43 Rick Stansbury St · Alton, IN 40104

$55,000

1 bd · 1.0 ba · 1,394 sqft · Other · 76 Days on market

Built 1873 0.25 ac lot $39/sqft · 64% below area ↓ 20% 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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Appreciation +6.8/10.0
• Schools +3.8/10.0
• Livability +2.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Rare investment opportunity in the Wolf Creek area near the Ohio River. Situated just a short distance from the river, this property offers excellent potential for those looking to build or create a recreational retreat close to the water. The existing home, originally built in 1873 and measuring approximately 1,394 square feet, is not considered habitable and will likely require demolition, making this an ideal project for investors or buyers seeking a fresh start on a well-located lot. Also included on the property is a well-maintained 24' x 30' detached metal barn featuring a 10-foot clearance garage door, perfect for storing boats, equipment, or recreational vehicles. With views of the Ohio River, this property is especially appealing for boating and outdoor enthusiasts looking for a base near the water.

Key facts

• Detached metal barn
• Near the ohio river
• Wolf creek area

Tags

• WOLF CREEK AREA
• NEAR THE OHIO RIVER
• DETACHED METAL BARN
• 10-FOOT CLEARANCE GARAGE DOOR
• VIEWS OF THE OHIO RIVER

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath other listed at $55k.

Deal economics

• At list price, monthly cash flow is $-3 ($-35/yr) — negative.
• To cash-flow at today's rent, offer at most $54k (0.9% below list).
• Meets the 1% rule at list price ($982 rent vs $55k).
• Recommended offer: $52k (6.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 55/100 on livability (#629 in IN) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+, crime A; Watch: health & safety C-, schools F, amenities F.
• Meade County (rural): math 41% / reading 48% proficiency, ranked #21 of 165 in KY (top 13%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 124 units permitted in Meade County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $2k of equity ($380 loan paydown + $2k appreciation (3.7% local appreciation)).
• Meade County population projected at -20% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (3.7% appreciation + 3.0% rent growth), your $15k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 76 days — a 6% lower offer ($52k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 14y ago; this cycle's ask has dropped $15k (21%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $15k; list at $55k implies a 267% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $427/mo; built in 1873 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance); extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $51,700 (6.0% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 76 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
3. Built in 1873 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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.
9. 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.
10. 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: 1.78% ✓
• Cap rate: 15.54%
• Cash-on-cash: 33.01%
• DSCR: 2.47
• GRM: 4.7

CMA / ARV

• ARV (median comp): $154,194
• List price: $55,000
• Delta: -64.33%
• Verdict: UNDERPRICED
• Comps: 1 within 2.0 mi

Projected returns pro-forma

3.68% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 9.5%
• Equity multiple: 1.57×
• Total profit: $8,714
• Equity at exit: $26,871

10-year hold

• IRR: 11.8%
• Equity multiple: 2.90×
• Total profit: $29,223
• Equity at exit: $43,160

Cash invested: $15,400 (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 40104

• Home prices YoY: 2.5%
• Price-to-rent: 4.7×

Monthly cashflow live

• Estimated rent: $982 medium
• Mortgage (P&I): −$288
• Tax from tax record: −$40 /mo · $486/yr
• Insurance: −$23
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$206
• Net cashflow: $-3

Break-even live

Break-even rent $985

Max offer price $54,491

Occupancy floor 95%

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: $13,750
• Closing costs: $1,650
• Reserves months: —
• Total cash needed: —

Listing history 12 events

1. 2026-05-14
   price $55,000 819-char remark

   Show marketing remark (819 chars)

   Rare investment opportunity in the Wolf Creek area near the Ohio River. Situated just a short distance from the river, this property offers excellent potential for those looking to build or create a recreational retreat close to the water. The existing home, originally built in 1873 and measuring approximately 1,394 square feet, is not considered habitable and will likely require demolition, making this an ideal project for investors or buyers seeking a fresh start on a well-located lot. Also included on the property is a well-maintained 24' x 30' detached metal barn featuring a 10-foot clearance garage door, perfect for storing boats, equipment, or recreational vehicles. With views of the Ohio River, this property is especially appealing for boating and outdoor enthusiasts looking for a base near the water.

2. 2026-05-06
   price $60,000 819-char remark

   Show marketing remark (819 chars)

   Rare investment opportunity in the Wolf Creek area near the Ohio River. Situated just a short distance from the river, this property offers excellent potential for those looking to build or create a recreational retreat close to the water. The existing home, originally built in 1873 and measuring approximately 1,394 square feet, is not considered habitable and will likely require demolition, making this an ideal project for investors or buyers seeking a fresh start on a well-located lot. Also included on the property is a well-maintained 24' x 30' detached metal barn featuring a 10-foot clearance garage door, perfect for storing boats, equipment, or recreational vehicles. With views of the Ohio River, this property is especially appealing for boating and outdoor enthusiasts looking for a base near the water.

