219 W Dewey St · Bremen, IN 46506

$279,000

4 bd · 3.0 ba · 2,238 sqft · MultiFamily public records · 66 Days on market

Built 1910 0.31 ac lot $125/sqft · 38% above area Est $241k · 16% over ↓ 5% since listing

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Why this score? — see what drove the D 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 +18.9/30.0
• DSCR +6.0/10.0
• 1% rule +5.4/10.0
• Schools +4.1/10.0
• Livability +3.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• ARV discount +0.5/15.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks MLS

Welcome to a spacious and beautifully updated HISTORIC home that blends charm, functionality, and modern upgrades! This versatile 3–4 bedroom, 3 full bathroom property offers over 2,200+ finished square feet of living space , giving you room to live, work, and entertain comfortably. Step inside to discover renovated interior featuring newer flooring, a renovated kitchen, and refreshed bathrooms that bring a clean, modern feel throughout. The main-level master bedroom adds convenience, while the cozy wood-burning fireplace creates the perfect gathering space for Indiana evenings. Enjoy year-round relaxation in the sunroom/greenhouse, or step outside to the patio deck—ideal for entertaining or unwinding after a long day. The home is equipped with thoughtful upgrades including a reverse osmosis filtration system, water softener, and a new on-demand electric water heater, giving you efficiency and peace of mind. The AC unit is just 2 years old, and the metal roof adds long-term durability. Need space for hobbies or storage? This property delivers with a massive 40x30 garage/workshop plus an additional 16x12 metal outbuilding. Situated on a generous lot in a quiet Bremen neighborhood, this home offers space, upgrades, and flexibility that’s hard to find. Don’t miss your chance to own this move-in-ready home.

Key facts

• Patio deck
• Water softener
• Renovated kitchen

Tags

• HISTORIC HOME
• RENOVATED KITCHEN
• COZY WOOD-BURNING FIREPLACE
• SUNROOM GREENHOUSE
• PATIO DECK
• WATER SOFTENER

What this means for you Summary

Snapshot

• This is a 4-bed/3.0-bath multifamily listed at $279k.

Deal economics

• At list price, monthly cash flow is $286 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $279k).
• Recommended offer: $262k (6.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 76/100 on livability (#56 in IN, #3,697 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: employment D+, amenities F, commute F.
• Bremen Public Schools (town): math 47% / reading 49% proficiency, ranked #74 of 301 in IN (top 25%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Bremen Elementary/Middle School (math 47% / reading 44%, grade D-, #368 of 994 statewide, top 37%, 1,000 students, 53% FRL); Bremen Senior High School (math 47% / reading 72%, grade C+, #49 of 369 statewide, top 16%, 472 students, 45% FRL) — zoned schools average 49% FRL vs 34% district-wide (15 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 36 active listings in the ZIP; 147 units permitted in Marshall County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $8k of value loss. Plan a longer hold.
• Marshall County population projected to shrink 9% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.

Negotiation context

• It's been on market 66 days — a 6% lower offer ($262k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1910 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $262,260 (6.0% below list)

Questions for the listing agent

1. It's been on market 66 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1910 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.04% ✓
• Cap rate: 7.52%
• Cash-on-cash: 4.39%
• DSCR: 1.20
• GRM: 8.0

CMA / ARV

• ARV (median comp): $241,238
• List price: $279,000
• Delta: 15.65%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -9.4%
• Equity multiple: 0.66×
• Total profit: $-26,902
• Equity at exit: $41,600

10-year hold

• IRR: 0.1%
• Equity multiple: 1.01×
• Total profit: $394
• Equity at exit: $24,123

Cash invested: $78,120 (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 46506

• Home prices YoY: -29.1%
• Active inventory: 36
• Price-to-rent: 22.9×

Monthly cashflow live

• Estimated rent: $2,895 medium
• Mortgage (P&I): −$1,463
• Tax from tax record: −$422 /mo · $5,060/yr
• Insurance: −$116
• HOA: −$0
• Vacancy / Maint / Mgmt: −$608
• Net cashflow: $286

Break-even live

Break-even rent $2,533

Max offer price $279,000

Occupancy floor 85%

Sensitivity live

Price	-10% $444	-5% $365	+0% $286	+5% $207	+10% $128
Rent	-10% $57	-5% $172	+0% $286	+5% $400	+10% $515
Rate	-1.0pp $427	-0.5pp $357	base $286	+0.5pp $214	+1.0pp $140

3-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
1× unit	3	2	$1,014
▸ 2× units	1	1	$1,882
Total (3 units)			$2,895

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: $69,750
• Closing costs: $8,370
• Reserves months: —
• Total cash needed: —

Listing history 20 events

1. 2026-06-21
   days on market $279,000 Active 66 DOM
2. 2026-06-19
   days on market $279,000 Active 64 DOM
3. 2026-06-18
   days on market $279,000 Active 63 DOM
4. 2026-06-17
   days on market $279,000 Active 62 DOM
5. 2026-06-17
   price $279,000 Active 61 DOM
6. 2026-06-16
   days on market $295,000 Active 61 DOM
7. 2026-06-15
   days on market $295,000 Active 60 DOM
8. 2026-06-14
   days on market $295,000 Active 58 DOM
9. 2026-06-12
   days on market $295,000 Active 57 DOM
10. 2026-06-09
    days on market $295,000 Active 54 DOM
11. 2026-06-08
    days on market $295,000 Active 53 DOM
12. 2026-06-07
    days on market $295,000 Active 52 DOM
13. 2026-06-07
    days on market $295,000 Active 51 DOM
14. 2026-06-03
    days on market $295,000 Active 48 DOM
15. 2026-06-02
    days on market $295,000 Active 47 DOM
16. 2026-06-01
    days on market $295,000 Active 46 DOM
17. 2026-05-31
    days on market $295,000 Active 45 DOM
18. 2026-05-30
    days on market $295,000 Active 44 DOM
19. 2026-04-28
    price $295,000 1348-char remark

