514 W Market St · Logansport, IN 46947

$89,900

3 bd · 1.0 ba · 2,004 sqft · SingleFamily public records · 3 Days on market

Built 1900 4,356 sqft lot Est $146k · 39% 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 +30.0/30.0
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +3.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.4/10.0
• Appreciation +0.0/10.0

Listing remarks

This home has some beautiful old wood work. Covered front porch. Close to school and restaurants. Large rooms. As-is sales only. One room Downstairs is being used as a 4th bedroom.

Key facts

• Covered front porch
• Close to school
• Close to restaurants

Tags

• COVERED FRONT PORCH
• CLOSE TO SCHOOL
• CLOSE TO RESTAURANTS
• LARGE ROOMS

Property features AI

Finance

• Other: Directions: West on Broadway, cross the bridge onto Market; home is on the north side
• Financial info: Annual taxes noted (amount withheld from detailed display)
• HOA & community: No HOA information provided

Exterior

• Parking: Parking information not provided
• Security: Security information not provided
• Utilities: Public water; Public sewer
• Home design: Single-family residence (site-built); 2 stories
• Construction: Wood siding; Above-grade finished area approximately 2,004; Basement present (partial, unfinished)
• Exterior features: Lot dimensions approximately 45 x 165; Lot size about 0.1 acre

Interior

• Kitchen: No appliances listed
• Bedrooms: Bedrooms information not provided
• Flooring: Flooring information not provided
• Bathrooms: 2 full bathrooms; 1 bathroom on the main level
• Heating & cooling: Central air conditioning; Forced air heating
• Interior features: Partial, unfinished basement; Total of 8 rooms
• Laundry & utility: Laundry located on the main level

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 $384 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $90k).
• Cap rate 12.2% vs local median 4.4% in Logansport — 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 78/100 on livability (#34 in IN, #2,683 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, amenities A+, cost of living A+; Watch: commute F, employment D-.
• Logansport Community School Corporation (town): math 26% / reading 32% proficiency, ranked #252 of 301 in IN (top 84%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Franklin Elementary School (math 27% / reading 17%, grade F, #790 of 994 statewide, top 81%, 335 students, 72% FRL); Logansport Junior High School (math 17% / reading 30%, grade F, #257 of 330 statewide, top 79%, 607 students, 67% FRL); Logansport Community High School (math 24% / reading 46%, grade F, #266 of 369 statewide, top 73%, 1,224 students, 62% FRL) — zoned schools average 67% FRL vs 50% district-wide (16 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 129 active listings in the ZIP; 22 units permitted in Cass 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.
• Cass County population projected at -16% 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 ~7 years — after that, you're playing with house money.

Negotiation context

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: flood insurance adds $56/mo; built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $89,900

Questions for the listing agent

1. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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. 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.
6. 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.
7. 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: 1.50% ✓
• Cap rate: 12.15%
• Cash-on-cash: 20.93%
• DSCR: 1.93
• GRM: 5.6

CMA / ARV

• ARV (on-the-fly): $146,292
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
363 W Broadway St	0.13mi	4/1.5 (+1)	2,028 (+1%)	8mo	$149,900	$74	78
325 Wheatland Ave	0.21mi	3/1.0	1,876 (-6%)	6mo	$55,000	$29	74
514 W Linden Ave	0.22mi	3/2.0	1,872 (-7%)	5mo	$110,000	$59	71
506 Howard St	0.46mi	4/2.0 (+1)	1,990 (-1%)	4mo	$235,000	$118	65
424 W Broadway St	0.09mi	4/1.5 (+1)	2,288 (+14%)	7mo	$115,000	$50	59
315 Grove St	0.49mi	4/1.0 (+1)	2,112 (+5%)	7mo	$149,000	$71	57
201 Tacoma Ave	0.46mi	4/2.5 (+1)	2,112 (+5%)	2mo	$134,300	$64	57
316-318 Grove St	0.51mi	3/1.5	1,800 (-10%)	1mo	$45,000	$25	56
211 W Miami Ave	0.37mi	4/2.0 (+1)	1,780 (-11%)	0mo	$130,000	$73	55
31 Park Ave	0.46mi	4/1.5 (+1)	1,752 (-13%)	2mo	$199,900	$114	49
4096 N 425 E	0.60mi	3/2.0	1,820 (-9%)	8mo	$160,000	$88	46
305 Tanguy St	0.54mi	4/2.0 (+1)	1,752 (-13%)	3mo	$152,000	$87	42

