7162 E Washburn Dr · Buffalo, IN 47960

$72,750

2 bd · 2.0 ba · 1,188 sqft · SingleFamily public records · 150 Days on market

Built 1997 0.49 ac lot $61/sqft · 15% below area Est $85k · 15% under ↓ 50% since listing

---

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
• ARV discount +14.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Schools +2.5/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Motivate! Seller wants an offer! This open floor plan features 2 bedrooms, 2 bathrooms, and a convenient 2-car detached garage. Enjoy a spacious, fenced-in backyard complete with a pool and deck, perfect for summer entertaining. The roof was newly installed in 2024. This property needs some tender loving care, offering a wonderful opportunity to add your personal touches and build equity. Cash or conventional loan.

Key facts

• Open floor plan
• Pool and deck
• Newly installed roof

Tags

• OPEN FLOOR PLAN
• FENCED-IN BACKYARD
• POOL AND DECK
• NEWLY INSTALLED ROOF

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath single-family listed at $73k.

Deal economics

• At list price, monthly cash flow is $571 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $73k).
• Recommended offer: $64k (12.0% below list) — sets the bar for market timing.
• Cap rate 15.7% vs local median 2.3% in Buffalo — 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 68/100 on livability (#232 in IN) — a middle-class / working-renter tenant base. Strengths: employment A+, cost of living A+, housing A+; Watch: schools F, amenities F, commute F.
• North White School Corporation (rural): math 25% / reading 34% proficiency, ranked #245 of 301 in IN (top 81%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 224 active listings in the ZIP; 47 units permitted in White County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $502 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• White County population projected at -19% 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 $20k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 150 days — a 12% lower offer ($64k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $62k (46%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Recommended offer $64,020 (12.0% below list)

Questions for the listing agent

1. It's been on market 150 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
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: 1.77% ✓
• Cap rate: 15.72%
• Cash-on-cash: 33.65%
• DSCR: 2.50
• GRM: 4.7

CMA / ARV

• ARV (median comp): $85,101
• List price: $72,750
• Delta: -14.51%
• Verdict: UNDERPRICED
• Comps: 2 within 1.0 mi

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
6615 E Chapmans Dr	0.47mi	2/1.0	1,244 (+5%)	15mo	$95,000	$76	54
6830 E Palmers Dr	0.30mi	2/2.0	1,018 (-14%)	16mo	$205,000	$201	49

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: 28.9%
• Equity multiple: 2.21×
• Total profit: $24,577
• Equity at exit: $10,847

10-year hold

• IRR: 36.3%
• Equity multiple: 4.35×
• Total profit: $68,180
• Equity at exit: $6,290

Cash invested: $20,370 (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 47960

• Home prices YoY: -17.8%
• Active inventory: 224
• Price-to-rent: 4.7×

Monthly cashflow live

• Estimated rent: $1,284 medium
• Mortgage (P&I): −$382
• Tax from tax record: −$32 /mo · $378/yr
• Insurance: −$30
• HOA: −$0
• Vacancy / Maint / Mgmt: −$270
• Net cashflow: $571

Break-even live

Break-even rent $561

Max offer price $72,750

Occupancy floor 51%

Sensitivity live

Price	-10% $612	-5% $592	+0% $571	+5% $551	+10% $530
Rent	-10% $470	-5% $521	+0% $571	+5% $622	+10% $673
Rate	-1.0pp $608	-0.5pp $590	base $571	+0.5pp $552	+1.0pp $533

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: $18,188
• Closing costs: $2,182
• Reserves months: —
• Total cash needed: —

Listing history 6 events

1. 2026-05-12
   status Pending 418-char remark

   Show marketing remark (418 chars)

   Motivate! Seller wants an offer! This open floor plan features 2 bedrooms, 2 bathrooms, and a convenient 2-car detached garage. Enjoy a spacious, fenced-in backyard complete with a pool and deck, perfect for summer entertaining. The roof was newly installed in 2024. This property needs some tender loving care, offering a wonderful opportunity to add your personal touches and build equity. Cash or conventional loan.

