4115 Corydon Ramsey Rd NW · Corydon, IN 47112

$179,900

3 bd · 1.0 ba · 1,356 sqft · SingleFamily public records · 23 Days on market

Built 1974 0.95 ac lot ↓ 5% since listing

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Why this score? — see what drove the D 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 +7.5/15.0
• DSCR +4.7/10.0
• Schools +3.7/10.0
• Livability +3.5/5.0
• 1% rule +3.1/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Curb Appeal! This beautiful ranch home sits on almost an acre, convenient for shopping in Corydon and Interstate 64. Three bedrooms and one bath would be a great home for anyone. Large laundry room with storage. Two-car garage has an attached work room in back. Garage has an energy saving UTS heater. Enclosed breezeway/mudroom between the home and garage. Park-like setting with mature trees, pond and gazebo. Windows were replaced in the 90's. Home is being Sold "AS IS" but inspections are welcome.

Key facts

• Close to i-64
• Brick ranch home
• Close to medical

Tags

• BRICK RANCH HOME
• ACRE LOT
• WOODED AREA
• CLOSE TO MEDICAL
• CLOSE TO SHOPPING
• CLOSE TO I-64

Property features AI

Finance

• Other: Lot roughly 0.95 acre (approximate dimensions 142 x 187)

Exterior

• Parking: Attached 2-car garage with garage door opener
• Utilities: Public water connection; Septic tank sewer
• Home design: Single-story home; Residential zoning; Facing not specified
• Construction: Brick and frame construction; Shingle roof; Built above grade (finished area recorded)
• Exterior features: Landscaping; Paved driveway; Porch

Interior

• Kitchen: Microwave; Oven; Range
• Bedrooms: Two bedrooms located on the main level
• Bathrooms: One full bathroom
• Heating & cooling: Baseboard heating
• Interior features: Eat-in kitchen; Main level primary bedroom; Utility room; Breezeway
• Laundry & utility: Main-level laundry room

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $180k.

Deal economics

• At list price, monthly cash flow is $62 ($750/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 $146k (18.7% below list).
• Recommended offer: $146k (18.7% below list) — sets the bar for 1% rule.
• Cap rate 6.7% vs local median 3.4% in Corydon — 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 70/100 on livability (#163 in IN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A; Watch: amenities D, commute F, employment F.
• North Harrison Community School Corporation (rural): math 40% / reading 46% proficiency, ranked #110 of 301 in IN (top 36%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: North Harrison Elementary School (math 48% / reading 45%, grade D-, #355 of 994 statewide, top 36%, 621 students, 50% FRL); North Harrison Middle School (math 30% / reading 39%, grade F, #167 of 330 statewide, top 52%, 467 students, 49% FRL); North Harrison High School (math 27% / reading 57%, grade F, #197 of 369 statewide, top 57%, 633 students, 44% FRL).
• Market conditions: 80 active listings in the ZIP; 158 units permitted in Harrison 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.
• Harrison County population projected to shrink 6% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.

Negotiation context

• It's been on market 23 days — a 2% lower offer ($177k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 4y 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.

Recommended offer $146,241 (18.7% below list)

Questions for the listing agent

1. Built in 1974 — 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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 0.81% ✗
• Cap rate: 6.71%
• Cash-on-cash: 1.49%
• DSCR: 1.07
• GRM: 10.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -14.0%
• Equity multiple: 0.50×
• Total profit: $-25,243
• Equity at exit: $26,824

10-year hold

• IRR: -5.2%
• Equity multiple: 0.66×
• Total profit: $-17,143
• 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 47112

• Home prices YoY: -30.1%
• Active inventory: 80
• Price-to-rent: 10.3×

Monthly cashflow live

• Estimated rent: $1,462 medium
• Mortgage (P&I): −$943
• Tax from tax record: −$74 /mo · $893/yr
• Insurance: −$75
• HOA: −$0
• Vacancy / Maint / Mgmt: −$307
• Net cashflow: $62

Break-even live

Break-even rent $1,383

Max offer price $179,900

Occupancy floor 91%

Sensitivity live

Price	-10% $164	-5% $113	+0% $62	+5% $12	+10% $-39
Rent	-10% $-53	-5% $5	+0% $62	+5% $120	+10% $178
Rate	-1.0pp $153	-0.5pp $108	base $62	+0.5pp $16	+1.0pp $-32

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: —

Listing history 5 events

1. 2026-05-04
   listed $179,900 Active
2. 2022-06-01
   soldstatus $166,000 Closed 512-char remark

   Show marketing remark (512 chars)

   Curb Appeal! This beautiful ranch home sits on almost an acre, convenient for shopping in Corydon and Interstate 64. Three bedrooms and one bath would be a great home for anyone. Large laundry room with storage. Two-car garage has an attached work room in back. Garage has an energy saving UTS heater. Enclosed breezeway/mudroom between the home and garage. Park-like setting with mature trees, pond and gazebo. Windows were replaced in the 90's. Home is being Sold "AS IS" but inspections are welcome.

