210 W Lake St · Laketon, IN 46943

$82,500

4 bd · 1.0 ba · 1,678 sqft · SingleFamily public records · 10 Days on market

Built 1953 0.40 ac lot Est $149k · 45% under

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Why this score? — see what drove the A- 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
• Appreciation +5.3/10.0
• Schools +3.8/10.0
• Livability +3.5/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

This house is move in ready. Completely remodeled from top to bottom. 4 bedrooms, 1 1/2 baths. Situated on a large corner lot, with 2 out buildings, mature trees and large deck. Just move in and enjoy!

Key facts

• Convenience to town
• Additional barn
• Detached garage

Tags

• DETACHED GARAGE
• ADDITIONAL BARN
• MATURE TREES
• CONVENIENCE TO TOWN

Property features AI

Finance

• HOA & community: No association amenities

Exterior

• Parking: Detached garage; One garage space; Gravel/off-street parking
• Utilities: Public water; Public sewer
• Home design: Single-family site-built home; One story; Stone foundation; Vinyl siding; Asphalt roof
• Construction: Vinyl siding construction; Stone foundation; Asphalt roof
• Exterior features: Deck; Covered porch; Porch; Level lot; Barn(s) on the property; Publicly maintained asphalt road access

Interior

• Kitchen: Laminate countertops (kitchen)
• Bedrooms: Total of 8 rooms (bedroom count not specified)
• Flooring: Hardwood; Carpet; Vinyl
• Bathrooms: One full bathroom; One half bathroom; One main-level bathroom
• Heating & cooling: Hot water/baseboard heating with zoning; Ceiling fan cooling (no central AC)
• Interior features: Ceiling fans; Laminate countertops; One fireplace (none specified as functional)
• Laundry & utility: Washer hookup on lower level; Full, unfinished basement

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $82k.

Deal economics

• At list price, monthly cash flow is $493 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $82k).

Location & tenants

• Location reads 69/100 on livability (#203 in IN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: crime C-, commute D, amenities F.
• Manchester Community Schools (town): math 44% / reading 46% proficiency, ranked #99 of 301 in IN (top 33%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Manchester Elementary School (math 67% / reading 62%, grade B, #78 of 994 statewide, top 9%, 454 students, 54% FRL); Manchester Jr-Sr High School (math 38% / reading 45%, grade F, #211 of 369 statewide, top 58%, 672 students, 50% FRL) — zoned schools average 52% FRL vs 36% district-wide (16 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 4 active listings in the ZIP; 42 units permitted in Wabash County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $1k of equity ($570 loan paydown + $437 appreciation (0.5% local appreciation)).
• Wabash County population projected at -16% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (0.5% appreciation + 3.0% rent growth), your $23k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• Only 10 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 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.
• Current owner paid $69k; 20% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1953 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $82,500

Questions for the listing agent

1. Built in 1953 — 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: 1.50% ✓
• Cap rate: 13.46%
• Cash-on-cash: 25.60%
• DSCR: 2.14
• GRM: 5.5

CMA / ARV

• ARV (on-the-fly): $149,342
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
51 N Main St	0.17mi	4/1.0	1,672 (-0%)	17mo	$148,000	$89	77

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

0.53% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 26.9%
• Equity multiple: 2.34×
• Total profit: $31,017
• Equity at exit: $26,162

10-year hold

• IRR: 30.0%
• Equity multiple: 4.49×
• Total profit: $80,515
• Equity at exit: $33,267

Cash invested: $23,100 (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 46943

• Home prices YoY: 0.2%
• Active inventory: 4
• Price-to-rent: 5.5×

Monthly cashflow live

• Estimated rent: $1,239 medium
• Mortgage (P&I): −$433
• Tax from tax record: −$19 /mo · $229/yr
• Insurance: −$34
• HOA: −$0
• Vacancy / Maint / Mgmt: −$260
• Net cashflow: $493

Break-even live

Break-even rent $615

Max offer price $82,500

Occupancy floor 55%

Sensitivity live

Price	-10% $540	-5% $516	+0% $493	+5% $469	+10% $446
Rent	-10% $395	-5% $444	+0% $493	+5% $542	+10% $591
Rate	-1.0pp $534	-0.5pp $514	base $493	+0.5pp $471	+1.0pp $450

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: $20,625
• Closing costs: $2,475
• Reserves months: —
• Total cash needed: —

Listing history 9 events

1. 2026-06-21
   days on market $82,500 Active 10 DOM
2. 2026-06-21
   days on market $82,500 Active 9 DOM
3. 2026-06-18
   days on market $82,500 Active 7 DOM
4. 2026-06-17
   days on market $82,500 Active 6 DOM
5. 2026-06-16
   days on market $82,500 Active 5 DOM
6. 2026-06-15
   days on market $82,500 Active 4 DOM
7. 2026-06-13
   days on market $82,500 Active 2 DOM
8. 2026-06-12
   remarks 278-char remark
9. 2026-06-12
   listed $82,500 Active 1 DOM

ⓘ 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: $229 · $19/mo
• Projected year-2 tax: $465 · $39/mo
• Expected delta: +$236/yr (+$20/mo · 103.2%)

ⓘ 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 · 17 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: $14,870
• − Mortgage interest: −$4,621
• − Property taxes: −$229
• − Insurance: −$412
• − Repairs & maintenance: −$1,190
• − Management: −$1,190
• − Depreciation: −$2,400
• Taxable income: $4,828
• Est. tax owed @ 24.0%: −$1,159
• After-tax cash flow: $4,755/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: Manchester Community Schools
• NCES district ID: 1806270
• Math proficiency: 44% ▼ -6.00%
• Reading proficiency: 46% ▼ -3.00%
• Median HH income: $45,846
• Composite: 38.24/100
• National rank: #4242
• State rank: #99 of 301 in IN

Livability — Laketon

• Score: 69/100
• State rank: #203
• US rank: #8990

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Laketon, IN
• City population: 113
• Population (ZIP): 113

Population outlook (Wabash County) Hauer SSP2

• Today (2025): 30,872 people
• By 2030: 29,933 · -3.0%
• By 2040: 27,877 · -9.7%
• By 2050: 25,887 · -16.1%
• By 2075: 22,404 · -27.4%
• By 2100: 19,461 · -37.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (96%)
• Race & ethnicity: White 96% Two or more races 4%

Political lean MEDSL · Wabash

• 2024 margin: Solid R (+50.8) · D 23.9% · R 74.7% · Other 1.4%
• 2008→2024 swing: -30.7pp toward R · 2008: -20.1pp · 2024: -50.8pp
• All cycles: 2024: R+50.8 2020: R+49.9 2016: R+50.7 2012: R+36.2 2008: R+20.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 0.53%
• Current HPI: 265.3201
• 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

+18.4% since first listed

3 events — show timeline

• 2026-06-11 Listed $82,500 IRMLS
• 2015-06-04 Sold (MLS) $69,000 IRMLS
• 2014-10-27 Listed $69,700 IRMLS

Property tax history

-6.9%/yr

Latest (2024): $229 · +11.9% YoY. Source: county tax records.