1324 J Ave · New Castle, IN 47362

$82,499

2 bd · 1.0 ba · 1,320 sqft · SingleFamily public records · 46 Days on market

Built 1900 6,621 sqft lot $62/sqft · 26% above area Est $131k · 37% under

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Why this score? — see what drove the C+ 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 +21.5/30.0
• ARV discount +15.0/15.0
• DSCR +6.9/10.0
• 1% rule +6.4/10.0
• Livability +3.8/5.0
• Rent growth +3.6/5.0
• Schools +2.7/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to your new home or investment opportunity! This home boasts a great location and ample-sized rooms, making it a perfect investment opportunity or a wonderful place to call your own. The property features a one-car attached garage and a spacious work area in the basement, ideal for projects and storage. Enjoy the outdoors with a covered front porch and a fenced-in yard, perfect for pets and outdoor activities. The yard also offers plenty of space for cookouts and gatherings. Don't miss out on this incredible opportunity to own a home with so much potential. Contact Brian Ingle with FC Tucker Richmond at 765-960-0533 today to schedule a viewing and make this house your new home.

Key facts

• Covered front porch
• Attached garage
• Space for cookouts

Tags

• ATTACHED GARAGE
• WORK AREA IN BASEMENT
• COVERED FRONT PORCH
• FENCED IN YARD
• SPACE FOR COOKOUTS

Property features AI

Exterior

• Parking: Garage (296 sq ft) — garage space count not specified
• Utilities: Public water; Municipal sewer connected; Solid waste service available
• Home design: Single-family residence; One level
• Construction: Vinyl siding; Block foundation
• Exterior features: Lot under 1/4 acre

Interior

• Kitchen: Refrigerator
• Bedrooms: 2 bedrooms on the main level
• Bathrooms: 1 full bathroom on the main level
• Heating & cooling: Natural gas heating; No central cooling
• Interior features: Eat-in kitchen; Basement
• Laundry & utility: No specific laundry appliances listed

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $82k.

Deal economics

• At list price, monthly cash flow is $124 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($943 rent vs $82k).
• Recommended offer: $80k (3.0% below list) — sets the bar for market timing.
• Cap rate 8.1% vs local median 4.8% in New Castle — 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 75/100 on livability (#64 in IN, #4,219 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: schools D+, amenities F, commute F.
• New Castle Community School Corporation (town): math 30% / reading 35% proficiency, ranked #229 of 301 in IN (top 76%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising fast (+4.6%/yr); 214 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals leasing fast (median 3d on market — plan ~1-2 weeks tenant-placement turnaround); 47 units permitted in Henry County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $570 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Henry County population projected at -12% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 46 days — a 3% lower offer ($80k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 2y ago 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.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $80,024 (3.0% below list)

Questions for the listing agent

1. It's been on market 46 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 1900 — 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: 8.09%
• Cash-on-cash: 6.43%
• DSCR: 1.29
• GRM: 7.3

CMA / ARV

• ARV (median comp): $131,479
• List price: $82,499
• Delta: -37.25%
• 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
2014 Roosevelt Ave	0.19mi	2/1.0	1,344 (+2%)	0mo	$138,000	$103	88
324 Park Ave	0.30mi	2/1.0	1,296 (-2%)	9mo	$45,700	$35	76
1318 L Ave	0.08mi	2/1.0	1,456 (+10%)	10mo	$135,000	$93	71
926 I Ave	0.37mi	2/1.0	1,412 (+7%)	6mo	$113,000	$80	66
1603 C Ave	0.48mi	2/1.0	1,204 (-9%)	1mo	$47,500	$39	62
1636 Columbus St	0.21mi	3/2.0 (+1)	1,176 (-11%)	4mo	$50,000	$43	60
917 S 15th St	0.52mi	3/1.5 (+1)	1,396 (+6%)	2mo	$74,900	$54	57
2313 Cherrywood Ave	0.38mi	3/1.0 (+1)	1,178 (-11%)	2mo	$140,000	$119	57
1701-1705 Morton St	0.36mi	3/1.0 (+1)	1,222 (-7%)	10mo	$50,000	$41	57
508 Cedar Dr	0.63mi	2/1.0	1,255 (-5%)	7mo	$164,900	$131	57
1126 S 17th St	0.41mi	3/1.0 (+1)	1,163 (-12%)	3mo	$139,000	$120	54
2302 I Ave	0.61mi	3/1.5 (+1)	1,216 (-8%)	6mo	$144,900	$119	46

