6158 W SR 28 · Jefferson, IN 46041

$80,000

3 bd · 1.0 ba · 1,288 sqft · SingleFamily public records · 2 Days on market

Built 1958 0.89 ac lot Est $81k · at est.

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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 +8.1/15.0
• Schools +3.4/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Affordable equity-building, skill-challenging and fun opportunity available now at 6158 W SR 28 just outside of Frankfort. Situated on a great piece of land, too. .. .At nearly 1-acre in the Clinton Prairie School district, this 1,288 sq. ft. brick home is a blank canvas with plenty of room to expand -- want a pole barn, large party garage, huge garden or just more room to roam? This could be it! Just waiting for somebody to write its next chapter, this classic 50's ranch has been unoccupied for several years, and it needs a significant rehab from top to bottom. Solid potential allows you to skip those cookie-cutter neighborhoods to build back even better than ever in this ideal and beaut

Key facts

• Nearly 1-acre
• 0.89 acre lot
• Garage

Tags

• NEARLY 1-ACRE
• CUSTOM COUNTRY HOMESTEAD

Property features AI

Finance

• Other: Located in Clinton Prairie School Corporation (school names provided)
• Financial info: Annual tax amount listed

Exterior

• Parking: Attached garage with 1 garage space
• Utilities: Well water; Septic tank sewer
• Home design: Single-family, site-built home; One story
• Construction: Slab foundation
• Exterior features: Lot is approximately 0.893 acres

Interior

• Bedrooms: Bedrooms located on the main level
• Bathrooms: One full bathroom on the main level
• Heating & cooling: No heating specified; No cooling specified
• Interior features: Five total rooms
• Laundry & utility: Laundry on the main level

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $80k.

Deal economics

• At list price, monthly cash flow is $625 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $80k).

Location & tenants

• Location reads: area grade B — affects rentability + tenant quality, not the cash-flow math above.
• Clinton Prairie School Corporation (rural): math 35% / reading 41% proficiency, ranked #149 of 301 in IN (top 50%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Clinton Prairie Elementary School (math 47% / reading 39%, grade F, #417 of 994 statewide, top 43%, 663 students, 50% FRL); Clinton Prairie Jr-Sr High School (math 19% / reading 42%, grade F, #305 of 369 statewide, top 83%, 530 students, 42% FRL) — zoned schools average 46% FRL vs 31% district-wide (15 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 129 active listings in the ZIP; 59 units permitted in Clinton County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $553 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Clinton County population projected at -15% 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 $22k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• Only 2 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1958 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $80,000

Questions for the listing agent

1. Built in 1958 — 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: 1.75% ✓
• Cap rate: 15.67%
• Cash-on-cash: 33.48%
• DSCR: 2.49
• GRM: 4.8

CMA / ARV

• ARV (on-the-fly): $81,144
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
6158 W SR 28	0.00mi	3/1.0	1,288 (0%)	0mo	$80,500	$63	100

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: 28.7%
• Equity multiple: 2.20×
• Total profit: $26,816
• Equity at exit: $11,928

10-year hold

• IRR: 36.1%
• Equity multiple: 4.33×
• Total profit: $74,507
• Equity at exit: $6,917

Cash invested: $22,400 (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 46041

• Home prices YoY: -17.8%
• Active inventory: 129
• Price-to-rent: 4.8×

Monthly cashflow live

• Estimated rent: $1,398 medium
• Mortgage (P&I): −$420
• Tax from tax record: −$27 /mo · $319/yr
• Insurance: −$33
• HOA: −$0
• Vacancy / Maint / Mgmt: −$294
• Net cashflow: $625

Break-even live

Break-even rent $607

Max offer price $80,000

Occupancy floor 50%

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: $20,000
• Closing costs: $2,400
• Reserves months: —
• Total cash needed: —

Listing history 3 events

1. 2026-06-07
   statusdays on market $80,000 Pending 2 DOM
2. 2026-06-03
   remarks 699-char remark
3. 2026-06-03
   listed $80,000 Active 1 DOM

ⓘ 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: $319 · $27/mo
• Projected year-2 tax: $499 · $42/mo
• Expected delta: +$181/yr (+$15/mo · 56.7%)

ⓘ 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 ≥100°F today · 18 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $16,775
• − Mortgage interest: −$4,481
• − Property taxes: −$319
• − Insurance: −$400
• − Repairs & maintenance: −$1,342
• − Management: −$1,342
• − Depreciation: −$2,327
• Taxable income: $6,564
• Est. tax owed @ 24.0%: −$1,575
• After-tax cash flow: $5,924/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: Clinton Prairie School Corporation
• NCES district ID: 1802160
• Math proficiency: 35% ▼ -5.00%
• Reading proficiency: 41% ▬ 0.00%
• Median HH income: $58,334
• Composite: 33.61/100
• National rank: #5408
• State rank: #149 of 301 in IN

Livability — Jefferson

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• Population (ZIP): 23,359

Population outlook (Clinton County) Hauer SSP2

• Today (2025): 31,197 people
• By 2030: 30,257 · -3.0%
• By 2040: 28,383 · -9.0%
• By 2050: 26,644 · -14.6%
• By 2075: 23,858 · -23.5%
• By 2100: 22,236 · -28.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (73%)
• Race & ethnicity: White 73% Hispanic / Latino 24% Two or more races 11%
• Hispanic origin (detail): Mexican 22%
• Common ancestry: Iranian 1% Italian 1% Slovak 1%
• Foreign-born: 11% · Canada, Philippines
• Languages at home: 86% English-only · Spanish 14%

Political lean MEDSL · Clinton

• 2024 margin: Solid R (+48.0) · D 25.2% · R 73.2% · Other 1.6%
• 2008→2024 swing: -35.0pp toward R · 2008: -13.0pp · 2024: -48.0pp
• All cycles: 2024: R+48.0 2020: R+46.1 2016: R+48.0 2012: R+30.7 2008: R+13.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -57.02%
• Current HPI: 263.2258
• 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

• 2026-06-03 Listed $80,000 IRMLS

Property tax history

+1.3%/yr

Latest (2023): $319 · +8.3% YoY. Source: county tax records.