210 25th St · Connersville, IN 47331

$38,500

2 bd · 1.0 ba · 850 sqft · SingleFamily public records · 52 Days on market

Built 1949 4,356 sqft lot $45/sqft · 69% below area ↓ 5% since listing

---

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

Listing remarks MLS

2-bedroom home offering convenience and accessibility. This inviting property features a thoughtfully designed handicap-accessible bathroom, providing ease of use and peace of mind. The home offers a functional layout with cozy living spaces, perfect for everyday living or investment potential. Home does need some TLC. A highly motivated seller makes this an excellent opportunity - don’t miss your chance to make this home your own!

Key facts

• 4,356 sq ft lot
• Built 1949
• Listed 52 days

Property features AI

Exterior

• Utilities: Public water; Public sewer
• Home design: Single family residence; Residential property
• Construction: Frame construction
• Exterior features: Shed(s); Lot approximately 50 x 83 (0.1 acre)

Interior

• Kitchen: Range; Refrigerator
• Bedrooms: 5 total rooms (bedroom count not specified)
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: Range, Refrigerator, Gas water heater; Crawl space basement
• Laundry & utility: Gas water heater

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $38k.

Deal economics

• At list price, monthly cash flow is $484 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($900 rent vs $38k).
• Recommended offer: $37k (3.0% below list) — sets the bar for market timing.
• Cap rate 21.4% 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+, 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: Grandview Elementary School (math 27% / reading 37%, grade F, #652 of 994 statewide, top 68%, 539 students, 71% FRL).
• 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 $266 of loan paydown is wiped out by about $1k 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 $11k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 52 days — a 3% lower offer ($37k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $2k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1949 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $37,345 (3.0% below list)

Questions for the listing agent

1. It's been on market 52 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1949 — 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. 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: 2.34% ✓
• Cap rate: 21.39%
• Cash-on-cash: 53.92%
• DSCR: 3.40
• GRM: 3.6

CMA / ARV

• ARV (median comp): $124,806
• List price: $38,500
• Delta: -69.15%
• 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
2601 Virginia Ave	0.09mi	2/1.0	830 (-2%)	2mo	$143,000	$172	90
2407 Virginia Ave	0.11mi	2/1.0	884 (+4%)	6mo	$124,900	$141	83
2827 N Grand Ave	0.35mi	2/1.0	880 (+4%)	8mo	$131,000	$149	71
2345 Ohio Ave	0.15mi	3/1.0 (+1)	792 (-7%)	9mo	$129,900	$164	70
110 W 28th St	0.24mi	2/1.0	754 (-11%)	1mo	$119,000	$158	70
2848 Iowa Ave	0.40mi	2/1.0	884 (+4%)	8mo	$75,000	$85	67
2308 Vermont Ave	0.33mi	2/1.0	780 (-8%)	6mo	$115,000	$147	66
529 W 20th St	0.69mi	2/1.0	884 (+4%)	7mo	$87,000	$98	56
506 32nd St	0.59mi	2/1.0	744 (-12%)	2mo	$110,000	$148	50
710 Scott St	0.64mi	2/1.0	928 (+9%)	8mo	$137,000	$148	48
636 Lexington Pl	0.66mi	2/1.0	960 (+13%)	5mo	$110,000	$115	43
701 W 32nd St	0.62mi	2/1.0	744 (-12%)	9mo	$111,000	$149	43

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: 52.0%
• Equity multiple: 3.28×
• Total profit: $24,603
• Equity at exit: $5,740

10-year hold

• IRR: 57.3%
• Equity multiple: 6.67×
• Total profit: $61,107
• Equity at exit: $3,329

Cash invested: $10,780 (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: 3.6×

Monthly cashflow live

• Estimated rent: $900 medium
• Mortgage (P&I): −$202
• Tax from tax record: −$9 /mo · $104/yr
• Insurance: −$16
• HOA: −$0
• Vacancy / Maint / Mgmt: −$189
• Net cashflow: $484

Break-even live

Break-even rent $287

Max offer price $38,500

Occupancy floor 41%

Sensitivity live

Price	-10% $506	-5% $495	+0% $484	+5% $474	+10% $463
Rent	-10% $413	-5% $449	+0% $484	+5% $520	+10% $556
Rate	-1.0pp $504	-0.5pp $494	base $484	+0.5pp $474	+1.0pp $464

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: $9,625
• Closing costs: $1,155
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
309 W 11th St Connersville, IN	2.0	1.0	984	$900	$0.91	25d	1	1.32mi

Listing history 19 events

1. 2026-06-21
   days on market $38,500 Active 52 DOM
2. 2026-06-21
   days on market $38,500 Active 51 DOM
3. 2026-06-18
   days on market $38,500 Active 49 DOM
4. 2026-06-17
   days on market $38,500 Active 48 DOM
5. 2026-06-16
   days on market $38,500 Active 47 DOM
6. 2026-06-15
   days on market $38,500 Active 46 DOM
7. 2026-06-13
   days on market $38,500 Active 44 DOM
8. 2026-06-12
   days on market $38,500 Active 43 DOM
9. 2026-06-09
   days on market $38,500 Active 40 DOM
10. 2026-06-08
    days on market $38,500 Active 39 DOM
11. 2026-06-07
    days on market $38,500 Active 38 DOM
12. 2026-06-07
    days on market $38,500 Active 37 DOM
13. 2026-06-04
    days on market $38,500 Active 34 DOM
14. 2026-06-02
    days on market $38,500 Active 33 DOM
15. 2026-06-01
    days on market $38,500 Active 32 DOM
16. 2026-05-31
    days on market $38,500 Active 31 DOM
17. 2026-05-31
    days on market $38,500 Active 30 DOM
18. 2026-04-29
    listed $40,500 Active 441-char remark

    Show marketing remark (441 chars)

    2-bedroom home offering convenience and accessibility. This inviting property features a thoughtfully designed handicap-accessible bathroom, providing ease of use and peace of mind. The home offers a functional layout with cozy living spaces, perfect for everyday living or investment potential. Home does need some TLC. A highly motivated seller makes this an excellent opportunity - don’t miss your chance to make this home your own!

19. 2026-04-29
    listed $40,900 Active

    Show marketing remark (441 chars)

    2-bedroom home offering convenience and accessibility. This inviting property features a thoughtfully designed handicap-accessible bathroom, providing ease of use and peace of mind. The home offers a functional layout with cozy living spaces, perfect for everyday living or investment potential. Home does need some TLC. A highly motivated seller makes this an excellent opportunity - don’t miss your chance to make this home your own!

ⓘ 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: $104 · $9/mo
• Projected year-2 tax: $216 · $18/mo
• Expected delta: +$112/yr (+$9/mo · 107.5%)

ⓘ 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 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: $10,800
• − Mortgage interest: −$2,157
• − Property taxes: −$104
• − Insurance: −$192
• − Repairs & maintenance: −$864
• − Management: −$864
• − Depreciation: −$1,120
• Taxable income: $5,499
• Est. tax owed @ 24.0%: −$1,320
• After-tax cash flow: $4,493/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

-4.9% since first listed

4 events — show timeline

• 2026-05-20 Price Changed $38,500 RRELMS
• 2026-05-20 Price Changed $38,500 ECIAOR
• 2026-04-29 Listed $40,900 ECIAOR
• 2026-04-29 Listed $40,500 RRELMS