515 Jackson St

Hope, IN 47246

$65,000B-

2 bd · 1.0 ba · 1,088 sqft · Built 1985 · SingleFamily · Pending · 1 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,064/mo
• Mortgage (P&I): −$341
• Tax + insurance: −$153
• HOA: −$0
• Vac / Maint / Mgmt: −$224
• Net cashflow: $347/mo
• Annual: $4,168/yr
• Cap rate: 12.71%
• Cash-on-cash: 22.90%
• DSCR: 2.02
• 1% rule: 1.64%
• Cash to close: $18,200

Investor read

• This is a 2-bed/1.0-bath single-family listed at $65k.
• At list price, monthly cash flow is $347 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $65k).
• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• Local home prices are declining (-3.0%/yr); year-one equity from $449 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Location reads 66/100 on livability (#284 in IN) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: employment D+, amenities F, commute F.
• Flat Rock-Hawcreek School Corporation (rural): math 39% / reading 38% proficiency, ranked #151 of 301 in IN (top 50%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Hope Elementary School (math 52% / reading 37%, grade F, #379 of 994 statewide, top 41%, 528 students, 55% FRL); Hauser Jr-Sr High School (math 26% / reading 40%, grade F, #290 of 369 statewide, top 79%, 444 students, 46% FRL) — zoned schools average 50% FRL vs 35% district-wide (16 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 22 active listings in the ZIP; 195 units permitted in Bartholomew County in 2024 (0 in 5+ unit buildings).
• Bartholomew County population projected at +22% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $18k cash investment doubles in ~6 years — after that, you're playing with house money.

Questions for listing agent

• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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.
• 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.
• 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.