108 N Odon St · Elnora, IN 47529

$76,500

2 bd · 1.0 ba · 1,155 sqft · SingleFamily public records · 95 Days on market

Built 1908 1,200 sqft lot

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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
• DSCR +10.0/10.0
• Appreciation +8.3/10.0
• 1% rule +7.9/10.0
• ARV discount +7.5/15.0
• Schools +3.3/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

2 bedroom, 1 bath home with covered front porch, off street parking and potential investment rental property.

Key facts

• Covered front porch
• Off street parking
• 1,200 sq ft lot

Tags

• COVERED FRONT PORCH
• OFF STREET PARKING

Property features AI

Finance

• Other: Property type: Residential

Exterior

• Parking: Asphalt and gravel off-street parking
• Utilities: Public water; Public sewer
• Home design: Single-family residence; Site-built home; One story
• Construction: Block construction
• Exterior features: No fencing; Level lot; Paved road; Public maintained road

Interior

• Bedrooms: Total rooms: 5
• Flooring: Carpet; Vinyl
• Bathrooms: 1 full bathroom (main level)
• Heating & cooling: Natural gas heating; Central air; Window unit(s)
• Interior features: Window treatments; Free-standing fireplace (1)
• Laundry & utility: Laundry on main level

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $76k.

Deal economics

• At list price, monthly cash flow is $291 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($989 rent vs $76k).
• Recommended offer: $70k (9.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 63/100 on livability (#422 in IN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: employment C-, health & safety C-, crime D+.
• North Daviess Community Schools (rural): math 32% / reading 46% proficiency, ranked #157 of 301 in IN (top 52%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: North Daviess Elementary School (math 37% / reading 44%, grade F, #491 of 994 statewide, top 50%, 637 students, 48% FRL); North Daviess Jr-Sr High School (math 26% / reading 48%, grade F, #247 of 369 statewide, top 70%, 471 students, 49% FRL) — zoned schools average 49% FRL vs 31% district-wide (18 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 6 active listings in the ZIP; 71 units permitted in Daviess County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $6k of equity ($529 loan paydown + $5k appreciation (6.6% local appreciation)).
• Daviess County population projected at +6% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (6.6% appreciation + 3.0% rent growth), your $21k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 6, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 95 days — a 9% lower offer ($70k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $55k; 39% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1908 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $69,615 (9.0% below list)

Questions for the listing agent

1. It's been on market 95 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1908 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
7. 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.
8. 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.
9. 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: 1.29% ✓
• Cap rate: 10.85%
• Cash-on-cash: 16.28%
• DSCR: 1.72
• GRM: 6.4

CMA / ARV

• ARV (on-the-fly): $190,575
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
418 Matilda St	0.27mi	2/2.0	1,246 (+8%)	0mo	$205,000	$165	70
647 S Odon St	0.32mi	2/1.0	1,248 (+8%)	10mo	$65,000	$52	64

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

Projected returns pro-forma

6.61% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 30.1%
• Equity multiple: 3.03×
• Total profit: $43,392
• Equity at exit: $51,078

10-year hold

• IRR: 27.7%
• Equity multiple: 6.25×
• Total profit: $112,493
• Equity at exit: $95,321

Cash invested: $21,420 (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 47529

• Home prices YoY: 3.0%
• Active inventory: 6
• Price-to-rent: 6.4×

Monthly cashflow live

• Estimated rent: $989 medium
• Mortgage (P&I): −$401
• Tax from tax record: −$58 /mo · $692/yr
• Insurance: −$32
• HOA: −$0
• Vacancy / Maint / Mgmt: −$208
• Net cashflow: $291

Break-even live

Break-even rent $621

Max offer price $76,500

Occupancy floor 66%

Sensitivity live

Price	-10% $334	-5% $312	+0% $291	+5% $269	+10% $247
Rent	-10% $212	-5% $251	+0% $291	+5% $330	+10% $369
Rate	-1.0pp $329	-0.5pp $310	base $291	+0.5pp $271	+1.0pp $251

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: $19,125
• Closing costs: $2,295
• Reserves months: —
• Total cash needed: —

Listing history 18 events

1. 2026-06-21
   days on market $76,500 Active 95 DOM
2. 2026-06-18
   days on market $76,500 Active 93 DOM
3. 2026-06-17
   days on market $76,500 Active 92 DOM
4. 2026-06-16
   days on market $76,500 Active 91 DOM
5. 2026-06-15
   days on market $76,500 Active 90 DOM
6. 2026-06-13
   days on market $76,500 Active 88 DOM
7. 2026-06-12
   days on market $76,500 Active 87 DOM
8. 2026-06-09
   days on market $76,500 Active 84 DOM
9. 2026-06-08
   days on market $76,500 Active 83 DOM
10. 2026-06-07
    days on market $76,500 Active 82 DOM
11. 2026-06-07
    days on market $76,500 Active 81 DOM
12. 2026-06-04
    days on market $76,500 Active 78 DOM
13. 2026-06-02
    days on market $76,500 Active 77 DOM
14. 2026-06-01
    days on market $76,500 Active 76 DOM
15. 2026-05-31
    days on market $76,500 Active 75 DOM
16. 2026-05-31
    days on market $76,500 Active 74 DOM
17. 2026-03-17
    listed $76,500 Active
18. 2023-07-21
    soldstatus $55,000

ⓘ 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: $692 · $58/mo
• Projected year-2 tax: $692 · $58/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 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 4/10 Moderate 7 d/yr ≥106°F today · 19 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 2% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $11,868
• − Mortgage interest: −$4,285
• − Property taxes: −$692
• − Insurance: −$382
• − Repairs & maintenance: −$949
• − Management: −$949
• − Depreciation: −$2,225
• Taxable income: $2,384
• Est. tax owed @ 24.0%: −$572
• After-tax cash flow: $2,915/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: North Daviess Community Schools
• NCES district ID: 1807710
• Math proficiency: 32% ▼ -17.00%
• Reading proficiency: 46% ▼ -11.00%
• Median HH income: $45,197
• Composite: 33.15/100
• National rank: #5552
• State rank: #157 of 301 in IN

Livability — Elnora

• Score: 63/100
• State rank: #422
• US rank: #15217

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Elnora, IN
• Population (ZIP): 1,140

Population outlook (Daviess County) Hauer SSP2

• Today (2025): 33,940 people
• By 2030: 34,457 · +1.5%
• By 2040: 35,412 · +4.3%
• By 2050: 35,803 · +5.5%
• By 2075: 35,173 · +3.6%
• By 2100: 29,799 · -12.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (98%)
• Race & ethnicity: White 98%
• Common ancestry: Lithuanian 4% Slovak 3% Serbian 2%
• Languages at home: 80% English-only · German/W. Germanic 20%

Political lean MEDSL · Daviess

• 2024 margin: Solid R (+64.3) · D 17.1% · R 81.5% · Other 1.4%
• 2008→2024 swing: -29.1pp toward R · 2008: -35.2pp · 2024: -64.3pp
• All cycles: 2024: R+64.3 2020: R+62.0 2016: R+62.8 2012: R+50.8 2008: R+35.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 6.61%
• Current HPI: 230.1335
• 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

+39.1% since first listed

2 events — show timeline

• 2026-03-17 Listed $76,500 IRMLS
• 2023-07-21 Sold (Public Records) $55,000 Public Records

Property tax history

+23.8%/yr

Latest (2024): $692 · +784.2% YoY. Source: county tax records.