10120 E 200 N · Groverton, IN 46531

$114,900

3 bd · 1.0 ba · 912 sqft · SingleFamily public records · 13 Days on market

Built 1968 2.50 ac lot Est $88k · 31% over

---

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 +22.9/30.0
• DSCR +7.3/10.0
• 1% rule +4.8/10.0
• Schools +2.6/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

Opportunity awaits with this three-bedroom, one bath home offering nearly 1,000 square feet of living space, perfectly situated on 21/2 acres in a peaceful, private setting. If you've been searching for a property with room to grow and the chance to build equity, this one is full of potential. The home features a functional layout with three bedrooms and a full bath, ready for your vision and updates. While the property is in need of some repairs, it provides a solid starting point for investors or buyers looking to create their own country retreat. Outside, you'll appreciate the spacious yard surrounded by nature, offering privacy and plenty of room for gardening and recreation. The detached two-car garage provides excellent space for vehicles, tools, or a workshop, and the additional outbuilding adds even more storage. Conveniently located just minutes from Highway 30, you'll enjoy the quiet of rural living with easy access to nearby towns, shopping, and commuting routes.

Key facts

• Spacious yard
• Room for gardening
• 2.5 acre lot

Tags

• PEACEFUL PRIVATE SETTING
• SPACIOUS YARD
• ROOM FOR GARDENING
• DETACHED TWO CAR GARAGE
• ADDITIONAL OUTBUILDING
• EASY ACCESS TO NEARBY TOWNS

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $115k.

Deal economics

• At list price, monthly cash flow is $201 ($2k/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 $113k (2.0% below list).
• Recommended offer: $113k (2.0% 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.
• Knox Community School Corporation (town): math 27% / reading 34% proficiency, ranked #242 of 301 in IN (top 80%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Knox Community Elementary School (math 47% / reading 38%, grade F, #425 of 994 statewide, top 44%, 704 students, 66% FRL); Knox Community Middle School (math 18% / reading 24%, grade F, #270 of 330 statewide, top 82%, 470 students, 66% FRL); Knox Community High School (math 32% / reading 62%, grade D-, #143 of 369 statewide, top 44%, 572 students, 66% FRL).
• Market conditions: 9 active listings in the ZIP; 58 units permitted in Starke County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $794 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Starke County population projected at -23% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• Only 13 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 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.

Recommended offer $112,557 (2.0% below list)

Questions for the listing agent

1. Built in 1968 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
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: 0.98% ✗
• Cap rate: 8.39%
• Cash-on-cash: 7.50%
• DSCR: 1.33
• GRM: 8.5

CMA / ARV

• ARV (on-the-fly): $87,552
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
10120 E 200 N	0.00mi	3/1.0	912 (0%)	0mo	$87,500	$96	100

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: -4.9%
• Equity multiple: 0.82×
• Total profit: $-5,857
• Equity at exit: $17,132

10-year hold

• IRR: 4.7%
• Equity multiple: 1.35×
• Total profit: $11,199
• Equity at exit: $9,934

Cash invested: $32,172 (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 46531

• Home prices YoY: -4.1%
• Active inventory: 9
• Price-to-rent: 8.5×

Monthly cashflow live

• Estimated rent: $1,126 medium
• Mortgage (P&I): −$603
• Tax from tax record: −$38 /mo · $452/yr
• Insurance: −$48
• HOA: −$0
• Vacancy / Maint / Mgmt: −$236
• Net cashflow: $201

Break-even live

Break-even rent $871

Max offer price $114,900

Occupancy floor 77%

Sensitivity live

Price	-10% $266	-5% $234	+0% $201	+5% $169	+10% $136
Rent	-10% $112	-5% $157	+0% $201	+5% $246	+10% $290
Rate	-1.0pp $259	-0.5pp $230	base $201	+0.5pp $171	+1.0pp $141

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: $28,725
• Closing costs: $3,447
• Reserves months: —
• Total cash needed: —

Listing history 6 events

1. 2026-06-15
   remarks 699-char remark
2. 2026-06-15
   days on marketlisting id $114,900 Pending 13 DOM
3. 2026-03-13
   status Pending 988-char remark

   Show marketing remark (988 chars)

   Opportunity awaits with this three-bedroom, one bath home offering nearly 1,000 square feet of living space, perfectly situated on 21/2 acres in a peaceful, private setting. If you've been searching for a property with room to grow and the chance to build equity, this one is full of potential. The home features a functional layout with three bedrooms and a full bath, ready for your vision and updates. While the property is in need of some repairs, it provides a solid starting point for investors or buyers looking to create their own country retreat. Outside, you'll appreciate the spacious yard surrounded by nature, offering privacy and plenty of room for gardening and recreation. The detached two-car garage provides excellent space for vehicles, tools, or a workshop, and the additional outbuilding adds even more storage. Conveniently located just minutes from Highway 30, you'll enjoy the quiet of rural living with easy access to nearby towns, shopping, and commuting routes.

