46 E 150 St S · Princeton, IN 47670

$159,999

3 bd · 1.0 ba · 960 sqft · SingleFamily public records · 21 Days on market

Built 1954 0.25 ac lot $167/sqft · 12% below area Est $220k · 27% under

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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 +19.1/30.0
• ARV discount +15.0/15.0
• DSCR +6.0/10.0
• 1% rule +4.4/10.0
• 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

Move-in ready, 3 bedroom home on Hgts Chapel Road in Princeton. Very clean, well cared for home. Eat-in kitchen, breeze-way, two car attached garage. Updated kitchen and bath, neutral colors.

Key facts

• Newer roof
• 5 mins from toyota
• Newer plumbing

Tags

• CUSTOM POWERED BACK PATIO
• BATH REMODEL
• NEWER ROOF
• NEWER WINDOWS
• NEWER PLUMBING
• 5 MINS FROM TOYOTA

Property features AI

Finance

• Other: Residential property

Exterior

• Parking: Attached garage with garage door opener; 2 garage spaces
• Utilities: Public water; Public sewer; Cable available
• Home design: Single-family residence; Site-built home; One story; Above-grade finished living area
• Construction: Vinyl siding; Shingle roof; Crawl space foundation; Built as site-built construction
• Exterior features: Screened porch; Porch; Level lot; Lot dimensions approximately 115 x 80; Quarter-acre lot

Interior

• Kitchen: Microwave; Refrigerator
• Bathrooms: One full bathroom (main level)
• Heating & cooling: Central air conditioning; Ceiling fan(s); Natural gas forced-air heating
• Interior features: Ceiling fans; Eat-in kitchen

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $160k.

Deal economics

• At list price, monthly cash flow is $169 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $150k (6.0% below list).
• Recommended offer: $150k (6.0% below list) — sets the bar for 1% rule.
• Cap rate 7.6% 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-, amenities F, commute 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.
• Zoned schools: Princeton Comm Primary School (414 students, 53% FRL); Princeton Community Middle (math 23% / reading 37%, grade F, #208 of 330 statewide, top 64%, 431 students, 53% FRL); Princeton Community High School (math 22% / reading 57%, grade F, #221 of 369 statewide, top 63%, 618 students, 41% FRL).
• Market conditions: 143 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 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 $1k of loan paydown is wiped out by about $5k 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 21 days — a 2% lower offer ($158k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 12y ago; this cycle's ask has dropped $20k (11%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1954 — 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 $150,459 (6.0% below list)

Questions for the listing agent

1. Built in 1954 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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: 0.94% ✗
• Cap rate: 7.56%
• Cash-on-cash: 4.52%
• DSCR: 1.20
• GRM: 8.9

CMA / ARV

• ARV (median comp): $220,075
• List price: $159,999
• Delta: -27.30%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
212 E 150 S	0.20mi	3/1.0	1,080 (+12%)	6mo	$15,000	$14	65
1713 S Main St	0.25mi	2/1.0 (-1)	924 (-4%)	16mo	$133,000	$144	63
1313 S Baldwin Ct	0.60mi	3/2.0	1,081 (+13%)	2mo	$224,900	$208	46
1214 S Prince St	0.66mi	2/1.0 (-1)	1,011 (+5%)	19mo	$127,900	$127	40
208 W Makemson Ave	0.68mi	2/1.0 (-1)	836 (-13%)	12mo	$90,000	$108	32

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: -9.3%
• Equity multiple: 0.66×
• Total profit: $-15,215
• Equity at exit: $23,856

10-year hold

• IRR: 0.1%
• Equity multiple: 1.01×
• Total profit: $461
• Equity at exit: $13,834

Cash invested: $44,800 (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: 8.9×

Monthly cashflow live

• Estimated rent: $1,505 medium
• Mortgage (P&I): −$839
• Tax from tax record: −$114 /mo · $1,371/yr
• Insurance: −$67
• HOA: −$0
• Vacancy / Maint / Mgmt: −$316
• Net cashflow: $169

Break-even live

Break-even rent $1,291

Max offer price $159,999

Occupancy floor 84%

Sensitivity live

Price	-10% $259	-5% $214	+0% $169	+5% $123	+10% $78
Rent	-10% $50	-5% $109	+0% $169	+5% $228	+10% $288
Rate	-1.0pp $249	-0.5pp $209	base $169	+0.5pp $127	+1.0pp $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: $40,000
• Closing costs: $4,800
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
220 W Garfield Ave Princeton, IN	2.0	1.0	1000	$1,700	$1.70	45d	2	0.60mi
102 N Seminary St Princeton, IN	2.0	1.0	884	$995	$1.13	45d	1	1.49mi

Listing history 11 events

1. 2026-06-07
   statusdays on market $159,999 Pending 21 DOM
2. 2026-06-04
   days on market $159,999 Active 20 DOM
3. 2026-06-02
   days on market $159,999 Active 19 DOM
4. 2026-06-01
   days on market $159,999 Active 18 DOM
5. 2026-05-31
   days on market $159,999 Active 17 DOM
6. 2026-05-31
   days on market $159,999 Active 16 DOM
7. 2026-05-14
   listed $179,999 Active 318-char remark
8. 2022-01-24
   soldstatus $147,000
9. 2014-09-02
   soldstatus $83,000
10. 2014-08-29
    soldstatus $83,000 191-char remark

    Show marketing remark (191 chars)

    Move-in ready, 3 bedroom home on Hgts Chapel Road in Princeton. Very clean, well cared for home. Eat-in kitchen, breeze-way, two car attached garage. Updated kitchen and bath, neutral colors.

11. 2014-06-30
    listed $84,500 191-char remark

    Show marketing remark (191 chars)

    Move-in ready, 3 bedroom home on Hgts Chapel Road in Princeton. Very clean, well cared for home. Eat-in kitchen, breeze-way, two car attached garage. Updated kitchen and bath, neutral colors.

ⓘ 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: $1,371 · $114/mo
• Projected year-2 tax: $1,371 · $114/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 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 4% 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: $18,055
• − Mortgage interest: −$8,962
• − Property taxes: −$1,371
• − Insurance: −$800
• − Repairs & maintenance: −$1,444
• − Management: −$1,444
• − Depreciation: −$4,655
• Taxable loss: −$622
• Est. tax savings @ 24.0%: +$149
• After-tax cash flow: $2,173/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

+89.3% since first listed

7 events — show timeline

• 2026-06-04 Pending — IRMLS
• 2026-05-27 Price Changed $159,999 IRMLS
• 2026-05-14 Listed $179,999 IRMLS
• 2022-01-24 Sold (Public Records) $147,000 Public Records
• 2014-09-02 Sold (Public Records) $83,000 Public Records
• 2014-08-29 Sold (MLS) $83,000 IRMLS
• 2014-06-30 Listed $84,500 IRMLS

Property tax history

+6.8%/yr

Latest (2024): $1,371 · +10.4% YoY. Source: county tax records.