412 E Main St · Van Buren, IN 47348

$89,900

5 bd · 2.0 ba · 1,908 sqft · Other · 24 Days on market

Built 1949 Poor condition

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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
• Schools +3.8/10.0
• Livability +3.0/5.0
• Rent growth +2.5/5.0
• Condition / age +1.0/5.0
• Appreciation +0.0/10.0

Listing remarks

1.5 story home, 5 bedrooms, 1.5 baths, family room with fireplace, detached 2 car garage, large eat-in kitchen. Home needs lots of TLC and some repairs.

Key facts

• Built 1949
• Listed 23 days

What this means for you Summary

Snapshot

• This is a 5-bed/2.0-bath other listed at $90k. Condition is rated poor.

Deal economics

• At list price, monthly cash flow is $446 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $90k).
• Recommended offer: $89k (1.5% below list) — sets the bar for market timing.

Location & tenants

• Location reads 60/100 on livability (#529 in IN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A-; Watch: health & safety C-, crime D, schools D-.
• Eastbrook Community School Corporation (rural): math 42% / reading 46% proficiency, ranked #98 of 301 in IN (top 33%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 55 active listings in the ZIP; 52 units permitted in Grant County in 2024 (8 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $622 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Grant County population projected at -18% 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 $25k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 24 days — a 2% lower offer ($89k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1949 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $88,551 (1.5% below list)

Questions for the listing agent

1. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
2. Built in 1949 — 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. 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?
5. 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?
6. 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.
7. 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.
8. 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: 1.50% ✓
• Cap rate: 12.25%
• Cash-on-cash: 21.28%
• DSCR: 1.95
• GRM: 5.5

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 13.8%
• Equity multiple: 1.55×
• Total profit: $13,880
• Equity at exit: $13,404

10-year hold

• IRR: 22.6%
• Equity multiple: 2.94×
• Total profit: $48,774
• Equity at exit: $7,773

Cash invested: $25,172 (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 47348

• Home prices YoY: -17.5%
• Active inventory: 55
• Price-to-rent: 5.5×

Monthly cashflow live

• Estimated rent: $1,351 medium
• Mortgage (P&I): −$471
• Tax est. 1.5%: −$112 /mo · $1,348/yr
• Insurance: −$37
• HOA: −$0
• Vacancy / Maint / Mgmt: −$284
• Net cashflow: $446

Break-even live

Break-even rent $786

Max offer price $89,900

Occupancy floor 62%

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: $22,475
• Closing costs: $2,697
• Reserves months: —
• Total cash needed: —

Listing history 17 events

1. 2026-06-19
   days on market $89,900 Active 24 DOM
2. 2026-06-18
   days on market $89,900 Active 23 DOM
3. 2026-06-17
   days on market $89,900 Active 22 DOM
4. 2026-06-16
   days on market $89,900 Active 21 DOM
5. 2026-06-15
   days on market $89,900 Active 20 DOM
6. 2026-06-14
   days on market $89,900 Active 18 DOM
7. 2026-06-12
   days on market $89,900 Active 17 DOM
8. 2026-06-09
   days on market $89,900 Active 14 DOM
9. 2026-06-08
   days on market $89,900 Active 13 DOM
10. 2026-06-07
    days on market $89,900 Active 12 DOM
11. 2026-06-05
    days on market $89,900 Active 9 DOM
12. 2026-06-03
    days on market $89,900 Active 8 DOM
13. 2026-06-02
    days on market $89,900 Active 7 DOM
14. 2026-06-01
    days on market $89,900 Active 6 DOM
15. 2026-05-31
    days on market $89,900 Active 5 DOM
16. 2026-05-30
    days on market $89,900 Active 4 DOM
17. 2026-05-26
    listed $89,900 Active

ⓘ 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 ≥100°F today · 18 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $16,217
• − Mortgage interest: −$5,036
• − Property taxes: −$1,348
• − Insurance: −$450
• − Repairs & maintenance: −$1,297
• − Management: −$1,297
• − Depreciation: −$2,615
• Taxable income: $4,173
• Est. tax owed @ 24.0%: −$1,002
• After-tax cash flow: $4,354/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.

Condition & rehab AI · 2 photos

Poor 20/100 Extensive rehab

This 1.5 story home requires extensive repairs and updates, including major work on the exterior, landscaping, and painting. Significant improvements in these areas would greatly increase its resale and rental value.

Repairs flagged

• Major siding — Significant wear and tear
• Major landscaping — Overgrown lawn and lack of landscaping
• Major exterior paint — Weathered siding

Value-add opportunities

• Both landscaping — Improves curb appeal and property value
• Both paint exterior — Enhances curb appeal and property value
• Both repair and paint siding — Improves property value and enhances curb appeal

Renovation cost estimate screening

Repair item	Severity	Est. cost
siding · Significant wear and tear	Major	$15,000–50,000
landscaping · Overgrown lawn and lack of landscaping	Major	$15,000–50,000
exterior paint · Weathered siding	Major	$15,000–50,000
Total estimated repair cost · 3 items		$45,000–150,000

Value-add ROI direction

• Both landscaping — Improves curb appeal and property value ↑
• Both paint exterior — Enhances curb appeal and property value ↑
• Both repair and paint siding — Improves property value and enhances curb appeal ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Eastbrook Community School Corporation
• NCES district ID: 1803030
• Math proficiency: 42% ▬ 0.00%
• Reading proficiency: 46% ▼ -1.00%
• Median HH income: $55,030
• Composite: 38.28/100
• National rank: #4234
• State rank: #98 of 301 in IN

Livability — Van Buren

• Score: 60/100
• State rank: #529
• US rank: #19010

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Van Buren, IN
• Population (ZIP): 8,986

Population outlook (Grant County) Hauer SSP2

• Today (2025): 64,394 people
• By 2030: 62,145 · -3.5%
• By 2040: 57,252 · -11.1%
• By 2050: 52,968 · -17.7%
• By 2075: 45,986 · -28.6%
• By 2100: 39,400 · -38.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (96%)
• Race & ethnicity: White 96% Two or more races 3% Hispanic / Latino 2%
• Common ancestry: Slovak 3% Lithuanian 3% Scotch-Irish 1%
• Foreign-born: 1% · Canada
• Languages at home: 98% English-only · Spanish 1%

Political lean MEDSL · Grant

• 2024 margin: Solid R (+41.8) · D 28.2% · R 70.0% · Other 1.9%
• 2008→2024 swing: -28.7pp toward R · 2008: -13.1pp · 2024: -41.8pp
• All cycles: 2024: R+41.8 2020: R+38.8 2016: R+39.5 2012: R+22.0 2008: R+13.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -47.19%
• Current HPI: 223.0485
• 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

1 event — show timeline

• 2026-05-26 Listed $89,900 FSBO.com