132 N Kentucky Ave · Chandler, IN 47610

$175,000

3 bd · 1.0 ba · 1,480 sqft · SingleFamily public records · 86 Days on market

Built 1958 0.54 ac lot $118/sqft · 7% below area Est $187k · 7% 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 +17.5/30.0
• ARV discount +10.5/15.0
• DSCR +5.5/10.0
• Schools +4.9/10.0
• 1% rule +3.8/10.0
• Livability +3.3/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

2-bedroom, 1-bath home situated on a spacious . 54-acre lot on a peaceful dead-end street. Enjoy the large, additional living area and a versatile flex room, waiting to be finished to fit your family's needs. There are recently purchased kitchen appliances, an updated roof, and a new HVAC system. Outside, you can relax on the covered back porch. There are also multiple, large carport and storage areas for your convenience.

Key facts

• Spacious lot
• Flex room
• Updated roof

Tags

• SPACIOUS LOT
• ADDITIONAL LIVING AREA
• FLEX ROOM
• UPDATED ROOF
• NEW HVAC SYSTEM
• COVERED BACK PORCH

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $175k.

Deal economics

• At list price, monthly cash flow is $135 ($2k/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 $153k (12.4% below list).
• Recommended offer: $153k (12.4% below list) — sets the bar for 1% rule.
• Cap rate 7.2% vs local median 3.9% in Chandler — 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 66/100 on livability (#282 in IN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A; Watch: employment D+, amenities F, commute F.
• Warrick County School Corporation (suburban): math 54% / reading 59% proficiency, ranked #24 of 301 in IN (top 8%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 63 active listings in the ZIP; 249 units permitted in Warrick 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 $5k of value loss. Plan a longer hold.
• Warrick County population projected at +9% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• It's been on market 86 days — a 6% lower offer ($164k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1958 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $153,349 (12.4% below list)

Questions for the listing agent

1. It's been on market 86 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1958 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 0.88% ✗
• Cap rate: 7.22%
• Cash-on-cash: 3.29%
• DSCR: 1.15
• GRM: 9.5

CMA / ARV

• ARV (median comp): $187,392
• List price: $175,000
• Delta: -6.61%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
899 Inderrieden Rd	0.34mi	3/2.0	1,356 (-8%)	0mo	$185,000	$136	66
116 E Washington St	0.43mi	2/2.0 (-1)	1,470 (-1%)	9mo	$100,000	$68	62
216 S Kentucky Ave	0.24mi	3/1.5	1,302 (-12%)	8mo	$199,900	$154	60
999 Inderrieden Rd	0.41mi	3/2.0	1,573 (+6%)	9mo	$230,000	$146	58
302 Green Valley Dr	0.45mi	3/1.0	1,325 (-10%)	6mo	$187,000	$141	57
817 N Illinois St	0.52mi	3/1.0	1,325 (-10%)	2mo	$191,000	$144	57
201 E Williams St	0.44mi	4/2.0 (+1)	1,414 (-4%)	12mo	$219,500	$155	52
301 N State St	0.40mi	2/2.0 (-1)	1,652 (+12%)	4mo	$125,000	$76	50
509 E Jefferson Ave	0.67mi	3/2.0	1,670 (+13%)	0mo	$230,500	$138	43
220 S 4th St	0.61mi	4/2.0 (+1)	1,416 (-4%)	15mo	$125,500	$89	43
526 E Jackson Ave	0.73mi	3/1.0	1,344 (-9%)	11mo	$216,000	$161	41
510 E Madison Ave	0.66mi	4/2.0 (+1)	1,632 (+10%)	13mo	$219,900	$135	32

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: -11.2%
• Equity multiple: 0.59×
• Total profit: $-19,847
• Equity at exit: $26,093

10-year hold

• IRR: -2.0%
• Equity multiple: 0.87×
• Total profit: $-6,486
• Equity at exit: $15,131

Cash invested: $49,000 (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 47610

• Home prices YoY: -23.6%
• Active inventory: 63
• Price-to-rent: 9.5×

Monthly cashflow live

• Estimated rent: $1,533 medium
• Mortgage (P&I): −$918
• Tax from tax record: −$86 /mo · $1,035/yr
• Insurance: −$73
• HOA: −$0
• Vacancy / Maint / Mgmt: −$322
• Net cashflow: $135

