2310 S 19th St · New Castle, IN 47362

$95,000

2 bd · 1.0 ba · 1,008 sqft · SingleFamily public records · 104 Days on market

Built 1945 5,619 sqft lot $94/sqft · 21% below area Est $121k · 21% under ↓ 25% since listing

---

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 +18.8/30.0
• ARV discount +15.0/15.0
• DSCR +5.9/10.0
• 1% rule +5.0/10.0
• Livability +3.8/5.0
• Rent growth +3.6/5.0
• Schools +2.7/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Charming 2 Bedroom, 2 Bath Home with Spacious Backyard. Welcome home to this inviting 2-bedroom, 2-bath property offering comfort, space, and functionality. The home features a large kitchen with plenty of room for cooking, gathering, and entertaining, flowing easily into a cozy living room perfect for relaxing or hosting guests. Step outside to enjoy a big backyard, ideal for pets, play, gardening, or future outdoor projects. A detached shed provides extra storage for tools, hobbies, or seasonal items. Whether you’re a first-time buyer, downsizing, or looking for a great investment, this home offers a practical layout with room to grow—inside and out. Close to schools, park and other amenities. All items in the home go with the sale of the property.

Key facts

• Close to schools
• Cozy living room
• Spacious backyard

Tags

• SPACIOUS BACKYARD
• LARGE KITCHEN
• COZY LIVING ROOM
• DETACHED SHED
• CLOSE TO SCHOOLS
• CLOSE TO PARK

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $95k.

Deal economics

• At list price, monthly cash flow is $96 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($953 rent vs $95k).
• Recommended offer: $86k (9.0% below list) — sets the bar for market timing.
• Cap rate 7.5% vs local median 4.8% in New Castle — 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 75/100 on livability (#64 in IN, #4,219 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: schools D+, amenities F, commute F.
• New Castle Community School Corporation (town): math 30% / reading 35% proficiency, ranked #229 of 301 in IN (top 76%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising fast (+4.6%/yr); 214 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals leasing fast (median 2d on market — plan ~1-2 weeks tenant-placement turnaround); 47 units permitted in Henry County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $657 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Henry County population projected at -12% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 104 days — a 9% lower offer ($86k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1945 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $86,450 (9.0% below list)

Questions for the listing agent

1. It's been on market 104 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1945 — 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: 1.00% ✓
• Cap rate: 7.51%
• Cash-on-cash: 4.34%
• DSCR: 1.19
• GRM: 8.3

CMA / ARV

• ARV (median comp): $120,721
• List price: $95,000
• Delta: -21.31%
• 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
1614 P Ave	0.19mi	2/1.0	960 (-5%)	2mo	$119,000	$124	82
2803 S 23rd St	0.34mi	2/1.0	960 (-5%)	1mo	$75,000	$78	76
2114 S 18th St	0.14mi	2/1.0	912 (-10%)	3mo	$50,000	$55	75
1631 P Ave	0.13mi	2/1.0	904 (-10%)	4mo	$106,000	$117	73
1929 N Ave	0.14mi	3/1.5 (+1)	936 (-7%)	4mo	$89,900	$96	71
2117 Cherrywood Ave	0.28mi	2/1.0	1,088 (+8%)	6mo	$112,000	$103	69
1610 Roosevelt Ave	0.53mi	2/1.0	1,000 (-1%)	6mo	$145,000	$145	69
2922 Sunnyside Ave	0.44mi	2/1.0	980 (-3%)	7mo	$70,000	$71	69
1909 Cherrywood Ave	0.35mi	2/1.0	922 (-8%)	6mo	$147,500	$160	64
1725 Hunter Ave	0.65mi	3/1.0 (+1)	1,007 (-0%)	1mo	$110,000	$109	64
1738 Morton St	0.72mi	3/1.0 (+1)	1,120 (+11%)	5mo	$115,000	$103	39
1734 Morton St	0.72mi	3/1.0 (+1)	1,120 (+11%)	5mo	$115,000	$103	39

