313 N West St · Milford, IN 46542

$99,000

3 bd · 1.5 ba · 1,104 sqft · SingleFamily public records · 23 Days on market

Built 1970 8,712 sqft lot Est $195k · 49% under ↓ 36% 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
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +8.6/10.0
• Livability +3.2/5.0
• Schools +3.1/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Motivated seller! Welcome to this cozy 3 bed 1.5 bath home in Wawasee schools. With some fixing up this home would make a great investment for someone looking to add to their portfolio or first home! With central AC, a storage shed, and a fenced in back yard this house is ready to make your own!

Key facts

• Central ac
• Storage shed
• Fenced in back yard

Tags

• CENTRAL AC
• STORAGE SHED
• FENCED IN BACK YARD

Property features AI

Exterior

• Utilities: Public water; Public sewer
• Home design: Manufactured home; Single-story
• Construction: Vinyl siding; Shingle roof
• Exterior features: Wood fencing; Level lot

Interior

• Bedrooms: Total rooms: 8
• Bathrooms: 1 full bathroom; 1 half bathroom; 2 main-level bathrooms
• Heating & cooling: Central air conditioning; Forced air heating
• Interior features: Crawl space basement; Main-level laundry
• Laundry & utility: Laundry on main level

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $99k.

Deal economics

• At list price, monthly cash flow is $455 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $99k).
• Recommended offer: $98k (1.5% below list) — sets the bar for market timing.

Location & tenants

• Location reads 63/100 on livability (#441 in IN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime B+; Watch: employment D, amenities F, commute F.
• Wawasee Community School Corporation (town): math 32% / reading 39% proficiency, ranked #179 of 301 in IN (top 60%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Milford School (math 32% / reading 36%, grade F, #627 of 994 statewide, top 63%, 449 students, 58% FRL); Wawasee Middle School (math 24% / reading 34%, grade F, #222 of 330 statewide, top 67%, 507 students, 50% FRL); Wawasee High School (math 27% / reading 56%, grade F, #211 of 369 statewide, top 58%, 909 students, 44% FRL).
• Market conditions: 21 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 261 units permitted in Kosciusko County in 2024 (10 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $684 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Kosciusko County population projected at +3% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $28k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 23 days — a 2% lower offer ($98k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $56k (36%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Recommended offer $97,515 (1.5% below list)

Questions for the listing agent

1. Built in 1970 — 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 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?
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: 1.36% ✓
• Cap rate: 11.81%
• Cash-on-cash: 19.69%
• DSCR: 1.88
• GRM: 6.1

CMA / ARV

• ARV (on-the-fly): $195,408
• Comps found: 8

Show comp detail 8 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
310 N West St	0.04mi	2/1.0 (-1)	1,152 (+4%)	1mo	$210,000	$182	83
108 N West St	0.19mi	2/2.0 (-1)	1,163 (+5%)	4mo	$176,000	$151	71
105 S James St	0.38mi	2/1.0 (-1)	1,056 (-4%)	11mo	$135,000	$128	59
211 E Fourth St	0.33mi	3/1.0	1,136 (+3%)	23mo	$149,900	$132	59
309 Heide Ln	0.60mi	3/2.0	1,108 (+0%)	15mo	$196,000	$177	57
202 Jeremy Dr	0.71mi	3/2.0	1,140 (+3%)	12mo	$228,500	$200	50
305 Alexis Dr	0.52mi	3/2.0	1,246 (+13%)	12mo	$235,000	$189	42
301 Heide Ln	0.57mi	3/2.0	1,248 (+13%)	22mo	$216,000	$173	31

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: 11.7%
• Equity multiple: 1.47×
• Total profit: $12,902
• Equity at exit: $14,761

10-year hold

• IRR: 20.7%
• Equity multiple: 2.75×
• Total profit: $48,429
• Equity at exit: $8,560

Cash invested: $27,720 (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 46542

• Home prices YoY: -7.2%
• Active inventory: 21
• Price-to-rent: 6.1×

Monthly cashflow live

• Estimated rent: $1,343 medium
• Mortgage (P&I): −$519
• Tax from tax record: −$45 /mo · $544/yr
• Insurance: −$41
• HOA: −$0
• Vacancy / Maint / Mgmt: −$282
• Net cashflow: $455

Break-even live

Break-even rent $767

Max offer price $99,000

Occupancy floor 61%

Sensitivity live

Price	-10% $511	-5% $483	+0% $455	+5% $427	+10% $399
Rent	-10% $349	-5% $402	+0% $455	+5% $508	+10% $561
Rate	-1.0pp $505	-0.5pp $480	base $455	+0.5pp $429	+1.0pp $403

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: $24,750
• Closing costs: $2,970
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
505 W Fourth St Milford, IN	1.0–2.0	1.0–2.0	712	$1,650	$2.32	22d	3	0.21mi
602 W Section St Milford, IN	2.0	1.0	800	$644	$0.81	22d	1	0.53mi

Listing history 5 events

1. 2026-05-15
   status Pending
2. 2026-05-13
   status Active
3. 2026-05-13
   price $99,000
4. 2026-04-25
   historical Active Under Contract
5. 2026-04-22
   listed $155,000 Active

ⓘ 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: $544 · $45/mo
• Projected year-2 tax: $693 · $58/mo
• Expected delta: +$149/yr (+$12/mo · 27.3%)

ⓘ 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 · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $16,112
• − Mortgage interest: −$5,546
• − Property taxes: −$544
• − Insurance: −$495
• − Repairs & maintenance: −$1,289
• − Management: −$1,289
• − Depreciation: −$2,880
• Taxable income: $4,069
• Est. tax owed @ 24.0%: −$977
• After-tax cash flow: $4,482/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: Wawasee Community School Corporation
• NCES district ID: 1805550
• Math proficiency: 32% ▼ -7.00%
• Reading proficiency: 39% ▼ -7.00%
• Median HH income: $52,439
• Composite: 30.97/100
• National rank: #6100
• State rank: #179 of 301 in IN

Livability — Milford

• Score: 63/100
• State rank: #441
• US rank: #15771

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Milford, IN
• Population (ZIP): 5,108

Population outlook (Kosciusko County) Hauer SSP2

• Today (2025): 81,747 people
• By 2030: 82,878 · +1.4%
• By 2040: 84,270 · +3.1%
• By 2050: 84,191 · +3.0%
• By 2075: 82,918 · +1.4%
• By 2100: 74,808 · -8.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (83%)
• Race & ethnicity: White 83% Hispanic / Latino 13% Two or more races 5% Asian 1%
• Hispanic origin (detail): Mexican 11%
• Common ancestry: Romanian 3% Iranian 3% Polish 1%
• Foreign-born: 5% · Canada, South Korea
• Languages at home: 80% English-only · German/W. Germanic 12% Spanish 8%

Political lean MEDSL · Kosciusko

• 2024 margin: Solid R (+52.3) · D 22.9% · R 75.2% · Other 1.9%
• 2008→2024 swing: -14.9pp toward R · 2008: -37.3pp · 2024: -52.3pp
• All cycles: 2024: R+52.3 2020: R+50.7 2016: R+55.1 2012: R+52.2 2008: R+37.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -21.15%
• Current HPI: 272.8868
• 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

-36.1% since first listed

5 events — show timeline

• 2026-05-15 Pending — IRMLS
• 2026-05-13 Relisted — IRMLS
• 2026-05-13 Price Changed $99,000 IRMLS
• 2026-04-25 Contingent — IRMLS
• 2026-04-22 Listed $155,000 IRMLS

Property tax history

+7.8%/yr

Latest (2024): $544 · +5.7% YoY. Source: county tax records.