1340 Beeler St · New Albany, IN 47150

$64,900

1 bd · 1.0 ba · 780 sqft · SingleFamily public records · 55 Days on market

Built 1929 4,443 sqft lot ↓ 7% 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
• DSCR +10.0/10.0
• 1% rule +9.1/10.0
• ARV discount +7.5/15.0
• Rent growth +4.3/5.0
• Schools +4.2/10.0
• Livability +3.7/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Great opportunity for investors! Nice size home with great cash flow opportunity at this price with a partial basement! Conveniently located off Vincennes St and close to Downtown New Albany! Current tenant pays $900 per month. All square footage and information are deemed to be accurate but buyers to verify. Tenants rights apply. Current tenants are month to month. Sold "As Is. "

Key facts

• Partial basement
• 4,443 sq ft lot
• Built 1929

Tags

• PARTIAL BASEMENT
• CLOSE TO DOWNTOWN NEW ALBANY

Property features AI

Exterior

• Utilities: Public sewer; Public water connected
• Home design: Single-story home; Frame construction
• Construction: Frame construction; Below-grade unfinished area (basement) of 390; Above-grade finished area of 780
• Exterior features: Paved road access; Residential zoning

Interior

• Kitchen: Kitchen on the first floor
• Bedrooms: Bedroom on the first floor
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating
• Interior features: Unfinished basement

🏷️ Possibly a rental listed for sale. The $64,900 price doesn't fit this home's estimated sale value (~$141,180) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath single-family listed at $65k.

Deal economics

• At list price, monthly cash flow is $233 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($916 rent vs $65k).
• Recommended offer: $63k (3.0% below list) — sets the bar for market timing.
• Cap rate 11.6% vs local median 3.8% in New Albany — 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 73/100 on livability (#100 in IN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety B; Watch: commute C-, employment D+, schools D.
• New Albany-Floyd County Consolidated Schools (suburban): math 46% / reading 50% proficiency, ranked #68 of 301 in IN (top 23%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising fast (+7.2%/yr); 269 active listings in the ZIP; 26 comparable units currently listed for rent nearby; rentals at typical pace (median 20d on market — plan ~3-4 weeks tenant-placement turnaround); 297 units permitted in Floyd County in 2024 (84 in 5+ unit buildings).
• This rent is only 18% of the median local income ($63k/yr) — well below the 30% rent-burden line; pricing power to push rent on renewal without tenant pushback.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $449 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Floyd County population projected at +10% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (-3.0% appreciation + 7.2% rent growth), your $18k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 55 days — a 3% lower offer ($63k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: flood insurance adds $56/mo; built in 1929 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk; extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $62,953 (3.0% below list)

Questions for the listing agent

1. It's been on market 55 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1929 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
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: 1.41% ✓
• Cap rate: 11.64%
• Cash-on-cash: 19.08%
• DSCR: 1.85
• GRM: 5.9

CMA / ARV

• ARV (on-the-fly): $141,180
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1016 Clark St	0.11mi	2/1.0 (+1)	760 (-3%)	8mo	$159,900	$210	79
1102 Beeler St	0.22mi	2/1.0 (+1)	752 (-4%)	1mo	$158,000	$210	78
1512 Locust St	0.11mi	2/1.0 (+1)	832 (+7%)	12mo	$124,900	$150	69
1516 Charlestown Rd	0.31mi	2/1.0 (+1)	832 (+7%)	3mo	$186,900	$225	67
1104 Ekin Ave	0.25mi	2/1.0 (+1)	841 (+8%)	6mo	$51,000	$61	65
525 E 8th St	0.46mi	2/1.0 (+1)	826 (+6%)	1mo	$149,900	$181	63
1521 Ekin Ave	0.13mi	2/1.0 (+1)	896 (+15%)	2mo	$162,000	$181	62
1825 Center St	0.61mi	2/1.0 (+1)	776 (-0%)	4mo	$115,000	$148	62
1748 E Spring St	0.51mi	1/1.0	720 (-8%)	12mo	$100,000	$139	54
1131 Burton Ave	0.52mi	2/2.0 (+1)	854 (+10%)	4mo	$156,210	$183	47
2007 Culbertson Ave	0.58mi	2/1.0 (+1)	872 (+12%)	12mo	$92,000	$106	38
97 Galt St	0.74mi	2/1.0 (+1)	856 (+10%)	8mo	$145,000	$169	37