3. 2022-04-29
   status Pending 512-char remark

   Show marketing remark (512 chars)

   Curb Appeal! This beautiful ranch home sits on almost an acre, convenient for shopping in Corydon and Interstate 64. Three bedrooms and one bath would be a great home for anyone. Large laundry room with storage. Two-car garage has an attached work room in back. Garage has an energy saving UTS heater. Enclosed breezeway/mudroom between the home and garage. Park-like setting with mature trees, pond and gazebo. Windows were replaced in the 90's. Home is being Sold "AS IS" but inspections are welcome.

4. 2022-04-26
   price $177,000 512-char remark

   Show marketing remark (512 chars)

   Curb Appeal! This beautiful ranch home sits on almost an acre, convenient for shopping in Corydon and Interstate 64. Three bedrooms and one bath would be a great home for anyone. Large laundry room with storage. Two-car garage has an attached work room in back. Garage has an energy saving UTS heater. Enclosed breezeway/mudroom between the home and garage. Park-like setting with mature trees, pond and gazebo. Windows were replaced in the 90's. Home is being Sold "AS IS" but inspections are welcome.

5. 2022-04-21
   listed $189,900 Active 512-char remark

   Show marketing remark (512 chars)

   Curb Appeal! This beautiful ranch home sits on almost an acre, convenient for shopping in Corydon and Interstate 64. Three bedrooms and one bath would be a great home for anyone. Large laundry room with storage. Two-car garage has an attached work room in back. Garage has an energy saving UTS heater. Enclosed breezeway/mudroom between the home and garage. Park-like setting with mature trees, pond and gazebo. Windows were replaced in the 90's. Home is being Sold "AS IS" but inspections are welcome.

ⓘ 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: $893 · $74/mo
• Projected year-2 tax: $1,211 · $101/mo
• Expected delta: +$318/yr (+$26/mo · 35.6%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 4/10 Moderate 7 d/yr ≥105°F today · 20 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 2% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $17,549
• − Mortgage interest: −$10,077
• − Property taxes: −$893
• − Insurance: −$900
• − Repairs & maintenance: −$1,404
• − Management: −$1,404
• − Depreciation: −$5,233
• Taxable loss: −$2,363
• Est. tax savings @ 24.0%: +$567
• After-tax cash flow: $1,317/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 Harrison Community School Corporation
• NCES district ID: 1800690
• Math proficiency: 40% ▼ -16.00%
• Reading proficiency: 46% ▼ -13.00%
• Median HH income: $51,643
• Composite: 37.12/100
• National rank: #4493
• State rank: #110 of 301 in IN

Livability — Corydon

• Score: 70/100
• State rank: #163
• US rank: #7834

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 17,123

Population outlook (Harrison County) Hauer SSP2

• Today (2025): 40,288 people
• By 2030: 40,265 · -0.1%
• By 2040: 39,538 · -1.9%
• By 2050: 37,781 · -6.2%
• By 2075: 33,200 · -17.6%
• By 2100: 26,668 · -33.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (93%)
• Race & ethnicity: White 93% Hispanic / Latino 4% Two or more races 2% Black 1% Native American 1%
• Common ancestry: Lithuanian 2% Slovak 2% Italian 2%
• Foreign-born: 2% · Canada
• Languages at home: 97% English-only · Spanish 3%

Political lean MEDSL · Harrison

• 2024 margin: Solid R (+47.0) · D 25.6% · R 72.5% · Other 1.8%
• 2008→2024 swing: -28.9pp toward R · 2008: -18.0pp · 2024: -47.0pp
• All cycles: 2024: R+47.0 2020: R+45.6 2016: R+44.4 2012: R+22.8 2008: R+18.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -90.43%
• Current HPI: 210.4158
• 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

-5.3% since first listed

5 events — show timeline

• 2026-05-04 Listed $179,900 SIRA
• 2022-06-01 Sold (MLS) $166,000 SIRA
• 2022-04-29 Pending — SIRA
• 2022-04-26 Price Changed $177,000 SIRA
• 2022-04-21 Listed $189,900 SIRA

Property tax history

+8.7%/yr

Latest (2024): $893 · +1.2% YoY. Source: county tax records.