322 S 13th St · Richmond, IN 47374

$89,900

3 bd · 1.0 ba · 1,600 sqft · SingleFamily public records · 45 Days on market

Built 1910 8,581 sqft lot Est $93k · at est. ↓ 14% 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
• DSCR +10.0/10.0
• ARV discount +8.9/15.0
• 1% rule +8.1/10.0
• Livability +4.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.9/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Spacious and well-maintained, 322 S 13th St offers excellent value with key updates and a highly desirable location. This home features a newer roof, gas heat, and upper-level electric baseboard heat, providing efficient and flexible comfort options. Inside, you’ll find generously sized rooms throughout, along with ample counter space, making everyday living and entertaining easy. The layout offers functionality and space rarely found at this price point. Outside, enjoy a large yard, a detached 2-car garage, and a covered front porch—perfect for relaxing or adding curb appeal. This home is next door to Vaile Elementary School and just minutes from The Promenade, the arcade, shopping, dining, and many other local attractions, offering convenience for both daily living and recreation. Ideal for any homebuyer or investor, this property presents strong long-term potential. Seller is highly motivated, making this an excellent opportunity you don’t want to miss. 24 hr notice required. Schedule your private showing today. Contact: Brian Ingle @ 765-960-0533

Key facts

• 8,581 sq ft lot
• 2 garage spots
• Built 1910

Property features AI

Exterior

• Parking: Detached 2-car garage (about 400 sq ft)
• Utilities: Public water; Municipal sewer connected; Solid waste service available
• Home design: Single-family residence; Two levels
• Construction: Vinyl siding; Block foundation
• Exterior features: Approximately 0.2-acre lot (< 1/4 acre)

Interior

• Kitchen: Eat-in kitchen
• Bedrooms: Three bedrooms on the upper level (sizes: 13.64 × 12.90; 13.57 × 10.70; and one upper bedroom 17.03 × 13.54)
• Bathrooms: One full bathroom (main level)
• Heating & cooling: Forced air heating; Window air conditioning units
• Interior features: Eat-in kitchen; Basement
• Laundry & utility: Main-level laundry (approx. 13.29 × 11.04)

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $90k.

Deal economics

• At list price, monthly cash flow is $355 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $90k).
• Recommended offer: $87k (3.0% below list) — sets the bar for market timing.
• Cap rate 11.0% vs local median 5.2% in Richmond — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 83/100 on livability (#10 in IN, #869 nationally) — a professional / high-income tenant draw. Strengths: commute A+, cost of living A+, housing A+; Watch: crime D+, schools D-, employment D-.
• Richmond Community Schools (town): math 18% / reading 27% proficiency, ranked #270 of 301 in IN (top 90%) — 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: 273 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 38 units permitted in Wayne County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $622 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Wayne County population projected at -21% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $25k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 45 days — a 3% lower offer ($87k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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.

Risks & watch-outs

• Watch-outs: built in 1910 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $87,203 (3.0% below list)

Questions for the listing agent

1. It's been on market 45 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1910 — 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 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?
5. 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?
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: 1.31% ✓
• Cap rate: 11.04%
• Cash-on-cash: 16.94%
• DSCR: 1.75
• GRM: 6.3

