1120 Sanders Ave · Goshen, IN 46528

$219,900

2 bd · 1.0 ba · 598 sqft · SingleFamily public records · 6 Days on market

Built 1947 4,792 sqft lot

---

Why this score? — see what drove the F 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 +7.5/15.0
• Livability +4.2/5.0
• Cash flow +3.0/30.0
• Schools +3.0/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +0.0/10.0
• DSCR +0.0/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Adorable and affordable! Well maintained home on Goshen south side. Efficient floor plan. All kitchen appliances stay. Partially finished lower level. Taxes would be much less with homestead exemption. Payments less then rent!

Key facts

• 4,792 sq ft lot
• Garage
• Built 1947

Property features AI

Finance

• Other: Zoned R-1 Single-Family; Subdivision: None

Exterior

• Parking: Attached garage with 1 garage space
• Utilities: Public water; Public sewer
• Home design: Single-family, site-built home; One-story
• Construction: Vinyl siding; Shingle roof; Below-grade finished area included
• Exterior features: Corner lot; Lot dimensions approximately 75 x 90

Interior

• Kitchen: Includes Dishwasher, Microwave, Gas Range
• Bedrooms: Total of 12 rooms (bedroom count not specified)
• Flooring: Carpet; Vinyl
• Bathrooms: 1 full bathroom (main level)
• Heating & cooling: Natural gas heating with forced air; Central air conditioning
• Interior features: Dishwasher, Microwave, Gas Range; Full and partial basement
• Laundry & utility: Laundry located on the lower level

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $220k.

Deal economics

• At list price, monthly cash flow is $-717 ($-9k/yr) — negative.
• To cash-flow at today's rent, offer at most $93k (57.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $84k (61.7% below list).
• Recommended offer: $84k (61.7% below list) — sets the bar for 1% rule.
• Cap rate 2.4% vs local median 3.2% in Goshen — below-typical yield; the buyer is paying a premium for something (appreciation thesis, condition, location) that the cap rate doesn't capture.

Location & tenants

• Location reads 85/100 on livability (#4 in IN, #622 nationally) — a professional / high-income tenant draw. Strengths: commute A+, cost of living A+, housing A+; Watch: employment D+.
• Goshen Community Schools (urban): math 31% / reading 40% proficiency, ranked #190 of 301 in IN (top 63%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Parkside Elementary School (math 57% / reading 42%, grade D, #279 of 994 statewide, top 30%, 252 students, 62% FRL); Goshen Junior High School (math 25% / reading 38%, grade F, #197 of 330 statewide, top 60%, 1,001 students, 70% FRL); Goshen High School (math 32% / reading 65%, grade D, #139 of 369 statewide, top 38%, 2,004 students, 64% FRL).
• Market conditions: 74 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 484 units permitted in Elkhart County in 2024 (136 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.
• Elkhart County population projected at +7% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 10y 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.
• Current owner paid $66k; list at $220k implies a 233% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1947 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $84,258 (61.7% 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. Built in 1947 — 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. 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: 0.38% ✗
• Cap rate: 2.38%
• Cash-on-cash: -13.98%
• DSCR: 0.38
• GRM: 21.7

CMA / ARV

• ARV (on-the-fly): $128,570
• Comps found: 9

Show comp detail 9 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
817 S 12th St	0.33mi	2/1.0	598 (0%)	10mo	$140,000	$234	76
1113 Sanders Ave	0.04mi	2/1.0	648 (+8%)	16mo	$158,000	$244	71
1205 E Plymouth Ave	0.27mi	2/1.0	572 (-4%)	15mo	$142,300	$249	67
1008 E Monroe St	0.12mi	1/1.0 (-1)	560 (-6%)	20mo	$100,000	$179	62
1114 Sanders Ave	0.02mi	1/1.0 (-1)	660 (+10%)	17mo	$90,000	$136	62
905 S 14 th St	0.32mi	1/1.0 (-1)	526 (-12%)	2mo	$65,100	$124	58
1111 E Plymouth Ave	0.27mi	2/1.0	549 (-8%)	19mo	$140,000	$255	57
821 S 12th St	0.34mi	2/1.0	672 (+12%)	13mo	$144,500	$215	53
905 S 16th St	0.32mi	1/1.0 (-1)	512 (-14%)	7mo	$107,000	$209	50

