1208 S State Road 213 · Hobbs, IN 46072

$129,900

3 bd · 1.5 ba · 1,303 sqft · SingleFamily public records · 1 Days on market

Built 1961 0.46 ac lot Est $132k · at est.

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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 +28.1/30.0
• DSCR +10.0/10.0
• ARV discount +8.1/15.0
• 1% rule +7.7/10.0
• Schools +3.5/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

This brick ranch sits on a large lot and offers the space and setting to enjoy a little extra room to spread out. With well and septic already in place, the property provides a more private feel while still offering the convenience of single-level living. If you've been looking for a home with solid bones and plenty of potential, this one is worth a closer look. Built in 1961, this home offers 1,303 square feet of living space with durable brick exterior and vinyl windows. The layout includes 3 bedrooms and 1 full bath, plus an additional toilet located in the laundry area for added convenience. The attached garage has been converted into a functional workspace, making it ideal for hobbies, storage, or projects. With a large yard and a practical floor plan, this property offers a great opportunity to make it your own.

Key facts

• Well and septic
• Vinyl windows
• Functional workspace

Tags

• LARGE LOT
• WELL AND SEPTIC
• SINGLE-LEVEL LIVING
• DURABLE BRICK EXTERIOR
• VINYL WINDOWS
• FUNCTIONAL WORKSPACE

Property features AI

Exterior

• Parking: Attached garage (1 car)
• Utilities: Private water; Septic system; Solid waste service available
• Home design: Single family residence; One story
• Construction: Brick and vinyl siding; Slab foundation
• Exterior features: Approximately 0.46-acre lot (1/4–1/2 acre)

Interior

• Kitchen: Dishwasher; Electric oven; Refrigerator
• Bedrooms: 3 bedrooms on the main level
• Bathrooms: 1 full bathroom on the main level
• Heating & cooling: Electric heating; Central air conditioning
• Interior features: Woodwork stained or painted
• Laundry & utility: Main-level laundry

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $130k.

Deal economics

• At list price, monthly cash flow is $410 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $130k).

Location & tenants

• Location reads: area grade C — affects rentability + tenant quality, not the cash-flow math above.
• Tipton Community School Corporation (town): math 38% / reading 43% proficiency, ranked #130 of 301 in IN (top 43%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Tipton Elementary School (math 55% / reading 44%, grade D, #279 of 994 statewide, top 30%, 668 students, 48% FRL); Tipton Middle School (math 25% / reading 39%, grade F, #190 of 330 statewide, top 59%, 335 students, 44% FRL); Tipton High School (math 32% / reading 52%, grade F, #197 of 369 statewide, top 57%, 439 students, 33% FRL).
• Market conditions: 53 active listings in the ZIP; 32 units permitted in Tipton County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $898 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Tipton County population projected at -23% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $36k cash investment doubles in ~9 years — 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 since 19y 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 $60k; list at $130k implies a 116% gain — meaningful room to come down on a strong offer.

Recommended offer $129,900

Questions for the listing agent

1. Built in 1961 — 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. 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.
4. 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.
5. 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: 1.27% ✓
• Cap rate: 10.08%
• Cash-on-cash: 13.51%
• DSCR: 1.60
• GRM: 6.6

CMA / ARV

• ARV (on-the-fly): $131,603
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1208 S State Road 213	0.00mi	3/1.0	1,303 (0%)	1mo	$131,000	$101	97

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 3.6%
• Equity multiple: 1.14×
• Total profit: $5,057
• Equity at exit: $19,369

10-year hold

• IRR: 13.1%
• Equity multiple: 2.05×
• Total profit: $38,084
• Equity at exit: $11,231

Cash invested: $36,372 (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 46072

• Home prices YoY: -28.7%
• Active inventory: 53
• Price-to-rent: 6.6×

Monthly cashflow live

• Estimated rent: $1,651 medium
• Mortgage (P&I): −$681
• Tax from tax record: −$160 /mo · $1,916/yr
• Insurance: −$54
• HOA: −$0
• Vacancy / Maint / Mgmt: −$347
• Net cashflow: $410

Break-even live

Break-even rent $1,133

Max offer price $129,900

Occupancy floor 70%

Sensitivity live

Price	-10% $483	-5% $446	+0% $410	+5% $373	+10% $336
Rent	-10% $279	-5% $344	+0% $410	+5% $475	+10% $540
Rate	-1.0pp $475	-0.5pp $443	base $410	+0.5pp $376	+1.0pp $342

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: $32,475
• Closing costs: $3,897
• Reserves months: —
• Total cash needed: —

Listing history 7 events

1. 2026-05-15
   status Pending 829-char remark

   Show marketing remark (829 chars)

   This brick ranch sits on a large lot and offers the space and setting to enjoy a little extra room to spread out. With well and septic already in place, the property provides a more private feel while still offering the convenience of single-level living. If you've been looking for a home with solid bones and plenty of potential, this one is worth a closer look. Built in 1961, this home offers 1,303 square feet of living space with durable brick exterior and vinyl windows. The layout includes 3 bedrooms and 1 full bath, plus an additional toilet located in the laundry area for added convenience. The attached garage has been converted into a functional workspace, making it ideal for hobbies, storage, or projects. With a large yard and a practical floor plan, this property offers a great opportunity to make it your own.

