271 Columbia Ave · Peru, IN 46970

$114,900

3 bd · 1.0 ba · 896 sqft · SingleFamily public records · 3 Days on market

Built 1949 6,600 sqft lot Est $128k · 10% under

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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 +14.2/30.0
• ARV discount +12.1/15.0
• DSCR +4.3/10.0
• 1% rule +4.0/10.0
• Livability +3.9/5.0
• Schools +3.0/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

This home has some original charm and features along with some upgrades. Two bedrooms on the main floor with a more private upstairs bedroom as well. Wooden floors in some rooms as well as some hiding beneath the carpets. There's also a detached garage on property!

Key facts

• Detached garage
• 6,600 sq ft lot
• Garage

Tags

• DETACHED GARAGE

Property features AI

Exterior

• Parking: Detached garage (1 car)
• Utilities: Public water; Municipal sewer connected
• Home design: Single-family residence; One and one-half stories
• Construction: Aluminum siding; Block foundation
• Exterior features: Lot under 1/4 acre (approx. 0.15 acre)

Interior

• Kitchen: Kitchen (main level); Water heater included
• Bedrooms: Three bedrooms total — two on the main level, one on the upper level
• Bathrooms: One full bathroom
• Heating & cooling: Forced air heating (natural gas); Central air conditioning
• Interior features: Painted woodwork; Basement present
• Laundry & utility: Water heater listed under appliances

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $115k.

Deal economics

• At list price, monthly cash flow is $-36 ($-429/yr) — negative.
• To cash-flow at today's rent, offer at most $110k (4.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $103k (10.3% below list).
• Recommended offer: $103k (10.3% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 77/100 on livability (#35 in IN, #2,834 nationally) — a middle-class / working-renter tenant base. Strengths: amenities A+, cost of living A+, housing A+; Watch: crime D+, commute F, employment F.
• Peru Community Schools (town): math 31% / reading 42% proficiency, ranked #192 of 301 in IN (top 64%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Blair Pointe Upper Elementary (math 34% / reading 38%, grade F, #577 of 994 statewide, top 59%, 552 students, 63% FRL); Peru Junior High School (math 27% / reading 42%); Peru Jr/Sr High School (math 27% / reading 57%, grade F, #197 of 369 statewide, top 57%, 883 students, 59% FRL).
• Market conditions: 130 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 35 units permitted in Miami County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $794 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Miami County population projected at -12% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 7y 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 $57k; list at $115k implies a 102% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $56/mo; built in 1949 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $103,022 (10.3% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. Built in 1949 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
7. 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?
8. 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.
9. 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.
10. 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: 0.90% ✗
• Cap rate: 6.50%
• Cash-on-cash: 0.74%
• DSCR: 1.03
• GRM: 9.3

CMA / ARV

• ARV (on-the-fly): $128,128
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
307 Columbia Ave	0.05mi	3/1.0	984 (+10%)	10mo	$142,500	$145	73
278 E 3rd St	0.41mi	3/1.0	864 (-4%)	11mo	$125,000	$145	66
208 Washington Ave	0.19mi	2/1.0 (-1)	976 (+9%)	9mo	$135,000	$138	63
433 E Main St	0.44mi	2/1.0 (-1)	856 (-4%)	7mo	$135,900	$159	61
429 Adams Ave	0.36mi	2/1.0 (-1)	806 (-10%)	3mo	$61,000	$76	59
21 Delores Ave	0.70mi	3/1.0	864 (-4%)	3mo	$65,000	$75	58
471 Van Buren Ave	0.60mi	2/1.0 (-1)	936 (+4%)	2mo	$110,000	$118	57
501 Monroe Ave	0.56mi	3/1.0	984 (+10%)	6mo	$141,000	$143	53
558 E 5th St	0.65mi	3/1.0	816 (-9%)	6mo	$69,000	$85	50
64 E Washington Ave	0.51mi	2/1.0 (-1)	1,000 (+12%)	3mo	$48,000	$48	49
103 Logan St	0.75mi	3/1.0	816 (-9%)	10mo	$142,900	$175	42
39 George St	0.66mi	2/1.0 (-1)	800 (-11%)	7mo	$145,000	$181	41

