721 Bluff Creek Dr · Fortville, IN 46040

$320,000

3 bd · 2.0 ba · 2,060 sqft · SingleFamily public records · 34 Days on market

Built 2004 7,100 sqft lot Est $336k · at est. $10/mo HOA

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Why this score? — see what drove the D 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 +14.0/30.0
• ARV discount +9.6/15.0
• DSCR +4.3/10.0
• Schools +4.1/10.0
• Livability +3.5/5.0
• 1% rule +2.9/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

HUD HOME SOLD IN AS IS CONDITION. CASE NUMBER 151 760976. INSURED STATUS; IN 203K ELIGIBLE. HOA FEE 470 PER YEAR.THE HOA MAY HAVE RESTRICTIVE COVENANTS TO OWNER OCCUPANCY OWNERSHIP AS IT RELATES TO RENTING/LEASING. INVESTOR BIDDERS SHOULD COMPLETE FURTHER RESEARCH REGARDING COVENANT RESTRICTIONS PRIOR TO PLACING A BID AND/OR SIGNING A PURCHASE AGREEMENT ON THIS PROPERTY.

Key facts

• Walk-in closet
• Gas fireplace
• Bonus room

Tags

• OPEN-CONCEPT LAYOUT
• GAS FIREPLACE
• BONUS ROOM
• UPDATED SINK
• BUILT-IN HUTCH
• WALK-IN CLOSET

Property features AI

Finance

• Other: Corner lot with sidewalks; Lot size approximately 0.16 acres
• HOA & community: Homeowners association with an annual fee of $125

Exterior

• Parking: Attached 2-car garage
• Security: Smoke detector(s)
• Utilities: Public water; Municipal sewer connection; Electricity connected; Natural gas connected
• Home design: Single-family residence; One level plus loft; Has a view; Accessible entrance
• Construction: Vinyl siding with brick; Slab foundation
• Exterior features: Covered patio/porch; Mini barn on the property; Complete privacy fencing

Interior

• Kitchen: Microwave; Refrigerator; Dishwasher
• Bedrooms: Three bedrooms on the main level; Primary bedroom with walk-in closet
• Bathrooms: Two full bathrooms (both on the main level)
• Heating & cooling: Natural gas heating; Central air conditioning
• Interior features: Vaulted and cathedral ceilings; Walk-in closet(s); Great Room fireplace
• Laundry & utility: Accessible full bath (accessibility feature)

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $320k.

Deal economics

• At list price, monthly cash flow is $44 ($526/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 $253k (20.8% below list).
• Recommended offer: $253k (20.8% below list) — sets the bar for 1% rule.
• Cap rate 6.5% vs local median 4.2% in Fortville — 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 69/100 on livability (#189 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 F.
• Mt Vernon Community School Corporation (rural): math 43% / reading 48% proficiency, ranked #70 of 301 in IN (top 23%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; only 18% free/reduced lunch — higher-income household profile.
• Zoned schools: Fortville Elementary School (math 50% / reading 46%, grade D, #314 of 994 statewide, top 32%, 719 students, 31% FRL); Mt Vernon Middle School (math 37% / reading 46%, grade F, #108 of 330 statewide, top 34%, 1,070 students, 31% FRL); Mt Vernon High School (math 41% / reading 71%, grade C, #73 of 369 statewide, top 20%, 1,431 students, 27% FRL).
• Market conditions: 307 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals leasing fast (median 5d on market — plan ~1-2 weeks tenant-placement turnaround); 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 $2k of loan paydown is wiped out by about $10k 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.

Negotiation context

• It's been on market 34 days — a 3% lower offer ($310k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 17y 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 $115k; list at $320k implies a 178% gain — meaningful room to come down on a strong offer.

