126 Hel Mar Dr · Mitchell, IN 47446

$167,500

3 bd · 1.0 ba · 1,008 sqft · SingleFamily public records · 59 Days on market

Built 1991 7,405 sqft lot $166/sqft · at area comps Est $168k · at est.

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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 +10.3/30.0
• ARV discount +7.7/15.0
• Appreciation +5.3/10.0
• Livability +3.5/5.0
• 1% rule +3.1/10.0
• DSCR +3.0/10.0
• Schools +2.7/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

WELCOME HOME to your adorable THREE bedroom, ONE bathroom ranch with a one car attached garage in Hel Mar! You will love the curb appeal as you pull into your driveway and stroll up the sidewalk to your covered front porch. Step inside the front door to be greeted by an open concept living room, dining room, and kitchen area. Kitchen also comes complete with appliances. You will love the beautiful flooring throughout and trendy colors and touches that make the home so homey. Down the hall you will find your three bedrooms and your full bathroom. Full bathroom is spacious and even offers your laundry room area and comes complete with the washer and dryer. Step out your back doors to a peaceful backyard that offers privacy and relaxation for cooking out. Home has had many updates such as: bathroom remodel, HVAC, and more. Home comes complete with a one year HSA Home Warranty with buyer seven star upgrade and has the possibility of 100% USDA Financing. Utility averages are: Duke ($200/month), Mitchell City water, and Sparklight. Check out this beautiful home today!

Key facts

• Covered front porch
• Recent updates
• Storage shed

Tags

• COVERED FRONT PORCH
• OPEN-CONCEPT LAYOUT
• PEACEFUL BACKYARD
• STORAGE SHED
• RECENT UPDATES

Property features AI

Finance

• Other: Property located in the Hel Mar Acres subdivision

Exterior

• Parking: Attached garage (1 car)
• Security: Smoke detector(s)
• Utilities: Public water; Public sewer; Cable available
• Home design: Single-family home; Site-built; One story
• Construction: Vinyl siding; Shingle roof; Crawl space foundation; Built as site-built construction
• Exterior features: Partial wood fencing; Landscaped yard; Irregular-shaped lot

Interior

• Kitchen: Dishwasher; Refrigerator; Electric cooktop; Electric oven; Exhaust fan
• Flooring: Laminate flooring
• Bathrooms: One full bathroom (main level)
• Heating & cooling: Electric forced air heat; Central air conditioning; Ceiling fans for additional cooling
• Interior features: Ceiling fans; Eat-in kitchen; Open floorplan; Laminate counters
• Laundry & utility: Washer and dryer included; Laundry on main level; Electric water heater

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $168k.

Deal economics

• At list price, monthly cash flow is $-91 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $151k (9.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $136k (18.5% below list).
• Recommended offer: $136k (18.5% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 69/100 on livability (#187 in IN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime B; Watch: employment D, amenities F, commute F.
• Mitchell Community Schools (town): math 26% / reading 37% proficiency, ranked #230 of 301 in IN (top 76%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Mitchell Jr High School (math 16% / reading 33%, grade F, #251 of 330 statewide, top 77%, 359 students, 61% FRL); Mitchell High School (math 32% / reading 67%, grade D, #123 of 369 statewide, top 36%, 436 students, 51% FRL).
• Market conditions: 62 active listings in the ZIP; 8 units permitted in Lawrence County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $2k of equity ($1k loan paydown + $1k appreciation (0.6% local appreciation)).
• Lawrence County population projected at -14% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 59 days — a 3% lower offer ($162k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 9y 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.

