612 S Gibson St · Princeton, IN 47670

$99,500

2 bd · 1.0 ba · 1,116 sqft · SingleFamily public records · 62 Days on market

Built 1902 7,405 sqft lot $89/sqft · 17% below area Est $119k · 17% under ↓ 8% since listing

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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 +21.1/30.0
• ARV discount +15.0/15.0
• DSCR +6.7/10.0
• 1% rule +5.6/10.0
• Livability +3.6/5.0
• Schools +2.7/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to 612 S Gibson Street! This home features high ceilings, lots of storage space, a sunroom, covered parking & fenced in back yard. Spacious living room features a bay window and is open to a large dining room. Kitchen is complete with updated cabinetry and included appliances. Main floor laundry room is conveniently located and has washer & dryer included. The front bedroom features a walk-in closet and a 2nd closet. 2nd Bedroom is located off the dining room and connects to the full bathroom. Bathroom has a recently upgraded step-in fiberglass shower with built-in seat. Updates per seller: New Gas Furnace (Dec 2025), Water Heater (2023), New Roof over Laundry Room (2026), Vinyl Windows Throughout. Home is an estate sale and is being sold "as-is. " Sellers are including a 1 year supreme coverage home warranty for added buyer protection.

Key facts

• Covered parking
• Sunroom
• Fenced in back yard

Tags

• HIGH CEILINGS
• SUNROOM
• COVERED PARKING
• FENCED IN BACK YARD
• UPDATED CABINETRY
• INCLUDED APPLIANCES

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $100k.

Deal economics

• At list price, monthly cash flow is $142 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $100k).
• Recommended offer: $94k (6.0% below list) — sets the bar for market timing.
• Cap rate 8.0% vs local median 4.7% in Princeton — 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 71/100 on livability (#131 in IN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: employment C-, schools D, amenities F.
• North Gibson School Corporation (rural): math 28% / reading 36% proficiency, ranked #223 of 301 in IN (top 74%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 143 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; 167 units permitted in Gibson County in 2024 (68 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $688 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Gibson County population projected to shrink 10% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.

Negotiation context

• It's been on market 62 days — a 6% lower offer ($94k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $9k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1902 — 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 $93,530 (6.0% below list)

Questions for the listing agent

1. It's been on market 62 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1902 — 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. 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: 1.06% ✓
• Cap rate: 8.01%
• Cash-on-cash: 6.12%
• DSCR: 1.27
• GRM: 7.9

CMA / ARV

• ARV (median comp): $119,281
• List price: $99,500
• Delta: -16.58%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
820 S Stormont St	0.25mi	2/1.0	1,045 (-6%)	2mo	$113,000	$108	76
613 S Prince St	0.09mi	2/1.0	1,000 (-10%)	5mo	$79,600	$80	75
709 S Race St	0.12mi	2/2.0	1,216 (+9%)	4mo	$164,900	$136	72
906 E State St	0.69mi	2/1.0	1,102 (-1%)	0mo	$60,000	$54	65
805 S Stormont St	0.22mi	2/2.0	968 (-13%)	0mo	$131,000	$135	63
506 W Monroe St	0.46mi	3/2.0 (+1)	1,160 (+4%)	3mo	$175,000	$151	60
911 E Kentucky St	0.59mi	3/2.0 (+1)	1,120 (+0%)	4mo	$160,000	$143	60
403 E Illinois St	0.20mi	3/1.5 (+1)	960 (-14%)	2mo	$167,900	$175	59
1313 S Baldwin Ct	0.60mi	3/2.0 (+1)	1,081 (-3%)	2mo	$224,900	$208	56
508 N Race St	0.70mi	2/1.0	1,052 (-6%)	5mo	$15,000	$14	54
318 N Seminary St	0.57mi	3/1.0 (+1)	1,198 (+7%)	4mo	$132,000	$110	53
417 E Walnut St	0.66mi	3/2.0 (+1)	1,080 (-3%)	4mo	$190,000	$176	52

