422 W Turner St · Bloomfield, IN 47424

$58,499

3 bd · 1.0 ba · 1,272 sqft · SingleFamily public records · 292 Days on market

Built 1923 9,148 sqft lot $46/sqft · 63% below area

---

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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Livability +3.7/5.0
• Appreciation +3.6/10.0
• Schools +3.2/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

2 Bedroom, 12 x 14 ft attached garage, 200 amp service, Enclosed front porch 8 x 16.

Key facts

• Attached garage
• 200 amp service
• Enclosed front porch

Tags

• ATTACHED GARAGE
• ENCLOSED FRONT PORCH
• 200 AMP SERVICE

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $58k.

Deal economics

• At list price, monthly cash flow is $895 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $58k).
• Recommended offer: $51k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 73/100 on livability (#96 in IN) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: schools D, amenities F, commute F.
• Bloomfield School District (town): math 33% / reading 41% proficiency, ranked #169 of 301 in IN (top 56%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 54 active listings in the ZIP.

Forward outlook

• Local home prices are declining (-2.8%/yr); year-one equity from $404 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Greene County population projected at -22% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-2.8% appreciation + 3.0% rent growth), your $16k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 292 days — a 12% lower offer ($51k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 9y 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 $17k; list at $58k implies a 244% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1923 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $51,479 (12.0% below list)

Questions for the listing agent

1. It's been on market 292 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 1923 — 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 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?
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: 2.84% ✓
• Cap rate: 24.65%
• Cash-on-cash: 65.57%
• DSCR: 3.92
• GRM: 2.9

CMA / ARV

• ARV (median comp): $159,977
• List price: $58,499
• Delta: -63.43%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
455 W Main St	0.14mi	2/2.0 (-1)	1,322 (+4%)	4mo	$195,000	$148	75
523 W South St	0.34mi	3/2.0	1,310 (+3%)	2mo	$188,000	$144	74
266 W Spring St	0.22mi	2/1.0 (-1)	1,344 (+6%)	5mo	$55,000	$41	71
658 W Turner St	0.11mi	2/1.5 (-1)	1,222 (-4%)	20mo	$179,900	$147	65
118 W South St	0.38mi	2/2.0 (-1)	1,309 (+3%)	5mo	$135,000	$103	64
315 E Mechanic St	0.61mi	3/1.0	1,300 (+2%)	22mo	$152,000	$117	50
635 W Turner St	0.14mi	2/1.0 (-1)	1,092 (-14%)	20mo	$155,000	$142	48
691 Lincoln Dr	0.53mi	3/2.0	1,314 (+3%)	22mo	$199,000	$151	47
165 N Cold Springs Rd	0.60mi	2/1.0 (-1)	1,370 (+8%)	12mo	$10,000	$7	44
612 S Lewis St	0.57mi	3/1.0	1,100 (-14%)	9mo	$105,000	$95	44
98 S Lester St	0.74mi	3/1.0	1,404 (+10%)	9mo	$195,900	$140	41
257 E Indiana Avenue Ave	0.50mi	2/2.0 (-1)	1,404 (+10%)	18mo	$129,900	$93	36

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

Projected returns pro-forma

-2.84% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 64.9%
• Equity multiple: 3.93×
• Total profit: $47,951
• Equity at exit: $9,141

10-year hold

• IRR: 69.2%
• Equity multiple: 8.06×
• Total profit: $115,630
• Equity at exit: $5,779

Cash invested: $16,380 (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 47424

• Home prices YoY: -1.3%
• Active inventory: 54
• Price-to-rent: 2.9×

Monthly cashflow live

• Estimated rent: $1,664 medium
• Mortgage (P&I): −$307
• Tax from tax record: −$88 /mo · $1,060/yr
• Insurance: −$24
• HOA: −$0
• Vacancy / Maint / Mgmt: −$349
• Net cashflow: $895

Break-even live

Break-even rent $531

Max offer price $58,499

Occupancy floor 41%

Sensitivity live

Price	-10% $928	-5% $912	+0% $895	+5% $878	+10% $862
Rent	-10% $764	-5% $829	+0% $895	+5% $961	+10% $1,026
Rate	-1.0pp $924	-0.5pp $910	base $895	+0.5pp $880	+1.0pp $864

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: $14,625
• Closing costs: $1,755
• Reserves months: —
• Total cash needed: —