Recommended offer $136,489 (18.5% 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 59 days. Have you received any prior offers? Is the seller open to a 19% concession, seller financing, or rate buy-down credit?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
6. 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.
7. 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.
8. 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: 0.81% ✗
• Cap rate: 5.64%
• Cash-on-cash: -2.32%
• DSCR: 0.90
• GRM: 10.2

CMA / ARV

• ARV (median comp): $168,093
• List price: $167,500
• Delta: -0.35%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
104 Rabbitsville Rd	0.42mi	3/1.5	1,040 (+3%)	6mo	$163,000	$157	68
910 W Oak St	0.54mi	2/1.0 (-1)	1,024 (+2%)	1mo	$149,000	$146	67
1206 W Brook St	0.57mi	3/1.0	1,044 (+4%)	7mo	$90,000	$86	62
509 N 8th St	0.39mi	2/1.0 (-1)	1,057 (+5%)	12mo	$93,350	$88	58
818 W Oak St	0.55mi	3/1.0	1,065 (+6%)	8mo	$162,900	$153	58
1134 N Marion St	0.35mi	2/1.0 (-1)	863 (-14%)	2mo	$147,000	$170	53
402 W Hancock Ave	0.62mi	2/1.0 (-1)	960 (-5%)	12mo	$83,000	$86	48
416 W Oak St	0.68mi	2/1.0 (-1)	1,032 (+2%)	14mo	$166,200	$161	47
507 W Oak St	0.61mi	2/1.0 (-1)	912 (-10%)	6mo	$121,000	$133	45
245 Bartlett Dr	0.64mi	3/1.0	1,100 (+9%)	14mo	$156,000	$142	44
1215 W Warren St	0.60mi	2/1.0 (-1)	858 (-15%)	1mo	$150,000	$175	41
1211 & 1209 W Main St	0.66mi	2/1.0 (-1)	867 (-14%)	1mo	$145,000	$167	40

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

Projected returns pro-forma

0.62% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -2.5%
• Equity multiple: 0.88×
• Total profit: $-5,734
• Equity at exit: $53,857

10-year hold

• IRR: 2.8%
• Equity multiple: 1.33×
• Total profit: $15,358
• Equity at exit: $69,067

Cash invested: $46,900 (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 47446

• Home prices YoY: 0.2%
• Active inventory: 62
• Price-to-rent: 10.2×

Monthly cashflow live

• Estimated rent: $1,365 medium
• Mortgage (P&I): −$878
• Tax from tax record: −$221 /mo · $2,648/yr
• Insurance: −$70
• HOA: −$0
• Vacancy / Maint / Mgmt: −$287
• Net cashflow: $-91

Break-even live

Break-even rent $1,480

Max offer price $151,498

Occupancy floor —

Sensitivity live

Price	-10% $4	-5% $-43	+0% $-91	+5% $-138	+10% $-185
Rent	-10% $-198	-5% $-144	+0% $-91	+5% $-37	+10% $17
Rate	-1.0pp $-6	-0.5pp $-48	base $-91	+0.5pp $-134	+1.0pp $-178

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: $41,875
• Closing costs: $5,025
• Reserves months: —
• Total cash needed: —

Listing history 28 events

1. 2026-06-21
   days on market $167,500 Active 59 DOM
2. 2026-06-19
   days on market $167,500 Active 57 DOM
3. 2026-06-18
   days on market $167,500 Active 56 DOM
4. 2026-06-17
   days on market $167,500 Active 55 DOM
5. 2026-06-16
   days on market $167,500 Active 54 DOM
6. 2026-06-15
   days on market $167,500 Active 53 DOM
7. 2026-06-14
   days on market $167,500 Active 51 DOM
8. 2026-06-12
   days on market $167,500 Active 50 DOM
9. 2026-06-09
   days on market $167,500 Active 47 DOM
10. 2026-06-08
    days on market $167,500 Active 46 DOM
11. 2026-06-07
    days on market $167,500 Active 45 DOM
12. 2026-06-05
    days on market $167,500 Active 43 DOM
13. 2026-06-03
    days on market $167,500 Active 41 DOM
14. 2026-06-02
    days on market $167,500 Active 40 DOM
15. 2026-06-01
    days on market $167,500 Active 39 DOM
16. 2026-05-31
    days on market $167,500 Active 38 DOM
17. 2026-05-30
    days on market $167,500 Active 37 DOM
18. 2026-04-23
    listed $167,500 Active 1432-char remark
19. 2023-07-25
    soldstatus $160,000 Closed 1079-char remark

    Show marketing remark (1079 chars)

