612 N Monroe St · Hartford City, IN 47348

$89,900

2 bd · 1.0 ba · 1,300 sqft · SingleFamily public records · 92 Days on market

Built 1900 4,356 sqft lot $69/sqft · 23% below area Est $117k · 23% under ↓ 10% since listing

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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 +25.1/30.0
• ARV discount +15.0/15.0
• DSCR +8.2/10.0
• 1% rule +6.7/10.0
• Schools +3.3/10.0
• Livability +3.3/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Great single family home or rental investment in Hartford City! 1300 SQFT 2 bed, 1 Bath with 2 car detached garage, recently replaced furnace and central AC, New water heater, new roof, new gutters, new windows, new carpet throughout. Short drive from anything and everything in Hartford City, check it out!

Key facts

• Central ac
• Single family home
• New water heater

Tags

• SINGLE FAMILY HOME
• RENTAL INVESTMENT
• RECENTLY REPLACED FURNACE
• CENTRAL AC
• NEW WATER HEATER
• NEW ROOF

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $90k.

Deal economics

• At list price, monthly cash flow is $197 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $90k).
• Recommended offer: $82k (9.0% below list) — sets the bar for market timing.
• Cap rate 8.9% vs local median 5.1% in Hartford City — 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 66/100 on livability (#303 in IN) — a middle-class / working-renter tenant base. Strengths: 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 Intermediate School (math 45% / reading 39%, grade F, #434 of 994 statewide, top 48%, 427 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: 56 active listings in the ZIP; 9 units permitted in Blackford County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $622 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Blackford County population projected at -27% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 92 days — a 9% lower offer ($82k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

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

Recommended offer $81,809 (9.0% below list)

Questions for the listing agent

1. It's been on market 92 days. Have you received any prior offers? Is the seller open to a 9% 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 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: 1.17% ✓
• Cap rate: 8.93%
• Cash-on-cash: 9.40%
• DSCR: 1.42
• GRM: 7.1

CMA / ARV

• ARV (median comp): $117,345
• List price: $89,900
• Delta: -23.39%
• 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
413 S Cherry St	0.60mi	3/1.5 (+1)	1,305 (+0%)	1mo	$93,000	$71	63
615 W Kickapoo St	0.49mi	3/1.5 (+1)	1,229 (-6%)	0mo	$140,000	$114	61
519 N Market St	0.39mi	3/1.0 (+1)	1,219 (-6%)	8mo	$89,900	$74	60
601 W Main St	0.52mi	3/1.0 (+1)	1,208 (-7%)	1mo	$95,000	$79	58
1012 N Monroe St	0.23mi	3/2.0 (+1)	1,453 (+12%)	5mo	$229,000	$158	57
505 S High St	0.64mi	3/1.0 (+1)	1,244 (-4%)	3mo	$100,000	$80	56
100 Ivy Ln	0.62mi	3/1.5 (+1)	1,330 (+2%)	6mo	$145,000	$109	56
1410 N Richmond St	0.56mi	3/2.0 (+1)	1,344 (+3%)	6mo	$90,000	$67	54
516 E Chestnut St	0.51mi	3/1.0 (+1)	1,211 (-7%)	8mo	$126,500	$104	53
415 N Cherry St	0.31mi	3/2.0 (+1)	1,118 (-14%)	6mo	$154,000	$138	48
420 S Cherry St	0.62mi	3/1.0 (+1)	1,474 (+13%)	2mo	$72,300	$49	42
313 E Park Ave	0.63mi	3/1.0 (+1)	1,111 (-14%)	9mo	$135,000	$122	34

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: -2.1%
• Equity multiple: 0.92×
• Total profit: $-1,981
• Equity at exit: $13,404

10-year hold

• IRR: 7.6%
• Equity multiple: 1.58×
• Total profit: $14,551
• Equity at exit: $7,773

Cash invested: $25,172 (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 47348