2. 2026-05-01
   price $72,750 418-char remark

   Show marketing remark (418 chars)

   Motivate! Seller wants an offer! This open floor plan features 2 bedrooms, 2 bathrooms, and a convenient 2-car detached garage. Enjoy a spacious, fenced-in backyard complete with a pool and deck, perfect for summer entertaining. The roof was newly installed in 2024. This property needs some tender loving care, offering a wonderful opportunity to add your personal touches and build equity. Cash or conventional loan.

3. 2026-04-02
   price $99,900 418-char remark

   Show marketing remark (418 chars)

   Motivate! Seller wants an offer! This open floor plan features 2 bedrooms, 2 bathrooms, and a convenient 2-car detached garage. Enjoy a spacious, fenced-in backyard complete with a pool and deck, perfect for summer entertaining. The roof was newly installed in 2024. This property needs some tender loving care, offering a wonderful opportunity to add your personal touches and build equity. Cash or conventional loan.

4. 2026-03-18
   price $109,000 418-char remark

   Show marketing remark (418 chars)

   Motivate! Seller wants an offer! This open floor plan features 2 bedrooms, 2 bathrooms, and a convenient 2-car detached garage. Enjoy a spacious, fenced-in backyard complete with a pool and deck, perfect for summer entertaining. The roof was newly installed in 2024. This property needs some tender loving care, offering a wonderful opportunity to add your personal touches and build equity. Cash or conventional loan.

5. 2025-12-12
   listed $135,000 Active 418-char remark

   Show marketing remark (418 chars)

   Motivate! Seller wants an offer! This open floor plan features 2 bedrooms, 2 bathrooms, and a convenient 2-car detached garage. Enjoy a spacious, fenced-in backyard complete with a pool and deck, perfect for summer entertaining. The roof was newly installed in 2024. This property needs some tender loving care, offering a wonderful opportunity to add your personal touches and build equity. Cash or conventional loan.

6. 2025-05-08
   listed $145,000 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: $378 · $32/mo
• Projected year-2 tax: $498 · $42/mo
• Expected delta: +$120/yr (+$10/mo · 31.8%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 3/10 Moderate 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 · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,411
• − Mortgage interest: −$4,075
• − Property taxes: −$378
• − Insurance: −$364
• − Repairs & maintenance: −$1,233
• − Management: −$1,233
• − Depreciation: −$2,116
• Taxable income: $6,012
• Est. tax owed @ 24.0%: −$1,443
• After-tax cash flow: $5,412/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: North White School Corporation
• NCES district ID: 1808130
• Math proficiency: 25% ▼ -15.00%
• Reading proficiency: 34% ▼ -9.00%
• Median HH income: $42,460
• Composite: 25.03/100
• National rank: #7550
• State rank: #245 of 301 in IN

Livability — Buffalo

• Score: 68/100
• State rank: #232
• US rank: #10015

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Buffalo, IN
• City population: 22
• Population (ZIP): 15,313

Population outlook (White County) Hauer SSP2

• Today (2025): 23,006 people
• By 2030: 22,204 · -3.5%
• By 2040: 20,441 · -11.1%
• By 2050: 18,711 · -18.7%
• By 2075: 14,989 · -34.8%
• By 2100: 10,896 · -52.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (92%)
• Race & ethnicity: White 92% Hispanic / Latino 6% Two or more races 3%
• Hispanic origin (detail): Mexican 5%
• Common ancestry: Romanian 4% Iranian 3% Lithuanian 2%
• Foreign-born: 4% · Canada
• Languages at home: 94% English-only · Spanish 4%

Political lean MEDSL · White

• 2024 margin: Solid R (+45.0) · D 26.4% · R 71.4% · Other 2.2%
• 2008→2024 swing: -36.7pp toward R · 2008: -8.3pp · 2024: -45.0pp
• All cycles: 2024: R+45.0 2020: R+44.1 2016: R+42.9 2012: R+23.6 2008: R+8.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -52.85%
• Current HPI: 243.8468
• 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

-49.8% since first listed

6 events — show timeline

• 2026-05-12 Pending — IRMLS
• 2026-05-01 Price Changed $72,750 IRMLS
• 2026-04-02 Price Changed $99,900 IRMLS
• 2026-03-18 Price Changed $109,000 IRMLS
• 2025-12-12 Listed $135,000 IRMLS
• 2025-05-08 Listed $145,000 IRMLS

Property tax history

+7.4%/yr

Latest (2024): $378 · +8.7% YoY. Source: county tax records.