301 S Van Rensselaer St · Rensselaer, IN 47978

$169,900

2 bd · 2.0 ba · 2,900 sqft · SingleFamily public records · 236 Days on market

Built 1897 8,146 sqft lot $59/sqft · 25% below area Est $228k · 25% under ↓ 5% since listing

---

Why this score? — see what drove the D- 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 +6.9/30.0
• Schools +4.2/10.0
• Livability +3.5/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• DSCR +1.1/10.0
• 1% rule +0.8/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Discover this Victorian style gem from the late 19th century! Built in 1897, this home features decorative, original woodwork, tall ceilings, and an enclosed wraparound porch that invites you to slow down and savor a gentler time. Inside you'll find 2900 square feet with multiple rooms offering many floor plan options, 3 bedrooms, 2 1/2 baths, and the modern convenience of a main floor laundry room and attached garage. This home also has a private back yard space, and sits on a corner lot close to the downtown amenities. Come see this treasure and discover the possibilities for yourself!

Key facts

• Downtown amenities
• Private back yard
• Victorian style

Tags

• VICTORIAN STYLE
• ORIGINAL WOODWORK
• ENCLOSED WRAPAROUND PORCH
• PRIVATE BACK YARD
• CORNER LOT
• DOWNTOWN AMENITIES

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath single-family listed at $170k.

Deal economics

• At list price, monthly cash flow is $-259 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $124k (27.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $98k (42.3% below list).
• Recommended offer: $98k (42.3% below list) — sets the bar for 1% rule.
• Cap rate 4.5% vs local median 3.6% in Rensselaer — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

Location & tenants

• Location reads 70/100 on livability (#145 in IN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A, health & safety B; Watch: employment C-, amenities F, commute F.
• Rensselaer Central School Corporation (town): math 45% / reading 53% proficiency, ranked #63 of 301 in IN (top 21%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Rensselaer Middle School (math 38% / reading 45%, grade F, #108 of 330 statewide, top 34%, 342 students, 47% FRL); Rensselaer Central High School (math 32% / reading 72%, grade D+, #106 of 369 statewide, top 31%, 472 students, 42% FRL).
• Market conditions: 81 active listings in the ZIP; 93 units permitted in Jasper County in 2024 (5 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.
• Jasper County population projected at -11% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 236 days — a 12% lower offer ($150k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 2y ago; this cycle's ask has dropped $15k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1897 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $98,011 (42.3% 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 236 days. Have you received any prior offers? Is the seller open to a 42% concession, seller financing, or rate buy-down credit?
3. Built in 1897 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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 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?
7. 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?
8. 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.
9. 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.
10. 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: 0.58% ✗
• Cap rate: 4.46%
• Cash-on-cash: -6.54%
• DSCR: 0.71
• GRM: 14.4

CMA / ARV

• ARV (median comp): $227,834
• List price: $169,900
• Delta: -25.43%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
103 W Grace St	0.10mi	3/3.0 (+1)	2,866 (-1%)	22mo	$201,000	$70	66

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: -27.7%
• Equity multiple: 0.07×
• Total profit: $-44,114
• Equity at exit: $25,333

10-year hold

• IRR: -26.3%
• Equity multiple: -0.26×
• Total profit: $-59,965
• Equity at exit: $14,690

Cash invested: $47,572 (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 47978

• Home prices YoY: -15.4%
• Active inventory: 81
• Price-to-rent: 14.4×

Monthly cashflow live

• Estimated rent: $980 medium
• Mortgage (P&I): −$891
• Tax from tax record: −$72 /mo · $861/yr
• Insurance: −$71
• HOA: −$0
• Vacancy / Maint / Mgmt: −$206
• Net cashflow: $-259

Break-even live

Break-even rent $1,308

Max offer price $124,104

Occupancy floor —

Sensitivity live

Price	-10% $-163	-5% $-211	+0% $-259	+5% $-307	+10% $-355
Rent	-10% $-337	-5% $-298	+0% $-259	+5% $-221	+10% $-182
Rate	-1.0pp $-174	-0.5pp $-216	base $-259	+0.5pp $-303	+1.0pp $-348

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: $42,475
• Closing costs: $5,097
• Reserves months: —
• Total cash needed: —

