12 Beach Lane Ct

Ogden Dunes, IN 46368

$100,000B-

2 bd · 1.0 ba · 1,120 sqft · Built 1934 · SingleFamily · Pending · 33 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,461/mo
• Mortgage (P&I): −$524
• Tax + insurance: −$339
• HOA: −$0
• Vac / Maint / Mgmt: −$307
• Net cashflow: $291/mo
• Annual: $3,487/yr
• Cap rate: 9.78%
• Cash-on-cash: 12.45%
• DSCR: 1.55
• 1% rule: 1.46%
• Cash to close: $28,000

Investor read

• This is a 2-bed/1.0-bath single-family listed at $100k.
• At list price, monthly cash flow is $291 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $100k).
• It's been on market 33 days — a 3% lower offer ($97k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $97k (3.0% below list) — sets the bar for market timing.
• 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.
• Location reads 73/100 on livability (#102 in IN) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, housing A+; Watch: cost of living C-, amenities F, commute F.
• Portage Township Schools (suburban): math 26% / reading 36% proficiency, ranked #221 of 301 in IN (top 73%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Watch-outs: property tax is 3.6% of price; built in 1934 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: Rents rising fast (+4.3%/yr); 311 active listings in the ZIP; solid renter incomes; 542 units permitted in Porter County in 2024 (0 in 5+ unit buildings).
• Porter County population projected at +6% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (-3.0% appreciation + 4.3% rent growth), your $28k cash investment doubles in ~8 years — after that, you're playing with house money.

Questions for listing agent

• It's been on market 33 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
• Built in 1934 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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.
• 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.
• 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.