411 Matilda St · Elnora, IN 47529

$79,900

2 bd · 1.0 ba · 856 sqft · SingleFamily public records · 65 Days on market

Built 1953 4,356 sqft lot ↓ 10% 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 +25.3/30.0
• DSCR +8.3/10.0
• Appreciation +8.3/10.0
• ARV discount +7.5/15.0
• 1% rule +5.8/10.0
• Schools +3.3/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

Great investment property or starter home in Elnora Indiana! Home features paved driveway, covered parking and has some valuable upgrades already, just needs your finishing touches. Update! Now has a brand new mini split unit for heat and a/c.

Key facts

• 4,356 sq ft lot
• Built 1953
• Listed 64 days

Property features AI

Finance

• Other: Directions: From HWY 57, turn north on Spriger St and East Matilda St; house will be on left
• Financial info: Annual tax amount: $605

Exterior

• Utilities: Public water; Public sewer
• Home design: Single-family site-built home; One story
• Construction: Vinyl siding; 856 above-grade finished square feet
• Exterior features: Level lot; Lot dimensions approximately 100' x 50'

Interior

• Bedrooms: Total rooms: 4; Laundry on main level
• Bathrooms: 1 full bathroom (main level)
• Heating & cooling: Has cooling (type: Other)
• Interior features: Crawl space basement
• Laundry & utility: Main-level laundry

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $80k.

Deal economics

• At list price, monthly cash flow is $181 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($859 rent vs $80k).
• Recommended offer: $75k (6.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 63/100 on livability (#422 in IN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: employment C-, health & safety C-, crime D+.
• North Daviess Community Schools (rural): math 32% / reading 46% proficiency, ranked #157 of 301 in IN (top 52%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: North Daviess Elementary School (math 37% / reading 44%, grade F, #491 of 994 statewide, top 50%, 637 students, 48% FRL); North Daviess Jr-Sr High School (math 26% / reading 48%, grade F, #247 of 369 statewide, top 70%, 471 students, 49% FRL) — zoned schools average 49% FRL vs 31% district-wide (18 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 6 active listings in the ZIP; 71 units permitted in Daviess County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $6k of equity ($552 loan paydown + $5k appreciation (6.6% local appreciation)).
• Daviess County population projected at +6% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (6.6% appreciation + 3.0% rent growth), your $22k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 6, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 65 days — a 6% lower offer ($75k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts; this cycle's ask has dropped $9k (10%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1953 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $75,106 (6.0% below list)

Questions for the listing agent

1. It's been on market 65 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1953 — 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. Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
7. 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.
8. 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.
9. 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: 1.08% ✓
• Cap rate: 9.00%
• Cash-on-cash: 9.68%
• DSCR: 1.43
• GRM: 7.8

CMA / ARV

• ARV (on-the-fly): $42,800
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
214 S East St	0.20mi	2/1.0	924 (+8%)	18mo	$35,000	$38	62
528 3rd St	0.57mi	2/1.0	912 (+6%)	20mo	$45,900	$50	46

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

6.61% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 24.6%
• Equity multiple: 2.68×
• Total profit: $37,480
• Equity at exit: $53,348

10-year hold

• IRR: 22.9%
• Equity multiple: 5.49×
• Total profit: $100,537
• Equity at exit: $99,558

Cash invested: $22,372 (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 47529

• Home prices YoY: 3.0%
• Active inventory: 6
• Price-to-rent: 7.8×

Monthly cashflow live

• Estimated rent: $859 medium
• Mortgage (P&I): −$419
• Tax from tax record: −$46 /mo · $550/yr
• Insurance: −$33
• HOA: −$0
• Vacancy / Maint / Mgmt: −$180
• Net cashflow: $181

Break-even live

Break-even rent $631

Max offer price $79,900

Occupancy floor 74%

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: $19,975
• Closing costs: $2,397
• Reserves months: —
• Total cash needed: —