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: -6.8%
• Equity multiple: 0.75×
• Total profit: $-7,056
• Equity at exit: $14,836

10-year hold

• IRR: 2.8%
• Equity multiple: 1.20×
• Total profit: $5,576
• Equity at exit: $8,603

Cash invested: $27,860 (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 47670

• Home prices YoY: -32.2%
• Active inventory: 143
• Price-to-rent: 7.9×

Monthly cashflow live

• Estimated rent: $1,050 medium
• Mortgage (P&I): −$522
• Tax est. 1.5%: −$124 /mo · $1,492/yr
• Insurance: −$41
• HOA: −$0
• Vacancy / Maint / Mgmt: −$221
• Net cashflow: $142

Break-even live

Break-even rent $870

Max offer price $99,500

Occupancy floor 81%

Sensitivity live

Price	-10% $211	-5% $177	+0% $142	+5% $108	+10% $73
Rent	-10% $59	-5% $101	+0% $142	+5% $184	+10% $225
Rate	-1.0pp $192	-0.5pp $167	base $142	+0.5pp $116	+1.0pp $90

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: $24,875
• Closing costs: $2,985
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
318 S Gibson St Unit A Princeton, IN	1.0	1.0	750	$795	$1.06	44d	1	0.17mi
102 N Seminary St Princeton, IN	2.0	1.0	884	$995	$1.13	44d	1	0.38mi
220 W Garfield Ave Princeton, IN	2.0	1.0	1000	$1,700	$1.70	44d	2	0.57mi
629 S Second Ave Princeton, IN	1.0–3.0	1.0–2.0	1001	$1,188	$1.19	44d	29	1.30mi

Listing history 8 events

1. 2026-06-01
   status $99,500 Pending 62 DOM
2. 2026-06-01
   days on market $99,500 Active 62 DOM
3. 2026-05-31
   days on market $99,500 Active 61 DOM
4. 2026-05-31
   days on market $99,500 Active 60 DOM
5. 2026-05-15
   status Active 878-char remark

   Show marketing remark (878 chars)

   Welcome to 612 S Gibson Street! This home features high ceilings, lots of storage space, a sunroom, covered parking & fenced in back yard. Spacious living room features a bay window and is open to a large dining room. Kitchen is complete with updated cabinetry and included appliances. Main floor laundry room is conveniently located and has washer & dryer included. The front bedroom features a walk-in closet and a 2nd closet. 2nd Bedroom is located off the dining room and connects to the full bathroom. Bathroom has a recently upgraded step-in fiberglass shower with built-in seat. Updates per seller: New Gas Furnace (Dec 2025), Water Heater (2023), New Roof over Laundry Room (2026), Vinyl Windows Throughout. Home is an estate sale and is being sold "as-is. " Sellers are including a 1 year supreme coverage home warranty for added buyer protection.

6. 2026-05-04
   status Pending 878-char remark

   Show marketing remark (878 chars)

   Welcome to 612 S Gibson Street! This home features high ceilings, lots of storage space, a sunroom, covered parking & fenced in back yard. Spacious living room features a bay window and is open to a large dining room. Kitchen is complete with updated cabinetry and included appliances. Main floor laundry room is conveniently located and has washer & dryer included. The front bedroom features a walk-in closet and a 2nd closet. 2nd Bedroom is located off the dining room and connects to the full bathroom. Bathroom has a recently upgraded step-in fiberglass shower with built-in seat. Updates per seller: New Gas Furnace (Dec 2025), Water Heater (2023), New Roof over Laundry Room (2026), Vinyl Windows Throughout. Home is an estate sale and is being sold "as-is. " Sellers are including a 1 year supreme coverage home warranty for added buyer protection.

