515 Jackson St · Hope, IN 47246

$65,000

2 bd · 1.0 ba · 1,088 sqft · SingleFamily public records · 1 Days on market

Built 1985 8,250 sqft lot

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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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• 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

Investor property, ready for a makeover! Great location, with a 1 C garage.

Key facts

• 8,250 sq ft lot
• Garage
• Built 1985

Property features AI

Exterior

• Parking: Detached 1-car garage
• Utilities: Public water; Municipal sewer connection
• Home design: Single-family residence; One story
• Construction: Aluminum siding; Crawl space foundation
• Exterior features: Less than 1/4 acre lot; 0.19 acre lot

Interior

• Kitchen: Electric oven; Eat-in kitchen layout
• Bedrooms: Two bedrooms on the main level
• Bathrooms: One full bathroom on the main level
• Heating & cooling: Wall furnace heating; Wall-mounted air conditioning units
• Interior features: Attic access; Built-in features; Eat-in kitchen
• Laundry & utility: Main-level laundry

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $65k.

Deal economics

• At list price, monthly cash flow is $347 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $65k).

Location & tenants

• Location reads 66/100 on livability (#284 in IN) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: employment D+, amenities F, commute F.
• Flat Rock-Hawcreek School Corporation (rural): math 39% / reading 38% proficiency, ranked #151 of 301 in IN (top 50%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Hope Elementary School (math 52% / reading 37%, grade F, #379 of 994 statewide, top 41%, 528 students, 55% FRL); Hauser Jr-Sr High School (math 26% / reading 40%, grade F, #290 of 369 statewide, top 79%, 444 students, 46% FRL) — zoned schools average 50% FRL vs 35% district-wide (16 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 22 active listings in the ZIP; 195 units permitted in Bartholomew County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $449 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Bartholomew County population projected at +22% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $18k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.

Recommended offer $65,000

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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.
3. 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.
4. 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: 1.64% ✓
• Cap rate: 12.71%
• Cash-on-cash: 22.90%
• DSCR: 2.02
• GRM: 5.1

CMA / ARV

• ARV (on-the-fly): $163,200
• Comps found: 11

Show comp detail 11 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
531 Jackson St	0.02mi	3/1.0 (+1)	1,088 (0%)	1mo	$92,500	$85	93
329 Cross St	0.14mi	2/1.0	1,100 (+1%)	9mo	$164,900	$150	84
505 Race St	0.32mi	3/1.0 (+1)	1,056 (-3%)	4mo	$179,500	$170	72
320 Union St	0.40mi	2/1.0	1,080 (-1%)	12mo	$62,500	$58	70
504 Union St	0.36mi	2/1.0	1,068 (-2%)	12mo	$195,755	$183	70
205 Walnut St	0.30mi	3/2.0 (+1)	1,152 (+6%)	3mo	$150,000	$130	64
425 Aiken St	0.58mi	3/1.0 (+1)	1,100 (+1%)	9mo	$175,000	$159	58
1015 Washington St	0.39mi	2/1.0	960 (-12%)	7mo	$162,000	$169	56
1123 Washington St	0.48mi	3/2.0 (+1)	1,200 (+10%)	3mo	$256,000	$213	49
328 Market St	0.31mi	3/1.0 (+1)	960 (-12%)	16mo	$135,000	$141	47
1136 High St	0.50mi	2/1.5	1,232 (+13%)	13mo	$185,000	$150	42

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: 15.9%
• Equity multiple: 1.64×
• Total profit: $11,633
• Equity at exit: $9,692

10-year hold

• IRR: 24.5%
• Equity multiple: 3.13×
• Total profit: $38,792
• Equity at exit: $5,620

Cash invested: $18,200 (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 47246

• Active inventory: 22
• Price-to-rent: 5.1×

Monthly cashflow live

• Estimated rent: $1,064 medium
• Mortgage (P&I): −$341
• Tax from tax record: −$125 /mo · $1,506/yr
• Insurance: −$27
• HOA: −$0
• Vacancy / Maint / Mgmt: −$224
• Net cashflow: $347

Break-even live

Break-even rent $625

Max offer price $65,000

Occupancy floor 62%

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: $16,250
• Closing costs: $1,950
• Reserves months: —
• Total cash needed: —

Listing history 2 events

1. 2026-06-10
   remarks 76-char remark
2. 2026-06-10
   listed $65,000 Pending 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: $1,506 · $125/mo
• Projected year-2 tax: $1,506 · $125/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 4/10 Moderate 7 d/yr ≥102°F today · 19 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $12,771
• − Mortgage interest: −$3,641
• − Property taxes: −$1,506
• − Insurance: −$325
• − Repairs & maintenance: −$1,022
• − Management: −$1,022
• − Depreciation: −$1,891
• Taxable income: $3,365
• Est. tax owed @ 24.0%: −$808
• After-tax cash flow: $3,360/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: Flat Rock-Hawcreek School Corporation
• NCES district ID: 1803570
• Math proficiency: 39% ▼ -12.00%
• Reading proficiency: 38% ▼ -8.00%
• Median HH income: $51,999
• Composite: 33.45/100
• National rank: #5461
• State rank: #151 of 301 in IN

Livability — Hope

• Score: 66/100
• State rank: #284
• US rank: #11628

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Hope, IN
• City population: 4,142
• Population (ZIP): 4,142

Population outlook (Bartholomew County) Hauer SSP2

• Today (2025): 90,162 people
• By 2030: 94,432 · +4.7%
• By 2040: 102,659 · +13.9%
• By 2050: 109,794 · +21.8%
• By 2075: 123,419 · +36.9%
• By 2100: 121,047 · +34.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (92%)
• Race & ethnicity: White 92% Two or more races 3% Asian 2% Hispanic / Latino 2%
• Common ancestry: Slovak 1% Italian 1% Lithuanian 1%
• Foreign-born: 1% · Canada
• Languages at home: 98% English-only · Spanish 1%

Political lean MEDSL · Bartholomew

• 2024 margin: Strong R (+27.3) · D 35.3% · R 62.7% · Other 2.0%
• 2008→2024 swing: -16.1pp toward R · 2008: -11.3pp · 2024: -27.3pp
• All cycles: 2024: R+27.3 2020: R+26.2 2016: R+33.3 2012: R+25.4 2008: R+11.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -102.28%
• Current HPI: 173.5941
• 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

2 events — show timeline

• 2026-06-10 Pending — MIBOR as Distributed by MLS Grid
• 2026-06-09 Listed $65,000 MIBOR as Distributed by MLS Grid

Property tax history

+1.4%/yr

Latest (2024): $1,506 · -10.9% YoY. Source: county tax records.