2869 N Colby Dr · Bloomingdale, IN 47859

$159,000

3 bd · 1.0 ba · 1,304 sqft · SingleFamily public records · 210 Days on market

Built 2004 0.73 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 +15.6/30.0
• ARV discount +7.5/15.0
• Appreciation +5.0/10.0
• DSCR +4.8/10.0
• 1% rule +2.9/10.0
• Schools +2.9/10.0
• Livability +2.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Escape the hustle and retreat to your very own log cabin. This 2 bdr, 2 bath cabin could be your weekend getaway or full time home. Living/dining room combo with gas log fireplace. Kitchen w/stainless steel appliances. Full covered front porch, a perfect place for your rocking chairs so that you can watch the sunset over the pond. Rear deck has room for your grill! Mature trees shade the home. **Home had a pipe burst in January. Repairs have not been made to the home. Approximate repair cost is $6250. A copy of needed repairs and estimate is available.** Repairs need to be made in the kitchen, bathroom and bedroom. Sellers wish to sell the house in "as is" condition. ***

Key facts

• 0.73-acre lot
• Outdoor area
• Rich wood accents

Tags

• PRIVATE DRIVE
• 0.73-ACRE LOT
• MAJOR IMPROVEMENTS COMPLETED
• RICH WOOD ACCENTS
• OUTDOOR AREA

Property features AI

Finance

• Other: Approximately 0.73-acre lot (about 1/2–1 acre)

Exterior

• Parking: Gravel parking
• Utilities: Septic system; Private/other water source
• Home design: Single-family residence; One-and-a-half story
• Construction: Wood siding; Crawl space foundation
• Exterior features: Covered deck; Mature trees on the lot

Interior

• Kitchen: Gas oven; Refrigerator; Breakfast bar
• Bedrooms: Two bedrooms total — one on the main level and one on the upper level; Upper-level loft (14x11)
• Bathrooms: Two full bathrooms — one on the main level and one on the upper level
• Heating & cooling: Forced air heating (propane); Central air conditioning
• Interior features: Vaulted ceilings; Breakfast bar; Fireplace with insert
• Laundry & utility: Washer and dryer included; Water softener (owned); Electric water heater; Upper-level laundry

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $159k.

Deal economics

• At list price, monthly cash flow is $66 ($795/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 $126k (20.9% below list).
• Recommended offer: $126k (20.9% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 58/100 on livability (#590 in IN) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A-; Watch: crime D, employment D, amenities F.
• North Central Parke Comm School Corporation (town): math 30% / reading 39% proficiency, ranked #198 of 301 in IN (top 66%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Turkey Run Elementary School (math 57% / reading 47%, grade C-, #237 of 994 statewide, top 26%, 249 students, 61% FRL); Parke Heritage Middle School (math 16% / reading 33%, grade F, #251 of 330 statewide, top 77%, 263 students, 61% FRL); Parke Heritage High School (math 12% / reading 57%, grade F, #270 of 369 statewide, top 77%, 341 students, 57% FRL).
• Market conditions: 4 active listings in the ZIP; 61 units permitted in Parke County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $6k of equity ($1k loan paydown + $5k appreciation (3.0% local appreciation)).
• Parke County population projected at -10% 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 $45k cash investment doubles in ~6 years — after that, you're playing with house money.
• By year 6, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 210 days — a 12% lower offer ($140k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 16y ago; this cycle's ask has dropped $11k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $80k; list at $159k implies a 99% gain — meaningful room to come down on a strong offer.

