1409 S Park Dr · New Haven, IN 46774

$204,000

4 bd · 2.5 ba · 2,693 sqft · SingleFamily public records · 73 Days on market

Built 1967 0.26 ac lot Est $288k · 29% under

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Why this score? — see what drove the B- 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 +24.5/30.0
• ARV discount +15.0/15.0
• DSCR +7.9/10.0
• 1% rule +6.2/10.0
• 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

Are you looking for a spacious home in New Haven? This 5 bedroom home has tons of space, a large lot, and is on a quiet street. There are brick accent walls, spacious rooms, a galley style kitchen, wood burning fireplace, and much more! The upstairs features two HUGE bedrooms with great closest space and a full bath. The large deck in the backyard is perfect for entertaining and will be a great way to spend the summer months. The shed has been finished and there is additional storage in the back of the home that is perfect for storing mowers, lawn and garden items, or bikes. Be sure to setup your showing today.

Key facts

• Close to schools
• Shed
• Open floorplan

Tags

• OPEN FLOORPLAN
• FENCED IN BACKYARD
• DECK
• SHED
• CLOSE TO SCHOOLS

What this means for you Summary

Snapshot

• This is a 4-bed/2.5-bath single-family listed at $204k.

Deal economics

• At list price, monthly cash flow is $417 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $204k).
• Recommended offer: $192k (6.0% below list) — sets the bar for market timing.
• Cap rate 8.7% vs local median 4.8% 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: employment D, amenities F, commute 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.
• Zoned schools: New Haven Primary School (470 students, 61% FRL); New Haven Jr/Sr High School (math 21% / reading 50%, grade F, #263 of 369 statewide, top 72%, 1,494 students, 67% FRL) — zoned schools average 64% FRL vs 43% district-wide (21 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 179 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 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 $6k 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 73 days — a 6% lower offer ($192k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 9y ago; this cycle's ask has dropped $22k (10%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Recommended offer $191,760 (6.0% below list)

Questions for the listing agent

1. It's been on market 73 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 1967 — 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: 1.12% ✓
• Cap rate: 8.74%
• Cash-on-cash: 8.75%
• DSCR: 1.39
• GRM: 7.5

CMA / ARV

• ARV (on-the-fly): $288,151
• Comps found: 8

Show comp detail 8 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1330 Summit St	0.29mi	5/3.5 (+1)	2,427 (-10%)	2mo	$349,900	$144	60
924 Schnelker Ct	0.19mi	3/2.5 (-1)	2,880 (+7%)	20mo	$287,000	$100	58
1502 N Park Dr	0.07mi	4/2.0	3,026 (+12%)	20mo	$245,000	$81	57
10929 Lincoln Hwy E	0.54mi	5/3.0 (+1)	2,562 (-5%)	10mo	$339,275	$132	51
1140 Powers St	0.54mi	4/2.0	2,991 (+11%)	11mo	$215,000	$72	45
547 State Road 930 Hwy E	0.74mi	4/2.0	2,716 (+1%)	23mo	$250,000	$92	43
10905 Trailwood Ln	0.67mi	3/2.5 (-1)	2,443 (-9%)	17mo	$279,900	$115	34
608 Center St	0.68mi	4/2.0	2,375 (-12%)	17mo	$254,000	$107	32

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: -3.0%
• Equity multiple: 0.89×
• Total profit: $-6,499
• Equity at exit: $30,417

10-year hold

• IRR: 6.7%
• Equity multiple: 1.50×
• Total profit: $28,584
• Equity at exit: $17,638

Cash invested: $57,120 (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 46774

• Active inventory: 179
• Price-to-rent: 7.5×

Monthly cashflow live

• Estimated rent: $2,276 medium
• Mortgage (P&I): −$1,070
• Tax from tax record: −$226 /mo · $2,717/yr
• Insurance: −$85
• HOA: −$0
• Vacancy / Maint / Mgmt: −$478
• Net cashflow: $417

Break-even live

Break-even rent $1,748

Max offer price $204,000

Occupancy floor 77%

Sensitivity live

Price	-10% $532	-5% $474	+0% $417	+5% $359	+10% $301
Rent	-10% $237	-5% $327	+0% $417	+5% $507	+10% $597
Rate	-1.0pp $519	-0.5pp $469	base $417	+0.5pp $364	+1.0pp $310

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: $51,000
• Closing costs: $6,120
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3599 Canal Square Dr New Haven, IN	3.0	2.5	1832	$2,295	$1.25	22d	1	0.99mi
10390 Silver Rock Chase New Haven, IN	4.0	2.5	1767	$2,250	$1.27	45d	1	1.29mi

Listing history 9 events

1. 2026-04-16
   status Pending
2. 2026-03-17
   price $204,000
3. 2026-01-30
   listed $226,000 Active
4. 2023-02-13
   soldstatus $227,500 Closed 618-char remark

   Show marketing remark (618 chars)

   Are you looking for a spacious home in New Haven? This 5 bedroom home has tons of space, a large lot, and is on a quiet street. There are brick accent walls, spacious rooms, a galley style kitchen, wood burning fireplace, and much more! The upstairs features two HUGE bedrooms with great closest space and a full bath. The large deck in the backyard is perfect for entertaining and will be a great way to spend the summer months. The shed has been finished and there is additional storage in the back of the home that is perfect for storing mowers, lawn and garden items, or bikes. Be sure to setup your showing today.

