314 Jay St · Rochester, IN 46975

$94,900

4 bd · 1.5 ba · 1,752 sqft · SingleFamily public records · 249 Days on market

Built 1910 0.28 ac lot $54/sqft · 37% below area Est $152k · 37% under

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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
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +9.9/10.0
• Livability +3.5/5.0
• Schools +3.0/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Spacious 4 bedroom home located close to fairgrounds, school, and parks. Fenced yard, garage with an enclosed lean to for plenty of storage. Basement, back addition, and more!

Key facts

• Fenced yard
• Basement
• Back addition

Tags

• FENCED YARD
• ENCLOSED LEAN TO
• BASEMENT
• BACK ADDITION

What this means for you Summary

Snapshot

• This is a 4-bed/1.5-bath single-family listed at $95k.

Deal economics

• At list price, monthly cash flow is $530 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $95k).
• Recommended offer: $84k (12.0% below list) — sets the bar for market timing.
• Cap rate 13.0% vs local median 2.4% in Rochester — 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 69/100 on livability (#206 in IN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A; Watch: employment D, amenities F, commute F.
• Rochester Community School Corporation (town): math 31% / reading 41% proficiency, ranked #188 of 301 in IN (top 62%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: George M Riddle Elementary School (math 37% / reading 34%, grade F, #584 of 994 statewide, top 59%, 364 students, 58% FRL); Rochester Community Middle School (math 28% / reading 42%, grade F, #164 of 330 statewide, top 50%, 317 students, 58% FRL); Rochester Community High School (math 27% / reading 62%, grade F, #169 of 369 statewide, top 51%, 610 students, 57% FRL) — zoned schools average 58% FRL vs 41% district-wide (16 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 99 active listings in the ZIP; 23 units permitted in Fulton County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $656 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Fulton County population projected at -13% 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 $27k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 249 days — a 12% lower offer ($84k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 7y ago; this cycle's ask has dropped $35k (27%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

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

Recommended offer $83,512 (12.0% below list)

Questions for the listing agent

1. It's been on market 249 days. Have you received any prior offers? Is the seller open to a 12% 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 F-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: 1.49% ✓
• Cap rate: 13.00%
• Cash-on-cash: 23.95%
• DSCR: 2.07
• GRM: 5.6

CMA / ARV

• ARV (median comp): $151,543
• List price: $94,900
• Delta: -37.38%
• 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
428 Clay St	0.13mi	3/1.5 (-1)	1,790 (+2%)	7mo	$174,000	$97	79
623 W 6th St	0.24mi	3/1.0 (-1)	1,840 (+5%)	5mo	$230,000	$125	69
715 Pontiac St	0.36mi	3/2.0 (-1)	1,947 (+11%)	2mo	$175,000	$90	56
715 W 9th St	0.49mi	4/2.0	1,956 (+12%)	0mo	$306,000	$156	55
429 W 5th St	0.13mi	3/2.5 (-1)	1,966 (+12%)	14mo	$134,000	$68	53
886 W 8th St	0.47mi	3/2.0 (-1)	1,758 (+0%)	23mo	$110,000	$63	52
1214 E Jefferson St	0.72mi	3/1.0 (-1)	1,682 (-4%)	3mo	$165,000	$98	50
528 W 5th St	0.12mi	4/1.0	1,508 (-14%)	23mo	$144,900	$96	50
728 Fulton Ave	0.35mi	3/2.0 (-1)	1,880 (+7%)	18mo	$220,000	$117	49
1020 Pontiac St	0.57mi	3/1.5 (-1)	1,560 (-11%)	14mo	$165,000	$106	39

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: 17.1%
• Equity multiple: 1.69×
• Total profit: $18,371
• Equity at exit: $14,150

10-year hold

• IRR: 25.6%
• Equity multiple: 3.24×
• Total profit: $59,390
• Equity at exit: $8,205

Cash invested: $26,572 (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 46975

• Home prices YoY: -28.7%
• Active inventory: 99
• Price-to-rent: 5.6×

Monthly cashflow live

• Estimated rent: $1,410 medium
• Mortgage (P&I): −$498
• Tax from tax record: −$46 /mo · $556/yr
• Insurance: −$40
• HOA: −$0
• Vacancy / Maint / Mgmt: −$296
• Net cashflow: $530

