2869 N Eel River Cemetery Rd · Mexico, IN 46970

$150,000

2 bd · 1.0 ba · 1,920 sqft · SingleFamily public records · 33 Days on market

Built 1986

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Why this score? — see what drove the F 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 +9.2/30.0
• ARV discount +7.5/15.0
• Livability +3.2/5.0
• Schools +2.9/10.0
• DSCR +2.6/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +2.3/10.0
• Appreciation +0.0/10.0

Listing remarks

Let renters stay in it definitely a fixer upper not move in ready 150k or best offer

Key facts

• Built 1986
• Listed 32 days

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $150k.

Deal economics

• At list price, monthly cash flow is $-112 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $130k (13.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $110k (26.8% below list).
• Recommended offer: $110k (26.8% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 63/100 on livability (#413 in IN) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A-; Watch: schools F, amenities F, commute F.
• North Miami Community Schools (rural): math 26% / reading 42% proficiency, ranked #197 of 301 in IN (top 65%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 129 active listings in the ZIP; 35 units permitted in Miami 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 $4k of value loss. Plan a longer hold.
• Miami County population projected at -12% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 33 days — a 3% lower offer ($146k) is reasonable based on typical stale-listing flexibility.

Recommended offer $109,777 (26.8% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 33 days. Have you received any prior offers? Is the seller open to a 27% concession, seller financing, or rate buy-down credit?
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: 0.73% ✗
• Cap rate: 5.40%
• Cash-on-cash: -3.20%
• DSCR: 0.86
• GRM: 11.4

CMA / ARV

• ARV (on-the-fly): $336,000
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
4246 W 300 N	0.22mi	3/2.5 (+1)	1,886 (-2%)	24mo	$330,000	$175	56

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: -21.7%
• Equity multiple: 0.25×
• Total profit: $-31,466
• Equity at exit: $22,365

10-year hold

• IRR: -15.5%
• Equity multiple: 0.13×
• Total profit: $-36,671
• Equity at exit: $12,969

Cash invested: $42,000 (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 46970

• Home prices YoY: -8.8%
• Active inventory: 129
• Price-to-rent: 11.4×

Monthly cashflow live

• Estimated rent: $1,098 medium
• Mortgage (P&I): −$787
• Tax from tax record: −$130 /mo · $1,563/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$231
• Net cashflow: $-112

Break-even live

Break-even rent $1,240

Max offer price $130,193

Occupancy floor —

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: $37,500
• Closing costs: $4,500
• Reserves months: —
• Total cash needed: —

Listing history 17 events

1. 2026-06-19
   days on market $150,000 Active 33 DOM
2. 2026-06-18
   days on market $150,000 Active 32 DOM
3. 2026-06-17
   days on market $150,000 Active 31 DOM
4. 2026-06-16
   days on market $150,000 Active 30 DOM
5. 2026-06-15
   days on market $150,000 Active 29 DOM
6. 2026-06-14
   days on market $150,000 Active 27 DOM
7. 2026-06-12
   days on market $150,000 Active 26 DOM
8. 2026-06-09
   days on market $150,000 Active 23 DOM
9. 2026-06-08
   days on market $150,000 Active 22 DOM
10. 2026-06-07
    days on market $150,000 Active 21 DOM
11. 2026-06-07
    days on market $150,000 Active 20 DOM
12. 2026-06-03
    days on market $150,000 Active 17 DOM
13. 2026-06-02
    days on market $150,000 Active 16 DOM
14. 2026-06-01
    days on market $150,000 Active 15 DOM
15. 2026-05-31
    days on market $150,000 Active 14 DOM
16. 2026-05-31
    days on market $150,000 Active 13 DOM
17. 2026-05-18
    listed $150,000 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: $1,563 · $130/mo
• Projected year-2 tax: $1,563 · $130/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 3/10 Moderate 7 d/yr ≥102°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: $13,173
• − Mortgage interest: −$8,402
• − Property taxes: −$1,563
• − Insurance: −$750
• − Repairs & maintenance: −$1,054
• − Management: −$1,054
• − Depreciation: −$4,364
• Taxable loss: −$4,013
• Est. tax savings @ 24.0%: +$963
• After-tax cash flow: $-382/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: North Miami Community Schools
• NCES district ID: 1807890
• Math proficiency: 26% ▼ -10.00%
• Reading proficiency: 42% ▼ -3.00%
• Median HH income: $49,863
• Composite: 29.45/100
• National rank: #6513
• State rank: #197 of 301 in IN

Livability — Mexico

• Score: 63/100
• State rank: #413
• US rank: #14947

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Miami County · 23,020 people
• City population: 603
• Metro: Peru, IN
• Population (ZIP): 23,020
• Household income: $57,842
• Rent vs Own: 28.5% rent · 71.5% own
• Severe rent burden: 498.0

Population outlook (Miami County) Hauer SSP2

• Today (2025): 34,421 people
• By 2030: 33,571 · -2.5%
• By 2040: 31,919 · -7.3%
• By 2050: 30,313 · -11.9%
• By 2075: 26,202 · -23.9%
• By 2100: 20,856 · -39.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (87%)
• Race & ethnicity: White 87% Two or more races 6% Hispanic / Latino 4% Black 3%
• Common ancestry: Iranian 2% Romanian 2% Slovak 2%
• Foreign-born: 1% · Canada
• Languages at home: 97% English-only · Spanish 2% German/W. Germanic 0%

Political lean MEDSL · Miami

• 2024 margin: Solid R (+54.5) · D 21.8% · R 76.3% · Other 1.9%
• 2008→2024 swing: -35.1pp toward R · 2008: -19.5pp · 2024: -54.5pp
• All cycles: 2024: R+54.5 2020: R+53.1 2016: R+53.6 2012: R+30.9 2008: R+19.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -24.29%
• Current HPI: 252.7166
• Rent YoY: —
• Metro: Peru, IN
• 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

1 event — show timeline

• 2026-05-18 Listed $150,000 FSBO.com

Property tax history

+16.5%/yr

Latest (2024): $1,563 · +43.7% YoY. Source: county tax records.