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 · 7.24% rent growth · sell at horizon

5-year hold

• IRR: 11.2%
• Equity multiple: 1.47×
• Total profit: $8,467
• Equity at exit: $9,677

10-year hold

• IRR: 23.6%
• Equity multiple: 3.47×
• Total profit: $44,936
• Equity at exit: $5,611

Cash invested: $18,172 (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 47150

• Rents YoY: 7.2%
• Active inventory: 269
• Price-to-rent: 5.9×

Monthly cashflow live

• Estimated rent: $916 high
• Mortgage (P&I): −$340
• Tax from tax record: −$68 /mo · $811/yr
• Insurance: −$27
• Flood insurance flood zone: −$56 /mo · $666/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$192
• Net cashflow: $233

Break-even live

Break-even rent $621

Max offer price $64,900

Occupancy floor 70%

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: $16,225
• Closing costs: $1,947
• Reserves months: —
• Total cash needed: —

Rent comps 26 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1409 Chartres St Unit 2 New Albany, IN	1.0	1.0	650	$750	$1.15	14d	1	0.14mi
1409 Chartres St Unit 2 New Albany, IN	1.0	1.0	700	$750	$1.07	23d	1	0.14mi
812 Culbertson Ave New Albany, IN	2.0	1.0	1000	$1,095	$1.09	21d	1	0.34mi
508 Vincennes St New Albany, IN	1.0	1.0	750	$850	$1.13	23d	1	0.35mi
905 E Elm St New Albany, IN	1.0–2.0	1.0	937	$765	$0.82	23d	1	0.41mi
1307 E Market St #1 New Albany, IN	2.0	1.0	936	$1,190	$1.27	16d	1	0.52mi
1307 E Market St #2 New Albany, IN	1.0	1.0	804	$975	$1.21	15d	1	0.52mi
1637 E Market St New Albany, IN	1.0	1.0	643	$1,066	$1.66	3d	1	0.57mi
608 E Spring St Unit 2 New Albany, IN	2.0	2.0	1100	$1,195	$1.09	3d	1	0.62mi
608 E Spring St Unit 2 New Albany, IN	2.0	2.0	1100	$1,195	$1.09	23d	1	0.62mi
121 E 14th St Unit 2 New Albany, IN	1.0	1.0	650	$825	$1.27	20d	1	0.65mi
2032 Culbertson Ave Unit 6 New Albany, IN	1.0	1.0	550	$695	$1.26	3d	1	0.66mi
1201 Dewey St #3 New Albany, IN	1.0	1.0	700	$775	$1.11	16d	1	0.66mi
2121 Culbertson Ave Unit D New Albany, IN	1.0	1.0	650	$750	$1.15	23d	1	0.71mi
1316 Roosevelt Ave Unit 11 New Albany, IN	2.0	1.5	700	$950	$1.36	23d	1	0.71mi
309 E Spring St Unit 310-106 New Albany, IN	2.0	2.0	1005	$1,250	$1.24	16d	1	0.72mi
309 E Spring St Unit 310-203 New Albany, IN	2.0	2.5	1005	$1,250	$1.24	3d	1	0.72mi
1940 Center St Unit 2 New Albany, IN	1.0	1.0	650	$725	$1.12	21d	1	0.73mi
2239 Charlestown Rd Apt 104 New Albany, IN	1.0	1.0	842	$1,100	$1.31	14d	1	0.76mi
1108 State St New Albany, IN	2.0	1.0	982	$1,150	$1.17	21d	1	0.80mi
1808 Bono Rd New Albany, IN	1.0–2.0	1.0–2.0	1000	$795	$0.80	3d	1	0.98mi
1226 Naghel St Unit 2 New Albany, IN	1.0	1.0	600	$725	$1.21	23d	1	1.14mi
1226 Naghel St Unit 2 New Albany, IN	1.0	1.0	650	$725	$1.12	21d	1	1.14mi
1107 Silverton Ct Unit 1 Clarksville, IN	1.0	1.0	650	$795	$1.22	21d	1	1.28mi
1429 Slate Run Rd New Albany, IN	1.0–2.0	1.0–2.0	1200	$1,155	$0.96	14d	4	1.36mi
2676 Grant Line Rd New Albany, IN	1.0–2.0	1.0–2.0	828	$948	$1.14	1d	12	1.36mi

