50985 Sturdy Oak Ln · Granger, IN 46530

$359,000

3 bd · 3.5 ba · 1,974 sqft · SingleFamily public records · 45 Days on market

Built 1981 0.39 ac lot $182/sqft · 10% above area Est $433k · 17% under

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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 +15.0/15.0
• Cash flow +7.0/30.0
• Schools +5.1/10.0
• Livability +3.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• DSCR +1.2/10.0
• 1% rule +1.1/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Back on the market due to no fault of the sellers! If you're looking for a great home located in a fantastic area in the Penn school district, look no further! This 3 bedroom, 3 full bath home has an amazing outdoor entertaining area equipped with a pool and a nice sized backyard. Don't miss the extra yard space and shed behind the pool! Near downtown Granger, you'll be able to walk to Martin's, Walgreen's and restaurants. Make sure to take advantage of the easy access to the biking trails as well! This house has had many updates over the past couple of years, including: new pool liner, new gas fireplace insert, newer windows, replaced well pump, newer appliances, as well as various cosmetic updates. See attached "features" sheet for a full list of updates on the home. You won't want to miss this one, so schedule your showing today!

Key facts

• 0.39 acre lot
• 2 garage spots
• Pool

Property features AI

Exterior

• Parking: Attached garage with garage door opener (2 car spaces)
• Utilities: Private well water; Private sewer
• Home design: Single-family residence (site-built); Two-story home
• Construction: Brick, stucco and vinyl siding exterior; Concrete perimeter foundation; Below-grade finished area present
• Exterior features: Privacy fencing; Private in-ground pool; Lot dimensions approximately 113 x 150

Interior

• Kitchen: Dishwasher; Microwave; Refrigerator; Gas range; Eat-in kitchen
• Bedrooms: Total rooms: 11
• Flooring: Carpet; Tile; Vinyl
• Bathrooms: Three full bathrooms; One main-level bathroom
• Heating & cooling: Forced air heating; Central air conditioning; Ceiling fans
• Interior features: Ceiling fans; Eat-in kitchen; Gas-started fireplace in the family room; Partial finished basement with sump pump
• Laundry & utility: Washer and dryer included; Gas dryer hookup on the main level

What this means for you Summary

Snapshot

• This is a 3-bed/3.5-bath single-family listed at $359k.

Deal economics

• At list price, monthly cash flow is $-523 ($-6k/yr) — negative.
• To cash-flow at today's rent, offer at most $267k (25.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $219k (39.1% below list).
• Recommended offer: $219k (39.1% below list) — sets the bar for 1% rule.
• Cap rate 4.5% vs local median 3.2% in Granger — 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 78/100 on livability (#33 in IN, #2,584 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, cost of living A+; Watch: amenities F, commute F.
• Penn-Harris-Madison School Corporation (suburban): math 54% / reading 64% proficiency, ranked #19 of 301 in IN (top 6%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Northpoint Elementary School (math 86% / reading 80%, grade A+, #3 of 994 statewide, top 0%, 614 students, 12% FRL); Discovery Middle School (math 57% / reading 75%, grade A-, #6 of 330 statewide, top 2%, 848 students, 17% FRL); Penn High School (math 53% / reading 83%, grade B, #22 of 369 statewide, top 6%, 3,624 students, 27% FRL) — zoned schools at 19% FRL track the district average.
• Zoned-school proficiency averages 72% at this address vs 59% district-wide (+13 pts) — the actual schools serving this property are materially stronger than the Penn-Harris-Madison School Corporation average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: 214 active listings in the ZIP; high-income renter base; 754 units permitted in St. Joseph County in 2024 (460 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $11k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 45 days — a 3% lower offer ($348k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 4y 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.

