1271 Chanute St · Grissom AFB, IN 46970

$89,900

3 bd · 1.0 ba · 1,025 sqft · SingleFamily public records · 46 Days on market

Built 1958 7,722 sqft lot $88/sqft · 59% above area $65/mo HOA · 6% of rent

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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 +27.5/30.0
• DSCR +9.6/10.0
• ARV discount +7.5/15.0
• 1% rule +7.2/10.0
• 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

Back on the market, through no fault of the seller! Ready to move into 3 bedroom, 1 bath with attached garage. Fresh paint, new roof. Adjoining property is also for sale. Buy one or both! HOA fees are $65 per month, includes mowing, trash pickup, workout room and pool.

Key facts

• $65 HOA
• Garage
• Community pool

Property features AI

Finance

• HOA & community: Homeowners association with monthly fee of $65; Community amenities: fitness center, pool

Exterior

• Parking: Attached garage (1 vehicle)
• Utilities: Public water; Public sewer
• Home design: Residential condominium; Condo/Villa; Single-story
• Construction: Vinyl siding; Shingle roof
• Exterior features: Level lot; No fencing; Sidewalks in community; Community pool

Interior

• Kitchen: Refrigerator; Electric range
• Bedrooms: 5 total rooms (bedroom count not specified)
• Flooring: Carpet; Tile
• Bathrooms: 1 full bathroom
• Heating & cooling: Natural gas forced-air heating; Central air conditioning
• Interior features: Refrigerator; Electric range; Gas water heater; Water heater; One fireplace
• Laundry & utility: Laundry on main level

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $90k.

Deal economics

• At list price, monthly cash flow is $265 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $90k).
• Recommended offer: $87k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 65/100 on livability (#359 in IN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A; Watch: amenities F, commute F, health & safety D-.
• Maconaquah School Corporation (rural): math 25% / reading 40% proficiency, ranked #213 of 301 in IN (top 71%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Maconaquah Middle School (math 14% / reading 36%, grade F, #247 of 330 statewide, top 76%, 435 students, 63% FRL); Maconaquah High School (math 37% / reading 72%, grade C-, #79 of 369 statewide, top 26%, 594 students, 52% FRL).
• Market conditions: 129 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; 35 units permitted in Miami County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $622 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Miami County population projected at -12% 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 $25k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 46 days — a 3% lower offer ($87k) 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.

Risks & watch-outs

• Watch-outs: built in 1958 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $87,203 (3.0% below list)

Questions for the listing agent

1. It's been on market 46 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1958 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
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. 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: 1.22% ✓
• Cap rate: 9.84%
• Cash-on-cash: 12.65%
• DSCR: 1.56
• GRM: 6.8

CMA / ARV

• ARV (median comp): $56,715
• List price: $89,900
• Delta: 58.51%
• Verdict: OVERPRICED
• Comps: 5 within 1.0 mi

Show comp detail 9 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1129 Barksdale Ave	0.26mi	3/1.0	1,025 (0%)	1mo	$33,500	$33	87
1933 George Ave	0.19mi	3/1.0	1,025 (0%)	10mo	$28,000	$27	83
1520 Forbes Ave	0.29mi	2/1.0 (-1)	1,025 (0%)	15mo	$100,000	$98	69
2942 Travis St	0.21mi	3/1.0	1,160 (+13%)	3mo	$120,000	$103	66
1013 Donaldson St	0.31mi	2/1.0 (-1)	1,026 (+0%)	18mo	$72,900	$71	65
5534 S 400 West	0.62mi	3/1.0	1,000 (-2%)	9mo	$188,000	$188	60
2804 Castle Ct	0.41mi	3/2.0	1,160 (+13%)	3mo	$120,000	$103	52
41026 Gunter Ct	0.53mi	2/1.0 (-1)	1,059 (+3%)	17mo	$60,000	$57	51
2810 Castle Ct	0.38mi	3/1.5	1,130 (+10%)	20mo	$110,900	$98	46

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: 2.4%
• Equity multiple: 1.09×
• Total profit: $2,341
• Equity at exit: $13,404

10-year hold

• IRR: 12.0%
• Equity multiple: 1.95×
• Total profit: $23,818
• Equity at exit: $7,773

Cash invested: $25,172 (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 46970

• Home prices YoY: -8.8%
• Active inventory: 129
• Price-to-rent: 6.8×

Monthly cashflow live

• Estimated rent: $1,094 high
• Mortgage (P&I): −$471
• Tax from tax record: −$25 /mo · $303/yr
• Insurance: −$37
• HOA: −$65
• Vacancy / Maint / Mgmt: −$230
• Net cashflow: $265