Listing history 24 events

1. 2026-06-18
   days on market $169,900 Active 236 DOM
2. 2026-06-17
   days on market $169,900 Active 235 DOM
3. 2026-06-16
   days on market $169,900 Active 234 DOM
4. 2026-06-15
   days on market $169,900 Active 233 DOM
5. 2026-06-13
   days on market $169,900 Active 231 DOM
6. 2026-06-12
   days on market $169,900 Active 230 DOM
7. 2026-06-09
   days on market $169,900 Active 227 DOM
8. 2026-06-08
   days on market $169,900 Active 226 DOM
9. 2026-06-07
   days on market $169,900 Active 225 DOM
10. 2026-06-07
    days on market $169,900 Active 224 DOM
11. 2026-06-04
    days on market $169,900 Active 221 DOM
12. 2026-06-02
    days on market $169,900 Active 220 DOM
13. 2026-06-01
    days on market $169,900 Active 219 DOM
14. 2026-05-31
    days on market $169,900 Active 218 DOM
15. 2026-05-31
    days on market $169,900 Active 217 DOM
16. 2026-04-23
    price $169,900 595-char remark

    Show marketing remark (595 chars)

    Discover this Victorian style gem from the late 19th century! Built in 1897, this home features decorative, original woodwork, tall ceilings, and an enclosed wraparound porch that invites you to slow down and savor a gentler time. Inside you'll find 2900 square feet with multiple rooms offering many floor plan options, 3 bedrooms, 2 1/2 baths, and the modern convenience of a main floor laundry room and attached garage. This home also has a private back yard space, and sits on a corner lot close to the downtown amenities. Come see this treasure and discover the possibilities for yourself!

17. 2026-03-26
    price $177,500 595-char remark

    Show marketing remark (595 chars)

    Discover this Victorian style gem from the late 19th century! Built in 1897, this home features decorative, original woodwork, tall ceilings, and an enclosed wraparound porch that invites you to slow down and savor a gentler time. Inside you'll find 2900 square feet with multiple rooms offering many floor plan options, 3 bedrooms, 2 1/2 baths, and the modern convenience of a main floor laundry room and attached garage. This home also has a private back yard space, and sits on a corner lot close to the downtown amenities. Come see this treasure and discover the possibilities for yourself!

18. 2026-01-08
    price $179,900 595-char remark

    Show marketing remark (595 chars)

    Discover this Victorian style gem from the late 19th century! Built in 1897, this home features decorative, original woodwork, tall ceilings, and an enclosed wraparound porch that invites you to slow down and savor a gentler time. Inside you'll find 2900 square feet with multiple rooms offering many floor plan options, 3 bedrooms, 2 1/2 baths, and the modern convenience of a main floor laundry room and attached garage. This home also has a private back yard space, and sits on a corner lot close to the downtown amenities. Come see this treasure and discover the possibilities for yourself!

19. 2025-10-25
    listed $184,900 Active 595-char remark

    Show marketing remark (595 chars)

    Discover this Victorian style gem from the late 19th century! Built in 1897, this home features decorative, original woodwork, tall ceilings, and an enclosed wraparound porch that invites you to slow down and savor a gentler time. Inside you'll find 2900 square feet with multiple rooms offering many floor plan options, 3 bedrooms, 2 1/2 baths, and the modern convenience of a main floor laundry room and attached garage. This home also has a private back yard space, and sits on a corner lot close to the downtown amenities. Come see this treasure and discover the possibilities for yourself!

20. 2024-06-27
    soldstatus $167,000 Closed 662-char remark

    Show marketing remark (662 chars)

    * * * SELLER NOW OFFERING $5000 FOR INTEREST RATE BUY DOWN * * * Step back in time with this Victorian gem boasting an updated exterior (vinyl siding, several new windows, newer roof) that preserves its historical architecture and character. Nestled on a corner lot within walking distance to Rensselaer's busy downtown district, this home fuses classic design and modern amenities. While the interior of the home may take you back to another era, imagine the potential for your personal touch. Seize the opportunity to restore and revitalize this timeless treasure, creating a haven that marries the best of both worlds: tradition and contemporary living.

21. 2024-05-09
    status Pending 662-char remark

    Show marketing remark (662 chars)

    * * * SELLER NOW OFFERING $5000 FOR INTEREST RATE BUY DOWN * * * Step back in time with this Victorian gem boasting an updated exterior (vinyl siding, several new windows, newer roof) that preserves its historical architecture and character. Nestled on a corner lot within walking distance to Rensselaer's busy downtown district, this home fuses classic design and modern amenities. While the interior of the home may take you back to another era, imagine the potential for your personal touch. Seize the opportunity to restore and revitalize this timeless treasure, creating a haven that marries the best of both worlds: tradition and contemporary living.

22. 2024-04-18
    price $169,900 662-char remark

    Show marketing remark (662 chars)

    * * * SELLER NOW OFFERING $5000 FOR INTEREST RATE BUY DOWN * * * Step back in time with this Victorian gem boasting an updated exterior (vinyl siding, several new windows, newer roof) that preserves its historical architecture and character. Nestled on a corner lot within walking distance to Rensselaer's busy downtown district, this home fuses classic design and modern amenities. While the interior of the home may take you back to another era, imagine the potential for your personal touch. Seize the opportunity to restore and revitalize this timeless treasure, creating a haven that marries the best of both worlds: tradition and contemporary living.

