39031 Edwards Ct · Grissom AFB, IN 46970

$85,000

4 bd · 2.0 ba · 1,386 sqft · SingleFamily public records · 13 Days on market

Built 1970 6,516 sqft lot Est $111k · 23% under $65/mo HOA · 5% of rent

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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 +9.6/10.0
• Livability +3.2/5.0
• Schools +2.8/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

A large four bedroom end unit townhome with two full bathrooms and an half bath. This unit has all bedroom upstairs as well as the full bathrooms upstairs. The kitchen has and eat in area and a large living room space. There is a large walk in pantry. The half bath located on main floor with laundry room area. There is a open patio out back of unit that back up to wooded area. There is covered carport parking space. There is also additional storage unit attached to carport area.

Key facts

• End unit townhome
• Open patio
• Wooded area

Tags

• END UNIT TOWNHOME
• LARGE LIVING ROOM SPACE
• WALK IN PANTRY
• OPEN PATIO
• WOODED AREA
• COVERED CARPORT PARKING

Property features AI

Finance

• HOA & community: Homeowners association with a $65 monthly fee; Community pool

Exterior

• Parking: Two off-street parking spaces
• Utilities: Public water; Public sewer
• Home design: Residential income property; Subdivision: Estates at Eagle Pointe
• Construction: Brick and vinyl siding; Asphalt roof; Above-grade finished area approximately 1,386
• Exterior features: Patio; Porch; Cul-de-sac lot

Interior

• Kitchen: Dishwasher; Range; Refrigerator
• Flooring: Carpet; Laminate; Tile
• Bathrooms: Two full bathrooms; One half bathroom
• Heating & cooling: Central air conditioning; Forced air heating; Natural gas heating
• Interior features: Eat-in kitchen; Pantry
• Laundry & utility: Washer hookup; Washer; Dryer

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $85k.

Deal economics

• At list price, monthly cash flow is $412 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $85k).

Location & tenants

• Location reads 65/100 on livability (#359 in IN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A; Watch: amenities F, commute F, health & safety D-.
• Maconaquah School Corporation (rural): math 25% / reading 40% proficiency, ranked #213 of 301 in IN (top 71%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Maconaquah Middle School (math 14% / reading 36%, grade F, #247 of 330 statewide, top 76%, 435 students, 63% FRL); Maconaquah High School (math 37% / reading 72%, grade C-, #79 of 369 statewide, top 26%, 594 students, 52% FRL).
• Market conditions: 129 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; 35 units permitted in Miami County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $588 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Miami County population projected at -12% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $24k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• Only 13 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 3y ago; this cycle's ask has dropped $9k (10%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Recommended offer $85,000

Questions for the listing agent

1. Built in 1970 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
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: 1.46% ✓
• Cap rate: 12.12%
• Cash-on-cash: 20.79%
• DSCR: 1.93
• GRM: 5.7

CMA / ARV

• ARV (on-the-fly): $110,880
• Comps found: 10

Show comp detail 10 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2102 Cannon Cir	0.47mi	3/2.0 (-1)	1,466 (+6%)	2mo	$149,900	$102	61
2670 Capehart Ave	0.40mi	3/2.0 (-1)	1,446 (+4%)	12mo	$145,000	$100	59
1619 Warhawk Rd	0.70mi	3/2.0 (-1)	1,466 (+6%)	2mo	$142,000	$97	51
1831 Norton Ave	0.51mi	3/2.0 (-1)	1,466 (+6%)	14mo	$146,000	$100	50
1421 Eglin Ave	0.56mi	3/2.0 (-1)	1,429 (+3%)	21mo	$84,005	$59	46
1639 Warhawk St	0.57mi	3/2.0 (-1)	1,429 (+3%)	21mo	$71,600	$50	46
2805 Castle Ct	0.31mi	3/1.0 (-1)	1,540 (+11%)	15mo	$123,500	$80	46
1737 S Lincoln Rd	0.61mi	4/2.0	1,442 (+4%)	23mo	$112,900	$78	46
1733 S Lincoln St	0.64mi	3/2.0 (-1)	1,448 (+4%)	24mo	$71,800	$50	38
1617 Warhawk Rd	0.72mi	3/1.0 (-1)	1,185 (-14%)	24mo	$77,500	$65	14

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: 13.2%
• Equity multiple: 1.53×
• Total profit: $12,499
• Equity at exit: $12,674

10-year hold

• IRR: 22.0%
• Equity multiple: 2.88×
• Total profit: $44,731
• Equity at exit: $7,349

Cash invested: $23,800 (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 46970

• Home prices YoY: -8.8%
• Active inventory: 129
• Price-to-rent: 5.7×

Monthly cashflow live

• Estimated rent: $1,240 high
• Mortgage (P&I): −$446
• Tax from tax record: −$21 /mo · $253/yr
• Insurance: −$35
• HOA: −$65
• Vacancy / Maint / Mgmt: −$260
• Net cashflow: $412

