736 5th St · Connersville, IN 47331

$177,900

2 bd · 1.0 ba · 980 sqft · SingleFamily public records · 23 Days on market

Built 1902 7,841 sqft lot Est $128k · 39% over

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Why this score? — see what drove the F 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 +3.4/30.0
• 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
• 1% rule +0.0/10.0
• DSCR +0.0/10.0
• ARV discount +0.0/15.0

Listing remarks MLS

Welcome home to this beautifully remodeled 3 bedroom, 2.5 bath property featuring a bright, open layout with modern finishes throughout. The spacious living area flows seamlessly into the updated kitchen, complete with sleek cabinetry, contemporary lighting and a large center island perfect for entertaining. Beyond the living area you will find the primary suite with a large master bath and closet. Additionally, on the main level you will find a spacious dining room as well as a utility room and half bath. Up the stairs you will enter a loft adding extra space for personal desires, with two additional bedrooms as well as another full bath. On the back side of the home, enjoy a large deck, perfect for entertaining. This newly renovated home won't last long, call today for your personal tour 765-698-7906.

Key facts

• 7,841 sq ft lot
• Built 1902
• Listed 23 days

Property features AI

Exterior

• Utilities: Public water; Public sewer
• Home design: Single-family residence; 2 stories
• Construction: Brick construction
• Exterior features: Covered deck

Interior

• Kitchen: Dishwasher; Microwave; Range; Refrigerator
• Bedrooms: Total of 5 rooms (includes bedrooms and living spaces)
• Bathrooms: 2 full bathrooms; 1 half bathroom
• Heating & cooling: Central air; Natural gas heating
• Interior features: Dishwasher; Microwave; Range; Refrigerator; Electric water heater; Basement
• Laundry & utility: Electric water heater

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $178k.

Deal economics

• At list price, monthly cash flow is $-549 ($-7k/yr) — negative.
• To cash-flow at today's rent, offer at most $81k (54.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $68k (61.5% below list).
• Recommended offer: $68k (61.5% below list) — sets the bar for 1% rule.
• Cap rate 2.6% vs local median 4.9% in Connersville — below-typical yield; the buyer is paying a premium for something (appreciation thesis, condition, location) that the cap rate doesn't capture.

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+, amenities F.
• 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.
• Zoned schools: Eastview Elementary School (math 37% / reading 42%, grade F, #500 of 994 statewide, top 53%, 327 students, 68% FRL); Connersville Middle School (math 21% / reading 38%, grade F, #212 of 330 statewide, top 67%, 505 students, 61% FRL); Connersville Sr High School (math 26% / reading 62%, grade F, #189 of 369 statewide, top 51%, 966 students, 55% FRL) — zoned schools at 61% FRL track the district average.
• Market conditions: 172 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals at typical pace (median 26d on market — plan ~3-4 weeks tenant-placement turnaround); 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 $1k of loan paydown is wiped out by about $5k 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.

Negotiation context

• It's been on market 23 days — a 2% lower offer ($175k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 2y ago; this cycle's ask has dropped $14k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $30k; list at $178k implies a 493% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1902 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $68,434 (61.5% 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. Built in 1902 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
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: 0.38% ✗
• Cap rate: 2.59%
• Cash-on-cash: -13.23%
• DSCR: 0.41
• GRM: 21.7

CMA / ARV

• ARV (on-the-fly): $128,380
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1411 Fayette St	0.71mi	2/1.0	924 (-6%)	1mo	$40,000	$43	57
208 Holly St	0.33mi	3/1.5 (+1)	1,056 (+8%)	12mo	$127,000	$120	55
402 Eastern Ave	0.64mi	2/1.0	1,068 (+9%)	0mo	$28,000	$26	55
220 E 9th St	0.55mi	2/1.0	1,072 (+9%)	7mo	$140,000	$131	53
1415 Woodbine Dr	0.59mi	3/1.0 (+1)	936 (-4%)	10mo	$90,000	$96	52
206 Holly St	0.32mi	3/1.5 (+1)	1,056 (+8%)	17mo	$132,000	$125	51
1410 Woodbine Dr	0.57mi	3/1.0 (+1)	910 (-7%)	10mo	$130,000	$143	48
310 Fountain St	0.18mi	3/2.0 (+1)	1,080 (+10%)	22mo	$75,000	$69	48
221 E Ninth St	0.58mi	3/2.0 (+1)	1,067 (+9%)	5mo	$199,900	$187	45
1414 Woodbine Dr	0.59mi	3/1.0 (+1)	910 (-7%)	13mo	$129,900	$143	45
219 E 9th St	0.58mi	3/2.0 (+1)	1,067 (+9%)	12mo	$214,000	$201	39
1417 Woodbine Dr	0.60mi	3/1.0 (+1)	864 (-12%)	20mo	$132,000	$153	31

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: -41.2%
• Equity multiple: -0.28×
• Total profit: $-63,880
• Equity at exit: $26,525

10-year hold

• IRR: -68.8%
• Equity multiple: -1.03×
• Total profit: $-100,971
• Equity at exit: $15,382

Cash invested: $49,812 (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: 21.7×

