210 W Hickory St · Union City, IN 47390

$15,000

4 bd · 2.0 ba · 2,247 sqft · MultiFamily · 1 Days on market

Built 1880 3,920 sqft 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 +15.0/30.0
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Schools +2.5/10.0
• Condition / age +2.5/5.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks MLS

Calling all investors and rehab enthusiasts! If you enjoy home improvement projects, this property offers a chance to bring new life to a home with potential. The property has been condemned and requires substantial repairs and renovations. Previously used as a two-unit rental, it may be restored to that configuration or converted into a single-family residence. Property is being sold as-is. Please use caution and enter at your own risk.

Key facts

• 3,920 sq ft lot
• Built 1880

Property features AI

Finance

• Other: Lot dimensions approximately 40 x 94 (0.09 acres)

Exterior

• Parking: No designated parking
• Utilities: Public water; Public sewer
• Home design: Single-family residential site-built home; 2 stories; Concrete perimeter foundation; Facing direction not specified
• Construction: Brick construction; Asphalt roof; Built on concrete perimeter foundation; Above-grade finished area approximately 2,247
• Exterior features: Front porch; Level lot

Interior

• Bedrooms: 10 total rooms (bedroom count not specified); Laundry on main level
• Flooring: Hardwood; Other
• Bathrooms: 2 full bathrooms; 1 bathroom on the main level
• Heating & cooling: No heating specified; No cooling specified
• Interior features: Hardwood and other flooring; Living room fireplace (1 fireplace); Basement
• Laundry & utility: Main-level laundry

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath multifamily listed at $15k.

Deal economics

• At list price, monthly cash flow is $898 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $15k).

Location & tenants

• Location reads 63/100 on livability (#432 in IN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A-; Watch: health & safety C-, amenities F, commute F.
• Randolph Eastern School Corporation (town): math 29% / reading 31% proficiency, ranked #246 of 301 in IN (top 82%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: North Side Elementary School (math 46% / reading 27%, grade F, #571 of 994 statewide, top 58%, 561 students, 72% FRL); Union City Community Jr/Sr High (math 9% / reading 36%, grade F, #337 of 369 statewide, top 92%, 367 students, 67% FRL) — zoned schools average 70% FRL vs 54% district-wide (15 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 36 active listings in the ZIP; 19 units permitted in Randolph County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $2k of equity ($104 loan paydown + $2k appreciation (10.0% local appreciation)).
• Randolph County population projected at -26% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $4k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts 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.

Risks & watch-outs

• Watch-outs: built in 1880 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $15,000

Questions for the listing agent

1. Built in 1880 — 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 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?
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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 8.45% ✓
• Cap rate: 78.13%
• Cash-on-cash: 256.55%
• DSCR: 12.41
• GRM: 1.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 16.57×
• Total profit: $65,377
• Equity at exit: $13,513

10-year hold

• IRR: —
• Equity multiple: 36.14×
• Total profit: $147,589
• Equity at exit: $29,142

Cash invested: $4,200 (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 47390

• Home prices YoY: 9.1%
• Active inventory: 36
• Price-to-rent: 1.0×

Monthly cashflow live

• Estimated rent: $1,268 medium
• Mortgage (P&I): −$79
• Tax est. 1.5%: −$19 /mo · $225/yr
• Insurance: −$6
• HOA: −$0
• Vacancy / Maint / Mgmt: −$266
• Net cashflow: $898

Break-even live

Break-even rent $131

Max offer price $15,000

Occupancy floor 24%

Sensitivity live

Price	-10% $908	-5% $903	+0% $898	+5% $893	+10% $888
Rent	-10% $798	-5% $848	+0% $898	+5% $948	+10% $998
Rate	-1.0pp $905	-0.5pp $902	base $898	+0.5pp $894	+1.0pp $890

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: $3,750
• Closing costs: $450
• Reserves months: —
• Total cash needed: —

Listing history 6 events

1. 2026-04-30
   status Pending 441-char remark

   Show marketing remark (441 chars)

   Calling all investors and rehab enthusiasts! If you enjoy home improvement projects, this property offers a chance to bring new life to a home with potential. The property has been condemned and requires substantial repairs and renovations. Previously used as a two-unit rental, it may be restored to that configuration or converted into a single-family residence. Property is being sold as-is. Please use caution and enter at your own risk.

