1702 1704 24th St · Bedford, IN 47421

$199,900

3 bd · 3.0 ba · 1,816 sqft · MultiFamily public records · 43 Days on market

Built 1920 Fair condition 3,240 sqft lot $110/sqft · 52% above area

---

Why this score? — see what drove the D+ 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 +16.3/30.0
• ARV discount +7.5/15.0
• DSCR +5.0/10.0
• 1% rule +4.6/10.0
• Livability +4.0/5.0
• Schools +3.2/10.0
• Rent growth +2.5/5.0
• Condition / age +2.2/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks MLS

Investment Opportunity - Fully Occupied Duplex with Upside Potential! Don't miss this excellent income-producing duplex featuring stable tenants and strong future cash-flow potential. Both units are currently occupied on month-to-month leases, offering flexibility for investors or owner-occupants alike. One long-term tenant has called the property home for over seven years, reflecting the stability and desirability of the property. This well-maintained duplex offers a total of 3 bedrooms and 3 bathrooms, including: One spacious 2 bed / 2 bath unit One comfortable 1 bed / 1 bath unit Each unit includes: Laundry hookups Kitchen appliances included Functional layouts designed for comfortable living Current rents are below market value, creating an outstanding opportunity for investors to increase income potential over time. For added peace of mind, the seller is including a home warranty, providing extra protection and confidence for the new owner. Whether you're looking to expand your portfolio or step into multifamily investing, this duplex offers immediate rental income with room for growth.

Key facts

• 3,240 sq ft lot
• Built 1920
• Listed 42 days

Property features AI

Finance

• Financial info: Two-unit property; Each unit listed with a monthly rent of $775; Owner pays water; Reported gross income and expenses listed as 0

Exterior

• Parking: Parking lot
• Utilities: Electric hot water; Solid waste: No
• Home design: Residential income property (duplex)
• Construction: Lot under 1/4 acre
• Exterior features: Frontage road access; City street access; Asphalt road surface

Interior

• Kitchen: Dishwasher; Disposal; Range/oven; Refrigerator
• Bedrooms: One 2-bedroom unit; One 1-bedroom unit
• Heating & cooling: Central air (in at least one unit); Central heat pump (in at least one unit); Forced air heating (in at least one unit); Wall air unit (in one unit); Other heating in one unit
• Interior features: Has basement; Property conversion (previously converted to residential income use)
• Laundry & utility: Washer and dryer connections in both units; Washer; Dryer; Electric hot water

What this means for you Summary

Snapshot

• This is a 1×2bd/2ba + 1×1bd/1ba units multifamily listed at $200k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $110 ($1k/yr) — positive. Per door: $55/mo.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $191k (4.4% below list).
• Recommended offer: $191k (4.4% below list) — sets the bar for 1% rule.
• Cap rate 7.0% vs local median 4.2% in Bedford — 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 80/100 on livability (#23 in IN, #1,958 nationally) — a professional / high-income tenant draw. Strengths: crime A+, cost of living A+, housing A+; Watch: employment D, commute F.
• North Lawrence Community Schools (rural): math 35% / reading 40% proficiency, ranked #170 of 301 in IN (top 56%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Lincoln Elementary School (math 31% / reading 35%, grade F, #639 of 994 statewide, top 65%, 322 students, 64% FRL); Bedford-North Lawrence High School (math 38% / reading 63%, grade D+, #117 of 369 statewide, top 32%, 1,303 students, 46% FRL) — zoned schools average 55% FRL vs 40% district-wide (15 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 158 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 8 units permitted in Lawrence County in 2024 (0 in 5+ unit buildings).
• This rent runs 34% of the median local income ($68k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• Lawrence County population projected at -14% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 43 days — a 3% lower offer ($194k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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 1920 — 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 $191,200 (4.4% below list)

Questions for the listing agent

1. It's been on market 43 days. Have you received any prior offers? Is the seller open to a 4% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
5. Built in 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
8. 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.
9. 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.
10. 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: 0.96% ✗
• Cap rate: 6.95%
• Cash-on-cash: 2.36%
• DSCR: 1.10
• GRM: 8.7

