531 E Monroe St · Chandler, IN 47610

$114,900

3 bd · 1.0 ba · 1,292 sqft · SingleFamily public records · 22 Days on market

Built 1950 10,200 sqft lot Est $196k · 41% 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
• DSCR +10.0/10.0
• 1% rule +8.3/10.0
• Schools +4.9/10.0
• Livability +3.3/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Live close to the park in this ranch style 3 bedroom, 1 bath home featuring a living room plus a spacious family room. The kitchen offers a functional layout that opens nicely into the main living areas. Outside, enjoy a covered deck, pond, fenced yard, and an oversized (30 x 24) 2.5-car garage with workshop space. The home appears to have some flooring-related issues and has been priced below market value to reflect the work needed! HOME SOLD "AS IS" Only qualifies for Cash, 203K or Conventional loans. Exclude the Kitchen Island.

Key facts

• Covered deck
• Workshop space
• Pond

Tags

• COVERED DECK
• FENCED YARD
• POND
• WORKSHOP SPACE

Property features AI

Finance

• Other: Property listed by ERA FIRST ADVANTAGE REALTY, INC

Exterior

• Parking: Detached garage; Approximately 2.5 garage spaces; Gravel and off-street parking
• Utilities: Public water; Public sewer
• Home design: Single-family residence (site-built); Single-story
• Construction: Aluminum and vinyl siding; Built as site-built (year built not provided)
• Exterior features: Deck; Level, landscaped lot; Paved public road access

Interior

• Kitchen: Microwave; Refrigerator; Electric range
• Bedrooms: Master on main level
• Flooring: Carpet; Laminate
• Bathrooms: 1 full bathroom (main level)
• Heating & cooling: Natural gas forced-air heating; Central air conditioning; One fireplace (no fireplace features specified)
• Interior features: Open floorplan; Master bedroom on the main level; Crawl space basement
• Laundry & utility: Laundry on the main level; Gas water heater

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $115k.

Deal economics

• At list price, monthly cash flow is $504 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $115k).
• Recommended offer: $113k (1.5% below list) — sets the bar for market timing.
• Cap rate 11.6% vs local median 3.9% in Chandler — 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 66/100 on livability (#282 in IN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A; Watch: employment D+, amenities F, commute F.
• Warrick County School Corporation (suburban): math 54% / reading 59% proficiency, ranked #24 of 301 in IN (top 8%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Chandler Elementary School (math 56% / reading 54%, grade C, #192 of 994 statewide, top 20%, 575 students, 57% FRL); Castle North Middle School (math 57% / reading 59%, grade B, #18 of 330 statewide, top 5%, 770 students, 22% FRL); Castle High School (math 56% / reading 80%, grade B, #22 of 369 statewide, top 6%, 1,961 students, 26% FRL).
• Market conditions: 63 active listings in the ZIP; 249 units permitted in Warrick County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $794 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Warrick County population projected at +9% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $32k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 22 days — a 2% lower offer ($113k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1950 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $113,176 (1.5% below list)

Questions for the listing agent

1. Built in 1950 — 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. 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.
4. 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.
5. 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: 1.33% ✓
• Cap rate: 11.55%
• Cash-on-cash: 18.79%
• DSCR: 1.84
• GRM: 6.3

CMA / ARV

• ARV (on-the-fly): $196,384
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
526 E Jackson Ave	0.19mi	3/1.0	1,344 (+4%)	11mo	$216,000	$161	75
817 N Illinois St	0.59mi	3/1.0	1,325 (+3%)	2mo	$191,000	$144	66
614 N Fifth St	0.24mi	3/2.0	1,215 (-6%)	10mo	$203,500	$167	66
422 N Old Plank Rd	0.49mi	3/1.0	1,424 (+10%)	1mo	$125,000	$88	59
302 Green Valley Dr	0.68mi	3/1.0	1,325 (+3%)	6mo	$187,000	$141	59
129 Carlisle Ct	0.40mi	3/1.0	1,353 (+5%)	20mo	$179,900	$133	57
216 S Kentucky Ave	0.72mi	3/1.5	1,302 (+1%)	8mo	$199,900	$154	56
525 Mccool Rd	0.26mi	3/1.0	1,410 (+9%)	20mo	$215,000	$152	56
220 S 4th St	0.21mi	4/2.0 (+1)	1,416 (+10%)	15mo	$125,500	$89	53
201 E Williams St	0.35mi	4/2.0 (+1)	1,414 (+9%)	12mo	$219,500	$155	49
116 E Washington St	0.41mi	2/2.0 (-1)	1,470 (+14%)	9mo	$100,000	$68	41
125 E Cherry St	0.47mi	3/2.5	1,123 (-13%)	20mo	$175,000	$156	33