Recommended offer $125,836 (20.9% below list)

Questions for the listing agent

1. It's been on market 210 days. Have you received any prior offers? Is the seller open to a 21% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
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: 0.79% ✗
• Cap rate: 6.79%
• Cash-on-cash: 1.79%
• DSCR: 1.08
• GRM: 10.5

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 9.1%
• Equity multiple: 1.52×
• Total profit: $23,288
• Equity at exit: $71,493

10-year hold

• IRR: 11.6%
• Equity multiple: 2.73×
• Total profit: $76,895
• Equity at exit: $110,180

Cash invested: $44,520 (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 47859

• Active inventory: 4
• Price-to-rent: 10.5×

Monthly cashflow live

• Estimated rent: $1,258 medium
• Mortgage (P&I): −$834
• Tax from tax record: −$28 /mo · $333/yr
• Insurance: −$66
• HOA: −$0
• Vacancy / Maint / Mgmt: −$264
• Net cashflow: $66

Break-even live

Break-even rent $1,174

Max offer price $159,000

Occupancy floor 90%

Sensitivity live

Price	-10% $156	-5% $111	+0% $66	+5% $-160	+10% $-215
Rent	-10% $-33	-5% $17	+0% $66	+5% $116	+10% $166
Rate	-1.0pp $146	-0.5pp $107	base $66	+0.5pp $25	+1.0pp $-17

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: $39,750
• Closing costs: $4,770
• Reserves months: —
• Total cash needed: —

Listing history 29 events

1. 2026-06-22
   days on market $159,000 Active 210 DOM
2. 2026-06-19
   days on market $159,000 Active 207 DOM
3. 2026-06-18
   days on market $159,000 Active 206 DOM
4. 2026-06-17
   days on market $159,000 Active 205 DOM
5. 2026-06-16
   days on market $159,000 Active 204 DOM
6. 2026-06-15
   days on market $159,000 Active 203 DOM
7. 2026-06-14
   days on market $159,000 Active 201 DOM
8. 2026-06-12
   days on market $159,000 Active 200 DOM
9. 2026-06-09
   days on market $159,000 Active 197 DOM
10. 2026-06-08
    days on market $159,000 Active 196 DOM
11. 2026-06-07
    days on market $159,000 Active 195 DOM
12. 2026-06-05
    days on market $159,000 Active 192 DOM
13. 2026-06-03
    days on market $159,000 Active 191 DOM
14. 2026-06-02
    days on market $159,000 Active 190 DOM
15. 2026-06-01
    days on market $159,000 Active 189 DOM
16. 2026-05-31
    days on market $159,000 Active 188 DOM
17. 2026-05-30
    days on market $159,000 Active 187 DOM
18. 2026-04-20
    price $159,000
19. 2026-03-03
    price $163,900
20. 2025-11-23
    listed $169,900 Active
21. 2022-05-23
    soldstatus $80,000
22. 2022-05-19
    soldstatus $80,000 696-char remark

    Show marketing remark (696 chars)

    Escape the hustle and retreat to your very own log cabin. This 2 bdr, 2 bath cabin could be your weekend getaway or full time home. Living/dining room combo with gas log fireplace. Kitchen w/stainless steel appliances. Full covered front porch, a perfect place for your rocking chairs so that you can watch the sunset over the pond. Rear deck has room for your grill! Mature trees shade the home. **Home had a pipe burst in January. Repairs have not been made to the home. Approximate repair cost is $6250. A copy of needed repairs and estimate is available.** Repairs need to be made in the kitchen, bathroom and bedroom. Sellers wish to sell the house in "as is" condition. ***

23. 2021-10-28
    listed $85,000 696-char remark

    Show marketing remark (696 chars)

    Escape the hustle and retreat to your very own log cabin. This 2 bdr, 2 bath cabin could be your weekend getaway or full time home. Living/dining room combo with gas log fireplace. Kitchen w/stainless steel appliances. Full covered front porch, a perfect place for your rocking chairs so that you can watch the sunset over the pond. Rear deck has room for your grill! Mature trees shade the home. **Home had a pipe burst in January. Repairs have not been made to the home. Approximate repair cost is $6250. A copy of needed repairs and estimate is available.** Repairs need to be made in the kitchen, bathroom and bedroom. Sellers wish to sell the house in "as is" condition. ***

24. 2016-12-05
    soldstatus $76,850 489-char remark

    Show marketing remark (489 chars)

    Escape the hustle and retreat to your very own log cabin overlooking a pond. This 2 bdr, 2 bath cabin could be your weekend getaway or full time home. Built in 2004 and offering 1138 SF. L shaped living/dining room combo with gas log fireplace. Kitchen w/stainless steel appliances. Full covered front porch, a perfect place for your rocking chairs so that you can watch the sunset over the pond. Rear deck has room for your grill! Mature trees shade the home. Picturesque setting!

