810 Oak St · Connersville, IN 47331

$89,900

3 bd · 1.5 ba · 1,120 sqft · SingleFamily public records · 21 Days on market

Built 1980 0.30 ac lot $80/sqft · 8% above area Est $83k · 8% over

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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 +24.5/30.0
• DSCR +7.9/10.0
• 1% rule +5.9/10.0
• ARV discount +3.8/15.0
• 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

BACK ON THE MARKET, CALL TODAY FOR YOUR SHOWING TIME , MOVE IN READY.

Key facts

• 0.3 acre lot
• Garage
• Built 1980

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $90k.

Deal economics

• At list price, monthly cash flow is $185 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($979 rent vs $90k).
• Recommended offer: $89k (1.5% below list) — sets the bar for market timing.
• Cap rate 8.8% vs local median 4.9% 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: 172 active listings in the ZIP; 2 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 $622 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 21 days — a 2% lower offer ($89k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 10y 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 $60k; list at $90k implies a 50% gain — meaningful room to come down on a strong offer.

Recommended offer $88,551 (1.5% below list)

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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?
3. 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?
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: 1.09% ✓
• Cap rate: 8.76%
• Cash-on-cash: 8.81%
• DSCR: 1.39
• GRM: 7.7

CMA / ARV

• ARV (median comp): $82,999
• List price: $89,900
• Delta: 8.31%
• 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
610 W 9th St	0.19mi	3/1.0	1,078 (-4%)	1mo	$31,000	$29	82
916 W 10th St	0.17mi	2/2.0 (-1)	1,100 (-2%)	4mo	$98,000	$89	79
1317 W 6th St	0.33mi	3/2.0	1,092 (-2%)	6mo	$170,000	$156	74
1423 Memorial Dr	0.34mi	3/2.0	1,040 (-7%)	10mo	$145,900	$140	62
1532 Indian Spgs	0.68mi	3/1.5	1,081 (-4%)	1mo	$189,000	$175	61
402 Eastern Ave	0.62mi	2/1.0 (-1)	1,068 (-5%)	0mo	$28,000	$26	56
221 E Ninth St	0.66mi	3/2.0	1,067 (-5%)	5mo	$199,900	$187	56
640 W 17th St	0.70mi	3/1.5	1,032 (-8%)	2mo	$35,000	$34	53
334 Eastern Ave	0.62mi	3/1.0	1,196 (+7%)	11mo	$32,500	$27	48
220 E 9th St	0.69mi	2/1.0 (-1)	1,072 (-4%)	7mo	$140,000	$131	48
121 Spring Hl	0.68mi	2/1.0 (-1)	1,177 (+5%)	11mo	$75,000	$64	44
121 Spring Hl	0.68mi	2/1.0 (-1)	1,177 (+5%)	11mo	$75,000	$64	44

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: -3.0%
• Equity multiple: 0.89×
• Total profit: $-2,797
• Equity at exit: $13,404

10-year hold

• IRR: 6.7%
• Equity multiple: 1.50×
• Total profit: $12,705
• Equity at exit: $7,773

Cash invested: $25,172 (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: 172
• Price-to-rent: 7.7×

Monthly cashflow live

• Estimated rent: $979 medium
• Mortgage (P&I): −$471
• Tax from tax record: −$79 /mo · $953/yr
• Insurance: −$37
• HOA: −$0
• Vacancy / Maint / Mgmt: −$206
• Net cashflow: $185

Break-even live

Break-even rent $745

Max offer price $89,900

Occupancy floor 76%

Sensitivity live

Price	-10% $236	-5% $210	+0% $185	+5% $159	+10% $134
Rent	-10% $108	-5% $146	+0% $185	+5% $224	+10% $262
Rate	-1.0pp $230	-0.5pp $208	base $185	+0.5pp $162	+1.0pp $138

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: $22,475
• Closing costs: $2,697
• Reserves months: —
• Total cash needed: —

Rent comps 2 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	0.51mi
334 Hickory Dr Connersville, IN	3.0	2.0	1212	$1,200	$0.99	44d	1	1.50mi

Listing history 16 events

1. 2026-05-08
   status Pending
2. 2026-04-17
   listed $89,900 Active
3. 2018-04-21
   soldstatus $59,900 69-char remark

   Show marketing remark (69 chars)

   BACK ON THE MARKET, CALL TODAY FOR YOUR SHOWING TIME , MOVE IN READY.

4. 2018-04-12
   soldstatus $59,900
5. 2018-03-21
   soldstatus $59,900 Sold
6. 2018-02-22
   status Pending
7. 2017-11-28
   listed $59,900 Active
8. 2017-11-16
   listed $59,900 69-char remark

   Show marketing remark (69 chars)

   BACK ON THE MARKET, CALL TODAY FOR YOUR SHOWING TIME , MOVE IN READY.

9. 2017-11-16
   listed $59,900

   Show marketing remark (69 chars)

   BACK ON THE MARKET, CALL TODAY FOR YOUR SHOWING TIME , MOVE IN READY.

10. 2016-11-30
    price $59,900
11. 2016-11-30
    historical
12. 2016-11-29
    price $52,900
13. 2016-10-24
    price $59,900
14. 2016-09-14
    price $62,900
15. 2016-08-24
    listed $69,900 Active
16. 2016-04-18
    soldstatus $26,000

ⓘ 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: $953 · $79/mo
• Projected year-2 tax: $953 · $79/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 ≥101°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: $11,745
• − Mortgage interest: −$5,036
• − Property taxes: −$953
• − Insurance: −$450
• − Repairs & maintenance: −$940
• − Management: −$940
• − Depreciation: −$2,615
• Taxable income: $812
• Est. tax owed @ 24.0%: −$195
• After-tax cash flow: $2,024/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

+245.8% since first listed

16 events — show timeline

• 2026-05-08 Pending — ECIAOR
• 2026-04-17 Listed $89,900 ECIAOR
• 2018-04-21 Sold (MLS) $59,900 RRELMS
• 2018-04-12 Sold (MLS) $59,900 ECIAOR
• 2018-03-21 Sold (MLS) $59,900 MIBOR as Distributed by MLS Grid
• 2018-02-22 Pending — MIBOR as Distributed by MLS Grid
• 2017-11-28 Listed $59,900 MIBOR as Distributed by MLS Grid
• 2017-11-16 Listed $59,900 ECIAOR
• 2017-11-16 Listed $59,900 RRELMS
• 2016-11-30 Price Changed $59,900 MIBOR as Distributed by MLS Grid
• 2016-11-30 Listing Removed — MIBOR as Distributed by MLS Grid
• 2016-11-29 Price Changed $52,900 MIBOR as Distributed by MLS Grid
• 2016-10-24 Price Changed $59,900 MIBOR as Distributed by MLS Grid
• 2016-09-14 Price Changed $62,900 MIBOR as Distributed by MLS Grid
• 2016-08-24 Listed $69,900 MIBOR as Distributed by MLS Grid
• 2016-04-18 Sold (Public Records) $26,000 Public Records

Property tax history

-10.3%/yr

Latest (2024): $953 · +18.4% YoY. Source: county tax records.