Recommended offer $218,533 (39.1% 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 45 days. Have you received any prior offers? Is the seller open to a 39% 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. Schools are A-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
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: 0.61% ✗
• Cap rate: 4.54%
• Cash-on-cash: -6.25%
• DSCR: 0.72
• GRM: 13.7

CMA / ARV

• ARV (median comp): $432,570
• List price: $359,000
• Delta: -17.01%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 8 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
13206 Adams Rd	0.30mi	3/2.0	1,849 (-6%)	1mo	$601,000	$325	68
51085 Woods Run Ct	0.19mi	3/2.5	1,914 (-3%)	18mo	$365,000	$191	67
13692 Wood Flower Ct	0.31mi	3/3.0	2,056 (+4%)	13mo	$430,000	$209	66
50880 Cherry Farm Trl	0.20mi	3/2.5	1,832 (-7%)	11mo	$335,000	$183	65
51399 Waywood Ct	0.63mi	3/2.0	2,042 (+3%)	5mo	$373,500	$183	54
13771 Kendallwood Dr	0.35mi	3/2.5	1,795 (-9%)	17mo	$349,000	$194	50
51201 Lexingham Dr	0.62mi	3/2.0	1,823 (-8%)	17mo	$454,000	$249	38
51663 Chestnut Rd	0.75mi	3/2.0	1,851 (-6%)	20mo	$315,000	$170	32

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: -27.1%
• Equity multiple: 0.09×
• Total profit: $-91,602
• Equity at exit: $53,528

10-year hold

• IRR: -25.1%
• Equity multiple: -0.22×
• Total profit: $-123,112
• Equity at exit: $31,040

Cash invested: $100,520 (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 46530

• Home prices YoY: -32.8%
• Active inventory: 214
• Price-to-rent: 13.7×

Monthly cashflow live

• Estimated rent: $2,185 medium
• Mortgage (P&I): −$1,883
• Tax from tax record: −$217 /mo · $2,608/yr
• Insurance: −$150
• HOA: −$0
• Vacancy / Maint / Mgmt: −$459
• Net cashflow: $-523

Break-even live

Break-even rent $2,848

Max offer price $266,586

Occupancy floor —

Sensitivity live

Price	-10% $-320	-5% $-422	+0% $-523	+5% $-625	+10% $-726
Rent	-10% $-696	-5% $-609	+0% $-523	+5% $-437	+10% $-350
Rate	-1.0pp $-342	-0.5pp $-432	base $-523	+0.5pp $-616	+1.0pp $-711

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: $89,750
• Closing costs: $10,770
• Reserves months: —
• Total cash needed: —

Listing history 19 events

1. 2026-06-21
   days on market $359,000 Active 45 DOM
2. 2026-06-18
   days on market $359,000 Active 42 DOM
3. 2026-06-17
   days on market $359,000 Active 41 DOM
4. 2026-06-16
   days on market $359,000 Active 40 DOM
5. 2026-06-15
   days on market $359,000 Active 39 DOM
6. 2026-06-14
   days on market $359,000 Active 37 DOM
7. 2026-06-13
   pricedays on market $359,000 Active 36 DOM
8. 2026-06-10
   days on market $365,000 Active 34 DOM
9. 2026-06-09
   days on market $365,000 Active 33 DOM
10. 2026-06-08
    days on market $365,000 Active 32 DOM
11. 2026-06-07
    days on market $365,000 Active 31 DOM
12. 2026-06-02
    days on market $365,000 Active 26 DOM
13. 2026-06-01
    days on market $365,000 Active 25 DOM
14. 2026-05-31
    days on market $365,000 Active 24 DOM
15. 2026-05-30
    days on market $365,000 Active 23 DOM
16. 2026-05-07
    listed $375,000 Active 516-char remark
17. 2022-03-15
    soldstatus $327,000 854-char remark

    Show marketing remark (854 chars)

    Back on the market due to no fault of the sellers! If you're looking for a great home located in a fantastic area in the Penn school district, look no further! This 3 bedroom, 3 full bath home has an amazing outdoor entertaining area equipped with a pool and a nice sized backyard. Don't miss the extra yard space and shed behind the pool! Near downtown Granger, you'll be able to walk to Martin's, Walgreen's and restaurants. Make sure to take advantage of the easy access to the biking trails as well! This house has had many updates over the past couple of years, including: new pool liner, new gas fireplace insert, newer windows, replaced well pump, newer appliances, as well as various cosmetic updates. See attached "features" sheet for a full list of updates on the home. You won't want to miss this one, so schedule your showing today!

