244 E Kruzan St · Brazil, IN 47834

$54,900

2 bd · 1.0 ba · 992 sqft · SingleFamily public records · 71 Days on market

Built 1898 7,405 sqft lot $55/sqft · 51% below area

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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
• DSCR +10.0/10.0
• 1% rule +8.8/10.0
• ARV discount +7.5/15.0
• Schools +4.0/10.0
• Livability +3.3/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Located on a corner lot near the YMCA in Brazil. Currently a rental property. 3-bedroom, 2-bath. The current renter has been in place for 6 years. Property is being sold As Is.

Key facts

• 7,405 sq ft lot
• Garage
• Built 1898

🏷️ Possibly a rental listed for sale. The $54,900 price doesn't fit this home's estimated sale value (~$111,872) 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 $55k.

Deal economics

• At list price, monthly cash flow is $163 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($759 rent vs $55k).
• Recommended offer: $52k (6.0% below list) — sets the bar for market timing.
• Cap rate 11.3% vs local median 2.6% in Brazil — 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 66/100 on livability (#308 in IN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: crime F, amenities F, commute F.
• Clay Community Schools (rural): math 46% / reading 49% proficiency, ranked #79 of 301 in IN (top 26%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 95 active listings in the ZIP; 70 units permitted in Clay County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $380 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Clay County population projected at -16% 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 $15k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 71 days — a 6% lower offer ($52k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo; built in 1898 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $51,606 (6.0% below list)

Questions for the listing agent

1. It's been on market 71 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 1898 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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. Crime grade is F 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?
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: 1.38% ✓
• Cap rate: 11.30%
• Cash-on-cash: 17.88%
• DSCR: 1.80
• GRM: 6.0

CMA / ARV

• ARV (median comp): $111,872
• List price: $54,900
• Delta: -50.93%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
244 E Kruzan St	0.00mi	3/1.0 (+1)	992 (0%)	1mo	$46,500	$47	94
618 N Walnut St St	0.28mi	2/1.0	956 (-4%)	1mo	$110,000	$115	80
410 E Vermont St	0.25mi	2/1.0	952 (-4%)	3mo	$136,500	$143	79
409 N Columbia St	0.32mi	3/2.0 (+1)	1,018 (+3%)	2mo	$165,000	$162	70
803 N Forest Ave	0.31mi	3/1.0 (+1)	1,060 (+7%)	3mo	$61,500	$58	67
516 W Logan St	0.56mi	2/1.0	1,031 (+4%)	4mo	$11,500	$11	64
135 N Davis St	0.61mi	2/1.0	1,032 (+4%)	7mo	$155,000	$150	59
410 E Illinois St	0.42mi	2/1.0	1,107 (+12%)	2mo	$175,000	$158	59
308 N Ashley St	0.39mi	2/1.0	1,105 (+11%)	8mo	$50,000	$45	57
328 E Georgia St	0.30mi	3/2.0 (+1)	1,120 (+13%)	1mo	$97,000	$87	55
1307 Pinecrest Dr	0.74mi	3/1.0 (+1)	1,000 (+1%)	6mo	$77,250	$77	54
428 E Vermont St	0.26mi	2/1.0	854 (-14%)	14mo	$100,000	$117	53

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: $1,502
• Equity at exit: $8,186

10-year hold

• IRR: 12.2%
• Equity multiple: 1.96×
• Total profit: $14,828
• Equity at exit: $4,747

Cash invested: $15,372 (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 47834

• Home prices YoY: -20.8%
• Active inventory: 95
• Price-to-rent: 6.0×

Monthly cashflow live

• Estimated rent: $759 medium
• Mortgage (P&I): −$288
• Tax from tax record: −$60 /mo · $721/yr
• Insurance: −$23
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$159
• Net cashflow: $163

Break-even live

Break-even rent $554

Max offer price $54,900

Occupancy floor 74%

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: $13,725
• Closing costs: $1,647
• Reserves months: —
• Total cash needed: —

Listing history 1 events

1. 2026-03-12
   listed $54,900 Active 176-char remark

   Show marketing remark (176 chars)

   Located on a corner lot near the YMCA in Brazil. Currently a rental property. 3-bedroom, 2-bath. The current renter has been in place for 6 years. Property is being sold As Is.

ⓘ 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: $721 · $60/mo
• Projected year-2 tax: $721 · $60/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 7/10 Severe FEMA zone X (unshaded) · 75% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 4/10 Moderate 7 d/yr ≥104°F today · 19 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $9,111
• − Mortgage interest: −$3,075
• − Property taxes: −$721
• − Insurance: −$1,072
• − Repairs & maintenance: −$729
• − Management: −$729
• − Depreciation: −$1,597
• Taxable income: $1,188
• Est. tax owed @ 24.0%: −$285
• After-tax cash flow: $1,665/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: Clay Community Schools
• NCES district ID: 1800840
• Math proficiency: 46% ▼ -6.00%
• Reading proficiency: 49% ▼ -1.00%
• Median HH income: $46,673
• Composite: 40.39/100
• National rank: #3733
• State rank: #79 of 301 in IN

Livability — Brazil

• Score: 66/100
• State rank: #308
• US rank: #12163

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Brazil, IN
• City population: 18,773
• Population (ZIP): 18,773

Population outlook (Clay County) Hauer SSP2

• Today (2025): 25,820 people
• By 2030: 25,182 · -2.5%
• By 2040: 23,562 · -8.7%
• By 2050: 21,829 · -15.5%
• By 2075: 17,939 · -30.5%
• By 2100: 14,042 · -45.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (94%)
• Race & ethnicity: White 94% Two or more races 4% Hispanic / Latino 2%
• Common ancestry: Slovak 1% Iranian 1% Italian 1%
• Foreign-born: 1% · Canada, Jamaica
• Languages at home: 99% English-only · Spanish 1%

Political lean MEDSL · Clay

• 2024 margin: Solid R (+56.9) · D 20.7% · R 77.6% · Other 1.7%
• 2008→2024 swing: -45.4pp toward R · 2008: -11.5pp · 2024: -56.9pp
• All cycles: 2024: R+56.9 2020: R+56.6 2016: R+55.3 2012: R+31.4 2008: R+11.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -58.68%
• Current HPI: 223.6707
• 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

1 event — show timeline

• 2026-03-12 Listed $54,900 THAAR

Property tax history

+1.6%/yr

Latest (2024): $721 · +2.6% YoY. Source: county tax records.