512 S Poplar St · Greensburg, IN 47240

$279,000

3 bd · 2.0 ba · 1,489 sqft · SingleFamily public records · 12 Days on market

Built 1987 0.38 ac lot Est $243k · 15% over ↓ 7% since listing

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Why this score? — see what drove the C+ 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
• DSCR +10.0/10.0
• 1% rule +9.3/10.0
• Schools +3.8/10.0
• Livability +3.5/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• ARV discount +0.8/15.0
• Appreciation +0.0/10.0

Listing remarks

Spacious and well-maintained, this 3-bedroom, 2-bath ranch offers nearly 1,500 square feet of comfortable living space with a thoughtfully designed floor plan. The large primary suite features a walk-in closet and full bath, while the open-concept living room, kitchen, and dining area create an inviting atmosphere for both everyday living and entertaining. The expansive kitchen and dining area offer abundant cabinet, pantry, and counter space along with plenty of room for family gatherings and daily life. A patio door off the dining area leads to the open patio, providing the perfect space to relax, grill, or enjoy outdoor entertaining. Generously sized secondary bedrooms, ample storage, an

Key facts

• Open patio
• Sump pump
• Walk-in closet

Tags

• WALK-IN CLOSET
• OPEN PATIO
• DETACHED GARAGE
• DEDICATED WORKSHOP SPACE
• NEWER HVAC SYSTEM
• SUMP PUMP

Property features AI

Exterior

• Parking: Attached garage with approximately 480 sq ft; Two garage spaces; Concrete floor; Garage includes storage and a workshop area
• Utilities: Public water; Municipal sewer connected; Electricity connected with 200+ amp service
• Home design: Single-family residence; One story
• Construction: Brick construction; Block foundation
• Exterior features: Patio; Front porch; Small barn; Mature trees on the lot; No fence

Interior

• Kitchen: Electric oven; Dishwasher; Refrigerator; Pantry
• Bedrooms: Three main-level bedrooms; Primary bedroom with walk-in closet
• Bathrooms: Two full bathrooms; Primary bathroom with full shower stall and suite layout
• Heating & cooling: Electric forced-air heating; Central air conditioning
• Interior features: Attic access; Pantry; Stained/painted woodwork
• Laundry & utility: Main-level laundry; Washer; Dryer; Electric water heater

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $279k.

Deal economics

• At list price, monthly cash flow is $1k ($15k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $279k).
• Cap rate 11.6% vs local median 5.9% in Greensburg — 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 69/100 on livability (#200 in IN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime B+; Watch: employment C-, amenities F, commute F.
• Greensburg Community Schools (town): math 38% / reading 51% proficiency, ranked #102 of 301 in IN (top 34%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Greensburg Elementary (math 60% / reading 47%, grade C, #225 of 994 statewide, top 23%, 1,037 students, 55% FRL); Greensburg Community High School (math 27% / reading 67%, grade D-, #143 of 369 statewide, top 44%, 671 students, 44% FRL).
• Market conditions: 155 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 66 units permitted in Decatur County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $8k of value loss. Plan a longer hold.
• Decatur County population projected at +6% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $78k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• Only 12 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 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.

Recommended offer $279,000

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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?
3. 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.
4. 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.
5. 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: 1.43% ✓
• Cap rate: 11.57%
• Cash-on-cash: 18.86%
• DSCR: 1.84
• GRM: 5.8

CMA / ARV

• ARV (on-the-fly): $242,707
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
605 E Char Lou Dr	0.12mi	3/2.0	1,344 (-10%)	9mo	$237,500	$177	71
1037 E Lakeshore Dr	0.55mi	3/2.0	1,512 (+2%)	3mo	$281,000	$186	69
1037 E Tara Rd	0.53mi	3/2.0	1,468 (-1%)	9mo	$255,000	$174	65
824 E Main St	0.45mi	2/1.0 (-1)	1,468 (-1%)	4mo	$179,900	$123	65
937 E Hendricks St	0.68mi	3/2.0	1,512 (+2%)	2mo	$323,000	$214	64
730 E Washington St	0.48mi	3/2.0	1,344 (-10%)	1mo	$218,500	$163	60
321 W Lou Ln	0.64mi	3/2.0	1,456 (-2%)	7mo	$168,000	$115	60
909 S Ireland St	0.64mi	3/2.0	1,547 (+4%)	6mo	$180,000	$116	58
1123 E Tara Rd	0.70mi	3/2.0	1,394 (-6%)	2mo	$270,000	$194	54
1129 E Tara Rd	0.72mi	3/1.5	1,580 (+6%)	7mo	$225,000	$142	48
402 W Washington St	0.74mi	3/1.0	1,328 (-11%)	2mo	$170,000	$128	41
327 W Bryant St	0.57mi	3/1.0	1,709 (+15%)	7mo	$200,000	$117	39

