780 Lane 120 Hamilton Lk Lk · Hamilton, IN
Flood risk 1/10 · Minimal
- FEMA flood zone
- X (unshaded)
- Chance of flooding over 30 yrs
- 0.0%
- Est. flood insurance / yr
- $507 – $1,088
Fire risk 1/10 · Minimal
- Est. fire insurance / yr
- $717 – $1,331
Heat risk 2/10 · Minimal
- Hot days now (above 100°F)
- 7 days/yr
- Hot days in 30 yrs
- 17 days/yr
Wind risk 2/10 · Minimal
- Chance of severe wind over 30 yrs
- —
Air-quality risk 3/10 · Minor
- Unhealthy air days now
- 1 days/yr
- Unhealthy air days in 30 yrs
- 3 days/yr
Risk factors via First Street. Map © Google.
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
$149,900
780 Lane 120 Hamilton Lk Lk · Hamilton, IN 46742
3 bd · 1.0 ba · 936 sqft · SingleFamily
· 213 Days on market
Built 1900
4,356 sqft lot
$160/sqft
· 42% below area
Est $258k · 42% under
🖨 Deal sheet (PDF) 📄 Offer letter ✓ Due diligence
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
Neighborhood map
Sold within
Property
Rental comp
Retail
Costco
Walmart
Transit
Schools
Stadiums
Fortune 500
· Circle radius: 6.0 mi
Loading POIs…
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 2.5% 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: 61 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 213 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
- It's been on market 213 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
- Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
- Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
- Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
- 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?
- 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.
- 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.
- 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)
- $258,456
- List price
- $149,900
- Delta
- -42.00%
- Verdict
- UNDERPRICED
- Comps
- 12 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%) | 6mo | $169,900 | $206 | 75 |
| 40 Lane 120ed Hamilton Lk | 0.18mi | 3/1.0 | 790 (-16%) | 16mo | $192,500 | $244 | 53 |
| 635 Lane 101 Hamilton Lake Lk | 0.60mi | 2/1.0 (-1) | 832 (-11%) | 14mo | $450,000 | $541 | 36 |
| 795 Lane 280 Hamilton Lk Lk | 0.83mi | 2/2.0 (-1) | 1,034 (+10%) | 3mo | $515,000 | $498 | 36 |
| 980 Lane 221b Hamilton Lake Lk | 0.97mi | 3/1.0 | 1,083 (+16%) | 5mo | $460,000 | $425 | 36 |
| 140 221c Hamilton Lake Ln | 0.98mi | 2/1.5 (-1) | 806 (-14%) | 3mo | $160,000 | $199 | 32 |
| 220 Lane 280a Hamilton Lake Lk | 0.80mi | 2/1.5 (-1) | 1,044 (+12%) | 18mo | $560,000 | $536 | 24 |
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.
Balanced market
Market conditions
within 1.0 mi — comparable homes for sale
Active competition Active MLS
- For sale now
- 2 active · 3 under contract
- Months of supply
- 4.0 mo (25%/mo absorbed)
- Median asking
- $334,900 ($389/sqft)
- Median days on market
- 84 d
- This list price
- lowest-priced of the active set
- ARV vs active asking
- -28.9% 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
- 61
- Price-to-rent
- 6.9×
Monthly cashflow live
↻
- Estimated rent
- $1,800 medium interval (Pro) →
- Mortgage (P&I)
- −$786
- Tax est. 1.5%
- −$187 /mo · $2,248/yr
- Insurance
- −$62
- HOA
- −$0
- Lot rent
- −$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
- —
Loan-product check · same deal, 3 products live
Conventional
25% down · 7.5% · 30yr
- Cash invested
- —
- Monthly P&I
- —
- Monthly cashflow
- —
- DSCR
- —
- Eligible?
- —
Personal DTI + credit; lowest rate.
DSCR
20% down · 8.5% · 30yr
- Cash invested
- —
- Monthly P&I
- —
- Monthly cashflow
- —
- DSCR
- —
- Eligible?
