354 W 550 S · Boone Grove, IN 46302

$148,000

4 bd · 1.0 ba · 1,258 sqft · SingleFamily public records · 282 Days on market

Built 1900 0.27 ac lot $118/sqft · 12% below area Est $167k · 12% under ↓ 12% since listing

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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 +19.7/30.0
• ARV discount +12.7/15.0
• DSCR +6.2/10.0
• Appreciation +5.0/10.0
• 1% rule +4.1/10.0
• Schools +3.8/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

INVESTMENT OPPORTUNITY! All of the major mechanicals have been completed. Vinyl siding, gutters, roof, tankless water heater and HVAC system are all new. Septic tank is approximately 4 years old. The main level has an open floorplan with a large living room with bow window and is ready to go for a woodstove to be installed, eat in kitchen has new appliances, cabinetry and granite counter tops. The laundry room is conveniently located off the kitchen area. The primary bedroom has a half bath, but the shared bath is a show stopper with its tiled shower with glass doors, pedestal sink and fabulous Kohler jetted tub. Upstairs you will find two additional bedrooms. The vinyl siding, gutters, roof, tankless water heater and HVAC system are all new. Septic tank is approximately 4 years old.

Key facts

• Open floorplan
• New appliances
• Glass doors

Tags

• OPEN FLOORPLAN
• NEW APPLIANCES
• GRANITE COUNTER TOPS
• TILED SHOWER
• GLASS DOORS
• PEDESTAL SINK

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $148k.

Deal economics

• At list price, monthly cash flow is $173 ($2k/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 $134k (9.3% below list).
• Recommended offer: $130k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads: area grade C — affects rentability + tenant quality, not the cash-flow math above.
• Porter Township School Corporation (rural): math 33% / reading 49% proficiency, ranked #103 of 301 in IN (top 34%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; only 17% free/reduced lunch — higher-income household profile.
• Market conditions: 1 active listings in the ZIP; 542 units permitted in Porter County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $5k of equity ($1k loan paydown + $4k appreciation (3.0% local appreciation)).
• Porter County population projected at +6% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (3.0% appreciation + 3.0% rent growth), your $41k cash investment doubles in ~5 years — after that, you're playing with house money.
• By year 7, paydown + projected appreciation supports a ~$35k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 282 days — a 12% lower offer ($130k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 5y ago; this cycle's ask has dropped $77k (34%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $90k; list at $148k implies a 64% 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 $130,240 (12.0% below list)

Questions for the listing agent

1. It's been on market 282 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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.
6. 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.
7. 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: 0.91% ✗
• Cap rate: 7.69%
• Cash-on-cash: 5.00%
• DSCR: 1.22
• GRM: 9.2

CMA / ARV

• ARV (median comp): $167,361
• List price: $148,000
• Delta: -11.57%
• Verdict: UNDERPRICED
• Comps: 6 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
540 S 350 W	0.12mi	3/1.0 (-1)	1,248 (-1%)	10mo	$218,000	$175	80

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: 12.1%
• Equity multiple: 1.69×
• Total profit: $28,770
• Equity at exit: $66,547

10-year hold

• IRR: 14.2%
• Equity multiple: 3.10×
• Total profit: $86,935
• Equity at exit: $102,557

Cash invested: $41,440 (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 46302

• Active inventory: 1
• Price-to-rent: 9.2×

Monthly cashflow live

• Estimated rent: $1,342 medium
• Mortgage (P&I): −$776
• Tax from tax record: −$50 /mo · $598/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$282
• Net cashflow: $173

Break-even live

Break-even rent $1,124

Max offer price $148,000

Occupancy floor 82%

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: $37,000
• Closing costs: $4,440
• Reserves months: —
• Total cash needed: —

Listing history 25 events

1. 2026-06-18
   days on market $148,000 Active 282 DOM
2. 2026-06-17
   days on market $148,000 Active 281 DOM
3. 2026-06-16
   days on market $148,000 Active 280 DOM
4. 2026-06-15
   days on market $148,000 Active 279 DOM
5. 2026-06-13
   days on market $148,000 Active 277 DOM
6. 2026-06-09
   days on market $148,000 Active 273 DOM
7. 2026-06-08
   status $148,000 Active 272 DOM
8. 2026-05-20
   status Pending 794-char remark

   Show marketing remark (794 chars)

   INVESTMENT OPPORTUNITY! All of the major mechanicals have been completed. Vinyl siding, gutters, roof, tankless water heater and HVAC system are all new. Septic tank is approximately 4 years old. The main level has an open floorplan with a large living room with bow window and is ready to go for a woodstove to be installed, eat in kitchen has new appliances, cabinetry and granite counter tops. The laundry room is conveniently located off the kitchen area. The primary bedroom has a half bath, but the shared bath is a show stopper with its tiled shower with glass doors, pedestal sink and fabulous Kohler jetted tub. Upstairs you will find two additional bedrooms. The vinyl siding, gutters, roof, tankless water heater and HVAC system are all new. Septic tank is approximately 4 years old.

