114 W Washington St · New Richmond, IN 47967

$155,000

3 bd · 1.5 ba · 1,718 sqft · SingleFamily public records · 30 Days on market

Built 1959 0.25 ac lot Est $206k · 25% 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).

• ARV discount +15.0/15.0
• Cash flow +14.9/30.0
• Appreciation +7.5/10.0
• DSCR +4.6/10.0
• Schools +4.3/10.0
• 1% rule +3.1/10.0
• Livability +2.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

This cozy home is tucked away in a quaint rural town and just waiting for its new owners. Enjoy entertaining on the covered patio while the children play in the fenced yard, family meals in the formal dining room, and tinkering in the oversized, detached garage. It boasts original wood floors, natural light, exposed brick chimney column, and other architectural touches, along with newer interior paint, spa tub, and many more modern upgrades. Come tour through and imagine the future possibilities!

Key facts

• Private yard
• Welcoming porch
• 0.25 acre lot

Tags

• DEDICATED LAUNDRY ROOM
• WELCOMING PORCH
• PRIVATE YARD

Property features AI

Finance

• Other: Property sits on approximately 1/4 acre; Residential property subtype: Single Family Residence

Exterior

• Parking: Detached garage; Three-car garage (finished)
• Utilities: Public water; Municipal sewer connected; Electricity connected; Sewer connected; Water connected
• Home design: Single-family residence; Updated/remodeled condition; Three or more levels
• Construction: Vinyl with brick exterior; Block foundation
• Exterior features: Covered patio/porch; Chain link and privacy fencing

Interior

• Kitchen: Electric oven; Range hood; Dishwasher; Refrigerator; Gas water heater
• Bedrooms: Primary bedroom with walk-in closet; Three bedrooms total (one on main level, two on upper level)
• Bathrooms: One full bath; One half bath
• Heating & cooling: Baseboard heating; Electric heating; Natural gas heating; Central air conditioning
• Interior features: Attic access; Finished basement
• Laundry & utility: Main-level laundry; Dryer

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $155k.

Deal economics

• At list price, monthly cash flow is $46 ($548/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 $126k (19.0% below list).
• Recommended offer: $126k (19.0% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 58/100 on livability (#582 in IN) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A, employment B+; Watch: crime D+, amenities F, commute F.
• North Montgomery Community School Corporation (rural): math 47% / reading 53% proficiency, ranked #50 of 301 in IN (top 17%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: North Montgomery High School (math 32% / reading 62%, grade D-, #143 of 369 statewide, top 44%, 516 students, 34% FRL) — zoned schools at 34% FRL track the district average.
• Market conditions: 7 active listings in the ZIP; 52 units permitted in Montgomery County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $9k of equity ($1k loan paydown + $8k appreciation (5.0% local appreciation)).
• Montgomery County population projected to shrink 9% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (5.0% appreciation + 3.0% rent growth), your $43k cash investment doubles in ~5 years — after that, you're playing with house money.
• By year 5, paydown + projected appreciation supports a ~$38k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 30 days — a 2% lower offer ($153k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 12y 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 1959 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $125,542 (19.0% below list)

Questions for the listing agent

1. Built in 1959 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
4. 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?
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: 0.81% ✗
• Cap rate: 6.65%
• Cash-on-cash: 1.26%
• DSCR: 1.06
• GRM: 10.3

CMA / ARV

• ARV (on-the-fly): $206,160
• Comps found: 3

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
513 Wabash St	0.39mi	3/1.0	1,499 (-13%)	6mo	$180,000	$120	53
4285 W 1050 N	0.26mi	3/2.0	1,930 (+12%)	21mo	$250,000	$130	48
514 E Washington St	0.54mi	3/1.0	1,561 (-9%)	21mo	$128,000	$82	40

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

4.95% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 13.8%
• Equity multiple: 1.88×
• Total profit: $38,168
• Equity at exit: $87,404

10-year hold

• IRR: 14.6%
• Equity multiple: 3.60×
• Total profit: $112,983
• Equity at exit: $150,490

Cash invested: $43,400 (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 47967

• Home prices YoY: 2.1%
• Active inventory: 7
• Price-to-rent: 10.3×

Monthly cashflow live

• Estimated rent: $1,255 medium
• Mortgage (P&I): −$813
• Tax from tax record: −$69 /mo · $824/yr
• Insurance: −$65
• HOA: −$0
• Vacancy / Maint / Mgmt: −$264
• Net cashflow: $46

Break-even live

Break-even rent $1,198

Max offer price $155,000

Occupancy floor 91%

Sensitivity live

Price	-10% $133	-5% $90	+0% $46	+5% $2	+10% $-42
Rent	-10% $-54	-5% $-4	+0% $46	+5% $95	+10% $145
Rate	-1.0pp $124	-0.5pp $85	base $46	+0.5pp $5	+1.0pp $-35

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: $38,750
• Closing costs: $4,650
• Reserves months: —
• Total cash needed: —

Listing history 26 events

1. 2026-06-13
   status $155,000 Pending 30 DOM
2. 2026-06-10
   days on market $155,000 Active 30 DOM
3. 2026-06-09
   days on market $155,000 Active 29 DOM
4. 2026-06-08
   days on market $155,000 Active 28 DOM
5. 2026-06-07
   days on market $155,000 Active 27 DOM
6. 2026-06-05
   days on market $155,000 Active 24 DOM
7. 2026-06-02
   days on market $155,000 Active 22 DOM
8. 2026-06-01
   days on market $155,000 Active 21 DOM
9. 2026-05-31
   days on market $155,000 Active 20 DOM
10. 2026-05-30
    days on market $155,000 Active 19 DOM
11. 2026-05-11
    listed $160,000 Active
12. 2024-05-28
    soldstatus $146,000 Closed 501-char remark

    Show marketing remark (501 chars)

    This cozy home is tucked away in a quaint rural town and just waiting for its new owners. Enjoy entertaining on the covered patio while the children play in the fenced yard, family meals in the formal dining room, and tinkering in the oversized, detached garage. It boasts original wood floors, natural light, exposed brick chimney column, and other architectural touches, along with newer interior paint, spa tub, and many more modern upgrades. Come tour through and imagine the future possibilities!

