1032 E Indiana Ave · Elkhart, IN 46516

$75,500

3 bd · 1.0 ba · 1,030 sqft · SingleFamily public records · 3 Days on market

Built 1916 10,800 sqft lot

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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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.8/10.0
• Appreciation +0.0/10.0

Listing remarks

ONLINE AUCTION!! Auction ends July 10th, 2026 @ 6PM EST. Stop renting and start building equity with this affordable 2-bedroom, 1-bath home located in the heart of Elkhart. This property offers a functional floor plan with the convenience of main-level laundry and a detached garage providing approximately 320 square feet of additional storage or workspace. Whether you're a first-time homebuyer looking for an affordable place to call home or an investor seeking to expand your rental portfolio, this property offers plenty of potential. With a price point under $100,000, opportunities like this are becoming increasingly difficult to find. Conveniently located near shopping, dining, schools, an

Key facts

• Near schools
• Near dining
• Near shopping

Tags

• MAIN-LEVEL LAUNDRY
• DETACHED GARAGE
• FUNCTIONAL FLOOR PLAN
• NEAR SHOPPING
• NEAR DINING
• NEAR SCHOOLS

Property features AI

Exterior

• Parking: Detached off-street garage with 1 garage space
• Utilities: Public water; Septic tank sewer
• Home design: Single-family residence (site-built); One story
• Construction: Shingle siding
• Exterior features: Level lot; Paved, publicly maintained road access; No fencing; Shingle roof

Interior

• Kitchen: Includes refrigerator and electric oven
• Bedrooms: Total of 6 rooms
• Flooring: Carpet; Vinyl
• Bathrooms: 1 full bathroom (main level)
• Heating & cooling: Natural gas heating; Window air conditioning unit(s)
• Interior features: Refrigerator; Electric oven; Crawl space basement
• Laundry & utility: Laundry on the main level

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $76k.

Deal economics

• At list price, monthly cash flow is $526 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $76k).
• Cap rate 14.6% vs local median 4.0% in Elkhart — 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 68/100 on livability (#224 in IN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: amenities C-, crime F, commute F.
• Elkhart Community Schools (urban): math 18% / reading 25% proficiency, ranked #271 of 301 in IN (top 90%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Mary Beck Elementary School (math 8% / reading 8%, grade F, #949 of 994 statewide, top 97%, 384 students, 89% FRL); Pierre Moran Middle School (math 12% / reading 25%, grade F, #276 of 330 statewide, top 84%, 459 students, 75% FRL); Elkhart High School (math 17% / reading 51%, grade F, #285 of 369 statewide, top 78%, 3,325 students, 63% FRL) — zoned schools average 76% FRL vs 60% district-wide (16 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 149 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); 484 units permitted in Elkhart County in 2024 (136 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $522 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Elkhart County population projected at +7% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $21k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1916 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $75,500

Questions for the listing agent

1. Built in 1916 — 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 F 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: 1.83% ✓
• Cap rate: 14.65%
• Cash-on-cash: 29.83%
• DSCR: 2.33
• GRM: 4.6

CMA / ARV

• ARV (on-the-fly): $162,740
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1607 Belmont Ave	0.13mi	3/1.0	940 (-9%)	9mo	$179,900	$191	72
1028 Taylor St	0.07mi	2/1.0 (-1)	904 (-12%)	0mo	$130,000	$144	72
2003 Lane Ave	0.57mi	2/1.0 (-1)	1,056 (+2%)	0mo	$140,000	$133	64
1308 Eden St	0.60mi	2/1.0 (-1)	1,008 (-2%)	5mo	$48,000	$48	59
1028 Denver St	0.58mi	2/1.0 (-1)	1,056 (+2%)	7mo	$182,000	$172	58
606 James St	0.67mi	3/1.0	1,104 (+7%)	0mo	$199,900	$181	56
1524 Frances Ave	0.57mi	3/1.0	950 (-8%)	6mo	$150,000	$158	55
509 E Lusher Ave	0.68mi	3/1.0	1,080 (+5%)	7mo	$80,000	$74	54
1007 Baker Dr	0.41mi	2/1.0 (-1)	924 (-10%)	6mo	$88,000	$95	54
2214 Mather Ave	0.74mi	3/1.0	1,012 (-2%)	11mo	$180,000	$178	54
539 Goshen Ave	0.66mi	2/1.0 (-1)	968 (-6%)	12mo	$107,500	$111	44
2114 Lane Ave	0.62mi	2/1.0 (-1)	912 (-12%)	4mo	$147,500	$162	44

