5100 S Bethany Church Rd · Hatfield, IN 47601

$179,900

3 bd · 2.0 ba · 1,232 sqft · Manufactured public records · 15 Days on market

Built 2010 3.49 ac lot

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Why this score? — see what drove the D 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 +13.2/30.0
• ARV discount +7.5/15.0
• Schools +4.9/10.0
• DSCR +4.0/10.0
• Livability +3.2/5.0
• 1% rule +2.6/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

A charming and efficiently designed 1,232-square-foot manufactured home. It features a desirable split-bedroom floor plan that maximizes privacy and functional living space.

Key facts

• 3.49 acre lot
• 2 garage spots
• Built 2010

Property features AI

Exterior

• Parking: 2-car garage
• Utilities: Public water; Public sewer
• Home design: One-story home; Built in 2010
• Construction: Year built 2010
• Exterior features: View of trees/woods

Interior

• Kitchen: Gas range; Refrigerator; Eat-in kitchen layout
• Bedrooms: Primary bedroom; Bedroom 2; Bedroom 3
• Bathrooms: 2 full bathrooms
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: Ceiling fans; Soaking tub; Eat-in kitchen; 6 total rooms
• Laundry & utility: Laundry on main level

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $180k.

Deal economics

• At list price, monthly cash flow is $-3 ($-36/yr) — negative.
• To cash-flow at today's rent, offer at most $179k (0.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $137k (23.9% below list).
• Recommended offer: $137k (23.9% below list) — sets the bar for 1% rule.

Location & tenants

• 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-, schools F, amenities F.
• Warrick County School Corporation (suburban): math 54% / reading 59% proficiency, ranked #24 of 301 in IN (top 8%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 158 active listings in the ZIP; 249 units permitted in Warrick County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• Warrick County population projected at +9% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• It's been on market 15 days — a 2% lower offer ($177k) is reasonable based on typical stale-listing flexibility.

Recommended offer $136,936 (23.9% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
5. 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.
6. 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.
7. 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: 0.76% ✗
• Cap rate: 6.27%
• Cash-on-cash: -0.07%
• DSCR: 1.00
• GRM: 10.9

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: -16.5%
• Equity multiple: 0.42×
• Total profit: $-29,419
• Equity at exit: $26,824

10-year hold

• IRR: -8.3%
• Equity multiple: 0.48×
• Total profit: $-26,174
• Equity at exit: $15,554

Cash invested: $50,372 (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 47601

• Active inventory: 158
• Price-to-rent: 10.9×

Monthly cashflow live

• Estimated rent: $1,369 medium
• Mortgage (P&I): −$943
• Tax from tax record: −$66 /mo · $797/yr
• Insurance: −$75
• HOA: −$0
• Vacancy / Maint / Mgmt: −$288
• Net cashflow: $-3

Break-even live

Break-even rent $1,373

Max offer price $179,371

Occupancy floor 95%

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: $44,975
• Closing costs: $5,397
• Reserves months: —
• Total cash needed: —

Listing history 11 events

1. 2026-06-18
   days on market $179,900 Active 15 DOM
2. 2026-06-17
   days on market $179,900 Active 14 DOM
3. 2026-06-16
   days on market $179,900 Active 13 DOM
4. 2026-06-15
   days on market $179,900 Active 12 DOM
5. 2026-06-14
   days on market $179,900 Active 10 DOM
6. 2026-06-13
   days on market $179,900 Active 9 DOM
7. 2026-06-10
   days on market $179,900 Active 7 DOM
8. 2026-06-09
   days on market $179,900 Active 6 DOM
9. 2026-06-08
   days on market $179,900 Active 5 DOM
10. 2026-06-07
    remarks 173-char remark
11. 2026-06-07
    listed $179,900 Active 4 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: $797 · $66/mo
• Projected year-2 tax: $1,163 · $97/mo
• Expected delta: +$366/yr (+$31/mo · 45.9%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 4/10 Moderate 7 d/yr ≥106°F today · 18 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 2% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $16,432
• − Mortgage interest: −$10,077
• − Property taxes: −$797
• − Insurance: −$900
• − Repairs & maintenance: −$1,315
• − Management: −$1,315
• − Depreciation: −$5,233
• Taxable loss: −$3,204
• Est. tax savings @ 24.0%: +$769
• After-tax cash flow: $733/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: Warrick County School Corporation
• NCES district ID: 1812390
• Math proficiency: 54% ▼ -8.00%
• Reading proficiency: 59% ▼ -6.00%
• Median HH income: $62,801
• Composite: 49.38/100
• National rank: #2014
• State rank: #24 of 301 in IN

Livability — Hatfield

• Score: 63/100
• State rank: #438
• US rank: #15721

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 13,119

Population outlook (Warrick County) Hauer SSP2

• Today (2025): 66,569 people
• By 2030: 68,404 · +2.8%
• By 2040: 71,131 · +6.9%
• By 2050: 72,743 · +9.3%
• By 2075: 76,088 · +14.3%
• By 2100: 72,261 · +8.6%

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: Slovak 2% Italian 1% Lithuanian 1%
• Foreign-born: 0% · Canada
• Languages at home: 99% English-only · Spanish 1%

Political lean MEDSL · Warrick

• 2024 margin: Solid R (+30.2) · D 34.1% · R 64.3% · Other 1.5%
• 2008→2024 swing: -17.4pp toward R · 2008: -12.8pp · 2024: -30.2pp
• All cycles: 2024: R+30.2 2020: R+27.8 2016: R+33.9 2012: R+26.6 2008: R+12.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -119.46%
• Current HPI: 207.7817
• 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

1 event — show timeline

• 2026-06-03 Listed $179,900 NIRA MLS as Distributed by MLS Grid

Property tax history

+4.0%/yr

Latest (2024): $797 · -4.9% YoY. Source: county tax records.