9070 N Prairie Rd

Oakville, IN 47386

$2F

3 bd · 2.0 ba · 2,700 sqft · Built 1977 · SingleFamily · Pending · 17 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,255/mo
• Mortgage (P&I): −$1,682
• Tax + insurance: −$535
• HOA: −$0
• Vac / Maint / Mgmt: −$264
• Net cashflow: $-1,225/mo
• Annual: $-14,696/yr
• Cap rate: 1.71%
• Cash-on-cash: -16.37%
• DSCR: 0.27
• 1% rule: 0.39%
• Cash to close: $89,800

Investor read

• This is a 3-bed/2.0-bath single-family listed at $2.
• At list price, monthly cash flow is $-1k ($-15k/yr) — negative.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $2).
• It's been on market 17 days — a 2% lower offer ($1) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $1 (50.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $10k of value loss. Plan a longer hold.
• Location reads: area grade F — affects rentability + tenant quality, not the cash-flow math above.
• Blue River Valley Schools (rural): math 22% / reading 32% proficiency, ranked #255 of 301 in IN (top 85%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Blue River Valley Elementary Sch (math 27% / reading 27%, grade F, #737 of 994 statewide, top 76%, 322 students, 56% FRL); Blue River Valley Jr-Sr High Sch (math 12% / reading 37%, grade F, #325 of 369 statewide, top 91%, 320 students, 41% FRL) — zoned schools average 49% FRL vs 32% district-wide (17 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Watch-outs: property tax is 240535.1% of price.
• Market conditions: 5 active listings in the ZIP; 47 units permitted in Henry County in 2024 (0 in 5+ unit buildings).
• Henry County population projected at -12% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Questions for listing agent

• 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?
• Built in 1977 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
• 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.
• 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.
• 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.