7665 Renner St · Hamilton, IN 46742

$142,400

3 bd · 2.0 ba · 1,216 sqft · Manufactured public records · 145 Days on market

Built 1999 0.36 ac lot $117/sqft · 26% below area Est $194k · 26% under ↓ 14% 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
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +8.0/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.4/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

This well-loved manufactured home offers space, functionality, and a great opportunity iOpportunity knocks in Hamilton! This well-maintained 3-bedroom, 2-bath home sits on a spacious double lot with mature hedges that create natural privacy and welcoming curb appeal. Inside, the home offers a smart split-bedroom floor plan designed for comfortable living. The spacious eat-in kitchen features an island and plenty of room to gather, while the primary suite includes a large bathroom and walk-in closet, creating a comfortable retreat at the end of the day. The interior reflects its era, but the home has been well cared for and offers a fantastic opportunity to update and make it your own. Outside, you’ll find a detached two-car garage with plenty of space for vehicles, hobbies, or storage. The home is also equipped with a Generac generator that has been regularly serviced, most recently in December 2025, offering valuable peace of mind. Even better, the roof and siding are scheduled to be replaced and can be completed prior to closing, giving the next owner a major head start on exterior improvements. If you’ve been looking for space, a great lot, and the chance to build equity with your own updates, this property is well worth a look. n the charming town of Hamilton. Situated on a double lot, the property features a beautiful row of mature hedges that create natural privacy and welcoming curb appeal. Inside, you’ll find a 3-bedroom, 2-bath split floor plan designed for comfortable everyday living. The spacious eat-in kitchen includes an island and plenty of room to gather, with a layout that flows easily into the main living areas. The primary suite offers a large bathroom and walk-in closet, creating a comfortable retreat at the end of the day. While the interior reflects its era, the home has been well maintained and provides a fantastic opportunity for cosmetic updates to suit your style. Outside, a detached two-car garage offers excellent space for vehicles, hobbies, or storage. The home is also equipped with a Generac generator that has been regularly serviced, most recently in December 2025, offering added peace of mind. Even better, the roof and siding are scheduled to be replaced and can be completed prior to closing, giving the next owner a valuable head start on exterior improvements. If you’ve been looking for space, a great lot, and the chance to build equity with your own updates, this property is well worth a look.

Key facts

• Generac generator
• Double lot
• 0.36 acre lot

Tags

• DOUBLE LOT
• CHARMING ROW OF HEDGES
• SPACIOUS EAT-IN KITCHEN
• DETACHED TWO-CAR GARAGE
• GENERAC GENERATOR

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $142k.

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 ($2k rent vs $142k).
• Recommended offer: $125k (12.0% below list) — sets the bar for market timing.
• Cap rate 11.1% vs local median 2.7% in Hamilton — 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 64/100 on livability (#384 in IN) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: schools F, amenities F, commute F.
• Hamilton Community Schools (rural): math 20% / reading 25% proficiency, ranked #300 of 324 in IN (top 93%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 36 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 209 units permitted in Steuben County in 2024 (72 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $985 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Steuben County population projected at -13% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $40k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 145 days — a 12% lower offer ($125k) is reasonable based on typical stale-listing flexibility.

Recommended offer $125,312 (12.0% below list)

Questions for the listing agent

1. It's been on market 145 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are F-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: 1.30% ✓
• Cap rate: 11.08%
• Cash-on-cash: 17.11%
• DSCR: 1.76
• GRM: 6.4

CMA / ARV

• ARV (median comp): $193,557
• List price: $142,400
• Delta: -26.43%
• Verdict: UNDERPRICED
• Comps: 2 within 2.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 8.4%
• Equity multiple: 1.33×
• Total profit: $13,113
• Equity at exit: $21,232

10-year hold

• IRR: 17.6%
• Equity multiple: 2.45×
• Total profit: $57,939
• Equity at exit: $12,312

Cash invested: $39,872 (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 46742

• Home prices YoY: -31.9%
• Active inventory: 36
• Price-to-rent: 6.4×

Monthly cashflow live

• Estimated rent: $1,850 medium
• Mortgage (P&I): −$747
• Tax from tax record: −$87 /mo · $1,041/yr
• Insurance: −$59
• HOA: −$0
• Vacancy / Maint / Mgmt: −$388
• Net cashflow: $569

Break-even live

Break-even rent $1,130

Max offer price $142,400

Occupancy floor 64%

Sensitivity live

Price	-10% $649	-5% $609	+0% $569	+5% $528	+10% $488
Rent	-10% $422	-5% $496	+0% $569	+5% $642	+10% $715
Rate	-1.0pp $640	-0.5pp $605	base $569	+0.5pp $532	+1.0pp $494

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: $35,600
• Closing costs: $4,272
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
520 Lane 150H Hamilton Lk Hamilton, IN	3.0	1.0	774	$1,850	$2.39	24d	1	1.07mi

