310 E 14th St · New Albany, IN 47150

$169,900

4 bd · 2.0 ba · 1,480 sqft · Townhouse public records · 17 Days on market

Built 1929 1,742 sqft lot Est $203k · 16% 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 +18.0/30.0
• ARV discount +14.8/15.0
• DSCR +5.6/10.0
• 1% rule +4.8/10.0
• Rent growth +4.3/5.0
• Schools +4.2/10.0
• Livability +3.7/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

DUPLEX: UNIT #1; RENTS FOR $500 PER MONTH AND $500.00 DEPOSIT IN ESCROW. DOWNSTAIRS IS CURRENTLY ON A ONE YEAR LEASE WITH EXPIRATION DATE OF 12/31/2020. DOWNSTAIRS UNIT HAS PARTIAL BASEMENT WHERE GAS FURNACE & GAS WATER HEAT ARE LOCATED. TENANT PAYS ELECTRIC & GAS, EACH UNIT HAS ELECTRIC RANG/OVEN AND REFRIGERATOR. UNIT #2; RENTS FOR $550. PER MONTH WITH $550 SECURITY DEPOSIT IN ESCROW. UPSTAIRS UNIT IS CURRENTLY ON MONTH TO MONTH LEASE. LANDLORD PAYS WATER, SEWER, TRASH & MOWING. EACH UNIT IS INDIVIDUALLY METERED FOR ELECTRIC GAS METER IS SHARED AND THE TENANTS SPLIT THE GAS BILL. THERE IS A TOTAL OF 3 AC WINDOW UNITS, 2 FOR UPSTAIRS AND ONE FOR DOWNSTAIRS. NO OFF STREET PARKING. RECENT UPDATES INCLUDE NEW WINDOWS THROUGH OUT BLDG, NEW WATER HEATER 2014. Sq ft & rm sz approx. A 24 NOTICE MUST BE GIVEN TO BE ABLE TO SHOW UNITS.

Key facts

• Great location
• Large kitchen
• Washer dryer hookups

Tags

• GREAT LOCATION
• NEW ROOF
• LVP FLOORING
• LIGHTING CEILING FANS
• WASHER DRYER HOOKUPS
• LARGE KITCHEN

Property features AI

Exterior

• Utilities: Public water connection; Public sewer
• Home design: Multi-family property; Two-story building; Resale condition
• Construction: Aluminum siding and frame construction
• Exterior features: Covered porch

Interior

• Kitchen: Oven; Range; Refrigerator
• Bedrooms: Second-floor bedroom (wood flooring, approx. 9.5 x 10.5); First-floor bedroom (carpeted, approx. 11 x 15)
• Flooring: Wood flooring in upstairs living spaces and bedroom; Carpet in first-floor bedroom and living room
• Bathrooms: Two full bathrooms (one on second floor, one on first floor)
• Heating & cooling: Forced-air heating; Window/wall air-conditioning units
• Interior features: Ceiling fan(s); Crawl space basement; Partial, unfinished basement with sump pump
• Laundry & utility: Laundry on upper level

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath townhouse listed at $170k.

Deal economics

• At list price, monthly cash flow is $145 ($2k/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 $166k (2.0% below list).
• Recommended offer: $166k (2.0% below list) — sets the bar for 1% rule.
• Cap rate 7.3% vs local median 3.8% in New Albany — 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 73/100 on livability (#100 in IN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety B; Watch: commute C-, employment D+, schools D.
• New Albany-Floyd County Consolidated Schools (suburban): math 46% / reading 50% proficiency, ranked #68 of 301 in IN (top 23%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising fast (+7.2%/yr); 278 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals at typical pace (median 19d on market — plan ~3-4 weeks tenant-placement turnaround); 297 units permitted in Floyd County in 2024 (84 in 5+ unit buildings).
• This rent runs 32% of the median local income ($63k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• Floyd County population projected at +10% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (-3.0% appreciation + 7.2% rent growth), your $48k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 17 days — a 2% lower offer ($167k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 6y 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 $110k; list at $170k implies a 55% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1929 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $166,475 (2.0% below list)

Questions for the listing agent

1. Built in 1929 — 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. 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.
5. 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.
6. 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: 0.98% ✗
• Cap rate: 7.32%
• Cash-on-cash: 3.67%
• DSCR: 1.16
• GRM: 8.5

CMA / ARV

• ARV (on-the-fly): $202,760
• Comps found: 3

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
818 E Main St	0.35mi	3/2.5 (-1)	1,539 (+4%)	7mo	$210,000	$136	64
818 E Main St #1	0.35mi	3/2.0 (-1)	1,550 (+5%)	17mo	$213,000	$137	56
818 E Main St #4	0.35mi	3/2.0 (-1)	1,580 (+7%)	14mo	$225,000	$142	56

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 · 7.24% rent growth · sell at horizon

5-year hold

• IRR: -5.9%
• Equity multiple: 0.77×
• Total profit: $-10,847
• Equity at exit: $25,333

10-year hold

• IRR: 8.3%
• Equity multiple: 1.75×
• Total profit: $35,733
• Equity at exit: $14,690

Cash invested: $47,572 (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 47150

