1617 M St · Bedford, IN 47421

$155,000

4 bd · 2.0 ba · 2,019 sqft · SingleFamily public records · 18 Days on market

Built 1870 5,663 sqft lot $77/sqft · 35% below area Est $237k · 35% under ↓ 21% since listing

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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 +22.4/30.0
• ARV discount +15.0/15.0
• DSCR +7.2/10.0
• 1% rule +4.9/10.0
• Livability +4.0/5.0
• Schools +3.2/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Spacious opportunity in the heart of Bedford! This charming 4-bedroom, 2-bath home offers over 2,000 square feet of potential and is ready for the right investor or buyer looking to add their personal touch. Major exterior updates have already been completed, including a newer roof, windows, and siding — all replaced within the last 5 years. The home also features a detached 2-car garage and sits on a nice lot with plenty of room to enjoy. Whether you’re looking for your next investment property, flip opportunity, or a project home with great bones, this property is full of promise. Home is being sold AS-IS.

Key facts

• Newer roof
• Nice lot
• Newer siding

Tags

• MAJOR EXTERIOR UPDATES
• NEWER ROOF
• NEWER WINDOWS
• NEWER SIDING
• DETACHED GARAGE
• NICE LOT

Property features AI

Finance

• HOA & community: No association amenities

Exterior

• Parking: Detached garage with garage door opener; Concrete driveway/parking
• Utilities: Public water; Public sewer; Public power
• Home design: Single-family residence, site-built; Two stories
• Construction: Vinyl siding; Asphalt roof; Basement: partial, unfinished crawl space
• Exterior features: Covered porch; Patio/porch

Interior

• Kitchen: Disposal; Dishwasher; Microwave; Refrigerator; Gas range
• Bedrooms: Total rooms: 7
• Flooring: Hardwood; Laminate; Vinyl
• Bathrooms: Two full bathrooms; One main-level bathroom
• Heating & cooling: Natural gas heating; Central air conditioning; Ceiling fans
• Interior features: Entrance foyer; Ceiling fans; Laminate countertops; One fireplace (none specified as operable)
• Laundry & utility: Washer hookup; Electric dryer hookup; Main-level laundry; Gas water heater; Sump pump

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $155k.

Deal economics

• At list price, monthly cash flow is $258 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $154k (1.0% below list).
• Recommended offer: $153k (1.5% below list) — sets the bar for market timing.
• Cap rate 8.3% vs local median 4.2% in Bedford — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 80/100 on livability (#23 in IN, #1,958 nationally) — a professional / high-income tenant draw. Strengths: crime A+, cost of living A+, housing A+; Watch: employment D, commute F.
• North Lawrence Community Schools (rural): math 35% / reading 40% proficiency, ranked #170 of 301 in IN (top 56%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Parkview Elementary School (math 44% / reading 39%, grade F, #478 of 994 statewide, top 49%, 513 students, 63% FRL); Bedford Middle School (math 23% / reading 36%, grade F, #212 of 330 statewide, top 67%, 562 students, 54% FRL); Bedford-North Lawrence High School (math 38% / reading 63%, grade D+, #117 of 369 statewide, top 32%, 1,303 students, 46% FRL).
• Market conditions: 158 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 8 units permitted in Lawrence County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• Lawrence County population projected at -14% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 18 days — a 2% lower offer ($153k) is reasonable based on typical stale-listing flexibility.
• 3 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 1870 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $152,675 (1.5% below list)

Questions for the listing agent

1. Built in 1870 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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.
4. 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.
5. 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: 0.99% ✗
• Cap rate: 8.29%
• Cash-on-cash: 7.14%
• DSCR: 1.32
• GRM: 8.4

CMA / ARV

• ARV (median comp): $236,770
• List price: $155,000
• Delta: -30.31%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1616 Q St	0.29mi	4/2.5	2,099 (+4%)	0mo	$249,900	$119	78
1412 19th St	0.22mi	3/2.0 (-1)	2,041 (+1%)	7mo	$269,900	$132	77
1419 22nd St	0.40mi	4/3.0	2,099 (+4%)	0mo	$214,900	$102	70
2127 Washington Ave	0.52mi	3/2.0 (-1)	2,118 (+5%)	1mo	$216,000	$102	62
1308 19th St	0.19mi	3/2.0 (-1)	1,804 (-11%)	9mo	$255,000	$141	61
1418 19th Street St	0.22mi	5/2.0 (+1)	2,319 (+15%)	2mo	$306,000	$132	58
1810 H St. St	0.46mi	3/2.5 (-1)	1,854 (-8%)	3mo	$275,001	$148	56
330 17th St	0.75mi	4/2.5	2,032 (+1%)	8mo	$248,000	$122	55
1921 H St	0.47mi	4/2.5	1,810 (-10%)	6mo	$240,000	$133	53
1907 H St	0.46mi	4/3.5	2,184 (+8%)	8mo	$256,000	$117	53
1634 22nd St	0.52mi	3/2.0 (-1)	1,826 (-10%)	8mo	$219,900	$120	48
1617 9th St	0.72mi	4/2.0	2,304 (+14%)	2mo	$195,000	$85	42

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

Projected returns pro-forma

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

5-year hold

• IRR: -5.4%
• Equity multiple: 0.80×
• Total profit: $-8,726
• Equity at exit: $23,111

10-year hold

• IRR: 4.2%
• Equity multiple: 1.31×
• Total profit: $13,372
• Equity at exit: $13,402

Cash invested: $43,400 (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 47421

