619 W Indiana Ave · Elkhart, IN 46516

$111,599

3 bd · 1.0 ba · 1,190 sqft · SingleFamily public records · 110 Days on market

Built 1900 0.26 ac lot $94/sqft · 13% below area Est $128k · 13% 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 +21.4/30.0
• ARV discount +13.3/15.0
• DSCR +6.8/10.0
• 1% rule +6.0/10.0
• 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

Listing remarks MLS

Charming 3-bedroom, 1-bath home offering 1,190 sq ft of comfortable living space! Now vacant and ready for immediate occupancy, this property is perfect for an owner-occupant looking to make it their own. Features a functional layout with spacious living areas and great natural light throughout. The large backyard provides plenty of room for entertaining, gardening, pets, or future expansion. Conveniently located near schools, shopping, and main roadways for easy daily living. A great opportunity to own instead of rent

Key facts

• Great natural light
• Large backyard
• Functional layout

Tags

• LARGE BACKYARD
• FUNCTIONAL LAYOUT
• SPACIOUS LIVING AREAS
• GREAT NATURAL LIGHT
• CONVENIENTLY LOCATED

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $112k.

Deal economics

• At list price, monthly cash flow is $165 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $112k).
• Recommended offer: $102k (9.0% below list) — sets the bar for market timing.
• Cap rate 8.1% 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-, schools F, crime 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.
• Market conditions: 149 active listings in the ZIP; 10 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 weeks tenant-placement turnaround); 40% of comp listings sitting > 30 days — soft ceiling on asking rent; 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 $771 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

• It's been on market 110 days — a 9% lower offer ($102k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 5y 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 $101,555 (9.0% below list)

Questions for the listing agent

1. It's been on market 110 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1900 — 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. 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?
6. 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?
7. 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.
8. 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.
9. 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: 1.10% ✓
• Cap rate: 8.07%
• Cash-on-cash: 6.35%
• DSCR: 1.28
• GRM: 7.6

CMA / ARV

• ARV (median comp): $128,269
• List price: $111,599
• Delta: -13.00%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
735 W Blaine Ave	0.32mi	3/1.0	1,232 (+4%)	8mo	$175,000	$142	72
722 W Wolf Ave	0.22mi	2/1.0 (-1)	1,144 (-4%)	7mo	$58,650	$51	72
1516 10th St	0.30mi	3/2.0	1,242 (+4%)	8mo	$135,000	$109	68
919 W Wolf Ave	0.35mi	2/1.5 (-1)	1,276 (+7%)	1mo	$128,000	$100	64
1222 W Blaine Ave	0.55mi	3/2.0	1,200 (+1%)	7mo	$271,000	$226	63
1218 Lafayette St	0.51mi	2/1.0 (-1)	1,242 (+4%)	4mo	$89,900	$72	61
1213 Hudson St	0.68mi	2/1.0 (-1)	1,230 (+3%)	4mo	$87,500	$71	55
190 S Shore Dr	0.74mi	3/1.0	1,292 (+9%)	2mo	$120,000	$93	50
346 W Dinehart Ave	0.61mi	3/1.0	1,040 (-13%)	7mo	$230,000	$221	45
2023 Prairie St	0.69mi	3/2.0	1,328 (+12%)	1mo	$185,000	$139	44
1432 W Indiana Ave	0.68mi	3/1.0	1,344 (+13%)	5mo	$95,500	$71	43
2010 Roys Ave	0.75mi	2/1.0 (-1)	1,330 (+12%)	9mo	$125,000	$94	33

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: -6.5%
• Equity multiple: 0.76×
• Total profit: $-7,515
• Equity at exit: $16,640

10-year hold

• IRR: 3.2%
• Equity multiple: 1.23×
• Total profit: $7,179
• Equity at exit: $9,649

Cash invested: $31,248 (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: 7.6×

Monthly cashflow live

• Estimated rent: $1,231 high
• Mortgage (P&I): −$585
• Tax from tax record: −$176 /mo · $2,108/yr
• Insurance: −$46
• HOA: −$0
• Vacancy / Maint / Mgmt: −$259
• Net cashflow: $165

Break-even live

Break-even rent $1,022

Max offer price $111,599

Occupancy floor 82%

Sensitivity live

Price	-10% $228	-5% $197	+0% $165	+5% $134	+10% $102
Rent	-10% $68	-5% $117	+0% $165	+5% $214	+10% $263
Rate	-1.0pp $222	-0.5pp $194	base $165	+0.5pp $136	+1.0pp $107

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: $27,900
• Closing costs: $3,348
• Reserves months: —
• Total cash needed: —