CMA / ARV

• ARV (on-the-fly): $92,800
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
505 S 12th St	0.17mi	3/1.0	1,612 (+1%)	8mo	$31,000	$19	85
518 S 15th St	0.25mi	3/1.5	1,514 (-5%)	9mo	$170,000	$112	70
301 S 16th St	0.26mi	3/2.5	1,782 (+11%)	4mo	$270,000	$152	60
611 S 12th St	0.26mi	3/1.5	1,414 (-12%)	9mo	$60,000	$42	58
117 S 15th St	0.27mi	2/2.0 (-1)	1,380 (-14%)	2mo	$79,900	$58	54
52 S South 12th St	0.29mi	4/2.0 (+1)	1,836 (+15%)	2mo	$140,000	$76	51
1903 N A St	0.69mi	3/2.0	1,464 (-8%)	2mo	$62,000	$42	48
623 S 9th St	0.37mi	2/1.0 (-1)	1,382 (-14%)	9mo	$47,000	$34	48
231 N 18th St	0.73mi	3/1.0	1,452 (-9%)	4mo	$104,900	$72	47
415 N 14th St	0.71mi	3/1.5	1,762 (+10%)	8mo	$55,500	$31	42
135 S 21st St	0.63mi	4/2.5 (+1)	1,820 (+14%)	4mo	$213,000	$117	33
1027 S 8th St	0.68mi	2/1.5 (-1)	1,375 (-14%)	9mo	$23,000	$17	30

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

Projected returns pro-forma

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

5-year hold

• IRR: 8.2%
• Equity multiple: 1.32×
• Total profit: $8,051
• Equity at exit: $13,404

10-year hold

• IRR: 17.4%
• Equity multiple: 2.43×
• Total profit: $36,109
• Equity at exit: $7,773

Cash invested: $25,172 (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 47374

• Active inventory: 273
• Price-to-rent: 6.3×

Monthly cashflow live

• Estimated rent: $1,180 medium
• Mortgage (P&I): −$471
• Tax from tax record: −$68 /mo · $820/yr
• Insurance: −$37
• HOA: −$0
• Vacancy / Maint / Mgmt: −$248
• Net cashflow: $355

Break-even live

Break-even rent $731

Max offer price $89,900

Occupancy floor 65%

Sensitivity live

Price	-10% $406	-5% $381	+0% $355	+5% $330	+10% $304
Rent	-10% $262	-5% $309	+0% $355	+5% $402	+10% $449
Rate	-1.0pp $401	-0.5pp $378	base $355	+0.5pp $332	+1.0pp $308

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: $22,475
• Closing costs: $2,697
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1032 S 23rd St Richmond, IN	1.0–2.0	1.0	937	$790	$0.84	44d	4	0.89mi

Listing history 18 events

1. 2026-06-19
   days on market $89,900 Active 45 DOM
2. 2026-06-18
   days on market $89,900 Active 44 DOM
3. 2026-06-17
   days on market $89,900 Active 43 DOM
4. 2026-06-16
   days on market $89,900 Active 42 DOM
5. 2026-06-15
   days on market $89,900 Active 41 DOM
6. 2026-06-14
   days on market $89,900 Active 39 DOM
7. 2026-06-12
   days on market $89,900 Active 38 DOM
8. 2026-06-09
   days on market $89,900 Active 35 DOM
9. 2026-06-08
   days on market $89,900 Active 34 DOM
10. 2026-06-07
    days on market $89,900 Active 33 DOM
11. 2026-06-03
    days on market $89,900 Active 29 DOM
12. 2026-06-02
    days on market $89,900 Active 28 DOM
13. 2026-06-01
    days on market $89,900 Active 27 DOM
14. 2026-05-31
    days on market $89,900 Active 26 DOM
15. 2026-05-30
    days on market $89,900 Active 25 DOM
16. 2026-05-04
    listed $89,900 Active
17. 2026-04-15
    price $89,900 1084-char remark

    Show marketing remark (1084 chars)

    Spacious and well-maintained, 322 S 13th St offers excellent value with key updates and a highly desirable location. This home features a newer roof, gas heat, and upper-level electric baseboard heat, providing efficient and flexible comfort options. Inside, you&rsquo;ll find generously sized rooms throughout, along with ample counter space, making everyday living and entertaining easy. The layout offers functionality and space rarely found at this price point. Outside, enjoy a large yard, a detached 2-car garage, and a covered front porch&mdash;perfect for relaxing or adding curb appeal. This home is next door to Vaile Elementary School and just minutes from The Promenade, the arcade, shopping, dining, and many other local attractions, offering convenience for both daily living and recreation. Ideal for any homebuyer or investor, this property presents strong long-term potential. Seller is highly motivated, making this an excellent opportunity you don&rsquo;t want to miss. 24 hr notice required. Schedule your private showing today. Contact: Brian Ingle @ 765-960-0533

