301 W Jackson Blvd · Elkhart, IN 46516

$130,000

6 bd · 5.0 ba · 2,394 sqft · MultiFamily public records · 13 Days on market

Built 1900 3,398 sqft lot Est $208k · 38% under ↓ 28% since listing

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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 +25.3/30.0
• ARV discount +15.0/15.0
• DSCR +8.3/10.0
• 1% rule +7.0/10.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.8/10.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 1 unit. estimate disagrees with records

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks

Great investment opportunity in a prime downtown location. This well-maintained property is currently utilized as a rental and offers strong income potential with flexibility for a variety of future uses. Pride of ownership is evident throughout, setting it apart from many comparable properties. Ideally situated near shopping, dining, and public transportation, the location provides convenience and consistent rental appeal. Whether you’re looking to continue its current use, reconfigure the layout, or tailor the space to fit your investment strategy, this property offers versatility and long-term upside. Don’t miss the opportunity to own a property that combines solid performanc

Key facts

• Versatility
• 3,398 sq ft lot
• 2 parking spots

Tags

• INVESTMENT OPPORTUNITY
• PRIME DOWNTOWN LOCATION
• STRONG INCOME POTENTIAL
• VARIETY OF FUTURE USES
• CONSISTENT RENTAL APPEAL
• VERSATILITY

Property features AI

Finance

• Other: Above-grade finished area approximately 2,394; Below-grade finished area approximately 108; Listed as 'Other' sub-type in MLS
• Financial info: Annual tax listed (amount withheld from display)

Exterior

• Parking: 2 open parking spaces
• Utilities: Public water; Public sewer
• Home design: Residential income property; 2 stories
• Construction: Wood siding
• Exterior features: Corner lot; Lot dimensions approximately 40 x 83; Zoned CBD (Central Business District); Pets allowed with breed restrictions

Interior

• Kitchen: Microwave, Range, Refrigerator
• Bathrooms: 3 full bathrooms; 7 main-level bathrooms
• Heating & cooling: Natural gas heating; Hot water heating; Has heating
• Interior features: Microwave, Range, Refrigerator; Full, partially finished basement

What this means for you Summary

Snapshot

• This is a 6-bed/5.0-bath multifamily listed at $130k.

Deal economics

• At list price, monthly cash flow is $294 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $130k).
• Cap rate 9.0% vs local median 4.0% in Elkhart — 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 68/100 on livability (#224 in IN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: amenities C-, crime F, commute F.
• Elkhart Community Schools (urban): math 18% / reading 25% proficiency, ranked #271 of 301 in IN (top 90%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Beardsley Elementary School (math 9% / reading 8%, grade F, #939 of 994 statewide, top 95%, 457 students, 73% FRL); North Side Middle School (math 15% / reading 31%, grade F, #263 of 330 statewide, top 80%, 627 students, 72% FRL); Elkhart High School (math 17% / reading 51%, grade F, #285 of 369 statewide, top 78%, 3,325 students, 63% FRL).
• Market conditions: 150 active listings in the ZIP; 484 units permitted in Elkhart County in 2024 (136 in 5+ unit buildings).
• This rent runs 33% of the median local income ($56k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $899 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 13 days on market — expect competitive offers; lowballing is unlikely to land.
• 9 sale attempts since 2y ago 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 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $130,000

Questions for the listing agent

1. Built in 1900 — 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 F-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 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?
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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.20% ✓
• Cap rate: 9.00%
• Cash-on-cash: 9.68%
• DSCR: 1.43
• GRM: 7.0

CMA / ARV

• ARV (on-the-fly): $208,278
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
313/315 N Riverside Dr	0.41mi	6/2.0	2,448 (+2%)	12mo	$212,000	$87	55

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: -1.7%
• Equity multiple: 0.94×
• Total profit: $-2,312
• Equity at exit: $19,383

10-year hold

• IRR: 8.0%
• Equity multiple: 1.61×
• Total profit: $22,264
• Equity at exit: $11,240

Cash invested: $36,400 (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 46516

• Active inventory: 150
• Price-to-rent: 7.0×

Monthly cashflow live

• Estimated rent: $1,556 medium
• Mortgage (P&I): −$682
• Tax from tax record: −$200 /mo · $2,395/yr
• Insurance: −$54
• HOA: −$0
• Vacancy / Maint / Mgmt: −$327
• Net cashflow: $294