Recommended offer $253,415 (20.8% below list)

Questions for the listing agent

1. It's been on market 34 days. Have you received any prior offers? Is the seller open to a 21% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 0.79% ✗
• Cap rate: 6.46%
• Cash-on-cash: 0.59%
• DSCR: 1.03
• GRM: 10.5

CMA / ARV

• ARV (on-the-fly): $335,780
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
16402 Sedalia Dr	0.35mi	3/2.5	2,071 (+0%)	1mo	$385,000	$186	80
9770 Sonnette Cir	0.32mi	3/2.5	2,078 (+1%)	5mo	$385,000	$185	77
9823 Pica Dr	0.14mi	3/2.0	1,856 (-10%)	7mo	$370,000	$199	71
217 West Dr	0.38mi	4/2.0 (+1)	2,268 (+10%)	2mo	$499,900	$220	59
16331 E 101st St	0.57mi	3/2.5	1,893 (-8%)	0mo	$637,500	$337	57
679 Washington St	0.74mi	4/2.5 (+1)	2,112 (+2%)	2mo	$345,000	$163	53
414 W Michigan St	0.50mi	4/2.5 (+1)	2,255 (+10%)	3mo	$340,000	$151	51
455 Lincoln Circle East	0.57mi	4/2.5 (+1)	2,255 (+10%)	7mo	$342,000	$152	45
481 Lincoln Circle East	0.57mi	4/2.5 (+1)	2,255 (+10%)	7mo	$345,000	$153	45
422 W Michigan St	0.50mi	4/3.0 (+1)	2,329 (+13%)	6mo	$348,000	$149	40
411 W Michigan St	0.50mi	4/3.0 (+1)	2,329 (+13%)	6mo	$334,995	$144	40
412 W Monroe St	0.61mi	4/3.0 (+1)	2,329 (+13%)	7mo	$348,000	$149	35

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: -15.4%
• Equity multiple: 0.45×
• Total profit: $-49,179
• Equity at exit: $47,713

10-year hold

• IRR: -7.0%
• Equity multiple: 0.56×
• Total profit: $-39,707
• Equity at exit: $27,668

Cash invested: $89,600 (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 46040

• Home prices YoY: -24.4%
• Active inventory: 307
• Price-to-rent: 10.5×

Monthly cashflow live

• Estimated rent: $2,534 high
• Mortgage (P&I): −$1,678
• Tax from tax record: −$137 /mo · $1,640/yr
• Insurance: −$133
• HOA: −$10
• Vacancy / Maint / Mgmt: −$532
• Net cashflow: $44

Break-even live

Break-even rent $2,479

Max offer price $320,000

Occupancy floor 93%

Sensitivity live

Price	-10% $225	-5% $134	+0% $44	+5% $-47	+10% $-137
Rent	-10% $-156	-5% $-56	+0% $44	+5% $144	+10% $244
Rate	-1.0pp $205	-0.5pp $125	base $44	+0.5pp $-39	+1.0pp $-123

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: $80,000
• Closing costs: $9,600
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
405 Thomas Point Dr Fortville, IN	4.0	2.5	2132	$2,995	$1.40	25d	1	0.31mi
542 Jefferson St Fortville, IN	4.0	3.0	2329	$2,200	$0.94	0d	1	0.62mi
570 Jefferson St Fortville, IN	4.0	3.5	2255	$2,299	$1.02	5d	1	0.64mi
412 N Merrill St Fortville, IN	3.0	3.0	2560	$2,250	$0.88	0d	1	0.71mi
412 N Merrill St Fortville, IN	3.0	3.0	2560	$2,250	$0.88	4d	1	0.71mi

HOA detail

• Monthly dues: $10 · $120/yr

Listing history 21 events

1. 2026-06-21
   pricedays on market $320,000 Active 34 DOM
2. 2026-06-18
   days on market $329,000 Active 31 DOM
3. 2026-06-17
   days on market $329,000 Active 30 DOM
4. 2026-06-16
   days on market $329,000 Active 29 DOM
5. 2026-06-15
   days on market $329,000 Active 28 DOM
6. 2026-06-13
   days on market $329,000 Active 26 DOM
7. 2026-06-13
   days on market $329,000 Active 25 DOM
8. 2026-06-09
   days on market $329,000 Active 22 DOM
9. 2026-06-08
   days on market $329,000 Active 21 DOM
10. 2026-06-07
    days on market $329,000 Active 20 DOM
11. 2026-06-05
    days on market $329,000 Active 17 DOM
12. 2026-06-03
    days on market $329,000 Active 16 DOM
13. 2026-06-02
    days on market $329,000 Active 15 DOM
14. 2026-06-01
    days on market $329,000 Active 14 DOM
15. 2026-05-31
    days on market $329,000 Active 13 DOM
16. 2026-05-18
    listed $329,000 Active
17. 2010-04-25
    historical 374-char remark

    Show marketing remark (374 chars)

    HUD HOME SOLD IN AS IS CONDITION. CASE NUMBER 151 760976. INSURED STATUS; IN 203K ELIGIBLE. HOA FEE 470 PER YEAR.THE HOA MAY HAVE RESTRICTIVE COVENANTS TO OWNER OCCUPANCY OWNERSHIP AS IT RELATES TO RENTING/LEASING. INVESTOR BIDDERS SHOULD COMPLETE FURTHER RESEARCH REGARDING COVENANT RESTRICTIONS PRIOR TO PLACING A BID AND/OR SIGNING A PURCHASE AGREEMENT ON THIS PROPERTY.

