10495 E State Road 8 Rd · Bass Lake, IN 46534

$209,900

3 bd · 1.5 ba · 1,456 sqft · SingleFamily public records · 56 Days on market

Built 1975 1.00 ac lot

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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 +16.7/30.0
• ARV discount +7.5/15.0
• DSCR +5.2/10.0
• 1% rule +3.4/10.0
• Livability +3.1/5.0
• Schools +2.6/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

BEAUTIFUL 3 BEDROOM RANCH ON AN ACRE IN THE COUNTRY - Excellent room layout with plenty of space. Open eat-in kitchen with newer cabinets, countertops and appliances. Large laundry room with additional storage. Newer custom hardwood flooring and paint throughout. Exterior includes covered porch and nice rear deck. 24X32 detached pole-barn garage with overhead doors. E State Road 8, Knox.

Key facts

• Nice deck
• Big garage
• Corner lot

Tags

• CORNER LOT
• BIG GARAGE
• NICE DECK

Property features AI

Exterior

• Parking: Detached 2-car garage
• Utilities: Private well water; Septic tank sewer
• Home design: Single-family residence, site-built; One story
• Construction: Vinyl siding
• Exterior features: 1 acre lot; Lot dimensions approximately 208 x 208

Interior

• Bedrooms: Total rooms: 7
• Bathrooms: 1 full bathroom; 1 half bathroom; 2 main level bathrooms
• Heating & cooling: Propane forced air heating; No cooling
• Interior features: Living room fireplace; Crawl space basement
• Laundry & utility: Main level laundry

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $210k.

Deal economics

• At list price, monthly cash flow is $129 ($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 $176k (16.1% below list).
• Recommended offer: $176k (16.1% below list) — sets the bar for 1% rule.
• Cap rate 7.0% vs local median 4.5% in Bass Lake — 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 61/100 on livability (#494 in IN) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A; Watch: employment C-, amenities F, commute F.
• 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: 146 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 $1k of loan paydown is wiped out by about $6k 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

• It's been on market 56 days — a 3% lower offer ($204k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 14y 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 $165k; 27% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Recommended offer $176,159 (16.1% below list)

Questions for the listing agent

1. It's been on market 56 days. Have you received any prior offers? Is the seller open to a 16% concession, seller financing, or rate buy-down credit?
2. Built in 1975 — 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 F-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: 0.84% ✗
• Cap rate: 7.03%
• Cash-on-cash: 2.63%
• DSCR: 1.12
• GRM: 9.9

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: -12.2%
• Equity multiple: 0.56×
• Total profit: $-25,901
• Equity at exit: $31,297

10-year hold

• IRR: -3.1%
• Equity multiple: 0.79×
• Total profit: $-12,355
• Equity at exit: $18,148

Cash invested: $58,772 (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 46534

• Home prices YoY: -19.2%
• Active inventory: 146
• Price-to-rent: 9.9×

Monthly cashflow live

• Estimated rent: $1,762 medium
• Mortgage (P&I): −$1,101
• Tax from tax record: −$75 /mo · $896/yr
• Insurance: −$87
• HOA: −$0
• Vacancy / Maint / Mgmt: −$370
• Net cashflow: $129

Break-even live

Break-even rent $1,599

Max offer price $209,900

Occupancy floor 88%

Sensitivity live

Price	-10% $248	-5% $188	+0% $129	+5% $69	+10% $10
Rent	-10% $-10	-5% $59	+0% $129	+5% $198	+10% $268
Rate	-1.0pp $234	-0.5pp $182	base $129	+0.5pp $74	+1.0pp $19

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: $52,475
• Closing costs: $6,297
• Reserves months: —
• Total cash needed: —

Listing history 18 events

1. 2026-05-07
   status Pending
2. 2026-05-07
   historical
3. 2026-05-01
   status Pending
4. 2026-04-16
   listed $209,900 Active
5. 2026-04-13
   soldstatus Closed
6. 2026-04-03
   price $209,900
7. 2026-03-03
   listed $219,900 Active
8. 2021-12-07
   soldstatus $165,000 Closed 390-char remark

   Show marketing remark (390 chars)

   BEAUTIFUL 3 BEDROOM RANCH ON AN ACRE IN THE COUNTRY - Excellent room layout with plenty of space. Open eat-in kitchen with newer cabinets, countertops and appliances. Large laundry room with additional storage. Newer custom hardwood flooring and paint throughout. Exterior includes covered porch and nice rear deck. 24X32 detached pole-barn garage with overhead doors. E State Road 8, Knox.

