7976 N Tecumseh Rd · Koontz Lake, IN 46574

$110,000

2 bd · 1.0 ba · 900 sqft · SingleFamily public records · 171 Days on market

Built 1941 7,500 sqft lot $122/sqft · 16% below area Est $131k · 16% 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 +25.1/30.0
• ARV discount +14.8/15.0
• DSCR +8.2/10.0
• 1% rule +5.8/10.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Lake Life just got a little easier!! Another price reduction!! You need to check this one out before the weather turns and it's gone! This is a 2 bedroom, 1 bath with an attached garage that sits on a double lot with a storage shed allowing plenty of space for your toys. You'll want to add your touch on the paint and flooring but this house is solid and will make a great cottage for years. You'll be especially impressed with the size of the rear screened in porch for entertaining your friends. Bring your Jet-skis, Wakeboards, Kayaks or your Pontoons and enjoy your summer on beautiful Koontz Lake in Indiana. A convenient public Park strip at Kramer's Beach Public Access is just minutes away and up the street is a Public access where you can launch your equipment. Limited parking but you're so close to home already. This is a great investment and definitely worth your time to check it out! Schedule your private tour today and write us an offer! Reduced to $110,000.

Key facts

• Double lot
• Storage shed
• 7,500 sq ft lot

Tags

• DOUBLE LOT
• STORAGE SHED
• REAR SCREENED IN PORCH
• KRAMER'S BEACH PUBLIC ACCESS

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $110k.

Deal economics

• At list price, monthly cash flow is $243 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $110k).
• Recommended offer: $97k (12.0% below list) — sets the bar for market timing.
• Cap rate 8.9% vs local median 3.1% in Koontz Lake — 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 61/100 on livability (#516 in IN) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A-; Watch: employment D+, schools F, amenities F.
• Oregon-Davis School Corporation (rural): math 19% / reading 34% proficiency, ranked #257 of 301 in IN (top 85%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 64 active listings in the ZIP; 58 units permitted in Starke County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $761 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Starke County population projected at -23% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 171 days — a 12% lower offer ($97k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 17y ago; this cycle's ask has dropped $15k (12%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $48k; list at $110k implies a 129% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1941 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $96,800 (12.0% below list)

Questions for the listing agent

1. It's been on market 171 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1941 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
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: 1.08% ✓
• Cap rate: 8.94%
• Cash-on-cash: 9.47%
• DSCR: 1.42
• GRM: 7.7

CMA / ARV

• ARV (median comp): $131,443
• List price: $110,000
• Delta: -16.31%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
7976 N Tecumseh Rd	0.00mi	2/1.0	900 (0%)	0mo	$92,000	$102	100
7713 N Tecumseh Rd	0.26mi	2/1.0	936 (+4%)	14mo	$170,000	$182	70
7993 N Tippecanoe Dr	0.13mi	2/1.0	773 (-14%)	0mo	$290,000	$375	70
7798 N Topinabee Rd	0.21mi	2/1.0	868 (-4%)	23mo	$117,500	$135	65
8230 Indiana 23	0.33mi	2/1.0	1,008 (+12%)	2mo	$165,000	$164	63
7307 N Hickory Ave	0.72mi	2/1.0	928 (+3%)	10mo	$74,000	$80	53
7478 N Navigator Dr	0.52mi	2/1.0	1,008 (+12%)	5mo	$163,900	$163	52

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: -2.0%
• Equity multiple: 0.92×
• Total profit: $-2,367
• Equity at exit: $16,401

10-year hold

• IRR: 7.6%
• Equity multiple: 1.58×
• Total profit: $17,783
• Equity at exit: $9,511

Cash invested: $30,800 (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: 7.7×

Monthly cashflow live

• Estimated rent: $1,188 medium
• Mortgage (P&I): −$577
• Tax from tax record: −$73 /mo · $871/yr
• Insurance: −$46
• HOA: −$0
• Vacancy / Maint / Mgmt: −$249
• Net cashflow: $243

Break-even live

Break-even rent $880

Max offer price $110,000

Occupancy floor 75%

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: $27,500
• Closing costs: $3,300
• Reserves months: —
• Total cash needed: —

Listing history 7 events

1. 2026-04-26
   price $110,000 979-char remark

   Show marketing remark (979 chars)

   Lake Life just got a little easier!! Another price reduction!! You need to check this one out before the weather turns and it's gone! This is a 2 bedroom, 1 bath with an attached garage that sits on a double lot with a storage shed allowing plenty of space for your toys. You'll want to add your touch on the paint and flooring but this house is solid and will make a great cottage for years. You'll be especially impressed with the size of the rear screened in porch for entertaining your friends. Bring your Jet-skis, Wakeboards, Kayaks or your Pontoons and enjoy your summer on beautiful Koontz Lake in Indiana. A convenient public Park strip at Kramer's Beach Public Access is just minutes away and up the street is a Public access where you can launch your equipment. Limited parking but you're so close to home already. This is a great investment and definitely worth your time to check it out! Schedule your private tour today and write us an offer! Reduced to $110,000.

