7276 S State Road 17 Rd · Kewanna, IN 46939

$79,000

4 bd · 1.0 ba · 1,792 sqft · SingleFamily public records · 164 Days on market

Built 1937 0.55 ac lot $44/sqft · 127% above 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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Livability +2.9/5.0
• Schools +2.6/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +1.0/10.0

Listing remarks MLS

Discover the potential at 7276 S State Road 17 in Kewanna, Indiana. Situated on a spacious lot with country surroundings, this property offers a great opportunity for investors, renovators, or buyers looking to create their own rural retreat. The convenient highway frontage provides easy access while still delivering the privacy and charm of country living. The home features a functional layout with room to add value through updates and improvements. With the right vision, this property could be transformed into a comfortable primary residence, rental, or investment project. Enjoy the peaceful setting, open space, and the freedom that comes with a rural location, all while being a short drive to Kewanna and surrounding communities. Please see agent remarks

Key facts

• Highway frontage
• Easy access
• Privacy

Tags

• SPACIOUS LOT
• HIGHWAY FRONTAGE
• EASY ACCESS
• PRIVACY
• FUNCTIONAL LAYOUT
• PEACEFUL SETTING

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $79k.

Deal economics

• At list price, monthly cash flow is $485 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $79k).
• Recommended offer: $70k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 57/100 on livability (#613 in IN) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A; Watch: schools F, crime D-, amenities F.
• Caston School Corporation (rural): math 27% / reading 33% proficiency, ranked #238 of 301 in IN (top 79%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 2 active listings in the ZIP; 23 units permitted in Fulton County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $546 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Fulton County population projected at -13% 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 ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 164 days — a 12% lower offer ($70k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 18y ago; this cycle's ask has dropped $6k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $9k; list at $79k implies a 778% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1937 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $69,520 (12.0% below list)

Questions for the listing agent

1. It's been on market 164 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 1937 — 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. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
6. Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
7. 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.
8. 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.
9. 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: 1.59% ✓
• Cap rate: 13.67%
• Cash-on-cash: 26.33%
• DSCR: 2.17
• GRM: 5.2

CMA / ARV

• ARV (median comp): $34,751
• List price: $79,000
• Delta: 127.33%
• Verdict: OVERPRICED
• Comps: 5 within 1.0 mi

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
7304 S State Road 17	0.10mi	3/1.0 (-1)	1,790 (-0%)	8mo	$55,000	$31	84
7273 S State Rd 17	0.02mi	4/1.0	1,644 (-8%)	23mo	$11,200	$7	66
7270 S State Rd 17	0.02mi	3/1.0 (-1)	1,548 (-14%)	24mo	$22,750	$15	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: 20.1%
• Equity multiple: 1.82×
• Total profit: $18,109
• Equity at exit: $11,779

10-year hold

• IRR: 28.3%
• Equity multiple: 3.51×
• Total profit: $55,562
• Equity at exit: $6,830

Cash invested: $22,120 (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 46939

• Home prices YoY: -3.2%
• Active inventory: 2
• Price-to-rent: 5.2×

Monthly cashflow live

• Estimated rent: $1,260 medium
• Mortgage (P&I): −$414
• Tax from tax record: −$62 /mo · $749/yr
• Insurance: −$33
• HOA: −$0
• Vacancy / Maint / Mgmt: −$264
• Net cashflow: $485

Break-even live

Break-even rent $645

Max offer price $79,000

Occupancy floor 56%

Sensitivity live

Price	-10% $530	-5% $508	+0% $485	+5% $463	+10% $441
Rent	-10% $386	-5% $436	+0% $485	+5% $535	+10% $585
Rate	-1.0pp $525	-0.5pp $505	base $485	+0.5pp $465	+1.0pp $444

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: $19,750
• Closing costs: $2,370
• Reserves months: —
• Total cash needed: —

Listing history 25 events

1. 2026-06-21
   days on market $79,000 Active 164 DOM
2. 2026-06-19
   days on market $79,000 Active 162 DOM
3. 2026-06-18
   days on market $79,000 Active 161 DOM
4. 2026-06-17
   days on market $79,000 Active 160 DOM
5. 2026-06-16
   days on market $79,000 Active 159 DOM
6. 2026-06-15
   days on market $79,000 Active 158 DOM
7. 2026-06-14
   days on market $79,000 Active 156 DOM
8. 2026-06-12
   days on market $79,000 Active 155 DOM
9. 2026-06-09
   days on market $79,000 Active 152 DOM
10. 2026-06-08
    days on market $79,000 Active 151 DOM
11. 2026-06-07
    days on market $79,000 Active 150 DOM
12. 2026-06-07
    days on market $79,000 Active 149 DOM
13. 2026-06-03
    days on market $79,000 Active 146 DOM
14. 2026-06-02
    days on market $79,000 Active 145 DOM
15. 2026-06-01
    days on market $79,000 Active 144 DOM
16. 2026-05-31
    days on market $79,000 Active 143 DOM
17. 2026-05-31
    days on market $79,000 Active 142 DOM
18. 2026-05-08
    status Active 766-char remark

