130 W Maple St · Pennville, IN 47369

$2,500

4 bd · 2.0 ba · 1,610 sqft · SingleFamily · 16 Days on market

Built 1930 0.86 ac lot $2/sqft · 97% below area

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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 +15.0/30.0
• Appreciation +7.8/10.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Schools +3.2/10.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Great opportunity to purchase the Pennville Friends Church on 0.3+/- Acre Lot, or the 4 Bedroom, 2 Bathroom Home on 0.3+/- Acre Lot, or the 0.26 +/- Acre Vacant Lot or the entirety. This is a great opportunity to add to your investment portfolio or start a church here in Pennville, IN.

Key facts

• 0.86 acre lot
• Built 1930
• Listed 16 days

🏷️ Possibly a rental listed for sale. The $2,500 price doesn't fit this home's estimated sale value (~$99,013) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $2k.

Deal economics

• At list price, monthly cash flow is $1k ($12k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $2k).
• Recommended offer: $2k (1.5% below list) — sets the bar for market timing.

Location & tenants

• Location reads 61/100 on livability (#489 in IN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: employment C-, crime D+, health & safety D.
• Jay School Corporation (rural): math 38% / reading 37% proficiency, ranked #175 of 301 in IN (top 58%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 6 active listings in the ZIP; 19 units permitted in Jay County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $155 of equity ($17 loan paydown + $138 appreciation (5.5% local appreciation)).
• Jay County population projected at -12% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (5.5% appreciation + 3.0% rent growth), your $700 cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 16 days — a 2% lower offer ($2k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1930 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $2,462 (1.5% below list)

Questions for the listing agent

1. Built in 1930 — 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. 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?
4. Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
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: 51.61% ✓
• Cap rate: 487.26%
• Cash-on-cash: 1717.72%
• DSCR: 77.43
• GRM: 0.2

CMA / ARV

• ARV (median comp): $99,013
• List price: $2,500
• Delta: -97.48%
• Verdict: UNDERPRICED
• Comps: 13 within 1.0 mi

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
130 W Maple St	0.00mi	4/2.0	1,610 (0%)	0mo	$41,735	$26	100
460 Maple St	0.29mi	3/1.0 (-1)	1,560 (-3%)	4mo	$73,500	$47	69
240 S Washington St	0.28mi	3/1.0 (-1)	1,380 (-14%)	0mo	$95,000	$69	54

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

5.5% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 93.12×
• Total profit: $64,487
• Equity at exit: $1,494

10-year hold

• IRR: —
• Equity multiple: 200.68×
• Total profit: $139,774
• Equity at exit: $2,645

Cash invested: $700 (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 47369

• Home prices YoY: 2.0%
• Active inventory: 6
• Price-to-rent: 0.2×

Monthly cashflow live

• Estimated rent: $1,290 medium
• Mortgage (P&I): −$13
• Tax est. 1.5%: −$3 /mo · $38/yr
• Insurance: −$1
• HOA: −$0
• Vacancy / Maint / Mgmt: −$271
• Net cashflow: $1,002

Break-even live

Break-even rent $22

Max offer price $2,500

Occupancy floor 17%

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: $625
• Closing costs: $75
• Reserves months: —
• Total cash needed: —

Listing history 2 events

1. 2026-05-08
   status Pending 286-char remark

   Show marketing remark (286 chars)

   Great opportunity to purchase the Pennville Friends Church on 0.3+/- Acre Lot, or the 4 Bedroom, 2 Bathroom Home on 0.3+/- Acre Lot, or the 0.26 +/- Acre Vacant Lot or the entirety. This is a great opportunity to add to your investment portfolio or start a church here in Pennville, IN.

2. 2026-04-21
   listed $2,500 Active 286-char remark

   Show marketing remark (286 chars)

   Great opportunity to purchase the Pennville Friends Church on 0.3+/- Acre Lot, or the 4 Bedroom, 2 Bathroom Home on 0.3+/- Acre Lot, or the 0.26 +/- Acre Vacant Lot or the entirety. This is a great opportunity to add to your investment portfolio or start a church here in Pennville, IN.

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 3/10 Moderate FEMA zone X (unshaded) · 10% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥99°F today · 18 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 0% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,483
• − Mortgage interest: −$140
• − Property taxes: −$38
• − Insurance: −$12
• − Repairs & maintenance: −$1,239
• − Management: −$1,239
• − Depreciation: −$73
• Taxable income: $12,743
• Est. tax owed @ 24.0%: −$3,058
• After-tax cash flow: $8,966/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: Jay School Corporation
• NCES district ID: 1804980
• Math proficiency: 38% ▼ -13.00%
• Reading proficiency: 37% ▼ -13.00%
• Median HH income: $40,841
• Composite: 31.56/100
• National rank: #5954
• State rank: #175 of 301 in IN

Livability — Pennville

• Score: 61/100
• State rank: #489
• US rank: #17460

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Pennville, IN
• Population (ZIP): 1,216

Population outlook (Jay County) Hauer SSP2

• Today (2025): 20,586 people
• By 2030: 20,155 · -2.1%
• By 2040: 19,274 · -6.4%
• By 2050: 18,203 · -11.6%
• By 2075: 15,062 · -26.8%
• By 2100: 10,857 · -47.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (87%)
• Race & ethnicity: White 87% Two or more races 13% Hispanic / Latino 3%
• Common ancestry: Slovak 4% Lithuanian 1%
• Foreign-born: 3% · Vietnam
• Languages at home: 94% English-only · German/W. Germanic 4% Spanish 1% Vietnamese 1%

Political lean MEDSL · Jay

• 2024 margin: Solid R (+55.2) · D 21.6% · R 76.7% · Other 1.7%
• 2008→2024 swing: -47.3pp toward R · 2008: -7.8pp · 2024: -55.2pp
• All cycles: 2024: R+55.2 2020: R+52.4 2016: R+47.8 2012: R+20.0 2008: R+7.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 5.50%
• Current HPI: 274.4559
• 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

2 events — show timeline

• 2026-05-08 Pending — IRMLS
• 2026-04-21 Listed $2,500 IRMLS