608 S Broadway St · Greensburg, IN 47240

$129,900

2 bd · 1.0 ba · 1,022 sqft · SingleFamily public records · 40 Days on market

Built 1920 9,275 sqft lot $127/sqft · 17% below area Est $156k · 17% 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 +24.8/30.0
• ARV discount +15.0/15.0
• DSCR +8.0/10.0
• 1% rule +5.3/10.0
• Schools +3.8/10.0
• Livability +3.5/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Take a look at this adorable 2 bedroom 1 bath! Conveniently located within walking distance of downtown Greensburg. This home offers a spacious backyard and a wonderful kitchen/dining combo! Covered front porch provides comfort in all weather. Don't miss out!

Key facts

• 9,275 sq ft lot
• Built 1920
• Listed 40 days

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $130k.

Deal economics

• At list price, monthly cash flow is $275 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $130k).
• Recommended offer: $126k (3.0% below list) — sets the bar for market timing.
• Cap rate 8.8% 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-, schools D+, amenities 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.
• Market conditions: 157 active listings in the ZIP; 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 $898 of loan paydown is wiped out by about $4k 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.

Negotiation context

• It's been on market 40 days — a 3% lower offer ($126k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 15y ago; this cycle's ask has dropped $10k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $104k; 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 $126,003 (3.0% below list)

Questions for the listing agent

1. It's been on market 40 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 1920 — 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: 1.03% ✓
• Cap rate: 8.83%
• Cash-on-cash: 9.08%
• DSCR: 1.40
• GRM: 8.1

CMA / ARV

• ARV (median comp): $156,293
• List price: $129,900
• Delta: -16.89%
• 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
116 W Forsythe St	0.17mi	3/1.0 (+1)	1,012 (-1%)	3mo	$147,000	$145	83
514 S Broadway St	0.05mi	2/1.0	936 (-8%)	9mo	$155,000	$166	76
146 W Forsythe St	0.16mi	2/1.0	891 (-13%)	4mo	$145,000	$163	68
334 S Monfort St	0.18mi	2/1.0	896 (-12%)	7mo	$16,000	$18	65
409 N Carver St	0.72mi	2/1.0	1,024 (+0%)	8mo	$154,000	$150	59
319 N Ireland St	0.61mi	2/1.0	951 (-7%)	2mo	$120,000	$126	58
615 E Mobley Dr	0.58mi	3/2.0 (+1)	1,056 (+3%)	2mo	$200,000	$189	57
601 W Washington St	0.56mi	2/1.0	893 (-13%)	3mo	$155,000	$174	50
921 S Creek Dr E	0.41mi	3/2.0 (+1)	1,152 (+13%)	4mo	$258,000	$224	48
319 N Carver St	0.67mi	2/1.0	896 (-12%)	2mo	$130,000	$145	46
903 S Creek Dr E	0.39mi	3/2.0 (+1)	1,170 (+14%)	5mo	$225,000	$192	44
408 N Carver St	0.71mi	3/1.0 (+1)	1,174 (+15%)	0mo	$61,500	$52	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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -2.6%
• Equity multiple: 0.90×
• Total profit: $-3,579
• Equity at exit: $19,369

10-year hold

• IRR: 7.0%
• Equity multiple: 1.53×
• Total profit: $19,237
• Equity at exit: $11,231

Cash invested: $36,372 (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: 157
• Price-to-rent: 8.1×

Monthly cashflow live

• Estimated rent: $1,337 medium
• Mortgage (P&I): −$681
• Tax from tax record: −$46 /mo · $552/yr
• Insurance: −$54
• HOA: −$0
• Vacancy / Maint / Mgmt: −$281
• Net cashflow: $275

Break-even live

Break-even rent $989

Max offer price $129,900

Occupancy floor 74%

Sensitivity live

Price	-10% $349	-5% $312	+0% $275	+5% $238	+10% $202
Rent	-10% $169	-5% $222	+0% $275	+5% $328	+10% $381
Rate	-1.0pp $341	-0.5pp $308	base $275	+0.5pp $241	+1.0pp $207

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: $32,475
• Closing costs: $3,897
• Reserves months: —
• Total cash needed: —

Listing history 25 events

1. 2026-05-04
   price $133,900 259-char remark

   Show marketing remark (259 chars)

   Take a look at this adorable 2 bedroom 1 bath! Conveniently located within walking distance of downtown Greensburg. This home offers a spacious backyard and a wonderful kitchen/dining combo! Covered front porch provides comfort in all weather. Don't miss out!

