2319 N Liberty Lakes Dr · Greensburg, IN 47240

$299,000

3 bd · 2.5 ba · 2,180 sqft · SingleFamily · 97 Days on market

Built 2026 Good condition 7,812 sqft lot $137/sqft · 13% above area Est $265k · 13% over $8/mo HOA

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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 +29.6/30.0
• DSCR +10.0/10.0
• 1% rule +8.4/10.0
• Condition / age +4.0/5.0
• Schools +3.8/10.0
• Livability +3.5/5.0
• Rent growth +2.5/5.0
• ARV discount +1.8/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

Spacious New Construction with Flexible Living Space and Modern Finishes! Enjoy 2,180 sq. ft. of thoughtfully designed living space in this beautiful new home! The main level features a modern kitchen with stylish Aristokraft cabinetry, a spacious breakfast area, and a large family room that creates an open and inviting atmosphere for everyday living and entertaining. The flexible layout also allows space to incorporate a dining area within the family room if desired. Luxury vinyl plank flooring flows throughout the kitchen, breakfast room, mudroom, half bath, and foyer, providing both durability and modern style. A pantry, private office, and convenient half bath complete the main level. Upstairs, you'll find three generously sized bedrooms, including a spacious primary suite w/ walk-in closet & private bath featuring double sinks, & relaxing garden tub/shower combo. A large rec room offers versatile space for a media room, playroom, or 2nd living area.

Key facts

• Large family room
• Flexible layout
• Modern kitchen

Tags

• MODERN KITCHEN
• ARISTOKRAFT CABINETRY
• SPACIOUS BREAKFAST AREA
• LARGE FAMILY ROOM
• FLEXIBLE LAYOUT
• LUXURY VINYL PLANK FLOORING

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath single-family listed at $299k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $1k ($13k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $299k).
• Recommended offer: $272k (9.0% below list) — sets the bar for market timing.
• Cap rate 10.6% 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-, schools D+, amenities 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.
• 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 $9k 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 $84k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 97 days — a 9% lower offer ($272k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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.

Recommended offer $272,090 (9.0% below list)

Questions for the listing agent

1. It's been on market 97 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
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: 1.34% ✓
• Cap rate: 10.63%
• Cash-on-cash: 15.50%
• DSCR: 1.69
• GRM: 6.2

CMA / ARV

• ARV (median comp): $265,202
• List price: $299,000
• Delta: 12.74%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2333 N Liberty Lks Dr	0.10mi	3/2.5	2,180 (0%)	5mo	$308,965	$142	91
2346 N Liberty Lakes Dr	0.10mi	4/2.5 (+1)	2,180 (0%)	4mo	$311,000	$143	87
2345 N Liberty Lakes Dr	0.13mi	4/2.5 (+1)	1,997 (-8%)	3mo	$278,285	$139	73
806 W 14th St	0.40mi	4/2.5 (+1)	2,116 (-3%)	17mo	$267,900	$127	58
911 W 11th St	0.62mi	3/2.0	1,951 (-10%)	11mo	$207,700	$106	43

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: 6.3%
• Equity multiple: 1.24×
• Total profit: $20,510
• Equity at exit: $44,582

10-year hold

• IRR: 15.7%
• Equity multiple: 2.28×
• Total profit: $106,839
• Equity at exit: $25,852

Cash invested: $83,720 (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: 6.2×

Monthly cashflow live

• Estimated rent: $3,995 medium
• Mortgage (P&I): −$1,568
• Tax est. 1.5%: −$374 /mo · $4,485/yr
• Insurance: −$125
• HOA: −$8
• Vacancy / Maint / Mgmt: −$839
• Net cashflow: $1,082

Break-even live

Break-even rent $2,626

Max offer price $299,000

Occupancy floor 68%

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: $74,750
• Closing costs: $8,970
• 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	0.94mi

