426 W Seventh St · New Albany, IN 47150

$100,000

2 bd · 1.0 ba · 896 sqft · SingleFamily public records · 27 Days on market

Built 1929 3,049 sqft lot Est $163k · 39% under

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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 +26.7/30.0
• ARV discount +15.0/15.0
• DSCR +9.2/10.0
• 1% rule +6.1/10.0
• Rent growth +4.3/5.0
• Schools +4.2/10.0
• Livability +3.7/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Key facts

• 3,049 sq ft lot
• Parking
• Built 1929

Property features AI

Exterior

• Parking: Carport
• Utilities: Public water connected; Public sewer
• Home design: Single-story home; Vinyl siding; Resale condition
• Construction: Crawlspace foundation
• Exterior features: Paved driveway; Covered porch

Interior

• Kitchen: Oven; Range; Refrigerator
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating
• Interior features: Unfinished crawl space basement

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $100k.

Deal economics

• At list price, monthly cash flow is $271 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $100k).
• Recommended offer: $98k (1.5% below list) — sets the bar for market timing.
• Cap rate 9.5% vs local median 3.8% in New Albany — 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 73/100 on livability (#100 in IN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety B; Watch: commute C-, employment D+, schools D.
• New Albany-Floyd County Consolidated Schools (suburban): math 46% / reading 50% proficiency, ranked #68 of 301 in IN (top 23%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising fast (+7.2%/yr); 269 active listings in the ZIP; 23 comparable units currently listed for rent nearby; rentals at typical pace (median 20d on market — plan ~3-4 weeks tenant-placement turnaround); 297 units permitted in Floyd County in 2024 (84 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $691 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Floyd County population projected at +10% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (-3.0% appreciation + 7.2% rent growth), your $28k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 27 days — a 2% lower offer ($98k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1929 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $98,500 (1.5% below list)

Questions for the listing agent

1. Built in 1929 — 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: 1.11% ✓
• Cap rate: 9.54%
• Cash-on-cash: 11.60%
• DSCR: 1.52
• GRM: 7.5

CMA / ARV

• ARV (on-the-fly): $163,072
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
416 W 7th St	0.03mi	2/1.0	962 (+7%)	7mo	$174,000	$181	80
650 W 7th St	0.28mi	2/1.0	896 (0%)	10mo	$153,000	$171	79
229 W 9th St	0.23mi	2/1.0	962 (+7%)	2mo	$184,900	$192	75
219 W 8th St	0.22mi	2/1.0	962 (+7%)	4mo	$184,900	$192	74
722 Mosier Ave	0.35mi	2/1.0	907 (+1%)	12mo	$167,000	$184	72
729 Young St	0.39mi	1/1.0 (-1)	900 (+0%)	10mo	$59,900	$67	68
729 Mosier Ave	0.33mi	2/1.0	860 (-4%)	12mo	$159,900	$186	68
247 Jackson St	0.57mi	2/1.0	826 (-8%)	2mo	$150,000	$182	59
235 W 9th St	0.22mi	2/1.0	768 (-14%)	16mo	$126,000	$164	53
1108 State St	0.75mi	2/1.0	982 (+10%)	2mo	$52,900	$54	47
1107 Griffin St	0.69mi	2/1.0	784 (-12%)	3mo	$145,400	$185	44
926 State St	0.69mi	2/1.0	1,016 (+13%)	19mo	$91,900	$90	30

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 · 7.24% rent growth · sell at horizon

5-year hold

• IRR: 5.2%
• Equity multiple: 1.21×
• Total profit: $5,913
• Equity at exit: $14,910

10-year hold

• IRR: 17.9%
• Equity multiple: 2.76×
• Total profit: $49,234
• Equity at exit: $8,646

Cash invested: $28,000 (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 47150

• Rents YoY: 7.2%
• Active inventory: 269
• Price-to-rent: 7.5×

Monthly cashflow live

• Estimated rent: $1,107 high
• Mortgage (P&I): −$524
• Tax from tax record: −$38 /mo · $450/yr
• Insurance: −$42
• HOA: −$0
• Vacancy / Maint / Mgmt: −$232
• Net cashflow: $271

Break-even live

Break-even rent $764

Max offer price $100,000

Occupancy floor 71%

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: $25,000
• Closing costs: $3,000
• Reserves months: —
• Total cash needed: —

