30 EMS B18 Lane Ln · Barbee, IN 46562

$159,000

1 bd · 1.0 ba · 676 sqft · SingleFamily public records · 174 Days on market

Built 1953 4,356 sqft lot $235/sqft · 36% below area Est $247k · 36% under ↓ 3% since listing

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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).

• ARV discount +15.0/15.0
• Cash flow +10.2/30.0
• Schools +3.1/10.0
• DSCR +2.9/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +1.9/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Enjoy the peace and calm of Kuhn Lake with the ability to get to all-sport Big Barbee Lake within a couple of minutes once you leave your pier. The aluminum pier has been removed for the season but will remain with the property. Sit on the open front deck for a view of the water or get to your shared pier space just a short walk from the property. This 3 season cottage has been used through the years to host extended family comfortably with the furniture that will remain with the sale. The gas wall heater is only four years old and warms the space very comfortably. The owner has loved and cared for this home for a number of years and is willing to sit down with the new owner to walk them through any questions they have concerning starting the water pump and installing the pier for the season. They want the new owners to love it as much as they have.

Key facts

• Aluminum pier
• Big barbee lake
• Shared pier space

Tags

• BIG BARBEE LAKE
• ALUMINUM PIER
• OPEN FRONT DECK
• SHARED PIER SPACE
• 3 SEASON COTTAGE
• GAS WALL HEATER

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath single-family listed at $159k.

Deal economics

• At list price, monthly cash flow is $-90 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $143k (10.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $109k (31.2% below list).
• Recommended offer: $109k (31.2% below list) — sets the bar for 1% rule.
• Cap rate 5.6% vs local median 1.3% in Barbee — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads: area grade D — affects rentability + tenant quality, not the cash-flow math above.
• 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.
• Market conditions: 22 active listings in the ZIP; 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 $5k 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

• It's been on market 174 days — a 12% lower offer ($140k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1953 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $109,465 (31.2% 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. It's been on market 174 days. Have you received any prior offers? Is the seller open to a 31% concession, seller financing, or rate buy-down credit?
3. Built in 1953 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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.
8. 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.
9. 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: 0.69% ✗
• Cap rate: 5.61%
• Cash-on-cash: -2.43%
• DSCR: 0.89
• GRM: 12.1

CMA / ARV

• ARV (median comp): $247,066
• List price: $159,000
• Delta: -35.64%
• Verdict: UNDERPRICED
• Comps: 16 within 1.0 mi

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
30 EMS B18 Lane Ln	0.00mi	1/1.0	676 (0%)	0mo	$120,000	$178	100
51 Ems B15 Ln	0.07mi	2/1.0 (+1)	650 (-4%)	8mo	$260,000	$400	78
84 Ems B11 Ln	0.20mi	2/1.0 (+1)	625 (-8%)	21mo	$295,000	$472	56
79 Ems B4 LN Ln	0.62mi	2/1.0 (+1)	672 (-1%)	11mo	$280,000	$417	56
23 EMS B1e Ln	0.55mi	2/1.0 (+1)	672 (-1%)	23mo	$311,000	$463	49

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: -20.4%
• Equity multiple: 0.29×
• Total profit: $-31,577
• Equity at exit: $23,707

10-year hold

• IRR: -13.7%
• Equity multiple: 0.21×
• Total profit: $-35,180
• Equity at exit: $13,747

Cash invested: $44,520 (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 46562

• Home prices YoY: -4.3%
• Active inventory: 22
• Price-to-rent: 12.1×

Monthly cashflow live

• Estimated rent: $1,095 medium
• Mortgage (P&I): −$834
• Tax from tax record: −$55 /mo · $658/yr
• Insurance: −$66
• HOA: −$0
• Vacancy / Maint / Mgmt: −$230
• Net cashflow: $-90

