107 W Fourth St · Milford, IN 46542

$200,000

3 bd · 1.5 ba · 1,294 sqft · SingleFamily public records · 1 Days on market

Built 1900 0.26 ac lot Est $245k · 18% 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 +16.5/30.0
• ARV discount +15.0/15.0
• DSCR +5.1/10.0
• 1% rule +3.3/10.0
• Livability +3.2/5.0
• Schools +3.1/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Check it out! Beautiful home located in the desirable and prideful town of Milford! Pride of ownership throughout your new home. As soon as you enter you have a great flex space. That could be used as a den, office or what is currently being used as a 4th bedroom. Main level includes a large open floorplan that has kitchen views into the dining room and living room. Great floorplan with master bedroom and en suite on the main level. Two additional bedrooms upstairs. Your new home has seen many renovations including newer vinyl siding and vinyl windows throughout. Newer subfloor in the kitchen, circulation pump on boiler and newer washer & dryer. All kitchen appliances stay! Huge ba

Key facts

• Newer vinyl windows
• En suite
• Newer vinyl siding

Tags

• OPEN FLOORPLAN
• MASTER BEDROOM
• EN SUITE
• NEWER VINYL SIDING
• NEWER VINYL WINDOWS
• NEWER SUBFLOOR

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $200k.

Deal economics

• At list price, monthly cash flow is $118 ($1k/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 $165k (17.5% below list).
• Recommended offer: $165k (17.5% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 63/100 on livability (#441 in IN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime B+; Watch: employment D, amenities F, commute F.
• Wawasee Community School Corporation (town): math 32% / reading 39% proficiency, ranked #179 of 301 in IN (top 60%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Milford School (math 32% / reading 36%, grade F, #627 of 994 statewide, top 63%, 449 students, 58% FRL); Wawasee Middle School (math 24% / reading 34%, grade F, #222 of 330 statewide, top 67%, 507 students, 50% FRL); Wawasee High School (math 27% / reading 56%, grade F, #211 of 369 statewide, top 58%, 909 students, 44% FRL).
• Market conditions: 21 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 261 units permitted in Kosciusko County in 2024 (10 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.
• Kosciusko County population projected at +3% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $74k; list at $200k implies a 170% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

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

Recommended offer $165,000 (17.5% 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 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?
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: 0.83% ✗
• Cap rate: 7.00%
• Cash-on-cash: 2.53%
• DSCR: 1.11
• GRM: 10.1

CMA / ARV

• ARV (on-the-fly): $244,566
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
107 W Fourth St	0.00mi	3/1.5	1,294 (0%)	1mo	$205,000	$158	99
211 W Catherine St	0.13mi	3/1.0	1,287 (-0%)	6mo	$118,250	$92	86
409 W Catherine St	0.25mi	3/1.0	1,374 (+6%)	10mo	$194,000	$141	68
420 N Eastfield Cir	0.62mi	3/2.0	1,292 (-0%)	2mo	$305,000	$236	68
108 N West St	0.11mi	2/2.0 (-1)	1,163 (-10%)	4mo	$176,000	$151	67
310 N West St	0.15mi	2/1.0 (-1)	1,152 (-11%)	1mo	$210,000	$182	67
402 Alexis Dr	0.38mi	3/2.0	1,398 (+8%)	2mo	$273,500	$196	65
305 Alexis Dr	0.40mi	3/2.0	1,246 (-4%)	12mo	$235,000	$189	64
312 Heide Ln	0.53mi	3/2.0	1,320 (+2%)	9mo	$224,900	$170	62
440 N Eastfield Cir	0.63mi	2/2.0 (-1)	1,228 (-5%)	11mo	$260,000	$212	45
545 N Eastfield Cir	0.63mi	3/3.0	1,432 (+11%)	12mo	$365,000	$255	37
550 N Eastfield Cir	0.63mi	2/2.0 (-1)	1,432 (+11%)	11mo	$354,730	$248	37

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: -12.3%
• Equity multiple: 0.55×
• Total profit: $-24,974
• Equity at exit: $29,821

10-year hold

• IRR: -3.3%
• Equity multiple: 0.78×
• Total profit: $-12,440
• 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 46542

• Home prices YoY: -7.2%
• Active inventory: 21
• Price-to-rent: 10.1×

Monthly cashflow live

• Estimated rent: $1,650 medium
• Mortgage (P&I): −$1,049
• Tax from tax record: −$53 /mo · $637/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$346
• Net cashflow: $118

Break-even live

Break-even rent $1,500

Max offer price $200,000

Occupancy floor 88%

Sensitivity live

Price	-10% $231	-5% $175	+0% $118	+5% $62	+10% $5
Rent	-10% $-12	-5% $53	+0% $118	+5% $183	+10% $249
Rate	-1.0pp $219	-0.5pp $169	base $118	+0.5pp $66	+1.0pp $14

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
505 W Fourth St Milford, IN	1.0–2.0	1.0–2.0	712	$1,650	$2.32	23d	3	0.30mi

Listing history 3 events

1. 2026-04-22
   status Pending
2. 2026-04-21
   listed $200,000 Active
3. 2011-03-15
   soldstatus $74,000

ⓘ 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: $637 · $53/mo
• Projected year-2 tax: $1,169 · $97/mo
• Expected delta: +$531/yr (+$44/mo · 83.4%)

ⓘ 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 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 · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $19,800
• − Mortgage interest: −$11,203
• − Property taxes: −$637
• − Insurance: −$1,000
• − Repairs & maintenance: −$1,584
• − Management: −$1,584
• − Depreciation: −$5,818
• Taxable loss: −$2,027
• Est. tax savings @ 24.0%: +$486
• After-tax cash flow: $1,905/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: Wawasee Community School Corporation
• NCES district ID: 1805550
• Math proficiency: 32% ▼ -7.00%
• Reading proficiency: 39% ▼ -7.00%
• Median HH income: $52,439
• Composite: 30.97/100
• National rank: #6100
• State rank: #179 of 301 in IN

Livability — Milford

• Score: 63/100
• State rank: #441
• US rank: #15771

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Milford, IN
• Population (ZIP): 5,108

Population outlook (Kosciusko County) Hauer SSP2

• Today (2025): 81,747 people
• By 2030: 82,878 · +1.4%
• By 2040: 84,270 · +3.1%
• By 2050: 84,191 · +3.0%
• By 2075: 82,918 · +1.4%
• By 2100: 74,808 · -8.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (83%)
• Race & ethnicity: White 83% Hispanic / Latino 13% Two or more races 5% Asian 1%
• Hispanic origin (detail): Mexican 11%
• Common ancestry: Romanian 3% Iranian 3% Polish 1%
• Foreign-born: 5% · Canada, South Korea
• Languages at home: 80% English-only · German/W. Germanic 12% Spanish 8%

Political lean MEDSL · Kosciusko

• 2024 margin: Solid R (+52.3) · D 22.9% · R 75.2% · Other 1.9%
• 2008→2024 swing: -14.9pp toward R · 2008: -37.3pp · 2024: -52.3pp
• All cycles: 2024: R+52.3 2020: R+50.7 2016: R+55.1 2012: R+52.2 2008: R+37.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -21.15%
• Current HPI: 272.8868
• 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

+170.3% since first listed

3 events — show timeline

• 2026-04-22 Pending — IRMLS
• 2026-04-21 Listed $200,000 IRMLS
• 2011-03-15 Sold (Public Records) $74,000 Public Records

Property tax history

+9.0%/yr

Latest (2024): $637 · +15.0% YoY. Source: county tax records.