324 N Jameson St · Lebanon, IN 46052

$224,900

5 bd · 1.0 ba · 1,914 sqft · SingleFamily public records · 5 Days on market

Built 1900 6,534 sqft lot $118/sqft · at area comps Est $233k · at est.

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Why this score? — see what drove the C- 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 +18.9/30.0
• ARV discount +9.0/15.0
• DSCR +6.0/10.0
• 1% rule +4.3/10.0
• Schools +3.7/10.0
• Livability +3.3/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Convenient location to downtown. 4 Bedroom , 2 FULL BATHS, Totally remodeled Master on Main, Recent updates have been made to this home, Living Room, Dining Room, new carpet, laminate hardwoods. New Bathroom, Remodeled Kitchen, cabinets - Upstairs has been finished to include 3 Bedroom, new furnace, air conditioner, roof. Mini barn for additional storage and parking space behind home. Fenced front yard, part of back. Electric has been updated, Plenty of room for kids or guests. Don't miss out on this incredible opportunity in Lebanon.

Key facts

• 6,534 sq ft lot
• Garage
• Built 1900

Property features AI

Exterior

• Parking: No garage and no designated parking features listed
• Security: Smoke detectors
• Utilities: Public water; Municipal sewer connected; 200+ amp electrical service; Electricity connected; Natural gas connected; Cable available; Separate electric meter; Renewable fuel source for heating or other systems; Solid waste service available
• Home design: Single-family residence; Two levels; East-facing
• Construction: Brick foundation; Vinyl siding
• Exterior features: Covered porch/patio; Mini barn on the property; Complete fenced yard (fence present)

Interior

• Kitchen: Dishwasher; Microwave; Electric oven; Refrigerator; Electric water heater
• Bedrooms: Four bedrooms total — two on the main level and two on the upper level
• Bathrooms: Two full bathrooms; Primary bath with tub and shower
• Heating & cooling: Forced air heating (natural gas); Central air conditioning
• Interior features: Attic access; Smoke alarm
• Laundry & utility: Main-level laundry room with full hookups/connections

What this means for you Summary

Snapshot

• This is a 5-bed/1.0-bath single-family listed at $225k.

Deal economics

• At list price, monthly cash flow is $166 ($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 $210k (6.8% below list).
• Recommended offer: $210k (6.8% below list) — sets the bar for 1% rule.
• Cap rate 7.5% vs local median 3.5% in Lebanon — 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 66/100 on livability (#296 in IN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: schools C-, amenities F, commute F.
• Lebanon Community School Corporation (town): math 41% / reading 44% proficiency, ranked #115 of 301 in IN (top 38%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 183 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); 898 units permitted in Boone County in 2024 (0 in 5+ unit buildings).
• This rent runs 37% of the median local income ($69k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.
• Boone County population projected at +46% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• Only 5 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 7y ago 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: flood insurance adds $66/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 $209,719 (6.8% below list)

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. 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: 0.93% ✗
• Cap rate: 7.53%
• Cash-on-cash: 4.43%
• DSCR: 1.20
• GRM: 8.9

CMA / ARV

• ARV (median comp): $232,763
• List price: $224,900
• Delta: -3.38%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 9 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
324 N Jameson St	0.00mi	4/2.0 (-1)	1,914 (0%)	0mo	$216,500	$113	91
121 W Fordice St	0.32mi	4/1.0 (-1)	1,830 (-4%)	13mo	$160,000	$87	62
804 N Jameson St	0.26mi	4/1.0 (-1)	2,168 (+13%)	13mo	$260,000	$120	50
604 S East St	0.58mi	4/2.0 (-1)	1,934 (+1%)	18mo	$220,000	$114	47
518 N Grant St	0.66mi	4/1.5 (-1)	1,768 (-8%)	12mo	$206,000	$117	40
109 N Grant St	0.69mi	4/2.0 (-1)	2,120 (+11%)	17mo	$255,000	$120	27
809 S East St	0.69mi	4/2.5 (-1)	1,750 (-9%)	20mo	$240,000	$137	26
1507 Park Dr	0.75mi	4/2.5 (-1)	2,154 (+12%)	14mo	$290,000	$135	22
630 N Grant St	0.68mi	4/2.0 (-1)	2,200 (+15%)	17mo	$265,000	$120	20

