205 E Washington St · Loogootee, IN 47553

$75,000

3 bd · 2.0 ba · 1,452 sqft · SingleFamily public records · 18 Days on market

Built 1910 8,712 sqft lot $52/sqft · 51% below area

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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
• DSCR +10.0/10.0
• 1% rule +9.8/10.0
• ARV discount +7.5/15.0
• Appreciation +6.5/10.0
• Schools +3.8/10.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Solid bones, brick construction, and a clear scope of work. This 3-bedroom, 2-bath home in Loogootee sits on a generous 8,700 SF lot and offers 1,400 square feet of living space built in 1910. The brick exterior is intact with select areas needing tuckpointing. Water heater is 3 years old. Property needs interior renovation including flooring, paint, drywall repair, and roof replacement. Priced to reflect condition.

Key facts

• Tuckpointing
• Interior renovation
• Roof replacement

Tags

• BRICK CONSTRUCTION
• INTERIOR RENOVATION
• ROOF REPLACEMENT
• TUCKPOINTING

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $75k.

Deal economics

• At list price, monthly cash flow is $390 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $75k).
• Recommended offer: $74k (1.5% below list) — sets the bar for market timing.
• Cap rate 12.5% vs local median 2.8% in Loogootee — 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 74/100 on livability (#74 in IN, #4,663 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: employment D, amenities F, commute F.
• Loogootee Community School Corporation (rural): math 42% / reading 48% proficiency, ranked #97 of 301 in IN (top 32%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 63 active listings in the ZIP; 2 units permitted in Martin County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $3k of equity ($519 loan paydown + $2k appreciation (3.0% local appreciation)).
• Martin County population projected at -22% 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 $21k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 18 days — a 2% lower offer ($74k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 4y 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 1910 — 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 $73,875 (1.5% below list)

Questions for the listing agent

1. Built in 1910 — 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 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: 1.48% ✓
• Cap rate: 12.54%
• Cash-on-cash: 22.30%
• DSCR: 1.99
• GRM: 5.6

CMA / ARV

• ARV (median comp): $260,643
• List price: $75,000
• Delta: -73.14%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 11 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
508 E Broadway St	0.21mi	3/2.5	1,456 (+0%)	4mo	$220,000	$151	84
136 Church St	0.21mi	3/2.0	1,392 (-4%)	14mo	$179,900	$129	72
605 N Line St	0.47mi	4/1.5 (+1)	1,440 (-1%)	22mo	$205,100	$142	51
823 N Clark St	0.65mi	3/2.0	1,392 (-4%)	16mo	$225,000	$162	49
109 Mulberry St	0.46mi	3/1.5	1,612 (+11%)	12mo	$160,000	$99	48
208 Sycamore St	0.47mi	4/2.0 (+1)	1,608 (+11%)	9mo	$185,000	$115	48
229 SE First St	0.18mi	3/2.0	1,668 (+15%)	24mo	$227,000	$136	47
512 E Broadway St	0.24mi	4/1.5 (+1)	1,632 (+12%)	17mo	$90,000	$55	47
608 Church St	0.51mi	3/1.5	1,597 (+10%)	16mo	$185,000	$116	45
306 SE 1st St	0.22mi	3/1.0	1,250 (-14%)	22mo	$132,500	$106	44
900 N Line St St	0.57mi	2/1.0 (-1)	1,417 (-2%)	22mo	$162,500	$115	42

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

3.02% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 28.5%
• Equity multiple: 2.62×
• Total profit: $33,947
• Equity at exit: $33,790

10-year hold

• IRR: 29.0%
• Equity multiple: 5.09×
• Total profit: $85,944
• Equity at exit: $52,127

Cash invested: $21,000 (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 47553

• Home prices YoY: 1.4%
• Active inventory: 63
• Price-to-rent: 5.6×

Monthly cashflow live

• Estimated rent: $1,107 medium
• Mortgage (P&I): −$393
• Tax from tax record: −$60 /mo · $717/yr
• Insurance: −$31
• HOA: −$0
• Vacancy / Maint / Mgmt: −$232
• Net cashflow: $390

Break-even live

Break-even rent $613

Max offer price $75,000

Occupancy floor 60%

Sensitivity live

Price	-10% $433	-5% $411	+0% $390	+5% $369	+10% $348
Rent	-10% $303	-5% $346	+0% $390	+5% $434	+10% $478
Rate	-1.0pp $428	-0.5pp $409	base $390	+0.5pp $371	+1.0pp $351

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: $18,750
• Closing costs: $2,250
• Reserves months: —
• Total cash needed: —

Listing history 8 events

1. 2026-06-09
   pricedays on marketlisting id $75,000 Pending 18 DOM
2. 2026-05-08
   status Pending 419-char remark

   Show marketing remark (419 chars)

   Solid bones, brick construction, and a clear scope of work. This 3-bedroom, 2-bath home in Loogootee sits on a generous 8,700 SF lot and offers 1,400 square feet of living space built in 1910. The brick exterior is intact with select areas needing tuckpointing. Water heater is 3 years old. Property needs interior renovation including flooring, paint, drywall repair, and roof replacement. Priced to reflect condition.

