626 W 20th St · Connersville, IN 47331

$100,000

3 bd · 1.0 ba · 1,152 sqft · SingleFamily public records · 4 Days on market

Built 1920 5,271 sqft lot Est $74k · 36% over

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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 +17.2/30.0
• DSCR +5.3/10.0
• 1% rule +4.0/10.0
• Livability +3.2/5.0
• Schools +2.9/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +2.3/10.0
• ARV discount +0.0/15.0

Listing remarks

Welcome to this charming 2-story home in Connersville featuring 3 bedrooms and 1 bathroom with a spacious, functional layout. Inside, you'll find beautiful hardwood flooring, a bright open-concept living and dining area, and fresh interior paint that creates a warm and inviting atmosphere. Recent updates include a new water heater and bathroom improvements. The unfinished basement provides ample storage and utility space, while the stove and refrigerator are included with the home. Conveniently connected to city sewer, gas, and electric services, this property offers classic character, comfortable living, and plenty of potential. A wonderful opportunity for homeowners or investors alike!

Key facts

• Hardwood flooring
• New water heater
• City sewer

Tags

• HARDWOOD FLOORING
• OPEN-CONCEPT LIVING AND DINING
• NEW WATER HEATER
• BATHROOM IMPROVEMENTS
• AMPLE STORAGE
• CITY SEWER

Property features AI

Exterior

• Utilities: Public water; Public sewer
• Home design: Two stories; Built in 1920
• Construction: Full unfinished basement
• Exterior features: Neighborhood view

Interior

• Kitchen: Gas range; Refrigerator
• Bedrooms: Primary bedroom; Bedroom 2; Bedroom 3; Bonus room
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating; Central air conditioning; Ceiling fan(s)
• Interior features: Ceiling fans
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $100k.

Deal economics

• At list price, monthly cash flow is $71 ($849/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 $90k (10.0% below list).
• Recommended offer: $90k (10.0% below list) — sets the bar for 1% rule.
• Cap rate 7.1% vs local median 4.9% in Connersville — 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 65/100 on livability (#313 in IN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: health & safety C-, crime D+, amenities F.
• Fayette County School Corporation (town): math 29% / reading 40% proficiency, ranked #206 of 301 in IN (top 68%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Connersville Middle School (math 21% / reading 38%, grade F, #212 of 330 statewide, top 67%, 505 students, 61% FRL); Connersville Sr High School (math 26% / reading 62%, grade F, #189 of 369 statewide, top 51%, 966 students, 55% FRL) — zoned schools at 58% FRL track the district average.
• Market conditions: 173 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 20 units permitted in Fayette County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $691 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Fayette County population projected at -26% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 5y 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 $80k; 25% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $90,000 (10.0% below list)

Questions for the listing agent

1. Built in 1920 — 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. 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?
4. Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
5. 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?
6. 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.
7. 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.
8. 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: 0.90% ✗
• Cap rate: 7.14%
• Cash-on-cash: 3.03%
• DSCR: 1.13
• GRM: 9.3

CMA / ARV

• ARV (on-the-fly): $73,728
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1916 Vermont Ave	0.09mi	2/1.0 (-1)	1,176 (+2%)	2mo	$108,000	$92	85
2104 Grand Ave	0.22mi	3/1.0	1,124 (-2%)	6mo	$37,500	$33	81
1824 Boulevard Pl	0.14mi	2/1.0 (-1)	1,036 (-10%)	3mo	$103,000	$99	70
2120 Vermont Ave	0.20mi	3/1.0	1,281 (+11%)	4mo	$82,500	$64	69
2160 Virginia Avenue Ave	0.39mi	3/1.0	1,242 (+8%)	1mo	$143,520	$116	68
640 W 17th St	0.25mi	3/1.5	1,032 (-10%)	2mo	$35,000	$34	68
2139 Grand Ave	0.24mi	2/1.0 (-1)	1,264 (+10%)	2mo	$119,900	$95	66
418 17th St	0.28mi	2/1.0 (-1)	1,243 (+8%)	6mo	$79,900	$64	64
2110 Grand Ave	0.23mi	2/1.0 (-1)	1,273 (+10%)	6mo	$37,500	$29	62
111 17th St	0.54mi	3/1.0	1,248 (+8%)	3mo	$112,000	$90	58
1516 Indiana Ave	0.44mi	2/1.0 (-1)	1,010 (-12%)	2mo	$38,000	$38	53
1512 Conwell St	0.68mi	2/1.0 (-1)	988 (-14%)	1mo	$55,500	$56	38

