514 W 9th St · Connersville, IN 47331

$69,999

2 bd · 1.0 ba · 644 sqft · SingleFamily public records · 33 Days on market

Built 1966 3,485 sqft lot

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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 +20.8/30.0
• ARV discount +7.5/15.0
• DSCR +6.6/10.0
• 1% rule +4.4/10.0
• 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

Listing remarks MLS

Welcome to this well-maintained home, perfect for those who appreciate simplicity and quality. With its compact and efficient design, this home offers a comfortable living space that is easy to manage and maintain. Key Features: Well-Appointed Living Area: Enjoy a cozy and inviting space that is versatile for relaxation or entertainment. Detached 1-Car Garage/Workshop: Ideal for hobbyists or as additional storage, the garage doubles as a workshop for all your creative projects. Investor's Delight: This property presents a fantastic opportunity for investors looking for a property with excellent rental potential. Convenient Location: Nestled in a prime spot, you’re never more than a few minutes away from your daily needs. Whether it’s grocery shopping, a coffee run, or a last-minute gift, local shops are just around the corner. This home is a gem for anyone seeking a minimalist lifestyle without compromising on comfort and convenience. Its prime location and well-crafted space make it a smart choice for first-time homebuyers, downsizers, or savvy investors.

Key facts

• 3,485 sq ft lot
• Garage
• Built 1966

Property features AI

Exterior

• Parking: Detached gravel garage with 1 garage space
• Utilities: Public water; Public sewer
• Home design: Single-family residence; One story
• Construction: Vinyl siding
• Exterior features: Chain link fencing; Asphalt roof

Interior

• Kitchen: Gas range; Refrigerator
• Bedrooms: Total of 4 rooms (includes bedrooms and living areas)
• Bathrooms: 1 full bathroom
• Heating & cooling: Hot water heating; Window air conditioning unit(s)
• Interior features: Gas range; Refrigerator; Washer and dryer included; Partial basement with crawl space
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $70k.

Deal economics

• At list price, monthly cash flow is $96 ($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 $66k (5.6% below list).
• Recommended offer: $66k (5.6% below list) — sets the bar for 1% rule.
• Cap rate 7.9% 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+, schools D-.
• 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.
• Market conditions: 172 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 $484 of loan paydown is wiped out by about $2k 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.

Negotiation context

• It's been on market 33 days — a 3% lower offer ($68k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 2y ago; this cycle's ask has dropped $5k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $44k; list at $70k implies a 59% gain — meaningful room to come down on a strong offer.

Recommended offer $66,111 (5.6% below list)

Questions for the listing agent

1. It's been on market 33 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 1966 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
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: 0.94% ✗
• Cap rate: 7.94%
• Cash-on-cash: 5.90%
• DSCR: 1.26
• GRM: 8.8

CMA / ARV

• ARV (on-the-fly): $36,064
• Comps found: 10

Show comp detail 10 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
829 Walnut St	0.04mi	2/1.0	720 (+12%)	11mo	$24,294	$34	69
533 W 8th St	0.11mi	2/1.0	720 (+12%)	8mo	$94,000	$131	69
617 Sherman Dr	0.24mi	2/1.0	720 (+12%)	1mo	$47,000	$65	69
827 Walnut St	0.04mi	2/1.0	720 (+12%)	15mo	$30,000	$42	66
416 9th St	0.07mi	1/1.0 (-1)	576 (-11%)	16mo	$32,050	$56	61
1017-1019 Grand Ave	0.31mi	2/2.0	720 (+12%)	2mo	$30,500	$42	60
1042 Beech St	0.33mi	1/1.0 (-1)	588 (-9%)	16mo	$24,500	$42	52
722 Maple St	0.40mi	2/1.0	720 (+12%)	12mo	$32,500	$45	51
122 Cengra Dr	0.45mi	2/1.0	720 (+12%)	19mo	$63,000	$88	43
1111 Houghton St	0.48mi	1/1.0 (-1)	728 (+13%)	13mo	$150,000	$206	40

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: -7.2%
• Equity multiple: 0.73×
• Total profit: $-5,231
• Equity at exit: $10,437

10-year hold

• IRR: 2.3%
• Equity multiple: 1.17×
• Total profit: $3,244
• Equity at exit: $6,052

Cash invested: $19,600 (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: 172
• Price-to-rent: 8.8×

Monthly cashflow live

• Estimated rent: $661 medium
• Mortgage (P&I): −$367
• Tax from tax record: −$30 /mo · $356/yr
• Insurance: −$29
• HOA: −$0
• Vacancy / Maint / Mgmt: −$139
• Net cashflow: $96

