705 S Grace Ave · Crawfordsville, IN 47933

$119,900

3 bd · 1.5 ba · 1,232 sqft · SingleFamily public records · 185 Days on market

Built 1948 9,757 sqft lot Est $187k · 36% under ↓ 17% 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 +22.6/30.0
• ARV discount +15.0/15.0
• DSCR +7.3/10.0
• 1% rule +5.9/10.0
• Livability +3.6/5.0
• Rent growth +3.3/5.0
• Schools +2.5/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Key facts

• 9,757 sq ft lot
• 2 garage spots
• Built 1948

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $120k.

Deal economics

• At list price, monthly cash flow is $205 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $120k).
• Recommended offer: $106k (12.0% below list) — sets the bar for market timing.
• Cap rate 8.3% vs local median 3.5% in Crawfordsville — 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 72/100 on livability (#118 in IN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A; Watch: schools D+, commute D+, amenities F.
• Crawfordsville Community Schools (town): math 27% / reading 32% proficiency, ranked #247 of 301 in IN (top 82%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: Rents rising (+3.3%/yr); 203 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); 52 units permitted in Montgomery County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $829 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Montgomery County population projected to shrink 9% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.

Negotiation context

• It's been on market 185 days — a 12% lower offer ($106k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $25k (17%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1948 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $105,512 (12.0% below list)

Questions for the listing agent

1. It's been on market 185 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1948 — 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. 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: 1.09% ✓
• Cap rate: 8.35%
• Cash-on-cash: 7.33%
• DSCR: 1.33
• GRM: 7.6

CMA / ARV

• ARV (on-the-fly): $187,264
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
705 S Grace Ave	0.00mi	3/1.5	1,232 (0%)	1mo	$115,000	$93	100
1802 E College St	0.19mi	3/2.0	1,176 (-4%)	4mo	$220,000	$187	78
1919 Fremont St	0.22mi	3/2.0	1,156 (-6%)	3mo	$200,000	$173	75
504 Wilson Ave	0.21mi	3/2.0	1,344 (+9%)	3mo	$215,000	$160	71
706 Mill St	0.60mi	3/1.5	1,222 (-1%)	4mo	$152,000	$124	67
1906 Traction Rd	0.41mi	2/2.0 (-1)	1,281 (+4%)	4mo	$190,000	$148	64
410 Spann Ave	0.18mi	3/1.0	1,088 (-12%)	12mo	$165,000	$152	60
1011 Chapel Ave	0.52mi	3/1.0	1,340 (+9%)	4mo	$78,000	$58	56
435 Greenacres Dr	0.67mi	3/2.0	1,200 (-3%)	12mo	$225,000	$188	53
325 Fairlane Dr	0.66mi	3/2.0	1,324 (+8%)	5mo	$197,000	$149	50
153 N Pleasant Run	0.69mi	3/1.5	1,364 (+11%)	2mo	$225,000	$165	48
907 Tuttle Ave	0.58mi	4/1.0 (+1)	1,084 (-12%)	4mo	$148,000	$137	43

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 · 3.28% rent growth · sell at horizon

5-year hold

• IRR: -4.8%
• Equity multiple: 0.82×
• Total profit: $-5,974
• Equity at exit: $17,877

10-year hold

• IRR: 5.3%
• Equity multiple: 1.39×
• Total profit: $13,228
• Equity at exit: $10,367

Cash invested: $33,572 (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 47933

• Home prices YoY: -27.1%
• Rents YoY: 3.3%
• Active inventory: 203
• Price-to-rent: 7.6×

Monthly cashflow live

• Estimated rent: $1,309 medium
• Mortgage (P&I): −$629
• Tax est. 1.5%: −$150 /mo · $1,798/yr
• Insurance: −$50
• HOA: −$0
• Vacancy / Maint / Mgmt: −$275
• Net cashflow: $205

Break-even live

Break-even rent $1,049

Max offer price $119,900

Occupancy floor 79%

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: $29,975
• Closing costs: $3,597
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
200 Knoll Cir Crawfordsville, IN	1.0–2.0	1.0–2.0	821	$1,250	$1.52	13d	9	0.26mi
103 Aspen Dr Crawfordsville, IN	3.0	2.0	1213	$1,525	$1.26	20d	1	1.03mi
102 Aspen Dr Crawfordsville, IN	2.0	2.0	1023	$1,225	$1.20	20d	1	1.06mi
100 Aspen Dr Crawfordsville, IN	1.0–3.0	1.0–2.0	1012	$1,525	$1.51	13d	5	1.08mi

Listing history 6 events

1. 2026-03-30
   status Pending
2. 2026-03-30
   status Pending
3. 2026-01-26
   price $119,900
4. 2026-01-26
   price $119,900
5. 2025-09-26
   listed $144,900 Active
6. 2025-09-26
   listed $144,900 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

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 ≥101°F today · 18 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: $15,702
• − Mortgage interest: −$6,716
• − Property taxes: −$1,798
• − Insurance: −$600
• − Repairs & maintenance: −$1,256
• − Management: −$1,256
• − Depreciation: −$3,488
• Taxable income: $588
• Est. tax owed @ 24.0%: −$141
• After-tax cash flow: $2,321/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: Crawfordsville Community Schools
• NCES district ID: 1802460
• Math proficiency: 27% ▼ -8.00%
• Reading proficiency: 32% ▼ -6.00%
• Median HH income: $39,087
• Composite: 24.73/100
• National rank: #7606
• State rank: #247 of 301 in IN

Livability — Crawfordsville

• Score: 72/100
• State rank: #118
• US rank: #6376

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Crawfordsville, IN
• County: Montgomery County · 28,357 people
• City population: 28,357
• Metro: Crawfordsville, IN
• Population (ZIP): 28,357
• Household income: $68,130
• Rent vs Own: 21.8% rent · 78.2% own
• Severe rent burden: 464.0

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 (88%)
• Race & ethnicity: White 88% Hispanic / Latino 7% Two or more races 7%
• Hispanic origin (detail): Mexican 5% Puerto Rican 2%
• Common ancestry: Slovak 2% Lithuanian 2% Romanian 2%
• Foreign-born: 4% · Canada
• Languages at home: 93% English-only · Spanish 6%

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: ▼ -78.91%
• Current HPI: 211.6864
• Rent YoY: ▲ 3.28%
• Metro: Crawfordsville, 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

-17.3% since first listed

6 events — show timeline

• 2026-03-30 Pending — MIBOR as Distributed by MLS Grid
• 2026-03-30 Pending — IRMLS
• 2026-01-26 Price Changed $119,900 IRMLS
• 2026-01-26 Price Changed $119,900 MIBOR as Distributed by MLS Grid
• 2025-09-26 Listed $144,900 IRMLS
• 2025-09-26 Listed $144,900 MIBOR as Distributed by MLS Grid

Property tax history

-7.0%/yr

Latest (2025): $5 · -41.0% YoY. Source: county tax records.