7240 E SR 8 Rd · Bass Lake, IN 46534

$165,000

4 bd · 2.0 ba · 1,440 sqft · SingleFamily public records · 3 Days on market

Built 1967 1.60 ac lot Est $166k · at est.

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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 +27.7/30.0
• DSCR +9.8/10.0
• ARV discount +7.7/15.0
• 1% rule +6.6/10.0
• Livability +3.1/5.0
• Schools +2.6/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

BACK ON THE MARKET NO FAULT OF SELLER - Don’t miss your opportunity to own this 4-bedroom, 2 full-bath home located in Knox, Indiana! This property offers river frontage and plenty of potential. Featuring a two-car attached garage and a fenced backyard, it’s a fantastic opportunity for a buyer to create real value, just bring your vision and make it your own. Priced at $165,000, this one is full of possibilities. Schedule your showing today!

Key facts

• River frontage
• Fenced backyard
• 1.6 acre lot

Tags

• RIVER FRONTAGE
• FENCED BACKYARD

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $165k.

Deal economics

• At list price, monthly cash flow is $375 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $165k).
• Cap rate 9.9% vs local median 4.4% in Bass Lake — 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 61/100 on livability (#494 in IN) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A; Watch: employment C-, amenities F, commute F.
• Knox Community School Corporation (town): math 27% / reading 34% proficiency, ranked #242 of 301 in IN (top 80%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Knox Community Elementary School (math 47% / reading 38%, grade F, #425 of 994 statewide, top 44%, 704 students, 66% FRL); Knox Community Middle School (math 18% / reading 24%, grade F, #270 of 330 statewide, top 82%, 470 students, 66% FRL); Knox Community High School (math 32% / reading 62%, grade D-, #143 of 369 statewide, top 44%, 572 students, 66% FRL).
• Market conditions: 146 active listings in the ZIP; 58 units permitted in Starke County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• Starke County population projected at -23% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.
• 12 sale attempts since 15y 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.
• Current owner paid $70k; list at $165k implies a 136% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $125/mo.
• Climate carrying-cost: in FEMA flood zone A (mandatory federal flood insurance) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $165,000

Questions for the listing agent

1. Built in 1967 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
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: 1.16% ✓
• Cap rate: 9.93%
• Cash-on-cash: 12.99%
• DSCR: 1.58
• GRM: 7.2

CMA / ARV

• ARV (on-the-fly): $165,600
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
7240 E SR 8 Rd	0.00mi	4/2.0	1,440 (0%)	1mo	$165,000	$115	100

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: -1.6%
• Equity multiple: 0.94×
• Total profit: $-2,827
• Equity at exit: $24,602

10-year hold

• IRR: 8.1%
• Equity multiple: 1.61×
• Total profit: $28,390
• Equity at exit: $14,266

Cash invested: $46,200 (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 46534

• Home prices YoY: -19.2%
• Active inventory: 146
• Price-to-rent: 7.2×

Monthly cashflow live

• Estimated rent: $1,907 medium
• Mortgage (P&I): −$865
• Tax from tax record: −$72 /mo · $865/yr
• Insurance: −$69
• Flood insurance flood zone: −$125 /mo · $1,502/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$400
• Net cashflow: $375

Break-even live

Break-even rent $1,432

Max offer price $165,000

Occupancy floor 75%

Sensitivity live

Price	-10% $468	-5% $422	+0% $375	+5% $328	+10% $282
Rent	-10% $224	-5% $300	+0% $375	+5% $450	+10% $526
Rate	-1.0pp $458	-0.5pp $417	base $375	+0.5pp $332	+1.0pp $289

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: $41,250
• Closing costs: $4,950
• Reserves months: —
• Total cash needed: —

Listing history 24 events

1. 2026-04-17
   status Pending
2. 2026-04-16
   status Active
3. 2026-03-17
   status Pending
4. 2026-03-12
   listed $165,000 Active
5. 2024-02-28
   historical
6. 2024-02-28
   historical
7. 2024-02-28
   historical
8. 2015-07-10
   historical
9. 2015-05-18
   soldstatus $70,000
10. 2014-09-09
    historical
11. 2014-09-09
    historical
12. 2014-07-24
    listed $79,900
13. 2014-01-25
    historical
14. 2013-04-04
    historical
15. 2013-01-24
    listed $79,900
16. 2013-01-18
    listed $79,900
17. 2013-01-18
    listed $79,900
18. 2012-09-08
    historical
19. 2012-09-01
    listed $94,900
20. 2012-02-07
    listed $94,900
21. 2012-02-07
    listed $94,900
22. 2012-02-07
    listed $99,900
23. 2011-07-07
    listed $99,900
24. 2011-07-07
    listed $99,900

