914 Elm St · Shelbyville, IN 46176

$129,900

2 bd · 1.0 ba · 1,146 sqft · SingleFamily public records · 2 Days on market

Built 1900 4,920 sqft lot $113/sqft · 37% above area Est $166k · 22% under

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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 +17.6/30.0
• ARV discount +15.0/15.0
• DSCR +5.5/10.0
• 1% rule +3.9/10.0
• Schools +3.4/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Cute, affordable move-in ready 2 bed/1 bath home on quiet side street in Shelbyville. Home offers 2 spacious bedrooms, large living area, flex room that is currently used as an office, but could be a formal dining room, beautiful eat-in kitchen, and recently remodeled bathroom. The exterior of the home offers a huge covered porch and a nice fenced backyard. A lot of work and love has been put into this home to make it ready for its new owners. Recent updates include heating and cooling, light fixtures, paint, water heater, bathroom and kitchen. Home does have original wood floors under some of the carpeting. Large unfinished attic space could possibly offer additional living space. Kitchen appliances included.

Key facts

• Covered front porch
• Historical character
• Contemporary comfort

Tags

• HISTORICAL CHARACTER
• CONTEMPORARY COMFORT
• THOUGHTFULLY DESIGNED KITCHEN
• PRIVATE YARD
• COVERED FRONT PORCH

Property features AI

Finance

• Other: Property type listed as residential; Lot under 1/4 acre (approx. 0.11 acre)

Exterior

• Utilities: Public water; Municipal sewer connected
• Home design: Single-family residence; One level
• Construction: Vinyl siding; Block foundation
• Exterior features: Covered patio/porch

Interior

• Kitchen: Dishwasher; Microwave; Electric oven; Refrigerator; Gas water heater; Water softener (owned)
• Bedrooms: 2 bedrooms on the main level
• Bathrooms: 1 full bathroom on the main level
• Heating & cooling: Natural gas heating; Central air conditioning
• Interior features: Built-in features; Basement with exterior entry
• Laundry & utility: Basement utility access

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $130k.

Deal economics

• At list price, monthly cash flow is $103 ($1k/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 $115k (11.2% below list).
• Recommended offer: $115k (11.2% below list) — sets the bar for 1% rule.
• Cap rate 7.2% vs local median 4.3% in Shelbyville — 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 63/100 on livability (#450 in IN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime B; Watch: employment C-, schools D+, amenities F.
• Shelbyville Central Schools (town): math 40% / reading 39% proficiency, ranked #148 of 301 in IN (top 49%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 229 active listings in the ZIP; 10 comparable units currently listed for rent nearby; rentals leasing fast (median 11d on market — plan ~1-2 weeks tenant-placement turnaround); 285 units permitted in Shelby County in 2024 (147 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $898 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Shelby County population projected to shrink 6% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.

Negotiation context

• Only 2 days on market — expect competitive offers; lowballing is unlikely to land.
• 7 sale attempts since 23y 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: built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $115,391 (11.2% 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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
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: 0.89% ✗
• Cap rate: 7.24%
• Cash-on-cash: 3.39%
• DSCR: 1.15
• GRM: 9.4

CMA / ARV

• ARV (median comp): $165,872
• List price: $129,900
• Delta: -21.69%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
622 8th St	0.50mi	2/1.0	1,064 (-7%)	1mo	$187,189	$176	64
629 9th St	0.64mi	3/1.0 (+1)	1,140 (-0%)	5mo	$110,000	$96	61
632 7th St	0.41mi	3/1.0 (+1)	1,088 (-5%)	11mo	$185,000	$170	58
1525 Shelby St	0.48mi	3/2.0 (+1)	1,080 (-6%)	5mo	$160,000	$148	55
411 Montgomery St	0.65mi	2/1.0	1,096 (-4%)	10mo	$159,900	$146	54
410 Montgomery St	0.63mi	3/1.0 (+1)	1,116 (-3%)	9mo	$170,000	$152	54
858 Miller Ave	0.59mi	2/1.0	1,008 (-12%)	9mo	$52,500	$52	45
2014 Meridian St	0.70mi	3/1.0 (+1)	1,224 (+7%)	8mo	$159,000	$130	45
632 W South St	0.55mi	3/2.0 (+1)	1,043 (-9%)	10mo	$157,400	$151	42
515 Doran Ave	0.66mi	3/2.0 (+1)	1,032 (-10%)	4mo	$225,000	$218	40
407 Eberhart Dr	0.71mi	3/1.0 (+1)	984 (-14%)	1mo	$194,900	$198	38
510 Eberhart Dr	0.71mi	3/1.0 (+1)	1,008 (-12%)	11mo	$199,000	$197	33