    WELCOME HOME to your adorable THREE bedroom, ONE bathroom ranch with a one car attached garage in Hel Mar! You will love the curb appeal as you pull into your driveway and stroll up the sidewalk to your covered front porch. Step inside the front door to be greeted by an open concept living room, dining room, and kitchen area. Kitchen also comes complete with appliances. You will love the beautiful flooring throughout and trendy colors and touches that make the home so homey. Down the hall you will find your three bedrooms and your full bathroom. Full bathroom is spacious and even offers your laundry room area and comes complete with the washer and dryer. Step out your back doors to a peaceful backyard that offers privacy and relaxation for cooking out. Home has had many updates such as: bathroom remodel, HVAC, and more. Home comes complete with a one year HSA Home Warranty with buyer seven star upgrade and has the possibility of 100% USDA Financing. Utility averages are: Duke ($200/month), Mitchell City water, and Sparklight. Check out this beautiful home today!

20. 2023-07-25
    soldstatus $160,000

    Show marketing remark (1079 chars)

    WELCOME HOME to your adorable THREE bedroom, ONE bathroom ranch with a one car attached garage in Hel Mar! You will love the curb appeal as you pull into your driveway and stroll up the sidewalk to your covered front porch. Step inside the front door to be greeted by an open concept living room, dining room, and kitchen area. Kitchen also comes complete with appliances. You will love the beautiful flooring throughout and trendy colors and touches that make the home so homey. Down the hall you will find your three bedrooms and your full bathroom. Full bathroom is spacious and even offers your laundry room area and comes complete with the washer and dryer. Step out your back doors to a peaceful backyard that offers privacy and relaxation for cooking out. Home has had many updates such as: bathroom remodel, HVAC, and more. Home comes complete with a one year HSA Home Warranty with buyer seven star upgrade and has the possibility of 100% USDA Financing. Utility averages are: Duke ($200/month), Mitchell City water, and Sparklight. Check out this beautiful home today!

21. 2023-06-28
    historical Active Under Contract 1079-char remark

    Show marketing remark (1079 chars)

    WELCOME HOME to your adorable THREE bedroom, ONE bathroom ranch with a one car attached garage in Hel Mar! You will love the curb appeal as you pull into your driveway and stroll up the sidewalk to your covered front porch. Step inside the front door to be greeted by an open concept living room, dining room, and kitchen area. Kitchen also comes complete with appliances. You will love the beautiful flooring throughout and trendy colors and touches that make the home so homey. Down the hall you will find your three bedrooms and your full bathroom. Full bathroom is spacious and even offers your laundry room area and comes complete with the washer and dryer. Step out your back doors to a peaceful backyard that offers privacy and relaxation for cooking out. Home has had many updates such as: bathroom remodel, HVAC, and more. Home comes complete with a one year HSA Home Warranty with buyer seven star upgrade and has the possibility of 100% USDA Financing. Utility averages are: Duke ($200/month), Mitchell City water, and Sparklight. Check out this beautiful home today!

22. 2023-06-23
    listed $149,900 Active 1079-char remark

    Show marketing remark (1079 chars)

    WELCOME HOME to your adorable THREE bedroom, ONE bathroom ranch with a one car attached garage in Hel Mar! You will love the curb appeal as you pull into your driveway and stroll up the sidewalk to your covered front porch. Step inside the front door to be greeted by an open concept living room, dining room, and kitchen area. Kitchen also comes complete with appliances. You will love the beautiful flooring throughout and trendy colors and touches that make the home so homey. Down the hall you will find your three bedrooms and your full bathroom. Full bathroom is spacious and even offers your laundry room area and comes complete with the washer and dryer. Step out your back doors to a peaceful backyard that offers privacy and relaxation for cooking out. Home has had many updates such as: bathroom remodel, HVAC, and more. Home comes complete with a one year HSA Home Warranty with buyer seven star upgrade and has the possibility of 100% USDA Financing. Utility averages are: Duke ($200/month), Mitchell City water, and Sparklight. Check out this beautiful home today!