Break-even live

Break-even rent $739

Max offer price $94,900

Occupancy floor 57%

Sensitivity live

Price	-10% $584	-5% $557	+0% $530	+5% $503	+10% $477
Rent	-10% $419	-5% $475	+0% $530	+5% $586	+10% $642
Rate	-1.0pp $578	-0.5pp $554	base $530	+0.5pp $506	+1.0pp $481

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: $23,725
• Closing costs: $2,847
• Reserves months: —
• Total cash needed: —

Listing history 29 events

1. 2026-06-22
   days on market $94,900 Active 249 DOM
2. 2026-06-18
   days on market $94,900 Active 246 DOM
3. 2026-06-17
   days on market $94,900 Active 245 DOM
4. 2026-06-16
   days on market $94,900 Active 244 DOM
5. 2026-06-15
   days on market $94,900 Active 243 DOM
6. 2026-06-14
   days on market $94,900 Active 241 DOM
7. 2026-06-10
   days on market $94,900 Active 238 DOM
8. 2026-06-09
   days on market $94,900 Active 237 DOM
9. 2026-06-08
   days on market $94,900 Active 236 DOM
10. 2026-06-07
    days on market $94,900 Active 235 DOM
11. 2026-06-03
    days on market $94,900 Active 231 DOM
12. 2026-06-02
    days on market $94,900 Active 230 DOM
13. 2026-06-01
    days on market $94,900 Active 229 DOM
14. 2026-05-31
    days on market $94,900 Active 228 DOM
15. 2026-05-31
    days on market $94,900 Active 227 DOM
16. 2026-05-13
    price $94,900 175-char remark

    Show marketing remark (175 chars)

    Spacious 4 bedroom home located close to fairgrounds, school, and parks. Fenced yard, garage with an enclosed lean to for plenty of storage. Basement, back addition, and more!

17. 2026-03-10
    status Active 175-char remark

    Show marketing remark (175 chars)

    Spacious 4 bedroom home located close to fairgrounds, school, and parks. Fenced yard, garage with an enclosed lean to for plenty of storage. Basement, back addition, and more!

18. 2026-02-09
    status Pending 175-char remark

    Show marketing remark (175 chars)

    Spacious 4 bedroom home located close to fairgrounds, school, and parks. Fenced yard, garage with an enclosed lean to for plenty of storage. Basement, back addition, and more!

19. 2026-02-05
    price $106,500 175-char remark

    Show marketing remark (175 chars)

    Spacious 4 bedroom home located close to fairgrounds, school, and parks. Fenced yard, garage with an enclosed lean to for plenty of storage. Basement, back addition, and more!

20. 2026-01-05
    price $111,900 175-char remark

    Show marketing remark (175 chars)

    Spacious 4 bedroom home located close to fairgrounds, school, and parks. Fenced yard, garage with an enclosed lean to for plenty of storage. Basement, back addition, and more!

21. 2025-12-02
    price $117,500 175-char remark

    Show marketing remark (175 chars)

    Spacious 4 bedroom home located close to fairgrounds, school, and parks. Fenced yard, garage with an enclosed lean to for plenty of storage. Basement, back addition, and more!

22. 2025-10-29
    price $123,500 175-char remark

    Show marketing remark (175 chars)

    Spacious 4 bedroom home located close to fairgrounds, school, and parks. Fenced yard, garage with an enclosed lean to for plenty of storage. Basement, back addition, and more!

23. 2025-09-16
    listed $129,900 Active 175-char remark

    Show marketing remark (175 chars)

    Spacious 4 bedroom home located close to fairgrounds, school, and parks. Fenced yard, garage with an enclosed lean to for plenty of storage. Basement, back addition, and more!

24. 2023-03-24
    soldstatus $135,000 Closed 244-char remark

    Show marketing remark (244 chars)

    Spacious 4 bedroom home located close to fairgrounds, school, and parks. Looking for something move in ready and cheaper than rent? This is it. Fenced in yard, garage with an enclosed lean to for plenty of storage. Call today and make it yours!

