4395 E 200 S · Knox, IN 46534

$119,900

2 bd · 1.0 ba · 816 sqft · SingleFamily public records · 111 Days on market

Built 1955 0.76 ac lot $147/sqft · 27% below area Est $164k · 27% under ↓ 4% since listing

---

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 +30.0/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +7.5/10.0
• Livability +2.9/5.0
• Schools +2.6/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

2BR RANCH IN THE COUNTRY JUST SOUTH OF KNOX - Nice room layout with large living room and main floor laundry. Eat-in kitchen. Attached garage with opener. Large . 76 acre lot with excellent garden spot and additional well. Much potential and beautiful views. Situated nicely off the road. 200 S, Knox.

Key facts

• Attached garage
• Main floor laundry
• Large living room

Tags

• LARGE LIVING ROOM
• MAIN FLOOR LAUNDRY
• EAT-IN KITCHEN
• ATTACHED GARAGE
• GARDEN SPOT
• BEAUTIFUL VIEWS

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $120k.

Deal economics

• At list price, monthly cash flow is $485 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $120k).
• Recommended offer: $109k (9.0% below list) — sets the bar for market timing.
• Cap rate 11.1% vs local median 3.8% in Knox — 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 58/100 on livability (#583 in IN) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+; Watch: crime C-, schools D-, amenities F.
• Knox Community School Corporation (town): math 27% / reading 34% proficiency, ranked #242 of 301 in IN (top 80%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 146 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 $829 of loan paydown is wiped out by about $4k 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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $34k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 111 days — a 9% lower offer ($109k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts 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 1955 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $109,109 (9.0% below list)

Questions for the listing agent

1. It's been on market 111 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1955 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
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: 1.25% ✓
• Cap rate: 11.14%
• Cash-on-cash: 17.33%
• DSCR: 1.77
• GRM: 6.7

CMA / ARV

• ARV (median comp): $163,784
• List price: $119,900
• Delta: -29.85%
• Verdict: UNDERPRICED
• Comps: 4 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 8.6%
• Equity multiple: 1.34×
• Total profit: $11,391
• Equity at exit: $17,877

10-year hold

• IRR: 17.8%
• Equity multiple: 2.47×
• Total profit: $49,449
• Equity at exit: $10,367

Cash invested: $33,572 (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 46534

• Home prices YoY: -19.2%
• Active inventory: 146
• Price-to-rent: 6.7×

Monthly cashflow live

• Estimated rent: $1,500 medium
• Mortgage (P&I): −$629
• Tax from tax record: −$22 /mo · $262/yr
• Insurance: −$50
• HOA: −$0
• Vacancy / Maint / Mgmt: −$315
• Net cashflow: $485

Break-even live

Break-even rent $887

Max offer price $119,900

Occupancy floor 63%

Sensitivity live

Price	-10% $553	-5% $519	+0% $485	+5% $451	+10% $274
Rent	-10% $366	-5% $426	+0% $485	+5% $544	+10% $603
Rate	-1.0pp $545	-0.5pp $515	base $485	+0.5pp $454	+1.0pp $422

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: $29,975
• Closing costs: $3,597
• Reserves months: —
• Total cash needed: —

Listing history 23 events

1. 2026-06-17
   status $119,900 Pending 111 DOM
2. 2026-06-17
   days on market $119,900 Active 111 DOM
3. 2026-06-16
   days on market $119,900 Active 110 DOM
4. 2026-06-16
   pricedays on marketlisting id $119,900 Active 109 DOM
5. 2026-06-15
   days on market $114,900 Active 89 DOM
6. 2026-06-14
   days on market $114,900 Active 87 DOM
7. 2026-06-12
   days on market $114,900 Active 86 DOM
8. 2026-06-09
   days on market $114,900 Active 83 DOM
9. 2026-06-08
   days on market $114,900 Active 82 DOM
10. 2026-06-07
    days on market $114,900 Active 81 DOM
11. 2026-06-07
    days on market $114,900 Active 80 DOM
12. 2026-06-03
    days on market $114,900 Active 77 DOM
13. 2026-06-02
    days on market $114,900 Active 76 DOM
14. 2026-06-01
    days on market $114,900 Active 75 DOM
15. 2026-05-31
    days on market $114,900 Active 74 DOM
16. 2026-05-30
    days on market $114,900 Active 73 DOM
17. 2026-05-05
    price $114,900 301-char remark

    Show marketing remark (301 chars)

    2BR RANCH IN THE COUNTRY JUST SOUTH OF KNOX - Nice room layout with large living room and main floor laundry. Eat-in kitchen. Attached garage with opener. Large . 76 acre lot with excellent garden spot and additional well. Much potential and beautiful views. Situated nicely off the road. 200 S, Knox.

