10841 Toledo Ave · Osceola, IN 46561

$99,000

2 bd · 1.0 ba · 2,080 sqft · SingleFamily public records · 14 Days on market

Built 1935 0.41 ac lot $48/sqft · 72% below area

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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 +29.9/30.0
• DSCR +10.0/10.0
• 1% rule +8.9/10.0
• ARV discount +7.5/15.0
• Schools +5.1/10.0
• Livability +3.5/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Great investor opportunity in Penn Township! Situated on a spacious corner lot, this property offers strong potential for renovation or redevelopment. Home is being sold as-is and requires significant work, making it ideal for investors or buyers looking to build equity. Bring your vision and unlock the possibilities this property has to offer.

Key facts

• Spacious corner lot
• 0.41 acre lot
• Built 1935

Tags

• SPACIOUS CORNER LOT

Property features AI

Finance

• Other: Property listed by Cressy & Everett - Elkhart

Exterior

• Utilities: Private well water; Septic tank sewer
• Home design: Single-family residence; Site-built home; One story
• Construction: Vinyl siding
• Exterior features: Corner lot; Lot dimensions approximately 81 x 219

Interior

• Bathrooms: 1 full bathroom (main level)
• Heating & cooling: Forced air heating; No central air
• Interior features: 9 total rooms; Crawl space basement (none finished)
• Laundry & utility: Laundry on main level

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $99k.

Deal economics

• At list price, monthly cash flow is $366 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $99k).
• Cap rate 10.7% vs local median 3.4% in Osceola — 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 70/100 on livability (#144 in IN) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F, health & safety D-.
• Penn-Harris-Madison School Corporation (suburban): math 54% / reading 64% proficiency, ranked #19 of 301 in IN (top 6%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Bittersweet Elementary School (math 71% / reading 64%, grade B+, #52 of 994 statewide, top 5%, 520 students, 28% FRL); Schmucker Middle School (math 40% / reading 56%, grade C-, #60 of 330 statewide, top 18%, 1,004 students, 36% FRL); Penn High School (math 53% / reading 83%, grade B, #22 of 369 statewide, top 6%, 3,624 students, 27% FRL).
• Market conditions: 112 active listings in the ZIP; 754 units permitted in St. Joseph County in 2024 (460 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $684 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $28k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• Only 14 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts since 9y 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 1935 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $99,000

Questions for the listing agent

1. Built in 1935 — 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: 1.39% ✓
• Cap rate: 10.73%
• Cash-on-cash: 15.86%
• DSCR: 1.71
• GRM: 6.0

CMA / ARV

• ARV (median comp): $290,967
• List price: $99,000
• Delta: -65.98%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
55739 Setter Ln	0.50mi	3/2.0 (+1)	2,097 (+1%)	7mo	$310,500	$148	60
10532 Toledo Ave	0.32mi	3/2.0 (+1)	1,960 (-6%)	10mo	$287,000	$146	58
11347 Mckinley Hwy	0.52mi	3/1.5 (+1)	2,024 (-3%)	14mo	$249,000	$123	52
11476 Lauren Dr	0.68mi	3/2.0 (+1)	2,175 (+5%)	3mo	$321,000	$148	50
11358 Lauren Dr	0.55mi	3/2.0 (+1)	1,970 (-5%)	10mo	$280,000	$142	49
55566 Labrador Ct	0.39mi	3/2.5 (+1)	2,324 (+12%)	3mo	$355,000	$153	48
55759 Apple Rd	0.49mi	3/1.5 (+1)	1,780 (-14%)	2mo	$259,000	$146	44
55855 Season Ct	0.61mi	3/2.5 (+1)	1,909 (-8%)	8mo	$345,000	$181	40
55815 Wild Game Dr	0.48mi	3/3.0 (+1)	2,386 (+15%)	2mo	$365,000	$153	39
54805 W Sunray Dr	0.67mi	3/2.5 (+1)	2,246 (+8%)	8mo	$295,000	$131	38
55161 Patrician Park Dr	0.69mi	3/2.0 (+1)	1,877 (-10%)	6mo	$295,000	$157	37
54755 Columbia Bay Nbv 230 Dr	0.73mi	3/2.5 (+1)	2,318 (+11%)	16mo	$599,000	$258	23

