136 N Kirkham Ave · Corydon, IN 47112

$189,900

2 bd · 1.0 ba · 1,848 sqft · SingleFamily public records · 6 Days on market

Built 1979 0.26 ac lot Est $259k · 27% 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 +11.9/30.0
• Schools +3.9/10.0
• DSCR +3.5/10.0
• Livability +3.5/5.0
• 1% rule +3.2/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Sweetest home!! Absolutely ready to move in!! New flooring, windows, counter tops. full upstairs that could be 1 or two bedrooms. Roof only 10 years old. Vinyl siding covered front and back porch. Full Cellar with covered outside entrance. Natural gas HVAC has been serviced and cleaned. Corner double lot 2 minutes from downtown Corydon. Sq ft & rm sz approx

Key facts

• Fenced backyard
• 0.26 acre lot
• Built 1979

Tags

• FENCED BACKYARD
• ESTABLISHED GARDEN AREA
• SPACIOUS EAT-IN KITCHEN
• HISTORIC DOWNTOWN CORYDON

Property features AI

Exterior

• Utilities: Public sewer; Connected public water
• Home design: Resale single-family property; Cellar/unfinished basement
• Construction: Metal roof; Vinyl siding; Cellar foundation; Built with typical residential construction
• Exterior features: Fenced yard; Landscaping; Porch; Covered porch; Shed(s)

Interior

• Kitchen: Oven; Range
• Bedrooms: Upstairs bedroom (second level); Bedroom on first level
• Flooring: Wood flooring (upstairs bedroom); Engineered hardwood on first level rooms and kitchen/family room
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: Eat-in kitchen; Main level primary bedroom; Utility room; Unfinished basement (cellar)
• Laundry & utility: Laundry on main level

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $190k.

Deal economics

• At list price, monthly cash flow is $-49 ($-589/yr) — negative.
• To cash-flow at today's rent, offer at most $181k (4.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $156k (17.9% below list).
• Recommended offer: $156k (17.9% below list) — sets the bar for 1% rule.
• Cap rate 6.0% vs local median 3.5% in Corydon — 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 70/100 on livability (#163 in IN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A; Watch: amenities D, commute F, employment F.
• South Harrison Community Schools (town): math 42% / reading 50% proficiency, ranked #89 of 301 in IN (top 30%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 77 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 158 units permitted in Harrison County in 2024 (0 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.
• Harrison County population projected to shrink 6% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.

Negotiation context

• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 6y 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 $112k; list at $190k implies a 69% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• 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 $155,855 (17.9% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. Built in 1979 — 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. 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?
5. 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.
6. 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.
7. 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: 0.82% ✗
• Cap rate: 5.98%
• Cash-on-cash: -1.11%
• DSCR: 0.95
• GRM: 10.2

CMA / ARV

• ARV (on-the-fly): $258,720
• Comps found: 6

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
805 E Walnut St	0.19mi	3/2.0 (+1)	1,666 (-10%)	10mo	$169,000	$101	58
903 E Walnut St	0.13mi	3/1.5 (+1)	1,590 (-14%)	12mo	$240,700	$151	54
600 Farquar Ave	0.70mi	3/2.0 (+1)	1,898 (+3%)	1mo	$265,000	$140	53
501 E Chestnut St	0.41mi	3/3.0 (+1)	2,049 (+11%)	6mo	$284,000	$139	45
501 N Mulberry St	0.65mi	2/2.0	1,918 (+4%)	22mo	$194,213	$101	41
202 Elliott Ave	0.73mi	3/1.5 (+1)	1,608 (-13%)	2mo	$260,000	$162	35

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: -18.1%
• Equity multiple: 0.36×
• Total profit: $-33,894
• Equity at exit: $28,315

10-year hold

• IRR: -10.4%
• Equity multiple: 0.37×
• Total profit: $-33,524
• Equity at exit: $16,419

