457 E Centennial St · Nappanee, IN 46550

$99,900

1 bd · 1.0 ba · 1,039 sqft · SingleFamily public records · 4 Days on market

Built 1900 8,276 sqft lot Est $163k · 39% under

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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 +16.7/30.0
• ARV discount +15.0/15.0
• DSCR +5.2/10.0
• Schools +5.1/10.0
• 1% rule +4.3/10.0
• Livability +4.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Nappanee - Priced to sell quickly and with no inspections. Not because seller knows of any problems (see disclosure) but because this house has had improvements started but many things left partly finished. The house is absolutely livable in current condition. Listing as a 2 bedroom but the 2nd bedroom is the landing at the top of stairs. This house will make a nice home for someone who understands the quirks of an older house and the value. You cannot over improve this home due to location! Big backyard & pretty street among nice homes. SELLER WILL NOT RESPOND TO ANY OFFERS IN LESS THAN 48 HOURS!

Key facts

• 8,276 sq ft lot
• Garage
• Built 1900

Property features AI

Finance

• Other: Property listed as residential single-family residence
• Financial info: Financial details not provided
• HOA & community: No subdivision / HOA information provided

Exterior

• Parking: Attached garage (1 car)
• Security: Security information not provided
• Utilities: Public water; Public sewer
• Home design: Single-family site-built home; One story
• Construction: Vinyl siding; Construction year not provided; Roof and foundation details not provided
• Exterior features: Level lot; Lot dimensions approximately 65 x 132

Interior

• Kitchen: Kitchen details not provided
• Bedrooms: Bedrooms information not provided
• Flooring: Flooring details not provided
• Bathrooms: One full bathroom (main level)
• Heating & cooling: Baseboard heating; Hot water heating; No cooling
• Interior features: Basement present; Total of 7 rooms
• Laundry & utility: Laundry on the main level

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath single-family listed at $100k.

Deal economics

• At list price, monthly cash flow is $63 ($753/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 $93k (7.2% below list).
• Recommended offer: $93k (7.2% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 82/100 on livability (#14 in IN, #1,279 nationally) — a professional / high-income tenant draw. Strengths: cost of living A+, housing A+, health & safety A+; Watch: commute F.
• Wa-Nee Community Schools (rural): math 61% / reading 57% proficiency, ranked #21 of 301 in IN (top 7%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Nappanee Elementary School (math 67% / reading 52%, grade B-, #128 of 994 statewide, top 15%, 366 students, 41% FRL) — zoned schools average 41% FRL vs 25% district-wide (16 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 24 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals leasing fast (median 13d on market — plan ~1-2 weeks tenant-placement turnaround); 484 units permitted in Elkhart County in 2024 (136 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $691 of loan paydown is wiped out by about $3k 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 4 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $92,743 (7.2% below list)

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. 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.
4. 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.
5. 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: 0.93% ✗
• Cap rate: 7.05%
• Cash-on-cash: 2.69%
• DSCR: 1.12
• GRM: 9.0

CMA / ARV

• ARV (on-the-fly): $163,123
• Comps found: 11

Show comp detail 11 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
606 E John St	0.23mi	2/1.0 (+1)	1,056 (+2%)	1mo	$193,000	$183	80
152 N Nappanee St	0.49mi	2/1.0 (+1)	1,064 (+2%)	3mo	$160,000	$150	66
706 N Main St	0.40mi	2/1.0 (+1)	1,021 (-2%)	10mo	$160,000	$157	65
1058 E Market St	0.35mi	2/1.0 (+1)	956 (-8%)	4mo	$130,000	$136	62
353 S Nappanee St	0.53mi	2/1.0 (+1)	980 (-6%)	2mo	$165,000	$168	59
252 Highland St	0.39mi	2/1.0 (+1)	1,116 (+7%)	9mo	$188,000	$168	57
1200 E Walnut St	0.42mi	2/1.0 (+1)	1,100 (+6%)	20mo	$173,500	$158	50
706 S Elm St	0.57mi	2/1.0 (+1)	1,120 (+8%)	12mo	$170,000	$152	46
1374 Maple Ln	0.72mi	2/2.0 (+1)	1,064 (+2%)	12mo	$210,000	$197	43
256 Reed St	0.54mi	2/1.0 (+1)	1,128 (+9%)	16mo	$165,000	$146	42
502 S Locke St	0.57mi	2/1.0 (+1)	1,120 (+8%)	23mo	$169,000	$151	36

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: -12.0%
• Equity multiple: 0.56×
• Total profit: $-12,191
• Equity at exit: $14,895

10-year hold

• IRR: -2.9%
• Equity multiple: 0.80×
• Total profit: $-5,465
• Equity at exit: $8,638

Cash invested: $27,972 (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 46550

• Home prices YoY: -22.3%
• Active inventory: 24
• Price-to-rent: 9.0×

Monthly cashflow live

• Estimated rent: $927 medium
• Mortgage (P&I): −$524
• Tax from tax record: −$104 /mo · $1,253/yr
• Insurance: −$42
• HOA: −$0
• Vacancy / Maint / Mgmt: −$195
• Net cashflow: $63

Break-even live

Break-even rent $848

Max offer price $99,900

Occupancy floor 88%

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: $24,975
• Closing costs: $2,997
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1200 N Main St Unit 206 Nappanee, IN	2.0	1.0	850	$950	$1.12	21d	1	0.65mi
903 Bison Rdg Nappanee, IN	1.0–2.0	1.0–1.5	764	$895	$1.17	13d	1	0.78mi
11 Cardinal St Nappanee, IN	1.0–3.0	1.0–2.0	1344	$930	$0.69	13d	1	0.98mi

Listing history 4 events

1. 2026-06-13
   statusdays on market $99,900 Pending 4 DOM
2. 2026-06-10
   days on market $99,900 Active 2 DOM
3. 2026-06-09
   remarks 608-char remark
4. 2026-06-09
   listed $99,900 Active 1 DOM

ⓘ 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: $1,253 · $104/mo
• Projected year-2 tax: $1,253 · $104/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 2/10 Low 7 d/yr ≥99°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: $11,129
• − Mortgage interest: −$5,596
• − Property taxes: −$1,253
• − Insurance: −$500
• − Repairs & maintenance: −$890
• − Management: −$890
• − Depreciation: −$2,906
• Taxable loss: −$906
• Est. tax savings @ 24.0%: +$217
• After-tax cash flow: $970/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: Wa-Nee Community Schools
• NCES district ID: 1812240
• Math proficiency: 61% ▼ -1.00%
• Reading proficiency: 57% ▼ -5.00%
• Median HH income: $53,956
• Composite: 50.65/100
• National rank: #1830
• State rank: #21 of 301 in IN

Livability — Nappanee

• Score: 82/100
• State rank: #14
• US rank: #1279

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Nappanee, IN
• City population: 12,442
• Population (ZIP): 12,442

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: Predominantly White (83%)
• Race & ethnicity: White 83% Hispanic / Latino 13% Two or more races 6% Native American 3% Asian 1% Black 1%
• Hispanic origin (detail): Mexican 10% Puerto Rican 2%
• Common ancestry: Polish 4% Iranian 2% Italian 1%
• Foreign-born: 6% · Canada, China
• Languages at home: 67% English-only · German/W. Germanic 21% Spanish 9% Chinese 1%

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: ▼ -78.37%
• Current HPI: 272.6008
• 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

• 2026-06-08 Listed $99,900 IRMLS

Property tax history

-5.5%/yr

Latest (2025): $1,253 · -0.9% YoY. Source: county tax records.