906 River Ave · Goshen, IN 46528

$90,000

3 bd · 2.0 ba · 1,392 sqft · SingleFamily public records · 5 Days on market

Built 1890 7,100 sqft lot

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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 +27.8/30.0
• DSCR +9.8/10.0
• 1% rule +9.7/10.0
• ARV discount +7.5/15.0
• Livability +4.2/5.0
• Schools +3.0/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

NICE STARTER HOME ON GOSHEN NORTH SIDE ON THE ELKHART RIVER YOU WILL FIND THIS 3 BEDROOM , 2 BATH HOME , KITCHEN APPLIANCES STAY , 14X16 GARAGE , RRADY FOR YOU TO MOVE IN AND GO FISHING FROM YOUR BACK YARD

Key facts

• 7,100 sq ft lot
• Garage
• Built 1890

Property features AI

Exterior

• Parking: Detached off-street garage with 1 garage space
• Utilities: Public water; Public sewer
• Home design: Single-family site-built home; 2-story
• Construction: Aluminum and vinyl siding
• Exterior features: Waterfront property on the Elkhart River; Lot is level with some rolling slope; Lot dimensions approximately 49 x 145

Interior

• Bathrooms: 2 full bathrooms; 1 bathroom on the main level
• Heating & cooling: Central air conditioning; Forced air heating
• Interior features: Total of 8 rooms; Basement present (partial crawl space)
• Laundry & utility: Laundry located in the basement

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $90k.

Deal economics

• At list price, monthly cash flow is $276 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $90k).
• Cap rate 10.0% vs local median 3.2% in Goshen — 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 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: West Goshen Elementary School (math 32% / reading 37%, grade F, #597 of 994 statewide, top 63%, 247 students, 83% 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; 6 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); 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 $622 of loan paydown is wiped out by about $3k 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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $25k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• Only 5 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 9y 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.

Risks & watch-outs

• Watch-outs: property tax is 3.5% of price; built in 1890 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $90,000

Questions for the listing agent

1. Built in 1890 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
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. 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.
6. 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.
7. 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: 1.47% ✓
• Cap rate: 9.97%
• Cash-on-cash: 13.12%
• DSCR: 1.58
• GRM: 5.7

CMA / ARV

• ARV (on-the-fly): $206,016
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1111 W Wilkinson St	0.24mi	4/2.0 (+1)	1,522 (+9%)	1mo	$225,000	$148	68
325 Dewey Ave	0.65mi	3/1.0	1,392 (0%)	4mo	$224,900	$162	62
1113 Baker Ave	0.68mi	3/1.0	1,400 (+1%)	2mo	$195,000	$139	62
406 Sunset Blvd	0.46mi	3/1.0	1,510 (+8%)	5mo	$228,000	$151	56
1205 West Ave	0.57mi	2/2.0 (-1)	1,480 (+6%)	4mo	$185,000	$125	54
212 New St	0.60mi	3/1.0	1,307 (-6%)	5mo	$136,000	$104	54
501 Parkwest Dr	0.74mi	3/2.0	1,456 (+5%)	8mo	$275,000	$189	52
309 W Oakridge Ave	0.51mi	3/2.0	1,568 (+13%)	9mo	$260,000	$166	47
404 Kansas Dr	0.53mi	3/1.0	1,552 (+12%)	10mo	$226,000	$146	44
121 W Wilden Ave	0.67mi	3/1.0	1,248 (-10%)	5mo	$191,000	$153	44
314 W Oakridge Ave	0.49mi	3/1.0	1,596 (+15%)	9mo	$68,000	$43	41
1309 West Ave	0.60mi	4/1.5 (+1)	1,568 (+13%)	5mo	$210,000	$134	40

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: 3.2%
• Equity multiple: 1.12×
• Total profit: $3,080
• Equity at exit: $13,419

10-year hold

• IRR: 12.8%
• Equity multiple: 2.02×
• Total profit: $25,736
• Equity at exit: $7,782

Cash invested: $25,200 (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: 5.7×

Monthly cashflow live

• Estimated rent: $1,324 high
• Mortgage (P&I): −$472
• Tax from tax record: −$261 /mo · $3,129/yr
• Insurance: −$38
• HOA: −$0
• Vacancy / Maint / Mgmt: −$278
• Net cashflow: $276

Break-even live

Break-even rent $975

Max offer price $90,000

Occupancy floor 74%

Sensitivity live

Price	-10% $327	-5% $301	+0% $276	+5% $250	+10% $225
Rent	-10% $171	-5% $223	+0% $276	+5% $328	+10% $380
Rate	-1.0pp $321	-0.5pp $298	base $276	+0.5pp $252	+1.0pp $229

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: $22,500
• Closing costs: $2,700
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2011 W Wilden Ave Goshen, IN	1.0–3.0	1.0–2.0	1022	$1,100	$1.08	21d	1	0.81mi
275 Woodridge Ct Apt C Goshen, IN	3.0	1.0	1034	$1,495	$1.45	21d	1	0.88mi
251 Woodridge Ct Apt A Goshen, IN	3.0	1.0	1034	$1,195	$1.16	21d	1	0.90mi
265 Woodridge Ct Apt B Goshen, IN	3.0	1.0	1034	$1,295	$1.25	44d	1	0.90mi
521 S Silverwood Ln Unit F Goshen, IN	2.0	1.5	900	$925	$1.03	21d	1	1.09mi
1006 S Indiana Ave Goshen, IN	1.0–3.0	1.0–2.0	1150	$1,995	$1.73	21d	1	1.30mi

Listing history 6 events

1. 2026-06-17
   status $90,000 Pending 5 DOM
2. 2026-06-16
   days on market $90,000 Active 5 DOM
3. 2026-06-15
   days on market $90,000 Active 4 DOM
4. 2026-06-14
   days on market $90,000 Active 2 DOM
5. 2026-06-13
   remarks 137-char remark
6. 2026-06-13
   listed $90,000 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: $3,129 · $261/mo
• Projected year-2 tax: $3,129 · $261/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 ≥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: $15,886
• − Mortgage interest: −$5,041
• − Property taxes: −$3,129
• − Insurance: −$450
• − Repairs & maintenance: −$1,271
• − Management: −$1,271
• − Depreciation: −$2,618
• Taxable income: $2,106
• Est. tax owed @ 24.0%: −$505
• After-tax cash flow: $2,802/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

+73.1% since first listed

6 events — show timeline

• 2026-06-11 Listed $90,000 IRMLS
• 2021-04-08 Sold (MLS) $91,500 IRMLS
• 2020-09-24 Listed $87,500 IRMLS
• 2018-03-15 Sold (MLS) $79,900 IRMLS
• 2017-11-09 Listed $78,400 IRMLS
• 1999-11-01 Sold (Public Records) $52,000 Public Records

Property tax history

+6.5%/yr

Latest (2025): $3,129 · +134.4% YoY. Source: county tax records.