Rent comps 23 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
309 E Spring St Unit 310-106 New Albany, IN	2.0	2.0	1005	$1,250	$1.24	17d	1	0.67mi
309 E Spring St Unit 310-203 New Albany, IN	2.0	2.5	1005	$1,250	$1.24	3d	1	0.67mi
1108 State St New Albany, IN	2.0	1.0	982	$1,150	$1.17	21d	1	0.77mi
520 Culbertson Ave Unit B New Albany, IN	3.0	2.0	1000	$1,395	$1.40	3d	1	0.85mi
608 E Spring St Unit 2 New Albany, IN	2.0	2.0	1100	$1,195	$1.09	23d	1	0.85mi
608 E Spring St Unit 2 New Albany, IN	2.0	2.0	1100	$1,195	$1.09	3d	1	0.85mi
1226 Naghel St Unit 2 New Albany, IN	1.0	1.0	650	$725	$1.12	21d	1	0.94mi
1226 Naghel St Unit 2 New Albany, IN	1.0	1.0	600	$725	$1.21	23d	1	0.94mi
812 Culbertson Ave New Albany, IN	2.0	1.0	1000	$1,095	$1.09	21d	1	1.02mi
905 E Elm St New Albany, IN	1.0–2.0	1.0	937	$1,035	$1.10	23d	1	1.03mi
901 E Oak St New Albany, IN	3.0	1.0	1100	$1,350	$1.23	23d	1	1.04mi
1201 Dewey St #3 New Albany, IN	1.0	1.0	700	$775	$1.11	17d	1	1.22mi
115 N 46th St Unit 2 Louisville, KY	1.0	1.0	650	$750	$1.15	23d	1	1.24mi
1307 E Market St #2 New Albany, IN	1.0	1.0	804	$975	$1.21	16d	1	1.27mi
1307 E Market St #1 New Albany, IN	2.0	1.0	936	$1,190	$1.27	17d	1	1.27mi
112 S 46th St Louisville, KY	3.0	1.0	902	$1,200	$1.33	23d	1	1.29mi
1409 Chartres St Unit 2 New Albany, IN	1.0	1.0	700	$750	$1.07	23d	1	1.30mi
1409 Chartres St Unit 2 New Albany, IN	1.0	1.0	650	$750	$1.15	14d	1	1.30mi
121 E 14th St Unit 2 New Albany, IN	1.0	1.0	650	$825	$1.27	20d	1	1.32mi
1808 Bono Rd New Albany, IN	1.0–2.0	1.0–2.0	1000	$1,035	$1.03	3d	1	1.33mi
313 N 42nd St Louisville, KY	3.0	1.0	900	$1,250	$1.39	3d	1	1.38mi
3910 Garfield Ave Louisville, KY	2.0	1.0	872	$1,035	$1.19	3d	1	1.41mi
3901 Jewell Ave Louisville, KY	3.0	1.0	1069	$1,140	$1.07	20d	1	1.46mi

Listing history 14 events

1. 2026-06-18
   days on market $100,000 Active 27 DOM
2. 2026-06-17
   days on market $100,000 Active 26 DOM
3. 2026-06-16
   days on market $100,000 Active 25 DOM
4. 2026-06-15
   days on market $100,000 Active 24 DOM
5. 2026-06-13
   pricedays on market $100,000 Active 22 DOM
6. 2026-06-10
   days on market $125,000 Active 19 DOM
7. 2026-06-09
   days on market $125,000 Active 18 DOM
8. 2026-06-08
   days on market $125,000 Active 17 DOM
9. 2026-06-07
   days on market $125,000 Active 16 DOM
10. 2026-06-03
    days on market $125,000 Active 12 DOM
11. 2026-06-02
    days on market $125,000 Active 11 DOM
12. 2026-06-01
    days on market $125,000 Active 10 DOM
13. 2026-05-31
    days on market $125,000 Active 9 DOM
14. 2026-05-22
    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: $450 · $38/mo
• Projected year-2 tax: $650 · $54/mo
• Expected delta: +$200/yr (+$17/mo · 44.4%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Taxation est. · year 1

• Rental income: $13,278
• − Mortgage interest: −$5,602
• − Property taxes: −$450
• − Insurance: −$500
• − Repairs & maintenance: −$1,062
• − Management: −$1,062
• − Depreciation: −$2,909
• Taxable income: $1,693
• Est. tax owed @ 24.0%: −$406
• After-tax cash flow: $2,840/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: New Albany-Floyd County Consolidated Schools
• NCES district ID: 1807410
• Math proficiency: 46% ▼ -4.00%
• Reading proficiency: 50% ▼ -3.00%
• Median HH income: $54,709
• Composite: 41.57/100
• National rank: #3441
• State rank: #68 of 301 in IN

Livability — New Albany

• Score: 73/100
• State rank: #100
• US rank: #5454

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: New Albany, IN
• County: Floyd County · 49,144 people
• City population: 49,144
• Metro: Louisville/Jefferson County, KY-IN
• Population (ZIP): 49,144
• Household income: $62,820
• Rent vs Own: 37.7% rent · 62.3% own
• Severe rent burden: 1737.0

Population outlook (Floyd County) Hauer SSP2

• Today (2025): 82,092 people
• By 2030: 84,384 · +2.8%
• By 2040: 87,919 · +7.1%
• By 2050: 89,958 · +9.6%
• By 2075: 94,159 · +14.7%
• By 2100: 91,907 · +12.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (82%)
• Race & ethnicity: White 82% Black 8% Two or more races 6% Hispanic / Latino 5% Asian 1%
• Common ancestry: Italian 3% Slovak 2% Lithuanian 2%
• Foreign-born: 3% · Canada
• Languages at home: 96% English-only · Spanish 2% Other Asian/Pacific 1%

Political lean MEDSL · Floyd

• 2024 margin: R (+15.5) · D 41.4% · R 56.9% · Other 1.7%
• 2008→2024 swing: -5.4pp toward R · 2008: -10.1pp · 2024: -15.5pp
• All cycles: 2024: R+15.5 2020: R+14.1 2016: R+20.1 2012: R+14.3 2008: R+10.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -185.20%
• Current HPI: 206.7738
• Rent YoY: ▲ 7.24%
• Metro: Louisville/Jefferson County, KY-IN
• 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

1 event — show timeline

• 2026-05-22 Listed $149,900 SIRA

Property tax history

+1.2%/yr

Latest (2024): $450 · -2.8% YoY. Source: county tax records.