128 W 6th St · Peru, IN 46970

$71,900

2 bd · 1.0 ba · 2,368 sqft · SingleFamily public records · 6 Days on market

Built 1900 4,792 sqft lot Est $135k · 47% under ↓ 9% 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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +3.9/5.0
• Schools +3.0/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

THIS HOME IS MOVE IN READY! IT HAS BEEN TOTALLY UPDATED WITHIN THE LAST FEW YEARS INCLUDING WIRING, PLUMBING, FURNACE AND CENTRAL A/C, WATER HEATER, WATER SOFTNER, VINYL PRIVACY FENCE, BATHROOM, KITCHEN CABINETS, GRANITE COUNTER TOP, FLOORING AND PAINT. LARGE EAT IN KITCHEN COMES WITH COMPLETE WITH STAINLESS STEEL APPLIANCE PACKAGE, AND CHERRY CABINETS. LAUNDRY ROOM COMES WITH FRONT LOAD WASHER AND DRYER. NICE BACK YARD WITH VINYL PRIVACY FENCE AND FIRE PIT AREA. THIS IS A MUST FOR ANY BUYER!

Key facts

• Cherry cabinets
• Great location
• Eat in kitchen

Tags

• GREAT LOCATION
• EAT IN KITCHEN
• GRANITE COUNTERTOPS
• CHERRY CABINETS
• WRAP AROUND FRONT PORCH
• FULLY FENCED BACKYARD

Property features AI

Exterior

• Utilities: Public water; Public sewer
• Home design: Single-family, site-built home; Single story
• Construction: Vinyl siding; Asphalt roof; Has an unfinished basement
• Exterior features: Covered porch; Patio; Full privacy fencing

Interior

• Kitchen: Eat-in kitchen; Stone countertops
• Bedrooms: Total of 8 rooms (includes bedrooms and other living spaces); Laundry located on the main level
• Bathrooms: 1 full bathroom (main level)
• Heating & cooling: Natural gas heating with forced air; Central air conditioning
• Interior features: Eat-in kitchen; Stone counters; Unfinished 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 $72k.

Deal economics

• At list price, monthly cash flow is $356 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $72k).
• Cap rate 12.2% vs local median 6.1% in Peru — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 77/100 on livability (#35 in IN, #2,834 nationally) — a middle-class / working-renter tenant base. Strengths: amenities A+, cost of living A+, housing A+; Watch: crime D+, commute F, employment F.
• Peru Community Schools (town): math 31% / reading 42% proficiency, ranked #192 of 301 in IN (top 64%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Blair Pointe Upper Elementary (math 34% / reading 38%, grade F, #577 of 994 statewide, top 59%, 552 students, 63% FRL); Peru Jr/Sr High School (math 27% / reading 57%, grade F, #197 of 369 statewide, top 57%, 883 students, 59% FRL).
• Market conditions: 129 active listings in the ZIP; 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 $497 of loan paydown is wiped out by about $2k 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 $20k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 12y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $71,900

Questions for the listing agent

1. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
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: 1.51% ✓
• Cap rate: 12.24%
• Cash-on-cash: 21.24%
• DSCR: 1.95
• GRM: 5.5

CMA / ARV

• ARV (on-the-fly): $134,976
• Comps found: 11

Show comp detail 11 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
69 W 5 th St	0.15mi	3/2.0 (+1)	2,450 (+4%)	1mo	$212,000	$87	77
11 N Hood St	0.12mi	3/1.5 (+1)	2,240 (-5%)	15mo	$127,000	$57	66
279 N Duke St	0.58mi	2/1.0	2,238 (-6%)	10mo	$85,000	$38	55
350 N Broadway	0.39mi	3/1.5 (+1)	2,080 (-12%)	0mo	$143,000	$69	54
452 W 5th St	0.55mi	3/1.0 (+1)	2,240 (-5%)	16mo	$110,000	$49	47
321 W Main St	0.39mi	3/1.0 (+1)	2,016 (-15%)	9mo	$160,000	$79	45
30 E Warren St	0.67mi	3/1.5 (+1)	2,584 (+9%)	4mo	$120,000	$46	43
388 W 5th St	0.48mi	3/1.0 (+1)	2,096 (-12%)	22mo	$92,500	$44	35
530 W 3rd St	0.72mi	3/1.0 (+1)	2,152 (-9%)	18mo	$90,000	$42	31
306 W 13th St	0.59mi	3/2.5 (+1)	2,142 (-10%)	22mo	$205,000	$96	27
475 W 3rd St	0.64mi	2/2.0	2,016 (-15%)	21mo	$170,000	$84	24

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: 13.8%
• Equity multiple: 1.55×
• Total profit: $11,069
• Equity at exit: $10,721

10-year hold

• IRR: 22.6%
• Equity multiple: 2.93×
• Total profit: $38,951
• Equity at exit: $6,217

Cash invested: $20,132 (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: 5.5×

Monthly cashflow live

• Estimated rent: $1,088 medium
• Mortgage (P&I): −$377
• Tax from tax record: −$96 /mo · $1,154/yr
• Insurance: −$30
• HOA: −$0
• Vacancy / Maint / Mgmt: −$228
• Net cashflow: $356

