607 Berkley Dr · Wabash, IN 46992

$68,500

3 bd · 1.0 ba · 1,184 sqft · SingleFamily public records · 13 Days on market

Built 1955 6,732 sqft lot ↓ 38% 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 +30.0/30.0
• DSCR +10.0/10.0
• 1% rule +9.2/10.0
• ARV discount +7.5/15.0
• Livability +3.8/5.0
• Rent growth +2.5/5.0
• Schools +2.5/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

3 bedrooms, 1 bath, 1184 square foot home with two living areas & eat in kitchen. The home also has a separate laundry room. Large back yard with multiple sheds. Potential for some off-street parking on the left side of the home. Do not enter back porch, it is unsafe. Property has multiple offers. Highest and best offers are due by 2pm April 20, 2026.

Key facts

• Multiple sheds
• Off street parking
• Eat in kitchen

Tags

• TWO LIVING AREAS
• EAT IN KITCHEN
• SEPARATE LAUNDRY ROOM
• LARGE BACK YARD
• MULTIPLE SHEDS
• OFF STREET PARKING

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $68k.

Deal economics

• At list price, monthly cash flow is $297 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($975 rent vs $68k).
• Cap rate 11.5% vs local median 4.0% in Wabash — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 76/100 on livability (#48 in IN, #3,353 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: employment D, commute F.
• Wabash City Schools (town): math 21% / reading 38% proficiency, ranked #249 of 301 in IN (top 83%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Wabash Middle School (math 18% / reading 43%, grade F, #203 of 330 statewide, top 63%, 443 students, 60% FRL); Wabash High School (math 27% / reading 42%, grade F, #270 of 369 statewide, top 77%, 478 students, 53% FRL).
• Market conditions: 37 active listings in the ZIP; 42 units permitted in Wabash County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $474 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Wabash County population projected at -16% 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 $19k cash investment doubles in ~7 years — after that, you're playing with house money.

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.

Risks & watch-outs

• Watch-outs: built in 1955 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $68,500

Questions for the listing agent

1. Built in 1955 — 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. 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?
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: 1.42% ✓
• Cap rate: 11.49%
• Cash-on-cash: 18.55%
• DSCR: 1.83
• GRM: 5.9

CMA / ARV

• ARV (on-the-fly): $145,632
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
607 Berkley Dr	0.00mi	3/1.0	1,184 (0%)	0mo	$70,000	$59	100
715 Sivey St	0.18mi	3/1.0	1,088 (-8%)	3mo	$150,000	$138	76
1430 Vernon St	0.33mi	2/1.0 (-1)	1,192 (+1%)	6mo	$112,880	$95	74
600 Linlawn Dr	0.09mi	3/1.0	1,050 (-11%)	8mo	$149,900	$143	71
757 Columbus St	0.37mi	3/1.0	1,232 (+4%)	7mo	$159,000	$129	70
805 Berkley Dr	0.20mi	2/2.0 (-1)	1,202 (+2%)	12mo	$148,000	$123	69
1330 Middle St	0.45mi	3/1.0	1,267 (+7%)	3mo	$65,000	$51	65
952 Columbus St	0.45mi	3/2.0	1,224 (+3%)	7mo	$138,000	$113	64
1541 Meadow St	0.45mi	3/1.0	1,056 (-11%)	10mo	$150,000	$142	52
1473 Vernon St	0.26mi	2/1.5 (-1)	1,348 (+14%)	9mo	$160,000	$119	50
178 Shady Lane Dr	0.36mi	3/2.0	1,324 (+12%)	11mo	$179,500	$136	50
218 Columbus St	0.69mi	3/1.0	1,296 (+10%)	3mo	$68,500	$53	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: 10.3%
• Equity multiple: 1.41×
• Total profit: $7,801
• Equity at exit: $10,214

10-year hold

• IRR: 19.4%
• Equity multiple: 2.63×
• Total profit: $31,172
• Equity at exit: $5,923

Cash invested: $19,180 (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 46992

• Home prices YoY: -21.3%
• Active inventory: 37
• Price-to-rent: 5.9×

Monthly cashflow live

• Estimated rent: $975 medium
• Mortgage (P&I): −$359
• Tax est. 1.5%: −$86 /mo · $1,028/yr
• Insurance: −$29
• HOA: −$0
• Vacancy / Maint / Mgmt: −$205
• Net cashflow: $297

Break-even live

Break-even rent $599

Max offer price $68,500

Occupancy floor 65%

Sensitivity live

Price	-10% $344	-5% $320	+0% $297	+5% $273	+10% $249
Rent	-10% $220	-5% $258	+0% $297	+5% $335	+10% $374
Rate	-1.0pp $331	-0.5pp $314	base $297	+0.5pp $279	+1.0pp $261

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: $17,125
• Closing costs: $2,055
• Reserves months: —
• Total cash needed: —

Listing history 6 events

1. 2026-04-28
   status Pending
2. 2026-04-22
   historical Active Under Contract
3. 2026-04-15
   listed $68,500 Active
4. 2025-08-26
   historical Active Under Contract
5. 2025-07-31
   price $105,000
6. 2025-07-19
   listed $110,000 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 ≥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: $11,695
• − Mortgage interest: −$3,837
• − Property taxes: −$1,028
• − Insurance: −$342
• − Repairs & maintenance: −$936
• − Management: −$936
• − Depreciation: −$1,993
• Taxable income: $2,624
• Est. tax owed @ 24.0%: −$630
• After-tax cash flow: $2,929/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: Wabash City Schools
• NCES district ID: 1812150
• Math proficiency: 21% ▼ -10.00%
• Reading proficiency: 38% ▼ -7.00%
• Median HH income: $38,900
• Composite: 24.66/100
• National rank: #7622
• State rank: #249 of 301 in IN

Livability — Wabash

• Score: 76/100
• State rank: #48
• US rank: #3353

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Wabash, IN
• City population: 16,475
• Population (ZIP): 16,475

Population outlook (Wabash County) Hauer SSP2

• Today (2025): 30,872 people
• By 2030: 29,933 · -3.0%
• By 2040: 27,877 · -9.7%
• By 2050: 25,887 · -16.1%
• By 2075: 22,404 · -27.4%
• By 2100: 19,461 · -37.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (93%)
• Race & ethnicity: White 93% Hispanic / Latino 4% Two or more races 3%
• Common ancestry: Lithuanian 2% Italian 1% Iranian 1%
• Foreign-born: 1% · Canada
• Languages at home: 98% English-only · Spanish 1%

Political lean MEDSL · Wabash

• 2024 margin: Solid R (+50.8) · D 23.9% · R 74.7% · Other 1.4%
• 2008→2024 swing: -30.7pp toward R · 2008: -20.1pp · 2024: -50.8pp
• All cycles: 2024: R+50.8 2020: R+49.9 2016: R+50.7 2012: R+36.2 2008: R+20.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -59.46%
• Current HPI: 220.0458
• 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

-37.7% since first listed

6 events — show timeline

• 2026-04-28 Pending — IRMLS
• 2026-04-22 Contingent — IRMLS
• 2026-04-15 Listed $68,500 IRMLS
• 2025-08-26 Contingent — IRMLS
• 2025-07-31 Price Changed $105,000 IRMLS
• 2025-07-19 Listed $110,000 IRMLS

Property tax history

+0.0%/yr

Latest (2017): $24 · +0.0% YoY. Source: county tax records.