120 E Swartzel Ave · Vincennes, IN 47591

$79,000

3 bd · 1.5 ba · 1,088 sqft · SingleFamily public records · 195 Days on market

Built 1900 6,098 sqft lot $73/sqft · 19% below area Est $98k · 19% 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 +28.8/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +7.3/10.0
• Livability +3.5/5.0
• Schools +3.0/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

This home features 3 beds & 1.5 baths. Nice fenced in back yard and a 2-car detached garage with a work bench and shelving. Laundry main level. New roof put on in January 2025. Enclosed back porch. Pick-it fence front yard. This property with a little work has great potential! Home is sold "as is. "

Key facts

• Laundry main level
• Enclosed back porch
• Fenced in back yard

Tags

• FENCED IN BACK YARD
• DETACHED GARAGE
• LAUNDRY MAIN LEVEL
• ENCLOSED BACK PORCH
• PICK-IT FENCE FRONT YARD

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $79k.

Deal economics

• At list price, monthly cash flow is $266 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($975 rent vs $79k).
• Recommended offer: $70k (12.0% below list) — sets the bar for market timing.
• Cap rate 10.3% vs local median 5.1% in Vincennes — 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 70/100 on livability (#148 in IN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: schools D, amenities F, commute F.
• Vincennes Community School Corporation (town): math 34% / reading 38% proficiency, ranked #193 of 301 in IN (top 64%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 136 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 36 units permitted in Knox County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $546 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Knox County population projected at -13% 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 $22k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 195 days — a 12% lower offer ($70k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 12y ago; this cycle's ask has dropped $21k (21%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $28k; list at $79k implies a 182% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate flood risk; extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $69,520 (12.0% below list)

Questions for the listing agent

1. It's been on market 195 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
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: 1.23% ✓
• Cap rate: 10.33%
• Cash-on-cash: 14.43%
• DSCR: 1.64
• GRM: 6.8

CMA / ARV

• ARV (median comp): $98,075
• List price: $79,000
• Delta: -19.45%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
108 E Eberwine Ave	0.15mi	2/2.0 (-1)	1,160 (+7%)	2mo	$55,000	$47	73
3 E Eberwine Ave	0.16mi	2/1.0 (-1)	1,144 (+5%)	9mo	$96,000	$84	70
507 Kessinger St	0.26mi	3/1.0	982 (-10%)	0mo	$60,000	$61	70
1001 E Locust St	0.61mi	2/1.0 (-1)	1,092 (+0%)	0mo	$65,000	$60	64
1704 Indiana Ave	0.46mi	2/1.0 (-1)	1,128 (+4%)	4mo	$130,000	$115	62
1708 Washington Ave	0.52mi	2/1.0 (-1)	1,125 (+3%)	8mo	$97,000	$86	57
862 Ridgeway Ave	0.53mi	3/2.0	1,188 (+9%)	2mo	$159,000	$134	56
1151 E St. Clair St	0.67mi	2/1.0 (-1)	1,096 (+1%)	6mo	$105,900	$97	56
843 Ritterskamp Ave	0.55mi	3/1.0	1,008 (-7%)	9mo	$139,900	$139	53
1203 Ritterskamp Ave	0.69mi	3/1.0	1,194 (+10%)	6mo	$137,500	$115	45
1172 E Locust St	0.73mi	2/1.0 (-1)	1,008 (-7%)	4mo	$130,000	$129	44
1218 Mckinley Ave	0.71mi	2/1.0 (-1)	1,206 (+11%)	0mo	$185,000	$153	41

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: 4.8%
• Equity multiple: 1.19×
• Total profit: $4,133
• Equity at exit: $11,779

10-year hold

• IRR: 14.3%
• Equity multiple: 2.15×
• Total profit: $25,375
• Equity at exit: $6,830

Cash invested: $22,120 (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 47591

• Home prices YoY: -19.5%
• Active inventory: 136
• Price-to-rent: 6.8×

Monthly cashflow live

• Estimated rent: $975 medium
• Mortgage (P&I): −$414
• Tax from tax record: −$57 /mo · $684/yr
• Insurance: −$33
• HOA: −$0
• Vacancy / Maint / Mgmt: −$205
• Net cashflow: $266

Break-even live

Break-even rent $638

Max offer price $79,000

Occupancy floor 68%

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: $19,750
• Closing costs: $2,370
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
721 N 7th St Unit A Vincennes, IN	2.0	1.0	1000	$975	$0.97	44d	1	0.85mi

