406 N Ireland St · Greensburg, IN 47240

$315,000

2 bd · 1.0 ba · 1,506 sqft · SingleFamily public records · 20 Days on market

Built 2026 3,680 sqft lot

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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
• DSCR +10.0/10.0
• 1% rule +9.3/10.0
• ARV discount +7.5/15.0
• 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

Fall in love with this adorable home that was built in the 1920s with all modern updates within the last 5 yrs. Within this home enjoy 1500sqft living space that offers 2 large bedrooms both with walk-in closets, master bedroom has master bath with tiled floor and tiled Jacuzzi tub. Large living room, eat-in-kitchen plus formal dining room with a trey ceiling. Kitchen has updated cabinetry with an added pantry cabinet. All appliances stay! Home has raised ceilings throughout. Large detached garage with electricity enclosed with full fenced backyard. Walk into the back door to a mud/laundry room with washer and dryer staying as well! A/C unit is new within the last 3 yrs. This home WILL NOT last long! DON'T MISS OUT!!

Key facts

• Brand new duplex
• 3,680 sq ft lot
• Built 2026

Tags

• BRAND NEW DUPLEX
• SEPARATE ELECTRIC UTILITIES
• CLOSE PROXIMITY TO SHOPPING
• CLOSE PROXIMITY TO DINING
• CLOSE PROXIMITY TO SCHOOLS

Property features AI

Finance

• Other: Current use: Residential
• Financial info: Property has 2 units; One unit listed with monthly rent of $1,500; Reported expenses: $7,200

Exterior

• Parking: Gravel parking
• Utilities: No solid waste service listed
• Home design: Duplex residential income property; New construction; One story
• Construction: Built by Jones Construction; Slab foundation
• Exterior features: Shingle roof; Vinyl siding; Road access: see remarks

Interior

• Kitchen: Kitchen present in at least one unit
• Bedrooms: One unit is a 3-bedroom (single-level)
• Heating & cooling: Electric heating; Central air conditioning
• Interior features: Central air; Electric heating; Laundry room
• Laundry & utility: Laundry room

🏗️ New construction. The $315,000 list price is a builder figure, so every metric below is computed on the value from comparable previous sales — $216,864.

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $315k.

Deal economics

• At list price, monthly cash flow is $1k ($14k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $311k (1.4% below list).
• Recommended offer: $310k (1.5% below list) — sets the bar for market timing.
• Cap rate 12.6% 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-, amenities F, commute 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.
• Zoned schools: Greensburg Elementary (math 60% / reading 47%, grade C, #225 of 994 statewide, top 23%, 1,037 students, 55% FRL); Greensburg Community High School (math 27% / reading 67%, grade D-, #143 of 369 statewide, top 44%, 671 students, 44% FRL).
• Market conditions: 155 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 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 $1k of loan paydown is wiped out by about $7k 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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $61k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 20 days — a 2% lower offer ($310k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 17y 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.
• Current owner paid $130k; list at $315k implies a 142% gain — meaningful room to come down on a strong offer.

Recommended offer $310,275 (1.5% below list)

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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?
3. 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.
4. 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.
5. 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: 1.43% ✓
• Cap rate: 12.60%
• Cash-on-cash: 22.51%
• DSCR: 2.00
• GRM: 5.8

CMA / ARV

• ARV (on-the-fly): $216,864
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
304 W Shortridge Dr	0.06mi	3/1.0 (+1)	1,475 (-2%)	13mo	$195,000	$132	78
513 W North St	0.16mi	3/2.0 (+1)	1,500 (-0%)	7mo	$230,000	$153	77
402 W Washington St	0.16mi	3/1.0 (+1)	1,328 (-12%)	2mo	$170,000	$128	66
820 N Broadway St	0.40mi	3/1.5 (+1)	1,472 (-2%)	6mo	$224,000	$152	66
119 W 2nd St	0.36mi	2/2.0	1,552 (+3%)	13mo	$200,100	$129	63
420 N East St	0.40mi	3/2.0 (+1)	1,477 (-2%)	10mo	$212,000	$144	61
315 W Walnut St	0.15mi	3/2.0 (+1)	1,659 (+10%)	10mo	$145,000	$87	59
328 N Carver St	0.16mi	3/2.0 (+1)	1,340 (-11%)	11mo	$200,000	$149	56
214 N Amrhein Dr	0.55mi	3/1.5 (+1)	1,404 (-7%)	6mo	$217,000	$155	51
216 N Amrhein Dr	0.55mi	3/1.5 (+1)	1,352 (-10%)	13mo	$199,900	$148	39
409 N Amrhein Dr	0.57mi	3/2.0 (+1)	1,362 (-10%)	14mo	$180,000	$132	37
327 W Bryant St	0.67mi	3/1.0 (+1)	1,709 (+14%)	7mo	$200,000	$117	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: 15.3%
• Equity multiple: 1.61×
• Total profit: $37,340
• Equity at exit: $32,335

