1224 S Prince St · Princeton, IN 47670

$129,555

2 bd · 1.0 ba · 944 sqft · SingleFamily public records · 8 Days on market

Built 1927 6,970 sqft lot $137/sqft · 37% above area Est $94k · 37% over

---

Why this score? — see what drove the C- 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 +26.5/30.0
• DSCR +9.0/10.0
• 1% rule +6.0/10.0
• Livability +3.6/5.0
• Schools +2.7/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks

?? NEW LISTING & acirc; & euro; & ldquo; PRINCETON, INDIANA ?? 2 Bed | 1 Bath | Large Fenced Yard | Quiet Street If you & acirc; & euro; & trade; ve been looking for an affordable home with major updates already done & acirc; & euro; & brvbar; this is it. Welcome to this well-maintained 2 bedroom, 1 bathroom home tucked away on a quiet dead-end street in Princeton. With alley access and extra parking, this property offers both convenience and privacy & acirc; & euro; & rdquo; something that & acirc; & euro; & trade; s hard to find at this price point. ? Big-ticket items? Already handled: ?? New Roof (2025) ?? HVAC System (2019) ?

Key facts

• Laundry rm wall
• Roof
• Living room

Tags

• LIVING ROOM
• DINING ROOM
• LAUNDRY RM WALL
• BACK PORCH
• ROOF
• ELECTRIC FURNACE

Property features AI

Exterior

• Parking: Gravel parking
• Security: Smoke detector(s)
• Utilities: Public water; Public sewer; Cable available
• Home design: Single-family residence (site-built); One story; Above-grade finished living area
• Construction: Vinyl siding; Crawl space foundation; Built as site-built home
• Exterior features: Covered porch; Patio; Shed(s); Level, landscaped lot; Paved, public maintained road

Interior

• Kitchen: Refrigerator; Electric range
• Bathrooms: 1 full bathroom (main level)
• Heating & cooling: Natural gas heating; Central air; Window unit(s); Ceiling fans for cooling
• Interior features: Ceiling fan(s); Living room fireplace
• Laundry & utility: Washer hookup on main level; Electric dryer hookup; Gas water heater

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $130k.

Deal economics

• At list price, monthly cash flow is $343 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $130k).
• Cap rate 9.5% 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; 4 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 $895 of loan paydown is wiped out by about $4k 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 $36k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• Only 8 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 8y 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: built in 1927 — expect roof / HVAC / electrical / plumbing capex.
• 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 $129,555

Questions for the listing agent

1. Built in 1927 — 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: 1.10% ✓
• Cap rate: 9.47%
• Cash-on-cash: 11.33%
• DSCR: 1.50
• GRM: 7.6

CMA / ARV

• ARV (median comp): $94,436
• List price: $129,555
• Delta: 53.44%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
121 W Mulberry St	0.42mi	2/1.0	928 (-2%)	3mo	$154,500	$166	75
403 E Illinois St	0.31mi	3/1.5 (+1)	960 (+2%)	2mo	$167,900	$175	74
805 S Stormont St	0.41mi	2/2.0	968 (+2%)	0mo	$131,000	$135	72
915 S Hall St	0.34mi	2/1.0	875 (-7%)	1mo	$175,000	$200	71
613 S Prince St	0.45mi	2/1.0	1,000 (+6%)	5mo	$79,600	$80	65
208 W Makemson Ave	0.18mi	2/1.0	836 (-11%)	12mo	$90,000	$108	62
820 S Stormont St	0.41mi	2/1.0	1,045 (+11%)	2mo	$113,000	$108	62
916 S Stormont St	0.36mi	2/1.0	1,002 (+6%)	16mo	$129,900	$130	59
730 S Stormont St	0.44mi	2/1.0	828 (-12%)	1mo	$53,500	$65	58
1313 S Baldwin Ct	0.25mi	3/2.0 (+1)	1,081 (+14%)	2mo	$224,900	$208	54
1117 S Virgil Blvd	0.41mi	2/1.0	1,040 (+10%)	13mo	$169,000	$163	53
212 E 150 S	0.63mi	3/1.0 (+1)	1,080 (+14%)	6mo	$15,000	$14	36

