2842 S County Rd 475 E · Anoka, IN 46947

$105,000

2 bd · 1.0 ba · 748 sqft · SingleFamily public records · 130 Days on market

Built 1900 0.25 ac lot

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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).

• Cash flow +17.1/30.0
• ARV discount +7.5/15.0
• DSCR +5.3/10.0
• 1% rule +3.3/10.0
• Schools +3.1/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Cozy and inviting, this 3 bed / 1 bath home offers comfort and convenience on a spacious . 25-acre lot. Conveniently located 25 miles from Kokomo and 40 miles to Lafayette. Perfect for first-time buyers or those looking to downsize, you’ll love the blend of indoor charm and outdoor space. Plenty of room to garden, play, or just relax! This home is USDA eligible.

Key facts

• 0.25 acre lot
• Built 1900
• Listed 130 days

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $105k.

Deal economics

• At list price, monthly cash flow is $72 ($868/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $87k (17.2% below list).
• Recommended offer: $87k (17.2% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads: area grade D — affects rentability + tenant quality, not the cash-flow math above.
• Lewis Cass Schools (rural): math 35% / reading 37% proficiency, ranked #177 of 301 in IN (top 59%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 129 active listings in the ZIP; 22 units permitted in Cass County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $726 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Cass 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 130 days — a 12% lower offer ($92k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 5y ago; this cycle's ask has dropped $25k (19%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $82k; 27% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

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

Recommended offer $86,948 (17.2% below list)

Questions for the listing agent

1. It's been on market 130 days. Have you received any prior offers? Is the seller open to a 17% concession, seller financing, or rate buy-down credit?
2. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
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: 0.83% ✗
• Cap rate: 7.12%
• Cash-on-cash: 2.95%
• DSCR: 1.13
• GRM: 10.1

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: -11.7%
• Equity multiple: 0.58×
• Total profit: $-12,460
• Equity at exit: $15,656

10-year hold

• IRR: -2.6%
• Equity multiple: 0.83×
• Total profit: $-5,139
• Equity at exit: $9,078

Cash invested: $29,400 (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 46947

• Home prices YoY: -28.9%
• Active inventory: 129
• Price-to-rent: 10.1×

Monthly cashflow live

• Estimated rent: $869 medium
• Mortgage (P&I): −$551
• Tax from tax record: −$20 /mo · $242/yr
• Insurance: −$44
• HOA: −$0
• Vacancy / Maint / Mgmt: −$183
• Net cashflow: $72

Break-even live

Break-even rent $778

Max offer price $105,000

Occupancy floor 87%

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: $26,250
• Closing costs: $3,150
• Reserves months: —
• Total cash needed: —

Listing history 9 events

1. 2026-05-08
   status Active 370-char remark

   Show marketing remark (370 chars)

   Cozy and inviting, this 3 bed / 1 bath home offers comfort and convenience on a spacious . 25-acre lot. Conveniently located 25 miles from Kokomo and 40 miles to Lafayette. Perfect for first-time buyers or those looking to downsize, you’ll love the blend of indoor charm and outdoor space. Plenty of room to garden, play, or just relax! This home is USDA eligible.

2. 2026-04-17
   historical Active Under Contract 370-char remark

   Show marketing remark (370 chars)

   Cozy and inviting, this 3 bed / 1 bath home offers comfort and convenience on a spacious . 25-acre lot. Conveniently located 25 miles from Kokomo and 40 miles to Lafayette. Perfect for first-time buyers or those looking to downsize, you’ll love the blend of indoor charm and outdoor space. Plenty of room to garden, play, or just relax! This home is USDA eligible.

3. 2026-04-08
   price $105,000 370-char remark

   Show marketing remark (370 chars)

   Cozy and inviting, this 3 bed / 1 bath home offers comfort and convenience on a spacious . 25-acre lot. Conveniently located 25 miles from Kokomo and 40 miles to Lafayette. Perfect for first-time buyers or those looking to downsize, you’ll love the blend of indoor charm and outdoor space. Plenty of room to garden, play, or just relax! This home is USDA eligible.