Cash invested: $53,172 (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 47112

• Home prices YoY: -30.1%
• Active inventory: 77
• Price-to-rent: 10.2×

Monthly cashflow live

• Estimated rent: $1,559 medium
• Mortgage (P&I): −$996
• Tax from tax record: −$205 /mo · $2,464/yr
• Insurance: −$79
• HOA: −$0
• Vacancy / Maint / Mgmt: −$327
• Net cashflow: $-49

Break-even live

Break-even rent $1,621

Max offer price $181,229

Occupancy floor 98%

Sensitivity live

Price	-10% $58	-5% $5	+0% $-49	+5% $-103	+10% $-157
Rent	-10% $-172	-5% $-111	+0% $-49	+5% $12	+10% $74
Rate	-1.0pp $47	-0.5pp $-1	base $-49	+0.5pp $-98	+1.0pp $-148

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: $47,475
• Closing costs: $5,697
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
425 E Walnut St Corydon, IN	3.0	2.0	1327	$1,800	$1.36	17d	1	0.45mi
625 Chapman DR Corydon, IN	2.0–3.0	1.0–1.5	1132	$1,250	$1.10	24d	4	0.49mi

Listing history 6 events

1. 2026-06-18
   days on market $189,900 Active 6 DOM
2. 2026-06-17
   days on market $189,900 Active 5 DOM
3. 2026-06-16
   days on market $189,900 Active 4 DOM
4. 2026-06-15
   days on market $189,900 Active 3 DOM
5. 2026-06-13
   remarks 692-char remark
6. 2026-06-13
   listed $189,900 Active 1 DOM

ⓘ 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: $2,464 · $205/mo
• Projected year-2 tax: $2,464 · $205/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 ≥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 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $18,703
• − Mortgage interest: −$10,637
• − Property taxes: −$2,464
• − Insurance: −$950
• − Repairs & maintenance: −$1,496
• − Management: −$1,496
• − Depreciation: −$5,524
• Taxable loss: −$3,865
• Est. tax savings @ 24.0%: +$928
• After-tax cash flow: $339/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: South Harrison Community Schools
• NCES district ID: 1810360
• Math proficiency: 42% ▼ -12.00%
• Reading proficiency: 50% ▼ -3.00%
• Median HH income: $50,528
• Composite: 39.49/100
• National rank: #3950
• State rank: #89 of 301 in IN

Livability — Corydon

• Score: 70/100
• State rank: #163
• US rank: #7834

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Corydon, IN
• Population (ZIP): 17,123

Population outlook (Harrison County) Hauer SSP2

• Today (2025): 40,288 people
• By 2030: 40,265 · -0.1%
• By 2040: 39,538 · -1.9%
• By 2050: 37,781 · -6.2%
• By 2075: 33,200 · -17.6%
• By 2100: 26,668 · -33.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (93%)
• Race & ethnicity: White 93% Hispanic / Latino 4% Two or more races 2% Black 1% Native American 1%
• Common ancestry: Lithuanian 2% Slovak 2% Italian 2%
• Foreign-born: 2% · Canada
• Languages at home: 97% English-only · Spanish 3%

Political lean MEDSL · Harrison

• 2024 margin: Solid R (+47.0) · D 25.6% · R 72.5% · Other 1.8%
• 2008→2024 swing: -28.9pp toward R · 2008: -18.0pp · 2024: -47.0pp
• All cycles: 2024: R+47.0 2020: R+45.6 2016: R+44.4 2012: R+22.8 2008: R+18.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -90.43%
• Current HPI: 210.4158
• 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

+65.1% since first listed

3 events — show timeline

• 2026-06-12 Listed $189,900 SIRA
• 2020-10-23 Sold (MLS) $112,500 SIRA
• 2020-09-13 Listed $115,000 SIRA

Property tax history

+6.4%/yr

Latest (2024): $2,464 · -1.3% YoY. Source: county tax records.