Listing history 17 events

1. 2026-06-18
   days on market $64,900 Active 55 DOM
2. 2026-06-17
   remarks 383-char remark
3. 2026-06-17
   days on market $64,900 Active 54 DOM
4. 2026-06-16
   days on market $64,900 Active 53 DOM
5. 2026-06-15
   days on market $64,900 Active 52 DOM
6. 2026-06-13
   days on market $64,900 Active 50 DOM
7. 2026-06-10
   days on market $64,900 Active 47 DOM
8. 2026-06-09
   days on market $64,900 Active 46 DOM
9. 2026-06-08
   days on market $64,900 Active 45 DOM
10. 2026-06-07
    days on market $64,900 Active 44 DOM
11. 2026-06-03
    days on market $64,900 Active 40 DOM
12. 2026-06-02
    days on market $64,900 Active 39 DOM
13. 2026-06-01
    days on market $64,900 Active 38 DOM
14. 2026-05-31
    days on market $64,900 Active 37 DOM
15. 2026-04-24
    listed $69,900 Active
16. 2025-01-29
    price $74,899
17. 2024-10-02
    price $74,900

ⓘ 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: $811 · $68/mo
• Projected year-2 tax: $811 · $68/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 7/10 Severe FEMA zone X (unshaded) · 77% 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 2% 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: $10,997
• − Mortgage interest: −$3,635
• − Property taxes: −$811
• − Insurance: −$991
• − Repairs & maintenance: −$880
• − Management: −$880
• − Depreciation: −$1,888
• Taxable income: $1,912
• Est. tax owed @ 24.0%: −$459
• After-tax cash flow: $2,342/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: New Albany-Floyd County Consolidated Schools
• NCES district ID: 1807410
• Math proficiency: 46% ▼ -4.00%
• Reading proficiency: 50% ▼ -3.00%
• Median HH income: $54,709
• Composite: 41.57/100
• National rank: #3441
• State rank: #68 of 301 in IN

Livability — New Albany

• Score: 73/100
• State rank: #100
• US rank: #5454

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: New Albany, IN
• County: Floyd County · 49,144 people
• City population: 49,144
• Metro: Louisville/Jefferson County, KY-IN
• Population (ZIP): 49,144
• Household income: $62,820
• Rent vs Own: 37.7% rent · 62.3% own
• Severe rent burden: 1737.0

Population outlook (Floyd County) Hauer SSP2

• Today (2025): 82,092 people
• By 2030: 84,384 · +2.8%
• By 2040: 87,919 · +7.1%
• By 2050: 89,958 · +9.6%
• By 2075: 94,159 · +14.7%
• By 2100: 91,907 · +12.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (82%)
• Race & ethnicity: White 82% Black 8% Two or more races 6% Hispanic / Latino 5% Asian 1%
• Common ancestry: Italian 3% Slovak 2% Lithuanian 2%
• Foreign-born: 3% · Canada
• Languages at home: 96% English-only · Spanish 2% Other Asian/Pacific 1%

Political lean MEDSL · Floyd

• 2024 margin: R (+15.5) · D 41.4% · R 56.9% · Other 1.7%
• 2008→2024 swing: -5.4pp toward R · 2008: -10.1pp · 2024: -15.5pp
• All cycles: 2024: R+15.5 2020: R+14.1 2016: R+20.1 2012: R+14.3 2008: R+10.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -185.20%
• Current HPI: 206.7738
• Rent YoY: ▲ 7.24%
• Metro: Louisville/Jefferson County, KY-IN
• 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

-6.7% since first listed

3 events — show timeline

• 2026-04-24 Listed $69,900 SIRA
• 2025-01-29 Price Changed $74,899 SIRA
• 2024-10-02 Price Changed $74,900 SIRA

Property tax history

+2.4%/yr

Latest (2024): $811 · -9.9% YoY. Source: county tax records.