18. 2010-04-19
    soldstatus $115,000 374-char remark

    Show marketing remark (374 chars)

    HUD HOME SOLD IN AS IS CONDITION. CASE NUMBER 151 760976. INSURED STATUS; IN 203K ELIGIBLE. HOA FEE 470 PER YEAR.THE HOA MAY HAVE RESTRICTIVE COVENANTS TO OWNER OCCUPANCY OWNERSHIP AS IT RELATES TO RENTING/LEASING. INVESTOR BIDDERS SHOULD COMPLETE FURTHER RESEARCH REGARDING COVENANT RESTRICTIONS PRIOR TO PLACING A BID AND/OR SIGNING A PURCHASE AGREEMENT ON THIS PROPERTY.

19. 2010-03-05
    listed $110,000 374-char remark

    Show marketing remark (374 chars)

    HUD HOME SOLD IN AS IS CONDITION. CASE NUMBER 151 760976. INSURED STATUS; IN 203K ELIGIBLE. HOA FEE 470 PER YEAR.THE HOA MAY HAVE RESTRICTIVE COVENANTS TO OWNER OCCUPANCY OWNERSHIP AS IT RELATES TO RENTING/LEASING. INVESTOR BIDDERS SHOULD COMPLETE FURTHER RESEARCH REGARDING COVENANT RESTRICTIONS PRIOR TO PLACING A BID AND/OR SIGNING A PURCHASE AGREEMENT ON THIS PROPERTY.

20. 2009-07-22
    historical
21. 2009-04-21
    listed $135,000

ⓘ 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: $1,640 · $137/mo
• Projected year-2 tax: $2,180 · $182/mo
• Expected delta: +$540/yr (+$45/mo · 32.9%)

ⓘ 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 · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $30,410
• − Mortgage interest: −$17,925
• − Property taxes: −$1,640
• − Insurance: −$1,600
• − Repairs & maintenance: −$2,433
• − Management: −$2,433
• − HOA: −$120
• − Depreciation: −$9,309
• Taxable loss: −$5,050
• Est. tax savings @ 24.0%: +$1,212
• After-tax cash flow: $1,738/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: Mt Vernon Community School Corporation
• NCES district ID: 1807260
• Math proficiency: 43% ▼ -12.00%
• Reading proficiency: 48% ▼ -7.00%
• Median HH income: $73,671
• Composite: 41.3/100
• National rank: #3514
• State rank: #70 of 301 in IN

Livability — Fortville

• Score: 69/100
• State rank: #189
• US rank: #8710

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Fortville, IN
• City population: 92,467
• Population (ZIP): 17,891

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 (83%)
• Race & ethnicity: White 83% Black 6% Two or more races 4% Asian 4% Hispanic / Latino 2%
• Common ancestry: Lithuanian 5% Romanian 2% Portuguese 2%
• Foreign-born: 5% · Canada
• Languages at home: 94% English-only · Other Indo-European 3% Arabic 1% Spanish 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: ▼ -71.54%
• Current HPI: 221.8703
• 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

+143.7% since first listed

6 events — show timeline

• 2026-05-18 Listed $329,000 MIBOR as Distributed by MLS Grid
• 2010-04-25 Listing Removed — MIBOR as Distributed by MLS Grid
• 2010-04-19 Sold (MLS) $115,000 MIBOR as Distributed by MLS Grid
• 2010-03-05 Listed $110,000 MIBOR as Distributed by MLS Grid
• 2009-07-22 Listing Removed — MIBOR as Distributed by MLS Grid
• 2009-04-21 Listed $135,000 MIBOR as Distributed by MLS Grid

Property tax history

+1.5%/yr

Latest (2025): $1,640 · +2.0% YoY. Source: county tax records.