606 Adams St · Cannelton, IN 47520

$56,700

3 bd · 2.0 ba · 1,722 sqft · SingleFamily public records · 102 Days on market

Built 1940 3,810 sqft lot $33/sqft · 51% below area ↓ 19% since listing

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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
• Appreciation +8.2/10.0
• ARV discount +7.5/15.0
• Livability +2.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.3/10.0

Listing remarks MLS

Low maintenance brick home with nice open staircase, hardwood floors. Located just blocks from the Ohio River and within a quiet residential neighborhood, this home offers small-town comfort with easy access to local parks, schools, and downtown amenities. Some finishing work will make this a great find!

Key facts

• Open staircase
• Hardwood floors
• 3,810 sq ft lot

Tags

• OPEN STAIRCASE
• HARDWOOD FLOORS
• QUIET RESIDENTIAL NEIGHBORHOOD
• EASY ACCESS TO LOCAL PARKS
• EASY ACCESS TO SCHOOLS

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $57k.

Deal economics

• At list price, monthly cash flow is $575 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $57k).
• Recommended offer: $52k (9.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 53/100 on livability (#643 in IN) — a working-class tenant base; expect higher turnover. Strengths: crime A+, cost of living A+, housing B+; Watch: schools F, amenities F, commute F.
• Cannelton City Schools (town): math 20% / reading 30% proficiency, ranked #303 of 324 in IN (top 94%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 65% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 14 active listings in the ZIP; 31 units permitted in Perry County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $4k of equity ($392 loan paydown + $4k appreciation (6.5% local appreciation)).
• Perry County population projected to shrink 9% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (6.5% appreciation + 3.0% rent growth), your $16k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 8, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 102 days — a 9% lower offer ($52k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1940 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $51,597 (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 1940 — 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 F-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. 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.
7. 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.
8. 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: 2.15% ✓
• Cap rate: 18.46%
• Cash-on-cash: 43.45%
• DSCR: 2.93
• GRM: 3.9

CMA / ARV

• ARV (median comp): $115,741
• List price: $56,700
• Delta: -51.01%
• Verdict: UNDERPRICED
• Comps: 13 within 1.0 mi

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
215 S 3rd St	0.25mi	3/1.5	1,740 (+1%)	14mo	$120,000	$69	73
9 Clifton Hts	0.40mi	2/1.0 (-1)	1,504 (-13%)	14mo	$15,100	$10	39
635 Saint Louis Ave	0.66mi	2/2.0 (-1)	1,905 (+11%)	15mo	$106,000	$56	34
525 Saint Louis Ave	0.53mi	3/1.0	1,470 (-15%)	16mo	$65,000	$44	33

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

Projected returns pro-forma

6.46% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 53.4%
• Equity multiple: 4.44×
• Total profit: $54,541
• Equity at exit: $37,284

10-year hold

• IRR: 49.9%
• Equity multiple: 9.28×
• Total profit: $131,430
• Equity at exit: $69,076

Cash invested: $15,876 (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 47520

• Home prices YoY: 3.3%
• Active inventory: 14
• Price-to-rent: 3.9×

Monthly cashflow live

• Estimated rent: $1,220 medium
• Mortgage (P&I): −$297
• Tax from tax record: −$68 /mo · $814/yr
• Insurance: −$24
• HOA: −$0
• Vacancy / Maint / Mgmt: −$256
• Net cashflow: $575

Break-even live

Break-even rent $492

Max offer price $56,700

Occupancy floor 48%

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: $14,175
• Closing costs: $1,701
• Reserves months: —
• Total cash needed: —