9. 2026-04-02
   price $148,000 794-char remark

   Show marketing remark (794 chars)

   INVESTMENT OPPORTUNITY! All of the major mechanicals have been completed. Vinyl siding, gutters, roof, tankless water heater and HVAC system are all new. Septic tank is approximately 4 years old. The main level has an open floorplan with a large living room with bow window and is ready to go for a woodstove to be installed, eat in kitchen has new appliances, cabinetry and granite counter tops. The laundry room is conveniently located off the kitchen area. The primary bedroom has a half bath, but the shared bath is a show stopper with its tiled shower with glass doors, pedestal sink and fabulous Kohler jetted tub. Upstairs you will find two additional bedrooms. The vinyl siding, gutters, roof, tankless water heater and HVAC system are all new. Septic tank is approximately 4 years old.

10. 2026-02-02
    price $179,000 794-char remark

    Show marketing remark (794 chars)

    INVESTMENT OPPORTUNITY! All of the major mechanicals have been completed. Vinyl siding, gutters, roof, tankless water heater and HVAC system are all new. Septic tank is approximately 4 years old. The main level has an open floorplan with a large living room with bow window and is ready to go for a woodstove to be installed, eat in kitchen has new appliances, cabinetry and granite counter tops. The laundry room is conveniently located off the kitchen area. The primary bedroom has a half bath, but the shared bath is a show stopper with its tiled shower with glass doors, pedestal sink and fabulous Kohler jetted tub. Upstairs you will find two additional bedrooms. The vinyl siding, gutters, roof, tankless water heater and HVAC system are all new. Septic tank is approximately 4 years old.

11. 2026-01-08
    price $189,000 794-char remark

    Show marketing remark (794 chars)

    INVESTMENT OPPORTUNITY! All of the major mechanicals have been completed. Vinyl siding, gutters, roof, tankless water heater and HVAC system are all new. Septic tank is approximately 4 years old. The main level has an open floorplan with a large living room with bow window and is ready to go for a woodstove to be installed, eat in kitchen has new appliances, cabinetry and granite counter tops. The laundry room is conveniently located off the kitchen area. The primary bedroom has a half bath, but the shared bath is a show stopper with its tiled shower with glass doors, pedestal sink and fabulous Kohler jetted tub. Upstairs you will find two additional bedrooms. The vinyl siding, gutters, roof, tankless water heater and HVAC system are all new. Septic tank is approximately 4 years old.

12. 2025-12-06
    price $193,000 794-char remark

    Show marketing remark (794 chars)

    INVESTMENT OPPORTUNITY! All of the major mechanicals have been completed. Vinyl siding, gutters, roof, tankless water heater and HVAC system are all new. Septic tank is approximately 4 years old. The main level has an open floorplan with a large living room with bow window and is ready to go for a woodstove to be installed, eat in kitchen has new appliances, cabinetry and granite counter tops. The laundry room is conveniently located off the kitchen area. The primary bedroom has a half bath, but the shared bath is a show stopper with its tiled shower with glass doors, pedestal sink and fabulous Kohler jetted tub. Upstairs you will find two additional bedrooms. The vinyl siding, gutters, roof, tankless water heater and HVAC system are all new. Septic tank is approximately 4 years old.

13. 2025-10-24
    price $199,900 794-char remark

    Show marketing remark (794 chars)

    INVESTMENT OPPORTUNITY! All of the major mechanicals have been completed. Vinyl siding, gutters, roof, tankless water heater and HVAC system are all new. Septic tank is approximately 4 years old. The main level has an open floorplan with a large living room with bow window and is ready to go for a woodstove to be installed, eat in kitchen has new appliances, cabinetry and granite counter tops. The laundry room is conveniently located off the kitchen area. The primary bedroom has a half bath, but the shared bath is a show stopper with its tiled shower with glass doors, pedestal sink and fabulous Kohler jetted tub. Upstairs you will find two additional bedrooms. The vinyl siding, gutters, roof, tankless water heater and HVAC system are all new. Septic tank is approximately 4 years old.

