2262 Mckinley Ave · Columbus, IN 47201

$199,000

3 bd · 1.0 ba · 1,008 sqft · SingleFamily public records · 41 Days on market

Built 1997 5,750 sqft lot Est $178k · 12% over

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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).

• Cash flow +13.8/30.0
• DSCR +4.2/10.0
• Livability +4.0/5.0
• Schools +3.6/10.0
• Rent growth +3.3/5.0
• 1% rule +2.9/10.0
• Condition / age +2.5/5.0
• ARV discount +2.3/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

YOU'LL ENJOY THIS NICE 3 BEDROOM HOME BUILT IN 1998! *INVITING FRONT PORCH *OPEN LIVING ROOM, KITCHEN AND DINING AREA WITH LAMINATE FLOORING QUALITY FEATURES INCLUDE TILT-IN THERMOPANE WINDOWS AND 6 PANEL DOORS *CONVENIENTLY LOCATED TO SHOPPING, RESTAURANTS AND DOWNTOWN ACTIVITIES.

Key facts

• New lvp flooring
• Major updates
• Move in ready

Tags

• MOVE IN READY
• NEW LVP FLOORING
• FULLY FENCED BACKYARD
• MAJOR UPDATES

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $199k.

Deal economics

• At list price, monthly cash flow is $17 ($202/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $158k (20.8% below list).
• Recommended offer: $158k (20.8% below list) — sets the bar for 1% rule.
• Cap rate 6.4% vs local median 3.5% in Columbus — 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 79/100 on livability (#24 in IN, #1,978 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities D+, commute F.
• Bartholomew Consolidated School Corporation (urban): math 38% / reading 45% proficiency, ranked #119 of 301 in IN (top 40%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: L F Smith Elementary (math 34% / reading 36%, grade F, #590 of 994 statewide, top 60%, 471 students, 62% FRL); Northside Middle School (math 32% / reading 49%, grade F, #117 of 330 statewide, top 36%, 904 students, 49% FRL); Columbus East High School (math 34% / reading 65%, grade D, #123 of 369 statewide, top 36%, 1,535 students, 39% FRL).
• Market conditions: Rents rising (+3.1%/yr); 345 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals lingering (median 46d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 83% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 195 units permitted in Bartholomew County in 2024 (0 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.
• Bartholomew County population projected at +22% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 41 days — a 3% lower offer ($193k) is reasonable based on typical stale-listing flexibility.
• 3 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 $140k; 42% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Recommended offer $157,563 (20.8% below list)

Questions for the listing agent

1. It's been on market 41 days. Have you received any prior offers? Is the seller open to a 21% concession, seller financing, or rate buy-down credit?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
4. 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?
5. 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.
6. 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.
7. 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: 0.79% ✗
• Cap rate: 6.39%
• Cash-on-cash: 0.36%
• DSCR: 1.02
• GRM: 10.5

CMA / ARV

• ARV (on-the-fly): $178,416
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2262 Mckinley Ave	0.00mi	3/1.0	1,008 (0%)	1mo	$185,000	$184	99
2256 Mckinley Ave	0.01mi	2/1.0 (-1)	1,092 (+8%)	8mo	$172,500	$158	74
200 Pence St	0.46mi	3/2.0	980 (-3%)	8mo	$173,775	$177	63
844 Cottage Ave	0.61mi	2/1.0 (-1)	1,032 (+2%)	0mo	$185,361	$180	62
100 S Beatty Ln	0.64mi	3/1.0	960 (-5%)	4mo	$165,000	$172	59
2805 Kentucky Ave	0.69mi	3/1.0	936 (-7%)	7mo	$172,000	$184	50
1215 N Gladstone Ave	0.73mi	3/1.0	925 (-8%)	4mo	$102,000	$110	48
1782 Wallace Ave	0.37mi	3/1.5	1,152 (+14%)	11mo	$134,900	$117	48
2133 10th St	0.48mi	2/1.0 (-1)	896 (-11%)	10mo	$140,000	$156	46
131 S Beatty St	0.54mi	2/1.0 (-1)	1,114 (+10%)	10mo	$177,500	$159	44
1317 Court St	0.74mi	3/1.0	932 (-8%)	11mo	$170,000	$182	44
2905 Kentucky Ave	0.72mi	3/1.0	864 (-14%)	4mo	$173,900	$201	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 · 3.15% rent growth · sell at horizon

