503 E Main St · Van Buren, IN 46991

$31,200

2 bd · 1.0 ba · 1,186 sqft · SingleFamily public records · 27 Days on market

Built 1940 1.00 ac lot

---

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 +7.3/10.0
• Schools +3.8/10.0
• Livability +3.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

Great opportunity to buy this one story home built in 1940, located in Van Buren, IN and coming with an acre of land with an attached 2 car garage and a polebarn. The interior has 1186 sq. ft. with 2 bedrooms and 1 bathroom.

Key facts

• Acre of land
• One story home
• Interior 1186 sq ft

Tags

• ONE STORY HOME
• ACRE OF LAND
• ATTACHED 2 CAR GARAGE
• POLEBARN
• INTERIOR 1186 SQ FT

Property features AI

Finance

• Other: Property type: Residential

Exterior

• Parking: Attached 2-car garage
• Utilities: Public water; Public sewer
• Home design: Single-story single family home; Site-built residence
• Construction: Wood siding exterior
• Exterior features: Level lot; Lot dimensions approximately 132 x 132 and 198 x 132; Approximately 1 acre parcel; Subdivision: Van Buren

Interior

• Bathrooms: 1 full bathroom (main level)
• Heating & cooling: Natural gas heating; No cooling
• Interior features: Crawl space basement; 5 total rooms

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $31k.

Deal economics

• At list price, monthly cash flow is $591 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $31k).
• Recommended offer: $31k (1.5% below list) — sets the bar for market timing.

Location & tenants

• Location reads 60/100 on livability (#529 in IN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A-; Watch: health & safety C-, crime D, amenities F.
• Eastbrook Community School Corporation (rural): math 42% / reading 46% proficiency, ranked #98 of 301 in IN (top 33%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Eastbrook North Elementary (math 43% / reading 34%, grade F, #535 of 994 statewide, top 54%, 307 students, 52% FRL); Eastbrook Middle School (math 30% / reading 45%, grade F, #146 of 330 statewide, top 46%, 399 students, 48% FRL); Eastbrook High School (math 52% / reading 72%, grade B-, #41 of 369 statewide, top 12%, 509 students, 38% FRL).
• Market conditions: 9 active listings in the ZIP; 52 units permitted in Grant County in 2024 (8 in 5+ unit buildings).

Forward outlook

• In year one you build about $2k of equity ($216 loan paydown + $1k appreciation (4.6% local appreciation)).
• Grant County population projected at -18% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (4.6% appreciation + 3.0% rent growth), your $9k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 27 days — a 2% lower offer ($31k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Risks & watch-outs

• Watch-outs: built in 1940 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $30,732 (1.5% below list)

Questions for the listing agent

1. Built in 1940 — 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 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?
4. Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
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: 3.27% ✓
• Cap rate: 29.01%
• Cash-on-cash: 81.13%
• DSCR: 4.61
• GRM: 2.5

CMA / ARV

• ARV (on-the-fly): $91,322
• Comps found: 4

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
603 W Main St	0.65mi	3/1.0 (+1)	1,261 (+6%)	1mo	$79,900	$63	54
310 E Jefferson Ct	0.24mi	3/1.0 (+1)	1,040 (-12%)	21mo	$131,500	$126	45
202 S Second St	0.40mi	2/1.0	1,038 (-12%)	23mo	$80,000	$77	42
9419 E 400 N	0.54mi	3/1.0 (+1)	1,067 (-10%)	21mo	$65,000	$61	36

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

Projected returns pro-forma

4.61% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 86.8%
• Equity multiple: 6.05×
• Total profit: $44,143
• Equity at exit: $16,954

10-year hold

• IRR: 85.2%
• Equity multiple: 12.59×
• Total profit: $101,294
• Equity at exit: $28,678

Cash invested: $8,736 (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 46991

• Home prices YoY: 2.4%
• Active inventory: 9
• Price-to-rent: 2.5×

Monthly cashflow live

• Estimated rent: $1,021 medium
• Mortgage (P&I): −$164
• Tax est. 1.5%: −$39 /mo · $468/yr
• Insurance: −$13
• HOA: −$0
• Vacancy / Maint / Mgmt: −$214
• Net cashflow: $591

