340 E Spring St · Bloomfield, IN 47424

$179,900

3 bd · 2.0 ba · 2,856 sqft · SingleFamily public records · 35 Days on market

Built 1977 0.30 ac lot $63/sqft · 11% below area Est $201k · 11% 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 +20.7/30.0
• ARV discount +12.2/15.0
• DSCR +6.6/10.0
• 1% rule +4.4/10.0
• Livability +3.7/5.0
• Appreciation +3.6/10.0
• Schools +3.2/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

Spacious opportunity in the heart of Bloomfield! This 4-bedroom, 2 full bath home offers over 2,800 square feet of living space, providing plenty of room to spread out and make it your own. Inside, you’ll find both a comfortable living room and a separate family room, complete with a fireplace that adds warmth and character. One of the bathrooms has been recently updated, and the home also features a newer metal roof, offering a solid start for your improvements. With generous storage throughout and a flexible layout, this property is ideal for buyers looking to add value and customize a home to their taste. While the home does need some TLC and updates, it presents a great opportunit

Key facts

• 0.3 acre lot
• Built 1977
• Listed 35 days

Property features AI

Exterior

• Utilities: Public water; Public sewer; Electric service
• Home design: Single-family, site-built home
• Construction: Vinyl siding; Block foundation
• Exterior features: Corner lot; Outbuilding on the property; Lot dimensions approximately 110 x 145

Interior

• Kitchen: Microwave; Refrigerator; Electric oven
• Bathrooms: Two full bathrooms; One full bathroom on the main level
• Heating & cooling: Electric forced-air heating; Central air conditioning
• Interior features: Finished basement with walk-out access; Crawl space; Wood-burning fireplace in the basement
• Laundry & utility: Washer and dryer; Laundry located on the lower level; Electric water heater

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $180k.

Deal economics

• At list price, monthly cash flow is $242 ($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 $169k (6.1% below list).
• Recommended offer: $169k (6.1% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 73/100 on livability (#96 in IN) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F.
• Bloomfield School District (town): math 33% / reading 41% proficiency, ranked #169 of 301 in IN (top 56%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Bloomfield Elementary School (math 30% / reading 34%, grade F, #652 of 994 statewide, top 68%, 457 students, 51% FRL); Bloomfield Middle School (168 students, 51% FRL); Bloomfield High School (math 37% / reading 52%, grade F, #169 of 369 statewide, top 51%, 233 students, 40% FRL) — zoned schools average 47% FRL vs 32% district-wide (15 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 53 active listings in the ZIP.

Forward outlook

• Local home prices are declining (-2.8%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• Greene County population projected at -22% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 35 days — a 3% lower offer ($175k) is reasonable based on typical stale-listing flexibility.

Recommended offer $168,970 (6.1% below list)

Questions for the listing agent

1. It's been on market 35 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1977 — 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. 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?
5. 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.
6. 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.
7. 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: 0.94% ✗
• Cap rate: 7.91%
• Cash-on-cash: 5.77%
• DSCR: 1.26
• GRM: 8.9

CMA / ARV

• ARV (median comp): $201,033
• List price: $179,900
• Delta: -10.51%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
21 W Mechanic St	0.46mi	3/3.0	2,882 (+1%)	0mo	$290,000	$101	73

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-2.84% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -6.7%
• Equity multiple: 0.75×
• Total profit: $-12,593
• Equity at exit: $28,110

10-year hold

• IRR: 2.6%
• Equity multiple: 1.19×
• Total profit: $9,645
• Equity at exit: $17,773

Cash invested: $50,372 (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 47424

• Home prices YoY: -1.3%
• Active inventory: 53
• Price-to-rent: 8.9×

Monthly cashflow live

• Estimated rent: $1,690 medium
• Mortgage (P&I): −$943
• Tax from tax record: −$74 /mo · $893/yr
• Insurance: −$75
• HOA: −$0
• Vacancy / Maint / Mgmt: −$355
• Net cashflow: $242

Break-even live

Break-even rent $1,383

Max offer price $179,900

Occupancy floor 81%

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: $44,975
• Closing costs: $5,397
• Reserves months: —
• Total cash needed: —

Listing history 7 events

1. 2026-06-07
   statusdays on market $179,900 Pending 35 DOM
2. 2026-06-04
   days on market $179,900 Active 34 DOM
3. 2026-06-02
   days on market $179,900 Active 33 DOM
4. 2026-06-01
   days on market $179,900 Active 32 DOM
5. 2026-05-31
   days on market $179,900 Active 31 DOM
6. 2026-05-31
   days on market $179,900 Active 30 DOM
7. 2026-04-30
   listed $179,900 Active 860-char remark

ⓘ 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: $893 · $74/mo
• Projected year-2 tax: $1,211 · $101/mo
• Expected delta: +$318/yr (+$26/mo · 35.6%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 4/10 Moderate 7 d/yr ≥106°F today · 18 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $20,276
• − Mortgage interest: −$10,077
• − Property taxes: −$893
• − Insurance: −$900
• − Repairs & maintenance: −$1,622
• − Management: −$1,622
• − Depreciation: −$5,233
• Taxable loss: −$71
• Est. tax savings @ 24.0%: +$17
• After-tax cash flow: $2,922/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: Bloomfield School District
• NCES district ID: 1800600
• Math proficiency: 33% ▼ -11.00%
• Reading proficiency: 41% ▼ -4.00%
• Median HH income: $50,351
• Composite: 32.01/100
• National rank: #5828
• State rank: #169 of 301 in IN

Livability — Bloomfield

• Score: 73/100
• State rank: #96
• US rank: #5394

Category grades

Amenities F 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: Bloomfield, IN
• Population (ZIP): 8,620

Population outlook (Greene County) Hauer SSP2

• Today (2025): 30,724 people
• By 2030: 29,506 · -4.0%
• By 2040: 26,744 · -13.0%
• By 2050: 23,879 · -22.3%
• By 2075: 18,341 · -40.3%
• By 2100: 13,976 · -54.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (96%)
• Race & ethnicity: White 96% Two or more races 2%
• Common ancestry: Italian 2% Iranian 2% Slovak 2%
• Foreign-born: 0%

Political lean MEDSL · Greene

• 2024 margin: Solid R (+53.7) · D 22.4% · R 76.1% · Other 1.6%
• 2008→2024 swing: -39.2pp toward R · 2008: -14.5pp · 2024: -53.7pp
• All cycles: 2024: R+53.7 2020: R+52.2 2016: R+53.4 2012: R+31.4 2008: R+14.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -2.84%
• Current HPI: 208.554
• 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

2 events — show timeline

• 2026-06-04 Pending — IRMLS
• 2026-04-30 Listed $179,900 IRMLS

Property tax history

-0.9%/yr

Latest (2025): $893 · +2.0% YoY. Source: county tax records.