• Rents YoY: 7.2%
• Active inventory: 278
• Price-to-rent: 8.5×

Monthly cashflow live

• Estimated rent: $1,665 high
• Mortgage (P&I): −$891
• Tax from tax record: −$208 /mo · $2,497/yr
• Insurance: −$71
• HOA: −$0
• Vacancy / Maint / Mgmt: −$350
• Net cashflow: $145

Break-even live

Break-even rent $1,481

Max offer price $169,900

Occupancy floor 86%

Sensitivity live

Price	-10% $242	-5% $193	+0% $145	+5% $97	+10% $49
Rent	-10% $14	-5% $80	+0% $145	+5% $211	+10% $277
Rate	-1.0pp $231	-0.5pp $189	base $145	+0.5pp $101	+1.0pp $57

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: $42,475
• Closing costs: $5,097
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
901 E Oak St New Albany, IN	3.0	1.0	1100	$1,350	$1.23	25d	1	0.38mi
807 E Main St New Albany, IN	3.0	2.0	1500	$1,650	$1.10	21d	1	0.42mi
621 Thomas St New Albany, IN	3.0	2.5	1510	$2,300	$1.52	18d	1	0.52mi
520 Culbertson Ave Unit B New Albany, IN	3.0	2.0	1000	$1,395	$1.40	4d	1	0.58mi
1915 Culbertson Ave New Albany, IN	3.0	1.0	1000	$1,450	$1.45	18d	1	0.59mi
652 N 29th St Louisville, KY	3.0	1.0	1127	$1,350	$1.20	18d	1	1.32mi
2906 Montgomery St Unit B Louisville, KY	3.0	1.0	1152	$1,060	$0.92	25d	1	1.34mi
522 N 29th St Louisville, KY	3.0	1.0	1031	$1,300	$1.26	4d	1	1.46mi

Listing history 10 events

1. 2026-06-15
   days on market $169,900 Active 17 DOM
2. 2026-06-13
   days on market $169,900 Active 15 DOM
3. 2026-06-10
   days on market $169,900 Active 12 DOM
4. 2026-06-09
   days on market $169,900 Active 11 DOM
5. 2026-06-08
   days on market $169,900 Active 10 DOM
6. 2026-06-07
   days on market $169,900 Active 9 DOM
7. 2026-06-03
   days on market $169,900 Active 5 DOM
8. 2026-06-02
   days on market $169,900 Active 4 DOM
9. 2026-06-01
   days on market $169,900 Active 3 DOM
10. 2026-05-31
    days on market $169,900 Active 2 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: $2,497 · $208/mo
• Projected year-2 tax: $2,497 · $208/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 5/10 Major 7 d/yr ≥106°F today · 21 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: $19,977
• − Mortgage interest: −$9,517
• − Property taxes: −$2,497
• − Insurance: −$850
• − Repairs & maintenance: −$1,598
• − Management: −$1,598
• − Depreciation: −$4,943
• Taxable loss: −$1,025
• Est. tax savings @ 24.0%: +$246
• After-tax cash flow: $1,990/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 Albany-Floyd County Consolidated Schools
• NCES district ID: 1807410
• Math proficiency: 46% ▼ -4.00%
• Reading proficiency: 50% ▼ -3.00%
• Median HH income: $54,709
• Composite: 41.57/100
• National rank: #3441
• State rank: #68 of 301 in IN

Livability — New Albany

• Score: 73/100
• State rank: #100
• US rank: #5454

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: New Albany, IN
• County: Floyd County · 49,144 people
• City population: 49,144
• Metro: Louisville/Jefferson County, KY-IN
• Population (ZIP): 49,144
• Household income: $62,820
• Rent vs Own: 37.7% rent · 62.3% own
• Severe rent burden: 1737.0

Population outlook (Floyd County) Hauer SSP2

• Today (2025): 82,092 people
• By 2030: 84,384 · +2.8%
• By 2040: 87,919 · +7.1%
• By 2050: 89,958 · +9.6%
• By 2075: 94,159 · +14.7%
• By 2100: 91,907 · +12.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (82%)
• Race & ethnicity: White 82% Black 8% Two or more races 6% Hispanic / Latino 5% Asian 1%
• Common ancestry: Italian 3% Slovak 2% Lithuanian 2%
• Foreign-born: 3% · Canada
• Languages at home: 96% English-only · Spanish 2% Other Asian/Pacific 1%

Political lean MEDSL · Floyd

• 2024 margin: R (+15.5) · D 41.4% · R 56.9% · Other 1.7%
• 2008→2024 swing: -5.4pp toward R · 2008: -10.1pp · 2024: -15.5pp
• All cycles: 2024: R+15.5 2020: R+14.1 2016: R+20.1 2012: R+14.3 2008: R+10.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -185.20%
• Current HPI: 206.7738
• Rent YoY: ▲ 7.24%
• Metro: Louisville/Jefferson County, KY-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

+54.6% since first listed

6 events — show timeline

• 2026-05-29 Listed $169,900 SIRA
• 2024-03-28 Rental Removed $750 APPFOLIO
• 2024-03-14 Listed for Rent $750 APPFOLIO
• 2022-06-25 Price Changed $700 RENT.
• 2020-03-05 Sold (MLS) $109,900 SIRA
• 2020-01-26 Listed $109,900 SIRA

Property tax history

+5.2%/yr

Latest (2025): $2,497 · +15.1% YoY. Source: county tax records.