1934 Division St · New Albany, IN 47150

$155,000

3 bd · 1.0 ba · 1,204 sqft · SingleFamily public records · 16 Days on market

Built 1929 3,484 sqft lot Est $202k · 23% under

---

Why this score? — see what drove the C- 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).

• ARV discount +15.0/15.0
• Cash flow +14.2/30.0
• DSCR +4.3/10.0
• Rent growth +4.3/5.0
• Schools +4.2/10.0
• 1% rule +4.0/10.0
• Livability +3.7/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome home to 1934 Division Street! This charming 3-bedroom, 1-bathroom home offers exceptional curb appeal and is nestled in a prime New Albany, IN location. Thoughtfully maintained, it perfectly balances comfort and functionality. The standout lot is ideal for outdoor entertaining, while the fully fenced yard provides a safe, spacious area for pets and children to play. Residents enjoy easy access to local amenities, schools, parks, and more. Don’t miss your opportunity to make this home yours—schedule a showing today!

Key facts

• Standout lot
• Outdoor entertaining
• Fully fenced yard

Tags

• STANDOUT LOT
• FULLY FENCED YARD
• OUTDOOR ENTERTAINING
• EASY ACCESS TO LOCAL AMENITIES

Property features AI

Finance

• Other: Residential zoning

Exterior

• Parking: Detached garage with garage door opener (1-car)
• Utilities: Public water; Public sewer
• Home design: Single-story home; Frame construction; Shingle roof
• Construction: Frame construction; Crawlspace foundation
• Exterior features: Yard fenced; Fence; Detached garage structure

Interior

• Kitchen: Oven; Range
• Bedrooms: Three bedrooms on the first level
• Flooring: Carpet in living areas and bedrooms; Linoleum in kitchen and bathroom
• Bathrooms: One full bathroom
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: Crawl space; 7 total rooms
• Laundry & utility: Washer; Dryer; Laundry on the main level

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $155k.

Deal economics

• At list price, monthly cash flow is $26 ($317/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 $139k (10.4% below list).
• Recommended offer: $139k (10.4% below list) — sets the bar for 1% rule.
• Cap rate 6.5% 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; 20 comparable units currently listed for rent nearby; rentals at typical pace (median 23d 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 $1k of loan paydown is wiped out by about $5k 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.

Negotiation context

• It's been on market 16 days — a 2% lower offer ($153k) is reasonable based on typical stale-listing flexibility.

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 $138,939 (10.4% below list)

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: 0.90% ✗
• Cap rate: 6.50%
• Cash-on-cash: 0.73%
• DSCR: 1.03
• GRM: 9.3

CMA / ARV

• ARV (on-the-fly): $202,272
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
245 Silver St	0.20mi	3/2.0	1,180 (-2%)	1mo	$199,900	$169	83
1825 Conservative St	0.17mi	3/2.0	1,248 (+4%)	2mo	$210,000	$168	80
1935 Center	0.04mi	3/2.0	1,316 (+9%)	2mo	$266,900	$203	77
2107 E Market St	0.19mi	3/2.0	1,125 (-7%)	2mo	$220,000	$196	74
2119 Reno Ave	0.21mi	2/2.0 (-1)	1,248 (+4%)	2mo	$207,000	$166	74
1804 Ekin Ave	0.38mi	3/2.0	1,174 (-2%)	2mo	$246,500	$210	72
2231 E Oak St	0.41mi	3/1.0	1,134 (-6%)	4mo	$209,000	$184	68
2227 Ekin Ave	0.46mi	3/1.0	1,341 (+11%)	1mo	$197,400	$147	59
1409 Locust	0.74mi	3/1.0	1,240 (+3%)	2mo	$183,563	$148	58
1505 E Oak St	0.51mi	3/2.0	1,312 (+9%)	1mo	$195,000	$149	56
1132 Greenaway Pl	0.74mi	3/1.0	1,270 (+6%)	3mo	$105,000	$83	54
1428 Locust St	0.71mi	2/1.0 (-1)	1,084 (-10%)	2mo	$143,500	$132	44

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: -10.5%
• Equity multiple: 0.60×
• Total profit: $-17,231
• Equity at exit: $23,111

10-year hold

• IRR: 4.0%
• Equity multiple: 1.34×
• Total profit: $14,931
• Equity at exit: $13,402

Cash invested: $43,400 (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: 9.3×

Monthly cashflow live

• Estimated rent: $1,389 high
• Mortgage (P&I): −$813
• Tax est. 1.5%: −$194 /mo · $2,325/yr
• Insurance: −$65
• HOA: −$0
• Vacancy / Maint / Mgmt: −$292
• Net cashflow: $26

