7117 High St · Galena, IN 47119

$144,900

3 bd · 1.0 ba · 2,004 sqft · Manufactured public records · 14 Days on market

Built 1971 0.38 ac lot

---

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
• ARV discount +7.5/15.0
• 1% rule +7.3/10.0
• Schools +4.2/10.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Hard to find at this price in Greenville! This charming home features 2 covered porch areas; large rear deck; large flat yard; 2 car detached garage, 4 bedrooms (2 on the main floor and 2 and the 2nd floor); 2 full baths; large eat in kitchen; newer paint and carpet throughout! The home also has newer kitchen flooring and countertops. There is a separate laundry room on the main floor and additional w/d hook ups on the 2nd level. Motivated Seller!

Key facts

• Huge walk-in closet
• Double sink
• Large shady lot

Tags

• LARGE SHADY LOT
• ABUNDANCE OF CLOSET SPACE
• HUGE WALK-IN CLOSET
• LARGE LAUNDRY ROOM
• DOUBLE SINK
• BUILT-IN VANITY

Property features AI

Exterior

• Parking: Detached garage; 2 garage spaces
• Utilities: Public water connected; Septic tank sewer
• Home design: Single wide mobile-body type; Residential zoning; Paved road access
• Construction: Frame construction with vinyl siding; Shingle roof; Above-grade finished area reported
• Exterior features: Deck; Sun room; Garage(s)

Interior

• Kitchen: Eat-in kitchen; Breakfast bar
• Bedrooms: Second-floor bedroom (11.2 x 14) without closet; Second-floor bedroom (12 x 18); First-floor bedroom (11 x 10) — pink bedroom; First-floor bedroom (13 x 13)
• Flooring: Tile (bathroom); Carpet (some bedrooms); Laminate (multiple first-floor rooms, kitchen, family room, dining room, sun room)
• Bathrooms: 2 full bathrooms
• Heating & cooling: Forced air heating; Central air; Window and wall/window unit(s) for cooling
• Interior features: Attic; Breakfast bar; Ceiling fan(s); Eat-in kitchen; Main level primary; Storage; Utility room
• Laundry & utility: Laundry closet on main level; Utility room

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath manufactured listed at $145k.

Deal economics

• At list price, monthly cash flow is $560 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $145k).

Location & tenants

• Location reads 68/100 on livability (#229 in IN) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, cost of living A+; Watch: schools D, amenities F, commute F.
• New Albany-Floyd County Consolidated Schools (suburban): math 46% / reading 50% proficiency, ranked #68 of 301 in IN (top 23%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 74 active listings in the ZIP; 297 units permitted in Floyd County in 2024 (84 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 $4k of value loss. Plan a longer hold.
• Floyd County population projected at +10% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $41k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• Only 14 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts since 15y 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 $45k; list at $145k implies a 222% gain — meaningful room to come down on a strong offer.

Recommended offer $144,900

Questions for the listing agent

1. Built in 1971 — 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 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?
4. 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.
5. 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.
6. 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: 1.23% ✓
• Cap rate: 10.93%
• Cash-on-cash: 16.55%
• DSCR: 1.74
• GRM: 6.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 7.6%
• Equity multiple: 1.30×
• Total profit: $12,094
• Equity at exit: $21,605

10-year hold

• IRR: 16.9%
• Equity multiple: 2.38×
• Total profit: $56,149
• Equity at exit: $12,528

Cash invested: $40,572 (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 47119

• Active inventory: 74
• Price-to-rent: 6.8×

Monthly cashflow live

• Estimated rent: $1,779 medium
• Mortgage (P&I): −$760
• Tax from tax record: −$26 /mo · $310/yr
• Insurance: −$60
• HOA: −$0
• Vacancy / Maint / Mgmt: −$374
• Net cashflow: $560

Break-even live

Break-even rent $1,071

Max offer price $144,900

Occupancy floor 64%

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: $36,225
• Closing costs: $4,347
• Reserves months: —
• Total cash needed: —

Listing history 11 events

1. 2026-06-03
   days on market $144,900 Active 14 DOM
2. 2026-06-02
   days on market $144,900 Active 13 DOM
3. 2026-06-01
   days on market $144,900 Active 12 DOM
4. 2026-05-31
   days on market $144,900 Active 11 DOM
5. 2026-05-19
   listed $144,900 Active
6. 2013-02-08
   soldstatus $45,000 451-char remark

   Show marketing remark (453 chars)

   Hard to find at this price in Greenville! This charming home features 2 covered porch areas; large rear deck; large flat yard; 2 car detached garage, 4 bedrooms (2 on the main floor and 2 and the 2nd floor); 2 full baths; large eat in kitchen; newer paint and carpet throughout! The home also has newer kitchen flooring and countertops. There is a separate laundry room on the main floor and additional w/ d hook ups on the 2nd level. Motivated Seller!

