104 S Scott St · Rensselaer, IN 47978

$74,900

1 bd · 1.0 ba · 560 sqft · SingleFamily public records · 7 Days on market

Built 1900 8,276 sqft lot Est $75k · at est.

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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).

• Cash flow +27.0/30.0
• DSCR +9.4/10.0
• ARV discount +7.6/15.0
• 1% rule +7.3/10.0
• Schools +4.2/10.0
• 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

Own this home for less than you can rent. Block walls and metal roof makes it easy and inexpensive to heat and cool and very little maintenance. Updates include new exterior paint and garage doors, new heating and cooling mini-split unit, and fresh interior paint. The large living room is open to the kitchen with lots of counter space and island open space. Around the corner is the full bathroom, laundry room and one bedroom. There is 220 in the garage. There is a large yard to enjoy.

Key facts

• Metal roof
• Island open space
• Full bathroom

Tags

• METAL ROOF
• FRESH INTERIOR PAINT
• LARGE LIVING ROOM
• LOTS OF COUNTER SPACE
• ISLAND OPEN SPACE
• FULL BATHROOM

Property features AI

Finance

• Other: Occupant: Vacant

Exterior

• Parking: Off-street parking; Gravel parking area; Garage faces front; Additional parking; 1-car garage
• Security: Smoke detector(s)
• Utilities: Electricity connected (100 amp service); Natural gas connected; Public water; Public sewer
• Home design: Single-story; Built in 1900
• Construction: Metal roof; No construction material or foundation details listed
• Exterior features: Neighborhood view; No additional exterior features listed

Interior

• Kitchen: Range; Refrigerator
• Bedrooms: Primary bedroom
• Flooring: Vinyl flooring
• Bathrooms: 1 full bathroom
• Heating & cooling: Heating: Other; Cooling: Ceiling fan(s)
• Interior features: Ceiling fan(s); Smoke detector(s); No additional interior features listed
• Laundry & utility: Washer and dryer on main level

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath single-family listed at $75k.

Deal economics

• At list price, monthly cash flow is $211 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($922 rent vs $75k).
• Cap rate 9.7% vs local median 3.6% in Rensselaer — 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 (#145 in IN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A, health & safety B; Watch: employment C-, schools D-, amenities 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.
• Market conditions: 80 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 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 $518 of loan paydown is wiped out by about $2k 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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $21k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• Only 7 days on market — expect competitive offers; lowballing is unlikely to land.
• 8 sale attempts since 8y 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.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $74,900

Questions for the listing agent

1. Built in 1900 — 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 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?
4. 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.
5. 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.
6. 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: 1.23% ✓
• Cap rate: 9.67%
• Cash-on-cash: 12.06%
• DSCR: 1.54
• GRM: 6.8

CMA / ARV

• ARV (on-the-fly): $75,040
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
104 S Scott St	0.00mi	1/1.0	560 (0%)	0mo	$74,900	$134	100
104 S Scott St	0.00mi	1/1.0	560 (0%)	21mo	$65,500	$117	82

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: 1.6%
• Equity multiple: 1.06×
• Total profit: $1,300
• Equity at exit: $11,168

10-year hold

• IRR: 11.2%
• Equity multiple: 1.88×
• Total profit: $18,474
• Equity at exit: $6,476

Cash invested: $20,972 (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: 80
• Price-to-rent: 6.8×

Monthly cashflow live

• Estimated rent: $922 medium
• Mortgage (P&I): −$393
• Tax est. 1.5%: −$94 /mo · $1,124/yr
• Insurance: −$31
• HOA: −$0
• Vacancy / Maint / Mgmt: −$194
• Net cashflow: $211

Break-even live

Break-even rent $655

Max offer price $74,900

Occupancy floor 72%

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: $18,725
• Closing costs: $2,247
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
960 E B-Mar Dr Rensselaer, IN	1.0	1.0	644	$922	$1.43	21d	1	0.32mi

Listing history 18 events

1. 2026-05-19
   listed $74,900 Active
2. 2024-09-13
   soldstatus $65,500 Closed 489-char remark

   Show marketing remark (489 chars)

   Own this home for less than you can rent. Block walls and metal roof makes it easy and inexpensive to heat and cool and very little maintenance. Updates include new exterior paint and garage doors, new heating and cooling mini-split unit, and fresh interior paint. The large living room is open to the kitchen with lots of counter space and island open space. Around the corner is the full bathroom, laundry room and one bedroom. There is 220 in the garage. There is a large yard to enjoy.

3. 2024-08-15
   status Pending 489-char remark

   Show marketing remark (489 chars)

   Own this home for less than you can rent. Block walls and metal roof makes it easy and inexpensive to heat and cool and very little maintenance. Updates include new exterior paint and garage doors, new heating and cooling mini-split unit, and fresh interior paint. The large living room is open to the kitchen with lots of counter space and island open space. Around the corner is the full bathroom, laundry room and one bedroom. There is 220 in the garage. There is a large yard to enjoy.

