219 W Washington St · Oakland City, IN 47660

$138,900

4 bd · 2.0 ba · 2,192 sqft · SingleFamily public records · 108 Days on market

Built 1926 2,614 sqft lot $63/sqft · 25% below area Est $185k · 25% under

---

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 +18.8/30.0
• ARV discount +15.0/15.0
• Appreciation +10.0/10.0
• DSCR +5.9/10.0
• 1% rule +4.4/10.0
• Schools +3.2/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Spacious two-story home offering 3 bedrooms and 2 full baths with plenty of room to spread out. Features include a low-maintenance yard, hard flooring installed summer 2025, brand new carpet upper floor in spring 2026 and major mechanical updates with a new furnace in 2020 and water heater in 2021. Two additional flexible rooms provide possibilities for extra bedrooms, home office or recreation area. 1 car attached garage with extra space for storage and laundry on main level. The seller is including a refrigerator and electric range that will be installed soon. One year home warranty to be included for the new buyer.

Key facts

• New furnace
• Flexible rooms
• Low maintenance yard

Tags

• LOW MAINTENANCE YARD
• HARD FLOORING
• MAJOR MECHANICAL UPDATES
• NEW FURNACE
• NEW WATER HEATER
• FLEXIBLE ROOMS

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $139k.

Deal economics

• At list price, monthly cash flow is $141 ($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 $130k (6.1% below list).
• Recommended offer: $126k (9.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 65/100 on livability (#349 in IN) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: health & safety C-, schools D-, amenities F.
• East Gibson School Corporation (town): math 40% / reading 35% proficiency, ranked #171 of 301 in IN (top 57%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 24 active listings in the ZIP; 167 units permitted in Gibson County in 2024 (68 in 5+ unit buildings).

Forward outlook

• In year one you build about $15k of equity ($960 loan paydown + $14k appreciation (10.0% local appreciation)).
• Gibson County population projected to shrink 10% 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 108 days — a 9% lower offer ($126k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 11y ago; this cycle's ask has dropped $14k (9%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $98k; 42% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1926 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $126,399 (9.0% below list)

Questions for the listing agent

1. It's been on market 108 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1926 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
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: 0.94% ✗
• Cap rate: 7.51%
• Cash-on-cash: 4.35%
• DSCR: 1.19
• GRM: 8.9

CMA / ARV

• ARV (median comp): $184,524
• List price: $138,900
• Delta: -24.73%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
126 N Jackson St	0.21mi	4/2.0	2,048 (-7%)	11mo	$200,000	$98	70
227 W Vine St	0.20mi	4/2.0	2,444 (+12%)	6mo	$176,000	$72	67
225 S Jackson St	0.28mi	3/2.5 (-1)	2,333 (+6%)	15mo	$290,000	$124	57
215 S Main St	0.18mi	3/1.0 (-1)	1,893 (-14%)	12mo	$102,000	$54	50
815 N Highland Ave	0.36mi	3/1.5 (-1)	2,060 (-6%)	23mo	$184,000	$89	47
518 W Columbia St	0.22mi	3/2.0 (-1)	1,920 (-12%)	22mo	$172,000	$90	46

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: 27.4%
• Equity multiple: 3.18×
• Total profit: $84,598
• Equity at exit: $125,132

10-year hold

• IRR: 23.9%
• Equity multiple: 7.22×
• Total profit: $242,024
• Equity at exit: $269,852

Cash invested: $38,892 (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 47660

• Home prices YoY: 7.7%
• Active inventory: 24
• Price-to-rent: 8.9×

Monthly cashflow live

• Estimated rent: $1,304 medium
• Mortgage (P&I): −$728
• Tax from tax record: −$103 /mo · $1,236/yr
• Insurance: −$58
• HOA: −$0
• Vacancy / Maint / Mgmt: −$274
• Net cashflow: $141

Break-even live

Break-even rent $1,126

Max offer price $138,900

Occupancy floor 84%

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: $34,725
• Closing costs: $4,167
• Reserves months: —
• Total cash needed: —

Listing history 27 events

1. 2026-06-18
   days on market $138,900 Active 108 DOM
2. 2026-06-17
   days on market $138,900 Active 107 DOM
3. 2026-06-16
   days on market $138,900 Active 106 DOM
4. 2026-06-15
   days on market $138,900 Active 105 DOM
5. 2026-06-13
   days on market $138,900 Active 103 DOM
6. 2026-06-12
   days on market $138,900 Active 102 DOM
7. 2026-06-09
   days on market $138,900 Active 99 DOM
8. 2026-06-08
   days on market $138,900 Active 98 DOM
9. 2026-06-07
   pricedays on market $138,900 Active 97 DOM
10. 2026-06-07
    days on market $142,000 Active 96 DOM
11. 2026-06-04
    days on market $142,000 Active 93 DOM
12. 2026-06-02
    days on market $142,000 Active 92 DOM
13. 2026-06-01
    days on market $142,000 Active 91 DOM
14. 2026-05-31
    days on market $142,000 Active 90 DOM
15. 2026-05-31
    days on market $142,000 Active 89 DOM
16. 2026-05-12
    price $142,000 625-char remark

