118 Clark Rd · Charlestown, IN 47111

$209,900

3 bd · 2.0 ba · 1,118 sqft · SingleFamily public records · 109 Days on market

Built 2023 5,662 sqft lot $188/sqft · 9% below area Est $228k · 8% under

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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).

• ARV discount +11.1/15.0
• Cash flow +9.3/30.0
• 1% rule +3.3/10.0
• Livability +3.2/5.0
• Schools +2.7/10.0
• DSCR +2.6/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Our cozy cottage, The Emma, is located in the historic Pleasant Ridge welcomes you with the lovely front porch. Upon opening the front door, you are drawn into the open great room and dining area. The kitchen offers a ton of natural light. There is also a pantry with a separate laundry room. The master suite is large with an attached bath and oversized closet. All room dimensions and sq. ft. are approximate and buyer should verify.

Key facts

• Pantry
• Front porch
• Dining area

Tags

• FRONT PORCH
• OPEN GREAT ROOM
• DINING AREA
• NATURAL LIGHT
• PANTRY
• SEPARATE LAUNDRY ROOM

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $210k.

Deal economics

• At list price, monthly cash flow is $-154 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $183k (12.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $173k (17.4% below list).
• Recommended offer: $173k (17.4% below list) — sets the bar for 1% rule.
• Cap rate 5.4% vs local median 3.2% in Charlestown — 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 (#352 in IN) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: schools D, amenities F, commute F.
• Greater Clark County Schools (suburban): math 26% / reading 37% proficiency, ranked #224 of 301 in IN (top 74%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 263 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals leasing fast (median 3d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 911 units permitted in Clark County in 2024 (133 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 $6k of value loss. Plan a longer hold.
• Clark County population projected at +17% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 109 days — a 9% lower offer ($191k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 3y ago; this cycle's ask has dropped $15k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $10k; list at $210k implies a 1999% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $173,318 (17.4% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 109 days. Have you received any prior offers? Is the seller open to a 17% concession, seller financing, or rate buy-down credit?
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. 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?
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: 0.83% ✗
• Cap rate: 5.41%
• Cash-on-cash: -3.14%
• DSCR: 0.86
• GRM: 10.1

CMA / ARV

• ARV (median comp): $227,943
• List price: $209,900
• Delta: -7.92%
• 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
120 Marshall Dr	0.04mi	3/2.0	1,099 (-2%)	3mo	$215,000	$196	93
225 Halcyon Rd	0.12mi	3/2.0	1,065 (-5%)	10mo	$205,000	$192	78
223 Halcyon Rd	0.12mi	3/2.0	1,065 (-5%)	10mo	$199,999	$188	78
209 Guilford Ave	0.10mi	2/1.5 (-1)	1,152 (+3%)	6mo	$200,000	$174	78
350 Clark Rd	0.36mi	2/1.5 (-1)	1,152 (+3%)	5mo	$195,000	$169	67
348 Clark Rd	0.35mi	2/1.5 (-1)	1,152 (+3%)	8mo	$189,999	$165	65
308 Taff St	0.61mi	3/2.0	1,065 (-5%)	0mo	$222,000	$208	63
310 Taff St	0.61mi	3/2.0	1,065 (-5%)	5mo	$210,000	$197	59
1210 Market St	0.55mi	3/1.0	1,200 (+7%)	1mo	$235,000	$196	57
285 Main St	0.56mi	3/2.0	1,240 (+11%)	3mo	$207,000	$167	53
919 Monroe St	0.57mi	3/2.0	1,248 (+12%)	9mo	$244,999	$196	47
207 Reynolds St	0.66mi	3/1.5	975 (-13%)	1mo	$197,500	$203	45

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: -21.5%
• Equity multiple: 0.26×
• Total profit: $-43,739
• Equity at exit: $31,297

10-year hold

• IRR: -15.1%
• Equity multiple: 0.14×
• Total profit: $-50,415
• Equity at exit: $18,148

Cash invested: $58,772 (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 47111