14. 2025-10-04
    price $219,000 794-char remark

    Show marketing remark (794 chars)

    INVESTMENT OPPORTUNITY! All of the major mechanicals have been completed. Vinyl siding, gutters, roof, tankless water heater and HVAC system are all new. Septic tank is approximately 4 years old. The main level has an open floorplan with a large living room with bow window and is ready to go for a woodstove to be installed, eat in kitchen has new appliances, cabinetry and granite counter tops. The laundry room is conveniently located off the kitchen area. The primary bedroom has a half bath, but the shared bath is a show stopper with its tiled shower with glass doors, pedestal sink and fabulous Kohler jetted tub. Upstairs you will find two additional bedrooms. The vinyl siding, gutters, roof, tankless water heater and HVAC system are all new. Septic tank is approximately 4 years old.

15. 2025-08-21
    listed $224,900 Active 794-char remark

    Show marketing remark (794 chars)

    INVESTMENT OPPORTUNITY! All of the major mechanicals have been completed. Vinyl siding, gutters, roof, tankless water heater and HVAC system are all new. Septic tank is approximately 4 years old. The main level has an open floorplan with a large living room with bow window and is ready to go for a woodstove to be installed, eat in kitchen has new appliances, cabinetry and granite counter tops. The laundry room is conveniently located off the kitchen area. The primary bedroom has a half bath, but the shared bath is a show stopper with its tiled shower with glass doors, pedestal sink and fabulous Kohler jetted tub. Upstairs you will find two additional bedrooms. The vinyl siding, gutters, roof, tankless water heater and HVAC system are all new. Septic tank is approximately 4 years old.

16. 2023-09-19
    soldstatus $90,000 Closed 539-char remark

    Show marketing remark (539 chars)

    Ready to rehab or Investor Special. 4BR, 1 bath 2 story rural home sitting on spacious, deep lot ready for your finishing touches. Most of the materials needed to finish rehab already in house - drywall, floor underlayment, front door, new sliding glass door to rear deck, new tub w/ enclosure, toilet, range hood, cabinets, etc. New furnace and H2O heater. Bathroom and kitchen plumbing stubbed in and ready to finish. Property being sold As-Is. Must see in person to appreciate the potential. Call Realtor today to schedule your showing.

17. 2023-09-12
    status Pending 539-char remark

    Show marketing remark (539 chars)

    Ready to rehab or Investor Special. 4BR, 1 bath 2 story rural home sitting on spacious, deep lot ready for your finishing touches. Most of the materials needed to finish rehab already in house - drywall, floor underlayment, front door, new sliding glass door to rear deck, new tub w/ enclosure, toilet, range hood, cabinets, etc. New furnace and H2O heater. Bathroom and kitchen plumbing stubbed in and ready to finish. Property being sold As-Is. Must see in person to appreciate the potential. Call Realtor today to schedule your showing.

18. 2023-08-24
    price $120,000 539-char remark

    Show marketing remark (539 chars)

    Ready to rehab or Investor Special. 4BR, 1 bath 2 story rural home sitting on spacious, deep lot ready for your finishing touches. Most of the materials needed to finish rehab already in house - drywall, floor underlayment, front door, new sliding glass door to rear deck, new tub w/ enclosure, toilet, range hood, cabinets, etc. New furnace and H2O heater. Bathroom and kitchen plumbing stubbed in and ready to finish. Property being sold As-Is. Must see in person to appreciate the potential. Call Realtor today to schedule your showing.

19. 2023-08-03
    price $130,000 539-char remark

    Show marketing remark (539 chars)

    Ready to rehab or Investor Special. 4BR, 1 bath 2 story rural home sitting on spacious, deep lot ready for your finishing touches. Most of the materials needed to finish rehab already in house - drywall, floor underlayment, front door, new sliding glass door to rear deck, new tub w/ enclosure, toilet, range hood, cabinets, etc. New furnace and H2O heater. Bathroom and kitchen plumbing stubbed in and ready to finish. Property being sold As-Is. Must see in person to appreciate the potential. Call Realtor today to schedule your showing.

