8577 N 1175 E · Koontz Lake, IN 46574

$170,000

2 bd · 1.0 ba · 1,200 sqft · SingleFamily public records · 93 Days on market

Built 2008 5.00 ac lot $142/sqft · 14% below area Est $198k · 14% 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 +13.9/15.0
• Cash flow +9.4/30.0
• Livability +3.1/5.0
• DSCR +2.6/10.0
• 1% rule +2.5/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Opportunity awaits on 5 beautiful wooded acres at the end of a quiet dead-end road. This 2-bedroom, 1-bath home offers a private setting with endless potential. Property is in need of significant repairs and updates-ideal for investors, builders, or buyers looking for a project. Seller financing available, making this a unique opportunity for the right buyer. Sold as-is.

Key facts

• Wooded acres
• Quiet dead-end road
• Private setting

Tags

• WOODED ACRES
• PRIVATE SETTING
• QUIET DEAD-END ROAD

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $170k.

Deal economics

• At list price, monthly cash flow is $-122 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $148k (12.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $128k (24.5% below list).
• Recommended offer: $128k (24.5% below list) — sets the bar for 1% rule.
• Cap rate 5.4% 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 $1k of loan paydown is wiped out by about $5k 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 93 days — a 9% lower offer ($155k) is reasonable based on typical stale-listing flexibility.
• 2 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.

Recommended offer $128,289 (24.5% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 93 days. Have you received any prior offers? Is the seller open to a 25% concession, seller financing, or rate buy-down credit?
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 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?
6. 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?
7. 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.
8. 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.
9. 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: 0.75% ✗
• Cap rate: 5.43%
• Cash-on-cash: -3.07%
• DSCR: 0.86
• GRM: 11.0

CMA / ARV

• ARV (median comp): $198,422
• List price: $170,000
• Delta: -14.32%
• Verdict: UNDERPRICED
• Comps: 11 within 1.0 mi

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
11420 E 875 N	0.38mi	3/1.0 (+1)	1,378 (+15%)	20mo	$75,000	$54	36
11985 E Pineridge ln Ln	0.54mi	3/2.0 (+1)	1,357 (+13%)	10mo	$300,000	$221	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: -21.4%
• Equity multiple: 0.26×
• Total profit: $-35,304
• Equity at exit: $25,348

10-year hold

• IRR: -15.1%
• Equity multiple: 0.14×
• Total profit: $-40,744
• Equity at exit: $14,698

Cash invested: $47,600 (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: 11.0×

Monthly cashflow live

• Estimated rent: $1,283 medium
• Mortgage (P&I): −$891
• Tax from tax record: −$173 /mo · $2,074/yr
• Insurance: −$71
• HOA: −$0
• Vacancy / Maint / Mgmt: −$269
• Net cashflow: $-122

Break-even live

Break-even rent $1,437

Max offer price $148,500

Occupancy floor —

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: $42,500
• Closing costs: $5,100
• Reserves months: —
• Total cash needed: —

Listing history 19 events

1. 2026-06-19
   days on market $170,000 Active 93 DOM
2. 2026-06-18
   days on market $170,000 Active 92 DOM
3. 2026-06-17
   days on market $170,000 Active 91 DOM
4. 2026-06-16
   days on market $170,000 Active 90 DOM
5. 2026-06-15
   days on market $170,000 Active 89 DOM
6. 2026-06-14
   days on market $170,000 Active 87 DOM
7. 2026-06-12
   days on market $170,000 Active 86 DOM
8. 2026-06-09
   days on market $170,000 Active 83 DOM
9. 2026-06-08
   days on market $170,000 Active 82 DOM
10. 2026-06-07
    days on market $170,000 Active 81 DOM
11. 2026-06-07
    days on market $170,000 Active 80 DOM
12. 2026-06-03
    days on market $170,000 Active 77 DOM
13. 2026-06-02
    days on market $170,000 Active 76 DOM
14. 2026-06-01
    days on market $170,000 Active 75 DOM
15. 2026-05-31
    days on market $170,000 Active 74 DOM
16. 2026-05-31
    days on market $170,000 Active 73 DOM
17. 2026-04-08
    status Active 373-char remark

    Show marketing remark (373 chars)

    Opportunity awaits on 5 beautiful wooded acres at the end of a quiet dead-end road. This 2-bedroom, 1-bath home offers a private setting with endless potential. Property is in need of significant repairs and updates-ideal for investors, builders, or buyers looking for a project. Seller financing available, making this a unique opportunity for the right buyer. Sold as-is.

18. 2026-03-10
    status Pending 373-char remark

    Show marketing remark (373 chars)

    Opportunity awaits on 5 beautiful wooded acres at the end of a quiet dead-end road. This 2-bedroom, 1-bath home offers a private setting with endless potential. Property is in need of significant repairs and updates-ideal for investors, builders, or buyers looking for a project. Seller financing available, making this a unique opportunity for the right buyer. Sold as-is.

19. 2026-02-16
    listed $170,000 Active 373-char remark

    Show marketing remark (373 chars)

    Opportunity awaits on 5 beautiful wooded acres at the end of a quiet dead-end road. This 2-bedroom, 1-bath home offers a private setting with endless potential. Property is in need of significant repairs and updates-ideal for investors, builders, or buyers looking for a project. Seller financing available, making this a unique opportunity 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.

Tax reassessment forecast IN · Partial reset (capped growth)

• Current annual tax: $2,074 · $173/mo
• Projected year-2 tax: $2,074 · $173/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 3/10 Moderate
• 🌡 Heat 2/10 Low 7 d/yr ≥101°F today · 15 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: $15,395
• − Mortgage interest: −$9,523
• − Property taxes: −$2,074
• − Insurance: −$850
• − Repairs & maintenance: −$1,232
• − Management: −$1,232
• − Depreciation: −$4,945
• Taxable loss: −$4,461
• Est. tax savings @ 24.0%: +$1,071
• After-tax cash flow: $-390/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

3 events — show timeline

• 2026-04-08 Relisted — NIRA MLS as Distributed by MLS Grid
• 2026-03-10 Pending — NIRA MLS as Distributed by MLS Grid
• 2026-02-16 Listed $170,000 NIRA MLS as Distributed by MLS Grid

Property tax history

+30.4%/yr

Latest (2024): $2,074 · +261.8% YoY. Source: county tax records.