8429 N Nashville Rd · Warrington, IN 46186

$169,000

3 bd · 1.0 ba · 1,536 sqft · SingleFamily public records · 17 Days on market

Built 1900 7,492 sqft 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 +16.3/30.0
• ARV discount +7.5/15.0
• DSCR +5.0/10.0
• Schools +4.3/10.0
• 1% rule +3.4/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

A lovely 2 stories 3 bedrooms 1 bath 1536 sqft

Key facts

• Fresh paint
• New flooring
• Updated kitchen

Tags

• FRESH PAINT
• NEW FLOORING
• UPDATED KITCHEN
• UPDATED BATHROOM
• AMPLE STORAGE
• LARGE BEDROOM CLOSETS

Property features AI

Exterior

• Parking: Attached garage (1 car)
• Security: Smoke detector(s)
• Utilities: Private water (well); Septic system; 100 amp electric service; Leased propane
• Home design: Single family residence; Two levels
• Construction: Vinyl siding exterior; Brick foundation
• Exterior features: Covered patio; Patio; Partial fencing; Yard enclosed by partial fence

Interior

• Kitchen: Dishwasher; Microwave with hood; Electric oven; Refrigerator; Pantry
• Bedrooms: Three bedrooms on the upper level (total 3 bedrooms)
• Flooring: Luxury vinyl plank in dining room and kitchen
• Bathrooms: One full bathroom
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: Pantry; Smoke detector(s)
• Laundry & utility: Laundry closet

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $169k.

Deal economics

• At list price, monthly cash flow is $93 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $142k (16.2% below list).
• Recommended offer: $142k (16.2% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads: area grade D — affects rentability + tenant quality, not the cash-flow math above.
• Eastern Hancock County Community School Corporation (rural): math 48% / reading 50% proficiency, ranked #49 of 301 in IN (top 16%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Eastern Hancock Elementary School (math 57% / reading 47%, grade C-, #237 of 994 statewide, top 26%, 533 students, 32% FRL); Eastern Hancock Middle School (math 38% / reading 44%, grade F, #113 of 330 statewide, top 35%, 268 students, 35% FRL); Eastern Hancock High School (math 52% / reading 72%, grade B-, #41 of 369 statewide, top 12%, 378 students, 31% FRL).
• Market conditions: 14 active listings in the ZIP; 1,091 units permitted in Hancock 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.
• Hancock County population projected at +7% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• It's been on market 17 days — a 2% lower offer ($166k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 3y ago 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 $40k; list at $169k implies a 322% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

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

Recommended offer $141,584 (16.2% below list)

Questions for the listing agent

1. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. 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: 0.84% ✗
• Cap rate: 6.95%
• Cash-on-cash: 2.35%
• DSCR: 1.10
• GRM: 9.9

CMA / ARV

• ARV (on-the-fly): $36,864
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
8345 N State Road 109	0.13mi	2/1.0 (-1)	1,482 (-4%)	9mo	$35,000	$24	76

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: -12.6%
• Equity multiple: 0.54×
• Total profit: $-21,543
• Equity at exit: $25,198

10-year hold

• IRR: -3.6%
• Equity multiple: 0.76×
• Total profit: $-11,420
• Equity at exit: $14,612

Cash invested: $47,320 (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 46186

• Home prices YoY: -14.5%
• Active inventory: 14
• Price-to-rent: 9.9×

Monthly cashflow live

• Estimated rent: $1,416 medium
• Mortgage (P&I): −$886
• Tax from tax record: −$69 /mo · $829/yr
• Insurance: −$70
• HOA: −$0
• Vacancy / Maint / Mgmt: −$297
• Net cashflow: $93

Break-even live

Break-even rent $1,298

Max offer price $169,000

Occupancy floor 88%

Sensitivity live

Price	-10% $188	-5% $141	+0% $93	+5% $45	+10% $-3
Rent	-10% $-19	-5% $37	+0% $93	+5% $149	+10% $205
Rate	-1.0pp $178	-0.5pp $136	base $93	+0.5pp $49	+1.0pp $4

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: $42,250
• Closing costs: $5,070
• Reserves months: —
• Total cash needed: —

Listing history 11 events

1. 2026-06-15
   status $169,000 Pending 17 DOM
2. 2026-06-15
   days on market $169,000 Active 17 DOM
3. 2026-06-13
   days on market $169,000 Active 15 DOM
4. 2026-06-13
   days on market $169,000 Active 14 DOM
5. 2026-06-09
   days on market $169,000 Active 11 DOM
6. 2026-06-08
   days on market $169,000 Active 10 DOM
7. 2026-06-07
   days on market $169,000 Active 9 DOM
8. 2026-06-03
   days on market $169,000 Active 5 DOM
9. 2026-06-02
   days on market $169,000 Active 4 DOM
10. 2026-06-01
    days on market $169,000 Active 3 DOM
11. 2026-05-31
    days on market $169,000 Active 2 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: $829 · $69/mo
• Projected year-2 tax: $1,133 · $94/mo
• Expected delta: +$304/yr (+$25/mo · 36.6%)

ⓘ 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 ≥100°F today · 18 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 · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $16,990
• − Mortgage interest: −$9,467
• − Property taxes: −$829
• − Insurance: −$845
• − Repairs & maintenance: −$1,359
• − Management: −$1,359
• − Depreciation: −$4,916
• Taxable loss: −$1,785
• Est. tax savings @ 24.0%: +$428
• After-tax cash flow: $1,542/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: Eastern Hancock County Community School Corporation
• NCES district ID: 1803120
• Math proficiency: 48% ▼ -15.00%
• Reading proficiency: 50% ▼ -7.00%
• Median HH income: $62,582
• Composite: 43.16/100
• National rank: #3071
• State rank: #49 of 301 in IN

Livability — Warrington

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• Census place: Warrington, IN
• Population (ZIP): 1,762

Population outlook (Hancock County) Hauer SSP2

• Today (2025): 77,820 people
• By 2030: 79,914 · +2.7%
• By 2040: 82,734 · +6.3%
• By 2050: 83,348 · +7.1%
• By 2075: 82,439 · +5.9%
• By 2100: 74,181 · -4.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (97%)
• Race & ethnicity: White 97% Two or more races 2%
• Common ancestry: Slovak 1% Serbian 1% Iranian 1%
• Foreign-born: 0%
• Languages at home: 99% English-only · German/W. Germanic 1%

Political lean MEDSL · Hancock

• 2024 margin: Solid R (+33.7) · D 32.2% · R 65.9% · Other 1.9%
• 2008→2024 swing: -4.1pp toward R · 2008: -29.6pp · 2024: -33.7pp
• All cycles: 2024: R+33.7 2020: R+37.5 2016: R+44.8 2012: R+41.0 2008: R+29.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -44.32%
• Current HPI: 262.2637
• 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

+90.3% since first listed

6 events — show timeline

• 2026-05-29 Listed $169,000 MIBOR as Distributed by MLS Grid
• 2023-04-19 Sold (MLS) $40,000 MIBOR as Distributed by MLS Grid
• 2023-04-08 Pending — MIBOR as Distributed by MLS Grid
• 2023-03-27 Listed $52,900 MIBOR as Distributed by MLS Grid
• 2013-08-23 Sold (Public Records) $39,900 Public Records
• 2003-08-18 Sold (Public Records) $88,800 Public Records

Property tax history

+14.1%/yr

Latest (2025): $829 · -0.4% YoY. Source: county tax records.