18. 2026-04-01
    status Active 301-char remark

    Show marketing remark (301 chars)

    2BR RANCH IN THE COUNTRY JUST SOUTH OF KNOX - Nice room layout with large living room and main floor laundry. Eat-in kitchen. Attached garage with opener. Large . 76 acre lot with excellent garden spot and additional well. Much potential and beautiful views. Situated nicely off the road. 200 S, Knox.

19. 2026-04-01
    status Active 301-char remark

    Show marketing remark (301 chars)

    2BR RANCH IN THE COUNTRY JUST SOUTH OF KNOX - Nice room layout with large living room and main floor laundry. Eat-in kitchen. Attached garage with opener. Large . 76 acre lot with excellent garden spot and additional well. Much potential and beautiful views. Situated nicely off the road. 200 S, Knox.

20. 2026-03-12
    status Pending 301-char remark

    Show marketing remark (301 chars)

    2BR RANCH IN THE COUNTRY JUST SOUTH OF KNOX - Nice room layout with large living room and main floor laundry. Eat-in kitchen. Attached garage with opener. Large . 76 acre lot with excellent garden spot and additional well. Much potential and beautiful views. Situated nicely off the road. 200 S, Knox.

21. 2026-03-12
    historical Active Under Contract 301-char remark

    Show marketing remark (301 chars)

    2BR RANCH IN THE COUNTRY JUST SOUTH OF KNOX - Nice room layout with large living room and main floor laundry. Eat-in kitchen. Attached garage with opener. Large . 76 acre lot with excellent garden spot and additional well. Much potential and beautiful views. Situated nicely off the road. 200 S, Knox.

22. 2026-02-26
    listed $119,900 Active 301-char remark

    Show marketing remark (301 chars)

    2BR RANCH IN THE COUNTRY JUST SOUTH OF KNOX - Nice room layout with large living room and main floor laundry. Eat-in kitchen. Attached garage with opener. Large . 76 acre lot with excellent garden spot and additional well. Much potential and beautiful views. Situated nicely off the road. 200 S, Knox.

23. 2026-02-26
    listed $119,900 Active 301-char remark

    Show marketing remark (301 chars)

    2BR RANCH IN THE COUNTRY JUST SOUTH OF KNOX - Nice room layout with large living room and main floor laundry. Eat-in kitchen. Attached garage with opener. Large . 76 acre lot with excellent garden spot and additional well. Much potential and beautiful views. Situated nicely off the road. 200 S, Knox.

ⓘ 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: $262 · $22/mo
• Projected year-2 tax: $641 · $53/mo
• Expected delta: +$379/yr (+$32/mo · 144.4%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone X (unshaded) · 22% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 2/10 Low 7 d/yr ≥101°F today · 16 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: $18,005
• − Mortgage interest: −$6,716
• − Property taxes: −$262
• − Insurance: −$600
• − Repairs & maintenance: −$1,440
• − Management: −$1,440
• − Depreciation: −$3,488
• Taxable income: $4,059
• Est. tax owed @ 24.0%: −$974
• After-tax cash flow: $4,843/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: Knox Community School Corporation
• NCES district ID: 1805340
• Math proficiency: 27% ▼ -9.00%
• Reading proficiency: 34% ▼ -8.00%
• Median HH income: $39,955
• Composite: 25.64/100
• National rank: #7401
• State rank: #242 of 301 in IN

Livability — Knox

• Score: 58/100
• State rank: #583
• US rank: #20938

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• City population: 11,029
• Population (ZIP): 11,029

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 4% Two or more races 3%
• Common ancestry: Romanian 5% Lithuanian 2% Slovak 2%
• Foreign-born: 2% · Canada
• Languages at home: 96% English-only · Spanish 2% Other Indo-European 2% German/W. Germanic 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: ▼ -58.15%
• Current HPI: 244.2216
• 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

-4.2% since first listed

7 events — show timeline

• 2026-05-05 Price Changed $114,900 NIRA MLS as Distributed by MLS Grid
• 2026-04-01 Relisted — IRMLS
• 2026-04-01 Relisted — NIRA MLS as Distributed by MLS Grid
• 2026-03-12 Pending — NIRA MLS as Distributed by MLS Grid
• 2026-03-12 Contingent — IRMLS
• 2026-02-26 Listed $119,900 IRMLS
• 2026-02-26 Listed $119,900 NIRA MLS as Distributed by MLS Grid

Property tax history

+1.9%/yr

Latest (2024): $262 · +3.0% YoY. Source: county tax records.