1113 W Oak St · Mitchell, IN 47446

$165,000

2 bd · 1.0 ba · 866 sqft · SingleFamily public records · 52 Days on market

Built 1925 9,888 sqft lot $191/sqft · 54% above area Est $214k · 23% 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).

• ARV discount +15.0/15.0
• Cash flow +13.2/30.0
• Appreciation +5.3/10.0
• DSCR +4.0/10.0
• Livability +3.5/5.0
• 1% rule +2.8/10.0
• Schools +2.7/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

This is a one time showing.

Key facts

• New pex water lines
• Brick cottage style
• Large backyard

Tags

• BRICK COTTAGE STYLE
• WOOD BURNING FIREPLACE
• BRAND NEW HVAC SYSTEM
• NEW PEX WATER LINES
• LARGE BACKYARD
• CONVENIENT CARPORT

Property features AI

Exterior

• Parking: Gravel and concrete off-street parking
• Utilities: Public water; Public sewer
• Home design: Single-family residence (site-built); One story
• Construction: Brick construction; Metal roof; Stone foundation; Built as site-built home
• Exterior features: Covered porch; Patio; Level, landscaped lot; Workshop and shed(s) on the property

Interior

• Kitchen: No appliances listed
• Bedrooms: Total of 5 rooms (includes bedrooms and living areas)
• Flooring: Carpet; Vinyl
• Bathrooms: 1 full bathroom (main level)
• Heating & cooling: Natural gas forced-air heating; Central air conditioning
• Interior features: Living room fireplace (wood burning); Crawl space basement
• Laundry & utility: Gas dryer hookup on the main level

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $165k.

Deal economics

• At list price, monthly cash flow is $-3 ($-31/yr) — negative.
• To cash-flow at today's rent, offer at most $165k (0.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $128k (22.2% below list).
• Recommended offer: $128k (22.2% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 69/100 on livability (#187 in IN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime B; Watch: employment D, amenities F, commute F.
• Mitchell Community Schools (town): math 26% / reading 37% proficiency, ranked #230 of 301 in IN (top 76%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Mitchell Jr High School (math 16% / reading 33%, grade F, #251 of 330 statewide, top 77%, 359 students, 61% FRL); Mitchell High School (math 32% / reading 67%, grade D, #123 of 369 statewide, top 36%, 436 students, 51% FRL).
• Market conditions: 61 active listings in the ZIP; 8 units permitted in Lawrence County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $2k of equity ($1k loan paydown + $1k appreciation (0.6% local appreciation)).
• Lawrence County population projected at -14% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 52 days — a 3% lower offer ($160k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 13y 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 $59k; list at $165k implies a 179% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1925 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $128,308 (22.2% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 52 days. Have you received any prior offers? Is the seller open to a 22% concession, seller financing, or rate buy-down credit?
3. Built in 1925 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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.
7. 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.
8. 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: 0.78% ✗
• Cap rate: 6.27%
• Cash-on-cash: -0.07%
• DSCR: 1.00
• GRM: 10.7

CMA / ARV

• ARV (median comp): $214,147
• List price: $165,000
• Delta: -22.95%
• 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
1215 W Warren St	0.16mi	2/1.0	858 (-1%)	1mo	$150,000	$175	90
1211 & 1209 W Main St	0.22mi	2/1.0	867 (+0%)	1mo	$145,000	$167	89
1134 N Marion St	0.50mi	2/1.0	863 (-0%)	2mo	$147,000	$170	74
844 W Frank St	0.39mi	2/1.0	908 (+5%)	0mo	$150,000	$165	74
1330 W Crandall St	0.41mi	2/1.0	840 (-3%)	4mo	$135,000	$161	72
512 W Mississippi Ave	0.51mi	2/1.0	852 (-2%)	1mo	$122,000	$143	72
507 W Oak St	0.39mi	2/1.0	912 (+5%)	6mo	$121,000	$133	68
455 S 9th St	0.58mi	2/1.0	900 (+4%)	11mo	$167,500	$186	58
609 W Grissom Ave	0.53mi	2/1.5	902 (+4%)	15mo	$24,000	$27	54
201 W Main St	0.67mi	1/1.0 (-1)	884 (+2%)	8mo	$125,000	$141	53
421 W Warren St	0.49mi	2/1.0	956 (+10%)	12mo	$140,000	$146	50
402 W Hancock Ave	0.55mi	2/1.0	960 (+11%)	12mo	$83,000	$86	46

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

Projected returns pro-forma

0.62% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -0.1%
• Equity multiple: 1.00×
• Total profit: $-216
• Equity at exit: $53,053

10-year hold

• IRR: 5.0%
• Equity multiple: 1.58×
• Total profit: $26,623
• Equity at exit: $68,036

Cash invested: $46,200 (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 47446

• Home prices YoY: 0.2%
• Active inventory: 61
• Price-to-rent: 10.7×

Monthly cashflow live

• Estimated rent: $1,283 medium
• Mortgage (P&I): −$865
• Tax from tax record: −$82 /mo · $987/yr
• Insurance: −$69
• HOA: −$0
• Vacancy / Maint / Mgmt: −$269
• Net cashflow: $-3

