908 W 12th St · Marion, IN 46953

$20,000

3 bd · 1.5 ba · 1,584 sqft · SingleFamily public records · 38 Days on market

Built 1939

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Why this score? — see what drove the D 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 +15.0/30.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.7/10.0
• Appreciation +0.0/10.0

Listing remarks

The house itself will need to be torn down and has asbestos siding. The lot itself is worth more than the house.

Key facts

• Built 1939
• Listed 38 days

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $20k.

Deal economics

• At list price, monthly cash flow is $1k ($12k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $20k).
• Recommended offer: $19k (3.0% below list) — sets the bar for market timing.
• Cap rate 66.6% vs local median 8.7% in Marion — 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 65/100 on livability (#337 in IN) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: schools F, amenities F, commute F.
• Marion Community Schools (town): math 18% / reading 24% proficiency, ranked #277 of 301 in IN (top 92%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 67% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 112 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; 52 units permitted in Grant County in 2024 (8 in 5+ unit buildings).
• This rent runs 38% of the median local income ($46k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $138 of loan paydown is wiped out by about $600 of value loss. Plan a longer hold.
• Grant County population projected at -18% 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 $6k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 38 days — a 3% lower offer ($19k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1939 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $19,400 (3.0% below list)

Questions for the listing agent

1. It's been on market 38 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1939 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 7.24% ✓
• Cap rate: 66.65%
• Cash-on-cash: 215.56%
• DSCR: 10.59
• GRM: 1.2

CMA / ARV

• ARV (on-the-fly): $129,888
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
614 W 5th St	0.52mi	4/2.0 (+1)	1,574 (-1%)	0mo	$99,000	$63	68
617 W 7th St	0.37mi	3/2.0	1,718 (+8%)	4mo	$56,000	$33	63
712 S G St	0.30mi	3/1.0	1,728 (+9%)	8mo	$150,000	$87	62
1324 S Gallatin St	0.40mi	3/2.0	1,692 (+7%)	11mo	$165,000	$98	59
1108 W 6th St	0.43mi	3/1.5	1,784 (+13%)	2mo	$80,000	$45	58
1648 Mason Blvd	0.63mi	3/1.0	1,674 (+6%)	4mo	$76,380	$46	56
716 W 7th St	0.37mi	2/1.0 (-1)	1,409 (-11%)	3mo	$65,000	$46	54
1419 S Washington St	0.56mi	4/2.0 (+1)	1,664 (+5%)	9mo	$35,000	$21	51
1134 W 3rd St	0.63mi	4/1.5 (+1)	1,702 (+7%)	12mo	$139,000	$82	43
1703 W 13th St	0.66mi	3/2.0	1,726 (+9%)	13mo	$205,000	$119	42
1515 W 4th St	0.67mi	3/1.0	1,361 (-14%)	3mo	$161,500	$119	40
2306 S Selby St	0.70mi	4/2.5 (+1)	1,446 (-9%)	8mo	$195,000	$135	37

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: —
• Equity multiple: 11.87×
• Total profit: $60,849
• Equity at exit: $2,982

10-year hold

• IRR: —
• Equity multiple: 25.21×
• Total profit: $135,571
• Equity at exit: $1,729

Cash invested: $5,600 (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 46953

• Home prices YoY: -23.4%
• Active inventory: 112
• Price-to-rent: 1.2×

Monthly cashflow live

• Estimated rent: $1,448 medium
• Mortgage (P&I): −$105
• Tax from tax record: −$24 /mo · $294/yr
• Insurance: −$8
• HOA: −$0
• Vacancy / Maint / Mgmt: −$304
• Net cashflow: $1,006

Break-even live

Break-even rent $174

Max offer price $20,000

Occupancy floor 26%

Sensitivity live

Price	-10% $1,017	-5% $1,012	+0% $1,006	+5% $1,000	+10% $995
Rent	-10% $892	-5% $949	+0% $1,006	+5% $1,063	+10% $1,120
Rate	-1.0pp $1,016	-0.5pp $1,011	base $1,006	+0.5pp $1,001	+1.0pp $995