Break-even live

Break-even rent $1,356

Max offer price $155,000

Occupancy floor 93%

Sensitivity live

Price	-10% $134	-5% $80	+0% $26	+5% $-27	+10% $-81
Rent	-10% $-83	-5% $-28	+0% $26	+5% $81	+10% $136
Rate	-1.0pp $105	-0.5pp $66	base $26	+0.5pp $-14	+1.0pp $-55

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: $38,750
• Closing costs: $4,650
• Reserves months: —
• Total cash needed: —

Rent comps 20 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1915 Culbertson Ave New Albany, IN	3.0	1.0	1000	$1,450	$1.45	18d	1	0.27mi
2201 Ekin Ave New Albany, IN	2.0	1.0	1300	$1,350	$1.04	5d	1	0.42mi
808 Vincennes St New Albany, IN	2.0	1.5	1444	$2,000	$1.39	23d	1	0.45mi
1307 E Market St #1 New Albany, IN	2.0	1.0	936	$1,190	$1.27	18d	1	0.59mi
1112 E Spring St Unit 1 New Albany, IN	2.0	2.0	1200	$1,440	$1.20	25d	1	0.67mi
905 E Elm St New Albany, IN	1.0–2.0	1.0	937	$1,035	$1.10	25d	1	0.80mi
901 E Oak St New Albany, IN	3.0	1.0	1100	$1,350	$1.23	25d	1	0.80mi
812 Culbertson Ave New Albany, IN	2.0	1.0	1000	$1,095	$1.09	23d	1	0.83mi
807 E Main St New Albany, IN	3.0	2.0	1500	$1,650	$1.10	21d	1	0.93mi
1316 Roosevelt Ave Unit 11 New Albany, IN	2.0	1.5	700	$950	$1.36	25d	1	0.94mi
608 E Spring St Unit 2 New Albany, IN	2.0	2.0	1100	$1,195	$1.09	25d	1	0.99mi
608 E Spring St Unit 2 New Albany, IN	2.0	2.0	1100	$1,195	$1.09	5d	1	0.99mi
520 Culbertson Ave Unit B New Albany, IN	3.0	2.0	1000	$1,395	$1.40	5d	1	1.01mi
309 E Spring St Unit 310-106 New Albany, IN	2.0	2.0	1005	$1,250	$1.24	18d	1	1.16mi
309 E Spring St Unit 310-203 New Albany, IN	2.0	2.5	1005	$1,250	$1.24	5d	1	1.16mi
1429 Slate Run Rd New Albany, IN	1.0–2.0	1.0–2.0	1200	$1,365	$1.14	16d	4	1.24mi
1108 State St New Albany, IN	2.0	1.0	982	$1,150	$1.17	23d	1	1.44mi
652 N 29th St Louisville, KY	3.0	1.0	1127	$1,350	$1.20	18d	1	1.45mi
508 Hale Rd Unit 5 Clarksville, IN	2.0	1.0	850	$1,000	$1.18	45d	1	1.45mi
2906 Montgomery St Unit B Louisville, KY	3.0	1.0	1152	$1,060	$0.92	25d	1	1.50mi

Listing history 11 events

1. 2026-06-21
   pricedays on market $155,000 Active 16 DOM
2. 2026-06-18
   days on market $160,000 Active 13 DOM
3. 2026-06-17
   days on market $160,000 Active 12 DOM
4. 2026-06-16
   days on market $160,000 Active 11 DOM
5. 2026-06-15
   days on market $160,000 Active 10 DOM
6. 2026-06-13
   days on market $160,000 Active 8 DOM
7. 2026-06-10
   days on market $160,000 Active 5 DOM
8. 2026-06-09
   days on market $160,000 Active 4 DOM
9. 2026-06-08
   days on market $160,000 Active 3 DOM
10. 2026-06-07
    remarks 528-char remark
11. 2026-06-07
    listed $160,000 Active 2 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

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 · 20 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 2% 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: $16,673
• − Mortgage interest: −$8,682
• − Property taxes: −$2,325
• − Insurance: −$775
• − Repairs & maintenance: −$1,334
• − Management: −$1,334
• − Depreciation: −$4,509
• Taxable loss: −$2,286
• Est. tax savings @ 24.0%: +$549
• After-tax cash flow: $866/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

• 2026-06-04 Listed $160,000 SIRA

Property tax history

-9.5%/yr

Latest (2025): $28 · +2.0% YoY. Source: county tax records.