114 E Saint Joe Rd · Sellersburg, IN 47172

$114,500

2 bd · 1.0 ba · 1,080 sqft · SingleFamily public records · 325 Days on market

Built 1950 0.33 ac lot $106/sqft · 37% below area Est $182k · 37% under

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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 +25.0/30.0
• ARV discount +15.0/15.0
• DSCR +8.1/10.0
• 1% rule +6.8/10.0
• Schools +5.0/10.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Priced to sell. This 2 bed 1 Bath located in Sellersburg. Move in ready, 2 car detached garage.

Key facts

• 0.33 acre lot
• 2 garage spots
• Built 1950

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $114k.

Deal economics

• At list price, monthly cash flow is $-178 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $83k (27.5% below list).
• Meets the 1% rule at list price ($1k rent vs $114k).
• Recommended offer: $83k (27.5% below list) — sets the bar for cash-flow.
• Cap rate 8.9% vs local median 3.9% in Sellersburg — 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 73/100 on livability (#85 in IN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A-; Watch: commute D+, health & safety D+, amenities F.
• Zoned schools: Silver Creek Middle School (math 31% / reading 43%, grade F, #152 of 330 statewide, top 47%, 760 students, 33% FRL); Silver Creek High School (math 27% / reading 67%, grade D-, #143 of 369 statewide, top 44%, 935 students, 31% FRL).
• Market conditions: 149 active listings in the ZIP; 1 comparable units currently listed for rent nearby; solid renter incomes; 911 units permitted in Clark County in 2024 (133 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $792 of loan paydown is wiped out by about $3k 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.

Negotiation context

• It's been on market 325 days — a 12% lower offer ($101k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 12y ago; this cycle's ask has dropped $40k (26%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $22k; list at $114k implies a 420% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $427/mo; built in 1950 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance); extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $83,039 (27.5% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 325 days. Have you received any prior offers? Is the seller open to a 27% concession, seller financing, or rate buy-down credit?
3. Built in 1950 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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.
9. 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.
10. 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: 1.18% ✓
• Cap rate: 8.90%
• Cash-on-cash: 9.30%
• DSCR: 1.41
• GRM: 7.1

CMA / ARV

• ARV (median comp): $182,334
• List price: $114,500
• Delta: -37.20%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 10 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
177 Indiana Ave	0.14mi	2/1.0	986 (-9%)	10mo	$179,900	$182	70
318 E Saint Joe Rd	0.29mi	2/1.0	1,120 (+4%)	13mo	$189,000	$169	69
227 Virginia Ave	0.33mi	3/1.0 (+1)	1,118 (+4%)	6mo	$170,000	$152	68
610 Lincoln Blvd	0.53mi	2/1.0	1,072 (-1%)	22mo	$127,000	$118	56
604 Lincoln Blvd	0.52mi	2/1.0	1,232 (+14%)	1mo	$199,900	$162	52
604 Lincoln Blvd	0.52mi	2/1.0	1,232 (+14%)	7mo	$95,101	$77	47
215 Bottorff Dr	0.73mi	3/1.0 (+1)	1,144 (+6%)	12mo	$209,000	$183	41
16 Maple St	0.73mi	3/1.0 (+1)	996 (-8%)	16mo	$197,000	$198	34
877 Beechwood St	0.50mi	3/1.5 (+1)	1,242 (+15%)	16mo	$269,900	$217	32
15 Maple St	0.74mi	3/2.0 (+1)	1,196 (+11%)	24mo	$245,000	$205	19

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: -27.4%
• Equity multiple: 0.08×
• Total profit: $-29,597
• Equity at exit: $17,072

10-year hold

• IRR: -24.3%
• Equity multiple: -0.22×
• Total profit: $-39,162
• Equity at exit: $9,900

Cash invested: $32,060 (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 47172

• Active inventory: 149
• Price-to-rent: 7.1×

Monthly cashflow live

• Estimated rent: $1,351 medium
• Mortgage (P&I): −$600
• Tax from tax record: −$170 /mo · $2,046/yr
• Insurance: −$48
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$284
• Net cashflow: $-178

Break-even live

Break-even rent $1,576

Max offer price $83,039

Occupancy floor —

Sensitivity live

Price	-10% $-113	-5% $-146	+0% $-178	+5% $-211	+10% $-243
Rent	-10% $-285	-5% $-231	+0% $-178	+5% $-125	+10% $-71
Rate	-1.0pp $-120	-0.5pp $-149	base $-178	+0.5pp $-208	+1.0pp $-238

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: $28,625
• Closing costs: $3,435
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1508 Saint Joe Ct Sellersburg, IN	3.0	2.5	1209	$1,495	$1.24	3d	1	0.77mi

Listing history 14 events

1. 2026-06-03
   days on market $114,500 Active 325 DOM
2. 2026-06-02
   days on market $114,500 Active 324 DOM
3. 2026-06-01
   days on market $114,500 Active 323 DOM
4. 2026-05-31
   days on market $114,500 Active 322 DOM
5. 2025-11-20
   price $114,500 95-char remark

   Show marketing remark (95 chars)

   Priced to sell. This 2 bed 1 Bath located in Sellersburg. Move in ready, 2 car detached garage.

