219 W Garden St · Fortville, IN 46040

$240,000

3 bd · 1.0 ba · 2,220 sqft · SingleFamily public records · 34 Days on market

Built 1890 0.58 ac lot Est $337k · 29% 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 +22.5/30.0
• ARV discount +15.0/15.0
• DSCR +7.2/10.0
• 1% rule +5.2/10.0
• Schools +4.1/10.0
• Livability +3.5/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Wonderful Investment Opportunity in Fortville...! Bring your Investor / Rehab Clients for this 3-Bedroom, 1-Full Bath, 2-Story Home on a Half-Acre conveniently located to downtown Fortville; Property to be Sold As-Is as Seller Will Not be making Any Repairs

Key facts

• 0.58 acre lot
• Garage
• Built 1890

Property features AI

Finance

• Other: Approximately 0.58-acre lot with mature trees; Not in a subdivision

Exterior

• Parking: Attached garage (1 car)
• Utilities: Public water; Municipal sewer connected; Natural gas connected; Cable available
• Home design: Single-family residence; Two levels; South-facing
• Construction: Vinyl siding; Block foundation
• Exterior features: Covered patio

Interior

• Kitchen: Eat-in kitchen; Gas oven; Range hood; Dishwasher; Refrigerator
• Bedrooms: Three bedrooms total — one on the main level and two on the upper level; Main bedroom approx. 13 x 10; Upper bedroom approx. 12 x 12; Upper bedroom approx. 8 x 23
• Flooring: Hardwood floors
• Bathrooms: One full bathroom with tub and shower
• Heating & cooling: Forced air heating (natural gas); Window air conditioning units
• Interior features: Attic access; Vaulted ceilings; Hardwood floors; Eat-in kitchen; Painted woodwork; Utility room
• Laundry & utility: Main-level laundry with sink; Washer; Dryer; Electric water heater

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $240k.

Deal economics

• At list price, monthly cash flow is $404 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $240k).
• Recommended offer: $233k (3.0% below list) — sets the bar for market timing.
• Cap rate 8.3% vs local median 4.2% in Fortville — 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 69/100 on livability (#189 in IN) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F, health & safety F.
• Mt Vernon Community School Corporation (rural): math 43% / reading 48% proficiency, ranked #70 of 301 in IN (top 23%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; only 18% free/reduced lunch — higher-income household profile.
• Zoned schools: Mt Vernon High School (math 41% / reading 71%, grade C, #73 of 369 statewide, top 20%, 1,431 students, 27% FRL).
• Market conditions: 303 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals leasing fast (median 3d on market — plan ~1-2 weeks tenant-placement turnaround); 1,091 units permitted in Hancock County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.
• Hancock County population projected at +7% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• It's been on market 34 days — a 3% lower offer ($233k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 14y 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 $135k; list at $240k implies a 78% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1890 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $232,800 (3.0% below list)

Questions for the listing agent

1. It's been on market 34 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 1890 — 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. 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: 1.02% ✓
• Cap rate: 8.31%
• Cash-on-cash: 7.21%
• DSCR: 1.32
• GRM: 8.2

CMA / ARV

• ARV (on-the-fly): $337,440
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
117 N Leland St	0.46mi	3/1.0	2,281 (+3%)	9mo	$180,000	$79	67
109 Saundra Dr	0.28mi	4/2.5 (+1)	2,259 (+2%)	22mo	$409,670	$181	55
512 N Main St	0.60mi	3/3.0	2,363 (+6%)	2mo	$320,000	$135	52
301 E Ohio St	0.51mi	4/2.0 (+1)	1,968 (-11%)	2mo	$300,000	$152	46
401 Thomas Point Dr	0.43mi	4/2.5 (+1)	2,390 (+8%)	14mo	$380,000	$159	45
207 E Ohio St	0.50mi	3/3.0	2,024 (-9%)	11mo	$315,000	$156	45
453 Illinois St	0.74mi	2/1.0 (-1)	2,088 (-6%)	12mo	$226,005	$108	41
577 W Ohio St	0.66mi	4/2.5 (+1)	2,255 (+2%)	20mo	$355,000	$157	39
633 W Ohio St	0.69mi	4/2.5 (+1)	2,255 (+2%)	19mo	$339,995	$151	38
705 Breakers Ln	0.58mi	3/2.5	2,480 (+12%)	15mo	$229,900	$93	35
210 E Michigan St	0.53mi	3/1.5	1,920 (-14%)	22mo	$325,000	$169	32
605 W Ohio St	0.67mi	4/3.0 (+1)	2,329 (+5%)	19mo	$339,000	$146	31