    Show marketing remark (766 chars)

    Discover the potential at 7276 S State Road 17 in Kewanna, Indiana. Situated on a spacious lot with country surroundings, this property offers a great opportunity for investors, renovators, or buyers looking to create their own rural retreat. The convenient highway frontage provides easy access while still delivering the privacy and charm of country living. The home features a functional layout with room to add value through updates and improvements. With the right vision, this property could be transformed into a comfortable primary residence, rental, or investment project. Enjoy the peaceful setting, open space, and the freedom that comes with a rural location, all while being a short drive to Kewanna and surrounding communities. Please see agent remarks

19. 2026-02-21
    price $84,000 766-char remark

    Show marketing remark (766 chars)

    Discover the potential at 7276 S State Road 17 in Kewanna, Indiana. Situated on a spacious lot with country surroundings, this property offers a great opportunity for investors, renovators, or buyers looking to create their own rural retreat. The convenient highway frontage provides easy access while still delivering the privacy and charm of country living. The home features a functional layout with room to add value through updates and improvements. With the right vision, this property could be transformed into a comfortable primary residence, rental, or investment project. Enjoy the peaceful setting, open space, and the freedom that comes with a rural location, all while being a short drive to Kewanna and surrounding communities. Please see agent remarks

20. 2026-01-08
    listed $85,000 Active 766-char remark

    Show marketing remark (766 chars)

    Discover the potential at 7276 S State Road 17 in Kewanna, Indiana. Situated on a spacious lot with country surroundings, this property offers a great opportunity for investors, renovators, or buyers looking to create their own rural retreat. The convenient highway frontage provides easy access while still delivering the privacy and charm of country living. The home features a functional layout with room to add value through updates and improvements. With the right vision, this property could be transformed into a comfortable primary residence, rental, or investment project. Enjoy the peaceful setting, open space, and the freedom that comes with a rural location, all while being a short drive to Kewanna and surrounding communities. Please see agent remarks

21. 2025-06-18
    price $90,000
22. 2025-04-15
    listed $100,000 Active
23. 2014-09-09
    historical
24. 2009-04-13
    soldstatus $9,000
25. 2008-03-07
    listed $27,900

ⓘ 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: $749 · $62/mo
• Projected year-2 tax: $749 · $62/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 ≥101°F today · 16 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: $15,114
• − Mortgage interest: −$4,425
• − Property taxes: −$749
• − Insurance: −$395
• − Repairs & maintenance: −$1,209
• − Management: −$1,209
• − Depreciation: −$2,298
• Taxable income: $4,828
• Est. tax owed @ 24.0%: −$1,159
• After-tax cash flow: $4,666/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: Caston School Corporation
• NCES district ID: 1801410
• Math proficiency: 27% ▼ -9.00%
• Reading proficiency: 33% ▼ -12.00%
• Median HH income: $46,737
• Composite: 25.87/100
• National rank: #7346
• State rank: #238 of 301 in IN

Livability — Kewanna

• Score: 57/100
• State rank: #613
• US rank: #22117

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 1,757

Population outlook (Fulton County) Hauer SSP2

• Today (2025): 19,537 people
• By 2030: 19,013 · -2.7%
• By 2040: 17,959 · -8.1%
• By 2050: 17,038 · -12.8%
• By 2075: 15,117 · -22.6%
• By 2100: 13,179 · -32.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (93%)
• Race & ethnicity: White 93% Two or more races 5% Hispanic / Latino 2% Black 2%
• Common ancestry: Iranian 5% Romanian 4% Lithuanian 2%
• Foreign-born: 1%
• Languages at home: 97% English-only · German/W. Germanic 2% French/Haitian/Cajun 1%

Political lean MEDSL · Fulton

• 2024 margin: Solid R (+51.2) · D 23.7% · R 74.9% · Other 1.4%
• 2008→2024 swing: -35.2pp toward R · 2008: -16.0pp · 2024: -51.2pp
• All cycles: 2024: R+51.2 2020: R+48.2 2016: R+48.4 2012: R+33.2 2008: R+16.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -7.96%
• Current HPI: 238.4941
• 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

+201.1% since first listed

8 events — show timeline

• 2026-05-08 Relisted — IRMLS
• 2026-02-21 Price Changed $84,000 IRMLS
• 2026-01-08 Listed $85,000 IRMLS
• 2025-06-18 Price Changed $90,000 IRMLS
• 2025-04-15 Listed $100,000 IRMLS
• 2014-09-09 Listing Removed — NIRA MLS as Distributed by MLS Grid
• 2009-04-13 Sold (Public Records) $9,000 Public Records
• 2008-03-07 Listed $27,900 NIRA MLS as Distributed by MLS Grid

Property tax history

+2.6%/yr

Latest (2024): $749 · -7.9% YoY. Source: county tax records.