51 E Vine St

Rosedale, IN 47874

$145,500D

2 bd · 1.0 ba · 1,128 sqft · Built 1840 · SingleFamily · Active · 45 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $984/mo
• Mortgage (P&I): −$763
• Tax + insurance: −$242
• HOA: −$0
• Vac / Maint / Mgmt: −$207
• Net cashflow: $-228/mo
• Annual: $-2,735/yr
• Cap rate: 4.41%
• Cash-on-cash: -6.71%
• DSCR: 0.70
• 1% rule: 0.68%
• Cash to close: $40,740

Investor read

• This is a 2-bed/1.0-bath single-family listed at $146k.
• At list price, monthly cash flow is $-228 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $113k (22.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $98k (32.4% below list).
• It's been on market 45 days — a 3% lower offer ($141k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $98k (32.4% below list) — sets the bar for 1% rule.
• In year one you build about $16k of equity ($1k loan paydown + $15k appreciation (10.0% local appreciation)).
• Location reads 61/100 on livability (#509 in IN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: crime C-, employment D, amenities F.
• Southwest Parke Community School Corporation (rural): math 34% / reading 36% proficiency, ranked #195 of 301 in IN (top 65%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Rosedale Elementary School (math 42% / reading 32%, grade F, #550 of 994 statewide, top 57%, 312 students, 53% FRL); Riverton Parke Jr-Sr High School (math 23% / reading 39%, grade F, #303 of 369 statewide, top 82%, 472 students, 53% FRL) — zoned schools at 53% FRL track the district average.
• Watch-outs: built in 1840 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 17 active listings in the ZIP; 61 units permitted in Parke County in 2024 (0 in 5+ unit buildings).
• Parke County population projected at -10% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 4 sale attempts since 4y ago; this cycle's ask has dropped $14k (9%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $90k; list at $146k implies a 62% gain — meaningful room to come down on a strong offer.
• By year 3, paydown + projected appreciation supports a ~$39k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Questions for listing agent

• 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?
• It's been on market 45 days. Have you received any prior offers? Is the seller open to a 32% concession, seller financing, or rate buy-down credit?
• Built in 1840 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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.
• 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.
• 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.