CMA / ARV

• ARV (median comp): $131,490
• List price: $199,900
• Delta: 52.03%
• Verdict: OVERPRICED
• Comps: 3 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -12.5%
• Equity multiple: 0.55×
• Total profit: $-25,342
• Equity at exit: $29,806

10-year hold

• IRR: -3.4%
• Equity multiple: 0.77×
• Total profit: $-12,877
• Equity at exit: $17,284

Cash invested: $55,972 (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 47421

• Home prices YoY: -25.2%
• Active inventory: 158
• Price-to-rent: 16.5×

Monthly cashflow live

• Estimated rent: $1,912 medium
• Mortgage (P&I): −$1,048
• Tax from tax record: −$269 /mo · $3,226/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$402
• Net cashflow: $110

Break-even live

Break-even rent $1,773

Max offer price $199,900

Occupancy floor 89%

Sensitivity live

Price	-10% $223	-5% $167	+0% $110	+5% $53	+10% $-3
Rent	-10% $-41	-5% $35	+0% $110	+5% $186	+10% $261
Rate	-1.0pp $211	-0.5pp $161	base $110	+0.5pp $58	+1.0pp $6

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
1× unit	2	2	$1,010
1× unit	1	1	$902
Total (2 units)			$1,912

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: $49,975
• Closing costs: $5,997
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2115 G St Bedford, IN	3.0	2.0	1500	$1,750	$1.17	21d	1	0.84mi

Listing history 19 events

1. 2026-06-19
   days on market $199,900 Active 43 DOM
2. 2026-06-18
   days on market $199,900 Active 42 DOM
3. 2026-06-17
   days on market $199,900 Active 41 DOM
4. 2026-06-16
   days on market $199,900 Active 40 DOM
5. 2026-06-15
   days on market $199,900 Active 39 DOM
6. 2026-06-14
   days on market $199,900 Active 37 DOM
7. 2026-06-13
   days on market $199,900 Active 36 DOM
8. 2026-06-10
   days on market $199,900 Active 34 DOM
9. 2026-06-09
   days on market $199,900 Active 33 DOM
10. 2026-06-08
    days on market $199,900 Active 32 DOM
11. 2026-06-07
    days on market $199,900 Active 31 DOM
12. 2026-06-05
    days on market $199,900 Active 28 DOM
13. 2026-06-03
    days on market $199,900 Active 27 DOM
14. 2026-06-02
    days on market $199,900 Active 26 DOM
15. 2026-06-01
    days on market $199,900 Active 25 DOM
16. 2026-05-31
    days on market $199,900 Active 24 DOM
17. 2026-05-30
    days on market $199,900 Active 23 DOM
18. 2026-05-08
    listed $199,900 Active 1108-char remark

    Show marketing remark (1108 chars)

    Investment Opportunity - Fully Occupied Duplex with Upside Potential! Don't miss this excellent income-producing duplex featuring stable tenants and strong future cash-flow potential. Both units are currently occupied on month-to-month leases, offering flexibility for investors or owner-occupants alike. One long-term tenant has called the property home for over seven years, reflecting the stability and desirability of the property. This well-maintained duplex offers a total of 3 bedrooms and 3 bathrooms, including: One spacious 2 bed / 2 bath unit One comfortable 1 bed / 1 bath unit Each unit includes: Laundry hookups Kitchen appliances included Functional layouts designed for comfortable living Current rents are below market value, creating an outstanding opportunity for investors to increase income potential over time. For added peace of mind, the seller is including a home warranty, providing extra protection and confidence for the new owner. Whether you're looking to expand your portfolio or step into multifamily investing, this duplex offers immediate rental income with room for growth.

19. 2026-05-05
    listed $199,900 Active 1135-char remark

ⓘ 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: $3,226 · $269/mo
• Projected year-2 tax: $3,226 · $269/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 ≥104°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 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $22,944
• − Mortgage interest: −$11,198
• − Property taxes: −$3,226
• − Insurance: −$1,000
• − Repairs & maintenance: −$1,836
• − Management: −$1,836
• − Depreciation: −$5,815
• Taxable loss: −$1,965
• Est. tax savings @ 24.0%: +$472
• After-tax cash flow: $1,792/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.

