409 N Sycamore Street St · Lagrange, IN 46761

$80,000

3 bd · 1.0 ba · 640 sqft · SingleFamily public records · 28 Days on market

Built 1930 8,930 sqft lot $125/sqft · 8% below area

---

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
• DSCR +10.0/10.0
• 1% rule +7.8/10.0
• ARV discount +7.5/15.0
• Livability +3.7/5.0
• Schools +2.6/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Huge back yard. 2 bedroom, 1 bath with a basement and garage. Come and make this home your own. Home is in need of some TLC. Property being sold AS-IS. Property is in an Estate. The light on the landing and all appliances are reserved to the seller.

Key facts

• Back yard
• Garage
• Basement

Tags

• BACK YARD
• BASEMENT
• GARAGE

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $80k.

Deal economics

• At list price, monthly cash flow is $338 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $80k).
• Recommended offer: $79k (1.5% below list) — sets the bar for market timing.

Location & tenants

• Location reads 74/100 on livability (#72 in IN, #4,583 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: employment D+, schools D, amenities F.
• Lakeland School Corporation (rural): math 25% / reading 34% proficiency, ranked #243 of 301 in IN (top 81%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 30 active listings in the ZIP; 134 units permitted in LaGrange County in 2024 (0 in 5+ unit buildings).
• This rent is only 17% of the median local income ($72k/yr) — well below the 30% rent-burden line; pricing power to push rent on renewal without tenant pushback.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $553 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $22k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 28 days — a 2% lower offer ($79k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 12y ago 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 1930 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $78,800 (1.5% below list)

Questions for the listing agent

1. Built in 1930 — 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 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?
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: 1.28% ✓
• Cap rate: 11.36%
• Cash-on-cash: 18.10%
• DSCR: 1.81
• GRM: 6.5

CMA / ARV

• ARV (median comp): $173,632
• List price: $80,000
• Delta: -53.93%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 9.7%
• Equity multiple: 1.38×
• Total profit: $8,523
• Equity at exit: $11,928

10-year hold

• IRR: 18.8%
• Equity multiple: 2.56×
• Total profit: $34,990
• Equity at exit: $6,917

Cash invested: $22,400 (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 46761

• Home prices YoY: -20.3%
• Active inventory: 30
• Price-to-rent: 6.5×

Monthly cashflow live

• Estimated rent: $1,022 medium
• Mortgage (P&I): −$420
• Tax from tax record: −$16 /mo · $195/yr
• Insurance: −$33
• HOA: −$0
• Vacancy / Maint / Mgmt: −$215
• Net cashflow: $338

Break-even live

Break-even rent $594

Max offer price $80,000

Occupancy floor 62%

Sensitivity live

Price	-10% $383	-5% $361	+0% $338	+5% $315	+10% $293
Rent	-10% $257	-5% $298	+0% $338	+5% $378	+10% $419
Rate	-1.0pp $378	-0.5pp $358	base $338	+0.5pp $317	+1.0pp $296

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: $20,000
• Closing costs: $2,400
• Reserves months: —
• Total cash needed: —

Listing history 3 events

1. 2026-05-11
   status Pending 249-char remark

   Show marketing remark (249 chars)

   Huge back yard. 2 bedroom, 1 bath with a basement and garage. Come and make this home your own. Home is in need of some TLC. Property being sold AS-IS. Property is in an Estate. The light on the landing and all appliances are reserved to the seller.

2. 2026-04-13
   listed $80,000 Active 249-char remark

   Show marketing remark (249 chars)

   Huge back yard. 2 bedroom, 1 bath with a basement and garage. Come and make this home your own. Home is in need of some TLC. Property being sold AS-IS. Property is in an Estate. The light on the landing and all appliances are reserved to the seller.

3. 2014-08-05
   listed $19,900

ⓘ 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: $195 · $16/mo
• Projected year-2 tax: $438 · $36/mo
• Expected delta: +$242/yr (+$20/mo · 124.3%)

ⓘ 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 ≥98°F today · 16 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $12,259
• − Mortgage interest: −$4,481
• − Property taxes: −$195
• − Insurance: −$400
• − Repairs & maintenance: −$981
• − Management: −$981
• − Depreciation: −$2,327
• Taxable income: $2,894
• Est. tax owed @ 24.0%: −$695
• After-tax cash flow: $3,361/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: Lakeland School Corporation
• NCES district ID: 1805520
• Math proficiency: 25% ▼ -16.00%
• Reading proficiency: 34% ▼ -6.00%
• Median HH income: $48,394
• Composite: 25.6/100
• National rank: #7417
• State rank: #243 of 301 in IN

Livability — Lagrange

• Score: 74/100
• State rank: #72
• US rank: #4583

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Lagrange, IN
• County: LaGrange · 11,985 people
• Population (ZIP): 11,985
• Household income: $72,088
• Rent vs Own: 20.4% rent · 79.6% own
• Severe rent burden: 6.1

Population outlook (LaGrange County) Hauer SSP2

• Today (2025): 39,718 people
• By 2030: 40,060 · +0.9%
• By 2040: 40,333 · +1.5%
• By 2050: 39,284 · -1.1%
• By 2075: 32,100 · -19.2%
• By 2100: 21,407 · -46.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (91%)
• Race & ethnicity: White 91% Hispanic / Latino 8% Two or more races 6%
• Hispanic origin (detail): Mexican 8%
• Common ancestry: Italian 7% Polish 6% Iranian 2%
• Foreign-born: 4% · Canada
• Languages at home: 56% English-only · German/W. Germanic 37% Spanish 7%

Political lean MEDSL · LaGrange

• 2024 margin: Solid R (+56.8) · D 20.8% · R 77.6% · Other 1.7%
• 2008→2024 swing: -35.3pp toward R · 2008: -21.5pp · 2024: -56.8pp
• All cycles: 2024: R+56.8 2020: R+54.1 2016: R+51.8 2012: R+35.8 2008: R+21.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -58.86%
• Current HPI: 231.4785
• 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

+302.0% since first listed

3 events — show timeline

• 2026-05-11 Pending — IRMLS
• 2026-04-13 Listed $80,000 IRMLS
• 2014-08-05 Listed $19,900 IRMLS

Property tax history

-4.5%/yr

Latest (2024): $195 · -47.9% YoY. Source: county tax records.