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: -11.3%
• Equity multiple: 0.59×
• Total profit: $-25,876
• Equity at exit: $33,533

10-year hold

• IRR: -2.1%
• Equity multiple: 0.86×
• Total profit: $-8,946
• Equity at exit: $19,445

Cash invested: $62,972 (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 46052

• Active inventory: 183
• Price-to-rent: 8.9×

Monthly cashflow live

• Estimated rent: $2,097 medium
• Mortgage (P&I): −$1,179
• Tax from tax record: −$151 /mo · $1,814/yr
• Insurance: −$94
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$440
• Net cashflow: $166

Break-even live

Break-even rent $1,887

Max offer price $224,900

Occupancy floor 87%

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: $56,225
• Closing costs: $6,747
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
814 Powell St Lebanon, IN	4.0	1.5	1647	$1,650	$1.00	21d	1	0.16mi
718 N Lebanon St Lebanon, IN	4.0	1.5	1560	$1,795	$1.15	23d	1	0.27mi
830 Campbell St Lebanon, IN	2.0–4.0	2.0	1728	$1,849	$1.07	1d	1	0.75mi

Listing history 8 events

1. 2026-05-12
   status Pending 495-char remark
2. 2026-05-07
   listed $224,900 Active 495-char remark
3. 2019-11-26
   soldstatus $155,000 Sold 543-char remark

   Show marketing remark (543 chars)

   Convenient location to downtown. 4 Bedroom , 2 FULL BATHS, Totally remodeled Master on Main, Recent updates have been made to this home, Living Room, Dining Room, new carpet, laminate hardwoods. New Bathroom, Remodeled Kitchen, cabinets - Upstairs has been finished to include 3 Bedroom, new furnace, air conditioner, roof. Mini barn for additional storage and parking space behind home. Fenced front yard, part of back. Electric has been updated, Plenty of room for kids or guests. Don't miss out on this incredible opportunity in Lebanon.

4. 2019-11-03
   status Pending 543-char remark

   Show marketing remark (543 chars)

   Convenient location to downtown. 4 Bedroom , 2 FULL BATHS, Totally remodeled Master on Main, Recent updates have been made to this home, Living Room, Dining Room, new carpet, laminate hardwoods. New Bathroom, Remodeled Kitchen, cabinets - Upstairs has been finished to include 3 Bedroom, new furnace, air conditioner, roof. Mini barn for additional storage and parking space behind home. Fenced front yard, part of back. Electric has been updated, Plenty of room for kids or guests. Don't miss out on this incredible opportunity in Lebanon.

5. 2019-09-11
   price $164,900 543-char remark

   Show marketing remark (543 chars)

   Convenient location to downtown. 4 Bedroom , 2 FULL BATHS, Totally remodeled Master on Main, Recent updates have been made to this home, Living Room, Dining Room, new carpet, laminate hardwoods. New Bathroom, Remodeled Kitchen, cabinets - Upstairs has been finished to include 3 Bedroom, new furnace, air conditioner, roof. Mini barn for additional storage and parking space behind home. Fenced front yard, part of back. Electric has been updated, Plenty of room for kids or guests. Don't miss out on this incredible opportunity in Lebanon.

6. 2019-08-27
   status Active 543-char remark

   Show marketing remark (543 chars)

   Convenient location to downtown. 4 Bedroom , 2 FULL BATHS, Totally remodeled Master on Main, Recent updates have been made to this home, Living Room, Dining Room, new carpet, laminate hardwoods. New Bathroom, Remodeled Kitchen, cabinets - Upstairs has been finished to include 3 Bedroom, new furnace, air conditioner, roof. Mini barn for additional storage and parking space behind home. Fenced front yard, part of back. Electric has been updated, Plenty of room for kids or guests. Don't miss out on this incredible opportunity in Lebanon.

7. 2019-07-26
   status Pending 543-char remark

   Show marketing remark (543 chars)

   Convenient location to downtown. 4 Bedroom , 2 FULL BATHS, Totally remodeled Master on Main, Recent updates have been made to this home, Living Room, Dining Room, new carpet, laminate hardwoods. New Bathroom, Remodeled Kitchen, cabinets - Upstairs has been finished to include 3 Bedroom, new furnace, air conditioner, roof. Mini barn for additional storage and parking space behind home. Fenced front yard, part of back. Electric has been updated, Plenty of room for kids or guests. Don't miss out on this incredible opportunity in Lebanon.

