8377 E Us Highway 40 · Charlottesville, IN 46140

$135,000

4 bd · 1.0 ba · 1,422 sqft · SingleFamily public records · 37 Days on market

Built 1950 0.33 ac lot ↓ 6% since listing

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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
• DSCR +10.0/10.0
• 1% rule +9.9/10.0
• ARV discount +7.5/15.0
• Schools +4.3/10.0
• Rent growth +3.2/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Step into the charm of country living with this traditional farmhouse located at 8377 E US Highway 40 in Greenfield, IN. Offering 4 bedrooms, 1 bathroom, and 2,190 square feet of living space, this home sits on a . 33-acre lot with plenty of potential to make it your own. A detached 1-car garage adds convenience and storage, while the covered front porch invites you to relax with a morning coffee or unwind in the evening with your favorite beverage. Out back, you'll find four apple trees already planted, ready for the next owner to enjoy seasonal harvests and a touch of homestead charm. This property is full of character and opportunity, ready for someone with vision to bring it back to its

Key facts

• Covered front porch
• Country living
• Four apple trees

Tags

• DETACHED GARAGE
• COVERED FRONT PORCH
• FOUR APPLE TREES
• COUNTRY LIVING

Property features AI

Exterior

• Parking: Detached 1-car garage (about 360 sq ft)
• Utilities: Public water; Municipal sewer connected; Propane leased for fuel
• Home design: Single-family residence; One-and-one-half story
• Construction: Wood siding; Foundation includes cellar and crawl space (partial)
• Exterior features: Covered porch/patio; Approximately 1/3 acre lot

Interior

• Kitchen: Electric oven; Refrigerator
• Bedrooms: Four bedrooms total — three on the main level, one on the upper level
• Bathrooms: One full bathroom
• Heating & cooling: Electric heating; Forced air; Propane heating (leased); Central air conditioning
• Interior features: Attic access; Cellar/partial basement
• Laundry & utility: Water softener (rented)

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $135k.

Deal economics

• At list price, monthly cash flow is $755 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $135k).
• Recommended offer: $131k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads: area grade B — affects rentability + tenant quality, not the cash-flow math above.
• Eastern Hancock County Community School Corporation (rural): math 48% / reading 50% proficiency, ranked #49 of 301 in IN (top 16%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Eastern Hancock Elementary School (math 57% / reading 47%, grade C-, #237 of 994 statewide, top 26%, 533 students, 32% FRL); Eastern Hancock High School (math 52% / reading 72%, grade B-, #41 of 369 statewide, top 12%, 378 students, 31% FRL).
• Market conditions: Rents rising (+2.9%/yr); 481 active listings in the ZIP; solid renter incomes; 1,091 units permitted in Hancock County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $933 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Hancock County population projected at +7% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (-3.0% appreciation + 2.9% rent growth), your $38k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 37 days — a 3% lower offer ($131k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1950 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $130,950 (3.0% below list)

Questions for the listing agent

1. It's been on market 37 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 1950 — 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: 1.49% ✓
• Cap rate: 13.01%
• Cash-on-cash: 23.98%
• DSCR: 2.07
• GRM: 5.6

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 2.88% rent growth · sell at horizon

5-year hold

• IRR: 17.0%
• Equity multiple: 1.69×
• Total profit: $25,954
• Equity at exit: $20,129

10-year hold

• IRR: 25.5%
• Equity multiple: 3.21×
• Total profit: $83,427
• Equity at exit: $11,672

Cash invested: $37,800 (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 46140

• Rents YoY: 2.9%
• Active inventory: 481
• Price-to-rent: 5.6×

Monthly cashflow live

• Estimated rent: $2,015 medium
• Mortgage (P&I): −$708
• Tax from tax record: −$72 /mo · $868/yr
• Insurance: −$56
• HOA: −$0
• Vacancy / Maint / Mgmt: −$423
• Net cashflow: $755

Break-even live

Break-even rent $1,059

Max offer price $135,000

Occupancy floor 58%

Sensitivity live

Price	-10% $832	-5% $793	+0% $755	+5% $717	+10% $679
Rent	-10% $596	-5% $676	+0% $755	+5% $835	+10% $914
Rate	-1.0pp $823	-0.5pp $790	base $755	+0.5pp $720	+1.0pp $685

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: $33,750
• Closing costs: $4,050
• Reserves months: —
• Total cash needed: —

Listing history 10 events

1. 2026-06-13
   statusdays on market $135,000 Pending 37 DOM
2. 2026-06-09
   pricedays on market $135,000 Active 34 DOM
3. 2026-06-08
   days on market $139,000 Active 33 DOM
4. 2026-06-07
   days on market $139,000 Active 32 DOM
5. 2026-06-03
   days on market $139,000 Active 28 DOM
6. 2026-06-02
   days on market $139,000 Active 27 DOM
7. 2026-06-01
   days on market $139,000 Active 26 DOM
8. 2026-05-31
   days on market $139,000 Active 25 DOM
9. 2026-05-13
   price $139,000
10. 2026-05-06
    listed $148,500 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: $868 · $72/mo
• Projected year-2 tax: $1,008 · $84/mo
• Expected delta: +$140/yr (+$12/mo · 16.1%)

ⓘ 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 ≥101°F today · 18 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: $24,178
• − Mortgage interest: −$7,562
• − Property taxes: −$868
• − Insurance: −$675
• − Repairs & maintenance: −$1,934
• − Management: −$1,934
• − Depreciation: −$3,927
• Taxable income: $7,278
• Est. tax owed @ 24.0%: −$1,747
• After-tax cash flow: $7,316/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: Eastern Hancock County Community School Corporation
• NCES district ID: 1803120
• Math proficiency: 48% ▼ -15.00%
• Reading proficiency: 50% ▼ -7.00%
• Median HH income: $62,582
• Composite: 43.16/100
• National rank: #3071
• State rank: #49 of 301 in IN

Livability — Charlottesville

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• County: Hancock County · 59,521 people
• Metro: Indianapolis-Carmel-Anderson, IN
• Population (ZIP): 43,511
• Household income: $83,056
• Rent vs Own: 26.1% rent · 73.9% own
• Severe rent burden: 795.0

Population outlook (Hancock County) Hauer SSP2

• Today (2025): 77,820 people
• By 2030: 79,914 · +2.7%
• By 2040: 82,734 · +6.3%
• By 2050: 83,348 · +7.1%
• By 2075: 82,439 · +5.9%
• By 2100: 74,181 · -4.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (92%)
• Race & ethnicity: White 92% Two or more races 5% Hispanic / Latino 3% Black 1%
• Common ancestry: Italian 3% Lithuanian 3% Slovak 1%
• Foreign-born: 3% · Canada
• Languages at home: 96% English-only · Spanish 2% Other Indo-European 1%

Political lean MEDSL · Hancock

• 2024 margin: Solid R (+33.7) · D 32.2% · R 65.9% · Other 1.9%
• 2008→2024 swing: -4.1pp toward R · 2008: -29.6pp · 2024: -33.7pp
• All cycles: 2024: R+33.7 2020: R+37.5 2016: R+44.8 2012: R+41.0 2008: R+29.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -131.67%
• Current HPI: 225.0367
• Rent YoY: ▲ 2.88%
• Metro: Indianapolis-Carmel-Anderson, 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

-6.4% since first listed

2 events — show timeline

• 2026-05-13 Price Changed $139,000 MIBOR as Distributed by MLS Grid
• 2026-05-06 Listed $148,500 MIBOR as Distributed by MLS Grid

Property tax history

+32.7%/yr

Latest (2025): $868 · -7.7% YoY. Source: county tax records.