208 W Jay St · Dunkirk, IN 47336

$104,000

2 bd · 1.0 ba · 1,166 sqft · SingleFamily public records · 60 Days on market

Built 1916 3,920 sqft lot $89/sqft · 11% above area Est $94k · 11% over

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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).

• Cash flow +16.9/30.0
• Appreciation +6.8/10.0
• DSCR +5.3/10.0
• 1% rule +4.6/10.0
• Schools +3.2/10.0
• Livability +3.2/5.0
• ARV discount +2.7/15.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Step into this charming, move-in-ready 2-bedroom home that has been thoughtfully updated throughout. Recent improvements include new flooring, updated windows, durable vinyl siding, a high-efficiency gas furnace, water heater, and an upgraded electrical panel for added peace of mind. The spacious great room offers plenty of room for relaxing or entertaining, making it the perfect gathering space for family and friends. With its modern updates and inviting layout, this home is ready for you to settle in and enjoy. Don’t miss this opportunity to own a beautifully refreshed home with all the major updates already completed!

Key facts

• Durable vinyl siding
• Spacious great room
• Updated windows

Tags

• NEW FLOORING
• UPDATED WINDOWS
• DURABLE VINYL SIDING
• HIGH-EFFICIENCY GAS FURNACE
• UPGRADED ELECTRICAL PANEL
• SPACIOUS GREAT ROOM

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $104k.

Deal economics

• At list price, monthly cash flow is $69 ($829/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $100k (4.1% below list).
• Recommended offer: $100k (4.1% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 64/100 on livability (#404 in IN) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: health & safety D, amenities F, commute F.
• Jay School Corporation (rural): math 38% / reading 37% proficiency, ranked #175 of 301 in IN (top 58%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: West Jay Elementary (math 42% / reading 32%, grade F, #550 of 994 statewide, top 57%, 249 students, 75% FRL); Jay County Jr/Sr High School (math 34% / reading 41%, grade F, #245 of 369 statewide, top 67%, 1,242 students, 50% FRL) — zoned schools average 62% FRL vs 44% district-wide (19 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 34 active listings in the ZIP; 19 units permitted in Jay County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $5k of equity ($719 loan paydown + $4k appreciation (3.6% local appreciation)).
• Jay County population projected at -12% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (3.6% appreciation + 3.0% rent growth), your $29k cash investment doubles in ~5 years — after that, you're playing with house money.
• By year 8, paydown + projected appreciation supports a ~$33k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 60 days — a 3% lower offer ($101k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 2y 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 $85k; 22% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1916 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $99,722 (4.1% below list)

Questions for the listing agent

1. It's been on market 60 days. Have you received any prior offers? Is the seller open to a 4% concession, seller financing, or rate buy-down credit?
2. Built in 1916 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
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: 0.96% ✗
• Cap rate: 7.09%
• Cash-on-cash: 2.85%
• DSCR: 1.13
• GRM: 8.7

CMA / ARV

• ARV (median comp): $93,917
• List price: $104,000
• Delta: 10.74%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
324 W Jay St	0.09mi	3/1.0 (+1)	1,038 (-11%)	2mo	$163,000	$157	71
141 Highland Ave	0.61mi	2/1.0	1,165 (-0%)	4mo	$104,000	$89	68
434 N Main St	0.49mi	3/1.0 (+1)	1,146 (-2%)	3mo	$91,000	$79	67
201 S Meridian St	0.17mi	3/1.0 (+1)	1,312 (+12%)	5mo	$125,000	$95	62
922 S Main St	0.31mi	2/1.0	1,268 (+9%)	10mo	$55,500	$44	62
218 Moore Ave	0.30mi	3/1.5 (+1)	1,188 (+2%)	17mo	$135,000	$114	62
202 Shadyside St	0.68mi	2/1.0	1,224 (+5%)	1mo	$142,500	$116	59
702 S Franklin St	0.13mi	2/2.0	1,010 (-13%)	11mo	$135,000	$134	58
235 Moore Ave	0.33mi	3/1.5 (+1)	1,075 (-8%)	14mo	$163,000	$152	52
631 N Hickory St	0.59mi	3/2.0 (+1)	1,274 (+9%)	9mo	$142,000	$111	41
343 E Ohio St	0.68mi	3/1.0 (+1)	1,267 (+9%)	13mo	$100,000	$79	38
804 N Main St	0.70mi	3/1.0 (+1)	1,225 (+5%)	19mo	$112,500	$92	38

