619 N Ewing St · Seymour, IN 47274

$126,000

5 bd · 3.0 ba · 2,976 sqft · MultiFamily public records · 24 Days on market

Built 1897

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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 +29.4/30.0
• DSCR +10.0/10.0
• 1% rule +8.9/10.0
• ARV discount +7.5/15.0
• Livability +3.4/5.0
• Schools +2.6/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks

Off street parking All utilities paid and included in price

Key facts

• Off street parking
• All utilities paid
• Built 1897

Tags

• OFF STREET PARKING
• ALL UTILITIES PAID

What this means for you Summary

Snapshot

• This is a 5-bed/3.0-bath multifamily listed at $126k.

Deal economics

• At list price, monthly cash flow is $446 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $126k).
• Recommended offer: $124k (1.5% below list) — sets the bar for market timing.
• Cap rate 10.5% vs local median 3.5% in Seymour — 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 68/100 on livability (#211 in IN) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: schools C-, employment D+, health & safety D.
• Seymour Community Schools (town): math 27% / reading 33% proficiency, ranked #239 of 301 in IN (top 79%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 245 active listings in the ZIP; 101 units permitted in Jackson County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $871 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Jackson County population projected at +7% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $35k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 24 days — a 2% lower offer ($124k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 22y 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 1897 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $124,110 (1.5% below list)

Questions for the listing agent

1. Built in 1897 — 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. 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.
4. 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.
5. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.39% ✓
• Cap rate: 10.54%
• Cash-on-cash: 15.16%
• DSCR: 1.67
• GRM: 6.0

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: 5.9%
• Equity multiple: 1.23×
• Total profit: $8,037
• Equity at exit: $18,787

10-year hold

• IRR: 15.3%
• Equity multiple: 2.24×
• Total profit: $43,819
• Equity at exit: $10,894

Cash invested: $35,280 (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 47274

• Active inventory: 245
• Price-to-rent: 6.0×

Monthly cashflow live

• Estimated rent: $1,746 medium
• Mortgage (P&I): −$661
• Tax from tax record: −$220 /mo · $2,642/yr
• Insurance: −$52
• HOA: −$0
• Vacancy / Maint / Mgmt: −$367
• Net cashflow: $446

Break-even live

Break-even rent $1,182

Max offer price $126,000

Occupancy floor 69%

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: $31,500
• Closing costs: $3,780
• Reserves months: —
• Total cash needed: —

Listing history 21 events

1. 2026-06-19
   days on market $126,000 Active 24 DOM
2. 2026-06-18
   days on market $126,000 Active 23 DOM
3. 2026-06-17
   days on market $126,000 Active 22 DOM
4. 2026-06-16
   days on market $126,000 Active 21 DOM
5. 2026-06-15
   days on market $126,000 Active 20 DOM
6. 2026-06-14
   days on market $126,000 Active 18 DOM
7. 2026-06-13
   days on market $126,000 Active 17 DOM
8. 2026-06-10
   days on market $126,000 Active 15 DOM
9. 2026-06-09
   days on market $126,000 Active 14 DOM
10. 2026-06-08
    days on market $126,000 Active 13 DOM
11. 2026-06-07
    days on market $126,000 Active 12 DOM
12. 2026-06-05
    days on market $126,000 Active 9 DOM
13. 2026-06-03
    days on market $126,000 Active 8 DOM
14. 2026-06-02
    days on market $126,000 Active 7 DOM
15. 2026-06-01
    days on market $126,000 Active 6 DOM
16. 2026-05-31
    days on market $126,000 Active 5 DOM
17. 2026-05-30
    days on market $126,000 Active 4 DOM
18. 2026-05-26
    listed $126,000 Active
19. 2015-01-17
    historical
20. 2014-07-19
    listed $150,000
21. 2004-05-28
    listed $38,500

ⓘ 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: $2,642 · $220/mo
• Projected year-2 tax: $2,642 · $220/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 5/10 Major 7 d/yr ≥103°F today · 19 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% chance of damaging wind over 30 yrs
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $20,949
• − Mortgage interest: −$7,058
• − Property taxes: −$2,642
• − Insurance: −$630
• − Repairs & maintenance: −$1,676
• − Management: −$1,676
• − Depreciation: −$3,665
• Taxable income: $3,602
• Est. tax owed @ 24.0%: −$865
• After-tax cash flow: $4,484/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: Seymour Community Schools
• NCES district ID: 1810080
• Math proficiency: 27% ▼ -10.00%
• Reading proficiency: 33% ▼ -9.00%
• Median HH income: $46,122
• Composite: 25.81/100
• National rank: #7362
• State rank: #239 of 301 in IN

Livability — Seymour

• Score: 68/100
• State rank: #211
• US rank: #9328

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Seymour, IN
• County: Jackson County · 33,068 people
• City population: 33,068
• Metro: Seymour, IN
• Population (ZIP): 33,068
• Household income: $71,457
• Rent vs Own: 33.1% rent · 66.9% own
• Severe rent burden: 453.0

Population outlook (Jackson County) Hauer SSP2

• Today (2025): 46,376 people
• By 2030: 47,344 · +2.1%
• By 2040: 48,936 · +5.5%
• By 2050: 49,738 · +7.2%
• By 2075: 50,435 · +8.8%
• By 2100: 46,321 · -0.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (74%)
• Race & ethnicity: White 74% Hispanic / Latino 18% Two or more races 12% Asian 3% Black 1% Native American 1%
• Hispanic origin (detail): Mexican 10% Puerto Rican 2%
• Common ancestry: Slovak 2% Romanian 2% Iranian 1%
• Foreign-born: 11% · Canada
• Languages at home: 85% English-only · Spanish 12% Other Asian/Pacific 2% Other Indo-European 1%

Political lean MEDSL · Jackson

• 2024 margin: Solid R (+55.3) · D 21.5% · R 76.8% · Other 1.7%
• 2008→2024 swing: -41.6pp toward R · 2008: -13.7pp · 2024: -55.3pp
• All cycles: 2024: R+55.3 2020: R+53.3 2016: R+51.4 2012: R+27.4 2008: R+13.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -146.47%
• Current HPI: 211.9507
• Rent YoY: —
• Metro: Seymour, IN
• 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

+227.3% since first listed

4 events — show timeline

• 2026-05-26 Listed $126,000 FSBO.com
• 2015-01-17 Listing Removed — MIBOR as Distributed by MLS Grid
• 2014-07-19 Listed $150,000 MIBOR as Distributed by MLS Grid
• 2004-05-28 Listed $38,500 MIBOR as Distributed by MLS Grid

Property tax history

+1.1%/yr

Latest (2024): $2,642 · -0.6% YoY. Source: county tax records.