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: 0.80×
• Total profit: $-13,235
• Equity at exit: $35,785

10-year hold

• IRR: 4.4%
• Equity multiple: 1.32×
• Total profit: $21,383
• Equity at exit: $20,751

Cash invested: $67,200 (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 46040

• Home prices YoY: -24.4%
• Active inventory: 303
• Price-to-rent: 8.2×

Monthly cashflow live

• Estimated rent: $2,440 high
• Mortgage (P&I): −$1,259
• Tax from tax record: −$166 /mo · $1,988/yr
• Insurance: −$100
• HOA: −$0
• Vacancy / Maint / Mgmt: −$512
• Net cashflow: $404

Break-even live

Break-even rent $1,929

Max offer price $240,000

Occupancy floor 78%

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: $60,000
• Closing costs: $7,200
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
405 Thomas Point Dr Fortville, IN	4.0	2.5	2132	$2,995	$1.40	23d	1	0.45mi
412 N Merrill St Fortville, IN	3.0	3.0	2560	$2,250	$0.88	2d	1	0.63mi
650 N Main St Fortville, IN	1.0–3.0	2.0	1189	$1,939	$1.63	1d	4	0.72mi
542 Jefferson St Fortville, IN	4.0	3.0	2329	$2,200	$0.94	1d	1	0.90mi
570 Jefferson St Fortville, IN	4.0	3.5	2255	$2,299	$1.02	3d	1	0.91mi
1670 Crossley St Fortville, IN	4.0	2.5	2386	$2,600	$1.09	23d	1	1.40mi
1435 Hardin St Unit 1 Fortville, IN	3.0	2.0	1530	$1,900	$1.24	17d	1	1.46mi

Listing history 20 events

1. 2026-06-13
   statusdays on market $240,000 Pending 34 DOM
2. 2026-06-09
   days on market $240,000 Active 33 DOM
3. 2026-06-08
   days on market $240,000 Active 32 DOM
4. 2026-06-07
   days on market $240,000 Active 31 DOM
5. 2026-06-05
   days on market $240,000 Active 28 DOM
6. 2026-06-03
   days on market $240,000 Active 27 DOM
7. 2026-06-02
   days on market $240,000 Active 26 DOM
8. 2026-06-02
   price $240,000 Active 25 DOM
9. 2026-06-01
   days on market $250,000 Active 25 DOM
10. 2026-05-31
    days on market $250,000 Active 24 DOM
11. 2026-05-07
    listed $250,000 Active
12. 2026-03-07
    historical
13. 2025-12-18
    price $270,000
14. 2025-12-06
    listed $289,900 Active
15. 2021-09-24
    soldstatus $135,000 Closed 257-char remark

    Show marketing remark (257 chars)

    Wonderful Investment Opportunity in Fortville...! Bring your Investor / Rehab Clients for this 3-Bedroom, 1-Full Bath, 2-Story Home on a Half-Acre conveniently located to downtown Fortville; Property to be Sold As-Is as Seller Will Not be making Any Repairs

16. 2021-08-20
    status Pending 257-char remark

    Show marketing remark (257 chars)