Break-even live

Break-even rent $758

Max offer price $89,900

Occupancy floor 71%

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: $22,475
• Closing costs: $2,697
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1029 N Lincoln St Peru, IN	3.0	1.0	941	$1,000	$1.06	43d	1	0.27mi
2909 Travis St Peru, IN	3.0	1.5	1148	$1,125	$0.98	43d	1	0.33mi
1005 N Lincoln St Peru, IN	2.0	1.0	834	$855	$1.03	43d	1	0.36mi
1703 S Lincoln St Peru, IN	3.0	2.0	1201	$1,100	$0.92	43d	1	0.46mi
39023 Edwards Ct Peru, IN	4.0	2.5	1334	$1,230	$0.92	43d	1	0.59mi
36013 Beale Ct Peru, IN	3.0	1.5	1080	$1,050	$0.97	43d	1	0.66mi

HOA detail

• Monthly dues: $65 · $780/yr
• Likely covers: trashpool

Listing history 19 events

1. 2026-06-19
   days on market $89,900 Active 46 DOM
2. 2026-06-18
   days on market $89,900 Active 45 DOM
3. 2026-06-17
   days on market $89,900 Active 44 DOM
4. 2026-06-16
   days on market $89,900 Active 43 DOM
5. 2026-06-15
   days on market $89,900 Active 42 DOM
6. 2026-06-14
   days on market $89,900 Active 40 DOM
7. 2026-06-13
   remarks 271-char remark
8. 2026-06-13
   statusdays on market $89,900 Active 39 DOM
9. 2026-06-10
   days on market $89,900 Active Under Contract 37 DOM
10. 2026-06-09
    days on market $89,900 Active Under Contract 36 DOM
11. 2026-06-08
    days on market $89,900 Active Under Contract 35 DOM
12. 2026-06-07
    days on market $89,900 Active Under Contract 34 DOM
13. 2026-06-05
    days on market $89,900 Active Under Contract 31 DOM
14. 2026-06-02
    days on market $89,900 Active Under Contract 29 DOM
15. 2026-06-01
    days on market $89,900 Active Under Contract 28 DOM
16. 2026-05-31
    days on market $89,900 Active Under Contract 27 DOM
17. 2026-05-30
    days on market $89,900 Active Under Contract 26 DOM
18. 2026-05-15
    historical Active Under Contract 219-char remark
19. 2026-05-04
    listed $89,900 Active 219-char remark

ⓘ 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: $303 · $25/mo
• Projected year-2 tax: $533 · $44/mo
• Expected delta: +$231/yr (+$19/mo · 76.2%)

ⓘ 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 3/10 Moderate 7 d/yr ≥101°F today · 17 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: $13,133
• − Mortgage interest: −$5,036
• − Property taxes: −$303
• − Insurance: −$450
• − Repairs & maintenance: −$1,051
• − Management: −$1,051
• − HOA: −$780
• − Depreciation: −$2,615
• Taxable income: $1,848
• Est. tax owed @ 24.0%: −$444
• After-tax cash flow: $2,742/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: Maconaquah School Corporation
• NCES district ID: 1806090
• Math proficiency: 25% ▼ -12.00%
• Reading proficiency: 40% ▼ -6.00%
• Median HH income: $47,296
• Composite: 27.96/100
• National rank: #6859
• State rank: #213 of 301 in IN

Livability — Grissom AFB

• Score: 65/100
• State rank: #359
• US rank: #13555

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Grissom AFB, IN
• County: Miami County · 23,020 people
• Metro: Peru, IN
• Population (ZIP): 23,020
• Household income: $57,842
• Rent vs Own: 28.5% rent · 71.5% own
• Severe rent burden: 498.0

Population outlook (Miami County) Hauer SSP2

• Today (2025): 34,421 people
• By 2030: 33,571 · -2.5%
• By 2040: 31,919 · -7.3%
• By 2050: 30,313 · -11.9%
• By 2075: 26,202 · -23.9%
• By 2100: 20,856 · -39.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (87%)
• Race & ethnicity: White 87% Two or more races 6% Hispanic / Latino 4% Black 3%
• Common ancestry: Iranian 2% Romanian 2% Slovak 2%
• Foreign-born: 1% · Canada
• Languages at home: 97% English-only · Spanish 2% German/W. Germanic 0%

Political lean MEDSL · Miami

• 2024 margin: Solid R (+54.5) · D 21.8% · R 76.3% · Other 1.9%
• 2008→2024 swing: -35.1pp toward R · 2008: -19.5pp · 2024: -54.5pp
• All cycles: 2024: R+54.5 2020: R+53.1 2016: R+53.6 2012: R+30.9 2008: R+19.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -24.29%
• Current HPI: 252.7166
• Rent YoY: —
• Metro: Peru, 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

3 events — show timeline

• 2026-06-12 Relisted — IRMLS
• 2026-05-15 Contingent — IRMLS
• 2026-05-04 Listed $89,900 IRMLS

Property tax history

+0.3%/yr

Latest (2024): $303 · +44.1% YoY. Source: county tax records.