2030 Mcdonald Ave · New Albany, IN 47150

$159,999

4 bd · 1.0 ba · 1,700 sqft · SingleFamily public records · 37 Days on market

Built 1937 5,619 sqft lot Est $252k · 36% under

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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 +28.0/30.0
• ARV discount +15.0/15.0
• DSCR +9.9/10.0
• 1% rule +6.4/10.0
• 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

Property under current lease as a daycare.

Key facts

• 5,619 sq ft lot
• Built 1937
• Listed 37 days

Property features AI

Exterior

• Parking: No garage
• Utilities: Connected public water; Public sewer
• Home design: Resale property; 1,700 above-grade finished area
• Exterior features: Paved road access; Residential zoning

Interior

• Kitchen: Microwave; Oven; Range; Refrigerator
• Bathrooms: 1 full bathroom
• Heating & cooling: Central air conditioning; Forced air heating
• Interior features: Main level primary bedroom; Utility room
• Laundry & utility: Laundry on main level

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $160k.

Deal economics

• At list price, monthly cash flow is $499 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $160k).
• Recommended offer: $155k (3.0% below list) — sets the bar for market timing.
• Cap rate 10.0% vs local median 3.9% 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); 278 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 weeks tenant-placement turnaround); 297 units permitted in Floyd County in 2024 (84 in 5+ unit buildings).
• This rent runs 35% of the median local income ($63k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

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.
• 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 $45k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 37 days — a 3% lower offer ($155k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1937 — 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 $155,199 (3.0% below list)

Questions for the listing agent

1. It's been on market 37 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 1937 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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: 1.14% ✓
• Cap rate: 10.04%
• Cash-on-cash: 13.37%
• DSCR: 1.59
• GRM: 7.3

CMA / ARV

• ARV (on-the-fly): $251,600
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
701 Cherokee Dr	0.56mi	4/1.5	1,728 (+2%)	3mo	$255,000	$148	67
1713 Twin Oaks Dr	0.41mi	3/2.0 (-1)	1,589 (-6%)	3mo	$235,000	$148	59
1801 Rita Dr	0.67mi	3/1.5 (-1)	1,722 (+1%)	2mo	$255,000	$148	58
1763 N Audubon Dr	0.50mi	4/1.0	1,536 (-10%)	5mo	$160,000	$104	57
15 Robin Rd	0.44mi	4/2.0	1,510 (-11%)	0mo	$253,000	$168	56
604 Navajo Dr	0.57mi	3/1.5 (-1)	1,636 (-4%)	4mo	$245,000	$150	56
1418 Vance Ave	0.47mi	4/2.5	1,536 (-10%)	5mo	$241,000	$157	52
629 Knob Hill Rd	0.48mi	3/1.5 (-1)	1,876 (+10%)	2mo	$230,000	$123	52
520 Drawbrook Cir	0.65mi	4/2.5	1,890 (+11%)	4mo	$200,000	$106	42
1464 South St	0.58mi	3/2.0 (-1)	1,510 (-11%)	4mo	$209,900	$139	42
627 Roseview Ter	0.51mi	3/1.5 (-1)	1,945 (+14%)	6mo	$272,500	$140	40
1655 Harriett Ct	0.74mi	3/2.0 (-1)	1,881 (+11%)	1mo	$270,000	$144	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 · 7.24% rent growth · sell at horizon

5-year hold

• IRR: 7.6%
• Equity multiple: 1.31×
• Total profit: $13,890
• Equity at exit: $23,856

10-year hold

• IRR: 20.0%
• Equity multiple: 2.99×
• Total profit: $88,997
• Equity at exit: $13,834

Cash invested: $44,800 (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: 278
• Price-to-rent: 7.3×

Monthly cashflow live

• Estimated rent: $1,820 medium
• Mortgage (P&I): −$839
• Tax from tax record: −$33 /mo · $397/yr
• Insurance: −$67
• HOA: −$0
• Vacancy / Maint / Mgmt: −$382
• Net cashflow: $499

Break-even live

Break-even rent $1,188

Max offer price $159,999

Occupancy floor 68%

Sensitivity live

Price	-10% $590	-5% $545	+0% $499	+5% $454	+10% $409
Rent	-10% $355	-5% $427	+0% $499	+5% $571	+10% $643
Rate	-1.0pp $580	-0.5pp $540	base $499	+0.5pp $458	+1.0pp $416

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: $40,000
• Closing costs: $4,800
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3133 Murr Ln New Albany, IN	3.0	2.0	1533	$1,850	$1.21	22d	1	0.93mi
621 Thomas St New Albany, IN	3.0	2.5	1510	$2,300	$1.52	18d	1	1.05mi
901 E Oak St New Albany, IN	3.0	1.0	1100	$1,350	$1.23	24d	1	1.38mi
212 Maevi Dr New Albany, IN	3.0	1.0	1251	$1,375	$1.10	22d	1	1.43mi

Listing history 18 events

1. 2026-06-21
   days on market $159,999 Active 37 DOM
2. 2026-06-18
   days on market $159,999 Active 34 DOM
3. 2026-06-17
   days on market $159,999 Active 33 DOM
4. 2026-06-16
   days on market $159,999 Active 32 DOM
5. 2026-06-15
   days on market $159,999 Active 31 DOM
6. 2026-06-13
   pricedays on market $159,999 Active 29 DOM
7. 2026-06-10
   days on market $164,999 Active 26 DOM
8. 2026-06-09
   days on market $164,999 Active 25 DOM
9. 2026-06-08
   days on market $164,999 Active 24 DOM
10. 2026-06-07
    days on market $164,999 Active 23 DOM
11. 2026-06-03
    days on market $164,999 Active 19 DOM
12. 2026-06-02
    days on market $164,999 Active 18 DOM
13. 2026-06-01
    days on market $164,999 Active 17 DOM
14. 2026-05-31
    days on market $164,999 Active 16 DOM
15. 2026-05-15
    listed $169,999 Active
16. 2025-02-10
    price $139,999
17. 2025-01-17
    price $149,999
18. 2024-11-30
    price $159,999

ⓘ 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: $397 · $33/mo
• Projected year-2 tax: $878 · $73/mo
• Expected delta: +$482/yr (+$40/mo · 121.4%)

ⓘ 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 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: $21,843
• − Mortgage interest: −$8,962
• − Property taxes: −$397
• − Insurance: −$800
• − Repairs & maintenance: −$1,747
• − Management: −$1,747
• − Depreciation: −$4,655
• Taxable income: $3,534
• Est. tax owed @ 24.0%: −$848
• After-tax cash flow: $5,142/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

+6.3% since first listed

4 events — show timeline

• 2026-05-15 Listed $169,999 SIRA
• 2025-02-10 Price Changed $139,999 SIRA
• 2025-01-17 Price Changed $149,999 SIRA
• 2024-11-30 Price Changed $159,999 SIRA

Property tax history

+1.0%/yr

Latest (2024): $397 · -5.5% YoY. Source: county tax records.