909 S Parkside Dr · Greensburg, IN 47240

$185,000

3 bd · 1.0 ba · 1,248 sqft · SingleFamily public records · 7 Days on market

Built 1960 0.27 ac lot Est $206k · 10% 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 +12.1/15.0
• DSCR +5.5/10.0
• Schools +3.8/10.0
• Livability +3.5/5.0
• 1% rule +3.4/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

WELL MAINTAINED 3 BR 1 BA HOME! Features a family room AND living room, eat-in kitchen WITH NEWER KITCHEN CABINETS AND COUNTERTOPS, 1 car garage. NEUTRAL COLORS THROUGHOUT! Nice size yard over a 1/4 of an acre.

Key facts

• 0.27 acre lot
• Garage
• Built 1960

Property features AI

Finance

• Other: Approximately 0.27 acre lot

Exterior

• Parking: Attached garage (1 car)
• Security: Smoke alarm; Sump pump
• Utilities: Public water; Municipal sewer connection; Natural gas connected; Cable available
• Home design: Single family residence; One story
• Construction: Vinyl siding; Block foundation
• Exterior features: Covered patio

Interior

• Kitchen: Eat-in kitchen (17x11)
• Bedrooms: 3 bedrooms on the main level (Bedroom 2: 11x10, Bedroom 3: 10x9)
• Flooring: Hardwood floors
• Bathrooms: 1 full bathroom on the main level
• Heating & cooling: Forced air heating (natural gas); Central air conditioning
• Interior features: Attic access; Hardwood floors; Stained/painted woodwork; Eat-in kitchen; Living room (formal)
• Laundry & utility: Main level laundry (9x6); Washer included; Gas water heater

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $185k.

Deal economics

• At list price, monthly cash flow is $141 ($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 $155k (16.2% below list).
• Recommended offer: $155k (16.2% below list) — sets the bar for 1% rule.
• Cap rate 7.2% vs local median 5.9% in Greensburg — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

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; 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 $6k 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.

Negotiation context

• Only 7 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 4y 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 $140k; 32% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Recommended offer $154,992 (16.2% below list)

Questions for the listing agent

1. Built in 1960 — 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: 0.84% ✗
• Cap rate: 7.21%
• Cash-on-cash: 3.26%
• DSCR: 1.15
• GRM: 9.9

CMA / ARV

• ARV (on-the-fly): $205,920
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
903 S Creek Dr E	0.13mi	3/2.0	1,170 (-6%)	5mo	$225,000	$192	75
921 S Creek Dr E	0.13mi	3/2.0	1,152 (-8%)	4mo	$258,000	$224	74
505 W Main St	0.52mi	2/1.0 (-1)	1,248 (0%)	2mo	$85,000	$68	70
212 W Wilson St	0.32mi	3/2.0	1,186 (-5%)	10mo	$196,000	$165	65
402 S Broadway St	0.44mi	3/1.0	1,195 (-4%)	13mo	$149,000	$125	62
434 W Main St	0.55mi	3/1.0	1,216 (-3%)	14mo	$185,000	$152	59
402 W Washington St	0.63mi	3/1.0	1,328 (+6%)	2mo	$170,000	$128	58
327 W Forsythe St	0.30mi	3/2.0	1,144 (-8%)	13mo	$175,000	$153	57
1009 S Creek Dr W	0.20mi	3/2.0	1,429 (+14%)	12mo	$249,000	$174	52
704 S Ryle S	0.60mi	3/1.5	1,160 (-7%)	19mo	$211,000	$182	43
605 S Ryle Dr	0.56mi	3/1.5	1,372 (+10%)	18mo	$247,000	$180	40
328 N Carver St	0.74mi	3/2.0	1,340 (+7%)	11mo	$200,000	$149	40

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: $-21,099
• Equity at exit: $27,584

10-year hold

• IRR: -2.1%
• Equity multiple: 0.86×
• Total profit: $-7,207
• Equity at exit: $15,995

Cash invested: $51,800 (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 47240

• Home prices YoY: -25.0%
• Active inventory: 155
• Price-to-rent: 9.9×

Monthly cashflow live

• Estimated rent: $1,550 medium
• Mortgage (P&I): −$970
• Tax from tax record: −$36 /mo · $435/yr
• Insurance: −$77
• HOA: −$0
• Vacancy / Maint / Mgmt: −$325
• Net cashflow: $141

Break-even live

Break-even rent $1,372

Max offer price $185,000

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: $46,250
• Closing costs: $5,550
• Reserves months: —
• Total cash needed: —

Listing history 7 events

1. 2026-06-18
   days on market $185,000 Active 7 DOM
2. 2026-06-17
   days on market $185,000 Active 6 DOM
3. 2026-06-16
   days on market $185,000 Active 5 DOM
4. 2026-06-15
   days on market $185,000 Active 4 DOM
5. 2026-06-13
   days on market $185,000 Active 2 DOM
6. 2026-06-07
   remarks 121-char remark
7. 2026-06-07
   listed $185,000 Active 1 DOM

ⓘ 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: $435 · $36/mo
• Projected year-2 tax: $1,004 · $84/mo
• Expected delta: +$569/yr (+$47/mo · 130.7%)

ⓘ 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 3/10 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: $18,599
• − Mortgage interest: −$10,363
• − Property taxes: −$435
• − Insurance: −$925
• − Repairs & maintenance: −$1,488
• − Management: −$1,488
• − Depreciation: −$5,382
• Taxable loss: −$1,482
• Est. tax savings @ 24.0%: +$356
• After-tax cash flow: $2,047/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

+15.7% since first listed

5 events — show timeline

• 2026-06-06 Listed $185,000 MIBOR as Distributed by MLS Grid
• 2023-01-20 Sold (MLS) $140,000 MIBOR as Distributed by MLS Grid
• 2022-12-05 Pending — MIBOR as Distributed by MLS Grid
• 2022-11-22 Price Changed $154,900 MIBOR as Distributed by MLS Grid
• 2022-10-20 Listed $159,900 MIBOR as Distributed by MLS Grid

Property tax history

-0.2%/yr

Latest (2023): $435 · +2.0% YoY. Source: county tax records.