614 E Center St · Hazleton, IN 47640

$40,000

2 bd · 1.5 ba · 1,422 sqft · SingleFamily public records · 114 Days on market

Built 1930 2.10 ac lot $28/sqft · 70% below area

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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
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• Livability +3.1/5.0
• Schools +2.7/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Fixer upper, investment opportunity! Home and detached garage in need of extensive repair. Also could be a great spot for a new home! Selling AS IS

Key facts

• 2.1 acre lot
• 2 garage spots
• Built 1930

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath single-family listed at $40k.

Deal economics

• At list price, monthly cash flow is $582 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $40k).
• Recommended offer: $36k (9.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 61/100 on livability (#493 in IN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: crime D, employment D, schools F.
• North Gibson School Corporation (rural): math 28% / reading 36% proficiency, ranked #223 of 301 in IN (top 74%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 7 active listings in the ZIP; 167 units permitted in Gibson County in 2024 (68 in 5+ unit buildings).

Forward outlook

• In year one you build about $4k of equity ($277 loan paydown + $4k appreciation (10.0% local appreciation)).
• Gibson County population projected to shrink 10% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $11k cash investment doubles in ~1 year — after that, you're playing with house money.
• By year 7, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 114 days — a 9% lower offer ($36k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $25k; list at $40k implies a 60% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1930 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $36,400 (9.0% below list)

Questions for the listing agent

1. It's been on market 114 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1930 — 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: 2.71% ✓
• Cap rate: 23.74%
• Cash-on-cash: 62.33%
• DSCR: 3.77
• GRM: 3.1

CMA / ARV

• ARV (median comp): $133,840
• List price: $40,000
• Delta: -70.11%
• Verdict: UNDERPRICED
• Comps: 4 within 1.0 mi

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
500 E Second St	0.21mi	2/1.0	1,336 (-6%)	20mo	$155,000	$116	62
212 E Third St	0.37mi	3/1.0 (+1)	1,478 (+4%)	14mo	$108,000	$73	58

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

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 74.2%
• Equity multiple: 6.25×
• Total profit: $58,850
• Equity at exit: $36,035

10-year hold

• IRR: 68.2%
• Equity multiple: 13.87×
• Total profit: $144,198
• Equity at exit: $77,711

Cash invested: $11,200 (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 47640

• Home prices YoY: 4.9%
• Active inventory: 7
• Price-to-rent: 3.1×

Monthly cashflow live

• Estimated rent: $1,083 medium
• Mortgage (P&I): −$210
• Tax from tax record: −$48 /mo · $572/yr
• Insurance: −$17
• HOA: −$0
• Vacancy / Maint / Mgmt: −$227
• Net cashflow: $582

Break-even live

Break-even rent $347

Max offer price $40,000

Occupancy floor 41%

Sensitivity live

Price	-10% $604	-5% $593	+0% $582	+5% $570	+10% $559
Rent	-10% $496	-5% $539	+0% $582	+5% $625	+10% $667
Rate	-1.0pp $602	-0.5pp $592	base $582	+0.5pp $571	+1.0pp $561

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: $10,000
• Closing costs: $1,200
• Reserves months: —
• Total cash needed: —

Listing history 18 events

1. 2026-06-21
   days on market $40,000 Active 114 DOM
2. 2026-06-18
   days on market $40,000 Active 112 DOM
3. 2026-06-17
   days on market $40,000 Active 111 DOM
4. 2026-06-16
   days on market $40,000 Active 110 DOM
5. 2026-06-15
   days on market $40,000 Active 109 DOM
6. 2026-06-13
   days on market $40,000 Active 107 DOM
7. 2026-06-12
   days on market $40,000 Active 106 DOM
8. 2026-06-09
   days on market $40,000 Active 103 DOM
9. 2026-06-08
   days on market $40,000 Active 102 DOM
10. 2026-06-07
    days on market $40,000 Active 101 DOM
11. 2026-06-04
    days on market $40,000 Active 97 DOM
12. 2026-06-02
    days on market $40,000 Active 96 DOM
13. 2026-06-01
    days on market $40,000 Active 95 DOM
14. 2026-05-31
    days on market $40,000 Active 94 DOM
15. 2026-05-31
    days on market $40,000 Active 93 DOM
16. 2026-02-26
    listed $40,000 Active 147-char remark

    Show marketing remark (147 chars)

    Fixer upper, investment opportunity! Home and detached garage in need of extensive repair. Also could be a great spot for a new home! Selling AS IS

17. 2017-04-13
    soldstatus $25,000
18. 2011-04-18
    soldstatus $32,500

ⓘ 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: $572 · $48/mo
• Projected year-2 tax: $572 · $48/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 4/10 Moderate 7 d/yr ≥106°F today · 19 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 3% 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: $13,000
• − Mortgage interest: −$2,241
• − Property taxes: −$572
• − Insurance: −$200
• − Repairs & maintenance: −$1,040
• − Management: −$1,040
• − Depreciation: −$1,164
• Taxable income: $6,744
• Est. tax owed @ 24.0%: −$1,618
• After-tax cash flow: $5,362/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: North Gibson School Corporation
• NCES district ID: 1807770
• Math proficiency: 28% ▼ -10.00%
• Reading proficiency: 36% ▼ -4.00%
• Median HH income: $44,595
• Composite: 27.32/100
• National rank: #6992
• State rank: #223 of 301 in IN

Livability — Hazleton

• Score: 61/100
• State rank: #493
• US rank: #17550

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: Hazleton, IN
• Population (ZIP): 882

Population outlook (Gibson County) Hauer SSP2

• Today (2025): 33,671 people
• By 2030: 33,409 · -0.8%
• By 2040: 32,364 · -3.9%
• By 2050: 30,453 · -9.6%
• By 2075: 24,610 · -26.9%
• By 2100: 16,217 · -51.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (97%)
• Race & ethnicity: White 97% Two or more races 3%
• Common ancestry: Slovak 7% Romanian 6% Lithuanian 4%

Political lean MEDSL · Gibson

• 2024 margin: Solid R (+51.4) · D 23.4% · R 74.8% · Other 1.8%
• 2008→2024 swing: -38.2pp toward R · 2008: -13.2pp · 2024: -51.4pp
• All cycles: 2024: R+51.4 2020: R+48.2 2016: R+47.6 2012: R+31.0 2008: R+13.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 11.50%
• Current HPI: 247.5918
• 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

+23.1% since first listed

3 events — show timeline

• 2026-02-26 Listed $40,000 IRMLS
• 2017-04-13 Sold (Public Records) $25,000 Public Records
• 2011-04-18 Sold (Public Records) $32,500 Public Records

Property tax history

+0.8%/yr

Latest (2024): $572 · -4.8% YoY. Source: county tax records.