3052 N Gary St #132 · Mount Summit, IN 47362

$76,999

3 bd · 2.0 ba · 1,216 sqft · SingleFamily · 72 Days on market

Built 2026 Good condition $63/sqft · 59% below area ↓ 11% 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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Condition / age +4.0/5.0
• Rent growth +3.6/5.0
• Livability +3.3/5.0
• Schools +2.4/10.0
• Appreciation +0.0/10.0

Key facts

• Built 2026
• Listed 71 days

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $77k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $382 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $77k).
• Recommended offer: $72k (6.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 66/100 on livability (#299 in IN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, employment A-; Watch: health & safety C-, schools F, amenities F.
• Blue River Valley Schools (rural): math 22% / reading 32% proficiency, ranked #255 of 301 in IN (top 85%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: Rents rising fast (+4.6%/yr); 214 active listings in the ZIP; 47 units permitted in Henry County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $532 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Henry County population projected at -12% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 4.6% 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 72 days — a 6% lower offer ($72k) is reasonable based on typical stale-listing flexibility.

Recommended offer $72,379 (6.0% below list)

Questions for the listing agent

1. It's been on market 72 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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. 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: 1.50% ✓
• Cap rate: 12.24%
• Cash-on-cash: 21.24%
• DSCR: 1.95
• GRM: 5.5

CMA / ARV

• ARV (median comp): $186,264
• List price: $76,999
• Delta: -58.66%
• Verdict: UNDERPRICED
• Comps: 2 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 4.59% rent growth · sell at horizon

5-year hold

• IRR: 15.5%
• Equity multiple: 1.64×
• Total profit: $13,724
• Equity at exit: $11,481

10-year hold

• IRR: 25.4%
• Equity multiple: 3.38×
• Total profit: $51,285
• Equity at exit: $6,657

Cash invested: $21,560 (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 47362

• Home prices YoY: -16.0%
• Rents YoY: 4.6%
• Active inventory: 214
• Price-to-rent: 5.5×

Monthly cashflow live

• Estimated rent: $1,157 medium
• Mortgage (P&I): −$404
• Tax est. 1.5%: −$96 /mo · $1,155/yr
• Insurance: −$32
• HOA: −$0
• Vacancy / Maint / Mgmt: −$243
• Net cashflow: $382

Break-even live

Break-even rent $674

Max offer price $76,999

Occupancy floor 62%

Sensitivity live

Price	-10% $435	-5% $408	+0% $382	+5% $355	+10% $328
Rent	-10% $290	-5% $336	+0% $382	+5% $427	+10% $473
Rate	-1.0pp $420	-0.5pp $401	base $382	+0.5pp $362	+1.0pp $341

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: $19,250
• Closing costs: $2,310
• Reserves months: —
• Total cash needed: —

Listing history 17 events

1. 2026-06-19
   days on market $76,999 Active 72 DOM
2. 2026-06-18
   days on market $76,999 Active 71 DOM
3. 2026-06-17
   days on market $76,999 Active 70 DOM
4. 2026-06-16
   days on market $76,999 Active 69 DOM
5. 2026-06-15
   days on market $76,999 Active 68 DOM
6. 2026-06-14
   days on market $76,999 Active 66 DOM
7. 2026-06-12
   pricedays on market $76,999 Active 65 DOM
8. 2026-06-09
   days on market $64,999 Active 62 DOM
9. 2026-06-08
   days on market $64,999 Active 61 DOM
10. 2026-06-07
    days on market $64,999 Active 60 DOM
11. 2026-06-05
    days on market $64,999 Active 57 DOM
12. 2026-06-02
    days on market $64,999 Active 55 DOM
13. 2026-06-01
    days on market $64,999 Active 54 DOM
14. 2026-05-31
    days on market $64,999 Active 53 DOM
15. 2026-05-30
    days on market $64,999 Active 52 DOM
16. 2026-04-23
    price $64,999
17. 2026-04-08
    listed $72,999 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 ≥100°F today · 18 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $13,879
• − Mortgage interest: −$4,313
• − Property taxes: −$1,155
• − Insurance: −$385
• − Repairs & maintenance: −$1,110
• − Management: −$1,110
• − Depreciation: −$2,240
• Taxable income: $3,566
• Est. tax owed @ 24.0%: −$856
• After-tax cash flow: $3,723/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.

Condition & rehab AI · 12 photos

Good 80/100 Cosmetic rehab

This home is in excellent condition with modern updates and a good curb appeal, making it a great investment.

Value-add opportunities

• Both Painting exterior siding — Enhances curb appeal and value
• Both Landscaping improvements — Boosts curb appeal and rental value
• Both Add a small front porch — Improves curb appeal and rental value

Renovation cost estimate screening

Value-add ROI direction

• Both Painting exterior siding — Enhances curb appeal and value ↑
• Both Landscaping improvements — Boosts curb appeal and rental value ↑
• Both Add a small front porch — Improves curb appeal and rental value ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Blue River Valley Schools
• NCES district ID: 1800660
• Math proficiency: 22% ▼ -14.00%
• Reading proficiency: 32% ▼ -11.00%
• Median HH income: $51,634
• Composite: 23.84/100
• National rank: #7803
• State rank: #255 of 301 in IN

Livability — Mount Summit

• Score: 66/100
• State rank: #299
• US rank: #11986

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Henry County · 29,337 people
• City population: 268
• Metro: New Castle, IN
• Population (ZIP): 29,337
• Household income: $60,258
• Rent vs Own: 27.6% rent · 72.4% own
• Severe rent burden: 545.0

Population outlook (Henry County) Hauer SSP2

• Today (2025): 48,028 people
• By 2030: 47,125 · -1.9%
• By 2040: 44,820 · -6.7%
• By 2050: 42,207 · -12.1%
• By 2075: 35,814 · -25.4%
• By 2100: 26,779 · -44.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (90%)
• Race & ethnicity: White 90% Two or more races 3% Black 3% Hispanic / Latino 3%
• Common ancestry: Italian 2% Slovak 1% Lithuanian 1%
• Foreign-born: 2% · Canada
• Languages at home: 97% English-only · Spanish 2%

Political lean MEDSL · Henry

• 2024 margin: Solid R (+47.7) · D 25.3% · R 73.0% · Other 1.7%
• 2008→2024 swing: -43.8pp toward R · 2008: -3.9pp · 2024: -47.7pp
• All cycles: 2024: R+47.7 2020: R+45.2 2016: R+43.7 2012: R+17.0 2008: R+3.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -43.70%
• Current HPI: 228.8885
• Rent YoY: ▲ 4.59%
• Metro: New Castle, 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

-11.0% since first listed

2 events — show timeline

• 2026-04-23 Price Changed $64,999 Zillow
• 2026-04-08 Listed $72,999 Zillow