211 W Pearl St · Dunkirk, IN 47336

$29,900

2 bd · 1.0 ba · 1,064 sqft · SingleFamily public records · 34 Days on market

Built 1950 6,490 sqft lot $28/sqft · 71% below area ↓ 40% 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Appreciation +6.8/10.0
• Schools +3.2/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Enjoy small town living in this 2 bedroom, 1 bath home featuring a 2 car detached garage. With a little TLC, this property offers plenty of potential to make it your own or add to your investment portfolio. Great opportunity for buyers looking to add their personal touch!

Key facts

• 6,490 sq ft lot
• 2 garage spots
• Built 1950

Property features AI

Exterior

• Parking: Detached 2-car garage (approximately 864 sq ft)
• Utilities: Public water; Municipal sewer connected
• Home design: Single-family residence; One story
• Construction: Vinyl siding; Crawl space foundation
• Exterior features: Lot under 1/4 acre (approximately 0.15 acres)

Interior

• Kitchen: No appliances included
• Bedrooms: Two bedrooms on the main level
• Bathrooms: One full bathroom on the main level
• Heating & cooling: Baseboard heating; Electric heating; No central cooling
• Interior features: Attic access
• Laundry & utility: No solid waste service listed

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $30k.

Deal economics

• At list price, monthly cash flow is $517 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($977 rent vs $30k).
• Recommended offer: $29k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 64/100 on livability (#404 in IN) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: health & safety D, amenities F, commute F.
• Jay School Corporation (rural): math 38% / reading 37% proficiency, ranked #175 of 301 in IN (top 58%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Jay County Jr/Sr High School (math 34% / reading 41%, grade F, #245 of 369 statewide, top 67%, 1,242 students, 50% FRL).
• Market conditions: 32 active listings in the ZIP; 19 units permitted in Jay County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $1k of equity ($207 loan paydown + $1k appreciation (3.6% local appreciation)).
• Jay County population projected at -12% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (3.6% appreciation + 3.0% rent growth), your $8k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 34 days — a 3% lower offer ($29k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $20k (40%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: property tax is 3.4% of price; built in 1950 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $29,003 (3.0% below list)

Questions for the listing agent

1. It's been on market 34 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 1950 — 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. 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. 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: 3.27% ✓
• Cap rate: 27.05%
• Cash-on-cash: 74.13%
• DSCR: 4.30
• GRM: 2.5

CMA / ARV

• ARV (median comp): $103,512
• List price: $29,900
• Delta: -63.39%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
324 W Jay St	0.22mi	3/1.0 (+1)	1,038 (-2%)	2mo	$163,000	$157	80
702 S Franklin St	0.08mi	2/2.0	1,010 (-5%)	11mo	$135,000	$134	74
235 Moore Ave	0.31mi	3/1.5 (+1)	1,075 (+1%)	14mo	$163,000	$152	65
156 E Grand St	0.33mi	2/1.0	980 (-8%)	14mo	$72,500	$74	59
603 Layne Dr	0.40mi	3/1.0 (+1)	1,065 (+0%)	22mo	$122,000	$115	58
434 N Main St	0.70mi	3/1.0 (+1)	1,146 (+8%)	3mo	$91,000	$79	47
218 Moore Ave	0.28mi	3/1.5 (+1)	1,188 (+12%)	17mo	$135,000	$114	47
1264 S Main St	0.67mi	2/1.0	1,002 (-6%)	16mo	$139,900	$140	46
223 Mount Auburn St	0.71mi	2/1.0	986 (-7%)	17mo	$37,000	$38	41
210 W Center St	0.49mi	1/0.5 (-1)	913 (-14%)	7mo	$10,000	$11	41
412 N Meridian St	0.62mi	2/1.0	975 (-8%)	24mo	$110,000	$113	37
1261 S Main St	0.65mi	3/1.0 (+1)	912 (-14%)	9mo	$82,500	$90	33

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

3.64% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 79.3%
• Equity multiple: 5.49×
• Total profit: $37,612
• Equity at exit: $14,535

10-year hold

• IRR: 78.3%
• Equity multiple: 11.34×
• Total profit: $86,560
• Equity at exit: $23,287

Cash invested: $8,372 (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 47336

• Home prices YoY: 1.6%
• Active inventory: 32
• Price-to-rent: 2.5×

Monthly cashflow live

• Estimated rent: $977 medium
• Mortgage (P&I): −$157
• Tax from tax record: −$86 /mo · $1,026/yr
• Insurance: −$12
• HOA: −$0
• Vacancy / Maint / Mgmt: −$205
• Net cashflow: $517

Break-even live

Break-even rent $323

Max offer price $29,900

Occupancy floor 42%

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: $7,475
• Closing costs: $897
• Reserves months: —
• Total cash needed: —

Listing history 19 events

1. 2026-06-18
   days on market $29,900 Active 34 DOM
2. 2026-06-17
   pricedays on market $29,900 Active 33 DOM

   Show marketing remark (272 chars)

   Enjoy small town living in this 2 bedroom, 1 bath home featuring a 2 car detached garage. With a little TLC, this property offers plenty of potential to make it your own or add to your investment portfolio. Great opportunity for buyers looking to add their personal touch!

