730 S Stormont St · Princeton, IN 47670

$69,000

2 bd · 1.0 ba · 828 sqft · SingleFamily public records · 5 Days on market

Built 1900 5,663 sqft lot Est $89k · 23% 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 +30.0/30.0
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +3.6/5.0
• Schools +2.7/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

This charming corner-lot home offers great value with several big-ticket updates already completed in the last two years, including a metal roof, furnace, and central air system. Inside, you’ll find newer flooring and a refreshed bathroom. The large fenced backyard provides plenty of space for outdoor enjoyment. A great opportunity for both investors and owner-occupants.

Key facts

• Metal roof
• Newer flooring
• Corner-lot

Tags

• CORNER-LOT
• METAL ROOF
• FURNACE
• CENTRAL AIR SYSTEM
• NEWER FLOORING
• REFRESHED BATHROOM

Property features AI

Exterior

• Parking: Off-street parking
• Utilities: Public water; Public sewer
• Home design: Single-family residence; Site-built, one story
• Construction: Vinyl siding; Metal roof; Crawl space foundation; Built as site-built home
• Exterior features: Partial chain-link fencing; Corner, level lot; Asphalt road access (public maintained)

Interior

• Kitchen: Electric range; Refrigerator
• Flooring: Carpet; Vinyl
• Bathrooms: One full bathroom (main level)
• Heating & cooling: Natural gas heating; Central air conditioning; Ceiling fan cooling
• Interior features: Ceiling fans; One fireplace
• Laundry & utility: Washer and dryer (main level); Electric water heater

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $69k.

Deal economics

• At list price, monthly cash flow is $368 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $69k).
• Cap rate 12.7% vs local median 5.3% 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; 3 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; 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 $477 of loan paydown is wiped out by about $2k 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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $19k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• Only 5 days on market — expect competitive offers; lowballing is unlikely to land.
• 5 sale attempts since 3y 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 $25k; list at $69k implies a 176% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk; extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $69,000

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 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?
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: 1.57% ✓
• Cap rate: 12.69%
• Cash-on-cash: 22.83%
• DSCR: 2.02
• GRM: 5.3

CMA / ARV

• ARV (on-the-fly): $89,424
• Comps found: 9

Show comp detail 9 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
730 S Stormont St	0.00mi	2/1.0	828 (0%)	1mo	$53,500	$65	99
722 S Race St	0.07mi	1/1.0 (-1)	832 (+0%)	16mo	$32,000	$38	77
208 W Makemson Ave	0.56mi	2/1.0	836 (+1%)	12mo	$90,000	$108	62
915 S Hall St	0.60mi	2/1.0	875 (+6%)	1mo	$175,000	$200	62
121 W Mulberry St	0.39mi	2/1.0	928 (+12%)	3mo	$154,500	$166	59
1025 S Adams St	0.33mi	3/1.0 (+1)	820 (-1%)	24mo	$137,000	$167	58
204 E Ohio St	0.40mi	2/1.0	768 (-7%)	18mo	$55,000	$72	54
606 S Stormont St	0.11mi	1/1.0 (-1)	725 (-12%)	20mo	$74,500	$103	52
634 E State St	0.57mi	2/1.0	952 (+15%)	19mo	$147,250	$155	32

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: 15.8%
• Equity multiple: 1.63×
• Total profit: $12,254
• Equity at exit: $10,288

10-year hold

• IRR: 24.4%
• Equity multiple: 3.12×
• Total profit: $40,911
• Equity at exit: $5,966

Cash invested: $19,320 (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: 5.3×

Monthly cashflow live

• Estimated rent: $1,084 medium
• Mortgage (P&I): −$362
• Tax from tax record: −$98 /mo · $1,174/yr
• Insurance: −$29
• HOA: −$0
• Vacancy / Maint / Mgmt: −$228
• Net cashflow: $368

Break-even live

Break-even rent $618

Max offer price $69,000

Occupancy floor 61%

Sensitivity live

Price	-10% $407	-5% $387	+0% $368	+5% $348	+10% $329
Rent	-10% $282	-5% $325	+0% $368	+5% $410	+10% $453
Rate	-1.0pp $402	-0.5pp $385	base $368	+0.5pp $350	+1.0pp $332

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: $17,250
• Closing costs: $2,070
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
318 S Gibson St Unit A Princeton, IN	1.0	1.0	750	$795	$1.06	44d	1	0.37mi
102 N Seminary St Princeton, IN	2.0	1.0	884	$995	$1.13	44d	1	0.53mi
220 W Garfield Ave Princeton, IN	2.0	1.0	1000	$1,700	$1.70	44d	2	0.60mi

Listing history 16 events

1. 2026-04-15
   status Pending
2. 2026-04-09
   listed $69,000 Active
3. 2025-07-21
   status Active
4. 2025-07-09
   status Pending
5. 2025-06-26
   listed $75,000 Active
6. 2024-06-17
   price $85,000
7. 2024-06-01
   price $105,000
8. 2024-04-30
   listed $125,000 Active
9. 2023-08-28
   soldstatus $25,000 Closed
10. 2023-08-28
    soldstatus $25,000
11. 2023-08-12
    status Pending
12. 2023-08-05
    historical
13. 2023-08-02
    status Pending
14. 2023-07-25
    listed $35,000 Active
15. 2021-03-06
    soldstatus $35,000
16. 2014-12-12
    soldstatus $35,000

ⓘ 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: $1,174 · $98/mo
• Projected year-2 tax: $1,174 · $98/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 6/10 Major FEMA zone X (unshaded) · 70% 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 3% 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: $13,003
• − Mortgage interest: −$3,865
• − Property taxes: −$1,174
• − Insurance: −$345
• − Repairs & maintenance: −$1,040
• − Management: −$1,040
• − Depreciation: −$2,007
• Taxable income: $3,531
• Est. tax owed @ 24.0%: −$847
• After-tax cash flow: $3,564/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

+97.1% since first listed

16 events — show timeline

• 2026-04-15 Pending — IRMLS
• 2026-04-09 Listed $69,000 IRMLS
• 2025-07-21 Relisted — IRMLS
• 2025-07-09 Pending — IRMLS
• 2025-06-26 Listed $75,000 IRMLS
• 2024-06-17 Price Changed $85,000 IRMLS
• 2024-06-01 Price Changed $105,000 IRMLS
• 2024-04-30 Listed $125,000 IRMLS
• 2023-08-28 Sold (Public Records) $25,000 Public Records
• 2023-08-28 Sold (MLS) $25,000 IRMLS
• 2023-08-12 Pending — IRMLS
• 2023-08-05 Delisted — IRMLS
• 2023-08-02 Pending — IRMLS
• 2023-07-25 Listed $35,000 IRMLS
• 2021-03-06 Sold (Public Records) $35,000 Public Records
• 2014-12-12 Sold (Public Records) $35,000 Public Records

Property tax history

-1.6%/yr

Latest (2024): $1,174 · +140.0% YoY. Source: county tax records.