5386 State Road 250 · Cross Plains, IN 47043

$215,000

2 bd · 1.0 ba · 2,400 sqft · SingleFamily public records · 70 Days on market

Built 2021 6.20 ac lot ↓ 20% since listing

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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).

• Appreciation +9.1/10.0
• Cash flow +8.1/30.0
• ARV discount +7.5/15.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.4/10.0
• DSCR +2.1/10.0
• 1% rule +1.9/10.0

Listing remarks MLS

An incredible value on this 6 acre hobby farm offered for sale in Switzerland County Indiana. This property offers a 6 bedroom Amish home built new in the last five years. The home would need some updates for mainstream society due to not having indoor plumbing, cabinetry or central air. There are poured concrete walls in the basement so the possibilities are endless. A huge pole barn that is already divided for livestock will serve as the hub of your new farm. You might enjoy the amble square footage in your very own workshop as well as the storage attached there too. Pigs, pasture, cattle, horses, and dreams. .. Come experience country living at its best and enjoy the view from the front porch!

Key facts

• Workshop
• Huge pole barn
• 6.2 acre lot

Tags

• POURED CONCRETE WALLS
• HUGE POLE BARN
• WORKSHOP
• VIEW FROM THE FRONT PORCH

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $215k.

Deal economics

• At list price, monthly cash flow is $-212 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $178k (17.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $149k (30.7% below list).
• Recommended offer: $149k (30.7% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads: area grade D — affects rentability + tenant quality, not the cash-flow math above.
• Switzerland County School Corporation (rural): math 25% / reading 31% proficiency, ranked #254 of 301 in IN (top 84%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Switzerland Co Middle School (math 17% / reading 28%, grade F, #266 of 330 statewide, top 81%, 244 students, 54% FRL); Switzerland Co Senior High School (math 22% / reading 47%, grade F, #270 of 369 statewide, top 77%, 435 students, 50% FRL).
• Market conditions: 35 active listings in the ZIP; 80 units permitted in Switzerland County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $19k of equity ($1k loan paydown + $18k appreciation (8.2% local appreciation)).
• Switzerland County population projected at -14% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• By year 2, paydown + projected appreciation supports a ~$30k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 70 days — a 6% lower offer ($202k) is reasonable based on typical stale-listing flexibility.
• 9 sale attempts since 5y 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 $115k; list at $215k implies a 87% gain — meaningful room to come down on a strong offer.

Recommended offer $149,001 (30.7% below list)

Questions for the listing agent

1. 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?
2. It's been on market 70 days. Have you received any prior offers? Is the seller open to a 31% concession, seller financing, or rate buy-down credit?
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. 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?
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: 0.69% ✗
• Cap rate: 5.11%
• Cash-on-cash: -4.22%
• DSCR: 0.81
• GRM: 12.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

8.15% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 17.1%
• Equity multiple: 2.28×
• Total profit: $77,071
• Equity at exit: $165,492

10-year hold

• IRR: 16.4%
• Equity multiple: 4.88×
• Total profit: $233,645
• Equity at exit: $330,573

Cash invested: $60,200 (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 47043

• Home prices YoY: 4.0%
• Active inventory: 35
• Price-to-rent: 12.0×

Monthly cashflow live

• Estimated rent: $1,490 medium
• Mortgage (P&I): −$1,127
• Tax from tax record: −$172 /mo · $2,061/yr
• Insurance: −$90
• HOA: −$0
• Vacancy / Maint / Mgmt: −$313
• Net cashflow: $-212

Break-even live

Break-even rent $1,758

Max offer price $177,607

Occupancy floor —

Sensitivity live

Price	-10% $-90	-5% $-151	+0% $-212	+5% $-273	+10% $-333
Rent	-10% $-329	-5% $-271	+0% $-212	+5% $-153	+10% $-94
Rate	-1.0pp $-103	-0.5pp $-157	base $-212	+0.5pp $-267	+1.0pp $-324

