9461 W CR 100 Rd N · Hatfield, IN 47634

$183,000

3 bd · 1.0 ba · 1,660 sqft · SingleFamily public records · 25 Days on market

Built 1956 0.57 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 +15.8/30.0
• ARV discount +7.5/15.0
• Appreciation +6.2/10.0
• DSCR +4.9/10.0
• Schools +4.2/10.0
• Livability +3.2/5.0
• 1% rule +3.0/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Move in ready three bedroom one bath brick home. There is over 500 square feet of semi-finished area is just waiting to be converted to living space or a mancave. Per the sellers some windows, the roof, and water heater were replaced within the past 6 years. Flooring was updated within the past 4 years. The fireplace chimney was removed when the roof was replaced. HVAC was replaced in October 2019. Trunk line was designed to allow ductwork to be added to the unfinished area in the future. There is also a disconnected gas line that was previously connected to a wall gas heater. The seller is selling the detached block building "as is" and will not address any needed repairs to it. The home is conveniently located to IN-66 south. For added convenience it's within walking distance to the Dollar General Store. The seller is providing an American Home Shield warranty.

Key facts

• Spacious backyard
• Utility shed
• Remodeled bathroom

Tags

• SPACIOUS BACKYARD
• UTILITY SHED
• LARGE LIVING ROOM
• NATURAL LIGHT
• REMODELED BATHROOM

Property features AI

Exterior

• Parking: Attached garage with 1 garage space; Off-street gravel parking
• Utilities: Public water; Public sewer
• Home design: Single-family site-built home; One story
• Construction: Brick and vinyl siding exterior
• Exterior features: Covered porch; Chain link fencing; Level lot

Interior

• Kitchen: Refrigerator; Electric range
• Bedrooms: 5 total rooms (configuration not specified)
• Bathrooms: 1 full bathroom (main level)
• Heating & cooling: Central air conditioning; Natural gas forced-air heating
• Interior features: Fireplace in the recreation room; Crawl space basement
• Laundry & utility: Laundry on main level

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $183k.

Deal economics

• At list price, monthly cash flow is $83 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $147k (19.7% below list).
• Recommended offer: $147k (19.7% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 63/100 on livability (#438 in IN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, employment A; Watch: crime C-, amenities F, commute F.
• South Spencer County School Corporation (rural): math 46% / reading 54% proficiency, ranked #58 of 301 in IN (top 19%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Luce Elementary School (math 57% / reading 47%, grade C-, #237 of 994 statewide, top 26%, 189 students, 38% FRL); South Spencer Middle School (math 39% / reading 52%, grade D+, #79 of 330 statewide, top 24%, 228 students, 56% FRL); South Spencer High School (math 47% / reading 67%, grade C, #64 of 369 statewide, top 18%, 357 students, 44% FRL).
• Market conditions: 42 active listings in the ZIP; 78 units permitted in Spencer County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $5k of equity ($1k loan paydown + $4k appreciation (2.3% local appreciation)).
• Spencer County population projected at -16% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (2.3% appreciation + 3.0% rent growth), your $51k cash investment doubles in ~7 years — after that, you're playing with house money.
• By year 7, paydown + projected appreciation supports a ~$35k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 25 days — a 2% lower offer ($180k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 5y 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 $117k; list at $183k implies a 56% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1956 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $146,954 (19.7% below list)

Questions for the listing agent

1. Built in 1956 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
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: 0.80% ✗
• Cap rate: 6.84%
• Cash-on-cash: 1.95%
• DSCR: 1.09
• GRM: 10.4

CMA / ARV

No comps found within radius.

Projected returns pro-forma

2.31% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 7.3%
• Equity multiple: 1.40×
• Total profit: $20,676
• Equity at exit: $75,271

10-year hold

• IRR: 10.4%
• Equity multiple: 2.45×
• Total profit: $74,491
• Equity at exit: $110,819

Cash invested: $51,240 (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 47634

• Home prices YoY: 1.1%
• Active inventory: 42
• Price-to-rent: 10.4×

Monthly cashflow live

• Estimated rent: $1,470 medium
• Mortgage (P&I): −$960
• Tax from tax record: −$42 /mo · $499/yr
• Insurance: −$76
• HOA: −$0
• Vacancy / Maint / Mgmt: −$309
• Net cashflow: $83

Break-even live

Break-even rent $1,364

Max offer price $183,000

Occupancy floor 89%

Sensitivity live

Price	-10% $187	-5% $135	+0% $83	+5% $32	+10% $-20
Rent	-10% $-33	-5% $25	+0% $83	+5% $142	+10% $200
Rate	-1.0pp $176	-0.5pp $130	base $83	+0.5pp $36	+1.0pp $-12

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: $45,750
• Closing costs: $5,490
• Reserves months: —
• Total cash needed: —

