3913 Chapel Ln · New Albany, IN 47150

$100,000

3 bd · 1.5 ba · 1,056 sqft · SingleFamily public records · 1 Days on market

Built 1960 0.43 ac lot Est $200k · 50% 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 +30.0/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +8.8/10.0
• 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

Investor & flipper alert! Solid 3BR/1BA brick ranch on a private, tree-lined ~0.4-acre lot in New Albany, IN. Approx. 1,100 sq ft of single-level living with great bones and instant equity potential. Eat-in kitchen, full bath, and a wooded backyard with fire pit. Minutes to downtown and the Louisville metro. Sold AS-IS and priced to move — bring your vision and your contractor. This blank canvas won't last!

Key facts

• Wooded backyard
• Fire pit
• Eat-in kitchen

Tags

• PRIVATE TREE-LINED LOT
• WOODED BACKYARD
• FIRE PIT
• EAT-IN KITCHEN
• SINGLE-LEVEL LIVING

Property features AI

Exterior

• Parking: No garage
• Utilities: Public water connected; Septic tank sewer
• Home design: Single-story home
• Construction: Block foundation; Shingle roof; Resale property
• Exterior features: Secluded lot; Shed(s) on the property; Paved road access

Interior

• Kitchen: Eat-in kitchen on the first floor
• Bedrooms: Three bedrooms on the first floor (approx. 11 x 12, 8 x 11, and 8 x 11)
• Flooring: Vinyl flooring in living room and kitchen; Carpet in family room, dining room, and bedrooms
• Bathrooms: One full bathroom
• Interior features: Eat-in kitchen; Open floorplan
• Laundry & utility: Laundry located on the main level

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $100k.

Deal economics

• At list price, monthly cash flow is $478 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $100k).
• Cap rate 12.0% 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; 2 comparable units currently listed for rent nearby; 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 $691 of loan paydown is wiped out by about $3k 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 $28k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.

Recommended offer $100,000

Questions for the listing agent

1. Built in 1960 — 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: 1.38% ✓
• Cap rate: 12.03%
• Cash-on-cash: 20.50%
• DSCR: 1.91
• GRM: 6.0

CMA / ARV

• ARV (on-the-fly): $199,584
• Comps found: 5

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
4203 Treesdale Dr	0.47mi	3/2.0	1,194 (+13%)	2mo	$235,000	$197	52
4218 Glenbrook W	0.69mi	3/2.0	1,061 (+0%)	23mo	$212,900	$201	46
4216 Glenbrook E	0.66mi	3/1.5	1,114 (+6%)	22mo	$174,900	$157	42
4201 Treesdale Dr	0.48mi	2/2.0 (-1)	1,194 (+13%)	11mo	$197,000	$165	40
4203 Glenbrook E	0.73mi	3/2.0	1,161 (+10%)	22mo	$219,000	$189	29

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: 17.2%
• Equity multiple: 1.73×
• Total profit: $20,392
• Equity at exit: $14,910

10-year hold

• IRR: 28.4%
• Equity multiple: 4.02×
• Total profit: $84,449
• Equity at exit: $8,646

Cash invested: $28,000 (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: 6.0×

Monthly cashflow live

• Estimated rent: $1,384 medium
• Mortgage (P&I): −$524
• Tax from tax record: −$49 /mo · $583/yr
• Insurance: −$42
• HOA: −$0
• Vacancy / Maint / Mgmt: −$291
• Net cashflow: $478

Break-even live

Break-even rent $778

Max offer price $100,000

Occupancy floor 60%

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: $25,000
• Closing costs: $3,000
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4229 Mel Smith Rd New Albany, IN	2.0	2.0	1175	$1,198	$1.02	1d	2	1.00mi
4719 Grant Line Rd New Albany, IN	2.0	2.0	971	$1,260	$1.30	1d	21	1.42mi

Listing history 2 events

1. 2026-06-10
   remarks 412-char remark
2. 2026-06-10
   listed $100,000 Active 1 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: $583 · $49/mo
• Projected year-2 tax: $716 · $60/mo
• Expected delta: +$134/yr (+$11/mo · 23.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 3/10 Moderate FEMA zone X (unshaded) · 20% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 4/10 Moderate 7 d/yr ≥105°F today · 18 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 2% 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: $16,603
• − Mortgage interest: −$5,602
• − Property taxes: −$583
• − Insurance: −$500
• − Repairs & maintenance: −$1,328
• − Management: −$1,328
• − Depreciation: −$2,909
• Taxable income: $4,353
• Est. tax owed @ 24.0%: −$1,045
• After-tax cash flow: $4,696/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

• 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

1 event — show timeline

• 2026-06-09 Listed $100,000 SIRA

Property tax history

+5.0%/yr

Latest (2025): $583 · -8.0% YoY. Source: county tax records.