3011 E County Road 1800 N · Summitville, IN 46070

$75,000

2 bd · 1.0 ba · 1,807 sqft · SingleFamily · 72 Days on market

Built 1899 Poor condition 1.31 ac lot $42/sqft · 71% 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
• DSCR +10.0/10.0
• Appreciation +10.0/10.0
• 1% rule +8.7/10.0
• ARV discount +7.5/15.0
• Livability +3.3/5.0
• Schools +3.1/10.0
• Rent growth +2.5/5.0
• Condition / age +1.0/5.0

Listing remarks MLS

Investor Special! 1.31 Acres Here!

Key facts

• 1.31 acre lot
• 2 garage spots
• Built 1899

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $75k. Condition is rated poor.

Deal economics

• At list price, monthly cash flow is $291 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $75k).
• Recommended offer: $70k (6.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 66/100 on livability (#310 in IN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: employment D+, schools D, crime D.
• Madison-Grant United School Corporation (rural): math 32% / reading 40% proficiency, ranked #180 of 301 in IN (top 60%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 12 active listings in the ZIP; 184 units permitted in Madison County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $8k of equity ($519 loan paydown + $8k appreciation (10.0% local appreciation)).
• Madison County population projected at -14% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $21k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 5, paydown + projected appreciation supports a ~$37k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 72 days — a 6% lower offer ($70k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1899 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $70,500 (6.0% below list)

Questions for the listing agent

1. It's been on market 72 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
3. Built in 1899 — 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. 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?
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: 1.37% ✓
• Cap rate: 10.94%
• Cash-on-cash: 16.60%
• DSCR: 1.74
• GRM: 6.1

CMA / ARV

• ARV (median comp): $257,402
• List price: $75,000
• Delta: -70.86%
• Verdict: UNDERPRICED
• Comps: 6 within 2.0 mi

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 36.6%
• Equity multiple: 3.83×
• Total profit: $59,365
• Equity at exit: $67,566

10-year hold

• IRR: 31.5%
• Equity multiple: 8.63×
• Total profit: $160,300
• Equity at exit: $145,709

Cash invested: $21,000 (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 46070

• Home prices YoY: 12.2%
• Active inventory: 12
• Price-to-rent: 6.1×

Monthly cashflow live

• Estimated rent: $1,024 medium
• Mortgage (P&I): −$393
• Tax est. 1.5%: −$94 /mo · $1,125/yr
• Insurance: −$31
• HOA: −$0
• Vacancy / Maint / Mgmt: −$215
• Net cashflow: $291

Break-even live

Break-even rent $656

Max offer price $75,000

Occupancy floor 67%

Sensitivity live

Price	-10% $342	-5% $316	+0% $291	+5% $265	+10% $239
Rent	-10% $210	-5% $250	+0% $291	+5% $331	+10% $371
Rate	-1.0pp $328	-0.5pp $310	base $291	+0.5pp $271	+1.0pp $251

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: $18,750
• Closing costs: $2,250
• Reserves months: —
• Total cash needed: —

Listing history 15 events

1. 2026-06-19
   days on market $75,000 Active 72 DOM
2. 2026-06-18
   days on market $75,000 Active 71 DOM
3. 2026-06-17
   days on market $75,000 Active 70 DOM
4. 2026-06-16
   days on market $75,000 Active 69 DOM
5. 2026-06-15
   days on market $75,000 Active 68 DOM
6. 2026-06-14
   days on market $75,000 Active 66 DOM
7. 2026-06-12
   days on market $75,000 Active 65 DOM
8. 2026-06-09
   days on market $75,000 Active 62 DOM
9. 2026-06-08
   days on market $75,000 Active 61 DOM
10. 2026-06-07
    days on market $75,000 Active 60 DOM
11. 2026-06-02
    days on market $75,000 Active 55 DOM
12. 2026-06-01
    days on market $75,000 Active 54 DOM
13. 2026-05-31
    days on market $75,000 Active 53 DOM
14. 2026-05-30
    days on market $75,000 Active 52 DOM
15. 2026-04-08
    listed $75,000 Active 34-char remark

    Show marketing remark (34 chars)

    Investor Special! 1.31 Acres Here!

ⓘ 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 ≥100°F today · 18 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% 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: $12,286
• − Mortgage interest: −$4,201
• − Property taxes: −$1,125
• − Insurance: −$375
• − Repairs & maintenance: −$983
• − Management: −$983
• − Depreciation: −$2,182
• Taxable income: $2,437
• Est. tax owed @ 24.0%: −$585
• After-tax cash flow: $2,901/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.

Condition & rehab AI · 13 photos

Poor 20/100 Extensive rehab

This property requires extensive repairs and updates to become move-in ready. Significant work is needed on the roof, exterior, flooring, and interior to improve its condition and value.

Repairs flagged

• Major roof — Signs of significant damage
• Major exterior siding — Exposed and peeling
• Major flooring — Damaged and uneven
• Major interior walls — Peeling paint and exposed drywall
• Major bathrooms — Unmaintained and cluttered

Value-add opportunities

• Both Painting and updating exterior — Enhances curb appeal and resale value
• Both New flooring and interior wall repair — Improves living space and rental appeal
• Both Bathroom renovation — Enhances functionality and rental appeal

Renovation cost estimate screening

Repair item	Severity	Est. cost
roof · Signs of significant damage	Major	$15,000–50,000
exterior siding · Exposed and peeling	Major	$15,000–50,000
flooring · Damaged and uneven	Major	$15,000–50,000
interior walls · Peeling paint and exposed drywall	Major	$15,000–50,000
bathrooms · Unmaintained and cluttered	Major	$15,000–50,000
Total estimated repair cost · 5 items		$75,000–250,000

Value-add ROI direction

• Both Painting and updating exterior — Enhances curb appeal and resale value ↑
• Both New flooring and interior wall repair — Improves living space and rental appeal ↑
• Both Bathroom renovation — Enhances functionality and rental appeal ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Madison-Grant United School Corporation
• NCES district ID: 1806240
• Math proficiency: 32% ▼ -8.00%
• Reading proficiency: 40% ▼ -9.00%
• Median HH income: $47,917
• Composite: 30.95/100
• National rank: #6107
• State rank: #180 of 301 in IN

Livability — Summitville

• Score: 66/100
• State rank: #310
• US rank: #12277

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

• Population (ZIP): 2,289

Population outlook (Madison County) Hauer SSP2

• Today (2025): 125,800 people
• By 2030: 122,640 · -2.5%
• By 2040: 115,420 · -8.3%
• By 2050: 108,148 · -14.0%
• By 2075: 91,838 · -27.0%
• By 2100: 75,670 · -39.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (96%)
• Race & ethnicity: White 96% Two or more races 3%
• Common ancestry: Lithuanian 3% Iranian 2% Italian 2%
• Foreign-born: 0%

Political lean MEDSL · Madison

• 2024 margin: Strong R (+26.9) · D 35.6% · R 62.5% · Other 1.9%
• 2008→2024 swing: -33.5pp toward R · 2008: 6.5pp · 2024: -26.9pp
• All cycles: 2024: R+26.9 2020: R+22.6 2016: R+25.7 2012: R+4.5 2008: D+6.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 25.48%
• Current HPI: 233.4985
• 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

• 2026-04-08 Listed $75,000 IRMLS