4. 2025-10-22
   price $114,900
5. 2025-09-18
   price $119,900
6. 2025-09-08
   listed $130,000 Active

   Show marketing remark (370 chars)

   Cozy and inviting, this 3 bed / 1 bath home offers comfort and convenience on a spacious . 25-acre lot. Conveniently located 25 miles from Kokomo and 40 miles to Lafayette. Perfect for first-time buyers or those looking to downsize, you’ll love the blend of indoor charm and outdoor space. Plenty of room to garden, play, or just relax! This home is USDA eligible.

7. 2025-09-08
   listed $110,000 Active 370-char remark

   Show marketing remark (370 chars)

   Cozy and inviting, this 3 bed / 1 bath home offers comfort and convenience on a spacious . 25-acre lot. Conveniently located 25 miles from Kokomo and 40 miles to Lafayette. Perfect for first-time buyers or those looking to downsize, you’ll love the blend of indoor charm and outdoor space. Plenty of room to garden, play, or just relax! This home is USDA eligible.

8. 2022-01-31
   soldstatus $82,500
9. 2021-11-04
   listed $84,900

ⓘ 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: $242 · $20/mo
• Projected year-2 tax: $567 · $47/mo
• Expected delta: +$325/yr (+$27/mo · 134.7%)

ⓘ 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 3/10 Moderate 7 d/yr ≥101°F today · 17 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $10,434
• − Mortgage interest: −$5,882
• − Property taxes: −$242
• − Insurance: −$525
• − Repairs & maintenance: −$835
• − Management: −$835
• − Depreciation: −$3,055
• Taxable loss: −$938
• Est. tax savings @ 24.0%: +$225
• After-tax cash flow: $1,094/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: Lewis Cass Schools
• NCES district ID: 1810680
• Math proficiency: 35% ▼ -7.00%
• Reading proficiency: 37% ▼ -10.00%
• Median HH income: $50,796
• Composite: 31.25/100
• National rank: #6029
• State rank: #177 of 301 in IN

Livability — Anoka

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• Census place: Anoka, IN
• Population (ZIP): 28,830

Population outlook (Cass County) Hauer SSP2

• Today (2025): 36,480 people
• By 2030: 35,390 · -3.0%
• By 2040: 33,077 · -9.3%
• By 2050: 30,631 · -16.0%
• By 2075: 25,426 · -30.3%
• By 2100: 20,617 · -43.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (70%)
• Race & ethnicity: White 70% Hispanic / Latino 22% Two or more races 8% Asian 2% Black 1%
• Hispanic origin (detail): Mexican 13%
• Common ancestry: Italian 2% Iranian 1% Lithuanian 1%
• Foreign-born: 12% · Canada, China
• Languages at home: 80% English-only · Spanish 17% French/Haitian/Cajun 1% Other Asian/Pacific 1%

Political lean MEDSL · Cass

• 2024 margin: Solid R (+46.2) · D 26.2% · R 72.4% · Other 1.4%
• 2008→2024 swing: -37.7pp toward R · 2008: -8.5pp · 2024: -46.2pp
• All cycles: 2024: R+46.2 2020: R+41.1 2016: R+42.0 2012: R+21.7 2008: R+8.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -91.21%
• Current HPI: 223.8394
• 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

+23.7% since first listed

9 events — show timeline

• 2026-05-08 Relisted — IRMLS
• 2026-04-17 Contingent — IRMLS
• 2026-04-08 Price Changed $105,000 IRMLS
• 2025-10-22 Price Changed $114,900 IRMLS
• 2025-09-18 Price Changed $119,900 IRMLS
• 2025-09-08 Listed $130,000 IRMLS
• 2025-09-08 Listed $110,000 IRMLS
• 2022-01-31 Sold (MLS) $82,500 IRMLS
• 2021-11-04 Listed $84,900 IRMLS

Property tax history

-0.0%/yr

Latest (2024): $242 · +29.6% YoY. Source: county tax records.