1411 Fayette St · Connersville, IN 47331

$45,000

3 bd · 1.0 ba · 924 sqft · SingleFamily public records · 4 Days on market

Built 1920 6,970 sqft lot $49/sqft · 47% below area Est $85k · 47% under ↓ 10% since listing

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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 +3.2/5.0
• Schools +2.9/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +2.3/10.0

Key facts

• 6,970 sq ft lot
• Built 1920
• Listed 4 days

Property features AI

Exterior

• Utilities: Public water; Public sewer
• Home design: Single Family Residence; Single-story
• Exterior features: Covered patio/porch; Level lot

Interior

• Bathrooms: 1 full bathroom
• Heating & cooling: Central air conditioning
• Interior features: Basement

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $45k.

Deal economics

• At list price, monthly cash flow is $348 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($837 rent vs $45k).
• Cap rate 15.6% vs local median 4.9% 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); Connersville Middle School (math 21% / reading 38%, grade F, #212 of 330 statewide, top 67%, 505 students, 61% FRL); Connersville Sr High School (math 26% / reading 62%, grade F, #189 of 369 statewide, top 51%, 966 students, 55% FRL).
• Market conditions: 173 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 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 $311 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 $13k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $45,000

Questions for the listing agent

1. Built in 1920 — 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. 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: 1.86% ✓
• Cap rate: 15.58%
• Cash-on-cash: 33.16%
• DSCR: 2.48
• GRM: 4.5

CMA / ARV

• ARV (median comp): $84,788
• List price: $45,000
• Delta: -46.93%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1411 Fayette St	0.00mi	2/1.0 (-1)	924 (0%)	1mo	$40,000	$43	94
1512 Conwell St	0.10mi	2/1.0 (-1)	988 (+7%)	1mo	$55,500	$56	78
1716 East St	0.25mi	3/1.0	900 (-3%)	10mo	$109,000	$121	76
1516 Indiana Ave	0.32mi	2/1.0 (-1)	1,010 (+9%)	2mo	$38,000	$38	63
107 17th St	0.31mi	2/1.0 (-1)	989 (+7%)	10mo	$132,500	$134	61
223 15th St	0.28mi	2/1.0 (-1)	792 (-14%)	1mo	$39,000	$49	57
529 W 20th St	0.68mi	2/1.0 (-1)	884 (-4%)	7mo	$87,000	$98	50
1603 Grand Ave	0.43mi	2/1.0 (-1)	1,023 (+11%)	9mo	$136,000	$133	50
640 W 17th St	0.61mi	3/1.5	1,032 (+12%)	2mo	$35,000	$34	49
1824 Boulevard Pl	0.64mi	2/1.0 (-1)	1,036 (+12%)	3mo	$103,000	$99	42
114 Holly St	0.71mi	2/1.0 (-1)	816 (-12%)	4mo	$110,000	$135	39
619 W 18th St	0.61mi	2/1.0 (-1)	815 (-12%)	10mo	$69,900	$86	38

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: 28.4%
• Equity multiple: 2.18×
• Total profit: $14,900
• Equity at exit: $6,710

10-year hold

• IRR: 35.8%
• Equity multiple: 4.30×
• Total profit: $41,589
• Equity at exit: $3,891

Cash invested: $12,600 (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: 4.5×

Monthly cashflow live

• Estimated rent: $837 medium
• Mortgage (P&I): −$236
• Tax from tax record: −$58 /mo · $698/yr
• Insurance: −$19
• HOA: −$0
• Vacancy / Maint / Mgmt: −$176
• Net cashflow: $348

Break-even live

Break-even rent $396

Max offer price $45,000

Occupancy floor 53%

Sensitivity live

Price	-10% $374	-5% $361	+0% $348	+5% $335	+10% $323
Rent	-10% $282	-5% $315	+0% $348	+5% $381	+10% $414
Rate	-1.0pp $371	-0.5pp $360	base $348	+0.5pp $337	+1.0pp $325

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: $11,250
• Closing costs: $1,350
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
309 W 11th St Connersville, IN	2.0	1.0	984	$900	$0.91	26d	1	0.47mi
430 N Central Ave Apt 103 Connersville, IN	2.0	1.0	650	$700	$1.08	26d	1	0.77mi

Listing history 5 events

1. 2026-05-06
   status Pending
2. 2026-05-01
   listed $45,000 Active
3. 2010-11-09
   soldstatus $32,000
4. 2009-02-20
   soldstatus $45,000
5. 2007-01-10
   soldstatus $44,646

ⓘ 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: $698 · $58/mo
• Projected year-2 tax: $698 · $58/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 3/10 Moderate 7 d/yr ≥100°F today · 19 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: $10,042
• − Mortgage interest: −$2,521
• − Property taxes: −$698
• − Insurance: −$225
• − Repairs & maintenance: −$803
• − Management: −$803
• − Depreciation: −$1,309
• Taxable income: $3,683
• Est. tax owed @ 24.0%: −$884
• After-tax cash flow: $3,295/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

-10.4% since first listed

6 events — show timeline

• 2026-06-05 Sold (MLS) $40,000 ECIAOR
• 2026-05-06 Pending — ECIAOR
• 2026-05-01 Listed $45,000 ECIAOR
• 2010-11-09 Sold (Public Records) $32,000 Public Records
• 2009-02-20 Sold (Public Records) $45,000 Public Records
• 2007-01-10 Sold (Public Records) $44,646 Public Records

Property tax history

+1.1%/yr

Latest (2024): $698 · -38.7% YoY. Source: county tax records.