5-year hold

• IRR: -15.6%
• Equity multiple: 0.44×
• Total profit: $-31,005
• Equity at exit: $29,672

10-year hold

• IRR: -7.0%
• Equity multiple: 0.55×
• Total profit: $-24,912
• Equity at exit: $17,206

Cash invested: $55,720 (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 47201

• Rents YoY: 3.1%
• Active inventory: 345
• Price-to-rent: 10.5×

Monthly cashflow live

• Estimated rent: $1,576 high
• Mortgage (P&I): −$1,044
• Tax from tax record: −$101 /mo · $1,217/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$331
• Net cashflow: $17

Break-even live

Break-even rent $1,554

Max offer price $199,000

Occupancy floor 94%

Sensitivity live

Price	-10% $129	-5% $73	+0% $17	+5% $-40	+10% $-96
Rent	-10% $-108	-5% $-45	+0% $17	+5% $79	+10% $141
Rate	-1.0pp $117	-0.5pp $67	base $17	+0.5pp $-35	+1.0pp $-87

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: $49,750
• Closing costs: $5,970
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1182 Quail Run Dr Columbus, IN	1.0–3.0	1.0–2.0	967	$1,600	$1.65	45d	16	0.72mi
420 Wint Ln Columbus, IN	1.0–2.0	1.0–2.0	950	$1,450	$1.53	45d	1	0.72mi
275 N Marr Rd Columbus, IN	1.0–2.0	1.0–2.0	897	$1,540	$1.72	45d	4	0.78mi
3393 Country Brook St Columbus, IN	1.0–3.0	1.5	821	$1,665	$2.03	45d	10	0.82mi
725 Sycamore St Columbus, IN	1.0–2.0	1.0–2.0	766	$1,525	$1.99	23d	11	0.97mi
782 Clifty Ln Columbus, IN	1.0–2.0	1.0–2.0	999	$1,360	$1.36	45d	1	1.07mi

Listing history 7 events

1. 2026-04-27
   status Pending
2. 2026-03-17
   listed $199,000 Active
3. 2023-09-26
   soldstatus $140,000 Closed 282-char remark

   Show marketing remark (282 chars)

   YOU'LL ENJOY THIS NICE 3 BEDROOM HOME BUILT IN 1998! *INVITING FRONT PORCH *OPEN LIVING ROOM, KITCHEN AND DINING AREA WITH LAMINATE FLOORING QUALITY FEATURES INCLUDE TILT-IN THERMOPANE WINDOWS AND 6 PANEL DOORS *CONVENIENTLY LOCATED TO SHOPPING, RESTAURANTS AND DOWNTOWN ACTIVITIES.

4. 2023-08-16
   status Pending 282-char remark

   Show marketing remark (282 chars)

   YOU'LL ENJOY THIS NICE 3 BEDROOM HOME BUILT IN 1998! *INVITING FRONT PORCH *OPEN LIVING ROOM, KITCHEN AND DINING AREA WITH LAMINATE FLOORING QUALITY FEATURES INCLUDE TILT-IN THERMOPANE WINDOWS AND 6 PANEL DOORS *CONVENIENTLY LOCATED TO SHOPPING, RESTAURANTS AND DOWNTOWN ACTIVITIES.

