110 E Washington St · New Richmond, IN 47967

$139,000

4 bd · 1.0 ba · 1,584 sqft · SingleFamily public records · 8 Days on market

Built 1900 5,184 sqft lot Est $190k · 27% 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 +23.3/30.0
• ARV discount +15.0/15.0
• DSCR +7.5/10.0
• Appreciation +7.5/10.0
• 1% rule +4.8/10.0
• Schools +4.3/10.0
• Livability +2.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Back on the market with inspection repairs made! Why rent when you can buy this adorable 2-3 bedroom home located in downtown New Richmond! Home has a large living room with beautiful hardwood floors and a large eat in kitchen. Main level bedroom and office/playroom. Home has a newer heat pump and a dual furnace. Part of the back yard is fenced in, leaving plenty of room for a garage addition! Move-in ready, so don't hesitate to come see this one!

Key facts

• Covered front porch
• Updated appliances
• Backyard

Tags

• COVERED FRONT PORCH
• UPDATED APPLIANCES
• BACKYARD

Property features AI

Exterior

• Utilities: Community sewer; Private water
• Home design: Single family residence; One-and-one-half story
• Construction: Vinyl siding; Block foundation
• Exterior features: Lot under 1/4 acre

Interior

• Kitchen: Dishwasher; Microwave; Refrigerator; Eat-in kitchen
• Bedrooms: Three bedrooms total (one on the main level, two on the upper level)
• Flooring: Hardwood floors
• Bathrooms: One full bathroom (located on the main level)
• Heating & cooling: Forced air heating (propane); Central air conditioning
• Interior features: Hardwood floors; Eat-in kitchen; Woodwork stained/painted; Finished basement area
• Laundry & utility: Main level laundry; Dryer; Gas water heater; Water softener (owned)

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $139k.

Deal economics

• At list price, monthly cash flow is $255 ($3k/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 $136k (2.3% below list).
• Recommended offer: $136k (2.3% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 58/100 on livability (#582 in IN) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A, employment B+; Watch: crime D+, amenities F, commute F.
• North Montgomery Community School Corporation (rural): math 47% / reading 53% proficiency, ranked #50 of 301 in IN (top 17%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Pleasant Hill Elementary School (math 57% / reading 57%, grade C+, #172 of 994 statewide, top 18%, 294 students, 33% FRL); North Montgomery High School (math 32% / reading 62%, grade D-, #143 of 369 statewide, top 44%, 516 students, 34% FRL) — zoned schools at 33% FRL track the district average.
• Market conditions: 7 active listings in the ZIP; 52 units permitted in Montgomery County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $8k of equity ($961 loan paydown + $7k appreciation (5.0% local appreciation)).
• Montgomery County population projected to shrink 9% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (5.0% appreciation + 3.0% rent growth), your $39k cash investment doubles in ~4 years — after that, you're playing with house money.
• By year 5, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 8 days on market — expect competitive offers; lowballing is unlikely to land.
• 6 sale attempts since 15y 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 $52k; list at $139k implies a 167% 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 $135,791 (2.3% below list)

Questions for the listing agent

1. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
4. 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?
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: 0.98% ✗
• Cap rate: 8.50%
• Cash-on-cash: 7.87%
• DSCR: 1.35
• GRM: 8.5

CMA / ARV

• ARV (on-the-fly): $190,080
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
513 Wabash St	0.38mi	3/1.0 (-1)	1,499 (-5%)	6mo	$180,000	$120	63
514 E Washington St	0.47mi	3/1.0 (-1)	1,561 (-2%)	21mo	$128,000	$82	54

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

4.95% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 19.5%
• Equity multiple: 2.23×
• Total profit: $47,856
• Equity at exit: $78,381

10-year hold

• IRR: 19.4%
• Equity multiple: 4.36×
• Total profit: $130,692
• Equity at exit: $134,956

Cash invested: $38,920 (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 47967

• Home prices YoY: 2.1%
• Active inventory: 7
• Price-to-rent: 8.5×

Monthly cashflow live

• Estimated rent: $1,358 medium
• Mortgage (P&I): −$729
• Tax from tax record: −$31 /mo · $369/yr
• Insurance: −$58
• HOA: −$0
• Vacancy / Maint / Mgmt: −$285
• Net cashflow: $255

