1727 Plum St · New Castle, IN 47362

$119,900

4 bd · 2.0 ba · 2,806 sqft · SingleFamily public records · 77 Days on market

Built 1900 6,970 sqft lot $43/sqft · 7% above area Est $169k · 29% under

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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 +26.9/30.0
• ARV discount +15.0/15.0
• DSCR +9.3/10.0
• 1% rule +6.3/10.0
• Livability +3.8/5.0
• Rent growth +3.6/5.0
• Schools +2.7/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

This versatile home, originally designed as a duplex, offers the potential for easy conversion back to its original layout. Situated on a corner lot, the property features a fenced yard and a generous 3+ car detached garage with attic storage, ensuring ample space for vehicles and belongings. With off-street parking available, this residence can accommodate up to 6 bedrooms or provide abundant flexible living spaces. There are 2 full bathrooms and a large kitchen, perfect for gatherings. Enjoy the convenience of a basement, a covered front porch, and a nice utility/laundry area located on the main level. Recent updates include newer flooring in several areas, along with hardwood floors in others. The main floor offers 1 or 2 bedrooms, and the home features two stairways.

Key facts

• Fenced yard
• Attic storage
• Off-street parking

Tags

• CORNER LOT
• FENCED YARD
• DETACHED GARAGE
• ATTIC STORAGE
• OFF-STREET PARKING
• FLEXIBLE LIVING SPACES

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $120k.

Deal economics

• At list price, monthly cash flow is $330 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $120k).
• Recommended offer: $113k (6.0% below list) — sets the bar for market timing.
• Cap rate 9.6% vs local median 4.8% in New Castle — 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 75/100 on livability (#64 in IN, #4,219 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: schools D+, amenities F, commute F.
• New Castle Community School Corporation (town): math 30% / reading 35% proficiency, ranked #229 of 301 in IN (top 76%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising fast (+4.6%/yr); 214 active listings in the ZIP; 47 units permitted in Henry County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $829 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Henry County population projected at -12% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 4.6% rent growth), your $34k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 77 days — a 6% lower offer ($113k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 16y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $50k; list at $120k implies a 140% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $112,706 (6.0% below list)

Questions for the listing agent

1. It's been on market 77 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
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: 1.13% ✓
• Cap rate: 9.60%
• Cash-on-cash: 11.81%
• DSCR: 1.53
• GRM: 7.4

CMA / ARV

• ARV (median comp): $168,626
• List price: $119,900
• Delta: -28.90%
• 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
2019 Plum St	0.16mi	3/1.0 (-1)	2,650 (-6%)	3mo	$94,900	$36	72
1538 A Ave	0.23mi	4/2.0	2,598 (-7%)	8mo	$129,000	$50	70
2234 Walnut St	0.34mi	3/1.0 (-1)	2,720 (-3%)	0mo	$140,000	$51	70
711 S 11th St	0.56mi	4/1.5	2,880 (+3%)	3mo	$226,500	$79	65
1621 Grand Ave	0.14mi	4/1.5	2,464 (-12%)	9mo	$154,000	$63	64
131 N 11th St	0.63mi	4/2.0	2,528 (-10%)	2mo	$215,000	$85	52
321 N Main St	0.61mi	3/1.0 (-1)	3,002 (+7%)	0mo	$163,000	$54	50
923 Maplewood Dr	0.64mi	3/2.5 (-1)	2,696 (-4%)	8mo	$294,900	$109	50
630 S 11th St	0.52mi	3/1.0 (-1)	3,096 (+10%)	5mo	$180,000	$58	45
1112 Saint James Dr	0.74mi	5/2.5 (+1)	2,942 (+5%)	7mo	$279,900	$95	44
1010 Church St	0.59mi	3/1.0 (-1)	2,560 (-9%)	5mo	$137,500	$54	44
922 Spring St	0.74mi	5/3.0 (+1)	3,144 (+12%)	2mo	$280,000	$89	34

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 · 4.59% rent growth · sell at horizon

5-year hold

• IRR: 2.9%
• Equity multiple: 1.11×
• Total profit: $3,792
• Equity at exit: $17,877

10-year hold

• IRR: 13.8%
• Equity multiple: 2.18×
• Total profit: $39,631
• Equity at exit: $10,367

Cash invested: $33,572 (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 47362

