617 Nelson Dr · Mooresville, IN 46158

$205,000

3 bd · 2.0 ba · 1,593 sqft · SingleFamily public records · 24 Days on market

Built 1961 7,710 sqft lot Est $255k · 20% under

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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 +20.5/30.0
• ARV discount +15.0/15.0
• DSCR +6.5/10.0
• 1% rule +4.8/10.0
• Schools +3.7/10.0
• Livability +3.5/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Good size home don't let the outside fool you. Open floor plan that flows nicely, great for entertaining. Hardwood type Laminate flooring throughout with the exception of bedrooms, baths and Lu rm. Kitchen with center island walk in pantry, patio doors that lead to a patio and fenced back yard. Dining/Living room, Family room with wood burning fireplace. Master bedroom with walk-in closet, shower with whirlpool tub. Lg Laundry/utility room, finished garage with overhead door and workshop. Storage barn on concrete will stay. Home is a pleasure to show.

Key facts

• Storage garage
• Walk-in closet
• Updated hvac

Tags

• OPEN-CONCEPT LIVING AREA
• WALK-IN CLOSET
• FULLY FENCED YARD
• STORAGE GARAGE
• UPDATED HVAC

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $205k.

Deal economics

• At list price, monthly cash flow is $272 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $200k (2.4% below list).
• Recommended offer: $200k (2.4% below list) — sets the bar for 1% rule.
• Cap rate 7.9% vs local median 3.5% in Mooresville — 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 69/100 on livability (#201 in IN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime B+; Watch: amenities F, commute F, health & safety F.
• Mooresville Consolidated School Corporation (suburban): math 41% / reading 43% proficiency, ranked #111 of 301 in IN (top 37%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Northwood Elementary School (math 39% / reading 36%, grade F, #543 of 994 statewide, top 55%, 440 students, 50% FRL); Paul Hadley Middle School (math 31% / reading 38%, grade F, #167 of 330 statewide, top 52%, 687 students, 47% FRL); Mooresville High School (math 43% / reading 74%, grade C, #60 of 369 statewide, top 16%, 1,404 students, 39% FRL).
• Market conditions: 137 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 330 units permitted in Morgan County in 2024 (0 in 5+ unit buildings).

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.
• Morgan County population projected to shrink 6% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.

Negotiation context

• It's been on market 24 days — a 2% lower offer ($202k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 8y 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.
• Current owner paid $165k; 24% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Recommended offer $200,000 (2.4% below list)

Questions for the listing agent

1. Built in 1961 — 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. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
4. 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.
5. 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.
6. 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: 0.98% ✗
• Cap rate: 7.88%
• Cash-on-cash: 5.68%
• DSCR: 1.25
• GRM: 8.5

CMA / ARV

• ARV (on-the-fly): $254,880
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
617 Nelson Dr	0.00mi	3/2.0	1,593 (0%)	1mo	$200,000	$126	99
811 Edgewood Dr	0.35mi	4/2.0 (+1)	1,566 (-2%)	0mo	$259,900	$166	76
80 Center Ln	0.38mi	3/2.0	1,525 (-4%)	2mo	$177,700	$117	73
820 Morningstar Dr	0.43mi	3/2.0	1,550 (-3%)	8mo	$230,000	$148	69
308 Bishop St	0.32mi	3/2.0	1,768 (+11%)	3mo	$222,000	$126	65
205 Locust Ln	0.26mi	2/2.0 (-1)	1,362 (-14%)	2mo	$280,000	$206	57
290 Northridge Dr	0.73mi	3/2.0	1,654 (+4%)	4mo	$308,000	$186	56
150 Church St	0.30mi	4/1.5 (+1)	1,748 (+10%)	8mo	$251,000	$144	56
88 Morgan St	0.67mi	3/2.0	1,530 (-4%)	8mo	$274,000	$179	55
91 Dunn Dr	0.42mi	3/1.0	1,375 (-14%)	8mo	$235,000	$171	47
429 Conduitt Dr	0.59mi	3/2.0	1,816 (+14%)	6mo	$290,000	$160	44
1125 Delwood Dr	0.66mi	3/1.0	1,386 (-13%)	7mo	$197,500	$142	38

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: -7.5%
• Equity multiple: 0.72×
• Total profit: $-15,937
• Equity at exit: $30,566