Break-even live

Break-even rent $1,286

Max offer price $164,539

Occupancy floor 95%

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: $41,250
• Closing costs: $4,950
• Reserves months: —
• Total cash needed: —

Listing history 27 events

1. 2026-06-19
   days on market $165,000 Active 52 DOM
2. 2026-06-18
   days on market $165,000 Active 51 DOM
3. 2026-06-17
   days on market $165,000 Active 50 DOM
4. 2026-06-16
   days on market $165,000 Active 49 DOM
5. 2026-06-15
   days on market $165,000 Active 48 DOM
6. 2026-06-14
   days on market $165,000 Active 46 DOM
7. 2026-06-12
   days on market $165,000 Active 45 DOM
8. 2026-06-09
   days on market $165,000 Active 42 DOM
9. 2026-06-08
   days on market $165,000 Active 41 DOM
10. 2026-06-07
    days on market $165,000 Active 40 DOM
11. 2026-06-05
    days on market $165,000 Active 38 DOM
12. 2026-06-03
    days on market $165,000 Active 36 DOM
13. 2026-06-02
    days on market $165,000 Active 35 DOM
14. 2026-06-01
    days on market $165,000 Active 34 DOM
15. 2026-05-31
    days on market $165,000 Active 33 DOM
16. 2026-05-30
    days on market $165,000 Active 32 DOM
17. 2026-04-28
    listed $165,000 Active 968-char remark
18. 2022-04-12
    soldstatus $59,200
19. 2020-01-13
    soldstatus $65,000

    Show marketing remark (27 chars)

    This is a one time showing.

20. 2020-01-11
    listed $65,000

    Show marketing remark (27 chars)

    This is a one time showing.

21. 2020-01-09
    soldstatus $52,000
22. 2019-10-07
    listed $59,900
23. 2016-03-15
    soldstatus $84,900
24. 2015-05-19
    listed $79,900
25. 2014-12-26
    soldstatus $25,000
26. 2013-08-15
    listed $55,900
27. 2013-08-06
    listed $45,000

ⓘ 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: $987 · $82/mo
• Projected year-2 tax: $1,195 · $100/mo
• Expected delta: +$208/yr (+$17/mo · 21.1%)

ⓘ 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 2/10 Low
• 🌡 Heat 5/10 Major 7 d/yr ≥104°F today · 20 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: $15,397
• − Mortgage interest: −$9,243
• − Property taxes: −$987
• − Insurance: −$825
• − Repairs & maintenance: −$1,232
• − Management: −$1,232
• − Depreciation: −$4,800
• Taxable loss: −$2,921
• Est. tax savings @ 24.0%: +$701
• After-tax cash flow: $670/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: Mitchell Community Schools
• NCES district ID: 1806900
• Math proficiency: 26% ▼ -16.00%
• Reading proficiency: 37% ▼ -10.00%
• Median HH income: $43,994
• Composite: 26.83/100
• National rank: #7113
• State rank: #230 of 301 in IN

Livability — Mitchell

• Score: 69/100
• State rank: #187
• US rank: #8606

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Mitchell, IN
• Population (ZIP): 9,259

Population outlook (Lawrence County) Hauer SSP2

• Today (2025): 44,347 people
• By 2030: 43,331 · -2.3%
• By 2040: 40,887 · -7.8%
• By 2050: 38,297 · -13.6%
• By 2075: 32,479 · -26.8%
• By 2100: 26,051 · -41.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (93%)
• Race & ethnicity: White 93% Two or more races 4% Asian 2% Hispanic / Latino 1%
• Common ancestry: Italian 3% Slovak 2% Serbian 1%
• Foreign-born: 3% · Canada
• Languages at home: 96% English-only · Other Indo-European 2% Spanish 1%

Political lean MEDSL · Lawrence

• 2024 margin: Solid R (+51.0) · D 23.6% · R 74.6% · Other 1.7%
• 2008→2024 swing: -30.5pp toward R · 2008: -20.6pp · 2024: -51.0pp
• All cycles: 2024: R+51.0 2020: R+50.6 2016: R+51.5 2012: R+32.8 2008: R+20.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 0.62%
• Current HPI: 248.9604
• 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

+266.7% since first listed

11 events — show timeline

• 2026-04-28 Listed $165,000 IRMLS
• 2022-04-12 Sold (Public Records) $59,200 Public Records
• 2020-01-13 Sold (MLS) $65,000 IRMLS
• 2020-01-11 Listed $65,000 IRMLS
• 2020-01-09 Sold (MLS) $52,000 IRMLS
• 2019-10-07 Listed $59,900 IRMLS
• 2016-03-15 Sold (Public Records) $84,900 Public Records
• 2015-05-19 Listed $79,900 IRMLS
• 2014-12-26 Sold (MLS) $25,000 IRMLS
• 2013-08-15 Listed $55,900 IRMLS
• 2013-08-06 Listed $45,000 IRMLS

Property tax history

+7.7%/yr

Latest (2025): $987 · +2.5% YoY. Source: county tax records.