406 W Church St · Burnettsville, IN 47926

$1

2 bd · 1.0 ba · 1,080 sqft · SingleFamily public records · 45 Days on market

Built 1950 0.40 ac lot $0/sqft · 100% below area ↓ 8% since listing

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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 +15.0/30.0
• ARV discount +7.5/15.0
• Appreciation +7.5/10.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Schools +3.6/10.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Adorable 2 bed, 2 bath home with oversized detached garage. So many opportunities to make this home a country-living dream. Owner’s suite, large kitchen, and beautiful country views. Roof is 5 years old.

Key facts

• 0.4 acre lot
• 2 garage spots
• Built 1950

Property features AI

Finance

• HOA & community: No association amenities

Exterior

• Parking: Detached garage with garage door opener; Gravel and off-street parking; 2 garage spaces
• Utilities: Private well water; Septic tank sewer
• Home design: Single-family site-built home; One story; Above-grade finished living area reported
• Construction: Vinyl siding; Shingle roof; Block foundation; Built as site-built construction
• Exterior features: Level, wooded lot; No fencing; Lot dimensions approximately 132 x 132; Approximately 0.4 acre lot

Interior

• Bedrooms: Total of 5 rooms (bedroom count not specified)
• Flooring: Carpet; Vinyl
• Bathrooms: 2 full bathrooms, both on the main level
• Heating & cooling: Natural gas forced air heating; Central air conditioning
• Interior features: One fireplace; Full, unfinished basement
• Laundry & utility: Washer hookup located on the lower level

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $1.

Deal economics

• At list price, monthly cash flow is $774 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($980 rent vs $1).

Location & tenants

• Location reads 61/100 on livability (#498 in IN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: crime D+, employment D, amenities F.
• Twin Lakes School Corporation (town): math 39% / reading 46% proficiency, ranked #116 of 301 in IN (top 38%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Meadowlawn Elementary School (math 36% / reading 37%, grade F, #571 of 994 statewide, top 58%, 567 students, 56% FRL); Roosevelt Middle School (math 38% / reading 47%, grade D-, #98 of 330 statewide, top 30%, 523 students, 67% FRL); Twin Lakes Senior High School (math 37% / reading 62%, grade D, #123 of 369 statewide, top 36%, 674 students, 59% FRL) — zoned schools average 60% FRL vs 41% district-wide (20 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 6 active listings in the ZIP; 47 units permitted in White County in 2024 (0 in 5+ unit buildings).

Forward outlook

• White County population projected at -19% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (5.1% appreciation + 3.0% rent growth), your $0 cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 45 days — a 3% lower offer ($0) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 3y 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 1950 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $1

Questions for the listing agent

1. It's been on market 45 days. Have you received any prior offers? Is the seller open to a 5% concession, seller financing, or rate buy-down credit?
2. Built in 1950 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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.
6. 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.
7. 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: 97998.00% ✓
• Cap rate: 929019.04%
• Cash-on-cash: 3317902.67%
• DSCR: 147629.00
• GRM: 0.0

CMA / ARV

• ARV (median comp): $141,549
• List price: $1
• Delta: -100.00%
• Verdict: UNDERPRICED
• Comps: 9 within 1.0 mi

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
110 W 2nd St	0.64mi	2/1.0	986 (-9%)	7mo	$99,500	$101	50
108 S Logan St	0.72mi	2/1.0	970 (-10%)	19mo	$94,500	$97	33

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

5.08% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 176153.80×
• Total profit: $49,323
• Equity at exit: $1

10-year hold

• IRR: —
• Equity multiple: 380363.89×
• Total profit: $106,502
• Equity at exit: $1

Cash invested: $0 (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 47926

• Home prices YoY: 2.4%
• Active inventory: 6

Monthly cashflow live

• Estimated rent: $980 medium
• Mortgage (P&I): −$0
• Tax est. 1.5%: −$0 /mo · $0/yr
• Insurance: −$0
• HOA: −$0
• Vacancy / Maint / Mgmt: −$206
• Net cashflow: $774

Break-even live

Break-even rent —

Max offer price $1

Occupancy floor 16%

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: $0
• Closing costs: $0
• Reserves months: —
• Total cash needed: —

