814 Mill St · Tipton, IN 46072

$157,000

3 bd · 1.0 ba · 1,008 sqft · SingleFamily public records · 274 Days on market

Built 1952 6,970 sqft lot $156/sqft · at area comps Est $156k · at est.

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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 +21.5/30.0
• ARV discount +7.3/15.0
• DSCR +6.8/10.0
• 1% rule +4.6/10.0
• Livability +4.0/5.0
• Schools +3.5/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Quaint Town of Tipton! Cute Bungalow with a HUGE heated Workshop Garage. Spacious Living room with Big Picture Windows, 3 Beds, 1 bath with updated Walk-in, Large Eat-in Kitchen and Huge Laundry Room. Relax on the Charming Front Porch. Enjoy the Golf Cart Friendly Town, Quaint Movie Theatre, Historical Courthouse, Quaint Shops and restaurants, Tipton Community Pool and Splash pad. Tipton Schools, Cheap Taxes and More.

Key facts

• Large eat-in kitchen
• Charming front porch
• Huge laundry room

Tags

• HUGE HEATED WORKSHOP GARAGE
• UPDATED WALK-IN
• LARGE EAT-IN KITCHEN
• HUGE LAUNDRY ROOM
• CHARMING FRONT PORCH
• TIPTON COMMUNITY POOL

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $157k.

Deal economics

• At list price, monthly cash flow is $235 ($3k/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 $151k (4.1% below list).
• Recommended offer: $138k (12.0% below list) — sets the bar for market timing.
• Cap rate 8.1% vs local median 4.0% in Tipton — 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 81/100 on livability (#16 in IN, #1,419 nationally) — a professional / high-income tenant draw. Strengths: crime A+, cost of living A+, housing A+; Watch: commute F.
• Tipton Community School Corporation (town): math 38% / reading 43% proficiency, ranked #130 of 301 in IN (top 43%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Tipton Elementary School (math 55% / reading 44%, grade D, #279 of 994 statewide, top 30%, 668 students, 48% FRL); Tipton Middle School (math 25% / reading 39%, grade F, #190 of 330 statewide, top 59%, 335 students, 44% FRL); Tipton High School (math 32% / reading 52%, grade F, #197 of 369 statewide, top 57%, 439 students, 33% FRL).
• Market conditions: 52 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals leasing fast (median 0d on market — plan ~1-2 weeks tenant-placement turnaround); 32 units permitted in Tipton 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 $5k of value loss. Plan a longer hold.
• Tipton County population projected at -23% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 274 days — a 12% lower offer ($138k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 3y ago; this cycle's ask has dropped $16k (9%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $112k; 40% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

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

Recommended offer $138,160 (12.0% below list)

Questions for the listing agent

1. It's been on market 274 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1952 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
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: 0.96% ✗
• Cap rate: 8.09%
• Cash-on-cash: 6.40%
• DSCR: 1.28
• GRM: 8.7

CMA / ARV

• ARV (median comp): $156,273
• List price: $157,000
• Delta: 0.47%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
814 Mill St	0.00mi	3/1.0	1,008 (0%)	1mo	$143,000	$142	99
911 N East St	0.10mi	2/1.0 (-1)	1,046 (+4%)	8mo	$157,000	$150	77
608 Mill St	0.18mi	3/1.0	1,091 (+8%)	8mo	$185,000	$170	71
721 Poplar St	0.25mi	3/1.0	912 (-10%)	7mo	$113,900	$125	67
709 Oak St	0.14mi	3/1.0	864 (-14%)	9mo	$155,000	$179	62
424 Kentucky Ave	0.75mi	2/1.0 (-1)	992 (-2%)	2mo	$150,000	$151	55
217 Mound St	0.35mi	2/1.0 (-1)	936 (-7%)	20mo	$90,000	$96	51
812 Poplar St	0.21mi	2/1.0 (-1)	1,152 (+14%)	17mo	$114,000	$99	47
229 E Washington St	0.68mi	2/1.0 (-1)	1,064 (+6%)	11mo	$118,000	$111	45
120 W North St	0.53mi	2/1.5 (-1)	1,098 (+9%)	11mo	$104,900	$96	44
409 E Washington St	0.68mi	3/1.5	1,080 (+7%)	12mo	$215,000	$199	44
323 Walnut St	0.75mi	2/1.0 (-1)	1,054 (+5%)	16mo	$117,900	$112	39

