1806 Edgewood Dr · Charlestown, IN 47111

$59,999

2 bd · 1.0 ba · 580 sqft · SingleFamily public records · 23 Days on market

Built 1946 Fair condition 7,405 sqft lot $103/sqft · 46% below area Est $110k · 46% under ↓ 25% 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
• Schools +3.4/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.2/5.0
• Appreciation +0.0/10.0

Listing remarks

Single bedroom tiny home available. Perfect for anyone looking for their first home, or someone wanting to downsize who doesn't need a lot of space. Back part of property to be surveyed off. Reference picture. Actual survey has not been done yet.

Key facts

• 7,405 sq ft lot
• Built 1946
• Listed 23 days

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $60k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $478 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $60k).
• Recommended offer: $59k (1.5% below list) — sets the bar for market timing.
• Cap rate 15.8% vs local median 3.2% in Charlestown — 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 (#352 in IN) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F, health & safety F.
• Greater Clark County Schools (suburban): math 26% / reading 37% proficiency, ranked #224 of 301 in IN (top 74%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Pleasant Ridge Elementary School (531 students, 54% FRL); Charlestown Middle School (math 23% / reading 40%, grade F, #197 of 330 statewide, top 60%, 612 students, 44% FRL); Charlestown Senior High School (math 17% / reading 57%, grade F, #247 of 369 statewide, top 70%, 788 students, 40% FRL) — zoned schools at 46% FRL track the district average.
• Market conditions: 346 active listings in the ZIP; solid renter incomes; 911 units permitted in Clark County in 2024 (133 in 5+ unit buildings).
• This rent is only 15% of the median local income ($95k/yr) — well below the 30% rent-burden line; pricing power to push rent on renewal without tenant pushback.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $415 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Clark County population projected at +17% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $17k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 23 days — a 2% lower offer ($59k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: property tax is 2.7% of price; built in 1946 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $59,099 (1.5% below list)

Questions for the listing agent

1. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
2. Built in 1946 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
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: 2.01% ✓
• Cap rate: 15.85%
• Cash-on-cash: 34.11%
• DSCR: 2.52
• GRM: 4.2

CMA / ARV

• ARV (median comp): $110,187
• List price: $59,999
• Delta: -36.47%
• Verdict: UNDERPRICED
• Comps: 2 within 2.0 mi

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1440 Lindsey St	1.28mi	2/1.0	630 (+9%)	4mo	$120,000	$190	48
660 Level St	1.41mi	2/1.0	648 (+12%)	2mo	$145,000	$224	44
184 Maple Dr	0.35mi	2/1.0	720 (+24%)	44mo	$88,000	$122	39
309-311 Fairfield Ave	1.62mi	4/2.0 (+2)	696 (+20%)	23mo	$55,750	$80	7

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: 29.5%
• Equity multiple: 2.24×
• Total profit: $20,750
• Equity at exit: $8,946

10-year hold

• IRR: 36.9%
• Equity multiple: 4.42×
• Total profit: $57,458
• Equity at exit: $5,188

Cash invested: $16,800 (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 47111

• Active inventory: 346
• Price-to-rent: 4.2×

Monthly cashflow live

• Estimated rent: $1,203 medium
• Mortgage (P&I): −$315
• Tax from tax record: −$134 /mo · $1,602/yr
• Insurance: −$25
• HOA: −$0
• Vacancy / Maint / Mgmt: −$253
• Net cashflow: $478

Break-even live

Break-even rent $599

Max offer price $59,999

Occupancy floor 55%

Sensitivity live

Price	-10% $512	-5% $495	+0% $478	+5% $461	+10% $444
Rent	-10% $383	-5% $430	+0% $478	+5% $525	+10% $573
Rate	-1.0pp $508	-0.5pp $493	base $478	+0.5pp $462	+1.0pp $446

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: $15,000
• Closing costs: $1,800
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Listing history 19 events

1. 2026-06-25
   days on market $59,999 Active 23 DOM
2. 2026-06-22
   days on market $59,999 Active 21 DOM
3. 2026-06-21
   days on market $59,999 Active 20 DOM
4. 2026-06-18
   days on market $59,999 Active 17 DOM
5. 2026-06-17
   days on market $59,999 Active 16 DOM
6. 2026-06-16
   days on market $59,999 Active 15 DOM
7. 2026-06-15
   days on market $59,999 Active 14 DOM
8. 2026-06-13
   days on market $59,999 Active 12 DOM
9. 2026-06-13
   pricedays on market $59,999 Active 11 DOM
10. 2026-06-10
    days on market $69,999 Active 9 DOM
11. 2026-06-09
    days on market $69,999 Active 8 DOM
12. 2026-06-08
    days on market $69,999 Active 7 DOM
13. 2026-06-07
    days on market $69,999 Active 6 DOM
14. 2026-06-03
    days on market $69,999 Active 2 DOM
15. 2026-06-02
    days on marketlisting id $69,999 Active 1 DOM
16. 2026-04-22
    price $69,999 246-char remark
17. 2026-04-14
    price $74,999 246-char remark
18. 2026-03-23
    listed $79,999 Active 246-char remark
19. 2026-02-20
    price $79,999

