1016 N Walnut St · Brazil, IN 47834

$127,000

2 bd · 1.0 ba · 2,089 sqft · SingleFamily public records · 35 Days on market

Built 1900 7,841 sqft lot $61/sqft · 21% below area Est $161k · 21% under ↓ 14% since listing

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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 +15.0/15.0
• Cash flow +10.6/30.0
• Schools +4.0/10.0
• Livability +3.3/5.0
• DSCR +3.1/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +1.9/10.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to this delightful home, where original doors and arched doorways set the tone for a life of warmth and charm. The inviting enclosed screened front porch is an absolute haven, perfect for relaxing and unwinding. The main level offers 2 bedrooms, a full bath, a spacious living room, and a formal dining room, all perfectly proportioned for comfort and elegance. The step-saver kitchen shines with stainless steel appliances, a large pantry, and a bright breakfast nook. An enclosed back porch provides extra space to lounge. The upper level boasts 2 spacious bedrooms, plus an unfinished area full of possibilities. Downstairs, the basement features a practical washer and dryer area, along

Key facts

• Original doors
• Formal dining room
• Arched doorways

Tags

• ORIGINAL DOORS
• ARCHED DOORWAYS
• ENCLOSED SCREENED FRONT PORCH
• SPACIOUS LIVING ROOM
• FORMAL DINING ROOM
• STEP-SAVER KITCHEN

Property features AI

Exterior

• Parking: Detached gravel garage (1 car)
• Security: Smoke detectors
• Utilities: Public sewer
• Home design: Single family residence; 1 story
• Construction: Vinyl siding; Shingle roof
• Exterior features: Porch (screened)

Interior

• Kitchen: Electric range; Electric oven; Microwave; Refrigerator; Freezer
• Flooring: Carpet; Hardwood
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating (natural gas); Central air; Ceiling fans
• Interior features: Window coverings; Insulated windows; Fireplace (1)
• Laundry & utility: Washer; Dryer; Partial unfinished basement

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $127k.

Deal economics

• At list price, monthly cash flow is $-62 ($-743/yr) — negative.
• To cash-flow at today's rent, offer at most $116k (8.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $88k (31.1% below list).
• Recommended offer: $88k (31.1% below list) — sets the bar for 1% rule.
• Cap rate 5.7% vs local median 2.6% in Brazil — 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 66/100 on livability (#308 in IN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: crime F, amenities F, commute F.
• Clay Community Schools (rural): math 46% / reading 49% proficiency, ranked #79 of 301 in IN (top 26%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 95 active listings in the ZIP; 70 units permitted in Clay County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $878 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Clay County population projected at -16% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 35 days — a 3% lower offer ($123k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $87,533 (31.1% 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 35 days. Have you received any prior offers? Is the seller open to a 31% concession, seller financing, or rate buy-down credit?
3. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
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: 0.69% ✗
• Cap rate: 5.71%
• Cash-on-cash: -2.09%
• DSCR: 0.91
• GRM: 12.1

CMA / ARV

• ARV (median comp): $161,324
• List price: $127,000
• Delta: -21.28%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
16 W Park St	0.05mi	3/2.0 (+1)	1,952 (-7%)	5mo	$157,500	$81	73
1403 N Walnut St	0.29mi	3/2.0 (+1)	1,984 (-5%)	0mo	$270,000	$136	69
921 N Meridian St St	0.07mi	3/2.0 (+1)	1,923 (-8%)	7mo	$182,000	$95	68
807 N Alabama Street St	0.39mi	3/2.0 (+1)	2,010 (-4%)	1mo	$229,900	$114	66
407 E Jackson St	0.63mi	2/1.0	2,016 (-4%)	5mo	$120,000	$60	60
11 Dr Daniel Biggs St	0.44mi	3/1.5 (+1)	1,992 (-5%)	7mo	$155,000	$78	59
334 E Vermont St	0.26mi	3/1.0 (+1)	1,810 (-13%)	10mo	$115,000	$64	52
617 N Meridian St	0.26mi	3/2.5 (+1)	1,792 (-14%)	2mo	$285,000	$159	51
10325 N Meridian St Rd	0.63mi	3/1.5 (+1)	2,020 (-3%)	11mo	$279,000	$138	49
623 N Harrison St	0.46mi	3/1.0 (+1)	1,786 (-14%)	10mo	$62,000	$35	41
804 E Hendrix St	0.54mi	3/1.0 (+1)	1,830 (-12%)	11mo	$130,000	$71	40
3342 W State Road 340	0.55mi	3/1.0 (+1)	1,858 (-11%)	21mo	$166,750	$90	34