    Show marketing remark (625 chars)

    Spacious two-story home offering 3 bedrooms and 2 full baths with plenty of room to spread out. Features include a low-maintenance yard, hard flooring installed summer 2025, brand new carpet upper floor in spring 2026 and major mechanical updates with a new furnace in 2020 and water heater in 2021. Two additional flexible rooms provide possibilities for extra bedrooms, home office or recreation area. 1 car attached garage with extra space for storage and laundry on main level. The seller is including a refrigerator and electric range that will be installed soon. One year home warranty to be included for the new buyer.

17. 2026-05-07
    status Active 625-char remark

    Show marketing remark (625 chars)

    Spacious two-story home offering 3 bedrooms and 2 full baths with plenty of room to spread out. Features include a low-maintenance yard, hard flooring installed summer 2025, brand new carpet upper floor in spring 2026 and major mechanical updates with a new furnace in 2020 and water heater in 2021. Two additional flexible rooms provide possibilities for extra bedrooms, home office or recreation area. 1 car attached garage with extra space for storage and laundry on main level. The seller is including a refrigerator and electric range that will be installed soon. One year home warranty to be included for the new buyer.

18. 2026-05-07
    historical 625-char remark

    Show marketing remark (625 chars)

    Spacious two-story home offering 3 bedrooms and 2 full baths with plenty of room to spread out. Features include a low-maintenance yard, hard flooring installed summer 2025, brand new carpet upper floor in spring 2026 and major mechanical updates with a new furnace in 2020 and water heater in 2021. Two additional flexible rooms provide possibilities for extra bedrooms, home office or recreation area. 1 car attached garage with extra space for storage and laundry on main level. The seller is including a refrigerator and electric range that will be installed soon. One year home warranty to be included for the new buyer.

19. 2026-04-13
    price $147,800 625-char remark

    Show marketing remark (625 chars)

    Spacious two-story home offering 3 bedrooms and 2 full baths with plenty of room to spread out. Features include a low-maintenance yard, hard flooring installed summer 2025, brand new carpet upper floor in spring 2026 and major mechanical updates with a new furnace in 2020 and water heater in 2021. Two additional flexible rooms provide possibilities for extra bedrooms, home office or recreation area. 1 car attached garage with extra space for storage and laundry on main level. The seller is including a refrigerator and electric range that will be installed soon. One year home warranty to be included for the new buyer.

20. 2026-04-06
    status Active 625-char remark

    Show marketing remark (625 chars)

    Spacious two-story home offering 3 bedrooms and 2 full baths with plenty of room to spread out. Features include a low-maintenance yard, hard flooring installed summer 2025, brand new carpet upper floor in spring 2026 and major mechanical updates with a new furnace in 2020 and water heater in 2021. Two additional flexible rooms provide possibilities for extra bedrooms, home office or recreation area. 1 car attached garage with extra space for storage and laundry on main level. The seller is including a refrigerator and electric range that will be installed soon. One year home warranty to be included for the new buyer.

21. 2026-02-06
    listed $152,800 Active 625-char remark

    Show marketing remark (625 chars)

    Spacious two-story home offering 3 bedrooms and 2 full baths with plenty of room to spread out. Features include a low-maintenance yard, hard flooring installed summer 2025, brand new carpet upper floor in spring 2026 and major mechanical updates with a new furnace in 2020 and water heater in 2021. Two additional flexible rooms provide possibilities for extra bedrooms, home office or recreation area. 1 car attached garage with extra space for storage and laundry on main level. The seller is including a refrigerator and electric range that will be installed soon. One year home warranty to be included for the new buyer.

22. 2022-01-21
    soldstatus $97,500 884-char remark

    Show marketing remark (884 chars)

    Tons of space for the price and in the heart of Oakland City. Low maintenance lawn and cute patio off the back of home. Open floor plan exterior updates in last several years include: siding, gutters, roof, plumbing, exterior lights and front door. Home features main level laundry with full bath on main level, attached 1 car garage and appliances in kitchen are included in sale. Upstairs has potential for 3 bedrooms master includes 3 closets plus dormer storage and master bath with small tub. In addition to all the living space there are 2 additional rooms on main level that could be used for office space or as another bedroom. Tilt out windows, sump pump new in 2020, updated A/C 2016, 90% furnace new in 2020, freshly painted kitchen walls and seller is offering 1 year home warranty 2-10 Warranty with supreme coverage ($604). Estimate for plumbing will be paid at closing.

