720 E Christian St · Princeton, IN 47670

$199,000

3 bd · 2.0 ba · 1,736 sqft · SingleFamily public records · 2 Days on market

Built 1986 8,712 sqft lot Est $155k · 29% 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 +14.6/30.0
• DSCR +4.4/10.0
• Livability +3.6/5.0
• 1% rule +3.0/10.0
• Schools +2.7/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Key facts

• Open views
• Private back porch
• Across from a park

Tags

• PRIVATE BACK PORCH
• ACROSS FROM A PARK
• OPEN VIEWS

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $199k.

Deal economics

• At list price, monthly cash flow is $46 ($556/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 $160k (19.6% below list).
• Recommended offer: $160k (19.6% below list) — sets the bar for 1% rule.
• Cap rate 6.6% vs local median 4.7% in Princeton — 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 71/100 on livability (#131 in IN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: employment C-, amenities F, commute F.
• North Gibson School Corporation (rural): math 28% / reading 36% proficiency, ranked #223 of 301 in IN (top 74%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Princeton Comm Primary School (414 students, 53% FRL); Princeton Community Middle (math 23% / reading 37%, grade F, #208 of 330 statewide, top 64%, 431 students, 53% FRL); Princeton Community High School (math 22% / reading 57%, grade F, #221 of 369 statewide, top 63%, 618 students, 41% FRL).
• Market conditions: 143 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 167 units permitted in Gibson County in 2024 (68 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.
• Gibson County population projected to shrink 10% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.

Negotiation context

• Only 2 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $80k; list at $199k implies a 149% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $160,000 (19.6% below list)

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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?
3. 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?
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: 0.80% ✗
• Cap rate: 6.57%
• Cash-on-cash: 1.00%
• DSCR: 1.04
• GRM: 10.4

CMA / ARV

• ARV (on-the-fly): $154,504
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
222 E Clark St	0.46mi	2/2.0 (-1)	1,745 (+0%)	5mo	$175,000	$100	69
304 E Indiana St	0.37mi	3/2.0	1,705 (-2%)	14mo	$236,000	$138	69
827 S Stormont St	0.18mi	4/1.0 (+1)	1,600 (-8%)	7mo	$51,500	$32	64
315 S Gibson St	0.46mi	3/2.0	1,587 (-9%)	5mo	$176,000	$111	60
617 S Seminary St	0.31mi	3/1.5	1,936 (+12%)	6mo	$70,000	$36	59
330 S Seminary St	0.37mi	4/1.5 (+1)	1,786 (+3%)	14mo	$175,500	$98	59
521 S Gibson St	0.40mi	3/2.0	1,956 (+13%)	9mo	$42,000	$21	53
313 S Race St	0.38mi	3/1.0	1,542 (-11%)	11mo	$137,400	$89	51
701 S Gibson St	0.37mi	4/2.0 (+1)	1,996 (+15%)	4mo	$131,000	$66	50
1027 S Gibson St	0.43mi	4/2.0 (+1)	1,943 (+12%)	8mo	$140,000	$72	48
328 N Gibson St	0.74mi	4/2.0 (+1)	1,832 (+6%)	9mo	$250,000	$136	43
829 S Main St	0.50mi	3/1.0	1,992 (+15%)	9mo	$81,000	$41	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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -14.8%
• Equity multiple: 0.47×
• Total profit: $-29,368
• Equity at exit: $29,672

10-year hold

• IRR: -6.2%
• Equity multiple: 0.60×
• Total profit: $-22,068
• 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 47670

• Home prices YoY: -32.2%
• Active inventory: 143
• Price-to-rent: 10.4×

Monthly cashflow live

• Estimated rent: $1,600 medium
• Mortgage (P&I): −$1,044
• Tax from tax record: −$91 /mo · $1,094/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$336
• Net cashflow: $46

Break-even live

Break-even rent $1,541

Max offer price $199,000

Occupancy floor 92%

Sensitivity live

Price	-10% $159	-5% $103	+0% $46	+5% $-10	+10% $-66
Rent	-10% $-80	-5% $-17	+0% $46	+5% $110	+10% $173
Rate	-1.0pp $147	-0.5pp $97	base $46	+0.5pp $-5	+1.0pp $-58

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 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
515 S Main St Princeton, IN	3.0	2.0	2050	$1,600	$0.78	46d	1	0.52mi

Listing history 3 events

1. 2026-04-13
   status Pending
2. 2026-04-12
   listed $199,000 Active
3. 2017-08-11
   soldstatus $79,900

ⓘ 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: $1,094 · $91/mo
• Projected year-2 tax: $1,393 · $116/mo
• Expected delta: +$299/yr (+$25/mo · 27.3%)

ⓘ 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 5/10 Major 7 d/yr ≥106°F today · 19 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 4% 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: $19,200
• − Mortgage interest: −$11,147
• − Property taxes: −$1,094
• − Insurance: −$995
• − Repairs & maintenance: −$1,536
• − Management: −$1,536
• − Depreciation: −$5,789
• Taxable loss: −$2,897
• Est. tax savings @ 24.0%: +$695
• After-tax cash flow: $1,251/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: North Gibson School Corporation
• NCES district ID: 1807770
• Math proficiency: 28% ▼ -10.00%
• Reading proficiency: 36% ▼ -4.00%
• Median HH income: $44,595
• Composite: 27.32/100
• National rank: #6992
• State rank: #223 of 301 in IN

Livability — Princeton

• Score: 71/100
• State rank: #131
• US rank: #6840

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Princeton, IN
• Population (ZIP): 11,638

Population outlook (Gibson County) Hauer SSP2

• Today (2025): 33,671 people
• By 2030: 33,409 · -0.8%
• By 2040: 32,364 · -3.9%
• By 2050: 30,453 · -9.6%
• By 2075: 24,610 · -26.9%
• By 2100: 16,217 · -51.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (85%)
• Race & ethnicity: White 85% Black 5% Hispanic / Latino 4% Two or more races 4%
• Common ancestry: Lithuanian 2% Slovak 2% Serbian 1%
• Foreign-born: 3% · Canada
• Languages at home: 95% English-only · Spanish 3% Other Asian/Pacific 1%

Political lean MEDSL · Gibson

• 2024 margin: Solid R (+51.4) · D 23.4% · R 74.8% · Other 1.8%
• 2008→2024 swing: -38.2pp toward R · 2008: -13.2pp · 2024: -51.4pp
• All cycles: 2024: R+51.4 2020: R+48.2 2016: R+47.6 2012: R+31.0 2008: R+13.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -104.47%
• Current HPI: 219.932
• 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

+149.1% since first listed

3 events — show timeline

• 2026-04-13 Pending — IRMLS
• 2026-04-12 Listed $199,000 IRMLS
• 2017-08-11 Sold (Public Records) $79,900 Public Records

Property tax history

-3.0%/yr

Latest (2024): $1,094 · +0.4% YoY. Source: county tax records.