313 S 7th St · Goshen, IN 46528

$179,900

2 bd · 1.0 ba · 2,196 sqft · SingleFamily public records

Built 1860 6,970 sqft lot Est $235k · 23% under

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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 +22.9/30.0
• ARV discount +15.0/15.0
• DSCR +7.3/10.0
• 1% rule +5.4/10.0
• Livability +4.2/5.0
• 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

Duplex with good tenant history. One tenant has been there 15 years, the other tenant 4 years. Owner said both pay on time, sometimes early, both tenants are hoping to stay with property sale. Shared laundry area in basement. Utilities are not split, utilities are included in the rent. Upper level unit has 2 bedrooms and 1 bath. Main level unit has one designated bedroom, but depending on how you use the other rooms, can be 2 bedrooms. Current tenants are on month to month as new lease has not been signed.

Key facts

• 6,970 sq ft lot
• Built 1860

🏷️ Possibly a rental listed for sale. The $179,900 price doesn't fit this home's estimated sale value (~$234,972) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $180k.

Deal economics

• At list price, monthly cash flow is $316 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $180k).
• Cap rate 8.4% vs local median 3.2% in Goshen — 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 85/100 on livability (#4 in IN, #622 nationally) — a professional / high-income tenant draw. Strengths: commute A+, cost of living A+, housing A+; Watch: employment D+.
• Goshen Community Schools (urban): math 31% / reading 40% proficiency, ranked #190 of 301 in IN (top 63%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: West Goshen Elementary School (math 32% / reading 37%, grade F, #597 of 994 statewide, top 63%, 247 students, 83% FRL); Goshen Junior High School (math 25% / reading 38%, grade F, #197 of 330 statewide, top 60%, 1,001 students, 70% FRL); Goshen High School (math 32% / reading 65%, grade D, #139 of 369 statewide, top 38%, 2,004 students, 64% FRL).
• Market conditions: 77 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 484 units permitted in Elkhart County in 2024 (136 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• Elkhart County population projected at +7% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• Only 0 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 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 $55k; list at $180k implies a 227% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1860 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $179,900

Questions for the listing agent

1. Built in 1860 — 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. 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.
5. 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.
6. 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: 1.04% ✓
• Cap rate: 8.40%
• Cash-on-cash: 7.52%
• DSCR: 1.33
• GRM: 8.0

CMA / ARV

• ARV (on-the-fly): $234,972
• Comps found: 8

Show comp detail 8 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
313 S 7th St	0.00mi	3/2.0 (+1)	2,196 (0%)	0mo	$181,000	$82	91
508 S 6th St	0.17mi	3/1.5 (+1)	2,079 (-5%)	10mo	$222,000	$107	68
309 E Madison St	0.04mi	3/1.5 (+1)	1,984 (-10%)	9mo	$210,000	$106	67
215 S 7th St	0.08mi	3/1.5 (+1)	1,977 (-10%)	9mo	$239,900	$121	65
801 S 6th St	0.47mi	3/2.0 (+1)	2,218 (+1%)	5mo	$315,000	$142	64
1001 S 12th St	0.73mi	3/1.0 (+1)	2,176 (-1%)	3mo	$200,000	$92	57
1014 S Main St	0.68mi	2/1.0	2,296 (+5%)	11mo	$145,000	$63	51
412 E Monroe St	0.15mi	3/2.0 (+1)	1,878 (-14%)	13mo	$207,500	$110	49

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: -4.8%
• Equity multiple: 0.82×
• Total profit: $-9,059
• Equity at exit: $26,824

10-year hold

• IRR: 4.8%
• Equity multiple: 1.36×
• Total profit: $17,933
• Equity at exit: $15,554

Cash invested: $50,372 (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 46528

• Home prices YoY: -26.9%
• Active inventory: 77
• Price-to-rent: 8.0×

Monthly cashflow live

• Estimated rent: $1,878 medium
• Mortgage (P&I): −$943
• Tax from tax record: −$149 /mo · $1,789/yr
• Insurance: −$75
• HOA: −$0
• Vacancy / Maint / Mgmt: −$394
• Net cashflow: $316

Break-even live

Break-even rent $1,478

Max offer price $179,900

Occupancy floor 78%

Sensitivity live

Price	-10% $418	-5% $367	+0% $316	+5% $265	+10% $214
Rent	-10% $167	-5% $242	+0% $316	+5% $390	+10% $464
Rate	-1.0pp $406	-0.5pp $362	base $316	+0.5pp $269	+1.0pp $222

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: $44,975
• Closing costs: $5,397
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1401 Park 33 Blvd Goshen, IN	1.0–3.0	1.0–2.0	1170	$1,878	$1.60	22d	20	1.12mi

Listing history 5 events

1. 2026-04-12
   status Pending 511-char remark

   Show marketing remark (511 chars)

   Duplex with good tenant history. One tenant has been there 15 years, the other tenant 4 years. Owner said both pay on time, sometimes early, both tenants are hoping to stay with property sale. Shared laundry area in basement. Utilities are not split, utilities are included in the rent. Upper level unit has 2 bedrooms and 1 bath. Main level unit has one designated bedroom, but depending on how you use the other rooms, can be 2 bedrooms. Current tenants are on month to month as new lease has not been signed.

