780 Lane 120 Hamilton Lk Lk · Hamilton, IN 46742

$149,900

3 bd · 1.0 ba · 936 sqft · SingleFamily · 167 Days on market

Built 1900 Good condition 4,356 sqft lot $160/sqft · 36% below area Est $235k · 36% 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 +26.3/30.0
• ARV discount +15.0/15.0
• DSCR +8.9/10.0
• 1% rule +7.0/10.0
• Condition / age +4.0/5.0
• Schools +3.3/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

FULLY FURNISHED Cottage on Hamilton Lake. The cottage has been well maintained over the years! New footer and new foundation blocks in 2012. In 2014 several improvements including a floor to ceiling addition was added. This area is now the dining room and an extra sitting area. A new metal roof and windows were also installed. The owners have installed a new 100 amp electrical service and the cottage was re-wired too. The cottage has great sunset views and super swimming beach of sand, sand, sand! The lease in 2018 was $4,000. Come and check it out!

Key facts

• Updated electrical
• Metal roof
• New foundation

Tags

• NEW FOUNDATION
• UPDATED ELECTRICAL
• METAL ROOF
• REPLACEMENT WINDOWS
• NEW FLOORING
• NEW CARPET

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $150k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $386 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $150k).
• Recommended offer: $132k (12.0% below list) — sets the bar for market timing.
• Cap rate 9.4% vs local median 2.4% in Hamilton — 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 64/100 on livability (#384 in IN) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F, health & safety F.
• Hamilton Community Schools (rural): math 20% / reading 25% proficiency, ranked #300 of 324 in IN (top 93%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Hamilton Community Elementary Sch (math 47% / reading 37%, grade F, #434 of 994 statewide, top 48%, 166 students, 48% FRL); Hamilton Community High School (math 17% / reading 32%, grade F, #325 of 369 statewide, top 91%, 186 students, 42% FRL) — zoned schools average 45% FRL vs 30% district-wide (15 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 54 active listings in the ZIP; 1 comparable units currently listed for rent nearby; solid renter incomes; 209 units permitted in Steuben County in 2024 (72 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Steuben County population projected at -13% 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 $42k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 167 days — a 12% lower offer ($132k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 8y ago; this cycle's ask has dropped $15k (9%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $72k; list at $150k implies a 107% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $131,912 (12.0% below list)

Questions for the listing agent

1. It's been on market 167 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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.
7. 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.
8. 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: 1.20% ✓
• Cap rate: 9.38%
• Cash-on-cash: 11.04%
• DSCR: 1.49
• GRM: 6.9

CMA / ARV

• ARV (median comp): $234,974
• List price: $149,900
• Delta: -36.21%
• Verdict: UNDERPRICED
• Comps: 14 within 1.0 mi

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
440 Lane 120, Hamilton Lake Lk	0.00mi	3/1.0	824 (-12%)	5mo	$169,900	$206	76
40 Lane 120ed Hamilton Lk	0.18mi	3/1.0	790 (-16%)	15mo	$192,500	$244	54
635 Lane 101 Hamilton Lake Lk	0.60mi	2/1.0 (-1)	832 (-11%)	13mo	$450,000	$541	38
795 Lane 280 Hamilton Lk Lk	0.83mi	2/2.0 (-1)	1,034 (+10%)	2mo	$515,000	$498	37
980 Lane 221b Hamilton Lake Lk	0.97mi	3/1.0	1,083 (+16%)	4mo	$460,000	$425	37
140 221c Hamilton Lake Ln	0.98mi	2/1.5 (-1)	806 (-14%)	2mo	$160,000	$199	33
220 Lane 280a Hamilton Lake Lk	0.80mi	2/1.5 (-1)	1,044 (+12%)	17mo	$560,000	$536	25

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: 0.2%
• Equity multiple: 1.01×
• Total profit: $326
• Equity at exit: $22,351

10-year hold

• IRR: 9.9%
• Equity multiple: 1.76×
• Total profit: $32,057
• Equity at exit: $12,961

Cash invested: $41,972 (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 →

Seller's market Market conditions within 1.0 mi — comparable homes for sale

Active competition Active MLS

• For sale now: 1 active · 4 under contract
• Months of supply: 1.5 mo (67%/mo absorbed)
• Median asking: $369,900 ($465/sqft)
• Median days on market: 87 d
• This list price: lowest-priced of the active set
• ARV vs active asking: -46.0% vs current asking $/sqft

Closed sales set the value; these active listings set current market conditions and a practical price ceiling.

