206 E 1st St · Burnettsville, IN 47926

$135,000

3 bd · 1.0 ba · 840 sqft · SingleFamily public records · 59 Days on market

Built 2023 0.51 ac lot

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Why this score? — see what drove the D- 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).

• ARV discount +7.5/15.0
• Appreciation +7.5/10.0
• Cash flow +7.4/30.0
• Schools +3.6/10.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +2.1/10.0
• DSCR +1.6/10.0

Listing remarks

Welcome to this well-maintained 3-year-old home nestled on a spacious lot with mature trees offering shade and privacy. This property features a comfortable layout with plenty of natural light throughout. Low maintenance living with updated interior and exterior. All new appliances in the kitchen provide an excellent start for a new homeowner. Master suite has an attached bathroom with a walk-in closet. Don't miss out on this opportunity.

Key facts

• 0.51 acre lot
• Built 2023
• Listed 58 days

Property features AI

Exterior

• Security: Smoke detector(s)
• Utilities: Private water; Private sewer
• Home design: Manufactured home; Single-story
• Construction: Vinyl siding
• Exterior features: Deck; Level lot

Interior

• Kitchen: Dishwasher; Refrigerator; Gas range
• Bedrooms: Master downstairs
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central air; Ceiling fans
• Interior features: Walk-in closet(s); Ceiling fan(s); Master bedroom on main level; One fireplace
• Laundry & utility: Washer hookup on main level; Gas dryer hookup on main level

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $135k.

Deal economics

• At list price, monthly cash flow is $-173 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $110k (18.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $96k (28.7% below list).
• Recommended offer: $96k (28.7% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 61/100 on livability (#498 in IN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: crime D+, employment D, amenities F.
• Twin Lakes School Corporation (town): math 39% / reading 46% proficiency, ranked #116 of 301 in IN (top 38%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Meadowlawn Elementary School (math 36% / reading 37%, grade F, #571 of 994 statewide, top 58%, 567 students, 56% FRL); Roosevelt Middle School (math 38% / reading 47%, grade D-, #98 of 330 statewide, top 30%, 523 students, 67% FRL); Twin Lakes Senior High School (math 37% / reading 62%, grade D, #123 of 369 statewide, top 36%, 674 students, 59% FRL) — zoned schools average 60% FRL vs 41% district-wide (20 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 6 active listings in the ZIP; 47 units permitted in White County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $8k of equity ($933 loan paydown + $7k appreciation (5.1% local appreciation)).
• White County population projected at -19% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• By year 5, 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 59 days — a 3% lower offer ($131k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts 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.
• Current owner paid $24k; list at $135k implies a 474% gain — meaningful room to come down on a strong offer.

Recommended offer $96,191 (28.7% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 59 days. Have you received any prior offers? Is the seller open to a 29% concession, seller financing, or rate buy-down credit?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 0.71% ✗
• Cap rate: 4.75%
• Cash-on-cash: -5.49%
• DSCR: 0.76
• GRM: 11.7

CMA / ARV

No comps found within radius.

Projected returns pro-forma

5.08% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 8.5%
• Equity multiple: 1.55×
• Total profit: $20,730
• Equity at exit: $77,163

10-year hold

• IRR: 10.2%
• Equity multiple: 2.90×
• Total profit: $71,961
• Equity at exit: $133,723

Cash invested: $37,800 (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 47926

• Home prices YoY: 2.4%
• Active inventory: 6
• Price-to-rent: 11.7×

Monthly cashflow live

• Estimated rent: $962 medium
• Mortgage (P&I): −$708
• Tax est. 1.5%: −$169 /mo · $2,025/yr
• Insurance: −$56
• HOA: −$0
• Vacancy / Maint / Mgmt: −$202
• Net cashflow: $-173

Break-even live

Break-even rent $1,181

Max offer price $109,960

Occupancy floor —

Sensitivity live

Price	-10% $-80	-5% $-126	+0% $-173	+5% $-220	+10% $-266
Rent	-10% $-249	-5% $-211	+0% $-173	+5% $-135	+10% $-97
Rate	-1.0pp $-105	-0.5pp $-139	base $-173	+0.5pp $-208	+1.0pp $-244