5. 2023-01-11
   status Pending 618-char remark

   Show marketing remark (618 chars)

   Are you looking for a spacious home in New Haven? This 5 bedroom home has tons of space, a large lot, and is on a quiet street. There are brick accent walls, spacious rooms, a galley style kitchen, wood burning fireplace, and much more! The upstairs features two HUGE bedrooms with great closest space and a full bath. The large deck in the backyard is perfect for entertaining and will be a great way to spend the summer months. The shed has been finished and there is additional storage in the back of the home that is perfect for storing mowers, lawn and garden items, or bikes. Be sure to setup your showing today.

6. 2023-01-07
   price $224,900 618-char remark

   Show marketing remark (618 chars)

   Are you looking for a spacious home in New Haven? This 5 bedroom home has tons of space, a large lot, and is on a quiet street. There are brick accent walls, spacious rooms, a galley style kitchen, wood burning fireplace, and much more! The upstairs features two HUGE bedrooms with great closest space and a full bath. The large deck in the backyard is perfect for entertaining and will be a great way to spend the summer months. The shed has been finished and there is additional storage in the back of the home that is perfect for storing mowers, lawn and garden items, or bikes. Be sure to setup your showing today.

7. 2022-12-31
   listed $229,900 Active 618-char remark

   Show marketing remark (618 chars)

   Are you looking for a spacious home in New Haven? This 5 bedroom home has tons of space, a large lot, and is on a quiet street. There are brick accent walls, spacious rooms, a galley style kitchen, wood burning fireplace, and much more! The upstairs features two HUGE bedrooms with great closest space and a full bath. The large deck in the backyard is perfect for entertaining and will be a great way to spend the summer months. The shed has been finished and there is additional storage in the back of the home that is perfect for storing mowers, lawn and garden items, or bikes. Be sure to setup your showing today.

8. 2017-11-06
   soldstatus $130,000 825-char remark

   Show marketing remark (825 chars)

   What a fantastic spacious home! From the awesome front porch to the beautiful brick accent wall that welcomes you into the living room. Dinning Room is a nice size for a big table. 2 Bedrooms on the main floor, along with a full and half bath and a den that could be a 5th bedroom. Galley style Kitchen peeks into the family room, with a lovely brick wood burning fireplace and a staircase inviting you up to the 2nd floor. Where you will find 2 HUGE bedrooms with great closets and another big full bath. Outside is relaxing with beautiful landscaping and a nice sized deck great for entertaining, and a shed that has been finished including heat, a/c, and power. There also is a 7x13 attached storage room great for storing your mower, bikes, and other items. This home has SO MUCH TO OFFER. Come check it out for yourself.

9. 2017-09-05
   listed $139,900 825-char remark

   Show marketing remark (825 chars)

   What a fantastic spacious home! From the awesome front porch to the beautiful brick accent wall that welcomes you into the living room. Dinning Room is a nice size for a big table. 2 Bedrooms on the main floor, along with a full and half bath and a den that could be a 5th bedroom. Galley style Kitchen peeks into the family room, with a lovely brick wood burning fireplace and a staircase inviting you up to the 2nd floor. Where you will find 2 HUGE bedrooms with great closets and another big full bath. Outside is relaxing with beautiful landscaping and a nice sized deck great for entertaining, and a shed that has been finished including heat, a/c, and power. There also is a 7x13 attached storage room great for storing your mower, bikes, and other items. This home has SO MUCH TO OFFER. Come check it out for yourself.

ⓘ 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: $2,717 · $226/mo
• Projected year-2 tax: $2,717 · $226/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: $27,310
• − Mortgage interest: −$11,427
• − Property taxes: −$2,717
• − Insurance: −$1,020
• − Repairs & maintenance: −$2,185
• − Management: −$2,185
• − Depreciation: −$5,935
• Taxable income: $1,842
• Est. tax owed @ 24.0%: −$442
• After-tax cash flow: $4,559/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

+45.8% since first listed

9 events — show timeline

• 2026-04-16 Pending — IRMLS
• 2026-03-17 Price Changed $204,000 IRMLS
• 2026-01-30 Listed $226,000 IRMLS
• 2023-02-13 Sold (MLS) $227,500 IRMLS
• 2023-01-11 Pending — IRMLS
• 2023-01-07 Price Changed $224,900 IRMLS
• 2022-12-31 Listed $229,900 IRMLS
• 2017-11-06 Sold (MLS) $130,000 IRMLS
• 2017-09-05 Listed $139,900 IRMLS

Property tax history

+4.5%/yr

Latest (2024): $2,717 · +27.1% YoY. Source: county tax records.