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

Projected returns pro-forma

3.64% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 11.9%
• Equity multiple: 1.70×
• Total profit: $20,508
• Equity at exit: $50,555

10-year hold

• IRR: 13.6%
• Equity multiple: 3.15×
• Total profit: $62,583
• Equity at exit: $80,999

Cash invested: $29,120 (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 47336

• Home prices YoY: 1.6%
• Active inventory: 34
• Price-to-rent: 8.7×

Monthly cashflow live

• Estimated rent: $997 medium
• Mortgage (P&I): −$545
• Tax est. 1.5%: −$130 /mo · $1,560/yr
• Insurance: −$43
• HOA: −$0
• Vacancy / Maint / Mgmt: −$209
• Net cashflow: $69

Break-even live

Break-even rent $910

Max offer price $104,000

Occupancy floor 88%

Sensitivity live

Price	-10% $141	-5% $105	+0% $69	+5% $33	+10% $-3
Rent	-10% $-10	-5% $30	+0% $69	+5% $108	+10% $148
Rate	-1.0pp $121	-0.5pp $96	base $69	+0.5pp $42	+1.0pp $15

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: $26,000
• Closing costs: $3,120
• Reserves months: —
• Total cash needed: —

Listing history 22 events

1. 2026-06-12
   statusdays on market $104,000 Pending 60 DOM
2. 2026-06-09
   days on market $104,000 Active 57 DOM
3. 2026-06-08
   days on market $104,000 Active 56 DOM
4. 2026-06-07
   days on market $104,000 Active 55 DOM
5. 2026-06-05
   days on market $104,000 Active 53 DOM
6. 2026-06-04
   days on market $104,000 Active 51 DOM
7. 2026-06-02
   days on market $104,000 Active 50 DOM
8. 2026-06-01
   days on market $104,000 Active 49 DOM
9. 2026-05-31
   days on market $104,000 Active 48 DOM
10. 2026-05-31
    days on market $104,000 Active 47 DOM
11. 2026-04-30
    price $104,000 634-char remark

    Show marketing remark (634 chars)

    Step into this charming, move-in-ready 2-bedroom home that has been thoughtfully updated throughout. Recent improvements include new flooring, updated windows, durable vinyl siding, a high-efficiency gas furnace, water heater, and an upgraded electrical panel for added peace of mind. The spacious great room offers plenty of room for relaxing or entertaining, making it the perfect gathering space for family and friends. With its modern updates and inviting layout, this home is ready for you to settle in and enjoy. Don’t miss this opportunity to own a beautifully refreshed home with all the major updates already completed!

12. 2026-04-13
    listed $109,000 Active 634-char remark

    Show marketing remark (634 chars)

    Step into this charming, move-in-ready 2-bedroom home that has been thoughtfully updated throughout. Recent improvements include new flooring, updated windows, durable vinyl siding, a high-efficiency gas furnace, water heater, and an upgraded electrical panel for added peace of mind. The spacious great room offers plenty of room for relaxing or entertaining, making it the perfect gathering space for family and friends. With its modern updates and inviting layout, this home is ready for you to settle in and enjoy. Don’t miss this opportunity to own a beautifully refreshed home with all the major updates already completed!

13. 2025-01-09
    soldstatus $85,000 Closed 240-char remark

    Show marketing remark (240 chars)

    Ready to move into - refreshed 2 bedroom home! This home features many new updates including flooring, windows, vinyl siding, high efficiency gas furnace, water heater, fuse panel, etc. The large great room has plenty of room for gathering.

14. 2025-01-09
    soldstatus $85,000 Closed

    Show marketing remark (240 chars)

    Ready to move into - refreshed 2 bedroom home! This home features many new updates including flooring, windows, vinyl siding, high efficiency gas furnace, water heater, fuse panel, etc. The large great room has plenty of room for gathering.

15. 2024-11-25
    status Pending

    Show marketing remark (240 chars)

    Ready to move into - refreshed 2 bedroom home! This home features many new updates including flooring, windows, vinyl siding, high efficiency gas furnace, water heater, fuse panel, etc. The large great room has plenty of room for gathering.

16. 2024-11-25
    status Pending 240-char remark

    Show marketing remark (240 chars)

    Ready to move into - refreshed 2 bedroom home! This home features many new updates including flooring, windows, vinyl siding, high efficiency gas furnace, water heater, fuse panel, etc. The large great room has plenty of room for gathering.

