526 E Emerson St · Princeton, IN 47670

$40,000

2 bd · 1.5 ba · 1,350 sqft · SingleFamily public records · 7 Days on market

Built 1900 0.26 ac lot $30/sqft · 74% below area ↓ 52% since listing

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Why this score? — see what drove the B- 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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Livability +3.6/5.0
• Schools +2.7/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Investor Opportunity with Expansion Potential! This 3-bedroom, 1.5-bath home. Investors or buyers looking to build equity through renovation. Featuring 200 amp electrical service and a solid 12x24 metal outbuilding. Situated on a spacious 79 x 149 fully fenced lot, with unlimited potential. The home does require remodeling and is priced accordingly, making it an excellent opportunity for a fix-and-flip, rental investment, or owner-occupant willing to update over time. Unlock the potential this property has to offer!

Key facts

• Spacious backyard
• 12x26 pole barn
• Eat-in kitchen

Tags

• EAT-IN KITCHEN
• SPACIOUS BACKYARD
• 12X26 POLE BARN

Property features AI

Exterior

• Utilities: Public water; Public sewer
• Home design: Single-family residence; Site-built home; One-story
• Construction: Vinyl siding
• Exterior features: Level lot; Lot dimensions approximately 75 x 149 (0.26 acre)

Interior

• Kitchen: Dishwasher; Refrigerator; Electric range
• Bedrooms: Total of 5 rooms (includes bedrooms and living areas); Laundry located on the main level
• Bathrooms: 1 full bathroom; 1 half bathroom; 2 bathrooms on the main level
• Heating & cooling: Central air conditioning; Electric forced-air heating
• Interior features: Dishwasher; Refrigerator; Electric range; Washer; Dryer; Crawl space basement
• Laundry & utility: Washer and dryer; Main-level laundry

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath single-family listed at $40k.

Deal economics

• At list price, monthly cash flow is $557 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $40k).
• Cap rate 23.0% vs local median 4.6% in Princeton — 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 71/100 on livability (#131 in IN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: employment C-, amenities F, commute F.
• North Gibson School Corporation (rural): math 28% / reading 36% proficiency, ranked #223 of 301 in IN (top 74%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Princeton Comm Primary School (414 students, 53% FRL); Princeton Community Middle (math 23% / reading 37%, grade F, #208 of 330 statewide, top 64%, 431 students, 53% FRL); Princeton Community High School (math 22% / reading 57%, grade F, #221 of 369 statewide, top 63%, 618 students, 41% FRL).
• Market conditions: 138 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 167 units permitted in Gibson County in 2024 (68 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $277 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• Gibson County population projected to shrink 10% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $11k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• Only 7 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts; this cycle's ask has dropped $10k (20%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: property tax is 2.6% of price; built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $40,000

Questions for the listing agent

1. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
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: 2.75% ✓
• Cap rate: 22.99%
• Cash-on-cash: 59.63%
• DSCR: 3.65
• GRM: 3.0

CMA / ARV

• ARV (median comp): $153,164
• List price: $40,000
• Delta: -61.48%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
612 E Water St	0.20mi	3/2.0 (+1)	1,350 (0%)	3mo	$185,000	$137	81
622 N Gibson St	0.30mi	3/2.0 (+1)	1,410 (+4%)	0mo	$242,000	$172	71
715 E Oak St	0.30mi	3/2.0 (+1)	1,418 (+5%)	4mo	$200,000	$141	68
328 E Oak St	0.34mi	3/2.0 (+1)	1,416 (+5%)	2mo	$198,500	$140	67
318 N Seminary St	0.11mi	3/1.0 (+1)	1,198 (-11%)	4mo	$132,000	$110	66
209 S Gibson St	0.31mi	2/2.0	1,224 (-9%)	6mo	$150,500	$123	64
829 E State St	0.30mi	2/1.0	1,219 (-10%)	6mo	$70,382	$58	62
404 W Spruce St	0.58mi	2/2.0	1,413 (+5%)	1mo	$245,000	$173	62
309 S Stout St	0.34mi	3/2.0 (+1)	1,268 (-6%)	6mo	$142,500	$112	62
406 W Spruce St	0.59mi	2/1.5	1,242 (-8%)	2mo	$150,000	$121	57
927 N Hart St	0.59mi	2/1.0	1,278 (-5%)	6mo	$137,500	$108	57
709 S Race St	0.60mi	2/2.0	1,216 (-10%)	4mo	$164,900	$136	50

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: 58.4%
• Equity multiple: 3.59×
• Total profit: $29,005
• Equity at exit: $5,964

10-year hold

• IRR: 63.2%
• Equity multiple: 7.34×
• Total profit: $71,061
• Equity at exit: $3,458

Cash invested: $11,200 (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 47670