8. 2019-06-20
   listed $169,900 Active 543-char remark

   Show marketing remark (543 chars)

   Convenient location to downtown. 4 Bedroom , 2 FULL BATHS, Totally remodeled Master on Main, Recent updates have been made to this home, Living Room, Dining Room, new carpet, laminate hardwoods. New Bathroom, Remodeled Kitchen, cabinets - Upstairs has been finished to include 3 Bedroom, new furnace, air conditioner, roof. Mini barn for additional storage and parking space behind home. Fenced front yard, part of back. Electric has been updated, Plenty of room for kids or guests. Don't miss out on this incredible opportunity in Lebanon.

ⓘ 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: $1,814 · $151/mo
• Projected year-2 tax: $1,863 · $155/mo
• Expected delta: +$49/yr (+$4/mo · 2.7%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 8/10 Severe FEMA zone X (shaded) · 99% 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
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $25,166
• − Mortgage interest: −$12,598
• − Property taxes: −$1,814
• − Insurance: −$1,922
• − Repairs & maintenance: −$2,013
• − Management: −$2,013
• − Depreciation: −$6,543
• Taxable loss: −$1,737
• Est. tax savings @ 24.0%: +$417
• After-tax cash flow: $2,409/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: Lebanon Community School Corporation
• NCES district ID: 1805790
• Math proficiency: 41% ▼ -11.00%
• Reading proficiency: 44% ▼ -5.00%
• Median HH income: $52,178
• Composite: 36.77/100
• National rank: #4571
• State rank: #115 of 301 in IN

Livability — Lebanon

• Score: 66/100
• State rank: #296
• US rank: #11943

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Lebanon, IN
• County: Boone County · 69,822 people
• City population: 23,553
• Metro: Indianapolis-Carmel-Anderson, IN
• Population (ZIP): 23,553
• Household income: $68,930
• Rent vs Own: 25.2% rent · 74.8% own
• Severe rent burden: 235.0

Population outlook (Boone County) Hauer SSP2

• Today (2025): 77,877 people
• By 2030: 85,185 · +9.4%
• By 2040: 99,753 · +28.1%
• By 2050: 113,572 · +45.8%
• By 2075: 145,674 · +87.1%
• By 2100: 161,165 · +106.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (91%)
• Race & ethnicity: White 91% Two or more races 6% Hispanic / Latino 6% Black 1%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Serbian 4% Slovak 2% Italian 2%
• Foreign-born: 3% · Canada, Jamaica
• Languages at home: 95% English-only · Spanish 4%

Political lean MEDSL · Boone

• 2024 margin: R (+16.0) · D 41.0% · R 57.0% · Other 2.0%
• 2008→2024 swing: +9.8pp toward D · 2008: -25.8pp · 2024: -16.0pp
• All cycles: 2024: R+16.0 2020: R+18.4 2016: R+29.5 2012: R+37.8 2008: R+25.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -188.54%
• Current HPI: 229.2844
• Rent YoY: —
• Metro: Indianapolis-Carmel-Anderson, 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

+27.4% since first listed

9 events — show timeline

• 2026-06-05 Sold (MLS) $216,500 MIBOR as Distributed by MLS Grid
• 2026-05-12 Pending — MIBOR as Distributed by MLS Grid
• 2026-05-07 Listed $224,900 MIBOR as Distributed by MLS Grid
• 2019-11-26 Sold (MLS) $155,000 MIBOR as Distributed by MLS Grid
• 2019-11-03 Pending — MIBOR as Distributed by MLS Grid
• 2019-09-11 Price Changed $164,900 MIBOR as Distributed by MLS Grid
• 2019-08-27 Relisted — MIBOR as Distributed by MLS Grid
• 2019-07-26 Pending — MIBOR as Distributed by MLS Grid
• 2019-06-20 Listed $169,900 MIBOR as Distributed by MLS Grid

Property tax history

+12.9%/yr

Latest (2025): $1,814 · -12.7% YoY. Source: county tax records.