311 E Central Ave · Greensburg, IN 47240

$179,900

3 bd · 2.0 ba · 1,582 sqft · SingleFamily public records · 320 Days on market

Built 1930 4,800 sqft lot $114/sqft · 13% above area Est $183k · at est.

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +8.2/15.0
• Schools +3.8/10.0
• Livability +3.5/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Check out this 3 bedroom, 2 full bath home! The main floor has a living room, dining room, large kitchen with plenty of cabinets and patio doors leading to the back deck, a full bath with a walk-in shower and a laundry closet, as well as the master bedroom. The upstairs has a second full bath with a tub/shower combo and two more bedrooms. The woodburning fireplace in the living room will warm you on cold winter days. The kitchen cabinets have been painted white, countertops refinished, backsplash updated with newer vinyl flooring. Interior and exterior of home has been well maintained and ready to move in to.

Key facts

• Patio doors
• Living room
• Large kitchen

Tags

• LIVING ROOM
• DINING ROOM
• LARGE KITCHEN
• PATIO DOORS
• BACK DECK
• WALK-IN SHOWER

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $180k.

Deal economics

• At list price, monthly cash flow is $1k ($17k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $180k).
• Recommended offer: $158k (12.0% below list) — sets the bar for market timing.
• Cap rate 15.9% 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-, 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: 157 active listings in the ZIP; 2 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 $1k of loan paydown is wiped out by about $5k 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 $50k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 320 days — a 12% lower offer ($158k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 4y ago; this cycle's ask has dropped $25k (12%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1930 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $158,312 (12.0% below list)

Questions for the listing agent

1. It's been on market 320 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1930 — 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: 1.84% ✓
• Cap rate: 15.88%
• Cash-on-cash: 34.24%
• DSCR: 2.52
• GRM: 4.5

CMA / ARV

• ARV (median comp): $182,696
• List price: $179,900
• Delta: -1.53%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
311 E Central Ave	0.00mi	3/2.0	1,808 (+14%)	1mo	$185,000	$102	76
912 E Hendricks St	0.53mi	3/2.0	1,652 (+4%)	1mo	$300,000	$182	67
937 E Hendricks St	0.53mi	3/2.0	1,512 (-4%)	2mo	$323,000	$214	66
820 N Broadway St	0.37mi	3/1.5	1,472 (-7%)	6mo	$224,000	$152	64
904 N Hamilton Dr	0.60mi	2/2.0 (-1)	1,587 (+0%)	7mo	$249,000	$157	61
513 W North St	0.54mi	3/2.0	1,500 (-5%)	7mo	$230,000	$153	60
730 E Washington St	0.42mi	3/2.0	1,344 (-15%)	1mo	$218,500	$163	55
440 E Montgomery Rd	0.49mi	3/2.0	1,744 (+10%)	8mo	$300,000	$172	54
824 E Main St	0.50mi	2/1.0 (-1)	1,468 (-7%)	4mo	$179,900	$123	53
210 W 5th St	0.69mi	4/2.0 (+1)	1,492 (-6%)	2mo	$228,000	$153	51
125 S Vine St	0.36mi	4/1.0 (+1)	1,804 (+14%)	3mo	$31,000	$17	49
607 N Davidson St	0.48mi	3/1.0	1,788 (+13%)	6mo	$202,000	$113	47

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: 29.6%
• Equity multiple: 2.24×
• Total profit: $62,389
• Equity at exit: $26,824

10-year hold

• IRR: 36.9%
• Equity multiple: 4.42×
• Total profit: $172,218
• Equity at exit: $15,554

Cash invested: $50,372 (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: 157
• Price-to-rent: 4.5×

Monthly cashflow live

• Estimated rent: $3,304 medium
• Mortgage (P&I): −$943
• Tax from tax record: −$154 /mo · $1,854/yr
• Insurance: −$75
• HOA: −$0
• Vacancy / Maint / Mgmt: −$694
• Net cashflow: $1,437

Break-even live

Break-even rent $1,485

Max offer price $179,900

Occupancy floor 52%

Sensitivity live

Price	-10% $1,539	-5% $1,488	+0% $1,437	+5% $1,386	+10% $1,335
Rent	-10% $1,176	-5% $1,307	+0% $1,437	+5% $1,568	+10% $1,698
Rate	-1.0pp $1,528	-0.5pp $1,483	base $1,437	+0.5pp $1,391	+1.0pp $1,343

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: $44,975
• Closing costs: $5,397
• Reserves months: —
• Total cash needed: —

Rent comps 2 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	0.69mi
2303 N Broadway St Greensburg, IN	2.0	2.0	1100	$1,399	$1.27	24d	1	1.35mi

Listing history 9 events

1. 2026-05-11
   status Pending 621-char remark

   Show marketing remark (621 chars)

   Check out this 3 bedroom, 2 full bath home! The main floor has a living room, dining room, large kitchen with plenty of cabinets and patio doors leading to the back deck, a full bath with a walk-in shower and a laundry closet, as well as the master bedroom. The upstairs has a second full bath with a tub/shower combo and two more bedrooms. The woodburning fireplace in the living room will warm you on cold winter days. The kitchen cabinets have been painted white, countertops refinished, backsplash updated with newer vinyl flooring. Interior and exterior of home has been well maintained and ready to move in to.