Break-even live

Break-even rent $637

Max offer price $71,900

Occupancy floor 62%

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: $17,975
• Closing costs: $2,157
• Reserves months: —
• Total cash needed: —

Listing history 6 events

1. 2026-04-29
   status Pending
2. 2026-04-23
   listed $71,900 Active
3. 2021-02-22
   soldstatus $116,000 498-char remark

   Show marketing remark (498 chars)

   THIS HOME IS MOVE IN READY! IT HAS BEEN TOTALLY UPDATED WITHIN THE LAST FEW YEARS INCLUDING WIRING, PLUMBING, FURNACE AND CENTRAL A/C, WATER HEATER, WATER SOFTNER, VINYL PRIVACY FENCE, BATHROOM, KITCHEN CABINETS, GRANITE COUNTER TOP, FLOORING AND PAINT. LARGE EAT IN KITCHEN COMES WITH COMPLETE WITH STAINLESS STEEL APPLIANCE PACKAGE, AND CHERRY CABINETS. LAUNDRY ROOM COMES WITH FRONT LOAD WASHER AND DRYER. NICE BACK YARD WITH VINYL PRIVACY FENCE AND FIRE PIT AREA. THIS IS A MUST FOR ANY BUYER!

4. 2020-12-28
   listed $120,000 498-char remark

   Show marketing remark (498 chars)

   THIS HOME IS MOVE IN READY! IT HAS BEEN TOTALLY UPDATED WITHIN THE LAST FEW YEARS INCLUDING WIRING, PLUMBING, FURNACE AND CENTRAL A/C, WATER HEATER, WATER SOFTNER, VINYL PRIVACY FENCE, BATHROOM, KITCHEN CABINETS, GRANITE COUNTER TOP, FLOORING AND PAINT. LARGE EAT IN KITCHEN COMES WITH COMPLETE WITH STAINLESS STEEL APPLIANCE PACKAGE, AND CHERRY CABINETS. LAUNDRY ROOM COMES WITH FRONT LOAD WASHER AND DRYER. NICE BACK YARD WITH VINYL PRIVACY FENCE AND FIRE PIT AREA. THIS IS A MUST FOR ANY BUYER!

5. 2014-10-15
   soldstatus $75,000 716-char remark

   Show marketing remark (716 chars)

   Totally renovated from top to bottom, this home has custom detail throughout! Large eat-in gourmet kitchen boasts full stainless steel appliance package, amazing cherry cabinets, granite counters and gorgeous tile floors. Bath has been completely redone with new vanity, tub/shower, granite counters and tile floors. New wiring, plumbing, furnace and central air. The entire home has been freshly painted with new carpet throughout. The exterior of the home has a new metal roof, wrap around front porch, new paint and tons of charm. Vinyl fence surrounds the backyard for privacy and an enormous laundry room gives you tons of options. This home is OUTSTANDING! Give us a call before someone else steals your dream.

6. 2014-09-18
   listed $79,400 716-char remark

   Show marketing remark (716 chars)

   Totally renovated from top to bottom, this home has custom detail throughout! Large eat-in gourmet kitchen boasts full stainless steel appliance package, amazing cherry cabinets, granite counters and gorgeous tile floors. Bath has been completely redone with new vanity, tub/shower, granite counters and tile floors. New wiring, plumbing, furnace and central air. The entire home has been freshly painted with new carpet throughout. The exterior of the home has a new metal roof, wrap around front porch, new paint and tons of charm. Vinyl fence surrounds the backyard for privacy and an enormous laundry room gives you tons of options. This home is OUTSTANDING! Give us a call before someone else steals your dream.

ⓘ 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: $1,154 · $96/mo
• Projected year-2 tax: $1,154 · $96/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 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥102°F today · 16 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $13,057
• − Mortgage interest: −$4,028
• − Property taxes: −$1,154
• − Insurance: −$360
• − Repairs & maintenance: −$1,045
• − Management: −$1,045
• − Depreciation: −$2,092
• Taxable income: $3,335
• Est. tax owed @ 24.0%: −$800
• After-tax cash flow: $3,476/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: Peru Community Schools
• NCES district ID: 1808850
• Math proficiency: 31% ▼ -9.00%
• Reading proficiency: 42% ▼ -2.00%
• Median HH income: $35,624
• Composite: 30.18/100
• National rank: #6316
• State rank: #192 of 301 in IN

Livability — Peru

• Score: 77/100
• State rank: #35
• US rank: #2834

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Peru, IN
• County: Miami County · 23,020 people
• City population: 23,020
• 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

-9.4% since first listed

6 events — show timeline

• 2026-04-29 Pending — IRMLS
• 2026-04-23 Listed $71,900 IRMLS
• 2021-02-22 Sold (MLS) $116,000 IRMLS
• 2020-12-28 Listed $120,000 IRMLS
• 2014-10-15 Sold (MLS) $75,000 IRMLS
• 2014-09-18 Listed $79,400 IRMLS

Property tax history

+7.0%/yr

Latest (2024): $1,154 · +2.7% YoY. Source: county tax records.