18. 2022-02-10
    listed $300,000 854-char remark

    Show marketing remark (854 chars)

    Back on the market due to no fault of the sellers! If you're looking for a great home located in a fantastic area in the Penn school district, look no further! This 3 bedroom, 3 full bath home has an amazing outdoor entertaining area equipped with a pool and a nice sized backyard. Don't miss the extra yard space and shed behind the pool! Near downtown Granger, you'll be able to walk to Martin's, Walgreen's and restaurants. Make sure to take advantage of the easy access to the biking trails as well! This house has had many updates over the past couple of years, including: new pool liner, new gas fireplace insert, newer windows, replaced well pump, newer appliances, as well as various cosmetic updates. See attached "features" sheet for a full list of updates on the home. You won't want to miss this one, so schedule your showing today!

19. 2022-01-06
    listed $320,000

ⓘ 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: $2,608 · $217/mo
• Projected year-2 tax: $2,830 · $236/mo
• Expected delta: +$222/yr (+$18/mo · 8.5%)

ⓘ 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 2/10 Low 7 d/yr ≥99°F today · 15 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: $26,224
• − Mortgage interest: −$20,110
• − Property taxes: −$2,608
• − Insurance: −$1,795
• − Repairs & maintenance: −$2,098
• − Management: −$2,098
• − Depreciation: −$10,444
• Taxable loss: −$12,928
• Est. tax savings @ 24.0%: +$3,103
• After-tax cash flow: $-3,175/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: Penn-Harris-Madison School Corporation
• NCES district ID: 1808760
• Math proficiency: 54% ▼ -11.00%
• Reading proficiency: 64% ▼ -6.00%
• Median HH income: $59,421
• Composite: 51.11/100
• National rank: #1764
• State rank: #19 of 301 in IN

Livability — Granger

• Score: 78/100
• State rank: #33
• US rank: #2584

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Granger, IN
• County: Saint Joseph County · 189,048 people
• City population: 31,598
• Metro: South Bend-Mishawaka, IN-MI
• Population (ZIP): 31,598
• Household income: $122,129
• Rent vs Own: 15.6% rent · 84.4% own
• Severe rent burden: 671.0

Population outlook (St. Joseph County) Hauer SSP2

• Today (2025): 273,186 people
• By 2030: 273,594 · +0.1%
• By 2040: 271,641 · -0.6%
• By 2050: 269,187 · -1.5%
• By 2075: 263,136 · -3.7%
• By 2100: 245,659 · -10.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (80%)
• Race & ethnicity: White 80% Asian 7% Two or more races 7% Hispanic / Latino 6% Black 2%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Romanian 8% Slovak 3% Italian 3%
• Foreign-born: 8% · Canada, South Korea, China
• Languages at home: 89% English-only · Other Indo-European 3% Spanish 2% German/W. Germanic 1%

Political lean MEDSL · St. Joseph

• 2024 margin: Toss-up / Even · D 50.0% · R 48.5% · Other 1.5%
• 2008→2024 swing: -15.6pp toward R · 2008: 17.1pp · 2024: 1.5pp
• All cycles: 2024: D+1.5 2020: D+5.8 2016: D+0.2 2012: D+3.5 2008: D+17.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -94.73%
• Current HPI: 194.0944
• Rent YoY: —
• Metro: South Bend-Mishawaka, IN-MI
• 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

+12.2% since first listed

6 events — show timeline

• 2026-06-10 Price Changed $359,000 IRMLS
• 2026-05-27 Price Changed $365,000 IRMLS
• 2026-05-07 Listed $375,000 IRMLS
• 2022-03-15 Sold (MLS) $327,000 IRMLS
• 2022-02-10 Listed $300,000 IRMLS
• 2022-01-06 Listed $320,000 IRMLS

Property tax history

+8.1%/yr

Latest (2025): $2,608 · -0.4% YoY. Source: county tax records.