• Active inventory: 263
• Price-to-rent: 10.1×

Monthly cashflow live

• Estimated rent: $1,733 high
• Mortgage (P&I): −$1,101
• Tax from tax record: −$335 /mo · $4,018/yr
• Insurance: −$87
• HOA: −$0
• Vacancy / Maint / Mgmt: −$364
• Net cashflow: $-154

Break-even live

Break-even rent $1,928

Max offer price $182,727

Occupancy floor —

Sensitivity live

Price	-10% $-35	-5% $-94	+0% $-154	+5% $-213	+10% $-273
Rent	-10% $-291	-5% $-222	+0% $-154	+5% $-85	+10% $-17
Rate	-1.0pp $-48	-0.5pp $-100	base $-154	+0.5pp $-208	+1.0pp $-264

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: $52,475
• Closing costs: $6,297
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
213 Lowell Ave Charlestown, IN	3.0	2.0	1416	$1,700	$1.20	44d	1	0.21mi
1210 Market St Charlestown, IN	3.0	1.0	1200	$1,749	$1.46	4d	1	0.53mi
1155 Indiana 62 Charlestown, IN	1.0–2.0	1.0–2.0	993	$1,550	$1.56	2d	152	0.78mi
2034 Harmony Ln Charlestown, IN	3.0	2.0	1402	$2,200	$1.57	2d	1	1.15mi
1811 Edgewood Dr Charlestown, IN	3.0	1.0	951	$1,350	$1.42	2d	1	1.34mi

Listing history 29 events

1. 2026-06-18
   days on market $209,900 Active 109 DOM
2. 2026-06-17
   days on market $209,900 Active 108 DOM
3. 2026-06-16
   days on market $209,900 Active 107 DOM
4. 2026-06-15
   days on market $209,900 Active 106 DOM
5. 2026-06-13
   days on market $209,900 Active 104 DOM
6. 2026-06-13
   days on market $209,900 Active 103 DOM
7. 2026-06-10
   days on market $209,900 Active 101 DOM
8. 2026-06-09
   days on market $209,900 Active 100 DOM
9. 2026-06-08
   days on market $209,900 Active 99 DOM
10. 2026-06-07
    days on market $209,900 Active 98 DOM
11. 2026-06-03
    days on market $209,900 Active 94 DOM
12. 2026-06-02
    days on market $209,900 Active 93 DOM
13. 2026-06-01
    days on market $209,900 Active 92 DOM
14. 2026-05-31
    days on market $209,900 Active 91 DOM
15. 2026-05-15
    price $209,900 438-char remark

    Show marketing remark (438 chars)

    Our cozy cottage, The Emma, is located in the historic Pleasant Ridge welcomes you with the lovely front porch. Upon opening the front door, you are drawn into the open great room and dining area. The kitchen offers a ton of natural light. There is also a pantry with a separate laundry room. The master suite is large with an attached bath and oversized closet. All room dimensions and sq. ft. are approximate and buyer should verify.

16. 2026-03-28
    historical $1,600
17. 2026-03-20
    price $219,900 438-char remark

    Show marketing remark (438 chars)

    Our cozy cottage, The Emma, is located in the historic Pleasant Ridge welcomes you with the lovely front porch. Upon opening the front door, you are drawn into the open great room and dining area. The kitchen offers a ton of natural light. There is also a pantry with a separate laundry room. The master suite is large with an attached bath and oversized closet. All room dimensions and sq. ft. are approximate and buyer should verify.

18. 2026-03-02
    listed $224,900 Active 438-char remark

    Show marketing remark (438 chars)

    Our cozy cottage, The Emma, is located in the historic Pleasant Ridge welcomes you with the lovely front porch. Upon opening the front door, you are drawn into the open great room and dining area. The kitchen offers a ton of natural light. There is also a pantry with a separate laundry room. The master suite is large with an attached bath and oversized closet. All room dimensions and sq. ft. are approximate and buyer should verify.

