5467 E 650 N · Talma, IN 46975

$79,500

2 bd · 2.0 ba · 868 sqft · Manufactured public records · 11 Days on market

Built 1974 1.05 ac lot ↓ 6% since listing

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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 +29.8/30.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• 1% rule +7.4/10.0
• Schools +3.5/10.0
• 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

Discover Your Perfect Tippecanoe River Retreat! This beautifully remodeled two-bedroom home, situated on one acre, is an ideal spot for creating lasting memories filled with fishing, boating, and cozy bonfires. Don’t judge this home by its exterior! The inside of this home is stunning and has new windows, roof, flooring, kitchen, bathroom, and more. The spacious open concept living room, kitchen, and dining room are perfect for entertaining and accommodating guests at your riverside retreat. Boating becomes effortless and enjoyable with over 100 ft of riverfront and located adjacent to the Talma boat ramp. A 10x12 shed is available for storing all your boating and fishing equipment. Embrace the tranquility and fun that this river retreat has to offer! Property must be purchased with cash.

Key facts

• New kitchen
• New bathroom
• New flooring

Tags

• REMODELED HOME
• NEW WINDOWS
• NEW ROOF
• NEW FLOORING
• NEW KITCHEN
• NEW BATHROOM

Property features AI

Exterior

• Parking: Driveway
• Security: Smoke detectors
• Utilities: Well water; Septic tank; 200+ amp electrical service; Electricity connected; Natural gas available
• Home design: One-story home; Built in 1974; Entry level and facing details not specified
• Construction: Built 1974; Construction materials: Other; Roof: Other; Foundation: Crawl space
• Exterior features: Riverfront property; Water view and rural surroundings; Private yard; Porch (screened); Shed(s) and exterior storage

Interior

• Kitchen: Electric cooktop; Microwave; Refrigerator; Water softener (owned)
• Bedrooms: Primary bedroom; Second bedroom
• Flooring: Vinyl; Other flooring
• Bathrooms: 1 full bathroom; 1 three-quarter bathroom; 2 half bathrooms
• Heating & cooling: Ceiling fan(s) for cooling; No central heating specified; Other heating and cooling features
• Interior features: Ceiling fans; Open floor plan; Crawl space basement
• Laundry & utility: Laundry on main level

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $80k.

Deal economics

• At list price, monthly cash flow is $167 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($985 rent vs $80k).

Location & tenants

• Location reads: area grade B — affects rentability + tenant quality, not the cash-flow math above.
• Tippecanoe Valley School Corporation (rural): math 40% / reading 42% proficiency, ranked #126 of 301 in IN (top 42%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Tippecanoe Valley High School (math 32% / reading 62%, grade D-, #143 of 369 statewide, top 44%, 545 students, 49% FRL) — zoned schools at 49% FRL track the district average.
• Market conditions: 97 active listings in the ZIP; 23 units permitted in Fulton County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $550 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Fulton County population projected at -13% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• Only 11 days on market — expect competitive offers; lowballing is unlikely to land.
• 6 sale attempts 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: flood insurance adds $125/mo.
• Climate carrying-cost: in FEMA flood zone A (mandatory federal flood insurance) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $79,500

Questions for the listing agent

1. Built in 1974 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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.
5. 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.
6. 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: 1.24% ✓
• Cap rate: 10.71%
• Cash-on-cash: 15.77%
• DSCR: 1.70
• GRM: 6.7

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: -2.6%
• Equity multiple: 0.90×
• Total profit: $-2,172
• Equity at exit: $11,854

10-year hold

• IRR: 7.2%
• Equity multiple: 1.54×
• Total profit: $12,045
• Equity at exit: $6,874

Cash invested: $22,260 (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 46975

• Home prices YoY: -28.7%
• Active inventory: 97
• Price-to-rent: 6.7×

Monthly cashflow live

• Estimated rent: $985 medium
• Mortgage (P&I): −$417
• Tax from tax record: −$35 /mo · $425/yr
• Insurance: −$33
• Flood insurance flood zone: −$125 /mo · $1,502/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$207
• Net cashflow: $167

Break-even live

Break-even rent $773

Max offer price $79,500

Occupancy floor 78%

Sensitivity live

Price	-10% $212	-5% $190	+0% $167	+5% $145	+10% $122
Rent	-10% $90	-5% $128	+0% $167	+5% $206	+10% $245
Rate	-1.0pp $207	-0.5pp $188	base $167	+0.5pp $147	+1.0pp $126

