8760 W Middleton St · Hatfield, IN 47634

$204,999

3 bd · 1.0 ba · 1,394 sqft · SingleFamily public records · 62 Days on market

Built 1960 0.27 ac lot $147/sqft · 5% above area Est $248k · 17% 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).

• ARV discount +15.0/15.0
• Cash flow +12.4/30.0
• Appreciation +6.2/10.0
• Schools +4.2/10.0
• DSCR +3.7/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +2.2/10.0

Listing remarks MLS

Ready to move in brick home in Hatfield, IN. Includes 3 bedrooms, 1 bath, Kitchen with all appliances ( new refrigerator and dishwasher), all new floor covering including engineered hardwood, 1.5 car attached garage, large back yard which is mostly fenced, rear deck, and a gas tankless water heater. Also include a brand new roof.

Key facts

• 0.27 acre lot
• Garage
• Built 1960

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $205k.

Deal economics

• At list price, monthly cash flow is $-35 ($-426/yr) — negative.
• To cash-flow at today's rent, offer at most $199k (3.1% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $148k (27.9% below list).
• Recommended offer: $148k (27.9% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 63/100 on livability (#438 in IN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, employment A; Watch: crime C-, schools F, amenities F.
• South Spencer County School Corporation (rural): math 46% / reading 54% proficiency, ranked #58 of 301 in IN (top 19%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 40 active listings in the ZIP; 78 units permitted in Spencer County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $6k of equity ($1k loan paydown + $5k appreciation (2.3% local appreciation)).
• Spencer County population projected at -16% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (2.3% appreciation + 3.0% rent growth), your $57k cash investment doubles in ~8 years — after that, you're playing with house money.
• By year 6, paydown + projected appreciation supports a ~$33k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 62 days — a 6% lower offer ($193k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 7y 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 $106k; list at $205k implies a 93% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $147,895 (27.9% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 62 days. Have you received any prior offers? Is the seller open to a 28% concession, seller financing, or rate buy-down credit?
3. Built in 1960 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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.
8. 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.
9. 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: 0.72% ✗
• Cap rate: 6.09%
• Cash-on-cash: -0.74%
• DSCR: 0.97
• GRM: 11.6

CMA / ARV

• ARV (median comp): $247,962
• List price: $204,999
• Delta: -17.33%
• Verdict: UNDERPRICED
• Comps: 11 within 1.0 mi

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1146 N Green Acres St	0.15mi	3/1.5	1,387 (-0%)	21mo	$150,000	$108	73
1148 N County Road 900 W	0.28mi	2/2.0 (-1)	1,216 (-13%)	12mo	$142,000	$117	46

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

Projected returns pro-forma

2.31% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 4.7%
• Equity multiple: 1.26×
• Total profit: $14,942
• Equity at exit: $84,320

10-year hold

• IRR: 8.2%
• Equity multiple: 2.14×
• Total profit: $65,693
• Equity at exit: $124,140

Cash invested: $57,400 (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 47634

• Home prices YoY: 1.1%
• Active inventory: 40
• Price-to-rent: 11.6×

Monthly cashflow live

• Estimated rent: $1,479 medium
• Mortgage (P&I): −$1,075
• Tax from tax record: −$43 /mo · $521/yr
• Insurance: −$85
• HOA: −$0
• Vacancy / Maint / Mgmt: −$311
• Net cashflow: $-35

Break-even live

Break-even rent $1,524

Max offer price $198,733

Occupancy floor 97%

Sensitivity live

Price	-10% $81	-5% $23	+0% $-35	+5% $-93	+10% $-152
Rent	-10% $-152	-5% $-94	+0% $-35	+5% $23	+10% $81
Rate	-1.0pp $68	-0.5pp $17	base $-35	+0.5pp $-89	+1.0pp $-143

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: $51,250
• Closing costs: $6,150
• Reserves months: —
• Total cash needed: —

Listing history 24 events

1. 2026-06-18
   days on market $204,999 Active 62 DOM
2. 2026-06-17
   days on market $204,999 Active 61 DOM
3. 2026-06-16
   days on market $204,999 Active 60 DOM
4. 2026-06-15
   days on market $204,999 Active 59 DOM
5. 2026-06-14
   days on market $204,999 Active 57 DOM
6. 2026-06-13
   days on market $204,999 Active 56 DOM
7. 2026-06-10
   days on market $204,999 Active 54 DOM
8. 2026-06-09
   days on market $204,999 Active 53 DOM
9. 2026-06-08
   days on market $204,999 Active 52 DOM
10. 2026-06-07
    days on market $204,999 Active 51 DOM
11. 2026-06-05
    days on market $204,999 Active 48 DOM
12. 2026-06-03
    days on market $204,999 Active 47 DOM
13. 2026-06-02
    days on market $204,999 Active 46 DOM
14. 2026-06-01
    days on market $204,999 Active 45 DOM
15. 2026-05-31
    days on market $204,999 Active 44 DOM
16. 2026-05-30
    pricedays on market $204,999 Active 43 DOM
17. 2026-04-17
    listed $214,900 Active
18. 2021-01-13
    soldstatus $106,000 331-char remark