• Home prices YoY: -16.0%
• Rents YoY: 4.6%
• Active inventory: 214
• Price-to-rent: 7.4×

Monthly cashflow live

• Estimated rent: $1,359 medium
• Mortgage (P&I): −$629
• Tax from tax record: −$64 /mo · $773/yr
• Insurance: −$50
• HOA: −$0
• Vacancy / Maint / Mgmt: −$285
• Net cashflow: $330

Break-even live

Break-even rent $941

Max offer price $119,900

Occupancy floor 71%

Sensitivity live

Price	-10% $398	-5% $364	+0% $330	+5% $296	+10% $263
Rent	-10% $223	-5% $277	+0% $330	+5% $384	+10% $438
Rate	-1.0pp $391	-0.5pp $361	base $330	+0.5pp $299	+1.0pp $268

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: $29,975
• Closing costs: $3,597
• Reserves months: —
• Total cash needed: —

Listing history 14 events

1. 2026-05-13
   status Pending 781-char remark

   Show marketing remark (781 chars)

   This versatile home, originally designed as a duplex, offers the potential for easy conversion back to its original layout. Situated on a corner lot, the property features a fenced yard and a generous 3+ car detached garage with attic storage, ensuring ample space for vehicles and belongings. With off-street parking available, this residence can accommodate up to 6 bedrooms or provide abundant flexible living spaces. There are 2 full bathrooms and a large kitchen, perfect for gatherings. Enjoy the convenience of a basement, a covered front porch, and a nice utility/laundry area located on the main level. Recent updates include newer flooring in several areas, along with hardwood floors in others. The main floor offers 1 or 2 bedrooms, and the home features two stairways.

2. 2026-05-11
   status Pending 781-char remark

   Show marketing remark (781 chars)

   This versatile home, originally designed as a duplex, offers the potential for easy conversion back to its original layout. Situated on a corner lot, the property features a fenced yard and a generous 3+ car detached garage with attic storage, ensuring ample space for vehicles and belongings. With off-street parking available, this residence can accommodate up to 6 bedrooms or provide abundant flexible living spaces. There are 3 full bathrooms and a large kitchen, perfect for gatherings. Enjoy the convenience of a basement, a covered front porch, and a nice utility/laundry area located on the main level. Recent updates include newer flooring in several areas, along with hardwood floors in others. The main floor offers 1 or 2 bedrooms, and the home features two stairways.

3. 2026-05-11
   status Pending

   Show marketing remark (781 chars)

   This versatile home, originally designed as a duplex, offers the potential for easy conversion back to its original layout. Situated on a corner lot, the property features a fenced yard and a generous 3+ car detached garage with attic storage, ensuring ample space for vehicles and belongings. With off-street parking available, this residence can accommodate up to 6 bedrooms or provide abundant flexible living spaces. There are 3 full bathrooms and a large kitchen, perfect for gatherings. Enjoy the convenience of a basement, a covered front porch, and a nice utility/laundry area located on the main level. Recent updates include newer flooring in several areas, along with hardwood floors in others. The main floor offers 1 or 2 bedrooms, and the home features two stairways.

4. 2026-04-13
   status Active 781-char remark

   Show marketing remark (781 chars)

   This versatile home, originally designed as a duplex, offers the potential for easy conversion back to its original layout. Situated on a corner lot, the property features a fenced yard and a generous 3+ car detached garage with attic storage, ensuring ample space for vehicles and belongings. With off-street parking available, this residence can accommodate up to 6 bedrooms or provide abundant flexible living spaces. There are 2 full bathrooms and a large kitchen, perfect for gatherings. Enjoy the convenience of a basement, a covered front porch, and a nice utility/laundry area located on the main level. Recent updates include newer flooring in several areas, along with hardwood floors in others. The main floor offers 1 or 2 bedrooms, and the home features two stairways.

5. 2026-04-13
   status Active 781-char remark

   Show marketing remark (781 chars)

   This versatile home, originally designed as a duplex, offers the potential for easy conversion back to its original layout. Situated on a corner lot, the property features a fenced yard and a generous 3+ car detached garage with attic storage, ensuring ample space for vehicles and belongings. With off-street parking available, this residence can accommodate up to 6 bedrooms or provide abundant flexible living spaces. There are 2 full bathrooms and a large kitchen, perfect for gatherings. Enjoy the convenience of a basement, a covered front porch, and a nice utility/laundry area located on the main level. Recent updates include newer flooring in several areas, along with hardwood floors in others. The main floor offers 1 or 2 bedrooms, and the home features two stairways.