2. 2026-04-11
   listed $139,500 Active 259-char remark

   Show marketing remark (259 chars)

   Take a look at this adorable 2 bedroom 1 bath! Conveniently located within walking distance of downtown Greensburg. This home offers a spacious backyard and a wonderful kitchen/dining combo! Covered front porch provides comfort in all weather. Don't miss out!

3. 2026-04-09
   historical
4. 2026-03-11
   status Active
5. 2026-02-02
   status Pending
6. 2026-01-19
   price $127,900
7. 2026-01-09
   status Active
8. 2026-01-09
   price $129,900
9. 2025-12-11
   historical
10. 2025-09-11
    price $119,499
11. 2025-08-29
    price $124,999
12. 2025-08-16
    price $129,999
13. 2025-08-05
    price $134,999
14. 2025-07-28
    price $139,999
15. 2025-07-21
    listed $144,999 Active
16. 2024-12-20
    soldstatus $104,000 Closed
17. 2024-11-04
    status Pending
18. 2024-10-11
    price $104,000
19. 2024-09-23
    price $114,500
20. 2024-09-17
    listed $119,500 Active
21. 2011-06-02
    soldstatus $62,500
22. 2011-05-27
    historical
23. 2011-05-27
    soldstatus $62,500
24. 2011-01-13
    listed $64,900
25. 2010-09-24
    soldstatus $21,251

ⓘ 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: $552 · $46/mo
• Projected year-2 tax: $828 · $69/mo
• Expected delta: +$276/yr (+$23/mo · 50.1%)

ⓘ 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 4/10 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: $16,047
• − Mortgage interest: −$7,276
• − Property taxes: −$552
• − Insurance: −$650
• − Repairs & maintenance: −$1,284
• − Management: −$1,284
• − Depreciation: −$3,779
• Taxable income: $1,223
• Est. tax owed @ 24.0%: −$293
• After-tax cash flow: $3,008/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

+530.1% since first listed

25 events — show timeline

• 2026-05-04 Price Changed $133,900 MIBOR as Distributed by MLS Grid
• 2026-04-11 Listed $139,500 MIBOR as Distributed by MLS Grid
• 2026-04-09 Listing Removed — MIBOR as Distributed by MLS Grid
• 2026-03-11 Relisted — MIBOR as Distributed by MLS Grid
• 2026-02-02 Pending — MIBOR as Distributed by MLS Grid
• 2026-01-19 Price Changed $127,900 MIBOR as Distributed by MLS Grid
• 2026-01-09 Relisted — MIBOR as Distributed by MLS Grid
• 2026-01-09 Price Changed $129,900 MIBOR as Distributed by MLS Grid
• 2025-12-11 Listing Removed — MIBOR as Distributed by MLS Grid
• 2025-09-11 Price Changed $119,499 MIBOR as Distributed by MLS Grid
• 2025-08-29 Price Changed $124,999 MIBOR as Distributed by MLS Grid
• 2025-08-16 Price Changed $129,999 MIBOR as Distributed by MLS Grid
• 2025-08-05 Price Changed $134,999 MIBOR as Distributed by MLS Grid
• 2025-07-28 Price Changed $139,999 MIBOR as Distributed by MLS Grid
• 2025-07-21 Listed $144,999 MIBOR as Distributed by MLS Grid
• 2024-12-20 Sold (MLS) $104,000 MIBOR as Distributed by MLS Grid
• 2024-11-04 Pending — MIBOR as Distributed by MLS Grid
• 2024-10-11 Price Changed $104,000 MIBOR as Distributed by MLS Grid
• 2024-09-23 Price Changed $114,500 MIBOR as Distributed by MLS Grid
• 2024-09-17 Listed $119,500 MIBOR as Distributed by MLS Grid
• 2011-06-02 Sold (Public Records) $62,500 Public Records
• 2011-05-27 Listing Removed — MIBOR as Distributed by MLS Grid
• 2011-05-27 Sold (MLS) $62,500 MIBOR as Distributed by MLS Grid
• 2011-01-13 Listed $64,900 MIBOR as Distributed by MLS Grid
• 2010-09-24 Sold (Public Records) $21,251 Public Records

Property tax history

-6.3%/yr

Latest (2023): $552 · +21.2% YoY. Source: county tax records.