323 Roosevelt Rd · Walkerton, IN 46574

$105,000

4 bd · 1.5 ba · 1,880 sqft · SingleFamily public records · 50 Days on market

Built 1905 4,845 sqft lot $56/sqft · 46% below area Est $194k · 46% under ↓ 12% since listing

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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 +26.0/30.0
• ARV discount +15.0/15.0
• DSCR +8.8/10.0
• 1% rule +8.0/10.0
• Schools +4.1/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Fixer upper opportunity! 4 bed, 1.5 bath 2-story home in Walkerton. 1,880 sqft + 808 sqft basement. Features: new roof (2025) and updated full bath (2023). Furnace (~20 yrs), NO central AC. Level lot with all public utilities. Great potential to add value. Sold As-Is. Perfect for flip or rental!

Key facts

• Updated full bath
• Level lot
• New roof

Tags

• NEW ROOF
• UPDATED FULL BATH
• LEVEL LOT
• PUBLIC UTILITIES

What this means for you Summary

Snapshot

• This is a 4-bed/1.5-bath single-family listed at $105k.

Deal economics

• At list price, monthly cash flow is $263 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $105k).
• Recommended offer: $102k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 64/100 on livability (#382 in IN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime B; Watch: employment C-, amenities F, commute F.
• John Glenn School Corporation (town): math 44% / reading 51% proficiency, ranked #75 of 301 in IN (top 25%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 64 active listings in the ZIP; 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 $726 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $29k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 50 days — a 3% lower offer ($102k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: property tax is 2.5% of price; built in 1905 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $101,850 (3.0% below list)

Questions for the listing agent

1. It's been on market 50 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1905 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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.
6. 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.
7. 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: 1.30% ✓
• Cap rate: 9.29%
• Cash-on-cash: 10.72%
• DSCR: 1.48
• GRM: 6.4

CMA / ARV

• ARV (median comp): $194,123
• List price: $105,000
• Delta: -45.91%
• 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
804 Van Buren St	0.34mi	4/1.5	1,982 (+5%)	1mo	$225,000	$114	74
901 Harrison St	0.38mi	3/1.0 (-1)	1,820 (-3%)	2mo	$85,350	$47	69
602 Ohio St	0.20mi	3/1.0 (-1)	2,016 (+7%)	12mo	$236,500	$117	62
1113 Harrison St	0.59mi	3/2.0 (-1)	1,918 (+2%)	11mo	$194,900	$102	53
503 Van Buren St	0.14mi	3/1.0 (-1)	1,633 (-13%)	16mo	$155,000	$95	51
104 Maine St	0.49mi	3/1.0 (-1)	1,608 (-14%)	1mo	$230,000	$143	45
904 Georgia St	0.67mi	3/2.0 (-1)	1,810 (-4%)	13mo	$205,000	$113	44
114 Lake St	0.68mi	3/1.0 (-1)	2,040 (+8%)	14mo	$235,000	$115	36

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: -0.2%
• Equity multiple: 0.99×
• Total profit: $-219
• Equity at exit: $15,656

10-year hold

• IRR: 9.5%
• Equity multiple: 1.74×
• Total profit: $21,646
• Equity at exit: $9,078

Cash invested: $29,400 (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 46574

• Home prices YoY: -17.2%
• Active inventory: 64
• Price-to-rent: 6.4×

Monthly cashflow live

• Estimated rent: $1,364 medium
• Mortgage (P&I): −$551
• Tax from tax record: −$220 /mo · $2,644/yr
• Insurance: −$44
• HOA: −$0
• Vacancy / Maint / Mgmt: −$286
• Net cashflow: $263

Break-even live

Break-even rent $1,031

Max offer price $105,000

Occupancy floor 76%

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: $26,250
• Closing costs: $3,150
• Reserves months: —
• Total cash needed: —

Listing history 13 events

1. 2026-06-10
   days on market $105,000 Active 50 DOM
2. 2026-06-09
   days on market $105,000 Active 49 DOM
3. 2026-06-08
   days on market $105,000 Active 48 DOM
4. 2026-06-07
   days on market $105,000 Active 47 DOM
5. 2026-06-05
   days on market $105,000 Active 44 DOM
6. 2026-06-03
   days on market $105,000 Active 43 DOM
7. 2026-06-02
   days on market $105,000 Active 42 DOM
8. 2026-06-01
   days on market $105,000 Active 41 DOM
9. 2026-05-31
   days on market $105,000 Active 40 DOM
10. 2026-05-30
    days on market $105,000 Active 39 DOM
11. 2026-05-08
    price $105,000 296-char remark

    Show marketing remark (296 chars)

    Fixer upper opportunity! 4 bed, 1.5 bath 2-story home in Walkerton. 1,880 sqft + 808 sqft basement. Features: new roof (2025) and updated full bath (2023). Furnace (~20 yrs), NO central AC. Level lot with all public utilities. Great potential to add value. Sold As-Is. Perfect for flip or rental!

12. 2026-05-05
    price $115,000 296-char remark

    Show marketing remark (296 chars)

    Fixer upper opportunity! 4 bed, 1.5 bath 2-story home in Walkerton. 1,880 sqft + 808 sqft basement. Features: new roof (2025) and updated full bath (2023). Furnace (~20 yrs), NO central AC. Level lot with all public utilities. Great potential to add value. Sold As-Is. Perfect for flip or rental!

13. 2026-04-21
    listed $120,000 Active 296-char remark

    Show marketing remark (296 chars)

    Fixer upper opportunity! 4 bed, 1.5 bath 2-story home in Walkerton. 1,880 sqft + 808 sqft basement. Features: new roof (2025) and updated full bath (2023). Furnace (~20 yrs), NO central AC. Level lot with all public utilities. Great potential to add value. Sold As-Is. Perfect for flip or rental!

ⓘ 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: $2,644 · $220/mo
• Projected year-2 tax: $2,644 · $220/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 3/10 Moderate
• 🌡 Heat 2/10 Low 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: $16,363
• − Mortgage interest: −$5,882
• − Property taxes: −$2,644
• − Insurance: −$525
• − Repairs & maintenance: −$1,309
• − Management: −$1,309
• − Depreciation: −$3,055
• Taxable income: $1,640
• Est. tax owed @ 24.0%: −$394
• After-tax cash flow: $2,757/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: John Glenn School Corporation
• NCES district ID: 1809120
• Math proficiency: 44% ▼ -14.00%
• Reading proficiency: 51% ▼ -8.00%
• Median HH income: $50,407
• Composite: 40.73/100
• National rank: #3657
• State rank: #75 of 301 in IN

Livability — Walkerton

• Score: 64/100
• State rank: #382
• US rank: #14183

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Walkerton, IN
• Population (ZIP): 7,414

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 (89%)
• Race & ethnicity: White 89% Hispanic / Latino 7% Two or more races 6%
• Hispanic origin (detail): Mexican 6%
• Common ancestry: Romanian 8% Slovak 2% Lithuanian 2%
• Foreign-born: 2% · Canada
• Languages at home: 96% English-only · Spanish 4%

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: ▼ -54.04%
• Current HPI: 260.7073
• 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

-12.5% since first listed

3 events — show timeline

• 2026-05-08 Price Changed $105,000 IRMLS
• 2026-05-05 Price Changed $115,000 IRMLS
• 2026-04-21 Listed $120,000 IRMLS

Property tax history

+3.8%/yr

Latest (2023): $2,644 · +0.0% YoY. Source: county tax records.