816 N Hickory St · Dunkirk, IN 47336

$99,000

2 bd · 1.0 ba · 1,374 sqft · SingleFamily public records · 15 Days on market

Built 1890 0.29 ac lot Est $126k · 22% 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 +25.3/30.0
• ARV discount +15.0/15.0
• DSCR +8.4/10.0
• Appreciation +6.8/10.0
• 1% rule +6.1/10.0
• Schools +3.3/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Great family home in small town, quiet neighborhood and priced right! 3 bedroom, 1 bath, fenced yard. There have been man improvements and updates within the last 2 years. New roof, water heater, kitchen cabinets, updated bath. The windows have all been replaced with easy to clean double hung and there are 2 new steel exterior doors. All the plumbing has been replaced with Pex lines. 100 amp electrical service. Large storage shed in back yard. You can sit on the patio and watch the kids play in the large fenced back yard. Home also has a large enclosed front porch. Should finance with government backed programs. USDA area. Taxes reflect no exemptions.

Key facts

• 0.29 acre lot
• Built 1890
• Listed 14 days

Property features AI

Finance

• Other: Lot dimensions approximately 100 x 130 (0.29 acre)
• HOA & community: No association amenities

Exterior

• Utilities: Public water; Public sewer
• Home design: Single-family site-built home; One story; Facing information not provided
• Construction: Vinyl siding; Asphalt shingle roof; Crawl space foundation; Built on site
• Exterior features: Enclosed patio/porch; Porch; Shed(s); Chain link fencing; Level lot

Interior

• Flooring: Hardwood floors; Carpet
• Bathrooms: 1 full bathroom (main level)
• Heating & cooling: Natural gas forced-air heating; Ceiling fans; Window air conditioning units
• Interior features: Ceiling fans; One fireplace
• Laundry & utility: Laundry on the main level

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $99k.

Deal economics

• At list price, monthly cash flow is $226 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $99k).
• Recommended offer: $98k (1.5% below list) — sets the bar for market timing.

Location & tenants

• Location reads 64/100 on livability (#404 in IN) — a middle-class / working-renter tenant base. Strengths: crime A+, 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: 32 active listings in the ZIP; 9 units permitted in Blackford County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $4k of equity ($684 loan paydown + $4k appreciation (3.6% local appreciation)).
• Blackford County population projected at -27% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (3.6% appreciation + 3.0% rent growth), your $28k cash investment doubles in ~4 years — after that, you're playing with house money.
• By year 8, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 15 days — a 2% lower offer ($98k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 5y 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 $69k; 43% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1890 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $97,515 (1.5% below list)

Questions for the listing agent

1. Built in 1890 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. 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: 1.11% ✓
• Cap rate: 9.03%
• Cash-on-cash: 9.78%
• DSCR: 1.44
• GRM: 7.5

CMA / ARV

• ARV (on-the-fly): $126,408
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
202 Shadyside St	0.01mi	2/1.0	1,224 (-11%)	1mo	$142,500	$116	81
121 E Center St	0.47mi	2/1.0	1,376 (+0%)	6mo	$103,000	$75	73
631 N Hickory St	0.13mi	3/2.0 (+1)	1,274 (-7%)	9mo	$142,000	$111	65
201 S Meridian St	0.52mi	3/1.0 (+1)	1,312 (-4%)	5mo	$125,000	$95	59
804 N Main St	0.06mi	3/1.0 (+1)	1,225 (-11%)	19mo	$112,500	$92	58
361 E Highland Ave	0.48mi	2/1.0	1,296 (-6%)	16mo	$40,000	$31	55
343 E Ohio St	0.40mi	3/1.0 (+1)	1,267 (-8%)	13mo	$100,000	$79	53
805 Hart Dr	0.35mi	3/2.0 (+1)	1,170 (-15%)	4mo	$125,000	$107	46
446 E Center St	0.70mi	3/1.0 (+1)	1,510 (+10%)	2mo	$140,000	$93	44
135 S Broad St	0.64mi	3/1.0 (+1)	1,547 (+13%)	2mo	$27,000	$17	42
226 S Meridian St	0.56mi	3/2.0 (+1)	1,500 (+9%)	18mo	$90,000	$60	35
458 E Center St	0.72mi	3/1.5 (+1)	1,536 (+12%)	21mo	$140,000	$91	22

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

Projected returns pro-forma

3.64% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 18.2%
• Equity multiple: 2.07×
• Total profit: $29,696
• Equity at exit: $48,125

10-year hold

• IRR: 19.1%
• Equity multiple: 3.94×
• Total profit: $81,462
• Equity at exit: $77,105

Cash invested: $27,720 (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 47336

• Home prices YoY: 1.6%
• Active inventory: 32
• Price-to-rent: 7.5×

Monthly cashflow live

• Estimated rent: $1,094 medium
• Mortgage (P&I): −$519
• Tax from tax record: −$78 /mo · $938/yr
• Insurance: −$41
• HOA: −$0
• Vacancy / Maint / Mgmt: −$230
• Net cashflow: $226

Break-even live

Break-even rent $808

Max offer price $99,000

Occupancy floor 74%

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: $24,750
• Closing costs: $2,970
• Reserves months: —
• Total cash needed: —

Listing history 12 events

1. 2026-06-19
   days on market $99,000 Active 15 DOM
2. 2026-06-18
   days on market $99,000 Active 14 DOM
3. 2026-06-17
   days on market $99,000 Active 13 DOM
4. 2026-06-16
   days on market $99,000 Active 12 DOM
5. 2026-06-15
   days on market $99,000 Active 11 DOM
6. 2026-06-14
   days on market $99,000 Active 9 DOM
7. 2026-06-12
   pricedays on market $99,000 Active 8 DOM
8. 2026-06-09
   days on market $103,000 Active 5 DOM
9. 2026-06-08
   days on market $103,000 Active 4 DOM
10. 2026-06-07
    remarks 417-char remark
11. 2026-06-07
    days on market $103,000 Active 3 DOM
12. 2026-06-05
    listed $103,000 Active 1 DOM

ⓘ 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: $938 · $78/mo
• Projected year-2 tax: $938 · $78/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 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: $13,131
• − Mortgage interest: −$5,546
• − Property taxes: −$938
• − Insurance: −$495
• − Repairs & maintenance: −$1,050
• − Management: −$1,050
• − Depreciation: −$2,880
• Taxable income: $1,172
• Est. tax owed @ 24.0%: −$281
• After-tax cash flow: $2,430/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 — Dunkirk

• Score: 64/100
• State rank: #404
• US rank: #14764

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Dunkirk, IN
• Population (ZIP): 2,793

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 (95%)
• Race & ethnicity: White 95% Two or more races 3% Hispanic / Latino 2%
• Common ancestry: Italian 4% Slovak 2% Scotch-Irish 1%
• Foreign-born: 0%
• 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: ▲ 3.64%
• Current HPI: 238.768
• 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

+62.2% since first listed

3 events — show timeline

• 2026-06-03 Listed $103,000 IRMLS
• 2021-08-02 Sold (MLS) $69,000 IRMLS
• 2021-06-20 Listed $63,500 IRMLS

Property tax history

-3.9%/yr

Latest (2025): $938 · -1.9% YoY. Source: county tax records.