920 W Rogers St · Osceola, IN 46561

$65,000

2 bd · 1.0 ba · 736 sqft · SingleFamily public records · 6 Days on market

Built 1939 0.28 ac lot

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +5.1/10.0
• Livability +3.5/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Home on a double lot in Penn School District! Well, Septic and Roof are all less then 12 years old!

Key facts

• Electric box
• Investment property
• Double lot

Tags

• INVESTMENT PROPERTY
• OPEN CANVAS
• DOUBLE LOT
• PENN SCHOOL DISTRICT
• ELECTRIC BOX
• FURNACE

Property features AI

Exterior

• Utilities: Well water; Septic sewer
• Home design: Single-family residential, site-built home; One story
• Construction: Aluminum siding; Built as site-built construction
• Exterior features: Patio; Shed(s); Level lot

Interior

• Bedrooms: Total of 4 rooms (includes bedrooms and living spaces)
• Bathrooms: One half bathroom; One main level bathroom
• Heating & cooling: Natural gas forced-air heating; No cooling
• Interior features: One fireplace; Crawl space basement
• Laundry & utility: Laundry on the main level

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $65k.

Deal economics

• At list price, monthly cash flow is $569 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $65k).
• Cap rate 16.8% vs local median 3.4% in Osceola — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 70/100 on livability (#144 in IN) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F, health & safety D-.
• Penn-Harris-Madison School Corporation (suburban): math 54% / reading 64% proficiency, ranked #19 of 301 in IN (top 6%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Moran Elementary School (math 63% / reading 63%, grade B, #99 of 994 statewide, top 10%, 431 students, 41% FRL); Virgil I Grissom Middle School (math 25% / reading 45%, grade F, #164 of 330 statewide, top 50%, 678 students, 46% FRL); Penn High School (math 53% / reading 83%, grade B, #22 of 369 statewide, top 6%, 3,624 students, 27% FRL) — zoned schools average 38% FRL vs 21% district-wide (17 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 112 active listings in the ZIP; 754 units permitted in St. Joseph County in 2024 (460 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $449 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $18k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 10y 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 $15k; list at $65k implies a 333% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1939 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $65,000

Questions for the listing agent

1. Built in 1939 — 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: 1.89% ✓
• Cap rate: 16.81%
• Cash-on-cash: 37.55%
• DSCR: 2.67
• GRM: 4.4

CMA / ARV

• ARV (on-the-fly): $152,352
• Comps found: 8

Show comp detail 8 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
108 N Olive St	0.42mi	2/1.0	720 (-2%)	2mo	$155,000	$215	75
202 N Erie St	0.30mi	2/1.0	676 (-8%)	12mo	$130,000	$192	62
522 Garfield St	0.53mi	1/1.0 (-1)	764 (+4%)	3mo	$200,000	$262	62
306 S Apple Rd	0.63mi	2/1.0	800 (+9%)	0mo	$170,000	$213	56
316 S Chestnut St	0.59mi	2/1.0	704 (-4%)	20mo	$120,000	$170	48
317 W Adams St	0.53mi	2/1.0	692 (-6%)	21mo	$78,000	$113	48
840 Griffith St	0.57mi	2/1.0	680 (-8%)	19mo	$133,600	$196	45
312 S Apple Rd	0.64mi	2/1.0	798 (+8%)	17mo	$165,000	$207	42

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: 33.5%
• Equity multiple: 2.41×
• Total profit: $25,724
• Equity at exit: $9,692

10-year hold

• IRR: 40.4%
• Equity multiple: 4.79×
• Total profit: $69,053
• Equity at exit: $5,620

Cash invested: $18,200 (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 46561

• Home prices YoY: -27.2%
• Active inventory: 112
• Price-to-rent: 4.4×

Monthly cashflow live

• Estimated rent: $1,226 medium
• Mortgage (P&I): −$341
• Tax from tax record: −$31 /mo · $375/yr
• Insurance: −$27
• HOA: −$0
• Vacancy / Maint / Mgmt: −$258
• Net cashflow: $569

Break-even live

Break-even rent $505

Max offer price $65,000

Occupancy floor 49%

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: $16,250
• Closing costs: $1,950
• Reserves months: —
• Total cash needed: —

Listing history 6 events

1. 2026-06-13
   status $65,000 Pending 6 DOM
2. 2026-06-10
   days on market $65,000 Active 6 DOM
3. 2026-06-09
   days on market $65,000 Active 5 DOM
4. 2026-06-08
   days on market $65,000 Active 4 DOM
5. 2026-06-07
   remarks 387-char remark
6. 2026-06-07
   listed $65,000 Active 3 DOM

ⓘ 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: $375 · $31/mo
• Projected year-2 tax: $464 · $39/mo
• Expected delta: +$89/yr (+$7/mo · 23.6%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone X (unshaded) · 24% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥101°F today · 16 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $14,714
• − Mortgage interest: −$3,641
• − Property taxes: −$375
• − Insurance: −$325
• − Repairs & maintenance: −$1,177
• − Management: −$1,177
• − Depreciation: −$1,891
• Taxable income: $6,128
• Est. tax owed @ 24.0%: −$1,471
• After-tax cash flow: $5,363/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: Penn-Harris-Madison School Corporation
• NCES district ID: 1808760
• Math proficiency: 54% ▼ -11.00%
• Reading proficiency: 64% ▼ -6.00%
• Median HH income: $59,421
• Composite: 51.11/100
• National rank: #1764
• State rank: #19 of 301 in IN

Livability — Osceola

• Score: 70/100
• State rank: #144
• US rank: #7375

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Osceola, IN
• City population: 14,499
• Population (ZIP): 14,499

Population outlook (St. Joseph County) Hauer SSP2

• Today (2025): 273,186 people
• By 2030: 273,594 · +0.1%
• By 2040: 271,641 · -0.6%
• By 2050: 269,187 · -1.5%
• By 2075: 263,136 · -3.7%
• By 2100: 245,659 · -10.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (87%)
• Race & ethnicity: White 87% Hispanic / Latino 9% Two or more races 7% Black 2% Asian 1%
• Hispanic origin (detail): Mexican 4% Puerto Rican 4%
• Common ancestry: Romanian 5% Italian 2% Lithuanian 1%
• Foreign-born: 3% · Canada
• Languages at home: 95% English-only · Spanish 3% Arabic 1% Korean 1%

Political lean MEDSL · St. Joseph

• 2024 margin: Toss-up / Even · D 50.0% · R 48.5% · Other 1.5%
• 2008→2024 swing: -15.6pp toward R · 2008: 17.1pp · 2024: 1.5pp
• All cycles: 2024: D+1.5 2020: D+5.8 2016: D+0.2 2012: D+3.5 2008: D+17.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -81.38%
• Current HPI: 217.644
• 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

+161.0% since first listed

3 events — show timeline

• 2026-06-04 Listed $65,000 IRMLS
• 2017-05-02 Sold (MLS) $15,000 IRMLS
• 2016-11-29 Listed $24,900 IRMLS

Property tax history

+5.2%/yr

Latest (2024): $375 · +4.6% YoY. Source: county tax records.