2753 N Mcnutts Pl

St. Mary of the Woods, IN 47885

$89,900B

4 bd · 1.5 ba · 1,755 sqft · Built 1947 · SingleFamily · Pending · 14 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,062/mo
• Mortgage (P&I): −$471
• Tax + insurance: −$88
• HOA: −$0
• Vac / Maint / Mgmt: −$223
• Net cashflow: $280/mo
• Annual: $3,357/yr
• Cap rate: 10.03%
• Cash-on-cash: 13.34%
• DSCR: 1.59
• 1% rule: 1.18%
• Cash to close: $25,172

Investor read

• This is a 4-bed/1.5-bath single-family listed at $90k.
• At list price, monthly cash flow is $280 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $90k).
• Only 14 days on market — expect competitive offers; lowballing is unlikely to land.
• Local home prices are declining (-3.0%/yr); year-one equity from $622 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Location reads: area grade B — affects rentability + tenant quality, not the cash-flow math above.
• Vigo County School Corporation (urban): math 32% / reading 37% proficiency, ranked #202 of 301 in IN (top 67%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Fayette Elementary School (math 62% / reading 52%, grade C+, #172 of 994 statewide, top 18%, 270 students, 51% FRL); West Vigo Middle School (math 15% / reading 27%, grade F, #270 of 330 statewide, top 82%, 387 students, 60% FRL); West Vigo High School (math 27% / reading 62%, grade F, #169 of 369 statewide, top 51%, 534 students, 53% FRL).
• Watch-outs: built in 1947 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 44 active listings in the ZIP; 60 units permitted in Vigo County in 2024 (0 in 5+ unit buildings).
• Vigo County population projected to shrink 5% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $25k cash investment doubles in ~9 years — after that, you're playing with house money.

Questions for listing agent

• Built in 1947 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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.
• 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.
• 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.