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: -18.4%
• Equity multiple: 0.35×
• Total profit: $-20,844
• Equity at exit: $17,132

10-year hold

• IRR: -10.7%
• Equity multiple: 0.35×
• Total profit: $-20,878
• Equity at exit: $9,934

Cash invested: $32,172 (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 46970

• Home prices YoY: -8.8%
• Active inventory: 130
• Price-to-rent: 9.3×

Monthly cashflow live

• Estimated rent: $1,030 medium
• Mortgage (P&I): −$603
• Tax est. 1.5%: −$144 /mo · $1,724/yr
• Insurance: −$48
• Flood insurance flood zone: −$56 /mo · $666/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$216
• Net cashflow: $-36

Break-even live

Break-even rent $1,075

Max offer price $109,732

Occupancy floor 98%

Sensitivity live

Price	-10% $44	-5% $4	+0% $-36	+5% $-75	+10% $-115
Rent	-10% $-117	-5% $-76	+0% $-36	+5% $5	+10% $46
Rate	-1.0pp $22	-0.5pp $-6	base $-36	+0.5pp $-65	+1.0pp $-96

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: $28,725
• Closing costs: $3,447
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
130 S Clay St Unit 6 Peru, IN	2.0	1.0	725	$799	$1.10	46d	1	0.60mi
283 W Main St Unit 1 Peru, IN	3.0	1.0	850	$929	$1.09	46d	1	1.15mi

Listing history 3 events

1. 2026-06-15
   days on market $114,900 Active 3 DOM
2. 2026-06-13
   remarks 265-char remark
3. 2026-06-13
   listed $114,900 Active 1 DOM

ⓘ 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 9/10 Extreme FEMA zone X (unshaded) · 99% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥102°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: $12,363
• − Mortgage interest: −$6,436
• − Property taxes: −$1,724
• − Insurance: −$1,241
• − Repairs & maintenance: −$989
• − Management: −$989
• − Depreciation: −$3,343
• Taxable loss: −$2,359
• Est. tax savings @ 24.0%: +$566
• After-tax cash flow: $137/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: Peru Community Schools
• NCES district ID: 1808850
• Math proficiency: 31% ▼ -9.00%
• Reading proficiency: 42% ▼ -2.00%
• Median HH income: $35,624
• Composite: 30.18/100
• National rank: #6316
• State rank: #192 of 301 in IN

Livability — Peru

• Score: 77/100
• State rank: #35
• US rank: #2834

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Peru, IN
• County: Miami County · 23,020 people
• City population: 23,020
• Metro: Peru, IN
• Population (ZIP): 23,020
• Household income: $57,842
• Rent vs Own: 28.5% rent · 71.5% own
• Severe rent burden: 498.0

Population outlook (Miami County) Hauer SSP2

• Today (2025): 34,421 people
• By 2030: 33,571 · -2.5%
• By 2040: 31,919 · -7.3%
• By 2050: 30,313 · -11.9%
• By 2075: 26,202 · -23.9%
• By 2100: 20,856 · -39.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (87%)
• Race & ethnicity: White 87% Two or more races 6% Hispanic / Latino 4% Black 3%
• Common ancestry: Iranian 2% Romanian 2% Slovak 2%
• Foreign-born: 1% · Canada
• Languages at home: 97% English-only · Spanish 2% German/W. Germanic 0%

Political lean MEDSL · Miami

• 2024 margin: Solid R (+54.5) · D 21.8% · R 76.3% · Other 1.9%
• 2008→2024 swing: -35.1pp toward R · 2008: -19.5pp · 2024: -54.5pp
• All cycles: 2024: R+54.5 2020: R+53.1 2016: R+53.6 2012: R+30.9 2008: R+19.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -24.29%
• Current HPI: 252.7166
• Rent YoY: —
• Metro: Peru, IN
• 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

+101.6% since first listed

3 events — show timeline

• 2026-06-12 Listed $114,900 MIBOR as Distributed by MLS Grid
• 2019-05-20 Sold (MLS) $57,000 IRMLS
• 2019-05-20 Listed $57,000 IRMLS

Property tax history

-16.3%/yr

Latest (2024): $56 · +63.2% YoY. Source: county tax records.