23. 2024-03-27
    price $174,900 662-char remark

    Show marketing remark (662 chars)

    * * * SELLER NOW OFFERING $5000 FOR INTEREST RATE BUY DOWN * * * Step back in time with this Victorian gem boasting an updated exterior (vinyl siding, several new windows, newer roof) that preserves its historical architecture and character. Nestled on a corner lot within walking distance to Rensselaer's busy downtown district, this home fuses classic design and modern amenities. While the interior of the home may take you back to another era, imagine the potential for your personal touch. Seize the opportunity to restore and revitalize this timeless treasure, creating a haven that marries the best of both worlds: tradition and contemporary living.

24. 2024-02-28
    listed $179,000 Active 662-char remark

    Show marketing remark (662 chars)

    * * * SELLER NOW OFFERING $5000 FOR INTEREST RATE BUY DOWN * * * Step back in time with this Victorian gem boasting an updated exterior (vinyl siding, several new windows, newer roof) that preserves its historical architecture and character. Nestled on a corner lot within walking distance to Rensselaer's busy downtown district, this home fuses classic design and modern amenities. While the interior of the home may take you back to another era, imagine the potential for your personal touch. Seize the opportunity to restore and revitalize this timeless treasure, creating a haven that marries the best of both worlds: tradition and contemporary living.

ⓘ 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: $861 · $72/mo
• Projected year-2 tax: $1,153 · $96/mo
• Expected delta: +$292/yr (+$24/mo · 33.9%)

ⓘ 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 3/10 Moderate 7 d/yr ≥102°F today · 16 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 0% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $11,761
• − Mortgage interest: −$9,517
• − Property taxes: −$861
• − Insurance: −$850
• − Repairs & maintenance: −$941
• − Management: −$941
• − Depreciation: −$4,943
• Taxable loss: −$6,291
• Est. tax savings @ 24.0%: +$1,510
• After-tax cash flow: $-1,601/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: Rensselaer Central School Corporation
• NCES district ID: 1809420
• Math proficiency: 45% ▲ 3.00%
• Reading proficiency: 53% ▲ 2.00%
• Median HH income: $52,359
• Composite: 42.16/100
• National rank: #3296
• State rank: #63 of 301 in IN

Livability — Rensselaer

• Score: 70/100
• State rank: #145
• US rank: #7381

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Rensselaer, IN
• Population (ZIP): 10,097

Population outlook (Jasper County) Hauer SSP2

• Today (2025): 33,185 people
• By 2030: 32,635 · -1.7%
• By 2040: 31,232 · -5.9%
• By 2050: 29,630 · -10.7%
• By 2075: 25,938 · -21.8%
• By 2100: 21,635 · -34.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (84%)
• Race & ethnicity: White 84% Hispanic / Latino 9% Two or more races 7% Black 1%
• Hispanic origin (detail): Mexican 7% Puerto Rican 1%
• Common ancestry: Romanian 5% Iranian 5% Lithuanian 2%
• Foreign-born: 5% · Canada, China
• Languages at home: 95% English-only · Spanish 4%

Political lean MEDSL · Jasper

• 2024 margin: Solid R (+54.3) · D 22.1% · R 76.4% · Other 1.6%
• 2008→2024 swing: -33.9pp toward R · 2008: -20.4pp · 2024: -54.3pp
• All cycles: 2024: R+54.3 2020: R+49.0 2016: R+45.4 2012: R+25.5 2008: R+20.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -43.74%
• Current HPI: 239.8976
• 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

-5.1% since first listed

9 events — show timeline

• 2026-04-23 Price Changed $169,900 NIRA MLS as Distributed by MLS Grid
• 2026-03-26 Price Changed $177,500 NIRA MLS as Distributed by MLS Grid
• 2026-01-08 Price Changed $179,900 NIRA MLS as Distributed by MLS Grid
• 2025-10-25 Listed $184,900 NIRA MLS as Distributed by MLS Grid
• 2024-06-27 Sold (MLS) $167,000 NIRA MLS as Distributed by MLS Grid
• 2024-05-09 Pending — NIRA MLS as Distributed by MLS Grid
• 2024-04-18 Price Changed $169,900 NIRA MLS as Distributed by MLS Grid
• 2024-03-27 Price Changed $174,900 NIRA MLS as Distributed by MLS Grid
• 2024-02-28 Listed $179,000 NIRA MLS as Distributed by MLS Grid

Property tax history

+16.4%/yr

Latest (2025): $861 · +93.1% YoY. Source: county tax records.