126 E Whitley St · Churubusco, IN 46723

$120,000

4 bd · 1.0 ba · 1,375 sqft · SingleFamily public records · 1 Days on market

Built 1890 3,036 sqft lot Est $202k · 41% under

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Why this score? — see what drove the C 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 +21.0/30.0
• ARV discount +15.0/15.0
• DSCR +6.7/10.0
• 1% rule +4.7/10.0
• Livability +3.6/5.0
• Schools +3.4/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to 126 E Whitley Street, Churubusco, Indiana! This spacious 4-bedroom, 2-bath home offers approximately 1,375 square feet of living space and is conveniently located near local schools, parks, shopping, and downtown amenities. Inside, you'll find a functional floor plan with generously sized bedrooms and ample living space. Whether you're a first-time homebuyer looking for room to grow or an investor seeking your next opportunity, this property offers excellent potential. Situated in the charming community of Churubusco and just a short drive from Fort Wayne, this home provides the perfect balance of small-town living and convenient access to larger city amenities. Don't miss your o

Key facts

• 3,036 sq ft lot
• Built 1890

Property features AI

Exterior

• Utilities: Public water; Public sewer
• Home design: Single-family residence; Site-built home; 2 stories
• Construction: Vinyl siding
• Exterior features: Level lot; Lot dimensions approximately 46 x 66

Interior

• Bedrooms: Total of 9 rooms (bedrooms included)
• Bathrooms: 2 full bathrooms; 1 main-level bathroom
• Heating & cooling: Forced air heating; No cooling
• Interior features: Partial basement; Basement present
• Laundry & utility: Laundry on the main level

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $120k.

Deal economics

• At list price, monthly cash flow is $170 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $116k (3.0% below list).
• Recommended offer: $116k (3.0% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 71/100 on livability (#136 in IN) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: employment D, amenities F, commute F.
• Smith-Green Community Schools (rural): math 35% / reading 43% proficiency, ranked #142 of 301 in IN (top 47%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Churubusco Elementary School (math 49% / reading 46%, grade D, #321 of 994 statewide, top 33%, 485 students, 31% FRL); Churubusco Jr-Sr High School (math 27% / reading 42%, grade F, #270 of 369 statewide, top 77%, 647 students, 26% FRL).
• Market conditions: 57 active listings in the ZIP; 98 units permitted in Whitley County in 2024 (22 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $830 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Whitley County population projected at -10% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 13y 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.

Risks & watch-outs

• Watch-outs: built in 1890 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $116,421 (3.0% below list)

Questions for the listing agent

1. Built in 1890 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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.
4. 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.
5. 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: 0.97% ✗
• Cap rate: 7.99%
• Cash-on-cash: 6.06%
• DSCR: 1.27
• GRM: 8.6

CMA / ARV

• ARV (on-the-fly): $202,125
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
121 N Mulberry St	0.14mi	3/1.0 (-1)	1,400 (+2%)	16mo	$180,000	$129	72
218 Clingerman Ave	0.42mi	3/1.5 (-1)	1,352 (-2%)	5mo	$193,000	$143	67
286 E Whitley St	0.18mi	3/2.5 (-1)	1,489 (+8%)	3mo	$292,000	$196	64
521 N Mulberry St	0.36mi	3/2.0 (-1)	1,404 (+2%)	8mo	$72,000	$51	64
456 N Line St	0.40mi	3/2.0 (-1)	1,392 (+1%)	14mo	$172,000	$124	59
407 S Main St	0.19mi	3/2.0 (-1)	1,474 (+7%)	18mo	$189,900	$129	55
809 W Anderson Rd	0.68mi	3/2.0 (-1)	1,322 (-4%)	1mo	$229,000	$173	52
309 West St	0.42mi	4/2.0	1,508 (+10%)	11mo	$278,000	$184	51
307 Millstone Run	0.38mi	3/1.5 (-1)	1,256 (-9%)	13mo	$200,000	$159	50
421 W Whitley St	0.35mi	3/1.0 (-1)	1,502 (+9%)	19mo	$185,000	$123	48
135 Millstone Run	0.36mi	3/2.0 (-1)	1,256 (-9%)	20mo	$233,000	$186	43
226 Jewel Ct	0.36mi	3/1.0 (-1)	1,168 (-15%)	15mo	$172,000	$147	41

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: -7.0%
• Equity multiple: 0.74×
• Total profit: $-8,662
• Equity at exit: $17,892

10-year hold

• IRR: 2.6%
• Equity multiple: 1.19×
• Total profit: $6,255
• Equity at exit: $10,375

Cash invested: $33,600 (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 46723

• Home prices YoY: -22.8%
• Active inventory: 57
• Price-to-rent: 8.6×

Monthly cashflow live

• Estimated rent: $1,164 medium
• Mortgage (P&I): −$629
• Tax from tax record: −$71 /mo · $848/yr
• Insurance: −$50
• HOA: −$0
• Vacancy / Maint / Mgmt: −$244
• Net cashflow: $170

Break-even live

Break-even rent $949

Max offer price $120,000

Occupancy floor 80%

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: $30,000
• Closing costs: $3,600
• Reserves months: —
• Total cash needed: —

Listing history 3 events

1. 2026-06-15
   status $120,000 Pending 1 DOM
2. 2026-06-14
   remarks 699-char remark
3. 2026-06-14
   listed $120,000 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: $848 · $71/mo
• Projected year-2 tax: $934 · $78/mo
• Expected delta: +$86/yr (+$7/mo · 10.2%)

ⓘ 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 · 17 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: $13,971
• − Mortgage interest: −$6,722
• − Property taxes: −$848
• − Insurance: −$600
• − Repairs & maintenance: −$1,118
• − Management: −$1,118
• − Depreciation: −$3,491
• Taxable income: $75
• Est. tax owed @ 24.0%: −$18
• After-tax cash flow: $2,020/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: Smith-Green Community Schools
• NCES district ID: 1810230
• Math proficiency: 35% ▼ -5.00%
• Reading proficiency: 43% ▼ -7.00%
• Median HH income: $56,107
• Composite: 34.22/100
• National rank: #5263
• State rank: #142 of 301 in IN

Livability — Churubusco

• Score: 71/100
• State rank: #136
• US rank: #7024

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Churubusco, IN
• Population (ZIP): 7,575

Population outlook (Whitley County) Hauer SSP2

• Today (2025): 33,363 people
• By 2030: 32,930 · -1.3%
• By 2040: 31,598 · -5.3%
• By 2050: 29,902 · -10.4%
• By 2075: 25,785 · -22.7%
• By 2100: 20,729 · -37.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (95%)
• Race & ethnicity: White 95% Two or more races 2% Hispanic / Latino 1%
• Common ancestry: Italian 9% Lithuanian 4% Romanian 1%
• Foreign-born: 1% · Canada
• Languages at home: 98% English-only · Spanish 0%

Political lean MEDSL · Whitley

• 2024 margin: Solid R (+49.9) · D 24.1% · R 74.0% · Other 1.9%
• 2008→2024 swing: -28.4pp toward R · 2008: -21.5pp · 2024: -49.9pp
• All cycles: 2024: R+49.9 2020: R+49.1 2016: R+51.4 2012: R+38.9 2008: R+21.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -68.50%
• Current HPI: 232.4457
• 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

+58.5% since first listed

2 events — show timeline

• 2026-06-13 Listed $120,000 IRMLS
• 2013-07-27 Listed $75,700 IRMLS

Property tax history

+10.0%/yr

Latest (2024): $848 · -63.8% YoY. Source: county tax records.