3. 2026-05-07
   status Pending 424-char remark

   Show marketing remark (424 chars)

   Solid bones, brick construction, and a clear scope of work. This 3-bedroom, 2-bath home in Loogootee sits on a generous 8,700 SF lot and offers 1,400 square feet of living space built in 1910. The brick exterior is intact with select areas needing tuckpointing. Water heater is 3 years old. Property needs interior renovation including flooring, paint, drywall repair, and roof replacement. Priced to reflect condition.

4. 2026-05-05
   price $70,000 424-char remark

   Show marketing remark (424 chars)

   Solid bones, brick construction, and a clear scope of work. This 3-bedroom, 2-bath home in Loogootee sits on a generous 8,700 SF lot and offers 1,400 square feet of living space built in 1910. The brick exterior is intact with select areas needing tuckpointing. Water heater is 3 years old. Property needs interior renovation including flooring, paint, drywall repair, and roof replacement. Priced to reflect condition.

5. 2026-04-20
   listed $75,000 Active 419-char remark

   Show marketing remark (419 chars)

   Solid bones, brick construction, and a clear scope of work. This 3-bedroom, 2-bath home in Loogootee sits on a generous 8,700 SF lot and offers 1,400 square feet of living space built in 1910. The brick exterior is intact with select areas needing tuckpointing. Water heater is 3 years old. Property needs interior renovation including flooring, paint, drywall repair, and roof replacement. Priced to reflect condition.

6. 2026-04-10
   listed $75,000 Active 424-char remark

   Show marketing remark (424 chars)

   Solid bones, brick construction, and a clear scope of work. This 3-bedroom, 2-bath home in Loogootee sits on a generous 8,700 SF lot and offers 1,400 square feet of living space built in 1910. The brick exterior is intact with select areas needing tuckpointing. Water heater is 3 years old. Property needs interior renovation including flooring, paint, drywall repair, and roof replacement. Priced to reflect condition.

7. 2023-09-13
   listed $65,000 Active
8. 2022-07-06
   listed $62,000 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: $717 · $60/mo
• Projected year-2 tax: $717 · $60/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 ≥105°F today · 19 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% 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: $13,284
• − Mortgage interest: −$4,201
• − Property taxes: −$717
• − Insurance: −$375
• − Repairs & maintenance: −$1,063
• − Management: −$1,063
• − Depreciation: −$2,182
• Taxable income: $3,683
• Est. tax owed @ 24.0%: −$884
• After-tax cash flow: $3,799/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: Loogootee Community School Corporation
• NCES district ID: 1806060
• Math proficiency: 42% ▼ -10.00%
• Reading proficiency: 48% ▼ -6.00%
• Median HH income: $47,513
• Composite: 38.38/100
• National rank: #4209
• State rank: #97 of 301 in IN

Livability — Loogootee

• Score: 74/100
• State rank: #74
• US rank: #4663

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Loogootee, IN
• Population (ZIP): 8,613

Population outlook (Martin County) Hauer SSP2

• Today (2025): 9,585 people
• By 2030: 9,198 · -4.0%
• By 2040: 8,365 · -12.7%
• By 2050: 7,518 · -21.6%
• By 2075: 5,674 · -40.8%
• By 2100: 3,916 · -59.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (95%)
• Race & ethnicity: White 95% Two or more races 2% Hispanic / Latino 1%
• Common ancestry: Italian 5% Slovak 3% Lithuanian 2%
• Foreign-born: 1%
• Languages at home: 89% English-only · German/W. Germanic 10% Spanish 1%

Political lean MEDSL · Martin

• 2024 margin: Solid R (+60.7) · D 18.7% · R 79.4% · Other 1.9%
• 2008→2024 swing: -31.8pp toward R · 2008: -28.9pp · 2024: -60.7pp
• All cycles: 2024: R+60.7 2020: R+58.7 2016: R+58.5 2012: R+40.3 2008: R+28.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 3.02%
• Current HPI: 217.7385
• 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

+12.9% since first listed

7 events — show timeline

• 2026-05-08 Pending — IRMLS
• 2026-05-07 Pending — MIBOR as Distributed by MLS Grid
• 2026-05-05 Price Changed $70,000 MIBOR as Distributed by MLS Grid
• 2026-04-20 Listed $75,000 IRMLS
• 2026-04-10 Listed $75,000 MIBOR as Distributed by MLS Grid
• 2023-09-13 Listed $65,000 IRMLS
• 2022-07-06 Listed $62,000 IRMLS

Property tax history

+6.4%/yr

Latest (2024): $717 · +20.9% YoY. Source: county tax records.