1011 Beech St · Connersville, IN 47331

$49,000

3 bd · 1.0 ba · 1,184 sqft · SingleFamily public records · 48 Days on market

Built 1946 6,534 sqft lot $41/sqft · 42% below area Est $84k · 42% under ↓ 11% 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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +3.2/5.0
• Schools +2.9/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +2.3/10.0

Listing remarks MLS

Tenant pays $1100 monthly including utilities

Key facts

• 6,534 sq ft lot
• Built 1946
• Listed 48 days

Property features AI

Exterior

• Parking: Asphalt driveway/parking
• Utilities: Public water; Public sewer; Cable available
• Home design: Single-family residence; One-story
• Construction: Frame construction
• Exterior features: Deck; Level lot

Interior

• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating
• Interior features: Electric water heater; Crawl space basement; Total of 5 rooms

🏷️ Possibly a rental listed for sale. The $49,000 price doesn't fit this home's estimated sale value (~$84,170) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $49k.

Deal economics

• At list price, monthly cash flow is $349 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($900 rent vs $49k).
• Recommended offer: $48k (3.0% below list) — sets the bar for market timing.
• Cap rate 14.8% vs local median 4.9% in Connersville — 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 65/100 on livability (#313 in IN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: health & safety C-, crime D+, amenities F.
• Fayette County School Corporation (town): math 29% / reading 40% proficiency, ranked #206 of 301 in IN (top 68%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Grandview Elementary School (math 27% / reading 37%, grade F, #652 of 994 statewide, top 68%, 539 students, 71% FRL).
• Market conditions: 171 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 20 units permitted in Fayette County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $339 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• Fayette County population projected at -26% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $14k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 48 days — a 3% lower offer ($48k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $30k; list at $49k implies a 63% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1946 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $47,530 (3.0% below list)

Questions for the listing agent

1. It's been on market 48 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 1946 — 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. Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
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: 1.84% ✓
• Cap rate: 14.83%
• Cash-on-cash: 30.50%
• DSCR: 2.36
• GRM: 4.5

CMA / ARV

• ARV (median comp): $84,170
• List price: $49,000
• Delta: -41.78%
• 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
916 W 10th St	0.04mi	2/2.0 (-1)	1,100 (-7%)	4mo	$98,000	$89	74
610 W 9th St	0.28mi	3/1.0	1,078 (-9%)	1mo	$31,000	$29	71
803 Mulberry St	0.32mi	3/1.0	1,303 (+10%)	6mo	$39,000	$30	64
1317 W 6th St	0.39mi	3/2.0	1,092 (-8%)	6mo	$170,000	$156	60
1328 W 6th St	0.34mi	3/1.0	1,300 (+10%)	10mo	$135,000	$104	60
502 10th St	0.35mi	2/1.0 (-1)	1,104 (-7%)	13mo	$79,000	$72	57
601 Matthew Ave	0.38mi	3/1.0	1,092 (-8%)	16mo	$138,000	$126	56
1532 Indian Spgs	0.57mi	3/1.5	1,081 (-9%)	1mo	$189,000	$175	56
1423 Memorial Dr	0.32mi	3/2.0	1,040 (-12%)	10mo	$145,900	$140	52
523 Beech St	0.33mi	4/2.0 (+1)	1,352 (+14%)	4mo	$148,000	$109	49
640 W 17th St	0.66mi	3/1.5	1,032 (-13%)	1mo	$35,000	$34	45
417 W 15th St	0.69mi	2/1.0 (-1)	1,317 (+11%)	9mo	$60,250	$46	36

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: 25.2%
• Equity multiple: 2.04×
• Total profit: $14,297
• Equity at exit: $7,306

10-year hold

• IRR: 33.0%
• Equity multiple: 4.00×
• Total profit: $41,162
• Equity at exit: $4,237

Cash invested: $13,720 (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 47331

• Home prices YoY: -2.1%
• Active inventory: 171
• Price-to-rent: 4.5×

Monthly cashflow live

• Estimated rent: $900 medium
• Mortgage (P&I): −$257
• Tax from tax record: −$85 /mo · $1,019/yr
• Insurance: −$20
• HOA: −$0
• Vacancy / Maint / Mgmt: −$189
• Net cashflow: $349