23. 2017-12-21
    soldstatus $79,000
24. 2017-12-19
    soldstatus $79,000

    Show marketing remark (694 chars)

    Looking for a beautifully remodeled home in an established neighborhood, this is the home for you. From the updated covered front porch you will enter into a spacious open floor plan that has new laminate flooring flowing throughout. The kitchen has been completely renovated with white shaker style slow close cabinetry, new counter tops and stainless steel appliances. Head down the hall and admire all the new white six panel doors. The bathroom has been modernized with updated lighting counter top and flooring. All the bedrooms have been upgraded too, with laminate flooring fresh paint and trim and new ceiling fans. This home is a gem that has a lot to offer. Set up your showing today.

25. 2017-09-05
    listed $79,900

    Show marketing remark (694 chars)

    Looking for a beautifully remodeled home in an established neighborhood, this is the home for you. From the updated covered front porch you will enter into a spacious open floor plan that has new laminate flooring flowing throughout. The kitchen has been completely renovated with white shaker style slow close cabinetry, new counter tops and stainless steel appliances. Head down the hall and admire all the new white six panel doors. The bathroom has been modernized with updated lighting counter top and flooring. All the bedrooms have been upgraded too, with laminate flooring fresh paint and trim and new ceiling fans. This home is a gem that has a lot to offer. Set up your showing today.

26. 2017-08-04
    soldstatus $44,500
27. 2017-07-28
    soldstatus $44,500
28. 2017-06-13
    listed $49,000

ⓘ 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: $2,648 · $221/mo
• Projected year-2 tax: $2,648 · $221/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 4/10 Moderate 7 d/yr ≥104°F today · 19 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 2% 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: $16,379
• − Mortgage interest: −$9,383
• − Property taxes: −$2,648
• − Insurance: −$838
• − Repairs & maintenance: −$1,310
• − Management: −$1,310
• − Depreciation: −$4,873
• Taxable loss: −$3,983
• Est. tax savings @ 24.0%: +$956
• After-tax cash flow: $-131/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: Mitchell Community Schools
• NCES district ID: 1806900
• Math proficiency: 26% ▼ -16.00%
• Reading proficiency: 37% ▼ -10.00%
• Median HH income: $43,994
• Composite: 26.83/100
• National rank: #7113
• State rank: #230 of 301 in IN

Livability — Mitchell

• Score: 69/100
• State rank: #187
• US rank: #8606

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Mitchell, IN
• Population (ZIP): 9,259

Population outlook (Lawrence County) Hauer SSP2

• Today (2025): 44,347 people
• By 2030: 43,331 · -2.3%
• By 2040: 40,887 · -7.8%
• By 2050: 38,297 · -13.6%
• By 2075: 32,479 · -26.8%
• By 2100: 26,051 · -41.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (93%)
• Race & ethnicity: White 93% Two or more races 4% Asian 2% Hispanic / Latino 1%
• Common ancestry: Italian 3% Slovak 2% Serbian 1%
• Foreign-born: 3% · Canada
• Languages at home: 96% English-only · Other Indo-European 2% Spanish 1%

Political lean MEDSL · Lawrence

• 2024 margin: Solid R (+51.0) · D 23.6% · R 74.6% · Other 1.7%
• 2008→2024 swing: -30.5pp toward R · 2008: -20.6pp · 2024: -51.0pp
• All cycles: 2024: R+51.0 2020: R+50.6 2016: R+51.5 2012: R+32.8 2008: R+20.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 0.62%
• Current HPI: 248.9604
• 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

+241.8% since first listed

11 events — show timeline

• 2026-04-23 Listed $167,500 IRMLS
• 2023-07-25 Sold (Public Records) $160,000 Public Records
• 2023-07-25 Sold (MLS) $160,000 IRMLS
• 2023-06-28 Contingent — IRMLS
• 2023-06-23 Listed $149,900 IRMLS
• 2017-12-21 Sold (Public Records) $79,000 Public Records
• 2017-12-19 Sold (MLS) $79,000 IRMLS
• 2017-09-05 Listed $79,900 IRMLS
• 2017-08-04 Sold (Public Records) $44,500 Public Records
• 2017-07-28 Sold (MLS) $44,500 SIRA
• 2017-06-13 Listed $49,000 SIRA

Property tax history

+7.2%/yr

Latest (2025): $2,648 · +6.2% YoY. Source: county tax records.