15051 County Road 146 · Benton, IN 46567

$119,000

3 bd · 1.0 ba · 3,750 sqft · SingleFamily · 11 Days on market

Built 1900 Fair condition 0.80 ac lot $32/sqft · 67% below area

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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 +21.8/30.0
• ARV discount +7.5/15.0
• DSCR +7.0/10.0
• 1% rule +5.7/10.0
• Schools +4.3/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.2/5.0
• Appreciation +0.0/10.0

Listing remarks

The old Solomon Creek United Methodist Church It’s in great condition with potential as far as your kind can wander. Schedule your showing for this unique opportunity today!! Due to an overwhelming amount of interest, please leave questions with voicemail or text message with listing agent. Multiple offers received. Please submit your highest and best offer by 10:00pm 5/5/2026

Key facts

• 0.8 acre lot
• Built 1900
• Listed 11 days

Property features AI

Exterior

• Utilities: Private well water; Septic tank sewage
• Home design: Single-family, site-built home; Single-story
• Construction: Vinyl siding
• Exterior features: Level lot; Lot dimensions approximately 200 x 120; Approximately 0.8 acre lot; Appliances listed as energy-efficient

Interior

• Bathrooms: Two half bathrooms; Two main-level bathrooms
• Heating & cooling: Central air conditioning; Natural gas heating
• Interior features: Basement fireplace

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $119k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $185 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $119k).

Location & tenants

• Location reads: area grade C — affects rentability + tenant quality, not the cash-flow math above.
• Fairfield Community Schools (rural): math 47% / reading 50% proficiency, ranked #53 of 301 in IN (top 18%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; only 16% free/reduced lunch — higher-income household profile.
• Zoned schools: Benton Elementary School (math 49% / reading 47%, grade D, #314 of 994 statewide, top 32%, 453 students, 26% FRL); Fairfield Jr-Sr High School (math 39% / reading 50%, grade F, #169 of 369 statewide, top 51%, 861 students, 24% FRL).
• Market conditions: 87 active listings in the ZIP; 484 units permitted in Elkhart County in 2024 (136 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $823 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Elkhart County population projected at +7% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• Only 11 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 $119,000

Questions for the listing agent

1. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
2. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 1.07% ✓
• Cap rate: 8.16%
• Cash-on-cash: 6.68%
• DSCR: 1.30
• GRM: 7.8

CMA / ARV

• ARV (median comp): $364,522
• List price: $119,000
• Delta: -67.35%
• Verdict: UNDERPRICED
• Comps: 5 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
15051 County Road 146	0.00mi	3/1.0	3,750 (0%)	0mo	$119,000	$32	100

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: -6.0%
• Equity multiple: 0.78×
• Total profit: $-7,451
• Equity at exit: $17,743

10-year hold

• IRR: 3.6%
• Equity multiple: 1.26×
• Total profit: $8,800
• Equity at exit: $10,289

Cash invested: $33,320 (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 46567

• Home prices YoY: -21.4%
• Active inventory: 87
• Price-to-rent: 7.8×

Monthly cashflow live

• Estimated rent: $1,276 medium
• Mortgage (P&I): −$624
• Tax est. 1.5%: −$149 /mo · $1,785/yr
• Insurance: −$50
• HOA: −$0
• Vacancy / Maint / Mgmt: −$268
• Net cashflow: $185

Break-even live

Break-even rent $1,041

Max offer price $119,000

Occupancy floor 80%

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: $29,750
• Closing costs: $3,570
• Reserves months: —
• Total cash needed: —

Listing history 2 events

1. 2026-05-09
   status Pending 387-char remark
2. 2026-04-27
   listed $119,000 Active 387-char remark

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $15,309
• − Mortgage interest: −$6,666
• − Property taxes: −$1,785
• − Insurance: −$595
• − Repairs & maintenance: −$1,225
• − Management: −$1,225
• − Depreciation: −$3,462
• Taxable income: $352
• Est. tax owed @ 24.0%: −$84
• After-tax cash flow: $2,141/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.

Condition & rehab AI · 6 photos

Fair 45/100 Extensive rehab

This church property requires extensive repairs and updates to its roof, exterior, flooring, and interior walls/paint. Significant improvements would be needed to increase its resale and rental value.

Repairs flagged

• Major roof — Significant wear and tear visible
• Major exterior — Exposed HVAC condensers and no visible landscaping
• Major flooring — Worn carpet and furniture
• Major interior walls/paint — Peeling paint and outdated decor

Value-add opportunities

• Resale New roof — A new roof would significantly improve the home's appearance and value
• Both Landscaping — Landscaping would improve curb appeal and add value
• Both New flooring — New flooring would improve the home's appearance and add value
• Both Paint and decor — Fresh paint and updated decor would improve the home's appearance and add value

Renovation cost estimate screening

Repair item	Severity	Est. cost
roof · Significant wear and tear visible	Major	$15,000–50,000
exterior · Exposed HVAC condensers and no visible landscaping	Major	$15,000–50,000
flooring · Worn carpet and furniture	Major	$15,000–50,000
interior walls/paint · Peeling paint and outdated decor	Major	$15,000–50,000
Total estimated repair cost · 4 items		$60,000–200,000

Value-add ROI direction

• Resale New roof — A new roof would significantly improve the home's appearance and value ↑
• Both Landscaping — Landscaping would improve curb appeal and add value ↑
• Both New flooring — New flooring would improve the home's appearance and add value ↑
• Both Paint and decor — Fresh paint and updated decor would improve the home's appearance and add value ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Fairfield Community Schools
• NCES district ID: 1803480
• Math proficiency: 47% ▼ -8.00%
• Reading proficiency: 50% ▼ -7.00%
• Median HH income: $64,647
• Composite: 42.94/100
• National rank: #3114
• State rank: #53 of 301 in IN

Livability — Benton

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• Population (ZIP): 9,371

Population outlook (Elkhart County) Hauer SSP2

• Today (2025): 213,761 people
• By 2030: 218,103 · +2.0%
• By 2040: 225,381 · +5.4%
• By 2050: 229,447 · +7.3%
• By 2075: 232,856 · +8.9%
• By 2100: 214,088 · +0.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (96%)
• Race & ethnicity: White 96% Two or more races 2% Hispanic / Latino 1%
• Common ancestry: Lithuanian 3% Romanian 2% Iranian 1%
• Foreign-born: 1%
• Languages at home: 95% English-only · German/W. Germanic 4% Spanish 1%

Political lean MEDSL · Elkhart

• 2024 margin: Solid R (+32.4) · D 33.1% · R 65.5% · Other 1.4%
• 2008→2024 swing: -21.2pp toward R · 2008: -11.2pp · 2024: -32.4pp
• All cycles: 2024: R+32.4 2020: R+28.1 2016: R+32.4 2012: R+26.5 2008: R+11.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -75.32%
• Current HPI: 276.7243
• 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

+0.0% since first listed

3 events — show timeline

• 2026-06-05 Sold (MLS) $119,000 IRMLS
• 2026-05-09 Pending — IRMLS
• 2026-04-27 Listed $119,000 IRMLS