302 E Washington St · Waynetown, IN 47990

$189,900

5 bd · 1.0 ba · 2,072 sqft · SingleFamily public records · 123 Days on market

Built 1900 6,316 sqft lot Est $261k · 27% under

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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).

• ARV discount +15.0/15.0
• Cash flow +14.2/30.0
• Appreciation +6.4/10.0
• DSCR +4.3/10.0
• Schools +4.3/10.0
• 1% rule +3.4/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

You can't beat this charming, historic home in downtown Waynetown! With 4 BRs, 1 Full BA and 2,072 SF, there is plenty of space for everyone. The tall 10-ft. ceilings and original hardwoods throughout display the home's character. The Laundry/Mudroom is HUGE at 16x12 and presents tons of possibilities. The Kitchen has an original built-in china cabinet. The home features 2 SEPARATE LIVING SPACES on the main level with both a Living Room AND a Family Room. The Dining Room, Master BR & Full BA are also all located on the main floor. The other 3 BRs are all upstairs. (Don't overlook the maple leaf stamped artwork on the stairway. .. so cool & unique!) The unfinished Basement is c

Key facts

• Original hardwoods
• Mini barn
• Huge laundry mudroom

Tags

• HISTORIC HOME
• ORIGINAL HARDWOODS
• HUGE LAUNDRY MUDROOM
• SEPARATE LIVING SPACES
• CLEAN DRY BASEMENT
• MINI BARN

Property features AI

Exterior

• Parking: Gravel parking
• Security: Smoke detector(s)
• Utilities: Public water; Municipal sewer connected; No solid waste service listed
• Home design: Single family residence; Residential property; Two levels
• Construction: Vinyl siding; Block foundation
• Exterior features: Covered patio/porch; Deck; Small barn/mini barn; Corner lot; Sidewalks; Street lights; Mature trees and small trees

Interior

• Kitchen: Electric cooktop; Electric oven; Dishwasher; Microwave; Pantry; Eat-in kitchen
• Bedrooms: Four bedrooms total — one on the main level and three on the upper level
• Flooring: Hardwood floors
• Bathrooms: One full bathroom with tub and shower
• Heating & cooling: Forced air heating (natural gas); No central air listed
• Interior features: Attic access; High ceilings; Hardwood floors; Eat-in kitchen; Pantry; Supplemental storage; Woodwork painted; Formal living room
• Laundry & utility: Laundry connections on the main level; Electric water heater

What this means for you Summary

Snapshot

• This is a 5-bed/1.0-bath single-family listed at $190k.

Deal economics

• At list price, monthly cash flow is $32 ($387/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 $159k (16.0% below list).
• Recommended offer: $159k (16.0% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 65/100 on livability (#341 in IN) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F, health & safety F.
• North Montgomery Community School Corporation (rural): math 47% / reading 53% proficiency, ranked #50 of 301 in IN (top 17%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: North Montgomery High School (math 32% / reading 62%, grade D-, #143 of 369 statewide, top 44%, 516 students, 34% FRL) — zoned schools at 34% FRL track the district average.
• Market conditions: 7 active listings in the ZIP; 52 units permitted in Montgomery County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $7k of equity ($1k loan paydown + $5k appreciation (2.8% local appreciation)).
• Montgomery County population projected to shrink 9% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (2.8% appreciation + 3.0% rent growth), your $53k cash investment doubles in ~7 years — after that, you're playing with house money.
• By year 6, paydown + projected appreciation supports a ~$35k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 123 days — a 12% lower offer ($167k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 24y ago; this cycle's ask has dropped $20k (10%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $26k; list at $190k implies a 630% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $159,446 (16.0% below list)

Questions for the listing agent

1. It's been on market 123 days. Have you received any prior offers? Is the seller open to a 16% concession, seller financing, or rate buy-down credit?
2. Built in 1900 — 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 F-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. 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: 0.84% ✗
• Cap rate: 6.50%
• Cash-on-cash: 0.73%
• DSCR: 1.03
• GRM: 9.9

CMA / ARV

• ARV (on-the-fly): $261,072
• Comps found: 3

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
100 W Walnut St	0.24mi	4/2.5 (-1)	2,206 (+6%)	8mo	$311,000	$141	60
119 W Washington St	0.28mi	4/2.0 (-1)	1,850 (-11%)	16mo	$135,000	$73	47
3908 N 830 W	0.56mi	4/3.0 (-1)	1,976 (-5%)	17mo	$249,900	$126	39

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

Projected returns pro-forma

2.76% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 7.5%
• Equity multiple: 1.42×
• Total profit: $22,533
• Equity at exit: $82,865

10-year hold

• IRR: 10.3%
• Equity multiple: 2.51×
• Total profit: $80,299
• Equity at exit: $125,778

Cash invested: $53,172 (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 47990

• Home prices YoY: 1.2%
• Active inventory: 7
• Price-to-rent: 9.9×

Monthly cashflow live

• Estimated rent: $1,594 medium
• Mortgage (P&I): −$996
• Tax from tax record: −$152 /mo · $1,828/yr
• Insurance: −$79
• HOA: −$0
• Vacancy / Maint / Mgmt: −$335
• Net cashflow: $32

Break-even live

Break-even rent $1,554

Max offer price $189,900

Occupancy floor 93%

Sensitivity live

Price	-10% $140	-5% $86	+0% $32	+5% $-21	+10% $-75
Rent	-10% $-94	-5% $-31	+0% $32	+5% $95	+10% $158
Rate	-1.0pp $128	-0.5pp $81	base $32	+0.5pp $-17	+1.0pp $-67

