114 E Randolph St · La Paz, IN 46537

$140,000

2 bd · 1.0 ba · 1,060 sqft · SingleFamily public records · 2 Days on market

Built 1900 8,712 sqft lot Est $142k · at est.

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Why this score? — see what drove the D 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 +9.4/30.0
• Appreciation +9.4/10.0
• ARV discount +8.1/15.0
• Schools +3.2/10.0
• Livability +3.1/5.0
• DSCR +2.7/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +2.0/10.0

Listing remarks MLS

All "NEWS" since July 2019 - furnace, wtr. htr. , central air, metal roof, most windows-except 2 upstairs windows, flooring, kitchen cabinets, insulation, vinyl siding, wiring, plumbing, softner, front and back doors. Town sewer, 4" well. It appears nothing needed in this home except "YOU"!!!! Room sizes are estimated - no exemptions on taxes. LaPaz sewer system.

Key facts

• 8,712 sq ft lot
• Built 1900
• Listed 2 days

Property features AI

Exterior

• Parking: Off-street parking
• Utilities: Private well water; Public sewer
• Home design: Single-family residence; Site-built home; One story
• Construction: Vinyl siding; Brick/mortar and block foundation
• Exterior features: Level lot; Shed(s)

Interior

• Kitchen: Microwave; Refrigerator
• Bathrooms: 1 full bathroom
• Heating & cooling: Central air conditioning; Forced air heating
• Interior features: Microwave, Refrigerator, Washer, Dryer; Unfinished basement
• Laundry & utility: Main level laundry; Washer and Dryer included

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $140k.

Deal economics

• At list price, monthly cash flow is $-99 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $123k (12.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $98k (30.1% below list).
• Recommended offer: $98k (30.1% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 62/100 on livability (#467 in IN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, employment B+; Watch: crime C-, amenities F, commute F.
• Union-North United School Corporation (rural): math 34% / reading 39% proficiency, ranked #172 of 301 in IN (top 57%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Laville Elementary School (math 40% / reading 35%, grade F, #543 of 994 statewide, top 55%, 654 students, 47% FRL); Laville Jr-Sr High School (math 27% / reading 42%, grade F, #270 of 369 statewide, top 77%, 574 students, 47% FRL).
• Market conditions: 2 active listings in the ZIP; 147 units permitted in Marshall County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $13k of equity ($968 loan paydown + $12k appreciation (8.9% local appreciation)).
• Marshall County population projected to shrink 9% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• By year 3, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 2 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 6y 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.
• Current owner paid $94k; 50% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

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

Recommended offer $97,795 (30.1% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 0.70% ✗
• Cap rate: 5.44%
• Cash-on-cash: -3.03%
• DSCR: 0.87
• GRM: 11.9

CMA / ARV

• ARV (on-the-fly): $142,040
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
106 Vandalia St	0.14mi	3/1.0 (+1)	1,194 (+13%)	12mo	$160,000	$134	58

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

Projected returns pro-forma

8.87% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 19.6%
• Equity multiple: 2.51×
• Total profit: $59,191
• Equity at exit: $114,729

10-year hold

• IRR: 18.1%
• Equity multiple: 5.52×
• Total profit: $177,090
• Equity at exit: $236,217

Cash invested: $39,200 (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 46537

• Home prices YoY: 3.7%
• Active inventory: 2
• Price-to-rent: 11.9×

Monthly cashflow live

• Estimated rent: $978 medium
• Mortgage (P&I): −$734
• Tax from tax record: −$79 /mo · $948/yr
• Insurance: −$58
• HOA: −$0
• Vacancy / Maint / Mgmt: −$205
• Net cashflow: $-99

Break-even live

Break-even rent $1,103

Max offer price $122,520

Occupancy floor —

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: $35,000
• Closing costs: $4,200
• Reserves months: —
• Total cash needed: —

Listing history 4 events

1. 2026-05-30
   status $140,000 Pending 2 DOM
2. 2026-05-27
   listed $140,000 Active
3. 2020-04-16
   soldstatus $93,500 391-char remark

   Show marketing remark (391 chars)

   All "NEWS" since July 2019 - furnace, wtr. htr. , central air, metal roof, most windows-except 2 upstairs windows, flooring, kitchen cabinets, insulation, vinyl siding, wiring, plumbing, softner, front and back doors. Town sewer, 4" well. It appears nothing needed in this home except "YOU"!!!! Room sizes are estimated - no exemptions on taxes. LaPaz sewer system.

4. 2020-01-23
   listed $105,000 391-char remark

   Show marketing remark (391 chars)

   All "NEWS" since July 2019 - furnace, wtr. htr. , central air, metal roof, most windows-except 2 upstairs windows, flooring, kitchen cabinets, insulation, vinyl siding, wiring, plumbing, softner, front and back doors. Town sewer, 4" well. It appears nothing needed in this home except "YOU"!!!! Room sizes are estimated - no exemptions on taxes. LaPaz sewer system.

ⓘ 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: $948 · $79/mo
• Projected year-2 tax: $1,069 · $89/mo
• Expected delta: +$121/yr (+$10/mo · 12.7%)

ⓘ 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 1/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥100°F today · 16 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $11,735
• − Mortgage interest: −$7,842
• − Property taxes: −$948
• − Insurance: −$700
• − Repairs & maintenance: −$939
• − Management: −$939
• − Depreciation: −$4,073
• Taxable loss: −$3,705
• Est. tax savings @ 24.0%: +$889
• After-tax cash flow: $-298/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: Union-North United School Corporation
• NCES district ID: 1811910
• Math proficiency: 34% ▼ -16.00%
• Reading proficiency: 39% ▼ -9.00%
• Median HH income: $50,550
• Composite: 31.63/100
• National rank: #5934
• State rank: #172 of 301 in IN

Livability — La Paz

• Score: 62/100
• State rank: #467
• US rank: #16478

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: La Paz, IN
• City population: 520
• Population (ZIP): 520

Population outlook (Marshall County) Hauer SSP2

• Today (2025): 46,402 people
• By 2030: 45,775 · -1.4%
• By 2040: 44,220 · -4.7%
• By 2050: 42,329 · -8.8%
• By 2075: 38,235 · -17.6%
• By 2100: 33,285 · -28.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (92%)
• Race & ethnicity: White 92% Hispanic / Latino 8%
• Common ancestry: Romanian 6% Slovak 3% Serbian 2%
• Foreign-born: 2% · Canada
• Languages at home: 88% English-only · German/W. Germanic 8% Spanish 4%

Political lean MEDSL · Marshall

• 2024 margin: Solid R (+43.4) · D 27.4% · R 70.8% · Other 1.8%
• 2008→2024 swing: -29.8pp toward R · 2008: -13.6pp · 2024: -43.4pp
• All cycles: 2024: R+43.4 2020: R+40.8 2016: R+41.6 2012: R+28.9 2008: R+13.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 8.87%
• Current HPI: 249.9802
• 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

+33.3% since first listed

3 events — show timeline

• 2026-05-27 Listed $140,000 IRMLS
• 2020-04-16 Sold (MLS) $93,500 IRMLS
• 2020-01-23 Listed $105,000 IRMLS

Property tax history

+2.9%/yr

Latest (2025): $948 · -3.3% YoY. Source: county tax records.