2. 2026-04-13
   price $179,900 621-char remark

   Show marketing remark (621 chars)

   Check out this 3 bedroom, 2 full bath home! The main floor has a living room, dining room, large kitchen with plenty of cabinets and patio doors leading to the back deck, a full bath with a walk-in shower and a laundry closet, as well as the master bedroom. The upstairs has a second full bath with a tub/shower combo and two more bedrooms. The woodburning fireplace in the living room will warm you on cold winter days. The kitchen cabinets have been painted white, countertops refinished, backsplash updated with newer vinyl flooring. Interior and exterior of home has been well maintained and ready to move in to.

3. 2026-01-05
   price $189,800 621-char remark

   Show marketing remark (621 chars)

   Check out this 3 bedroom, 2 full bath home! The main floor has a living room, dining room, large kitchen with plenty of cabinets and patio doors leading to the back deck, a full bath with a walk-in shower and a laundry closet, as well as the master bedroom. The upstairs has a second full bath with a tub/shower combo and two more bedrooms. The woodburning fireplace in the living room will warm you on cold winter days. The kitchen cabinets have been painted white, countertops refinished, backsplash updated with newer vinyl flooring. Interior and exterior of home has been well maintained and ready to move in to.

4. 2025-09-29
   price $189,900 621-char remark

   Show marketing remark (621 chars)

   Check out this 3 bedroom, 2 full bath home! The main floor has a living room, dining room, large kitchen with plenty of cabinets and patio doors leading to the back deck, a full bath with a walk-in shower and a laundry closet, as well as the master bedroom. The upstairs has a second full bath with a tub/shower combo and two more bedrooms. The woodburning fireplace in the living room will warm you on cold winter days. The kitchen cabinets have been painted white, countertops refinished, backsplash updated with newer vinyl flooring. Interior and exterior of home has been well maintained and ready to move in to.

5. 2025-07-09
   price $199,000 621-char remark

   Show marketing remark (621 chars)

   Check out this 3 bedroom, 2 full bath home! The main floor has a living room, dining room, large kitchen with plenty of cabinets and patio doors leading to the back deck, a full bath with a walk-in shower and a laundry closet, as well as the master bedroom. The upstairs has a second full bath with a tub/shower combo and two more bedrooms. The woodburning fireplace in the living room will warm you on cold winter days. The kitchen cabinets have been painted white, countertops refinished, backsplash updated with newer vinyl flooring. Interior and exterior of home has been well maintained and ready to move in to.

6. 2025-06-25
   listed $205,000 Active 621-char remark

   Show marketing remark (621 chars)

   Check out this 3 bedroom, 2 full bath home! The main floor has a living room, dining room, large kitchen with plenty of cabinets and patio doors leading to the back deck, a full bath with a walk-in shower and a laundry closet, as well as the master bedroom. The upstairs has a second full bath with a tub/shower combo and two more bedrooms. The woodburning fireplace in the living room will warm you on cold winter days. The kitchen cabinets have been painted white, countertops refinished, backsplash updated with newer vinyl flooring. Interior and exterior of home has been well maintained and ready to move in to.

7. 2022-08-02
   status Active
8. 2022-07-23
   status Pending
9. 2022-07-05
   listed $149,900 Active

ⓘ 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: $1,854 · $154/mo
• Projected year-2 tax: $1,854 · $154/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 4/10 Moderate 7 d/yr ≥102°F today · 19 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: $39,646
• − Mortgage interest: −$10,077
• − Property taxes: −$1,854
• − Insurance: −$900
• − Repairs & maintenance: −$3,172
• − Management: −$3,172
• − Depreciation: −$5,233
• Taxable income: $15,239
• Est. tax owed @ 24.0%: −$3,657
• After-tax cash flow: $13,589/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: 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

+20.0% since first listed

9 events — show timeline

• 2026-05-11 Pending — MIBOR as Distributed by MLS Grid
• 2026-04-13 Price Changed $179,900 MIBOR as Distributed by MLS Grid
• 2026-01-05 Price Changed $189,800 MIBOR as Distributed by MLS Grid
• 2025-09-29 Price Changed $189,900 MIBOR as Distributed by MLS Grid
• 2025-07-09 Price Changed $199,000 MIBOR as Distributed by MLS Grid
• 2025-06-25 Listed $205,000 MIBOR as Distributed by MLS Grid
• 2022-08-02 Relisted — MIBOR as Distributed by MLS Grid
• 2022-07-23 Pending — MIBOR as Distributed by MLS Grid
• 2022-07-05 Listed $149,900 MIBOR as Distributed by MLS Grid

Property tax history

+0.7%/yr

Latest (2023): $1,854 · +5.6% YoY. Source: county tax records.