2301 S 19th St · New Castle, IN 47362

$94,900

2 bd · 1.0 ba · 660 sqft · SingleFamily public records · 59 Days on market

Built 1955 0.26 ac lot $144/sqft · at area comps Est $92k · at est.

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Why this score? — see what drove the D 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 +15.5/30.0
• ARV discount +6.2/15.0
• DSCR +4.8/10.0
• Livability +3.8/5.0
• Rent growth +3.6/5.0
• 1% rule +3.4/10.0
• Schools +2.7/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

This well-maintained home rests on a spacious double lot. The home is move-in-ready and features all appliances included in the sale. The home offers 2 bedrooms, full bath, and main level laundry. The large detached garage offers an exceptional amount of storage space on the ground level as well as additional loft storage. The lawn is spacious and features mature trees throughout.

Key facts

• Sprawling lot
• Welcoming porch
• 0.26 acre lot

Tags

• WELCOMING PORCH
• SPRAWLING LOT
• LARGE DETACHED GARAGE

Property features AI

Exterior

• Parking: Detached garage (1 car, 396 sq ft)
• Utilities: Public water; Municipal sewer connected; Cable available
• Home design: Single family residence; One story
• Construction: Vinyl siding; Crawl space foundation
• Exterior features: Covered patio/porch; Corner lot

Interior

• Kitchen: Eat-in kitchen
• Bedrooms: 2 bedrooms on the main level
• Bathrooms: 1 full bathroom (main level)
• Heating & cooling: Forced air heating (natural gas); Central air conditioning
• Interior features: High ceilings; Eat-in kitchen; Woodwork painted
• Laundry & utility: Laundry on the main level

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $95k.

Deal economics

• At list price, monthly cash flow is $38 ($457/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $80k (16.1% below list).
• Recommended offer: $80k (16.1% below list) — sets the bar for 1% rule.
• Cap rate 6.8% vs local median 4.7% in New Castle — 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 75/100 on livability (#64 in IN, #4,219 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F, employment D-.
• New Castle Community School Corporation (town): math 30% / reading 35% proficiency, ranked #229 of 301 in IN (top 76%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Sunnyside Elementary School (math 50% / reading 30%, grade F, #498 of 994 statewide, top 50%, 64 students, 83% FRL); New Castle Middle School (math 20% / reading 31%, grade F, #243 of 330 statewide, top 74%, 666 students, 61% FRL); New Castle High School (math 27% / reading 52%, grade F, #221 of 369 statewide, top 63%, 836 students, 56% FRL).
• Market conditions: Rents rising fast (+4.6%/yr); 217 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals at typical pace (median 17d on market — plan ~3-4 weeks tenant-placement turnaround); 47 units permitted in Henry County in 2024 (0 in 5+ unit buildings).
• This rent is only 16% of the median local income ($60k/yr) — well below the 30% rent-burden line; pricing power to push rent on renewal without tenant pushback.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $656 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Henry County population projected at -12% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 59 days — a 3% lower offer ($92k) is reasonable based on typical stale-listing flexibility.
• 10 sale attempts since 20y 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.

Risks & watch-outs

• Watch-outs: built in 1955 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $79,590 (16.1% below list)

Questions for the listing agent

1. It's been on market 59 days. Have you received any prior offers? Is the seller open to a 16% concession, seller financing, or rate buy-down credit?
2. Built in 1955 — 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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 0.84% ✗
• Cap rate: 6.77%
• Cash-on-cash: 1.72%
• DSCR: 1.08
• GRM: 9.9

CMA / ARV

• ARV (median comp): $92,220
• List price: $94,900
• Delta: 2.91%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 9 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2605 Sunnyside Ave	0.23mi	2/1.0	720 (+9%)	2mo	$90,000	$125	73
1918 Roosevelt Ave	0.38mi	2/1.0	704 (+7%)	10mo	$36,000	$51	62
1612 Irvin St	0.70mi	2/1.0	672 (+2%)	2mo	$82,000	$122	62
2421 Cherrywood Ave	0.26mi	2/1.0	624 (-6%)	23mo	$75,000	$120	60
1516 S 20th St	0.49mi	2/1.0	756 (+14%)	7mo	$106,000	$140	47
3010 S 23rd St	0.52mi	2/1.0	720 (+9%)	17mo	$94,000	$131	46
1625 Irvin St	0.71mi	2/1.0	726 (+10%)	9mo	$115,000	$158	43
2702 Greenview Ave	0.32mi	2/1.0	750 (+14%)	24mo	$142,400	$190	43
1805 Irvin St	0.64mi	2/1.0	752 (+14%)	20mo	$125,000	$166	30

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 · 4.59% rent growth · sell at horizon

5-year hold

• IRR: -12.0%
• Equity multiple: 0.56×
• Total profit: $-11,686
• Equity at exit: $14,150

