1135 Chartres St · New Albany, IN 47150

$90,000

2 bd · 1.0 ba · 1,048 sqft · SingleFamily public records · 75 Days on market

Built 1929 6,054 sqft lot

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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 +30.0/30.0
• DSCR +10.0/10.0
• 1% rule +8.1/10.0
• ARV discount +7.5/15.0
• 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 MLS

This 2 BR, 1BA home would make a great starter home or investment property! Home features vinyl siding. First Look Initiative: For the first 15 days that property is listed, seller will consider offers from owner occupant buyers, government entities and their partners. After 15 days, seller will also consider offers from investor buyers.

Key facts

• 6,054 sq ft lot
• Built 1929
• Listed 75 days

Property features AI

Finance

• Financial info: Annual taxes listed as $1,029

Exterior

• Parking: No garage
• Home design: Single-story home; 1,048 above-grade finished area
• Exterior features: Residential zoning; Assessor-reported lot size of 0.139 acres

Interior

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

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $90k.

Deal economics

• At list price, monthly cash flow is $343 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $90k).
• Recommended offer: $85k (6.0% below list) — sets the bar for market timing.
• Cap rate 10.9% vs local median 3.9% 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+, amenities F.
• 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.
• Zoned schools: Georgetown Elementary School (math 67% / reading 52%, grade B-, #128 of 994 statewide, top 15%, 683 students, 28% FRL); Highland Hills Middle School (math 53% / reading 57%, grade B-, #26 of 330 statewide, top 8%, 1,652 students, 19% FRL); Floyd Central High School (math 50% / reading 80%, grade B, #31 of 369 statewide, top 9%, 1,873 students, 19% FRL) — zoned schools average 22% FRL vs 38% district-wide (16 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: Rents rising fast (+7.2%/yr); 278 active listings in the ZIP; 24 comparable units currently listed for rent nearby; rentals at typical pace (median 19d 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

• It's been on market 75 days — a 6% lower offer ($85k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 14y 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 $12k; list at $90k implies a 620% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1929 — expect roof / HVAC / electrical / plumbing capex.
• 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 $84,600 (6.0% below list)

Questions for the listing agent

1. It's been on market 75 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1929 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. 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.
7. 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.
8. 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: 1.31% ✓
• Cap rate: 10.87%
• Cash-on-cash: 16.34%
• DSCR: 1.73
• GRM: 6.4

CMA / ARV

• ARV (on-the-fly): $189,688
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1428 Locust St	0.16mi	2/1.0	1,084 (+3%)	2mo	$143,500	$132	86
710 Culbertson Ave	0.34mi	2/1.5	1,120 (+7%)	1mo	$210,000	$188	70
1317 Vine St	0.71mi	2/1.0	1,040 (-1%)	4mo	$104,595	$101	62
330 E 16th St	0.58mi	2/1.0	1,008 (-4%)	6mo	$190,000	$188	62
1521 Ekin Ave	0.27mi	2/1.0	896 (-14%)	2mo	$162,000	$181	61
1108 State St	0.66mi	2/1.0	982 (-6%)	2mo	$52,900	$54	57
1309 Vine St	0.71mi	3/1.0 (+1)	1,060 (+1%)	4mo	$172,000	$162	56
1834 Conservative St	0.74mi	3/1.0 (+1)	1,056 (+1%)	5mo	$179,900	$170	55
1711 Ekin Ave	0.38mi	2/2.0	900 (-14%)	4mo	$210,000	$233	52
1313 Vine St	0.71mi	1/1.0 (-1)	1,012 (-3%)	6mo	$114,000	$113	51
1804 Ekin Ave	0.49mi	3/2.0 (+1)	1,174 (+12%)	2mo	$246,500	$210	47
226 Green St	0.66mi	2/1.0	898 (-14%)	6mo	$180,000	$200	40

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: 11.9%
• Equity multiple: 1.50×
• Total profit: $12,499
• Equity at exit: $13,419

10-year hold

• IRR: 23.9%
• Equity multiple: 3.48×
• Total profit: $62,434
• 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: 278
• Price-to-rent: 6.4×

Monthly cashflow live

• Estimated rent: $1,176 high
• Mortgage (P&I): −$472
• Tax from tax record: −$76 /mo · $913/yr
• Insurance: −$38
• HOA: −$0
• Vacancy / Maint / Mgmt: −$247
• Net cashflow: $343

Break-even live

Break-even rent $741

Max offer price $90,000

Occupancy floor 66%

Sensitivity live

Price	-10% $394	-5% $369	+0% $343	+5% $318	+10% $292
Rent	-10% $250	-5% $297	+0% $343	+5% $390	+10% $436
Rate	-1.0pp $389	-0.5pp $366	base $343	+0.5pp $320	+1.0pp $296

