279 W Spring St · Bloomfield, IN 47424

$48,000

2 bd · 1.0 ba · 1,026 sqft · SingleFamily public records · 43 Days on market

Built 1960 5,025 sqft lot $47/sqft · 66% below area ↓ 33% since listing

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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
• ARV discount +7.5/15.0
• Livability +3.7/5.0
• Appreciation +3.6/10.0
• Schools +3.2/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Older stately home with updates to include kitchen. Convenient location.

Key facts

• 5,025 sq ft lot
• Built 1960
• Listed 43 days

Property features AI

Finance

• Other: Lot roughly 67 x 75 (about 0.12 acres)
• Financial info: Property tax information not included per instructions
• HOA & community: HOA information not provided

Exterior

• Parking: Parking information not provided
• Security: Security information not provided
• Utilities: Public water; Public sewer
• Home design: Single-family residence; Site-built home; Single-story
• Construction: Vinyl siding; Slab foundation; Built details not provided
• Exterior features: Enclosed porch

Interior

• Kitchen: Kitchen details not provided
• Bedrooms: Bedrooms information not provided
• Flooring: Flooring information not provided
• Bathrooms: 1 full bathroom (on the main level)
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: Basement present; Total of 5 rooms; Main-level laundry
• Laundry & utility: Laundry located on the main level

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $48k.

Deal economics

• At list price, monthly cash flow is $367 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($850 rent vs $48k).
• Recommended offer: $47k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 73/100 on livability (#96 in IN) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F.
• Bloomfield School District (town): math 33% / reading 41% proficiency, ranked #169 of 301 in IN (top 56%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Bloomfield Elementary School (math 30% / reading 34%, grade F, #652 of 994 statewide, top 68%, 457 students, 51% FRL); Bloomfield Middle School (168 students, 51% FRL); Bloomfield High School (math 37% / reading 52%, grade F, #169 of 369 statewide, top 51%, 233 students, 40% FRL) — zoned schools average 47% FRL vs 32% district-wide (15 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 53 active listings in the ZIP; 1 comparable units currently listed for rent nearby.

Forward outlook

• Local home prices are declining (-2.8%/yr); year-one equity from $332 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• Greene County population projected at -22% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-2.8% appreciation + 3.0% rent growth), your $13k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 43 days — a 3% lower offer ($47k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 8y 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 $46,560 (3.0% below list)

Questions for the listing agent

1. It's been on market 43 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
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. 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: 1.77% ✓
• Cap rate: 15.46%
• Cash-on-cash: 32.75%
• DSCR: 2.46
• GRM: 4.7

CMA / ARV

• ARV (median comp): $139,497
• List price: $48,000
• Delta: -65.59%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 9 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
101 N Harrison St	0.25mi	2/1.0	1,026 (0%)	12mo	$125,000	$122	79
148 N Seminary St	0.22mi	2/1.0	974 (-5%)	7mo	$23,000	$24	76
119 N Seminary St	0.21mi	2/1.0	988 (-4%)	22mo	$149,900	$152	66
240 N Cleveland St	0.32mi	2/1.0	884 (-14%)	3mo	$141,500	$160	59
612 S Lewis St	0.35mi	3/1.0 (+1)	1,100 (+7%)	9mo	$105,000	$95	59
635 W Turner St	0.31mi	2/1.0	1,092 (+6%)	20mo	$155,000	$142	58
551 N Washington St	0.67mi	2/2.0	981 (-4%)	2mo	$150,000	$153	56
1012 S Lewis St	0.53mi	2/1.0	936 (-9%)	12mo	$130,000	$139	51
1208 S First St	0.74mi	1/1.0 (-1)	950 (-7%)	1mo	$35,000	$37	47

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

Projected returns pro-forma

-2.84% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 28.2%
• Equity multiple: 2.18×
• Total profit: $15,901
• Equity at exit: $7,500

10-year hold

• IRR: 35.4%
• Equity multiple: 4.29×
• Total profit: $44,186
• Equity at exit: $4,742

Cash invested: $13,440 (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 47424