3. 2026-04-14
   price $65,000 819-char remark

   Show marketing remark (819 chars)

   Rare investment opportunity in the Wolf Creek area near the Ohio River. Situated just a short distance from the river, this property offers excellent potential for those looking to build or create a recreational retreat close to the water. The existing home, originally built in 1873 and measuring approximately 1,394 square feet, is not considered habitable and will likely require demolition, making this an ideal project for investors or buyers seeking a fresh start on a well-located lot. Also included on the property is a well-maintained 24' x 30' detached metal barn featuring a 10-foot clearance garage door, perfect for storing boats, equipment, or recreational vehicles. With views of the Ohio River, this property is especially appealing for boating and outdoor enthusiasts looking for a base near the water.

4. 2026-02-28
   listed $70,000 Active 819-char remark

   Show marketing remark (819 chars)

   Rare investment opportunity in the Wolf Creek area near the Ohio River. Situated just a short distance from the river, this property offers excellent potential for those looking to build or create a recreational retreat close to the water. The existing home, originally built in 1873 and measuring approximately 1,394 square feet, is not considered habitable and will likely require demolition, making this an ideal project for investors or buyers seeking a fresh start on a well-located lot. Also included on the property is a well-maintained 24' x 30' detached metal barn featuring a 10-foot clearance garage door, perfect for storing boats, equipment, or recreational vehicles. With views of the Ohio River, this property is especially appealing for boating and outdoor enthusiasts looking for a base near the water.

5. 2014-05-19
   soldstatus $15,000 231-char remark

   Show marketing remark (231 chars)

   Ranch home with 1 bedroom and 1 bath oversize garage Ohio River view also features a kitchen, living room, family room, mud room and other rooms This is a Fannie Mae property. This property approved for HomePath Renovation Mortgage

6. 2014-01-31
   listed $17,900 231-char remark

   Show marketing remark (231 chars)

   Ranch home with 1 bedroom and 1 bath oversize garage Ohio River view also features a kitchen, living room, family room, mud room and other rooms This is a Fannie Mae property. This property approved for HomePath Renovation Mortgage

7. 2014-01-28
   historical
8. 2013-12-04
   listed $29,900
9. 2013-11-30
   historical
10. 2013-05-24
    listed $29,900
11. 2012-07-18
    historical
12. 2012-01-18
    listed $68,500

ⓘ 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: $486 · $40/mo
• Projected year-2 tax: $486 · $40/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 AE · 0% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 5/10 Major 7 d/yr ≥105°F today · 19 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 2% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $11,780
• − Mortgage interest: −$3,081
• − Property taxes: −$486
• − Insurance: −$5,394
• − Repairs & maintenance: −$942
• − Management: −$942
• − Depreciation: −$1,600
• Taxable loss: −$665
• Est. tax savings @ 24.0%: +$160
• After-tax cash flow: $125/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: Meade County
• NCES district ID: 2104050
• Math proficiency: 41% ▼ -15.00%
• Reading proficiency: 48% ▼ -12.00%
• Median HH income: $49,628
• Composite: 38.17/100
• National rank: #4265
• State rank: #21 of 165 in KY

Livability — Alton

• Score: 55/100
• State rank: #629
• US rank: #23388

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

• Population (ZIP): 1,263

Population outlook (Meade County) Hauer SSP2

• Today (2025): 26,977 people
• By 2030: 26,162 · -3.0%
• By 2040: 24,029 · -10.9%
• By 2050: 21,658 · -19.7%
• By 2075: 16,994 · -37.0%
• By 2100: 15,586 · -42.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (97%)
• Race & ethnicity: White 97% Two or more races 3% Hispanic / Latino 2%
• Common ancestry: Iranian 2% Serbian 1% Italian 1%
• Foreign-born: 1%
• Languages at home: 98% English-only · German/W. Germanic 2%

Political lean MEDSL · Meade

• 2024 margin: Solid R (+52.1) · D 23.2% · R 75.3% · Other 1.5%
• 2008→2024 swing: -31.1pp toward R · 2008: -20.9pp · 2024: -52.1pp
• All cycles: 2024: R+52.1 2020: R+46.4 2016: R+46.1 2012: R+22.8 2008: R+20.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 3.68%
• Current HPI: 151.977
• 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

-19.7% since first listed

12 events — show timeline

• 2026-05-14 Price Changed $55,000 HKARMLS
• 2026-05-06 Price Changed $60,000 HKARMLS
• 2026-04-14 Price Changed $65,000 HKARMLS
• 2026-02-28 Listed $70,000 HKARMLS
• 2014-05-19 Sold (MLS) $15,000 HKARMLS
• 2014-01-31 Listed $17,900 HKARMLS
• 2014-01-28 Listing Removed — Metro Search MLS
• 2013-12-04 Listed $29,900 Metro Search MLS
• 2013-11-30 Listing Removed — Metro Search MLS
• 2013-05-24 Listed $29,900 Metro Search MLS
• 2012-07-18 Listing Removed — Metro Search MLS
• 2012-01-18 Listed $68,500 Metro Search MLS

Property tax history

+0.1%/yr

Latest (2025): $486 · -1.1% YoY. Source: county tax records.