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: $53,750
• Closing costs: $6,450
• Reserves months: —
• Total cash needed: —

Listing history 42 events

1. 2026-06-01
   status $215,000 Pending 70 DOM
2. 2026-06-01
   days on market $215,000 Active 70 DOM
3. 2026-05-31
   days on market $215,000 Active 69 DOM
4. 2026-05-31
   days on market $215,000 Active 68 DOM
5. 2026-05-06
   price $215,000 705-char remark

   Show marketing remark (705 chars)

   An incredible value on this 6 acre hobby farm offered for sale in Switzerland County Indiana. This property offers a 6 bedroom Amish home built new in the last five years. The home would need some updates for mainstream society due to not having indoor plumbing, cabinetry or central air. There are poured concrete walls in the basement so the possibilities are endless. A huge pole barn that is already divided for livestock will serve as the hub of your new farm. You might enjoy the amble square footage in your very own workshop as well as the storage attached there too. Pigs, pasture, cattle, horses, and dreams. .. Come experience country living at its best and enjoy the view from the front porch!

6. 2026-03-23
   listed $225,000 Active 705-char remark

   Show marketing remark (705 chars)

   An incredible value on this 6 acre hobby farm offered for sale in Switzerland County Indiana. This property offers a 6 bedroom Amish home built new in the last five years. The home would need some updates for mainstream society due to not having indoor plumbing, cabinetry or central air. There are poured concrete walls in the basement so the possibilities are endless. A huge pole barn that is already divided for livestock will serve as the hub of your new farm. You might enjoy the amble square footage in your very own workshop as well as the storage attached there too. Pigs, pasture, cattle, horses, and dreams. .. Come experience country living at its best and enjoy the view from the front porch!

7. 2025-06-09
   status Active
8. 2025-05-29
   price $268,500
9. 2025-05-27
   status Active
10. 2025-04-07
    price $269,900
11. 2025-03-20
    price $282,000
12. 2025-03-13
    price $286,500
13. 2025-03-10
    price $288,500
14. 2025-01-30
    listed $289,000 Active
15. 2025-01-10
    historical
16. 2024-11-26
    price $299,900
17. 2024-11-26
    price $299,900
18. 2024-10-22
    price $319,999
19. 2024-10-22
    status Active
20. 2024-10-22
    historical Contingency Pending
21. 2024-10-22
    price $319,999
22. 2024-10-03
    price $339,000
23. 2024-10-02
    price $339,000
24. 2024-10-02
    price $329,000
25. 2024-10-02
    price $329,000
26. 2024-09-27
    price $339,000
27. 2024-09-27
    price $339,000
28. 2024-09-25
    price $229,000
29. 2024-09-25
    price $229,000
30. 2024-08-22
    price $339,000
31. 2024-08-22
    price $339,000
32. 2024-03-29
    listed $367,000 Active
33. 2024-03-21
    listed $367,000 Active
34. 2021-06-25
    soldstatus $115,000 Sold
35. 2021-06-25
    soldstatus $115,000
36. 2021-06-25
    soldstatus $56,308
37. 2021-06-25
    soldstatus $115,000
38. 2021-05-20
    historical Contingency Pending
39. 2021-05-18
    listed $129,000 Active
40. 2021-05-18
    listed $129,000
41. 2017-06-21
    soldstatus $70,000
42. 2017-03-03
    soldstatus $270,000

ⓘ 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: $2,061 · $172/mo
• Projected year-2 tax: $2,061 · $172/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 4/10 Moderate 7 d/yr ≥104°F today · 19 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 2% 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: $17,880
• − Mortgage interest: −$12,043
• − Property taxes: −$2,061
• − Insurance: −$1,075
• − Repairs & maintenance: −$1,430
• − Management: −$1,430
• − Depreciation: −$6,255
• Taxable loss: −$6,414
• Est. tax savings @ 24.0%: +$1,539
• After-tax cash flow: $-1,001/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: Switzerland County School Corporation
• NCES district ID: 1811220
• Math proficiency: 25% ▼ -10.00%
• Reading proficiency: 31% ▼ -9.00%
• Median HH income: $44,127
• Composite: 23.96/100
• National rank: #7780
• State rank: #254 of 301 in IN

