202 W Walnut St · Akron, IN 46910

$149,000

3 bd · 2.0 ba · 1,886 sqft · SingleFamily public records · 5 Days on market

Built 1900 8,451 sqft lot Est $174k · 14% under

---

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 +15.8/30.0
• ARV discount +13.9/15.0
• DSCR +4.9/10.0
• Livability +3.9/5.0
• Schools +3.5/10.0
• 1% rule +3.1/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Charming 3-bedroom, 2-bath home offering 1,886 sq ft of comfortable living space in a quiet Akron neighborhood. Bright interiors feature spacious living areas, a functional layout, and plenty of natural light. The kitchen provides ample storage and flows easily into the dining space, ideal for everyday living. Generous bedrooms and a versatile layout add flexibility for your needs. Convenient location near local amenities. Property sold AS-IS

Key facts

• 8,451 sq ft lot
• 2 garage spots
• Built 1900

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $149k.

Deal economics

• At list price, monthly cash flow is $68 ($817/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 $121k (18.5% below list).
• Recommended offer: $121k (18.5% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 77/100 on livability (#44 in IN, #3,242 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F.
• Tippecanoe Valley School Corporation (rural): math 40% / reading 42% proficiency, ranked #126 of 301 in IN (top 42%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Mentone Elementary School (math 52% / reading 37%, grade F, #379 of 994 statewide, top 41%, 440 students, 54% FRL); Tippecanoe Valley Middle School (math 38% / reading 39%, grade F, #132 of 330 statewide, top 41%, 409 students, 58% FRL); Tippecanoe Valley High School (math 32% / reading 62%, grade D-, #143 of 369 statewide, top 44%, 545 students, 49% FRL).
• Market conditions: 9 active listings in the ZIP; 23 units permitted in Fulton County in 2024 (0 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 $4k of value loss. Plan a longer hold.
• Fulton County population projected at -13% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• Only 5 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $121,377 (18.5% below list)

Questions for the listing agent

1. Built in 1900 — 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. 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?
4. 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.
5. 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.
6. 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: 0.81% ✗
• Cap rate: 6.84%
• Cash-on-cash: 1.96%
• DSCR: 1.09
• GRM: 10.2

CMA / ARV

• ARV (on-the-fly): $173,512
• Comps found: 6

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
202 W Walnut St	0.00mi	3/2.0	1,896 (+0%)	0mo	$149,000	$79	99
308 S Pine St	0.51mi	3/2.0	1,824 (-3%)	3mo	$172,000	$94	69
110 N Whittenberger St	0.12mi	3/1.0	2,022 (+7%)	13mo	$180,000	$89	68
710 E Rochester St. St	0.46mi	3/1.0	1,805 (-4%)	1mo	$172,000	$95	67
306 W Rochester St	0.11mi	3/1.0	1,650 (-12%)	8mo	$150,000	$91	64
306 E Rochester St	0.21mi	3/1.0	1,685 (-11%)	9mo	$155,000	$92	61

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: -13.2%
• Equity multiple: 0.52×
• Total profit: $-19,877
• Equity at exit: $22,216

10-year hold

• IRR: -4.4%
• Equity multiple: 0.71×
• Total profit: $-11,999
• Equity at exit: $12,883

Cash invested: $41,720 (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 46910

• Home prices YoY: -13.1%
• Active inventory: 9
• Price-to-rent: 10.2×

Monthly cashflow live

• Estimated rent: $1,214 medium
• Mortgage (P&I): −$781
• Tax from tax record: −$47 /mo · $568/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$255
• Net cashflow: $68

Break-even live

Break-even rent $1,128

Max offer price $149,000

Occupancy floor 89%

Sensitivity live

Price	-10% $152	-5% $110	+0% $68	+5% $26	+10% $-16
Rent	-10% $-28	-5% $20	+0% $68	+5% $116	+10% $164
Rate	-1.0pp $143	-0.5pp $106	base $68	+0.5pp $29	+1.0pp $-10

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: $37,250
• Closing costs: $4,470
• Reserves months: —
• Total cash needed: —

Listing history 2 events

1. 2026-04-26
   status Pending
2. 2026-04-17
   listed $149,000 Active

ⓘ 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: $568 · $47/mo
• Projected year-2 tax: $917 · $76/mo
• Expected delta: +$349/yr (+$29/mo · 61.4%)

ⓘ 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 3/10 Moderate 7 d/yr ≥100°F today · 16 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 3/10 Moderate 1 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $14,565
• − Mortgage interest: −$8,346
• − Property taxes: −$568
• − Insurance: −$745
• − Repairs & maintenance: −$1,165
• − Management: −$1,165
• − Depreciation: −$4,335
• Taxable loss: −$1,759
• Est. tax savings @ 24.0%: +$422
• After-tax cash flow: $1,239/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: Tippecanoe Valley School Corporation
• NCES district ID: 1811370
• Math proficiency: 40% ▼ -9.00%
• Reading proficiency: 42% ▼ -5.00%
• Median HH income: $49,697
• Composite: 35.29/100
• National rank: #4969
• State rank: #126 of 301 in IN

Livability — Akron

• Score: 77/100
• State rank: #44
• US rank: #3242

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Akron, IN
• Population (ZIP): 3,125

Population outlook (Fulton County) Hauer SSP2

• Today (2025): 19,537 people
• By 2030: 19,013 · -2.7%
• By 2040: 17,959 · -8.1%
• By 2050: 17,038 · -12.8%
• By 2075: 15,117 · -22.6%
• By 2100: 13,179 · -32.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (83%)
• Race & ethnicity: White 83% Hispanic / Latino 16% Two or more races 4%
• Hispanic origin (detail): Mexican 16%
• Common ancestry: Romanian 3% Italian 1%
• Foreign-born: 7% · Canada
• Languages at home: 86% English-only · Spanish 14%

Political lean MEDSL · Fulton

• 2024 margin: Solid R (+51.2) · D 23.7% · R 74.9% · Other 1.4%
• 2008→2024 swing: -35.2pp toward R · 2008: -16.0pp · 2024: -51.2pp
• All cycles: 2024: R+51.2 2020: R+48.2 2016: R+48.4 2012: R+33.2 2008: R+16.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -39.71%
• Current HPI: 262.777
• 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

2 events — show timeline

• 2026-04-26 Pending — NIRA MLS as Distributed by MLS Grid
• 2026-04-17 Listed $149,000 NIRA MLS as Distributed by MLS Grid

Property tax history

+0.6%/yr

Latest (2024): $568 · -6.0% YoY. Source: county tax records.