- —
No personal income docs; deal must DSCR.
Hard money
10% down · 12.0% · 12mo
- Cash invested
- —
- Monthly P&I
- —
- Monthly cashflow
- —
- DSCR
- —
- Eligible?
- —
Short-term bridge; refi at stabilization.
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 | 13d | 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
-
2026-11-08days on market $149,900 Active 213 DOM
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2026-11-07days on market $149,900 Active 212 DOM
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2026-11-06days on market $149,900 Active 211 DOM
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2026-11-05days on market $149,900 Active 210 DOM
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2026-11-04days on market $149,900 Active 209 DOM
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2026-11-02days on market $149,900 Active 207 DOM
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2026-11-01days on market $149,900 Active 206 DOM
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2026-10-31days on market $149,900 Active 205 DOM
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2026-10-30days on market $149,900 Active 204 DOM
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2026-10-29days on market $149,900 Active 203 DOM
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2026-10-28days on market $149,900 Active 202 DOM
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2026-10-27days on market $149,900 Active 201 DOM
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2026-10-26days on market $149,900 Active 200 DOM
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2026-10-25days on market $149,900 Active 199 DOM
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2026-10-24days on market $149,900 Active 198 DOM
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2026-10-23days on market $149,900 Active 197 DOM
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2026-10-22days on market $149,900 Active 196 DOM
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2026-10-21days on market $149,900 Active 195 DOM
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2026-10-20days on market $149,900 Active 194 DOM
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2026-10-19days on market $149,900 Active 193 DOM
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2026-10-18days on market $149,900 Active 192 DOM
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2026-10-17days on market $149,900 Active 191 DOM
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2026-10-16days on market $149,900 Active 190 DOM
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2026-10-15days on market $149,900 Active 189 DOM
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2026-10-14days on market $149,900 Active 188 DOM
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2026-10-13days on market $149,900 Active 187 DOM
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2026-10-12days on market $149,900 Active 186 DOM
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2026-10-11days on market $149,900 Active 185 DOM
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2026-10-10days on market $149,900 Active 184 DOM
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2026-10-09days on market $149,900 Active 183 DOM
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2026-10-08days on market $149,900 Active 182 DOM
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2026-10-07days on market $149,900 Active 181 DOM
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2026-10-06days on market $149,900 Active 180 DOM
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2026-10-05days on market $149,900 Active 179 DOM
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2026-10-04days on market $149,900 Active 178 DOM
-
2026-10-04days on market $149,900 Active 177 DOM
-
2026-10-02days on market $149,900 Active 176 DOM
-
2026-10-01days on market $149,900 Active 175 DOM
-
2026-09-30days on market $149,900 Active 174 DOM
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2026-09-29days on market $149,900 Active 173 DOM
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2026-09-28days on market $149,900 Active 172 DOM
-
2026-09-27days on market $149,900 Active 171 DOM
-
2026-09-26days on market $149,900 Active 170 DOM
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2026-09-25days on market $149,900 Active 169 DOM
-
2026-09-24days on market $149,900 Active 168 DOM
-
2026-09-23days on market $149,900 Active 167 DOM
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2026-09-21days on market $149,900 Active 165 DOM
-
2026-09-20days on market $149,900 Active 164 DOM
-
2026-09-18days on market $149,900 Active 162 DOM
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2026-09-17days on market $149,900 Active 161 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
Nearby sold comps map
Loading sold comps map…
Walkable amenities ~0.75 mi
Loading nearby amenities…
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
combined federal + state — saved on this device
- 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
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
- Severe rent burden
- 14% of renters
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%
Race, ethnicity, and origin ACS 2023
- Neighborhood character
- Predominantly White (98%)
- Race & ethnicity
- White 98% Two or more races 2%
- Languages at home
- 99% English-only · Russian/Polish/Slavic 1%
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
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 |
|
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Price history
+68.4% since first listed7 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
Cash-flow waterfall
monthlySold comps — $/sqft
last 12 mo · ≤1 miLoading sold comps…