8568 S Academy Way · Ladoga, IN 47954

$139,500

4 bd · 3.0 ba · 2,816 sqft · SingleFamily public records · 26 Days on market

Built 1968 0.51 ac lot Est $234k · 40% 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 +20.3/30.0
• ARV discount +15.0/15.0
• Appreciation +10.0/10.0
• DSCR +6.5/10.0
• 1% rule +4.9/10.0
• Schools +4.4/10.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

IMAGINE a 3950 sq ft. tri-level BRICK home! Endless possibilities! 26x18 Living Room, Large Kitchen, 6 Bedrooms, 3 Full Baths, Office, 17x13 Sitting Room! Newer: Generac generator (New in 2015), Whole House Fan, Recently Installed Steel Roof, Some windows, Electrical Upgraded! Spacious Walk-Out Basement, Comfy Hot Water Boiler Heat/NEW motor, (4) Portable A/C Units Stay! Large KT, Dishwasher, Electric Range, Refrigerator, Microwave. Washer & Dryer Stay in Laundry Room. This BIG Home Needs some TLC, however, owners continue working to update, paint and renew this home! Come see the progress! Situated on a 1/2 ACRE LOT, WITH PARTIAL CHAIN LINK FENCED AREA! Additional 3.06 ACRES Available - to be Sold Separately!

Key facts

• Ample counter space
• Tranquil ladoga
• Storage

Tags

• TRANQUIL LADOGA
• PEACEFUL NEIGHBORHOOD
• LARGE BACKYARD
• FLEXIBLE FLOOR PLAN
• AMPLE COUNTER SPACE
• STORAGE

What this means for you Summary

Snapshot

• This is a 4-bed/3.0-bath single-family listed at $140k.

Deal economics

• At list price, monthly cash flow is $180 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $139k (0.6% below list).
• Recommended offer: $137k (1.5% below list) — sets the bar for market timing.

Location & tenants

• Location reads 67/100 on livability (#244 in IN) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: employment C-, amenities F, commute F.
• South Montgomery Community School Corporation (rural): math 52% / reading 49% proficiency, ranked #46 of 301 in IN (top 15%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 14 active listings in the ZIP; 52 units permitted in Montgomery County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $15k of equity ($964 loan paydown + $14k appreciation (10.0% local appreciation)).
• Montgomery County population projected to shrink 9% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $39k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$38k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 26 days — a 2% lower offer ($137k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 22y ago; this cycle's ask has dropped $8k (5%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Recommended offer $137,407 (1.5% below list)

Questions for the listing agent

1. Built in 1968 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
4. 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.
5. 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.
6. 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: 0.99% ✗
• Cap rate: 7.84%
• Cash-on-cash: 5.53%
• DSCR: 1.25
• GRM: 8.4

CMA / ARV

• ARV (on-the-fly): $233,728
• Comps found: 4

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
210 N Walnut St	0.20mi	4/1.5	2,820 (+0%)	22mo	$225,000	$80	66
321 N Washington St	0.31mi	3/1.5 (-1)	2,634 (-6%)	0mo	$220,000	$84	64
5052 E State Road 234	0.14mi	4/2.0	2,424 (-14%)	16mo	$200,000	$83	52
402 E Main St	0.55mi	3/2.0 (-1)	2,648 (-6%)	23mo	$150,000	$57	36

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

Projected returns pro-forma

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

5-year hold

• IRR: 28.3%
• Equity multiple: 3.24×
• Total profit: $87,429
• Equity at exit: $125,673

10-year hold

• IRR: 24.6%
• Equity multiple: 7.36×
• Total profit: $248,432
• Equity at exit: $271,018

Cash invested: $39,060 (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 47954

• Home prices YoY: 5.0%
• Active inventory: 14
• Price-to-rent: 8.4×

Monthly cashflow live

• Estimated rent: $1,387 medium
• Mortgage (P&I): −$732
• Tax from tax record: −$126 /mo · $1,509/yr
• Insurance: −$58
• HOA: −$0
• Vacancy / Maint / Mgmt: −$291
• Net cashflow: $180

Break-even live

Break-even rent $1,159

Max offer price $139,500

Occupancy floor 82%

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: $34,875
• Closing costs: $4,185
• Reserves months: —
• Total cash needed: —

Listing history 15 events

1. 2026-03-25
   status Pending
2. 2026-03-09
   price $139,500
3. 2026-02-27
   listed $147,500 Active
4. 2018-11-15
   soldstatus $125,000 Sold 733-char remark

   Show marketing remark (733 chars)

   IMAGINE a 3950 sq ft. tri-level BRICK home! Endless possibilities! 26x18 Living Room, Large Kitchen, 6 Bedrooms, 3 Full Baths, Office, 17x13 Sitting Room! Newer: Generac generator (New in 2015), Whole House Fan, Recently Installed Steel Roof, Some windows, Electrical Upgraded! Spacious Walk-Out Basement, Comfy Hot Water Boiler Heat/NEW motor, (4) Portable A/C Units Stay! Large KT, Dishwasher, Electric Range, Refrigerator, Microwave. Washer & Dryer Stay in Laundry Room. This BIG Home Needs some TLC, however, owners continue working to update, paint and renew this home! Come see the progress! Situated on a 1/2 ACRE LOT, WITH PARTIAL CHAIN LINK FENCED AREA! Additional 3.06 ACRES Available - to be Sold Separately!