    Show marketing remark (1348 chars)

    Welcome to a spacious and beautifully updated HISTORIC home that blends charm, functionality, and modern upgrades! This versatile 3–4 bedroom, 3 full bathroom property offers over 2,200+ finished square feet of living space , giving you room to live, work, and entertain comfortably. Step inside to discover renovated interior featuring newer flooring, a renovated kitchen, and refreshed bathrooms that bring a clean, modern feel throughout. The main-level master bedroom adds convenience, while the cozy wood-burning fireplace creates the perfect gathering space for Indiana evenings. Enjoy year-round relaxation in the sunroom/greenhouse, or step outside to the patio deck—ideal for entertaining or unwinding after a long day. The home is equipped with thoughtful upgrades including a reverse osmosis filtration system, water softener, and a new on-demand electric water heater, giving you efficiency and peace of mind. The AC unit is just 2 years old, and the metal roof adds long-term durability. Need space for hobbies or storage? This property delivers with a massive 40x30 garage/workshop plus an additional 16x12 metal outbuilding. Situated on a generous lot in a quiet Bremen neighborhood, this home offers space, upgrades, and flexibility that’s hard to find. Don’t miss your chance to own this move-in-ready home.

20. 2026-04-16
    listed $310,000 Active 1348-char remark

    Show marketing remark (1348 chars)

    Welcome to a spacious and beautifully updated HISTORIC home that blends charm, functionality, and modern upgrades! This versatile 3–4 bedroom, 3 full bathroom property offers over 2,200+ finished square feet of living space , giving you room to live, work, and entertain comfortably. Step inside to discover renovated interior featuring newer flooring, a renovated kitchen, and refreshed bathrooms that bring a clean, modern feel throughout. The main-level master bedroom adds convenience, while the cozy wood-burning fireplace creates the perfect gathering space for Indiana evenings. Enjoy year-round relaxation in the sunroom/greenhouse, or step outside to the patio deck—ideal for entertaining or unwinding after a long day. The home is equipped with thoughtful upgrades including a reverse osmosis filtration system, water softener, and a new on-demand electric water heater, giving you efficiency and peace of mind. The AC unit is just 2 years old, and the metal roof adds long-term durability. Need space for hobbies or storage? This property delivers with a massive 40x30 garage/workshop plus an additional 16x12 metal outbuilding. Situated on a generous lot in a quiet Bremen neighborhood, this home offers space, upgrades, and flexibility that’s hard to find. Don’t miss your chance to own this move-in-ready home.

ⓘ 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: $5,060 · $422/mo
• Projected year-2 tax: $5,060 · $422/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 ≥99°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: $34,740
• − Mortgage interest: −$15,628
• − Property taxes: −$5,060
• − Insurance: −$1,395
• − Repairs & maintenance: −$2,779
• − Management: −$2,779
• − Depreciation: −$8,116
• Taxable loss: −$1,018
• Est. tax savings @ 24.0%: +$244
• After-tax cash flow: $3,677/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: Bremen Public Schools
• NCES district ID: 1800900
• Math proficiency: 47% ▼ -2.00%
• Reading proficiency: 49% ▼ -3.00%
• Median HH income: $50,187
• Composite: 41.15/100
• National rank: #3555
• State rank: #74 of 301 in IN

Livability — Bremen

• Score: 76/100
• State rank: #56
• US rank: #3697

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Bremen, IN
• Population (ZIP): 10,095

Population outlook (Marshall County) Hauer SSP2

• Today (2025): 46,402 people
• By 2030: 45,775 · -1.4%
• By 2040: 44,220 · -4.7%
• By 2050: 42,329 · -8.8%
• By 2075: 38,235 · -17.6%
• By 2100: 33,285 · -28.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (85%)
• Race & ethnicity: White 85% Hispanic / Latino 13% Two or more races 7% Asian 2%
• Hispanic origin (detail): Mexican 13%
• Common ancestry: Polish 3% Romanian 3% Slovak 3%
• Foreign-born: 6% · Canada, China, Jamaica
• Languages at home: 75% English-only · German/W. Germanic 13% Spanish 10% Chinese 1%

Political lean MEDSL · Marshall

• 2024 margin: Solid R (+43.4) · D 27.4% · R 70.8% · Other 1.8%
• 2008→2024 swing: -29.8pp toward R · 2008: -13.6pp · 2024: -43.4pp
• All cycles: 2024: R+43.4 2020: R+40.8 2016: R+41.6 2012: R+28.9 2008: R+13.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -106.91%
• Current HPI: 260.8517
• 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

-4.8% since first listed

2 events — show timeline

• 2026-04-28 Price Changed $295,000 IRMLS
• 2026-04-16 Listed $310,000 IRMLS

Property tax history

+16.1%/yr

Latest (2025): $5,060 · +8.3% YoY. Source: county tax records.