4160 E Bellefontaine Rd Rd · Hamilton, IN 46742

$189,000

3 bd · 1.0 ba · 1,056 sqft · SingleFamily public records · 2 Days on market

Built 1900 0.28 ac lot

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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 +23.0/30.0
• ARV discount +7.5/15.0
• DSCR +7.4/10.0
• 1% rule +4.8/10.0
• 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

Discover small-town charm in this renovated 3-bedroom, 1-bathroom two-story home located in Hamilton in Steuben County. Offering approximately 1,100 sq. ft. of living space, this home blends historic character with modern updates. Inside you’ll find brand-new flooring throughout and a bright kitchen featuring all-new appliances, making everyday living and entertaining easy. A washer and dryer are included, adding convenience to this move-in-ready property. The basement provides additional storage space, while outside a detached heated garage with over 400 sq. ft. offers great parking, workshop, or hobby space. A 10×16 garden shed adds even more room for tools, lawn equipment, or

Key facts

• Bright kitchen
• Renovated
• Brand-new flooring

Tags

• RENOVATED
• HISTORIC CHARACTER
• MODERN UPDATES
• BRAND-NEW FLOORING
• BRIGHT KITCHEN
• ALL-NEW APPLIANCES

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $189k.

Deal economics

• At list price, monthly cash flow is $335 ($4k/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 $185k (2.1% below list).
• Recommended offer: $185k (2.1% below list) — sets the bar for 1% rule.
• Cap rate 8.4% 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: amenities F, commute F, health & safety 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.
• Zoned schools: Hamilton Community Elementary Sch (math 47% / reading 37%, grade F, #434 of 994 statewide, top 48%, 166 students, 48% FRL); Hamilton Community High School (math 17% / reading 32%, grade F, #325 of 369 statewide, top 91%, 186 students, 42% FRL) — zoned schools average 45% FRL vs 30% district-wide (15 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 35 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 $1k of loan paydown is wiped out by about $6k 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.

Negotiation context

• Only 2 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $185,000 (2.1% below list)

Questions for the listing agent

1. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
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: 0.98% ✗
• Cap rate: 8.42%
• Cash-on-cash: 7.59%
• DSCR: 1.34
• GRM: 8.5

CMA / ARV

• ARV (on-the-fly): $391,776
• Comps found: 5

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
4160 E Bellefontaine Rd Rd	0.00mi	3/1.0	1,100 (+4%)	2mo	$189,000	$172	92
8405 S Cameron Dr	0.41mi	3/1.0	1,008 (-4%)	23mo	$165,000	$164	54
2300 LN 150 Hamilton Lake Lk	0.48mi	2/2.0 (-1)	984 (-7%)	8mo	$365,000	$371	50
280 Lane 207 Hamilton Lk Lk	0.56mi	3/2.0	1,120 (+6%)	20mo	$500,000	$446	43
260 Lane 207 Hamilton Lk Lk	0.55mi	3/2.0	1,200 (+14%)	10mo	$500,000	$417	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: -4.8%
• Equity multiple: 0.82×
• Total profit: $-9,396
• Equity at exit: $28,181

10-year hold

• IRR: 4.9%
• Equity multiple: 1.36×
• Total profit: $18,927
• Equity at exit: $16,341

Cash invested: $52,920 (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: 35
• Price-to-rent: 8.5×

Monthly cashflow live

• Estimated rent: $1,850 medium
• Mortgage (P&I): −$991
• Tax from tax record: −$57 /mo · $684/yr
• Insurance: −$79
• HOA: −$0
• Vacancy / Maint / Mgmt: −$388
• Net cashflow: $335

Break-even live

Break-even rent $1,426

Max offer price $189,000

Occupancy floor 77%

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: $47,250
• Closing costs: $5,670
• 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	23d	1	1.09mi

Listing history 2 events

1. 2026-03-08
   status Pending
2. 2026-03-06
   listed $189,000 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: $684 · $57/mo
• Projected year-2 tax: $1,145 · $95/mo
• Expected delta: +$461/yr (+$38/mo · 67.5%)

ⓘ 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 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: −$10,587
• − Property taxes: −$684
• − Insurance: −$945
• − Repairs & maintenance: −$1,776
• − Management: −$1,776
• − Depreciation: −$5,498
• Taxable income: $934
• Est. tax owed @ 24.0%: −$224
• After-tax cash flow: $3,791/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

2 events — show timeline

• 2026-03-08 Pending — IRMLS
• 2026-03-06 Listed $189,000 IRMLS

Property tax history

+1.1%/yr

Latest (2024): $684 · -3.9% YoY. Source: county tax records.