7. 2013-02-08
   soldstatus $45,000 453-char remark

   Show marketing remark (453 chars)

   Hard to find at this price in Greenville! This charming home features 2 covered porch areas; large rear deck; large flat yard; 2 car detached garage, 4 bedrooms (2 on the main floor and 2 and the 2nd floor); 2 full baths; large eat in kitchen; newer paint and carpet throughout! The home also has newer kitchen flooring and countertops. There is a separate laundry room on the main floor and additional w/ d hook ups on the 2nd level. Motivated Seller!

8. 2012-11-16
   listed $56,900 453-char remark

   Show marketing remark (453 chars)

   Hard to find at this price in Greenville! This charming home features 2 covered porch areas; large rear deck; large flat yard; 2 car detached garage, 4 bedrooms (2 on the main floor and 2 and the 2nd floor); 2 full baths; large eat in kitchen; newer paint and carpet throughout! The home also has newer kitchen flooring and countertops. There is a separate laundry room on the main floor and additional w/ d hook ups on the 2nd level. Motivated Seller!

9. 2012-05-18
   historical

   Show marketing remark (451 chars)

   Hard to find at this price in Greenville! This charming home features 2 covered porch areas; large rear deck; large flat yard; 2 car detached garage, 4 bedrooms (2 on the main floor and 2 and the 2nd floor); 2 full baths; large eat in kitchen; newer paint and carpet throughout! The home also has newer kitchen flooring and countertops. There is a separate laundry room on the main floor and additional w/d hook ups on the 2nd level. Motivated Seller!

10. 2012-05-18
    listed $56,900 451-char remark

    Show marketing remark (451 chars)

    Hard to find at this price in Greenville! This charming home features 2 covered porch areas; large rear deck; large flat yard; 2 car detached garage, 4 bedrooms (2 on the main floor and 2 and the 2nd floor); 2 full baths; large eat in kitchen; newer paint and carpet throughout! The home also has newer kitchen flooring and countertops. There is a separate laundry room on the main floor and additional w/d hook ups on the 2nd level. Motivated Seller!

11. 2011-08-08
    listed $69,900

ⓘ 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: $310 · $26/mo
• Projected year-2 tax: $771 · $64/mo
• Expected delta: +$461/yr (+$38/mo · 148.8%)

ⓘ 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 2/10 Low
• 🌡 Heat 4/10 Moderate 7 d/yr ≥105°F today · 20 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: $21,352
• − Mortgage interest: −$8,117
• − Property taxes: −$310
• − Insurance: −$724
• − Repairs & maintenance: −$1,708
• − Management: −$1,708
• − Depreciation: −$4,215
• Taxable income: $4,570
• Est. tax owed @ 24.0%: −$1,097
• After-tax cash flow: $5,619/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 Albany-Floyd County Consolidated Schools
• NCES district ID: 1807410
• Math proficiency: 46% ▼ -4.00%
• Reading proficiency: 50% ▼ -3.00%
• Median HH income: $54,709
• Composite: 41.57/100
• National rank: #3441
• State rank: #68 of 301 in IN

Livability — Galena

• Score: 68/100
• State rank: #229
• US rank: #9965

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Galena, IN
• Population (ZIP): 11,748

Population outlook (Floyd County) Hauer SSP2

• Today (2025): 82,092 people
• By 2030: 84,384 · +2.8%
• By 2040: 87,919 · +7.1%
• By 2050: 89,958 · +9.6%
• By 2075: 94,159 · +14.7%
• By 2100: 91,907 · +12.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (91%)
• Race & ethnicity: White 91% Two or more races 7% Hispanic / Latino 4% Black 1%
• Common ancestry: Lithuanian 3% Slovak 3% Romanian 2%
• Foreign-born: 4% · Canada
• Languages at home: 97% English-only · Spanish 2%

Political lean MEDSL · Floyd

• 2024 margin: R (+15.5) · D 41.4% · R 56.9% · Other 1.7%
• 2008→2024 swing: -5.4pp toward R · 2008: -10.1pp · 2024: -15.5pp
• All cycles: 2024: R+15.5 2020: R+14.1 2016: R+20.1 2012: R+14.3 2008: R+10.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -107.01%
• Current HPI: 189.5877
• 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

+107.3% since first listed

7 events — show timeline

• 2026-05-19 Listed $144,900 SIRA
• 2013-02-08 Sold (MLS) $45,000 SIRA
• 2013-02-08 Sold (MLS) $45,000 Metro Search MLS
• 2012-11-16 Listed $56,900 SIRA
• 2012-05-18 Listed $56,900 Metro Search MLS
• 2012-05-18 Listing Removed — Metro Search MLS
• 2011-08-08 Listed $69,900 Metro Search MLS

Property tax history

-10.2%/yr

Latest (2024): $310 · -29.2% YoY. Source: county tax records.