201 N Main St · Wanatah, IN 46390

$200,000

3 bd · 1.0 ba · 1,496 sqft · SingleFamily public records · 4 Days on market

Built 1902 0.40 ac lot Est $281k · 29% under

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Why this score? — see what drove the C+ 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 +21.0/30.0
• ARV discount +15.0/15.0
• DSCR +6.7/10.0
• Schools +5.0/10.0
• 1% rule +4.5/10.0
• Livability +3.6/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

LOTS OF VICTORIAN CHARM WITH POCKET DOORS, FRENCH DOORS, OPEN STAIRCASE, TRANSOMS AND WIDE YELLOW PINE BOARD FLOORS. THIRD FLOOR POTENTIAL. HOME COMES WITH AN ADDITIONAL LANDSCAPED LOT.

Key facts

• 0.4 acre lot
• Garage
• Built 1902

Property features AI

Finance

• Other: Property is currently vacant

Exterior

• Parking: Detached garage; Garage faces side; Off-street parking; 1 garage space
• Utilities: Public water; Public sewer; 100 Amp electric service; Natural gas connected; Electricity connected; Cable available
• Home design: Two-story house; Built in 1902; Entry includes a foyer
• Construction: Vinyl siding; Shingle roof; Crawl space basement (unfinished) with storage space and sump pump; Has basement
• Exterior features: Covered front porch; Enclosed porch; Deck; Neighborhood and park/greenbelt views; Other detached garage structure

Interior

• Kitchen: Gas range; Refrigerator
• Bedrooms: Primary bedroom; Bedroom 2; Bedroom 3; Office (can be used as bedroom/office); Bedrooms located on multiple levels
• Flooring: Hardwood; Carpet; Linoleum
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating (natural gas); Ceiling fans for cooling
• Interior features: Ceiling fans; High ceilings; Entrance foyer; Crown molding
• Laundry & utility: Washer hookup on main level; Gas dryer hookup; Gas water heater

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $200k.

Deal economics

• At list price, monthly cash flow is $283 ($3k/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 $190k (5.0% below list).
• Recommended offer: $190k (5.0% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 72/100 on livability (#113 in IN) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: schools C-, employment C-, amenities F.
• Market conditions: 6 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 216 units permitted in LaPorte County in 2024 (75 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• LaPorte County population projected to shrink 7% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.

Negotiation context

• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts since 26y 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 $119k; list at $200k implies a 68% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1902 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $190,000 (5.0% below list)

Questions for the listing agent

1. Built in 1902 — 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. 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.
4. 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.
5. 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: 0.95% ✗
• Cap rate: 7.99%
• Cash-on-cash: 6.06%
• DSCR: 1.27
• GRM: 8.8

CMA / ARV

• ARV (on-the-fly): $281,248
• Comps found: 9

Show comp detail 9 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
106 N Illinois St #266	0.05mi	3/2.5	1,467 (-2%)	8mo	$280,000	$191	82
405 N Illinois St	0.19mi	3/1.5	1,530 (+2%)	24mo	$260,000	$170	66
604 Condon Rd	0.44mi	3/2.0	1,500 (+0%)	20mo	$299,900	$200	58
111 W Carrie Ave	0.41mi	3/3.0	1,440 (-4%)	13mo	$240,000	$167	56
601 Post St	0.36mi	3/1.5	1,288 (-14%)	4mo	$249,900	$194	55
202 E Cross St	0.09mi	3/2.5	1,642 (+10%)	24mo	$309,000	$188	54
627 Fieldcrest Cir	0.51mi	3/2.5	1,600 (+7%)	7mo	$287,000	$179	53
601 Grassfork Ct	0.44mi	3/2.0	1,415 (-5%)	19mo	$255,000	$180	50
108 Lura St	0.44mi	3/2.0	1,393 (-7%)	17mo	$295,000	$212	49

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: -7.0%
• Equity multiple: 0.74×
• Total profit: $-14,470
• Equity at exit: $29,821

