1804 Stevens St · Logansport, IN 46947

$85,000

4 bd · 1.0 ba · 1,346 sqft · SingleFamily public records · 143 Days on market

Built 1900 6,970 sqft lot $63/sqft · 21% below area Est $108k · 21% under

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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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +3.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.4/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Spacious city living with endless potential! This 4-bedroom home offers a functional layout and generous living space, making it ideal for a large household or an investment opportunity. Conveniently located close to shopping, dining, schools, and major roadways, this property provides easy access to everything the city has to offer. The ample bedroom count allows for flexible use, including home offices or additional rental income potential. Whether you’re looking for a primary residence or a value-add investment, this property presents a great opportunity in a desirable in-town location.

Key facts

• 6,970 sq ft lot
• Built 1900
• Listed 142 days

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $85k.

Deal economics

• At list price, monthly cash flow is $458 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $85k).
• Recommended offer: $75k (12.0% below list) — sets the bar for market timing.
• Cap rate 13.5% vs local median 4.4% in Logansport — 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 78/100 on livability (#34 in IN, #2,683 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, amenities A+, cost of living A+; Watch: schools F, commute F, employment D-.
• Logansport Community School Corporation (town): math 26% / reading 32% proficiency, ranked #252 of 301 in IN (top 84%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 129 active listings in the ZIP; 22 units permitted in Cass County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $588 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Cass County population projected at -16% 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 $24k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 143 days — a 12% lower offer ($75k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts; this cycle's ask has dropped $5k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: flood insurance adds $56/mo; built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe flood risk — expect insurance premiums to compound above CPI over the hold.

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

Questions for the listing agent

1. It's been on market 143 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 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
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: 1.56% ✓
• Cap rate: 13.54%
• Cash-on-cash: 25.89%
• DSCR: 2.15
• GRM: 5.3

CMA / ARV

• ARV (median comp): $108,053
• List price: $85,000
• Delta: -21.33%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1914 Woodlawn Ave	0.26mi	4/2.5	1,416 (+5%)	5mo	$195,000	$138	69
1617 Smead St	0.57mi	3/1.0 (-1)	1,391 (+3%)	6mo	$173,000	$124	58
1508 Woodlawn Ave	0.33mi	3/1.0 (-1)	1,192 (-11%)	6mo	$75,000	$63	56
1705 George St	0.65mi	3/1.0 (-1)	1,314 (-2%)	7mo	$55,000	$42	55
1110 Sunset Dr	0.66mi	3/1.5 (-1)	1,260 (-6%)	1mo	$198,000	$157	51
1214 Erie Ave	0.58mi	3/2.5 (-1)	1,368 (+2%)	10mo	$195,000	$143	51
910 22nd St	0.63mi	3/2.0 (-1)	1,405 (+4%)	11mo	$219,900	$157	45
628 11th St	0.69mi	3/1.0 (-1)	1,282 (-5%)	13mo	$35,000	$27	44
826 20th St	0.55mi	3/1.5 (-1)	1,222 (-9%)	16mo	$155,000	$127	38
823 16th St	0.45mi	3/1.0 (-1)	1,522 (+13%)	23mo	$174,000	$114	33
1522 George St	0.67mi	3/1.5 (-1)	1,524 (+13%)	14mo	$100,000	$66	28
1609 Spear St	0.72mi	3/2.0 (-1)	1,189 (-12%)	22mo	$130,000	$109	19

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: 16.1%
• Equity multiple: 1.65×
• Total profit: $15,420
• Equity at exit: $12,674

10-year hold

• IRR: 24.7%
• Equity multiple: 3.15×
• Total profit: $51,080
• Equity at exit: $7,349

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 46947

• Home prices YoY: -28.9%
• Active inventory: 129
• Price-to-rent: 5.3×

Monthly cashflow live

• Estimated rent: $1,327 medium
• Mortgage (P&I): −$446
• Tax from tax record: −$54 /mo · $646/yr
• Insurance: −$35
• Flood insurance flood zone: −$56 /mo · $666/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$279
• Net cashflow: $458

Break-even live

Break-even rent $748

Max offer price $85,000

Occupancy floor 60%

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 19 events

1. 2026-06-18
   days on market $85,000 Active 143 DOM
2. 2026-06-17
   days on market $85,000 Active 142 DOM
3. 2026-06-16
   days on market $85,000 Active 141 DOM
4. 2026-06-15
   days on market $85,000 Active 140 DOM
5. 2026-06-13
   days on market $85,000 Active 138 DOM
6. 2026-06-12
   days on market $85,000 Active 137 DOM
7. 2026-06-09
   days on market $85,000 Active 134 DOM
8. 2026-06-08
   days on market $85,000 Active 133 DOM
9. 2026-06-07
   days on market $85,000 Active 132 DOM
10. 2026-06-07
    days on market $85,000 Active 131 DOM
11. 2026-06-04
    days on market $85,000 Active 128 DOM
12. 2026-06-02
    days on market $85,000 Active 127 DOM
13. 2026-06-01
    days on market $85,000 Active 126 DOM
14. 2026-05-31
    days on market $85,000 Active 125 DOM
15. 2026-05-31
    days on market $85,000 Active 124 DOM
16. 2026-05-07
    status Active 602-char remark