6. 2025-10-21
   price $119,900 95-char remark

   Show marketing remark (95 chars)

   Priced to sell. This 2 bed 1 Bath located in Sellersburg. Move in ready, 2 car detached garage.

7. 2025-10-06
   price $129,900 95-char remark

   Show marketing remark (95 chars)

   Priced to sell. This 2 bed 1 Bath located in Sellersburg. Move in ready, 2 car detached garage.

8. 2025-09-04
   price $138,500 95-char remark

   Show marketing remark (95 chars)

   Priced to sell. This 2 bed 1 Bath located in Sellersburg. Move in ready, 2 car detached garage.

9. 2025-08-26
   price $144,900 95-char remark

   Show marketing remark (95 chars)

   Priced to sell. This 2 bed 1 Bath located in Sellersburg. Move in ready, 2 car detached garage.

10. 2025-08-07
    price $149,900 95-char remark

    Show marketing remark (95 chars)

    Priced to sell. This 2 bed 1 Bath located in Sellersburg. Move in ready, 2 car detached garage.

11. 2025-07-14
    listed $154,900 Active 95-char remark

    Show marketing remark (95 chars)

    Priced to sell. This 2 bed 1 Bath located in Sellersburg. Move in ready, 2 car detached garage.

12. 2015-01-02
    soldstatus $22,000 418-char remark

    Show marketing remark (418 chars)

    REDUCED $16000!!! SELLER WANTS OFFER. Possible contract with approved buyer. 2 bed 1 bath home on over half an acre in need of TLC. Sold As-Is. Selling Broker and buyer are to verify taxes, sqft, lot size, and all other amenities. Neither Seller nor the Listing Broker has any knowledge of subject condition not limited to septic, plumbing, hvac, and electrical. Buyer must verify if public water is available or well.

13. 2014-10-09
    listed $29,000 418-char remark

    Show marketing remark (418 chars)

    REDUCED $16000!!! SELLER WANTS OFFER. Possible contract with approved buyer. 2 bed 1 bath home on over half an acre in need of TLC. Sold As-Is. Selling Broker and buyer are to verify taxes, sqft, lot size, and all other amenities. Neither Seller nor the Listing Broker has any knowledge of subject condition not limited to septic, plumbing, hvac, and electrical. Buyer must verify if public water is available or well.

14. 2010-11-03
    soldstatus $77,200

ⓘ 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: $2,046 · $170/mo
• Projected year-2 tax: $2,046 · $170/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 5/10 Major FEMA zone AE · 24% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 5/10 Major 7 d/yr ≥105°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 · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $16,209
• − Mortgage interest: −$6,414
• − Property taxes: −$2,046
• − Insurance: −$5,691
• − Repairs & maintenance: −$1,297
• − Management: −$1,297
• − Depreciation: −$3,331
• Taxable loss: −$3,866
• Est. tax savings @ 24.0%: +$928
• After-tax cash flow: $-1,209/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)

No district data.

Livability — Sellersburg

• Score: 73/100
• State rank: #85
• US rank: #5005

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Clark County · 108,879 people
• City population: 21,045
• Metro: Louisville/Jefferson County, KY-IN
• Population (ZIP): 21,045
• Household income: $82,503
• Rent vs Own: 17.1% rent · 82.9% own
• Severe rent burden: 250.0

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%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (90%)
• Race & ethnicity: White 90% Two or more races 7% Hispanic / Latino 3% Asian 2%
• Common ancestry: Romanian 2% Slovak 2% Italian 2%
• Foreign-born: 3% · Canada
• Languages at home: 96% English-only · Spanish 2% Vietnamese 1% Other Indo-European 1%

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: ▼ -114.50%
• Current HPI: 173.6209
• Rent YoY: —
• Metro: Louisville/Jefferson County, KY-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

+48.3% since first listed

10 events — show timeline

• 2025-11-20 Price Changed $114,500 SIRA
• 2025-10-21 Price Changed $119,900 SIRA
• 2025-10-06 Price Changed $129,900 SIRA
• 2025-09-04 Price Changed $138,500 SIRA
• 2025-08-26 Price Changed $144,900 SIRA
• 2025-08-07 Price Changed $149,900 SIRA
• 2025-07-14 Listed $154,900 SIRA
• 2015-01-02 Sold (MLS) $22,000 SIRA
• 2014-10-09 Listed $29,000 SIRA
• 2010-11-03 Sold (Public Records) $77,200 Public Records

Property tax history

+8.9%/yr

Latest (2024): $2,046 · +17.5% YoY. Source: county tax records.