2328 N Liberty Lakes Dr · Greensburg, IN 47240

$272,370

3 bd · 2.5 ba · 1,773 sqft · SingleFamily

Built 2026 Excellent condition 8,492 sqft lot Est $273k · at est. $8/mo HOA

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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 +30.0/30.0
• DSCR +10.0/10.0
• 1% rule +9.7/10.0
• ARV discount +7.6/15.0
• Condition / age +4.8/5.0
• Schools +3.8/10.0
• Livability +3.5/5.0
• Rent growth +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Nestled at 2328 N Liberty Lakes Dr, GREENSBURG, IN, this single-family residence in Decatur County presents an opportunity to experience modern comfort. This property provides a fresh canvas for creating your ideal living space featuring a beautiful view of the lake. With 1773 square feet of living area, the home includes three bedrooms and two full bathrooms, game room and laundry room on the second floor, with 9 ft ceilings throughout the first floor, offering plentiful space for relaxation and privacy. Evenings might find you unwinding in one of the additional bedrooms, each offering a peaceful retreat. Plenty of counter space in the kitchen with Aristokraft cabinets and black appliances

Key facts

• 8,492 sq ft lot
• 2 garage spots
• Built 2026

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath single-family listed at $272k. Condition is rated excellent.

Deal economics

• At list price, monthly cash flow is $1k ($15k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $272k).
• Cap rate 11.9% vs local median 5.9% in Greensburg — 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 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; 1 comparable units currently listed for rent nearby; 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 $2k of loan paydown is wiped out by about $8k 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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $76k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• Only 0 days on market — expect competitive offers; lowballing is unlikely to land.

Recommended offer $272,370

Questions for the listing agent

1. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
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: 1.47% ✓
• Cap rate: 11.87%
• Cash-on-cash: 19.92%
• DSCR: 1.89
• GRM: 5.7

CMA / ARV

• ARV (on-the-fly): $273,042
• Comps found: 9

Show comp detail 9 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2328 N Liberty Lakes Dr	0.00mi	3/2.5	1,773 (0%)	0mo	$272,370	$154	100
2339 N Liberty Lakes Dr	0.13mi	3/2.5	1,773 (0%)	3mo	$265,000	$149	92
2329 N Liberty Lakes Dr	0.13mi	3/2.5	1,773 (0%)	10mo	$265,365	$150	86
2345 N Liberty Lakes Dr	0.08mi	4/2.5 (+1)	1,997 (+13%)	3mo	$278,285	$139	68
1306 W Daniel Dr	0.73mi	3/2.5	1,800 (+2%)	10mo	$305,000	$169	55
1904 N Oakmont Ave	0.68mi	3/2.0	1,644 (-7%)	1mo	$295,000	$179	54
1822 N Oakmont Ave	0.69mi	3/2.5	1,624 (-8%)	12mo	$315,000	$194	44
911 W 11th St	0.66mi	3/2.0	1,951 (+10%)	11mo	$207,700	$106	42
1613 N Carver St	0.57mi	3/1.5	1,616 (-9%)	19mo	$295,000	$183	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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 12.1%
• Equity multiple: 1.48×
• Total profit: $36,547
• Equity at exit: $40,611

10-year hold

• IRR: 21.0%
• Equity multiple: 2.78×
• Total profit: $135,896
• Equity at exit: $23,550

Cash invested: $76,264 (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: 5.7×

Monthly cashflow live

• Estimated rent: $3,995 medium
• Mortgage (P&I): −$1,428
• Tax est. 1.5%: −$340 /mo · $4,086/yr
• Insurance: −$113
• HOA: −$8
• Vacancy / Maint / Mgmt: −$839
• Net cashflow: $1,266

Break-even live

Break-even rent $2,393

Max offer price $272,370

Occupancy floor 63%

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: $68,092
• Closing costs: $8,171
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1011 N Anderson St Greensburg, IN	3.0	2.5	1620	$3,995	$2.47	12d	1	1.01mi

HOA detail

• Monthly dues: $8 · $96/yr

Listing history 2 events

1. 2026-06-05
   remarks 699-char remark
2. 2026-06-05
   listed $272,370 Pending

ⓘ 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 ≥102°F today · 17 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $47,940
• − Mortgage interest: −$15,257
• − Property taxes: −$4,086
• − Insurance: −$1,362
• − Repairs & maintenance: −$3,835
• − Management: −$3,835
• − HOA: −$96
• − Depreciation: −$7,923
• Taxable income: $11,546
• Est. tax owed @ 24.0%: −$2,771
• After-tax cash flow: $12,418/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.

Condition & rehab AI · 13 photos

Excellent 95/100 None rehab

This single-family home in Greensburg, IN is in excellent condition with no visible repairs needed. It offers a fresh canvas for creating your ideal living space and is ready for immediate occupancy.

Value-add opportunities

• Both Painting the exterior — Enhances curb appeal and value
• Both Upgrading the flooring — Improves aesthetics and durability
• Both Upgrading the kitchen appliances — Enhances functionality and appeal

Renovation cost estimate screening

Value-add ROI direction

• Both Painting the exterior — Enhances curb appeal and value ↑
• Both Upgrading the flooring — Improves aesthetics and durability ↑
• Both Upgrading the kitchen appliances — Enhances functionality and appeal ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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

2 events — show timeline

• 2026-06-04 Listing Removed — MIBOR as Distributed by MLS Grid
• 2025-05-01 Listed $272,370 MIBOR as Distributed by MLS Grid