25. 2016-07-22
    listed $77,000 489-char remark

    Show marketing remark (489 chars)

    Escape the hustle and retreat to your very own log cabin overlooking a pond. This 2 bdr, 2 bath cabin could be your weekend getaway or full time home. Built in 2004 and offering 1138 SF. L shaped living/dining room combo with gas log fireplace. Kitchen w/stainless steel appliances. Full covered front porch, a perfect place for your rocking chairs so that you can watch the sunset over the pond. Rear deck has room for your grill! Mature trees shade the home. Picturesque setting!

26. 2015-08-08
    historical
27. 2014-09-17
    listed $78,000
28. 2011-02-18
    historical
29. 2010-08-16
    listed $99,900

ⓘ 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: $333 · $28/mo
• Projected year-2 tax: $842 · $70/mo
• Expected delta: +$509/yr (+$42/mo · 152.6%)

ⓘ 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 ≥105°F today · 18 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 2% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,100
• − Mortgage interest: −$8,906
• − Property taxes: −$333
• − Insurance: −$795
• − Repairs & maintenance: −$1,208
• − Management: −$1,208
• − Depreciation: −$4,625
• Taxable loss: −$1,976
• Est. tax savings @ 24.0%: +$474
• After-tax cash flow: $1,269/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: North Central Parke Comm School Corporation
• NCES district ID: 1800118
• Math proficiency: 30% ▼ -8.00%
• Reading proficiency: 39% ▼ -4.00%
• Median HH income: $43,739
• Composite: 29.31/100
• National rank: #6553
• State rank: #198 of 301 in IN

Livability — Bloomingdale

• Score: 58/100
• State rank: #590
• US rank: #21154

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 1,078

Population outlook (Parke County) Hauer SSP2

• Today (2025): 15,937 people
• By 2030: 15,467 · -2.9%
• By 2040: 14,793 · -7.2%
• By 2050: 14,318 · -10.2%
• By 2075: 13,484 · -15.4%
• By 2100: 12,236 · -23.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (94%)
• Race & ethnicity: White 94% Black 6%
• Common ancestry: Polish 4% Slovak 1%
• Foreign-born: 0%
• Languages at home: 66% English-only · German/W. Germanic 34%

Political lean MEDSL · Parke

• 2024 margin: Solid R (+56.9) · D 20.6% · R 77.5% · Other 1.9%
• 2008→2024 swing: -42.8pp toward R · 2008: -14.1pp · 2024: -56.9pp
• All cycles: 2024: R+56.9 2020: R+55.5 2016: R+52.0 2012: R+32.6 2008: R+14.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: —
• Current HPI: —
• 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

+59.2% since first listed

12 events — show timeline

• 2026-04-20 Price Changed $159,000 MIBOR as Distributed by MLS Grid
• 2026-03-03 Price Changed $163,900 MIBOR as Distributed by MLS Grid
• 2025-11-23 Listed $169,900 MIBOR as Distributed by MLS Grid
• 2022-05-23 Sold (Public Records) $80,000 Public Records
• 2022-05-19 Sold (MLS) $80,000 MIBOR as Distributed by MLS Grid
• 2021-10-28 Listed $85,000 MIBOR as Distributed by MLS Grid
• 2016-12-05 Sold (MLS) $76,850 MIBOR as Distributed by MLS Grid
• 2016-07-22 Listed $77,000 MIBOR as Distributed by MLS Grid
• 2015-08-08 Listing Removed — MIBOR as Distributed by MLS Grid
• 2014-09-17 Listed $78,000 MIBOR as Distributed by MLS Grid
• 2011-02-18 Listing Removed — MIBOR as Distributed by MLS Grid
• 2010-08-16 Listed $99,900 MIBOR as Distributed by MLS Grid

Property tax history

+7.4%/yr

Latest (2024): $333 · +19.9% YoY. Source: county tax records.