443 Cleveland St · Columbus, IN 47201

$175,000

2 bd · 1.0 ba · 816 sqft · SingleFamily public records · 4 Days on market

Built 1958 6,750 sqft lot Est $148k · 18% over

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Why this score? — see what drove the F 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 +13.8/30.0
• DSCR +4.2/10.0
• Livability +4.0/5.0
• Schools +3.6/10.0
• Rent growth +3.3/5.0
• 1% rule +2.8/10.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

Investment opportunity! Well-kept home, with central A/C, fenced yard, nice storage shed and lots of perennials! <P>PROPERTY SELLS AT AUCTION MAY 15 AT 4:30 PM!!!!!!!

Key facts

• 6,750 sq ft lot
• Built 1958
• Listed 3 days

Property features AI

Finance

• Other: Property type: Residential; Lot size approximately 0.16 acre

Exterior

• Parking: Gravel parking
• Utilities: Public water; Municipal sewer; 100 Amp electric service; Cable available; Electricity connected; Natural gas connected
• Home design: Single-family residence; One-story home
• Construction: Aluminum siding; Slab foundation
• Exterior features: Partial fencing; Storage shed

Interior

• Kitchen: Electric oven; Refrigerator; Eat-in kitchen layout
• Bedrooms: Two bedrooms on the main level (sizes approx. 9x11 and 9x12)
• Bathrooms: One full bathroom on the main level
• Heating & cooling: Forced air heating (natural gas); Central air conditioning
• Interior features: Eat-in kitchen; Living room fireplace
• Laundry & utility: Washer; Dryer; Main-level laundry (approx. 11x5)

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $175k.

Deal economics

• At list price, monthly cash flow is $17 ($202/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 $136k (22.5% below list).
• Recommended offer: $136k (22.5% below list) — sets the bar for 1% rule.
• Cap rate 6.4% vs local median 3.5% in Columbus — 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 79/100 on livability (#24 in IN, #1,978 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities D+, commute F.
• Bartholomew Consolidated School Corporation (urban): math 38% / reading 45% proficiency, ranked #119 of 301 in IN (top 40%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising (+3.1%/yr); 340 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 71% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 195 units permitted in Bartholomew 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 $5k of value loss. Plan a longer hold.
• Bartholomew County population projected at +22% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 23y 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 $39k; list at $175k implies a 349% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1958 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $135,653 (22.5% below list)

Questions for the listing agent

1. Built in 1958 — 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 B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
4. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 0.78% ✗
• Cap rate: 6.41%
• Cash-on-cash: 0.41%
• DSCR: 1.02
• GRM: 10.8

CMA / ARV

• ARV (on-the-fly): $147,696
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
428 Cleveland St	0.03mi	2/1.0	924 (+13%)	14mo	$155,000	$168	65
2612 13th St	0.62mi	2/1.0	816 (0%)	8mo	$148,000	$181	64
2921 10th St	0.52mi	2/1.0	852 (+4%)	7mo	$138,900	$163	63
355 Mcclure Rd	0.33mi	2/1.0	756 (-7%)	12mo	$106,500	$141	63
52 N Ross St	0.38mi	2/1.0	892 (+9%)	12mo	$170,000	$191	57
213 Hege Ave	0.71mi	2/1.0	848 (+4%)	4mo	$119,000	$140	57
2133 10th St	0.41mi	2/1.0	896 (+10%)	10mo	$140,000	$156	57
1305 Court St	0.64mi	3/1.0 (+1)	738 (-10%)	1mo	$180,000	$244	49
2905 Kentucky Ave	0.74mi	3/1.0 (+1)	864 (+6%)	4mo	$173,900	$201	48
1215 N Gladstone Ave	0.56mi	3/1.0 (+1)	925 (+13%)	4mo	$102,000	$110	43
1317 Court St	0.67mi	3/1.0 (+1)	932 (+14%)	11mo	$170,000	$182	31
2805 Kentucky Ave	0.72mi	3/1.0 (+1)	936 (+15%)	7mo	$172,000	$184	31

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 · 3.15% rent growth · sell at horizon

5-year hold

• IRR: -15.6%
• Equity multiple: 0.45×
• Total profit: $-27,157
• Equity at exit: $26,093

10-year hold

• IRR: -6.9%
• Equity multiple: 0.56×
• Total profit: $-21,728
• Equity at exit: $15,131

Cash invested: $49,000 (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 47201

• Rents YoY: 3.1%
• Active inventory: 340
• Price-to-rent: 10.8×

Monthly cashflow live

• Estimated rent: $1,357 high
• Mortgage (P&I): −$918
• Tax from tax record: −$64 /mo · $771/yr
• Insurance: −$73
• HOA: −$0
• Vacancy / Maint / Mgmt: −$285
• Net cashflow: $17