• Home prices YoY: -25.2%
• Active inventory: 158
• Price-to-rent: 8.4×

Monthly cashflow live

• Estimated rent: $1,535 medium
• Mortgage (P&I): −$813
• Tax from tax record: −$77 /mo · $928/yr
• Insurance: −$65
• HOA: −$0
• Vacancy / Maint / Mgmt: −$322
• Net cashflow: $258

Break-even live

Break-even rent $1,209

Max offer price $155,000

Occupancy floor 78%

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: $38,750
• Closing costs: $4,650
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2115 G St Bedford, IN	3.0	2.0	1500	$1,750	$1.17	21d	1	0.60mi

Listing history 26 events

1. 2026-06-19
   days on market $155,000 Active 18 DOM
2. 2026-06-18
   days on market $155,000 Active 17 DOM
3. 2026-06-17
   days on market $155,000 Active 16 DOM
4. 2026-06-16
   days on market $155,000 Active 15 DOM
5. 2026-06-15
   days on market $155,000 Active 14 DOM
6. 2026-06-14
   days on market $155,000 Active 12 DOM
7. 2026-06-13
   days on market $155,000 Active 11 DOM
8. 2026-06-10
   days on market $155,000 Active 9 DOM
9. 2026-06-09
   days on market $155,000 Active 8 DOM
10. 2026-06-08
    days on market $155,000 Active 7 DOM
11. 2026-06-07
    days on market $155,000 Active 6 DOM
12. 2026-06-05
    days on market $155,000 Active 3 DOM
13. 2026-06-03
    days on market $155,000 Active 2 DOM
14. 2026-06-02
    pricedays on marketlisting id $155,000 Active 1 DOM
15. 2026-05-31
    days on market $165,000 Active 17 DOM
16. 2026-05-30
    days on market $165,000 Active 16 DOM
17. 2026-05-14
    listed $165,000 Active 627-char remark
18. 2026-05-11
    historical
19. 2026-04-24
    price $155,000
20. 2026-04-21
    price $160,000
21. 2026-04-16
    price $165,000
22. 2026-04-09
    price $170,000
23. 2026-04-02
    price $175,000
24. 2026-03-23
    price $183,000
25. 2026-03-17
    price $190,000
26. 2026-03-06
    listed $195,000 Active

ⓘ 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: $928 · $77/mo
• Projected year-2 tax: $1,123 · $94/mo
• Expected delta: +$195/yr (+$16/mo · 21.0%)

ⓘ 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 ≥104°F today · 20 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $18,423
• − Mortgage interest: −$8,682
• − Property taxes: −$928
• − Insurance: −$775
• − Repairs & maintenance: −$1,474
• − Management: −$1,474
• − Depreciation: −$4,509
• Taxable income: $581
• Est. tax owed @ 24.0%: −$139
• After-tax cash flow: $2,958/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 Lawrence Community Schools
• NCES district ID: 1807860
• Math proficiency: 35% ▼ -2.00%
• Reading proficiency: 40% ▼ -3.00%
• Median HH income: $44,566
• Composite: 31.88/100
• National rank: #5864
• State rank: #170 of 301 in IN

Livability — Bedford

• Score: 80/100
• State rank: #23
• US rank: #1958

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Bedford, IN
• County: Lawrence County · 27,599 people
• City population: 27,599
• Metro: Bedford, IN
• Population (ZIP): 27,599
• Household income: $68,108
• Rent vs Own: 20.0% rent · 80.0% own
• Severe rent burden: 507.0

Population outlook (Lawrence County) Hauer SSP2

• Today (2025): 44,347 people
• By 2030: 43,331 · -2.3%
• By 2040: 40,887 · -7.8%
• By 2050: 38,297 · -13.6%
• By 2075: 32,479 · -26.8%
• By 2100: 26,051 · -41.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (94%)
• Race & ethnicity: White 94% Two or more races 4% Hispanic / Latino 2%
• Common ancestry: Slovak 3% Italian 2% Scotch-Irish 1%
• Foreign-born: 1% · Canada
• Languages at home: 99% English-only · Spanish 1%

Political lean MEDSL · Lawrence

• 2024 margin: Solid R (+51.0) · D 23.6% · R 74.6% · Other 1.7%
• 2008→2024 swing: -30.5pp toward R · 2008: -20.6pp · 2024: -51.0pp
• All cycles: 2024: R+51.0 2020: R+50.6 2016: R+51.5 2012: R+32.8 2008: R+20.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -81.32%
• Current HPI: 240.959
• Rent YoY: —
• Metro: Bedford, 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

-20.5% since first listed

11 events — show timeline

• 2026-06-01 Listed $155,000 IRMLS
• 2026-05-14 Listed $165,000 IRMLS
• 2026-05-11 Listing Removed — MIBOR as Distributed by MLS Grid
• 2026-04-24 Price Changed $155,000 MIBOR as Distributed by MLS Grid
• 2026-04-21 Price Changed $160,000 MIBOR as Distributed by MLS Grid
• 2026-04-16 Price Changed $165,000 MIBOR as Distributed by MLS Grid
• 2026-04-09 Price Changed $170,000 MIBOR as Distributed by MLS Grid
• 2026-04-02 Price Changed $175,000 MIBOR as Distributed by MLS Grid
• 2026-03-23 Price Changed $183,000 MIBOR as Distributed by MLS Grid
• 2026-03-17 Price Changed $190,000 MIBOR as Distributed by MLS Grid
• 2026-03-06 Listed $195,000 MIBOR as Distributed by MLS Grid

Property tax history

-9.8%/yr

Latest (2025): $928 · -5.0% YoY. Source: county tax records.