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: $33,750
• Closing costs: $4,050
• Reserves months: —
• Total cash needed: —

Listing history 23 events

1. 2026-06-22
   days on market $135,000 Active 59 DOM
2. 2026-06-21
   days on market $135,000 Active 58 DOM
3. 2026-06-21
   days on market $135,000 Active 57 DOM
4. 2026-06-18
   days on market $135,000 Active 55 DOM
5. 2026-06-17
   days on market $135,000 Active 54 DOM
6. 2026-06-16
   days on market $135,000 Active 53 DOM
7. 2026-06-15
   days on market $135,000 Active 52 DOM
8. 2026-06-13
   days on market $135,000 Active 50 DOM
9. 2026-06-12
   days on market $135,000 Active 49 DOM
10. 2026-06-09
    days on market $135,000 Active 46 DOM
11. 2026-06-08
    days on market $135,000 Active 45 DOM
12. 2026-06-07
    days on market $135,000 Active 44 DOM
13. 2026-06-07
    days on market $135,000 Active 43 DOM
14. 2026-06-04
    days on market $135,000 Active 40 DOM
15. 2026-06-02
    days on market $135,000 Active 39 DOM
16. 2026-06-01
    days on market $135,000 Active 38 DOM
17. 2026-05-31
    days on market $135,000 Active 37 DOM
18. 2026-05-31
    days on market $135,000 Active 36 DOM
19. 2026-04-24
    listed $135,000 Active 442-char remark
20. 2026-01-28
    status Active
21. 2025-12-07
    status Pending
22. 2025-09-10
    listed $135,000 Active
23. 2010-03-23
    soldstatus $23,500

ⓘ 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 ≥101°F today · 17 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: $11,543
• − Mortgage interest: −$7,562
• − Property taxes: −$2,025
• − Insurance: −$675
• − Repairs & maintenance: −$923
• − Management: −$923
• − Depreciation: −$3,927
• Taxable loss: −$4,493
• Est. tax savings @ 24.0%: +$1,078
• After-tax cash flow: $-998/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: Twin Lakes School Corporation
• NCES district ID: 1811580
• Math proficiency: 39% ▼ -10.00%
• Reading proficiency: 46% ▼ -5.00%
• Median HH income: $48,963
• Composite: 36.44/100
• National rank: #4666
• State rank: #116 of 301 in IN

Livability — Burnettsville

• Score: 61/100
• State rank: #498
• US rank: #17722

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Burnettsville, IN
• Population (ZIP): 916

Population outlook (White County) Hauer SSP2

• Today (2025): 23,006 people
• By 2030: 22,204 · -3.5%
• By 2040: 20,441 · -11.1%
• By 2050: 18,711 · -18.7%
• By 2075: 14,989 · -34.8%
• By 2100: 10,896 · -52.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (96%)
• Race & ethnicity: White 96% Hispanic / Latino 3% Two or more races 2%
• Common ancestry: Italian 3% Romanian 2% Slovak 2%

Political lean MEDSL · White

• 2024 margin: Solid R (+45.0) · D 26.4% · R 71.4% · Other 2.2%
• 2008→2024 swing: -36.7pp toward R · 2008: -8.3pp · 2024: -45.0pp
• All cycles: 2024: R+45.0 2020: R+44.1 2016: R+42.9 2012: R+23.6 2008: R+8.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 5.08%
• Current HPI: 219.708
• 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

+474.5% since first listed

5 events — show timeline

• 2026-04-24 Listed $135,000 IRMLS
• 2026-01-28 Relisted — IRMLS
• 2025-12-07 Pending — IRMLS
• 2025-09-10 Listed $135,000 IRMLS
• 2010-03-23 Sold (Public Records) $23,500 Public Records

Property tax history

+0.4%/yr

Latest (2024): $154 · +7.7% YoY. Source: county tax records.