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: 0.6%
• Equity multiple: 1.02×
• Total profit: $778
• Equity at exit: $19,317

10-year hold

• IRR: 10.2%
• Equity multiple: 1.79×
• Total profit: $28,579
• Equity at exit: $11,202

Cash invested: $36,275 (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: 7.6×

Monthly cashflow live

• Estimated rent: $1,424 medium
• Mortgage (P&I): −$679
• Tax from tax record: −$49 /mo · $584/yr
• Insurance: −$54
• HOA: −$0
• Vacancy / Maint / Mgmt: −$299
• Net cashflow: $343

Break-even live

Break-even rent $990

Max offer price $129,555

Occupancy floor 71%

Sensitivity live

Price	-10% $416	-5% $379	+0% $343	+5% $306	+10% $269
Rent	-10% $230	-5% $286	+0% $343	+5% $399	+10% $455
Rate	-1.0pp $408	-0.5pp $376	base $343	+0.5pp $309	+1.0pp $275

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: $32,389
• Closing costs: $3,887
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
220 W Garfield Ave Princeton, IN	2.0	1.0	1000	$1,700	$1.70	44d	2	0.19mi
318 S Gibson St Unit A Princeton, IN	1.0	1.0	750	$795	$1.06	44d	1	0.66mi
102 N Seminary St Princeton, IN	2.0	1.0	884	$995	$1.13	44d	1	0.87mi
629 S Second Ave Princeton, IN	1.0–3.0	1.0–2.0	1001	$1,188	$1.19	44d	29	1.32mi

Listing history 17 events

1. 2026-06-21
   days on market $129,555 Active 8 DOM
2. 2026-06-18
   days on market $129,555 Active 6 DOM
3. 2026-06-17
   days on market $129,555 Active 5 DOM
4. 2026-06-16
   days on market $129,555 Active 4 DOM
5. 2026-06-15
   days on market $129,555 Active 3 DOM
6. 2026-06-13
   pricedays on marketlisting id $129,555 Active 1 DOM
7. 2026-06-12
   days on market $144,900 Active 31 DOM
8. 2026-06-09
   days on market $144,900 Active 28 DOM
9. 2026-06-08
   days on market $144,900 Active 27 DOM
10. 2026-06-07
    days on market $144,900 Active 26 DOM
11. 2026-06-04
    days on market $144,900 Active 22 DOM
12. 2026-06-02
    days on market $144,900 Active 21 DOM
13. 2026-06-01
    days on market $144,900 Active 20 DOM
14. 2026-05-31
    days on market $144,900 Active 19 DOM
15. 2026-05-31
    days on market $144,900 Active 18 DOM
16. 2026-05-12
    listed $144,900 Active 1675-char remark
17. 2018-05-25
    listed $64,900

ⓘ 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: $584 · $49/mo
• Projected year-2 tax: $843 · $70/mo
• Expected delta: +$259/yr (+$22/mo · 44.3%)

ⓘ 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 5/10 Major 7 d/yr ≥106°F today · 20 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: $17,083
• − Mortgage interest: −$7,257
• − Property taxes: −$584
• − Insurance: −$648
• − Repairs & maintenance: −$1,367
• − Management: −$1,367
• − Depreciation: −$3,769
• Taxable income: $2,092
• Est. tax owed @ 24.0%: −$502
• After-tax cash flow: $3,609/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

+99.6% since first listed

2 events — show timeline

• 2026-06-12 Listed $129,555 IRMLS
• 2018-05-25 Listed $64,900 IRMLS

Property tax history

-7.9%/yr

Latest (2024): $584 · +3.2% YoY. Source: county tax records.