39034 Edwards Ct · Grissom AFB, IN 46970

$105,000

3 bd · 1.5 ba · 1,475 sqft · SingleFamily public records · 80 Days on market

Built 1970 6,068 sqft lot $71/sqft · 52% above area

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Why this score? — see what drove the C+ 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 +27.6/30.0
• DSCR +9.7/10.0
• ARV discount +7.5/15.0
• 1% rule +6.2/10.0
• Livability +3.2/5.0
• Schools +2.8/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Spacious 4-bedroom, 2.5-bath townhouse ready for your finishing touches! This home offers a great layout with plenty of room to grow, including a large living area and multiple bedrooms. With some work needed to complete, this is a perfect opportunity to build equity and customize to your style. Ideal for buyers looking for value and potential in a convenient location.

Key facts

• Built 1970
• Listed 79 days

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $105k.

Deal economics

• At list price, monthly cash flow is $312 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $105k).
• Recommended offer: $99k (6.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 65/100 on livability (#359 in IN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A; Watch: schools F, amenities F, commute F.
• Maconaquah School Corporation (rural): math 25% / reading 40% proficiency, ranked #213 of 301 in IN (top 71%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 129 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; 35 units permitted in Miami County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $726 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Miami 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 + 3.0% rent growth), your $29k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 80 days — a 6% lower offer ($99k) is reasonable based on typical stale-listing flexibility.

Recommended offer $98,700 (6.0% below list)

Questions for the listing agent

1. It's been on market 80 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 1970 — 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 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?
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: 1.12% ✓
• Cap rate: 9.86%
• Cash-on-cash: 12.75%
• DSCR: 1.57
• GRM: 7.4

CMA / ARV

• ARV (median comp): $68,999
• List price: $105,000
• Delta: 52.18%
• Verdict: OVERPRICED
• Comps: 19 within 1.0 mi

Show comp detail 11 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2102 Cannon Cir	0.48mi	3/2.0	1,466 (-1%)	2mo	$149,900	$102	73
2670 Capehart Ave	0.40mi	3/2.0	1,446 (-2%)	12mo	$145,000	$100	66
2805 Castle Ct	0.31mi	3/1.0	1,540 (+4%)	15mo	$123,500	$80	63
1619 Warhawk Rd	0.71mi	3/2.0	1,466 (-1%)	2mo	$142,000	$97	62
1831 Norton Ave	0.51mi	3/2.0	1,466 (-1%)	14mo	$146,000	$100	61
1421 Eglin Ave	0.56mi	3/2.0	1,429 (-3%)	21mo	$84,005	$59	49
1639 Warhawk St	0.57mi	3/2.0	1,429 (-3%)	21mo	$71,600	$50	49
2924 Travis St	0.34mi	3/2.5	1,641 (+11%)	19mo	$125,000	$76	46
1733 S Lincoln St	0.64mi	3/2.0	1,448 (-2%)	24mo	$71,800	$50	45
2807 Castle Ct	0.31mi	3/1.0	1,682 (+14%)	21mo	$113,000	$67	43
1737 S Lincoln Rd	0.61mi	4/2.0 (+1)	1,442 (-2%)	23mo	$112,900	$78	41

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: 2.5%
• Equity multiple: 1.10×
• Total profit: $2,836
• Equity at exit: $15,656

10-year hold

• IRR: 12.0%
• Equity multiple: 1.95×
• Total profit: $27,892
• Equity at exit: $9,078

Cash invested: $29,400 (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 46970

• Home prices YoY: -8.8%
• Active inventory: 129
• Price-to-rent: 7.4×

Monthly cashflow live

• Estimated rent: $1,175 high
• Mortgage (P&I): −$551
• Tax from tax record: −$21 /mo · $254/yr
• Insurance: −$44
• HOA: −$0
• Vacancy / Maint / Mgmt: −$247
• Net cashflow: $312

Break-even live

Break-even rent $779

Max offer price $105,000

Occupancy floor 68%

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: $26,250
• Closing costs: $3,150
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
39023 Edwards Ct Peru, IN	4.0	2.5	1334	$1,230	$0.92	43d	1	0.08mi
38042 Dow Ct Peru, IN	3.0	1.5	1542	$1,150	$0.75	43d	1	0.14mi
36013 Beale Ct Peru, IN	3.0	1.5	1080	$1,050	$0.97	43d	1	0.26mi
2909 Travis St Peru, IN	3.0	1.5	1148	$1,125	$0.98	43d	1	0.29mi
1029 N Lincoln St Peru, IN	3.0	1.0	941	$1,000	$1.06	43d	1	0.79mi
1703 S Lincoln St Peru, IN	3.0	2.0	1201	$1,100	$0.92	43d	1	0.81mi