7. 2026-04-13
   price $99,500 878-char remark

   Show marketing remark (878 chars)

   Welcome to 612 S Gibson Street! This home features high ceilings, lots of storage space, a sunroom, covered parking & fenced in back yard. Spacious living room features a bay window and is open to a large dining room. Kitchen is complete with updated cabinetry and included appliances. Main floor laundry room is conveniently located and has washer & dryer included. The front bedroom features a walk-in closet and a 2nd closet. 2nd Bedroom is located off the dining room and connects to the full bathroom. Bathroom has a recently upgraded step-in fiberglass shower with built-in seat. Updates per seller: New Gas Furnace (Dec 2025), Water Heater (2023), New Roof over Laundry Room (2026), Vinyl Windows Throughout. Home is an estate sale and is being sold "as-is. " Sellers are including a 1 year supreme coverage home warranty for added buyer protection.

8. 2026-03-19
   listed $108,500 Active 878-char remark

   Show marketing remark (878 chars)

   Welcome to 612 S Gibson Street! This home features high ceilings, lots of storage space, a sunroom, covered parking & fenced in back yard. Spacious living room features a bay window and is open to a large dining room. Kitchen is complete with updated cabinetry and included appliances. Main floor laundry room is conveniently located and has washer & dryer included. The front bedroom features a walk-in closet and a 2nd closet. 2nd Bedroom is located off the dining room and connects to the full bathroom. Bathroom has a recently upgraded step-in fiberglass shower with built-in seat. Updates per seller: New Gas Furnace (Dec 2025), Water Heater (2023), New Roof over Laundry Room (2026), Vinyl Windows Throughout. Home is an estate sale and is being sold "as-is. " Sellers are including a 1 year supreme coverage home warranty for added buyer protection.

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

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 3% 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: $12,604
• − Mortgage interest: −$5,574
• − Property taxes: −$1,492
• − Insurance: −$498
• − Repairs & maintenance: −$1,008
• − Management: −$1,008
• − Depreciation: −$2,895
• Taxable income: $129
• Est. tax owed @ 24.0%: −$31
• After-tax cash flow: $1,675/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 Gibson School Corporation
• NCES district ID: 1807770
• Math proficiency: 28% ▼ -10.00%
• Reading proficiency: 36% ▼ -4.00%
• Median HH income: $44,595
• Composite: 27.32/100
• National rank: #6992
• State rank: #223 of 301 in IN

Livability — Princeton

• Score: 71/100
• State rank: #131
• US rank: #6840

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Princeton, IN
• Population (ZIP): 11,638

Population outlook (Gibson County) Hauer SSP2

• Today (2025): 33,671 people
• By 2030: 33,409 · -0.8%
• By 2040: 32,364 · -3.9%
• By 2050: 30,453 · -9.6%
• By 2075: 24,610 · -26.9%
• By 2100: 16,217 · -51.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (85%)
• Race & ethnicity: White 85% Black 5% Hispanic / Latino 4% Two or more races 4%
• Common ancestry: Lithuanian 2% Slovak 2% Serbian 1%
• Foreign-born: 3% · Canada
• Languages at home: 95% English-only · Spanish 3% Other Asian/Pacific 1%

Political lean MEDSL · Gibson

• 2024 margin: Solid R (+51.4) · D 23.4% · R 74.8% · Other 1.8%
• 2008→2024 swing: -38.2pp toward R · 2008: -13.2pp · 2024: -51.4pp
• All cycles: 2024: R+51.4 2020: R+48.2 2016: R+47.6 2012: R+31.0 2008: R+13.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -104.47%
• Current HPI: 219.932
• 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

-8.3% since first listed

4 events — show timeline

• 2026-05-15 Relisted — IRMLS
• 2026-05-04 Pending — IRMLS
• 2026-04-13 Price Changed $99,500 IRMLS
• 2026-03-19 Listed $108,500 IRMLS

Property tax history

+0.0%/yr

Latest (2020): $18 · +0.0% YoY. Source: county tax records.