402 N High St · Hartford City, IN 47348

$105,900

4 bd · 2.0 ba · 2,775 sqft · SingleFamily public records · 32 Days on market

Built 1960 7,405 sqft lot Est $130k · 19% under

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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 +28.7/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +8.0/10.0
• Schools +3.3/10.0
• Livability +3.3/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Now is your chance to own a unique home with a historic feel! As you enter, you're greeted with a beautiful entry foyer with hardwood floors. The home has beautiful woodwork throughout. Spacious living room/dining room has beautiful hardwood floors, crown molding, and window seat. Galley kitchen opens to den/breakfast room. New flooring in kitchen, laundry room, & downstairs bathroom. Lots of fresh paint! 4 spacious BR's & full bath upstairs. Fenced backyard w/storage shed.

Key facts

• Galley kitchen
• Detailed woodwork
• Storage shed

Tags

• ORIGINAL HARDWOOD FLOORS
• DETAILED WOODWORK
• GALLEY KITCHEN
• FENCED BACKYARD
• NEW DECK
• STORAGE SHED

Property features AI

Exterior

• Parking: Off-street parking
• Utilities: Public water; Public sewer
• Home design: Single-family residence (site-built); 2 stories
• Construction: Vinyl siding; Brick/mortar foundation; Asphalt roof; Built as a site-built home
• Exterior features: Privacy fence; Shed on the property; Corner, level lot (60 x 120)

Interior

• Bedrooms: Total of 10 rooms (bedroom count not specified)
• Flooring: Hardwood
• Bathrooms: 2 full bathrooms; 1 bathroom on the main level
• Heating & cooling: Forced air heating; Window cooling units
• Interior features: Hardwood flooring; Two fireplaces (living room); Unfinished basement
• Laundry & utility: Laundry on the main level

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $106k.

Deal economics

• At list price, monthly cash flow is $352 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $106k).
• Recommended offer: $103k (3.0% below list) — sets the bar for market timing.
• Cap rate 10.3% vs local median 5.1% in Hartford City — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 66/100 on livability (#303 in IN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: health & safety D, amenities F, commute F.
• Blackford County Schools (town): math 37% / reading 41% proficiency, ranked #164 of 301 in IN (top 54%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Blackford Primary School (352 students, 65% FRL); Blackford Jr-Sr High School (math 25% / reading 43%, grade F, #285 of 369 statewide, top 78%, 717 students, 50% FRL).
• Market conditions: 55 active listings in the ZIP; 9 units permitted in Blackford County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $732 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Blackford County population projected at -27% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $30k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 32 days — a 3% lower offer ($103k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 11y ago; this cycle's ask has dropped $9k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $81k; 31% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Recommended offer $102,723 (3.0% below list)

Questions for the listing agent

1. It's been on market 32 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: 1.30% ✓
• Cap rate: 10.28%
• Cash-on-cash: 14.23%
• DSCR: 1.63
• GRM: 6.4

CMA / ARV

• ARV (on-the-fly): $130,425
• Comps found: 6

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
215 S High St	0.29mi	3/1.5 (-1)	2,667 (-4%)	5mo	$35,000	$13	69
302 S Walnut St	0.34mi	3/2.0 (-1)	2,976 (+7%)	3mo	$100,000	$34	65
511/513 N Cherry St	0.18mi	3/2.0 (-1)	2,472 (-11%)	10mo	$115,000	$47	60
218 W North St	0.24mi	4/2.5	2,364 (-15%)	5mo	$225,000	$95	58
409 E Washington St	0.29mi	3/1.0 (-1)	2,472 (-11%)	13mo	$126,000	$51	48
217 W Sherman St	0.67mi	3/2.0 (-1)	2,376 (-14%)	4mo	$60,000	$25	36

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

Projected returns pro-forma

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

5-year hold

• IRR: 4.6%
• Equity multiple: 1.18×
• Total profit: $5,263
• Equity at exit: $15,790

10-year hold

• IRR: 14.1%
• Equity multiple: 2.13×
• Total profit: $33,513
• Equity at exit: $9,156

Cash invested: $29,652 (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 47348

• Home prices YoY: -17.5%
• Active inventory: 55
• Price-to-rent: 6.4×

Monthly cashflow live

• Estimated rent: $1,372 medium
• Mortgage (P&I): −$555
• Tax est. 1.5%: −$132 /mo · $1,588/yr
• Insurance: −$44
• HOA: −$0
• Vacancy / Maint / Mgmt: −$288
• Net cashflow: $352

Break-even live

Break-even rent $926

Max offer price $105,900

Occupancy floor 69%

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: $26,475
• Closing costs: $3,177
• Reserves months: —
• Total cash needed: —