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: 10.6%
• Equity multiple: 1.42×
• Total profit: $13,425
• Equity at exit: $17,132

10-year hold

• IRR: 19.6%
• Equity multiple: 2.64×
• Total profit: $52,858
• Equity at exit: $9,934

Cash invested: $32,172 (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 47610

• Home prices YoY: -23.6%
• Active inventory: 63
• Price-to-rent: 6.3×

Monthly cashflow live

• Estimated rent: $1,526 medium
• Mortgage (P&I): −$603
• Tax from tax record: −$52 /mo · $622/yr
• Insurance: −$48
• HOA: −$0
• Vacancy / Maint / Mgmt: −$321
• Net cashflow: $504

Break-even live

Break-even rent $889

Max offer price $114,900

Occupancy floor 62%

Sensitivity live

Price	-10% $569	-5% $536	+0% $504	+5% $471	+10% $439
Rent	-10% $383	-5% $443	+0% $504	+5% $564	+10% $624
Rate	-1.0pp $561	-0.5pp $533	base $504	+0.5pp $474	+1.0pp $444

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: $28,725
• Closing costs: $3,447
• Reserves months: —
• Total cash needed: —

Listing history 15 events

1. 2026-06-18
   days on market $114,900 Active 22 DOM
2. 2026-06-17
   days on market $114,900 Active 21 DOM
3. 2026-06-16
   days on market $114,900 Active 20 DOM
4. 2026-06-15
   days on market $114,900 Active 19 DOM
5. 2026-06-14
   days on market $114,900 Active 17 DOM
6. 2026-06-13
   days on market $114,900 Active 16 DOM
7. 2026-06-10
   days on market $114,900 Active 14 DOM
8. 2026-06-09
   days on market $114,900 Active 13 DOM
9. 2026-06-08
   days on market $114,900 Active 12 DOM
10. 2026-06-07
    days on market $114,900 Active 11 DOM
11. 2026-06-02
    days on market $114,900 Active 6 DOM
12. 2026-06-01
    days on market $114,900 Active 5 DOM
13. 2026-05-31
    days on market $114,900 Active 4 DOM
14. 2026-05-30
    days on market $114,900 Active 3 DOM
15. 2026-05-27
    listed $114,900 Active

ⓘ 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: $622 · $52/mo
• Projected year-2 tax: $800 · $67/mo
• Expected delta: +$177/yr (+$15/mo · 28.5%)

ⓘ 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 · 19 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 3% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 4 unhealthy d/yr today · 6 by 30 yrs out

Taxation est. · year 1

• Rental income: $18,318
• − Mortgage interest: −$6,436
• − Property taxes: −$622
• − Insurance: −$574
• − Repairs & maintenance: −$1,465
• − Management: −$1,465
• − Depreciation: −$3,343
• Taxable income: $4,411
• Est. tax owed @ 24.0%: −$1,059
• After-tax cash flow: $4,985/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: Warrick County School Corporation
• NCES district ID: 1812390
• Math proficiency: 54% ▼ -8.00%
• Reading proficiency: 59% ▼ -6.00%
• Median HH income: $62,801
• Composite: 49.38/100
• National rank: #2014
• State rank: #24 of 301 in IN

Livability — Chandler

• Score: 66/100
• State rank: #282
• US rank: #11582

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Chandler, IN
• Population (ZIP): 5,695

Population outlook (Warrick County) Hauer SSP2

• Today (2025): 66,569 people
• By 2030: 68,404 · +2.8%
• By 2040: 71,131 · +6.9%
• By 2050: 72,743 · +9.3%
• By 2075: 76,088 · +14.3%
• By 2100: 72,261 · +8.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (95%)
• Race & ethnicity: White 95% Two or more races 5%
• Common ancestry: Lithuanian 3% Italian 2% Slovak 1%
• Foreign-born: 1%
• Languages at home: 98% English-only · Tagalog/Filipino 1%

Political lean MEDSL · Warrick

• 2024 margin: Solid R (+30.2) · D 34.1% · R 64.3% · Other 1.5%
• 2008→2024 swing: -17.4pp toward R · 2008: -12.8pp · 2024: -30.2pp
• All cycles: 2024: R+30.2 2020: R+27.8 2016: R+33.9 2012: R+26.6 2008: R+12.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -72.36%
• Current HPI: 234.6102
• 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

1 event — show timeline

• 2026-05-27 Listed $114,900 IRMLS

Property tax history

+2.8%/yr

Latest (2024): $622 · -24.2% YoY. Source: county tax records.