1083 E South St · Greenfield, IN 46140

$89,900

3 bd · 1.0 ba · 1,008 sqft · SingleFamily public records · 7 Days on market

Built 1950 0.33 ac lot

---

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
• Schools +4.0/10.0
• Livability +3.7/5.0
• Rent growth +3.2/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Bank owned ranch home being sold 'as-is'. You must submit proof of funds or pre-approval letter, copy of earnest money check and signed bank addendums w/ your offer. Sided home needing much repair. Home may have some mold on the interior. (G-cou)

Key facts

• Spacious lot
• Updated bathroom
• 0.33 acre lot

Tags

• SPACIOUS LOT
• UPDATED BATHROOM
• UPDATED ELECTRICAL PANEL
• NEAR PENNSY TRAIL ACCESS
• NEAR HAWK'S TAIL GOLF COURSE
• NEAR DOWNTOWN GREENFIELD

Property features AI

Finance

• Other: Approximately 0.33-acre lot

Exterior

• Utilities: Public water; Municipal sewer connected; No solid waste service listed
• Home design: Single-family residence; One level
• Construction: Vinyl siding; Crawl space foundation
• Exterior features: Glass-enclosed patio/porch; No fence

Interior

• Kitchen: Kitchen (21x8)
• Bedrooms: 3 bedrooms on the main level
• Bathrooms: 1 full bathroom (main level)
• Heating & cooling: Forced air heating (natural gas); No central cooling
• Interior features: Attic access

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $90k.

Deal economics

• At list price, monthly cash flow is $821 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $90k).
• Cap rate 17.3% vs local median 4.4% in Greenfield — 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 73/100 on livability (#88 in IN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, schools B; Watch: amenities F, commute F.
• Greenfield-Central Community Schools (other): math 47% / reading 45% proficiency, ranked #83 of 301 in IN (top 28%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising (+2.9%/yr); 481 active listings in the ZIP; 10 comparable units currently listed for rent nearby; rentals leasing fast (median 5d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 1,091 units permitted in Hancock County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $622 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Hancock County population projected at +7% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (-3.0% appreciation + 2.9% rent growth), your $25k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• Only 7 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 23y 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 $30k; list at $90k implies a 201% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1950 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $89,900

Questions for the listing agent

1. Built in 1950 — 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 B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
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: 1.94% ✓
• Cap rate: 17.25%
• Cash-on-cash: 39.14%
• DSCR: 2.74
• GRM: 4.3

CMA / ARV

• ARV (on-the-fly): $198,576
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1083 E South St	0.00mi	3/1.0	1,008 (0%)	1mo	$95,000	$94	99
1214 E Third St	0.31mi	3/1.0	1,080 (+7%)	0mo	$125,000	$116	74
310 Cherry St	0.29mi	3/1.0	936 (-7%)	5mo	$150,000	$160	70
319 Brookstone Dr	0.59mi	3/2.0	1,110 (+10%)	2mo	$237,500	$214	50
131 Howard St	0.40mi	2/1.0 (-1)	864 (-14%)	3mo	$162,000	$188	50
1652 Sweetwater Ln	0.71mi	2/2.0 (-1)	1,022 (+1%)	10mo	$200,000	$196	47
1616 Sweetwater Ln	0.68mi	3/2.0	1,110 (+10%)	1mo	$235,000	$212	47
115 N Spring St	0.67mi	2/1.0 (-1)	950 (-6%)	13mo	$187,000	$197	43
1647 Sweetwater Ln	0.68mi	3/2.0	1,110 (+10%)	6mo	$229,900	$207	42
1696 Carlton Dr	0.67mi	3/2.0	1,110 (+10%)	13mo	$236,000	$213	37
1683 Sweetwater Ln	0.71mi	3/2.0	1,110 (+10%)	13mo	$232,000	$209	35
604 Wood St	0.73mi	2/1.0 (-1)	1,116 (+11%)	12mo	$209,000	$187	33

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 · 2.88% rent growth · sell at horizon

5-year hold

• IRR: 35.2%
• Equity multiple: 2.49×
• Total profit: $37,498
• Equity at exit: $13,404

10-year hold

• IRR: 41.9%
• Equity multiple: 4.94×
• Total profit: $99,064
• Equity at exit: $7,773

Cash invested: $25,172 (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 46140

• Rents YoY: 2.9%
• Active inventory: 481
• Price-to-rent: 4.3×

Monthly cashflow live

• Estimated rent: $1,741 high
• Mortgage (P&I): −$471
• Tax from tax record: −$46 /mo · $546/yr
• Insurance: −$37
• HOA: −$0
• Vacancy / Maint / Mgmt: −$366
• Net cashflow: $821

Break-even live

Break-even rent $702

Max offer price $89,900

Occupancy floor 48%

Sensitivity live

Price	-10% $872	-5% $846	+0% $821	+5% $796	+10% $770
Rent	-10% $683	-5% $752	+0% $821	+5% $890	+10% $959
Rate	-1.0pp $866	-0.5pp $844	base $821	+0.5pp $798	+1.0pp $774

