132 Southeast St · Charlottesville, IN 46117

$115,000

2 bd · 1.0 ba · 726 sqft · SingleFamily public records · 109 Days on market

Built 1960 0.37 ac lot

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Why this score? — see what drove the D 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 +10.1/30.0
• ARV discount +7.5/15.0
• Appreciation +6.6/10.0
• Schools +4.3/10.0
• DSCR +2.9/10.0
• 1% rule +2.7/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

HUD HOME SOLD IN AS-IS CONDITION. COOPERATING BROKERS MAY RECEIVE UP TO 5% COMMISSION. FOR INFORMATION ON LEAD-BASE PAINT, ELECTRONIC BIDDING AND EARNEST MONEY PROCEDURES SEE THE WEB ADDRESS'S AT THE BOTTOM OF THE PAGE OR ASK ANY REAL ESTATE AGENT. CASE NUMBER: 151-507393 INSURED STATUS: IN

Key facts

• Beautiful brook
• Large eat-in kitchen
• Extra large lot

Tags

• EXTRA LARGE LOT
• EXTRA PARKING OFF ALLEY
• BEAUTIFUL BROOK
• GLASSED IN FRONT PORCH
• LARGE UTILITY ROOM
• LARGE EAT-IN KITCHEN

Property features AI

Finance

• Other: Approximately 0.37-acre lot (about 1/4–1/2 acre)

Exterior

• Parking: Detached 2-car garage
• Utilities: Private water source; Septic system
• Home design: Single-family residence; One story; Property described as both fixer and updated/remodeled
• Construction: Vinyl siding; Cellar foundation
• Exterior features: Glass-enclosed patio/porch; Mature trees; Access

Interior

• Kitchen: No appliances listed
• Bedrooms: Two bedrooms on the main level
• Flooring: Hardwood floors
• Bathrooms: One full bathroom on the main level
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: Hardwood floors; Glass-enclosed patio/porch
• Laundry & utility: Dedicated laundry room

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $115k.

Deal economics

• At list price, monthly cash flow is $-68 ($-819/yr) — negative.
• To cash-flow at today's rent, offer at most $103k (10.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $89k (22.9% below list).
• Recommended offer: $89k (22.9% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads: area grade D — affects rentability + tenant quality, not the cash-flow math above.
• Eastern Hancock County Community School Corporation (rural): math 48% / reading 50% proficiency, ranked #49 of 301 in IN (top 16%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Eastern Hancock Elementary School (math 57% / reading 47%, grade C-, #237 of 994 statewide, top 26%, 533 students, 32% FRL); Eastern Hancock Middle School (math 38% / reading 44%, grade F, #113 of 330 statewide, top 35%, 268 students, 35% FRL); Eastern Hancock High School (math 52% / reading 72%, grade B-, #41 of 369 statewide, top 12%, 378 students, 31% FRL).
• Market conditions: 4 active listings in the ZIP; 1,091 units permitted in Hancock County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $4k of equity ($795 loan paydown + $4k appreciation (3.2% local appreciation)).
• Hancock County population projected at +7% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (3.2% appreciation + 3.0% rent growth), your $32k cash investment doubles in ~7 years — after that, you're playing with house money.
• By year 8, paydown + projected appreciation supports a ~$33k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 109 days — a 9% lower offer ($105k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 27y 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.

Recommended offer $88,646 (22.9% 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. It's been on market 109 days. Have you received any prior offers? Is the seller open to a 23% concession, seller financing, or rate buy-down credit?
3. Built in 1960 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 0.77% ✗
• Cap rate: 5.58%
• Cash-on-cash: -2.54%
• DSCR: 0.89
• GRM: 10.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

3.17% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 5.7%
• Equity multiple: 1.33×
• Total profit: $10,564
• Equity at exit: $52,834

10-year hold

• IRR: 8.6%
• Equity multiple: 2.32×
• Total profit: $42,407
• Equity at exit: $82,310

Cash invested: $32,200 (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 46117

• Home prices YoY: 1.4%
• Active inventory: 4
• Price-to-rent: 10.8×

Monthly cashflow live

• Estimated rent: $886 medium
• Mortgage (P&I): −$603
• Tax from tax record: −$118 /mo · $1,410/yr
• Insurance: −$48
• HOA: −$0
• Vacancy / Maint / Mgmt: −$186
• Net cashflow: $-68

Break-even live

Break-even rent $973

Max offer price $102,950

Occupancy floor —

Sensitivity live

Price	-10% $-3	-5% $-36	+0% $-68	+5% $-101	+10% $-133
Rent	-10% $-138	-5% $-103	+0% $-68	+5% $-33	+10% $2
Rate	-1.0pp $-10	-0.5pp $-39	base $-68	+0.5pp $-98	+1.0pp $-128

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: $28,750
• Closing costs: $3,450
• Reserves months: —
• Total cash needed: —

