302 N Michigan St · Oxford, IN 47971

$160,000

3 bd · 1.0 ba · 2,016 sqft · SingleFamily public records · 18 Days on market

Built 1935 0.28 ac lot $79/sqft · 28% below area Est $167k · 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 +13.2/30.0
• Appreciation +10.0/10.0
• ARV discount +9.4/15.0
• DSCR +4.0/10.0
• Schools +3.5/10.0
• Livability +3.2/5.0
• 1% rule +2.7/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Could be two bedroom down and 2 up. Back yard is small but side yard is big. Home has alot of plug in in each room. Great starter home or rental at this time rentals are needrd badly.

Key facts

• Well kept lawn
• Refreshed side deck
• Eat in kitchen

Tags

• WELL KEPT LAWN
• MATURE TREES
• VINYL SIDING
• STANDING SEAM METAL ROOF
• REFRESHED SIDE DECK
• EAT IN KITCHEN

Property features AI

Finance

• Other: Lot dimensions approximately 107 x 60/29 x 41 (0.28 acres)
• Financial info: Financial details not included
• HOA & community: No HOA information listed

Exterior

• Parking: Gravel parking
• Security: No security features listed
• Utilities: Public water; Public sewer; Electric service
• Home design: Single-family residence, site-built; One story
• Construction: Vinyl siding; Metal roof; Crawl space foundation; Built as site-built home
• Exterior features: Deck; Level lot

Interior

• Kitchen: Dishwasher; Refrigerator; Electric range
• Bedrooms: Bedrooms information not provided
• Flooring: Carpet; Vinyl
• Bathrooms: One full bathroom (main level)
• Heating & cooling: Natural gas forced-air heating; Central air conditioning; Ceiling fans
• Interior features: Ceiling fans; Eat-in kitchen; Laminate countertops; One fireplace
• Laundry & utility: Washer hookup (main level); Electric dryer hookup (main level); Electric water heater

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $160k.

Deal economics

• At list price, monthly cash flow is $-2 ($-19/yr) — negative.
• To cash-flow at today's rent, offer at most $160k (0.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $124k (22.6% below list).
• Recommended offer: $124k (22.6% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 64/100 on livability (#394 in IN) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F, employment F.
• Benton Community School Corporation (rural): math 38% / reading 43% proficiency, ranked #134 of 301 in IN (top 44%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Prairie Crossing Elementary School (math 46% / reading 37%, grade F, #478 of 994 statewide, top 49%, 561 students, 65% FRL); Benton Central Jr-Sr High School (math 31% / reading 53%, grade F, #197 of 369 statewide, top 57%, 790 students, 48% FRL) — zoned schools average 57% FRL vs 38% district-wide (18 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 13 active listings in the ZIP.

Forward outlook

• In year one you build about $17k of equity ($1k loan paydown + $16k appreciation (10.0% local appreciation)).
• Benton County population projected at -13% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $45k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$43k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 18 days — a 2% lower offer ($158k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 5y 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.
• Current owner paid $135k; 19% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1935 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $123,858 (22.6% 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. Built in 1935 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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.
6. 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.
7. 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: 0.77% ✗
• Cap rate: 6.28%
• Cash-on-cash: -0.04%
• DSCR: 1.00
• GRM: 10.8

CMA / ARV

• ARV (median comp): $167,208
• List price: $160,000
• Delta: -4.31%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
403 Locust St	0.13mi	3/2.0	1,980 (-2%)	10mo	$243,500	$123	78
102 S Sheets St	0.36mi	3/2.0	2,064 (+2%)	2mo	$255,000	$124	74
207 S Michigan St	0.19mi	4/1.5 (+1)	1,800 (-11%)	3mo	$60,000	$33	64
306 N Howard St	0.21mi	4/2.0 (+1)	2,104 (+4%)	12mo	$165,000	$78	64
204 N Howard St	0.21mi	3/2.0	2,208 (+10%)	8mo	$229,000	$104	63
204 W Smith St	0.37mi	3/2.0	1,976 (-2%)	18mo	$165,000	$84	60
611 E Hawley St	0.45mi	3/1.5	1,920 (-5%)	12mo	$265,000	$138	59
403 E Smith St	0.12mi	4/1.0 (+1)	1,840 (-9%)	19mo	$133,000	$72	59
403 S Michigan St	0.32mi	3/1.5	1,725 (-14%)	2mo	$219,900	$127	57
207 W Smith St	0.39mi	3/2.0	2,136 (+6%)	19mo	$225,530	$106	52
305 W Smith St	0.43mi	4/1.0 (+1)	1,771 (-12%)	7mo	$170,000	$96	49
316 E Pheasant Run	0.57mi	4/2.0 (+1)	1,768 (-12%)	6mo	$312,000	$176	39

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: 24.2%
• Equity multiple: 2.94×
• Total profit: $86,983
• Equity at exit: $144,141

10-year hold

• IRR: 21.5%
• Equity multiple: 6.72×
• Total profit: $256,113
• Equity at exit: $310,845

Cash invested: $44,800 (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 47971