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: 6.8%
• Equity multiple: 1.26×
• Total profit: $7,335
• Equity at exit: $14,761

10-year hold

• IRR: 16.1%
• Equity multiple: 2.32×
• Total profit: $36,612
• Equity at exit: $8,560

Cash invested: $27,720 (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 46561

• Home prices YoY: -27.2%
• Active inventory: 112
• Price-to-rent: 6.0×

Monthly cashflow live

• Estimated rent: $1,378 medium
• Mortgage (P&I): −$519
• Tax from tax record: −$162 /mo · $1,940/yr
• Insurance: −$41
• HOA: −$0
• Vacancy / Maint / Mgmt: −$289
• Net cashflow: $366

Break-even live

Break-even rent $914

Max offer price $99,000

Occupancy floor 68%

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: $24,750
• Closing costs: $2,970
• Reserves months: —
• Total cash needed: —

Listing history 8 events

1. 2026-06-09
   statusdays on market $99,000 Pending 14 DOM
2. 2026-06-08
   days on market $99,000 Active 13 DOM
3. 2026-06-07
   statusdays on market $99,000 Active 12 DOM
4. 2026-05-17
   status Pending 346-char remark
5. 2026-05-15
   status Active 346-char remark
6. 2026-05-11
   status Pending 346-char remark
7. 2026-05-04
   listed $99,000 Active 346-char remark
8. 2017-11-09
   listed $82,000

ⓘ 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: $1,940 · $162/mo
• Projected year-2 tax: $1,940 · $162/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 3/10 Moderate FEMA zone X (unshaded) · 10% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥101°F today · 16 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $16,533
• − Mortgage interest: −$5,546
• − Property taxes: −$1,940
• − Insurance: −$495
• − Repairs & maintenance: −$1,323
• − Management: −$1,323
• − Depreciation: −$2,880
• Taxable income: $3,027
• Est. tax owed @ 24.0%: −$727
• After-tax cash flow: $3,670/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: Penn-Harris-Madison School Corporation
• NCES district ID: 1808760
• Math proficiency: 54% ▼ -11.00%
• Reading proficiency: 64% ▼ -6.00%
• Median HH income: $59,421
• Composite: 51.11/100
• National rank: #1764
• State rank: #19 of 301 in IN

Livability — Osceola

• Score: 70/100
• State rank: #144
• US rank: #7375

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• City population: 14,499
• Population (ZIP): 14,499

Population outlook (St. Joseph County) Hauer SSP2

• Today (2025): 273,186 people
• By 2030: 273,594 · +0.1%
• By 2040: 271,641 · -0.6%
• By 2050: 269,187 · -1.5%
• By 2075: 263,136 · -3.7%
• By 2100: 245,659 · -10.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (87%)
• Race & ethnicity: White 87% Hispanic / Latino 9% Two or more races 7% Black 2% Asian 1%
• Hispanic origin (detail): Mexican 4% Puerto Rican 4%
• Common ancestry: Romanian 5% Italian 2% Lithuanian 1%
• Foreign-born: 3% · Canada
• Languages at home: 95% English-only · Spanish 3% Arabic 1% Korean 1%

Political lean MEDSL · St. Joseph

• 2024 margin: Toss-up / Even · D 50.0% · R 48.5% · Other 1.5%
• 2008→2024 swing: -15.6pp toward R · 2008: 17.1pp · 2024: 1.5pp
• All cycles: 2024: D+1.5 2020: D+5.8 2016: D+0.2 2012: D+3.5 2008: D+17.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -81.38%
• Current HPI: 217.644
• 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

+9.8% since first listed

8 events — show timeline

• 2026-06-11 Sold (MLS) $90,000 IRMLS
• 2026-06-09 Pending — IRMLS
• 2026-06-04 Relisted — IRMLS
• 2026-05-17 Pending — IRMLS
• 2026-05-15 Relisted — IRMLS
• 2026-05-11 Pending — IRMLS
• 2026-05-04 Listed $99,000 IRMLS
• 2017-11-09 Listed $82,000 IRMLS

Property tax history

+16.3%/yr

Latest (2025): $1,940 · -2.1% YoY. Source: county tax records.