6401 N Sunset Blvd · Nyona Lake, IN 46951

$107,000

2 bd · 1.0 ba · 1,313 sqft · SingleFamily public records · 23 Days on market

Built 1948 4,792 sqft lot

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Why this score? — see what drove the C- 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 +23.4/30.0
• DSCR +7.5/10.0
• ARV discount +7.5/15.0
• 1% rule +5.1/10.0
• Schools +2.6/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

One story home, recently remodeled, 1 car carport, public access to Nyona Lake, across from Mike's Pizza, use as year round home of for recreation in the warmer months. OWNER MOVED OUT OF STATE, MAKE OFFER!

Key facts

• Recently remodeled
• 4,792 sq ft lot
• Built 1948

Tags

• PUBLIC ACCESS TO NYONA LAKE
• RECENTLY REMODELED

Property features AI

Finance

• Financial info: Annual tax amount listed

Exterior

• Utilities: Private well water; Public sewer
• Home design: Single-family residence, site-built
• Construction: Vinyl siding; Block foundation; Built as a site-built home
• Exterior features: Level lot; No fencing

Interior

• Bathrooms: 1 full bathroom; Main level bathroom
• Heating & cooling: No cooling
• Interior features: Crawl space basement; Total of 5 rooms
• Laundry & utility: Laundry on main level

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $107k.

Deal economics

• At list price, monthly cash flow is $199 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $107k).
• Recommended offer: $105k (1.5% below list) — sets the bar for market timing.

Location & tenants

• Location reads: area grade C — affects rentability + tenant quality, not the cash-flow math above.
• Caston School Corporation (rural): math 27% / reading 33% proficiency, ranked #238 of 301 in IN (top 79%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Caston Elementary School (math 32% / reading 32%, grade F, #652 of 994 statewide, top 68%, 391 students, 68% FRL); Caston Jr-Sr High School (math 22% / reading 34%, grade F, #314 of 369 statewide, top 85%, 444 students, 60% FRL) — zoned schools average 64% FRL vs 35% district-wide (29 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 17 active listings in the ZIP; 23 units permitted in Fulton County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $740 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Fulton County population projected at -13% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 23 days — a 2% lower offer ($105k) is reasonable based on typical stale-listing flexibility.
• 8 sale attempts since 5y 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 $38k; list at $107k implies a 185% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1948 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $105,395 (1.5% below list)

Questions for the listing agent

1. Built in 1948 — 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. 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.
4. 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.
5. 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: 1.01% ✓
• Cap rate: 8.52%
• Cash-on-cash: 7.95%
• DSCR: 1.35
• GRM: 8.2

CMA / ARV

• ARV (on-the-fly): $271,791
• Comps found: 4

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3044 SE Lakeshore Dr	0.31mi	2/1.0	1,304 (-1%)	20mo	$270,000	$207	67
3516 E 650 S	0.61mi	1/0.5 (-1)	1,280 (-2%)	4mo	$170,000	$133	57
2941 Main St	0.07mi	3/1.0 (+1)	1,176 (-10%)	22mo	$244,900	$208	56
5786 N Lakeshore Dr	0.63mi	2/1.0	1,440 (+10%)	13mo	$60,000	$42	44

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: -4.2%
• Equity multiple: 0.84×
• Total profit: $-4,727
• Equity at exit: $15,954

10-year hold

• IRR: 5.4%
• Equity multiple: 1.40×
• Total profit: $12,033
• Equity at exit: $9,251

Cash invested: $29,960 (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 46951

• Home prices YoY: -16.5%
• Active inventory: 17
• Price-to-rent: 8.2×

Monthly cashflow live

• Estimated rent: $1,086 medium
• Mortgage (P&I): −$561
• Tax from tax record: −$53 /mo · $642/yr
• Insurance: −$45
• HOA: −$0
• Vacancy / Maint / Mgmt: −$228
• Net cashflow: $199

Break-even live

Break-even rent $834

Max offer price $107,000

Occupancy floor 77%

Sensitivity live

Price	-10% $259	-5% $229	+0% $199	+5% $168	+10% $138
Rent	-10% $113	-5% $156	+0% $199	+5% $241	+10% $284
Rate	-1.0pp $252	-0.5pp $226	base $199	+0.5pp $171	+1.0pp $143

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: $26,750
• Closing costs: $3,210
• Reserves months: —
• Total cash needed: —

