715 S Stormont St · Princeton, IN 47670

$99,900

2 bd · 1.0 ba · 968 sqft · SingleFamily public records · 27 Days on market

Built 1902 8,700 sqft lot $103/sqft · 22% below area Est $129k · 22% 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 +26.1/30.0
• ARV discount +15.0/15.0
• DSCR +8.8/10.0
• 1% rule +6.4/10.0
• Livability +3.6/5.0
• Schools +2.7/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Updated and move-in ready, this 2 bedroom, 1 bath home in Princeton offers a strong opportunity for both homeowners and investors. With updated flooring, fresh paint, newer siding, and a refreshed kitchen featuring modern cabinetry and included appliances, much of the heavy lifting has already been done. The layout is functional and easy to live in, with neutral finishes throughout. The bathroom has been updated, and the attic provides great storage space or potential for future use. Outside, you’ll find a spacious backyard, detached garage, and off-street parking available in both the front and back, adding convenience and flexibility. Whether you’re looking for a primary residence or a rental with minimal upfront work, this property is positioned for a quick move-in or immediate income potential. Located in Princeton, Indiana with easy access to local amenities and a small-town setting buyers love.

Key facts

• Fresh paint
• Modern cabinetry
• Newer siding

Tags

• UPDATED FLOORING
• FRESH PAINT
• NEWER SIDING
• REFRESHED KITCHEN
• MODERN CABINETRY
• INCLUDED APPLIANCES

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $100k.

Deal economics

• At list price, monthly cash flow is $251 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $100k).
• Recommended offer: $98k (1.5% below list) — sets the bar for market timing.
• Cap rate 9.3% vs local median 4.6% in Princeton — 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 71/100 on livability (#131 in IN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: employment C-, schools D, amenities F.
• North Gibson School Corporation (rural): math 28% / reading 36% proficiency, ranked #223 of 301 in IN (top 74%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 138 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; 167 units permitted in Gibson County in 2024 (68 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $691 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Gibson County population projected to shrink 10% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.

Negotiation context

• It's been on market 27 days — a 2% lower offer ($98k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 8y 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 $18k; list at $100k implies a 471% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1902 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $98,401 (1.5% below list)

Questions for the listing agent

1. Built in 1902 — 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: 1.14% ✓
• Cap rate: 9.31%
• Cash-on-cash: 10.79%
• DSCR: 1.48
• GRM: 7.3

CMA / ARV

• ARV (median comp): $128,660
• List price: $99,900
• Delta: -22.35%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
805 S Stormont St	0.05mi	2/2.0	968 (0%)	0mo	$131,000	$135	94
403 E Illinois St	0.14mi	3/1.5 (+1)	960 (-1%)	2mo	$167,900	$175	83
820 S Stormont St	0.07mi	2/1.0	1,045 (+8%)	2mo	$113,000	$108	82
613 S Prince St	0.28mi	2/1.0	1,000 (+3%)	5mo	$79,600	$80	78
730 S Stormont St	0.03mi	2/1.0	828 (-14%)	1mo	$53,500	$65	74
121 W Mulberry St	0.37mi	2/1.0	928 (-4%)	3mo	$154,500	$166	73
123 S Race St	0.44mi	2/1.0	956 (-1%)	11mo	$152,000	$159	68
915 S Hall St	0.58mi	2/1.0	875 (-10%)	1mo	$175,000	$200	56
408 E Water St	0.42mi	2/1.0	1,076 (+11%)	7mo	$65,000	$60	56
906 E State St	0.63mi	2/1.0	1,102 (+14%)	0mo	$60,000	$54	47
1313 S Baldwin Ct	0.65mi	3/2.0 (+1)	1,081 (+12%)	2mo	$224,900	$208	40
417 E Walnut St	0.73mi	3/2.0 (+1)	1,080 (+12%)	4mo	$190,000	$176	34

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: -0.2%
• Equity multiple: 0.99×
• Total profit: $-186
• Equity at exit: $14,895

10-year hold

• IRR: 9.5%
• Equity multiple: 1.73×
• Total profit: $20,417
• Equity at exit: $8,638

Cash invested: $27,972 (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 47670

• Home prices YoY: -32.2%
• Active inventory: 138
• Price-to-rent: 7.3×

Monthly cashflow live

• Estimated rent: $1,137 medium
• Mortgage (P&I): −$524
• Tax from tax record: −$81 /mo · $974/yr
• Insurance: −$42
• HOA: −$0
• Vacancy / Maint / Mgmt: −$239
• Net cashflow: $251

Break-even live

Break-even rent $819

Max offer price $99,900

Occupancy floor 73%

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: $24,975
• Closing costs: $2,997
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
318 S Gibson St Unit A Princeton, IN	1.0	1.0	750	$795	$1.06	43d	1	0.35mi
102 N Seminary St Princeton, IN	2.0	1.0	884	$995	$1.13	43d	1	0.52mi
220 W Garfield Ave Princeton, IN	2.0	1.0	1000	$1,700	$1.70	43d	2	0.56mi
629 S Second Ave Princeton, IN	1.0–3.0	1.0–2.0	1001	$1,188	$1.19	43d	29	1.46mi

Listing history 9 events

1. 2026-05-19
   status Pending 925-char remark

   Show marketing remark (925 chars)

   Updated and move-in ready, this 2 bedroom, 1 bath home in Princeton offers a strong opportunity for both homeowners and investors. With updated flooring, fresh paint, newer siding, and a refreshed kitchen featuring modern cabinetry and included appliances, much of the heavy lifting has already been done. The layout is functional and easy to live in, with neutral finishes throughout. The bathroom has been updated, and the attic provides great storage space or potential for future use. Outside, you’ll find a spacious backyard, detached garage, and off-street parking available in both the front and back, adding convenience and flexibility. Whether you’re looking for a primary residence or a rental with minimal upfront work, this property is positioned for a quick move-in or immediate income potential. Located in Princeton, Indiana with easy access to local amenities and a small-town setting buyers love.

