1594 Co Rd 150 N · Connersville, IN 47331

$100,000

3 bd · 2.0 ba · 1,368 sqft · SingleFamily public records · 41 Days on market

Built 1971 0.39 ac 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 +28.3/30.0
• DSCR +10.0/10.0
• 1% rule +7.8/10.0
• ARV discount +7.5/15.0
• 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

Discover the potential of this 3-bedroom, 2-bath home located at 1594 E Co Rd 150 N, offering the perfect blend of peaceful country living with the convenience of being just minutes from town. Situated in a desirable rural setting, this property features an attached 2-car garage and provides a great opportunity to customize the home to your personal style. The home is currently in the process of being remodeled and is ready for the finishing touches. Major improvements have been started, with the remaining work including completion of the kitchen, bathrooms, interior doors, flooring, and final interior finishes. This creates an excellent opportunity for investors, flippers, or buyers looking to build equity by finishing the home to their specifications. Enjoy the quiet surroundings, open space, and privacy while still maintaining easy access to local amenities, shopping, and schools. With solid fundamentals and great potential, this property is ready to be transformed into a beautiful country home.

Key facts

• 0.39 acre lot
• 2 garage spots
• Built 1971

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $100k.

Deal economics

• At list price, monthly cash flow is $320 ($4k/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: $97k (3.0% below list) — sets the bar for market timing.
• Cap rate 10.1% 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; 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 $691 of loan paydown is wiped out by about $3k 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 $28k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 41 days — a 3% lower offer ($97k) is reasonable based on typical stale-listing flexibility.
• 2 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.

Recommended offer $97,000 (3.0% below list)

Questions for the listing agent

1. It's been on market 41 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 1971 — 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: 1.28% ✓
• Cap rate: 10.13%
• Cash-on-cash: 13.70%
• DSCR: 1.61
• GRM: 6.5

CMA / ARV

• ARV (on-the-fly): $207,936
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1642 Co. Rd. 170 N	0.20mi	3/2.0	1,352 (-1%)	17mo	$205,000	$152	75

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: 3.9%
• Equity multiple: 1.15×
• Total profit: $4,176
• Equity at exit: $14,910

10-year hold

• IRR: 13.4%
• Equity multiple: 2.07×
• Total profit: $29,933
• 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 47331

• Home prices YoY: -2.1%
• Active inventory: 171
• Price-to-rent: 6.5×

Monthly cashflow live

• Estimated rent: $1,279 medium
• Mortgage (P&I): −$524
• Tax est. 1.5%: −$125 /mo · $1,500/yr
• Insurance: −$42
• HOA: −$0
• Vacancy / Maint / Mgmt: −$269
• Net cashflow: $320

Break-even live

Break-even rent $875

Max offer price $100,000

Occupancy floor 70%

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: —

Listing history 6 events

1. 2026-03-25
   status Pending

   Show marketing remark (1013 chars)

   Discover the potential of this 3-bedroom, 2-bath home located at 1594 E Co Rd 150 N, offering the perfect blend of peaceful country living with the convenience of being just minutes from town. Situated in a desirable rural setting, this property features an attached 2-car garage and provides a great opportunity to customize the home to your personal style. The home is currently in the process of being remodeled and is ready for the finishing touches. Major improvements have been started, with the remaining work including completion of the kitchen, bathrooms, interior doors, flooring, and final interior finishes. This creates an excellent opportunity for investors, flippers, or buyers looking to build equity by finishing the home to their specifications. Enjoy the quiet surroundings, open space, and privacy while still maintaining easy access to local amenities, shopping, and schools. With solid fundamentals and great potential, this property is ready to be transformed into a beautiful country home.

2. 2026-03-25
   status Pending 1013-char remark

   Show marketing remark (1013 chars)

   Discover the potential of this 3-bedroom, 2-bath home located at 1594 E Co Rd 150 N, offering the perfect blend of peaceful country living with the convenience of being just minutes from town. Situated in a desirable rural setting, this property features an attached 2-car garage and provides a great opportunity to customize the home to your personal style. The home is currently in the process of being remodeled and is ready for the finishing touches. Major improvements have been started, with the remaining work including completion of the kitchen, bathrooms, interior doors, flooring, and final interior finishes. This creates an excellent opportunity for investors, flippers, or buyers looking to build equity by finishing the home to their specifications. Enjoy the quiet surroundings, open space, and privacy while still maintaining easy access to local amenities, shopping, and schools. With solid fundamentals and great potential, this property is ready to be transformed into a beautiful country home.

3. 2026-02-10
   listed $100,000 Active

   Show marketing remark (1013 chars)

   Discover the potential of this 3-bedroom, 2-bath home located at 1594 E Co Rd 150 N, offering the perfect blend of peaceful country living with the convenience of being just minutes from town. Situated in a desirable rural setting, this property features an attached 2-car garage and provides a great opportunity to customize the home to your personal style. The home is currently in the process of being remodeled and is ready for the finishing touches. Major improvements have been started, with the remaining work including completion of the kitchen, bathrooms, interior doors, flooring, and final interior finishes. This creates an excellent opportunity for investors, flippers, or buyers looking to build equity by finishing the home to their specifications. Enjoy the quiet surroundings, open space, and privacy while still maintaining easy access to local amenities, shopping, and schools. With solid fundamentals and great potential, this property is ready to be transformed into a beautiful country home.

4. 2026-02-10
   listed $100,000 Active 1013-char remark

   Show marketing remark (1013 chars)

   Discover the potential of this 3-bedroom, 2-bath home located at 1594 E Co Rd 150 N, offering the perfect blend of peaceful country living with the convenience of being just minutes from town. Situated in a desirable rural setting, this property features an attached 2-car garage and provides a great opportunity to customize the home to your personal style. The home is currently in the process of being remodeled and is ready for the finishing touches. Major improvements have been started, with the remaining work including completion of the kitchen, bathrooms, interior doors, flooring, and final interior finishes. This creates an excellent opportunity for investors, flippers, or buyers looking to build equity by finishing the home to their specifications. Enjoy the quiet surroundings, open space, and privacy while still maintaining easy access to local amenities, shopping, and schools. With solid fundamentals and great potential, this property is ready to be transformed into a beautiful country home.

5. 2025-04-29
   soldstatus $100,000
6. 2014-07-17
   soldstatus $2,850,000

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

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 ≥100°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: $15,353
• − Mortgage interest: −$5,602
• − Property taxes: −$1,500
• − Insurance: −$500
• − Repairs & maintenance: −$1,228
• − Management: −$1,228
• − Depreciation: −$2,909
• Taxable income: $2,386
• Est. tax owed @ 24.0%: −$573
• After-tax cash flow: $3,264/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

• 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

-96.5% since first listed

6 events — show timeline

• 2026-03-25 Pending — ECIAOR
• 2026-03-25 Pending — RRELMS
• 2026-02-10 Listed $100,000 RRELMS
• 2026-02-10 Listed $100,000 ECIAOR
• 2025-04-29 Sold (Public Records) $100,000 Public Records
• 2014-07-17 Sold (Public Records) $2,850,000 Public Records

Property tax history

-7.5%/yr

Latest (2024): $192 · -1.9% YoY. Source: county tax records.