5. 2023-08-15
   listed $139,900 Active 282-char remark

   Show marketing remark (282 chars)

   YOU'LL ENJOY THIS NICE 3 BEDROOM HOME BUILT IN 1998! *INVITING FRONT PORCH *OPEN LIVING ROOM, KITCHEN AND DINING AREA WITH LAMINATE FLOORING QUALITY FEATURES INCLUDE TILT-IN THERMOPANE WINDOWS AND 6 PANEL DOORS *CONVENIENTLY LOCATED TO SHOPPING, RESTAURANTS AND DOWNTOWN ACTIVITIES.

6. 2013-04-10
   soldstatus $48,500
7. 2012-10-04
   listed $54,900 204-char remark

   Show marketing remark (204 chars)

   How fast can you move? This 3 bedroom, 1 full bath home features a kitchen, dining and living room open concept. It is located in the middle of town and is close to shopping centers. Immediate Possession!

ⓘ 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: $1,217 · $101/mo
• Projected year-2 tax: $1,454 · $121/mo
• Expected delta: +$237/yr (+$20/mo · 19.5%)

ⓘ 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 4/10 Moderate 7 d/yr ≥103°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: $18,908
• − Mortgage interest: −$11,147
• − Property taxes: −$1,217
• − Insurance: −$995
• − Repairs & maintenance: −$1,513
• − Management: −$1,513
• − Depreciation: −$5,789
• Taxable loss: −$3,266
• Est. tax savings @ 24.0%: +$784
• After-tax cash flow: $985/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: Bartholomew Consolidated School Corporation
• NCES district ID: 1800360
• Math proficiency: 38% ▼ -11.00%
• Reading proficiency: 45% ▼ -7.00%
• Median HH income: $54,685
• Composite: 36.16/100
• National rank: #4736
• State rank: #119 of 301 in IN

Livability — Columbus

• Score: 79/100
• State rank: #24
• US rank: #1978

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Columbus, IN
• County: Bartholomew County · 74,100 people
• City population: 74,100
• Metro: Columbus, IN
• Population (ZIP): 47,900
• Household income: $83,958
• Rent vs Own: 36.8% rent · 63.2% own
• Severe rent burden: 1455.0

Population outlook (Bartholomew County) Hauer SSP2

• Today (2025): 90,162 people
• By 2030: 94,432 · +4.7%
• By 2040: 102,659 · +13.9%
• By 2050: 109,794 · +21.8%
• By 2075: 123,419 · +36.9%
• By 2100: 121,047 · +34.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (75%)
• Race & ethnicity: White 75% Hispanic / Latino 10% Asian 9% Two or more races 6% Black 2%
• Hispanic origin (detail): Mexican 8% Puerto Rican 1%
• Common ancestry: Italian 3% Slovak 2% Serbian 1%
• Foreign-born: 14% · Canada, China
• Languages at home: 83% English-only · Spanish 8% Other Indo-European 5% Other Asian/Pacific 2%

Political lean MEDSL · Bartholomew

• 2024 margin: Strong R (+27.3) · D 35.3% · R 62.7% · Other 2.0%
• 2008→2024 swing: -16.1pp toward R · 2008: -11.3pp · 2024: -27.3pp
• All cycles: 2024: R+27.3 2020: R+26.2 2016: R+33.3 2012: R+25.4 2008: R+11.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -204.94%
• Current HPI: 150.2246
• Rent YoY: ▲ 3.15%
• Metro: Columbus, 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

+262.5% since first listed

7 events — show timeline

• 2026-04-27 Pending — MIBOR as Distributed by MLS Grid
• 2026-03-17 Listed $199,000 MIBOR as Distributed by MLS Grid
• 2023-09-26 Sold (MLS) $140,000 MIBOR as Distributed by MLS Grid
• 2023-08-16 Pending — MIBOR as Distributed by MLS Grid
• 2023-08-15 Listed $139,900 MIBOR as Distributed by MLS Grid
• 2013-04-10 Sold (Public Records) $48,500 Public Records
• 2012-10-04 Listed $54,900 MIBOR as Distributed by MLS Grid

Property tax history

-3.2%/yr

Latest (2024): $1,217 · +193.0% YoY. Source: county tax records.