2. 2026-05-08
   price $99,900 925-char remark

   Show marketing remark (925 chars)

   Updated and move-in ready, this 2 bedroom, 1 bath home in Princeton offers a strong opportunity for both homeowners and investors. With updated flooring, fresh paint, newer siding, and a refreshed kitchen featuring modern cabinetry and included appliances, much of the heavy lifting has already been done. The layout is functional and easy to live in, with neutral finishes throughout. The bathroom has been updated, and the attic provides great storage space or potential for future use. Outside, you’ll find a spacious backyard, detached garage, and off-street parking available in both the front and back, adding convenience and flexibility. Whether you’re looking for a primary residence or a rental with minimal upfront work, this property is positioned for a quick move-in or immediate income potential. Located in Princeton, Indiana with easy access to local amenities and a small-town setting buyers love.

3. 2026-04-21
   listed $105,000 Active 925-char remark

   Show marketing remark (925 chars)

   Updated and move-in ready, this 2 bedroom, 1 bath home in Princeton offers a strong opportunity for both homeowners and investors. With updated flooring, fresh paint, newer siding, and a refreshed kitchen featuring modern cabinetry and included appliances, much of the heavy lifting has already been done. The layout is functional and easy to live in, with neutral finishes throughout. The bathroom has been updated, and the attic provides great storage space or potential for future use. Outside, you’ll find a spacious backyard, detached garage, and off-street parking available in both the front and back, adding convenience and flexibility. Whether you’re looking for a primary residence or a rental with minimal upfront work, this property is positioned for a quick move-in or immediate income potential. Located in Princeton, Indiana with easy access to local amenities and a small-town setting buyers love.

4. 2018-07-27
   soldstatus $17,500
5. 2018-07-13
   soldstatus $17,500 141-char remark

   Show marketing remark (141 chars)

   This is a 2 bedroom, 1 bath home with a metal roof. Home comes with a decent sized backyard and a 1 car detached garage. Home needs some TLC.

6. 2018-05-02
   listed $19,500 141-char remark

   Show marketing remark (141 chars)

   This is a 2 bedroom, 1 bath home with a metal roof. Home comes with a decent sized backyard and a 1 car detached garage. Home needs some TLC.

7. 2016-05-16
   soldstatus $30,000
8. 2011-06-03
   soldstatus $29,000
9. 2009-07-21
   soldstatus $29,000

ⓘ 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: $974 · $81/mo
• Projected year-2 tax: $974 · $81/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 4/10 Moderate FEMA zone X (unshaded) · 22% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 5/10 Major 7 d/yr ≥106°F today · 19 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 3% 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: $13,642
• − Mortgage interest: −$5,596
• − Property taxes: −$974
• − Insurance: −$500
• − Repairs & maintenance: −$1,091
• − Management: −$1,091
• − Depreciation: −$2,906
• Taxable income: $1,483
• Est. tax owed @ 24.0%: −$356
• After-tax cash flow: $2,661/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: North Gibson School Corporation
• NCES district ID: 1807770
• Math proficiency: 28% ▼ -10.00%
• Reading proficiency: 36% ▼ -4.00%
• Median HH income: $44,595
• Composite: 27.32/100
• National rank: #6992
• State rank: #223 of 301 in IN

Livability — Princeton

• Score: 71/100
• State rank: #131
• US rank: #6840

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Princeton, IN
• Population (ZIP): 11,638

Population outlook (Gibson County) Hauer SSP2

• Today (2025): 33,671 people
• By 2030: 33,409 · -0.8%
• By 2040: 32,364 · -3.9%
• By 2050: 30,453 · -9.6%
• By 2075: 24,610 · -26.9%
• By 2100: 16,217 · -51.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (85%)
• Race & ethnicity: White 85% Black 5% Hispanic / Latino 4% Two or more races 4%
• Common ancestry: Lithuanian 2% Slovak 2% Serbian 1%
• Foreign-born: 3% · Canada
• Languages at home: 95% English-only · Spanish 3% Other Asian/Pacific 1%

Political lean MEDSL · Gibson

• 2024 margin: Solid R (+51.4) · D 23.4% · R 74.8% · Other 1.8%
• 2008→2024 swing: -38.2pp toward R · 2008: -13.2pp · 2024: -51.4pp
• All cycles: 2024: R+51.4 2020: R+48.2 2016: R+47.6 2012: R+31.0 2008: R+13.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -104.47%
• Current HPI: 219.932
• 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

+244.5% since first listed

9 events — show timeline

• 2026-05-19 Pending — IRMLS
• 2026-05-08 Price Changed $99,900 IRMLS
• 2026-04-21 Listed $105,000 IRMLS
• 2018-07-27 Sold (Public Records) $17,500 Public Records
• 2018-07-13 Sold (MLS) $17,500 IRMLS
• 2018-05-02 Listed $19,500 IRMLS
• 2016-05-16 Sold (Public Records) $30,000 Public Records
• 2011-06-03 Sold (Public Records) $29,000 Public Records
• 2009-07-21 Sold (Public Records) $29,000 Public Records

Property tax history

+12.7%/yr

Latest (2024): $974 · +8.7% YoY. Source: county tax records.