Listing history 20 events

1. 2026-06-21
   days on market $142,400 Active 145 DOM
2. 2026-06-19
   days on market $142,400 Active 143 DOM
3. 2026-06-18
   days on market $142,400 Active 142 DOM
4. 2026-06-17
   days on market $142,400 Active 141 DOM
5. 2026-06-16
   days on market $142,400 Active 140 DOM
6. 2026-06-15
   days on market $142,400 Active 139 DOM
7. 2026-06-14
   days on market $142,400 Active 137 DOM
8. 2026-06-12
   days on market $142,400 Active 136 DOM
9. 2026-06-09
   days on market $142,400 Active 133 DOM
10. 2026-06-08
    days on market $142,400 Active 132 DOM
11. 2026-06-07
    days on market $142,400 Active 131 DOM
12. 2026-06-07
    days on market $142,400 Active 130 DOM
13. 2026-06-04
    days on market $142,400 Active 127 DOM
14. 2026-06-02
    days on market $142,400 Active 126 DOM
15. 2026-06-01
    days on market $142,400 Active 125 DOM
16. 2026-05-31
    days on market $142,400 Active 124 DOM
17. 2026-05-31
    days on market $142,400 Active 123 DOM
18. 2026-05-11
    price $142,400 2493-char remark

    Show marketing remark (2493 chars)

    This well-loved manufactured home offers space, functionality, and a great opportunity iOpportunity knocks in Hamilton! This well-maintained 3-bedroom, 2-bath home sits on a spacious double lot with mature hedges that create natural privacy and welcoming curb appeal. Inside, the home offers a smart split-bedroom floor plan designed for comfortable living. The spacious eat-in kitchen features an island and plenty of room to gather, while the primary suite includes a large bathroom and walk-in closet, creating a comfortable retreat at the end of the day. The interior reflects its era, but the home has been well cared for and offers a fantastic opportunity to update and make it your own. Outside, you’ll find a detached two-car garage with plenty of space for vehicles, hobbies, or storage. The home is also equipped with a Generac generator that has been regularly serviced, most recently in December 2025, offering valuable peace of mind. Even better, the roof and siding are scheduled to be replaced and can be completed prior to closing, giving the next owner a major head start on exterior improvements. If you’ve been looking for space, a great lot, and the chance to build equity with your own updates, this property is well worth a look. n the charming town of Hamilton. Situated on a double lot, the property features a beautiful row of mature hedges that create natural privacy and welcoming curb appeal. Inside, you’ll find a 3-bedroom, 2-bath split floor plan designed for comfortable everyday living. The spacious eat-in kitchen includes an island and plenty of room to gather, with a layout that flows easily into the main living areas. The primary suite offers a large bathroom and walk-in closet, creating a comfortable retreat at the end of the day. While the interior reflects its era, the home has been well maintained and provides a fantastic opportunity for cosmetic updates to suit your style. Outside, a detached two-car garage offers excellent space for vehicles, hobbies, or storage. The home is also equipped with a Generac generator that has been regularly serviced, most recently in December 2025, offering added peace of mind. Even better, the roof and siding are scheduled to be replaced and can be completed prior to closing, giving the next owner a valuable head start on exterior improvements. If you’ve been looking for space, a great lot, and the chance to build equity with your own updates, this property is well worth a look.

19. 2026-02-27
    price $150,000 2493-char remark

    Show marketing remark (2493 chars)

    This well-loved manufactured home offers space, functionality, and a great opportunity iOpportunity knocks in Hamilton! This well-maintained 3-bedroom, 2-bath home sits on a spacious double lot with mature hedges that create natural privacy and welcoming curb appeal. Inside, the home offers a smart split-bedroom floor plan designed for comfortable living. The spacious eat-in kitchen features an island and plenty of room to gather, while the primary suite includes a large bathroom and walk-in closet, creating a comfortable retreat at the end of the day. The interior reflects its era, but the home has been well cared for and offers a fantastic opportunity to update and make it your own. Outside, you’ll find a detached two-car garage with plenty of space for vehicles, hobbies, or storage. The home is also equipped with a Generac generator that has been regularly serviced, most recently in December 2025, offering valuable peace of mind. Even better, the roof and siding are scheduled to be replaced and can be completed prior to closing, giving the next owner a major head start on exterior improvements. If you’ve been looking for space, a great lot, and the chance to build equity with your own updates, this property is well worth a look. n the charming town of Hamilton. Situated on a double lot, the property features a beautiful row of mature hedges that create natural privacy and welcoming curb appeal. Inside, you’ll find a 3-bedroom, 2-bath split floor plan designed for comfortable everyday living. The spacious eat-in kitchen includes an island and plenty of room to gather, with a layout that flows easily into the main living areas. The primary suite offers a large bathroom and walk-in closet, creating a comfortable retreat at the end of the day. While the interior reflects its era, the home has been well maintained and provides a fantastic opportunity for cosmetic updates to suit your style. Outside, a detached two-car garage offers excellent space for vehicles, hobbies, or storage. The home is also equipped with a Generac generator that has been regularly serviced, most recently in December 2025, offering added peace of mind. Even better, the roof and siding are scheduled to be replaced and can be completed prior to closing, giving the next owner a valuable head start on exterior improvements. If you’ve been looking for space, a great lot, and the chance to build equity with your own updates, this property is well worth a look.