4. 2026-03-13
   status Pending

   Show marketing remark (988 chars)

   Opportunity awaits with this three-bedroom, one bath home offering nearly 1,000 square feet of living space, perfectly situated on 21/2 acres in a peaceful, private setting. If you've been searching for a property with room to grow and the chance to build equity, this one is full of potential. The home features a functional layout with three bedrooms and a full bath, ready for your vision and updates. While the property is in need of some repairs, it provides a solid starting point for investors or buyers looking to create their own country retreat. Outside, you'll appreciate the spacious yard surrounded by nature, offering privacy and plenty of room for gardening and recreation. The detached two-car garage provides excellent space for vehicles, tools, or a workshop, and the additional outbuilding adds even more storage. Conveniently located just minutes from Highway 30, you'll enjoy the quiet of rural living with easy access to nearby towns, shopping, and commuting routes.

5. 2026-02-28
   listed $114,900 Active 988-char remark

   Show marketing remark (988 chars)

   Opportunity awaits with this three-bedroom, one bath home offering nearly 1,000 square feet of living space, perfectly situated on 21/2 acres in a peaceful, private setting. If you've been searching for a property with room to grow and the chance to build equity, this one is full of potential. The home features a functional layout with three bedrooms and a full bath, ready for your vision and updates. While the property is in need of some repairs, it provides a solid starting point for investors or buyers looking to create their own country retreat. Outside, you'll appreciate the spacious yard surrounded by nature, offering privacy and plenty of room for gardening and recreation. The detached two-car garage provides excellent space for vehicles, tools, or a workshop, and the additional outbuilding adds even more storage. Conveniently located just minutes from Highway 30, you'll enjoy the quiet of rural living with easy access to nearby towns, shopping, and commuting routes.

6. 2026-02-28
   listed $114,900 Active

   Show marketing remark (988 chars)

   Opportunity awaits with this three-bedroom, one bath home offering nearly 1,000 square feet of living space, perfectly situated on 21/2 acres in a peaceful, private setting. If you've been searching for a property with room to grow and the chance to build equity, this one is full of potential. The home features a functional layout with three bedrooms and a full bath, ready for your vision and updates. While the property is in need of some repairs, it provides a solid starting point for investors or buyers looking to create their own country retreat. Outside, you'll appreciate the spacious yard surrounded by nature, offering privacy and plenty of room for gardening and recreation. The detached two-car garage provides excellent space for vehicles, tools, or a workshop, and the additional outbuilding adds even more storage. Conveniently located just minutes from Highway 30, you'll enjoy the quiet of rural living with easy access to nearby towns, shopping, and commuting routes.

ⓘ 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: $452 · $38/mo
• Projected year-2 tax: $714 · $60/mo
• Expected delta: +$262/yr (+$22/mo · 58.1%)

ⓘ 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 2/10 Low 7 d/yr ≥101°F today · 16 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $13,507
• − Mortgage interest: −$6,436
• − Property taxes: −$452
• − Insurance: −$574
• − Repairs & maintenance: −$1,081
• − Management: −$1,081
• − Depreciation: −$3,343
• Taxable income: $541
• Est. tax owed @ 24.0%: −$130
• After-tax cash flow: $2,284/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: Knox Community School Corporation
• NCES district ID: 1805340
• Math proficiency: 27% ▼ -9.00%
• Reading proficiency: 34% ▼ -8.00%
• Median HH income: $39,955
• Composite: 25.64/100
• National rank: #7401
• State rank: #242 of 301 in IN

Livability — Groverton

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

Census & demographics

• Population (ZIP): 1,818

Population outlook (Starke County) Hauer SSP2

• Today (2025): 21,860 people
• By 2030: 21,024 · -3.8%
• By 2040: 19,041 · -12.9%
• By 2050: 16,881 · -22.8%
• By 2075: 11,880 · -45.7%
• By 2100: 7,217 · -67.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (93%)
• Race & ethnicity: White 93% Hispanic / Latino 7%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Iranian 7% Subsaharan African 5% Romanian 2%
• Foreign-born: 6% · Canada
• Languages at home: 92% English-only · Russian/Polish/Slavic 6% Spanish 2%

Political lean MEDSL · Starke

• 2024 margin: Solid R (+52.0) · D 23.2% · R 75.3% · Other 1.5%
• 2008→2024 swing: -55.3pp toward R · 2008: 3.2pp · 2024: -52.0pp
• All cycles: 2024: R+52.0 2020: R+46.8 2016: R+42.0 2012: R+10.6 2008: D+3.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -10.81%
• Current HPI: 255.3721
• 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

+0.0% since first listed

4 events — show timeline

• 2026-03-13 Pending — NIRA MLS as Distributed by MLS Grid
• 2026-03-13 Pending — IRMLS
• 2026-02-28 Listed $114,900 IRMLS
• 2026-02-28 Listed $114,900 NIRA MLS as Distributed by MLS Grid

Property tax history

+3.0%/yr

Latest (2024): $452 · +8.3% YoY. Source: county tax records.