10-year hold

• IRR: -0.9%
• Equity multiple: 0.94×
• Total profit: $-1,683
• Equity at exit: $8,205

Cash invested: $26,572 (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 47362

• Home prices YoY: -16.0%
• Rents YoY: 4.6%
• Active inventory: 217
• Price-to-rent: 9.9×

Monthly cashflow live

• Estimated rent: $796 high
• Mortgage (P&I): −$498
• Tax from tax record: −$53 /mo · $641/yr
• Insurance: −$40
• HOA: −$0
• Vacancy / Maint / Mgmt: −$167
• Net cashflow: $38

Break-even live

Break-even rent $748

Max offer price $94,900

Occupancy floor 90%

Sensitivity live

Price	-10% $92	-5% $65	+0% $38	+5% $11	+10% $-16
Rent	-10% $-25	-5% $7	+0% $38	+5% $70	+10% $101
Rate	-1.0pp $86	-0.5pp $62	base $38	+0.5pp $14	+1.0pp $-12

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: $23,725
• Closing costs: $2,847
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
940 S 15th St New Castle, IN	1.0–2.0	1.0–1.5	816	$1,075	$1.32	0d	2	0.88mi
701 S 14th St Unit 4A New Castle, IN	1.0	1.0	600	$615	$1.02	14d	1	1.11mi
701 S 14th St New Castle, IN	1.0	1.0	500	$635	$1.27	19d	1	1.11mi
701 S 14th St New Castle, IN	1.0	1.0	500	$635	$1.27	25d	1	1.11mi
417 S 12th St Unit D New Castle, IN	1.0	1.0	525	$685	$1.30	16d	1	1.37mi

Listing history 35 events

1. 2026-06-21
   days on market $94,900 Active 59 DOM
2. 2026-06-19
   days on market $94,900 Active 57 DOM
3. 2026-06-18
   days on market $94,900 Active 56 DOM
4. 2026-06-17
   days on market $94,900 Active 55 DOM
5. 2026-06-16
   days on market $94,900 Active 54 DOM
6. 2026-06-15
   days on market $94,900 Active 53 DOM
7. 2026-06-14
   days on market $94,900 Active 51 DOM
8. 2026-06-12
   days on market $94,900 Active 50 DOM
9. 2026-06-09
   days on market $94,900 Active 47 DOM
10. 2026-06-08
    days on market $94,900 Active 46 DOM
11. 2026-06-07
    days on market $94,900 Active 45 DOM
12. 2026-06-05
    days on market $94,900 Active 42 DOM
13. 2026-06-03
    days on market $94,900 Active 41 DOM
14. 2026-06-02
    days on market $94,900 Active 40 DOM
15. 2026-06-01
    days on market $94,900 Active 39 DOM
16. 2026-05-31
    days on market $94,900 Active 38 DOM
17. 2026-05-30
    days on market $94,900 Active 37 DOM
18. 2026-04-23
    listed $94,900 Active 583-char remark
19. 2021-09-14
    soldstatus $87,000

    Show marketing remark (383 chars)

    This well-maintained home rests on a spacious double lot. The home is move-in-ready and features all appliances included in the sale. The home offers 2 bedrooms, full bath, and main level laundry. The large detached garage offers an exceptional amount of storage space on the ground level as well as additional loft storage. The lawn is spacious and features mature trees throughout.

20. 2021-09-14
    soldstatus $87,000

    Show marketing remark (383 chars)

    This well-maintained home rests on a spacious double lot. The home is move-in-ready and features all appliances included in the sale. The home offers 2 bedrooms, full bath, and main level laundry. The large detached garage offers an exceptional amount of storage space on the ground level as well as additional loft storage. The lawn is spacious and features mature trees throughout.

21. 2021-09-14
    soldstatus $87,000

    Show marketing remark (383 chars)

    This well-maintained home rests on a spacious double lot. The home is move-in-ready and features all appliances included in the sale. The home offers 2 bedrooms, full bath, and main level laundry. The large detached garage offers an exceptional amount of storage space on the ground level as well as additional loft storage. The lawn is spacious and features mature trees throughout.

22. 2021-06-23
    listed $79,900

    Show marketing remark (383 chars)

    This well-maintained home rests on a spacious double lot. The home is move-in-ready and features all appliances included in the sale. The home offers 2 bedrooms, full bath, and main level laundry. The large detached garage offers an exceptional amount of storage space on the ground level as well as additional loft storage. The lawn is spacious and features mature trees throughout.

23. 2021-06-23
    listed $79,900

    Show marketing remark (383 chars)

    This well-maintained home rests on a spacious double lot. The home is move-in-ready and features all appliances included in the sale. The home offers 2 bedrooms, full bath, and main level laundry. The large detached garage offers an exceptional amount of storage space on the ground level as well as additional loft storage. The lawn is spacious and features mature trees throughout.