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: -6.5%
• Equity multiple: 0.76×
• Total profit: $-10,561
• Equity at exit: $23,409

10-year hold

• IRR: 3.1%
• Equity multiple: 1.22×
• Total profit: $9,805
• Equity at exit: $13,574

Cash invested: $43,960 (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 46072

• Home prices YoY: -28.7%
• Active inventory: 52
• Price-to-rent: 8.7×

Monthly cashflow live

• Estimated rent: $1,505 medium
• Mortgage (P&I): −$823
• Tax from tax record: −$66 /mo · $789/yr
• Insurance: −$65
• HOA: −$0
• Vacancy / Maint / Mgmt: −$316
• Net cashflow: $235

Break-even live

Break-even rent $1,208

Max offer price $157,000

Occupancy floor 79%

Sensitivity live

Price	-10% $323	-5% $279	+0% $235	+5% $190	+10% $146
Rent	-10% $116	-5% $175	+0% $235	+5% $294	+10% $353
Rate	-1.0pp $314	-0.5pp $274	base $235	+0.5pp $194	+1.0pp $152

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: $39,250
• Closing costs: $4,710
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
836 Maple St Unit A Tipton, IN	3.0	2.0	1050	$1,595	$1.52	25d	1	0.13mi
319 Terrace Ct Tipton, IN	1.0–2.0	1.0	754	$1,096	$1.45	0d	2	0.66mi
501 Canterbury Ct Tipton, IN	2.0–3.0	1.0–2.0	960	$1,371	$1.43	0d	5	0.70mi

Listing history 12 events

1. 2026-05-05
   status Pending 421-char remark

   Show marketing remark (421 chars)

   Quaint Town of Tipton! Cute Bungalow with a HUGE heated Workshop Garage. Spacious Living room with Big Picture Windows, 3 Beds, 1 bath with updated Walk-in, Large Eat-in Kitchen and Huge Laundry Room. Relax on the Charming Front Porch. Enjoy the Golf Cart Friendly Town, Quaint Movie Theatre, Historical Courthouse, Quaint Shops and restaurants, Tipton Community Pool and Splash pad. Tipton Schools, Cheap Taxes and More.

2. 2026-01-29
   price $157,000 421-char remark

   Show marketing remark (421 chars)

   Quaint Town of Tipton! Cute Bungalow with a HUGE heated Workshop Garage. Spacious Living room with Big Picture Windows, 3 Beds, 1 bath with updated Walk-in, Large Eat-in Kitchen and Huge Laundry Room. Relax on the Charming Front Porch. Enjoy the Golf Cart Friendly Town, Quaint Movie Theatre, Historical Courthouse, Quaint Shops and restaurants, Tipton Community Pool and Splash pad. Tipton Schools, Cheap Taxes and More.

3. 2025-09-11
   price $164,900 421-char remark

   Show marketing remark (421 chars)

   Quaint Town of Tipton! Cute Bungalow with a HUGE heated Workshop Garage. Spacious Living room with Big Picture Windows, 3 Beds, 1 bath with updated Walk-in, Large Eat-in Kitchen and Huge Laundry Room. Relax on the Charming Front Porch. Enjoy the Golf Cart Friendly Town, Quaint Movie Theatre, Historical Courthouse, Quaint Shops and restaurants, Tipton Community Pool and Splash pad. Tipton Schools, Cheap Taxes and More.