10-year hold

• IRR: 24.0%
• Equity multiple: 3.07×
• Total profit: $125,661
• Equity at exit: $18,750

Cash invested: $60,722 (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: 155
• Price-to-rent: 8.5×

Monthly cashflow live

• Estimated rent: $3,105 medium
• Mortgage (P&I): −$1,137
• Tax from tax record: −$87 /mo · $1,040/yr
• Insurance: −$90
• HOA: −$0
• Vacancy / Maint / Mgmt: −$652
• Net cashflow: $1,139

Break-even live

Break-even rent $1,664

Max offer price $216,864

Occupancy floor 58%

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: $54,216
• Closing costs: $6,506
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1011 N Anderson St Greensburg, IN	3.0	2.5	1620	$3,995	$2.47	12d	1	0.45mi
2303 N Broadway St Greensburg, IN	2.0	2.0	1100	$1,399	$1.27	23d	1	1.35mi
1651 W Kole Dr Unit A Greensburg, IN	3.0	2.0	1075	$1,350	$1.26	23d	1	1.40mi

Listing history 20 events

1. 2026-06-08
   days on market $315,000 Active 20 DOM
2. 2026-06-07
   pricedays on market $315,000 Active 19 DOM
3. 2026-06-05
   days on market $325,000 Active 17 DOM
4. 2026-06-04
   days on market $325,000 Active 15 DOM
5. 2026-06-02
   days on market $325,000 Active 14 DOM
6. 2026-06-01
   days on market $325,000 Active 13 DOM
7. 2026-05-31
   days on market $325,000 Active 12 DOM
8. 2026-05-31
   days on market $325,000 Active 11 DOM
9. 2026-05-01
   listed $325,000 Active
10. 2019-05-06
    soldstatus $130,000 Sold 726-char remark

    Show marketing remark (726 chars)

    Fall in love with this adorable home that was built in the 1920s with all modern updates within the last 5 yrs. Within this home enjoy 1500sqft living space that offers 2 large bedrooms both with walk-in closets, master bedroom has master bath with tiled floor and tiled Jacuzzi tub. Large living room, eat-in-kitchen plus formal dining room with a trey ceiling. Kitchen has updated cabinetry with an added pantry cabinet. All appliances stay! Home has raised ceilings throughout. Large detached garage with electricity enclosed with full fenced backyard. Walk into the back door to a mud/laundry room with washer and dryer staying as well! A/C unit is new within the last 3 yrs. This home WILL NOT last long! DON'T MISS OUT!!

11. 2019-04-01
    status Pending 726-char remark

    Show marketing remark (726 chars)

    Fall in love with this adorable home that was built in the 1920s with all modern updates within the last 5 yrs. Within this home enjoy 1500sqft living space that offers 2 large bedrooms both with walk-in closets, master bedroom has master bath with tiled floor and tiled Jacuzzi tub. Large living room, eat-in-kitchen plus formal dining room with a trey ceiling. Kitchen has updated cabinetry with an added pantry cabinet. All appliances stay! Home has raised ceilings throughout. Large detached garage with electricity enclosed with full fenced backyard. Walk into the back door to a mud/laundry room with washer and dryer staying as well! A/C unit is new within the last 3 yrs. This home WILL NOT last long! DON'T MISS OUT!!

