2219 Indiana Ave · Connersville, IN 47331

$49,900

4 bd · 2.0 ba · 2,623 sqft · SingleFamily public records

Built 1920 6,534 sqft lot

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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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Livability +3.2/5.0
• Schools +2.9/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +2.3/10.0

Listing remarks MLS

Step into timeless charm and spacious living in this beautiful 4-bedroom, 2 full bathroom home offering 2,623 square feet of living space. Rich natural woodwork throughout adds warmth and character, while the inviting covered front porch provides the perfect place to relax and unwind. Inside, you’ll find generously sized rooms, plenty of space for entertaining, and a functional layout designed for comfortable everyday living. The basement offers additional storage or potential living space, and the detached 2-car garage adds convenience and practicality. A wonderful blend of classic craftsmanship and spacious comfort—this home is ready for you to make it your own! Possible mold in basement

Key facts

• 6,534 sq ft lot
• 2 garage spots
• Built 1920

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $50k.

Deal economics

• At list price, monthly cash flow is $756 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $50k).
• Cap rate 24.5% vs local median 5.0% in Connersville — 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 65/100 on livability (#313 in IN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: health & safety C-, crime D+, amenities F.
• Fayette County School Corporation (town): math 29% / reading 40% proficiency, ranked #206 of 301 in IN (top 68%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Grandview Elementary School (math 27% / reading 37%, grade F, #652 of 994 statewide, top 68%, 539 students, 71% FRL).
• Market conditions: 173 active listings in the ZIP; 20 units permitted in Fayette County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $345 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• Fayette County population projected at -26% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $14k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• Only 0 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts since 4y 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.

Risks & watch-outs

• Watch-outs: property tax is 2.9% of price; built in 1920 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $49,900

Questions for the listing agent

1. Built in 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
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: 2.94% ✓
• Cap rate: 24.46%
• Cash-on-cash: 64.89%
• DSCR: 3.89
• GRM: 2.8

CMA / ARV

• ARV (on-the-fly): $149,511
• Comps found: 9

Show comp detail 9 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1910 Virginia Ave	0.40mi	3/1.0 (-1)	2,761 (+5%)	1mo	$150,000	$54	63
2828 Grand Ave	0.62mi	4/2.0	2,622 (-0%)	16mo	$219,900	$84	58
1616 N Eastern Ave	0.69mi	4/2.0	2,568 (-2%)	8mo	$189,900	$74	58
2335 Indiana Ave	0.16mi	3/2.0 (-1)	2,264 (-14%)	10mo	$195,000	$86	56
2506 Western Ave	0.41mi	5/3.0 (+1)	2,630 (+0%)	24mo	$148,000	$56	52
2921 Iowa Ave	0.71mi	3/1.0 (-1)	2,704 (+3%)	2mo	$155,000	$57	51
715 W 30th St	0.73mi	3/1.5 (-1)	2,392 (-9%)	11mo	$139,250	$58	35
1449 Virginia Ave	0.70mi	4/2.0	2,266 (-14%)	23mo	$98,500	$43	25
1620 Vermont Ave	0.57mi	3/1.0 (-1)	2,241 (-15%)	20mo	$80,000	$36	23

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: 64.1%
• Equity multiple: 3.87×
• Total profit: $40,092
• Equity at exit: $7,440

10-year hold

• IRR: 68.5%
• Equity multiple: 7.95×
• Total profit: $97,110
• Equity at exit: $4,314

Cash invested: $13,972 (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 47331

• Home prices YoY: -2.1%
• Active inventory: 173
• Price-to-rent: 2.8×

Monthly cashflow live

• Estimated rent: $1,468 medium
• Mortgage (P&I): −$262
• Tax from tax record: −$122 /mo · $1,459/yr
• Insurance: −$21
• HOA: −$0
• Vacancy / Maint / Mgmt: −$308
• Net cashflow: $756