• Home prices YoY: -17.5%
• Active inventory: 56
• Price-to-rent: 7.1×

Monthly cashflow live

• Estimated rent: $1,054 medium
• Mortgage (P&I): −$471
• Tax from tax record: −$127 /mo · $1,518/yr
• Insurance: −$37
• HOA: −$0
• Vacancy / Maint / Mgmt: −$221
• Net cashflow: $197

Break-even live

Break-even rent $804

Max offer price $89,900

Occupancy floor 76%

Sensitivity live

Price	-10% $248	-5% $223	+0% $197	+5% $172	+10% $146
Rent	-10% $114	-5% $156	+0% $197	+5% $239	+10% $281
Rate	-1.0pp $243	-0.5pp $220	base $197	+0.5pp $174	+1.0pp $150

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: $22,475
• Closing costs: $2,697
• Reserves months: —
• Total cash needed: —

Listing history 13 events

1. 2026-06-12
   statusdays on market $89,900 Pending 92 DOM
2. 2026-06-09
   days on market $89,900 Active 90 DOM
3. 2026-06-08
   days on market $89,900 Active 89 DOM
4. 2026-06-07
   days on market $89,900 Active 88 DOM
5. 2026-06-05
   days on market $89,900 Active 85 DOM
6. 2026-06-03
   days on market $89,900 Active 84 DOM
7. 2026-06-02
   days on market $89,900 Active 83 DOM
8. 2026-06-01
   days on market $89,900 Active 82 DOM
9. 2026-05-31
   days on market $89,900 Active 81 DOM
10. 2026-05-30
    days on market $89,900 Active 80 DOM
11. 2026-04-23
    price $89,900 307-char remark

    Show marketing remark (307 chars)

    Great single family home or rental investment in Hartford City! 1300 SQFT 2 bed, 1 Bath with 2 car detached garage, recently replaced furnace and central AC, New water heater, new roof, new gutters, new windows, new carpet throughout. Short drive from anything and everything in Hartford City, check it out!

12. 2026-04-12
    price $94,900 307-char remark

    Show marketing remark (307 chars)

    Great single family home or rental investment in Hartford City! 1300 SQFT 2 bed, 1 Bath with 2 car detached garage, recently replaced furnace and central AC, New water heater, new roof, new gutters, new windows, new carpet throughout. Short drive from anything and everything in Hartford City, check it out!

13. 2026-03-11
    listed $100,000 Active 307-char remark

    Show marketing remark (307 chars)

    Great single family home or rental investment in Hartford City! 1300 SQFT 2 bed, 1 Bath with 2 car detached garage, recently replaced furnace and central AC, New water heater, new roof, new gutters, new windows, new carpet throughout. Short drive from anything and everything in Hartford City, check it out!

ⓘ 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: $1,518 · $127/mo
• Projected year-2 tax: $1,518 · $127/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: $12,648
• − Mortgage interest: −$5,036
• − Property taxes: −$1,518
• − Insurance: −$450
• − Repairs & maintenance: −$1,012
• − Management: −$1,012
• − Depreciation: −$2,615
• Taxable income: $1,006
• Est. tax owed @ 24.0%: −$241
• After-tax cash flow: $2,126/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 — Hartford City

• Score: 66/100
• State rank: #303
• US rank: #12079

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Hartford City, IN
• Population (ZIP): 8,986

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 (96%)
• Race & ethnicity: White 96% Two or more races 3% Hispanic / Latino 2%
• Common ancestry: Slovak 3% Lithuanian 3% Scotch-Irish 1%
• Foreign-born: 1% · Canada
• 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: ▼ -47.19%
• Current HPI: 223.0485
• 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

-10.1% since first listed

3 events — show timeline

• 2026-04-23 Price Changed $89,900 IRMLS
• 2026-04-12 Price Changed $94,900 IRMLS
• 2026-03-11 Listed $100,000 IRMLS

Property tax history

+0.5%/yr

Latest (2025): $1,518 · +8.7% YoY. Source: county tax records.