206 E Hackett St · Carlisle, IN 47838

$25,000

2 bd · 1.0 ba · 1,141 sqft · SingleFamily public records · 102 Days on market

Built 1900 0.40 ac lot $22/sqft · 68% below area

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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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Appreciation +6.7/10.0
• Schools +3.5/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Investor Opportunity in Carlisle! Looking for your next project? This property offers a great opportunity for investors, flippers, or buyers ready to bring new life to a home and build equity. Situated on a spacious lot in Carlisle, this property has solid potential for someone with vision and the willingness to put in the work. Whether you're looking for your next renovation project, rental investment, or a home you can fix up and make your own, this property offers the chance to create something special at an affordable entry point. Conveniently located in town with easy access to local amenities, this is a property with possibilities for the right buyer. Property being sold as-is.

Key facts

• Spacious lot
• Local amenities
• 0.4 acre lot

Tags

• SPACIOUS LOT
• LOCAL AMENITIES
• AFFORDABLE ENTRY POINT

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $25k.

Deal economics

• At list price, monthly cash flow is $617 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($991 rent vs $25k).
• Recommended offer: $23k (9.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 64/100 on livability (#397 in IN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: crime D+, employment D+, amenities 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.
• Zoned schools: Carlisle Elementary School (math 52% / reading 37%, grade F, #379 of 994 statewide, top 41%, 196 students, 67% FRL); Sullivan Middle School (math 39% / reading 45%, grade D-, #102 of 330 statewide, top 32%, 298 students, 49% FRL); Sullivan High School (math 32% / reading 52%, grade F, #197 of 369 statewide, top 57%, 499 students, 46% FRL).
• Market conditions: 13 active listings in the ZIP; 4 units permitted in Sullivan County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $999 of equity ($173 loan paydown + $826 appreciation (3.3% local appreciation)).
• Sullivan County population projected at -12% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (3.3% appreciation + 3.0% rent growth), your $7k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 102 days — a 9% lower offer ($23k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

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

Recommended offer $22,750 (9.0% below list)

Questions for the listing agent

1. It's been on market 102 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1900 — 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. 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?
6. Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
7. 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.
8. 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.
9. 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: 3.97% ✓
• Cap rate: 35.93%
• Cash-on-cash: 105.84%
• DSCR: 5.71
• GRM: 2.1

CMA / ARV

• ARV (median comp): $77,596
• List price: $25,000
• Delta: -67.78%
• Verdict: UNDERPRICED
• Comps: 6 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
307 N Alexander St	0.14mi	3/1.0 (+1)	1,012 (-11%)	1mo	$75,000	$74	69

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

Projected returns pro-forma

3.3% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 7.11×
• Total profit: $42,747
• Equity at exit: $11,670

10-year hold

• IRR: —
• Equity multiple: 14.80×
• Total profit: $96,593
• Equity at exit: $18,326

Cash invested: $7,000 (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 47838

• Home prices YoY: 1.9%
• Active inventory: 13
• Price-to-rent: 2.1×

Monthly cashflow live

• Estimated rent: $991 medium
• Mortgage (P&I): −$131
• Tax from tax record: −$24 /mo · $290/yr
• Insurance: −$10
• HOA: −$0
• Vacancy / Maint / Mgmt: −$208
• Net cashflow: $617

Break-even live

Break-even rent $210

Max offer price $25,000

Occupancy floor 33%

Sensitivity live

Price	-10% $632	-5% $624	+0% $617	+5% $610	+10% $603
Rent	-10% $539	-5% $578	+0% $617	+5% $657	+10% $696
Rate	-1.0pp $630	-0.5pp $624	base $617	+0.5pp $611	+1.0pp $604

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: $6,250
• Closing costs: $750
• Reserves months: —
• Total cash needed: —

Listing history 18 events

1. 2026-06-21
   days on market $25,000 Active 102 DOM
2. 2026-06-21
   days on market $25,000 Active 101 DOM
3. 2026-06-18
   days on market $25,000 Active 99 DOM
4. 2026-06-17
   days on market $25,000 Active 98 DOM
5. 2026-06-16
   days on market $25,000 Active 97 DOM
6. 2026-06-15
   days on market $25,000 Active 96 DOM
7. 2026-06-13
   days on market $25,000 Active 94 DOM
8. 2026-06-12
   days on market $25,000 Active 93 DOM
9. 2026-06-09
   days on market $25,000 Active 90 DOM
10. 2026-06-08
    days on market $25,000 Active 89 DOM
11. 2026-06-07
    days on market $25,000 Active 88 DOM
12. 2026-06-07
    days on market $25,000 Active 87 DOM
13. 2026-06-04
    days on market $25,000 Active 84 DOM
14. 2026-06-02
    days on market $25,000 Active 83 DOM
15. 2026-06-01
    days on market $25,000 Active 82 DOM
16. 2026-05-31
    days on market $25,000 Active 81 DOM
17. 2026-05-31
    days on market $25,000 Active 80 DOM
18. 2026-03-11
    listed $25,000 Active 692-char remark

    Show marketing remark (692 chars)

    Investor Opportunity in Carlisle! Looking for your next project? This property offers a great opportunity for investors, flippers, or buyers ready to bring new life to a home and build equity. Situated on a spacious lot in Carlisle, this property has solid potential for someone with vision and the willingness to put in the work. Whether you're looking for your next renovation project, rental investment, or a home you can fix up and make your own, this property offers the chance to create something special at an affordable entry point. Conveniently located in town with easy access to local amenities, this is a property with possibilities for the right buyer. Property being sold as-is.

ⓘ 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: $290 · $24/mo
• Projected year-2 tax: $290 · $24/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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: $11,895
• − Mortgage interest: −$1,400
• − Property taxes: −$290
• − Insurance: −$125
• − Repairs & maintenance: −$952
• − Management: −$952
• − Depreciation: −$727
• Taxable income: $7,449
• Est. tax owed @ 24.0%: −$1,788
• After-tax cash flow: $5,621/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 — Carlisle

• Score: 64/100
• State rank: #397
• US rank: #14615

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Carlisle, IN
• Population (ZIP): 3,952

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 (73%)
• Race & ethnicity: White 73% Black 15% Two or more races 8% Hispanic / Latino 3%
• Common ancestry: Slovak 2% Lithuanian 1% British 1%
• Foreign-born: 1% · Canada
• Languages at home: 96% 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: ▲ 3.30%
• Current HPI: 179.2112
• 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

1 event — show timeline

• 2026-03-11 Listed $25,000 THAAR

Property tax history

-9.4%/yr

Latest (2024): $290 · -13.0% YoY. Source: county tax records.