Break-even live

Break-even rent $539

Max offer price $69,999

Occupancy floor 80%

Sensitivity live

Price	-10% $136	-5% $116	+0% $96	+5% $77	+10% $57
Rent	-10% $44	-5% $70	+0% $96	+5% $122	+10% $149
Rate	-1.0pp $132	-0.5pp $114	base $96	+0.5pp $78	+1.0pp $60

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: $17,500
• Closing costs: $2,100
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
430 N Central Ave Apt 103 Connersville, IN	2.0	1.0	650	$700	$1.08	25d	1	0.46mi
701 S Fountain St Connersville, IN	1.0	1.0	600	$550	$0.92	2d	1	1.23mi

Listing history 26 events

1. 2026-06-21
   days on market $69,999 Active 33 DOM
2. 2026-06-18
   days on market $69,999 Active 31 DOM
3. 2026-06-17
   days on market $69,999 Active 30 DOM
4. 2026-06-16
   days on market $69,999 Active 29 DOM
5. 2026-06-15
   days on market $69,999 Active 28 DOM
6. 2026-06-13
   days on market $69,999 Active 26 DOM
7. 2026-06-12
   days on market $69,999 Active 25 DOM
8. 2026-06-09
   pricedays on market $69,999 Active 22 DOM
9. 2026-06-08
   days on market $74,999 Active 21 DOM
10. 2026-06-07
    days on market $74,999 Active 20 DOM
11. 2026-06-07
    days on market $74,999 Active 19 DOM
12. 2026-06-04
    days on market $74,999 Active 16 DOM
13. 2026-06-02
    days on market $74,999 Active 15 DOM
14. 2026-06-01
    days on market $74,999 Active 14 DOM
15. 2026-05-31
    days on market $74,999 Active 13 DOM
16. 2026-05-31
    days on market $74,999 Active 12 DOM
17. 2026-05-19
    status Active
18. 2026-05-01
    status Pending
19. 2026-04-29
    listed $74,999 Active
20. 2024-07-02
    soldstatus $44,000 Closed 1085-char remark

    Show marketing remark (1085 chars)

    Welcome to this well-maintained home, perfect for those who appreciate simplicity and quality. With its compact and efficient design, this home offers a comfortable living space that is easy to manage and maintain. Key Features: Well-Appointed Living Area: Enjoy a cozy and inviting space that is versatile for relaxation or entertainment. Detached 1-Car Garage/Workshop: Ideal for hobbyists or as additional storage, the garage doubles as a workshop for all your creative projects. Investor's Delight: This property presents a fantastic opportunity for investors looking for a property with excellent rental potential. Convenient Location: Nestled in a prime spot, you’re never more than a few minutes away from your daily needs. Whether it’s grocery shopping, a coffee run, or a last-minute gift, local shops are just around the corner. This home is a gem for anyone seeking a minimalist lifestyle without compromising on comfort and convenience. Its prime location and well-crafted space make it a smart choice for first-time homebuyers, downsizers, or savvy investors.

21. 2024-07-02
    soldstatus $44,000

    Show marketing remark (1085 chars)

    Welcome to this well-maintained home, perfect for those who appreciate simplicity and quality. With its compact and efficient design, this home offers a comfortable living space that is easy to manage and maintain. Key Features: Well-Appointed Living Area: Enjoy a cozy and inviting space that is versatile for relaxation or entertainment. Detached 1-Car Garage/Workshop: Ideal for hobbyists or as additional storage, the garage doubles as a workshop for all your creative projects. Investor's Delight: This property presents a fantastic opportunity for investors looking for a property with excellent rental potential. Convenient Location: Nestled in a prime spot, you’re never more than a few minutes away from your daily needs. Whether it’s grocery shopping, a coffee run, or a last-minute gift, local shops are just around the corner. This home is a gem for anyone seeking a minimalist lifestyle without compromising on comfort and convenience. Its prime location and well-crafted space make it a smart choice for first-time homebuyers, downsizers, or savvy investors.

22. 2024-06-17
    status Pending 1085-char remark

    Show marketing remark (1085 chars)

    Welcome to this well-maintained home, perfect for those who appreciate simplicity and quality. With its compact and efficient design, this home offers a comfortable living space that is easy to manage and maintain. Key Features: Well-Appointed Living Area: Enjoy a cozy and inviting space that is versatile for relaxation or entertainment. Detached 1-Car Garage/Workshop: Ideal for hobbyists or as additional storage, the garage doubles as a workshop for all your creative projects. Investor's Delight: This property presents a fantastic opportunity for investors looking for a property with excellent rental potential. Convenient Location: Nestled in a prime spot, you’re never more than a few minutes away from your daily needs. Whether it’s grocery shopping, a coffee run, or a last-minute gift, local shops are just around the corner. This home is a gem for anyone seeking a minimalist lifestyle without compromising on comfort and convenience. Its prime location and well-crafted space make it a smart choice for first-time homebuyers, downsizers, or savvy investors.

