1725 Hunter Ave · New Castle, IN 47362

$115,000

2 bd · 1.0 ba · 1,007 sqft · SingleFamily public records · 15 Days on market

Built 1930 8,102 sqft lot Est $102k · 13% over

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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 +17.7/30.0
• DSCR +5.5/10.0
• Livability +3.8/5.0
• Rent growth +3.6/5.0
• 1% rule +3.5/10.0
• Schools +2.7/10.0
• Condition / age +2.5/5.0
• ARV discount +1.6/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

NEWLY REMODELED 3 BEDROOM WITH 1 FULL BATH. NEW CARPET THROUGH OUT, NEW VINAL IN KITCHEN. NICE SIZE YARD. QUIET STREET.

Key facts

• Remodeled
• Barn doors
• Fresh paint

Tags

• REMODELED
• NEW FLOORING
• FRESH PAINT
• BLACK HARDWARE ACCENTS
• BARN DOORS
• SPACIOUS LIVING ROOM

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $115k.

Deal economics

• At list price, monthly cash flow is $93 ($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 $97k (15.4% below list).
• Recommended offer: $97k (15.4% below list) — sets the bar for 1% rule.
• Cap rate 7.3% vs local median 4.7% in New Castle — 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 75/100 on livability (#64 in IN, #4,219 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: schools D+, amenities F, commute F.
• New Castle Community School Corporation (town): math 30% / reading 35% proficiency, ranked #229 of 301 in IN (top 76%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising fast (+4.6%/yr); 217 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals leasing fast (median 3d on market — plan ~1-2 weeks tenant-placement turnaround); 47 units permitted in Henry County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $795 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Henry County population projected at -12% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 15 days — a 2% lower offer ($113k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 26y ago; this cycle's ask has dropped $15k (11%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $26k; list at $115k implies a 351% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

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

Recommended offer $97,278 (15.4% below list)

Questions for the listing agent

1. Built in 1930 — 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: 0.85% ✗
• Cap rate: 7.27%
• Cash-on-cash: 3.47%
• DSCR: 1.15
• GRM: 9.9

CMA / ARV

• ARV (on-the-fly): $101,707
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1725 Hunter Ave	0.00mi	3/1.0 (+1)	1,007 (0%)	1mo	$110,000	$109	94
2005 Cottage Ave	0.16mi	3/1.0 (+1)	950 (-6%)	13mo	$22,000	$23	68
2910 E Ave	0.40mi	3/1.0 (+1)	1,032 (+2%)	9mo	$12,500	$12	64
1016 S 19th St	0.71mi	2/1.0	1,008 (+0%)	6mo	$114,900	$114	62
2803 S 23rd St	0.67mi	2/1.0	960 (-5%)	1mo	$75,000	$78	60
2102 S 18th St	0.65mi	2/1.0	988 (-2%)	9mo	$99,900	$101	59
1328 S 20th St	0.54mi	2/1.0	936 (-7%)	11mo	$126,000	$135	54
1929 N Ave	0.54mi	3/1.5 (+1)	936 (-7%)	4mo	$89,900	$96	53
2114 S 18th St	0.66mi	2/1.0	912 (-9%)	3mo	$50,000	$55	51
2128 Grand Ave	0.59mi	2/1.0	861 (-14%)	0mo	$93,000	$108	48
1007 S 24th St	0.52mi	2/1.0	1,150 (+14%)	6mo	$30,000	$26	47
2230 Q Ave	0.47mi	3/1.5 (+1)	1,120 (+11%)	11mo	$165,000	$147	43

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 · 4.59% rent growth · sell at horizon

5-year hold

• IRR: -9.4%
• Equity multiple: 0.65×
• Total profit: $-11,174
• Equity at exit: $17,147

10-year hold

• IRR: 1.8%
• Equity multiple: 1.14×
• Total profit: $4,379
• Equity at exit: $9,943

Cash invested: $32,200 (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 47362

• Home prices YoY: -16.0%
• Rents YoY: 4.6%
• Active inventory: 217
• Price-to-rent: 9.9×

Monthly cashflow live

• Estimated rent: $973 medium
• Mortgage (P&I): −$603
• Tax from tax record: −$24 /mo · $291/yr
• Insurance: −$48
• HOA: −$0
• Vacancy / Maint / Mgmt: −$204
• Net cashflow: $93

Break-even live

Break-even rent $855

Max offer price $115,000

Occupancy floor 85%

Sensitivity live

Price	-10% $158	-5% $126	+0% $93	+5% $61	+10% $28
Rent	-10% $16	-5% $55	+0% $93	+5% $132	+10% $170
Rate	-1.0pp $151	-0.5pp $122	base $93	+0.5pp $63	+1.0pp $33