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: 10.0%
• Equity multiple: 1.39×
• Total profit: $9,914
• Equity at exit: $13,404

10-year hold

• IRR: 19.1%
• Equity multiple: 2.60×
• Total profit: $40,313
• 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 46947

• Home prices YoY: -28.9%
• Active inventory: 129
• Price-to-rent: 5.6×

Monthly cashflow live

• Estimated rent: $1,346 medium
• Mortgage (P&I): −$471
• Tax from tax record: −$115 /mo · $1,380/yr
• Insurance: −$37
• Flood insurance flood zone: −$56 /mo · $666/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$283
• Net cashflow: $384

Break-even live

Break-even rent $860

Max offer price $89,900

Occupancy floor 66%

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: —

Listing history 4 events

1. 2026-06-18
   days on market $89,900 Active 3 DOM
2. 2026-06-17
   days on market $89,900 Active 2 DOM
3. 2026-06-16
   remarks 180-char remark
4. 2026-06-16
   listed $89,900 Active 1 DOM

ⓘ 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: $1,380 · $115/mo
• Projected year-2 tax: $1,380 · $115/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 9/10 Extreme FEMA zone X (shaded) · 99% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥102°F today · 17 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: $16,146
• − Mortgage interest: −$5,036
• − Property taxes: −$1,380
• − Insurance: −$1,116
• − Repairs & maintenance: −$1,292
• − Management: −$1,292
• − Depreciation: −$2,615
• Taxable income: $3,416
• Est. tax owed @ 24.0%: −$820
• After-tax cash flow: $3,782/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: Logansport Community School Corporation
• NCES district ID: 1806030
• Math proficiency: 26% ▼ -10.00%
• Reading proficiency: 32% ▼ -7.00%
• Median HH income: $37,767
• Composite: 24.19/100
• National rank: #7733
• State rank: #252 of 301 in IN

Livability — Logansport

• Score: 78/100
• State rank: #34
• US rank: #2683

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Logansport, IN
• City population: 28,830
• Population (ZIP): 28,830

Population outlook (Cass County) Hauer SSP2

• Today (2025): 36,480 people
• By 2030: 35,390 · -3.0%
• By 2040: 33,077 · -9.3%
• By 2050: 30,631 · -16.0%
• By 2075: 25,426 · -30.3%
• By 2100: 20,617 · -43.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (70%)
• Race & ethnicity: White 70% Hispanic / Latino 22% Two or more races 8% Asian 2% Black 1%
• Hispanic origin (detail): Mexican 13%
• Common ancestry: Italian 2% Iranian 1% Lithuanian 1%
• Foreign-born: 12% · Canada, China
• Languages at home: 80% English-only · Spanish 17% French/Haitian/Cajun 1% Other Asian/Pacific 1%

Political lean MEDSL · Cass

• 2024 margin: Solid R (+46.2) · D 26.2% · R 72.4% · Other 1.4%
• 2008→2024 swing: -37.7pp toward R · 2008: -8.5pp · 2024: -46.2pp
• All cycles: 2024: R+46.2 2020: R+41.1 2016: R+42.0 2012: R+21.7 2008: R+8.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -91.21%
• Current HPI: 223.8394
• 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

• 2026-06-15 Listed $89,900 IRMLS

Property tax history

-5.9%/yr

Latest (2024): $1,380 · +11.3% YoY. Source: county tax records.