622 Broadway St · New Haven, IN 46774

$154,400

3 bd · 1.5 ba · 1,738 sqft · SingleFamily public records · 78 Days on market

Built 1930 8,501 sqft lot $89/sqft · 18% below area Est $189k · 18% under ↓ 19% since listing

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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 +16.2/30.0
• ARV discount +15.0/15.0
• 1% rule +5.1/10.0
• DSCR +5.0/10.0
• Schools +3.6/10.0
• Livability +3.5/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

What a unique opportunity in the heart of New Haven! This property offers limitless options but is currently set up as a 3 bedroom home with attached retail front. Flexible zoning allows for a variety of utilizations here, with sidewalk and street access PLUS several off street parking spaces. Large two car detached garage and additional shed are out back as well. This is a rare opportunity in a great location! This property is offered "as is". Schedule your showing today!

Key facts

• Flexible zoning
• Additional shed
• 8,501 sq ft lot

Tags

• ATTACHED RETAIL FRONT
• FLEXIBLE ZONING
• SIDEWALK AND STREET ACCESS
• OFF STREET PARKING SPACES
• LARGE TWO CAR DETACHED GARAGE
• ADDITIONAL SHED

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $154k.

Deal economics

• At list price, monthly cash flow is $82 ($986/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $154k).
• Recommended offer: $145k (6.0% below list) — sets the bar for market timing.
• Cap rate 6.9% vs local median 4.9% in New Haven — 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 70/100 on livability (#149 in IN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime B+; Watch: schools D+, employment D, amenities F.
• East Allen County Schools (suburban): math 36% / reading 47% proficiency, ranked #122 of 301 in IN (top 40%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 176 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 50% of comp listings sitting > 30 days — soft ceiling on asking rent; 1,861 units permitted in Allen County in 2024 (576 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• Allen County population projected at +10% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• It's been on market 78 days — a 6% lower offer ($145k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1930 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $145,136 (6.0% below list)

Questions for the listing agent

1. It's been on market 78 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1930 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
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: 1.01% ✓
• Cap rate: 6.93%
• Cash-on-cash: 2.28%
• DSCR: 1.10
• GRM: 8.3

CMA / ARV

• ARV (median comp): $188,740
• List price: $154,400
• Delta: -18.19%
• 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
802 Main St	0.15mi	3/1.5	1,810 (+4%)	8mo	$195,000	$108	80
630 High St	0.14mi	2/1.0 (-1)	1,621 (-7%)	9mo	$150,000	$93	68
1201 Canal St	0.35mi	3/1.5	1,646 (-5%)	9mo	$178,000	$108	68
527 South St	0.30mi	3/2.0	1,580 (-9%)	8mo	$175,900	$111	62
1706 N Tyland Blvd	0.66mi	3/2.0	1,800 (+4%)	2mo	$220,000	$122	60
348 W Tyland Blvd	0.59mi	3/2.0	1,660 (-4%)	5mo	$219,900	$132	59
1018 Bell Ave	0.28mi	4/2.0 (+1)	1,958 (+13%)	3mo	$165,000	$84	56
212 West St	0.50mi	2/2.0 (-1)	1,624 (-7%)	4mo	$145,000	$89	56
1709 N Tyland Blvd	0.66mi	3/2.0	1,920 (+10%)	3mo	$158,000	$82	47
1234 Summit St	0.33mi	4/2.0 (+1)	1,971 (+13%)	10mo	$210,000	$107	46
347 Twillo Run Dr	0.72mi	3/1.5	1,532 (-12%)	6mo	$145,000	$95	42
1728 N Tyland Blvd	0.70mi	3/2.0	1,983 (+14%)	8mo	$253,000	$128	35

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: -12.6%
• Equity multiple: 0.54×
• Total profit: $-19,711
• Equity at exit: $23,022

10-year hold

• IRR: -3.5%
• Equity multiple: 0.77×
• Total profit: $-10,128
• Equity at exit: $13,350

Cash invested: $43,232 (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 46774