Listing history 26 events

1. 2026-06-21
   days on market $115,000 Active 109 DOM
2. 2026-06-18
   days on market $115,000 Active 106 DOM
3. 2026-06-17
   days on market $115,000 Active 105 DOM
4. 2026-06-16
   days on market $115,000 Active 104 DOM
5. 2026-06-15
   days on market $115,000 Active 103 DOM
6. 2026-06-13
   days on market $115,000 Active 101 DOM
7. 2026-06-13
   days on market $115,000 Active 100 DOM
8. 2026-06-09
   days on market $115,000 Active 97 DOM
9. 2026-06-08
   days on market $115,000 Active 96 DOM
10. 2026-06-07
    days on market $115,000 Active 95 DOM
11. 2026-06-03
    days on market $115,000 Active 91 DOM
12. 2026-06-02
    days on market $115,000 Active 90 DOM
13. 2026-06-01
    days on market $115,000 Active 89 DOM
14. 2026-05-31
    days on market $115,000 Active 88 DOM
15. 2026-03-04
    listed $115,000 Active
16. 2026-02-28
    historical
17. 2025-08-29
    status Active
18. 2025-08-28
    historical
19. 2025-03-08
    status Active
20. 2025-02-28
    historical
21. 2024-11-23
    price $115,000
22. 2024-08-21
    status Active
23. 2024-07-29
    status Pending
24. 2024-03-03
    listed $135,000 Active
25. 2000-02-29
    soldstatus 293-char remark

    Show marketing remark (293 chars)

    HUD HOME SOLD IN AS-IS CONDITION. COOPERATING BROKERS MAY RECEIVE UP TO 5% COMMISSION. FOR INFORMATION ON LEAD-BASE PAINT, ELECTRONIC BIDDING AND EARNEST MONEY PROCEDURES SEE THE WEB ADDRESS'S AT THE BOTTOM OF THE PAGE OR ASK ANY REAL ESTATE AGENT. CASE NUMBER: 151-507393 INSURED STATUS: IN

26. 1999-12-24
    listed $50,000 293-char remark

    Show marketing remark (293 chars)

    HUD HOME SOLD IN AS-IS CONDITION. COOPERATING BROKERS MAY RECEIVE UP TO 5% COMMISSION. FOR INFORMATION ON LEAD-BASE PAINT, ELECTRONIC BIDDING AND EARNEST MONEY PROCEDURES SEE THE WEB ADDRESS'S AT THE BOTTOM OF THE PAGE OR ASK ANY REAL ESTATE AGENT. CASE NUMBER: 151-507393 INSURED STATUS: IN

ⓘ 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: $1,410 · $118/mo
• Projected year-2 tax: $1,410 · $118/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 ≥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 · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $10,638
• − Mortgage interest: −$6,442
• − Property taxes: −$1,410
• − Insurance: −$575
• − Repairs & maintenance: −$851
• − Management: −$851
• − Depreciation: −$3,345
• Taxable loss: −$2,837
• Est. tax savings @ 24.0%: +$681
• After-tax cash flow: $-138/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: Eastern Hancock County Community School Corporation
• NCES district ID: 1803120
• Math proficiency: 48% ▼ -15.00%
• Reading proficiency: 50% ▼ -7.00%
• Median HH income: $62,582
• Composite: 43.16/100
• National rank: #3071
• State rank: #49 of 301 in IN

Livability — Charlottesville

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

Census & demographics

• Census place: Charlottesville, IN
• Population (ZIP): 555

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 (97%)
• Race & ethnicity: White 97% Two or more races 2%
• Common ancestry: Iranian 10% Italian 3% Slovak 2%
• Foreign-born: 2%

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: ▲ 3.17%
• Current HPI: 231.5918
• 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

+130.0% since first listed

12 events — show timeline

• 2026-03-04 Listed $115,000 MIBOR as Distributed by MLS Grid
• 2026-02-28 Listing Removed — MIBOR as Distributed by MLS Grid
• 2025-08-29 Relisted — MIBOR as Distributed by MLS Grid
• 2025-08-28 Listing Removed — MIBOR as Distributed by MLS Grid
• 2025-03-08 Relisted — MIBOR as Distributed by MLS Grid
• 2025-02-28 Listing Removed — MIBOR as Distributed by MLS Grid
• 2024-11-23 Price Changed $115,000 MIBOR as Distributed by MLS Grid
• 2024-08-21 Relisted — MIBOR as Distributed by MLS Grid
• 2024-07-29 Pending — MIBOR as Distributed by MLS Grid
• 2024-03-03 Listed $135,000 MIBOR as Distributed by MLS Grid
• 2000-02-29 Sold (MLS) — MIBOR as Distributed by MLS Grid
• 1999-12-24 Listed $50,000 MIBOR as Distributed by MLS Grid

Property tax history

+19.1%/yr

Latest (2025): $1,410 · -0.2% YoY. Source: county tax records.