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: -19.8%
• Equity multiple: 0.31×
• Total profit: $-24,588
• Equity at exit: $18,936

10-year hold

• IRR: -12.8%
• Equity multiple: 0.25×
• Total profit: $-26,749
• Equity at exit: $10,981

Cash invested: $35,560 (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 47834

• Home prices YoY: -20.8%
• Active inventory: 95
• Price-to-rent: 12.1×

Monthly cashflow live

• Estimated rent: $875 medium
• Mortgage (P&I): −$666
• Tax from tax record: −$35 /mo · $415/yr
• Insurance: −$53
• HOA: −$0
• Vacancy / Maint / Mgmt: −$184
• Net cashflow: $-62

Break-even live

Break-even rent $954

Max offer price $116,055

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: $31,750
• Closing costs: $3,810
• Reserves months: —
• Total cash needed: —

Listing history 10 events

1. 2026-06-09
   status $127,000 Pending 35 DOM
2. 2026-06-08
   days on market $127,000 Active 35 DOM
3. 2026-06-07
   days on market $127,000 Active 34 DOM
4. 2026-06-05
   days on market $127,000 Active 31 DOM
5. 2026-06-02
   days on market $127,000 Active 29 DOM
6. 2026-06-01
   days on market $127,000 Active 28 DOM
7. 2026-05-31
   days on market $127,000 Active 27 DOM
8. 2026-05-30
   days on market $127,000 Active 26 DOM
9. 2026-05-08
   price $137,000 801-char remark
10. 2026-05-04
    listed $147,000 Active 801-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: $415 · $35/mo
• Projected year-2 tax: $747 · $62/mo
• Expected delta: +$332/yr (+$28/mo · 80.2%)

ⓘ 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 4/10 Moderate 7 d/yr ≥104°F today · 19 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $10,504
• − Mortgage interest: −$7,114
• − Property taxes: −$415
• − Insurance: −$635
• − Repairs & maintenance: −$840
• − Management: −$840
• − Depreciation: −$3,695
• Taxable loss: −$3,035
• Est. tax savings @ 24.0%: +$728
• After-tax cash flow: $-15/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: Clay Community Schools
• NCES district ID: 1800840
• Math proficiency: 46% ▼ -6.00%
• Reading proficiency: 49% ▼ -1.00%
• Median HH income: $46,673
• Composite: 40.39/100
• National rank: #3733
• State rank: #79 of 301 in IN

Livability — Brazil

• Score: 66/100
• State rank: #308
• US rank: #12163

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Brazil, IN
• City population: 18,773
• Population (ZIP): 18,773

Population outlook (Clay County) Hauer SSP2

• Today (2025): 25,820 people
• By 2030: 25,182 · -2.5%
• By 2040: 23,562 · -8.7%
• By 2050: 21,829 · -15.5%
• By 2075: 17,939 · -30.5%
• By 2100: 14,042 · -45.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (94%)
• Race & ethnicity: White 94% Two or more races 4% Hispanic / Latino 2%
• Common ancestry: Slovak 1% Iranian 1% Italian 1%
• Foreign-born: 1% · Canada, Jamaica
• Languages at home: 99% English-only · Spanish 1%

Political lean MEDSL · Clay

• 2024 margin: Solid R (+56.9) · D 20.7% · R 77.6% · Other 1.7%
• 2008→2024 swing: -45.4pp toward R · 2008: -11.5pp · 2024: -56.9pp
• All cycles: 2024: R+56.9 2020: R+56.6 2016: R+55.3 2012: R+31.4 2008: R+11.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -58.68%
• Current HPI: 223.6707
• 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

-13.6% since first listed

4 events — show timeline

• 2026-06-08 Pending — THAAR
• 2026-05-21 Price Changed $127,000 THAAR
• 2026-05-08 Price Changed $137,000 THAAR
• 2026-05-04 Listed $147,000 THAAR

Property tax history

+2.5%/yr

Latest (2024): $415 · +63.3% YoY. Source: county tax records.