9. 2021-12-07
   soldstatus $165,000 390-char remark

   Show marketing remark (390 chars)

   BEAUTIFUL 3 BEDROOM RANCH ON AN ACRE IN THE COUNTRY - Excellent room layout with plenty of space. Open eat-in kitchen with newer cabinets, countertops and appliances. Large laundry room with additional storage. Newer custom hardwood flooring and paint throughout. Exterior includes covered porch and nice rear deck. 24X32 detached pole-barn garage with overhead doors. E State Road 8, Knox.

10. 2021-10-01
    historical 390-char remark

    Show marketing remark (390 chars)

    BEAUTIFUL 3 BEDROOM RANCH ON AN ACRE IN THE COUNTRY - Excellent room layout with plenty of space. Open eat-in kitchen with newer cabinets, countertops and appliances. Large laundry room with additional storage. Newer custom hardwood flooring and paint throughout. Exterior includes covered porch and nice rear deck. 24X32 detached pole-barn garage with overhead doors. E State Road 8, Knox.

11. 2021-09-28
    listed $164,900 390-char remark

    Show marketing remark (390 chars)

    BEAUTIFUL 3 BEDROOM RANCH ON AN ACRE IN THE COUNTRY - Excellent room layout with plenty of space. Open eat-in kitchen with newer cabinets, countertops and appliances. Large laundry room with additional storage. Newer custom hardwood flooring and paint throughout. Exterior includes covered porch and nice rear deck. 24X32 detached pole-barn garage with overhead doors. E State Road 8, Knox.

12. 2021-09-28
    listed $164,900 390-char remark

    Show marketing remark (390 chars)

    BEAUTIFUL 3 BEDROOM RANCH ON AN ACRE IN THE COUNTRY - Excellent room layout with plenty of space. Open eat-in kitchen with newer cabinets, countertops and appliances. Large laundry room with additional storage. Newer custom hardwood flooring and paint throughout. Exterior includes covered porch and nice rear deck. 24X32 detached pole-barn garage with overhead doors. E State Road 8, Knox.

13. 2013-07-12
    soldstatus $83,000
14. 2013-07-12
    soldstatus $83,000
15. 2013-03-11
    listed $92,900
16. 2013-03-11
    listed $92,900
17. 2012-12-18
    soldstatus $40,000
18. 2012-10-26
    listed $50,000

ⓘ 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: $896 · $75/mo
• Projected year-2 tax: $1,340 · $112/mo
• Expected delta: +$444/yr (+$37/mo · 49.5%)

ⓘ 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 ≥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: $21,139
• − Mortgage interest: −$11,758
• − Property taxes: −$896
• − Insurance: −$1,050
• − Repairs & maintenance: −$1,691
• − Management: −$1,691
• − Depreciation: −$6,106
• Taxable loss: −$2,053
• Est. tax savings @ 24.0%: +$493
• After-tax cash flow: $2,038/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 — Bass Lake

• Score: 61/100
• State rank: #494
• US rank: #17594

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 11,029

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 (92%)
• Race & ethnicity: White 92% Hispanic / Latino 4% Two or more races 3%
• Common ancestry: Romanian 5% Lithuanian 2% Slovak 2%
• Foreign-born: 2% · Canada
• Languages at home: 96% English-only · Spanish 2% Other Indo-European 2% German/W. Germanic 1%

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: ▼ -58.15%
• Current HPI: 244.2216
• 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

+319.8% since first listed

18 events — show timeline

• 2026-05-07 Pending — IRMLS
• 2026-05-07 Delisted — IRMLS
• 2026-05-01 Pending — IRMLS
• 2026-04-16 Listed $209,900 IRMLS
• 2026-04-13 Sold (MLS) — IRMLS
• 2026-04-03 Price Changed $209,900 IRMLS
• 2026-03-03 Listed $219,900 IRMLS
• 2021-12-07 Sold (MLS) $165,000 IRMLS
• 2021-12-07 Sold (MLS) $165,000 NIRA MLS as Distributed by MLS Grid
• 2021-10-01 Listing Removed — NIRA MLS as Distributed by MLS Grid
• 2021-09-28 Listed $164,900 NIRA MLS as Distributed by MLS Grid
• 2021-09-28 Listed $164,900 IRMLS
• 2013-07-12 Sold (MLS) $83,000 NIRA MLS as Distributed by MLS Grid
• 2013-07-12 Sold (MLS) $83,000 NIRA MLS as Distributed by MLS Grid
• 2013-03-11 Listed $92,900 NIRA MLS as Distributed by MLS Grid
• 2013-03-11 Listed $92,900 NIRA MLS as Distributed by MLS Grid
• 2012-12-18 Sold (MLS) $40,000 NIRA MLS as Distributed by MLS Grid
• 2012-10-26 Listed $50,000 NIRA MLS as Distributed by MLS Grid

Property tax history

+25.8%/yr

Latest (2024): $896 · +6.1% YoY. Source: county tax records.