ⓘ 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: $865 · $72/mo
• Projected year-2 tax: $1,134 · $94/mo
• Expected delta: +$269/yr (+$22/mo · 31.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 2/10 Low FEMA zone A · 9% 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 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $22,882
• − Mortgage interest: −$9,243
• − Property taxes: −$865
• − Insurance: −$2,328
• − Repairs & maintenance: −$1,831
• − Management: −$1,831
• − Depreciation: −$4,800
• Taxable income: $1,985
• Est. tax owed @ 24.0%: −$476
• After-tax cash flow: $4,024/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: Knox Community School Corporation
• NCES district ID: 1805340
• Math proficiency: 27% ▼ -9.00%
• Reading proficiency: 34% ▼ -8.00%
• Median HH income: $39,955
• Composite: 25.64/100
• National rank: #7401
• State rank: #242 of 301 in IN

Livability — Bass Lake

• Score: 61/100
• State rank: #494
• US rank: #17594

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 11,029

Population outlook (Starke County) Hauer SSP2

• Today (2025): 21,860 people
• By 2030: 21,024 · -3.8%
• By 2040: 19,041 · -12.9%
• By 2050: 16,881 · -22.8%
• By 2075: 11,880 · -45.7%
• By 2100: 7,217 · -67.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (92%)
• Race & ethnicity: White 92% Hispanic / Latino 4% Two or more races 3%
• Common ancestry: Romanian 5% Lithuanian 2% Slovak 2%
• Foreign-born: 2% · Canada
• Languages at home: 96% English-only · Spanish 2% Other Indo-European 2% German/W. Germanic 1%

Political lean MEDSL · Starke

• 2024 margin: Solid R (+52.0) · D 23.2% · R 75.3% · Other 1.5%
• 2008→2024 swing: -55.3pp toward R · 2008: 3.2pp · 2024: -52.0pp
• All cycles: 2024: R+52.0 2020: R+46.8 2016: R+42.0 2012: R+10.6 2008: D+3.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -58.15%
• Current HPI: 244.2216
• 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

+65.2% since first listed

24 events — show timeline

• 2026-04-17 Pending — IRMLS
• 2026-04-16 Relisted — IRMLS
• 2026-03-17 Pending — IRMLS
• 2026-03-12 Listed $165,000 IRMLS
• 2024-02-28 Listing Removed — NIRA MLS as Distributed by MLS Grid
• 2024-02-28 Listing Removed — NIRA MLS as Distributed by MLS Grid
• 2024-02-28 Listing Removed — NIRA MLS as Distributed by MLS Grid
• 2015-07-10 Listing Removed — NIRA MLS as Distributed by MLS Grid
• 2015-05-18 Sold (MLS) $70,000 NIRA MLS as Distributed by MLS Grid
• 2014-09-09 Listing Removed — NIRA MLS as Distributed by MLS Grid
• 2014-09-09 Listing Removed — NIRA MLS as Distributed by MLS Grid
• 2014-07-24 Listed $79,900 NIRA MLS as Distributed by MLS Grid
• 2014-01-25 Listing Removed — NIRA MLS as Distributed by MLS Grid
• 2013-04-04 Listing Removed — NIRA MLS as Distributed by MLS Grid
• 2013-01-24 Listed $79,900 NIRA MLS as Distributed by MLS Grid
• 2013-01-18 Listed $79,900 NIRA MLS as Distributed by MLS Grid
• 2013-01-18 Listed $79,900 NIRA MLS as Distributed by MLS Grid
• 2012-09-08 Listing Removed — NIRA MLS as Distributed by MLS Grid
• 2012-09-01 Listed $94,900 NIRA MLS as Distributed by MLS Grid
• 2012-02-07 Listed $99,900 NIRA MLS as Distributed by MLS Grid
• 2012-02-07 Listed $94,900 NIRA MLS as Distributed by MLS Grid
• 2012-02-07 Listed $94,900 NIRA MLS as Distributed by MLS Grid
• 2011-07-07 Listed $99,900 NIRA MLS as Distributed by MLS Grid
• 2011-07-07 Listed $99,900 NIRA MLS as Distributed by MLS Grid

Property tax history

-4.6%/yr

Latest (2024): $865 · +7.8% YoY. Source: county tax records.