2. 2026-04-30
   status Pending 441-char remark

   Show marketing remark (441 chars)

   Calling all investors and rehab enthusiasts! If you enjoy home improvement projects, this property offers a chance to bring new life to a home with potential. The property has been condemned and requires substantial repairs and renovations. Previously used as a two-unit rental, it may be restored to that configuration or converted into a single-family residence. Property is being sold as-is. Please use caution and enter at your own risk.

3. 2026-04-30
   status Pending

   Show marketing remark (441 chars)

   Calling all investors and rehab enthusiasts! If you enjoy home improvement projects, this property offers a chance to bring new life to a home with potential. The property has been condemned and requires substantial repairs and renovations. Previously used as a two-unit rental, it may be restored to that configuration or converted into a single-family residence. Property is being sold as-is. Please use caution and enter at your own risk.

4. 2026-04-28
   listed $15,000 Active 441-char remark

   Show marketing remark (441 chars)

   Calling all investors and rehab enthusiasts! If you enjoy home improvement projects, this property offers a chance to bring new life to a home with potential. The property has been condemned and requires substantial repairs and renovations. Previously used as a two-unit rental, it may be restored to that configuration or converted into a single-family residence. Property is being sold as-is. Please use caution and enter at your own risk.

5. 2026-04-27
   listed $15,000 Active 441-char remark

   Show marketing remark (441 chars)

   Calling all investors and rehab enthusiasts! If you enjoy home improvement projects, this property offers a chance to bring new life to a home with potential. The property has been condemned and requires substantial repairs and renovations. Previously used as a two-unit rental, it may be restored to that configuration or converted into a single-family residence. Property is being sold as-is. Please use caution and enter at your own risk.

6. 2026-04-27
   listed $15,000 Active

   Show marketing remark (441 chars)

   Calling all investors and rehab enthusiasts! If you enjoy home improvement projects, this property offers a chance to bring new life to a home with potential. The property has been condemned and requires substantial repairs and renovations. Previously used as a two-unit rental, it may be restored to that configuration or converted into a single-family residence. Property is being sold as-is. Please use caution and enter at your own risk.

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

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 ≥99°F today · 18 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,214
• − Mortgage interest: −$840
• − Property taxes: −$225
• − Insurance: −$75
• − Repairs & maintenance: −$1,217
• − Management: −$1,217
• − Depreciation: −$436
• Taxable income: $11,203
• Est. tax owed @ 24.0%: −$2,689
• After-tax cash flow: $8,086/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: Randolph Eastern School Corporation
• NCES district ID: 1803180
• Math proficiency: 29% ▼ -15.00%
• Reading proficiency: 31% ▼ -15.00%
• Median HH income: $36,652
• Composite: 24.92/100
• National rank: #7570
• State rank: #246 of 301 in IN

Livability — Union City

• Score: 63/100
• State rank: #432
• US rank: #15530

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Union City, IN
• Population (ZIP): 5,084

Population outlook (Randolph County) Hauer SSP2

• Today (2025): 22,998 people
• By 2030: 21,815 · -5.1%
• By 2040: 19,360 · -15.8%
• By 2050: 17,010 · -26.0%
• By 2075: 12,491 · -45.7%
• By 2100: 8,986 · -60.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (79%)
• Race & ethnicity: White 79% Hispanic / Latino 15% Two or more races 9% Black 3%
• Hispanic origin (detail): Mexican 10%
• Common ancestry: Romanian 3% Portuguese 2% Italian 1%
• Foreign-born: 6% · Canada, South Korea, Guatemala
• Languages at home: 88% English-only · Spanish 10% Korean 1% Other Indo-European 1%

Political lean MEDSL · Randolph

• 2024 margin: Solid R (+53.7) · D 22.3% · R 75.9% · Other 1.8%
• 2008→2024 swing: -44.9pp toward R · 2008: -8.8pp · 2024: -53.7pp
• All cycles: 2024: R+53.7 2020: R+52.4 2016: R+48.5 2012: R+24.1 2008: R+8.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 22.82%
• Current HPI: 273.6736
• 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

+0.0% since first listed

6 events — show timeline

• 2026-04-30 Pending — IRMLS
• 2026-04-30 Pending — RRELMS
• 2026-04-30 Pending — IRMLS
• 2026-04-28 Listed $15,000 IRMLS
• 2026-04-27 Listed $15,000 IRMLS
• 2026-04-27 Listed $15,000 RRELMS