2316 Western Ave · Connersville, IN 47331

$95,000

2 bd · 1.0 ba · 1,056 sqft · SingleFamily public records · 115 Days on market

Built 1920 5,663 sqft lot $90/sqft · 24% below area Est $126k · 24% 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 +15.2/30.0
• ARV discount +15.0/15.0
• DSCR +4.7/10.0
• 1% rule +4.5/10.0
• Livability +3.2/5.0
• Schools +2.9/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +2.3/10.0

Listing remarks MLS

This charming 2-bedroom, 1-full bath home offers comfort, functionality, and great value. Featuring a full basement for additional storage or future finishing potential, this property also includes a fenced backyard with chain-link enclosure—perfect for pets, outdoor enjoyment, or added privacy. The home is equipped with newer vinyl windows, central air, and a gas furnace, providing energy efficiency and year-round comfort. Located in a desirable neighborhood, this property is currently rented, making it an excellent investment opportunity with immediate income potential. It would also make a wonderful option for a first-time homebuyer looking to step into homeownership with a solid, well-maintained home. Contact Rebecca Fox, The Fox Agent, for your private tour today. Move Smart. Live Bold. Call or text 765-580-1674 or 765-825-SOLD. This is a rental that seller has never lived in. Tenants rights apply to this property.

Key facts

• 5,663 sq ft lot
• Built 1920
• Listed 115 days

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $95k.

Deal economics

• At list price, monthly cash flow is $34 ($405/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 $90k (5.3% below list).
• Recommended offer: $86k (9.0% below list) — sets the bar for market timing.
• Cap rate 6.7% vs local median 5.0% in Connersville — 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 65/100 on livability (#313 in IN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: health & safety C-, crime D+, schools D-.
• Fayette County School Corporation (town): math 29% / reading 40% proficiency, ranked #206 of 301 in IN (top 68%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 173 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 20 units permitted in Fayette County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $657 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Fayette County population projected at -26% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 115 days — a 9% lower offer ($86k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 14y ago 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.
• Current owner paid $11k; list at $95k implies a 764% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $86,450 (9.0% below list)

Questions for the listing agent

1. It's been on market 115 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1920 — 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. Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
7. 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.
8. 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.
9. 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: 0.95% ✗
• Cap rate: 6.72%
• Cash-on-cash: 1.52%
• DSCR: 1.07
• GRM: 8.8

CMA / ARV

• ARV (median comp): $125,814
• List price: $95,000
• Delta: -24.49%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2410 Virginia Ave	0.35mi	2/1.0	1,054 (-0%)	9mo	$75,000	$71	76
1824 Boulevard Pl	0.57mi	2/1.0	1,036 (-2%)	3mo	$103,000	$99	68
2859 Iowa Ave	0.47mi	2/1.0	1,120 (+6%)	3mo	$140,000	$125	66
636 Lexington Pl	0.37mi	2/1.0	960 (-9%)	5mo	$110,000	$115	63
2242 Indiana Ave	0.31mi	3/1.5 (+1)	1,000 (-5%)	8mo	$167,500	$168	63
317 W 24th St	0.30mi	2/1.0	1,161 (+10%)	9mo	$97,000	$84	62
2104 Grand Ave	0.37mi	3/1.0 (+1)	1,124 (+6%)	6mo	$37,500	$33	62
710 Scott St	0.26mi	2/1.0	928 (-12%)	8mo	$137,000	$148	61
2144-48 Ohio Ave	0.50mi	3/1.0 (+1)	1,103 (+4%)	8mo	$140,000	$127	58
640 W 17th St	0.68mi	3/1.5 (+1)	1,032 (-2%)	2mo	$35,000	$34	56
1916 Vermont Ave	0.50mi	2/1.0	1,176 (+11%)	2mo	$108,000	$92	56
2802 Eby Dr	0.53mi	3/1.0 (+1)	936 (-11%)	1mo	$158,000	$169	50

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: -13.8%
• Equity multiple: 0.50×
• Total profit: $-13,220
• Equity at exit: $14,165

10-year hold

• IRR: -5.0%
• Equity multiple: 0.68×
• Total profit: $-8,639
• Equity at exit: $8,214