23. 2022-01-21
    soldstatus $97,500

    Show marketing remark (884 chars)

    Tons of space for the price and in the heart of Oakland City. Low maintenance lawn and cute patio off the back of home. Open floor plan exterior updates in last several years include: siding, gutters, roof, plumbing, exterior lights and front door. Home features main level laundry with full bath on main level, attached 1 car garage and appliances in kitchen are included in sale. Upstairs has potential for 3 bedrooms master includes 3 closets plus dormer storage and master bath with small tub. In addition to all the living space there are 2 additional rooms on main level that could be used for office space or as another bedroom. Tilt out windows, sump pump new in 2020, updated A/C 2016, 90% furnace new in 2020, freshly painted kitchen walls and seller is offering 1 year home warranty 2-10 Warranty with supreme coverage ($604). Estimate for plumbing will be paid at closing.

24. 2021-09-16
    listed $97,500 884-char remark

    Show marketing remark (884 chars)

    Tons of space for the price and in the heart of Oakland City. Low maintenance lawn and cute patio off the back of home. Open floor plan exterior updates in last several years include: siding, gutters, roof, plumbing, exterior lights and front door. Home features main level laundry with full bath on main level, attached 1 car garage and appliances in kitchen are included in sale. Upstairs has potential for 3 bedrooms master includes 3 closets plus dormer storage and master bath with small tub. In addition to all the living space there are 2 additional rooms on main level that could be used for office space or as another bedroom. Tilt out windows, sump pump new in 2020, updated A/C 2016, 90% furnace new in 2020, freshly painted kitchen walls and seller is offering 1 year home warranty 2-10 Warranty with supreme coverage ($604). Estimate for plumbing will be paid at closing.

25. 2016-05-04
    soldstatus $70,000
26. 2016-04-27
    soldstatus $70,000
27. 2015-04-30
    listed $74,900

ⓘ 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: $1,236 · $103/mo
• Projected year-2 tax: $1,236 · $103/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 3/10 Moderate
• 🌡 Heat 5/10 Major 7 d/yr ≥107°F today · 20 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 2% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 3 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,648
• − Mortgage interest: −$7,781
• − Property taxes: −$1,236
• − Insurance: −$694
• − Repairs & maintenance: −$1,252
• − Management: −$1,252
• − Depreciation: −$4,041
• Taxable loss: −$607
• Est. tax savings @ 24.0%: +$146
• After-tax cash flow: $1,836/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: East Gibson School Corporation
• NCES district ID: 1802940
• Math proficiency: 40% ▼ -5.00%
• Reading proficiency: 35% ▼ -6.00%
• Median HH income: $42,426
• Composite: 31.73/100
• National rank: #5908
• State rank: #171 of 301 in IN

Livability — Oakland City

• Score: 65/100
• State rank: #349
• US rank: #13364

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Oakland City, IN
• Population (ZIP): 4,819

Population outlook (Gibson County) Hauer SSP2

• Today (2025): 33,671 people
• By 2030: 33,409 · -0.8%
• By 2040: 32,364 · -3.9%
• By 2050: 30,453 · -9.6%
• By 2075: 24,610 · -26.9%
• By 2100: 16,217 · -51.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (92%)
• Race & ethnicity: White 92% Two or more races 4% Hispanic / Latino 2% Black 2%
• Common ancestry: Lithuanian 2% Serbian 2% Scottish 1%
• Foreign-born: 1% · Canada
• Languages at home: 99% English-only · Spanish 1%

Political lean MEDSL · Gibson

• 2024 margin: Solid R (+51.4) · D 23.4% · R 74.8% · Other 1.8%
• 2008→2024 swing: -38.2pp toward R · 2008: -13.2pp · 2024: -51.4pp
• All cycles: 2024: R+51.4 2020: R+48.2 2016: R+47.6 2012: R+31.0 2008: R+13.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 16.71%
• Current HPI: 234.1104
• 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

+89.6% since first listed

12 events — show timeline

• 2026-05-12 Price Changed $142,000 IRMLS
• 2026-05-07 Relisted — IRMLS
• 2026-05-07 Delisted — IRMLS
• 2026-04-13 Price Changed $147,800 IRMLS
• 2026-04-06 Relisted — IRMLS
• 2026-02-06 Listed $152,800 IRMLS
• 2022-01-21 Sold (Public Records) $97,500 Public Records
• 2022-01-21 Sold (MLS) $97,500 IRMLS
• 2021-09-16 Listed $97,500 IRMLS
• 2016-05-04 Sold (Public Records) $70,000 Public Records
• 2016-04-27 Sold (MLS) $70,000 IRMLS
• 2015-04-30 Listed $74,900 IRMLS

Property tax history

+23.2%/yr

Latest (2024): $1,236 · +7.9% YoY. Source: county tax records.