24. 2021-06-23
    listed $79,900

    Show marketing remark (383 chars)

    This well-maintained home rests on a spacious double lot. The home is move-in-ready and features all appliances included in the sale. The home offers 2 bedrooms, full bath, and main level laundry. The large detached garage offers an exceptional amount of storage space on the ground level as well as additional loft storage. The lawn is spacious and features mature trees throughout.

25. 2019-04-22
    soldstatus $53,200
26. 2019-04-22
    soldstatus $53,200
27. 2019-04-22
    soldstatus $53,200
28. 2019-03-27
    listed $55,000
29. 2019-03-27
    listed $55,000
30. 2019-03-27
    listed $55,000
31. 2018-05-31
    historical
32. 2017-11-16
    listed $55,000
33. 2017-11-16
    listed $55,000
34. 2007-01-15
    historical
35. 2006-08-25
    listed $64,900

ⓘ 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: $641 · $53/mo
• Projected year-2 tax: $724 · $60/mo
• Expected delta: +$83/yr (+$7/mo · 12.9%)

ⓘ 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 ≥99°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: $9,551
• − Mortgage interest: −$5,316
• − Property taxes: −$641
• − Insurance: −$474
• − Repairs & maintenance: −$764
• − Management: −$764
• − Depreciation: −$2,761
• Taxable loss: −$1,170
• Est. tax savings @ 24.0%: +$281
• After-tax cash flow: $738/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 Castle Community School Corporation
• NCES district ID: 1807440
• Math proficiency: 30% ▼ -13.00%
• Reading proficiency: 35% ▼ -9.00%
• Median HH income: $36,717
• Composite: 26.99/100
• National rank: #7067
• State rank: #229 of 301 in IN

Livability — New Castle

• Score: 75/100
• State rank: #64
• US rank: #4219

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: New Castle, IN
• County: Henry County · 29,337 people
• City population: 29,337
• Metro: New Castle, IN
• Population (ZIP): 29,337
• Household income: $60,258
• Rent vs Own: 27.6% rent · 72.4% own
• Severe rent burden: 545.0

Population outlook (Henry County) Hauer SSP2

• Today (2025): 48,028 people
• By 2030: 47,125 · -1.9%
• By 2040: 44,820 · -6.7%
• By 2050: 42,207 · -12.1%
• By 2075: 35,814 · -25.4%
• By 2100: 26,779 · -44.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (90%)
• Race & ethnicity: White 90% Two or more races 3% Black 3% Hispanic / Latino 3%
• Common ancestry: Italian 2% Slovak 1% Lithuanian 1%
• Foreign-born: 2% · Canada
• Languages at home: 97% English-only · Spanish 2%

Political lean MEDSL · Henry

• 2024 margin: Solid R (+47.7) · D 25.3% · R 73.0% · Other 1.7%
• 2008→2024 swing: -43.8pp toward R · 2008: -3.9pp · 2024: -47.7pp
• All cycles: 2024: R+47.7 2020: R+45.2 2016: R+43.7 2012: R+17.0 2008: R+3.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -43.70%
• Current HPI: 228.8885
• Rent YoY: ▲ 4.59%
• Metro: New Castle, 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

+46.2% since first listed

18 events — show timeline

• 2026-04-23 Listed $94,900 MIBOR as Distributed by MLS Grid
• 2021-09-14 Sold (MLS) $87,000 MIBOR as Distributed by MLS Grid
• 2021-09-14 Sold (MLS) $87,000 IRMLS
• 2021-09-14 Sold (MLS) $87,000 RRELMS
• 2021-06-23 Listed $79,900 MIBOR as Distributed by MLS Grid
• 2021-06-23 Listed $79,900 RRELMS
• 2021-06-23 Listed $79,900 IRMLS
• 2019-04-22 Sold (MLS) $53,200 RRELMS
• 2019-04-22 Sold (MLS) $53,200 MIBOR as Distributed by MLS Grid
• 2019-04-22 Sold (MLS) $53,200 IRMLS
• 2019-03-27 Listed $55,000 RRELMS
• 2019-03-27 Listed $55,000 MIBOR as Distributed by MLS Grid
• 2019-03-27 Listed $55,000 IRMLS
• 2018-05-31 Listing Removed — MIBOR as Distributed by MLS Grid
• 2017-11-16 Listed $55,000 MIBOR as Distributed by MLS Grid
• 2017-11-16 Listed $55,000 IRMLS
• 2007-01-15 Listing Removed — MIBOR as Distributed by MLS Grid
• 2006-08-25 Listed $64,900 MIBOR as Distributed by MLS Grid

Property tax history

-5.1%/yr

Latest (2024): $641 · +30.8% YoY. Source: county tax records.