3303 Blackford Dr · Tippecanoe, IN 46570

$49,900

3 bd · 1.0 ba · 1,248 sqft · SingleFamily public records · 63 Days on market

Built 1999 1.22 ac lot $40/sqft · 62% below area ↓ 13% 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
• Appreciation +8.7/10.0
• ARV discount +7.5/15.0
• Schools +4.1/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Investor Alert! Check out this 3 Bedroom Ranch Home, sitting on over an acre of land, with tons of upside potential. After a rehab this would make a great home to live in, flip it, or rental to add to your portfolio. Home has a great floor plan- main floor has open concept living room & kitchen, laundry/utility area, 3 nice sized bedrooms & bathroom. You will love the attached oversized garage/outbuilidng with cement floor- great for cars/hobbies/work area- you name it! Seller will only consider cash, AS-IS offers from buyers ready to close quickly. Buyer/buyer's agent to verify room dimensions, SF, zoning, utilities & schools

Key facts

• Acre of land
• Laundry utility area
• 1.22 acre lot

Tags

• OPEN CONCEPT LIVING ROOM
• ATTACHED OVERSIZED GARAGE
• LAUNDRY UTILITY AREA
• ACRE OF LAND

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $50k.

Deal economics

• At list price, monthly cash flow is $437 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $50k).
• Recommended offer: $47k (6.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads: area grade B — affects rentability + tenant quality, not the cash-flow math above.
• Triton School Corporation (rural): math 42% / reading 53% proficiency, ranked #77 of 301 in IN (top 26%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 3 active listings in the ZIP; 147 units permitted in Marshall County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $4k of equity ($345 loan paydown + $4k appreciation (7.4% local appreciation)).
• Marshall County population projected to shrink 9% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (7.4% appreciation + 3.0% rent growth), your $14k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 8, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 63 days — a 6% lower offer ($47k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $23k; list at $50k implies a 117% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 2.6% of price.
• Climate carrying-cost: moderate flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $46,906 (6.0% below list)

Questions for the listing agent

1. It's been on market 63 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
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. 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.
6. 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.
7. 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: 2.10% ✓
• Cap rate: 16.80%
• Cash-on-cash: 37.52%
• DSCR: 2.67
• GRM: 4.0

CMA / ARV

• ARV (median comp): $131,327
• List price: $49,900
• Delta: -62.00%
• Verdict: UNDERPRICED
• Comps: 7 within 1.0 mi

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3303 Blackford Dr	0.00mi	3/1.0	1,248 (0%)	1mo	$35,500	$28	99
3191 Blackford Dr	0.16mi	3/2.0	1,288 (+3%)	24mo	$235,000	$182	64
18448 State Road 331 Rd	0.52mi	3/1.0	1,432 (+15%)	7mo	$129,900	$91	46

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

Projected returns pro-forma

7.36% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 49.5%
• Equity multiple: 4.32×
• Total profit: $46,410
• Equity at exit: $35,766

10-year hold

• IRR: 45.2%
• Equity multiple: 9.17×
• Total profit: $114,083
• Equity at exit: $69,041

Cash invested: $13,972 (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 46570

• Home prices YoY: 2.7%
• Active inventory: 3
• Price-to-rent: 4.0×

Monthly cashflow live

• Estimated rent: $1,049 medium
• Mortgage (P&I): −$262
• Tax from tax record: −$110 /mo · $1,314/yr
• Insurance: −$21
• HOA: −$0
• Vacancy / Maint / Mgmt: −$220
• Net cashflow: $437

Break-even live

Break-even rent $496

Max offer price $49,900

Occupancy floor 53%

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: $12,475
• Closing costs: $1,497
• Reserves months: —
• Total cash needed: —

Listing history 9 events

1. 2026-05-19
   status Pending 652-char remark

   Show marketing remark (652 chars)

   Investor Alert! Check out this 3 Bedroom Ranch Home, sitting on over an acre of land, with tons of upside potential. After a rehab this would make a great home to live in, flip it, or rental to add to your portfolio. Home has a great floor plan- main floor has open concept living room & kitchen, laundry/utility area, 3 nice sized bedrooms & bathroom. You will love the attached oversized garage/outbuilidng with cement floor- great for cars/hobbies/work area- you name it! Seller will only consider cash, AS-IS offers from buyers ready to close quickly. Buyer/buyer's agent to verify room dimensions, SF, zoning, utilities & schools

2. 2026-05-07
   price $49,900 652-char remark

   Show marketing remark (652 chars)

   Investor Alert! Check out this 3 Bedroom Ranch Home, sitting on over an acre of land, with tons of upside potential. After a rehab this would make a great home to live in, flip it, or rental to add to your portfolio. Home has a great floor plan- main floor has open concept living room & kitchen, laundry/utility area, 3 nice sized bedrooms & bathroom. You will love the attached oversized garage/outbuilidng with cement floor- great for cars/hobbies/work area- you name it! Seller will only consider cash, AS-IS offers from buyers ready to close quickly. Buyer/buyer's agent to verify room dimensions, SF, zoning, utilities & schools

3. 2026-04-14
   price $54,900 652-char remark

   Show marketing remark (652 chars)

