901 E State St · Princeton, IN 47670

$95,000

2 bd · 1.0 ba · 780 sqft · SingleFamily public records · 27 Days on market

Built 1975 Est $80k · 18% over

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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 +24.6/30.0
• DSCR +7.9/10.0
• 1% rule +5.7/10.0
• Livability +3.6/5.0
• Schools +2.7/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

2 bedroom home located in Princeton IN. This home offers large rooms, a fenced in corner lot, and is close to downtown Princeton area. Neutral flooring and paint throughout.

Key facts

• Newer roof
• Updated windows
• Storage shed

Tags

• NEWER ROOF
• UPDATED WINDOWS
• SUBSTANTIALLY UPDATED BATHROOM
• FENCED BACKYARD
• OFF-STREET PARKING
• STORAGE SHED

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 $197 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $95k).
• Recommended offer: $94k (1.5% below list) — sets the bar for market timing.
• Cap rate 8.8% vs local median 4.7% 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: 143 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals lingering (median 45d 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 $657 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 ($94k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 3y 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 $57k; list at $95k implies a 67% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• 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 $93,575 (1.5% below list)

Questions for the listing agent

1. Built in 1975 — 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. 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?
5. 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.
6. 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.
7. 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: 1.07% ✓
• Cap rate: 8.78%
• Cash-on-cash: 8.88%
• DSCR: 1.39
• GRM: 7.8

CMA / ARV

• ARV (on-the-fly): $80,340
• Comps found: 6

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
730 S Stormont St	0.61mi	2/1.0	828 (+6%)	1mo	$53,500	$65	61
318 E Pine St	0.60mi	2/1.0	852 (+9%)	9mo	$65,000	$76	49
606 S Stormont St	0.52mi	1/1.0 (-1)	725 (-7%)	20mo	$74,500	$103	42
722 S Race St	0.63mi	1/1.0 (-1)	832 (+7%)	16mo	$32,000	$38	41
520 N Gibson St	0.57mi	2/1.0	884 (+13%)	13mo	$135,000	$153	40
1025 S Adams St	0.74mi	3/1.0 (+1)	820 (+5%)	24mo	$137,000	$167	32

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: -2.9%
• Equity multiple: 0.89×
• Total profit: $-2,879
• Equity at exit: $14,165

10-year hold

• IRR: 6.8%
• Equity multiple: 1.51×
• Total profit: $13,567
• Equity at exit: $8,214

Cash invested: $26,600 (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: 143
• Price-to-rent: 7.8×

Monthly cashflow live

• Estimated rent: $1,018 medium
• Mortgage (P&I): −$498
• Tax from tax record: −$70 /mo · $836/yr
• Insurance: −$40
• HOA: −$0
• Vacancy / Maint / Mgmt: −$214
• Net cashflow: $197

Break-even live

Break-even rent $769

Max offer price $95,000

Occupancy floor 76%

Sensitivity live

Price	-10% $251	-5% $224	+0% $197	+5% $170	+10% $143
Rent	-10% $116	-5% $157	+0% $197	+5% $237	+10% $277
Rate	-1.0pp $245	-0.5pp $221	base $197	+0.5pp $172	+1.0pp $147

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: $23,750
• Closing costs: $2,850
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
102 N Seminary St Princeton, IN	2.0	1.0	884	$995	$1.13	44d	1	0.41mi
318 S Gibson St Unit A Princeton, IN	1.0	1.0	750	$795	$1.06	44d	1	0.54mi
220 W Garfield Ave Princeton, IN	2.0	1.0	1000	$1,700	$1.70	44d	2	1.18mi

Listing history 24 events

1. 2026-06-21
   days on market $95,000 Active 27 DOM
2. 2026-06-18
   days on market $95,000 Active 25 DOM
3. 2026-06-17
   days on market $95,000 Active 24 DOM
4. 2026-06-16
   days on market $95,000 Active 23 DOM
5. 2026-06-15
   days on market $95,000 Active 22 DOM
6. 2026-06-13
   days on market $95,000 Active 20 DOM
7. 2026-06-12
   days on market $95,000 Active 19 DOM
8. 2026-06-09
   days on market $95,000 Active 16 DOM
9. 2026-06-08
   days on market $95,000 Active 15 DOM
10. 2026-06-07
    days on market $95,000 Active 14 DOM
11. 2026-06-04
    days on market $95,000 Active 10 DOM
12. 2026-06-02
    days on market $95,000 Active 9 DOM
13. 2026-06-01
    days on market $95,000 Active 8 DOM
14. 2026-05-31
    days on market $95,000 Active 7 DOM
15. 2026-05-31
    days on market $95,000 Active 6 DOM
16. 2026-05-25
    listed $95,000 Active
17. 2024-06-11
    soldstatus $57,000 Closed 173-char remark

    Show marketing remark (173 chars)

    2 bedroom home located in Princeton IN. This home offers large rooms, a fenced in corner lot, and is close to downtown Princeton area. Neutral flooring and paint throughout.

18. 2024-06-10
    soldstatus $57,000
19. 2024-05-07
    status Pending 173-char remark

    Show marketing remark (173 chars)

    2 bedroom home located in Princeton IN. This home offers large rooms, a fenced in corner lot, and is close to downtown Princeton area. Neutral flooring and paint throughout.

20. 2024-05-03
    listed $59,900 Active 173-char remark

    Show marketing remark (173 chars)

    2 bedroom home located in Princeton IN. This home offers large rooms, a fenced in corner lot, and is close to downtown Princeton area. Neutral flooring and paint throughout.

21. 2023-08-08
    soldstatus $55,000 Closed 112-char remark

    Show marketing remark (112 chars)

    Nice 1 to 2 bedroom home with large rooms, off street parking, fenced in back yard and corner lot. Selling As Is

22. 2023-08-08
    soldstatus $55,000

    Show marketing remark (112 chars)

    Nice 1 to 2 bedroom home with large rooms, off street parking, fenced in back yard and corner lot. Selling As Is

23. 2023-07-11
    status Pending 112-char remark

    Show marketing remark (112 chars)

    Nice 1 to 2 bedroom home with large rooms, off street parking, fenced in back yard and corner lot. Selling As Is

24. 2023-07-10
    listed $55,000 Active 112-char remark

    Show marketing remark (112 chars)

    Nice 1 to 2 bedroom home with large rooms, off street parking, fenced in back yard and corner lot. Selling As Is

ⓘ 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: $836 · $70/mo
• Projected year-2 tax: $836 · $70/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 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 5/10 Major 7 d/yr ≥107°F today · 19 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 3% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $12,215
• − Mortgage interest: −$5,321
• − Property taxes: −$836
• − Insurance: −$475
• − Repairs & maintenance: −$977
• − Management: −$977
• − Depreciation: −$2,764
• Taxable income: $865
• Est. tax owed @ 24.0%: −$208
• After-tax cash flow: $2,153/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

+72.7% since first listed

9 events — show timeline

• 2026-05-25 Listed $95,000 FSBO.com
• 2024-06-11 Sold (MLS) $57,000 IRMLS
• 2024-06-10 Sold (Public Records) $57,000 Public Records
• 2024-05-07 Pending — IRMLS
• 2024-05-03 Listed $59,900 IRMLS
• 2023-08-08 Sold (Public Records) $55,000 Public Records
• 2023-08-08 Sold (MLS) $55,000 IRMLS
• 2023-07-11 Pending — IRMLS
• 2023-07-10 Listed $55,000 IRMLS

Property tax history

-0.7%/yr

Latest (2022): $836 · +7.7% YoY. Source: county tax records.