Condition & rehab AI · 12 photos

Fair 45/100 Moderate rehab

This fully occupied duplex requires moderate repairs and maintenance, particularly to the exterior siding and flooring, to improve its condition and value.

Repairs flagged

• Major Exterior siding — Weathered and in need of repair.
• Moderate Flooring — Worn and in need of replacement or refinishing.
• Minor Paint — Faded in some areas, could be refreshed with a fresh coat.

Value-add opportunities

• Both Painting and touch-up of exterior siding — Fresh paint and repairs to siding would improve curb appeal and value.
• Both Floor refinishing or replacement — New flooring would enhance the living spaces and increase appeal.
• Both Landscaping and curb appeal improvements — A well-maintained landscape would significantly boost the property's curb appeal and value.
• Both Kitchen and bathroom organization — Organizing countertops and cabinets would make the spaces more functional and visually appealing, increasing both resale and rental value.

Renovation cost estimate screening

Repair item	Severity	Est. cost
Exterior siding · Weathered and in need of repair.	Major	$15,000–50,000
Flooring · Worn and in need of replacement or refinishing.	Moderate	$3,000–15,000
Paint · Faded in some areas, could be refreshed with a fresh coat.	Minor	$500–3,000
Total estimated repair cost · 3 items		$18,500–68,000

Value-add ROI direction

• Both Painting and touch-up of exterior siding — Fresh paint and repairs to siding would improve curb appeal and value. ↑
• Both Floor refinishing or replacement — New flooring would enhance the living spaces and increase appeal. ↑
• Both Landscaping and curb appeal improvements — A well-maintained landscape would significantly boost the property's curb appeal and value. ↑
• Both Kitchen and bathroom organization — Organizing countertops and cabinets would make the spaces more functional and visually appealing, increasing both resale and rental value. ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: North Lawrence Community Schools
• NCES district ID: 1807860
• Math proficiency: 35% ▼ -2.00%
• Reading proficiency: 40% ▼ -3.00%
• Median HH income: $44,566
• Composite: 31.88/100
• National rank: #5864
• State rank: #170 of 301 in IN

Livability — Bedford

• Score: 80/100
• State rank: #23
• US rank: #1958

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Bedford, IN
• County: Lawrence County · 27,599 people
• City population: 27,599
• Metro: Bedford, IN
• Population (ZIP): 27,599
• Household income: $68,108
• Rent vs Own: 20.0% rent · 80.0% own
• Severe rent burden: 507.0

Population outlook (Lawrence County) Hauer SSP2

• Today (2025): 44,347 people
• By 2030: 43,331 · -2.3%
• By 2040: 40,887 · -7.8%
• By 2050: 38,297 · -13.6%
• By 2075: 32,479 · -26.8%
• By 2100: 26,051 · -41.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (94%)
• Race & ethnicity: White 94% Two or more races 4% Hispanic / Latino 2%
• Common ancestry: Slovak 3% Italian 2% Scotch-Irish 1%
• Foreign-born: 1% · Canada
• Languages at home: 99% English-only · Spanish 1%

Political lean MEDSL · Lawrence

• 2024 margin: Solid R (+51.0) · D 23.6% · R 74.6% · Other 1.7%
• 2008→2024 swing: -30.5pp toward R · 2008: -20.6pp · 2024: -51.0pp
• All cycles: 2024: R+51.0 2020: R+50.6 2016: R+51.5 2012: R+32.8 2008: R+20.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -81.32%
• Current HPI: 240.959
• Rent YoY: —
• Metro: Bedford, 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

+0.0% since first listed

2 events — show timeline

• 2026-05-08 Listed $199,900 IRMLS
• 2026-05-05 Listed $199,900 MIBOR as Distributed by MLS Grid

Property tax history

+7.2%/yr

Latest (2025): $3,226 · +6.5% YoY. Source: county tax records.