Break-even live

Break-even rent $1,335

Max offer price $175,000

Occupancy floor 94%

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: $43,750
• Closing costs: $5,250
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1182 Quail Run Dr Columbus, IN	1.0–3.0	1.0–2.0	967	$1,375	$1.42	43d	16	0.45mi
420 Wint Ln Columbus, IN	1.0–2.0	1.0–2.0	950	$1,450	$1.53	43d	1	0.55mi
275 N Marr Rd Columbus, IN	1.0–2.0	1.0–2.0	897	$1,540	$1.72	43d	4	0.66mi
1001 Ashford Park Pl Columbus, IN	1.0	1.0	740	$935	$1.26	21d	1	0.68mi
3393 Country Brook St Columbus, IN	1.0–3.0	1.5	821	$1,442	$1.76	43d	10	0.71mi
725 Sycamore St Columbus, IN	1.0–2.0	1.0–2.0	766	$1,525	$1.99	21d	11	1.07mi
782 Clifty Ln Columbus, IN	1.0–2.0	1.0–2.0	999	$1,360	$1.36	43d	1	1.12mi

Listing history 5 events

1. 2026-06-19
   days on market $175,000 Active 4 DOM
2. 2026-06-18
   days on market $175,000 Active 3 DOM
3. 2026-06-17
   days on market $175,000 Active 2 DOM
4. 2026-06-15
   remarks 346-char remark
5. 2026-06-15
   listed $175,000 Active 1 DOM

ⓘ 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: $771 · $64/mo
• Projected year-2 tax: $1,129 · $94/mo
• Expected delta: +$358/yr (+$30/mo · 46.5%)

ⓘ 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 ≥103°F today · 19 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 2% 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: $16,278
• − Mortgage interest: −$9,803
• − Property taxes: −$771
• − Insurance: −$875
• − Repairs & maintenance: −$1,302
• − Management: −$1,302
• − Depreciation: −$5,091
• Taxable loss: −$2,865
• Est. tax savings @ 24.0%: +$688
• After-tax cash flow: $889/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: Bartholomew Consolidated School Corporation
• NCES district ID: 1800360
• Math proficiency: 38% ▼ -11.00%
• Reading proficiency: 45% ▼ -7.00%
• Median HH income: $54,685
• Composite: 36.16/100
• National rank: #4736
• State rank: #119 of 301 in IN

Livability — Columbus

• Score: 79/100
• State rank: #24
• US rank: #1978

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Columbus, IN
• County: Bartholomew County · 74,100 people
• City population: 74,100
• Metro: Columbus, IN
• Population (ZIP): 47,900
• Household income: $83,958
• Rent vs Own: 36.8% rent · 63.2% own
• Severe rent burden: 1455.0

Population outlook (Bartholomew County) Hauer SSP2

• Today (2025): 90,162 people
• By 2030: 94,432 · +4.7%
• By 2040: 102,659 · +13.9%
• By 2050: 109,794 · +21.8%
• By 2075: 123,419 · +36.9%
• By 2100: 121,047 · +34.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (75%)
• Race & ethnicity: White 75% Hispanic / Latino 10% Asian 9% Two or more races 6% Black 2%
• Hispanic origin (detail): Mexican 8% Puerto Rican 1%
• Common ancestry: Italian 3% Slovak 2% Serbian 1%
• Foreign-born: 14% · Canada, China
• Languages at home: 83% English-only · Spanish 8% Other Indo-European 5% Other Asian/Pacific 2%

Political lean MEDSL · Bartholomew

• 2024 margin: Strong R (+27.3) · D 35.3% · R 62.7% · Other 2.0%
• 2008→2024 swing: -16.1pp toward R · 2008: -11.3pp · 2024: -27.3pp
• All cycles: 2024: R+27.3 2020: R+26.2 2016: R+33.3 2012: R+25.4 2008: R+11.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -204.94%
• Current HPI: 150.2246
• Rent YoY: ▲ 3.15%
• Metro: Columbus, IN
• 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

+348.7% since first listed

3 events — show timeline

• 2026-06-12 Listed $175,000 MIBOR as Distributed by MLS Grid
• 2003-06-24 Sold (MLS) $39,000 MIBOR as Distributed by MLS Grid
• 2003-04-28 Listed $39,000 MIBOR as Distributed by MLS Grid

Property tax history

-2.8%/yr

Latest (2025): $771 · -7.5% YoY. Source: county tax records.