Listing history 24 events

1. 2026-06-18
   days on market $79,900 Active 65 DOM
2. 2026-06-17
   days on market $79,900 Active 64 DOM
3. 2026-06-16
   days on market $79,900 Active 63 DOM
4. 2026-06-15
   days on market $79,900 Active 62 DOM
5. 2026-06-13
   days on market $79,900 Active 60 DOM
6. 2026-06-12
   days on market $79,900 Active 59 DOM
7. 2026-06-09
   days on market $79,900 Active 56 DOM
8. 2026-06-08
   days on market $79,900 Active 55 DOM
9. 2026-06-07
   days on market $79,900 Active 54 DOM
10. 2026-06-07
    days on market $79,900 Active 53 DOM
11. 2026-06-04
    days on market $79,900 Active 50 DOM
12. 2026-06-02
    days on market $79,900 Active 49 DOM
13. 2026-06-01
    days on market $79,900 Active 48 DOM
14. 2026-05-31
    days on market $79,900 Active 47 DOM
15. 2026-05-31
    days on market $79,900 Active 46 DOM
16. 2026-05-01
    price $79,900
17. 2026-05-01
    status Active
18. 2026-04-10
    status Pending
19. 2026-04-09
    price $83,000
20. 2026-04-06
    price $88,000
21. 2026-04-06
    status Active
22. 2026-03-04
    status Pending
23. 2026-02-21
    listed $89,000 Active
24. 2026-02-17
    historical $89,000

ⓘ 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: $550 · $46/mo
• Projected year-2 tax: $615 · $51/mo
• Expected delta: +$65/yr (+$5/mo · 11.7%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 3/10 Moderate 20% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 4/10 Moderate 7 d/yr ≥106°F today · 19 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 2% 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: $10,309
• − Mortgage interest: −$4,476
• − Property taxes: −$550
• − Insurance: −$400
• − Repairs & maintenance: −$825
• − Management: −$825
• − Depreciation: −$2,324
• Taxable income: $910
• Est. tax owed @ 24.0%: −$218
• After-tax cash flow: $1,948/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 Daviess Community Schools
• NCES district ID: 1807710
• Math proficiency: 32% ▼ -17.00%
• Reading proficiency: 46% ▼ -11.00%
• Median HH income: $45,197
• Composite: 33.15/100
• National rank: #5552
• State rank: #157 of 301 in IN

Livability — Elnora

• Score: 63/100
• State rank: #422
• US rank: #15217

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Elnora, IN
• Population (ZIP): 1,140

Population outlook (Daviess County) Hauer SSP2

• Today (2025): 33,940 people
• By 2030: 34,457 · +1.5%
• By 2040: 35,412 · +4.3%
• By 2050: 35,803 · +5.5%
• By 2075: 35,173 · +3.6%
• By 2100: 29,799 · -12.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (98%)
• Race & ethnicity: White 98%
• Common ancestry: Lithuanian 4% Slovak 3% Serbian 2%
• Languages at home: 80% English-only · German/W. Germanic 20%

Political lean MEDSL · Daviess

• 2024 margin: Solid R (+64.3) · D 17.1% · R 81.5% · Other 1.4%
• 2008→2024 swing: -29.1pp toward R · 2008: -35.2pp · 2024: -64.3pp
• All cycles: 2024: R+64.3 2020: R+62.0 2016: R+62.8 2012: R+50.8 2008: R+35.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 6.61%
• Current HPI: 230.1335
• Rent YoY: —
• Metro: —
• 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

-10.2% since first listed

9 events — show timeline

• 2026-05-01 Price Changed $79,900 IRMLS
• 2026-05-01 Relisted — IRMLS
• 2026-04-10 Pending — IRMLS
• 2026-04-09 Price Changed $83,000 IRMLS
• 2026-04-06 Price Changed $88,000 IRMLS
• 2026-04-06 Relisted — IRMLS
• 2026-03-04 Pending — IRMLS
• 2026-02-21 Listed $89,000 IRMLS
• 2026-02-17 Coming Soon $89,000 IRMLS

Property tax history

-0.5%/yr

Latest (2024): $550 · -1.1% YoY. Source: county tax records.