1243 E State Road 26 · Cutler, IN 46041

$123,000

3 bd · 1.0 ba · 2,099 sqft · SingleFamily public records · 27 Days on market

Built 1968 1.77 ac lot Est $126k · at est.

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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 +27.1/30.0
• DSCR +9.4/10.0
• ARV discount +8.6/15.0
• 1% rule +6.7/10.0
• Schools +4.2/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Come tour this farmhouse on 2 acres of gorgeous land! Barn for your toys or animals. This farm has a lot of potential! 9 ft ceilings, spacious rooms, 4 bedrooms with a loft area. Nice wrap around porch. 2 sheds, one car detached garage. This home will not pass FHA, VA or USDA.

Key facts

• Wrap around porch
• Barn
• 2 acres

Tags

• 2 ACRES
• BARN
• LOFT AREA
• WRAP AROUND PORCH
• 2 SHEDS
• ONE CAR DETACHED GARAGE

Property features AI

Finance

• Other: Property sits on approximately 1.77 acres
• Financial info: Financial details not provided
• HOA & community: No subdivision / HOA

Exterior

• Parking: Detached 1-car garage
• Security: Security details not provided
• Utilities: Private well water; Septic tank sewer
• Home design: Single-family residence, site-built; Two-story
• Construction: Vinyl siding; Built details not provided
• Exterior features: Level lot

Interior

• Kitchen: Kitchen details not provided
• Bedrooms: Bedrooms information not provided
• Flooring: Flooring details not provided
• Bathrooms: One half bathroom; One main-level bathroom
• Heating & cooling: No heating specified; No cooling specified
• Interior features: 7 total rooms; Unfinished basement
• Laundry & utility: Laundry located in basement

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $123k.

Deal economics

• At list price, monthly cash flow is $347 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $123k).
• Recommended offer: $121k (1.5% below list) — sets the bar for market timing.

Location & tenants

• Location reads: area grade C — affects rentability + tenant quality, not the cash-flow math above.
• Rossville Consolidated School District (rural): math 40% / reading 56% proficiency, ranked #65 of 301 in IN (top 22%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; only 19% free/reduced lunch — higher-income household profile.
• Zoned schools: Rossville Elementary School (math 57% / reading 55%, grade C+, #183 of 994 statewide, top 19%, 472 students, 36% FRL); Rossville Middle/Senior High Sch (math 27% / reading 56%, grade F, #211 of 369 statewide, top 58%, 488 students, 26% FRL).
• Market conditions: 129 active listings in the ZIP; 59 units permitted in Clinton County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $850 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Clinton County population projected at -15% 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 $34k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 27 days — a 2% lower offer ($121k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 3y 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.

Recommended offer $121,155 (1.5% below list)

Questions for the listing agent

1. Built in 1968 — 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: 1.17% ✓
• Cap rate: 9.68%
• Cash-on-cash: 12.08%
• DSCR: 1.54
• GRM: 7.1

CMA / ARV

• ARV (on-the-fly): $125,940
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1243 E State Road 26	0.00mi	3/0.5	2,099 (0%)	0mo	$125,000	$60	98

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: 1.6%
• Equity multiple: 1.06×
• Total profit: $2,138
• Equity at exit: $18,340

10-year hold

• IRR: 11.2%
• Equity multiple: 1.88×
• Total profit: $30,233
• Equity at exit: $10,635

Cash invested: $34,440 (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 46041

• Home prices YoY: -17.8%
• Active inventory: 129
• Price-to-rent: 7.1×

Monthly cashflow live

• Estimated rent: $1,435 medium
• Mortgage (P&I): −$645
• Tax from tax record: −$91 /mo · $1,091/yr
• Insurance: −$51
• HOA: −$0
• Vacancy / Maint / Mgmt: −$301
• Net cashflow: $347

Break-even live

Break-even rent $996

Max offer price $123,000

Occupancy floor 71%

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: $30,750
• Closing costs: $3,690
• Reserves months: —
• Total cash needed: —

Listing history 10 events

1. 2026-04-12
   status Pending
2. 2026-04-10
   historical Active Under Contract
3. 2026-03-16
   listed $123,000 Active
4. 2023-12-15
   soldstatus $152,500 Closed 279-char remark

   Show marketing remark (279 chars)

   Come tour this farmhouse on 2 acres of gorgeous land! Barn for your toys or animals. This farm has a lot of potential! 9 ft ceilings, spacious rooms, 4 bedrooms with a loft area. Nice wrap around porch. 2 sheds, one car detached garage. This home will not pass FHA, VA or USDA.

