9082 W Sycamore St

Hatfield, IN 47634

$8,000C-

2 bd · 1.0 ba · 960 sqft · Built 1950 · SingleFamily · Pending · 1 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,039/mo
• Mortgage (P&I): −$42
• Tax + insurance: −$80
• HOA: −$0
• Vac / Maint / Mgmt: −$218
• Net cashflow: $699/mo
• Annual: $8,388/yr
• Cap rate: 121.11%
• Cash-on-cash: 410.08%
• DSCR: 19.25
• 1% rule: 12.99%
• Cash to close: $2,240

Investor read

• This is a 2-bed/1.0-bath single-family listed at $8k.
• At list price, monthly cash flow is $699 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $8k).
• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• In year one you build about $240 of equity ($55 loan paydown + $185 appreciation (2.3% local appreciation)).
• Location reads 63/100 on livability (#438 in IN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, employment A; Watch: crime C-, amenities F, commute F.
• South Spencer County School Corporation (rural): math 46% / reading 54% proficiency, ranked #58 of 301 in IN (top 19%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Luce Elementary School (math 57% / reading 47%, grade C-, #237 of 994 statewide, top 26%, 189 students, 38% FRL); South Spencer Middle School (math 39% / reading 52%, grade D+, #79 of 330 statewide, top 24%, 228 students, 56% FRL); South Spencer High School (math 47% / reading 67%, grade C, #64 of 369 statewide, top 18%, 357 students, 44% FRL).
• Watch-outs: flood insurance adds $66/mo; built in 1950 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 40 active listings in the ZIP; 78 units permitted in Spencer County in 2024 (0 in 5+ unit buildings).
• Spencer County population projected at -16% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (2.3% appreciation + 3.0% rent growth), your $2k cash investment doubles in ~1 year — after that, you're playing with house money.
• Climate carrying-cost: major flood risk; extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• Built in 1950 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
• 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.
• 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.
• 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.