2. 2026-02-04
   price $122,500 979-char remark

   Show marketing remark (979 chars)

   Lake Life just got a little easier!! Another price reduction!! You need to check this one out before the weather turns and it's gone! This is a 2 bedroom, 1 bath with an attached garage that sits on a double lot with a storage shed allowing plenty of space for your toys. You'll want to add your touch on the paint and flooring but this house is solid and will make a great cottage for years. You'll be especially impressed with the size of the rear screened in porch for entertaining your friends. Bring your Jet-skis, Wakeboards, Kayaks or your Pontoons and enjoy your summer on beautiful Koontz Lake in Indiana. A convenient public Park strip at Kramer's Beach Public Access is just minutes away and up the street is a Public access where you can launch your equipment. Limited parking but you're so close to home already. This is a great investment and definitely worth your time to check it out! Schedule your private tour today and write us an offer! Reduced to $110,000.

3. 2025-12-06
   listed $125,000 Active 979-char remark

   Show marketing remark (979 chars)

   Lake Life just got a little easier!! Another price reduction!! You need to check this one out before the weather turns and it's gone! This is a 2 bedroom, 1 bath with an attached garage that sits on a double lot with a storage shed allowing plenty of space for your toys. You'll want to add your touch on the paint and flooring but this house is solid and will make a great cottage for years. You'll be especially impressed with the size of the rear screened in porch for entertaining your friends. Bring your Jet-skis, Wakeboards, Kayaks or your Pontoons and enjoy your summer on beautiful Koontz Lake in Indiana. A convenient public Park strip at Kramer's Beach Public Access is just minutes away and up the street is a Public access where you can launch your equipment. Limited parking but you're so close to home already. This is a great investment and definitely worth your time to check it out! Schedule your private tour today and write us an offer! Reduced to $110,000.

4. 2021-05-04
   soldstatus $48,000 580-char remark

   Show marketing remark (580 chars)

   Looking for a home near the Lake? Here it is! This 2 Bedroom 1 bath with 1 car attached garage is 1 block from Koontz Lake in Walkerton Indiana. There are 2 enclosed porches that are great for seasonal enjoyment & recreating while listening to the rain and wind rustling through the mature trees. All appliances stay including washer and dryer. There's space to create a 3rd bedroom, if desired. Live in the home the way it is or customize it to your liking. Here's the affordable deal you've been waiting for. Buy it today, so you can enjoy the relaxing lakeside lifestyle.

5. 2021-03-25
   listed $52,000 580-char remark

   Show marketing remark (580 chars)

   Looking for a home near the Lake? Here it is! This 2 Bedroom 1 bath with 1 car attached garage is 1 block from Koontz Lake in Walkerton Indiana. There are 2 enclosed porches that are great for seasonal enjoyment & recreating while listening to the rain and wind rustling through the mature trees. All appliances stay including washer and dryer. There's space to create a 3rd bedroom, if desired. Live in the home the way it is or customize it to your liking. Here's the affordable deal you've been waiting for. Buy it today, so you can enjoy the relaxing lakeside lifestyle.

6. 2014-09-09
   historical
7. 2009-05-28
   listed $54,900

ⓘ 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: $871 · $73/mo
• Projected year-2 tax: $903 · $75/mo
• Expected delta: +$32/yr (+$3/mo · 3.7%)

ⓘ 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 ≥101°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: $14,253
• − Mortgage interest: −$6,162
• − Property taxes: −$871
• − Insurance: −$550
• − Repairs & maintenance: −$1,140
• − Management: −$1,140
• − Depreciation: −$3,200
• Taxable income: $1,190
• Est. tax owed @ 24.0%: −$286
• After-tax cash flow: $2,631/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: Oregon-Davis School Corporation
• NCES district ID: 1808460
• Math proficiency: 19% ▼ -13.00%
• Reading proficiency: 34% ▼ -5.00%
• Median HH income: $46,674
• Composite: 22.93/100
• National rank: #7991
• State rank: #257 of 301 in IN

Livability — Koontz Lake

• Score: 61/100
• State rank: #516
• US rank: #18383

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

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

Population outlook (Starke County) Hauer SSP2

• Today (2025): 21,860 people
• By 2030: 21,024 · -3.8%
• By 2040: 19,041 · -12.9%
• By 2050: 16,881 · -22.8%
• By 2075: 11,880 · -45.7%
• By 2100: 7,217 · -67.0%

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 · Starke

• 2024 margin: Solid R (+52.0) · D 23.2% · R 75.3% · Other 1.5%
• 2008→2024 swing: -55.3pp toward R · 2008: 3.2pp · 2024: -52.0pp
• All cycles: 2024: R+52.0 2020: R+46.8 2016: R+42.0 2012: R+10.6 2008: D+3.2

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

+100.4% since first listed

7 events — show timeline

• 2026-04-26 Price Changed $110,000 IRMLS
• 2026-02-04 Price Changed $122,500 IRMLS
• 2025-12-06 Listed $125,000 IRMLS
• 2021-05-04 Sold (MLS) $48,000 NIRA MLS as Distributed by MLS Grid
• 2021-03-25 Listed $52,000 NIRA MLS as Distributed by MLS Grid
• 2014-09-09 Listing Removed — NIRA MLS as Distributed by MLS Grid
• 2009-05-28 Listed $54,900 NIRA MLS as Distributed by MLS Grid

Property tax history

-0.1%/yr

Latest (2024): $871 · -0.6% YoY. Source: county tax records.