514 W 11th St · Jonesboro, IN 46938

$79,900

2 bd · 1.0 ba · 802 sqft · SingleFamily public records · 28 Days on market

Built 1890 0.50 ac lot Est $72k · 11% over

---

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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +3.5/5.0
• ARV discount +2.7/15.0
• Schools +2.7/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +1.2/10.0

Listing remarks

Welcome home to this beautifully updated 2 bedroom, 1 bath property that blends modern upgrades with future potential. Renovated in 2025, this home offers peace of mind with major improvements already done, including a new roof, vinyl replacement windows, updated cabinets, flooring, and select plumbing and electrical updates. Stylish fixtures and lighting have been added throughout, and some interior and exterior doors have been replaced—complete with smart key locks on the exterior for added convenience and security. Inside, you’ll find a comfortable layout, while the unfinished attic presents an exciting opportunity to expand. The furnace is approximately 10 years old, and the

Key facts

• Updated cabinets
• Updated flooring
• New roof

Tags

• NEW ROOF
• VINYL REPLACEMENT WINDOWS
• UPDATED CABINETS
• UPDATED FLOORING
• SELECT PLUMBING UPDATES
• SELECT ELECTRICAL UPDATES

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $80k.

Deal economics

• At list price, monthly cash flow is $958 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $80k).
• Recommended offer: $79k (1.5% 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: health & safety D, amenities F, commute 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.
• Zoned schools: R J Baskett Middle School (math 24% / reading 32%, grade F, #226 of 330 statewide, top 69%, 514 students, 68% FRL); Mississinewa High School (math 22% / reading 57%, grade F, #221 of 369 statewide, top 63%, 796 students, 61% FRL).
• 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 $552 of loan paydown is wiped out by about $2k 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 $22k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 28 days — a 2% lower offer ($79k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts; this cycle's ask has dropped $6k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1890 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $78,701 (1.5% below list)

Questions for the listing agent

1. Built in 1890 — 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 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?
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: 2.32% ✓
• Cap rate: 20.67%
• Cash-on-cash: 51.36%
• DSCR: 3.29
• GRM: 3.6

CMA / ARV

• ARV (on-the-fly): $72,180
• Comps found: 6

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
519 W 11th St	0.05mi	2/1.0	724 (-10%)	14mo	$35,000	$48	70
209 W 8th St	0.29mi	2/1.0	786 (-2%)	20mo	$18,000	$23	67
227 E 11th St	0.51mi	2/1.0	768 (-4%)	3mo	$56,500	$74	67
609 W 10th St	0.12mi	2/1.0	912 (+14%)	11mo	$127,000	$139	63
415 S 3rd Ave	0.44mi	2/1.0	768 (-4%)	22mo	$75,000	$98	54
800 Fairmount Ave	0.25mi	2/1.0	912 (+14%)	16mo	$82,250	$90	52

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: 49.2%
• Equity multiple: 3.15×
• Total profit: $48,037
• Equity at exit: $11,913

10-year hold

• IRR: 54.7%
• Equity multiple: 6.38×
• Total profit: $120,352
• Equity at exit: $6,908

Cash invested: $22,372 (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: 3.6×

Monthly cashflow live

• Estimated rent: $1,850 medium
• Mortgage (P&I): −$419
• Tax from tax record: −$52 /mo · $620/yr
• Insurance: −$33
• HOA: −$0
• Vacancy / Maint / Mgmt: −$388
• Net cashflow: $958

Break-even live

Break-even rent $638

Max offer price $79,900

Occupancy floor 43%

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: $19,975
• Closing costs: $2,397
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
215 N Harrisburg Ave Unit 9 Gas City, IN	2.0	1.0	650	$1,850	$2.85	44d	1	1.27mi

Listing history 12 events

1. 2026-06-12
   status $79,900 Pending 28 DOM
2. 2026-06-09
   days on market $79,900 Active 28 DOM
3. 2026-06-08
   days on market $79,900 Active 27 DOM
4. 2026-06-07
   days on market $79,900 Active 26 DOM
5. 2026-06-03
   days on market $79,900 Active 22 DOM
6. 2026-06-02
   days on market $79,900 Active 21 DOM
7. 2026-06-01
   pricestatus $79,900 Active 20 DOM
8. 2026-04-20
   status Pending
9. 2026-04-13
   status Active
10. 2026-04-06
    status Pending
11. 2026-03-24
    listed $85,600 Active
12. 2026-03-24
    listed $85,600 Active

ⓘ 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: $620 · $52/mo
• Projected year-2 tax: $650 · $54/mo
• Expected delta: +$30/yr (+$2/mo · 4.8%)

ⓘ 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: $22,200
• − Mortgage interest: −$4,476
• − Property taxes: −$620
• − Insurance: −$400
• − Repairs & maintenance: −$1,776
• − Management: −$1,776
• − Depreciation: −$2,324
• Taxable income: $10,828
• Est. tax owed @ 24.0%: −$2,599
• After-tax cash flow: $8,892/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

+0.0% since first listed

5 events — show timeline

• 2026-04-20 Pending — IRMLS
• 2026-04-13 Relisted — IRMLS
• 2026-04-06 Pending — IRMLS
• 2026-03-24 Listed $85,600 IRMLS
• 2026-03-24 Listed $85,600 MIBOR as Distributed by MLS Grid

Property tax history

+1.3%/yr

Latest (2025): $620 · +0.0% YoY. Source: county tax records.