1998 S Wallick Rd · Peru, IN 46970

$110,000

2 bd · 1.0 ba · 1,216 sqft · SingleFamily public records · 24 Days on market

Built 1958 Est $171k · 36% 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 +17.4/30.0
• ARV discount +15.0/15.0
• DSCR +5.4/10.0
• Livability +3.9/5.0
• 1% rule +3.4/10.0
• Schools +2.8/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Old home that can use some TLC with beautiful yard and location, Mac schools ,

Key facts

• Built 1958
• Listed 23 days

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $110k.

Deal economics

• At list price, monthly cash flow is $83 ($998/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $92k (16.5% below list).
• Recommended offer: $92k (16.5% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 77/100 on livability (#35 in IN, #2,834 nationally) — a middle-class / working-renter tenant base. Strengths: amenities A+, cost of living A+, housing A+; Watch: crime D+, schools D, commute F.
• 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.
• Market conditions: 129 active listings in the ZIP; 4 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 $761 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.

Negotiation context

• It's been on market 24 days — a 2% lower offer ($108k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1958 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $91,881 (16.5% below list)

Questions for the listing agent

1. Built in 1958 — 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 D-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 D 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: 0.84% ✗
• Cap rate: 7.20%
• Cash-on-cash: 3.24%
• DSCR: 1.14
• GRM: 10.0

CMA / ARV

• ARV (on-the-fly): $171,456
• Comps found: 3

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2110 S Wallick Rd	0.15mi	3/1.5 (+1)	1,138 (-6%)	16mo	$160,000	$141	62
1416 W James Dr	0.24mi	3/1.0 (+1)	1,308 (+8%)	19mo	$147,000	$112	55
711 W Egypt Hill Dr	0.57mi	3/2.0 (+1)	1,075 (-12%)	16mo	$177,175	$165	32

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: -11.3%
• Equity multiple: 0.59×
• Total profit: $-12,589
• Equity at exit: $16,401

10-year hold

• IRR: -2.1%
• Equity multiple: 0.86×
• Total profit: $-4,381
• Equity at exit: $9,511

Cash invested: $30,800 (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: 10.0×

Monthly cashflow live

• Estimated rent: $919 medium
• Mortgage (P&I): −$577
• Tax from tax record: −$20 /mo · $241/yr
• Insurance: −$46
• HOA: −$0
• Vacancy / Maint / Mgmt: −$193
• Net cashflow: $83

Break-even live

Break-even rent $814

Max offer price $110,000

Occupancy floor 86%

Sensitivity live

Price	-10% $145	-5% $114	+0% $83	+5% $52	+10% $-110
Rent	-10% $11	-5% $47	+0% $83	+5% $119	+10% $156
Rate	-1.0pp $139	-0.5pp $111	base $83	+0.5pp $55	+1.0pp $26

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: $27,500
• Closing costs: $3,300
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1850 Business 31 Unit 18562-B Peru, IN	2.0	1.0	976	$850	$0.87	45d	1	0.21mi
1850 S Business 31 Peru, IN	2.0	1.0	976	$850	$0.87	45d	1	0.31mi
548 Sycamore Trl Peru, IN	1.0–2.0	1.0–2.0	899	$1,345	$1.50	45d	2	0.91mi
283 W Main St Unit 1 Peru, IN	3.0	1.0	850	$929	$1.09	45d	1	1.42mi

Listing history 17 events

1. 2026-06-19
   days on market $110,000 Active 24 DOM
2. 2026-06-18
   days on market $110,000 Active 23 DOM
3. 2026-06-17
   days on market $110,000 Active 22 DOM
4. 2026-06-16
   days on market $110,000 Active 21 DOM
5. 2026-06-15
   days on market $110,000 Active 20 DOM
6. 2026-06-14
   days on market $110,000 Active 18 DOM
7. 2026-06-13
   days on market $110,000 Active 17 DOM
8. 2026-06-10
   days on market $110,000 Active 15 DOM
9. 2026-06-09
   days on market $110,000 Active 14 DOM
10. 2026-06-08
    days on market $110,000 Active 13 DOM
11. 2026-06-07
    days on market $110,000 Active 12 DOM
12. 2026-06-05
    days on market $110,000 Active 9 DOM
13. 2026-06-02
    days on market $110,000 Active 7 DOM
14. 2026-06-01
    days on market $110,000 Active 6 DOM
15. 2026-05-31
    days on market $110,000 Active 5 DOM
16. 2026-05-30
    days on market $110,000 Active 4 DOM
17. 2026-05-26
    listed $110,000 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: $241 · $20/mo
• Projected year-2 tax: $588 · $49/mo
• Expected delta: +$347/yr (+$29/mo · 144.3%)

ⓘ 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 ≥102°F today · 16 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $11,026
• − Mortgage interest: −$6,162
• − Property taxes: −$241
• − Insurance: −$550
• − Repairs & maintenance: −$882
• − Management: −$882
• − Depreciation: −$3,200
• Taxable loss: −$891
• Est. tax savings @ 24.0%: +$214
• After-tax cash flow: $1,211/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 — Peru

• Score: 77/100
• State rank: #35
• US rank: #2834

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Miami County · 23,020 people
• City population: 23,020
• 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

1 event — show timeline

• 2026-05-26 Listed $110,000 FSBO.com

Property tax history

+1.0%/yr

Latest (2024): $241 · +15.5% YoY. Source: county tax records.