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: $28,750
• Closing costs: $3,450
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1216 S 19th St New Castle, IN	2.0	1.0	824	$1,000	$1.21	25d	1	0.66mi
1618 P Ave New Castle, IN	3.0	1.5	1064	$950	$0.89	3d	1	0.80mi
940 S 15th St New Castle, IN	1.0–2.0	1.0–1.5	816	$1,075	$1.32	0d	2	0.97mi

Listing history 9 events

1. 2026-04-12
   status Pending
2. 2026-04-02
   price $115,000
3. 2026-03-28
   listed $129,900 Active
4. 2021-12-17
   soldstatus $25,500
5. 2020-08-14
   soldstatus $25,100
6. 2001-10-15
   soldstatus $56,000 121-char remark

   Show marketing remark (121 chars)

   NEWLY REMODELED 3 BEDROOM WITH 1 FULL BATH. NEW CARPET THROUGH OUT, NEW VINAL IN KITCHEN. NICE SIZE YARD. QUIET STREET.

7. 2001-08-01
   listed $56,000 121-char remark

   Show marketing remark (121 chars)

   NEWLY REMODELED 3 BEDROOM WITH 1 FULL BATH. NEW CARPET THROUGH OUT, NEW VINAL IN KITCHEN. NICE SIZE YARD. QUIET STREET.

8. 2000-08-01
   historical
9. 2000-04-15
   listed $22,500

ⓘ 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: $291 · $24/mo
• Projected year-2 tax: $634 · $53/mo
• Expected delta: +$343/yr (+$29/mo · 117.9%)

ⓘ 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 ≥99°F today · 18 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% 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: $11,673
• − Mortgage interest: −$6,442
• − Property taxes: −$291
• − Insurance: −$575
• − Repairs & maintenance: −$934
• − Management: −$934
• − Depreciation: −$3,345
• Taxable loss: −$848
• Est. tax savings @ 24.0%: +$203
• After-tax cash flow: $1,322/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: New Castle Community School Corporation
• NCES district ID: 1807440
• Math proficiency: 30% ▼ -13.00%
• Reading proficiency: 35% ▼ -9.00%
• Median HH income: $36,717
• Composite: 26.99/100
• National rank: #7067
• State rank: #229 of 301 in IN

Livability — New Castle

• Score: 75/100
• State rank: #64
• US rank: #4219

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: New Castle, IN
• County: Henry County · 29,337 people
• City population: 29,337
• Metro: New Castle, IN
• Population (ZIP): 29,337
• Household income: $60,258
• Rent vs Own: 27.6% rent · 72.4% own
• Severe rent burden: 545.0

Population outlook (Henry County) Hauer SSP2

• Today (2025): 48,028 people
• By 2030: 47,125 · -1.9%
• By 2040: 44,820 · -6.7%
• By 2050: 42,207 · -12.1%
• By 2075: 35,814 · -25.4%
• By 2100: 26,779 · -44.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (90%)
• Race & ethnicity: White 90% Two or more races 3% Black 3% Hispanic / Latino 3%
• Common ancestry: Italian 2% Slovak 1% Lithuanian 1%
• Foreign-born: 2% · Canada
• Languages at home: 97% English-only · Spanish 2%

Political lean MEDSL · Henry

• 2024 margin: Solid R (+47.7) · D 25.3% · R 73.0% · Other 1.7%
• 2008→2024 swing: -43.8pp toward R · 2008: -3.9pp · 2024: -47.7pp
• All cycles: 2024: R+47.7 2020: R+45.2 2016: R+43.7 2012: R+17.0 2008: R+3.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -43.70%
• Current HPI: 228.8885
• Rent YoY: ▲ 4.59%
• Metro: New Castle, IN
• 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

+411.1% since first listed

9 events — show timeline

• 2026-04-12 Pending — MIBOR as Distributed by MLS Grid
• 2026-04-02 Price Changed $115,000 MIBOR as Distributed by MLS Grid
• 2026-03-28 Listed $129,900 MIBOR as Distributed by MLS Grid
• 2021-12-17 Sold (Public Records) $25,500 Public Records
• 2020-08-14 Sold (Public Records) $25,100 Public Records
• 2001-10-15 Sold (MLS) $56,000 MIBOR as Distributed by MLS Grid
• 2001-08-01 Listed $56,000 MIBOR as Distributed by MLS Grid
• 2000-08-01 Listing Removed — MIBOR as Distributed by MLS Grid
• 2000-04-15 Listed $22,500 MIBOR as Distributed by MLS Grid

Property tax history

-13.6%/yr

Latest (2024): $291 · +12.0% YoY. Source: county tax records.