• Active inventory: 176
• Price-to-rent: 8.3×

Monthly cashflow live

• Estimated rent: $1,556 medium
• Mortgage (P&I): −$810
• Tax from tax record: −$273 /mo · $3,273/yr
• Insurance: −$64
• HOA: −$0
• Vacancy / Maint / Mgmt: −$327
• Net cashflow: $82

Break-even live

Break-even rent $1,452

Max offer price $154,400

Occupancy floor 90%

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: $38,600
• Closing costs: $4,632
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1135 Summit St New Haven, IN	2.0	1.0	1061	$1,025	$0.97	21d	1	0.28mi
3599 Canal Square Dr New Haven, IN	3.0	2.5	1832	$2,295	$1.25	21d	1	1.18mi
3591 Canal Square Dr New Haven, IN	3.0	1.5	1467	$1,695	$1.16	43d	1	1.31mi
10390 Silver Rock Chase New Haven, IN	4.0	2.5	1767	$2,250	$1.27	43d	1	1.49mi

Listing history 10 events

1. 2026-05-30
   status $154,400 Pending 78 DOM
2. 2026-05-09
   price $154,400 487-char remark

   Show marketing remark (487 chars)

   What a unique opportunity in the heart of New Haven! This property offers limitless options but is currently set up as a 3 bedroom home with attached retail front. Flexible zoning allows for a variety of utilizations here, with sidewalk and street access PLUS several off street parking spaces. Large two car detached garage and additional shed are out back as well. This is a rare opportunity in a great location! This property is offered "as is". Schedule your showing today!

3. 2026-05-07
   price $159,400 487-char remark

   Show marketing remark (487 chars)

   What a unique opportunity in the heart of New Haven! This property offers limitless options but is currently set up as a 3 bedroom home with attached retail front. Flexible zoning allows for a variety of utilizations here, with sidewalk and street access PLUS several off street parking spaces. Large two car detached garage and additional shed are out back as well. This is a rare opportunity in a great location! This property is offered "as is". Schedule your showing today!

4. 2026-05-07
   price $149,400 487-char remark

   Show marketing remark (487 chars)

   What a unique opportunity in the heart of New Haven! This property offers limitless options but is currently set up as a 3 bedroom home with attached retail front. Flexible zoning allows for a variety of utilizations here, with sidewalk and street access PLUS several off street parking spaces. Large two car detached garage and additional shed are out back as well. This is a rare opportunity in a great location! This property is offered "as is". Schedule your showing today!

5. 2026-04-29
   price $159,400 487-char remark

   Show marketing remark (487 chars)

   What a unique opportunity in the heart of New Haven! This property offers limitless options but is currently set up as a 3 bedroom home with attached retail front. Flexible zoning allows for a variety of utilizations here, with sidewalk and street access PLUS several off street parking spaces. Large two car detached garage and additional shed are out back as well. This is a rare opportunity in a great location! This property is offered "as is". Schedule your showing today!

6. 2026-04-20
   price $164,900 487-char remark

   Show marketing remark (487 chars)

   What a unique opportunity in the heart of New Haven! This property offers limitless options but is currently set up as a 3 bedroom home with attached retail front. Flexible zoning allows for a variety of utilizations here, with sidewalk and street access PLUS several off street parking spaces. Large two car detached garage and additional shed are out back as well. This is a rare opportunity in a great location! This property is offered "as is". Schedule your showing today!

7. 2026-04-09
   price $169,900 487-char remark

   Show marketing remark (487 chars)

   What a unique opportunity in the heart of New Haven! This property offers limitless options but is currently set up as a 3 bedroom home with attached retail front. Flexible zoning allows for a variety of utilizations here, with sidewalk and street access PLUS several off street parking spaces. Large two car detached garage and additional shed are out back as well. This is a rare opportunity in a great location! This property is offered "as is". Schedule your showing today!