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: $19,875
• Closing costs: $2,385
• Reserves months: —
• Total cash needed: —

Listing history 9 events

1. 2026-06-19
   days on market $79,500 Active 11 DOM
2. 2026-06-18
   days on market $79,500 Active 10 DOM
3. 2026-06-17
   days on market $79,500 Active 9 DOM
4. 2026-06-16
   days on market $79,500 Active 8 DOM
5. 2026-06-15
   days on market $79,500 Active 7 DOM
6. 2026-06-14
   days on market $79,500 Active 5 DOM
7. 2026-06-12
   days on market $79,500 Active 4 DOM
8. 2026-06-09
   remarks 699-char remark
9. 2026-06-09
   listed $79,500 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: $425 · $35/mo
• Projected year-2 tax: $550 · $46/mo
• Expected delta: +$125/yr (+$10/mo · 29.5%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 8/10 Severe FEMA zone A · 99% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥100°F today · 17 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 3/10 Moderate 1 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $11,817
• − Mortgage interest: −$4,453
• − Property taxes: −$425
• − Insurance: −$1,900
• − Repairs & maintenance: −$945
• − Management: −$945
• − Depreciation: −$2,313
• Taxable income: $836
• Est. tax owed @ 24.0%: −$201
• After-tax cash flow: $1,807/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: Tippecanoe Valley School Corporation
• NCES district ID: 1811370
• Math proficiency: 40% ▼ -9.00%
• Reading proficiency: 42% ▼ -5.00%
• Median HH income: $49,697
• Composite: 35.29/100
• National rank: #4969
• State rank: #126 of 301 in IN

Livability — Talma

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

Census & demographics

• Census place: Talma, IN
• County: Fulton County · 13,824 people
• Metro: nan
• Population (ZIP): 13,824
• Household income: $61,185
• Rent vs Own: 21.3% rent · 78.7% own
• Severe rent burden: 238.0

Population outlook (Fulton County) Hauer SSP2

• Today (2025): 19,537 people
• By 2030: 19,013 · -2.7%
• By 2040: 17,959 · -8.1%
• By 2050: 17,038 · -12.8%
• By 2075: 15,117 · -22.6%
• By 2100: 13,179 · -32.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (91%)
• Race & ethnicity: White 91% Hispanic / Latino 4% Two or more races 3%
• Common ancestry: Iranian 2% Scottish 2% Lithuanian 2%
• Foreign-born: 1% · Canada
• Languages at home: 97% English-only · German/W. Germanic 2% Spanish 1%

Political lean MEDSL · Fulton

• 2024 margin: Solid R (+51.2) · D 23.7% · R 74.9% · Other 1.4%
• 2008→2024 swing: -35.2pp toward R · 2008: -16.0pp · 2024: -51.2pp
• All cycles: 2024: R+51.2 2020: R+48.2 2016: R+48.4 2012: R+33.2 2008: R+16.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -85.72%
• Current HPI: 212.9033
• Rent YoY: —
• Metro: nan
• 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

-6.5% since first listed

13 events — show timeline

• 2026-06-08 Listed $79,500 NIRA MLS as Distributed by MLS Grid
• 2026-06-08 Listed $79,500 IRMLS
• 2025-11-20 Listing Removed — NIRA MLS as Distributed by MLS Grid
• 2025-11-04 Price Changed $69,900 NIRA MLS as Distributed by MLS Grid
• 2025-11-04 Price Changed $69,900 IRMLS
• 2025-10-13 Relisted — IRMLS
• 2025-10-13 Price Changed $78,000 IRMLS
• 2025-10-13 Price Changed $78,000 NIRA MLS as Distributed by MLS Grid
• 2025-10-13 Relisted — NIRA MLS as Distributed by MLS Grid
• 2025-10-10 Contingent — IRMLS
• 2025-10-10 Pending — NIRA MLS as Distributed by MLS Grid
• 2025-09-25 Listed $85,000 IRMLS
• 2025-09-25 Listed $85,000 NIRA MLS as Distributed by MLS Grid

Property tax history

+0.4%/yr

Latest (2024): $425 · +0.8% YoY. Source: county tax records.