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 · 4.59% rent growth · sell at horizon

5-year hold

• IRR: -4.4%
• Equity multiple: 0.83×
• Total profit: $-3,906
• Equity at exit: $12,301

10-year hold

• IRR: 7.2%
• Equity multiple: 1.58×
• Total profit: $13,433
• Equity at exit: $7,133

Cash invested: $23,100 (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 47362

• Home prices YoY: -16.0%
• Rents YoY: 4.6%
• Active inventory: 214
• Price-to-rent: 7.3×

Monthly cashflow live

• Estimated rent: $943 medium
• Mortgage (P&I): −$433
• Tax from tax record: −$154 /mo · $1,850/yr
• Insurance: −$34
• HOA: −$0
• Vacancy / Maint / Mgmt: −$198
• Net cashflow: $124

Break-even live

Break-even rent $786

Max offer price $82,499

Occupancy floor 82%

Sensitivity live

Price	-10% $170	-5% $147	+0% $124	+5% $100	+10% $77
Rent	-10% $49	-5% $87	+0% $124	+5% $161	+10% $198
Rate	-1.0pp $165	-0.5pp $145	base $124	+0.5pp $102	+1.0pp $81

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: $20,625
• Closing costs: $2,475
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1618 P Ave New Castle, IN	3.0	1.5	1064	$950	$0.89	2d	1	0.34mi
940 S 15th St New Castle, IN	1.0–2.0	1.0–1.5	816	$1,075	$1.32	2d	2	0.50mi
1519 A Ave New Castle, IN	3.0	2.0	1790	$855	$0.48	44d	1	0.62mi

Listing history 23 events

1. 2026-06-19
   days on market $82,499 Active 46 DOM
2. 2026-06-18
   days on market $82,499 Active 45 DOM
3. 2026-06-17
   days on market $82,499 Active 44 DOM
4. 2026-06-16
   days on market $82,499 Active 43 DOM
5. 2026-06-15
   days on market $82,499 Active 42 DOM
6. 2026-06-14
   days on market $82,499 Active 40 DOM
7. 2026-06-12
   days on market $82,499 Active 39 DOM
8. 2026-06-09
   days on market $82,499 Active 36 DOM
9. 2026-06-08
   days on market $82,499 Active 35 DOM
10. 2026-06-07
    days on market $82,499 Active 34 DOM
11. 2026-06-05
    days on market $82,499 Active 31 DOM
12. 2026-06-03
    days on market $82,499 Active 30 DOM
13. 2026-06-02
    days on market $82,499 Active 29 DOM
14. 2026-06-01
    days on market $82,499 Active 28 DOM
15. 2026-05-31
    days on market $82,499 Active 27 DOM
16. 2026-05-30
    days on market $82,499 Active 26 DOM
17. 2026-05-04
    listed $82,499 Active 570-char remark

    Show marketing remark (694 chars)

    Welcome to your new home or investment opportunity! This home boasts a great location and ample-sized rooms, making it a perfect investment opportunity or a wonderful place to call your own. The property features a one-car attached garage and a spacious work area in the basement, ideal for projects and storage. Enjoy the outdoors with a covered front porch and a fenced-in yard, perfect for pets and outdoor activities. The yard also offers plenty of space for cookouts and gatherings. Don't miss out on this incredible opportunity to own a home with so much potential. Contact Brian Ingle with FC Tucker Richmond at 765-960-0533 today to schedule a viewing and make this house your new home.

