105 E Arlington Ave

North Judson, IN 46366

$59,800B+

2 bd · 1.0 ba · 864 sqft · Built 1900 · SingleFamily · Active · 5 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $862/mo
• Mortgage (P&I): −$314
• Tax + insurance: −$114
• HOA: −$0
• Vac / Maint / Mgmt: −$181
• Net cashflow: $253/mo
• Annual: $3,032/yr
• Cap rate: 11.36%
• Cash-on-cash: 18.11%
• DSCR: 1.81
• 1% rule: 1.44%
• Cash to close: $16,744

Investor read

• This is a 2-bed/1.0-bath single-family listed at $60k.
• At list price, monthly cash flow is $253 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($862 rent vs $60k).
• Only 5 days on market — expect competitive offers; lowballing is unlikely to land.
• Local home prices are declining (-3.0%/yr); year-one equity from $413 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Location reads 63/100 on livability (#423 in IN) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: employment D, schools D-, amenities F.
• North Judson-San Pierre School Corporation (rural): math 30% / reading 35% proficiency, ranked #218 of 301 in IN (top 72%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 38 active listings in the ZIP; 58 units permitted in Starke County in 2024 (0 in 5+ unit buildings).
• Starke County population projected at -23% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 4 sale attempts since 17y ago 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.
• Current owner paid $29k; list at $60k implies a 106% gain — meaningful room to come down on a strong offer.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $17k cash investment doubles in ~7 years — after that, you're playing with house money.
• Cap rate 11.4% vs local median 3.5% in North Judson — 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.

Questions for listing agent

• Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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.
• 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.
• 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.