Listing history 19 events

1. 2026-06-18
   days on market $1 Active 45 DOM
2. 2026-06-17
   days on market $1 Active 44 DOM
3. 2026-06-16
   days on market $1 Active 43 DOM
4. 2026-06-15
   days on market $1 Active 42 DOM
5. 2026-06-13
   days on market $1 Active 40 DOM
6. 2026-06-12
   days on market $1 Active 39 DOM
7. 2026-06-09
   days on market $1 Active 36 DOM
8. 2026-06-08
   days on market $1 Active 35 DOM
9. 2026-06-07
   days on market $1 Active 34 DOM
10. 2026-06-07
    days on market $1 Active 33 DOM
11. 2026-06-04
    days on market $1 Active 30 DOM
12. 2026-06-02
    days on market $1 Active 29 DOM
13. 2026-06-01
    days on market $1 Active 28 DOM
14. 2026-05-31
    days on market $1 Active 27 DOM
15. 2026-05-31
    days on market $1 Active 26 DOM
16. 2026-04-17
    listed $1 Active 310-char remark
17. 2023-09-13
    soldstatus $138,000 Closed 209-char remark

    Show marketing remark (209 chars)

    Adorable 2 bed, 2 bath home with oversized detached garage. So many opportunities to make this home a country-living dream. Owner’s suite, large kitchen, and beautiful country views. Roof is 5 years old.

18. 2023-08-24
    status Pending 209-char remark

    Show marketing remark (209 chars)

    Adorable 2 bed, 2 bath home with oversized detached garage. So many opportunities to make this home a country-living dream. Owner’s suite, large kitchen, and beautiful country views. Roof is 5 years old.

19. 2023-07-19
    listed $149,900 Active 209-char remark

    Show marketing remark (209 chars)

    Adorable 2 bed, 2 bath home with oversized detached garage. So many opportunities to make this home a country-living dream. Owner’s suite, large kitchen, and beautiful country views. Roof is 5 years old.

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

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 0% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $11,760
• − Mortgage interest: −$0
• − Property taxes: −$0
• − Insurance: −$0
• − Repairs & maintenance: −$941
• − Management: −$941
• − Depreciation: −$0
• Taxable income: $9,878
• Est. tax owed @ 24.0%: −$2,371
• After-tax cash flow: $6,919/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: Twin Lakes School Corporation
• NCES district ID: 1811580
• Math proficiency: 39% ▼ -10.00%
• Reading proficiency: 46% ▼ -5.00%
• Median HH income: $48,963
• Composite: 36.44/100
• National rank: #4666
• State rank: #116 of 301 in IN

Livability — Burnettsville

• Score: 61/100
• State rank: #498
• US rank: #17722

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Burnettsville, IN
• Population (ZIP): 916

Population outlook (White County) Hauer SSP2

• Today (2025): 23,006 people
• By 2030: 22,204 · -3.5%
• By 2040: 20,441 · -11.1%
• By 2050: 18,711 · -18.7%
• By 2075: 14,989 · -34.8%
• By 2100: 10,896 · -52.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (96%)
• Race & ethnicity: White 96% Hispanic / Latino 3% Two or more races 2%
• Common ancestry: Italian 3% Romanian 2% Slovak 2%

Political lean MEDSL · White

• 2024 margin: Solid R (+45.0) · D 26.4% · R 71.4% · Other 2.2%
• 2008→2024 swing: -36.7pp toward R · 2008: -8.3pp · 2024: -45.0pp
• All cycles: 2024: R+45.0 2020: R+44.1 2016: R+42.9 2012: R+23.6 2008: R+8.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 5.08%
• Current HPI: 219.708
• 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

-7.9% since first listed

4 events — show timeline

• 2026-04-17 Listed $1 IRMLS
• 2023-09-13 Sold (MLS) $138,000 IRMLS
• 2023-08-24 Pending — IRMLS
• 2023-07-19 Listed $149,900 IRMLS

Property tax history

+7.1%/yr

Latest (2024): $531 · +21.8% YoY. Source: county tax records.