Listing history 26 events

1. 2026-06-21
   days on market $58,499 Active 292 DOM
2. 2026-06-21
   days on market $58,499 Active 291 DOM
3. 2026-06-18
   days on market $58,499 Active 289 DOM
4. 2026-06-17
   days on market $58,499 Active 288 DOM
5. 2026-06-16
   days on market $58,499 Active 287 DOM
6. 2026-06-15
   days on market $58,499 Active 286 DOM
7. 2026-06-13
   days on market $58,499 Active 284 DOM
8. 2026-06-12
   days on market $58,499 Active 283 DOM
9. 2026-06-09
   days on market $58,499 Active 280 DOM
10. 2026-06-08
    days on market $58,499 Active 279 DOM
11. 2026-06-07
    days on market $58,499 Active 278 DOM
12. 2026-06-07
    days on market $58,499 Active 277 DOM
13. 2026-06-04
    days on market $58,499 Active 274 DOM
14. 2026-06-02
    days on market $58,499 Active 273 DOM
15. 2026-06-01
    days on market $58,499 Active 272 DOM
16. 2026-05-31
    days on market $58,499 Active 271 DOM
17. 2026-05-31
    days on market $58,499 Active 270 DOM
18. 2026-01-20
    price $58,499 85-char remark

    Show marketing remark (85 chars)

    2 Bedroom, 12 x 14 ft attached garage, 200 amp service, Enclosed front porch 8 x 16.

19. 2025-12-28
    price $56,050 85-char remark

    Show marketing remark (85 chars)

    2 Bedroom, 12 x 14 ft attached garage, 200 amp service, Enclosed front porch 8 x 16.

20. 2025-09-03
    listed $59,000 Active 85-char remark

    Show marketing remark (85 chars)

    2 Bedroom, 12 x 14 ft attached garage, 200 amp service, Enclosed front porch 8 x 16.

21. 2017-10-31
    soldstatus $17,000
22. 2017-10-12
    listed $19,900
23. 2017-04-16
    historical
24. 2017-04-14
    listed $19,900
25. 2017-01-17
    listed $29,900
26. 2017-01-17
    listed $39,900

ⓘ 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: $1,060 · $88/mo
• Projected year-2 tax: $1,060 · $88/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 4/10 Moderate 7 d/yr ≥106°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 · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $19,967
• − Mortgage interest: −$3,277
• − Property taxes: −$1,060
• − Insurance: −$292
• − Repairs & maintenance: −$1,597
• − Management: −$1,597
• − Depreciation: −$1,702
• Taxable income: $10,441
• Est. tax owed @ 24.0%: −$2,506
• After-tax cash flow: $8,234/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: Bloomfield School District
• NCES district ID: 1800600
• Math proficiency: 33% ▼ -11.00%
• Reading proficiency: 41% ▼ -4.00%
• Median HH income: $50,351
• Composite: 32.01/100
• National rank: #5828
• State rank: #169 of 301 in IN

Livability — Bloomfield

• Score: 73/100
• State rank: #96
• US rank: #5394

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Bloomfield, IN
• Population (ZIP): 8,620

Population outlook (Greene County) Hauer SSP2

• Today (2025): 30,724 people
• By 2030: 29,506 · -4.0%
• By 2040: 26,744 · -13.0%
• By 2050: 23,879 · -22.3%
• By 2075: 18,341 · -40.3%
• By 2100: 13,976 · -54.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (96%)
• Race & ethnicity: White 96% Two or more races 2%
• Common ancestry: Italian 2% Iranian 2% Slovak 2%
• Foreign-born: 0%

Political lean MEDSL · Greene

• 2024 margin: Solid R (+53.7) · D 22.4% · R 76.1% · Other 1.6%
• 2008→2024 swing: -39.2pp toward R · 2008: -14.5pp · 2024: -53.7pp
• All cycles: 2024: R+53.7 2020: R+52.2 2016: R+53.4 2012: R+31.4 2008: R+14.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -2.84%
• Current HPI: 208.554
• 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

+95.6% since first listed

9 events — show timeline

• 2026-01-20 Price Changed $58,499 IRMLS
• 2025-12-28 Price Changed $56,050 IRMLS
• 2025-09-03 Listed $59,000 IRMLS
• 2017-10-31 Sold (MLS) $17,000 IRMLS
• 2017-10-12 Listed $19,900 IRMLS
• 2017-04-16 Listing Removed — MIBOR as Distributed by MLS Grid
• 2017-04-14 Listed $19,900 IRMLS
• 2017-01-17 Listed $39,900 MIBOR as Distributed by MLS Grid
• 2017-01-17 Listed $29,900 IRMLS

Property tax history

+64.5%/yr

Latest (2024): $1,060 · -18.0% YoY. Source: county tax records.