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: $22,475
• Closing costs: $2,697
• Reserves months: —
• Total cash needed: —

Rent comps 10 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1027 E Fourth St Greenfield, IN	3.0	2.0	1430	$1,700	$1.19	24d	1	0.31mi
210 Flagstone Dr Greenfield, IN	1.0–3.0	1.0–2.5	1084	$2,254	$2.08	2d	17	0.33mi
1014 E Seventh St Greenfield, IN	3.0	1.0	1192	$1,400	$1.17	5d	1	0.52mi
432 Baldwin St Greenfield, IN	2.0	1.0	788	$1,425	$1.81	24d	1	0.55mi
550 Wood St Greenfield, IN	2.0	1.0	1162	$1,200	$1.03	4d	1	0.70mi
220 Walker St Greenfield, IN	3.0	1.0	1101	$1,400	$1.27	5d	1	0.83mi
917 E McKenzie Rd Greenfield, IN	1.0–2.0	1.0–1.5	918	$1,199	$1.31	2d	4	0.99mi
685 Gondola Run Greenfield, IN	3.0	2.0	1058	$1,750	$1.65	2d	1	1.26mi
713 Cattail Dr Greenfield, IN	3.0	2.0	1498	$2,045	$1.37	3d	1	1.34mi
821 W 7th St Greenfield, IN	2.0	2.0	1234	$1,700	$1.38	24d	1	1.44mi

Listing history 4 events

1. 2026-05-19
   status Pending
2. 2026-05-11
   listed $89,900 Active
3. 2003-07-29
   soldstatus $29,900 248-char remark

   Show marketing remark (248 chars)

   Bank owned ranch home being sold 'as-is'. You must submit proof of funds or pre-approval letter, copy of earnest money check and signed bank addendums w/ your offer. Sided home needing much repair. Home may have some mold on the interior. (G-cou)

4. 2003-07-12
   listed $29,900 248-char remark

   Show marketing remark (248 chars)

   Bank owned ranch home being sold 'as-is'. You must submit proof of funds or pre-approval letter, copy of earnest money check and signed bank addendums w/ your offer. Sided home needing much repair. Home may have some mold on the interior. (G-cou)

ⓘ 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: $546 · $46/mo
• Projected year-2 tax: $655 · $55/mo
• Expected delta: +$109/yr (+$9/mo · 19.9%)

ⓘ 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 3/10 Moderate 7 d/yr ≥102°F today · 18 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% 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: $20,893
• − Mortgage interest: −$5,036
• − Property taxes: −$546
• − Insurance: −$450
• − Repairs & maintenance: −$1,671
• − Management: −$1,671
• − Depreciation: −$2,615
• Taxable income: $8,903
• Est. tax owed @ 24.0%: −$2,137
• After-tax cash flow: $7,715/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: Greenfield-Central Community Schools
• NCES district ID: 1804050
• Math proficiency: 47% ▼ -12.00%
• Reading proficiency: 45% ▼ -11.00%
• Median HH income: $55,533
• Composite: 40.01/100
• National rank: #3827
• State rank: #83 of 301 in IN

Livability — Greenfield

• Score: 73/100
• State rank: #88
• US rank: #5094

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Greenfield, IN
• County: Hancock County · 59,521 people
• City population: 43,511
• Metro: Indianapolis-Carmel-Anderson, IN
• Population (ZIP): 43,511
• Household income: $83,056
• Rent vs Own: 26.1% rent · 73.9% own
• Severe rent burden: 795.0

Population outlook (Hancock County) Hauer SSP2

• Today (2025): 77,820 people
• By 2030: 79,914 · +2.7%
• By 2040: 82,734 · +6.3%
• By 2050: 83,348 · +7.1%
• By 2075: 82,439 · +5.9%
• By 2100: 74,181 · -4.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (92%)
• Race & ethnicity: White 92% Two or more races 5% Hispanic / Latino 3% Black 1%
• Common ancestry: Italian 3% Lithuanian 3% Slovak 1%
• Foreign-born: 3% · Canada
• Languages at home: 96% English-only · Spanish 2% Other Indo-European 1%

Political lean MEDSL · Hancock

• 2024 margin: Solid R (+33.7) · D 32.2% · R 65.9% · Other 1.9%
• 2008→2024 swing: -4.1pp toward R · 2008: -29.6pp · 2024: -33.7pp
• All cycles: 2024: R+33.7 2020: R+37.5 2016: R+44.8 2012: R+41.0 2008: R+29.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -131.67%
• Current HPI: 225.0367
• Rent YoY: ▲ 2.88%
• Metro: Indianapolis-Carmel-Anderson, IN
• 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

+200.7% since first listed

4 events — show timeline

• 2026-05-19 Pending — MIBOR as Distributed by MLS Grid
• 2026-05-11 Listed $89,900 MIBOR as Distributed by MLS Grid
• 2003-07-29 Sold (MLS) $29,900 MIBOR as Distributed by MLS Grid
• 2003-07-12 Listed $29,900 MIBOR as Distributed by MLS Grid

Property tax history

+10.6%/yr

Latest (2025): $546 · -5.4% YoY. Source: county tax records.