524 S Meridian St · Dunkirk, IN 47336

$109,900

2 bd · 2.0 ba · 1,250 sqft · SingleFamily public records · 21 Days on market

Built 1952 7,841 sqft lot Est $119k · 7% under

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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 +22.0/30.0
• ARV discount +10.9/15.0
• DSCR +7.0/10.0
• Appreciation +6.8/10.0
• 1% rule +4.5/10.0
• Schools +3.2/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Two bedroom home on a corner lot, 2 full baths, large living room, and family room. Nice covered porch. Roof 2015, gutters 2018. Privacy fenced-in yard, 10x10 gazebo that has screens to keep the bugs out. 13x8 den that could be used as a bedroom. One car attached garage + a one car carport that is all under roof to the home. Eat-in kitchen. Walking distance to Westlawn Elementary. Taxes are $0 due to exemptions. Without exemptions taxes would approximately be $831/yr.

Key facts

• 7,841 sq ft lot
• Garage
• Built 1952

Property features AI

Finance

• Other: Lot dimensions approximately 60 x 130 (about 0.18 acre)

Exterior

• Parking: Attached driveway and garage; 1 garage space
• Utilities: Public water; Public sewer; Natural gas
• Home design: Single-family, site-built home; One-story
• Construction: Aluminum siding; Shingle/asphalt roof; Slab foundation; Built in 1,250 finished square feet
• Exterior features: Covered porch; Fenced yard with full privacy wood fencing; Level lot

Interior

• Kitchen: Gas range
• Bedrooms: Total of 6 rooms (includes bedrooms and living spaces)
• Flooring: Carpet; Vinyl
• Bathrooms: 2 full bathrooms (both on the main level)
• Heating & cooling: Natural gas forced-air heating; Window air conditioning units
• Interior features: Laminate counters; Built-in features; Window treatments; Crawl space basement
• Laundry & utility: Gas dryer hookup on the main level; Gas water heater

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath single-family listed at $110k.

Deal economics

• At list price, monthly cash flow is $175 ($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 $104k (5.4% below list).
• Recommended offer: $104k (5.4% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 64/100 on livability (#404 in IN) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: health & safety D, amenities F, commute F.
• Jay School Corporation (rural): math 38% / reading 37% proficiency, ranked #175 of 301 in IN (top 58%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: West Jay Elementary (math 42% / reading 32%, grade F, #550 of 994 statewide, top 57%, 249 students, 75% FRL); Jay County Jr/Sr High School (math 34% / reading 41%, grade F, #245 of 369 statewide, top 67%, 1,242 students, 50% FRL) — zoned schools average 62% FRL vs 44% district-wide (19 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 32 active listings in the ZIP; 19 units permitted in Jay County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $5k of equity ($760 loan paydown + $4k appreciation (3.6% local appreciation)).
• Jay County population projected at -12% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (3.6% appreciation + 3.0% rent growth), your $31k cash investment doubles in ~5 years — after that, you're playing with house money.
• By year 7, paydown + projected appreciation supports a ~$30k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 21 days — a 2% lower offer ($108k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 7y 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 $45k; list at $110k implies a 145% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1952 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $104,015 (5.4% below list)

Questions for the listing agent

1. Built in 1952 — 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: 0.95% ✗
• Cap rate: 8.20%
• Cash-on-cash: 6.81%
• DSCR: 1.30
• GRM: 8.8

CMA / ARV

• ARV (on-the-fly): $118,750
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
922 S Main St	0.27mi	2/1.0	1,268 (+1%)	10mo	$55,500	$44	72
201 S Meridian St	0.22mi	3/1.0 (+1)	1,312 (+5%)	5mo	$125,000	$95	69
202 Shadyside St	0.73mi	2/1.0	1,224 (-2%)	1mo	$142,500	$116	58
724 S Main St	0.17mi	2/1.0	1,388 (+11%)	14mo	$109,900	$79	58
121 E Center St	0.36mi	2/1.0	1,376 (+10%)	6mo	$103,000	$75	57
218 Moore Ave	0.33mi	3/1.5 (+1)	1,188 (-5%)	17mo	$135,000	$114	56
631 N Hickory St	0.64mi	3/2.0 (+1)	1,274 (+2%)	9mo	$142,000	$111	54
161 Orange Ave	0.26mi	3/1.0 (+1)	1,388 (+11%)	9mo	$75,000	$54	53
141 Highland Ave	0.67mi	2/1.0	1,165 (-7%)	4mo	$104,000	$89	50
434 N Main St	0.56mi	3/1.0 (+1)	1,146 (-8%)	3mo	$91,000	$79	49
334 Moore Ave	0.39mi	3/1.5 (+1)	1,428 (+14%)	11mo	$168,000	$118	42
235 Moore Ave	0.36mi	3/1.5 (+1)	1,075 (-14%)	14mo	$163,000	$152	41

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

3.64% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 15.4%
• Equity multiple: 1.91×
• Total profit: $28,069
• Equity at exit: $53,423

