526 Culbertson Ave · New Albany, IN 47150

$74,900

2 bd · 1.0 ba · 882 sqft · SingleFamily public records · 5 Days on market

Built 1929 4,356 sqft lot

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

A Blank Canvas… Literally! ????? Attention visionaries, dreamers, and fans of extreme makeovers—this shotgun house is ready for its glow-up! Completely gutted on the inside, it offers endless possibilities (because, well, there's literally nothing in the way). Want an open-concept layout? Congrats, you already have one! Thinking of adding a loft, gourmet kitchen, or secret speakeasy? The choice is yours! With solid potential and a prime location, this home is perfect for those who love a project (or at least a good story to tell at parties). Whether you're a seasoned renovator or just someone who loves a challenge, this is your chance to bring your vision to life—no pesky walls to slow you down! Come take a look before someone else turns this blank slate into a masterpiece! BYO imagination, hard hat optional. ????

Key facts

• Foundation work done
• Raised roof line
• Wide open floor plan

Tags

• WIDE OPEN FLOOR PLAN
• RAISED ROOF LINE
• FOUNDATION WORK DONE

Property features AI

Finance

• Other: Above-grade finished area approximately 882; Below-grade unfinished area approximately 440

Exterior

• Utilities: Public water connected; Public sewer
• Home design: Single-story home
• Construction: Vinyl siding; Built with a cellar foundation
• Exterior features: Paved road access; Residential zoning

Interior

• Bathrooms: 1 full bathroom
• Interior features: Partial basement; Cellar foundation; Resale condition

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $75k.

Deal economics

• At list price, monthly cash flow is $418 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $75k).
• Cap rate 13.0% 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); 269 active listings in the ZIP; 26 comparable units currently listed for rent nearby; rentals at typical pace (median 20d on market — plan ~3-4 weeks tenant-placement turnaround); 297 units permitted in Floyd County in 2024 (84 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $518 of loan paydown is wiped out by about $2k 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 $21k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• Only 5 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 4y 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 $50k; 50% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1929 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $74,900

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: 1.52% ✓
• Cap rate: 13.00%
• Cash-on-cash: 23.94%
• DSCR: 2.07
• GRM: 5.5

CMA / ARV

• ARV (on-the-fly): $160,524
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
525 E 8th St	0.13mi	2/1.0	826 (-6%)	1mo	$149,900	$181	82
1104 Ekin Ave	0.26mi	2/1.0	841 (-5%)	6mo	$51,000	$61	75
1521 Ekin Ave	0.54mi	2/1.0	896 (+2%)	2mo	$162,000	$181	70
1102 Beeler St	0.29mi	2/1.0	752 (-15%)	1mo	$158,000	$210	61
1314 Chartres St	0.45mi	2/1.0	956 (+8%)	7mo	$68,000	$71	60
226 Green St	0.69mi	2/1.0	898 (+2%)	6mo	$180,000	$200	60
1711 Ekin Ave	0.66mi	2/2.0	900 (+2%)	4mo	$210,000	$233	59
1516 Charlestown Rd	0.70mi	2/1.0	832 (-6%)	3mo	$186,900	$225	56
247 Jackson St	0.70mi	2/1.0	826 (-6%)	2mo	$150,000	$182	55
1108 State St	0.54mi	2/1.0	982 (+11%)	2mo	$52,900	$54	54
330 E 16th St	0.62mi	2/1.0	1,008 (+14%)	5mo	$190,000	$188	43
1313 Vine St	0.70mi	1/1.0 (-1)	1,012 (+15%)	6mo	$114,000	$113	33

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: 21.7%
• Equity multiple: 1.93×
• Total profit: $19,590
• Equity at exit: $11,168

10-year hold

• IRR: 32.4%
• Equity multiple: 4.53×
• Total profit: $74,117
• Equity at exit: $6,476

Cash invested: $20,972 (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: 269
• Price-to-rent: 5.5×

Monthly cashflow live

• Estimated rent: $1,142 high
• Mortgage (P&I): −$393
• Tax from tax record: −$60 /mo · $719/yr
• Insurance: −$31
• HOA: −$0
• Vacancy / Maint / Mgmt: −$240
• Net cashflow: $418

Break-even live

Break-even rent $613

Max offer price $74,900

Occupancy floor 58%

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: $18,725
• Closing costs: $2,247
• Reserves months: —
• Total cash needed: —