    Show marketing remark (602 chars)

    Spacious city living with endless potential! This 4-bedroom home offers a functional layout and generous living space, making it ideal for a large household or an investment opportunity. Conveniently located close to shopping, dining, schools, and major roadways, this property provides easy access to everything the city has to offer. The ample bedroom count allows for flexible use, including home offices or additional rental income potential. Whether you’re looking for a primary residence or a value-add investment, this property presents a great opportunity in a desirable in-town location.

17. 2026-05-07
    historical 602-char remark

    Show marketing remark (602 chars)

    Spacious city living with endless potential! This 4-bedroom home offers a functional layout and generous living space, making it ideal for a large household or an investment opportunity. Conveniently located close to shopping, dining, schools, and major roadways, this property provides easy access to everything the city has to offer. The ample bedroom count allows for flexible use, including home offices or additional rental income potential. Whether you’re looking for a primary residence or a value-add investment, this property presents a great opportunity in a desirable in-town location.

18. 2026-04-27
    status Active 602-char remark

    Show marketing remark (602 chars)

    Spacious city living with endless potential! This 4-bedroom home offers a functional layout and generous living space, making it ideal for a large household or an investment opportunity. Conveniently located close to shopping, dining, schools, and major roadways, this property provides easy access to everything the city has to offer. The ample bedroom count allows for flexible use, including home offices or additional rental income potential. Whether you’re looking for a primary residence or a value-add investment, this property presents a great opportunity in a desirable in-town location.

19. 2026-01-26
    listed $90,000 Active 602-char remark

    Show marketing remark (602 chars)

    Spacious city living with endless potential! This 4-bedroom home offers a functional layout and generous living space, making it ideal for a large household or an investment opportunity. Conveniently located close to shopping, dining, schools, and major roadways, this property provides easy access to everything the city has to offer. The ample bedroom count allows for flexible use, including home offices or additional rental income potential. Whether you’re looking for a primary residence or a value-add investment, this property presents a great opportunity in a desirable in-town location.

ⓘ 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: $646 · $54/mo
• Projected year-2 tax: $684 · $57/mo
• Expected delta: +$38/yr (+$3/mo · 5.9%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 10/10 Extreme FEMA zone X (unshaded) · 99% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥102°F today · 17 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,928
• − Mortgage interest: −$4,761
• − Property taxes: −$646
• − Insurance: −$1,092
• − Repairs & maintenance: −$1,274
• − Management: −$1,274
• − Depreciation: −$2,473
• Taxable income: $4,408
• Est. tax owed @ 24.0%: −$1,058
• After-tax cash flow: $4,438/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: Logansport Community School Corporation
• NCES district ID: 1806030
• Math proficiency: 26% ▼ -10.00%
• Reading proficiency: 32% ▼ -7.00%
• Median HH income: $37,767
• Composite: 24.19/100
• National rank: #7733
• State rank: #252 of 301 in IN

Livability — Logansport

• Score: 78/100
• State rank: #34
• US rank: #2683

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Logansport, IN
• City population: 28,830
• Population (ZIP): 28,830

Population outlook (Cass County) Hauer SSP2

• Today (2025): 36,480 people
• By 2030: 35,390 · -3.0%
• By 2040: 33,077 · -9.3%
• By 2050: 30,631 · -16.0%
• By 2075: 25,426 · -30.3%
• By 2100: 20,617 · -43.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (70%)
• Race & ethnicity: White 70% Hispanic / Latino 22% Two or more races 8% Asian 2% Black 1%
• Hispanic origin (detail): Mexican 13%
• Common ancestry: Italian 2% Iranian 1% Lithuanian 1%
• Foreign-born: 12% · Canada, China
• Languages at home: 80% English-only · Spanish 17% French/Haitian/Cajun 1% Other Asian/Pacific 1%

Political lean MEDSL · Cass

• 2024 margin: Solid R (+46.2) · D 26.2% · R 72.4% · Other 1.4%
• 2008→2024 swing: -37.7pp toward R · 2008: -8.5pp · 2024: -46.2pp
• All cycles: 2024: R+46.2 2020: R+41.1 2016: R+42.0 2012: R+21.7 2008: R+8.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -91.21%
• Current HPI: 223.8394
• 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

4 events — show timeline

• 2026-05-07 Relisted — IRMLS
• 2026-05-07 Delisted — IRMLS
• 2026-04-27 Relisted — IRMLS
• 2026-01-26 Listed $90,000 IRMLS

Property tax history

+5.0%/yr

Latest (2024): $646 · -2.0% YoY. Source: county tax records.