20. 2026-01-27
    listed $165,000 Active 2493-char remark

    Show marketing remark (2493 chars)

    This well-loved manufactured home offers space, functionality, and a great opportunity iOpportunity knocks in Hamilton! This well-maintained 3-bedroom, 2-bath home sits on a spacious double lot with mature hedges that create natural privacy and welcoming curb appeal. Inside, the home offers a smart split-bedroom floor plan designed for comfortable living. The spacious eat-in kitchen features an island and plenty of room to gather, while the primary suite includes a large bathroom and walk-in closet, creating a comfortable retreat at the end of the day. The interior reflects its era, but the home has been well cared for and offers a fantastic opportunity to update and make it your own. Outside, you’ll find a detached two-car garage with plenty of space for vehicles, hobbies, or storage. The home is also equipped with a Generac generator that has been regularly serviced, most recently in December 2025, offering valuable peace of mind. Even better, the roof and siding are scheduled to be replaced and can be completed prior to closing, giving the next owner a major head start on exterior improvements. If you’ve been looking for space, a great lot, and the chance to build equity with your own updates, this property is well worth a look. n the charming town of Hamilton. Situated on a double lot, the property features a beautiful row of mature hedges that create natural privacy and welcoming curb appeal. Inside, you’ll find a 3-bedroom, 2-bath split floor plan designed for comfortable everyday living. The spacious eat-in kitchen includes an island and plenty of room to gather, with a layout that flows easily into the main living areas. The primary suite offers a large bathroom and walk-in closet, creating a comfortable retreat at the end of the day. While the interior reflects its era, the home has been well maintained and provides a fantastic opportunity for cosmetic updates to suit your style. Outside, a detached two-car garage offers excellent space for vehicles, hobbies, or storage. The home is also equipped with a Generac generator that has been regularly serviced, most recently in December 2025, offering added peace of mind. Even better, the roof and siding are scheduled to be replaced and can be completed prior to closing, giving the next owner a valuable head start on exterior improvements. If you’ve been looking for space, a great lot, and the chance to build equity with your own updates, this property is well worth a look.

ⓘ 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: $1,041 · $87/mo
• Projected year-2 tax: $1,126 · $94/mo
• Expected delta: +$85/yr (+$7/mo · 8.1%)

ⓘ 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 2/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥100°F today · 17 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $22,200
• − Mortgage interest: −$7,977
• − Property taxes: −$1,041
• − Insurance: −$712
• − Repairs & maintenance: −$1,776
• − Management: −$1,776
• − Depreciation: −$4,143
• Taxable income: $4,776
• Est. tax owed @ 24.0%: −$1,146
• After-tax cash flow: $5,677/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: Hamilton Community Schools
• NCES district ID: 1804230
• Math proficiency: 20% ▼ -20.00%
• Reading proficiency: 25% ▼ -25.00%
• Median HH income: $54,064
• Composite: 23.5/100
• National rank: #13286
• State rank: #300 of 324 in IN

Livability — Hamilton

• Score: 64/100
• State rank: #384
• US rank: #14236

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Hamilton, IN
• Population (ZIP): 3,126

Population outlook (Steuben County) Hauer SSP2

• Today (2025): 34,334 people
• By 2030: 33,801 · -1.6%
• By 2040: 32,076 · -6.6%
• By 2050: 30,022 · -12.6%
• By 2075: 25,626 · -25.4%
• By 2100: 21,257 · -38.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (98%)
• Race & ethnicity: White 98% Two or more races 2%
• Common ancestry: Romanian 3% Iranian 3% Italian 1%
• Foreign-born: 1%
• Languages at home: 99% English-only · Russian/Polish/Slavic 1%

Political lean MEDSL · Steuben

• 2024 margin: Solid R (+42.1) · D 28.1% · R 70.2% · Other 1.6%
• 2008→2024 swing: -32.3pp toward R · 2008: -9.8pp · 2024: -42.1pp
• All cycles: 2024: R+42.1 2020: R+42.2 2016: R+44.0 2012: R+27.0 2008: R+9.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -110.36%
• Current HPI: 235.4538
• 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

-13.7% since first listed

3 events — show timeline

• 2026-05-11 Price Changed $142,400 IRMLS
• 2026-02-27 Price Changed $150,000 IRMLS
• 2026-01-27 Listed $165,000 IRMLS

Property tax history

+77.3%/yr

Latest (2024): $1,041 · +3216.2% YoY. Source: county tax records.