23. 2024-06-13
    status Active 1085-char remark

    Show marketing remark (1085 chars)

    Welcome to this well-maintained home, perfect for those who appreciate simplicity and quality. With its compact and efficient design, this home offers a comfortable living space that is easy to manage and maintain. Key Features: Well-Appointed Living Area: Enjoy a cozy and inviting space that is versatile for relaxation or entertainment. Detached 1-Car Garage/Workshop: Ideal for hobbyists or as additional storage, the garage doubles as a workshop for all your creative projects. Investor's Delight: This property presents a fantastic opportunity for investors looking for a property with excellent rental potential. Convenient Location: Nestled in a prime spot, you’re never more than a few minutes away from your daily needs. Whether it’s grocery shopping, a coffee run, or a last-minute gift, local shops are just around the corner. This home is a gem for anyone seeking a minimalist lifestyle without compromising on comfort and convenience. Its prime location and well-crafted space make it a smart choice for first-time homebuyers, downsizers, or savvy investors.

24. 2024-05-22
    historical 1085-char remark

    Show marketing remark (1085 chars)

    Welcome to this well-maintained home, perfect for those who appreciate simplicity and quality. With its compact and efficient design, this home offers a comfortable living space that is easy to manage and maintain. Key Features: Well-Appointed Living Area: Enjoy a cozy and inviting space that is versatile for relaxation or entertainment. Detached 1-Car Garage/Workshop: Ideal for hobbyists or as additional storage, the garage doubles as a workshop for all your creative projects. Investor's Delight: This property presents a fantastic opportunity for investors looking for a property with excellent rental potential. Convenient Location: Nestled in a prime spot, you’re never more than a few minutes away from your daily needs. Whether it’s grocery shopping, a coffee run, or a last-minute gift, local shops are just around the corner. This home is a gem for anyone seeking a minimalist lifestyle without compromising on comfort and convenience. Its prime location and well-crafted space make it a smart choice for first-time homebuyers, downsizers, or savvy investors.

25. 2024-05-14
    listed $44,900 1085-char remark

    Show marketing remark (1085 chars)

    Welcome to this well-maintained home, perfect for those who appreciate simplicity and quality. With its compact and efficient design, this home offers a comfortable living space that is easy to manage and maintain. Key Features: Well-Appointed Living Area: Enjoy a cozy and inviting space that is versatile for relaxation or entertainment. Detached 1-Car Garage/Workshop: Ideal for hobbyists or as additional storage, the garage doubles as a workshop for all your creative projects. Investor's Delight: This property presents a fantastic opportunity for investors looking for a property with excellent rental potential. Convenient Location: Nestled in a prime spot, you’re never more than a few minutes away from your daily needs. Whether it’s grocery shopping, a coffee run, or a last-minute gift, local shops are just around the corner. This home is a gem for anyone seeking a minimalist lifestyle without compromising on comfort and convenience. Its prime location and well-crafted space make it a smart choice for first-time homebuyers, downsizers, or savvy investors.

26. 2024-04-08
    listed $44,000 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: $356 · $30/mo
• Projected year-2 tax: $475 · $40/mo
• Expected delta: +$119/yr (+$10/mo · 33.6%)

ⓘ 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 ≥101°F today · 20 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: $7,933
• − Mortgage interest: −$3,921
• − Property taxes: −$356
• − Insurance: −$350
• − Repairs & maintenance: −$635
• − Management: −$635
• − Depreciation: −$2,036
• Taxable income: $1
• Est. tax owed @ 24.0%: −$0
• After-tax cash flow: $1,156/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

+70.5% since first listed

10 events — show timeline

• 2026-05-19 Relisted — RRELMS
• 2026-05-01 Pending — RRELMS
• 2026-04-29 Listed $74,999 RRELMS
• 2024-07-02 Sold (Public Records) $44,000 Public Records
• 2024-07-02 Sold (MLS) $44,000 RRELMS
• 2024-06-17 Pending — RRELMS
• 2024-06-13 Relisted — RRELMS
• 2024-05-22 Delisted — RRELMS
• 2024-05-14 Listed $44,900 RRELMS
• 2024-04-08 Listed $44,000 SEIBR

Property tax history

+11.5%/yr

Latest (2024): $356 · -48.3% YoY. Source: county tax records.