4213 Main St · Coal City, IN 47427

$85,000

3 bd · 1.0 ba · 1,120 sqft · SingleFamily public records · 216 Days on market

Built 1962 0.30 ac lot $76/sqft · 36% below area Est $132k · 36% under ↓ 23% since listing

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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 +28.3/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• Appreciation +8.4/10.0
• 1% rule +6.6/10.0
• Schools +3.3/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Looking for your next investment or renovation project? This 3b/2ba home in the heart of Coal City offers endless potential for the right buyer. Set on a spacious lot (two) with mature trees and small-town charm, this property is ready for someone with vision to bring it back to life. While the home has not been recently maintained and details on major mechanicals are unknown, it provides a solid starting point for investors, flippers, or handy homeowners looking to build equity. With a bit of TLC, this could become a great rental, starter home, or resale opportunity.Located just a short drive from Bloomfield, Worthington, and Spencer, you'll enjoy the quiet pace of small-town living while still being close to local amenities. Spacious yard and Convenient location near schools and local shops Bring your tools, your creativity, and your plans - this Coal City property is waiting for its next chapter! Property being sold as-is.

Key facts

• Spacious lot
• Convenient location
• Mature trees

Tags

• SPACIOUS LOT
• MATURE TREES
• CONVENIENT LOCATION

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $85k.

Deal economics

• At list price, monthly cash flow is $272 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($987 rent vs $85k).
• Recommended offer: $75k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads: area grade B — affects rentability + tenant quality, not the cash-flow math above.
• Spencer-Owen Community Schools (rural): math 38% / reading 40% proficiency, ranked #155 of 301 in IN (top 52%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Patricksburg Elementary School (math 42% / reading 37%, grade F, #500 of 994 statewide, top 53%, 129 students, 77% FRL); Owen Valley Middle School (math 22% / reading 36%, grade F, #222 of 330 statewide, top 67%, 344 students, 55% FRL); Owen Valley Community High School (math 42% / reading 62%, grade D+, #106 of 369 statewide, top 31%, 671 students, 51% FRL) — zoned schools average 61% FRL vs 44% district-wide (17 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 9 active listings in the ZIP; 120 units permitted in Owen County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $6k of equity ($588 loan paydown + $6k appreciation (6.9% local appreciation)).
• Owen County population projected at -30% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (6.9% appreciation + 3.0% rent growth), your $24k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 6, paydown + projected appreciation supports a ~$35k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 216 days — a 12% lower offer ($75k) is reasonable based on typical stale-listing flexibility.

Recommended offer $74,800 (12.0% below list)

Questions for the listing agent

1. It's been on market 216 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1962 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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.
6. 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.
7. 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: 1.16% ✓
• Cap rate: 10.13%
• Cash-on-cash: 13.71%
• DSCR: 1.61
• GRM: 7.2

CMA / ARV

• ARV (median comp): $132,253
• List price: $85,000
• Delta: -35.73%
• Verdict: UNDERPRICED
• Comps: 3 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
4049 Main St	0.17mi	2/1.0 (-1)	978 (-13%)	21mo	$40,000	$41	48

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

Projected returns pro-forma

6.86% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 28.5%
• Equity multiple: 2.94×
• Total profit: $46,245
• Equity at exit: $58,133

10-year hold

• IRR: 26.0%
• Equity multiple: 6.10×
• Total profit: $121,468
• Equity at exit: $109,737

Cash invested: $23,800 (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 47427

• Home prices YoY: 2.9%
• Active inventory: 9
• Price-to-rent: 7.2×

Monthly cashflow live

• Estimated rent: $987 medium
• Mortgage (P&I): −$446
• Tax from tax record: −$26 /mo · $318/yr
• Insurance: −$35
• HOA: −$0
• Vacancy / Maint / Mgmt: −$207
• Net cashflow: $272

Break-even live

Break-even rent $643

Max offer price $85,000

Occupancy floor 67%

Sensitivity live

Price	-10% $320	-5% $296	+0% $272	+5% $248	+10% $224
Rent	-10% $194	-5% $233	+0% $272	+5% $311	+10% $350
Rate	-1.0pp $315	-0.5pp $294	base $272	+0.5pp $250	+1.0pp $228

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: $21,250
• Closing costs: $2,550
• Reserves months: —
• Total cash needed: —

Listing history 4 events

1. 2026-05-30
   days on market $85,000 Active 216 DOM
2. 2026-04-04
   price $85,000 942-char remark

   Show marketing remark (942 chars)

   Looking for your next investment or renovation project? This 3b/2ba home in the heart of Coal City offers endless potential for the right buyer. Set on a spacious lot (two) with mature trees and small-town charm, this property is ready for someone with vision to bring it back to life. While the home has not been recently maintained and details on major mechanicals are unknown, it provides a solid starting point for investors, flippers, or handy homeowners looking to build equity. With a bit of TLC, this could become a great rental, starter home, or resale opportunity.Located just a short drive from Bloomfield, Worthington, and Spencer, you'll enjoy the quiet pace of small-town living while still being close to local amenities. Spacious yard and Convenient location near schools and local shops Bring your tools, your creativity, and your plans - this Coal City property is waiting for its next chapter! Property being sold as-is.