Break-even live

Break-even rent $1,035

Max offer price $139,000

Occupancy floor 76%

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: $34,750
• Closing costs: $4,170
• Reserves months: —
• Total cash needed: —

Listing history 8 events

1. 2026-06-19
   days on market $139,000 Active 8 DOM
2. 2026-06-18
   days on market $139,000 Active 7 DOM
3. 2026-06-17
   days on market $139,000 Active 6 DOM
4. 2026-06-16
   days on market $139,000 Active 5 DOM
5. 2026-06-15
   days on market $139,000 Active 4 DOM
6. 2026-06-14
   days on market $139,000 Active 2 DOM
7. 2026-06-13
   remarks 607-char remark
8. 2026-06-13
   listed $139,000 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: $369 · $31/mo
• Projected year-2 tax: $775 · $65/mo
• Expected delta: +$406/yr (+$34/mo · 110.1%)

ⓘ 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 ≥101°F today · 18 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 0% 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: $16,295
• − Mortgage interest: −$7,786
• − Property taxes: −$369
• − Insurance: −$695
• − Repairs & maintenance: −$1,304
• − Management: −$1,304
• − Depreciation: −$4,044
• Taxable income: $794
• Est. tax owed @ 24.0%: −$191
• After-tax cash flow: $2,871/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 Montgomery Community School Corporation
• NCES district ID: 1807900
• Math proficiency: 47% ▼ -1.00%
• Reading proficiency: 53% ▲ 3.00%
• Median HH income: $53,844
• Composite: 43.14/100
• National rank: #3076
• State rank: #50 of 301 in IN

Livability — New Richmond

• Score: 58/100
• State rank: #582
• US rank: #20903

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: New Richmond, IN
• Population (ZIP): 853

Population outlook (Montgomery County) Hauer SSP2

• Today (2025): 37,893 people
• By 2030: 37,539 · -0.9%
• By 2040: 36,536 · -3.6%
• By 2050: 34,454 · -9.1%
• By 2075: 28,852 · -23.9%
• By 2100: 21,145 · -44.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (95%)
• Race & ethnicity: White 95% Hispanic / Latino 4% Asian 1%
• Common ancestry: Italian 3% Slovak 3% Romanian 2%
• Foreign-born: 2% · Canada
• Languages at home: 95% English-only · Spanish 4% Tagalog/Filipino 1%

Political lean MEDSL · Montgomery

• 2024 margin: Solid R (+48.2) · D 24.9% · R 73.2% · Other 1.9%
• 2008→2024 swing: -28.3pp toward R · 2008: -19.9pp · 2024: -48.2pp
• All cycles: 2024: R+48.2 2020: R+49.1 2016: R+50.9 2012: R+38.5 2008: R+19.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 4.95%
• Current HPI: 237.0758
• 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

+507.0% since first listed

14 events — show timeline

• 2026-06-11 Listed $139,000 MIBOR as Distributed by MLS Grid
• 2018-08-11 Sold (MLS) $52,000 MIBOR as Distributed by MLS Grid
• 2018-07-06 Pending — MIBOR as Distributed by MLS Grid
• 2018-07-01 Relisted — MIBOR as Distributed by MLS Grid
• 2018-06-30 Listing Removed — MIBOR as Distributed by MLS Grid
• 2018-05-29 Relisted — MIBOR as Distributed by MLS Grid
• 2018-04-08 Pending — MIBOR as Distributed by MLS Grid
• 2018-02-26 Listed $57,900 MIBOR as Distributed by MLS Grid
• 2016-09-30 Sold (MLS) $44,000 MIBOR as Distributed by MLS Grid
• 2016-07-22 Pending — MIBOR as Distributed by MLS Grid
• 2016-07-02 Listed $47,900 MIBOR as Distributed by MLS Grid
• 2011-04-12 Listing Removed — MIBOR as Distributed by MLS Grid
• 2011-04-12 Sold (MLS) $19,500 MIBOR as Distributed by MLS Grid
• 2011-02-07 Listed $22,900 MIBOR as Distributed by MLS Grid

Property tax history

-6.4%/yr

Latest (2025): $369 · +0.5% YoY. Source: county tax records.