Rent comps 26 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
520 Culbertson Ave Unit B New Albany, IN	3.0	2.0	1000	$1,395	$1.40	3d	1	0.05mi
812 Culbertson Ave New Albany, IN	2.0	1.0	1000	$1,095	$1.09	21d	1	0.13mi
901 E Oak St New Albany, IN	3.0	1.0	1100	$1,350	$1.23	23d	1	0.17mi
905 E Elm St New Albany, IN	1.0–2.0	1.0	937	$1,035	$1.10	23d	1	0.21mi
608 E Spring St Unit 2 New Albany, IN	2.0	2.0	1100	$1,195	$1.09	3d	1	0.26mi
608 E Spring St Unit 2 New Albany, IN	2.0	2.0	1100	$1,195	$1.09	23d	1	0.26mi
309 E Spring St Unit 310-106 New Albany, IN	2.0	2.0	1005	$1,250	$1.24	17d	1	0.29mi
309 E Spring St Unit 310-203 New Albany, IN	2.0	2.5	1005	$1,250	$1.24	3d	1	0.29mi
1409 Chartres St Unit 2 New Albany, IN	1.0	1.0	700	$750	$1.07	23d	1	0.45mi
1409 Chartres St Unit 2 New Albany, IN	1.0	1.0	650	$750	$1.15	14d	1	0.45mi
1307 E Market St #2 New Albany, IN	1.0	1.0	804	$975	$1.21	15d	1	0.51mi
1307 E Market St #1 New Albany, IN	2.0	1.0	936	$1,190	$1.27	17d	1	0.51mi
1108 State St New Albany, IN	2.0	1.0	982	$1,150	$1.17	21d	1	0.55mi
1201 Dewey St #3 New Albany, IN	1.0	1.0	700	$775	$1.11	17d	1	0.56mi
121 E 14th St Unit 2 New Albany, IN	1.0	1.0	650	$825	$1.27	20d	1	0.62mi
508 Vincennes St New Albany, IN	1.0	1.0	750	$850	$1.13	23d	1	0.63mi
1637 E Market St New Albany, IN	1.0	1.0	643	$1,066	$1.66	3d	1	0.71mi
1915 Culbertson Ave New Albany, IN	3.0	1.0	1000	$1,450	$1.45	17d	1	0.89mi
1226 Naghel St Unit 2 New Albany, IN	1.0	1.0	600	$725	$1.21	23d	1	0.95mi
1226 Naghel St Unit 2 New Albany, IN	1.0	1.0	650	$725	$1.12	21d	1	0.95mi
1808 Bono Rd New Albany, IN	1.0–2.0	1.0–2.0	1000	$1,035	$1.03	3d	1	0.99mi
1940 Center St Unit 2 New Albany, IN	1.0	1.0	650	$725	$1.12	21d	1	1.02mi
2032 Culbertson Ave Unit 6 New Albany, IN	1.0	1.0	550	$695	$1.26	3d	1	1.06mi
1316 Roosevelt Ave Unit 11 New Albany, IN	2.0	1.5	700	$950	$1.36	23d	1	1.11mi
2121 Culbertson Ave Unit D New Albany, IN	1.0	1.0	650	$750	$1.15	23d	1	1.11mi
2239 Charlestown Rd Apt 104 New Albany, IN	1.0	1.0	842	$1,100	$1.31	14d	1	1.18mi

Listing history 5 events

1. 2026-06-18
   days on market $74,900 Active 5 DOM
2. 2026-06-17
   days on market $74,900 Active 4 DOM
3. 2026-06-16
   days on market $74,900 Active 3 DOM
4. 2026-06-15
   remarks 699-char remark
5. 2026-06-15
   listed $74,900 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: $719 · $60/mo
• Projected year-2 tax: $719 · $60/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 · 20 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: $13,706
• − Mortgage interest: −$4,196
• − Property taxes: −$719
• − Insurance: −$374
• − Repairs & maintenance: −$1,097
• − Management: −$1,097
• − Depreciation: −$2,179
• Taxable income: $4,045
• Est. tax owed @ 24.0%: −$971
• After-tax cash flow: $4,050/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

+24.8% since first listed

11 events — show timeline

• 2026-06-13 Listed $74,900 SIRA
• 2025-04-01 Sold (MLS) $50,000 SIRA
• 2025-03-18 Delisted — SIRA
• 2025-03-17 Listed $65,000 SIRA
• 2022-12-01 Sold (MLS) $51,000 SIRA
• 2022-10-27 Pending — SIRA
• 2022-10-25 Price Changed $56,500 SIRA
• 2022-10-19 Price Changed $57,999 SIRA
• 2022-10-14 Price Changed $58,999 SIRA
• 2022-10-10 Price Changed $59,500 SIRA
• 2022-10-07 Listed $60,000 SIRA

Property tax history

+1.9%/yr

Latest (2025): $719 · +13.2% YoY. Source: county tax records.