Break-even live

Break-even rent $459

Max offer price $49,000

Occupancy floor 56%

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: $12,250
• Closing costs: $1,470
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
309 W 11th St Connersville, IN	2.0	1.0	984	$900	$0.91	24d	1	0.60mi

Listing history 20 events

1. 2026-06-18
   days on market $49,000 Active 48 DOM
2. 2026-06-17
   days on market $49,000 Active 47 DOM
3. 2026-06-16
   days on market $49,000 Active 46 DOM
4. 2026-06-15
   days on market $49,000 Active 45 DOM
5. 2026-06-13
   days on market $49,000 Active 43 DOM
6. 2026-06-12
   days on market $49,000 Active 42 DOM
7. 2026-06-09
   days on market $49,000 Active 39 DOM
8. 2026-06-08
   days on market $49,000 Active 38 DOM
9. 2026-06-07
   days on market $49,000 Active 37 DOM
10. 2026-06-07
    days on market $49,000 Active 36 DOM
11. 2026-06-04
    days on market $49,000 Active 33 DOM
12. 2026-06-02
    days on market $49,000 Active 32 DOM
13. 2026-06-01
    days on market $49,000 Active 31 DOM
14. 2026-05-31
    days on market $49,000 Active 30 DOM
15. 2026-05-31
    days on market $49,000 Active 29 DOM
16. 2026-04-24
    listed $49,000 Active

    Show marketing remark (45 chars)

    Tenant pays $1100 monthly including utilities

17. 2026-04-24
    listed $49,000 Active 45-char remark

    Show marketing remark (45 chars)

    Tenant pays $1100 monthly including utilities

18. 2025-04-29
    soldstatus $30,000
19. 2011-05-09
    soldstatus $7,300
20. 2006-02-09
    soldstatus $55,000

ⓘ 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: $1,019 · $85/mo
• Projected year-2 tax: $1,019 · $85/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 3/10 Moderate 7 d/yr ≥101°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 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $10,800
• − Mortgage interest: −$2,745
• − Property taxes: −$1,019
• − Insurance: −$245
• − Repairs & maintenance: −$864
• − Management: −$864
• − Depreciation: −$1,425
• Taxable income: $3,638
• Est. tax owed @ 24.0%: −$873
• After-tax cash flow: $3,311/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: Fayette County School Corporation
• NCES district ID: 1803510
• Math proficiency: 29% ▼ -11.00%
• Reading proficiency: 40% ▼ -8.00%
• Median HH income: $38,669
• Composite: 28.81/100
• National rank: #6659
• State rank: #206 of 301 in IN

Livability — Connersville

• Score: 65/100
• State rank: #313
• US rank: #12417

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Connersville, IN
• Population (ZIP): 22,769

Population outlook (Fayette County) Hauer SSP2

• Today (2025): 21,758 people
• By 2030: 20,673 · -5.0%
• By 2040: 18,335 · -15.7%
• By 2050: 16,056 · -26.2%
• By 2075: 11,030 · -49.3%
• By 2100: 6,800 · -68.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (94%)
• Race & ethnicity: White 94% Two or more races 4% Hispanic / Latino 1% Black 1%
• Common ancestry: Italian 2% Slovak 1% Lithuanian 1%
• Foreign-born: 1% · Canada
• Languages at home: 98% English-only · Spanish 1%

Political lean MEDSL · Fayette

• 2024 margin: Solid R (+56.3) · D 21.2% · R 77.5% · Other 1.3%
• 2008→2024 swing: -50.8pp toward R · 2008: -5.6pp · 2024: -56.3pp
• All cycles: 2024: R+56.3 2020: R+54.4 2016: R+48.1 2012: R+16.9 2008: R+5.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -5.33%
• Current HPI: 252.3898
• 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

-10.9% since first listed

5 events — show timeline

• 2026-04-24 Listed $49,000 RRELMS
• 2026-04-24 Listed $49,000 ECIAOR
• 2025-04-29 Sold (Public Records) $30,000 Public Records
• 2011-05-09 Sold (Public Records) $7,300 Public Records
• 2006-02-09 Sold (Public Records) $55,000 Public Records

Property tax history

-4.0%/yr

Latest (2024): $1,019 · +7.2% YoY. Source: county tax records.