1840 N Us Highway 35 · Knox, IN 46534

$129,900

2 bd · 1.0 ba · 976 sqft · SingleFamily public records · 8 Days on market

Built 1948 1.18 ac lot

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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
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• 1% rule +7.4/10.0
• Livability +2.9/5.0
• Schools +2.6/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

2-3 bedroom 1 bath 1 story home North of town on 2.36 acres, 20x28 garage with 1 car overhead door and large workshop area. Property has 2 road frontages and the rear 1 acre is all wooded. Has great yard area for garden, pool, play!

Key facts

• Oversize driveway
• Main floor laundry
• Eat-in kitchen

Tags

• EAT-IN KITCHEN
• SPACIOUS LIVING ROOM
• MAIN FLOOR LAUNDRY
• OVERSIZE DETACHED GARAGE
• PARTIALLY FINISHED WORKSHOP
• OVERSIZE DRIVEWAY

Property features AI

Exterior

• Parking: Off-street parking; Driveway; Gravel parking areas; Additional parking available; Detached garage with 1 garage space
• Utilities: Electricity connected (100 amp service); Natural gas connected; Well water; Septic tank sewer
• Home design: One-level (single story); Built in 1948
• Construction: Vinyl siding construction; Asphalt shingle roof; Built in 1948
• Exterior features: Rural view; Vinyl siding; Asphalt shingle roof

Interior

• Kitchen: No major appliances included (none listed)
• Bedrooms: Primary bedroom; Second bedroom
• Flooring: Carpet; Vinyl
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating (natural gas); Ceiling fan(s)
• Interior features: Eat-in kitchen; Country-style kitchen; Laminate countertops
• Laundry & utility: Main level laundry room; Utility room

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $130k.

Deal economics

• At list price, monthly cash flow is $439 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $130k).
• Cap rate 11.0% vs local median 3.8% in Knox — 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 58/100 on livability (#583 in IN) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+; Watch: crime C-, schools D-, amenities F.
• Knox Community School Corporation (town): math 27% / reading 34% proficiency, ranked #242 of 301 in IN (top 80%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 146 active listings in the ZIP; 58 units permitted in Starke County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $898 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Starke County population projected at -23% 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 $36k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• Only 8 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 7y ago; this cycle's ask has dropped $10k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $77k; list at $130k implies a 69% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo; built in 1948 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $129,900

Questions for the listing agent

1. Built in 1948 — 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. 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: 1.24% ✓
• Cap rate: 10.96%
• Cash-on-cash: 16.68%
• DSCR: 1.74
• GRM: 6.7

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 4.9%
• Equity multiple: 1.19×
• Total profit: $6,907
• Equity at exit: $19,369

10-year hold

• IRR: 14.3%
• Equity multiple: 2.15×
• Total profit: $41,969
• Equity at exit: $11,231

Cash invested: $36,372 (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 46534

• Home prices YoY: -19.2%
• Active inventory: 146
• Price-to-rent: 6.7×

Monthly cashflow live

• Estimated rent: $1,610 medium
• Mortgage (P&I): −$681
• Tax from tax record: −$31 /mo · $372/yr
• Insurance: −$54
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$338
• Net cashflow: $439

Break-even live

Break-even rent $1,054

Max offer price $129,900

Occupancy floor 68%

Sensitivity live

Price	-10% $513	-5% $476	+0% $439	+5% $402	+10% $366
Rent	-10% $312	-5% $376	+0% $439	+5% $503	+10% $566
Rate	-1.0pp $505	-0.5pp $472	base $439	+0.5pp $406	+1.0pp $371

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: $32,475
• Closing costs: $3,897
• Reserves months: —
• Total cash needed: —

Listing history 9 events

1. 2026-06-19
   days on market $129,900 Active 8 DOM
2. 2026-06-18
   days on market $129,900 Active 7 DOM
3. 2026-06-17
   days on market $129,900 Active 6 DOM
4. 2026-06-16
   days on market $129,900 Active 5 DOM
5. 2026-06-16
   price $129,900 Active 4 DOM
6. 2026-06-15
   days on market $139,900 Active 4 DOM
7. 2026-06-14
   days on market $139,900 Active 2 DOM
8. 2026-06-12
   remarks 393-char remark
9. 2026-06-12
   listed $139,900 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: $372 · $31/mo
• Projected year-2 tax: $738 · $62/mo
• Expected delta: +$366/yr (+$31/mo · 98.4%)

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

Climate risk First Street

• 🌊 Flood 7/10 Severe FEMA zone X (unshaded) · 99% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥101°F today · 16 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $19,321
• − Mortgage interest: −$7,276
• − Property taxes: −$372
• − Insurance: −$1,447
• − Repairs & maintenance: −$1,546
• − Management: −$1,546
• − Depreciation: −$3,779
• Taxable income: $3,355
• Est. tax owed @ 24.0%: −$805
• After-tax cash flow: $4,465/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: Knox Community School Corporation
• NCES district ID: 1805340
• Math proficiency: 27% ▼ -9.00%
• Reading proficiency: 34% ▼ -8.00%
• Median HH income: $39,955
• Composite: 25.64/100
• National rank: #7401
• State rank: #242 of 301 in IN

Livability — Knox

• Score: 58/100
• State rank: #583
• US rank: #20938

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• City population: 11,029
• Population (ZIP): 11,029

Population outlook (Starke County) Hauer SSP2

• Today (2025): 21,860 people
• By 2030: 21,024 · -3.8%
• By 2040: 19,041 · -12.9%
• By 2050: 16,881 · -22.8%
• By 2075: 11,880 · -45.7%
• By 2100: 7,217 · -67.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (92%)
• Race & ethnicity: White 92% Hispanic / Latino 4% Two or more races 3%
• Common ancestry: Romanian 5% Lithuanian 2% Slovak 2%
• Foreign-born: 2% · Canada
• Languages at home: 96% English-only · Spanish 2% Other Indo-European 2% German/W. Germanic 1%

Political lean MEDSL · Starke

• 2024 margin: Solid R (+52.0) · D 23.2% · R 75.3% · Other 1.5%
• 2008→2024 swing: -55.3pp toward R · 2008: 3.2pp · 2024: -52.0pp
• All cycles: 2024: R+52.0 2020: R+46.8 2016: R+42.0 2012: R+10.6 2008: D+3.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -58.15%
• Current HPI: 244.2216
• 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

+75.1% since first listed

3 events — show timeline

• 2026-06-11 Listed $139,900 NIRA MLS as Distributed by MLS Grid
• 2019-08-02 Sold (MLS) $77,000 NIRA MLS as Distributed by MLS Grid
• 2019-05-21 Listed $79,900 NIRA MLS as Distributed by MLS Grid

Property tax history

+17.9%/yr

Latest (2024): $372 · +14.5% YoY. Source: county tax records.