413 S Buffalo Rd · Burket, IN 46508

$125,000

4 bd · 1.0 ba · 1,380 sqft · SingleFamily · 192 Days on market

Built 1950 Fair condition 0.40 ac lot $91/sqft · at area comps Est $126k · at est. ↓ 34% since listing

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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 +18.0/30.0
• ARV discount +7.9/15.0
• DSCR +5.7/10.0
• Appreciation +5.0/10.0
• 1% rule +4.8/10.0
• Schools +3.5/10.0
• Livability +3.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.2/5.0

Listing remarks MLS

Charming 4-Bedroom Home in the Heart of Burket, Indiana Welcome to this spacious and inviting 4-bedroom, 1-bathroom home located in the peaceful town of Burket, Indiana. Offering a perfect blend of classic charm and modern potential, this home is ideal for growing families or anyone looking for a cozy retreat with plenty of space to make their own. The home features four generously sized bedrooms, each providing ample room for family, guests, or even a home office. The large living area is open and inviting, making it perfect for both relaxation and entertaining. Its open layout seamlessly connects to other areas of the home, providing a comfortable flow throughout. The kitchen offers functionality with plenty of room for meal prep, and it includes essential appliances, leaving plenty of potential for upgrades to suit your personal taste. The private backyard is another standout feature, providing ample space for outdoor activities, gardening, or simply enjoying the fresh air in your own setting. Located in a quiet and friendly neighborhood, this home offers the best of small-town living while still being conveniently close to local amenities and major routes. With a bit of personalization, this property holds endless possibilities for anyone looking to settle in Burket. Schedule your showing today and come explore all the potential this home has to offer!

Key facts

• Private backyard
• Open layout
• Local amenities

Tags

• PRIVATE BACKYARD
• QUIET NEIGHBORHOOD
• LOCAL AMENITIES
• OPEN LAYOUT

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $125k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $108 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $123k (1.6% below list).
• Recommended offer: $110k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 59/100 on livability (#571 in IN) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+; Watch: employment D, schools F, amenities F.
• Tippecanoe Valley School Corporation (rural): math 40% / reading 42% proficiency, ranked #126 of 301 in IN (top 42%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 1 active listings in the ZIP; 261 units permitted in Kosciusko County in 2024 (10 in 5+ unit buildings).

Forward outlook

• In year one you build about $5k of equity ($864 loan paydown + $4k appreciation (3.0% local appreciation)).
• Kosciusko County population projected at +3% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (3.0% appreciation + 3.0% rent growth), your $35k cash investment doubles in ~6 years — after that, you're playing with house money.
• By year 8, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 192 days — a 12% lower offer ($110k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1950 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $110,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 192 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
3. Built in 1950 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
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: 0.98% ✗
• Cap rate: 7.33%
• Cash-on-cash: 3.71%
• DSCR: 1.17
• GRM: 8.5

CMA / ARV

• ARV (median comp): $126,102
• List price: $125,000
• Delta: -0.87%
• Verdict: FAIR
• Comps: 8 within 1.0 mi

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
116 W Broadway St	0.06mi	3/1.5 (-1)	1,534 (+11%)	22mo	$140,000	$91	53
109 W Center St	0.19mi	3/1.0 (-1)	1,206 (-13%)	17mo	$135,000	$112	51

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: 11.0%
• Equity multiple: 1.63×
• Total profit: $21,975
• Equity at exit: $56,205

10-year hold

• IRR: 13.2%
• Equity multiple: 2.96×
• Total profit: $68,605
• Equity at exit: $86,619

Cash invested: $35,000 (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 46508

• Active inventory: 1
• Price-to-rent: 8.5×

Monthly cashflow live

• Estimated rent: $1,231 medium
• Mortgage (P&I): −$656
• Tax est. 1.5%: −$156 /mo · $1,875/yr
• Insurance: −$52
• HOA: −$0
• Vacancy / Maint / Mgmt: −$258
• Net cashflow: $108

Break-even live

Break-even rent $1,093

Max offer price $125,000

Occupancy floor 86%

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: $31,250
• Closing costs: $3,750
• Reserves months: —
• Total cash needed: —

Listing history 20 events

1. 2026-06-19
   days on market $125,000 Active 192 DOM
2. 2026-06-18
   days on market $125,000 Active 191 DOM
3. 2026-06-17
   days on market $125,000 Active 190 DOM
4. 2026-06-16
   days on market $125,000 Active 189 DOM
5. 2026-06-15
   days on market $125,000 Active 188 DOM
6. 2026-06-14
   days on market $125,000 Active 186 DOM
7. 2026-06-12
   days on market $125,000 Active 185 DOM
8. 2026-06-09
   days on market $125,000 Active 182 DOM
9. 2026-06-08
   days on market $125,000 Active 181 DOM
10. 2026-06-07
    days on market $125,000 Active 180 DOM
11. 2026-06-05
    days on market $125,000 Active 177 DOM
12. 2026-06-02
    days on market $125,000 Active 175 DOM
13. 2026-06-01
    days on market $125,000 Active 174 DOM
14. 2026-05-31
    days on market $125,000 Active 173 DOM
15. 2026-05-30
    days on market $125,000 Active 172 DOM
16. 2026-03-24
    price $125,000 1379-char remark