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: -42.8%
• Equity multiple: -0.32×
• Total profit: $-81,396
• Equity at exit: $32,788

10-year hold

• IRR: -74.7%
• Equity multiple: -1.11×
• Total profit: $-130,002
• Equity at exit: $19,013

Cash invested: $61,572 (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 46528

• Home prices YoY: -26.9%
• Active inventory: 74
• Price-to-rent: 21.7×

Monthly cashflow live

• Estimated rent: $843 medium
• Mortgage (P&I): −$1,153
• Tax from tax record: −$138 /mo · $1,659/yr
• Insurance: −$92
• HOA: −$0
• Vacancy / Maint / Mgmt: −$177
• Net cashflow: $-717

Break-even live

Break-even rent $1,751

Max offer price $93,169

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: $54,975
• Closing costs: $6,597
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1103 S 9th St Apt B Goshen, IN	1.0	1.0	500	$800	$1.60	43d	1	0.71mi
200 W Lincoln Ave Apt 4 Goshen, IN	1.0	1.0	600	$895	$1.49	21d	1	1.04mi

Listing history 7 events

1. 2026-06-13
   status $219,900 Pending 6 DOM
2. 2026-06-10
   days on market $219,900 Active 6 DOM
3. 2026-06-09
   days on market $219,900 Active 5 DOM
4. 2026-06-08
   days on market $219,900 Active 4 DOM
5. 2026-06-07
   days on market $219,900 Active 3 DOM
6. 2026-06-05
   remarks 693-char remark
7. 2026-06-05
   listed $219,900 Active 1 DOM

ⓘ 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: $1,659 · $138/mo
• Projected year-2 tax: $1,764 · $147/mo
• Expected delta: +$105/yr (+$9/mo · 6.3%)

ⓘ 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 ≥100°F today · 16 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: $10,111
• − Mortgage interest: −$12,318
• − Property taxes: −$1,659
• − Insurance: −$1,100
• − Repairs & maintenance: −$809
• − Management: −$809
• − Depreciation: −$6,397
• Taxable loss: −$12,980
• Est. tax savings @ 24.0%: +$3,115
• After-tax cash flow: $-5,494/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: Goshen Community Schools
• NCES district ID: 1803930
• Math proficiency: 31% ▼ -11.00%
• Reading proficiency: 40% ▼ -4.00%
• Median HH income: $44,892
• Composite: 30.24/100
• National rank: #6292
• State rank: #190 of 301 in IN

Livability — Goshen

• Score: 85/100
• State rank: #4
• US rank: #622

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Goshen, IN
• City population: 33,668
• Population (ZIP): 26,356

Population outlook (Elkhart County) Hauer SSP2

• Today (2025): 213,761 people
• By 2030: 218,103 · +2.0%
• By 2040: 225,381 · +5.4%
• By 2050: 229,447 · +7.3%
• By 2075: 232,856 · +8.9%
• By 2100: 214,088 · +0.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (76%)
• Race & ethnicity: White 76% Hispanic / Latino 19% Two or more races 7% Black 2% Asian 1%
• Hispanic origin (detail): Mexican 16%
• Common ancestry: Italian 3% Iranian 2% Polish 2%
• Foreign-born: 9% · Canada, South Korea, Jamaica
• Languages at home: 73% English-only · Spanish 14% German/W. Germanic 11% Russian/Polish/Slavic 1%

Political lean MEDSL · Elkhart

• 2024 margin: Solid R (+32.4) · D 33.1% · R 65.5% · Other 1.4%
• 2008→2024 swing: -21.2pp toward R · 2008: -11.2pp · 2024: -32.4pp
• All cycles: 2024: R+32.4 2020: R+28.1 2016: R+32.4 2012: R+26.5 2008: R+11.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -85.40%
• Current HPI: 231.4441
• 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

+214.6% since first listed

3 events — show timeline

• 2026-06-04 Listed $219,900 IRMLS
• 2016-05-26 Sold (MLS) $66,000 IRMLS
• 2016-04-04 Listed $69,900 IRMLS

Property tax history

-1.1%/yr

Latest (2025): $1,659 · -18.9% YoY. Source: county tax records.