110 W 6th St · Peru, IN 46970

$75,000

4 bd · 2.5 ba · 2,503 sqft · SingleFamily public records · 150 Days on market

Built 1954 8,712 sqft lot ↓ 25% since listing

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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 +3.9/5.0
• Schools +3.0/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

MOTIVATED SELLER! 5-bedroom, 1.5-bath property with prominent features, including a substantial layout, fireplace, winding staircase, private upper-level suite configuration, and updated siding and windows. Sold AS-IS and requiring full rehabilitation, cash only. Ideal for investors and contractors seeking a project with potential.

Key facts

• Winding staircase
• 8,712 sq ft lot
• Built 1954

Tags

• LIVING ROOM WITH FIREPLACE
• WINDING STAIRCASE
• KITCHEN WITH BASEMENT ACCESS
• SLIDING GLASS DOOR TO DECK
• PRIVATE SUITE WITH BATH
• SEPARATE REAR STAIRCASE ACCESS

Property features AI

Exterior

• Utilities: Public water; Public sewer
• Home design: Single-family residence (site-built); 2 stories
• Construction: Vinyl siding; Block foundation; Asphalt roof
• Exterior features: Level lot; Lot dimensions approximately 66 x 132 (0.2 acres); R1 zoning

Interior

• Bathrooms: 1 full bathroom; 1 half bathroom; One main-level bathroom
• Heating & cooling: Forced air heating; No central cooling
• Interior features: Living room fireplace (1); Full, unfinished basement with crawl space
• Laundry & utility: Laundry on the main level

What this means for you Summary

Snapshot

• This is a 4-bed/2.5-bath single-family listed at $75k.

Deal economics

• At list price, monthly cash flow is $497 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $75k).
• Recommended offer: $66k (12.0% below list) — sets the bar for market timing.
• Cap rate 14.3% vs local median 6.1% in Peru — 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 77/100 on livability (#35 in IN, #2,834 nationally) — a middle-class / working-renter tenant base. Strengths: amenities A+, cost of living A+, housing A+; Watch: crime D+, commute F, employment F.
• Peru Community Schools (town): math 31% / reading 42% proficiency, ranked #192 of 301 in IN (top 64%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Blair Pointe Upper Elementary (math 34% / reading 38%, grade F, #577 of 994 statewide, top 59%, 552 students, 63% FRL); Peru Jr/Sr High School (math 27% / reading 57%, grade F, #197 of 369 statewide, top 57%, 883 students, 59% FRL).
• Market conditions: 129 active listings in the ZIP; 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 $519 of loan paydown is wiped out by about $2k 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 $21k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 150 days — a 12% lower offer ($66k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: property tax is 3.1% of price; built in 1954 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $66,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 150 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1954 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. Crime grade is D 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?
8. 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.
9. 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.
10. 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: 1.88% ✓
• Cap rate: 14.25%
• Cash-on-cash: 28.42%
• DSCR: 2.26
• GRM: 4.4

CMA / ARV

• ARV (on-the-fly): $210,252
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
69 W 5 th St	0.12mi	3/2.0 (-1)	2,450 (-2%)	1mo	$212,000	$87	83
226 W 3rd St	0.30mi	4/2.0	2,320 (-7%)	1mo	$131,300	$57	71
236 W 6th St	0.24mi	4/2.0	2,276 (-9%)	2mo	$221,900	$97	70
222 E 3rd St	0.67mi	4/2.5	2,500 (-0%)	1mo	$248,875	$100	68
429 W 7th St	0.62mi	4/2.5	2,408 (-4%)	1mo	$195,000	$81	64
357 W Main St	0.48mi	4/2.0	2,376 (-5%)	4mo	$165,000	$69	64
233 W 6th St	0.24mi	4/2.5	2,214 (-12%)	8mo	$197,000	$89	63
30 E Warren St	0.65mi	3/1.5 (-1)	2,584 (+3%)	4mo	$120,000	$46	52
178 E Main St	0.57mi	5/3.0 (+1)	2,680 (+7%)	6mo	$225,000	$84	50
103 E Riverside Dr	0.63mi	4/2.0	2,142 (-14%)	1mo	$50,000	$23	43
33 Delores Ave	0.58mi	5/3.0 (+1)	2,200 (-12%)	3mo	$225,000	$102	43
234 E 6th St	0.65mi	4/2.5	2,137 (-15%)	8mo	$169,900	$80	39