6. 2026-04-13
   status Active

   Show marketing remark (781 chars)

   This versatile home, originally designed as a duplex, offers the potential for easy conversion back to its original layout. Situated on a corner lot, the property features a fenced yard and a generous 3+ car detached garage with attic storage, ensuring ample space for vehicles and belongings. With off-street parking available, this residence can accommodate up to 6 bedrooms or provide abundant flexible living spaces. There are 2 full bathrooms and a large kitchen, perfect for gatherings. Enjoy the convenience of a basement, a covered front porch, and a nice utility/laundry area located on the main level. Recent updates include newer flooring in several areas, along with hardwood floors in others. The main floor offers 1 or 2 bedrooms, and the home features two stairways.

7. 2026-01-09
   status Pending

   Show marketing remark (781 chars)

   This versatile home, originally designed as a duplex, offers the potential for easy conversion back to its original layout. Situated on a corner lot, the property features a fenced yard and a generous 3+ car detached garage with attic storage, ensuring ample space for vehicles and belongings. With off-street parking available, this residence can accommodate up to 6 bedrooms or provide abundant flexible living spaces. There are 2 full bathrooms and a large kitchen, perfect for gatherings. Enjoy the convenience of a basement, a covered front porch, and a nice utility/laundry area located on the main level. Recent updates include newer flooring in several areas, along with hardwood floors in others. The main floor offers 1 or 2 bedrooms, and the home features two stairways.

8. 2026-01-09
   status Pending 781-char remark

   Show marketing remark (781 chars)

   This versatile home, originally designed as a duplex, offers the potential for easy conversion back to its original layout. Situated on a corner lot, the property features a fenced yard and a generous 3+ car detached garage with attic storage, ensuring ample space for vehicles and belongings. With off-street parking available, this residence can accommodate up to 6 bedrooms or provide abundant flexible living spaces. There are 2 full bathrooms and a large kitchen, perfect for gatherings. Enjoy the convenience of a basement, a covered front porch, and a nice utility/laundry area located on the main level. Recent updates include newer flooring in several areas, along with hardwood floors in others. The main floor offers 1 or 2 bedrooms, and the home features two stairways.

9. 2026-01-09
   status Pending 781-char remark

   Show marketing remark (781 chars)

   This versatile home, originally designed as a duplex, offers the potential for easy conversion back to its original layout. Situated on a corner lot, the property features a fenced yard and a generous 3+ car detached garage with attic storage, ensuring ample space for vehicles and belongings. With off-street parking available, this residence can accommodate up to 6 bedrooms or provide abundant flexible living spaces. There are 2 full bathrooms and a large kitchen, perfect for gatherings. Enjoy the convenience of a basement, a covered front porch, and a nice utility/laundry area located on the main level. Recent updates include newer flooring in several areas, along with hardwood floors in others. The main floor offers 1 or 2 bedrooms, and the home features two stairways.

10. 2025-11-25
    listed $119,900 Active 781-char remark

    Show marketing remark (781 chars)

    This versatile home, originally designed as a duplex, offers the potential for easy conversion back to its original layout. Situated on a corner lot, the property features a fenced yard and a generous 3+ car detached garage with attic storage, ensuring ample space for vehicles and belongings. With off-street parking available, this residence can accommodate up to 6 bedrooms or provide abundant flexible living spaces. There are 2 full bathrooms and a large kitchen, perfect for gatherings. Enjoy the convenience of a basement, a covered front porch, and a nice utility/laundry area located on the main level. Recent updates include newer flooring in several areas, along with hardwood floors in others. The main floor offers 1 or 2 bedrooms, and the home features two stairways.

11. 2025-11-21
    listed $119,900 Active 781-char remark

    Show marketing remark (781 chars)

    This versatile home, originally designed as a duplex, offers the potential for easy conversion back to its original layout. Situated on a corner lot, the property features a fenced yard and a generous 3+ car detached garage with attic storage, ensuring ample space for vehicles and belongings. With off-street parking available, this residence can accommodate up to 6 bedrooms or provide abundant flexible living spaces. There are 3 full bathrooms and a large kitchen, perfect for gatherings. Enjoy the convenience of a basement, a covered front porch, and a nice utility/laundry area located on the main level. Recent updates include newer flooring in several areas, along with hardwood floors in others. The main floor offers 1 or 2 bedrooms, and the home features two stairways.