   Investor Alert! Check out this 3 Bedroom Ranch Home, sitting on over an acre of land, with tons of upside potential. After a rehab this would make a great home to live in, flip it, or rental to add to your portfolio. Home has a great floor plan- main floor has open concept living room & kitchen, laundry/utility area, 3 nice sized bedrooms & bathroom. You will love the attached oversized garage/outbuilidng with cement floor- great for cars/hobbies/work area- you name it! Seller will only consider cash, AS-IS offers from buyers ready to close quickly. Buyer/buyer's agent to verify room dimensions, SF, zoning, utilities & schools

4. 2026-04-01
   price $59,900 652-char remark

   Show marketing remark (652 chars)

   Investor Alert! Check out this 3 Bedroom Ranch Home, sitting on over an acre of land, with tons of upside potential. After a rehab this would make a great home to live in, flip it, or rental to add to your portfolio. Home has a great floor plan- main floor has open concept living room & kitchen, laundry/utility area, 3 nice sized bedrooms & bathroom. You will love the attached oversized garage/outbuilidng with cement floor- great for cars/hobbies/work area- you name it! Seller will only consider cash, AS-IS offers from buyers ready to close quickly. Buyer/buyer's agent to verify room dimensions, SF, zoning, utilities & schools

5. 2026-03-26
   price $62,900 652-char remark

   Show marketing remark (652 chars)

   Investor Alert! Check out this 3 Bedroom Ranch Home, sitting on over an acre of land, with tons of upside potential. After a rehab this would make a great home to live in, flip it, or rental to add to your portfolio. Home has a great floor plan- main floor has open concept living room & kitchen, laundry/utility area, 3 nice sized bedrooms & bathroom. You will love the attached oversized garage/outbuilidng with cement floor- great for cars/hobbies/work area- you name it! Seller will only consider cash, AS-IS offers from buyers ready to close quickly. Buyer/buyer's agent to verify room dimensions, SF, zoning, utilities & schools

6. 2026-03-17
   listed $64,900 Active 652-char remark

   Show marketing remark (652 chars)

   Investor Alert! Check out this 3 Bedroom Ranch Home, sitting on over an acre of land, with tons of upside potential. After a rehab this would make a great home to live in, flip it, or rental to add to your portfolio. Home has a great floor plan- main floor has open concept living room & kitchen, laundry/utility area, 3 nice sized bedrooms & bathroom. You will love the attached oversized garage/outbuilidng with cement floor- great for cars/hobbies/work area- you name it! Seller will only consider cash, AS-IS offers from buyers ready to close quickly. Buyer/buyer's agent to verify room dimensions, SF, zoning, utilities & schools

7. 2026-02-27
   soldstatus $23,000
8. 2017-05-23
   soldstatus $40,000
9. 2015-05-26
   soldstatus $57,357

ⓘ 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: $1,314 · $110/mo
• Projected year-2 tax: $1,314 · $110/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 5/10 Major FEMA zone X (unshaded) · 45% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥100°F today · 16 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 3/10 Moderate 1 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $12,591
• − Mortgage interest: −$2,795
• − Property taxes: −$1,314
• − Insurance: −$250
• − Repairs & maintenance: −$1,007
• − Management: −$1,007
• − Depreciation: −$1,452
• Taxable income: $4,766
• Est. tax owed @ 24.0%: −$1,144
• After-tax cash flow: $4,099/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: Triton School Corporation
• NCES district ID: 1811490
• Math proficiency: 42% ▼ -12.00%
• Reading proficiency: 53% ▼ -7.00%
• Median HH income: $49,458
• Composite: 40.62/100
• National rank: #3688
• State rank: #77 of 301 in IN

Livability — Tippecanoe

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

Census & demographics

• Census place: Tippecanoe, IN
• City population: 1,140
• Population (ZIP): 1,140

Population outlook (Marshall County) Hauer SSP2

• Today (2025): 46,402 people
• By 2030: 45,775 · -1.4%
• By 2040: 44,220 · -4.7%
• By 2050: 42,329 · -8.8%
• By 2075: 38,235 · -17.6%
• By 2100: 33,285 · -28.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (98%)
• Race & ethnicity: White 98% Hispanic / Latino 2%
• Common ancestry: Iranian 1% Lithuanian 1% Serbian 1%
• Foreign-born: 2% · Canada
• Languages at home: 94% English-only · German/W. Germanic 5% Spanish 2%

Political lean MEDSL · Marshall

• 2024 margin: Solid R (+43.4) · D 27.4% · R 70.8% · Other 1.8%
• 2008→2024 swing: -29.8pp toward R · 2008: -13.6pp · 2024: -43.4pp
• All cycles: 2024: R+43.4 2020: R+40.8 2016: R+41.6 2012: R+28.9 2008: R+13.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 7.36%
• Current HPI: 278.7075
• 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

-13.0% since first listed

9 events — show timeline

• 2026-05-19 Pending — IRMLS
• 2026-05-07 Price Changed $49,900 IRMLS
• 2026-04-14 Price Changed $54,900 IRMLS
• 2026-04-01 Price Changed $59,900 IRMLS
• 2026-03-26 Price Changed $62,900 IRMLS
• 2026-03-17 Listed $64,900 IRMLS
• 2026-02-27 Sold (Public Records) $23,000 Public Records
• 2017-05-23 Sold (Public Records) $40,000 Public Records
• 2015-05-26 Sold (Public Records) $57,357 Public Records

Property tax history

+13.9%/yr

Latest (2025): $1,314 · +6.4% YoY. Source: county tax records.