5. 2023-11-03
   historical Active Under Contract 279-char remark

   Show marketing remark (279 chars)

   Come tour this farmhouse on 2 acres of gorgeous land! Barn for your toys or animals. This farm has a lot of potential! 9 ft ceilings, spacious rooms, 4 bedrooms with a loft area. Nice wrap around porch. 2 sheds, one car detached garage. This home will not pass FHA, VA or USDA.

6. 2023-10-21
   price $179,900 279-char remark

   Show marketing remark (279 chars)

   Come tour this farmhouse on 2 acres of gorgeous land! Barn for your toys or animals. This farm has a lot of potential! 9 ft ceilings, spacious rooms, 4 bedrooms with a loft area. Nice wrap around porch. 2 sheds, one car detached garage. This home will not pass FHA, VA or USDA.

7. 2023-10-09
   status Active 279-char remark

   Show marketing remark (279 chars)

   Come tour this farmhouse on 2 acres of gorgeous land! Barn for your toys or animals. This farm has a lot of potential! 9 ft ceilings, spacious rooms, 4 bedrooms with a loft area. Nice wrap around porch. 2 sheds, one car detached garage. This home will not pass FHA, VA or USDA.

8. 2023-10-04
   historical Active Under Contract 279-char remark

   Show marketing remark (279 chars)

   Come tour this farmhouse on 2 acres of gorgeous land! Barn for your toys or animals. This farm has a lot of potential! 9 ft ceilings, spacious rooms, 4 bedrooms with a loft area. Nice wrap around porch. 2 sheds, one car detached garage. This home will not pass FHA, VA or USDA.

9. 2023-09-29
   listed $189,900 Active 279-char remark

   Show marketing remark (279 chars)

   Come tour this farmhouse on 2 acres of gorgeous land! Barn for your toys or animals. This farm has a lot of potential! 9 ft ceilings, spacious rooms, 4 bedrooms with a loft area. Nice wrap around porch. 2 sheds, one car detached garage. This home will not pass FHA, VA or USDA.

10. 2019-12-05
    soldstatus $27,000

ⓘ 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: $1,091 · $91/mo
• Projected year-2 tax: $1,091 · $91/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 3/10 Moderate 7 d/yr ≥100°F today · 18 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: $17,224
• − Mortgage interest: −$6,890
• − Property taxes: −$1,091
• − Insurance: −$615
• − Repairs & maintenance: −$1,378
• − Management: −$1,378
• − Depreciation: −$3,578
• Taxable income: $2,295
• Est. tax owed @ 24.0%: −$551
• After-tax cash flow: $3,611/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: Rossville Consolidated School District
• NCES district ID: 1809720
• Math proficiency: 40% ▼ -11.00%
• Reading proficiency: 56% ▬ 0.00%
• Median HH income: $60,778
• Composite: 42.09/100
• National rank: #3318
• State rank: #65 of 301 in IN

Livability — Cutler

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• Population (ZIP): 23,359

Population outlook (Clinton County) Hauer SSP2

• Today (2025): 31,197 people
• By 2030: 30,257 · -3.0%
• By 2040: 28,383 · -9.0%
• By 2050: 26,644 · -14.6%
• By 2075: 23,858 · -23.5%
• By 2100: 22,236 · -28.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (73%)
• Race & ethnicity: White 73% Hispanic / Latino 24% Two or more races 11%
• Hispanic origin (detail): Mexican 22%
• Common ancestry: Iranian 1% Italian 1% Slovak 1%
• Foreign-born: 11% · Canada, Philippines
• Languages at home: 86% English-only · Spanish 14%

Political lean MEDSL · Clinton

• 2024 margin: Solid R (+48.0) · D 25.2% · R 73.2% · Other 1.6%
• 2008→2024 swing: -35.0pp toward R · 2008: -13.0pp · 2024: -48.0pp
• All cycles: 2024: R+48.0 2020: R+46.1 2016: R+48.0 2012: R+30.7 2008: R+13.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -57.02%
• Current HPI: 263.2258
• 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

+355.6% since first listed

10 events — show timeline

• 2026-04-12 Pending — IRMLS
• 2026-04-10 Contingent — IRMLS
• 2026-03-16 Listed $123,000 IRMLS
• 2023-12-15 Sold (MLS) $152,500 IRMLS
• 2023-11-03 Contingent — IRMLS
• 2023-10-21 Price Changed $179,900 IRMLS
• 2023-10-09 Relisted — IRMLS
• 2023-10-04 Contingent — IRMLS
• 2023-09-29 Listed $189,900 IRMLS
• 2019-12-05 Sold (Public Records) $27,000 Public Records

Property tax history

+4.3%/yr

Latest (2024): $1,091 · +11.5% YoY. Source: county tax records.