    Wonderful Investment Opportunity in Fortville...! Bring your Investor / Rehab Clients for this 3-Bedroom, 1-Full Bath, 2-Story Home on a Half-Acre conveniently located to downtown Fortville; Property to be Sold As-Is as Seller Will Not be making Any Repairs

17. 2021-08-19
    listed $139,900 Active 257-char remark

    Show marketing remark (257 chars)

    Wonderful Investment Opportunity in Fortville...! Bring your Investor / Rehab Clients for this 3-Bedroom, 1-Full Bath, 2-Story Home on a Half-Acre conveniently located to downtown Fortville; Property to be Sold As-Is as Seller Will Not be making Any Repairs

18. 2013-06-17
    historical
19. 2013-06-07
    soldstatus $68,000
20. 2012-11-06
    listed $69,900

ⓘ 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: $1,988 · $166/mo
• Projected year-2 tax: $2,014 · $168/mo
• Expected delta: +$26/yr (+$2/mo · 1.3%)

ⓘ 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 · 18 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: $29,283
• − Mortgage interest: −$13,444
• − Property taxes: −$1,988
• − Insurance: −$1,200
• − Repairs & maintenance: −$2,343
• − Management: −$2,343
• − Depreciation: −$6,982
• Taxable income: $984
• Est. tax owed @ 24.0%: −$236
• After-tax cash flow: $4,606/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: Mt Vernon Community School Corporation
• NCES district ID: 1807260
• Math proficiency: 43% ▼ -12.00%
• Reading proficiency: 48% ▼ -7.00%
• Median HH income: $73,671
• Composite: 41.3/100
• National rank: #3514
• State rank: #70 of 301 in IN

Livability — Fortville

• Score: 69/100
• State rank: #189
• US rank: #8710

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Fortville, IN
• Population (ZIP): 17,891

Population outlook (Hancock County) Hauer SSP2

• Today (2025): 77,820 people
• By 2030: 79,914 · +2.7%
• By 2040: 82,734 · +6.3%
• By 2050: 83,348 · +7.1%
• By 2075: 82,439 · +5.9%
• By 2100: 74,181 · -4.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (83%)
• Race & ethnicity: White 83% Black 6% Two or more races 4% Asian 4% Hispanic / Latino 2%
• Common ancestry: Lithuanian 5% Romanian 2% Portuguese 2%
• Foreign-born: 5% · Canada
• Languages at home: 94% English-only · Other Indo-European 3% Arabic 1% Spanish 1%

Political lean MEDSL · Hancock

• 2024 margin: Solid R (+33.7) · D 32.2% · R 65.9% · Other 1.9%
• 2008→2024 swing: -4.1pp toward R · 2008: -29.6pp · 2024: -33.7pp
• All cycles: 2024: R+33.7 2020: R+37.5 2016: R+44.8 2012: R+41.0 2008: R+29.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -71.54%
• Current HPI: 221.8703
• 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

+257.7% since first listed

10 events — show timeline

• 2026-05-07 Listed $250,000 MIBOR as Distributed by MLS Grid
• 2026-03-07 Listing Removed — MIBOR as Distributed by MLS Grid
• 2025-12-18 Price Changed $270,000 MIBOR as Distributed by MLS Grid
• 2025-12-06 Listed $289,900 MIBOR as Distributed by MLS Grid
• 2021-09-24 Sold (MLS) $135,000 MIBOR as Distributed by MLS Grid
• 2021-08-20 Pending — MIBOR as Distributed by MLS Grid
• 2021-08-19 Listed $139,900 MIBOR as Distributed by MLS Grid
• 2013-06-17 Listing Removed — MIBOR as Distributed by MLS Grid
• 2013-06-07 Sold (MLS) $68,000 MIBOR as Distributed by MLS Grid
• 2012-11-06 Listed $69,900 MIBOR as Distributed by MLS Grid

Property tax history

+13.8%/yr

Latest (2025): $1,988 · +36.7% YoY. Source: county tax records.