442 S Troll St · Sullivan, IN 47882

$113,404

3 bd · 1.5 ba · 1,988 sqft · SingleFamily public records · 473 Days on market

Built 1980 10,019 sqft lot $57/sqft · 32% below area Est $167k · 32% 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 +28.3/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +7.1/10.0
• Schools +3.5/10.0
• 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

3 Bedroom, 1.5 Bath Split level, Main level in the process of being painted, buyer can complete as desired. 1 Car attached garage has been blocked off to add to living space. Built in 1980.

Key facts

• Add to living space
• 0.23 acre lot
• Built 1980

Tags

• MAIN LEVEL BEING PAINTED
• ATTACHED GARAGE BLOCKED OFF
• ADD TO LIVING SPACE

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $113k.

Deal economics

• At list price, monthly cash flow is $363 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $113k).
• Recommended offer: $100k (12.0% below list) — sets the bar for market timing.
• Cap rate 10.1% vs local median 4.5% in Sullivan — 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 70/100 on livability (#167 in IN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: schools D+, amenities F, commute F.
• Southwest School Corporation (rural): math 40% / reading 42% proficiency, ranked #137 of 301 in IN (top 46%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 79 active listings in the ZIP; 4 units permitted in Sullivan County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $784 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Sullivan County population projected at -12% 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 $32k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 473 days — a 12% lower offer ($100k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $6k (5%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $40k; list at $113k implies a 184% gain — meaningful room to come down on a strong offer.

Recommended offer $99,795 (12.0% below list)

Questions for the listing agent

1. It's been on market 473 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
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: 1.21% ✓
• Cap rate: 10.13%
• Cash-on-cash: 13.72%
• DSCR: 1.61
• GRM: 6.9

CMA / ARV

• ARV (median comp): $166,840
• List price: $113,404
• Delta: -32.03%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
428 S Troll St	0.03mi	3/2.0	1,826 (-8%)	10mo	$167,000	$91	75
424 S Section St St	0.13mi	3/1.0	2,220 (+12%)	2mo	$154,000	$69	71
324 S State St	0.35mi	3/1.0	1,713 (-14%)	4mo	$133,500	$78	55
320 W Thomas St St	0.74mi	3/3.0	2,036 (+2%)	7mo	$215,000	$106	50
651 W Center Rd Rd	0.64mi	3/2.0	2,158 (+9%)	7mo	$295,000	$137	48
426 N Section St St	0.73mi	4/2.0 (+1)	2,080 (+5%)	4mo	$191,000	$92	48
415 E Washington St	0.67mi	4/2.5 (+1)	2,166 (+9%)	1mo	$175,000	$81	44

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: 3.9%
• Equity multiple: 1.15×
• Total profit: $4,723
• Equity at exit: $16,909

10-year hold

• IRR: 13.3%
• Equity multiple: 2.06×
• Total profit: $33,799
• Equity at exit: $9,805

Cash invested: $31,753 (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 47882

• Home prices YoY: -11.1%
• Active inventory: 79
• Price-to-rent: 6.9×

Monthly cashflow live

• Estimated rent: $1,367 medium
• Mortgage (P&I): −$595
• Tax from tax record: −$75 /mo · $896/yr
• Insurance: −$47
• HOA: −$0
• Vacancy / Maint / Mgmt: −$287
• Net cashflow: $363

Break-even live

Break-even rent $907

Max offer price $113,404

Occupancy floor 68%

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: $28,351
• Closing costs: $3,402
• Reserves months: —
• Total cash needed: —

Listing history 21 events

1. 2026-06-18
   days on market $113,404 Active 473 DOM
2. 2026-06-17
   days on market $113,404 Active 472 DOM
3. 2026-06-16
   days on market $113,404 Active 471 DOM
4. 2026-06-15
   days on market $113,404 Active 470 DOM
5. 2026-06-13
   days on market $113,404 Active 468 DOM
6. 2026-06-12
   days on market $113,404 Active 467 DOM
7. 2026-06-09
   days on market $113,404 Active 464 DOM
8. 2026-06-08
   days on market $113,404 Active 463 DOM
9. 2026-06-07
   days on market $113,404 Active 462 DOM
10. 2026-06-07
    days on market $113,404 Active 461 DOM
11. 2026-06-04
    days on market $113,404 Active 458 DOM
12. 2026-06-02
    days on market $113,404 Active 457 DOM
13. 2026-06-01
    days on market $113,404 Active 456 DOM
14. 2026-05-31
    days on market $113,404 Active 455 DOM
15. 2026-05-31
    days on market $113,404 Active 454 DOM
16. 2026-04-13
    status Active 189-char remark