10-year hold

• IRR: 2.0%
• Equity multiple: 1.14×
• Total profit: $8,274
• Equity at exit: $17,725

Cash invested: $57,400 (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 46158

• Home prices YoY: -26.3%
• Active inventory: 137
• Price-to-rent: 8.5×

Monthly cashflow live

• Estimated rent: $2,000 medium
• Mortgage (P&I): −$1,075
• Tax from tax record: −$148 /mo · $1,771/yr
• Insurance: −$85
• HOA: −$0
• Vacancy / Maint / Mgmt: −$420
• Net cashflow: $272

Break-even live

Break-even rent $1,656

Max offer price $205,000

Occupancy floor 81%

Sensitivity live

Price	-10% $388	-5% $330	+0% $272	+5% $214	+10% $156
Rent	-10% $114	-5% $193	+0% $272	+5% $351	+10% $430
Rate	-1.0pp $375	-0.5pp $324	base $272	+0.5pp $219	+1.0pp $165

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: $51,250
• Closing costs: $6,150
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
120 W Harrison St Mooresville, IN	3.0	2.0	1600	$2,000	$1.25	0d	1	0.91mi

Listing history 9 events

1. 2026-04-20
   status Pending
2. 2026-03-27
   listed $205,000 Active
3. 2020-12-07
   soldstatus $165,000 Closed 557-char remark

   Show marketing remark (557 chars)

   Good size home don't let the outside fool you. Open floor plan that flows nicely, great for entertaining. Hardwood type Laminate flooring throughout with the exception of bedrooms, baths and Lu rm. Kitchen with center island walk in pantry, patio doors that lead to a patio and fenced back yard. Dining/Living room, Family room with wood burning fireplace. Master bedroom with walk-in closet, shower with whirlpool tub. Lg Laundry/utility room, finished garage with overhead door and workshop. Storage barn on concrete will stay. Home is a pleasure to show.

4. 2020-11-24
   status Pending 557-char remark

   Show marketing remark (557 chars)

   Good size home don't let the outside fool you. Open floor plan that flows nicely, great for entertaining. Hardwood type Laminate flooring throughout with the exception of bedrooms, baths and Lu rm. Kitchen with center island walk in pantry, patio doors that lead to a patio and fenced back yard. Dining/Living room, Family room with wood burning fireplace. Master bedroom with walk-in closet, shower with whirlpool tub. Lg Laundry/utility room, finished garage with overhead door and workshop. Storage barn on concrete will stay. Home is a pleasure to show.

5. 2020-10-29
   status Pending 557-char remark

   Show marketing remark (557 chars)

   Good size home don't let the outside fool you. Open floor plan that flows nicely, great for entertaining. Hardwood type Laminate flooring throughout with the exception of bedrooms, baths and Lu rm. Kitchen with center island walk in pantry, patio doors that lead to a patio and fenced back yard. Dining/Living room, Family room with wood burning fireplace. Master bedroom with walk-in closet, shower with whirlpool tub. Lg Laundry/utility room, finished garage with overhead door and workshop. Storage barn on concrete will stay. Home is a pleasure to show.

6. 2020-10-28
   listed $164,900 Active 557-char remark

   Show marketing remark (557 chars)

   Good size home don't let the outside fool you. Open floor plan that flows nicely, great for entertaining. Hardwood type Laminate flooring throughout with the exception of bedrooms, baths and Lu rm. Kitchen with center island walk in pantry, patio doors that lead to a patio and fenced back yard. Dining/Living room, Family room with wood burning fireplace. Master bedroom with walk-in closet, shower with whirlpool tub. Lg Laundry/utility room, finished garage with overhead door and workshop. Storage barn on concrete will stay. Home is a pleasure to show.

7. 2018-05-15
   soldstatus $138,500 Sold 582-char remark

   Show marketing remark (582 chars)

   A great 1,500 + square foot ranch with 3 bedrooms, 2 full baths in Mooresville. New updates include: front door, laminate wood flooring, carpet in 3 bedrooms, countertops & island in kitchen, garage door opener w/ 4 remotes, whole house freshly painted. New gutters in 2017 and water heater in 2016. Open concept with family room/dining room/kitchen. Wood burning fireplace for cold winter months. Larger master bedroom with walk in closet. Conveniently located and within walking distance to school & town park, low taxes, and seller is offering a HOME WARRANTY as a bonus.