17. 2024-11-16
    status Active 240-char remark

    Show marketing remark (240 chars)

    Ready to move into - refreshed 2 bedroom home! This home features many new updates including flooring, windows, vinyl siding, high efficiency gas furnace, water heater, fuse panel, etc. The large great room has plenty of room for gathering.

18. 2024-11-16
    status Active

    Show marketing remark (240 chars)

    Ready to move into - refreshed 2 bedroom home! This home features many new updates including flooring, windows, vinyl siding, high efficiency gas furnace, water heater, fuse panel, etc. The large great room has plenty of room for gathering.

19. 2024-11-01
    status Pending 240-char remark

    Show marketing remark (240 chars)

    Ready to move into - refreshed 2 bedroom home! This home features many new updates including flooring, windows, vinyl siding, high efficiency gas furnace, water heater, fuse panel, etc. The large great room has plenty of room for gathering.

20. 2024-11-01
    status Pending

    Show marketing remark (240 chars)

    Ready to move into - refreshed 2 bedroom home! This home features many new updates including flooring, windows, vinyl siding, high efficiency gas furnace, water heater, fuse panel, etc. The large great room has plenty of room for gathering.

21. 2024-10-31
    listed $89,900 Active 240-char remark

    Show marketing remark (240 chars)

    Ready to move into - refreshed 2 bedroom home! This home features many new updates including flooring, windows, vinyl siding, high efficiency gas furnace, water heater, fuse panel, etc. The large great room has plenty of room for gathering.

22. 2024-10-31
    listed $89,900 Active

    Show marketing remark (240 chars)

    Ready to move into - refreshed 2 bedroom home! This home features many new updates including flooring, windows, vinyl siding, high efficiency gas furnace, water heater, fuse panel, etc. The large great room has plenty of room for gathering.

ⓘ 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 ≥99°F today · 18 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $11,967
• − Mortgage interest: −$5,826
• − Property taxes: −$1,560
• − Insurance: −$520
• − Repairs & maintenance: −$957
• − Management: −$957
• − Depreciation: −$3,025
• Taxable loss: −$879
• Est. tax savings @ 24.0%: +$211
• After-tax cash flow: $1,040/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: Jay School Corporation
• NCES district ID: 1804980
• Math proficiency: 38% ▼ -13.00%
• Reading proficiency: 37% ▼ -13.00%
• Median HH income: $40,841
• Composite: 31.56/100
• National rank: #5954
• State rank: #175 of 301 in IN

Livability — Dunkirk

• Score: 64/100
• State rank: #404
• US rank: #14764

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Dunkirk, IN
• Population (ZIP): 2,793

Population outlook (Jay County) Hauer SSP2

• Today (2025): 20,586 people
• By 2030: 20,155 · -2.1%
• By 2040: 19,274 · -6.4%
• By 2050: 18,203 · -11.6%
• By 2075: 15,062 · -26.8%
• By 2100: 10,857 · -47.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (95%)
• Race & ethnicity: White 95% Two or more races 3% Hispanic / Latino 2%
• Common ancestry: Italian 4% Slovak 2% Scotch-Irish 1%
• Foreign-born: 0%
• Languages at home: 98% English-only · Spanish 1%

Political lean MEDSL · Jay

• 2024 margin: Solid R (+55.2) · D 21.6% · R 76.7% · Other 1.7%
• 2008→2024 swing: -47.3pp toward R · 2008: -7.8pp · 2024: -55.2pp
• All cycles: 2024: R+55.2 2020: R+52.4 2016: R+47.8 2012: R+20.0 2008: R+7.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 3.64%
• Current HPI: 238.768
• 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

+15.7% since first listed

12 events — show timeline

• 2026-04-30 Price Changed $104,000 IRMLS
• 2026-04-13 Listed $109,000 IRMLS
• 2025-01-09 Sold (MLS) $85,000 IRMLS
• 2025-01-09 Sold (MLS) $85,000 RRELMS
• 2024-11-25 Pending — IRMLS
• 2024-11-25 Pending — RRELMS
• 2024-11-16 Relisted — RRELMS
• 2024-11-16 Relisted — IRMLS
• 2024-11-01 Pending — RRELMS
• 2024-11-01 Pending — IRMLS
• 2024-10-31 Listed $89,900 RRELMS
• 2024-10-31 Listed $89,900 IRMLS

Property tax history

+2.1%/yr

Latest (2024): $140 · -2.6% YoY. Source: county tax records.