106 SW 2nd St · Loogootee, IN 47553

$69,900

2 bd · 1.0 ba · 800 sqft · SingleFamily public records · 84 Days on market

Built 1960 8,712 sqft lot $87/sqft · 36% below area Est $109k · 36% 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 +27.0/30.0
• ARV discount +15.0/15.0
• DSCR +9.3/10.0
• 1% rule +7.0/10.0
• Appreciation +6.5/10.0
• Schools +3.8/10.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

1 Bed/1 Bath Rental Home For sale in Loogootee Indiana right beside the Subway. . Great Location. Good Roof. Good Renter. Currently Producing an annual Rental Income of approx. $9000.00 – Buy today and start cashing those monthly checks tomorrow. Even when your on Vacation – Wow!!

Key facts

• 8,712 sq ft lot
• Built 1960
• Listed 83 days

🏷️ Possibly a rental listed for sale. The $69,900 price doesn't fit this home's estimated sale value (~$108,934) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $70k.

Deal economics

• At list price, monthly cash flow is $195 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($838 rent vs $70k).
• Recommended offer: $66k (6.0% below list) — sets the bar for market timing.
• Cap rate 9.6% vs local median 2.8% in Loogootee — 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 74/100 on livability (#74 in IN, #4,663 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: employment D, amenities F, commute F.
• Loogootee Community School Corporation (rural): math 42% / reading 48% proficiency, ranked #97 of 301 in IN (top 32%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 63 active listings in the ZIP; 2 units permitted in Martin County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $3k of equity ($483 loan paydown + $2k appreciation (3.0% local appreciation)).
• Martin County population projected at -22% 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 $20k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 84 days — a 6% lower offer ($66k) is reasonable based on typical stale-listing flexibility.

Recommended offer $65,706 (6.0% below list)

Questions for the listing agent

1. It's been on market 84 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1960 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 1.20% ✓
• Cap rate: 9.64%
• Cash-on-cash: 11.96%
• DSCR: 1.53
• GRM: 6.9

CMA / ARV

• ARV (median comp): $108,934
• List price: $69,900
• Delta: -35.83%
• Verdict: UNDERPRICED
• Comps: 12 within 1.0 mi

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
106 SW 3rd St	0.08mi	2/1.0	840 (+5%)	18mo	$76,000	$90	73
302 1/2 Grant St	0.08mi	1/1.0 (-1)	832 (+4%)	16mo	$38,500	$46	71
506 SW 1st St	0.25mi	2/1.0	768 (-4%)	13mo	$102,500	$133	70
305 NE 2nd St	0.34mi	2/1.0	720 (-10%)	8mo	$123,000	$171	60
409 SW 3rd St	0.20mi	2/1.0	903 (+13%)	16mo	$55,000	$61	56

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

Projected returns pro-forma

3.02% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 18.7%
• Equity multiple: 2.07×
• Total profit: $20,901
• Equity at exit: $31,493

10-year hold

• IRR: 20.0%
• Equity multiple: 3.91×
• Total profit: $56,944
• Equity at exit: $48,583

Cash invested: $19,572 (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 47553

• Home prices YoY: 1.4%
• Active inventory: 63
• Price-to-rent: 6.9×

Monthly cashflow live

• Estimated rent: $838 medium
• Mortgage (P&I): −$367
• Tax from tax record: −$72 /mo · $860/yr
• Insurance: −$29
• HOA: −$0
• Vacancy / Maint / Mgmt: −$176
• Net cashflow: $195

Break-even live

Break-even rent $592

Max offer price $69,900

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: $17,475
• Closing costs: $2,097
• Reserves months: —
• Total cash needed: —

Listing history 18 events

1. 2026-06-19
   days on market $69,900 Active 84 DOM
2. 2026-06-18
   days on market $69,900 Active 83 DOM
3. 2026-06-17
   days on market $69,900 Active 82 DOM
4. 2026-06-16
   days on market $69,900 Active 81 DOM
5. 2026-06-15
   days on market $69,900 Active 80 DOM
6. 2026-06-14
   days on market $69,900 Active 78 DOM
7. 2026-06-12
   days on market $69,900 Active 77 DOM
8. 2026-06-09
   days on market $69,900 Active 74 DOM
9. 2026-06-08
   days on market $69,900 Active 73 DOM
10. 2026-06-07
    days on market $69,900 Active 72 DOM
11. 2026-06-07
    days on market $69,900 Active 71 DOM
12. 2026-06-04
    days on market $69,900 Active 68 DOM
13. 2026-06-02
    days on market $69,900 Active 67 DOM
14. 2026-06-01
    days on market $69,900 Active 66 DOM
15. 2026-05-31
    days on market $69,900 Active 65 DOM
16. 2026-05-31
    days on market $69,900 Active 64 DOM
17. 2026-03-27
    listed $75,000 Active 298-char remark

    Show marketing remark (298 chars)

    1 Bed/1 Bath Rental Home For sale in Loogootee Indiana right beside the Subway. . Great Location. Good Roof. Good Renter. Currently Producing an annual Rental Income of approx. $9000.00 – Buy today and start cashing those monthly checks tomorrow. Even when your on Vacation – Wow!!

18. 2023-02-15
    soldstatus $300,000

ⓘ 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: $860 · $72/mo
• Projected year-2 tax: $860 · $72/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

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

Taxation est. · year 1

• Rental income: $10,061
• − Mortgage interest: −$3,915
• − Property taxes: −$860
• − Insurance: −$350
• − Repairs & maintenance: −$805
• − Management: −$805
• − Depreciation: −$2,033
• Taxable income: $1,293
• Est. tax owed @ 24.0%: −$310
• After-tax cash flow: $2,030/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: Loogootee Community School Corporation
• NCES district ID: 1806060
• Math proficiency: 42% ▼ -10.00%
• Reading proficiency: 48% ▼ -6.00%
• Median HH income: $47,513
• Composite: 38.38/100
• National rank: #4209
• State rank: #97 of 301 in IN

Livability — Loogootee

• Score: 74/100
• State rank: #74
• US rank: #4663

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Loogootee, IN
• Population (ZIP): 8,613

Population outlook (Martin County) Hauer SSP2

• Today (2025): 9,585 people
• By 2030: 9,198 · -4.0%
• By 2040: 8,365 · -12.7%
• By 2050: 7,518 · -21.6%
• By 2075: 5,674 · -40.8%
• By 2100: 3,916 · -59.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (95%)
• Race & ethnicity: White 95% Two or more races 2% Hispanic / Latino 1%
• Common ancestry: Italian 5% Slovak 3% Lithuanian 2%
• Foreign-born: 1%
• Languages at home: 89% English-only · German/W. Germanic 10% Spanish 1%

Political lean MEDSL · Martin

• 2024 margin: Solid R (+60.7) · D 18.7% · R 79.4% · Other 1.9%
• 2008→2024 swing: -31.8pp toward R · 2008: -28.9pp · 2024: -60.7pp
• All cycles: 2024: R+60.7 2020: R+58.7 2016: R+58.5 2012: R+40.3 2008: R+28.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 3.02%
• Current HPI: 217.7385
• 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

-75.0% since first listed

2 events — show timeline

• 2026-03-27 Listed $75,000 IRMLS
• 2023-02-15 Sold (Public Records) $300,000 Public Records

Property tax history

+2.8%/yr

Latest (2024): $860 · +7.5% YoY. Source: county tax records.