    Show marketing remark (1379 chars)

    Charming 4-Bedroom Home in the Heart of Burket, Indiana Welcome to this spacious and inviting 4-bedroom, 1-bathroom home located in the peaceful town of Burket, Indiana. Offering a perfect blend of classic charm and modern potential, this home is ideal for growing families or anyone looking for a cozy retreat with plenty of space to make their own. The home features four generously sized bedrooms, each providing ample room for family, guests, or even a home office. The large living area is open and inviting, making it perfect for both relaxation and entertaining. Its open layout seamlessly connects to other areas of the home, providing a comfortable flow throughout. The kitchen offers functionality with plenty of room for meal prep, and it includes essential appliances, leaving plenty of potential for upgrades to suit your personal taste. The private backyard is another standout feature, providing ample space for outdoor activities, gardening, or simply enjoying the fresh air in your own setting. Located in a quiet and friendly neighborhood, this home offers the best of small-town living while still being conveniently close to local amenities and major routes. With a bit of personalization, this property holds endless possibilities for anyone looking to settle in Burket. Schedule your showing today and come explore all the potential this home has to offer!

17. 2026-03-16
    price $145,000 1379-char remark

    Show marketing remark (1379 chars)

    Charming 4-Bedroom Home in the Heart of Burket, Indiana Welcome to this spacious and inviting 4-bedroom, 1-bathroom home located in the peaceful town of Burket, Indiana. Offering a perfect blend of classic charm and modern potential, this home is ideal for growing families or anyone looking for a cozy retreat with plenty of space to make their own. The home features four generously sized bedrooms, each providing ample room for family, guests, or even a home office. The large living area is open and inviting, making it perfect for both relaxation and entertaining. Its open layout seamlessly connects to other areas of the home, providing a comfortable flow throughout. The kitchen offers functionality with plenty of room for meal prep, and it includes essential appliances, leaving plenty of potential for upgrades to suit your personal taste. The private backyard is another standout feature, providing ample space for outdoor activities, gardening, or simply enjoying the fresh air in your own setting. Located in a quiet and friendly neighborhood, this home offers the best of small-town living while still being conveniently close to local amenities and major routes. With a bit of personalization, this property holds endless possibilities for anyone looking to settle in Burket. Schedule your showing today and come explore all the potential this home has to offer!

18. 2026-01-21
    price $160,000 1379-char remark

    Show marketing remark (1379 chars)

    Charming 4-Bedroom Home in the Heart of Burket, Indiana Welcome to this spacious and inviting 4-bedroom, 1-bathroom home located in the peaceful town of Burket, Indiana. Offering a perfect blend of classic charm and modern potential, this home is ideal for growing families or anyone looking for a cozy retreat with plenty of space to make their own. The home features four generously sized bedrooms, each providing ample room for family, guests, or even a home office. The large living area is open and inviting, making it perfect for both relaxation and entertaining. Its open layout seamlessly connects to other areas of the home, providing a comfortable flow throughout. The kitchen offers functionality with plenty of room for meal prep, and it includes essential appliances, leaving plenty of potential for upgrades to suit your personal taste. The private backyard is another standout feature, providing ample space for outdoor activities, gardening, or simply enjoying the fresh air in your own setting. Located in a quiet and friendly neighborhood, this home offers the best of small-town living while still being conveniently close to local amenities and major routes. With a bit of personalization, this property holds endless possibilities for anyone looking to settle in Burket. Schedule your showing today and come explore all the potential this home has to offer!

19. 2025-12-15
    price $180,000 1379-char remark

    Show marketing remark (1379 chars)

    Charming 4-Bedroom Home in the Heart of Burket, Indiana Welcome to this spacious and inviting 4-bedroom, 1-bathroom home located in the peaceful town of Burket, Indiana. Offering a perfect blend of classic charm and modern potential, this home is ideal for growing families or anyone looking for a cozy retreat with plenty of space to make their own. The home features four generously sized bedrooms, each providing ample room for family, guests, or even a home office. The large living area is open and inviting, making it perfect for both relaxation and entertaining. Its open layout seamlessly connects to other areas of the home, providing a comfortable flow throughout. The kitchen offers functionality with plenty of room for meal prep, and it includes essential appliances, leaving plenty of potential for upgrades to suit your personal taste. The private backyard is another standout feature, providing ample space for outdoor activities, gardening, or simply enjoying the fresh air in your own setting. Located in a quiet and friendly neighborhood, this home offers the best of small-town living while still being conveniently close to local amenities and major routes. With a bit of personalization, this property holds endless possibilities for anyone looking to settle in Burket. Schedule your showing today and come explore all the potential this home has to offer!

