105 N 2nd Ave · Jonesboro, IN 46938

$29,900

3 bd · 1.0 ba · 1,512 sqft · SingleFamily public records · 78 Days on market

Built 1910 6,600 sqft lot $20/sqft · 56% below area ↓ 14% since listing

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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 +7.5/15.0
• Livability +3.5/5.0
• Schools +2.7/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +1.2/10.0

Listing remarks MLS

Charming 1.5-story home offering 3 bedrooms and 1 full bath, perfectly situated on a manageable city lot. This home features a comfortable living room with plenty of natural light, creating a warm and inviting space for relaxing or entertaining. The functional layout offers flexibility with bedrooms on multiple levels. Conveniently located near schools, shopping, dining, and other local amenities.

Key facts

• 6,600 sq ft lot
• Built 1910
• Listed 78 days

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $30k.

Deal economics

• At list price, monthly cash flow is $752 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $30k).
• Recommended offer: $28k (6.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 69/100 on livability (#197 in IN) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A-; Watch: schools D, health & safety D, amenities F.
• Mississinewa Community School Corporation (town): math 29% / reading 34% proficiency, ranked #233 of 301 in IN (top 77%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 9 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 52 units permitted in Grant County in 2024 (8 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $207 of loan paydown is wiped out by about $897 of value loss. Plan a longer hold.
• Grant County population projected at -18% 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 $8k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 78 days — a 6% lower offer ($28k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1910 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $28,106 (6.0% below list)

Questions for the listing agent

1. It's been on market 78 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1910 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
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: 4.00% ✓
• Cap rate: 36.48%
• Cash-on-cash: 107.80%
• DSCR: 5.80
• GRM: 2.1

CMA / ARV

• ARV (median comp): $67,680
• List price: $29,900
• Delta: -55.82%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 10 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
105 N 2nd Ave	0.00mi	3/1.0	1,512 (0%)	1mo	$29,000	$19	100
207 S 3rd Ave	0.15mi	3/1.5	1,409 (-7%)	10mo	$175,000	$124	71
303 S Main St	0.32mi	3/1.0	1,392 (-8%)	5mo	$23,500	$17	68
514 W 7th St	0.50mi	3/2.0	1,512 (0%)	8mo	$60,000	$40	66
903 S Water St	0.73mi	3/2.0	1,480 (-2%)	2mo	$184,800	$125	57
106 W 5th St	0.38mi	4/1.0 (+1)	1,665 (+10%)	13mo	$25,000	$15	49
803 S Water St	0.67mi	2/1.0 (-1)	1,388 (-8%)	5mo	$28,500	$21	46
908 S Corder St	0.69mi	3/2.0	1,492 (-1%)	22mo	$150,000	$101	43
506 S Water St	0.49mi	3/1.0	1,342 (-11%)	22mo	$83,000	$62	41
608 S Water St	0.56mi	2/2.0 (-1)	1,336 (-12%)	14mo	$54,750	$41	34

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: —
• Equity multiple: 6.14×
• Total profit: $43,063
• Equity at exit: $4,458

10-year hold

• IRR: —
• Equity multiple: 12.85×
• Total profit: $99,212
• Equity at exit: $2,585

Cash invested: $8,372 (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 46938

• Home prices YoY: -3.5%
• Active inventory: 9
• Price-to-rent: 2.1×

Monthly cashflow live

• Estimated rent: $1,195 medium
• Mortgage (P&I): −$157
• Tax from tax record: −$23 /mo · $273/yr
• Insurance: −$12
• HOA: −$0
• Vacancy / Maint / Mgmt: −$251
• Net cashflow: $752

Break-even live

Break-even rent $243

Max offer price $29,900

Occupancy floor 32%

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: $7,475
• Closing costs: $897
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
7145 S Meridian St Unit 161 Marion, IN	3.0	2.0	1180	$1,195	$1.01	43d	1	1.03mi

Listing history 3 events

1. 2026-05-13
   status Pending 400-char remark

   Show marketing remark (400 chars)

   Charming 1.5-story home offering 3 bedrooms and 1 full bath, perfectly situated on a manageable city lot. This home features a comfortable living room with plenty of natural light, creating a warm and inviting space for relaxing or entertaining. The functional layout offers flexibility with bedrooms on multiple levels. Conveniently located near schools, shopping, dining, and other local amenities.

2. 2026-03-24
   price $29,900 400-char remark

   Show marketing remark (400 chars)

   Charming 1.5-story home offering 3 bedrooms and 1 full bath, perfectly situated on a manageable city lot. This home features a comfortable living room with plenty of natural light, creating a warm and inviting space for relaxing or entertaining. The functional layout offers flexibility with bedrooms on multiple levels. Conveniently located near schools, shopping, dining, and other local amenities.

3. 2026-02-24
   listed $34,900 Active 400-char remark

   Show marketing remark (400 chars)

   Charming 1.5-story home offering 3 bedrooms and 1 full bath, perfectly situated on a manageable city lot. This home features a comfortable living room with plenty of natural light, creating a warm and inviting space for relaxing or entertaining. The functional layout offers flexibility with bedrooms on multiple levels. Conveniently located near schools, shopping, dining, and other local amenities.

ⓘ 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: $273 · $23/mo
• Projected year-2 tax: $273 · $23/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 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: $14,340
• − Mortgage interest: −$1,675
• − Property taxes: −$273
• − Insurance: −$150
• − Repairs & maintenance: −$1,147
• − Management: −$1,147
• − Depreciation: −$870
• Taxable income: $9,079
• Est. tax owed @ 24.0%: −$2,179
• After-tax cash flow: $6,846/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: Mississinewa Community School Corporation
• NCES district ID: 1806870
• Math proficiency: 29% ▼ -10.00%
• Reading proficiency: 34% ▼ -10.00%
• Median HH income: $41,555
• Composite: 26.62/100
• National rank: #7175
• State rank: #233 of 301 in IN

Livability — Jonesboro

• Score: 69/100
• State rank: #197
• US rank: #8836

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Jonesboro, IN
• Population (ZIP): 2,576

Population outlook (Grant County) Hauer SSP2

• Today (2025): 64,394 people
• By 2030: 62,145 · -3.5%
• By 2040: 57,252 · -11.1%
• By 2050: 52,968 · -17.7%
• By 2075: 45,986 · -28.6%
• By 2100: 39,400 · -38.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (95%)
• Race & ethnicity: White 95% Two or more races 3% Hispanic / Latino 3%
• Common ancestry: Russian 1% Iranian 1% Lithuanian 1%
• Foreign-born: 1% · Canada
• Languages at home: 98% English-only · Spanish 2%

Political lean MEDSL · Grant

• 2024 margin: Solid R (+41.8) · D 28.2% · R 70.0% · Other 1.9%
• 2008→2024 swing: -28.7pp toward R · 2008: -13.1pp · 2024: -41.8pp
• All cycles: 2024: R+41.8 2020: R+38.8 2016: R+39.5 2012: R+22.0 2008: R+13.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -7.69%
• Current HPI: 212.8427
• 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

-14.3% since first listed

3 events — show timeline

• 2026-05-13 Pending — IRMLS
• 2026-03-24 Price Changed $29,900 IRMLS
• 2026-02-24 Listed $34,900 IRMLS

Property tax history

-2.3%/yr

Latest (2025): $273 · -36.4% YoY. Source: county tax records.