Break-even live

Break-even rent $1,363

Max offer price $175,000

Occupancy floor 86%

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: $43,750
• Closing costs: $5,250
• Reserves months: —
• Total cash needed: —

Listing history 15 events

1. 2026-06-18
   days on market $175,000 Active 86 DOM
2. 2026-06-17
   days on market $175,000 Active 85 DOM
3. 2026-06-16
   days on market $175,000 Active 84 DOM
4. 2026-06-15
   days on market $175,000 Active 83 DOM
5. 2026-06-14
   days on market $175,000 Active 81 DOM
6. 2026-06-13
   days on market $175,000 Active 80 DOM
7. 2026-06-10
   days on market $175,000 Active 78 DOM
8. 2026-06-09
   days on market $175,000 Active 77 DOM
9. 2026-06-08
   days on market $175,000 Active 76 DOM
10. 2026-06-07
    days on market $175,000 Active 75 DOM
11. 2026-06-02
    days on market $175,000 Active 70 DOM
12. 2026-06-01
    days on market $175,000 Active 69 DOM
13. 2026-05-31
    days on market $175,000 Active 68 DOM
14. 2026-05-30
    days on market $175,000 Active 67 DOM
15. 2026-03-24
    listed $180,000 Active 426-char remark

    Show marketing remark (426 chars)

    2-bedroom, 1-bath home situated on a spacious . 54-acre lot on a peaceful dead-end street. Enjoy the large, additional living area and a versatile flex room, waiting to be finished to fit your family's needs. There are recently purchased kitchen appliances, an updated roof, and a new HVAC system. Outside, you can relax on the covered back porch. There are also multiple, large carport and storage areas for your convenience.

ⓘ 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: $1,035 · $86/mo
• Projected year-2 tax: $1,261 · $105/mo
• Expected delta: +$226/yr (+$19/mo · 21.8%)

ⓘ 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 1/10 Low
• 🌡 Heat 5/10 Major 7 d/yr ≥106°F today · 19 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 4% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 4 unhealthy d/yr today · 6 by 30 yrs out

Taxation est. · year 1

• Rental income: $18,402
• − Mortgage interest: −$9,803
• − Property taxes: −$1,035
• − Insurance: −$875
• − Repairs & maintenance: −$1,472
• − Management: −$1,472
• − Depreciation: −$5,091
• Taxable loss: −$1,346
• Est. tax savings @ 24.0%: +$323
• After-tax cash flow: $1,938/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: Warrick County School Corporation
• NCES district ID: 1812390
• Math proficiency: 54% ▼ -8.00%
• Reading proficiency: 59% ▼ -6.00%
• Median HH income: $62,801
• Composite: 49.38/100
• National rank: #2014
• State rank: #24 of 301 in IN

Livability — Chandler

• Score: 66/100
• State rank: #282
• US rank: #11582

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Chandler, IN
• Population (ZIP): 5,695

Population outlook (Warrick County) Hauer SSP2

• Today (2025): 66,569 people
• By 2030: 68,404 · +2.8%
• By 2040: 71,131 · +6.9%
• By 2050: 72,743 · +9.3%
• By 2075: 76,088 · +14.3%
• By 2100: 72,261 · +8.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (95%)
• Race & ethnicity: White 95% Two or more races 5%
• Common ancestry: Lithuanian 3% Italian 2% Slovak 1%
• Foreign-born: 1%
• Languages at home: 98% English-only · Tagalog/Filipino 1%

Political lean MEDSL · Warrick

• 2024 margin: Solid R (+30.2) · D 34.1% · R 64.3% · Other 1.5%
• 2008→2024 swing: -17.4pp toward R · 2008: -12.8pp · 2024: -30.2pp
• All cycles: 2024: R+30.2 2020: R+27.8 2016: R+33.9 2012: R+26.6 2008: R+12.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -72.36%
• Current HPI: 234.6102
• 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

1 event — show timeline

• 2026-03-24 Listed $180,000 IRMLS

Property tax history

+7.8%/yr

Latest (2024): $1,035 · +13.2% YoY. Source: county tax records.