4. 2024-08-14
   status Active 489-char remark

   Show marketing remark (489 chars)

   Own this home for less than you can rent. Block walls and metal roof makes it easy and inexpensive to heat and cool and very little maintenance. Updates include new exterior paint and garage doors, new heating and cooling mini-split unit, and fresh interior paint. The large living room is open to the kitchen with lots of counter space and island open space. Around the corner is the full bathroom, laundry room and one bedroom. There is 220 in the garage. There is a large yard to enjoy.

5. 2024-08-08
   status Pending 489-char remark

   Show marketing remark (489 chars)

   Own this home for less than you can rent. Block walls and metal roof makes it easy and inexpensive to heat and cool and very little maintenance. Updates include new exterior paint and garage doors, new heating and cooling mini-split unit, and fresh interior paint. The large living room is open to the kitchen with lots of counter space and island open space. Around the corner is the full bathroom, laundry room and one bedroom. There is 220 in the garage. There is a large yard to enjoy.

6. 2024-08-05
   listed $64,900 Active 489-char remark

   Show marketing remark (489 chars)

   Own this home for less than you can rent. Block walls and metal roof makes it easy and inexpensive to heat and cool and very little maintenance. Updates include new exterior paint and garage doors, new heating and cooling mini-split unit, and fresh interior paint. The large living room is open to the kitchen with lots of counter space and island open space. Around the corner is the full bathroom, laundry room and one bedroom. There is 220 in the garage. There is a large yard to enjoy.

7. 2022-11-10
   soldstatus $43,000 Closed 418-char remark

   Show marketing remark (418 chars)

   Why rent when you can own??? This 1 bedroom 1 bath home offers an affordable opportunity to own your own place. The living room offers fresh paint & is open to the kitchen area. The finished laundry area leads the way to a nice sized bedroom and a full bath. This home comes with all appliances and possession at closing! The attached garage offers storage and there is a huge back yard for outdoor entertaining!

8. 2022-10-13
   status Pending 418-char remark

   Show marketing remark (418 chars)

   Why rent when you can own??? This 1 bedroom 1 bath home offers an affordable opportunity to own your own place. The living room offers fresh paint & is open to the kitchen area. The finished laundry area leads the way to a nice sized bedroom and a full bath. This home comes with all appliances and possession at closing! The attached garage offers storage and there is a huge back yard for outdoor entertaining!

9. 2022-08-10
   listed $45,000 Active 418-char remark

   Show marketing remark (418 chars)

   Why rent when you can own??? This 1 bedroom 1 bath home offers an affordable opportunity to own your own place. The living room offers fresh paint & is open to the kitchen area. The finished laundry area leads the way to a nice sized bedroom and a full bath. This home comes with all appliances and possession at closing! The attached garage offers storage and there is a huge back yard for outdoor entertaining!

10. 2022-01-05
    soldstatus $39,000 Closed
11. 2022-01-05
    soldstatus $39,000
12. 2021-11-30
    status Pending
13. 2021-11-23
    historical Active Under Contract
14. 2021-05-13
    listed $45,000 Active
15. 2021-05-13
    listed $45,000
16. 2019-11-29
    historical
17. 2018-11-28
    listed $33,500
18. 2018-11-28
    listed $33,500

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

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 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $11,064
• − Mortgage interest: −$4,196
• − Property taxes: −$1,124
• − Insurance: −$374
• − Repairs & maintenance: −$885
• − Management: −$885
• − Depreciation: −$2,179
• Taxable income: $1,421
• Est. tax owed @ 24.0%: −$341
• After-tax cash flow: $2,188/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

+123.6% since first listed

18 events — show timeline

• 2026-05-19 Listed $74,900 NIRA MLS as Distributed by MLS Grid
• 2024-09-13 Sold (MLS) $65,500 NIRA MLS as Distributed by MLS Grid
• 2024-08-15 Pending — NIRA MLS as Distributed by MLS Grid
• 2024-08-14 Relisted — NIRA MLS as Distributed by MLS Grid
• 2024-08-08 Pending — NIRA MLS as Distributed by MLS Grid
• 2024-08-05 Listed $64,900 NIRA MLS as Distributed by MLS Grid
• 2022-11-10 Sold (MLS) $43,000 NIRA MLS as Distributed by MLS Grid
• 2022-10-13 Pending — NIRA MLS as Distributed by MLS Grid
• 2022-08-10 Listed $45,000 NIRA MLS as Distributed by MLS Grid
• 2022-01-05 Sold (MLS) $39,000 IRMLS
• 2022-01-05 Sold (MLS) $39,000 NIRA MLS as Distributed by MLS Grid
• 2021-11-30 Pending — NIRA MLS as Distributed by MLS Grid
• 2021-11-23 Contingent — NIRA MLS as Distributed by MLS Grid
• 2021-05-13 Listed $45,000 NIRA MLS as Distributed by MLS Grid
• 2021-05-13 Listed $45,000 IRMLS
• 2019-11-29 Listing Removed — NIRA MLS as Distributed by MLS Grid
• 2018-11-28 Listed $33,500 NIRA MLS as Distributed by MLS Grid
• 2018-11-28 Listed $33,500 IRMLS

Property tax history

-14.1%/yr

Latest (2025): $79 · +453.8% YoY. Source: county tax records.