10-year hold

• IRR: 16.6%
• Equity multiple: 3.59×
• Total profit: $79,748
• Equity at exit: $85,594

Cash invested: $30,772 (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 47336

• Home prices YoY: 1.6%
• Active inventory: 32
• Price-to-rent: 8.8×

Monthly cashflow live

• Estimated rent: $1,040 medium
• Mortgage (P&I): −$576
• Tax from tax record: −$25 /mo · $301/yr
• Insurance: −$46
• HOA: −$0
• Vacancy / Maint / Mgmt: −$218
• Net cashflow: $175

Break-even live

Break-even rent $819

Max offer price $109,900

Occupancy floor 78%

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: $27,475
• Closing costs: $3,297
• Reserves months: —
• Total cash needed: —

Listing history 11 events

1. 2026-06-04
   statusdays on market $109,900 Pending 21 DOM
2. 2026-06-02
   days on market $109,900 Active 20 DOM
3. 2026-06-01
   days on market $109,900 Active 19 DOM
4. 2026-05-31
   days on market $109,900 Active 18 DOM
5. 2026-05-31
   days on market $109,900 Active 17 DOM
6. 2026-05-21
   status Active
7. 2026-04-17
   status Pending
8. 2026-04-08
   listed $109,900 Active
9. 2019-10-23
   soldstatus $44,900 473-char remark

   Show marketing remark (473 chars)

   Two bedroom home on a corner lot, 2 full baths, large living room, and family room. Nice covered porch. Roof 2015, gutters 2018. Privacy fenced-in yard, 10x10 gazebo that has screens to keep the bugs out. 13x8 den that could be used as a bedroom. One car attached garage + a one car carport that is all under roof to the home. Eat-in kitchen. Walking distance to Westlawn Elementary. Taxes are $0 due to exemptions. Without exemptions taxes would approximately be $831/yr.

10. 2019-08-07
    listed $44,900 473-char remark

    Show marketing remark (473 chars)

    Two bedroom home on a corner lot, 2 full baths, large living room, and family room. Nice covered porch. Roof 2015, gutters 2018. Privacy fenced-in yard, 10x10 gazebo that has screens to keep the bugs out. 13x8 den that could be used as a bedroom. One car attached garage + a one car carport that is all under roof to the home. Eat-in kitchen. Walking distance to Westlawn Elementary. Taxes are $0 due to exemptions. Without exemptions taxes would approximately be $831/yr.

11. 2019-06-13
    listed $45,000

ⓘ 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: $301 · $25/mo
• Projected year-2 tax: $618 · $51/mo
• Expected delta: +$317/yr (+$26/mo · 105.2%)

ⓘ 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 ≥99°F today · 18 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $12,482
• − Mortgage interest: −$6,156
• − Property taxes: −$301
• − Insurance: −$550
• − Repairs & maintenance: −$999
• − Management: −$999
• − Depreciation: −$3,197
• Taxable income: $281
• Est. tax owed @ 24.0%: −$67
• After-tax cash flow: $2,027/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: Jay School Corporation
• NCES district ID: 1804980
• Math proficiency: 38% ▼ -13.00%
• Reading proficiency: 37% ▼ -13.00%
• Median HH income: $40,841
• Composite: 31.56/100
• National rank: #5954
• State rank: #175 of 301 in IN

Livability — Dunkirk

• Score: 64/100
• State rank: #404
• US rank: #14764

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Dunkirk, IN
• Population (ZIP): 2,793

Population outlook (Jay County) Hauer SSP2

• Today (2025): 20,586 people
• By 2030: 20,155 · -2.1%
• By 2040: 19,274 · -6.4%
• By 2050: 18,203 · -11.6%
• By 2075: 15,062 · -26.8%
• By 2100: 10,857 · -47.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (95%)
• Race & ethnicity: White 95% Two or more races 3% Hispanic / Latino 2%
• Common ancestry: Italian 4% Slovak 2% Scotch-Irish 1%
• Foreign-born: 0%
• Languages at home: 98% English-only · Spanish 1%

Political lean MEDSL · Jay

• 2024 margin: Solid R (+55.2) · D 21.6% · R 76.7% · Other 1.7%
• 2008→2024 swing: -47.3pp toward R · 2008: -7.8pp · 2024: -55.2pp
• All cycles: 2024: R+55.2 2020: R+52.4 2016: R+47.8 2012: R+20.0 2008: R+7.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 3.64%
• Current HPI: 238.768
• 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

+144.2% since first listed

6 events — show timeline

• 2026-05-21 Relisted — IRMLS
• 2026-04-17 Pending — IRMLS
• 2026-04-08 Listed $109,900 IRMLS
• 2019-10-23 Sold (MLS) $44,900 IRMLS
• 2019-08-07 Listed $44,900 IRMLS
• 2019-06-13 Listed $45,000 IRMLS

Property tax history

+1.8%/yr

Latest (2024): $301 · -11.8% YoY. Source: county tax records.