Break-even live

Break-even rent $511

Max offer price $49,900

Occupancy floor 44%

Sensitivity live

Price	-10% $784	-5% $770	+0% $756	+5% $741	+10% $727
Rent	-10% $640	-5% $698	+0% $756	+5% $813	+10% $871
Rate	-1.0pp $781	-0.5pp $768	base $756	+0.5pp $743	+1.0pp $729

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: $12,475
• Closing costs: $1,497
• Reserves months: —
• Total cash needed: —

Listing history 9 events

1. 2026-05-15
   historical
2. 2026-05-14
   historical 711-char remark

   Show marketing remark (711 chars)

   Step into timeless charm and spacious living in this beautiful 4-bedroom, 2 full bathroom home offering 2,623 square feet of living space. Rich natural woodwork throughout adds warmth and character, while the inviting covered front porch provides the perfect place to relax and unwind. Inside, you’ll find generously sized rooms, plenty of space for entertaining, and a functional layout designed for comfortable everyday living. The basement offers additional storage or potential living space, and the detached 2-car garage adds convenience and practicality. A wonderful blend of classic craftsmanship and spacious comfort—this home is ready for you to make it your own! Possible mold in basement

3. 2026-05-13
   listed $49,900

   Show marketing remark (711 chars)

   Step into timeless charm and spacious living in this beautiful 4-bedroom, 2 full bathroom home offering 2,623 square feet of living space. Rich natural woodwork throughout adds warmth and character, while the inviting covered front porch provides the perfect place to relax and unwind. Inside, you’ll find generously sized rooms, plenty of space for entertaining, and a functional layout designed for comfortable everyday living. The basement offers additional storage or potential living space, and the detached 2-car garage adds convenience and practicality. A wonderful blend of classic craftsmanship and spacious comfort—this home is ready for you to make it your own! Possible mold in basement

4. 2026-05-13
   listed $49,900 711-char remark

   Show marketing remark (711 chars)

   Step into timeless charm and spacious living in this beautiful 4-bedroom, 2 full bathroom home offering 2,623 square feet of living space. Rich natural woodwork throughout adds warmth and character, while the inviting covered front porch provides the perfect place to relax and unwind. Inside, you’ll find generously sized rooms, plenty of space for entertaining, and a functional layout designed for comfortable everyday living. The basement offers additional storage or potential living space, and the detached 2-car garage adds convenience and practicality. A wonderful blend of classic craftsmanship and spacious comfort—this home is ready for you to make it your own! Possible mold in basement

5. 2022-07-13
   soldstatus $195,000 531-char remark

   Show marketing remark (531 chars)

   Outstanding 4 bedroom, 2 bath traditional style home. Just move in and enjoy the comfortable feel. Must see to appreciate the wood décor, the updated kitchen including appliances, new carpet on stairway and in all bedrooms are just a few features. The 3-car garage provides plenty of car space and storage. The basement is very well finished and offers a gas fireplace that speaks cozy. Don’t miss this one – too many classic features to mention. Come see for yourself. Square footage includes finished basement.

6. 2022-07-13
   soldstatus $195,000

   Show marketing remark (531 chars)

   Outstanding 4 bedroom, 2 bath traditional style home. Just move in and enjoy the comfortable feel. Must see to appreciate the wood décor, the updated kitchen including appliances, new carpet on stairway and in all bedrooms are just a few features. The 3-car garage provides plenty of car space and storage. The basement is very well finished and offers a gas fireplace that speaks cozy. Don’t miss this one – too many classic features to mention. Come see for yourself. Square footage includes finished basement.

7. 2022-07-13
   soldstatus $195,000

   Show marketing remark (531 chars)

   Outstanding 4 bedroom, 2 bath traditional style home. Just move in and enjoy the comfortable feel. Must see to appreciate the wood décor, the updated kitchen including appliances, new carpet on stairway and in all bedrooms are just a few features. The 3-car garage provides plenty of car space and storage. The basement is very well finished and offers a gas fireplace that speaks cozy. Don’t miss this one – too many classic features to mention. Come see for yourself. Square footage includes finished basement.