Monthly cashflow live

• Estimated rent: $684 medium
• Mortgage (P&I): −$933
• Tax from tax record: −$83 /mo · $993/yr
• Insurance: −$74
• HOA: −$0
• Vacancy / Maint / Mgmt: −$144
• Net cashflow: $-549

Break-even live

Break-even rent $1,379

Max offer price $80,886

Occupancy floor —

Sensitivity live

Price	-10% $-448	-5% $-499	+0% $-549	+5% $-600	+10% $-650
Rent	-10% $-603	-5% $-576	+0% $-549	+5% $-522	+10% $-495
Rate	-1.0pp $-460	-0.5pp $-504	base $-549	+0.5pp $-595	+1.0pp $-642

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: $44,475
• Closing costs: $5,337
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
701 S Fountain St Connersville, IN	1.0	1.0	600	$550	$0.92	0d	1	0.30mi
430 N Central Ave Apt 103 Connersville, IN	2.0	1.0	650	$700	$1.08	26d	1	0.66mi
309 W 11th St Connersville, IN	2.0	1.0	984	$900	$0.91	26d	1	0.83mi

Listing history 24 events

1. 2026-06-21
   days on market $177,900 Active 23 DOM
2. 2026-06-21
   days on market $177,900 Active 22 DOM
3. 2026-06-18
   days on market $177,900 Active 20 DOM
4. 2026-06-17
   days on market $177,900 Active 19 DOM
5. 2026-06-16
   days on market $177,900 Active 18 DOM
6. 2026-06-15
   days on market $177,900 Active 17 DOM
7. 2026-06-13
   days on market $177,900 Active 15 DOM
8. 2026-06-12
   days on market $177,900 Active 14 DOM
9. 2026-06-09
   days on market $177,900 Active 11 DOM
10. 2026-06-09
    price $177,900 Active 10 DOM
11. 2026-06-08
    days on market $192,000 Active 10 DOM
12. 2026-06-07
    days on market $192,000 Active 9 DOM
13. 2026-06-07
    days on market $192,000 Active 8 DOM
14. 2026-06-04
    days on market $192,000 Active 5 DOM
15. 2026-06-02
    days on market $192,000 Active 4 DOM
16. 2026-06-01
    days on market $192,000 Active 3 DOM
17. 2026-05-31
    days on market $192,000 Active 2 DOM
18. 2026-05-28
    listed $192,000 Active

    Show marketing remark (814 chars)

    Welcome home to this beautifully remodeled 3 bedroom, 2.5 bath property featuring a bright, open layout with modern finishes throughout. The spacious living area flows seamlessly into the updated kitchen, complete with sleek cabinetry, contemporary lighting and a large center island perfect for entertaining. Beyond the living area you will find the primary suite with a large master bath and closet. Additionally, on the main level you will find a spacious dining room as well as a utility room and half bath. Up the stairs you will enter a loft adding extra space for personal desires, with two additional bedrooms as well as another full bath. On the back side of the home, enjoy a large deck, perfect for entertaining. This newly renovated home won't last long, call today for your personal tour 765-698-7906.

19. 2026-05-28
    listed $192,000 Active 814-char remark

    Show marketing remark (814 chars)

    Welcome home to this beautifully remodeled 3 bedroom, 2.5 bath property featuring a bright, open layout with modern finishes throughout. The spacious living area flows seamlessly into the updated kitchen, complete with sleek cabinetry, contemporary lighting and a large center island perfect for entertaining. Beyond the living area you will find the primary suite with a large master bath and closet. Additionally, on the main level you will find a spacious dining room as well as a utility room and half bath. Up the stairs you will enter a loft adding extra space for personal desires, with two additional bedrooms as well as another full bath. On the back side of the home, enjoy a large deck, perfect for entertaining. This newly renovated home won't last long, call today for your personal tour 765-698-7906.

20. 2024-10-17
    soldstatus $30,000 Closed
21. 2024-10-17
    soldstatus $30,000
22. 2024-10-09
    status Pending
23. 2024-09-25
    listed $24,900 Active
24. 2023-08-09
    soldstatus $35,000

ⓘ 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: $993 · $83/mo
• Projected year-2 tax: $1,253 · $104/mo
• Expected delta: +$260/yr (+$22/mo · 26.1%)

ⓘ 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 ≥100°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 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $8,212
• − Mortgage interest: −$9,965
• − Property taxes: −$993
• − Insurance: −$890
• − Repairs & maintenance: −$657
• − Management: −$657
• − Depreciation: −$5,175
• Taxable loss: −$10,125
• Est. tax savings @ 24.0%: +$2,430
• After-tax cash flow: $-4,160/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

+448.6% since first listed

7 events — show timeline

• 2026-05-28 Listed $192,000 RRELMS
• 2026-05-28 Listed $192,000 ECIAOR
• 2024-10-17 Sold (Public Records) $30,000 Public Records
• 2024-10-17 Sold (MLS) $30,000 ECIAOR
• 2024-10-09 Pending — ECIAOR
• 2024-09-25 Listed $24,900 ECIAOR
• 2023-08-09 Sold (Public Records) $35,000 Public Records

Property tax history

+10.7%/yr

Latest (2024): $993 · +16.1% YoY. Source: county tax records.