Cash invested: $26,600 (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 47331

• Home prices YoY: -2.1%
• Active inventory: 173
• Price-to-rent: 8.8×

Monthly cashflow live

• Estimated rent: $900 medium
• Mortgage (P&I): −$498
• Tax from tax record: −$140 /mo · $1,674/yr
• Insurance: −$40
• HOA: −$0
• Vacancy / Maint / Mgmt: −$189
• Net cashflow: $34

Break-even live

Break-even rent $857

Max offer price $95,000

Occupancy floor 91%

Sensitivity live

Price	-10% $88	-5% $61	+0% $34	+5% $7	+10% $-20
Rent	-10% $-37	-5% $-2	+0% $34	+5% $69	+10% $105
Rate	-1.0pp $82	-0.5pp $58	base $34	+0.5pp $9	+1.0pp $-16

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: $23,750
• Closing costs: $2,850
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
309 W 11th St Connersville, IN	2.0	1.0	984	$900	$0.91	25d	1	1.13mi

Listing history 34 events

1. 2026-06-21
   days on market $95,000 Active 115 DOM
2. 2026-06-18
   days on market $95,000 Active 113 DOM
3. 2026-06-17
   days on market $95,000 Active 112 DOM
4. 2026-06-16
   days on market $95,000 Active 111 DOM
5. 2026-06-15
   days on market $95,000 Active 110 DOM
6. 2026-06-13
   days on market $95,000 Active 108 DOM
7. 2026-06-12
   days on market $95,000 Active 107 DOM
8. 2026-06-09
   days on market $95,000 Active 104 DOM
9. 2026-06-08
   days on market $95,000 Active 103 DOM
10. 2026-06-07
    days on market $95,000 Active 102 DOM
11. 2026-06-07
    days on market $95,000 Active 101 DOM
12. 2026-06-04
    days on market $95,000 Active 98 DOM
13. 2026-06-02
    days on market $95,000 Active 97 DOM
14. 2026-06-01
    days on market $95,000 Active 96 DOM
15. 2026-05-31
    days on market $95,000 Active 95 DOM
16. 2026-05-31
    days on market $95,000 Active 94 DOM
17. 2026-02-25
    listed $95,000 Active 939-char remark

    Show marketing remark (939 chars)

    This charming 2-bedroom, 1-full bath home offers comfort, functionality, and great value. Featuring a full basement for additional storage or future finishing potential, this property also includes a fenced backyard with chain-link enclosure—perfect for pets, outdoor enjoyment, or added privacy. The home is equipped with newer vinyl windows, central air, and a gas furnace, providing energy efficiency and year-round comfort. Located in a desirable neighborhood, this property is currently rented, making it an excellent investment opportunity with immediate income potential. It would also make a wonderful option for a first-time homebuyer looking to step into homeownership with a solid, well-maintained home. Contact Rebecca Fox, The Fox Agent, for your private tour today. Move Smart. Live Bold. Call or text 765-580-1674 or 765-825-SOLD. This is a rental that seller has never lived in. Tenants rights apply to this property.

18. 2026-02-25
    listed $95,000 Active

    Show marketing remark (939 chars)

    This charming 2-bedroom, 1-full bath home offers comfort, functionality, and great value. Featuring a full basement for additional storage or future finishing potential, this property also includes a fenced backyard with chain-link enclosure—perfect for pets, outdoor enjoyment, or added privacy. The home is equipped with newer vinyl windows, central air, and a gas furnace, providing energy efficiency and year-round comfort. Located in a desirable neighborhood, this property is currently rented, making it an excellent investment opportunity with immediate income potential. It would also make a wonderful option for a first-time homebuyer looking to step into homeownership with a solid, well-maintained home. Contact Rebecca Fox, The Fox Agent, for your private tour today. Move Smart. Live Bold. Call or text 765-580-1674 or 765-825-SOLD. This is a rental that seller has never lived in. Tenants rights apply to this property.