8. 2022-05-13
   listed $197,000 531-char remark

   Show marketing remark (531 chars)

   Outstanding 4 bedroom, 2 bath traditional style home. Just move in and enjoy the comfortable feel. Must see to appreciate the wood décor, the updated kitchen including appliances, new carpet on stairway and in all bedrooms are just a few features. The 3-car garage provides plenty of car space and storage. The basement is very well finished and offers a gas fireplace that speaks cozy. Don’t miss this one – too many classic features to mention. Come see for yourself. Square footage includes finished basement.

9. 2022-05-13
   listed $197,000

   Show marketing remark (531 chars)

   Outstanding 4 bedroom, 2 bath traditional style home. Just move in and enjoy the comfortable feel. Must see to appreciate the wood décor, the updated kitchen including appliances, new carpet on stairway and in all bedrooms are just a few features. The 3-car garage provides plenty of car space and storage. The basement is very well finished and offers a gas fireplace that speaks cozy. Don’t miss this one – too many classic features to mention. Come see for yourself. Square footage includes finished basement.

ⓘ 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: $1,459 · $122/mo
• Projected year-2 tax: $1,459 · $122/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 1/10 Low
• 🌡 Heat 4/10 Moderate 7 d/yr ≥100°F today · 20 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% 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: $17,614
• − Mortgage interest: −$2,795
• − Property taxes: −$1,459
• − Insurance: −$250
• − Repairs & maintenance: −$1,409
• − Management: −$1,409
• − Depreciation: −$1,452
• Taxable income: $8,840
• Est. tax owed @ 24.0%: −$2,122
• After-tax cash flow: $6,945/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: Fayette County School Corporation
• NCES district ID: 1803510
• Math proficiency: 29% ▼ -11.00%
• Reading proficiency: 40% ▼ -8.00%
• Median HH income: $38,669
• Composite: 28.81/100
• National rank: #6659
• State rank: #206 of 301 in IN

Livability — Connersville

• Score: 65/100
• State rank: #313
• US rank: #12417

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Connersville, IN
• Population (ZIP): 22,769

Population outlook (Fayette County) Hauer SSP2

• Today (2025): 21,758 people
• By 2030: 20,673 · -5.0%
• By 2040: 18,335 · -15.7%
• By 2050: 16,056 · -26.2%
• By 2075: 11,030 · -49.3%
• By 2100: 6,800 · -68.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (94%)
• Race & ethnicity: White 94% Two or more races 4% Hispanic / Latino 1% Black 1%
• Common ancestry: Italian 2% Slovak 1% Lithuanian 1%
• Foreign-born: 1% · Canada
• Languages at home: 98% English-only · Spanish 1%

Political lean MEDSL · Fayette

• 2024 margin: Solid R (+56.3) · D 21.2% · R 77.5% · Other 1.3%
• 2008→2024 swing: -50.8pp toward R · 2008: -5.6pp · 2024: -56.3pp
• All cycles: 2024: R+56.3 2020: R+54.4 2016: R+48.1 2012: R+16.9 2008: R+5.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -5.33%
• Current HPI: 252.3898
• 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

-74.7% since first listed

9 events — show timeline

• 2026-05-15 Delisted — ECIAOR
• 2026-05-14 Delisted — RRELMS
• 2026-05-13 Listed $49,900 RRELMS
• 2026-05-13 Listed $49,900 ECIAOR
• 2022-07-13 Sold (Public Records) $195,000 Public Records
• 2022-07-13 Sold (MLS) $195,000 RRELMS
• 2022-07-13 Sold (MLS) $195,000 ECIAOR
• 2022-05-13 Listed $197,000 RRELMS
• 2022-05-13 Listed $197,000 ECIAOR

Property tax history

+5.7%/yr

Latest (2024): $1,459 · +21.3% YoY. Source: county tax records.