8. 2026-03-27
   price $174,900 487-char remark

   Show marketing remark (487 chars)

   What a unique opportunity in the heart of New Haven! This property offers limitless options but is currently set up as a 3 bedroom home with attached retail front. Flexible zoning allows for a variety of utilizations here, with sidewalk and street access PLUS several off street parking spaces. Large two car detached garage and additional shed are out back as well. This is a rare opportunity in a great location! This property is offered "as is". Schedule your showing today!

9. 2026-03-19
   price $184,900 487-char remark

   Show marketing remark (487 chars)

   What a unique opportunity in the heart of New Haven! This property offers limitless options but is currently set up as a 3 bedroom home with attached retail front. Flexible zoning allows for a variety of utilizations here, with sidewalk and street access PLUS several off street parking spaces. Large two car detached garage and additional shed are out back as well. This is a rare opportunity in a great location! This property is offered "as is". Schedule your showing today!

10. 2026-03-12
    listed $189,900 Active 487-char remark

    Show marketing remark (487 chars)

    What a unique opportunity in the heart of New Haven! This property offers limitless options but is currently set up as a 3 bedroom home with attached retail front. Flexible zoning allows for a variety of utilizations here, with sidewalk and street access PLUS several off street parking spaces. Large two car detached garage and additional shed are out back as well. This is a rare opportunity in a great location! This property is offered "as is". Schedule your showing today!

ⓘ 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: $3,273 · $273/mo
• Projected year-2 tax: $3,273 · $273/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 · 17 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $18,668
• − Mortgage interest: −$8,649
• − Property taxes: −$3,273
• − Insurance: −$772
• − Repairs & maintenance: −$1,493
• − Management: −$1,493
• − Depreciation: −$4,492
• Taxable loss: −$1,504
• Est. tax savings @ 24.0%: +$361
• After-tax cash flow: $1,347/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: East Allen County Schools
• NCES district ID: 1802850
• Math proficiency: 36% ▼ -8.00%
• Reading proficiency: 47% ▼ -4.00%
• Median HH income: $50,524
• Composite: 35.75/100
• National rank: #4849
• State rank: #122 of 301 in IN

Livability — New Haven

• Score: 70/100
• State rank: #149
• US rank: #7499

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: New Haven, IN
• Population (ZIP): 17,066

Population outlook (Allen County) Hauer SSP2

• Today (2025): 394,020 people
• By 2030: 405,128 · +2.8%
• By 2040: 423,476 · +7.5%
• By 2050: 435,137 · +10.4%
• By 2075: 450,293 · +14.3%
• By 2100: 424,101 · +7.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (89%)
• Race & ethnicity: White 89% Two or more races 4% Hispanic / Latino 4% Black 3% Asian 1%
• Common ancestry: Lithuanian 5% Italian 2% Slovak 1%
• Foreign-born: 3% · Canada, Philippines
• Languages at home: 89% English-only · German/W. Germanic 6% Spanish 3% Chinese 1%

Political lean MEDSL · Allen

• 2024 margin: R (+12.5) · D 42.9% · R 55.4% · Other 1.7%
• 2008→2024 swing: -8.1pp toward R · 2008: -4.3pp · 2024: -12.5pp
• All cycles: 2024: R+12.5 2020: R+11.2 2016: R+19.6 2012: R+16.8 2008: R+4.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -185.27%
• Current HPI: 241.5333
• 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

-18.7% since first listed

9 events — show timeline

• 2026-05-09 Price Changed $154,400 IRMLS
• 2026-05-07 Price Changed $159,400 IRMLS
• 2026-05-07 Price Changed $149,400 IRMLS
• 2026-04-29 Price Changed $159,400 IRMLS
• 2026-04-20 Price Changed $164,900 IRMLS
• 2026-04-09 Price Changed $169,900 IRMLS
• 2026-03-27 Price Changed $174,900 IRMLS
• 2026-03-19 Price Changed $184,900 IRMLS
• 2026-03-12 Listed $189,900 IRMLS

Property tax history

+1.4%/yr

Latest (2024): $3,273 · +10.7% YoY. Source: county tax records.