1006 N Wayne St · Warren, IN 46792

$87,400

2 bd · 1.0 ba · 1,025 sqft · SingleFamily public records · 52 Days on market

Built 1900 0.46 ac lot Est $154k · 43% 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 +15.0/15.0
• DSCR +7.0/10.0
• 1% rule +6.0/10.0
• Livability +3.6/5.0
• Schools +3.1/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +1.4/10.0

Listing remarks

One-story 2-bedroom, 1-bath home on a generous lot with off-street parking. Needs some TLC but the major, big-ticket items have already been addressed—bring your updates and design ideas. Ideal for first-time buyers or investors looking for value and upside in a spacious footprint.

Key facts

• 0.46 acre lot
• Built 1900
• Listed 51 days

Property features AI

Exterior

• Parking: Off-street parking
• Utilities: Public water; Public sewer
• Home design: Single-family residence; Site-built home; One story
• Construction: Vinyl siding; Built with traditional site-built construction
• Exterior features: Covered, enclosed porch

Interior

• Kitchen: Refrigerator; Gas range
• Bedrooms: 5 total rooms (includes bedrooms and other living spaces)
• Bathrooms: 1 full bathroom (main level)
• Heating & cooling: Electric heating; Baseboard heating; Ceiling fans; Window air conditioning units
• Interior features: Ceiling fan(s); Crawl space basement
• Laundry & utility: Electric dryer hookup; Dryer included

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $87k.

Deal economics

• At list price, monthly cash flow is $138 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($963 rent vs $87k).
• Recommended offer: $85k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 71/100 on livability (#137 in IN) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: health & safety C-, amenities F, commute F.
• Huntington County Community School Corporation (rural): math 34% / reading 39% proficiency, ranked #176 of 301 in IN (top 58%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Salamonie Elementary School (math 52% / reading 42%, grade D-, #325 of 994 statewide, top 36%, 286 students, 46% FRL); Riverview School (math 29% / reading 40%, grade F, #167 of 330 statewide, top 52%, 503 students, 54% FRL); Huntington North High School (math 30% / reading 55%, grade F, #195 of 369 statewide, top 53%, 1,424 students, 42% FRL).
• Market conditions: 11 active listings in the ZIP; 79 units permitted in Huntington County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $604 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Huntington County population projected at -14% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 52 days — a 3% lower offer ($85k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $22k; list at $87k implies a 288% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $84,778 (3.0% below list)

Questions for the listing agent

1. It's been on market 52 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1900 — 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. 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: 1.10% ✓
• Cap rate: 8.19%
• Cash-on-cash: 6.79%
• DSCR: 1.30
• GRM: 7.6

CMA / ARV

• ARV (on-the-fly): $153,750
• Comps found: 6

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
911 N Wayne St	0.08mi	2/1.0	972 (-5%)	6mo	$150,000	$154	83
907 N Main St	0.09mi	3/1.0 (+1)	960 (-6%)	5mo	$160,000	$167	76
111 Hendricks St	0.67mi	1/1.0 (-1)	1,081 (+6%)	11mo	$85,000	$79	46
311 E 3rd St	0.50mi	3/1.0 (+1)	1,096 (+7%)	21mo	$150,000	$137	42
101 College St	0.65mi	2/1.0	1,177 (+15%)	16mo	$115,000	$98	32
126 College St	0.58mi	2/1.0	882 (-14%)	24mo	$132,000	$150	30

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: -5.8%
• Equity multiple: 0.78×
• Total profit: $-5,316
• Equity at exit: $13,032

10-year hold

• IRR: 3.8%
• Equity multiple: 1.28×
• Total profit: $6,834
• Equity at exit: $7,557

Cash invested: $24,472 (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 46792

• Home prices YoY: -2.9%
• Active inventory: 11
• Price-to-rent: 7.6×

Monthly cashflow live

• Estimated rent: $963 medium
• Mortgage (P&I): −$458
• Tax from tax record: −$128 /mo · $1,532/yr
• Insurance: −$36
• HOA: −$0
• Vacancy / Maint / Mgmt: −$202
• Net cashflow: $138

