1226 N Walnut St · Brazil, IN 47834

$79,000

5 bd · 2.0 ba · 2,100 sqft · Manufactured public records · 237 Days on market

Built 1977 10,019 sqft lot $38/sqft · 25% below area Est $105k · 25% under

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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
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +9.4/10.0
• Schools +4.0/10.0
• Livability +3.3/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

All on 1 Level. 5 Bedroom, 3 Full Baths. Master bedroom as ensuite as well as a 2nd Bedroom as ensuite. 2100 sq ft Home, Built in 1977, has garage. .23 Acre lot.

Key facts

• 0.23 acre lot
• Garage
• Built 1977

What this means for you Summary

Snapshot

• This is a 5-bed/2.0-bath manufactured listed at $79k.

Deal economics

• At list price, monthly cash flow is $368 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $79k).
• Recommended offer: $70k (12.0% below list) — sets the bar for market timing.
• Cap rate 11.9% vs local median 2.6% in Brazil — 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 66/100 on livability (#308 in IN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: crime F, amenities F, commute F.
• Clay Community Schools (rural): math 46% / reading 49% proficiency, ranked #79 of 301 in IN (top 26%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 95 active listings in the ZIP; 70 units permitted in Clay County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $546 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Clay County population projected at -16% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $22k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 237 days — a 12% lower offer ($70k) is reasonable based on typical stale-listing flexibility.

Recommended offer $69,520 (12.0% below list)

Questions for the listing agent

1. It's been on market 237 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 1977 — 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. Crime grade is F 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?
6. 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.
7. 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.
8. 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: 1.44% ✓
• Cap rate: 11.88%
• Cash-on-cash: 19.95%
• DSCR: 1.89
• GRM: 5.8

CMA / ARV

• ARV (median comp): $105,000
• List price: $79,000
• Delta: -24.76%
• Verdict: UNDERPRICED
• Comps: 1 within 2.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 12.1%
• Equity multiple: 1.48×
• Total profit: $10,625
• Equity at exit: $11,779

10-year hold

• IRR: 21.0%
• Equity multiple: 2.78×
• Total profit: $39,442
• Equity at exit: $6,830

Cash invested: $22,120 (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 47834

• Home prices YoY: -20.8%
• Active inventory: 95
• Price-to-rent: 5.8×

Monthly cashflow live

• Estimated rent: $1,140 medium
• Mortgage (P&I): −$414
• Tax from tax record: −$86 /mo · $1,029/yr
• Insurance: −$33
• HOA: −$0
• Vacancy / Maint / Mgmt: −$239
• Net cashflow: $368

Break-even live

Break-even rent $675

Max offer price $79,000

Occupancy floor 63%

Sensitivity live

Price	-10% $412	-5% $390	+0% $368	+5% $345	+10% $323
Rent	-10% $278	-5% $323	+0% $368	+5% $413	+10% $458
Rate	-1.0pp $407	-0.5pp $388	base $368	+0.5pp $347	+1.0pp $326

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: $19,750
• Closing costs: $2,370
• Reserves months: —
• Total cash needed: —

Listing history 17 events

1. 2026-06-19
   days on market $79,000 Active 237 DOM
2. 2026-06-18
   days on market $79,000 Active 236 DOM
3. 2026-06-17
   days on market $79,000 Active 235 DOM
4. 2026-06-16
   days on market $79,000 Active 234 DOM
5. 2026-06-15
   days on market $79,000 Active 233 DOM
6. 2026-06-14
   days on market $79,000 Active 231 DOM
7. 2026-06-13
   days on market $79,000 Active 230 DOM
8. 2026-06-10
   days on market $79,000 Active 228 DOM
9. 2026-06-09
   days on market $79,000 Active 227 DOM
10. 2026-06-08
    days on market $79,000 Active 226 DOM
11. 2026-06-07
    days on market $79,000 Active 225 DOM
12. 2026-06-05
    days on market $79,000 Active 222 DOM
13. 2026-06-02
    days on market $79,000 Active 220 DOM
14. 2026-06-01
    days on market $79,000 Active 219 DOM
15. 2026-05-31
    days on market $79,000 Active 218 DOM
16. 2026-05-30
    days on market $79,000 Active 217 DOM
17. 2025-10-25
    listed $79,000 Active 161-char remark

    Show marketing remark (161 chars)

    All on 1 Level. 5 Bedroom, 3 Full Baths. Master bedroom as ensuite as well as a 2nd Bedroom as ensuite. 2100 sq ft Home, Built in 1977, has garage. .23 Acre lot.

ⓘ 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: $1,029 · $86/mo
• Projected year-2 tax: $1,029 · $86/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 4/10 Moderate 7 d/yr ≥104°F today · 19 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% 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: $13,680
• − Mortgage interest: −$4,425
• − Property taxes: −$1,029
• − Insurance: −$395
• − Repairs & maintenance: −$1,094
• − Management: −$1,094
• − Depreciation: −$2,298
• Taxable income: $3,344
• Est. tax owed @ 24.0%: −$803
• After-tax cash flow: $3,609/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: Clay Community Schools
• NCES district ID: 1800840
• Math proficiency: 46% ▼ -6.00%
• Reading proficiency: 49% ▼ -1.00%
• Median HH income: $46,673
• Composite: 40.39/100
• National rank: #3733
• State rank: #79 of 301 in IN

Livability — Brazil

• Score: 66/100
• State rank: #308
• US rank: #12163

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Brazil, IN
• City population: 18,773
• Population (ZIP): 18,773

Population outlook (Clay County) Hauer SSP2

• Today (2025): 25,820 people
• By 2030: 25,182 · -2.5%
• By 2040: 23,562 · -8.7%
• By 2050: 21,829 · -15.5%
• By 2075: 17,939 · -30.5%
• By 2100: 14,042 · -45.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (94%)
• Race & ethnicity: White 94% Two or more races 4% Hispanic / Latino 2%
• Common ancestry: Slovak 1% Iranian 1% Italian 1%
• Foreign-born: 1% · Canada, Jamaica
• Languages at home: 99% English-only · Spanish 1%

Political lean MEDSL · Clay

• 2024 margin: Solid R (+56.9) · D 20.7% · R 77.6% · Other 1.7%
• 2008→2024 swing: -45.4pp toward R · 2008: -11.5pp · 2024: -56.9pp
• All cycles: 2024: R+56.9 2020: R+56.6 2016: R+55.3 2012: R+31.4 2008: R+11.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -58.68%
• Current HPI: 223.6707
• 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

1 event — show timeline

• 2025-10-25 Listed $79,000 IRMLS

Property tax history

+8.7%/yr

Latest (2024): $1,029 · -15.8% YoY. Source: county tax records.