20. 2023-07-28
    listed $140,000 Active 539-char remark

    Show marketing remark (539 chars)

    Ready to rehab or Investor Special. 4BR, 1 bath 2 story rural home sitting on spacious, deep lot ready for your finishing touches. Most of the materials needed to finish rehab already in house - drywall, floor underlayment, front door, new sliding glass door to rear deck, new tub w/ enclosure, toilet, range hood, cabinets, etc. New furnace and H2O heater. Bathroom and kitchen plumbing stubbed in and ready to finish. Property being sold As-Is. Must see in person to appreciate the potential. Call Realtor today to schedule your showing.

21. 2022-02-09
    soldstatus $114,000 Closed
22. 2022-01-18
    status Pending
23. 2021-10-08
    listed $149,000 Active
24. 2021-09-15
    historical
25. 2021-07-14
    listed $169,000

ⓘ 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: $598 · $50/mo
• Projected year-2 tax: $928 · $77/mo
• Expected delta: +$330/yr (+$28/mo · 55.2%)

ⓘ 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 ≥102°F today · 16 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 0% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $16,107
• − Mortgage interest: −$8,290
• − Property taxes: −$598
• − Insurance: −$740
• − Repairs & maintenance: −$1,289
• − Management: −$1,289
• − Depreciation: −$4,305
• Taxable loss: −$403
• Est. tax savings @ 24.0%: +$97
• After-tax cash flow: $2,170/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: Porter Township School Corporation
• NCES district ID: 1809180
• Math proficiency: 33% ▼ -7.00%
• Reading proficiency: 49% ▼ -4.00%
• Median HH income: $77,819
• Composite: 37.92/100
• National rank: #4311
• State rank: #103 of 301 in IN

Livability — Boone Grove

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

Census & demographics

• Census place: Boone Grove, IN
• Population (ZIP): 36

Population outlook (Porter County) Hauer SSP2

• Today (2025): 177,804 people
• By 2030: 181,552 · +2.1%
• By 2040: 185,830 · +4.5%
• By 2050: 187,498 · +5.5%
• By 2075: 189,585 · +6.6%
• By 2100: 183,722 · +3.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (100%)
• Race & ethnicity: White 100%
• Common ancestry: Iranian 14% Italian 14%

Political lean MEDSL · Porter

• 2024 margin: R (+10.5) · D 43.8% · R 54.3% · Other 1.8%
• 2008→2024 swing: -17.7pp toward R · 2008: 7.2pp · 2024: -10.5pp
• All cycles: 2024: R+10.5 2020: R+6.1 2016: R+6.8 2012: D+3.8 2008: D+7.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: —
• Current HPI: —
• 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

-12.4% since first listed

18 events — show timeline

• 2026-05-20 Pending — NIRA MLS as Distributed by MLS Grid
• 2026-04-02 Price Changed $148,000 NIRA MLS as Distributed by MLS Grid
• 2026-02-02 Price Changed $179,000 NIRA MLS as Distributed by MLS Grid
• 2026-01-08 Price Changed $189,000 NIRA MLS as Distributed by MLS Grid
• 2025-12-06 Price Changed $193,000 NIRA MLS as Distributed by MLS Grid
• 2025-10-24 Price Changed $199,900 NIRA MLS as Distributed by MLS Grid
• 2025-10-04 Price Changed $219,000 NIRA MLS as Distributed by MLS Grid
• 2025-08-21 Listed $224,900 NIRA MLS as Distributed by MLS Grid
• 2023-09-19 Sold (MLS) $90,000 NIRA MLS as Distributed by MLS Grid
• 2023-09-12 Pending — NIRA MLS as Distributed by MLS Grid
• 2023-08-24 Price Changed $120,000 NIRA MLS as Distributed by MLS Grid
• 2023-08-03 Price Changed $130,000 NIRA MLS as Distributed by MLS Grid
• 2023-07-28 Listed $140,000 NIRA MLS as Distributed by MLS Grid
• 2022-02-09 Sold (MLS) $114,000 NIRA MLS as Distributed by MLS Grid
• 2022-01-18 Pending — NIRA MLS as Distributed by MLS Grid
• 2021-10-08 Listed $149,000 NIRA MLS as Distributed by MLS Grid
• 2021-09-15 Listing Removed — NIRA MLS as Distributed by MLS Grid
• 2021-07-14 Listed $169,000 NIRA MLS as Distributed by MLS Grid

Property tax history

-3.8%/yr

Latest (2024): $598 · +15.4% YoY. Source: county tax records.