2621 S Alexander St · Blocher, IN 47138

$79,999

3 bd · 1.0 ba · 1,030 sqft · SingleFamily public records · 19 Days on market

Built 1950 5,227 sqft lot $78/sqft · 41% below area Est $137k · 41% under ↓ 43% since listing

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

Listing remarks MLS

Welcome to the Pioneer Town. 1.5 story home with 2-3 bedrooms. Eat-in kitchen, living room, 1 full bath, utility room. 1 car detached garage w/ lean to. Covered front porch to enjoy your morning coffee. All sitting on 7 lots that equal 3.326 acres. Being sold AS IS.

Key facts

• 5,227 sq ft lot
• Garage
• Built 1950

Property features AI

Finance

• Other: Lot size approximately 0.12 acres

Exterior

• Parking: Detached garage (1 car)
• Utilities: Public water (connected); Public sewer
• Home design: Residential zoning; Resale property
• Construction: Crawlspace foundation; 1,030 sq. ft. above-grade finished area
• Exterior features: Barn(s); Detached garage(s); Shed(s)

Interior

• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating
• Interior features: Crawl space

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $80k.

Deal economics

• At list price, monthly cash flow is $436 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $80k).
• Recommended offer: $79k (1.5% below list) — sets the bar for market timing.

Location & tenants

• Location reads: area grade B — affects rentability + tenant quality, not the cash-flow math above.
• Scott County School District 2 (town): math 33% / reading 43% proficiency, ranked #166 of 301 in IN (top 55%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 28 active listings in the ZIP; 73 units permitted in Scott County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $553 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Scott County population projected at -23% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $22k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 19 days — a 2% lower offer ($79k) 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 1950 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $78,799 (1.5% below list)

Questions for the listing agent

1. Built in 1950 — 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: 1.53% ✓
• Cap rate: 12.83%
• Cash-on-cash: 23.36%
• DSCR: 2.04
• GRM: 5.4

CMA / ARV

• ARV (median comp): $136,617
• List price: $79,999
• Delta: -41.44%
• Verdict: UNDERPRICED
• Comps: 6 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 16.4%
• Equity multiple: 1.66×
• Total profit: $14,809
• Equity at exit: $11,928

10-year hold

• IRR: 25.0%
• Equity multiple: 3.17×
• Total profit: $48,671
• Equity at exit: $6,917

Cash invested: $22,400 (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 47138

• Home prices YoY: -5.7%
• Active inventory: 28
• Price-to-rent: 5.4×

Monthly cashflow live

• Estimated rent: $1,225 medium
• Mortgage (P&I): −$420
• Tax from tax record: −$79 /mo · $944/yr
• Insurance: −$33
• HOA: −$0
• Vacancy / Maint / Mgmt: −$257
• Net cashflow: $436

Break-even live

Break-even rent $673

Max offer price $79,999

Occupancy floor 59%

Sensitivity live

Price	-10% $481	-5% $459	+0% $436	+5% $413	+10% $391
Rent	-10% $339	-5% $388	+0% $436	+5% $484	+10% $533
Rate	-1.0pp $476	-0.5pp $456	base $436	+0.5pp $415	+1.0pp $394

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: $20,000
• Closing costs: $2,400
• Reserves months: —
• Total cash needed: —

Listing history 21 events

1. 2026-06-21
   days on market $79,999 Active 19 DOM
2. 2026-06-18
   days on market $79,999 Active 17 DOM
3. 2026-06-17
   days on market $79,999 Active 16 DOM
4. 2026-06-16
   days on market $79,999 Active 15 DOM
5. 2026-06-15
   days on market $79,999 Active 14 DOM
6. 2026-06-13
   days on market $79,999 Active 12 DOM
7. 2026-06-12
   days on market $79,999 Active 11 DOM
8. 2026-06-09
   days on market $79,999 Active 8 DOM
9. 2026-06-08
   days on market $79,999 Active 7 DOM
10. 2026-06-07
    days on market $79,999 Active 6 DOM
11. 2026-06-07
    days on market $79,999 Active 5 DOM
12. 2026-06-04
    days on market $79,999 Active 2 DOM
13. 2026-06-01
    remarks 106-char remark
14. 2026-06-01
    days on marketlisting id $79,999 Active 1 DOM
15. 2026-03-23
    listed $89,999 Active 63-char remark
16. 2025-12-15
    soldstatus $100,000 Closed 266-char remark

    Show marketing remark (266 chars)

    Welcome to the Pioneer Town. 1.5 story home with 2-3 bedrooms. Eat-in kitchen, living room, 1 full bath, utility room. 1 car detached garage w/ lean to. Covered front porch to enjoy your morning coffee. All sitting on 7 lots that equal 3.326 acres. Being sold AS IS.