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: 10.7%
• Equity multiple: 1.42×
• Total profit: $33,059
• Equity at exit: $41,600

10-year hold

• IRR: 19.8%
• Equity multiple: 2.66×
• Total profit: $129,738
• Equity at exit: $24,123

Cash invested: $78,120 (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 47240

• Home prices YoY: -25.0%
• Active inventory: 155
• Price-to-rent: 5.8×

Monthly cashflow live

• Estimated rent: $3,995 medium
• Mortgage (P&I): −$1,463
• Tax est. 1.5%: −$349 /mo · $4,185/yr
• Insurance: −$116
• HOA: −$0
• Vacancy / Maint / Mgmt: −$839
• Net cashflow: $1,228

Break-even live

Break-even rent $2,441

Max offer price $279,000

Occupancy floor 64%

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: $69,750
• Closing costs: $8,370
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1011 N Anderson St Greensburg, IN	3.0	2.5	1620	$3,995	$2.47	12d	1	1.21mi

Listing history 10 events

1. 2026-06-18
   days on market $279,000 Active 12 DOM
2. 2026-06-17
   days on market $279,000 Active 11 DOM
3. 2026-06-16
   days on market $279,000 Active 10 DOM
4. 2026-06-15
   days on market $279,000 Active 9 DOM
5. 2026-06-13
   days on market $279,000 Active 7 DOM
6. 2026-06-12
   days on market $279,000 Active 6 DOM
7. 2026-06-09
   days on market $279,000 Active 3 DOM
8. 2026-06-08
   days on market $279,000 Active 2 DOM
9. 2026-06-07
   remarks 699-char remark
10. 2026-06-07
    listed $279,000 Active 1 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

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 ≥102°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 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $47,940
• − Mortgage interest: −$15,628
• − Property taxes: −$4,185
• − Insurance: −$1,395
• − Repairs & maintenance: −$3,835
• − Management: −$3,835
• − Depreciation: −$8,116
• Taxable income: $10,945
• Est. tax owed @ 24.0%: −$2,627
• After-tax cash flow: $12,109/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: Greensburg Community Schools
• NCES district ID: 1804080
• Math proficiency: 38% ▼ -7.00%
• Reading proficiency: 51% ▼ -2.00%
• Median HH income: $47,723
• Composite: 37.96/100
• National rank: #4301
• State rank: #102 of 301 in IN

Livability — Greensburg

• Score: 69/100
• State rank: #200
• US rank: #8922

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Greensburg, IN
• Population (ZIP): 21,514

Population outlook (Decatur County) Hauer SSP2

• Today (2025): 27,709 people
• By 2030: 28,278 · +2.1%
• By 2040: 29,195 · +5.4%
• By 2050: 29,512 · +6.5%
• By 2075: 29,835 · +7.7%
• By 2100: 27,192 · -1.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (93%)
• Race & ethnicity: White 93% Two or more races 5% Hispanic / Latino 3%
• Common ancestry: Slovak 2% Serbian 1% Romanian 1%
• Foreign-born: 1% · Canada
• Languages at home: 98% English-only · Spanish 2%

Political lean MEDSL · Decatur

• 2024 margin: Solid R (+58.5) · D 19.9% · R 78.4% · Other 1.8%
• 2008→2024 swing: -34.1pp toward R · 2008: -24.4pp · 2024: -58.5pp
• All cycles: 2024: R+58.5 2020: R+58.1 2016: R+57.4 2012: R+40.5 2008: R+24.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -70.13%
• Current HPI: 210.3591
• 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

-7.0% since first listed

5 events — show timeline

• 2026-06-06 Listed $279,000 MIBOR as Distributed by MLS Grid
• 2026-05-10 Listing Removed — MIBOR as Distributed by MLS Grid
• 2026-05-10 Relisted — MIBOR as Distributed by MLS Grid
• 2026-01-15 Price Changed $287,500 MIBOR as Distributed by MLS Grid
• 2025-11-29 Listed $299,900 MIBOR as Distributed by MLS Grid

Property tax history

-6.4%/yr

Latest (2023): $412 · +2.0% YoY. Source: county tax records.