Break-even live

Break-even rent $788

Max offer price $87,400

Occupancy floor 81%

Sensitivity live

Price	-10% $188	-5% $163	+0% $138	+5% $114	+10% $89
Rent	-10% $62	-5% $100	+0% $138	+5% $177	+10% $215
Rate	-1.0pp $183	-0.5pp $161	base $138	+0.5pp $116	+1.0pp $93

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: $21,850
• Closing costs: $2,622
• Reserves months: —
• Total cash needed: —

Listing history 19 events

1. 2026-06-21
   days on market $87,400 Active 52 DOM
2. 2026-06-19
   days on market $87,400 Active 50 DOM
3. 2026-06-18
   days on market $87,400 Active 49 DOM
4. 2026-06-17
   days on market $87,400 Active 48 DOM
5. 2026-06-16
   days on market $87,400 Active 47 DOM
6. 2026-06-15
   days on market $87,400 Active 46 DOM
7. 2026-06-14
   days on market $87,400 Active 44 DOM
8. 2026-06-12
   pricedays on market $87,400 Active 43 DOM
9. 2026-06-09
   days on market $89,900 Active 40 DOM
10. 2026-06-08
    days on market $89,900 Active 39 DOM
11. 2026-06-07
    days on market $89,900 Active 38 DOM
12. 2026-06-05
    days on market $89,900 Active 35 DOM
13. 2026-06-03
    days on market $89,900 Active 34 DOM
14. 2026-06-02
    days on market $89,900 Active 33 DOM
15. 2026-06-01
    days on market $89,900 Active 32 DOM
16. 2026-05-31
    days on market $89,900 Active 31 DOM
17. 2026-05-30
    days on market $89,900 Active 30 DOM
18. 2026-04-28
    listed $89,900 Active
19. 2011-02-18
    soldstatus $22,500

ⓘ 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: $1,532 · $128/mo
• Projected year-2 tax: $1,532 · $128/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 ≥100°F today · 17 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $11,558
• − Mortgage interest: −$4,896
• − Property taxes: −$1,532
• − Insurance: −$437
• − Repairs & maintenance: −$925
• − Management: −$925
• − Depreciation: −$2,543
• Taxable income: $302
• Est. tax owed @ 24.0%: −$72
• After-tax cash flow: $1,590/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: Huntington County Community School Corporation
• NCES district ID: 1804710
• Math proficiency: 34% ▼ -6.00%
• Reading proficiency: 39% ▼ -10.00%
• Median HH income: $47,010
• Composite: 31.29/100
• National rank: #6013
• State rank: #176 of 301 in IN

Livability — Warren

• Score: 71/100
• State rank: #137
• US rank: #7126

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Warren, IN
• Population (ZIP): 3,577

Population outlook (Huntington County) Hauer SSP2

• Today (2025): 35,613 people
• By 2030: 34,759 · -2.4%
• By 2040: 32,682 · -8.2%
• By 2050: 30,495 · -14.4%
• By 2075: 26,298 · -26.2%
• By 2100: 22,653 · -36.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (95%)
• Race & ethnicity: White 95% Two or more races 3% Hispanic / Latino 1%
• Common ancestry: Italian 5% Slovak 2% Lithuanian 2%
• Foreign-born: 1%
• Languages at home: 98% English-only · Spanish 1%

Political lean MEDSL · Huntington

• 2024 margin: Solid R (+48.4) · D 24.9% · R 73.3% · Other 1.8%
• 2008→2024 swing: -21.2pp toward R · 2008: -27.2pp · 2024: -48.4pp
• All cycles: 2024: R+48.4 2020: R+49.9 2016: R+51.0 2012: R+39.8 2008: R+27.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -7.11%
• Current HPI: 238.5693
• 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

+299.6% since first listed

2 events — show timeline

• 2026-04-28 Listed $89,900 IRMLS
• 2011-02-18 Sold (Public Records) $22,500 Public Records

Property tax history

+5.1%/yr

Latest (2024): $1,532 · +18.0% YoY. Source: county tax records.