Listing history 33 events

1. 2026-06-19
   days on market $107,000 Active 23 DOM
2. 2026-06-18
   days on market $107,000 Active 22 DOM
3. 2026-06-17
   days on market $107,000 Active 21 DOM
4. 2026-06-16
   days on market $107,000 Active 20 DOM
5. 2026-06-15
   days on market $107,000 Active 19 DOM
6. 2026-06-14
   days on market $107,000 Active 17 DOM
7. 2026-06-12
   days on market $107,000 Active 16 DOM
8. 2026-06-09
   days on market $107,000 Active 13 DOM
9. 2026-06-08
   days on market $107,000 Active 12 DOM
10. 2026-06-07
    days on market $107,000 Active 11 DOM
11. 2026-06-07
    days on market $107,000 Active 10 DOM
12. 2026-06-03
    days on market $107,000 Active 7 DOM
13. 2026-06-02
    days on market $107,000 Active 6 DOM
14. 2026-06-01
    days on market $107,000 Active 5 DOM
15. 2026-05-31
    days on market $107,000 Active 4 DOM
16. 2026-05-31
    days on market $107,000 Active 3 DOM
17. 2026-05-27
    listed $107,000 Active
18. 2026-02-11
    status Active
19. 2026-02-11
    price $97,000
20. 2026-01-15
    price $102,000
21. 2025-12-23
    price $104,000
22. 2025-11-26
    listed $107,000 Active
23. 2025-11-06
    listed $109,000 Active
24. 2025-07-09
    listed $69,000 Active
25. 2023-05-15
    soldstatus $37,500 Closed
26. 2023-05-02
    status Pending
27. 2023-03-24
    price $44,900
28. 2023-03-22
    status Active
29. 2023-02-28
    historical Active Under Contract
30. 2023-01-02
    listed $49,900 Active
31. 2022-07-19
    price $49,900
32. 2021-12-18
    listed $59,900 Active
33. 2009-02-09
    soldstatus $25,000

ⓘ 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: $642 · $53/mo
• Projected year-2 tax: $776 · $65/mo
• Expected delta: +$134/yr (+$11/mo · 20.9%)

ⓘ 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 · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $13,028
• − Mortgage interest: −$5,994
• − Property taxes: −$642
• − Insurance: −$535
• − Repairs & maintenance: −$1,042
• − Management: −$1,042
• − Depreciation: −$3,113
• Taxable income: $661
• Est. tax owed @ 24.0%: −$159
• After-tax cash flow: $2,224/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: Caston School Corporation
• NCES district ID: 1801410
• Math proficiency: 27% ▼ -9.00%
• Reading proficiency: 33% ▼ -12.00%
• Median HH income: $46,737
• Composite: 25.87/100
• National rank: #7346
• State rank: #238 of 301 in IN

Livability — Nyona Lake

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

Census & demographics

• Census place: Nyona Lake, IN
• Population (ZIP): 2,016

Population outlook (Fulton County) Hauer SSP2

• Today (2025): 19,537 people
• By 2030: 19,013 · -2.7%
• By 2040: 17,959 · -8.1%
• By 2050: 17,038 · -12.8%
• By 2075: 15,117 · -22.6%
• By 2100: 13,179 · -32.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (93%)
• Race & ethnicity: White 93% Two or more races 6%
• Common ancestry: Iranian 3% English 3% Italian 2%
• Foreign-born: 0%
• Languages at home: 97% English-only · German/W. Germanic 3%

Political lean MEDSL · Fulton

• 2024 margin: Solid R (+51.2) · D 23.7% · R 74.9% · Other 1.4%
• 2008→2024 swing: -35.2pp toward R · 2008: -16.0pp · 2024: -51.2pp
• All cycles: 2024: R+51.2 2020: R+48.2 2016: R+48.4 2012: R+33.2 2008: R+16.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -44.39%
• Current HPI: 224.6246
• 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

+328.0% since first listed

17 events — show timeline

• 2026-05-27 Listed $107,000 IRMLS
• 2026-02-11 Relisted — IRMLS
• 2026-02-11 Price Changed $97,000 IRMLS
• 2026-01-15 Price Changed $102,000 IRMLS
• 2025-12-23 Price Changed $104,000 IRMLS
• 2025-11-26 Listed $107,000 IRMLS
• 2025-11-06 Listed $109,000 IRMLS
• 2025-07-09 Listed $69,000 IRMLS
• 2023-05-15 Sold (MLS) $37,500 IRMLS
• 2023-05-02 Pending — IRMLS
• 2023-03-24 Price Changed $44,900 IRMLS
• 2023-03-22 Relisted — IRMLS
• 2023-02-28 Contingent — IRMLS
• 2023-01-02 Listed $49,900 IRMLS
• 2022-07-19 Price Changed $49,900 IRMLS
• 2021-12-18 Listed $59,900 IRMLS
• 2009-02-09 Sold (Public Records) $25,000 Public Records

Property tax history

+17.6%/yr

Latest (2024): $642 · -6.2% YoY. Source: county tax records.