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: -11.5%
• Equity multiple: 0.58×
• Total profit: $-11,715
• Equity at exit: $14,910

10-year hold

• IRR: -2.4%
• Equity multiple: 0.84×
• Total profit: $-4,471
• Equity at exit: $8,646

Cash invested: $28,000 (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 47331

• Home prices YoY: -2.1%
• Active inventory: 173
• Price-to-rent: 9.3×

Monthly cashflow live

• Estimated rent: $900 medium
• Mortgage (P&I): −$524
• Tax from tax record: −$74 /mo · $890/yr
• Insurance: −$42
• HOA: −$0
• Vacancy / Maint / Mgmt: −$189
• Net cashflow: $71

Break-even live

Break-even rent $810

Max offer price $100,000

Occupancy floor 87%

Sensitivity live

Price	-10% $127	-5% $99	+0% $71	+5% $42	+10% $14
Rent	-10% $0	-5% $35	+0% $71	+5% $106	+10% $142
Rate	-1.0pp $121	-0.5pp $96	base $71	+0.5pp $45	+1.0pp $18

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: $25,000
• Closing costs: $3,000
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
309 W 11th St Connersville, IN	2.0	1.0	984	$900	$0.91	26d	1	0.65mi

Listing history 4 events

1. 2026-06-22
   days on market $100,000 Active 4 DOM
2. 2026-06-21
   days on market $100,000 Active 3 DOM
3. 2026-06-21
   remarks 696-char remark
4. 2026-06-21
   listed $100,000 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: $890 · $74/mo
• Projected year-2 tax: $890 · $74/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 3/10 Moderate 7 d/yr ≥100°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 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $10,800
• − Mortgage interest: −$5,602
• − Property taxes: −$890
• − Insurance: −$500
• − Repairs & maintenance: −$864
• − Management: −$864
• − Depreciation: −$2,909
• Taxable loss: −$829
• Est. tax savings @ 24.0%: +$199
• After-tax cash flow: $1,048/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: Fayette County School Corporation
• NCES district ID: 1803510
• Math proficiency: 29% ▼ -11.00%
• Reading proficiency: 40% ▼ -8.00%
• Median HH income: $38,669
• Composite: 28.81/100
• National rank: #6659
• State rank: #206 of 301 in IN

Livability — Connersville

• Score: 65/100
• State rank: #313
• US rank: #12417

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Connersville, IN
• Population (ZIP): 22,769

Population outlook (Fayette County) Hauer SSP2

• Today (2025): 21,758 people
• By 2030: 20,673 · -5.0%
• By 2040: 18,335 · -15.7%
• By 2050: 16,056 · -26.2%
• By 2075: 11,030 · -49.3%
• By 2100: 6,800 · -68.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (94%)
• Race & ethnicity: White 94% Two or more races 4% Hispanic / Latino 1% Black 1%
• Common ancestry: Italian 2% Slovak 1% Lithuanian 1%
• Foreign-born: 1% · Canada
• Languages at home: 98% English-only · Spanish 1%

Political lean MEDSL · Fayette

• 2024 margin: Solid R (+56.3) · D 21.2% · R 77.5% · Other 1.3%
• 2008→2024 swing: -50.8pp toward R · 2008: -5.6pp · 2024: -56.3pp
• All cycles: 2024: R+56.3 2020: R+54.4 2016: R+48.1 2012: R+16.9 2008: R+5.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -5.33%
• Current HPI: 252.3898
• 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

+25.2% since first listed

4 events — show timeline

• 2026-06-18 Listed $100,000 NIRA MLS as Distributed by MLS Grid
• 2021-06-04 Sold (Public Records) $79,900 Public Records
• 2021-06-04 Sold (MLS) $79,900 ECIAOR
• 2021-04-25 Listed $79,900 ECIAOR

Property tax history

+7.0%/yr

Latest (2024): $890 · +29.9% YoY. Source: county tax records.