301 E E Sycamore St · Silver Lake, IN 46982

$98,900

3 bd · 1.0 ba · 1,742 sqft · SingleFamily public records · 12 Days on market

Built 1880 0.40 ac lot Est $181k · 45% under ↓ 24% since listing

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Why this score? — see what drove the A- 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 +29.9/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +7.6/10.0
• Appreciation +6.4/10.0
• Schools +4.1/10.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

Step into a home with classic character and flexible living spaces, where upstairs walkthrough rooms and a creative bedroom conversion offer unique options for families or investors. The spacious 1,742 sqft layout sits on a generous 0.4-acre lot, featuring an attached 2-car garage, city utilities, and a newer roof for peace of mind. With original windows ready for your custom upgrades and a solid mechanical foundation including boiler heat and an updated electrical panel, this property is perfect for those looking to add value or personalize their next investment. Move-in ready with room to make it your own. Property is being sold As-Is

Key facts

• Generous lot
• Newer roof
• Original windows

Tags

• FLEXIBLE LIVING SPACES
• UPSTAIRS WALKTHROUGH ROOMS
• CREATIVE BEDROOM CONVERSION
• GENEROUS LOT
• NEWER ROOF
• ORIGINAL WINDOWS

Property features AI

Exterior

• Parking: Attached 2-car garage
• Utilities: Public water; Public sewer
• Home design: Single-family, site-built home; 2 stories
• Construction: Vinyl siding; Asphalt construction material
• Exterior features: Level lot; Lot dimensions about 66 x 132

Interior

• Bathrooms: 1 full bathroom (main level)
• Heating & cooling: No cooling
• Interior features: Crawl space basement (unfinished)
• Laundry & utility: Laundry on main level

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $99k.

Deal economics

• At list price, monthly cash flow is $365 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $99k).

Location & tenants

• Location reads 68/100 on livability (#208 in IN) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: employment C-, schools F, amenities F.
• Warsaw Community Schools (town): math 45% / reading 49% proficiency, ranked #78 of 301 in IN (top 26%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 10 active listings in the ZIP; 261 units permitted in Kosciusko County in 2024 (10 in 5+ unit buildings).

Forward outlook

• In year one you build about $3k of equity ($684 loan paydown + $3k appreciation (2.8% local appreciation)).
• Kosciusko County population projected at +3% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (2.8% appreciation + 3.0% rent growth), your $28k cash investment doubles in ~4 years — after that, you're playing with house money.
• By year 10, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 12 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts 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 1880 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $98,900

Questions for the listing agent

1. Built in 1880 — 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. 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.
5. 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.
6. 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: 1.26% ✓
• Cap rate: 10.73%
• Cash-on-cash: 15.84%
• DSCR: 1.70
• GRM: 6.6

CMA / ARV

• ARV (on-the-fly): $181,168
• Comps found: 7

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
501 E Sycamore St	0.12mi	4/1.0 (+1)	1,791 (+3%)	4mo	$117,500	$66	81
106 E Sycamore St	0.11mi	3/1.0	1,605 (-8%)	8mo	$172,500	$107	75
202 E Main St	0.07mi	4/2.0 (+1)	1,832 (+5%)	5mo	$164,000	$90	75
501 E Main St	0.14mi	3/2.5	1,928 (+11%)	9mo	$199,900	$104	62
405 W Main St	0.35mi	3/1.0	1,556 (-11%)	20mo	$167,900	$108	48
603 S Jefferson St	0.43mi	4/2.0 (+1)	1,680 (-4%)	22mo	$148,000	$88	47
706 W Neher Rd	0.74mi	3/2.0	1,536 (-12%)	1mo	$304,900	$199	41

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

2.84% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 22.0%
• Equity multiple: 2.24×
• Total profit: $34,314
• Equity at exit: $43,557

10-year hold

• IRR: 23.1%
• Equity multiple: 4.27×
• Total profit: $90,596
• Equity at exit: $66,426

