667 W Southern Rd · Orland, IN 49028

$124,900

3 bd · 1.5 ba · 1,917 sqft · SingleFamily public records · 9 Days on market

Built 1940 1.50 ac lot

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Why this score? — see what drove the C- 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 +20.9/30.0
• ARV discount +7.5/15.0
• DSCR +6.6/10.0
• 1% rule +5.1/10.0
• Livability +3.3/5.0
• Schools +2.7/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Quiet area of open fields all around subject, is this 3 bedrroms home with large living room, full unfinished basement, 2 car garage , front covered porch with a barn sitting on 1.5 Acre lot.

Key facts

• Front covered porch
• 1.5 acre lot
• Large living room

Tags

• LARGE LIVING ROOM
• FULL UNFINISHED BASEMENT
• FRONT COVERED PORCH
• 1.5 ACRE LOT

Property features AI

Exterior

• Parking: Attached 2-car garage
• Utilities: Well water
• Home design: Traditional-style single family residence; Approximately 1,917 living area
• Construction: Built in 1940; Vinyl siding; Shingle roof; Full foundation (basement)
• Exterior features: Paved road access; Barn(s) on the property; Well water

Interior

• Bathrooms: 1 half bathroom
• Heating & cooling: Forced air heating
• Interior features: Replacement windows; Total of 6 rooms; Full basement

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $125k.

Deal economics

• At list price, monthly cash flow is $173 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $125k).

Location & tenants

• Location reads 66/100 on livability (#279 in IN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: crime C-, employment D+, schools F.
• Bronson Community School District (rural): math 26% / reading 38% proficiency, ranked #340 of 540 in MI (top 63%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 43 units permitted in Branch County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $864 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Branch County population projected at -18% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• Only 9 days on market — expect competitive offers; lowballing is unlikely to land.
• 5 sale attempts since 11y 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.

Risks & watch-outs

• Watch-outs: built in 1940 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $124,900

Questions for the listing agent

1. Built in 1940 — 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. 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?
4. 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.
5. 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.
6. 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: 1.01% ✓
• Cap rate: 7.95%
• Cash-on-cash: 5.93%
• DSCR: 1.26
• GRM: 8.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: -7.2%
• Equity multiple: 0.74×
• Total profit: $-9,245
• Equity at exit: $18,623

10-year hold

• IRR: 2.4%
• Equity multiple: 1.17×
• Total profit: $6,091
• Equity at exit: $10,799

Cash invested: $34,972 (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 49028

• Home prices YoY: -34.8%
• Price-to-rent: 8.3×

Monthly cashflow live

• Estimated rent: $1,261 medium
• Mortgage (P&I): −$655
• Tax from tax record: −$116 /mo · $1,393/yr
• Insurance: −$52
• HOA: −$0
• Vacancy / Maint / Mgmt: −$265
• Net cashflow: $173

Break-even live

Break-even rent $1,042

Max offer price $124,900

Occupancy floor 81%

Sensitivity live

Price	-10% $243	-5% $208	+0% $173	+5% $137	+10% $102
Rent	-10% $73	-5% $123	+0% $173	+5% $223	+10% $272
Rate	-1.0pp $236	-0.5pp $204	base $173	+0.5pp $140	+1.0pp $107

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: $31,225
• Closing costs: $3,747
• Reserves months: —
• Total cash needed: —

Listing history 9 events

1. 2026-06-21
   days on market $124,900 Active 9 DOM
2. 2026-06-18
   days on market $124,900 Active 7 DOM
3. 2026-06-17
   days on market $124,900 Active 6 DOM
4. 2026-06-17
   remarks 298-char remark
5. 2026-06-16
   days on market $124,900 Active 5 DOM
6. 2026-06-15
   days on market $124,900 Active 4 DOM
7. 2026-06-13
   days on market $124,900 Active 2 DOM
8. 2026-06-12
   remarks 191-char remark
9. 2026-06-12
   listed $124,900 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: $1,393 · $116/mo
• Projected year-2 tax: $1,393 · $116/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 2/10 Low 7 d/yr ≥99°F today · 16 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 0% 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: $15,126
• − Mortgage interest: −$6,996
• − Property taxes: −$1,393
• − Insurance: −$624
• − Repairs & maintenance: −$1,210
• − Management: −$1,210
• − Depreciation: −$3,633
• Taxable income: $59
• Est. tax owed @ 24.0%: −$14
• After-tax cash flow: $2,058/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: Bronson Community School District
• NCES district ID: 2606960
• Math proficiency: 26% ▼ -13.00%
• Reading proficiency: 38% ▼ -8.00%
• Median HH income: $42,978
• Composite: 27.14/100
• National rank: #7032
• State rank: #340 of 540 in MI

Livability — Orland

• Score: 66/100
• State rank: #279
• US rank: #11526

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• City population: 1,607
• Population (ZIP): 5,969

Population outlook (Branch County) Hauer SSP2

• Today (2025): 41,079 people
• By 2030: 39,622 · -3.5%
• By 2040: 36,584 · -10.9%
• By 2050: 33,462 · -18.5%
• By 2075: 26,612 · -35.2%
• By 2100: 18,580 · -54.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (84%)
• Race & ethnicity: White 84% Hispanic / Latino 12% Two or more races 9%
• Hispanic origin (detail): Mexican 12%
• Common ancestry: Romanian 9% Italian 2% Lithuanian 2%
• Foreign-born: 4% · Canada
• Languages at home: 89% English-only · Spanish 9% German/W. Germanic 2%

Political lean MEDSL · Branch

• 2024 margin: Solid R (+42.4) · D 28.0% · R 70.4% · Other 1.6%
• 2008→2024 swing: -36.2pp toward R · 2008: -6.1pp · 2024: -42.4pp
• All cycles: 2024: R+42.4 2020: R+38.5 2016: R+38.1 2012: R+18.7 2008: R+6.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -92.49%
• Current HPI: 173.6851
• 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

+5.0% since first listed

13 events — show timeline

• 2026-06-09 Listed $124,900 SW Michigan MLS
• 2026-06-09 Listed $124,900 REALCOMP
• 2026-06-09 Listed $124,900 MiRealSource-MiMLS
• 2016-05-09 Sold (Public Records) $125,500 Public Records
• 2016-05-06 Sold (MLS) $125,500 SW Michigan MLS
• 2016-05-06 Sold (MLS) $125,500 REALCOMP
• 2016-05-03 Pending — SW Michigan MLS
• 2016-02-23 Contingent — SW Michigan MLS
• 2016-02-04 Price Changed $123,900 SW Michigan MLS
• 2015-12-01 Price Changed $128,900 SW Michigan MLS
• 2015-09-18 Listed $134,900 SW Michigan MLS
• 2015-09-17 Listed $123,900 REALCOMP
• 2004-11-19 Sold (Public Records) $119,000 Public Records

Property tax history

+68.4%/yr

Latest (2024): $1,393 · +183.6% YoY. Source: county tax records.