2. 2026-04-12
   historical

   Show marketing remark (511 chars)

   Duplex with good tenant history. One tenant has been there 15 years, the other tenant 4 years. Owner said both pay on time, sometimes early, both tenants are hoping to stay with property sale. Shared laundry area in basement. Utilities are not split, utilities are included in the rent. Upper level unit has 2 bedrooms and 1 bath. Main level unit has one designated bedroom, but depending on how you use the other rooms, can be 2 bedrooms. Current tenants are on month to month as new lease has not been signed.

3. 2026-04-09
   listed $179,900 Active 511-char remark

   Show marketing remark (511 chars)

   Duplex with good tenant history. One tenant has been there 15 years, the other tenant 4 years. Owner said both pay on time, sometimes early, both tenants are hoping to stay with property sale. Shared laundry area in basement. Utilities are not split, utilities are included in the rent. Upper level unit has 2 bedrooms and 1 bath. Main level unit has one designated bedroom, but depending on how you use the other rooms, can be 2 bedrooms. Current tenants are on month to month as new lease has not been signed.

4. 2026-04-09
   listed $179,900

   Show marketing remark (511 chars)

   Duplex with good tenant history. One tenant has been there 15 years, the other tenant 4 years. Owner said both pay on time, sometimes early, both tenants are hoping to stay with property sale. Shared laundry area in basement. Utilities are not split, utilities are included in the rent. Upper level unit has 2 bedrooms and 1 bath. Main level unit has one designated bedroom, but depending on how you use the other rooms, can be 2 bedrooms. Current tenants are on month to month as new lease has not been signed.

5. 2000-02-28
   soldstatus $55,000

ⓘ 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: $1,789 · $149/mo
• Projected year-2 tax: $1,789 · $149/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 ≥100°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: $22,530
• − Mortgage interest: −$10,077
• − Property taxes: −$1,789
• − Insurance: −$900
• − Repairs & maintenance: −$1,802
• − Management: −$1,802
• − Depreciation: −$5,233
• Taxable income: $926
• Est. tax owed @ 24.0%: −$222
• After-tax cash flow: $3,567/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: Goshen Community Schools
• NCES district ID: 1803930
• Math proficiency: 31% ▼ -11.00%
• Reading proficiency: 40% ▼ -4.00%
• Median HH income: $44,892
• Composite: 30.24/100
• National rank: #6292
• State rank: #190 of 301 in IN

Livability — Goshen

• Score: 85/100
• State rank: #4
• US rank: #622

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Goshen, IN
• City population: 33,668
• Population (ZIP): 26,356

Population outlook (Elkhart County) Hauer SSP2

• Today (2025): 213,761 people
• By 2030: 218,103 · +2.0%
• By 2040: 225,381 · +5.4%
• By 2050: 229,447 · +7.3%
• By 2075: 232,856 · +8.9%
• By 2100: 214,088 · +0.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (76%)
• Race & ethnicity: White 76% Hispanic / Latino 19% Two or more races 7% Black 2% Asian 1%
• Hispanic origin (detail): Mexican 16%
• Common ancestry: Italian 3% Iranian 2% Polish 2%
• Foreign-born: 9% · Canada, South Korea, Jamaica
• Languages at home: 73% English-only · Spanish 14% German/W. Germanic 11% Russian/Polish/Slavic 1%

Political lean MEDSL · Elkhart

• 2024 margin: Solid R (+32.4) · D 33.1% · R 65.5% · Other 1.4%
• 2008→2024 swing: -21.2pp toward R · 2008: -11.2pp · 2024: -32.4pp
• All cycles: 2024: R+32.4 2020: R+28.1 2016: R+32.4 2012: R+26.5 2008: R+11.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -85.40%
• Current HPI: 231.4441
• 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

+227.1% since first listed

5 events — show timeline

• 2026-04-12 Pending — IRMLS
• 2026-04-12 Delisted — IRMLS
• 2026-04-09 Listed $179,900 IRMLS
• 2026-04-09 Listed $179,900 IRMLS
• 2000-02-28 Sold (Public Records) $55,000 Public Records

Property tax history

-4.0%/yr

Latest (2025): $1,789 · -4.7% YoY. Source: county tax records.