2628 W First · North Judson, IN 46366

$110,000

3 bd · 1.0 ba · 1,090 sqft · SingleFamily public records · 78 Days on market

Built 1998 0.59 ac lot $101/sqft · 18% below area Est $134k · 18% under

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Why this score? — see what drove the D+ 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).

• ARV discount +15.0/15.0
• Cash flow +14.0/30.0
• DSCR +4.2/10.0
• 1% rule +3.9/10.0
• Livability +3.2/5.0
• Schools +2.8/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Built in 1998, this home offers solid potential with a large lot and convenient carport. Property is in need of a new roof, interior updates, and repairs, making it a great opportunity for investors or buyers looking to add value. Seller financing available, providing flexible options for the right buyer. Sold as-is.

Key facts

• 0.59 acre lot
• Built 1998
• Listed 78 days

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $110k.

Deal economics

• At list price, monthly cash flow is $14 ($173/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 $98k (10.9% below list).
• Recommended offer: $98k (10.9% below list) — sets the bar for 1% rule.
• Cap rate 6.4% vs local median 3.7% 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.

Location & tenants

• 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.
• Market conditions: 38 active listings in the ZIP; 58 units permitted in Starke County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $761 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Starke County population projected at -23% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 78 days — a 6% lower offer ($103k) is reasonable based on typical stale-listing flexibility.

Recommended offer $98,047 (10.9% below list)

Questions for the listing agent

1. It's been on market 78 days. Have you received any prior offers? Is the seller open to a 11% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
6. 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.
7. 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.
8. 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: 0.89% ✗
• Cap rate: 6.45%
• Cash-on-cash: 0.56%
• DSCR: 1.02
• GRM: 9.3

CMA / ARV

• ARV (median comp): $133,777
• List price: $110,000
• Delta: -17.77%
• Verdict: UNDERPRICED
• Comps: 10 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -15.4%
• Equity multiple: 0.45×
• Total profit: $-16,894
• Equity at exit: $16,401

10-year hold

• IRR: -6.8%
• Equity multiple: 0.56×
• Total profit: $-13,471
• Equity at exit: $9,511

Cash invested: $30,800 (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 46366

• Home prices YoY: -12.7%
• Active inventory: 38
• Price-to-rent: 9.3×

Monthly cashflow live

• Estimated rent: $980 medium
• Mortgage (P&I): −$577
• Tax est. 1.5%: −$138 /mo · $1,650/yr
• Insurance: −$46
• HOA: −$0
• Vacancy / Maint / Mgmt: −$206
• Net cashflow: $14

Break-even live

Break-even rent $962

Max offer price $110,000

Occupancy floor 94%

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: $27,500
• Closing costs: $3,300
• Reserves months: —
• Total cash needed: —

Listing history 16 events

1. 2026-06-18
   days on market $110,000 Active 78 DOM
2. 2026-06-17
   days on market $110,000 Active 77 DOM
3. 2026-06-16
   days on market $110,000 Active 76 DOM
4. 2026-06-15
   days on market $110,000 Active 75 DOM
5. 2026-06-13
   days on market $110,000 Active 73 DOM
6. 2026-06-12
   days on market $110,000 Active 72 DOM
7. 2026-06-09
   days on market $110,000 Active 69 DOM
8. 2026-06-08
   days on market $110,000 Active 68 DOM
9. 2026-06-07
   days on market $110,000 Active 67 DOM
10. 2026-06-05
    days on market $110,000 Active 65 DOM
11. 2026-06-04
    days on market $110,000 Active 63 DOM
12. 2026-06-02
    days on market $110,000 Active 62 DOM
13. 2026-06-01
    days on market $110,000 Active 61 DOM
14. 2026-05-31
    days on market $110,000 Active 60 DOM
15. 2026-05-31
    days on market $110,000 Active 59 DOM
16. 2026-03-30
    listed $110,000 Active 318-char remark

    Show marketing remark (318 chars)

    Built in 1998, this home offers solid potential with a large lot and convenient carport. Property is in need of a new roof, interior updates, and repairs, making it a great opportunity for investors or buyers looking to add value. Seller financing available, providing flexible options for the right buyer. Sold as-is.

ⓘ 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 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 3/10 Moderate 7 d/yr ≥101°F today · 16 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 3/10 Moderate 1 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $11,766
• − Mortgage interest: −$6,162
• − Property taxes: −$1,650
• − Insurance: −$550
• − Repairs & maintenance: −$941
• − Management: −$941
• − Depreciation: −$3,200
• Taxable loss: −$1,679
• Est. tax savings @ 24.0%: +$403
• After-tax cash flow: $575/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: North Judson-San Pierre School Corporation
• NCES district ID: 1807800
• Math proficiency: 30% ▼ -10.00%
• Reading proficiency: 35% ▲ 3.00%
• Median HH income: $42,731
• Composite: 27.57/100
• National rank: #6940
• State rank: #218 of 301 in IN

Livability — North Judson

• Score: 63/100
• State rank: #423
• US rank: #15224

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• City population: 5,672
• Population (ZIP): 5,672

Population outlook (Starke County) Hauer SSP2

• Today (2025): 21,860 people
• By 2030: 21,024 · -3.8%
• By 2040: 19,041 · -12.9%
• By 2050: 16,881 · -22.8%
• By 2075: 11,880 · -45.7%
• By 2100: 7,217 · -67.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (92%)
• Race & ethnicity: White 92% Hispanic / Latino 5% Two or more races 3% Asian 1%
• Common ancestry: Romanian 5% Iranian 3% Slovak 2%
• Foreign-born: 2% · Canada
• Languages at home: 98% English-only · German/W. Germanic 1% Spanish 1%

Political lean MEDSL · Starke

• 2024 margin: Solid R (+52.0) · D 23.2% · R 75.3% · Other 1.5%
• 2008→2024 swing: -55.3pp toward R · 2008: 3.2pp · 2024: -52.0pp
• All cycles: 2024: R+52.0 2020: R+46.8 2016: R+42.0 2012: R+10.6 2008: D+3.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -32.58%
• Current HPI: 224.7809
• 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

1 event — show timeline

• 2026-03-30 Listed $110,000 NIRA MLS as Distributed by MLS Grid

Property tax history

-4.5%/yr

Latest (2024): $29 · +2.0% YoY. Source: county tax records.