2306 Vermont Ave · Connersville, IN 47331

$82,500

2 bd · 1.0 ba · 720 sqft · SingleFamily public records · 17 Days on market

Built 1940 5,663 sqft lot Est $107k · 23% under

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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 +19.2/30.0
• ARV discount +15.0/15.0
• DSCR +6.0/10.0
• 1% rule +5.4/10.0
• 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

Move-in ready! Bring the furniture -- this home is waiting on a new owner. Some of the features include detached garage and a full basement. Ready and waiting! Call today to see this cozy bungalow.

Key facts

• Full basement
• Detached garage
• 5,663 sq ft lot

Tags

• FULL BASEMENT
• DETACHED GARAGE

Property features AI

Exterior

• Parking: Detached 1-car garage
• Utilities: Public water; Public sewer
• Home design: Single-family residence; Single-story
• Construction: Vinyl siding
• Exterior features: Shingle roof; Lot recorded as 40 x 144 (approx. 0.13 acres); Residential zoning

Interior

• Bathrooms: 1 full bathroom
• Heating & cooling: Central air conditioning; Forced air heating (natural gas)
• Interior features: Gas water heater; Total of 4 rooms

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $82k.

Deal economics

• At list price, monthly cash flow is $89 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($858 rent vs $82k).
• Recommended offer: $81k (1.5% below list) — sets the bar for market timing.
• Cap rate 7.6% 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; 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 $570 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 17 days — a 2% lower offer ($81k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 7y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $55k; list at $82k implies a 50% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1940 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $81,262 (1.5% below list)

Questions for the listing agent

1. Built in 1940 — 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: 1.04% ✓
• Cap rate: 7.58%
• Cash-on-cash: 4.60%
• DSCR: 1.20
• GRM: 8.0

CMA / ARV

• ARV (on-the-fly): $107,280
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2308 Vermont Ave	0.01mi	2/1.0	780 (+8%)	6mo	$115,000	$147	81
2250 Indiana Ave	0.15mi	2/1.0	720 (0%)	18mo	$103,500	$144	78
2320 Virginia Ave	0.23mi	2/1.0	720 (0%)	18mo	$85,000	$118	74
220 25 St	0.31mi	2/1.0	700 (-3%)	14mo	$122,000	$174	69
110 W 28th St	0.55mi	2/1.0	754 (+5%)	1mo	$119,000	$158	66
835 Scott St St	0.48mi	2/2.0	720 (0%)	13mo	$120,500	$167	63
2345 Ohio Ave	0.29mi	3/1.0 (+1)	792 (+10%)	9mo	$129,900	$164	58
701 W 32nd St	0.75mi	2/1.0	744 (+3%)	9mo	$111,000	$149	52
817 Scott St	0.44mi	2/1.0	624 (-13%)	7mo	$93,000	$149	51
813 Scott St	0.42mi	2/1.0	624 (-13%)	9mo	$70,000	$112	51
619 W 18th St	0.60mi	2/1.0	815 (+13%)	10mo	$69,900	$86	41
3036 Indiana Ave	0.68mi	2/1.0	792 (+10%)	14mo	$100,000	$126	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: -9.1%
• Equity multiple: 0.67×
• Total profit: $-7,700
• Equity at exit: $12,301

10-year hold

• IRR: 0.4%
• Equity multiple: 1.03×
• Total profit: $662
• Equity at exit: $7,133

Cash invested: $23,100 (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: 8.0×

Monthly cashflow live

• Estimated rent: $858 medium
• Mortgage (P&I): −$433
• Tax from tax record: −$122 /mo · $1,466/yr
• Insurance: −$34
• HOA: −$0
• Vacancy / Maint / Mgmt: −$180
• Net cashflow: $89

Break-even live

Break-even rent $746

Max offer price $82,500

Occupancy floor 85%

Sensitivity live

Price	-10% $135	-5% $112	+0% $89	+5% $65	+10% $42
Rent	-10% $21	-5% $55	+0% $89	+5% $122	+10% $156
Rate	-1.0pp $130	-0.5pp $110	base $89	+0.5pp $67	+1.0pp $45

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: $20,625
• Closing costs: $2,475
• Reserves months: —
• Total cash needed: —

Listing history 15 events

1. 2026-06-22
   days on market $82,500 Active 17 DOM
2. 2026-06-21
   days on market $82,500 Active 16 DOM
3. 2026-06-21
   days on market $82,500 Active 15 DOM
4. 2026-06-18
   price $82,500 Active 13 DOM
5. 2026-06-18
   days on market $85,000 Active 13 DOM
6. 2026-06-17
   days on market $85,000 Active 12 DOM
7. 2026-06-16
   days on market $85,000 Active 11 DOM
8. 2026-06-15
   days on market $85,000 Active 10 DOM
9. 2026-06-13
   days on market $85,000 Active 8 DOM
10. 2026-06-12
    days on market $85,000 Active 7 DOM
11. 2026-06-09
    days on market $85,000 Active 4 DOM
12. 2026-06-08
    days on market $85,000 Active 3 DOM
13. 2026-06-07
    days on market $85,000 Active 2 DOM
14. 2026-06-07
    remarks 658-char remark
15. 2026-06-07
    listed $85,000 Active 1 DOM

ⓘ 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: $1,466 · $122/mo
• Projected year-2 tax: $1,466 · $122/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 · 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: $10,296
• − Mortgage interest: −$4,621
• − Property taxes: −$1,466
• − Insurance: −$412
• − Repairs & maintenance: −$824
• − Management: −$824
• − Depreciation: −$2,400
• Taxable loss: −$252
• Est. tax savings @ 24.0%: +$60
• After-tax cash flow: $1,124/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

+143.6% since first listed

8 events — show timeline

• 2026-06-05 Listed $85,000 RRELMS
• 2020-03-03 Sold (Public Records) $55,000 Public Records
• 2020-03-03 Sold (Public Records) $55,000 Public Records
• 2019-05-10 Sold (Public Records) $30,000 Public Records
• 2019-05-10 Sold (MLS) $30,000 RRELMS
• 2019-05-10 Sold (MLS) $30,000 ECIAOR
• 2019-03-25 Listed $34,900 RRELMS
• 2019-03-25 Listed $34,900 ECIAOR

Property tax history

+67.7%/yr

Latest (2024): $1,466 · +22.2% YoY. Source: county tax records.