1020 Beech St · Connersville, IN 47331

$64,000

2 bd · 1.0 ba · 1,172 sqft · SingleFamily public records · 45 Days on market

Built 1920 8,276 sqft lot Est $116k · 45% 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 +29.0/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +9.1/10.0
• 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

Tenant pays $1200 monthly including utilities

Key facts

• 8,276 sq ft lot
• 2 garage spots
• Built 1920

Property features AI

Exterior

• Parking: Detached garage; Gravel driveway; 2 garage spaces
• Utilities: Public water; Public sewer; Cable available
• Home design: Single-family residence; One story
• Construction: Frame construction
• Exterior features: Level lot

Interior

• Bedrooms: 6 total rooms (includes bedrooms and other living spaces)
• Bathrooms: 1 full bathroom
• Heating & cooling: Central air conditioning; Forced air heating
• Interior features: Electric water heater; Basement

🏷️ Possibly a rental listed for sale. The $64,000 price doesn't fit this home's estimated sale value (~$116,028) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $64k.

Deal economics

• At list price, monthly cash flow is $220 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($900 rent vs $64k).
• Recommended offer: $62k (3.0% below list) — sets the bar for market timing.
• Cap rate 10.4% 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).
• Market conditions: 171 active listings in the ZIP; 1 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 $442 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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $18k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 45 days — a 3% lower offer ($62k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts 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 $41k; list at $64k implies a 56% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $62,080 (3.0% below list)

Questions for the listing agent

1. It's been on market 45 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1920 — 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: 1.41% ✓
• Cap rate: 10.41%
• Cash-on-cash: 14.70%
• DSCR: 1.65
• GRM: 5.9

CMA / ARV

• ARV (on-the-fly): $116,028
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
916 W 10th St	0.07mi	2/2.0	1,100 (-6%)	4mo	$98,000	$89	79
610 W 9th St	0.25mi	3/1.0 (+1)	1,078 (-8%)	1mo	$31,000	$29	69
803 Mulberry St	0.30mi	3/1.0 (+1)	1,303 (+11%)	6mo	$39,000	$30	58
1317 W 6th St	0.41mi	3/2.0 (+1)	1,092 (-7%)	6mo	$170,000	$156	56
121 10th St	0.72mi	1/1.5 (-1)	1,216 (+4%)	1mo	$78,000	$64	52
1328 W 6th St	0.35mi	3/1.0 (+1)	1,300 (+11%)	10mo	$135,000	$104	52
1532 Indian Spgs	0.60mi	3/1.5 (+1)	1,081 (-8%)	1mo	$189,000	$175	51
1423 Memorial Dr	0.34mi	3/2.0 (+1)	1,040 (-11%)	10mo	$145,900	$140	48
1824 Boulevard Pl	0.73mi	2/1.0	1,036 (-12%)	3mo	$103,000	$99	44
640 W 17th St	0.63mi	3/1.5 (+1)	1,032 (-12%)	1mo	$35,000	$34	42
417 W 15th St	0.67mi	2/1.0	1,317 (+12%)	9mo	$60,250	$46	40
1603 Grand Ave	0.75mi	2/1.0	1,023 (-13%)	9mo	$136,000	$133	37

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: 5.3%
• Equity multiple: 1.20×
• Total profit: $3,656
• Equity at exit: $9,543

10-year hold

• IRR: 14.7%
• Equity multiple: 2.19×
• Total profit: $21,367
• Equity at exit: $5,534

Cash invested: $17,920 (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: 171
• Price-to-rent: 5.9×

Monthly cashflow live

• Estimated rent: $900 medium
• Mortgage (P&I): −$336
• Tax from tax record: −$129 /mo · $1,550/yr
• Insurance: −$27
• HOA: −$0
• Vacancy / Maint / Mgmt: −$189
• Net cashflow: $220

Break-even live

Break-even rent $622

Max offer price $64,000

Occupancy floor 71%

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: $16,000
• Closing costs: $1,920
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
309 W 11th St Connersville, IN	2.0	1.0	984	$900	$0.91	24d	1	0.55mi

Listing history 25 events

1. 2026-06-18
   days on market $64,000 Active 45 DOM
2. 2026-06-17
   days on market $64,000 Active 44 DOM
3. 2026-06-16
   days on market $64,000 Active 43 DOM
4. 2026-06-15
   days on market $64,000 Active 42 DOM
5. 2026-06-13
   days on market $64,000 Active 40 DOM
6. 2026-06-12
   days on market $64,000 Active 39 DOM
7. 2026-06-09
   days on market $64,000 Active 36 DOM
8. 2026-06-08
   days on market $64,000 Active 35 DOM
9. 2026-06-07
   days on market $64,000 Active 34 DOM
10. 2026-06-07
    days on market $64,000 Active 33 DOM
11. 2026-06-04
    days on market $64,000 Active 30 DOM
12. 2026-06-02
    days on market $64,000 Active 29 DOM
13. 2026-06-01
    days on market $64,000 Active 28 DOM
14. 2026-05-31
    days on market $64,000 Active 27 DOM
15. 2026-05-31
    days on market $64,000 Active 26 DOM
16. 2026-04-24
    listed $64,000 Active

    Show marketing remark (45 chars)

    Tenant pays $1200 monthly including utilities

17. 2026-04-24
    listed $64,000 Active 45-char remark

    Show marketing remark (45 chars)

    Tenant pays $1200 monthly including utilities

18. 2025-04-29
    soldstatus $41,000 Closed
19. 2025-04-29
    soldstatus $41,000 Closed
20. 2025-04-29
    soldstatus $30,000
21. 2025-03-24
    status Pending
22. 2025-03-24
    status Pending
23. 2025-01-10
    listed $90,000 Active
24. 2025-01-10
    listed $90,000 Active
25. 2011-04-26
    soldstatus $40,000

ⓘ 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: $1,550 · $129/mo
• Projected year-2 tax: $1,550 · $129/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 ≥101°F today · 19 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: $10,800
• − Mortgage interest: −$3,585
• − Property taxes: −$1,550
• − Insurance: −$320
• − Repairs & maintenance: −$864
• − Management: −$864
• − Depreciation: −$1,862
• Taxable income: $1,755
• Est. tax owed @ 24.0%: −$421
• After-tax cash flow: $2,213/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

+60.0% since first listed

10 events — show timeline

• 2026-04-24 Listed $64,000 RRELMS
• 2026-04-24 Listed $64,000 ECIAOR
• 2025-04-29 Sold (Public Records) $30,000 Public Records
• 2025-04-29 Sold (MLS) $41,000 RRELMS
• 2025-04-29 Sold (MLS) $41,000 ECIAOR
• 2025-03-24 Pending — RRELMS
• 2025-03-24 Pending — ECIAOR
• 2025-01-10 Listed $90,000 ECIAOR
• 2025-01-10 Listed $90,000 RRELMS
• 2011-04-26 Sold (Public Records) $40,000 Public Records

Property tax history

+6.9%/yr

Latest (2024): $1,550 · +14.6% YoY. Source: county tax records.