18. 2026-01-23
    listed $104,000 Active 1084-char remark

    Show marketing remark (1084 chars)

    Spacious and well-maintained, 322 S 13th St offers excellent value with key updates and a highly desirable location. This home features a newer roof, gas heat, and upper-level electric baseboard heat, providing efficient and flexible comfort options. Inside, you&rsquo;ll find generously sized rooms throughout, along with ample counter space, making everyday living and entertaining easy. The layout offers functionality and space rarely found at this price point. Outside, enjoy a large yard, a detached 2-car garage, and a covered front porch&mdash;perfect for relaxing or adding curb appeal. This home is next door to Vaile Elementary School and just minutes from The Promenade, the arcade, shopping, dining, and many other local attractions, offering convenience for both daily living and recreation. Ideal for any homebuyer or investor, this property presents strong long-term potential. Seller is highly motivated, making this an excellent opportunity you don&rsquo;t want to miss. 24 hr notice required. Schedule your private showing today. Contact: Brian Ingle @ 765-960-0533

ⓘ 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: $820 · $68/mo
• Projected year-2 tax: $820 · $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 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 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $14,165
• − Mortgage interest: −$5,036
• − Property taxes: −$820
• − Insurance: −$450
• − Repairs & maintenance: −$1,133
• − Management: −$1,133
• − Depreciation: −$2,615
• Taxable income: $2,978
• Est. tax owed @ 24.0%: −$715
• After-tax cash flow: $3,549/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: Richmond Community Schools
• NCES district ID: 1809510
• Math proficiency: 18% ▼ -7.00%
• Reading proficiency: 27% ▼ -2.00%
• Median HH income: $35,288
• Composite: 18.55/100
• National rank: #8913
• State rank: #270 of 301 in IN

Livability — Richmond

• Score: 83/100
• State rank: #10
• US rank: #869

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Richmond, IN
• County: Wayne County · 44,615 people
• City population: 44,615
• Metro: Richmond, IN
• Population (ZIP): 44,615
• Household income: $50,766
• Rent vs Own: 36.0% rent · 64.0% own
• Severe rent burden: 1600.0

Population outlook (Wayne County) Hauer SSP2

• Today (2025): 63,316 people
• By 2030: 60,893 · -3.8%
• By 2040: 55,386 · -12.5%
• By 2050: 49,946 · -21.1%
• By 2075: 37,900 · -40.1%
• By 2100: 26,562 · -58.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (82%)
• Race & ethnicity: White 82% Two or more races 7% Black 6% Hispanic / Latino 4% Asian 1%
• Common ancestry: Slovak 2% Italian 1% Lithuanian 1%
• Foreign-born: 4% · Canada, China
• Languages at home: 95% English-only · Spanish 3%

Political lean MEDSL · Wayne

• 2024 margin: Solid R (+32.5) · D 32.9% · R 65.4% · Other 1.6%
• 2008→2024 swing: -28.6pp toward R · 2008: -3.9pp · 2024: -32.5pp
• All cycles: 2024: R+32.5 2020: R+29.1 2016: R+30.1 2012: R+14.7 2008: R+3.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -118.64%
• Current HPI: 182.5038
• Rent YoY: —
• Metro: Richmond, IN
• 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

-13.6% since first listed

3 events — show timeline

• 2026-05-04 Listed $89,900 MIBOR as Distributed by MLS Grid
• 2026-04-15 Price Changed $89,900 RRELMS
• 2026-01-23 Listed $104,000 RRELMS

Property tax history

-2.6%/yr

Latest (2024): $820 · +13.6% YoY. Source: county tax records.