3. 2026-06-16
   days on market $37,900 Active 32 DOM
4. 2026-06-16
   price $37,900 Active 31 DOM
5. 2026-06-15
   days on market $38,900 Active 31 DOM

   Show marketing remark (272 chars)

   Enjoy small town living in this 2 bedroom, 1 bath home featuring a 2 car detached garage. With a little TLC, this property offers plenty of potential to make it your own or add to your investment portfolio. Great opportunity for buyers looking to add their personal touch!

6. 2026-06-13
   days on market $38,900 Active 29 DOM
7. 2026-06-12
   days on market $38,900 Active 28 DOM
8. 2026-06-09
   days on market $38,900 Active 25 DOM
9. 2026-06-08
   days on market $38,900 Active 24 DOM
10. 2026-06-07
    pricedays on market $38,900 Active 23 DOM
11. 2026-06-05
    days on market $39,900 Active 21 DOM
12. 2026-06-04
    days on market $39,900 Active 19 DOM
13. 2026-06-03
    price $39,900 Active 18 DOM
14. 2026-06-02
    days on market $49,900 Active 18 DOM

    Show marketing remark (272 chars)

    Enjoy small town living in this 2 bedroom, 1 bath home featuring a 2 car detached garage. With a little TLC, this property offers plenty of potential to make it your own or add to your investment portfolio. Great opportunity for buyers looking to add their personal touch!

15. 2026-06-01
    days on market $49,900 Active 17 DOM
16. 2026-05-31
    days on market $49,900 Active 16 DOM
17. 2026-05-31
    days on market $49,900 Active 15 DOM
18. 2026-05-15
    listed $49,900 Active 272-char remark

    Show marketing remark (272 chars)

    Enjoy small town living in this 2 bedroom, 1 bath home featuring a 2 car detached garage. With a little TLC, this property offers plenty of potential to make it your own or add to your investment portfolio. Great opportunity for buyers looking to add their personal touch!

19. 2026-05-13
    listed $49,900 Active 272-char remark

ⓘ 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: $1,026 · $86/mo
• Projected year-2 tax: $1,026 · $86/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 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥99°F today · 18 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 0% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $11,727
• − Mortgage interest: −$1,675
• − Property taxes: −$1,026
• − Insurance: −$150
• − Repairs & maintenance: −$938
• − Management: −$938
• − Depreciation: −$870
• Taxable income: $6,130
• Est. tax owed @ 24.0%: −$1,471
• After-tax cash flow: $4,735/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: Jay School Corporation
• NCES district ID: 1804980
• Math proficiency: 38% ▼ -13.00%
• Reading proficiency: 37% ▼ -13.00%
• Median HH income: $40,841
• Composite: 31.56/100
• National rank: #5954
• State rank: #175 of 301 in IN

Livability — Dunkirk

• Score: 64/100
• State rank: #404
• US rank: #14764

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Dunkirk, IN
• Population (ZIP): 2,793

Population outlook (Jay County) Hauer SSP2

• Today (2025): 20,586 people
• By 2030: 20,155 · -2.1%
• By 2040: 19,274 · -6.4%
• By 2050: 18,203 · -11.6%
• By 2075: 15,062 · -26.8%
• By 2100: 10,857 · -47.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (95%)
• Race & ethnicity: White 95% Two or more races 3% Hispanic / Latino 2%
• Common ancestry: Italian 4% Slovak 2% Scotch-Irish 1%
• Foreign-born: 0%
• Languages at home: 98% English-only · Spanish 1%

Political lean MEDSL · Jay

• 2024 margin: Solid R (+55.2) · D 21.6% · R 76.7% · Other 1.7%
• 2008→2024 swing: -47.3pp toward R · 2008: -7.8pp · 2024: -55.2pp
• All cycles: 2024: R+55.2 2020: R+52.4 2016: R+47.8 2012: R+20.0 2008: R+7.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 3.64%
• Current HPI: 238.768
• 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

-40.1% since first listed

10 events — show timeline

• 2026-06-17 Price Changed $29,900 IRMLS
• 2026-06-17 Price Changed $29,900 MIBOR as Distributed by MLS Grid
• 2026-06-15 Price Changed $37,900 IRMLS
• 2026-06-15 Price Changed $37,900 MIBOR as Distributed by MLS Grid
• 2026-06-06 Price Changed $38,900 IRMLS
• 2026-06-06 Price Changed $38,900 MIBOR as Distributed by MLS Grid
• 2026-06-02 Price Changed $39,900 IRMLS
• 2026-06-02 Price Changed $39,900 MIBOR as Distributed by MLS Grid
• 2026-05-15 Listed $49,900 IRMLS
• 2026-05-13 Listed $49,900 MIBOR as Distributed by MLS Grid

Property tax history

+12.2%/yr

Latest (2022): $1,026 · +12.5% YoY. Source: county tax records.