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: $47,475
• Closing costs: $5,697
• Reserves months: —
• Total cash needed: —

Listing history 32 events

1. 2026-06-21
   days on market $189,900 Active 123 DOM
2. 2026-06-19
   days on market $189,900 Active 121 DOM
3. 2026-06-18
   days on market $189,900 Active 120 DOM
4. 2026-06-17
   days on market $189,900 Active 119 DOM
5. 2026-06-16
   days on market $189,900 Active 118 DOM
6. 2026-06-15
   days on market $189,900 Active 117 DOM
7. 2026-06-14
   days on market $189,900 Active 115 DOM
8. 2026-06-13
   days on market $189,900 Active 114 DOM
9. 2026-06-10
   days on market $189,900 Active 112 DOM
10. 2026-06-09
    days on market $189,900 Active 111 DOM
11. 2026-06-08
    days on market $189,900 Active 110 DOM
12. 2026-06-07
    days on market $189,900 Active 109 DOM
13. 2026-06-05
    pricedays on market $189,900 Active 106 DOM
14. 2026-06-02
    days on market $199,900 Active 104 DOM
15. 2026-06-01
    days on market $199,900 Active 103 DOM
16. 2026-05-31
    days on market $199,900 Active 102 DOM
17. 2026-05-30
    days on market $199,900 Active 101 DOM
18. 2026-03-02
    price $199,900
19. 2026-01-22
    listed $209,900 Active
20. 2010-03-31
    historical
21. 2010-03-31
    soldstatus $26,000
22. 2009-11-11
    listed $36,900
23. 2009-08-06
    historical
24. 2008-11-24
    listed $38,900
25. 2008-08-29
    historical
26. 2008-02-08
    listed $45,000
27. 2007-12-12
    soldstatus $19,000
28. 2007-03-26
    listed $36,000
29. 2005-02-04
    soldstatus $69,255
30. 2004-05-19
    listed $67,900
31. 2002-10-28
    historical
32. 2002-04-29
    listed $69,900

ⓘ 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: $1,828 · $152/mo
• Projected year-2 tax: $1,828 · $152/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 FEMA zone X (unshaded) · 0% 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: $19,134
• − Mortgage interest: −$10,637
• − Property taxes: −$1,828
• − Insurance: −$950
• − Repairs & maintenance: −$1,531
• − Management: −$1,531
• − Depreciation: −$5,524
• Taxable loss: −$2,868
• Est. tax savings @ 24.0%: +$688
• After-tax cash flow: $1,075/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 Montgomery Community School Corporation
• NCES district ID: 1807900
• Math proficiency: 47% ▼ -1.00%
• Reading proficiency: 53% ▲ 3.00%
• Median HH income: $53,844
• Composite: 43.14/100
• National rank: #3076
• State rank: #50 of 301 in IN

Livability — Waynetown

• Score: 65/100
• State rank: #341
• US rank: #13119

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Waynetown, IN
• Population (ZIP): 1,374

Population outlook (Montgomery County) Hauer SSP2

• Today (2025): 37,893 people
• By 2030: 37,539 · -0.9%
• By 2040: 36,536 · -3.6%
• By 2050: 34,454 · -9.1%
• By 2075: 28,852 · -23.9%
• By 2100: 21,145 · -44.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (91%)
• Race & ethnicity: White 91% Two or more races 5% Hispanic / Latino 4%
• Common ancestry: Serbian 8% Slovak 1% Iranian 1%
• Foreign-born: 2% · Canada
• Languages at home: 93% English-only · Spanish 6% French/Haitian/Cajun 1%

Political lean MEDSL · Montgomery

• 2024 margin: Solid R (+48.2) · D 24.9% · R 73.2% · Other 1.9%
• 2008→2024 swing: -28.3pp toward R · 2008: -19.9pp · 2024: -48.2pp
• All cycles: 2024: R+48.2 2020: R+49.1 2016: R+50.9 2012: R+38.5 2008: R+19.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 2.76%
• Current HPI: 231.2375
• 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

+186.0% since first listed

15 events — show timeline

• 2026-03-02 Price Changed $199,900 MIBOR as Distributed by MLS Grid
• 2026-01-22 Listed $209,900 MIBOR as Distributed by MLS Grid
• 2010-03-31 Listing Removed — MIBOR as Distributed by MLS Grid
• 2010-03-31 Sold (MLS) $26,000 MIBOR as Distributed by MLS Grid
• 2009-11-11 Listed $36,900 MIBOR as Distributed by MLS Grid
• 2009-08-06 Listing Removed — MIBOR as Distributed by MLS Grid
• 2008-11-24 Listed $38,900 MIBOR as Distributed by MLS Grid
• 2008-08-29 Listing Removed — MIBOR as Distributed by MLS Grid
• 2008-02-08 Listed $45,000 MIBOR as Distributed by MLS Grid
• 2007-12-12 Sold (MLS) $19,000 MIBOR as Distributed by MLS Grid
• 2007-03-26 Listed $36,000 MIBOR as Distributed by MLS Grid
• 2005-02-04 Sold (MLS) $69,255 MIBOR as Distributed by MLS Grid
• 2004-05-19 Listed $67,900 MIBOR as Distributed by MLS Grid
• 2002-10-28 Listing Removed — MIBOR as Distributed by MLS Grid
• 2002-04-29 Listed $69,900 MIBOR as Distributed by MLS Grid

Property tax history

+4.7%/yr

Latest (2025): $1,828 · +8.8% YoY. Source: county tax records.