327 Galt St · New Albany, IN 47150

$90,000

3 bd · 1.0 ba · 912 sqft · SingleFamily public records · 9 Days on market

Built 1929 3,615 sqft lot Est $167k · 46% under

---

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 +30.0/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +8.9/10.0
• 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

Listing remarks

Seller will consider land contract / owner financing with acceptable terms and conditions. Seller has never occupied the property and has no firsthand knowledge of its condition. Property is being sold as-is. Seller will not remove any items from the property prior to closing. All information, including but not limited to square footage, lot size, utilities, and condition, to be independently verified by buyer and buyer’s agent. No warranties expressed or implied.

Key facts

• 3,615 sq ft lot
• Built 1929
• Listed 9 days

Property features AI

Finance

• Financial info: Annual property tax approximately $1,347

Exterior

• Utilities: Public water connected; Public sewer
• Home design: Single-family property; 912 above-grade finished area
• Construction: Built previously (year not provided)
• Exterior features: Lot recorded by assessor

Interior

• Bathrooms: 1 full bathroom
• Interior features: Resale condition

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $90k.

Deal economics

• At list price, monthly cash flow is $367 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $90k).
• Cap rate 11.2% 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; 17 comparable units currently listed for rent nearby; rentals at typical pace (median 17d 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 $622 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 $25k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• Only 9 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1929 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $90,000

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: 1.39% ✓
• Cap rate: 11.19%
• Cash-on-cash: 17.49%
• DSCR: 1.78
• GRM: 6.0

CMA / ARV

• ARV (on-the-fly): $166,896
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1521 Ekin Ave	0.39mi	2/1.0 (-1)	896 (-2%)	2mo	$162,000	$181	72
2127 Beech Grove Ave	0.54mi	3/1.0	928 (+2%)	0mo	$185,900	$200	72
1711 Ekin Ave	0.37mi	2/2.0 (-1)	900 (-1%)	4mo	$210,000	$233	68
330 E 16th St	0.15mi	2/1.0 (-1)	1,008 (+10%)	5mo	$190,000	$188	66
1825 Center St	0.16mi	2/1.0 (-1)	776 (-15%)	4mo	$115,000	$148	60
415 Cost Ave	0.63mi	3/1.0	864 (-5%)	4mo	$185,000	$214	59
2024 E Market St	0.41mi	2/1.0 (-1)	1,024 (+12%)	4mo	$82,500	$81	52
2024 E Market St	0.41mi	2/1.0 (-1)	1,024 (+12%)	4mo	$82,500	$81	52
1104 Ekin Ave	0.54mi	2/1.0 (-1)	841 (-8%)	6mo	$51,000	$61	51
525 E 8th St	0.63mi	2/1.0 (-1)	826 (-9%)	1mo	$149,900	$181	49
2117 Willow St	0.50mi	3/2.0	1,016 (+11%)	6mo	$214,900	$212	48
1131 Burton Ave	0.74mi	2/2.0 (-1)	854 (-6%)	4mo	$156,210	$183	42

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: 13.6%
• Equity multiple: 1.57×
• Total profit: $14,398
• Equity at exit: $13,419

10-year hold

• IRR: 25.5%
• Equity multiple: 3.69×
• Total profit: $67,680
• Equity at exit: $7,782

Cash invested: $25,200 (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: 6.0×

Monthly cashflow live

• Estimated rent: $1,252 high
• Mortgage (P&I): −$472
• Tax from tax record: −$112 /mo · $1,347/yr
• Insurance: −$38
• HOA: −$0
• Vacancy / Maint / Mgmt: −$263
• Net cashflow: $367

Break-even live

Break-even rent $787

Max offer price $90,000

Occupancy floor 66%

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: $22,500
• Closing costs: $2,700
• Reserves months: —
• Total cash needed: —

Rent comps 17 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1307 E Market St #1 New Albany, IN	2.0	1.0	936	$1,190	$1.27	17d	1	0.29mi
1915 Culbertson Ave New Albany, IN	3.0	1.0	1000	$1,450	$1.45	17d	1	0.42mi
905 E Elm St New Albany, IN	1.0–2.0	1.0	937	$1,035	$1.10	23d	1	0.52mi
901 E Oak St New Albany, IN	3.0	1.0	1100	$1,350	$1.23	23d	1	0.54mi
812 Culbertson Ave New Albany, IN	2.0	1.0	1000	$1,095	$1.09	21d	1	0.58mi
608 E Spring St Unit 2 New Albany, IN	2.0	2.0	1100	$1,195	$1.09	3d	1	0.70mi
608 E Spring St Unit 2 New Albany, IN	2.0	2.0	1100	$1,195	$1.09	23d	1	0.70mi
520 Culbertson Ave Unit B New Albany, IN	3.0	2.0	1000	$1,395	$1.40	3d	1	0.75mi
309 E Spring St Unit 310-106 New Albany, IN	2.0	2.0	1005	$1,250	$1.24	17d	1	0.87mi
309 E Spring St Unit 310-203 New Albany, IN	2.0	2.5	1005	$1,250	$1.24	3d	1	0.87mi
1316 Roosevelt Ave Unit 11 New Albany, IN	2.0	1.5	700	$950	$1.36	23d	1	1.03mi
1108 State St New Albany, IN	2.0	1.0	982	$1,150	$1.17	21d	1	1.23mi
3120 Bank St Unit B Louisville, KY	2.0	1.0	750	$795	$1.06	23d	1	1.40mi
509 N 31st St Louisville, KY	2.0	1.0	800	$725	$0.91	16d	1	1.40mi
509 N 31st St Louisville, KY	2.0	1.0	800	$795	$0.99	23d	1	1.40mi
1429 Slate Run Rd New Albany, IN	1.0–2.0	1.0–2.0	1200	$1,365	$1.14	14d	4	1.47mi
1808 Bono Rd New Albany, IN	1.0–2.0	1.0–2.0	1000	$1,035	$1.03	3d	1	1.49mi

Listing history 7 events

1. 2026-06-18
   days on market $90,000 Active 9 DOM
2. 2026-06-17
   days on market $90,000 Active 8 DOM
3. 2026-06-16
   days on market $90,000 Active 7 DOM
4. 2026-06-15
   days on market $90,000 Active 6 DOM
5. 2026-06-13
   days on market $90,000 Active 4 DOM
6. 2026-06-10
   remarks 468-char remark
7. 2026-06-10
   listed $90,000 Active 1 DOM

ⓘ 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: $1,347 · $112/mo
• Projected year-2 tax: $1,347 · $112/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 ≥105°F today · 21 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,024
• − Mortgage interest: −$5,041
• − Property taxes: −$1,347
• − Insurance: −$450
• − Repairs & maintenance: −$1,202
• − Management: −$1,202
• − Depreciation: −$2,618
• Taxable income: $3,163
• Est. tax owed @ 24.0%: −$759
• After-tax cash flow: $3,649/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

• 2026-06-09 Listed $90,000 SIRA

Property tax history

+7.1%/yr

Latest (2025): $1,347 · +6.5% YoY. Source: county tax records.