805 S Stormont St · Princeton, IN 47670

$129,000

2 bd · 1.0 ba · 968 sqft · SingleFamily public records · 1 Days on market

Built 1892 6,534 sqft lot $133/sqft · at area comps Est $129k · at est.

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Why this score? — see what drove the D+ 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 +18.1/30.0
• ARV discount +7.4/15.0
• DSCR +5.7/10.0
• 1% rule +3.8/10.0
• 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

Welcome to this beautifully refreshed 2-bedroom, 2 full bathroom home that combines modern updates with everyday comfort. From the moment you step inside, you’ll appreciate the new flooring, updated kitchen with refreshed cabinetry and countertops, and stylishly renovated bathrooms. The kitchen offers ample counter space and a functional layout, perfect for both daily living and entertaining. The home’s fresh finishes create a clean, inviting atmosphere throughout, and the new windows enhance natural light and energy efficiency throughout the home. Outside, enjoy a well-maintained yard with a new privacy fence, ideal for relaxing or pets. The detached garage features matching si

Key facts

• New privacy fence
• Well-maintained yard
• Updated kitchen

Tags

• UPDATED KITCHEN
• REFRESHED CABINETRY
• NEW WINDOWS
• WELL-MAINTAINED YARD
• NEW PRIVACY FENCE
• DETACHED GARAGE

Property features AI

Finance

• Other: Annual tax information available

Exterior

• Parking: Detached 1-car garage
• Utilities: Public water; Public sewer
• Home design: Single-family site-built home; One story
• Construction: Vinyl siding; Block foundation; Asphalt roof; Built as a site-built residence
• Exterior features: Privacy fencing; Level lot; Lot dimensions approximately 45 x 142

Interior

• Kitchen: Kitchen includes refrigerator and electric range
• Bedrooms: Total of 7 rooms (includes bedrooms and other living spaces)
• Flooring: Carpet; Laminate
• Bathrooms: 2 full bathrooms, both on the main level
• Heating & cooling: Electric heating; Central air conditioning
• Interior features: Refrigerator; Electric range
• Laundry & utility: Laundry on the main level; Crawl space foundation access

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $129k.

Deal economics

• At list price, monthly cash flow is $114 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $114k (11.9% below list).
• Recommended offer: $114k (11.9% below list) — sets the bar for 1% rule.
• Cap rate 7.4% vs local median 4.7% 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 46d 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 $892 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.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1892 — 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 $113,681 (11.9% below list)

Questions for the listing agent

1. Built in 1892 — 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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 0.88% ✗
• Cap rate: 7.35%
• Cash-on-cash: 3.78%
• DSCR: 1.17
• GRM: 9.5

CMA / ARV

• ARV (median comp): $128,753
• List price: $129,000
• Delta: 0.19%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
805 S Stormont St	0.00mi	2/2.0	968 (0%)	0mo	$131,000	$135	96
403 E Illinois St	0.11mi	3/1.5 (+1)	960 (-1%)	2mo	$167,900	$175	84
820 S Stormont St	0.03mi	2/1.0	1,045 (+8%)	2mo	$113,000	$108	84
613 S Prince St	0.30mi	2/1.0	1,000 (+3%)	5mo	$79,600	$80	77
730 S Stormont St	0.03mi	2/1.0	828 (-14%)	1mo	$53,500	$65	74
121 W Mulberry St	0.37mi	2/1.0	928 (-4%)	3mo	$154,500	$166	73
123 S Race St	0.49mi	2/1.0	956 (-1%)	11mo	$152,000	$159	66
915 S Hall St	0.57mi	2/1.0	875 (-10%)	2mo	$175,000	$200	56
408 E Water St	0.47mi	2/1.0	1,076 (+11%)	7mo	$65,000	$60	54
906 E State St	0.67mi	2/1.0	1,102 (+14%)	0mo	$60,000	$54	46
208 W Makemson Ave	0.52mi	2/1.0	836 (-14%)	12mo	$90,000	$108	43
1313 S Baldwin Ct	0.63mi	3/2.0 (+1)	1,081 (+12%)	2mo	$224,900	$208	41

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: -10.4%
• Equity multiple: 0.62×
• Total profit: $-13,699
• Equity at exit: $19,234

10-year hold

• IRR: -1.1%
• Equity multiple: 0.92×
• Total profit: $-2,786
• Equity at exit: $11,154

Cash invested: $36,120 (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: 9.5×

Monthly cashflow live

• Estimated rent: $1,137 medium
• Mortgage (P&I): −$676
• Tax from tax record: −$54 /mo · $647/yr
• Insurance: −$54
• HOA: −$0
• Vacancy / Maint / Mgmt: −$239
• Net cashflow: $114

Break-even live

Break-even rent $993

Max offer price $129,000

Occupancy floor 85%

Sensitivity live

Price	-10% $187	-5% $150	+0% $114	+5% $77	+10% $41
Rent	-10% $24	-5% $69	+0% $114	+5% $159	+10% $204
Rate	-1.0pp $179	-0.5pp $147	base $114	+0.5pp $80	+1.0pp $46

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: $32,250
• Closing costs: $3,870
• Reserves months: —
• Total cash needed: —

Rent comps 4 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	45d	1	0.35mi
102 N Seminary St Princeton, IN	2.0	1.0	884	$995	$1.13	45d	1	0.52mi
220 W Garfield Ave Princeton, IN	2.0	1.0	1000	$1,700	$1.70	45d	2	0.56mi
629 S Second Ave Princeton, IN	1.0–3.0	1.0–2.0	1001	$1,188	$1.19	45d	29	1.46mi

Listing history 4 events

1. 2026-05-07
   status Pending 1003-char remark
2. 2026-05-06
   listed $129,000 Active 1003-char remark
3. 2021-10-13
   soldstatus $85,000
4. 2016-10-31
   soldstatus $10,000

ⓘ 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: $647 · $54/mo
• Projected year-2 tax: $872 · $73/mo
• Expected delta: +$225/yr (+$19/mo · 34.7%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone X (unshaded) · 20% 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: $13,642
• − Mortgage interest: −$7,226
• − Property taxes: −$647
• − Insurance: −$645
• − Repairs & maintenance: −$1,091
• − Management: −$1,091
• − Depreciation: −$3,753
• Taxable loss: −$812
• Est. tax savings @ 24.0%: +$195
• After-tax cash flow: $1,562/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

+1210.0% since first listed

5 events — show timeline

• 2026-06-08 Sold (MLS) $131,000 IRMLS
• 2026-05-07 Pending — IRMLS
• 2026-05-06 Listed $129,000 IRMLS
• 2021-10-13 Sold (Public Records) $85,000 Public Records
• 2016-10-31 Sold (Public Records) $10,000 Public Records

Property tax history

+0.6%/yr

Latest (2024): $647 · +2.2% YoY. Source: county tax records.