Rent comps 10 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
524 W High St Unit 1/2 Elkhart, IN	2.0	1.0	750	$775	$1.03	45d	1	0.68mi
660 Stamp Dr Elkhart, IN	2.0	1.0	1120	$1,250	$1.12	22d	1	0.69mi
647 W Lexington Ave Unit C Elkhart, IN	2.0	1.0	860	$995	$1.16	22d	1	0.76mi
1568 W Franklin St Elkhart, IN	3.0	2.0	1486	$1,600	$1.08	22d	1	0.79mi
229 W Jackson Blvd Elkhart, IN	2.0	1.0	625	$725	$1.16	45d	2	0.86mi
1308 Princeton St Elkhart, IN	2.0	1.0	981	$1,350	$1.38	22d	1	0.86mi
323 Sherman St Unit A Elkhart, IN	2.0	1.0	750	$850	$1.13	45d	1	0.97mi
200 Jr. Achievement Dr Elkhart, IN	1.0–2.0	1.0–2.0	946	$1,770	$1.87	22d	10	1.13mi
2629 Decamp Ave Elkhart, IN	1.0–2.0	1.0	775	$950	$1.23	22d	1	1.34mi
2700 Ridgewood Dr Elkhart, IN	3.0	1.0–2.0	720	$1,450	$2.01	45d	1	1.36mi

Listing history 24 events

1. 2026-06-21
   days on market $111,599 Active 110 DOM
2. 2026-06-19
   days on market $111,599 Active 108 DOM
3. 2026-06-18
   days on market $111,599 Active 107 DOM
4. 2026-06-17
   days on market $111,599 Active 106 DOM
5. 2026-06-16
   days on market $111,599 Active 105 DOM
6. 2026-06-15
   days on market $111,599 Active 104 DOM
7. 2026-06-14
   days on market $111,599 Active 102 DOM
8. 2026-06-13
   days on market $111,599 Active 101 DOM
9. 2026-06-10
   days on market $111,599 Active 99 DOM
10. 2026-06-09
    days on market $111,599 Active 98 DOM
11. 2026-06-08
    days on market $111,599 Active 97 DOM
12. 2026-06-07
    days on market $111,599 Active 96 DOM
13. 2026-06-05
    days on market $111,599 Active 93 DOM
14. 2026-06-03
    days on market $111,599 Active 92 DOM
15. 2026-06-02
    days on market $111,599 Active 91 DOM
16. 2026-06-01
    days on market $111,599 Active 90 DOM
17. 2026-05-31
    days on market $111,599 Active 89 DOM
18. 2026-05-30
    days on market $111,599 Active 88 DOM
19. 2026-04-08
    price $114,500 524-char remark

    Show marketing remark (524 chars)

    Charming 3-bedroom, 1-bath home offering 1,190 sq ft of comfortable living space! Now vacant and ready for immediate occupancy, this property is perfect for an owner-occupant looking to make it their own. Features a functional layout with spacious living areas and great natural light throughout. The large backyard provides plenty of room for entertaining, gardening, pets, or future expansion. Conveniently located near schools, shopping, and main roadways for easy daily living. A great opportunity to own instead of rent

20. 2026-03-03
    listed $116,500 Active 524-char remark

    Show marketing remark (524 chars)

    Charming 3-bedroom, 1-bath home offering 1,190 sq ft of comfortable living space! Now vacant and ready for immediate occupancy, this property is perfect for an owner-occupant looking to make it their own. Features a functional layout with spacious living areas and great natural light throughout. The large backyard provides plenty of room for entertaining, gardening, pets, or future expansion. Conveniently located near schools, shopping, and main roadways for easy daily living. A great opportunity to own instead of rent

21. 2025-09-22
    listed $116,500 Active
22. 2022-06-10
    historical
23. 2022-05-02
    listed $99,995
24. 2021-02-27
    listed $99,500

ⓘ 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: $2,108 · $176/mo
• Projected year-2 tax: $2,108 · $176/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 ≥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: $14,775
• − Mortgage interest: −$6,251
• − Property taxes: −$2,108
• − Insurance: −$558
• − Repairs & maintenance: −$1,182
• − Management: −$1,182
• − Depreciation: −$3,247
• Taxable income: $247
• Est. tax owed @ 24.0%: −$59
• After-tax cash flow: $1,924/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

+15.1% since first listed

6 events — show timeline

• 2026-04-08 Price Changed $114,500 IRMLS
• 2026-03-03 Listed $116,500 IRMLS
• 2025-09-22 Listed $116,500 IRMLS
• 2022-06-10 Delisted — IRMLS
• 2022-05-02 Listed $99,995 IRMLS
• 2021-02-27 Listed $99,500 IRMLS

Property tax history

+1.6%/yr

Latest (2025): $2,108 · +25.9% YoY. Source: county tax records.