22215 Greenville Borden Rd · Borden, IN 47106

$279,900

3 bd · 1.0 ba · 1,650 sqft · SingleFamily · 38 Days on market

Built 1934 2.00 ac lot

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Why this score? — see what drove the D 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).

• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• Cash flow +7.2/30.0
• Schools +5.0/10.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +2.0/10.0
• DSCR +1.4/10.0

Listing remarks

Nestled in the scenic countryside of Borden, 22215 Greenville Borden Rd offers the perfect combination of peaceful rural living and everyday convenience. This home is only 7 MINUTES from the well known HUBER FAMILY FARM! The Borden High School is also only 7 MINUTES away from the property! Situated on a spacious 2 ACRE lot, this property provides plenty of room to relax, entertain, and enjoy the beauty of Southern Indiana. The home features comfortable living spaces, generously sized bedrooms, and a functional layout designed for both daily living and gatherings with family and friends. Special features include a large open yard layout ideal for outdoor activities, beautiful country views,

Key facts

• Ample parking
• Large open yard
• Private retreat

Tags

• 2 ACRE LOT
• LARGE OPEN YARD
• AMPLE PARKING
• PRIVATE RETREAT
• FLEXIBILITY TO FIT LIFESTYLE

Property features AI

Exterior

• Parking: Detached 2-car garage
• Utilities: Public water connection; Septic tank sewer
• Home design: Single-story home; Resale property
• Construction: Shingle roof; About 1,650 above-grade finished area
• Exterior features: Surveyed 2-acre residential lot

Interior

• Bathrooms: 1 full bathroom
• Heating & cooling: Central air conditioning
• Interior features: Crawl space basement
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $280k.

Deal economics

• At list price, monthly cash flow is $-386 ($-5k/yr) — negative.
• To cash-flow at today's rent, offer at most $224k (20.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $196k (30.0% below list).
• Recommended offer: $196k (30.0% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 61/100 on livability (#507 in IN) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: employment D+, amenities F, commute F.
• Market conditions: 26 active listings in the ZIP; 911 units permitted in Clark County in 2024 (133 in 5+ unit buildings).

Forward outlook

• In year one you build about $30k of equity ($2k loan paydown + $28k appreciation (10.0% local appreciation)).
• Clark County population projected at +17% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• By year 2, paydown + projected appreciation supports a ~$48k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 38 days — a 3% lower offer ($272k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1934 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $195,991 (30.0% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 38 days. Have you received any prior offers? Is the seller open to a 30% concession, seller financing, or rate buy-down credit?
3. Built in 1934 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
6. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
7. 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.
8. 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.
9. 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: 0.70% ✗
• Cap rate: 4.64%
• Cash-on-cash: -5.91%
• DSCR: 0.74
• GRM: 11.9

CMA / ARV

No comps found within radius.

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 20.1%
• Equity multiple: 2.63×
• Total profit: $127,886
• Equity at exit: $252,156

10-year hold

• IRR: 18.4%
• Equity multiple: 6.05×
• Total profit: $395,995
• Equity at exit: $543,784

Cash invested: $78,372 (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 47106

• Home prices YoY: 6.7%
• Active inventory: 26
• Price-to-rent: 11.9×

Monthly cashflow live

• Estimated rent: $1,960 medium
• Mortgage (P&I): −$1,468
• Tax est. 1.5%: −$350 /mo · $4,198/yr
• Insurance: −$117
• HOA: −$0
• Vacancy / Maint / Mgmt: −$412
• Net cashflow: $-386

Break-even live

Break-even rent $2,449

Max offer price $224,046

Occupancy floor —

Sensitivity live

Price	-10% $-193	-5% $-289	+0% $-386	+5% $-483	+10% $-579
Rent	-10% $-541	-5% $-463	+0% $-386	+5% $-309	+10% $-231
Rate	-1.0pp $-245	-0.5pp $-315	base $-386	+0.5pp $-459	+1.0pp $-532

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: $69,975
• Closing costs: $8,397
• Reserves months: —
• Total cash needed: —

Listing history 16 events

1. 2026-06-21
   days on market $279,900 Active 38 DOM
2. 2026-06-19
   price $279,900 Active 35 DOM
3. 2026-06-18
   days on market $289,900 Active 35 DOM
4. 2026-06-17
   days on market $289,900 Active 34 DOM
5. 2026-06-16
   days on market $289,900 Active 33 DOM
6. 2026-06-15
   days on market $289,900 Active 32 DOM
7. 2026-06-13
   days on market $289,900 Active 30 DOM
8. 2026-06-10
   days on market $289,900 Active 27 DOM
9. 2026-06-09
   days on market $289,900 Active 26 DOM
10. 2026-06-08
    days on market $289,900 Active 25 DOM
11. 2026-06-07
    days on market $289,900 Active 24 DOM
12. 2026-06-03
    days on market $289,900 Active 20 DOM
13. 2026-06-02
    days on market $289,900 Active 19 DOM
14. 2026-06-01
    days on market $289,900 Active 18 DOM
15. 2026-05-31
    days on market $289,900 Active 17 DOM
16. 2026-05-14
    listed $289,900 Active

ⓘ 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 4/10 Moderate 7 d/yr ≥104°F today · 19 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: $23,519
• − Mortgage interest: −$15,679
• − Property taxes: −$4,198
• − Insurance: −$1,400
• − Repairs & maintenance: −$1,882
• − Management: −$1,882
• − Depreciation: −$8,143
• Taxable loss: −$9,663
• Est. tax savings @ 24.0%: +$2,319
• After-tax cash flow: $-2,313/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)

No district data.

Livability — Borden

• Score: 61/100
• State rank: #507
• US rank: #17982

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 4,583

Population outlook (Clark County) Hauer SSP2

• Today (2025): 126,401 people
• By 2030: 131,455 · +4.0%
• By 2040: 140,471 · +11.1%
• By 2050: 147,677 · +16.8%
• By 2075: 161,702 · +27.9%
• By 2100: 164,078 · +29.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (95%)
• Race & ethnicity: White 95% Two or more races 2%
• Common ancestry: Lithuanian 2% Serbian 2% Italian 2%
• Foreign-born: 0%

Political lean MEDSL · Clark

• 2024 margin: Strong R (+20.4) · D 38.9% · R 59.3% · Other 1.8%
• 2008→2024 swing: -13.3pp toward R · 2008: -7.1pp · 2024: -20.4pp
• All cycles: 2024: R+20.4 2020: R+18.3 2016: R+22.0 2012: R+9.9 2008: R+7.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 21.50%
• Current HPI: 344.4
• 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

1 event — show timeline

• 2026-05-14 Listed $289,900 SIRA