607 S Jefferson St · Hartford City, IN 47348

$48,000

3 bd · 2.0 ba · 1,616 sqft · SingleFamily public records · 160 Days on market

Built 1900 6,960 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

This home has some good bones but needs TLC but for this price- it is totally worth the investment! Spacious upper level features enormous bathroom & two bedrooms. The main level offers living room w/ fireplace (unsure if works), 1 bedroom, dining room, kithchen , full bath and laundry room. GFA newer, no AC. Gas Water heater. Detached garage on the alley. Conveniently located to parks, gas stations, restaurants and stores-walking distance. Currently rented $750 a month Renovation loans would be option on this one!

Key facts

• Walking distance
• Living room
• Enormous bathroom

Tags

• ENORMOUS BATHROOM
• LIVING ROOM
• DETACHED GARAGE
• WALKING DISTANCE

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $48k.

Deal economics

• At list price, monthly cash flow is $517 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $48k).
• Recommended offer: $42k (12.0% below list) — sets the bar for market timing.
• Cap rate 19.2% 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 Jr-Sr High School (math 25% / reading 43%, grade F, #285 of 369 statewide, top 78%, 717 students, 50% FRL).
• Market conditions: 55 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 $332 of loan paydown is wiped out by about $1k 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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $13k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 160 days — a 12% lower offer ($42k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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 $30k; list at $48k implies a 60% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 3.8% of price; built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $42,240 (12.0% below list)

Questions for the listing agent

1. It's been on market 160 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 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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.
8. 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.
9. 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: 2.48% ✓
• Cap rate: 19.21%
• Cash-on-cash: 46.12%
• DSCR: 3.05
• GRM: 3.4

CMA / ARV

• ARV (on-the-fly): $124,432
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
600 W Fulton St	0.38mi	3/1.5	1,560 (-4%)	1mo	$135,000	$87	74
420 S Cherry St	0.28mi	3/1.0	1,474 (-9%)	2mo	$72,300	$49	67
413 E Water St	0.39mi	4/1.0 (+1)	1,677 (+4%)	10mo	$11,000	$7	58
509 E Main St	0.52mi	2/1.0 (-1)	1,582 (-2%)	8mo	$85,000	$54	56
117 E Kickapoo St	0.59mi	3/1.5	1,582 (-2%)	15mo	$169,000	$107	55
408 E Grant St	0.64mi	3/1.0	1,544 (-4%)	5mo	$123,500	$80	55
823 W Commercial St	0.59mi	4/1.0 (+1)	1,600 (-1%)	10mo	$5,000	$3	53
724 W Commercial St	0.54mi	4/2.0 (+1)	1,748 (+8%)	5mo	$134,000	$77	52
417 E 4th St	0.42mi	3/2.0	1,381 (-14%)	8mo	$72,900	$53	50
221 W Franklin St	0.51mi	3/1.0	1,800 (+11%)	9mo	$123,500	$69	46
904 W Harrison St	0.59mi	3/1.0	1,458 (-10%)	9mo	$160,000	$110	45
501 W Grant St	0.68mi	4/2.5 (+1)	1,839 (+14%)	5mo	$158,000	$86	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: 43.4%
• Equity multiple: 2.87×
• Total profit: $25,195
• Equity at exit: $7,157

10-year hold

• IRR: 49.5%
• Equity multiple: 5.81×
• Total profit: $64,604
• Equity at exit: $4,150

Cash invested: $13,440 (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: 55
• Price-to-rent: 3.4×

Monthly cashflow live

• Estimated rent: $1,190 medium
• Mortgage (P&I): −$252
• Tax from tax record: −$152 /mo · $1,820/yr
• Insurance: −$20
• HOA: −$0
• Vacancy / Maint / Mgmt: −$250
• Net cashflow: $517

Break-even live

Break-even rent $536

Max offer price $48,000

Occupancy floor 52%

Sensitivity live

Price	-10% $544	-5% $530	+0% $517	+5% $503	+10% $489
Rent	-10% $423	-5% $470	+0% $517	+5% $564	+10% $611
Rate	-1.0pp $541	-0.5pp $529	base $517	+0.5pp $504	+1.0pp $491

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: $12,000
• Closing costs: $1,440
• Reserves months: —
• Total cash needed: —

Listing history 4 events

1. 2025-10-23
   status Pending
2. 2025-05-16
   listed $48,000 Active
3. 2025-05-16
   listed $48,000 Active
4. 2012-02-02
   soldstatus $30,000

ⓘ 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: $1,820 · $152/mo
• Projected year-2 tax: $1,820 · $152/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 2/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥99°F today · 18 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% 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: $14,277
• − Mortgage interest: −$2,689
• − Property taxes: −$1,820
• − Insurance: −$240
• − Repairs & maintenance: −$1,142
• − Management: −$1,142
• − Depreciation: −$1,396
• Taxable income: $5,848
• Est. tax owed @ 24.0%: −$1,403
• After-tax cash flow: $4,795/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

+60.0% since first listed

4 events — show timeline

• 2025-10-23 Pending — IRMLS
• 2025-05-16 Listed $48,000 IRMLS
• 2025-05-16 Listed $48,000 MIBOR as Distributed by MLS Grid
• 2012-02-02 Sold (Public Records) $30,000 Public Records

Property tax history

+13.3%/yr

Latest (2025): $1,820 · +58.3% YoY. Source: county tax records.