20. 2025-12-09
    listed $190,000 Active 1379-char remark

    Show marketing remark (1379 chars)

    Charming 4-Bedroom Home in the Heart of Burket, Indiana Welcome to this spacious and inviting 4-bedroom, 1-bathroom home located in the peaceful town of Burket, Indiana. Offering a perfect blend of classic charm and modern potential, this home is ideal for growing families or anyone looking for a cozy retreat with plenty of space to make their own. The home features four generously sized bedrooms, each providing ample room for family, guests, or even a home office. The large living area is open and inviting, making it perfect for both relaxation and entertaining. Its open layout seamlessly connects to other areas of the home, providing a comfortable flow throughout. The kitchen offers functionality with plenty of room for meal prep, and it includes essential appliances, leaving plenty of potential for upgrades to suit your personal taste. The private backyard is another standout feature, providing ample space for outdoor activities, gardening, or simply enjoying the fresh air in your own setting. Located in a quiet and friendly neighborhood, this home offers the best of small-town living while still being conveniently close to local amenities and major routes. With a bit of personalization, this property holds endless possibilities for anyone looking to settle in Burket. Schedule your showing today and come explore all the potential this home has to offer!

ⓘ 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 ≥99°F today · 16 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 3/10 Moderate 1 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $14,767
• − Mortgage interest: −$7,002
• − Property taxes: −$1,875
• − Insurance: −$625
• − Repairs & maintenance: −$1,181
• − Management: −$1,181
• − Depreciation: −$3,636
• Taxable loss: −$734
• Est. tax savings @ 24.0%: +$176
• After-tax cash flow: $1,476/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.

Condition & rehab AI · 12 photos

Fair 45/100 Moderate rehab

This home requires moderate renovations to improve its condition and increase its value. Key areas for improvement include exterior siding, roof, flooring, and interior walls.

Repairs flagged

• Major Exterior siding — Significant peeling and wear
• Major Roof — Visible icicles and potential ice damming
• Major Flooring — Worn and stained carpet
• Major Interior walls/paint — Peeling and uneven paint
• Minor Kitchen countertops — Aesthetic but not functional
• Minor Bathroom fixtures — Aesthetic but not functional

Value-add opportunities

• Resale Paint interior walls — Fresh paint enhances curb appeal and interior aesthetics
• Resale Replace carpet — New carpet improves comfort and appearance
• Both Replace kitchen countertops — Modern countertops increase functionality and value
• Both Replace bathroom fixtures — Upgraded fixtures improve functionality and aesthetics

Renovation cost estimate screening

Repair item	Severity	Est. cost
Exterior siding · Significant peeling and wear	Major	$15,000–50,000
Roof · Visible icicles and potential ice damming	Major	$15,000–50,000
Flooring · Worn and stained carpet	Major	$15,000–50,000
Interior walls/paint · Peeling and uneven paint	Major	$15,000–50,000
Kitchen countertops · Aesthetic but not functional	Minor	$500–3,000
Bathroom fixtures · Aesthetic but not functional	Minor	$500–3,000
Total estimated repair cost · 6 items		$61,000–206,000

Value-add ROI direction

• Resale Paint interior walls — Fresh paint enhances curb appeal and interior aesthetics ↑
• Resale Replace carpet — New carpet improves comfort and appearance ↑
• Both Replace kitchen countertops — Modern countertops increase functionality and value ↑
• Both Replace bathroom fixtures — Upgraded fixtures improve functionality and aesthetics ↑

ⓘ 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: Tippecanoe Valley School Corporation
• NCES district ID: 1811370
• Math proficiency: 40% ▼ -9.00%
• Reading proficiency: 42% ▼ -5.00%
• Median HH income: $49,697
• Composite: 35.29/100
• National rank: #4969
• State rank: #126 of 301 in IN

Livability — Burket

• Score: 59/100
• State rank: #571
• US rank: #20424

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Burket, IN
• City population: 184
• Population (ZIP): 184

Population outlook (Kosciusko County) Hauer SSP2

• Today (2025): 81,747 people
• By 2030: 82,878 · +1.4%
• By 2040: 84,270 · +3.1%
• By 2050: 84,191 · +3.0%
• By 2075: 82,918 · +1.4%
• By 2100: 74,808 · -8.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (92%)
• Race & ethnicity: White 92% Black 5% Hispanic / Latino 2%
• Common ancestry: Iranian 7% Slovak 4% Italian 1%
• Foreign-born: 1% · Canada
• Languages at home: 98% English-only · Spanish 2%

Political lean MEDSL · Kosciusko

• 2024 margin: Solid R (+52.3) · D 22.9% · R 75.2% · Other 1.9%
• 2008→2024 swing: -14.9pp toward R · 2008: -37.3pp · 2024: -52.3pp
• All cycles: 2024: R+52.3 2020: R+50.7 2016: R+55.1 2012: R+52.2 2008: R+37.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: —
• Current HPI: —
• 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

-34.2% since first listed

5 events — show timeline

• 2026-03-24 Price Changed $125,000 IRMLS
• 2026-03-16 Price Changed $145,000 IRMLS
• 2026-01-21 Price Changed $160,000 IRMLS
• 2025-12-15 Price Changed $180,000 IRMLS
• 2025-12-09 Listed $190,000 IRMLS