16
   historical
10. 2016-04-26
    listed $102,900
11. 2014-08-01
    historical
12. 2014-03-03
    listed $117,500
13. 2009-01-09
    historical
14. 2008-07-23
    listed $117,500

ⓘ 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: $636 · $53/mo
• Projected year-2 tax: $998 · $83/mo
• Expected delta: +$361/yr (+$30/mo · 56.8%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 4/10 Moderate 7 d/yr ≥103°F today · 18 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% 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: $16,173
• − Mortgage interest: −$8,957
• − Property taxes: −$636
• − Insurance: −$800
• − Repairs & maintenance: −$1,294
• − Management: −$1,294
• − Depreciation: −$4,652
• Taxable loss: −$1,459
• Est. tax savings @ 24.0%: +$350
• After-tax cash flow: $1,629/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: Greencastle Community School Corporation
• NCES district ID: 1803990
• Math proficiency: 38% ▼ -5.00%
• Reading proficiency: 42% ▼ -6.00%
• Median HH income: $46,694
• Composite: 34.17/100
• National rank: #5276
• State rank: #145 of 301 in IN

Livability — Greencastle

• Score: 73/100
• State rank: #108
• US rank: #5665

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 19,639

Population outlook (Putnam County) Hauer SSP2

• Today (2025): 37,226 people
• By 2030: 36,723 · -1.4%
• By 2040: 35,407 · -4.9%
• By 2050: 34,177 · -8.2%
• By 2075: 32,038 · -13.9%
• By 2100: 28,380 · -23.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (86%)
• Race & ethnicity: White 86% Black 6% Two or more races 4% Hispanic / Latino 3% Asian 2%
• Common ancestry: Italian 2% Slovak 2% Lithuanian 1%
• Foreign-born: 4% · China, Canada
• Languages at home: 96% English-only · Spanish 1% French/Haitian/Cajun 1% Other Indo-European 1%

Political lean MEDSL · Putnam

• 2024 margin: Solid R (+52.0) · D 23.1% · R 75.1% · Other 1.8%
• 2008→2024 swing: -40.0pp toward R · 2008: -12.0pp · 2024: -52.0pp
• All cycles: 2024: R+52.0 2020: R+50.2 2016: R+49.6 2012: R+32.6 2008: R+12.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -58.66%
• Current HPI: 222.8815
• 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

+36.1% since first listed

14 events — show timeline

• 2026-04-11 Pending — MIBOR as Distributed by MLS Grid
• 2026-03-26 Relisted — MIBOR as Distributed by MLS Grid
• 2026-03-21 Pending — MIBOR as Distributed by MLS Grid
• 2026-03-16 Price Changed $159,900 MIBOR as Distributed by MLS Grid
• 2026-03-03 Relisted — MIBOR as Distributed by MLS Grid
• 2026-02-22 Listed $168,000 MIBOR as Distributed by MLS Grid
• 2017-12-07 Sold (MLS) $114,000 MIBOR as Distributed by MLS Grid
• 2017-09-06 Listed $120,000 MIBOR as Distributed by MLS Grid
• 2016-08-16 Listing Removed — MIBOR as Distributed by MLS Grid
• 2016-04-26 Listed $102,900 MIBOR as Distributed by MLS Grid
• 2014-08-01 Listing Removed — MIBOR as Distributed by MLS Grid
• 2014-03-03 Listed $117,500 MIBOR as Distributed by MLS Grid
• 2009-01-09 Listing Removed — MIBOR as Distributed by MLS Grid
• 2008-07-23 Listed $117,500 MIBOR as Distributed by MLS Grid

Property tax history

+4.9%/yr

Latest (2024): $636 · +7.8% YoY. Source: county tax records.