10-year hold

• IRR: 2.6%
• Equity multiple: 1.18×
• Total profit: $10,298
• Equity at exit: $17,292

Cash invested: $56,000 (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 46390

• Home prices YoY: -24.5%
• Active inventory: 6
• Price-to-rent: 8.8×

Monthly cashflow live

• Estimated rent: $1,900 medium
• Mortgage (P&I): −$1,049
• Tax from tax record: −$86 /mo · $1,033/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$399
• Net cashflow: $283

Break-even live

Break-even rent $1,542

Max offer price $200,000

Occupancy floor 80%

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: $50,000
• Closing costs: $6,000
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
110 W Carrie Ave Wanatah, IN	3.0	2.0	1550	$1,900	$1.23	1d	1	0.36mi

Listing history 7 events

1. 2026-05-01
   status Pending
2. 2026-04-27
   listed $200,000 Active
3. 2007-04-02
   historical
4. 2006-09-25
   listed $149,990
5. 2005-11-07
   soldstatus $119,019
6. 2005-04-18
   listed $119,900 185-char remark

   Show marketing remark (185 chars)

   LOTS OF VICTORIAN CHARM WITH POCKET DOORS, FRENCH DOORS, OPEN STAIRCASE, TRANSOMS AND WIDE YELLOW PINE BOARD FLOORS. THIRD FLOOR POTENTIAL. HOME COMES WITH AN ADDITIONAL LANDSCAPED LOT.

7. 2000-10-03
   listed $93,900

ⓘ 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: $1,033 · $86/mo
• Projected year-2 tax: $1,366 · $114/mo
• Expected delta: +$334/yr (+$28/mo · 32.3%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone X (unshaded) · 22% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 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: $22,800
• − Mortgage interest: −$11,203
• − Property taxes: −$1,033
• − Insurance: −$1,000
• − Repairs & maintenance: −$1,824
• − Management: −$1,824
• − Depreciation: −$5,818
• Taxable income: $98
• Est. tax owed @ 24.0%: −$24
• After-tax cash flow: $3,370/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)

No district data.

Livability — Wanatah

• Score: 72/100
• State rank: #113
• US rank: #6153

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Wanatah, IN
• Population (ZIP): 2,965

Population outlook (LaPorte County) Hauer SSP2

• Today (2025): 109,757 people
• By 2030: 108,288 · -1.3%
• By 2040: 105,070 · -4.3%
• By 2050: 102,330 · -6.8%
• By 2075: 97,009 · -11.6%
• By 2100: 86,459 · -21.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (94%)
• Race & ethnicity: White 94% Two or more races 3% Hispanic / Latino 2% Asian 2%
• Common ancestry: Romanian 11% Iranian 2% Hungarian 1%
• Foreign-born: 2%
• Languages at home: 97% English-only · Other Asian/Pacific 1%

Political lean MEDSL · LaPorte

• 2024 margin: R (+14.1) · D 42.1% · R 56.2% · Other 1.7%
• 2008→2024 swing: -19.1pp toward R · 2008: 5.0pp · 2024: -14.1pp
• All cycles: 2024: R+14.1 2020: R+7.2 2016: R+6.4 2012: D+12.6 2008: D+5.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -68.92%
• Current HPI: 212.6215
• 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

+113.0% since first listed

7 events — show timeline

• 2026-05-01 Pending — NIRA MLS as Distributed by MLS Grid
• 2026-04-27 Listed $200,000 NIRA MLS as Distributed by MLS Grid
• 2007-04-02 Listing Removed — NIRA MLS as Distributed by MLS Grid
• 2006-09-25 Listed $149,990 NIRA MLS as Distributed by MLS Grid
• 2005-11-07 Sold (Public Records) $119,019 Public Records
• 2005-04-18 Listed $119,900 NIRA MLS as Distributed by MLS Grid
• 2000-10-03 Listed $93,900 NIRA MLS as Distributed by MLS Grid

Property tax history

+14.2%/yr

Latest (2024): $1,033 · +9.4% YoY. Source: county tax records.