19. 2016-05-27
    soldstatus $11,000 Sold
20. 2016-05-20
    status Pending
21. 2016-05-20
    status Active
22. 2016-05-06
    historical
23. 2016-04-06
    price $14,900
24. 2016-04-06
    status Active
25. 2016-04-03
    historical
26. 2016-03-07
    price $18,500
27. 2016-02-08
    price $19,900
28. 2016-01-07
    price $21,500
29. 2016-01-05
    listed $22,500
30. 2015-12-07
    listed $22,500 Active
31. 2013-05-22
    soldstatus $33,000
32. 2013-03-02
    historical
33. 2012-05-21
    listed $34,900
34. 2007-04-23
    soldstatus $19,000

ⓘ 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: $1,674 · $140/mo
• Projected year-2 tax: $1,674 · $140/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 3/10 Moderate 7 d/yr ≥100°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 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $10,800
• − Mortgage interest: −$5,321
• − Property taxes: −$1,674
• − Insurance: −$475
• − Repairs & maintenance: −$864
• − Management: −$864
• − Depreciation: −$2,764
• Taxable loss: −$1,162
• Est. tax savings @ 24.0%: +$279
• After-tax cash flow: $684/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: Fayette County School Corporation
• NCES district ID: 1803510
• Math proficiency: 29% ▼ -11.00%
• Reading proficiency: 40% ▼ -8.00%
• Median HH income: $38,669
• Composite: 28.81/100
• National rank: #6659
• State rank: #206 of 301 in IN

Livability — Connersville

• Score: 65/100
• State rank: #313
• US rank: #12417

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Connersville, IN
• Population (ZIP): 22,769

Population outlook (Fayette County) Hauer SSP2

• Today (2025): 21,758 people
• By 2030: 20,673 · -5.0%
• By 2040: 18,335 · -15.7%
• By 2050: 16,056 · -26.2%
• By 2075: 11,030 · -49.3%
• By 2100: 6,800 · -68.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (94%)
• Race & ethnicity: White 94% Two or more races 4% Hispanic / Latino 1% Black 1%
• Common ancestry: Italian 2% Slovak 1% Lithuanian 1%
• Foreign-born: 1% · Canada
• Languages at home: 98% English-only · Spanish 1%

Political lean MEDSL · Fayette

• 2024 margin: Solid R (+56.3) · D 21.2% · R 77.5% · Other 1.3%
• 2008→2024 swing: -50.8pp toward R · 2008: -5.6pp · 2024: -56.3pp
• All cycles: 2024: R+56.3 2020: R+54.4 2016: R+48.1 2012: R+16.9 2008: R+5.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -5.33%
• Current HPI: 252.3898
• 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

+400.0% since first listed

18 events — show timeline

• 2026-02-25 Listed $95,000 RRELMS
• 2026-02-25 Listed $95,000 ECIAOR
• 2016-05-27 Sold (MLS) $11,000 MIBOR as Distributed by MLS Grid
• 2016-05-20 Pending — MIBOR as Distributed by MLS Grid
• 2016-05-20 Relisted — MIBOR as Distributed by MLS Grid
• 2016-05-06 Listing Removed — MIBOR as Distributed by MLS Grid
• 2016-04-06 Price Changed $14,900 MIBOR as Distributed by MLS Grid
• 2016-04-06 Relisted — MIBOR as Distributed by MLS Grid
• 2016-04-03 Listing Removed — MIBOR as Distributed by MLS Grid
• 2016-03-07 Price Changed $18,500 MIBOR as Distributed by MLS Grid
• 2016-02-08 Price Changed $19,900 MIBOR as Distributed by MLS Grid
• 2016-01-07 Price Changed $21,500 MIBOR as Distributed by MLS Grid
• 2016-01-05 Listed $22,500 IRMLS
• 2015-12-07 Listed $22,500 MIBOR as Distributed by MLS Grid
• 2013-05-22 Sold (Public Records) $33,000 Public Records
• 2013-03-02 Listing Removed — MIBOR as Distributed by MLS Grid
• 2012-05-21 Listed $34,900 MIBOR as Distributed by MLS Grid
• 2007-04-23 Sold (Public Records) $19,000 Public Records

Property tax history

+14.8%/yr

Latest (2024): $1,674 · +28.0% YoY. Source: county tax records.