8. 2018-03-27
   status Pending 582-char remark

   Show marketing remark (582 chars)

   A great 1,500 + square foot ranch with 3 bedrooms, 2 full baths in Mooresville. New updates include: front door, laminate wood flooring, carpet in 3 bedrooms, countertops & island in kitchen, garage door opener w/ 4 remotes, whole house freshly painted. New gutters in 2017 and water heater in 2016. Open concept with family room/dining room/kitchen. Wood burning fireplace for cold winter months. Larger master bedroom with walk in closet. Conveniently located and within walking distance to school & town park, low taxes, and seller is offering a HOME WARRANTY as a bonus.

9. 2018-03-19
   listed $135,000 Active 582-char remark

   Show marketing remark (582 chars)

   A great 1,500 + square foot ranch with 3 bedrooms, 2 full baths in Mooresville. New updates include: front door, laminate wood flooring, carpet in 3 bedrooms, countertops & island in kitchen, garage door opener w/ 4 remotes, whole house freshly painted. New gutters in 2017 and water heater in 2016. Open concept with family room/dining room/kitchen. Wood burning fireplace for cold winter months. Larger master bedroom with walk in closet. Conveniently located and within walking distance to school & town park, low taxes, and seller is offering a HOME WARRANTY as a bonus.

ⓘ 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: $1,771 · $148/mo
• Projected year-2 tax: $1,771 · $148/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 4/10 Moderate 7 d/yr ≥102°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: $24,000
• − Mortgage interest: −$11,483
• − Property taxes: −$1,771
• − Insurance: −$1,025
• − Repairs & maintenance: −$1,920
• − Management: −$1,920
• − Depreciation: −$5,964
• Taxable loss: −$83
• Est. tax savings @ 24.0%: +$20
• After-tax cash flow: $3,283/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: Mooresville Consolidated School Corporation
• NCES district ID: 1807140
• Math proficiency: 41% ▼ -11.00%
• Reading proficiency: 43% ▼ -9.00%
• Median HH income: $59,316
• Composite: 37.04/100
• National rank: #4511
• State rank: #111 of 301 in IN

Livability — Mooresville

• Score: 69/100
• State rank: #201
• US rank: #8947

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Mooresville, IN
• City population: 24,622
• Population (ZIP): 24,622

Population outlook (Morgan County) Hauer SSP2

• Today (2025): 71,081 people
• By 2030: 71,178 · +0.1%
• By 2040: 69,907 · -1.7%
• By 2050: 66,455 · -6.5%
• By 2075: 57,291 · -19.4%
• By 2100: 43,782 · -38.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (94%)
• Race & ethnicity: White 94% Two or more races 3% Hispanic / Latino 2%
• Common ancestry: Slovak 2% Italian 2% Iranian 2%
• Foreign-born: 1% · Canada
• Languages at home: 98% English-only · Spanish 1%

Political lean MEDSL · Morgan

• 2024 margin: Solid R (+54.3) · D 22.0% · R 76.3% · Other 1.7%
• 2008→2024 swing: -27.3pp toward R · 2008: -27.1pp · 2024: -54.3pp
• All cycles: 2024: R+54.3 2020: R+54.6 2016: R+56.6 2012: R+41.1 2008: R+27.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -90.62%
• Current HPI: 254.0837
• 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

+51.9% since first listed

9 events — show timeline

• 2026-04-20 Pending — MIBOR as Distributed by MLS Grid
• 2026-03-27 Listed $205,000 MIBOR as Distributed by MLS Grid
• 2020-12-07 Sold (MLS) $165,000 MIBOR as Distributed by MLS Grid
• 2020-11-24 Pending — MIBOR as Distributed by MLS Grid
• 2020-10-29 Pending — MIBOR as Distributed by MLS Grid
• 2020-10-28 Listed $164,900 MIBOR as Distributed by MLS Grid
• 2018-05-15 Sold (MLS) $138,500 MIBOR as Distributed by MLS Grid
• 2018-03-27 Pending — MIBOR as Distributed by MLS Grid
• 2018-03-19 Listed $135,000 MIBOR as Distributed by MLS Grid

Property tax history

+13.1%/yr

Latest (2025): $1,771 · +13.3% YoY. Source: county tax records.