1011 W Blaine Ave · Elkhart, IN 46516

$109,900

4 bd · 1.0 ba · 1,738 sqft · SingleFamily public records · 4 Days on market

Built 1910 0.25 ac lot Est $160k · 31% 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 +9.5/10.0
• 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

Listing remarks

3 Bed 2 Bath property with updated roof, vinyl siding, parking pad in the rear, property sold "as is, where is". Good opportunity for someone willing to do a little work.

Key facts

• Updated roof
• Vinyl siding
• Parking pad

Tags

• UPDATED ROOF
• VINYL SIDING
• PARKING PAD

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $110k.

Deal economics

• At list price, monthly cash flow is $429 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $110k).
• Cap rate 11.0% 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: Roosevelt Steam Academy (math 8% / reading 9%, grade F, #939 of 994 statewide, top 95%, 524 students, 83% FRL); West Side Middle School (math 15% / reading 31%, grade F, #263 of 330 statewide, top 80%, 582 students, 67% FRL); Elkhart High School (math 17% / reading 51%, grade F, #285 of 369 statewide, top 78%, 3,325 students, 63% FRL).
• Market conditions: 149 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); 484 units permitted in Elkhart County in 2024 (136 in 5+ unit buildings).
• This rent runs 34% 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 $760 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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $31k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1910 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $109,900

Questions for the listing agent

1. Built in 1910 — 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 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: 1.45% ✓
• Cap rate: 10.98%
• Cash-on-cash: 16.73%
• DSCR: 1.74
• GRM: 5.8

CMA / ARV

• ARV (on-the-fly): $159,896
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1011 W Blaine Ave	0.00mi	3/2.0 (-1)	1,738 (0%)	1mo	$112,000	$64	90
731 W Blaine Ave	0.22mi	3/1.0 (-1)	1,752 (+1%)	4mo	$170,000	$97	80
810 W Wolf Ave	0.20mi	4/1.0	1,604 (-8%)	0mo	$64,000	$40	77
807 Thomas St	0.53mi	3/1.0 (-1)	1,764 (+2%)	5mo	$162,900	$92	64
876 Hiawatha Dr	0.39mi	3/1.0 (-1)	1,608 (-8%)	2mo	$217,000	$135	62
1022 Fieldhouse Ave	0.23mi	3/1.0 (-1)	1,482 (-15%)	1mo	$215,000	$145	59
916 W Cleveland Ave	0.19mi	3/1.0 (-1)	1,484 (-15%)	7mo	$136,000	$92	56
733 W Garfield Ave	0.31mi	4/2.0	1,960 (+13%)	8mo	$100,000	$51	53
337 W Blaine Ave	0.56mi	3/1.0 (-1)	1,624 (-7%)	9mo	$140,000	$86	51
1407 Hudson St	0.69mi	3/1.0 (-1)	1,672 (-4%)	7mo	$57,000	$34	50
2417 Southdale St	0.50mi	3/1.0 (-1)	1,548 (-11%)	10mo	$185,297	$120	45
1301 Harrison St	0.61mi	3/1.0 (-1)	1,549 (-11%)	6mo	$90,000	$58	43

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: 7.9%
• Equity multiple: 1.31×
• Total profit: $9,585
• Equity at exit: $16,386

10-year hold

• IRR: 17.2%
• Equity multiple: 2.42×
• Total profit: $43,802
• Equity at exit: $9,502

Cash invested: $30,772 (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: 149
• Price-to-rent: 5.8×

Monthly cashflow live

• Estimated rent: $1,590 medium
• Mortgage (P&I): −$576
• Tax from tax record: −$205 /mo · $2,455/yr
• Insurance: −$46
• HOA: −$0
• Vacancy / Maint / Mgmt: −$334
• Net cashflow: $429

Break-even live

Break-even rent $1,046

Max offer price $109,900

Occupancy floor 68%

Sensitivity live

Price	-10% $491	-5% $460	+0% $429	+5% $398	+10% $367
Rent	-10% $304	-5% $366	+0% $429	+5% $492	+10% $555
Rate	-1.0pp $484	-0.5pp $457	base $429	+0.5pp $401	+1.0pp $372

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: $27,475
• Closing costs: $3,297
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1568 W Franklin St Elkhart, IN	3.0	2.0	1486	$1,600	$1.08	22d	1	0.55mi
2700 Ridgewood Dr Elkhart, IN	3.0	1.0–2.0	720	$1,450	$2.01	45d	1	1.47mi
2301 W Lexington Ave Elkhart, IN	2.0–3.0	1.5–2.0	1077	$1,460	$1.36	22d	6	1.48mi

Listing history 2 events

1. 2026-04-28
   status Pending
2. 2026-04-24
   listed $109,900 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: $2,455 · $205/mo
• Projected year-2 tax: $2,455 · $205/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 3/10 Moderate 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: $19,075
• − Mortgage interest: −$6,156
• − Property taxes: −$2,455
• − Insurance: −$550
• − Repairs & maintenance: −$1,526
• − Management: −$1,526
• − Depreciation: −$3,197
• Taxable income: $3,665
• Est. tax owed @ 24.0%: −$880
• After-tax cash flow: $4,269/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

2 events — show timeline

• 2026-04-28 Pending — IRMLS
• 2026-04-24 Listed $109,900 IRMLS

Property tax history

+7.2%/yr

Latest (2025): $2,455 · +28.1% YoY. Source: county tax records.