• Home prices YoY: -32.2%
• Active inventory: 138
• Price-to-rent: 3.0×

Monthly cashflow live

• Estimated rent: $1,102 medium
• Mortgage (P&I): −$210
• Tax from tax record: −$87 /mo · $1,047/yr
• Insurance: −$17
• HOA: −$0
• Vacancy / Maint / Mgmt: −$231
• Net cashflow: $557

Break-even live

Break-even rent $397

Max offer price $40,000

Occupancy floor 44%

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: $10,000
• Closing costs: $1,200
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
102 N Seminary St Princeton, IN	2.0	1.0	884	$995	$1.13	43d	1	0.17mi
220 W Garfield Ave Princeton, IN	2.0	1.0	1000	$1,700	$1.70	43d	2	1.10mi

Listing history 19 events

1. 2026-06-18
   days on market $40,000 Active 7 DOM
2. 2026-06-17
   days on market $40,000 Active 6 DOM
3. 2026-06-16
   days on market $40,000 Active 5 DOM
4. 2026-06-16
   price $40,000 Active 4 DOM
5. 2026-06-15
   days on market $50,000 Active 4 DOM
6. 2026-06-13
   days on market $50,000 Active 2 DOM
7. 2026-06-12
   pricedays on marketlisting id $50,000 Active 1 DOM
8. 2026-06-08
   days on market $59,000 Active 47 DOM
9. 2026-06-07
   days on market $59,000 Active 46 DOM
10. 2026-06-04
    days on market $59,000 Active 42 DOM
11. 2026-06-02
    days on market $59,000 Active 41 DOM
12. 2026-06-01
    days on market $59,000 Active 40 DOM
13. 2026-05-31
    days on market $59,000 Active 39 DOM
14. 2026-05-31
    days on market $59,000 Active 38 DOM
15. 2026-05-05
    price $74,000 521-char remark
16. 2026-04-21
    listed $79,000 Active 521-char remark
17. 2010-04-13
    soldstatus $60,000
18. 2009-09-01
    soldstatus $55,000
19. 2009-03-19
    soldstatus $83,000

ⓘ 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: $1,047 · $87/mo
• Projected year-2 tax: $1,047 · $87/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 5/10 Major 7 d/yr ≥106°F today · 20 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 3% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $13,219
• − Mortgage interest: −$2,241
• − Property taxes: −$1,047
• − Insurance: −$200
• − Repairs & maintenance: −$1,057
• − Management: −$1,057
• − Depreciation: −$1,164
• Taxable income: $6,452
• Est. tax owed @ 24.0%: −$1,549
• After-tax cash flow: $5,130/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: North Gibson School Corporation
• NCES district ID: 1807770
• Math proficiency: 28% ▼ -10.00%
• Reading proficiency: 36% ▼ -4.00%
• Median HH income: $44,595
• Composite: 27.32/100
• National rank: #6992
• State rank: #223 of 301 in IN

Livability — Princeton

• Score: 71/100
• State rank: #131
• US rank: #6840

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Princeton, IN
• Population (ZIP): 11,638

Population outlook (Gibson County) Hauer SSP2

• Today (2025): 33,671 people
• By 2030: 33,409 · -0.8%
• By 2040: 32,364 · -3.9%
• By 2050: 30,453 · -9.6%
• By 2075: 24,610 · -26.9%
• By 2100: 16,217 · -51.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (85%)
• Race & ethnicity: White 85% Black 5% Hispanic / Latino 4% Two or more races 4%
• Common ancestry: Lithuanian 2% Slovak 2% Serbian 1%
• Foreign-born: 3% · Canada
• Languages at home: 95% English-only · Spanish 3% Other Asian/Pacific 1%

Political lean MEDSL · Gibson

• 2024 margin: Solid R (+51.4) · D 23.4% · R 74.8% · Other 1.8%
• 2008→2024 swing: -38.2pp toward R · 2008: -13.2pp · 2024: -51.4pp
• All cycles: 2024: R+51.4 2020: R+48.2 2016: R+47.6 2012: R+31.0 2008: R+13.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -104.47%
• Current HPI: 219.932
• 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

-51.8% since first listed

8 events — show timeline

• 2026-06-15 Price Changed $40,000 IRMLS
• 2026-06-11 Listed $50,000 IRMLS
• 2026-05-27 Price Changed $59,000 IRMLS
• 2026-05-05 Price Changed $74,000 IRMLS
• 2026-04-21 Listed $79,000 IRMLS
• 2010-04-13 Sold (Public Records) $60,000 Public Records
• 2009-09-01 Sold (Public Records) $55,000 Public Records
• 2009-03-19 Sold (Public Records) $83,000 Public Records

Property tax history

+8.9%/yr

Latest (2024): $1,047 · +6.8% YoY. Source: county tax records.