12. 2019-03-24
    listed $130,000 Active 726-char remark

    Show marketing remark (726 chars)

    Fall in love with this adorable home that was built in the 1920s with all modern updates within the last 5 yrs. Within this home enjoy 1500sqft living space that offers 2 large bedrooms both with walk-in closets, master bedroom has master bath with tiled floor and tiled Jacuzzi tub. Large living room, eat-in-kitchen plus formal dining room with a trey ceiling. Kitchen has updated cabinetry with an added pantry cabinet. All appliances stay! Home has raised ceilings throughout. Large detached garage with electricity enclosed with full fenced backyard. Walk into the back door to a mud/laundry room with washer and dryer staying as well! A/C unit is new within the last 3 yrs. This home WILL NOT last long! DON'T MISS OUT!!

13. 2014-04-16
    historical 495-char remark

    Show marketing remark (495 chars)

    IMMEDIATE POSSESSION. Totally renovated home w/great finish work. Curved corners and decorative trim. 15x8 Covered front porch. Living Room w/bay window, Dining room with tray ceiling and modern chandelier. Great Kitchen w/all new stainless steel appliances that remain, cabinets are soft closing. Master suite has walk-in closet w/lg master bath w/tiled floor & tiled spa tub. 2nd bedroom has walk-in closet & 2nd bath is tiled. 12x12 breezeway area connecting house & 2car garage.

14. 2014-04-16
    soldstatus $104,900 495-char remark

    Show marketing remark (495 chars)

    IMMEDIATE POSSESSION. Totally renovated home w/great finish work. Curved corners and decorative trim. 15x8 Covered front porch. Living Room w/bay window, Dining room with tray ceiling and modern chandelier. Great Kitchen w/all new stainless steel appliances that remain, cabinets are soft closing. Master suite has walk-in closet w/lg master bath w/tiled floor & tiled spa tub. 2nd bedroom has walk-in closet & 2nd bath is tiled. 12x12 breezeway area connecting house & 2car garage.

15. 2014-02-12
    listed $109,900 495-char remark

    Show marketing remark (495 chars)

    IMMEDIATE POSSESSION. Totally renovated home w/great finish work. Curved corners and decorative trim. 15x8 Covered front porch. Living Room w/bay window, Dining room with tray ceiling and modern chandelier. Great Kitchen w/all new stainless steel appliances that remain, cabinets are soft closing. Master suite has walk-in closet w/lg master bath w/tiled floor & tiled spa tub. 2nd bedroom has walk-in closet & 2nd bath is tiled. 12x12 breezeway area connecting house & 2car garage.

16. 2010-10-27
    historical
17. 2010-10-21
    historical
18. 2010-10-19
    soldstatus $25,000
19. 2010-08-14
    listed $26,900
20. 2009-10-26
    listed $79,000

ⓘ 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: $1,040 · $87/mo
• Projected year-2 tax: $1,859 · $155/mo
• Expected delta: +$819/yr (+$68/mo · 78.7%)

ⓘ 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: $37,266
• − Mortgage interest: −$12,148
• − Property taxes: −$1,040
• − Insurance: −$1,084
• − Repairs & maintenance: −$2,981
• − Management: −$2,981
• − Depreciation: −$6,309
• Taxable income: $10,723
• Est. tax owed @ 24.0%: −$2,573
• After-tax cash flow: $11,095/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

+311.4% since first listed

12 events — show timeline

• 2026-05-01 Listed $325,000 MIBOR as Distributed by MLS Grid
• 2019-05-06 Sold (MLS) $130,000 MIBOR as Distributed by MLS Grid
• 2019-04-01 Pending — MIBOR as Distributed by MLS Grid
• 2019-03-24 Listed $130,000 MIBOR as Distributed by MLS Grid
• 2014-04-16 Listing Removed — MIBOR as Distributed by MLS Grid
• 2014-04-16 Sold (MLS) $104,900 MIBOR as Distributed by MLS Grid
• 2014-02-12 Listed $109,900 MIBOR as Distributed by MLS Grid
• 2010-10-27 Listing Removed — MIBOR as Distributed by MLS Grid
• 2010-10-21 Listing Removed — MIBOR as Distributed by MLS Grid
• 2010-10-19 Sold (MLS) $25,000 MIBOR as Distributed by MLS Grid
• 2010-08-14 Listed $26,900 MIBOR as Distributed by MLS Grid
• 2009-10-26 Listed $79,000 MIBOR as Distributed by MLS Grid

Property tax history

-5.5%/yr

Latest (2023): $1,040 · +3.4% YoY. Source: county tax records.