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 · 4.59% rent growth · sell at horizon

5-year hold

• IRR: -7.7%
• Equity multiple: 0.71×
• Total profit: $-7,702
• Equity at exit: $14,165

10-year hold

• IRR: 3.8%
• Equity multiple: 1.29×
• Total profit: $7,807
• Equity at exit: $8,214

Cash invested: $26,600 (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 47362

• Home prices YoY: -16.0%
• Rents YoY: 4.6%
• Active inventory: 214
• Price-to-rent: 8.3×

Monthly cashflow live

• Estimated rent: $953 medium
• Mortgage (P&I): −$498
• Tax est. 1.5%: −$119 /mo · $1,425/yr
• Insurance: −$40
• HOA: −$0
• Vacancy / Maint / Mgmt: −$200
• Net cashflow: $96

Break-even live

Break-even rent $831

Max offer price $95,000

Occupancy floor 85%

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: $23,750
• Closing costs: $2,850
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1618 P Ave New Castle, IN	3.0	1.5	1064	$950	$0.89	1d	1	0.17mi
1216 S 19th St New Castle, IN	2.0	1.0	824	$1,000	$1.21	23d	1	0.69mi
940 S 15th St New Castle, IN	1.0–2.0	1.0–1.5	816	$1,075	$1.32	1d	2	0.88mi

Listing history 5 events

1. 2026-05-20
   price $95,000 772-char remark

   Show marketing remark (772 chars)

   Charming 2 Bedroom, 2 Bath Home with Spacious Backyard. Welcome home to this inviting 2-bedroom, 2-bath property offering comfort, space, and functionality. The home features a large kitchen with plenty of room for cooking, gathering, and entertaining, flowing easily into a cozy living room perfect for relaxing or hosting guests. Step outside to enjoy a big backyard, ideal for pets, play, gardening, or future outdoor projects. A detached shed provides extra storage for tools, hobbies, or seasonal items. Whether you’re a first-time buyer, downsizing, or looking for a great investment, this home offers a practical layout with room to grow—inside and out. Close to schools, park and other amenities. All items in the home go with the sale of the property.

2. 2026-05-01
   price $109,000 772-char remark

   Show marketing remark (772 chars)

   Charming 2 Bedroom, 2 Bath Home with Spacious Backyard. Welcome home to this inviting 2-bedroom, 2-bath property offering comfort, space, and functionality. The home features a large kitchen with plenty of room for cooking, gathering, and entertaining, flowing easily into a cozy living room perfect for relaxing or hosting guests. Step outside to enjoy a big backyard, ideal for pets, play, gardening, or future outdoor projects. A detached shed provides extra storage for tools, hobbies, or seasonal items. Whether you’re a first-time buyer, downsizing, or looking for a great investment, this home offers a practical layout with room to grow—inside and out. Close to schools, park and other amenities. All items in the home go with the sale of the property.

3. 2026-03-31
   price $119,000 772-char remark

   Show marketing remark (772 chars)

   Charming 2 Bedroom, 2 Bath Home with Spacious Backyard. Welcome home to this inviting 2-bedroom, 2-bath property offering comfort, space, and functionality. The home features a large kitchen with plenty of room for cooking, gathering, and entertaining, flowing easily into a cozy living room perfect for relaxing or hosting guests. Step outside to enjoy a big backyard, ideal for pets, play, gardening, or future outdoor projects. A detached shed provides extra storage for tools, hobbies, or seasonal items. Whether you’re a first-time buyer, downsizing, or looking for a great investment, this home offers a practical layout with room to grow—inside and out. Close to schools, park and other amenities. All items in the home go with the sale of the property.