    Show marketing remark (331 chars)

    Ready to move in brick home in Hatfield, IN. Includes 3 bedrooms, 1 bath, Kitchen with all appliances ( new refrigerator and dishwasher), all new floor covering including engineered hardwood, 1.5 car attached garage, large back yard which is mostly fenced, rear deck, and a gas tankless water heater. Also include a brand new roof.

19. 2021-01-13
    soldstatus $106,000

    Show marketing remark (331 chars)

    Ready to move in brick home in Hatfield, IN. Includes 3 bedrooms, 1 bath, Kitchen with all appliances ( new refrigerator and dishwasher), all new floor covering including engineered hardwood, 1.5 car attached garage, large back yard which is mostly fenced, rear deck, and a gas tankless water heater. Also include a brand new roof.

20. 2020-08-24
    listed $119,000
21. 2020-08-23
    listed $109,900 331-char remark

    Show marketing remark (331 chars)

    Ready to move in brick home in Hatfield, IN. Includes 3 bedrooms, 1 bath, Kitchen with all appliances ( new refrigerator and dishwasher), all new floor covering including engineered hardwood, 1.5 car attached garage, large back yard which is mostly fenced, rear deck, and a gas tankless water heater. Also include a brand new roof.

22. 2020-07-14
    listed $129,900
23. 2020-02-18
    soldstatus $20,000
24. 2019-09-21
    listed $20,000

ⓘ 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: $521 · $43/mo
• Projected year-2 tax: $1,132 · $94/mo
• Expected delta: +$611/yr (+$51/mo · 117.3%)

ⓘ 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 5/10 Major 7 d/yr ≥107°F today · 19 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 4% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $17,747
• − Mortgage interest: −$11,483
• − Property taxes: −$521
• − Insurance: −$1,025
• − Repairs & maintenance: −$1,420
• − Management: −$1,420
• − Depreciation: −$5,964
• Taxable loss: −$4,085
• Est. tax savings @ 24.0%: +$980
• After-tax cash flow: $555/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: South Spencer County School Corporation
• NCES district ID: 1810560
• Math proficiency: 46% ▼ -6.00%
• Reading proficiency: 54% ▼ -2.00%
• Median HH income: $47,220
• Composite: 42.49/100
• National rank: #3208
• State rank: #58 of 301 in IN

Livability — Hatfield

• Score: 63/100
• State rank: #438
• US rank: #15721

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Hatfield, IN
• Population (ZIP): 2,101

Population outlook (Spencer County) Hauer SSP2

• Today (2025): 20,394 people
• By 2030: 19,912 · -2.4%
• By 2040: 18,592 · -8.8%
• By 2050: 17,051 · -16.4%
• By 2075: 14,010 · -31.3%
• By 2100: 10,869 · -46.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (94%)
• Race & ethnicity: White 94% Two or more races 6% Hispanic / Latino 3%
• Common ancestry: Lithuanian 4% Romanian 2% English 2%
• Foreign-born: 3% · Canada
• Languages at home: 97% English-only · French/Haitian/Cajun 1% Spanish 1%

Political lean MEDSL · Spencer

• 2024 margin: Solid R (+43.3) · D 27.4% · R 70.6% · Other 2.0%
• 2008→2024 swing: -43.6pp toward R · 2008: 0.4pp · 2024: -43.3pp
• All cycles: 2024: R+43.3 2020: R+38.5 2016: R+37.3 2012: R+15.3 2008: D+0.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 2.31%
• Current HPI: 210.8511
• 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

+974.5% since first listed

8 events — show timeline

• 2026-04-17 Listed $214,900 IRMLS
• 2021-01-13 Sold (MLS) $106,000 GORAMLS
• 2021-01-13 Sold (MLS) $106,000 IRMLS
• 2020-08-24 Listed $119,000 GORAMLS
• 2020-08-23 Listed $109,900 IRMLS
• 2020-07-14 Listed $129,900 IRMLS
• 2020-02-18 Sold (MLS) $20,000 IRMLS
• 2019-09-21 Listed $20,000 IRMLS

Property tax history

+25.7%/yr

Latest (2023): $521 · +14.2% YoY. Source: county tax records.