Listing history 17 events

1. 2026-06-19
   days on market $105,000 Active 80 DOM
2. 2026-06-18
   days on market $105,000 Active 79 DOM
3. 2026-06-17
   days on market $105,000 Active 78 DOM
4. 2026-06-16
   days on market $105,000 Active 77 DOM
5. 2026-06-15
   days on market $105,000 Active 76 DOM
6. 2026-06-14
   days on market $105,000 Active 74 DOM
7. 2026-06-13
   days on market $105,000 Active 73 DOM
8. 2026-06-10
   days on market $105,000 Active 71 DOM
9. 2026-06-09
   days on market $105,000 Active 70 DOM
10. 2026-06-08
    days on market $105,000 Active 69 DOM
11. 2026-06-07
    days on market $105,000 Active 68 DOM
12. 2026-06-05
    days on market $105,000 Active 65 DOM
13. 2026-06-02
    days on market $105,000 Active 63 DOM
14. 2026-06-01
    days on market $105,000 Active 62 DOM
15. 2026-05-31
    days on market $105,000 Active 61 DOM
16. 2026-05-30
    days on market $105,000 Active 60 DOM
17. 2026-03-31
    listed $105,000 Active 371-char remark

    Show marketing remark (371 chars)

    Spacious 4-bedroom, 2.5-bath townhouse ready for your finishing touches! This home offers a great layout with plenty of room to grow, including a large living area and multiple bedrooms. With some work needed to complete, this is a perfect opportunity to build equity and customize to your style. Ideal for buyers looking for value and potential in a convenient location.

ⓘ 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: $254 · $21/mo
• Projected year-2 tax: $573 · $48/mo
• Expected delta: +$319/yr (+$27/mo · 125.5%)

ⓘ 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 ≥101°F today · 17 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $14,097
• − Mortgage interest: −$5,882
• − Property taxes: −$254
• − Insurance: −$525
• − Repairs & maintenance: −$1,128
• − Management: −$1,128
• − Depreciation: −$3,055
• Taxable income: $2,126
• Est. tax owed @ 24.0%: −$510
• After-tax cash flow: $3,239/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: Maconaquah School Corporation
• NCES district ID: 1806090
• Math proficiency: 25% ▼ -12.00%
• Reading proficiency: 40% ▼ -6.00%
• Median HH income: $47,296
• Composite: 27.96/100
• National rank: #6859
• State rank: #213 of 301 in IN

Livability — Grissom AFB

• Score: 65/100
• State rank: #359
• US rank: #13555

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Grissom AFB, IN
• County: Miami County · 23,020 people
• Metro: Peru, IN
• Population (ZIP): 23,020
• Household income: $57,842
• Rent vs Own: 28.5% rent · 71.5% own
• Severe rent burden: 498.0

Population outlook (Miami County) Hauer SSP2

• Today (2025): 34,421 people
• By 2030: 33,571 · -2.5%
• By 2040: 31,919 · -7.3%
• By 2050: 30,313 · -11.9%
• By 2075: 26,202 · -23.9%
• By 2100: 20,856 · -39.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (87%)
• Race & ethnicity: White 87% Two or more races 6% Hispanic / Latino 4% Black 3%
• Common ancestry: Iranian 2% Romanian 2% Slovak 2%
• Foreign-born: 1% · Canada
• Languages at home: 97% English-only · Spanish 2% German/W. Germanic 0%

Political lean MEDSL · Miami

• 2024 margin: Solid R (+54.5) · D 21.8% · R 76.3% · Other 1.9%
• 2008→2024 swing: -35.1pp toward R · 2008: -19.5pp · 2024: -54.5pp
• All cycles: 2024: R+54.5 2020: R+53.1 2016: R+53.6 2012: R+30.9 2008: R+19.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -24.29%
• Current HPI: 252.7166
• Rent YoY: —
• Metro: Peru, 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

• 2026-03-31 Listed $105,000 IRMLS

Property tax history

-2.1%/yr

Latest (2024): $254 · +43.8% YoY. Source: county tax records.