12. 2025-11-21
    listed $119,900 Active

    Show marketing remark (781 chars)

    This versatile home, originally designed as a duplex, offers the potential for easy conversion back to its original layout. Situated on a corner lot, the property features a fenced yard and a generous 3+ car detached garage with attic storage, ensuring ample space for vehicles and belongings. With off-street parking available, this residence can accommodate up to 6 bedrooms or provide abundant flexible living spaces. There are 3 full bathrooms and a large kitchen, perfect for gatherings. Enjoy the convenience of a basement, a covered front porch, and a nice utility/laundry area located on the main level. Recent updates include newer flooring in several areas, along with hardwood floors in others. The main floor offers 1 or 2 bedrooms, and the home features two stairways.

13. 2011-05-26
    soldstatus $49,900
14. 2010-10-05
    listed $54,900

ⓘ 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: $773 · $64/mo
• Projected year-2 tax: $896 · $75/mo
• Expected delta: +$123/yr (+$10/mo · 15.9%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone X (unshaded) · 22% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥99°F today · 18 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% 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: $16,308
• − Mortgage interest: −$6,716
• − Property taxes: −$773
• − Insurance: −$600
• − Repairs & maintenance: −$1,305
• − Management: −$1,305
• − Depreciation: −$3,488
• Taxable income: $2,121
• Est. tax owed @ 24.0%: −$509
• After-tax cash flow: $3,456/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 Castle Community School Corporation
• NCES district ID: 1807440
• Math proficiency: 30% ▼ -13.00%
• Reading proficiency: 35% ▼ -9.00%
• Median HH income: $36,717
• Composite: 26.99/100
• National rank: #7067
• State rank: #229 of 301 in IN

Livability — New Castle

• Score: 75/100
• State rank: #64
• US rank: #4219

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: New Castle, IN
• County: Henry County · 29,337 people
• City population: 29,337
• Metro: New Castle, IN
• Population (ZIP): 29,337
• Household income: $60,258
• Rent vs Own: 27.6% rent · 72.4% own
• Severe rent burden: 545.0

Population outlook (Henry County) Hauer SSP2

• Today (2025): 48,028 people
• By 2030: 47,125 · -1.9%
• By 2040: 44,820 · -6.7%
• By 2050: 42,207 · -12.1%
• By 2075: 35,814 · -25.4%
• By 2100: 26,779 · -44.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (90%)
• Race & ethnicity: White 90% Two or more races 3% Black 3% Hispanic / Latino 3%
• Common ancestry: Italian 2% Slovak 1% Lithuanian 1%
• Foreign-born: 2% · Canada
• Languages at home: 97% English-only · Spanish 2%

Political lean MEDSL · Henry

• 2024 margin: Solid R (+47.7) · D 25.3% · R 73.0% · Other 1.7%
• 2008→2024 swing: -43.8pp toward R · 2008: -3.9pp · 2024: -47.7pp
• All cycles: 2024: R+47.7 2020: R+45.2 2016: R+43.7 2012: R+17.0 2008: R+3.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -43.70%
• Current HPI: 228.8885
• Rent YoY: ▲ 4.59%
• Metro: New Castle, 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

+118.4% since first listed

14 events — show timeline

• 2026-05-13 Pending — IRMLS
• 2026-05-11 Pending — IRMLS
• 2026-05-11 Pending — MIBOR as Distributed by MLS Grid
• 2026-04-13 Relisted — IRMLS
• 2026-04-13 Relisted — IRMLS
• 2026-04-13 Relisted — MIBOR as Distributed by MLS Grid
• 2026-01-09 Pending — MIBOR as Distributed by MLS Grid
• 2026-01-09 Pending — IRMLS
• 2026-01-09 Pending — IRMLS
• 2025-11-25 Listed $119,900 IRMLS
• 2025-11-21 Listed $119,900 IRMLS
• 2025-11-21 Listed $119,900 MIBOR as Distributed by MLS Grid
• 2011-05-26 Sold (MLS) $49,900 MIBOR as Distributed by MLS Grid
• 2010-10-05 Listed $54,900 MIBOR as Distributed by MLS Grid

Property tax history

+4.9%/yr

Latest (2024): $773 · +5.6% YoY. Source: county tax records.