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: -11.0%
• Equity multiple: 0.60×
• Total profit: $-14,541
• Equity at exit: $19,369

10-year hold

• IRR: -1.8%
• Equity multiple: 0.88×
• Total profit: $-4,384
• Equity at exit: $11,231

Cash invested: $36,372 (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 46176

• Home prices YoY: -33.9%
• Active inventory: 229
• Price-to-rent: 9.4×

Monthly cashflow live

• Estimated rent: $1,154 high
• Mortgage (P&I): −$681
• Tax from tax record: −$73 /mo · $882/yr
• Insurance: −$54
• HOA: −$0
• Vacancy / Maint / Mgmt: −$242
• Net cashflow: $103

Break-even live

Break-even rent $1,024

Max offer price $129,900

Occupancy floor 86%

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: $32,475
• Closing costs: $3,897
• Reserves months: —
• Total cash needed: —

Rent comps 10 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
529 W Washington St Shelbyville, IN	1.0	1.0	878	$695	$0.79	1d	1	0.71mi
316 W Franklin St Shelbyville, IN	1.0	1.0	700	$695	$0.99	1d	1	0.72mi
316 W Franklin St Shelbyville, IN	1.0	1.0	750	$645	$0.86	43d	1	0.72mi
348 E Franklin St Shelbyville, IN	2.0	1.0	934	$1,295	$1.39	22d	1	0.81mi
425 N Harrison St Shelbyville, IN	3.0	1.0–2.0	909	$1,614	$1.78	1d	7	0.82mi
1021 Amos Rd Shelbyville, IN	3.0	1.5	1476	$1,635	$1.11	7d	1	0.89mi
713 Indiana Ave Shelbyville, IN	2.0	1.0	1077	$1,100	$1.02	43d	1	0.93mi
809 Indiana Ave Unit 809 Shelbyville, IN	2.0	2.0	1456	$850	$0.58	10d	1	0.97mi
1825 Wichman Ln Shelbyville, IN	2.0	2.0	938	$1,190	$1.27	44d	1	1.25mi
1825 Wichman Ln Shelbyville, IN	2.0	2.0	938	$1,190	$1.27	1d	1	1.25mi

Listing history 17 events

1. 2026-05-04
   status Pending 1129-char remark
2. 2026-05-01
   listed $129,900 Active 1129-char remark
3. 2020-06-05
   soldstatus $93,000 Sold 720-char remark

   Show marketing remark (720 chars)

   Cute, affordable move-in ready 2 bed/1 bath home on quiet side street in Shelbyville. Home offers 2 spacious bedrooms, large living area, flex room that is currently used as an office, but could be a formal dining room, beautiful eat-in kitchen, and recently remodeled bathroom. The exterior of the home offers a huge covered porch and a nice fenced backyard. A lot of work and love has been put into this home to make it ready for its new owners. Recent updates include heating and cooling, light fixtures, paint, water heater, bathroom and kitchen. Home does have original wood floors under some of the carpeting. Large unfinished attic space could possibly offer additional living space. Kitchen appliances included.

4. 2020-04-21
   status Pending 720-char remark

   Show marketing remark (720 chars)

   Cute, affordable move-in ready 2 bed/1 bath home on quiet side street in Shelbyville. Home offers 2 spacious bedrooms, large living area, flex room that is currently used as an office, but could be a formal dining room, beautiful eat-in kitchen, and recently remodeled bathroom. The exterior of the home offers a huge covered porch and a nice fenced backyard. A lot of work and love has been put into this home to make it ready for its new owners. Recent updates include heating and cooling, light fixtures, paint, water heater, bathroom and kitchen. Home does have original wood floors under some of the carpeting. Large unfinished attic space could possibly offer additional living space. Kitchen appliances included.

5. 2020-04-14
   listed $94,900 Active 720-char remark

   Show marketing remark (720 chars)

   Cute, affordable move-in ready 2 bed/1 bath home on quiet side street in Shelbyville. Home offers 2 spacious bedrooms, large living area, flex room that is currently used as an office, but could be a formal dining room, beautiful eat-in kitchen, and recently remodeled bathroom. The exterior of the home offers a huge covered porch and a nice fenced backyard. A lot of work and love has been put into this home to make it ready for its new owners. Recent updates include heating and cooling, light fixtures, paint, water heater, bathroom and kitchen. Home does have original wood floors under some of the carpeting. Large unfinished attic space could possibly offer additional living space. Kitchen appliances included.