ZIP-level market 46742

• Home prices YoY: -31.9%
• Active inventory: 54
• Price-to-rent: 6.9×

Monthly cashflow live

• Estimated rent: $1,800 medium
• Mortgage (P&I): −$786
• Tax est. 1.5%: −$187 /mo · $2,248/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$378
• Net cashflow: $386

Break-even live

Break-even rent $1,311

Max offer price $149,900

Occupancy floor 74%

Sensitivity live

Price	-10% $490	-5% $438	+0% $386	+5% $334	+10% $282
Rent	-10% $244	-5% $315	+0% $386	+5% $457	+10% $528
Rate	-1.0pp $462	-0.5pp $424	base $386	+0.5pp $347	+1.0pp $308

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: $37,475
• Closing costs: $4,497
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
520 Lane 150H Hamilton Lk Hamilton, IN	3.0	1.0	774	$1,800	$2.33	1d	1	0.54mi

Property features AI

Finance

• Other: Listing broker: RE/MAX Results
• HOA & community: Located in Cold Springs Cottage Park subdivision

Exterior

• Utilities: Private well waterPublic sewer
• Home design: Single-family residential site-built homeOne story
• Construction: Vinyl siding
• Exterior features: Lakefront on Hamilton LakeIrregular lot shapeLot dimensions approximately 66 x 67

Interior

• Kitchen: MicrowaveRefrigeratorElectric rangeWater softener (owned)
• Bedrooms: Total of 8 rooms (includes bedrooms and living spaces)
• Bathrooms: 1 full bathroom
• Heating & cooling: Ceiling fansWindow air conditioning unitsNo central heating
• Interior features: Ceiling fans
• Laundry & utility: Crawl space basement

Listing history 50 events

1. 2026-09-23
   days on market $149,900 Active 167 DOM
2. 2026-09-21
   days on market $149,900 Active 165 DOM
3. 2026-09-20
   days on market $149,900 Active 164 DOM
4. 2026-09-18
   days on market $149,900 Active 162 DOM
5. 2026-09-17
   days on market $149,900 Active 161 DOM
6. 2026-09-16
   days on market $149,900 Active 160 DOM
7. 2026-09-15
   days on market $149,900 Active 159 DOM
8. 2026-09-14
   days on market $149,900 Active 158 DOM
9. 2026-09-13
   days on market $149,900 Active 157 DOM
10. 2026-09-12
    days on market $149,900 Active 156 DOM
11. 2026-09-11
    days on market $149,900 Active 155 DOM
12. 2026-09-05
    days on market $149,900 Active 149 DOM
13. 2026-09-04
    days on market $149,900 Active 148 DOM
14. 2026-09-03
    days on market $149,900 Active 147 DOM
15. 2026-09-02
    days on market $149,900 Active 146 DOM
16. 2026-08-30
    days on market $149,900 Active 143 DOM
17. 2026-08-29
    days on market $149,900 Active 142 DOM
18. 2026-08-28
    days on market $149,900 Active 141 DOM
19. 2026-08-27
    days on market $149,900 Active 140 DOM
20. 2026-08-26
    days on market $149,900 Active 139 DOM
21. 2026-08-25
    days on market $149,900 Active 138 DOM
22. 2026-08-24
    days on market $149,900 Active 137 DOM
23. 2026-08-23
    days on market $149,900 Active 136 DOM
24. 2026-08-22
    days on market $149,900 Active 135 DOM
25. 2026-08-21
    days on market $149,900 Active 134 DOM
26. 2026-08-20
    days on market $149,900 Active 133 DOM
27. 2026-08-19
    days on market $149,900 Active 132 DOM
28. 2026-08-18
    days on market $149,900 Active 131 DOM
29. 2026-08-17
    days on market $149,900 Active 130 DOM
30. 2026-08-16
    days on market $149,900 Active 129 DOM
31. 2026-08-15
    days on market $149,900 Active 128 DOM
32. 2026-08-14
    days on market $149,900 Active 127 DOM
33. 2026-08-13
    days on market $149,900 Active 126 DOM
34. 2026-08-12
    days on market $149,900 Active 125 DOM
35. 2026-08-11
    days on market $149,900 Active 124 DOM
36. 2026-08-10
    days on market $149,900 Active 123 DOM
37. 2026-08-09
    days on market $149,900 Active 122 DOM
38. 2026-08-08
    days on market $149,900 Active 121 DOM
39. 2026-08-07
    days on market $149,900 Active 120 DOM
40. 2026-08-06
    days on market $149,900 Active 119 DOM
41. 2026-08-05
    days on market $149,900 Active 118 DOM
42. 2026-08-04
    days on market $149,900 Active 117 DOM
43. 2026-08-03
    days on market $149,900 Active 116 DOM
44. 2026-07-31
    days on market $149,900 Active 113 DOM
45. 2026-07-30
    days on market $149,900 Active 112 DOM
46. 2026-07-29
    days on market $149,900 Active 111 DOM
47. 2026-07-27
    days on market $149,900 Active 109 DOM
48. 2026-07-25
    days on market $149,900 Active 107 DOM
49. 2026-07-24
    days on market $149,900 Active 106 DOM
50. 2026-07-23
    days on market $149,900 Active 105 DOM

