2756 N 1100 W

Chili, IN 46978

$80,000C+

2 bd · 1.5 ba · 1,025 sqft · Built 1971 · SingleFamily · Pending · 5 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $947/mo
• Mortgage (P&I): −$420
• Tax + insurance: −$133
• HOA: −$0
• Vac / Maint / Mgmt: −$199
• Net cashflow: $196/mo
• Annual: $2,347/yr
• Cap rate: 9.23%
• Cash-on-cash: 10.48%
• DSCR: 1.47
• 1% rule: 1.18%
• Cash to close: $22,400

Investor read

• This is a 2-bed/1.5-bath single-family listed at $80k. Condition is rated poor.
• At list price, monthly cash flow is $196 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($947 rent vs $80k).
• Only 5 days on market — expect competitive offers; lowballing is unlikely to land.
• In year one you build about $3k of equity ($553 loan paydown + $3k appreciation (3.6% local appreciation)).
• Location reads: area grade C — affects rentability + tenant quality, not the cash-flow math above.
• North Miami Community Schools (rural): math 26% / reading 42% proficiency, ranked #197 of 301 in IN (top 65%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 7 active listings in the ZIP; 35 units permitted in Miami County in 2024 (0 in 5+ unit buildings).
• Miami County population projected at -12% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (3.6% appreciation + 3.0% rent growth), your $22k cash investment doubles in ~4 years — after that, you're playing with house money.
• By year 10, paydown + projected appreciation supports a ~$33k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Questions for listing agent

• Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
• Built in 1971 — 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.
• 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.

Repairs flagged (vision-AI assessment)

• Major: Exposed wiring — Safety hazard
• Major: Missing cabinet doors — Aesthetics and functionality
• Major: Old HVAC system — Energy inefficiency and potential safety issues