166 E Washington St · Bunker Hill, IN 46914

$145,000

3 bd · 1.5 ba · 1,550 sqft · SingleFamily public records · 9 Days on market

Built 1960 Est $260k · 44% 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 +12.7/30.0
• Appreciation +6.8/10.0
• DSCR +3.8/10.0
• Livability +3.1/5.0
• 1% rule +2.8/10.0
• Schools +2.8/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Lots of hardwoods and original woodwork in this spacious 4 bedroom home. Large kitchen with attached dining area. Original stained glass window. Wooden staircase leads you upstairs. This just needs a little attention to be a beautiful home. Priced Right!!!!

Key facts

• Built 1960
• Listed 8 days

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $145k.

Deal economics

• At list price, monthly cash flow is $-17 ($-199/yr) — negative.
• To cash-flow at today's rent, offer at most $142k (2.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $114k (21.5% below list).
• Recommended offer: $114k (21.5% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 62/100 on livability (#462 in IN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: crime D+, schools D-, amenities F.
• Maconaquah School Corporation (rural): math 25% / reading 40% proficiency, ranked #213 of 301 in IN (top 71%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 4 active listings in the ZIP; 35 units permitted in Miami County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $6k of equity ($1k loan paydown + $5k appreciation (3.5% local appreciation)).
• Miami County population projected at -12% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (3.5% appreciation + 3.0% rent growth), your $41k cash investment doubles in ~6 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

• Only 9 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 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.
• Current owner paid $16k; list at $145k implies a 779% gain — meaningful room to come down on a strong offer.

Recommended offer $113,758 (21.5% 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. Built in 1960 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. 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?
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: 0.78% ✗
• Cap rate: 6.16%
• Cash-on-cash: -0.49%
• DSCR: 0.98
• GRM: 10.6

CMA / ARV

• ARV (on-the-fly): $260,400
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
147 S West St	0.19mi	3/1.0	1,466 (-5%)	12mo	$154,000	$105	70
650 S Elm St	0.45mi	3/1.5	1,320 (-15%)	10mo	$221,900	$168	46

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

Projected returns pro-forma

3.54% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 8.6%
• Equity multiple: 1.51×
• Total profit: $20,555
• Equity at exit: $69,648

10-year hold

• IRR: 10.8%
• Equity multiple: 2.71×
• Total profit: $69,568
• Equity at exit: $110,931

Cash invested: $40,600 (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 46914

• Home prices YoY: 1.6%
• Active inventory: 4
• Price-to-rent: 10.6×

Monthly cashflow live

• Estimated rent: $1,138 medium
• Mortgage (P&I): −$760
• Tax from tax record: −$94 /mo · $1,134/yr
• Insurance: −$60
• HOA: −$0
• Vacancy / Maint / Mgmt: −$239
• Net cashflow: $-17

Break-even live

Break-even rent $1,159

Max offer price $142,065

Occupancy floor 96%

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: $36,250
• Closing costs: $4,350
• Reserves months: —
• Total cash needed: —

Listing history 8 events

1. 2026-06-19
   days on market $145,000 Active 9 DOM
2. 2026-06-18
   days on market $145,000 Active 8 DOM
3. 2026-06-17
   days on market $145,000 Active 7 DOM
4. 2026-06-16
   days on market $145,000 Active 6 DOM
5. 2026-06-15
   days on market $145,000 Active 5 DOM
6. 2026-06-14
   days on market $145,000 Active 3 DOM
7. 2026-06-13
   remarks 597-char remark
8. 2026-06-13
   listed $145,000 Active 2 DOM

ⓘ 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: $1,134 · $94/mo
• Projected year-2 tax: $1,183 · $99/mo
• Expected delta: +$49/yr (+$4/mo · 4.3%)

ⓘ 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 3/10 Moderate 7 d/yr ≥101°F today · 17 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 0% 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: $13,651
• − Mortgage interest: −$8,122
• − Property taxes: −$1,134
• − Insurance: −$725
• − Repairs & maintenance: −$1,092
• − Management: −$1,092
• − Depreciation: −$4,218
• Taxable loss: −$2,733
• Est. tax savings @ 24.0%: +$656
• After-tax cash flow: $456/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: Maconaquah School Corporation
• NCES district ID: 1806090
• Math proficiency: 25% ▼ -12.00%
• Reading proficiency: 40% ▼ -6.00%
• Median HH income: $47,296
• Composite: 27.96/100
• National rank: #6859
• State rank: #213 of 301 in IN

Livability — Bunker Hill

• Score: 62/100
• State rank: #462
• US rank: #16323

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Bunker Hill, IN
• Population (ZIP): 3,997

Population outlook (Miami County) Hauer SSP2

• Today (2025): 34,421 people
• By 2030: 33,571 · -2.5%
• By 2040: 31,919 · -7.3%
• By 2050: 30,313 · -11.9%
• By 2075: 26,202 · -23.9%
• By 2100: 20,856 · -39.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (72%)
• Race & ethnicity: White 72% Black 14% Two or more races 5% Hispanic / Latino 5% Asian 4%
• Common ancestry: Portuguese 2% Subsaharan African 1% Italian 1%
• Foreign-born: 4% · China
• Languages at home: 92% English-only · Chinese 4% Spanish 2% German/W. Germanic 1%

Political lean MEDSL · Miami

• 2024 margin: Solid R (+54.5) · D 21.8% · R 76.3% · Other 1.9%
• 2008→2024 swing: -35.1pp toward R · 2008: -19.5pp · 2024: -54.5pp
• All cycles: 2024: R+54.5 2020: R+53.1 2016: R+53.6 2012: R+30.9 2008: R+19.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 3.54%
• Current HPI: 222.7666
• 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

+61.1% since first listed

4 events — show timeline

• 2026-06-11 Listed $145,000 FSBO.com
• 2017-10-20 Sold (MLS) $16,500 IRMLS
• 2017-08-16 Listed $22,900 IRMLS
• 2007-07-19 Sold (Public Records) $90,000 Public Records

Property tax history

-4.2%/yr

Latest (2024): $1,134 · +0.5% YoY. Source: county tax records.