Break-even live

Break-even rent $273

Max offer price $31,200

Occupancy floor 37%

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: $7,800
• Closing costs: $936
• Reserves months: —
• Total cash needed: —

Listing history 26 events

1. 2026-06-19
   status $31,200 Pending 27 DOM
2. 2026-06-18
   days on market $31,200 Active 27 DOM
3. 2026-06-17
   days on market $31,200 Active 26 DOM
4. 2026-06-16
   days on market $31,200 Active 25 DOM
5. 2026-06-15
   days on market $31,200 Active 24 DOM
6. 2026-06-14
   days on market $31,200 Active 22 DOM
7. 2026-06-12
   days on market $31,200 Active 21 DOM
8. 2026-06-09
   days on market $31,200 Active 18 DOM
9. 2026-06-08
   days on market $31,200 Active 17 DOM
10. 2026-06-07
    days on market $31,200 Active 16 DOM
11. 2026-06-05
    days on market $31,200 Active 13 DOM
12. 2026-06-03
    days on market $31,200 Active 12 DOM
13. 2026-06-02
    days on market $31,200 Active 11 DOM
14. 2026-06-01
    days on market $31,200 Active 10 DOM
15. 2026-05-31
    days on market $31,200 Active 9 DOM
16. 2026-05-30
    days on market $31,200 Active 8 DOM
17. 2026-05-22
    listed $31,200 Active
18. 2025-12-10
    status Active
19. 2025-10-02
    status Pending
20. 2025-10-02
    status Active
21. 2025-08-23
    status Active
22. 2025-08-23
    historical
23. 2025-08-13
    price $70,000
24. 2025-08-06
    price $100,000
25. 2025-07-28
    status Active
26. 2025-07-26
    listed $120,000 Active

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

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 ≥100°F today · 18 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $12,247
• − Mortgage interest: −$1,748
• − Property taxes: −$468
• − Insurance: −$156
• − Repairs & maintenance: −$980
• − Management: −$980
• − Depreciation: −$908
• Taxable income: $7,008
• Est. tax owed @ 24.0%: −$1,682
• After-tax cash flow: $5,406/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: Eastbrook Community School Corporation
• NCES district ID: 1803030
• Math proficiency: 42% ▬ 0.00%
• Reading proficiency: 46% ▼ -1.00%
• Median HH income: $55,030
• Composite: 38.28/100
• National rank: #4234
• State rank: #98 of 301 in IN

Livability — Van Buren

• Score: 60/100
• State rank: #529
• US rank: #19010

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Van Buren, IN
• Population (ZIP): 1,657

Population outlook (Grant County) Hauer SSP2

• Today (2025): 64,394 people
• By 2030: 62,145 · -3.5%
• By 2040: 57,252 · -11.1%
• By 2050: 52,968 · -17.7%
• By 2075: 45,986 · -28.6%
• By 2100: 39,400 · -38.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (90%)
• Race & ethnicity: White 90% Two or more races 7% Hispanic / Latino 3%
• Common ancestry: Serbian 2% Slovak 1% Lithuanian 1%
• Foreign-born: 1% · Canada
• Languages at home: 98% English-only · Spanish 1%

Political lean MEDSL · Grant

• 2024 margin: Solid R (+41.8) · D 28.2% · R 70.0% · Other 1.9%
• 2008→2024 swing: -28.7pp toward R · 2008: -13.1pp · 2024: -41.8pp
• All cycles: 2024: R+41.8 2020: R+38.8 2016: R+39.5 2012: R+22.0 2008: R+13.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 4.61%
• Current HPI: 193.7506
• 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

-74.0% since first listed

10 events — show timeline

• 2026-05-22 Listed $31,200 IRMLS
• 2025-12-10 Relisted — IRMLS
• 2025-10-02 Pending — IRMLS
• 2025-10-02 Relisted — IRMLS
• 2025-08-23 Relisted — IRMLS
• 2025-08-23 Delisted — IRMLS
• 2025-08-13 Price Changed $70,000 IRMLS
• 2025-08-06 Price Changed $100,000 IRMLS
• 2025-07-28 Relisted — IRMLS
• 2025-07-26 Listed $120,000 IRMLS

Property tax history

+10.6%/yr

Latest (2025): $1,715 · +10.6% YoY. Source: county tax records.