Break-even live

Break-even rent $1,184

Max offer price $130,000

Occupancy floor 76%

Sensitivity live

Price	-10% $367	-5% $331	+0% $294	+5% $257	+10% $220
Rent	-10% $171	-5% $232	+0% $294	+5% $355	+10% $417
Rate	-1.0pp $359	-0.5pp $327	base $294	+0.5pp $260	+1.0pp $226

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: $32,500
• Closing costs: $3,900
• Reserves months: —
• Total cash needed: —

Listing history 19 events

1. 2026-06-01
   statusdays on market $130,000 Pending 13 DOM
2. 2026-05-31
   days on market $130,000 Active 12 DOM
3. 2026-05-30
   days on market $130,000 Active 11 DOM
4. 2026-05-21
   status Active
5. 2026-05-07
   status Pending
6. 2026-05-05
   listed $130,000 Active
7. 2025-11-07
   price $160,000
8. 2025-11-07
   price $160,000
9. 2025-08-23
   status Active
10. 2025-08-23
    status Active
11. 2025-08-23
    historical
12. 2025-08-23
    historical
13. 2025-07-03
    price $169,900
14. 2025-07-03
    status Active
15. 2025-07-03
    status Active
16. 2025-07-03
    price $169,900
17. 2025-05-20
    status Active
18. 2024-11-01
    listed $179,900 Active
19. 2024-11-01
    listed $179,900 Active

ⓘ 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: $2,395 · $200/mo
• Projected year-2 tax: $2,395 · $200/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 3/10 Moderate FEMA zone X (unshaded) · 12% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥101°F today · 16 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $18,672
• − Mortgage interest: −$7,282
• − Property taxes: −$2,395
• − Insurance: −$650
• − Repairs & maintenance: −$1,494
• − Management: −$1,494
• − Depreciation: −$3,782
• Taxable income: $1,575
• Est. tax owed @ 24.0%: −$378
• After-tax cash flow: $3,147/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: Elkhart Community Schools
• NCES district ID: 1803270
• Math proficiency: 18% ▼ -12.00%
• Reading proficiency: 25% ▼ -9.00%
• Median HH income: $42,881
• Composite: 18.45/100
• National rank: #8928
• State rank: #271 of 301 in IN

Livability — Elkhart

• Score: 68/100
• State rank: #224
• US rank: #9852

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Elkhart, IN
• County: Elkhart County · 107,928 people
• City population: 74,260
• Metro: Elkhart-Goshen, IN
• Population (ZIP): 31,871
• Household income: $56,492
• Rent vs Own: 37.3% rent · 62.7% own
• Severe rent burden: 995.0

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: Diverse neighborhood (Simpson 0.56)
• Race & ethnicity: White 60% Hispanic / Latino 26% Black 9% Two or more races 8% Asian 1%
• Hispanic origin (detail): Mexican 15%
• Common ancestry: Romanian 2% Iranian 2% Lithuanian 2%
• Foreign-born: 15% · Canada
• Languages at home: 77% English-only · Spanish 19% Other Indo-European 3%

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: ▼ -233.42%
• Current HPI: 239.2508
• Rent YoY: —
• Metro: Elkhart-Goshen, IN
• 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

-27.7% since first listed

17 events — show timeline

• 2026-06-01 Pending — IRMLS
• 2026-05-21 Relisted — IRMLS
• 2026-05-07 Pending — IRMLS
• 2026-05-05 Listed $130,000 IRMLS
• 2025-11-07 Price Changed $160,000 IRMLS
• 2025-11-07 Price Changed $160,000 IRMLS
• 2025-08-23 Relisted — IRMLS
• 2025-08-23 Relisted — IRMLS
• 2025-08-23 Delisted — IRMLS
• 2025-08-23 Delisted — IRMLS
• 2025-07-03 Price Changed $169,900 IRMLS
• 2025-07-03 Relisted — IRMLS
• 2025-07-03 Relisted — IRMLS
• 2025-07-03 Price Changed $169,900 IRMLS
• 2025-05-20 Relisted — IRMLS
• 2024-11-01 Listed $179,900 IRMLS
• 2024-11-01 Listed $179,900 IRMLS

Property tax history

-1.9%/yr

Latest (2025): $2,395 · +20.4% YoY. Source: county tax records.