89 Mason St · East Oolitic, IN 47421

$55,549

3 bd · 1.5 ba · 1,248 sqft · SingleFamily public records · 388 Days on market

Built 1930 0.33 ac lot $45/sqft · 67% below area

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• 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

Property is located in Oolitic, Indiana. Assessor data sheet states Bedford. 3 Bedroom, 1.5 Baths, living room, kitchen, dining room & family room - all on main level. Laundry room included in Master Bedroom. Half Bath is accessible in 2nd bedroom. 1st Bathroom is 9 x 5. 2nd Bathroom is 8 x 5. Back Deck is 11 x 12. Side Porch is 9 x 10. Lot size is 150 x 97 or . 334 Acre Subdivision is: E O Cent aka East Oolitic

Key facts

• Back deck
• Side porch
• 0.33 acre lot

Tags

• ACCESSIBLE IN 2ND BEDROOM
• BACK DECK
• SIDE PORCH

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $56k.

Deal economics

• At list price, monthly cash flow is $658 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $56k).
• Recommended offer: $49k (12.0% 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.
• 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.
• Market conditions: 158 active listings in the ZIP; 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 $384 of loan paydown is wiped out by about $2k 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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $16k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 388 days — a 12% lower offer ($49k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 12y ago; this cycle's ask has dropped $3k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $14k; list at $56k implies a 288% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1930 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $48,883 (12.0% below list)

Questions for the listing agent

1. It's been on market 388 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 1930 — 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. 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.
6. 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.
7. 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: 2.33% ✓
• Cap rate: 20.51%
• Cash-on-cash: 50.77%
• DSCR: 3.26
• GRM: 3.6

CMA / ARV

• ARV (median comp): $167,294
• List price: $55,549
• Delta: -66.80%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
602 Lafayette Ave	0.62mi	3/1.0	1,222 (-2%)	24mo	$165,000	$135	46

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: 48.6%
• Equity multiple: 3.12×
• Total profit: $32,916
• Equity at exit: $8,283

10-year hold

• IRR: 54.1%
• Equity multiple: 6.31×
• Total profit: $82,658
• Equity at exit: $4,803

Cash invested: $15,554 (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: 3.6×

Monthly cashflow live

• Estimated rent: $1,294 medium
• Mortgage (P&I): −$291
• Tax from tax record: −$50 /mo · $599/yr
• Insurance: −$23
• HOA: −$0
• Vacancy / Maint / Mgmt: −$272
• Net cashflow: $658

Break-even live

Break-even rent $461

Max offer price $55,549

Occupancy floor 44%

Sensitivity live

Price	-10% $689	-5% $674	+0% $658	+5% $642	+10% $627
Rent	-10% $556	-5% $607	+0% $658	+5% $709	+10% $760
Rate	-1.0pp $686	-0.5pp $672	base $658	+0.5pp $644	+1.0pp $629

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: $13,887
• Closing costs: $1,666
• Reserves months: —
• Total cash needed: —

Listing history 22 events

1. 2026-06-19
   days on market $55,549 Active 388 DOM
2. 2026-06-18
   days on market $55,549 Active 387 DOM
3. 2026-06-17
   days on market $55,549 Active 386 DOM
4. 2026-06-16
   days on market $55,549 Active 385 DOM
5. 2026-06-15
   days on market $55,549 Active 384 DOM
6. 2026-06-14
   days on market $55,549 Active 382 DOM
7. 2026-06-13
   days on market $55,549 Active 381 DOM
8. 2026-06-10
   days on market $55,549 Active 379 DOM
9. 2026-06-09
   days on market $55,549 Active 378 DOM
10. 2026-06-08
    days on market $55,549 Active 377 DOM
11. 2026-06-07
    days on market $55,549 Active 376 DOM
12. 2026-06-05
    days on market $55,549 Active 373 DOM
13. 2026-06-03
    days on market $55,549 Active 372 DOM
14. 2026-06-02
    days on market $55,549 Active 371 DOM
15. 2026-06-01
    days on market $55,549 Active 370 DOM
16. 2026-05-31
    days on market $55,549 Active 369 DOM
17. 2026-05-30
    days on market $55,549 Active 368 DOM
18. 2025-12-22
    price $55,549 424-char remark

    Show marketing remark (424 chars)

    Property is located in Oolitic, Indiana. Assessor data sheet states Bedford. 3 Bedroom, 1.5 Baths, living room, kitchen, dining room & family room - all on main level. Laundry room included in Master Bedroom. Half Bath is accessible in 2nd bedroom. 1st Bathroom is 9 x 5. 2nd Bathroom is 8 x 5. Back Deck is 11 x 12. Side Porch is 9 x 10. Lot size is 150 x 97 or . 334 Acre Subdivision is: E O Cent aka East Oolitic

19. 2025-09-08
    price $56,050 424-char remark

    Show marketing remark (424 chars)

    Property is located in Oolitic, Indiana. Assessor data sheet states Bedford. 3 Bedroom, 1.5 Baths, living room, kitchen, dining room & family room - all on main level. Laundry room included in Master Bedroom. Half Bath is accessible in 2nd bedroom. 1st Bathroom is 9 x 5. 2nd Bathroom is 8 x 5. Back Deck is 11 x 12. Side Porch is 9 x 10. Lot size is 150 x 97 or . 334 Acre Subdivision is: E O Cent aka East Oolitic

20. 2025-05-28
    listed $59,000 Active 424-char remark

    Show marketing remark (424 chars)

    Property is located in Oolitic, Indiana. Assessor data sheet states Bedford. 3 Bedroom, 1.5 Baths, living room, kitchen, dining room & family room - all on main level. Laundry room included in Master Bedroom. Half Bath is accessible in 2nd bedroom. 1st Bathroom is 9 x 5. 2nd Bathroom is 8 x 5. Back Deck is 11 x 12. Side Porch is 9 x 10. Lot size is 150 x 97 or . 334 Acre Subdivision is: E O Cent aka East Oolitic

21. 2017-09-15
    soldstatus $14,332
22. 2014-05-20
    listed $27,900

ⓘ 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: $599 · $50/mo
• Projected year-2 tax: $599 · $50/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 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,530
• − Mortgage interest: −$3,112
• − Property taxes: −$599
• − Insurance: −$278
• − Repairs & maintenance: −$1,242
• − Management: −$1,242
• − Depreciation: −$1,616
• Taxable income: $7,441
• Est. tax owed @ 24.0%: −$1,786
• After-tax cash flow: $6,110/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 — East Oolitic

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

Census & demographics

• Census place: East Oolitic, IN
• County: Lawrence County · 27,599 people
• 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

+99.1% since first listed

5 events — show timeline

• 2025-12-22 Price Changed $55,549 IRMLS
• 2025-09-08 Price Changed $56,050 IRMLS
• 2025-05-28 Listed $59,000 IRMLS
• 2017-09-15 Sold (Public Records) $14,332 Public Records
• 2014-05-20 Listed $27,900 IRMLS

Property tax history

+10.7%/yr

Latest (2025): $599 · +3.1% YoY. Source: county tax records.