Listing history 26 events

1. 2026-06-19
   days on market $105,900 Active 32 DOM
2. 2026-06-18
   days on market $105,900 Active 31 DOM
3. 2026-06-17
   days on market $105,900 Active 30 DOM
4. 2026-06-17
   price $105,900 Active 29 DOM
5. 2026-06-16
   days on market $110,900 Active 29 DOM
6. 2026-06-15
   days on market $110,900 Active 28 DOM
7. 2026-06-14
   days on market $110,900 Active 26 DOM
8. 2026-06-12
   days on market $110,900 Active 25 DOM
9. 2026-06-09
   days on market $110,900 Active 22 DOM
10. 2026-06-09
    price $110,900 Active 21 DOM
11. 2026-06-08
    days on market $114,900 Active 21 DOM
12. 2026-06-07
    days on market $114,900 Active 20 DOM
13. 2026-06-05
    days on market $114,900 Active 17 DOM
14. 2026-06-03
    days on market $114,900 Active 16 DOM
15. 2026-06-02
    days on market $114,900 Active 15 DOM
16. 2026-06-01
    days on market $114,900 Active 14 DOM
17. 2026-05-31
    days on market $114,900 Active 13 DOM
18. 2026-05-30
    days on market $114,900 Active 12 DOM
19. 2026-05-15
    listed $114,900 Active
20. 2017-06-01
    soldstatus $81,000 486-char remark

    Show marketing remark (486 chars)

    Now is your chance to own a unique home with a historic feel! As you enter, you're greeted with a beautiful entry foyer with hardwood floors. The home has beautiful woodwork throughout. Spacious living room/dining room has beautiful hardwood floors, crown molding, and window seat. Galley kitchen opens to den/breakfast room. New flooring in kitchen, laundry room, & downstairs bathroom. Lots of fresh paint! 4 spacious BR's & full bath upstairs. Fenced backyard w/storage shed.

21. 2017-06-01
    soldstatus $81,000

    Show marketing remark (486 chars)

    Now is your chance to own a unique home with a historic feel! As you enter, you're greeted with a beautiful entry foyer with hardwood floors. The home has beautiful woodwork throughout. Spacious living room/dining room has beautiful hardwood floors, crown molding, and window seat. Galley kitchen opens to den/breakfast room. New flooring in kitchen, laundry room, & downstairs bathroom. Lots of fresh paint! 4 spacious BR's & full bath upstairs. Fenced backyard w/storage shed.

22. 2017-03-31
    listed $76,900 486-char remark

    Show marketing remark (486 chars)

    Now is your chance to own a unique home with a historic feel! As you enter, you're greeted with a beautiful entry foyer with hardwood floors. The home has beautiful woodwork throughout. Spacious living room/dining room has beautiful hardwood floors, crown molding, and window seat. Galley kitchen opens to den/breakfast room. New flooring in kitchen, laundry room, & downstairs bathroom. Lots of fresh paint! 4 spacious BR's & full bath upstairs. Fenced backyard w/storage shed.

23. 2017-03-28
    listed $76,900
24. 2017-01-01
    historical
25. 2015-09-25
    listed $74,000
26. 2015-09-25
    listed $74,000

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

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 ≥99°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 · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $16,460
• − Mortgage interest: −$5,932
• − Property taxes: −$1,588
• − Insurance: −$530
• − Repairs & maintenance: −$1,317
• − Management: −$1,317
• − Depreciation: −$3,081
• Taxable income: $2,695
• Est. tax owed @ 24.0%: −$647
• After-tax cash flow: $3,574/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: Blackford County Schools
• NCES district ID: 1800570
• Math proficiency: 37% ▼ -12.00%
• Reading proficiency: 41% ▼ -5.00%
• Median HH income: $39,653
• Composite: 32.67/100
• National rank: #5656
• State rank: #164 of 301 in IN

Livability — Hartford City

• Score: 66/100
• State rank: #303
• US rank: #12079

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Hartford City, IN
• Population (ZIP): 8,986

Population outlook (Blackford County) Hauer SSP2

• Today (2025): 11,183 people
• By 2030: 10,542 · -5.7%
• By 2040: 9,292 · -16.9%
• By 2050: 8,176 · -26.9%
• By 2075: 6,549 · -41.4%
• By 2100: 5,636 · -49.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (96%)
• Race & ethnicity: White 96% Two or more races 3% Hispanic / Latino 2%
• Common ancestry: Slovak 3% Lithuanian 3% Scotch-Irish 1%
• Foreign-born: 1% · Canada
• Languages at home: 98% English-only · Spanish 1%

Political lean MEDSL · Blackford

• 2024 margin: Solid R (+50.3) · D 23.9% · R 74.2% · Other 1.9%
• 2008→2024 swing: -50.1pp toward R · 2008: -0.2pp · 2024: -50.3pp
• All cycles: 2024: R+50.3 2020: R+46.1 2016: R+43.7 2012: R+16.5 2008: R+0.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -47.19%
• Current HPI: 223.0485
• 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

+55.3% since first listed

8 events — show timeline

• 2026-05-15 Listed $114,900 IRMLS
• 2017-06-01 Sold (MLS) $81,000 IRMLS
• 2017-06-01 Sold (MLS) $81,000 MIBOR as Distributed by MLS Grid
• 2017-03-31 Listed $76,900 MIBOR as Distributed by MLS Grid
• 2017-03-28 Listed $76,900 IRMLS
• 2017-01-01 Listing Removed — MIBOR as Distributed by MLS Grid
• 2015-09-25 Listed $74,000 MIBOR as Distributed by MLS Grid
• 2015-09-25 Listed $74,000 IRMLS

Property tax history

-13.1%/yr

Latest (2025): $108 · +1.6% YoY. Source: county tax records.