    Show marketing remark (189 chars)

    3 Bedroom, 1.5 Bath Split level, Main level in the process of being painted, buyer can complete as desired. 1 Car attached garage has been blocked off to add to living space. Built in 1980.

17. 2025-12-22
    price $113,404 189-char remark

    Show marketing remark (189 chars)

    3 Bedroom, 1.5 Bath Split level, Main level in the process of being painted, buyer can complete as desired. 1 Car attached garage has been blocked off to add to living space. Built in 1980.

18. 2025-09-05
    price $113,905 189-char remark

    Show marketing remark (189 chars)

    3 Bedroom, 1.5 Bath Split level, Main level in the process of being painted, buyer can complete as desired. 1 Car attached garage has been blocked off to add to living space. Built in 1980.

19. 2025-03-03
    listed $119,900 Active 189-char remark

    Show marketing remark (189 chars)

    3 Bedroom, 1.5 Bath Split level, Main level in the process of being painted, buyer can complete as desired. 1 Car attached garage has been blocked off to add to living space. Built in 1980.

20. 2007-08-15
    soldstatus $40,000
21. 2006-02-24
    soldstatus $26,000

ⓘ 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: $896 · $75/mo
• Projected year-2 tax: $930 · $77/mo
• Expected delta: +$34/yr (+$3/mo · 3.8%)

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

Climate risk First Street

• 🌊 Flood 1/10 Low 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 4/10 Moderate 7 d/yr ≥105°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: $16,399
• − Mortgage interest: −$6,352
• − Property taxes: −$896
• − Insurance: −$567
• − Repairs & maintenance: −$1,312
• − Management: −$1,312
• − Depreciation: −$3,299
• Taxable income: $2,661
• Est. tax owed @ 24.0%: −$639
• After-tax cash flow: $3,717/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: Southwest School Corporation
• NCES district ID: 1810860
• Math proficiency: 40% ▼ -10.00%
• Reading proficiency: 42% ▼ -9.00%
• Median HH income: $43,624
• Composite: 34.71/100
• National rank: #5136
• State rank: #137 of 301 in IN

Livability — Sullivan

• Score: 70/100
• State rank: #167
• US rank: #7960

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Sullivan, IN
• City population: 8,494
• Population (ZIP): 8,494

Population outlook (Sullivan County) Hauer SSP2

• Today (2025): 20,313 people
• By 2030: 19,908 · -2.0%
• By 2040: 19,009 · -6.4%
• By 2050: 17,972 · -11.5%
• By 2075: 14,929 · -26.5%
• By 2100: 11,391 · -43.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (95%)
• Race & ethnicity: White 95% Two or more races 3%
• Common ancestry: Italian 2% Slovak 2% Iranian 2%
• Foreign-born: 1% · China
• Languages at home: 99% English-only · Spanish 1%

Political lean MEDSL · Sullivan

• 2024 margin: Solid R (+52.7) · D 22.8% · R 75.5% · Other 1.7%
• 2008→2024 swing: -52.0pp toward R · 2008: -0.7pp · 2024: -52.7pp
• All cycles: 2024: R+52.7 2020: R+50.5 2016: R+47.0 2012: R+20.6 2008: R+0.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -23.79%
• Current HPI: 190.5334
• 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

+336.2% since first listed

6 events — show timeline

• 2026-04-13 Relisted — IRMLS
• 2025-12-22 Price Changed $113,404 IRMLS
• 2025-09-05 Price Changed $113,905 IRMLS
• 2025-03-03 Listed $119,900 IRMLS
• 2007-08-15 Sold (Public Records) $40,000 Public Records
• 2006-02-24 Sold (Public Records) $26,000 Public Records

Property tax history

+6.1%/yr

Latest (2024): $896 · +7.8% YoY. Source: county tax records.