2. 2026-05-15
   status Pending

   Show marketing remark (829 chars)

   This brick ranch sits on a large lot and offers the space and setting to enjoy a little extra room to spread out. With well and septic already in place, the property provides a more private feel while still offering the convenience of single-level living. If you've been looking for a home with solid bones and plenty of potential, this one is worth a closer look. Built in 1961, this home offers 1,303 square feet of living space with durable brick exterior and vinyl windows. The layout includes 3 bedrooms and 1 full bath, plus an additional toilet located in the laundry area for added convenience. The attached garage has been converted into a functional workspace, making it ideal for hobbies, storage, or projects. With a large yard and a practical floor plan, this property offers a great opportunity to make it your own.

3. 2026-05-14
   listed $129,900 Active 829-char remark

   Show marketing remark (829 chars)

   This brick ranch sits on a large lot and offers the space and setting to enjoy a little extra room to spread out. With well and septic already in place, the property provides a more private feel while still offering the convenience of single-level living. If you've been looking for a home with solid bones and plenty of potential, this one is worth a closer look. Built in 1961, this home offers 1,303 square feet of living space with durable brick exterior and vinyl windows. The layout includes 3 bedrooms and 1 full bath, plus an additional toilet located in the laundry area for added convenience. The attached garage has been converted into a functional workspace, making it ideal for hobbies, storage, or projects. With a large yard and a practical floor plan, this property offers a great opportunity to make it your own.

4. 2026-05-14
   listed $129,900 Active

   Show marketing remark (829 chars)

   This brick ranch sits on a large lot and offers the space and setting to enjoy a little extra room to spread out. With well and septic already in place, the property provides a more private feel while still offering the convenience of single-level living. If you've been looking for a home with solid bones and plenty of potential, this one is worth a closer look. Built in 1961, this home offers 1,303 square feet of living space with durable brick exterior and vinyl windows. The layout includes 3 bedrooms and 1 full bath, plus an additional toilet located in the laundry area for added convenience. The attached garage has been converted into a functional workspace, making it ideal for hobbies, storage, or projects. With a large yard and a practical floor plan, this property offers a great opportunity to make it your own.

5. 2024-11-15
   soldstatus $60,000
6. 2008-03-30
   historical
7. 2007-03-31
   listed $89,900

ⓘ 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: $1,916 · $160/mo
• Projected year-2 tax: $1,916 · $160/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 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥100°F today · 18 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $19,815
• − Mortgage interest: −$7,276
• − Property taxes: −$1,916
• − Insurance: −$650
• − Repairs & maintenance: −$1,585
• − Management: −$1,585
• − Depreciation: −$3,779
• Taxable income: $3,024
• Est. tax owed @ 24.0%: −$726
• After-tax cash flow: $4,189/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: Tipton Community School Corporation
• NCES district ID: 1811400
• Math proficiency: 38% ▼ -10.00%
• Reading proficiency: 43% ▼ -9.00%
• Median HH income: $51,073
• Composite: 35.0/100
• National rank: #5048
• State rank: #130 of 301 in IN

Livability — Hobbs

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• Census place: Hobbs, IN
• City population: 18
• Population (ZIP): 8,751

Population outlook (Tipton County) Hauer SSP2

• Today (2025): 14,332 people
• By 2030: 13,717 · -4.3%
• By 2040: 12,357 · -13.8%
• By 2050: 11,032 · -23.0%
• By 2075: 8,640 · -39.7%
• By 2100: 6,544 · -54.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (93%)
• Race & ethnicity: White 93% Hispanic / Latino 4% Two or more races 3% Black 1%
• Common ancestry: Italian 2% Slovak 2% Lithuanian 2%
• Foreign-born: 2% · Canada
• Languages at home: 97% English-only · Spanish 2%

Political lean MEDSL · Tipton

• 2024 margin: Solid R (+50.8) · D 23.7% · R 74.5% · Other 1.7%
• 2008→2024 swing: -35.5pp toward R · 2008: -15.4pp · 2024: -50.8pp
• All cycles: 2024: R+50.8 2020: R+52.7 2016: R+53.3 2012: R+31.8 2008: R+15.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -105.28%
• Current HPI: 261.1877
• 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

+44.5% since first listed

7 events — show timeline

• 2026-05-15 Pending — IRMLS
• 2026-05-15 Pending — MIBOR as Distributed by MLS Grid
• 2026-05-14 Listed $129,900 MIBOR as Distributed by MLS Grid
• 2026-05-14 Listed $129,900 IRMLS
• 2024-11-15 Sold (Public Records) $60,000 Public Records
• 2008-03-30 Listing Removed — MIBOR as Distributed by MLS Grid
• 2007-03-31 Listed $89,900 MIBOR as Distributed by MLS Grid

Property tax history

+19.4%/yr

Latest (2024): $1,916 · +2.9% YoY. Source: county tax records.