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 24 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1409 Chartres St Unit 2 New Albany, IN	1.0	1.0	700	$750	$1.07	25d	1	0.09mi
812 Culbertson Ave New Albany, IN	2.0	1.0	1000	$1,095	$1.09	23d	1	0.30mi
901 E Oak St New Albany, IN	3.0	1.0	1100	$1,350	$1.23	25d	1	0.35mi
808 Vincennes St New Albany, IN	2.0	1.5	1444	$2,000	$1.39	23d	1	0.37mi
520 Culbertson Ave Unit B New Albany, IN	3.0	2.0	1000	$1,395	$1.40	5d	1	0.40mi
905 E Elm St New Albany, IN	1.0–2.0	1.0	937	$1,035	$1.10	25d	1	0.42mi
508 Vincennes St New Albany, IN	1.0	1.0	750	$850	$1.13	25d	1	0.50mi
1112 E Spring St Unit 1 New Albany, IN	2.0	2.0	1200	$1,440	$1.20	25d	1	0.51mi
608 E Spring St Unit 2 New Albany, IN	2.0	2.0	1100	$1,195	$1.09	25d	1	0.59mi
608 E Spring St Unit 2 New Albany, IN	2.0	2.0	1100	$1,195	$1.09	5d	1	0.59mi
1307 E Market St #1 New Albany, IN	2.0	1.0	936	$1,190	$1.27	18d	1	0.61mi
1307 E Market St #2 New Albany, IN	1.0	1.0	804	$975	$1.21	17d	1	0.61mi
1108 State St New Albany, IN	2.0	1.0	982	$1,150	$1.17	23d	1	0.64mi
309 E Spring St Unit 310-106 New Albany, IN	2.0	2.0	1005	$1,250	$1.24	18d	1	0.65mi
309 E Spring St Unit 310-203 New Albany, IN	2.0	2.5	1005	$1,250	$1.24	5d	1	0.65mi
1915 Culbertson Ave New Albany, IN	3.0	1.0	1000	$1,450	$1.45	18d	1	0.66mi
807 E Main St New Albany, IN	3.0	2.0	1500	$1,650	$1.10	21d	1	0.67mi
1201 Dewey St #3 New Albany, IN	1.0	1.0	700	$775	$1.11	18d	1	0.73mi
1316 Roosevelt Ave Unit 11 New Albany, IN	2.0	1.5	700	$950	$1.36	25d	1	0.75mi
2239 Charlestown Rd Apt 104 New Albany, IN	1.0	1.0	842	$1,100	$1.31	16d	1	0.82mi
1808 Bono Rd New Albany, IN	1.0–2.0	1.0–2.0	1000	$1,035	$1.03	5d	1	0.84mi
2201 Ekin Ave New Albany, IN	2.0	1.0	1300	$1,350	$1.04	5d	1	0.90mi
2676 Grant Line Rd New Albany, IN	1.0–2.0	1.0–2.0	828	$1,402	$1.69	3d	12	1.33mi
1429 Slate Run Rd New Albany, IN	1.0–2.0	1.0–2.0	1200	$1,365	$1.14	16d	4	1.45mi

Listing history 17 events

1. 2026-06-21
   days on market $90,000 Active 75 DOM
2. 2026-06-18
   days on market $90,000 Active 72 DOM
3. 2026-06-17
   days on market $90,000 Active 71 DOM
4. 2026-06-16
   days on market $90,000 Active 70 DOM
5. 2026-06-15
   days on market $90,000 Active 69 DOM
6. 2026-06-13
   days on market $90,000 Active 67 DOM
7. 2026-06-10
   days on market $90,000 Active 64 DOM
8. 2026-06-09
   days on market $90,000 Active 63 DOM
9. 2026-06-08
   days on market $90,000 Active 62 DOM
10. 2026-06-07
    days on market $90,000 Active 61 DOM
11. 2026-06-03
    days on market $90,000 Active 57 DOM
12. 2026-06-02
    days on market $90,000 Active 56 DOM
13. 2026-06-01
    days on market $90,000 Active 55 DOM
14. 2026-05-31
    days on market $90,000 Active 54 DOM
15. 2026-04-06
    listed $90,000 Active
16. 2012-06-08
    soldstatus $12,500 339-char remark

    Show marketing remark (339 chars)

    This 2 BR, 1BA home would make a great starter home or investment property! Home features vinyl siding. First Look Initiative: For the first 15 days that property is listed, seller will consider offers from owner occupant buyers, government entities and their partners. After 15 days, seller will also consider offers from investor buyers.

17. 2012-03-30
    listed $12,500 339-char remark

    Show marketing remark (339 chars)

    This 2 BR, 1BA home would make a great starter home or investment property! Home features vinyl siding. First Look Initiative: For the first 15 days that property is listed, seller will consider offers from owner occupant buyers, government entities and their partners. After 15 days, seller will also consider offers from investor buyers.

ⓘ 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: $913 · $76/mo
• Projected year-2 tax: $913 · $76/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 ≥106°F today · 20 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: $14,108
• − Mortgage interest: −$5,041
• − Property taxes: −$913
• − Insurance: −$450
• − Repairs & maintenance: −$1,129
• − Management: −$1,129
• − Depreciation: −$2,618
• Taxable income: $2,828
• Est. tax owed @ 24.0%: −$679
• After-tax cash flow: $3,440/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

+620.0% since first listed

3 events — show timeline

• 2026-04-06 Listed $90,000 SIRA
• 2012-06-08 Sold (MLS) $12,500 SIRA
• 2012-03-30 Listed $12,500 SIRA

Property tax history

+14.3%/yr

Latest (2024): $913 · -9.8% YoY. Source: county tax records.