Cash invested: $27,692 (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 46982

• Home prices YoY: 1.0%
• Active inventory: 10
• Price-to-rent: 6.6×

Monthly cashflow live

• Estimated rent: $1,250 medium
• Mortgage (P&I): −$519
• Tax from tax record: −$63 /mo · $750/yr
• Insurance: −$41
• HOA: −$0
• Vacancy / Maint / Mgmt: −$263
• Net cashflow: $365

Break-even live

Break-even rent $788

Max offer price $98,900

Occupancy floor 66%

Sensitivity live

Price	-10% $421	-5% $393	+0% $365	+5% $337	+10% $309
Rent	-10% $267	-5% $316	+0% $365	+5% $415	+10% $464
Rate	-1.0pp $415	-0.5pp $391	base $365	+0.5pp $340	+1.0pp $314

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: $24,725
• Closing costs: $2,967
• Reserves months: —
• Total cash needed: —

Listing history 8 events

1. 2026-06-02
   pricedays on market $98,900 Active 12 DOM
2. 2026-06-01
   days on market $99,900 Active 11 DOM
3. 2026-05-31
   days on market $99,900 Active 10 DOM
4. 2026-05-30
   days on market $99,900 Active 9 DOM
5. 2026-05-21
   listed $99,900 Active
6. 2025-10-26
   price $109,900
7. 2025-10-25
   price $100,000
8. 2025-10-08
   listed $129,900 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: $750 · $63/mo
• Projected year-2 tax: $795 · $66/mo
• Expected delta: +$45/yr (+$4/mo · 6.0%)

ⓘ 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 ≥100°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: $15,005
• − Mortgage interest: −$5,540
• − Property taxes: −$750
• − Insurance: −$494
• − Repairs & maintenance: −$1,200
• − Management: −$1,200
• − Depreciation: −$2,877
• Taxable income: $2,943
• Est. tax owed @ 24.0%: −$706
• After-tax cash flow: $3,679/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: Warsaw Community Schools
• NCES district ID: 1812420
• Math proficiency: 45% ▼ -4.00%
• Reading proficiency: 49% ▬ 0.00%
• Median HH income: $52,461
• Composite: 40.53/100
• National rank: #3705
• State rank: #78 of 301 in IN

Livability — Silver Lake

• Score: 68/100
• State rank: #208
• US rank: #9160

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: Silver Lake, IN
• Population (ZIP): 2,653

Population outlook (Kosciusko County) Hauer SSP2

• Today (2025): 81,747 people
• By 2030: 82,878 · +1.4%
• By 2040: 84,270 · +3.1%
• By 2050: 84,191 · +3.0%
• By 2075: 82,918 · +1.4%
• By 2100: 74,808 · -8.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (99%)
• Race & ethnicity: White 99% Two or more races 1%
• Common ancestry: Italian 2% Slovak 2% Lithuanian 1%
• Foreign-born: 2% · Canada
• Languages at home: 99% English-only · Other Indo-European 1%

Political lean MEDSL · Kosciusko

• 2024 margin: Solid R (+52.3) · D 22.9% · R 75.2% · Other 1.9%
• 2008→2024 swing: -14.9pp toward R · 2008: -37.3pp · 2024: -52.3pp
• All cycles: 2024: R+52.3 2020: R+50.7 2016: R+55.1 2012: R+52.2 2008: R+37.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 2.84%
• Current HPI: 278.4323
• 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

-23.9% since first listed

5 events — show timeline

• 2026-06-02 Price Changed $98,900 IRMLS
• 2026-05-21 Listed $99,900 IRMLS
• 2025-10-26 Price Changed $109,900 IRMLS
• 2025-10-25 Price Changed $100,000 IRMLS
• 2025-10-08 Listed $129,900 IRMLS

Property tax history

+8.1%/yr

Latest (2024): $750 · +3.0% YoY. Source: county tax records.