6. 2013-01-01
   historical
7. 2012-06-14
   listed $60,000
8. 2010-04-02
   historical
9. 2010-03-31
   soldstatus $43,000
10. 2010-01-11
    listed $52,000
11. 2005-06-01
    soldstatus $43,250
12. 2005-05-20
    soldstatus $43,250
13. 2005-01-19
    listed $43,900
14. 2004-12-29
    historical
15. 2004-09-29
    listed $55,500
16. 2003-12-05
    historical
17. 2003-06-05
    listed $84,000

ⓘ 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: $882 · $73/mo
• Projected year-2 tax: $993 · $83/mo
• Expected delta: +$111/yr (+$9/mo · 12.6%)

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

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone X (unshaded) · 20% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 4/10 Moderate 7 d/yr ≥102°F today · 20 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $13,847
• − Mortgage interest: −$7,276
• − Property taxes: −$882
• − Insurance: −$650
• − Repairs & maintenance: −$1,108
• − Management: −$1,108
• − Depreciation: −$3,779
• Taxable loss: −$955
• Est. tax savings @ 24.0%: +$229
• After-tax cash flow: $1,463/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: Shelbyville Central Schools
• NCES district ID: 1810140
• Math proficiency: 40% ▼ -10.00%
• Reading proficiency: 39% ▼ -9.00%
• Median HH income: $45,199
• Composite: 33.63/100
• National rank: #5402
• State rank: #148 of 301 in IN

Livability — Shelbyville

• Score: 63/100
• State rank: #450
• US rank: #16051

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Shelbyville, IN
• County: Shelby County · 28,782 people
• City population: 28,782
• Metro: Indianapolis-Carmel-Anderson, IN
• Population (ZIP): 28,782
• Household income: $65,182
• Rent vs Own: 35.6% rent · 64.4% own
• Severe rent burden: 921.0

Population outlook (Shelby County) Hauer SSP2

• Today (2025): 45,020 people
• By 2030: 44,962 · -0.1%
• By 2040: 44,126 · -2.0%
• By 2050: 42,110 · -6.5%
• By 2075: 37,131 · -17.5%
• By 2100: 29,714 · -34.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (88%)
• Race & ethnicity: White 88% Hispanic / Latino 7% Two or more races 4% Black 2% Asian 1%
• Hispanic origin (detail): Mexican 5%
• Common ancestry: Italian 2% Slovak 1% Lithuanian 1%
• Foreign-born: 5% · Canada
• Languages at home: 92% English-only · Spanish 5% German/W. Germanic 1% Other Asian/Pacific 1%

Political lean MEDSL · Shelby

• 2024 margin: Solid R (+48.0) · D 25.1% · R 73.1% · Other 1.8%
• 2008→2024 swing: -29.0pp toward R · 2008: -19.0pp · 2024: -48.0pp
• All cycles: 2024: R+48.0 2020: R+47.7 2016: R+47.2 2012: R+33.5 2008: R+19.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -116.59%
• Current HPI: 227.6747
• 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

+66.7% since first listed

18 events — show timeline

• 2026-06-12 Sold (MLS) $140,000 MIBOR as Distributed by MLS Grid
• 2026-05-04 Pending — MIBOR as Distributed by MLS Grid
• 2026-05-01 Listed $129,900 MIBOR as Distributed by MLS Grid
• 2020-06-05 Sold (MLS) $93,000 MIBOR as Distributed by MLS Grid
• 2020-04-21 Pending — MIBOR as Distributed by MLS Grid
• 2020-04-14 Listed $94,900 MIBOR as Distributed by MLS Grid
• 2013-01-01 Listing Removed — MIBOR as Distributed by MLS Grid
• 2012-06-14 Listed $60,000 MIBOR as Distributed by MLS Grid
• 2010-04-02 Listing Removed — MIBOR as Distributed by MLS Grid
• 2010-03-31 Sold (MLS) $43,000 MIBOR as Distributed by MLS Grid
• 2010-01-11 Listed $52,000 MIBOR as Distributed by MLS Grid
• 2005-06-01 Sold (Public Records) $43,250 Public Records
• 2005-05-20 Sold (MLS) $43,250 MIBOR as Distributed by MLS Grid
• 2005-01-19 Listed $43,900 MIBOR as Distributed by MLS Grid
• 2004-12-29 Listing Removed — MIBOR as Distributed by MLS Grid
• 2004-09-29 Listed $55,500 MIBOR as Distributed by MLS Grid
• 2003-12-05 Listing Removed — MIBOR as Distributed by MLS Grid
• 2003-06-05 Listed $84,000 MIBOR as Distributed by MLS Grid

Property tax history

+0.1%/yr

Latest (2025): $882 · -2.9% YoY. Source: county tax records.