235 W Boulevard · Peru, IN 46970

$79,900

2 bd · 1.0 ba · 934 sqft · SingleFamily public records · 3 Days on market

Built 1925 7,841 sqft lot Est $125k · 36% under

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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 +29.8/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +7.5/10.0
• Livability +3.9/5.0
• Schools +3.0/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

On the Blvd, this 2 bedroom home has a great floorplan, beautiful oversized back yard with mature trees, covered front porch. Great investment property. This home is an estate and is being sold "AS IS"!! The ramp does not stay!!

Key facts

• Covered front porch
• Oversized back yard
• 7,841 sq ft lot

Tags

• OVERSIZED BACK YARD
• COVERED FRONT PORCH

Property features AI

Exterior

• Utilities: Public water; Public sewer
• Home design: Single-story site-built single family home; Residential property
• Construction: Aluminum siding and brick exterior
• Exterior features: Covered porch

Interior

• Bedrooms: Bedrooms on main level
• Bathrooms: One full bathroom on the main level
• Heating & cooling: Forced air heating; Window unit cooling
• Interior features: Full unfinished basement; 5 total rooms
• Laundry & utility: Laundry on the main level

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $80k.

Deal economics

• At list price, monthly cash flow is $239 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $80k).
• Cap rate 10.7% vs local median 6.2% in Peru — 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 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+, commute F, employment F.
• Peru Community Schools (town): math 31% / reading 42% proficiency, ranked #192 of 301 in IN (top 64%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Blair Pointe Upper Elementary (math 34% / reading 38%, grade F, #577 of 994 statewide, top 59%, 552 students, 63% FRL); Peru Jr/Sr High School (math 27% / reading 57%, grade F, #197 of 369 statewide, top 57%, 883 students, 59% FRL).
• Market conditions: 129 active listings in the ZIP; 3 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 $552 of loan paydown is wiped out by about $2k 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 $22k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• Only 3 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: flood insurance adds $56/mo; built in 1925 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $79,900

Questions for the listing agent

1. Built in 1925 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
6. 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.
7. 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.
8. 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: 1.25% ✓
• Cap rate: 10.71%
• Cash-on-cash: 15.78%
• DSCR: 1.70
• GRM: 6.7

CMA / ARV

• ARV (on-the-fly): $125,156
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
463 Oak St	0.43mi	3/1.0 (+1)	936 (+0%)	0mo	$144,900	$155	74
152 W Boulevard	0.17mi	2/2.0	1,008 (+8%)	3mo	$170,000	$169	73
407 W 7th St	0.44mi	2/1.0	972 (+4%)	4mo	$95,000	$98	70
357 W 5th St	0.47mi	3/1.0 (+1)	990 (+6%)	0mo	$83,670	$85	63
21 Delores Ave	0.47mi	3/1.0 (+1)	864 (-8%)	3mo	$65,000	$75	58
426 W 7th St	0.45mi	2/2.0	980 (+5%)	11mo	$147,000	$150	58
64 E Washington Ave	0.69mi	2/1.0	1,000 (+7%)	3mo	$48,000	$48	53
103 Logan St	0.29mi	3/1.0 (+1)	816 (-13%)	10mo	$142,900	$175	52
39 George St	0.40mi	2/1.0	800 (-14%)	7mo	$145,000	$181	52
552 W 7th St	0.55mi	2/1.0	864 (-8%)	12mo	$103,000	$119	52
395 N Duke St	0.40mi	2/1.0	820 (-12%)	15mo	$110,000	$134	48
458 W 6th St	0.47mi	3/1.0 (+1)	1,016 (+9%)	18mo	$22,500	$22	43

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: 2.6%
• Equity multiple: 1.10×
• Total profit: $2,266
• Equity at exit: $11,913

10-year hold

• IRR: 12.2%
• Equity multiple: 1.97×
• Total profit: $21,603
• Equity at exit: $6,908

Cash invested: $22,372 (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: 6.7×

Monthly cashflow live

• Estimated rent: $1,000 medium
• Mortgage (P&I): −$419
• Tax from tax record: −$44 /mo · $525/yr
• Insurance: −$33
• Flood insurance flood zone: −$56 /mo · $666/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$210
• Net cashflow: $239

Break-even live

Break-even rent $698

Max offer price $79,900

Occupancy floor 71%

Sensitivity live

Price	-10% $284	-5% $261	+0% $239	+5% $216	+10% $193
Rent	-10% $160	-5% $199	+0% $239	+5% $278	+10% $318
Rate	-1.0pp $279	-0.5pp $259	base $239	+0.5pp $218	+1.0pp $197

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: $19,975
• Closing costs: $2,397
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
283 W Main St Unit 1 Peru, IN	3.0	1.0	850	$929	$1.09	45d	1	0.47mi
548 Sycamore Trl Peru, IN	1.0–2.0	1.0–2.0	899	$1,345	$1.50	45d	2	0.86mi
130 S Clay St Unit 6 Peru, IN	2.0	1.0	725	$799	$1.10	45d	1	0.96mi

Listing history 4 events

1. 2026-06-19
   days on market $79,900 Active 3 DOM
2. 2026-06-18
   days on market $79,900 Active 2 DOM
3. 2026-06-17
   remarks 229-char remark
4. 2026-06-17
   listed $79,900 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: $525 · $44/mo
• Projected year-2 tax: $602 · $50/mo
• Expected delta: +$77/yr (+$6/mo · 14.7%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 8/10 Severe FEMA zone X (unshaded) · 96% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 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: $12,003
• − Mortgage interest: −$4,476
• − Property taxes: −$525
• − Insurance: −$1,066
• − Repairs & maintenance: −$960
• − Management: −$960
• − Depreciation: −$2,324
• Taxable income: $1,692
• Est. tax owed @ 24.0%: −$406
• After-tax cash flow: $2,457/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: Peru Community Schools
• NCES district ID: 1808850
• Math proficiency: 31% ▼ -9.00%
• Reading proficiency: 42% ▼ -2.00%
• Median HH income: $35,624
• Composite: 30.18/100
• National rank: #6316
• State rank: #192 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

• Census place: Peru, IN
• 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

+0.0% since first listed

2 events — show timeline

• 2026-06-16 Listed $79,900 IRMLS
• 2025-06-15 Listed $79,900 IRMLS

Property tax history

-7.5%/yr

Latest (2024): $525 · +14.5% YoY. Source: county tax records.