104 S Division St · Francisco, IN 47649

$77,000

2 bd · 1.0 ba · 832 sqft · SingleFamily public records · 31 Days on market

Built 1925 7,841 sqft lot $93/sqft · 22% below area Est $99k · 22% under

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Why this score? — see what drove the A- 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 +29.2/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• Appreciation +9.2/10.0
• 1% rule +6.8/10.0
• Schools +3.2/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

Cozy and cute 2-bedroom, 1-bath home offering 832 square feet, perfect for a starter home, downsizing, or an investment opportunity. Inside, you’ll find a spacious living room and an adorable retro kitchen full of character, featuring unique wallpaper, a breakfast bar, and an included appliance suite with refrigerator, electric range, and microwave. Both bedrooms offer comfortable space, and the home also includes a washer and dryer for added convenience. This home has a welcoming feel and is ready for its next owner.

Key facts

• Washer and dryer
• Retro kitchen
• Breakfast bar

Tags

• RETRO KITCHEN
• BREAKFAST BAR
• INCLUDED APPLIANCE SUITE
• WASHER AND DRYER

Property features AI

Finance

• Other: Property listed with RE/MAX REVOLUTION
• Financial info: Financial details not provided
• HOA & community: No subdivision

Exterior

• Parking: Parking details not provided
• Security: Security details not provided
• Utilities: Public water; Public sewer
• Home design: Single-family site-built home; One story
• Construction: Vinyl siding; Built with site-built construction
• Exterior features: Level lot; Outbuilding on the property

Interior

• Kitchen: Kitchen details not provided
• Bedrooms: Bedrooms information not provided
• Flooring: Flooring details not provided
• Bathrooms: One full bathroom (main level)
• Heating & cooling: Central air conditioning; Forced air heating
• Interior features: Crawl space basement; Total of 5 rooms
• Laundry & utility: Laundry located on the main level

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $77k.

Deal economics

• At list price, monthly cash flow is $268 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($909 rent vs $77k).
• Recommended offer: $75k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 63/100 on livability (#425 in IN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: crime C-, amenities F, commute F.
• East Gibson School Corporation (town): math 40% / reading 35% proficiency, ranked #171 of 301 in IN (top 57%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Waldo J Wood Memorial Jhs (math 27% / reading 32%, grade F, #212 of 330 statewide, top 67%, 119 students, 60% FRL); Waldo J Wood Memorial High (math 34% / reading 44%, grade F, #221 of 369 statewide, top 63%, 212 students, 37% FRL).
• Market conditions: 5 active listings in the ZIP; 167 units permitted in Gibson County in 2024 (68 in 5+ unit buildings).

Forward outlook

• In year one you build about $7k of equity ($532 loan paydown + $6k appreciation (8.4% local appreciation)).
• Gibson County population projected to shrink 10% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (8.4% appreciation + 3.0% rent growth), your $22k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 5, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 31 days — a 3% lower offer ($75k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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 1925 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $74,690 (3.0% below list)

Questions for the listing agent

1. It's been on market 31 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1925 — 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. 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: 1.18% ✓
• Cap rate: 10.47%
• Cash-on-cash: 14.92%
• DSCR: 1.66
• GRM: 7.1

CMA / ARV

• ARV (median comp): $99,007
• List price: $77,000
• Delta: -22.23%
• Verdict: UNDERPRICED
• Comps: 10 within 1.0 mi

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
705 W School St	0.37mi	2/1.0	768 (-8%)	10mo	$135,000	$176	62
105 N Second St	0.20mi	2/1.0	940 (+13%)	13mo	$140,000	$149	59

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

8.42% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 32.4%
• Equity multiple: 3.36×
• Total profit: $50,826
• Equity at exit: $60,696

10-year hold

• IRR: 28.6%
• Equity multiple: 7.25×
• Total profit: $134,838
• Equity at exit: $122,640

Cash invested: $21,560 (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 47649