• Home prices YoY: 11.9%
• Active inventory: 13
• Price-to-rent: 10.8×

Monthly cashflow live

• Estimated rent: $1,239 medium
• Mortgage (P&I): −$839
• Tax from tax record: −$74 /mo · $892/yr
• Insurance: −$67
• HOA: −$0
• Vacancy / Maint / Mgmt: −$260
• Net cashflow: $-2

Break-even live

Break-even rent $1,241

Max offer price $159,728

Occupancy floor 95%

Sensitivity live

Price	-10% $89	-5% $44	+0% $-2	+5% $-47	+10% $-92
Rent	-10% $-99	-5% $-50	+0% $-2	+5% $47	+10% $96
Rate	-1.0pp $79	-0.5pp $39	base $-2	+0.5pp $-43	+1.0pp $-85

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: $40,000
• Closing costs: $4,800
• Reserves months: —
• Total cash needed: —

Listing history 8 events

1. 2026-05-18
   status Pending 2341-char remark
2. 2026-05-12
   price $160,000 2341-char remark
3. 2026-04-30
   listed $165,000 Active 2341-char remark
4. 2024-04-02
   soldstatus $135,000 Closed 183-char remark

   Show marketing remark (183 chars)

   Could be two bedroom down and 2 up. Back yard is small but side yard is big. Home has alot of plug in in each room. Great starter home or rental at this time rentals are needrd badly.

5. 2024-02-03
   status Pending 183-char remark

   Show marketing remark (183 chars)

   Could be two bedroom down and 2 up. Back yard is small but side yard is big. Home has alot of plug in in each room. Great starter home or rental at this time rentals are needrd badly.

6. 2023-12-19
   listed $139,500 Active 183-char remark

   Show marketing remark (183 chars)

   Could be two bedroom down and 2 up. Back yard is small but side yard is big. Home has alot of plug in in each room. Great starter home or rental at this time rentals are needrd badly.

7. 2021-07-02
   soldstatus $100,000

   Show marketing remark (174 chars)

   Nicely renovated 3 bedroom home in Oxford. Upstairs bonus space could be used for an additional bedroom or family room/office. Brand new roof . Move in ready, schedule today.

8. 2021-03-23
   listed $115,500

   Show marketing remark (174 chars)

   Nicely renovated 3 bedroom home in Oxford. Upstairs bonus space could be used for an additional bedroom or family room/office. Brand new roof . Move in ready, schedule today.

ⓘ 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: $892 · $74/mo
• Projected year-2 tax: $1,126 · $94/mo
• Expected delta: +$234/yr (+$20/mo · 26.3%)

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

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone X (unshaded) · 71% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥102°F today · 18 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: $14,863
• − Mortgage interest: −$8,962
• − Property taxes: −$892
• − Insurance: −$800
• − Repairs & maintenance: −$1,189
• − Management: −$1,189
• − Depreciation: −$4,655
• Taxable loss: −$2,824
• Est. tax savings @ 24.0%: +$678
• After-tax cash flow: $659/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: Benton Community School Corporation
• NCES district ID: 1800480
• Math proficiency: 38% ▼ -7.00%
• Reading proficiency: 43% ▼ -7.00%
• Median HH income: $50,073
• Composite: 34.9/100
• National rank: #5076
• State rank: #134 of 301 in IN

Livability — Oxford

• Score: 64/100
• State rank: #394
• US rank: #14558

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Oxford, IN
• Population (ZIP): 1,718

Population outlook (Benton County) Hauer SSP2

• Today (2025): 8,404 people
• By 2030: 8,234 · -2.0%
• By 2040: 7,832 · -6.8%
• By 2050: 7,337 · -12.7%
• By 2075: 6,436 · -23.4%
• By 2100: 5,139 · -38.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (90%)
• Race & ethnicity: White 90% Two or more races 4% Black 4% Hispanic / Latino 3%
• Common ancestry: Iranian 5% Slovak 4% Lithuanian 2%
• Foreign-born: 1% · Canada
• Languages at home: 97% English-only · Spanish 2% German/W. Germanic 1%

Political lean MEDSL · Benton

• 2024 margin: Solid R (+47.1) · D 25.5% · R 72.7% · Other 1.8%
• 2008→2024 swing: -30.9pp toward R · 2008: -16.3pp · 2024: -47.1pp
• All cycles: 2024: R+47.1 2020: R+48.6 2016: R+47.0 2012: R+32.7 2008: R+16.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 34.25%
• Current HPI: 320.9159
• 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

+38.5% since first listed

8 events — show timeline

• 2026-05-18 Pending — IRMLS
• 2026-05-12 Price Changed $160,000 IRMLS
• 2026-04-30 Listed $165,000 IRMLS
• 2024-04-02 Sold (MLS) $135,000 IRMLS
• 2024-02-03 Pending — IRMLS
• 2023-12-19 Listed $139,500 IRMLS
• 2021-07-02 Sold (MLS) $100,000 IRMLS
• 2021-03-23 Listed $115,500 IRMLS

Property tax history

+4.0%/yr

Latest (2024): $892 · +12.2% YoY. Source: county tax records.