13. 2024-05-08
    status Pending
14. 2024-05-07
    status Pending 501-char remark

    Show marketing remark (501 chars)

    This cozy home is tucked away in a quaint rural town and just waiting for its new owners. Enjoy entertaining on the covered patio while the children play in the fenced yard, family meals in the formal dining room, and tinkering in the oversized, detached garage. It boasts original wood floors, natural light, exposed brick chimney column, and other architectural touches, along with newer interior paint, spa tub, and many more modern upgrades. Come tour through and imagine the future possibilities!

15. 2024-05-05
    listed $150,000 Active
16. 2024-04-25
    listed $150,000 Active 501-char remark

    Show marketing remark (501 chars)

    This cozy home is tucked away in a quaint rural town and just waiting for its new owners. Enjoy entertaining on the covered patio while the children play in the fenced yard, family meals in the formal dining room, and tinkering in the oversized, detached garage. It boasts original wood floors, natural light, exposed brick chimney column, and other architectural touches, along with newer interior paint, spa tub, and many more modern upgrades. Come tour through and imagine the future possibilities!

17. 2017-07-28
    soldstatus $56,000 Sold
18. 2017-07-28
    soldstatus $56,000
19. 2017-06-12
    historical Active with Contingency
20. 2017-04-26
    price $59,900
21. 2017-04-24
    listed $64,900
22. 2017-03-28
    listed $64,900 Active
23. 2015-08-01
    historical
24. 2015-04-09
    price $59,900
25. 2014-11-04
    listed $64,900 Active
26. 2014-11-03
    listed $59,900

ⓘ 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: $824 · $69/mo
• Projected year-2 tax: $1,071 · $89/mo
• Expected delta: +$247/yr (+$21/mo · 29.9%)

ⓘ 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 · 18 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 0% 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: $15,065
• − Mortgage interest: −$8,682
• − Property taxes: −$824
• − Insurance: −$775
• − Repairs & maintenance: −$1,205
• − Management: −$1,205
• − Depreciation: −$4,509
• Taxable loss: −$2,136
• Est. tax savings @ 24.0%: +$513
• After-tax cash flow: $1,061/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: North Montgomery Community School Corporation
• NCES district ID: 1807900
• Math proficiency: 47% ▼ -1.00%
• Reading proficiency: 53% ▲ 3.00%
• Median HH income: $53,844
• Composite: 43.14/100
• National rank: #3076
• State rank: #50 of 301 in IN

Livability — New Richmond

• Score: 58/100
• State rank: #582
• US rank: #20903

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: New Richmond, IN
• Population (ZIP): 853

Population outlook (Montgomery County) Hauer SSP2

• Today (2025): 37,893 people
• By 2030: 37,539 · -0.9%
• By 2040: 36,536 · -3.6%
• By 2050: 34,454 · -9.1%
• By 2075: 28,852 · -23.9%
• By 2100: 21,145 · -44.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (95%)
• Race & ethnicity: White 95% Hispanic / Latino 4% Asian 1%
• Common ancestry: Italian 3% Slovak 3% Romanian 2%
• Foreign-born: 2% · Canada
• Languages at home: 95% English-only · Spanish 4% Tagalog/Filipino 1%

Political lean MEDSL · Montgomery

• 2024 margin: Solid R (+48.2) · D 24.9% · R 73.2% · Other 1.9%
• 2008→2024 swing: -28.3pp toward R · 2008: -19.9pp · 2024: -48.2pp
• All cycles: 2024: R+48.2 2020: R+49.1 2016: R+50.9 2012: R+38.5 2008: R+19.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 4.95%
• Current HPI: 237.0758
• 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

+167.1% since first listed

16 events — show timeline

• 2026-05-11 Listed $160,000 MIBOR as Distributed by MLS Grid
• 2024-05-28 Sold (MLS) $146,000 MIBOR as Distributed by MLS Grid
• 2024-05-08 Pending — IRMLS
• 2024-05-07 Pending — MIBOR as Distributed by MLS Grid
• 2024-05-05 Listed $150,000 IRMLS
• 2024-04-25 Listed $150,000 MIBOR as Distributed by MLS Grid
• 2017-07-28 Sold (MLS) $56,000 IRMLS
• 2017-07-28 Sold (MLS) $56,000 MIBOR as Distributed by MLS Grid
• 2017-06-12 Contingent — MIBOR as Distributed by MLS Grid
• 2017-04-26 Price Changed $59,900 MIBOR as Distributed by MLS Grid
• 2017-04-24 Listed $64,900 IRMLS
• 2017-03-28 Listed $64,900 MIBOR as Distributed by MLS Grid
• 2015-08-01 Listing Removed — MIBOR as Distributed by MLS Grid
• 2015-04-09 Price Changed $59,900 MIBOR as Distributed by MLS Grid
• 2014-11-04 Listed $64,900 MIBOR as Distributed by MLS Grid
• 2014-11-03 Listed $59,900 IRMLS

Property tax history

+17.9%/yr

Latest (2025): $824 · +42.5% YoY. Source: county tax records.