4. 2026-03-10
   price $124,900 772-char remark

   Show marketing remark (772 chars)

   Charming 2 Bedroom, 2 Bath Home with Spacious Backyard. Welcome home to this inviting 2-bedroom, 2-bath property offering comfort, space, and functionality. The home features a large kitchen with plenty of room for cooking, gathering, and entertaining, flowing easily into a cozy living room perfect for relaxing or hosting guests. Step outside to enjoy a big backyard, ideal for pets, play, gardening, or future outdoor projects. A detached shed provides extra storage for tools, hobbies, or seasonal items. Whether you’re a first-time buyer, downsizing, or looking for a great investment, this home offers a practical layout with room to grow—inside and out. Close to schools, park and other amenities. All items in the home go with the sale of the property.

5. 2026-02-11
   listed $127,000 Active 772-char remark

   Show marketing remark (772 chars)

   Charming 2 Bedroom, 2 Bath Home with Spacious Backyard. Welcome home to this inviting 2-bedroom, 2-bath property offering comfort, space, and functionality. The home features a large kitchen with plenty of room for cooking, gathering, and entertaining, flowing easily into a cozy living room perfect for relaxing or hosting guests. Step outside to enjoy a big backyard, ideal for pets, play, gardening, or future outdoor projects. A detached shed provides extra storage for tools, hobbies, or seasonal items. Whether you’re a first-time buyer, downsizing, or looking for a great investment, this home offers a practical layout with room to grow—inside and out. Close to schools, park and other amenities. All items in the home go with the sale of the property.

ⓘ 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 3/10 Moderate 7 d/yr ≥99°F today · 18 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: $11,434
• − Mortgage interest: −$5,321
• − Property taxes: −$1,425
• − Insurance: −$475
• − Repairs & maintenance: −$915
• − Management: −$915
• − Depreciation: −$2,764
• Taxable loss: −$380
• Est. tax savings @ 24.0%: +$91
• After-tax cash flow: $1,246/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 Castle Community School Corporation
• NCES district ID: 1807440
• Math proficiency: 30% ▼ -13.00%
• Reading proficiency: 35% ▼ -9.00%
• Median HH income: $36,717
• Composite: 26.99/100
• National rank: #7067
• State rank: #229 of 301 in IN

Livability — New Castle

• Score: 75/100
• State rank: #64
• US rank: #4219

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: New Castle, IN
• County: Henry County · 29,337 people
• City population: 29,337
• Metro: New Castle, IN
• Population (ZIP): 29,337
• Household income: $60,258
• Rent vs Own: 27.6% rent · 72.4% own
• Severe rent burden: 545.0

Population outlook (Henry County) Hauer SSP2

• Today (2025): 48,028 people
• By 2030: 47,125 · -1.9%
• By 2040: 44,820 · -6.7%
• By 2050: 42,207 · -12.1%
• By 2075: 35,814 · -25.4%
• By 2100: 26,779 · -44.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (90%)
• Race & ethnicity: White 90% Two or more races 3% Black 3% Hispanic / Latino 3%
• Common ancestry: Italian 2% Slovak 1% Lithuanian 1%
• Foreign-born: 2% · Canada
• Languages at home: 97% English-only · Spanish 2%

Political lean MEDSL · Henry

• 2024 margin: Solid R (+47.7) · D 25.3% · R 73.0% · Other 1.7%
• 2008→2024 swing: -43.8pp toward R · 2008: -3.9pp · 2024: -47.7pp
• All cycles: 2024: R+47.7 2020: R+45.2 2016: R+43.7 2012: R+17.0 2008: R+3.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -43.70%
• Current HPI: 228.8885
• Rent YoY: ▲ 4.59%
• Metro: New Castle, IN
• 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

-25.2% since first listed

5 events — show timeline

• 2026-05-20 Price Changed $95,000 RRELMS
• 2026-05-01 Price Changed $109,000 RRELMS
• 2026-03-31 Price Changed $119,000 RRELMS
• 2026-03-10 Price Changed $124,900 RRELMS
• 2026-02-11 Listed $127,000 RRELMS

Property tax history

+3.2%/yr

Latest (2020): $26 · +0.0% YoY. Source: county tax records.