101 Hamlet St · Hamlet, IN 46532

$64,000

3 bd · 1.0 ba · 1,560 sqft · SingleFamily public records · 121 Days on market

Built 1960 6,098 sqft lot $41/sqft · 66% below area ↓ 20% since listing

---

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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Appreciation +3.6/10.0
• Livability +3.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.3/10.0

Listing remarks MLS

Great opportunity for investors or buyers looking for their next project! This 1.5-story home offers 3 bedrooms and 1 full bath with plenty of potential to add value. Property requires significant repairs and updates and is being sold as-is. Seller financing available, providing flexible options for the right buyer. Bring your vision and tools-this one is ready for transformation.

Key facts

• 6,098 sq ft lot
• Built 1960
• Listed 120 days

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $64k.

Deal economics

• At list price, monthly cash flow is $575 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $64k).
• Recommended offer: $56k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 59/100 on livability (#572 in IN) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+; Watch: employment D+, crime D, schools F.
• Oregon-Davis School Corporation (rural): math 19% / reading 34% proficiency, ranked #257 of 301 in IN (top 85%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 11 active listings in the ZIP; 58 units permitted in Starke County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-2.9%/yr); year-one equity from $442 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Starke County population projected at -23% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-2.9% appreciation + 3.0% rent growth), your $18k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 121 days — a 12% lower offer ($56k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $6k (9%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Recommended offer $56,320 (12.0% below list)

Questions for the listing agent

1. It's been on market 121 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1960 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
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: 1.91% ✓
• Cap rate: 17.07%
• Cash-on-cash: 38.48%
• DSCR: 2.71
• GRM: 4.4

CMA / ARV

• ARV (median comp): $186,912
• List price: $64,000
• Delta: -65.76%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
113 Division St	0.08mi	2/1.0 (-1)	1,608 (+3%)	5mo	$159,000	$99	82
8 W Madison St	0.14mi	3/1.0	1,682 (+8%)	6mo	$124,900	$74	75
506 W Pearl St	0.20mi	4/1.0 (+1)	1,449 (-7%)	12mo	$160,000	$110	64
500 E Oak St	0.52mi	3/2.0	1,662 (+6%)	2mo	$270,000	$162	59
60 S Jefferson St	0.35mi	3/2.0	1,415 (-9%)	12mo	$250,500	$177	54

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

Projected returns pro-forma

-2.85% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 34.8%
• Equity multiple: 2.49×
• Total profit: $26,616
• Equity at exit: $9,966

10-year hold

• IRR: 41.5%
• Equity multiple: 4.94×
• Total profit: $70,595
• Equity at exit: $6,264

Cash invested: $17,920 (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 46532

• Home prices YoY: -1.2%
• Active inventory: 11
• Price-to-rent: 4.4×

Monthly cashflow live

• Estimated rent: $1,224 medium
• Mortgage (P&I): −$336
• Tax from tax record: −$30 /mo · $356/yr
• Insurance: −$27
• HOA: −$0
• Vacancy / Maint / Mgmt: −$257
• Net cashflow: $575

Break-even live

Break-even rent $496

Max offer price $64,000

Occupancy floor 48%

Sensitivity live

Price	-10% $611	-5% $593	+0% $575	+5% $557	+10% $538
Rent	-10% $478	-5% $526	+0% $575	+5% $623	+10% $671
Rate	-1.0pp $607	-0.5pp $591	base $575	+0.5pp $558	+1.0pp $541

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: $16,000
• Closing costs: $1,920
• Reserves months: —
• Total cash needed: —