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: $5,000
• Closing costs: $600
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2145 W 2nd St Marion, IN	3.0	1.5	1377	$1,650	$1.20	44d	1	1.32mi
703 E 28th St Marion, IN	2.0	1.0	1085	$1,200	$1.11	44d	1	1.33mi
511 W Buckingham Dr Marion, IN	3.0	2.0	1942	$2,000	$1.03	44d	1	1.50mi

Listing history 15 events

1. 2026-06-19
   days on market $20,000 Active 38 DOM
2. 2026-06-18
   days on market $20,000 Active 37 DOM
3. 2026-06-17
   days on market $20,000 Active 36 DOM
4. 2026-06-16
   days on market $20,000 Active 35 DOM
5. 2026-06-15
   days on market $20,000 Active 34 DOM
6. 2026-06-14
   days on market $20,000 Active 32 DOM
7. 2026-06-12
   days on market $20,000 Active 31 DOM
8. 2026-06-09
   days on market $20,000 Active 28 DOM
9. 2026-06-08
   days on market $20,000 Active 27 DOM
10. 2026-06-07
    days on market $20,000 Active 26 DOM
11. 2026-06-02
    days on market $20,000 Active 21 DOM
12. 2026-06-01
    days on market $20,000 Active 20 DOM
13. 2026-05-31
    days on market $20,000 Active 19 DOM
14. 2026-05-30
    days on market $20,000 Active 18 DOM
15. 2026-05-12
    listed $20,000 Active 112-char remark

ⓘ 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: $294 · $24/mo
• Projected year-2 tax: $294 · $24/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 ≥100°F today · 18 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $17,372
• − Mortgage interest: −$1,120
• − Property taxes: −$294
• − Insurance: −$100
• − Repairs & maintenance: −$1,390
• − Management: −$1,390
• − Depreciation: −$582
• Taxable income: $12,496
• Est. tax owed @ 24.0%: −$2,999
• After-tax cash flow: $9,072/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: Marion Community Schools
• NCES district ID: 1806390
• Math proficiency: 18% ▼ -9.00%
• Reading proficiency: 24% ▼ -6.00%
• Median HH income: $33,415
• Composite: 17.13/100
• National rank: #9115
• State rank: #277 of 301 in IN

Livability — Marion

• Score: 65/100
• State rank: #337
• US rank: #13006

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Marion, IN
• County: Grant County · 41,561 people
• City population: 41,561
• Metro: Marion, IN
• Population (ZIP): 23,372
• Household income: $46,288
• Rent vs Own: 32.2% rent · 67.8% own
• Severe rent burden: 597.0

Population outlook (Grant County) Hauer SSP2

• Today (2025): 64,394 people
• By 2030: 62,145 · -3.5%
• By 2040: 57,252 · -11.1%
• By 2050: 52,968 · -17.7%
• By 2075: 45,986 · -28.6%
• By 2100: 39,400 · -38.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (77%)
• Race & ethnicity: White 77% Black 10% Two or more races 9% Hispanic / Latino 6%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Italian 3% Iranian 1% Slovak 1%
• Foreign-born: 2% · Canada
• Languages at home: 96% English-only · Spanish 3%

Political lean MEDSL · Grant

• 2024 margin: Solid R (+41.8) · D 28.2% · R 70.0% · Other 1.9%
• 2008→2024 swing: -28.7pp toward R · 2008: -13.1pp · 2024: -41.8pp
• All cycles: 2024: R+41.8 2020: R+38.8 2016: R+39.5 2012: R+22.0 2008: R+13.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -52.47%
• Current HPI: 171.7246
• Rent YoY: —
• Metro: Marion, 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

1 event — show timeline

• 2026-05-12 Listed $20,000 FSBO.com

Property tax history

-9.2%/yr

Latest (2024): $294 · -1.1% YoY. Source: county tax records.