4745 Upper Patton Park Rd · Martinsville, IN 46151

$54,900

2 bd · 1.0 ba · 750 sqft · SingleFamily public records · 62 Days on market

Built 1950 0.26 ac lot $73/sqft · 67% above area

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• 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

This 2 bedroom 1 bath handy man special has an awesome rural location close to Patton Lake. The home backs up to a small canal and features a 2c-d garage, desirable lot, and much more. This is a rare opportunity on Upper Patton Park and will not last long. Home is being sold through an Auction (See Below). Auction begins on 5/17/2026 and ends on 5/19/2026

Key facts

• 0.26 acre lot
• 2 garage spots
• Built 1950

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $55k.

Deal economics

• At list price, monthly cash flow is $387 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $55k).
• Recommended offer: $52k (6.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 65/100 on livability (#335 in IN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: employment D+, amenities F, commute F.
• Monroe-Gregg School District (rural): math 31% / reading 45% proficiency, ranked #143 of 301 in IN (top 48%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 73 active listings in the ZIP; solid renter incomes; 330 units permitted in Morgan County in 2024 (0 in 5+ unit buildings).
• This rent is only 16% of the median local income ($79k/yr) — well below the 30% rent-burden line; pricing power to push rent on renewal without tenant pushback.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $380 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Morgan County population projected to shrink 6% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $15k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 62 days — a 6% lower offer ($52k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 26y 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 $32k; list at $55k implies a 74% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo; built in 1950 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $51,606 (6.0% below list)

Questions for the listing agent

1. It's been on market 62 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1950 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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.
7. 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.
8. 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: 1.92% ✓
• Cap rate: 16.21%
• Cash-on-cash: 35.43%
• DSCR: 2.58
• GRM: 4.4

CMA / ARV

• ARV (median comp): $32,946
• List price: $54,900
• Delta: 66.64%
• Verdict: OVERPRICED
• Comps: 4 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 24.9%
• Equity multiple: 2.03×
• Total profit: $15,837
• Equity at exit: $8,186

10-year hold

• IRR: 32.7%
• Equity multiple: 3.98×
• Total profit: $45,790
• Equity at exit: $4,747

Cash invested: $15,372 (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 46151

• Active inventory: 73
• Price-to-rent: 4.4×

Monthly cashflow live

• Estimated rent: $1,052 medium
• Mortgage (P&I): −$288
• Tax from tax record: −$66 /mo · $793/yr
• Insurance: −$23
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$221
• Net cashflow: $387

Break-even live

Break-even rent $561

Max offer price $54,900

Occupancy floor 58%

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: $13,725
• Closing costs: $1,647
• Reserves months: —
• Total cash needed: —

Listing history 22 events

1. 2026-06-18
   days on market $54,900 Active 62 DOM
2. 2026-06-17
   days on market $54,900 Active 61 DOM
3. 2026-06-16
   days on market $54,900 Active 60 DOM
4. 2026-06-15
   days on market $54,900 Active 59 DOM
5. 2026-06-13
   days on market $54,900 Active 57 DOM
6. 2026-06-09
   days on market $54,900 Active 53 DOM
7. 2026-06-08
   days on market $54,900 Active 52 DOM
8. 2026-06-07
   days on market $54,900 Active 51 DOM
9. 2026-06-05
   days on market $54,900 Active 48 DOM
10. 2026-06-03
    days on market $54,900 Active 47 DOM
11. 2026-06-02
    days on market $54,900 Active 46 DOM
12. 2026-06-01
    days on market $54,900 Active 45 DOM
13. 2026-05-31
    days on market $54,900 Active 44 DOM
14. 2026-04-16
    listed $54,900 Active 361-char remark

    Show marketing remark (361 chars)

    This 2 bedroom 1 bath handy man special has an awesome rural location close to Patton Lake. The home backs up to a small canal and features a 2c-d garage, desirable lot, and much more. This is a rare opportunity on Upper Patton Park and will not last long. Home is being sold through an Auction (See Below). Auction begins on 5/17/2026 and ends on 5/19/2026

15. 2005-09-15
    historical
16. 2005-03-16
    listed $53,000
17. 2004-02-21
    historical
18. 2004-02-21
    historical
19. 2003-09-11
    listed $57,000
20. 2003-01-07
    listed $57,000
21. 2000-12-22
    soldstatus $31,500
22. 2000-09-12
    listed $34,000

ⓘ 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: $793 · $66/mo
• Projected year-2 tax: $793 · $66/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 9/10 Extreme FEMA zone X (unshaded) · 99% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥102°F today · 19 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 0% 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: $12,619
• − Mortgage interest: −$3,075
• − Property taxes: −$793
• − Insurance: −$1,072
• − Repairs & maintenance: −$1,010
• − Management: −$1,010
• − Depreciation: −$1,597
• Taxable income: $4,063
• Est. tax owed @ 24.0%: −$975
• After-tax cash flow: $3,674/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: Monroe-Gregg School District
• NCES district ID: 1804140
• Math proficiency: 31% ▼ -9.00%
• Reading proficiency: 45% ▼ -4.00%
• Median HH income: $64,767
• Composite: 34.2/100
• National rank: #5266
• State rank: #143 of 301 in IN

Livability — Martinsville

• Score: 65/100
• State rank: #335
• US rank: #12954

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Morgan County · 32,446 people
• City population: 32,446
• Metro: Indianapolis-Carmel-Anderson, IN
• Population (ZIP): 32,446
• Household income: $78,812
• Rent vs Own: 19.9% rent · 80.1% own
• Severe rent burden: 471.0

Population outlook (Morgan County) Hauer SSP2

• Today (2025): 71,081 people
• By 2030: 71,178 · +0.1%
• By 2040: 69,907 · -1.7%
• By 2050: 66,455 · -6.5%
• By 2075: 57,291 · -19.4%
• By 2100: 43,782 · -38.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (95%)
• Race & ethnicity: White 95% Two or more races 3% Hispanic / Latino 2%
• Common ancestry: Slovak 2% Italian 2% Iranian 1%
• Foreign-born: 1% · Canada
• Languages at home: 98% English-only · Spanish 1%

Political lean MEDSL · Morgan

• 2024 margin: Solid R (+54.3) · D 22.0% · R 76.3% · Other 1.7%
• 2008→2024 swing: -27.3pp toward R · 2008: -27.1pp · 2024: -54.3pp
• All cycles: 2024: R+54.3 2020: R+54.6 2016: R+56.6 2012: R+41.1 2008: R+27.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -170.35%
• Current HPI: 225.7797
• 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

+61.5% since first listed

9 events — show timeline

• 2026-04-16 Listed $54,900 MIBOR as Distributed by MLS Grid
• 2005-09-15 Listing Removed — MIBOR as Distributed by MLS Grid
• 2005-03-16 Listed $53,000 MIBOR as Distributed by MLS Grid
• 2004-02-21 Listing Removed — MIBOR as Distributed by MLS Grid
• 2004-02-21 Listing Removed — MIBOR as Distributed by MLS Grid
• 2003-09-11 Listed $57,000 MIBOR as Distributed by MLS Grid
• 2003-01-07 Listed $57,000 MIBOR as Distributed by MLS Grid
• 2000-12-22 Sold (MLS) $31,500 MIBOR as Distributed by MLS Grid
• 2000-09-12 Listed $34,000 MIBOR as Distributed by MLS Grid

Property tax history

+4.5%/yr

Latest (2025): $793 · +10.5% YoY. Source: county tax records.