11304 E Dakota St · Koontz Lake, IN 46574

$114,900

1 bd · 1.0 ba · 824 sqft · SingleFamily public records · 24 Days on market

Built 1969 Est $150k · 23% 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 +23.3/30.0
• ARV discount +15.0/15.0
• DSCR +7.5/10.0
• 1% rule +5.6/10.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.3/10.0
• Appreciation +0.0/10.0

Listing remarks

Currently used as a rental home, rented to long term renter for $850 per month.

Key facts

• Built 1969
• Listed 23 days

🏷️ Possibly a rental listed for sale. The $114,900 price doesn't fit this home's estimated sale value (~$149,968) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath single-family listed at $115k.

Deal economics

• At list price, monthly cash flow is $210 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $115k).
• Recommended offer: $113k (1.5% below list) — sets the bar for market timing.
• Cap rate 8.5% vs local median 3.1% in Koontz Lake — 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 61/100 on livability (#516 in IN) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A-; Watch: employment D+, schools F, amenities F.
• Oregon-Davis School Corporation (rural): math 19% / reading 34% proficiency, ranked #257 of 301 in IN (top 85%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 64 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 $794 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 24 days — a 2% lower offer ($113k) is reasonable based on typical stale-listing flexibility.

Recommended offer $113,176 (1.5% below list)

Questions for the listing agent

1. Built in 1969 — 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. 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.
5. 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.
6. 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: 1.06% ✓
• Cap rate: 8.49%
• Cash-on-cash: 7.84%
• DSCR: 1.35
• GRM: 7.9

CMA / ARV

• ARV (on-the-fly): $149,968
• Comps found: 5

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
7993 N Tippecanoe Dr	0.24mi	2/1.0 (+1)	773 (-6%)	0mo	$290,000	$375	73
7976 N Tecumseh Rd	0.34mi	2/1.0 (+1)	900 (+9%)	0mo	$92,000	$102	64
8093 Tippecanoe Dr	0.12mi	2/1.0 (+1)	700 (-15%)	21mo	$330,000	$471	47
7798 N Topinabee Rd	0.53mi	2/1.0 (+1)	868 (+5%)	23mo	$117,500	$135	42
7713 N Tecumseh Rd	0.55mi	2/1.0 (+1)	936 (+14%)	14mo	$170,000	$182	36

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: -4.4%
• Equity multiple: 0.84×
• Total profit: $-5,249
• Equity at exit: $17,132

10-year hold

• IRR: 5.3%
• Equity multiple: 1.39×
• Total profit: $12,617
• Equity at exit: $9,934

Cash invested: $32,172 (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 46574

• Home prices YoY: -17.2%
• Active inventory: 64
• Price-to-rent: 7.9×

Monthly cashflow live

• Estimated rent: $1,214 medium
• Mortgage (P&I): −$603
• Tax from tax record: −$98 /mo · $1,179/yr
• Insurance: −$48
• HOA: −$0
• Vacancy / Maint / Mgmt: −$255
• Net cashflow: $210

Break-even live

Break-even rent $948

Max offer price $114,900

Occupancy floor 78%

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: $28,725
• Closing costs: $3,447
• Reserves months: —
• Total cash needed: —

Listing history 17 events

1. 2026-06-19
   days on market $114,900 Active 24 DOM
2. 2026-06-18
   days on market $114,900 Active 23 DOM
3. 2026-06-17
   days on market $114,900 Active 22 DOM
4. 2026-06-16
   days on market $114,900 Active 21 DOM
5. 2026-06-15
   days on market $114,900 Active 20 DOM
6. 2026-06-14
   days on market $114,900 Active 18 DOM
7. 2026-06-12
   days on market $114,900 Active 17 DOM
8. 2026-06-09
   days on market $114,900 Active 14 DOM
9. 2026-06-08
   days on market $114,900 Active 13 DOM
10. 2026-06-07
    days on market $114,900 Active 12 DOM
11. 2026-06-07
    days on market $114,900 Active 11 DOM
12. 2026-06-03
    days on market $114,900 Active 8 DOM
13. 2026-06-02
    days on market $114,900 Active 7 DOM
14. 2026-06-01
    days on market $114,900 Active 6 DOM
15. 2026-05-31
    days on market $114,900 Active 5 DOM
16. 2026-05-31
    days on market $114,900 Active 4 DOM
17. 2026-05-26
    listed $114,900 Active

ⓘ 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: $1,179 · $98/mo
• Projected year-2 tax: $1,179 · $98/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 1/10 Low FEMA zone X (unshaded) · 0% 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 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $14,563
• − Mortgage interest: −$6,436
• − Property taxes: −$1,179
• − Insurance: −$574
• − Repairs & maintenance: −$1,165
• − Management: −$1,165
• − Depreciation: −$3,343
• Taxable income: $701
• Est. tax owed @ 24.0%: −$168
• After-tax cash flow: $2,353/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: Oregon-Davis School Corporation
• NCES district ID: 1808460
• Math proficiency: 19% ▼ -13.00%
• Reading proficiency: 34% ▼ -5.00%
• Median HH income: $46,674
• Composite: 22.93/100
• National rank: #7991
• State rank: #257 of 301 in IN

Livability — Koontz Lake

• Score: 61/100
• State rank: #516
• US rank: #18383

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Koontz Lake, IN
• Population (ZIP): 7,414

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 (89%)
• Race & ethnicity: White 89% Hispanic / Latino 7% Two or more races 6%
• Hispanic origin (detail): Mexican 6%
• Common ancestry: Romanian 8% Slovak 2% Lithuanian 2%
• Foreign-born: 2% · Canada
• Languages at home: 96% English-only · Spanish 4%

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: ▼ -54.04%
• Current HPI: 260.7073
• 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

• 2026-05-26 Listed $114,900 FSBO.com

Property tax history

+1.1%/yr

Latest (2024): $1,179 · -13.4% YoY. Source: county tax records.