HOA detail

• Monthly dues: $8 · $96/yr

Listing history 12 events

1. 2026-06-12
   statusdays on market $299,000 Pending 97 DOM
2. 2026-06-09
   days on market $299,000 Active 95 DOM
3. 2026-06-08
   days on market $299,000 Active 94 DOM
4. 2026-06-07
   days on market $299,000 Active 93 DOM
5. 2026-06-05
   days on market $299,000 Active 91 DOM
6. 2026-06-04
   days on market $299,000 Active 89 DOM
7. 2026-06-02
   days on market $299,000 Active 88 DOM
8. 2026-06-01
   days on market $299,000 Active 87 DOM
9. 2026-05-31
   days on market $299,000 Active 86 DOM
10. 2026-05-31
    days on market $299,000 Active 85 DOM
11. 2026-03-31
    listed $299,000 Active 979-char remark

    Show marketing remark (979 chars)

    Spacious New Construction with Flexible Living Space and Modern Finishes! Enjoy 2,180 sq. ft. of thoughtfully designed living space in this beautiful new home! The main level features a modern kitchen with stylish Aristokraft cabinetry, a spacious breakfast area, and a large family room that creates an open and inviting atmosphere for everyday living and entertaining. The flexible layout also allows space to incorporate a dining area within the family room if desired. Luxury vinyl plank flooring flows throughout the kitchen, breakfast room, mudroom, half bath, and foyer, providing both durability and modern style. A pantry, private office, and convenient half bath complete the main level. Upstairs, you'll find three generously sized bedrooms, including a spacious primary suite w/ walk-in closet & private bath featuring double sinks, & relaxing garden tub/shower combo. A large rec room offers versatile space for a media room, playroom, or 2nd living area.

12. 2026-03-06
    listed $299,000 Active 1346-char remark

    Show marketing remark (1346 chars)

    MOVE IN READY! Spacious New Construction with Flexible Living Space and Modern Finishes! Enjoy 2,180 sq. ft. of thoughtfully designed living space in this beautiful new home currently under construction. The main level features a modern kitchen with stylish Aristokraft cabinetry, a spacious breakfast area, and a large family room that creates an open and inviting atmosphere for everyday living and entertaining. The flexible layout also allows space to incorporate a dining area within the family room if desired. Luxury vinyl plank flooring flows throughout the kitchen, breakfast room, mudroom, half bath, and foyer, providing both durability and modern style. A pantry, private office, and convenient half bath complete the main level. Upstairs, you'll find three generously sized bedrooms, including a spacious primary suite with a walk-in closet and a private bath featuring double sinks and a relaxing garden tub/shower combination. A large rec room offers versatile space for a media room, playroom, or second living area. The upstairs laundry room adds everyday convenience, and a centrally located hall bath serves the additional bedrooms. With its open layout, flexible spaces, and stylish finishes, this home is designed to fit today's lifestyle. Schedule your showing today and see the possibilities of this beautiful new home!

ⓘ 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: −$16,749
• − Property taxes: −$4,485
• − Insurance: −$1,495
• − Repairs & maintenance: −$3,835
• − Management: −$3,835
• − HOA: −$96
• − Depreciation: −$8,698
• Taxable income: $8,747
• Est. tax owed @ 24.0%: −$2,099
• After-tax cash flow: $10,882/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 · 12 photos

Good 80/100 None rehab

This move-in-ready new construction home offers a spacious and modern living space with good condition and minimal repairs needed. Upgrades in paint, flooring, and kitchen could further enhance its value.

Value-add opportunities

• Both Painting the exterior and interior walls — Fresh paint enhances curb appeal and interior aesthetics
• Both Replacing carpet with hardwood flooring in bedrooms — Hardwood flooring is more durable and adds value
• Both Upgrading the kitchen cabinets to a more modern style — Modern cabinets improve the kitchen's appearance and functionality
• Both Installing a smart home system — Smart home features enhance convenience and add value to the property

Renovation cost estimate screening

Value-add ROI direction

• Both Painting the exterior and interior walls — Fresh paint enhances curb appeal and interior aesthetics ↑
• Both Replacing carpet with hardwood flooring in bedrooms — Hardwood flooring is more durable and adds value ↑
• Both Upgrading the kitchen cabinets to a more modern style — Modern cabinets improve the kitchen's appearance and functionality ↑
• Both Installing a smart home system — Smart home features enhance convenience and add value to the property ↑

ⓘ 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

+0.0% since first listed

2 events — show timeline

• 2026-03-31 Listed $299,000 SEIBR
• 2026-03-06 Listed $299,000 MIBOR as Distributed by MLS Grid