18. 2026-05-04
    listed $85,499 Active 722-char remark

    Show marketing remark (694 chars)

    Welcome to your new home or investment opportunity! This home boasts a great location and ample-sized rooms, making it a perfect investment opportunity or a wonderful place to call your own. The property features a one-car attached garage and a spacious work area in the basement, ideal for projects and storage. Enjoy the outdoors with a covered front porch and a fenced-in yard, perfect for pets and outdoor activities. The yard also offers plenty of space for cookouts and gatherings. Don't miss out on this incredible opportunity to own a home with so much potential. Contact Brian Ingle with FC Tucker Richmond at 765-960-0533 today to schedule a viewing and make this house your new home.

19. 2025-11-18
    price $85,499
20. 2025-04-02
    price $85,500
21. 2024-11-19
    historical
22. 2024-04-01
    listed $79,900 Active
23. 2024-04-01
    listed $79,900 Active

ⓘ 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: $1,850 · $154/mo
• Projected year-2 tax: $1,850 · $154/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 5/10 Major FEMA zone X (unshaded) · 67% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥99°F today · 18 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: $11,316
• − Mortgage interest: −$4,621
• − Property taxes: −$1,850
• − Insurance: −$412
• − Repairs & maintenance: −$905
• − Management: −$905
• − Depreciation: −$2,400
• Taxable income: $222
• Est. tax owed @ 24.0%: −$53
• After-tax cash flow: $1,432/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 Castle Community School Corporation
• NCES district ID: 1807440
• Math proficiency: 30% ▼ -13.00%
• Reading proficiency: 35% ▼ -9.00%
• Median HH income: $36,717
• Composite: 26.99/100
• National rank: #7067
• State rank: #229 of 301 in IN

Livability — New Castle

• Score: 75/100
• State rank: #64
• US rank: #4219

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: New Castle, IN
• County: Henry County · 29,337 people
• City population: 29,337
• Metro: New Castle, IN
• Population (ZIP): 29,337
• Household income: $60,258
• Rent vs Own: 27.6% rent · 72.4% own
• Severe rent burden: 545.0

Population outlook (Henry County) Hauer SSP2

• Today (2025): 48,028 people
• By 2030: 47,125 · -1.9%
• By 2040: 44,820 · -6.7%
• By 2050: 42,207 · -12.1%
• By 2075: 35,814 · -25.4%
• By 2100: 26,779 · -44.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (90%)
• Race & ethnicity: White 90% Two or more races 3% Black 3% Hispanic / Latino 3%
• Common ancestry: Italian 2% Slovak 1% Lithuanian 1%
• Foreign-born: 2% · Canada
• Languages at home: 97% English-only · Spanish 2%

Political lean MEDSL · Henry

• 2024 margin: Solid R (+47.7) · D 25.3% · R 73.0% · Other 1.7%
• 2008→2024 swing: -43.8pp toward R · 2008: -3.9pp · 2024: -47.7pp
• All cycles: 2024: R+47.7 2020: R+45.2 2016: R+43.7 2012: R+17.0 2008: R+3.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -43.70%
• Current HPI: 228.8885
• Rent YoY: ▲ 4.59%
• Metro: New Castle, 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

+7.0% since first listed

7 events — show timeline

• 2026-05-04 Listed $85,499 RRELMS
• 2026-05-04 Listed $82,499 MIBOR as Distributed by MLS Grid
• 2025-11-18 Price Changed $85,499 RRELMS
• 2025-04-02 Price Changed $85,500 RRELMS
• 2024-11-19 Listing Removed — MIBOR as Distributed by MLS Grid
• 2024-04-01 Listed $79,900 IRMLS
• 2024-04-01 Listed $79,900 MIBOR as Distributed by MLS Grid

Property tax history

+10.7%/yr

Latest (2024): $1,850 · +126.9% YoY. Source: county tax records.