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: 24.4%
• Equity multiple: 2.01×
• Total profit: $21,285
• Equity at exit: $11,257

10-year hold

• IRR: 32.3%
• Equity multiple: 3.92×
• Total profit: $61,827
• Equity at exit: $6,528

Cash invested: $21,140 (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 46516

• Active inventory: 149
• Price-to-rent: 4.6×

Monthly cashflow live

• Estimated rent: $1,381 medium
• Mortgage (P&I): −$396
• Tax from tax record: −$138 /mo · $1,653/yr
• Insurance: −$31
• HOA: −$0
• Vacancy / Maint / Mgmt: −$290
• Net cashflow: $526

Break-even live

Break-even rent $715

Max offer price $75,500

Occupancy floor 57%

Sensitivity live

Price	-10% $568	-5% $547	+0% $526	+5% $504	+10% $483
Rent	-10% $416	-5% $471	+0% $526	+5% $580	+10% $635
Rate	-1.0pp $564	-0.5pp $545	base $526	+0.5pp $506	+1.0pp $486

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: $18,875
• Closing costs: $2,265
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1308 Princeton St Elkhart, IN	2.0	1.0	981	$1,350	$1.38	22d	1	0.40mi
2629 Decamp Ave Elkhart, IN	1.0–2.0	1.0	775	$950	$1.23	22d	1	1.03mi
2700 Ridgewood Dr Elkhart, IN	3.0	1.0–2.0	720	$1,450	$2.01	45d	1	1.08mi
200 Jr. Achievement Dr Elkhart, IN	1.0–2.0	1.0–2.0	946	$1,770	$1.87	22d	10	1.23mi

Listing history 3 events

1. 2026-06-21
   pricedays on market $75,500 Active 3 DOM
2. 2026-06-19
   remarks 699-char remark
3. 2026-06-19
   listed $50,000 Active 1 DOM

ⓘ 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: $1,653 · $138/mo
• Projected year-2 tax: $1,653 · $138/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 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $16,567
• − Mortgage interest: −$4,229
• − Property taxes: −$1,653
• − Insurance: −$378
• − Repairs & maintenance: −$1,325
• − Management: −$1,325
• − Depreciation: −$2,196
• Taxable income: $5,460
• Est. tax owed @ 24.0%: −$1,310
• After-tax cash flow: $4,996/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: Elkhart Community Schools
• NCES district ID: 1803270
• Math proficiency: 18% ▼ -12.00%
• Reading proficiency: 25% ▼ -9.00%
• Median HH income: $42,881
• Composite: 18.45/100
• National rank: #8928
• State rank: #271 of 301 in IN

Livability — Elkhart

• Score: 68/100
• State rank: #224
• US rank: #9852

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Elkhart, IN
• County: Elkhart County · 107,928 people
• City population: 74,260
• Metro: Elkhart-Goshen, IN
• Population (ZIP): 31,871
• Household income: $56,492
• Rent vs Own: 37.3% rent · 62.7% own
• Severe rent burden: 995.0

Population outlook (Elkhart County) Hauer SSP2

• Today (2025): 213,761 people
• By 2030: 218,103 · +2.0%
• By 2040: 225,381 · +5.4%
• By 2050: 229,447 · +7.3%
• By 2075: 232,856 · +8.9%
• By 2100: 214,088 · +0.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.56)
• Race & ethnicity: White 60% Hispanic / Latino 26% Black 9% Two or more races 8% Asian 1%
• Hispanic origin (detail): Mexican 15%
• Common ancestry: Romanian 2% Iranian 2% Lithuanian 2%
• Foreign-born: 15% · Canada
• Languages at home: 77% English-only · Spanish 19% Other Indo-European 3%

Political lean MEDSL · Elkhart

• 2024 margin: Solid R (+32.4) · D 33.1% · R 65.5% · Other 1.4%
• 2008→2024 swing: -21.2pp toward R · 2008: -11.2pp · 2024: -32.4pp
• All cycles: 2024: R+32.4 2020: R+28.1 2016: R+32.4 2012: R+26.5 2008: R+11.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -233.42%
• Current HPI: 239.2508
• Rent YoY: —
• Metro: Elkhart-Goshen, IN
• 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

+51.0% since first listed

2 events — show timeline

• 2026-06-20 Price Changed $75,500 IRMLS
• 2026-06-18 Listed $50,000 IRMLS

Property tax history

+3.4%/yr

Latest (2025): $1,653 · +30.2% YoY. Source: county tax records.