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: 22.7%
• Equity multiple: 1.93×
• Total profit: $19,607
• Equity at exit: $11,183

10-year hold

• IRR: 30.8%
• Equity multiple: 3.77×
• Total profit: $58,200
• Equity at exit: $6,485

Cash invested: $21,000 (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: 4.4×

Monthly cashflow live

• Estimated rent: $1,413 medium
• Mortgage (P&I): −$393
• Tax from tax record: −$194 /mo · $2,334/yr
• Insurance: −$31
• HOA: −$0
• Vacancy / Maint / Mgmt: −$297
• Net cashflow: $497

Break-even live

Break-even rent $784

Max offer price $75,000

Occupancy floor 60%

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: $18,750
• Closing costs: $2,250
• Reserves months: —
• Total cash needed: —

Listing history 18 events

1. 2026-06-12
   statusdays on market $75,000 Pending 150 DOM
2. 2026-06-09
   days on market $75,000 Active Under Contract 148 DOM
3. 2026-06-08
   days on market $75,000 Active Under Contract 147 DOM
4. 2026-06-07
   days on market $75,000 Active Under Contract 146 DOM
5. 2026-06-07
   days on market $75,000 Active Under Contract 145 DOM
6. 2026-06-03
   days on market $75,000 Active Under Contract 142 DOM
7. 2026-06-02
   days on market $75,000 Active Under Contract 141 DOM
8. 2026-06-01
   days on market $75,000 Active Under Contract 140 DOM
9. 2026-05-31
   days on market $75,000 Active Under Contract 139 DOM
10. 2026-05-31
    days on market $75,000 Active Under Contract 138 DOM
11. 2026-05-01
    historical Active Under Contract
12. 2026-04-24
    price $75,000
13. 2026-04-19
    price $80,000
14. 2026-03-21
    price $85,000
15. 2026-03-05
    price $90,000
16. 2026-02-09
    price $92,000
17. 2026-01-22
    price $95,000
18. 2026-01-13
    listed $100,000 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: $2,334 · $194/mo
• Projected year-2 tax: $2,334 · $194/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 3/10 Moderate 7 d/yr ≥102°F today · 17 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: $16,958
• − Mortgage interest: −$4,201
• − Property taxes: −$2,334
• − Insurance: −$375
• − Repairs & maintenance: −$1,357
• − Management: −$1,357
• − Depreciation: −$2,182
• Taxable income: $5,153
• Est. tax owed @ 24.0%: −$1,237
• After-tax cash flow: $4,732/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: Peru Community Schools
• NCES district ID: 1808850
• Math proficiency: 31% ▼ -9.00%
• Reading proficiency: 42% ▼ -2.00%
• Median HH income: $35,624
• Composite: 30.18/100
• National rank: #6316
• State rank: #192 of 301 in IN

Livability — Peru

• Score: 77/100
• State rank: #35
• US rank: #2834

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Peru, IN
• County: Miami County · 23,020 people
• City population: 23,020
• 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

-25.0% since first listed

8 events — show timeline

• 2026-05-01 Contingent — IRMLS
• 2026-04-24 Price Changed $75,000 IRMLS
• 2026-04-19 Price Changed $80,000 IRMLS
• 2026-03-21 Price Changed $85,000 IRMLS
• 2026-03-05 Price Changed $90,000 IRMLS
• 2026-02-09 Price Changed $92,000 IRMLS
• 2026-01-22 Price Changed $95,000 IRMLS
• 2026-01-13 Listed $100,000 IRMLS

Property tax history

-3.8%/yr

Latest (2024): $2,334 · +1.1% YoY. Source: county tax records.