Livability — Cross Plains

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

Census & demographics

• Population (ZIP): 4,851

Population outlook (Switzerland County) Hauer SSP2

• Today (2025): 10,189 people
• By 2030: 9,909 · -2.7%
• By 2040: 9,347 · -8.3%
• By 2050: 8,721 · -14.4%
• By 2075: 7,542 · -26.0%
• By 2100: 6,601 · -35.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (96%)
• Race & ethnicity: White 96% Two or more races 2%
• Common ancestry: Slovak 3% Italian 2% Serbian 2%
• Foreign-born: 1% · Canada
• Languages at home: 96% English-only · German/W. Germanic 4% Spanish 0%

Political lean MEDSL · Switzerland

• 2024 margin: Solid R (+57.5) · D 20.5% · R 78.0% · Other 1.5%
• 2008→2024 swing: -49.2pp toward R · 2008: -8.3pp · 2024: -57.5pp
• All cycles: 2024: R+57.5 2020: R+52.2 2016: R+44.7 2012: R+12.8 2008: R+8.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 8.15%
• Current HPI: 212.0481
• 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

-20.4% since first listed

38 events — show timeline

• 2026-05-06 Price Changed $215,000 IRMLS
• 2026-03-23 Listed $225,000 IRMLS
• 2025-06-09 Relisted — SEIBR
• 2025-05-29 Price Changed $268,500 SEIBR
• 2025-05-27 Relisted — SEIBR
• 2025-04-07 Price Changed $269,900 SEIBR
• 2025-03-20 Price Changed $282,000 SEIBR
• 2025-03-13 Price Changed $286,500 SEIBR
• 2025-03-10 Price Changed $288,500 SEIBR
• 2025-01-30 Listed $289,000 SEIBR
• 2025-01-10 Listing Removed — Cincy MLS
• 2024-11-26 Price Changed $299,900 SEIBR
• 2024-11-26 Price Changed $299,900 Cincy MLS
• 2024-10-22 Price Changed $319,999 SEIBR
• 2024-10-22 Relisted — Cincy MLS
• 2024-10-22 Contingent — Cincy MLS
• 2024-10-22 Price Changed $319,999 Cincy MLS
• 2024-10-03 Price Changed $339,000 SEIBR
• 2024-10-02 Price Changed $339,000 Cincy MLS
• 2024-10-02 Price Changed $329,000 SEIBR
• 2024-10-02 Price Changed $329,000 Cincy MLS
• 2024-09-27 Price Changed $339,000 SEIBR
• 2024-09-27 Price Changed $339,000 Cincy MLS
• 2024-09-25 Price Changed $229,000 SEIBR
• 2024-09-25 Price Changed $229,000 Cincy MLS
• 2024-08-22 Price Changed $339,000 SEIBR
• 2024-08-22 Price Changed $339,000 Cincy MLS
• 2024-03-29 Listed $367,000 Cincy MLS
• 2024-03-21 Listed $367,000 SEIBR
• 2021-06-25 Sold (Public Records) $115,000 Public Records
• 2021-06-25 Sold (Public Records) $56,308 Public Records
• 2021-06-25 Sold (MLS) $115,000 SEIBR
• 2021-06-25 Sold (MLS) $115,000 Cincy MLS
• 2021-05-20 Contingent — Cincy MLS
• 2021-05-18 Listed $129,000 SEIBR
• 2021-05-18 Listed $129,000 Cincy MLS
• 2017-06-21 Sold (Public Records) $70,000 Public Records
• 2017-03-03 Sold (Public Records) $270,000 Public Records

Property tax history

+13.7%/yr

Latest (2024): $2,061 · +0.4% YoY. Source: county tax records.