ⓘ 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 2/10 Low 7 d/yr ≥100°F today · 17 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 3/10 Moderate 1 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $21,600
• − Mortgage interest: −$8,397
• − Property taxes: −$2,248
• − Insurance: −$750
• − Repairs & maintenance: −$1,728
• − Management: −$1,728
• − Depreciation: −$4,361
• Taxable income: $2,389
• Est. tax owed @ 24.0%: −$573
• After-tax cash flow: $4,060/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.

Condition & rehab AI · 12 photos

Good 80/100 Cosmetic rehab Est. rehab $4,680–$14,040 screening

This well-maintained and updated single-family home on Hamilton Lake offers a blend of charm and modern amenities, making it an attractive option for both resale and rental.

Value-add opportunities

• Both landscaping — enhances curb appeal and outdoor living space ↑
• Both painting — fresh paint improves interior and exterior aesthetics ↑
• Both landscaping — shared pier and sandy beach add value for both resale and rental ↑

ⓘ Rehab cost is a screening estimate — Cosmetic scope × the home's square footage at US $/sqft rules of thumb (the same model as the Flip Finder). Get contractor quotes + a written scope before underwriting.

F Composite school gradezoned avg 33/100

Zoned Schools

Elementary Hamilton Community Elementary Sch F IN #434/994 Nat'l #17,861/41,679 High Hamilton Community High School F IN #325/369 Nat'l #12,478/17,239

Schools (NCES district)

• District: Hamilton Community Schools
• NCES district ID: 1804230
• Math proficiency: 20% ▼ -20.00%
• Reading proficiency: 25% ▼ -25.00%
• Median HH income: $54,064
• Composite: 23.5/100
• National rank: #13286
• State rank: #300 of 324 in IN

C Composite livability gradescore 64/100

Livability — Hamilton

• Score: 64/100
• State rank: #384
• US rank: #14236

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Steuben · 34,334 people
• Population (ZIP): 3,126
• Household income: $77,037
• Rent vs Own: 20.3% rent · 79.7% own
• Severe rent burden: 14% of renters

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Population outlook (Steuben County) Hauer SSP2

• Today (2025): 34,334 people
• By 2030: 33,801 · -1.6%
• By 2040: 32,076 · -6.6%
• By 2050: 30,022 · -12.6%
• By 2075: 25,626 · -25.4%
• By 2100: 21,257 · -38.1%

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Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (98%)
• Race & ethnicity: White 98% Two or more races 2%
• Common ancestry: Romanian 3% Iranian 3% Italian 1%
• Foreign-born: 1%
• Languages at home: 99% English-only · Russian/Polish/Slavic 1%

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Political lean MEDSL · Steuben

• 2024 margin: Solid R (+42.1) · D 28.1% · R 70.2% · Other 1.6%
• 2008→2024 swing: -32.3pp toward R · 2008: -9.8pp · 2024: -42.1pp
• All cycles: 2024: R+42.1 2020: R+42.2 2016: R+44.0 2012: R+27.0 2008: R+9.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -110.36%
• Current HPI: 235.4538
• Rent YoY: —
• Metro: —
• State GDP YoY: ▲ 2.90%
• F500 in state: 18

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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

Property features AI

Finance

• Other: Listing broker: RE/MAX Results
• HOA & community: Located in Cold Springs Cottage Park subdivision

Exterior

• Utilities: Private well waterPublic sewer
• Home design: Single-family residential site-built homeOne story
• Construction: Vinyl siding
• Exterior features: Lakefront on Hamilton LakeIrregular lot shapeLot dimensions approximately 66 x 67

Interior

• Kitchen: MicrowaveRefrigeratorElectric rangeWater softener (owned)
• Bedrooms: Total of 8 rooms (includes bedrooms and living spaces)
• Bathrooms: 1 full bathroom
• Heating & cooling: Ceiling fansWindow air conditioning unitsNo central heating
• Interior features: Ceiling fans
• Laundry & utility: Crawl space basement

Price history

+68.4% since first listed

7 events — show timeline

• 2026-06-23 Price Changed $149,900 IRMLS
• 2026-05-26 Price Changed $154,900 IRMLS
• 2026-04-27 Price Changed $159,900 IRMLS
• 2026-04-09 Listed $164,900 IRMLS
• 2020-07-03 Sold (MLS) $72,500 IRMLS
• 2020-03-12 Listed $88,500 IRMLS
• 2018-05-03 Listed $89,000 IRMLS