406 W Church St

Burnettsville, IN 47926

$1C-

2 bd · 1.0 ba · 1,080 sqft · Built 1950 · SingleFamily · Active · 45 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $980/mo
• Mortgage (P&I): −$0
• Tax + insurance: −$0
• HOA: −$0
• Vac / Maint / Mgmt: −$206
• Net cashflow: $774/mo
• Annual: $9,290/yr
• Cap rate: 929019.04%
• Cash-on-cash: 3317902.67%
• DSCR: 147629.00
• 1% rule: 97998.00%
• Cash to close: $0

Investor read

• This is a 2-bed/1.0-bath single-family listed at $1.
• 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).
• It's been on market 45 days — a 3% lower offer ($0) is reasonable based on typical stale-listing flexibility.
• 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.
• Watch-outs: built in 1950 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 6 active listings in the ZIP; 47 units permitted in White County in 2024 (0 in 5+ unit buildings).
• White County population projected at -19% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 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.
• 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.

Questions for listing agent

• 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?
• Built in 1950 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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.
• 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.
• 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.