25. 2023-03-22
    status Pending 244-char remark

    Show marketing remark (244 chars)

    Spacious 4 bedroom home located close to fairgrounds, school, and parks. Looking for something move in ready and cheaper than rent? This is it. Fenced in yard, garage with an enclosed lean to for plenty of storage. Call today and make it yours!

26. 2023-02-17
    historical Active Under Contract 244-char remark

    Show marketing remark (244 chars)

    Spacious 4 bedroom home located close to fairgrounds, school, and parks. Looking for something move in ready and cheaper than rent? This is it. Fenced in yard, garage with an enclosed lean to for plenty of storage. Call today and make it yours!

27. 2023-01-30
    listed $135,000 Active 244-char remark

    Show marketing remark (244 chars)

    Spacious 4 bedroom home located close to fairgrounds, school, and parks. Looking for something move in ready and cheaper than rent? This is it. Fenced in yard, garage with an enclosed lean to for plenty of storage. Call today and make it yours!

28. 2019-11-13
    soldstatus $90,000
29. 2019-08-06
    listed $93,000

ⓘ 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: $556 · $46/mo
• Projected year-2 tax: $681 · $57/mo
• Expected delta: +$125/yr (+$10/mo · 22.6%)

ⓘ 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 · 16 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 3/10 Moderate 1 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $16,918
• − Mortgage interest: −$5,316
• − Property taxes: −$556
• − Insurance: −$474
• − Repairs & maintenance: −$1,353
• − Management: −$1,353
• − Depreciation: −$2,761
• Taxable income: $5,104
• Est. tax owed @ 24.0%: −$1,225
• After-tax cash flow: $5,138/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: Rochester Community School Corporation
• NCES district ID: 1809630
• Math proficiency: 31% ▼ -4.00%
• Reading proficiency: 41% ▲ 2.00%
• Median HH income: $42,645
• Composite: 30.44/100
• National rank: #6231
• State rank: #188 of 301 in IN

Livability — Rochester

• Score: 69/100
• State rank: #206
• US rank: #9060

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Rochester, IN
• County: Fulton County · 13,824 people
• City population: 13,824
• Metro: nan
• Population (ZIP): 13,824
• Household income: $61,185
• Rent vs Own: 21.3% rent · 78.7% own
• Severe rent burden: 238.0

Population outlook (Fulton County) Hauer SSP2

• Today (2025): 19,537 people
• By 2030: 19,013 · -2.7%
• By 2040: 17,959 · -8.1%
• By 2050: 17,038 · -12.8%
• By 2075: 15,117 · -22.6%
• By 2100: 13,179 · -32.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (91%)
• Race & ethnicity: White 91% Hispanic / Latino 4% Two or more races 3%
• Common ancestry: Iranian 2% Scottish 2% Lithuanian 2%
• Foreign-born: 1% · Canada
• Languages at home: 97% English-only · German/W. Germanic 2% Spanish 1%

Political lean MEDSL · Fulton

• 2024 margin: Solid R (+51.2) · D 23.7% · R 74.9% · Other 1.4%
• 2008→2024 swing: -35.2pp toward R · 2008: -16.0pp · 2024: -51.2pp
• All cycles: 2024: R+51.2 2020: R+48.2 2016: R+48.4 2012: R+33.2 2008: R+16.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -85.72%
• Current HPI: 212.9033
• Rent YoY: —
• Metro: nan
• 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

+2.0% since first listed

14 events — show timeline

• 2026-05-13 Price Changed $94,900 IRMLS
• 2026-03-10 Relisted — IRMLS
• 2026-02-09 Pending — IRMLS
• 2026-02-05 Price Changed $106,500 IRMLS
• 2026-01-05 Price Changed $111,900 IRMLS
• 2025-12-02 Price Changed $117,500 IRMLS
• 2025-10-29 Price Changed $123,500 IRMLS
• 2025-09-16 Listed $129,900 IRMLS
• 2023-03-24 Sold (MLS) $135,000 IRMLS
• 2023-03-22 Pending — IRMLS
• 2023-02-17 Contingent — IRMLS
• 2023-01-30 Listed $135,000 IRMLS
• 2019-11-13 Sold (MLS) $90,000 IRMLS
• 2019-08-06 Listed $93,000 IRMLS

Property tax history

-2.6%/yr

Latest (2024): $556 · +5.1% YoY. Source: county tax records.