• Home prices YoY: 4.3%
• Active inventory: 5
• Price-to-rent: 7.1×

Monthly cashflow live

• Estimated rent: $909 medium
• Mortgage (P&I): −$404
• Tax from tax record: −$14 /mo · $170/yr
• Insurance: −$32
• HOA: −$0
• Vacancy / Maint / Mgmt: −$191
• Net cashflow: $268

Break-even live

Break-even rent $570

Max offer price $77,000

Occupancy floor 66%

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: $19,250
• Closing costs: $2,310
• Reserves months: —
• Total cash needed: —

Listing history 17 events

1. 2026-06-18
   days on market $77,000 Active 31 DOM
2. 2026-06-17
   days on market $77,000 Active 30 DOM
3. 2026-06-16
   days on market $77,000 Active 29 DOM
4. 2026-06-15
   days on market $77,000 Active 28 DOM
5. 2026-06-13
   days on market $77,000 Active 26 DOM
6. 2026-06-12
   days on market $77,000 Active 25 DOM
7. 2026-06-09
   days on market $77,000 Active 22 DOM
8. 2026-06-08
   days on market $77,000 Active 21 DOM
9. 2026-06-07
   days on market $77,000 Active 20 DOM
10. 2026-06-07
    days on market $77,000 Active 19 DOM
11. 2026-06-04
    days on market $77,000 Active 16 DOM
12. 2026-06-02
    days on market $77,000 Active 15 DOM
13. 2026-06-01
    days on market $77,000 Active 14 DOM
14. 2026-05-31
    days on market $77,000 Active 13 DOM
15. 2026-05-31
    days on market $77,000 Active 12 DOM
16. 2026-05-08
    status Pending 529-char remark
17. 2026-05-04
    listed $77,000 Active 529-char remark

ⓘ 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: $170 · $14/mo
• Projected year-2 tax: $412 · $34/mo
• Expected delta: +$242/yr (+$20/mo · 142.2%)

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 5/10 Major 7 d/yr ≥107°F today · 19 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 3% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $10,909
• − Mortgage interest: −$4,313
• − Property taxes: −$170
• − Insurance: −$385
• − Repairs & maintenance: −$873
• − Management: −$873
• − Depreciation: −$2,240
• Taxable income: $2,055
• Est. tax owed @ 24.0%: −$493
• After-tax cash flow: $2,724/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: East Gibson School Corporation
• NCES district ID: 1802940
• Math proficiency: 40% ▼ -5.00%
• Reading proficiency: 35% ▼ -6.00%
• Median HH income: $42,426
• Composite: 31.73/100
• National rank: #5908
• State rank: #171 of 301 in IN

Livability — Francisco

• Score: 63/100
• State rank: #425
• US rank: #15327

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Francisco, IN
• Population (ZIP): 1,310

Population outlook (Gibson County) Hauer SSP2

• Today (2025): 33,671 people
• By 2030: 33,409 · -0.8%
• By 2040: 32,364 · -3.9%
• By 2050: 30,453 · -9.6%
• By 2075: 24,610 · -26.9%
• By 2100: 16,217 · -51.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (94%)
• Race & ethnicity: White 94% Two or more races 2% Black 2%
• Common ancestry: Serbian 2% Italian 1% Iranian 1%
• Languages at home: 99% English-only · German/W. Germanic 1%

Political lean MEDSL · Gibson

• 2024 margin: Solid R (+51.4) · D 23.4% · R 74.8% · Other 1.8%
• 2008→2024 swing: -38.2pp toward R · 2008: -13.2pp · 2024: -51.4pp
• All cycles: 2024: R+51.4 2020: R+48.2 2016: R+47.6 2012: R+31.0 2008: R+13.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 8.42%
• Current HPI: 205.2718
• 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

3 events — show timeline

• 2026-05-21 Relisted — IRMLS
• 2026-05-08 Pending — IRMLS
• 2026-05-04 Listed $77,000 IRMLS

Property tax history

+2.5%/yr

Latest (2020): $170 · +7.1% YoY. Source: county tax records.