19. 2025-12-17
    listed $1,600
20. 2025-11-19
    historical $1,700
21. 2025-11-01
    price $1,700
22. 2025-10-18
    listed $1,800
23. 2025-10-01
    price $229,900
24. 2023-12-22
    historical $1,500
25. 2023-12-15
    price $1,500
26. 2023-11-22
    listed $1,700
27. 2023-07-14
    price $209,900
28. 2023-06-19
    price $216,900
29. 2016-09-29
    soldstatus $10,000

ⓘ 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: $4,018 · $335/mo
• Projected year-2 tax: $4,018 · $335/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 5/10 Major 7 d/yr ≥104°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 · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $20,798
• − Mortgage interest: −$11,758
• − Property taxes: −$4,018
• − Insurance: −$1,050
• − Repairs & maintenance: −$1,664
• − Management: −$1,664
• − Depreciation: −$6,106
• Taxable loss: −$5,461
• Est. tax savings @ 24.0%: +$1,311
• After-tax cash flow: $-535/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: Greater Clark County Schools
• NCES district ID: 1803940
• Math proficiency: 26% ▼ -15.00%
• Reading proficiency: 37% ▼ -13.00%
• Median HH income: $47,838
• Composite: 27.2/100
• National rank: #7020
• State rank: #224 of 301 in IN

Livability — Charlestown

• Score: 65/100
• State rank: #352
• US rank: #13430

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Charlestown, IN
• County: Clark County · 108,879 people
• City population: 17,738
• Metro: Louisville/Jefferson County, KY-IN
• Population (ZIP): 17,738
• Household income: $95,376
• Rent vs Own: 13.4% rent · 86.6% own
• Severe rent burden: 151.0

Population outlook (Clark County) Hauer SSP2

• Today (2025): 126,401 people
• By 2030: 131,455 · +4.0%
• By 2040: 140,471 · +11.1%
• By 2050: 147,677 · +16.8%
• By 2075: 161,702 · +27.9%
• By 2100: 164,078 · +29.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (87%)
• Race & ethnicity: White 87% Two or more races 5% Hispanic / Latino 4% Black 3%
• Common ancestry: Italian 2% Lithuanian 2% Romanian 2%
• Foreign-born: 3% · Canada, China
• Languages at home: 95% English-only · Spanish 3% Chinese 1%

Political lean MEDSL · Clark

• 2024 margin: Strong R (+20.4) · D 38.9% · R 59.3% · Other 1.8%
• 2008→2024 swing: -13.3pp toward R · 2008: -7.1pp · 2024: -20.4pp
• All cycles: 2024: R+20.4 2020: R+18.3 2016: R+22.0 2012: R+9.9 2008: R+7.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -126.16%
• Current HPI: 198.7046
• Rent YoY: —
• 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

+1999.0% since first listed

15 events — show timeline

• 2026-05-15 Price Changed $209,900 SIRA
• 2026-03-28 Rental Removed $1,600 TURBOTENANT
• 2026-03-20 Price Changed $219,900 SIRA
• 2026-03-02 Listed $224,900 SIRA
• 2025-12-17 Listed for Rent $1,600 TURBOTENANT
• 2025-11-19 Rental Removed $1,700 TURBOTENANT
• 2025-11-01 Price Changed $1,700 TURBOTENANT
• 2025-10-18 Listed for Rent $1,800 TURBOTENANT
• 2025-10-01 Price Changed $229,900 SIRA
• 2023-12-22 Rental Removed $1,500 TURBOTENANT
• 2023-12-15 Price Changed $1,500 TURBOTENANT
• 2023-11-22 Listed for Rent $1,700 TURBOTENANT
• 2023-07-14 Price Changed $209,900 SIRA
• 2023-06-19 Price Changed $216,900 SIRA
• 2016-09-29 Sold (Public Records) $10,000 Public Records

Property tax history

+9.8%/yr

Latest (2024): $4,018 · +18.8% YoY. Source: county tax records.