3. 2026-01-30
   price $99,000 942-char remark

   Show marketing remark (942 chars)

   Looking for your next investment or renovation project? This 3b/2ba home in the heart of Coal City offers endless potential for the right buyer. Set on a spacious lot (two) with mature trees and small-town charm, this property is ready for someone with vision to bring it back to life. While the home has not been recently maintained and details on major mechanicals are unknown, it provides a solid starting point for investors, flippers, or handy homeowners looking to build equity. With a bit of TLC, this could become a great rental, starter home, or resale opportunity.Located just a short drive from Bloomfield, Worthington, and Spencer, you'll enjoy the quiet pace of small-town living while still being close to local amenities. Spacious yard and Convenient location near schools and local shops Bring your tools, your creativity, and your plans - this Coal City property is waiting for its next chapter! Property being sold as-is.

4. 2025-10-24
   listed $110,000 Active 942-char remark

   Show marketing remark (942 chars)

   Looking for your next investment or renovation project? This 3b/2ba home in the heart of Coal City offers endless potential for the right buyer. Set on a spacious lot (two) with mature trees and small-town charm, this property is ready for someone with vision to bring it back to life. While the home has not been recently maintained and details on major mechanicals are unknown, it provides a solid starting point for investors, flippers, or handy homeowners looking to build equity. With a bit of TLC, this could become a great rental, starter home, or resale opportunity.Located just a short drive from Bloomfield, Worthington, and Spencer, you'll enjoy the quiet pace of small-town living while still being close to local amenities. Spacious yard and Convenient location near schools and local shops Bring your tools, your creativity, and your plans - this Coal City property is waiting for its next chapter! Property being sold as-is.

ⓘ 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: $318 · $26/mo
• Projected year-2 tax: $520 · $43/mo
• Expected delta: +$202/yr (+$17/mo · 63.7%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 4/10 Moderate 7 d/yr ≥104°F today · 18 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: $11,842
• − Mortgage interest: −$4,761
• − Property taxes: −$318
• − Insurance: −$425
• − Repairs & maintenance: −$947
• − Management: −$947
• − Depreciation: −$2,473
• Taxable income: $1,970
• Est. tax owed @ 24.0%: −$473
• After-tax cash flow: $2,791/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: Spencer-Owen Community Schools
• NCES district ID: 1810950
• Math proficiency: 38% ▼ -6.00%
• Reading proficiency: 40% ▼ -6.00%
• Median HH income: $45,258
• Composite: 33.21/100
• National rank: #5529
• State rank: #155 of 301 in IN

Livability — Coal City

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

Census & demographics

• Census place: Coal City, IN
• Population (ZIP): 850

Population outlook (Owen County) Hauer SSP2

• Today (2025): 19,045 people
• By 2030: 17,930 · -5.9%
• By 2040: 15,507 · -18.6%
• By 2050: 13,253 · -30.4%
• By 2075: 9,364 · -50.8%
• By 2100: 6,686 · -64.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (98%)
• Race & ethnicity: White 98% Asian 2%
• Common ancestry: Iranian 5% Lithuanian 3% Russian 1%
• Foreign-born: 1%
• Languages at home: 99% English-only · Other Asian/Pacific 1%

Political lean MEDSL · Owen

• 2024 margin: Solid R (+50.7) · D 23.8% · R 74.5% · Other 1.6%
• 2008→2024 swing: -40.3pp toward R · 2008: -10.3pp · 2024: -50.7pp
• All cycles: 2024: R+50.7 2020: R+49.1 2016: R+49.4 2012: R+27.6 2008: R+10.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 6.86%
• Current HPI: 246.8425
• 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

-22.7% since first listed

3 events — show timeline

• 2026-04-04 Price Changed $85,000 MIBOR as Distributed by MLS Grid
• 2026-01-30 Price Changed $99,000 MIBOR as Distributed by MLS Grid
• 2025-10-24 Listed $110,000 MIBOR as Distributed by MLS Grid

Property tax history

+5.0%/yr

Latest (2024): $318 · +15.9% YoY. Source: county tax records.