9175 Walnut St · Georgetown, IN 47122

$215,000

3 bd · 1.0 ba · 1,512 sqft · SingleFamily public records · 45 Days on market

Built 1929 8,276 sqft lot Est $310k · 31% under

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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).

• ARV discount +15.0/15.0
• Cash flow +14.4/30.0
• DSCR +4.4/10.0
• Schools +4.2/10.0
• Livability +3.6/5.0
• 1% rule +2.7/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Located in the heart of Georgetown, this charming 3 bedroom, 2 full baths, eat-in kitchen with appliances, can be your new home. Minutes from Georgetown Park, this home sits on a corner lot with a large fenced backyard offering ample space for gatherings / gardening. Detached garage / workshop space. You'll enjoy large windows that provide an abundance of natural light, spacious laundry room with washer and dryer, and a warm & inviting gas fireplace. Absolutely priceless !!! Seller is providing a 1-yr HSA Home Warranty. Listing agent is related to seller.

Key facts

• Metal roof
• Farmhouse style
• Eat in kitchen

Tags

• FARMHOUSE STYLE
• TWO LIVING AREAS
• EAT IN KITCHEN
• PRIVATE PRIMARY SUITE BATH
• METAL ROOF
• NEWLY INSULATED FLOORS

Property features AI

Finance

• Financial info: Annual tax amount available

Exterior

• Parking: Detached garage; 1 garage space
• Utilities: Public water (connected); Public sewer
• Home design: Resale property; Residential zoning; Paved road access
• Construction: Metal roof; Vinyl siding; Cellar foundation; Built with conventional construction (resale)
• Exterior features: Deck; Fenced yard; Landscaping; Attached garage structure noted (garage present)

Interior

• Kitchen: Dishwasher; Oven; Range; Refrigerator; Eat-in kitchen layout
• Bedrooms: Bedrooms on second floor
• Bathrooms: Two full bathrooms (one on first floor, one on second floor)
• Interior features: Ceiling fans; Eat-in kitchen; In-law floorplan; Primary bedroom with bath; Utility room; Full basement; One fireplace
• Laundry & utility: Main-level laundry room

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $215k.

Deal economics

• At list price, monthly cash flow is $45 ($542/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 $165k (23.3% below list).
• Recommended offer: $165k (23.3% below list) — sets the bar for 1% rule.
• Cap rate 6.5% vs local median 2.2% in Georgetown — 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 72/100 on livability (#117 in IN) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, cost of living A+; Watch: amenities F, commute F, health & safety 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.
• Market conditions: 114 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 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 $6k 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 45 days — a 3% lower offer ($209k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 10y ago; this cycle's ask has dropped $35k (14%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $185k; 16% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1929 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $165,000 (23.3% below list)

Questions for the listing agent

1. It's been on market 45 days. Have you received any prior offers? Is the seller open to a 23% 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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
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: 0.77% ✗
• Cap rate: 6.55%
• Cash-on-cash: 0.90%
• DSCR: 1.04
• GRM: 10.9

CMA / ARV

• ARV (on-the-fly): $309,960
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
7012 - LOT 923 Mitsch Ln	0.19mi	3/2.0	1,425 (-6%)	0mo	$328,705	$231	78
7006- LOT 920 Mitsch Ln	0.19mi	3/2.0	1,413 (-6%)	4mo	$302,900	$214	73
8122 Autumn Dr	0.44mi	3/2.0	1,475 (-2%)	1mo	$284,900	$193	71
7002 - LOT 918 Mitsch Ln	0.19mi	3/2.0	1,413 (-6%)	8mo	$297,900	$211	70
7001 - LOT 971 Mitsch Ln	0.19mi	3/2.0	1,329 (-12%)	1mo	$281,900	$212	66
7003- LOT 970 Mitsch Ln	0.19mi	3/2.0	1,329 (-12%)	1mo	$272,000	$205	66
8126 Autumn Dr	0.46mi	3/2.0	1,475 (-2%)	9mo	$284,000	$193	63
7004 - LOT 919 Mitsch Ln	0.19mi	4/2.0 (+1)	1,672 (+11%)	7mo	$299,900	$179	59
7012 Dylan (lot 405) Cir	0.19mi	3/2.0	1,702 (+13%)	9mo	$375,000	$220	59
9180 Robin Rd	0.40mi	4/2.0 (+1)	1,632 (+8%)	2mo	$200,000	$123	57
9185 Nina Dr	0.43mi	3/2.5	1,698 (+12%)	0mo	$160,000	$94	53
8303 Short St	0.62mi	2/1.0 (-1)	1,400 (-7%)	9mo	$127,500	$91	46