Break-even live

Break-even rent $718

Max offer price $85,000

Occupancy floor 62%

Sensitivity live

Price	-10% $461	-5% $436	+0% $412	+5% $388	+10% $364
Rent	-10% $314	-5% $363	+0% $412	+5% $461	+10% $510
Rate	-1.0pp $455	-0.5pp $434	base $412	+0.5pp $390	+1.0pp $368

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: $21,250
• Closing costs: $2,550
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
39023 Edwards Ct Peru, IN	4.0	2.5	1334	$1,230	$0.92	44d	1	0.03mi
38042 Dow Ct Peru, IN	3.0	1.5	1542	$1,150	$0.75	44d	1	0.09mi
36013 Beale Ct Peru, IN	3.0	1.5	1080	$1,050	$0.97	44d	1	0.20mi
2909 Travis St Peru, IN	3.0	1.5	1148	$1,125	$0.98	44d	1	0.29mi
1029 N Lincoln St Peru, IN	3.0	1.0	941	$1,000	$1.06	44d	1	0.78mi
1703 S Lincoln St Peru, IN	3.0	2.0	1201	$1,100	$0.92	44d	1	0.82mi

HOA detail

• Monthly dues: $65 · $780/yr

Listing history 10 events

1. 2026-06-13
   statusdays on market $85,000 Pending 13 DOM
2. 2026-06-10
   days on market $85,000 Active 11 DOM
3. 2026-06-09
   days on market $85,000 Active 10 DOM
4. 2026-06-08
   days on market $85,000 Active 9 DOM
5. 2026-06-07
   days on market $85,000 Active 8 DOM
6. 2026-06-05
   days on market $85,000 Active 5 DOM
7. 2026-06-02
   days on market $85,000 Active 3 DOM
8. 2026-06-01
   pricedays on market $85,000 Active 2 DOM
9. 2026-05-31
   remarks 483-char remark
10. 2026-05-31
    listed $94,000 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: $253 · $21/mo
• Projected year-2 tax: $488 · $41/mo
• Expected delta: +$235/yr (+$20/mo · 92.7%)

ⓘ 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 · 17 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: $14,881
• − Mortgage interest: −$4,761
• − Property taxes: −$253
• − Insurance: −$425
• − Repairs & maintenance: −$1,190
• − Management: −$1,190
• − HOA: −$780
• − Depreciation: −$2,473
• Taxable income: $3,808
• Est. tax owed @ 24.0%: −$914
• After-tax cash flow: $4,035/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: Maconaquah School Corporation
• NCES district ID: 1806090
• Math proficiency: 25% ▼ -12.00%
• Reading proficiency: 40% ▼ -6.00%
• Median HH income: $47,296
• Composite: 27.96/100
• National rank: #6859
• State rank: #213 of 301 in IN

Livability — Grissom AFB

• Score: 65/100
• State rank: #359
• US rank: #13555

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Grissom AFB, IN
• County: Miami County · 23,020 people
• Metro: Peru, IN
• Population (ZIP): 23,020
• Household income: $57,842
• Rent vs Own: 28.5% rent · 71.5% own
• Severe rent burden: 498.0

Population outlook (Miami County) Hauer SSP2

• Today (2025): 34,421 people
• By 2030: 33,571 · -2.5%
• By 2040: 31,919 · -7.3%
• By 2050: 30,313 · -11.9%
• By 2075: 26,202 · -23.9%
• By 2100: 20,856 · -39.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (87%)
• Race & ethnicity: White 87% Two or more races 6% Hispanic / Latino 4% Black 3%
• Common ancestry: Iranian 2% Romanian 2% Slovak 2%
• Foreign-born: 1% · Canada
• Languages at home: 97% English-only · Spanish 2% German/W. Germanic 0%

Political lean MEDSL · Miami

• 2024 margin: Solid R (+54.5) · D 21.8% · R 76.3% · Other 1.9%
• 2008→2024 swing: -35.1pp toward R · 2008: -19.5pp · 2024: -54.5pp
• All cycles: 2024: R+54.5 2020: R+53.1 2016: R+53.6 2012: R+30.9 2008: R+19.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -24.29%
• Current HPI: 252.7166
• Rent YoY: —
• Metro: Peru, 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

+9300.0% since first listed

5 events — show timeline

• 2026-05-30 Listed $94,000 IRMLS
• 2025-10-01 Rental Removed $1,250 IRMLS
• 2025-09-19 Listed for Rent $1,250 IRMLS
• 2023-11-03 Rental Removed $1,000 IRMLS
• 2023-10-08 Listed for Rent $1,000 IRMLS

Property tax history

-2.2%/yr

Latest (2024): $253 · +43.1% YoY. Source: county tax records.