ⓘ 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: $1,602 · $134/mo
• Projected year-2 tax: $1,602 · $134/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 4/10 Moderate 7 d/yr ≥104°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 · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $14,442
• − Mortgage interest: −$3,361
• − Property taxes: −$1,602
• − Insurance: −$300
• − Repairs & maintenance: −$1,155
• − Management: −$1,155
• − Depreciation: −$1,745
• Taxable income: $5,123
• Est. tax owed @ 24.0%: −$1,229
• After-tax cash flow: $4,502/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.

Condition & rehab AI · 9 photos

Fair 45/100 Moderate rehab Est. rehab $14,500–$26,100 screening

The home requires significant repairs to the roof and exterior siding, but has good flooring and interior walls. A repair of the roof and exterior siding would significantly increase its resale value.

Components & finishes AI

Flooring tile Appliances white

Repairs flagged

• Major roof — The roof appears to be in poor condition, with visible wear and tear.
• Moderate exterior siding — The exterior siding appears to be in fair condition, with some discoloration and wear.

Value-add opportunities

• Resale repair roof — A repaired roof will significantly increase the home's resale value. ↑
• Resale repair exterior siding — A repaired exterior siding will improve the home's curb appeal and increase its resale value. ↑

ⓘ Rehab cost is a screening estimate — Moderate scope × the home's square footage at US $/sqft rules of thumb (the same model as the Flip Finder). Get contractor quotes + a written scope before underwriting.

F Composite school gradezoned avg 34/100

Zoned Schools

Elementary Pleasant Ridge Elementary School Middle Charlestown Middle School F IN #197/330 Nat'l #8,497/14,009 High Charlestown Senior High School F IN #247/369 Nat'l #9,001/17,239

Schools (NCES district)

• District: Greater Clark County Schools
• NCES district ID: 1803940
• Math proficiency: 26% ▼ -15.00%
• Reading proficiency: 37% ▼ -13.00%
• Median HH income: $47,838
• Composite: 27.2/100
• National rank: #7020
• State rank: #224 of 301 in IN

C Composite livability gradescore 65/100

Livability — Charlestown

• Score: 65/100
• State rank: #352
• US rank: #13430

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Charlestown, IN
• County: Clark County · 126,401 people
• City population: 17,738
• Metro: Louisville/Jefferson County, KY-IN
• Population (ZIP): 17,738
• Household income: $95,376
• Rent vs Own: 13.4% rent · 86.6% own
• Severe rent burden: 8% of renters

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Population outlook (Clark County) Hauer SSP2

• Today (2025): 126,401 people
• By 2030: 131,455 · +4.0%
• By 2040: 140,471 · +11.1%
• By 2050: 147,677 · +16.8%
• By 2075: 161,702 · +27.9%
• By 2100: 164,078 · +29.8%

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Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (87%)
• Race & ethnicity: White 87% Two or more races 5% Hispanic / Latino 4% Black 3%
• Common ancestry: Italian 2% Lithuanian 2% Romanian 2%
• Foreign-born: 3% · Canada, China
• Languages at home: 95% English-only · Spanish 3% Chinese 1%

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Political lean MEDSL · Clark

• 2024 margin: Strong R (+20.4) · D 38.9% · R 59.3% · Other 1.8%
• 2008→2024 swing: -13.3pp toward R · 2008: -7.1pp · 2024: -20.4pp
• All cycles: 2024: R+20.4 2020: R+18.3 2016: R+22.0 2012: R+9.9 2008: R+7.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -126.16%
• Current HPI: 198.7046
• Rent YoY: —
• Metro: Louisville/Jefferson County, KY-IN
• State GDP YoY: ▲ 2.90%
• F500 in state: 18

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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

-25.0% since first listed

4 events — show timeline

• 2026-06-13 Price Changed $59,999 SIRA
• 2026-04-22 Price Changed $69,999 SIRA
• 2026-04-14 Price Changed $74,999 SIRA
• 2026-02-20 Price Changed $79,999 SIRA

Property tax history

+4.6%/yr

Latest (2024): $1,602 · +0.9% YoY. Source: county tax records.