• Home prices YoY: -1.3%
• Active inventory: 53
• Price-to-rent: 4.7×

Monthly cashflow live

• Estimated rent: $850 medium
• Mortgage (P&I): −$252
• Tax from tax record: −$33 /mo · $396/yr
• Insurance: −$20
• HOA: −$0
• Vacancy / Maint / Mgmt: −$178
• Net cashflow: $367

Break-even live

Break-even rent $386

Max offer price $48,000

Occupancy floor 52%

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: $12,000
• Closing costs: $1,440
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
207 Lincoln Dr Bloomfield, IN	1.0	1.5	800	$850	$1.06	20d	1	0.30mi

Listing history 18 events

1. 2026-06-18
   days on market $48,000 Active 43 DOM
2. 2026-06-17
   days on market $48,000 Active 42 DOM
3. 2026-06-16
   days on market $48,000 Active 41 DOM
4. 2026-06-15
   days on market $48,000 Active 40 DOM
5. 2026-06-13
   days on market $48,000 Active 38 DOM
6. 2026-06-12
   days on market $48,000 Active 37 DOM
7. 2026-06-09
   days on market $48,000 Active 34 DOM
8. 2026-06-08
   days on market $48,000 Active 33 DOM
9. 2026-06-07
   days on market $48,000 Active 32 DOM
10. 2026-06-07
    days on market $48,000 Active 31 DOM
11. 2026-06-04
    days on market $48,000 Active 28 DOM
12. 2026-06-02
    days on market $48,000 Active 27 DOM
13. 2026-06-01
    days on market $48,000 Active 26 DOM
14. 2026-05-31
    days on market $48,000 Active 25 DOM
15. 2026-05-31
    days on market $48,000 Active 24 DOM
16. 2026-05-06
    listed $48,000 Active 415-char remark
17. 2020-04-17
    soldstatus $74,425 72-char remark

    Show marketing remark (72 chars)

    Older stately home with updates to include kitchen. Convenient location.

18. 2018-08-27
    listed $71,900 72-char remark

    Show marketing remark (72 chars)

    Older stately home with updates to include kitchen. Convenient location.

ⓘ 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: $396 · $33/mo
• Projected year-2 tax: $402 · $34/mo
• Expected delta: +$6/yr ($0/mo · 1.5%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 4/10 Moderate 7 d/yr ≥106°F today · 18 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 0% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $10,200
• − Mortgage interest: −$2,689
• − Property taxes: −$396
• − Insurance: −$240
• − Repairs & maintenance: −$816
• − Management: −$816
• − Depreciation: −$1,396
• Taxable income: $3,847
• Est. tax owed @ 24.0%: −$923
• After-tax cash flow: $3,478/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: Bloomfield School District
• NCES district ID: 1800600
• Math proficiency: 33% ▼ -11.00%
• Reading proficiency: 41% ▼ -4.00%
• Median HH income: $50,351
• Composite: 32.01/100
• National rank: #5828
• State rank: #169 of 301 in IN

Livability — Bloomfield

• Score: 73/100
• State rank: #96
• US rank: #5394

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Bloomfield, IN
• Population (ZIP): 8,620

Population outlook (Greene County) Hauer SSP2

• Today (2025): 30,724 people
• By 2030: 29,506 · -4.0%
• By 2040: 26,744 · -13.0%
• By 2050: 23,879 · -22.3%
• By 2075: 18,341 · -40.3%
• By 2100: 13,976 · -54.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (96%)
• Race & ethnicity: White 96% Two or more races 2%
• Common ancestry: Italian 2% Iranian 2% Slovak 2%
• Foreign-born: 0%

Political lean MEDSL · Greene

• 2024 margin: Solid R (+53.7) · D 22.4% · R 76.1% · Other 1.6%
• 2008→2024 swing: -39.2pp toward R · 2008: -14.5pp · 2024: -53.7pp
• All cycles: 2024: R+53.7 2020: R+52.2 2016: R+53.4 2012: R+31.4 2008: R+14.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -2.84%
• Current HPI: 208.554
• 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

-33.2% since first listed

3 events — show timeline

• 2026-05-06 Listed $48,000 IRMLS
• 2020-04-17 Sold (MLS) $74,425 IRMLS
• 2018-08-27 Listed $71,900 IRMLS

Property tax history

+41.9%/yr

Latest (2025): $396 · -3.4% YoY. Source: county tax records.