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: -14.9%
• Equity multiple: 0.47×
• Total profit: $-32,076
• Equity at exit: $32,057

10-year hold

• IRR: -6.4%
• Equity multiple: 0.59×
• Total profit: $-24,691
• Equity at exit: $18,589

Cash invested: $60,200 (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 47122

• Home prices YoY: -34.0%
• Active inventory: 114
• Price-to-rent: 10.9×

Monthly cashflow live

• Estimated rent: $1,650 medium
• Mortgage (P&I): −$1,127
• Tax from tax record: −$41 /mo · $495/yr
• Insurance: −$90
• HOA: −$0
• Vacancy / Maint / Mgmt: −$346
• Net cashflow: $45

Break-even live

Break-even rent $1,593

Max offer price $215,000

Occupancy floor 92%

Sensitivity live

Price	-10% $167	-5% $106	+0% $45	+5% $-16	+10% $-77
Rent	-10% $-85	-5% $-20	+0% $45	+5% $110	+10% $176
Rate	-1.0pp $153	-0.5pp $100	base $45	+0.5pp $-11	+1.0pp $-67

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: $53,750
• Closing costs: $6,450
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
8945 High St Georgetown, IN	2.0	1.5	1188	$1,650	$1.39	15d	1	0.19mi

Listing history 22 events

1. 2026-06-18
   days on market $215,000 Active 45 DOM
2. 2026-06-17
   price $215,000 Active 44 DOM
3. 2026-06-17
   days on market $220,000 Active 44 DOM
4. 2026-06-16
   days on market $220,000 Active 43 DOM
5. 2026-06-15
   days on market $220,000 Active 42 DOM
6. 2026-06-13
   days on market $220,000 Active 40 DOM
7. 2026-06-10
   pricedays on market $220,000 Active 37 DOM
8. 2026-06-09
   days on market $227,500 Active 36 DOM
9. 2026-06-08
   days on market $227,500 Active 35 DOM
10. 2026-06-07
    days on market $227,500 Active 34 DOM
11. 2026-05-31
    days on market $227,500 Active 29 DOM
12. 2026-05-24
    status Active
13. 2026-05-15
    historical
14. 2026-05-06
    price $235,000
15. 2026-05-04
    price $242,000
16. 2026-04-23
    listed $250,000 Active
17. 2022-09-15
    soldstatus $185,200 Closed 571-char remark

    Show marketing remark (571 chars)

    Located in the heart of Georgetown, this charming 3 bedroom, 2 full baths, eat-in kitchen with appliances, can be your new home. Minutes from Georgetown Park, this home sits on a corner lot with a large fenced backyard offering ample space for gatherings / gardening. Detached garage / workshop space. You'll enjoy large windows that provide an abundance of natural light, spacious laundry room with washer and dryer, and a warm & inviting gas fireplace. Absolutely priceless !!! Seller is providing a 1-yr HSA Home Warranty. Listing agent is related to seller.

18. 2022-09-02
    status Pending 571-char remark

    Show marketing remark (571 chars)

    Located in the heart of Georgetown, this charming 3 bedroom, 2 full baths, eat-in kitchen with appliances, can be your new home. Minutes from Georgetown Park, this home sits on a corner lot with a large fenced backyard offering ample space for gatherings / gardening. Detached garage / workshop space. You'll enjoy large windows that provide an abundance of natural light, spacious laundry room with washer and dryer, and a warm & inviting gas fireplace. Absolutely priceless !!! Seller is providing a 1-yr HSA Home Warranty. Listing agent is related to seller.

