1210 11th St · Connersville, IN 47331

$64,000

2 bd · 1.0 ba · 1,664 sqft · SingleFamily public records · 103 Days on market

Built 1915 0.55 ac lot $38/sqft · 60% below area

---

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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• 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

Key facts

• 0.55 acre lot
• Built 1915
• Listed 103 days

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $64k.

Deal economics

• At list price, monthly cash flow is $435 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $64k).
• Recommended offer: $58k (9.0% below list) — sets the bar for market timing.
• Cap rate 14.4% 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; 1 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 $442 of loan paydown is wiped out by about $2k 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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $18k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 103 days — a 9% lower offer ($58k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 3y 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 $53k; 21% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: property tax is 2.8% of price; built in 1915 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $58,240 (9.0% below list)

Questions for the listing agent

1. It's been on market 103 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1915 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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.
9. 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.
10. 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: 1.88% ✓
• Cap rate: 14.45%
• Cash-on-cash: 29.12%
• DSCR: 2.30
• GRM: 4.4

CMA / ARV

• ARV (median comp): $161,319
• List price: $64,000
• Delta: -60.33%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1132 Major Dr	0.08mi	3/2.0 (+1)	1,789 (+8%)	8mo	$256,400	$143	68
717 Summit Ave	0.44mi	3/1.0 (+1)	1,588 (-5%)	10mo	$75,000	$47	58
1214 W 12th St	0.11mi	3/2.0 (+1)	1,456 (-12%)	10mo	$230,000	$158	56
607 5th St	0.61mi	3/1.5 (+1)	1,580 (-5%)	2mo	$39,000	$25	54
6170 200 E	0.72mi	3/2.0 (+1)	1,680 (+1%)	8mo	$210,000	$125	49
801 Mulberry St	0.55mi	2/1.0	1,440 (-14%)	6mo	$42,500	$30	47
419 W 7th St	0.69mi	2/3.0	1,714 (+3%)	13mo	$87,000	$51	44
723 Oak St	0.40mi	3/1.5 (+1)	1,884 (+13%)	14mo	$142,000	$75	40
505 Franklin St	0.62mi	3/2.0 (+1)	1,886 (+13%)	2mo	$110,000	$58	38
602 Ariens Ave	0.36mi	3/2.0 (+1)	1,440 (-14%)	19mo	$159,999	$111	36
607 Reid St	0.61mi	3/2.0 (+1)	1,784 (+7%)	18mo	$7,000	$4	35
700 W 3rd St	0.62mi	2/2.0	1,464 (-12%)	18mo	$197,000	$135	32

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: 23.6%
• Equity multiple: 1.97×
• Total profit: $17,383
• Equity at exit: $9,543

10-year hold

• IRR: 31.5%
• Equity multiple: 3.85×
• Total profit: $51,046
• Equity at exit: $5,534

Cash invested: $17,920 (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: 4.4×

Monthly cashflow live

• Estimated rent: $1,200 medium
• Mortgage (P&I): −$336
• Tax from tax record: −$151 /mo · $1,811/yr
• Insurance: −$27
• HOA: −$0
• Vacancy / Maint / Mgmt: −$252
• Net cashflow: $435

Break-even live

Break-even rent $650

Max offer price $64,000

Occupancy floor 59%

Sensitivity live

Price	-10% $471	-5% $453	+0% $435	+5% $417	+10% $399
Rent	-10% $340	-5% $387	+0% $435	+5% $482	+10% $530
Rate	-1.0pp $467	-0.5pp $451	base $435	+0.5pp $418	+1.0pp $401

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: $16,000
• Closing costs: $1,920
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
334 Hickory Dr Connersville, IN	3.0	2.0	1212	$1,200	$0.99	44d	1	1.42mi

Listing history 21 events

1. 2026-06-21
   days on market $64,000 Active 103 DOM
2. 2026-06-18
   days on market $64,000 Active 101 DOM
3. 2026-06-17
   days on market $64,000 Active 100 DOM
4. 2026-06-16
   days on market $64,000 Active 99 DOM
5. 2026-06-15
   days on market $64,000 Active 98 DOM
6. 2026-06-13
   days on market $64,000 Active 96 DOM
7. 2026-06-12
   days on market $64,000 Active 95 DOM
8. 2026-06-09
   days on market $64,000 Active 92 DOM
9. 2026-06-08
   days on market $64,000 Active 91 DOM
10. 2026-06-07
    days on market $64,000 Active 90 DOM
11. 2026-06-07
    days on market $64,000 Active 89 DOM
12. 2026-06-04
    days on market $64,000 Active 86 DOM
13. 2026-06-02
    days on market $64,000 Active 85 DOM
14. 2026-06-01
    days on market $64,000 Active 84 DOM
15. 2026-05-31
    days on market $64,000 Active 83 DOM
16. 2026-05-31
    days on market $64,000 Active 82 DOM
17. 2026-03-06
    listed $64,000 Active
18. 2026-03-06
    listed $64,000 Active
19. 2023-05-09
    soldstatus $53,000
20. 2023-05-09
    soldstatus $53,000
21. 2023-04-28
    listed $58,000

ⓘ 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: $1,811 · $151/mo
• Projected year-2 tax: $1,811 · $151/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 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $14,400
• − Mortgage interest: −$3,585
• − Property taxes: −$1,811
• − Insurance: −$320
• − Repairs & maintenance: −$1,152
• − Management: −$1,152
• − Depreciation: −$1,862
• Taxable income: $4,518
• Est. tax owed @ 24.0%: −$1,084
• After-tax cash flow: $4,133/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

+10.3% since first listed

5 events — show timeline

• 2026-03-06 Listed $64,000 RRELMS
• 2026-03-06 Listed $64,000 ECIAOR
• 2023-05-09 Sold (Public Records) $53,000 Public Records
• 2023-05-09 Sold (MLS) $53,000 RRELMS
• 2023-04-28 Listed $58,000 RRELMS

Property tax history

-5.6%/yr

Latest (2024): $1,811 · +83.7% YoY. Source: county tax records.