5. 2018-10-14
   status Pending 733-char remark

   Show marketing remark (733 chars)

   IMAGINE a 3950 sq ft. tri-level BRICK home! Endless possibilities! 26x18 Living Room, Large Kitchen, 6 Bedrooms, 3 Full Baths, Office, 17x13 Sitting Room! Newer: Generac generator (New in 2015), Whole House Fan, Recently Installed Steel Roof, Some windows, Electrical Upgraded! Spacious Walk-Out Basement, Comfy Hot Water Boiler Heat/NEW motor, (4) Portable A/C Units Stay! Large KT, Dishwasher, Electric Range, Refrigerator, Microwave. Washer & Dryer Stay in Laundry Room. This BIG Home Needs some TLC, however, owners continue working to update, paint and renew this home! Come see the progress! Situated on a 1/2 ACRE LOT, WITH PARTIAL CHAIN LINK FENCED AREA! Additional 3.06 ACRES Available - to be Sold Separately!

6. 2017-12-03
   listed $129,900 Active 733-char remark

   Show marketing remark (733 chars)

   IMAGINE a 3950 sq ft. tri-level BRICK home! Endless possibilities! 26x18 Living Room, Large Kitchen, 6 Bedrooms, 3 Full Baths, Office, 17x13 Sitting Room! Newer: Generac generator (New in 2015), Whole House Fan, Recently Installed Steel Roof, Some windows, Electrical Upgraded! Spacious Walk-Out Basement, Comfy Hot Water Boiler Heat/NEW motor, (4) Portable A/C Units Stay! Large KT, Dishwasher, Electric Range, Refrigerator, Microwave. Washer & Dryer Stay in Laundry Room. This BIG Home Needs some TLC, however, owners continue working to update, paint and renew this home! Come see the progress! Situated on a 1/2 ACRE LOT, WITH PARTIAL CHAIN LINK FENCED AREA! Additional 3.06 ACRES Available - to be Sold Separately!

7. 2017-11-27
   historical
8. 2017-10-03
   listed $129,900 Active
9. 2017-10-02
   listed $129,900
10. 2007-02-19
    historical
11. 2006-08-22
    listed $114,490
12. 2006-03-15
    historical
13. 2005-09-19
    listed $114,500
14. 2005-04-15
    historical
15. 2004-10-18
    listed $109,900

ⓘ 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: $1,509 · $126/mo
• Projected year-2 tax: $1,509 · $126/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 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥101°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: $16,638
• − Mortgage interest: −$7,814
• − Property taxes: −$1,509
• − Insurance: −$698
• − Repairs & maintenance: −$1,331
• − Management: −$1,331
• − Depreciation: −$4,058
• Taxable loss: −$102
• Est. tax savings @ 24.0%: +$25
• After-tax cash flow: $2,184/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: South Montgomery Community School Corporation
• NCES district ID: 1810450
• Math proficiency: 52% ▼ -3.00%
• Reading proficiency: 49% ▼ -4.00%
• Median HH income: $55,952
• Composite: 43.79/100
• National rank: #2935
• State rank: #46 of 301 in IN

Livability — Ladoga

• Score: 67/100
• State rank: #244
• US rank: #10363

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Ladoga, IN
• Population (ZIP): 2,223

Population outlook (Montgomery County) Hauer SSP2

• Today (2025): 37,893 people
• By 2030: 37,539 · -0.9%
• By 2040: 36,536 · -3.6%
• By 2050: 34,454 · -9.1%
• By 2075: 28,852 · -23.9%
• By 2100: 21,145 · -44.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (95%)
• Race & ethnicity: White 95% Two or more races 2% Asian 2% Hispanic / Latino 1%
• Common ancestry: Scottish 5% Romanian 2% Slovak 2%
• Foreign-born: 1%
• Languages at home: 99% English-only · Other Asian/Pacific 1%

Political lean MEDSL · Montgomery

• 2024 margin: Solid R (+48.2) · D 24.9% · R 73.2% · Other 1.9%
• 2008→2024 swing: -28.3pp toward R · 2008: -19.9pp · 2024: -48.2pp
• All cycles: 2024: R+48.2 2020: R+49.1 2016: R+50.9 2012: R+38.5 2008: R+19.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 11.04%
• Current HPI: 232.3894
• 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

+26.9% since first listed

15 events — show timeline

• 2026-03-25 Pending — MIBOR as Distributed by MLS Grid
• 2026-03-09 Price Changed $139,500 MIBOR as Distributed by MLS Grid
• 2026-02-27 Listed $147,500 MIBOR as Distributed by MLS Grid
• 2018-11-15 Sold (MLS) $125,000 MIBOR as Distributed by MLS Grid
• 2018-10-14 Pending — MIBOR as Distributed by MLS Grid
• 2017-12-03 Listed $129,900 MIBOR as Distributed by MLS Grid
• 2017-11-27 Listing Removed — MIBOR as Distributed by MLS Grid
• 2017-10-03 Listed $129,900 MIBOR as Distributed by MLS Grid
• 2017-10-02 Listed $129,900 IRMLS
• 2007-02-19 Listing Removed — MIBOR as Distributed by MLS Grid
• 2006-08-22 Listed $114,490 MIBOR as Distributed by MLS Grid
• 2006-03-15 Listing Removed — MIBOR as Distributed by MLS Grid
• 2005-09-19 Listed $114,500 MIBOR as Distributed by MLS Grid
• 2005-04-15 Listing Removed — MIBOR as Distributed by MLS Grid
• 2004-10-18 Listed $109,900 MIBOR as Distributed by MLS Grid

Property tax history

+13.9%/yr

Latest (2025): $1,509 · +3.0% YoY. Source: county tax records.