Break-even live

Break-even rent $1,209

Max offer price $143,080

Occupancy floor —

Sensitivity live

Price	-10% $0	-5% $-45	+0% $-90	+5% $-135	+10% $-180
Rent	-10% $-177	-5% $-133	+0% $-90	+5% $-47	+10% $-4
Rate	-1.0pp $-10	-0.5pp $-50	base $-90	+0.5pp $-131	+1.0pp $-173

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: $39,750
• Closing costs: $4,770
• Reserves months: —
• Total cash needed: —

Listing history 3 events

1. 2026-05-12
   status Pending 861-char remark

   Show marketing remark (861 chars)

   Enjoy the peace and calm of Kuhn Lake with the ability to get to all-sport Big Barbee Lake within a couple of minutes once you leave your pier. The aluminum pier has been removed for the season but will remain with the property. Sit on the open front deck for a view of the water or get to your shared pier space just a short walk from the property. This 3 season cottage has been used through the years to host extended family comfortably with the furniture that will remain with the sale. The gas wall heater is only four years old and warms the space very comfortably. The owner has loved and cared for this home for a number of years and is willing to sit down with the new owner to walk them through any questions they have concerning starting the water pump and installing the pier for the season. They want the new owners to love it as much as they have.

2. 2026-03-30
   price $159,000 861-char remark

   Show marketing remark (861 chars)

   Enjoy the peace and calm of Kuhn Lake with the ability to get to all-sport Big Barbee Lake within a couple of minutes once you leave your pier. The aluminum pier has been removed for the season but will remain with the property. Sit on the open front deck for a view of the water or get to your shared pier space just a short walk from the property. This 3 season cottage has been used through the years to host extended family comfortably with the furniture that will remain with the sale. The gas wall heater is only four years old and warms the space very comfortably. The owner has loved and cared for this home for a number of years and is willing to sit down with the new owner to walk them through any questions they have concerning starting the water pump and installing the pier for the season. They want the new owners to love it as much as they have.

3. 2025-11-18
   listed $164,000 Active 861-char remark

   Show marketing remark (861 chars)

   Enjoy the peace and calm of Kuhn Lake with the ability to get to all-sport Big Barbee Lake within a couple of minutes once you leave your pier. The aluminum pier has been removed for the season but will remain with the property. Sit on the open front deck for a view of the water or get to your shared pier space just a short walk from the property. This 3 season cottage has been used through the years to host extended family comfortably with the furniture that will remain with the sale. The gas wall heater is only four years old and warms the space very comfortably. The owner has loved and cared for this home for a number of years and is willing to sit down with the new owner to walk them through any questions they have concerning starting the water pump and installing the pier for the season. They want the new owners to love it as much as they have.

ⓘ 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: $658 · $55/mo
• Projected year-2 tax: $1,005 · $84/mo
• Expected delta: +$347/yr (+$29/mo · 52.7%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone X (unshaded) · 74% 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: $13,136
• − Mortgage interest: −$8,906
• − Property taxes: −$658
• − Insurance: −$795
• − Repairs & maintenance: −$1,051
• − Management: −$1,051
• − Depreciation: −$4,625
• Taxable loss: −$3,951
• Est. tax savings @ 24.0%: +$948
• After-tax cash flow: $-133/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 — Barbee

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

Census & demographics

• Population (ZIP): 5,118

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 (92%)
• Race & ethnicity: White 92% Hispanic / Latino 5% Two or more races 4%
• Hispanic origin (detail): Mexican 2%
• Common ancestry: Scandinavian 5% Italian 3% Romanian 1%
• Foreign-born: 2% · Canada
• Languages at home: 95% English-only · Spanish 4%

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: ▼ -13.65%
• Current HPI: 306.91
• 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

-3.0% since first listed

3 events — show timeline

• 2026-05-12 Pending — IRMLS
• 2026-03-30 Price Changed $159,000 IRMLS
• 2025-11-18 Listed $164,000 IRMLS

Property tax history

+5.7%/yr

Latest (2024): $658 · -0.2% YoY. Source: county tax records.