4. 2025-08-02
   listed $172,900 Active 421-char remark

   Show marketing remark (421 chars)

   Quaint Town of Tipton! Cute Bungalow with a HUGE heated Workshop Garage. Spacious Living room with Big Picture Windows, 3 Beds, 1 bath with updated Walk-in, Large Eat-in Kitchen and Huge Laundry Room. Relax on the Charming Front Porch. Enjoy the Golf Cart Friendly Town, Quaint Movie Theatre, Historical Courthouse, Quaint Shops and restaurants, Tipton Community Pool and Splash pad. Tipton Schools, Cheap Taxes and More.

5. 2023-12-19
   soldstatus $112,000 Closed 423-char remark

   Show marketing remark (423 chars)

   Quaint Town of Tipton! Cute Bungalow with a HUGE heated Workshop Garage. Spacious Living room with Big Picture Windows, 3 Beds, 1 bath with updated Walk-in, Large Eat-in Kitchen and Huge Laundry Room. Relax on the Charming Front Porch. Enjoy the Golf Cart Friendly Town, Quaint Movie Theatre, Historical Courthouse, Quaint Shops and restaurants, Tipton Community Pool and Splash pad. Tipton Schools, Cheap Taxes and More.

6. 2023-12-18
   soldstatus $112,000
7. 2023-12-08
   status Pending 423-char remark

   Show marketing remark (423 chars)

   Quaint Town of Tipton! Cute Bungalow with a HUGE heated Workshop Garage. Spacious Living room with Big Picture Windows, 3 Beds, 1 bath with updated Walk-in, Large Eat-in Kitchen and Huge Laundry Room. Relax on the Charming Front Porch. Enjoy the Golf Cart Friendly Town, Quaint Movie Theatre, Historical Courthouse, Quaint Shops and restaurants, Tipton Community Pool and Splash pad. Tipton Schools, Cheap Taxes and More.

8. 2023-12-01
   status Active 423-char remark

   Show marketing remark (423 chars)

   Quaint Town of Tipton! Cute Bungalow with a HUGE heated Workshop Garage. Spacious Living room with Big Picture Windows, 3 Beds, 1 bath with updated Walk-in, Large Eat-in Kitchen and Huge Laundry Room. Relax on the Charming Front Porch. Enjoy the Golf Cart Friendly Town, Quaint Movie Theatre, Historical Courthouse, Quaint Shops and restaurants, Tipton Community Pool and Splash pad. Tipton Schools, Cheap Taxes and More.

9. 2023-11-28
   status Pending 423-char remark

   Show marketing remark (423 chars)

   Quaint Town of Tipton! Cute Bungalow with a HUGE heated Workshop Garage. Spacious Living room with Big Picture Windows, 3 Beds, 1 bath with updated Walk-in, Large Eat-in Kitchen and Huge Laundry Room. Relax on the Charming Front Porch. Enjoy the Golf Cart Friendly Town, Quaint Movie Theatre, Historical Courthouse, Quaint Shops and restaurants, Tipton Community Pool and Splash pad. Tipton Schools, Cheap Taxes and More.

10. 2023-11-26
    status Active 423-char remark

    Show marketing remark (423 chars)

    Quaint Town of Tipton! Cute Bungalow with a HUGE heated Workshop Garage. Spacious Living room with Big Picture Windows, 3 Beds, 1 bath with updated Walk-in, Large Eat-in Kitchen and Huge Laundry Room. Relax on the Charming Front Porch. Enjoy the Golf Cart Friendly Town, Quaint Movie Theatre, Historical Courthouse, Quaint Shops and restaurants, Tipton Community Pool and Splash pad. Tipton Schools, Cheap Taxes and More.

11. 2023-11-13
    status Pending 423-char remark

    Show marketing remark (423 chars)

    Quaint Town of Tipton! Cute Bungalow with a HUGE heated Workshop Garage. Spacious Living room with Big Picture Windows, 3 Beds, 1 bath with updated Walk-in, Large Eat-in Kitchen and Huge Laundry Room. Relax on the Charming Front Porch. Enjoy the Golf Cart Friendly Town, Quaint Movie Theatre, Historical Courthouse, Quaint Shops and restaurants, Tipton Community Pool and Splash pad. Tipton Schools, Cheap Taxes and More.