Listing history 21 events

1. 2026-06-19
   days on market $64,000 Active 121 DOM
2. 2026-06-18
   days on market $64,000 Active 120 DOM
3. 2026-06-17
   days on market $64,000 Active 119 DOM
4. 2026-06-16
   days on market $64,000 Active 118 DOM
5. 2026-06-15
   days on market $64,000 Active 117 DOM
6. 2026-06-14
   days on market $64,000 Active 115 DOM
7. 2026-06-12
   days on market $64,000 Active 114 DOM
8. 2026-06-09
   days on market $64,000 Active 111 DOM
9. 2026-06-08
   days on market $64,000 Active 110 DOM
10. 2026-06-07
    days on market $64,000 Active 109 DOM
11. 2026-06-07
    days on market $64,000 Active 108 DOM
12. 2026-06-03
    days on market $64,000 Active 105 DOM
13. 2026-06-02
    days on market $64,000 Active 104 DOM
14. 2026-06-01
    days on market $64,000 Active 103 DOM
15. 2026-05-31
    days on market $64,000 Active 102 DOM
16. 2026-05-31
    days on market $64,000 Active 101 DOM
17. 2026-04-16
    price $64,000 383-char remark

    Show marketing remark (383 chars)

    Great opportunity for investors or buyers looking for their next project! This 1.5-story home offers 3 bedrooms and 1 full bath with plenty of potential to add value. Property requires significant repairs and updates and is being sold as-is. Seller financing available, providing flexible options for the right buyer. Bring your vision and tools-this one is ready for transformation.

18. 2026-02-16
    listed $70,000 Active 383-char remark

    Show marketing remark (383 chars)

    Great opportunity for investors or buyers looking for their next project! This 1.5-story home offers 3 bedrooms and 1 full bath with plenty of potential to add value. Property requires significant repairs and updates and is being sold as-is. Seller financing available, providing flexible options for the right buyer. Bring your vision and tools-this one is ready for transformation.

19. 2025-06-18
    price $67,500
20. 2025-05-19
    price $75,000
21. 2025-04-15
    listed $80,000 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: $356 · $30/mo
• Projected year-2 tax: $450 · $38/mo
• Expected delta: +$94/yr (+$8/mo · 26.3%)

ⓘ 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 2/10 Low 7 d/yr ≥101°F today · 16 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: $14,684
• − Mortgage interest: −$3,585
• − Property taxes: −$356
• − Insurance: −$320
• − Repairs & maintenance: −$1,175
• − Management: −$1,175
• − Depreciation: −$1,862
• Taxable income: $6,211
• Est. tax owed @ 24.0%: −$1,491
• After-tax cash flow: $5,405/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: Oregon-Davis School Corporation
• NCES district ID: 1808460
• Math proficiency: 19% ▼ -13.00%
• Reading proficiency: 34% ▼ -5.00%
• Median HH income: $46,674
• Composite: 22.93/100
• National rank: #7991
• State rank: #257 of 301 in IN

Livability — Hamlet

• Score: 59/100
• State rank: #572
• US rank: #20445

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Hamlet, IN
• Population (ZIP): 1,628

Population outlook (Starke County) Hauer SSP2

• Today (2025): 21,860 people
• By 2030: 21,024 · -3.8%
• By 2040: 19,041 · -12.9%
• By 2050: 16,881 · -22.8%
• By 2075: 11,880 · -45.7%
• By 2100: 7,217 · -67.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (97%)
• Race & ethnicity: White 97% Two or more races 3% Hispanic / Latino 2%
• Common ancestry: Romanian 5% Danish 1% Iranian 1%
• Foreign-born: 1%

Political lean MEDSL · Starke

• 2024 margin: Solid R (+52.0) · D 23.2% · R 75.3% · Other 1.5%
• 2008→2024 swing: -55.3pp toward R · 2008: 3.2pp · 2024: -52.0pp
• All cycles: 2024: R+52.0 2020: R+46.8 2016: R+42.0 2012: R+10.6 2008: D+3.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -2.85%
• Current HPI: 238.8515
• 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

-20.0% since first listed

5 events — show timeline

• 2026-04-16 Price Changed $64,000 NIRA MLS as Distributed by MLS Grid
• 2026-02-16 Listed $70,000 NIRA MLS as Distributed by MLS Grid
• 2025-06-18 Price Changed $67,500 IRMLS
• 2025-05-19 Price Changed $75,000 IRMLS
• 2025-04-15 Listed $80,000 IRMLS

Property tax history

+5.5%/yr

Latest (2024): $356 · -1.4% YoY. Source: county tax records.