Listing history 21 events

1. 2026-06-22
   days on market $183,000 Active 25 DOM
2. 2026-06-18
   days on market $183,000 Active 22 DOM
3. 2026-06-17
   days on market $183,000 Active 21 DOM
4. 2026-06-16
   days on market $183,000 Active 20 DOM
5. 2026-06-15
   days on market $183,000 Active 19 DOM
6. 2026-06-14
   days on market $183,000 Active 17 DOM
7. 2026-06-13
   days on market $183,000 Active 16 DOM
8. 2026-06-10
   days on market $183,000 Active 14 DOM
9. 2026-06-09
   days on market $183,000 Active 13 DOM
10. 2026-06-08
    days on market $183,000 Active 12 DOM
11. 2026-06-07
    days on market $183,000 Active 11 DOM
12. 2026-06-05
    days on market $183,000 Active 8 DOM
13. 2026-06-03
    days on market $183,000 Active 7 DOM
14. 2026-06-02
    days on market $183,000 Active 6 DOM
15. 2026-06-01
    days on market $183,000 Active 5 DOM
16. 2026-05-31
    days on market $183,000 Active 4 DOM
17. 2026-05-30
    days on market $183,000 Active 3 DOM
18. 2026-05-27
    listed $183,000 Active
19. 2021-05-07
    soldstatus $117,000 886-char remark

    Show marketing remark (886 chars)

    Move in ready three bedroom one bath brick home. There is over 500 square feet of semi-finished area is just waiting to be converted to living space or a mancave. Per the sellers some windows, the roof, and water heater were replaced within the past 6 years. Flooring was updated within the past 4 years. The fireplace chimney was removed when the roof was replaced. HVAC was replaced in October 2019. Trunk line was designed to allow ductwork to be added to the unfinished area in the future. There is also a disconnected gas line that was previously connected to a wall gas heater. The seller is selling the detached block building "as is" and will not address any needed repairs to it. The home is conveniently located to IN-66 south. For added convenience it's within walking distance to the Dollar General Store. The seller is providing an American Home Shield warranty.

20. 2021-01-22
    listed $117,000 886-char remark

    Show marketing remark (886 chars)

    Move in ready three bedroom one bath brick home. There is over 500 square feet of semi-finished area is just waiting to be converted to living space or a mancave. Per the sellers some windows, the roof, and water heater were replaced within the past 6 years. Flooring was updated within the past 4 years. The fireplace chimney was removed when the roof was replaced. HVAC was replaced in October 2019. Trunk line was designed to allow ductwork to be added to the unfinished area in the future. There is also a disconnected gas line that was previously connected to a wall gas heater. The seller is selling the detached block building "as is" and will not address any needed repairs to it. The home is conveniently located to IN-66 south. For added convenience it's within walking distance to the Dollar General Store. The seller is providing an American Home Shield warranty.

21. 2014-07-07
    soldstatus $14,616

ⓘ 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: $499 · $42/mo
• Projected year-2 tax: $1,027 · $86/mo
• Expected delta: +$528/yr (+$44/mo · 106.0%)

ⓘ 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 5/10 Major 7 d/yr ≥107°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 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $17,634
• − Mortgage interest: −$10,251
• − Property taxes: −$499
• − Insurance: −$915
• − Repairs & maintenance: −$1,411
• − Management: −$1,411
• − Depreciation: −$5,324
• Taxable loss: −$2,175
• Est. tax savings @ 24.0%: +$522
• After-tax cash flow: $1,524/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: South Spencer County School Corporation
• NCES district ID: 1810560
• Math proficiency: 46% ▼ -6.00%
• Reading proficiency: 54% ▼ -2.00%
• Median HH income: $47,220
• Composite: 42.49/100
• National rank: #3208
• State rank: #58 of 301 in IN

Livability — Hatfield

• Score: 63/100
• State rank: #438
• US rank: #15721

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Hatfield, IN
• Population (ZIP): 2,101

Population outlook (Spencer County) Hauer SSP2

• Today (2025): 20,394 people
• By 2030: 19,912 · -2.4%
• By 2040: 18,592 · -8.8%
• By 2050: 17,051 · -16.4%
• By 2075: 14,010 · -31.3%
• By 2100: 10,869 · -46.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (94%)
• Race & ethnicity: White 94% Two or more races 6% Hispanic / Latino 3%
• Common ancestry: Lithuanian 4% Romanian 2% English 2%
• Foreign-born: 3% · Canada
• Languages at home: 97% English-only · French/Haitian/Cajun 1% Spanish 1%

Political lean MEDSL · Spencer

• 2024 margin: Solid R (+43.3) · D 27.4% · R 70.6% · Other 2.0%
• 2008→2024 swing: -43.6pp toward R · 2008: 0.4pp · 2024: -43.3pp
• All cycles: 2024: R+43.3 2020: R+38.5 2016: R+37.3 2012: R+15.3 2008: D+0.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 2.31%
• Current HPI: 210.8511
• 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

+1152.1% since first listed

4 events — show timeline

• 2026-05-27 Listed $183,000 IRMLS
• 2021-05-07 Sold (MLS) $117,000 IRMLS
• 2021-01-22 Listed $117,000 IRMLS
• 2014-07-07 Sold (Public Records) $14,616 Public Records

Property tax history

+7.0%/yr

Latest (2024): $499 · +23.3% YoY. Source: county tax records.