Listing history 18 events

1. 2026-06-18
   days on market $56,700 Active 102 DOM
2. 2026-06-17
   days on market $56,700 Active 101 DOM
3. 2026-06-16
   days on market $56,700 Active 100 DOM
4. 2026-06-15
   days on market $56,700 Active 99 DOM
5. 2026-06-13
   days on market $56,700 Active 97 DOM
6. 2026-06-12
   days on market $56,700 Active 96 DOM
7. 2026-06-09
   days on market $56,700 Active 93 DOM
8. 2026-06-08
   days on market $56,700 Active 92 DOM
9. 2026-06-07
   days on market $56,700 Active 91 DOM
10. 2026-06-07
    days on market $56,700 Active 90 DOM
11. 2026-06-04
    pricedays on market $56,700 Active 87 DOM
12. 2026-06-02
    days on market $64,900 Active 86 DOM
13. 2026-06-01
    days on market $64,900 Active 85 DOM
14. 2026-05-31
    days on market $64,900 Active 84 DOM
15. 2026-05-31
    days on market $64,900 Active 83 DOM
16. 2026-04-23
    price $64,900 305-char remark

    Show marketing remark (305 chars)

    Low maintenance brick home with nice open staircase, hardwood floors. Located just blocks from the Ohio River and within a quiet residential neighborhood, this home offers small-town comfort with easy access to local parks, schools, and downtown amenities. Some finishing work will make this a great find!

17. 2026-04-09
    price $72,000 305-char remark

    Show marketing remark (305 chars)

    Low maintenance brick home with nice open staircase, hardwood floors. Located just blocks from the Ohio River and within a quiet residential neighborhood, this home offers small-town comfort with easy access to local parks, schools, and downtown amenities. Some finishing work will make this a great find!

18. 2026-03-09
    listed $80,000 Active 305-char remark

    Show marketing remark (305 chars)

    Low maintenance brick home with nice open staircase, hardwood floors. Located just blocks from the Ohio River and within a quiet residential neighborhood, this home offers small-town comfort with easy access to local parks, schools, and downtown amenities. Some finishing work will make this a great find!

ⓘ 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: $814 · $68/mo
• Projected year-2 tax: $814 · $68/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 FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 5/10 Major 7 d/yr ≥106°F today · 20 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 3% 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: $14,637
• − Mortgage interest: −$3,176
• − Property taxes: −$814
• − Insurance: −$284
• − Repairs & maintenance: −$1,171
• − Management: −$1,171
• − Depreciation: −$1,649
• Taxable income: $6,373
• Est. tax owed @ 24.0%: −$1,529
• After-tax cash flow: $5,369/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: Cannelton City Schools
• NCES district ID: 1801170
• Math proficiency: 20% ▼ -15.00%
• Reading proficiency: 30% ▼ -25.00%
• Median HH income: $26,975
• Composite: 22.88/100
• National rank: #13390
• State rank: #303 of 324 in IN

Livability — Cannelton

• Score: 53/100
• State rank: #643
• US rank: #24317

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Cannelton, IN
• Population (ZIP): 2,768

Population outlook (Perry County) Hauer SSP2

• Today (2025): 19,125 people
• By 2030: 18,912 · -1.1%
• By 2040: 18,239 · -4.6%
• By 2050: 17,402 · -9.0%
• By 2075: 15,420 · -19.4%
• By 2100: 11,987 · -37.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (96%)
• Race & ethnicity: White 96% Two or more races 1% Black 1%
• Common ancestry: Lithuanian 2% Slovak 2% Iranian 1%
• Foreign-born: 0% · Canada

Political lean MEDSL · Perry

• 2024 margin: Strong R (+29.8) · D 34.3% · R 64.0% · Other 1.7%
• 2008→2024 swing: -52.6pp toward R · 2008: 22.8pp · 2024: -29.8pp
• All cycles: 2024: R+29.8 2020: R+24.6 2016: R+18.6 2012: D+11.6 2008: D+22.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 6.46%
• Current HPI: 201.5059
• 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

-18.9% since first listed

3 events — show timeline

• 2026-04-23 Price Changed $64,900 IRMLS
• 2026-04-09 Price Changed $72,000 IRMLS
• 2026-03-09 Listed $80,000 IRMLS

Property tax history

+2.4%/yr

Latest (2024): $814 · +2.5% YoY. Source: county tax records.