19. 2022-08-29
    listed $187,000 Active 571-char remark

    Show marketing remark (571 chars)

    Located in the heart of Georgetown, this charming 3 bedroom, 2 full baths, eat-in kitchen with appliances, can be your new home. Minutes from Georgetown Park, this home sits on a corner lot with a large fenced backyard offering ample space for gatherings / gardening. Detached garage / workshop space. You'll enjoy large windows that provide an abundance of natural light, spacious laundry room with washer and dryer, and a warm & inviting gas fireplace. Absolutely priceless !!! Seller is providing a 1-yr HSA Home Warranty. Listing agent is related to seller.

20. 2016-04-22
    soldstatus $115,000 557-char remark

    Show marketing remark (557 chars)

    How could you pass up THIS?! Make the heart of Georgetown your new home with this newly renovated charmer. With 3 bedrooms and two FULL baths, this home has loads to offer including a large eat-in kitchen with all appliances to STAY, tons of entertaining space and a HUGE backyard complete with a privacy fence! Take all the worry out of buying--NEW carpet, replacement windows, Furnace/AC less than a year old and a METAL roof that is 4 years young! All of this with a 1 1/2 car garage AND in the Award Winning Floyd Central School District?! What a deal!!

21. 2016-03-04
    listed $115,000 557-char remark

    Show marketing remark (557 chars)

    How could you pass up THIS?! Make the heart of Georgetown your new home with this newly renovated charmer. With 3 bedrooms and two FULL baths, this home has loads to offer including a large eat-in kitchen with all appliances to STAY, tons of entertaining space and a HUGE backyard complete with a privacy fence! Take all the worry out of buying--NEW carpet, replacement windows, Furnace/AC less than a year old and a METAL roof that is 4 years young! All of this with a 1 1/2 car garage AND in the Award Winning Floyd Central School District?! What a deal!!

22. 2011-05-05
    soldstatus $92,000

ⓘ 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: $495 · $41/mo
• Projected year-2 tax: $1,161 · $97/mo
• Expected delta: +$666/yr (+$56/mo · 134.7%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 5/10 Major 7 d/yr ≥103°F today · 21 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: $19,800
• − Mortgage interest: −$12,043
• − Property taxes: −$495
• − Insurance: −$1,075
• − Repairs & maintenance: −$1,584
• − Management: −$1,584
• − Depreciation: −$6,255
• Taxable loss: −$3,236
• Est. tax savings @ 24.0%: +$777
• After-tax cash flow: $1,319/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 — Georgetown

• Score: 72/100
• State rank: #117
• US rank: #6329

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Georgetown, IN
• Population (ZIP): 11,230

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 (95%)
• Race & ethnicity: White 95% Two or more races 3% Hispanic / Latino 2%
• Common ancestry: Italian 2% Slovak 2% Lithuanian 2%
• Foreign-born: 0%
• Languages at home: 99% English-only · Spanish 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: ▼ -101.62%
• Current HPI: 197.107
• 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

+155.4% since first listed

11 events — show timeline

• 2026-05-24 Relisted — SIRA
• 2026-05-15 Delisted — SIRA
• 2026-05-06 Price Changed $235,000 SIRA
• 2026-05-04 Price Changed $242,000 SIRA
• 2026-04-23 Listed $250,000 SIRA
• 2022-09-15 Sold (MLS) $185,200 SIRA
• 2022-09-02 Pending — SIRA
• 2022-08-29 Listed $187,000 SIRA
• 2016-04-22 Sold (MLS) $115,000 SIRA
• 2016-03-04 Listed $115,000 SIRA
• 2011-05-05 Sold (Public Records) $92,000 Public Records

Property tax history

+5.0%/yr

Latest (2024): $495 · -9.2% YoY. Source: county tax records.