17. 2025-11-07
    historical 266-char remark

    Show marketing remark (266 chars)

    Welcome to the Pioneer Town. 1.5 story home with 2-3 bedrooms. Eat-in kitchen, living room, 1 full bath, utility room. 1 car detached garage w/ lean to. Covered front porch to enjoy your morning coffee. All sitting on 7 lots that equal 3.326 acres. Being sold AS IS.

18. 2025-11-04
    price $104,900 266-char remark

    Show marketing remark (266 chars)

    Welcome to the Pioneer Town. 1.5 story home with 2-3 bedrooms. Eat-in kitchen, living room, 1 full bath, utility room. 1 car detached garage w/ lean to. Covered front porch to enjoy your morning coffee. All sitting on 7 lots that equal 3.326 acres. Being sold AS IS.

19. 2025-10-20
    price $112,900 266-char remark

    Show marketing remark (266 chars)

    Welcome to the Pioneer Town. 1.5 story home with 2-3 bedrooms. Eat-in kitchen, living room, 1 full bath, utility room. 1 car detached garage w/ lean to. Covered front porch to enjoy your morning coffee. All sitting on 7 lots that equal 3.326 acres. Being sold AS IS.

20. 2025-10-07
    price $135,000 266-char remark

    Show marketing remark (266 chars)

    Welcome to the Pioneer Town. 1.5 story home with 2-3 bedrooms. Eat-in kitchen, living room, 1 full bath, utility room. 1 car detached garage w/ lean to. Covered front porch to enjoy your morning coffee. All sitting on 7 lots that equal 3.326 acres. Being sold AS IS.

21. 2025-09-23
    listed $139,900 Active 266-char remark

    Show marketing remark (266 chars)

    Welcome to the Pioneer Town. 1.5 story home with 2-3 bedrooms. Eat-in kitchen, living room, 1 full bath, utility room. 1 car detached garage w/ lean to. Covered front porch to enjoy your morning coffee. All sitting on 7 lots that equal 3.326 acres. Being sold AS IS.

ⓘ 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: $944 · $79/mo
• Projected year-2 tax: $944 · $79/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 3/10 Moderate
• 🌡 Heat 4/10 Moderate 7 d/yr ≥104°F today · 19 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: $14,696
• − Mortgage interest: −$4,481
• − Property taxes: −$944
• − Insurance: −$400
• − Repairs & maintenance: −$1,176
• − Management: −$1,176
• − Depreciation: −$2,327
• Taxable income: $4,192
• Est. tax owed @ 24.0%: −$1,006
• After-tax cash flow: $4,225/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: Scott County School District 2
• NCES district ID: 1810020
• Math proficiency: 33% ▼ -10.00%
• Reading proficiency: 43% ▼ -6.00%
• Median HH income: $45,529
• Composite: 32.37/100
• National rank: #5734
• State rank: #166 of 301 in IN

Livability — Blocher

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• Population (ZIP): 4,646

Population outlook (Scott County) Hauer SSP2

• Today (2025): 22,525 people
• By 2030: 21,609 · -4.1%
• By 2040: 19,536 · -13.3%
• By 2050: 17,370 · -22.9%
• By 2075: 12,862 · -42.9%
• By 2100: 9,340 · -58.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (95%)
• Race & ethnicity: White 95% Two or more races 4%
• Common ancestry: Serbian 3% Slovak 1% Italian 1%
• Foreign-born: 0%

Political lean MEDSL · Scott

• 2024 margin: Solid R (+51.5) · D 23.4% · R 74.9% · Other 1.6%
• 2008→2024 swing: -49.5pp toward R · 2008: -2.0pp · 2024: -51.5pp
• All cycles: 2024: R+51.5 2020: R+45.6 2016: R+37.9 2012: R+6.2 2008: R+2.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -16.26%
• Current HPI: 270.3619
• 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

-42.8% since first listed

9 events — show timeline

• 2026-06-01 Listed $79,999 SIRA
• 2026-05-27 Price Changed $79,999 SIRA
• 2026-05-21 Price Changed $84,999 SIRA
• 2025-12-15 Sold (MLS) $100,000 SIRA
• 2025-11-07 Delisted — SIRA
• 2025-11-04 Price Changed $104,900 SIRA
• 2025-10-20 Price Changed $112,900 SIRA
• 2025-10-07 Price Changed $135,000 SIRA
• 2025-09-23 Listed $139,900 SIRA

Property tax history

+0.3%/yr

Latest (2024): $944 · +0.2% YoY. Source: county tax records.