12. 2023-11-08
    listed $149,900 Active 423-char remark

    Show marketing remark (423 chars)

    Quaint Town of Tipton! Cute Bungalow with a HUGE heated Workshop Garage. Spacious Living room with Big Picture Windows, 3 Beds, 1 bath with updated Walk-in, Large Eat-in Kitchen and Huge Laundry Room. Relax on the Charming Front Porch. Enjoy the Golf Cart Friendly Town, Quaint Movie Theatre, Historical Courthouse, Quaint Shops and restaurants, Tipton Community Pool and Splash pad. Tipton Schools, Cheap Taxes and More.

ⓘ 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: $789 · $66/mo
• Projected year-2 tax: $1,062 · $88/mo
• Expected delta: +$273/yr (+$23/mo · 34.6%)

ⓘ 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 · 18 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 0% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $18,061
• − Mortgage interest: −$8,794
• − Property taxes: −$789
• − Insurance: −$785
• − Repairs & maintenance: −$1,445
• − Management: −$1,445
• − Depreciation: −$4,567
• Taxable income: $236
• Est. tax owed @ 24.0%: −$57
• After-tax cash flow: $2,758/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: Tipton Community School Corporation
• NCES district ID: 1811400
• Math proficiency: 38% ▼ -10.00%
• Reading proficiency: 43% ▼ -9.00%
• Median HH income: $51,073
• Composite: 35.0/100
• National rank: #5048
• State rank: #130 of 301 in IN

Livability — Tipton

• Score: 81/100
• State rank: #16
• US rank: #1419

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Tipton, IN
• Population (ZIP): 8,751

Population outlook (Tipton County) Hauer SSP2

• Today (2025): 14,332 people
• By 2030: 13,717 · -4.3%
• By 2040: 12,357 · -13.8%
• By 2050: 11,032 · -23.0%
• By 2075: 8,640 · -39.7%
• By 2100: 6,544 · -54.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (93%)
• Race & ethnicity: White 93% Hispanic / Latino 4% Two or more races 3% Black 1%
• Common ancestry: Italian 2% Slovak 2% Lithuanian 2%
• Foreign-born: 2% · Canada
• Languages at home: 97% English-only · Spanish 2%

Political lean MEDSL · Tipton

• 2024 margin: Solid R (+50.8) · D 23.7% · R 74.5% · Other 1.7%
• 2008→2024 swing: -35.5pp toward R · 2008: -15.4pp · 2024: -50.8pp
• All cycles: 2024: R+50.8 2020: R+52.7 2016: R+53.3 2012: R+31.8 2008: R+15.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -105.28%
• Current HPI: 261.1877
• 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

+4.7% since first listed

12 events — show timeline

• 2026-05-05 Pending — MIBOR as Distributed by MLS Grid
• 2026-01-29 Price Changed $157,000 MIBOR as Distributed by MLS Grid
• 2025-09-11 Price Changed $164,900 MIBOR as Distributed by MLS Grid
• 2025-08-02 Listed $172,900 MIBOR as Distributed by MLS Grid
• 2023-12-19 Sold (MLS) $112,000 MIBOR as Distributed by MLS Grid
• 2023-12-18 Sold (Public Records) $112,000 Public Records
• 2023-12-08 Pending — MIBOR as Distributed by MLS Grid
• 2023-12-01 Relisted — MIBOR as Distributed by MLS Grid
• 2023-11-28 Pending — MIBOR as Distributed by MLS Grid
• 2023-11-26 Relisted — MIBOR as Distributed by MLS Grid
• 2023-11-13 Pending — MIBOR as Distributed by MLS Grid
• 2023-11-08 Listed $149,900 MIBOR as Distributed by MLS Grid

Property tax history

+5.1%/yr

Latest (2024): $789 · +18.2% YoY. Source: county tax records.