Listing history 25 events

1. 2026-06-18
   days on market $79,000 Active 195 DOM
2. 2026-06-17
   days on market $79,000 Active 194 DOM
3. 2026-06-16
   days on market $79,000 Active 193 DOM
4. 2026-06-15
   days on market $79,000 Active 192 DOM
5. 2026-06-13
   days on market $79,000 Active 190 DOM
6. 2026-06-12
   pricedays on market $79,000 Active 189 DOM
7. 2026-06-09
   days on market $84,999 Active 186 DOM
8. 2026-06-08
   days on market $84,999 Active 185 DOM
9. 2026-06-07
   days on market $84,999 Active 184 DOM
10. 2026-06-07
    days on market $84,999 Active 183 DOM
11. 2026-06-04
    days on market $84,999 Active 180 DOM
12. 2026-06-02
    days on market $84,999 Active 179 DOM
13. 2026-06-01
    days on market $84,999 Active 178 DOM
14. 2026-05-31
    days on market $84,999 Active 177 DOM
15. 2026-05-31
    days on market $84,999 Active 176 DOM
16. 2026-04-21
    price $84,999 317-char remark

    Show marketing remark (317 chars)

    This home features 3 beds & 1.5 baths. Nice fenced in back yard and a 2-car detached garage with a work bench and shelving. Laundry main level. New roof put on in January 2025. Enclosed back porch. Pick-it fence front yard. This property with a little work has great potential! Home is sold "as is. "

17. 2026-04-06
    status Active 317-char remark

    Show marketing remark (317 chars)

    This home features 3 beds & 1.5 baths. Nice fenced in back yard and a 2-car detached garage with a work bench and shelving. Laundry main level. New roof put on in January 2025. Enclosed back porch. Pick-it fence front yard. This property with a little work has great potential! Home is sold "as is. "

18. 2026-03-15
    status Pending 317-char remark

    Show marketing remark (317 chars)

    This home features 3 beds & 1.5 baths. Nice fenced in back yard and a 2-car detached garage with a work bench and shelving. Laundry main level. New roof put on in January 2025. Enclosed back porch. Pick-it fence front yard. This property with a little work has great potential! Home is sold "as is. "

19. 2026-03-13
    price $89,999 317-char remark

    Show marketing remark (317 chars)

    This home features 3 beds & 1.5 baths. Nice fenced in back yard and a 2-car detached garage with a work bench and shelving. Laundry main level. New roof put on in January 2025. Enclosed back porch. Pick-it fence front yard. This property with a little work has great potential! Home is sold "as is. "

20. 2025-11-12
    listed $99,900 Active 317-char remark

    Show marketing remark (317 chars)

    This home features 3 beds & 1.5 baths. Nice fenced in back yard and a 2-car detached garage with a work bench and shelving. Laundry main level. New roof put on in January 2025. Enclosed back porch. Pick-it fence front yard. This property with a little work has great potential! Home is sold "as is. "

21. 2018-02-28
    soldstatus $28,000
22. 2017-11-06
    listed $34,900
23. 2016-02-25
    listed $40,000
24. 2014-08-18
    listed $44,000
25. 2012-11-26
    soldstatus $38,000

ⓘ 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: $684 · $57/mo
• Projected year-2 tax: $684 · $57/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 5/10 Major 24% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 5/10 Major 7 d/yr ≥105°F today · 19 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 2% 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: $11,700
• − Mortgage interest: −$4,425
• − Property taxes: −$684
• − Insurance: −$395
• − Repairs & maintenance: −$936
• − Management: −$936
• − Depreciation: −$2,298
• Taxable income: $2,026
• Est. tax owed @ 24.0%: −$486
• After-tax cash flow: $2,707/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: Vincennes Community School Corporation
• NCES district ID: 1812120
• Math proficiency: 34% ▼ -5.00%
• Reading proficiency: 38% ▼ -4.00%
• Median HH income: $38,359
• Composite: 30.05/100
• National rank: #6354
• State rank: #193 of 301 in IN

Livability — Vincennes

• Score: 70/100
• State rank: #148
• US rank: #7480

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Vincennes, IN
• Population (ZIP): 25,191

Population outlook (Knox County) Hauer SSP2

• Today (2025): 37,092 people
• By 2030: 36,271 · -2.2%
• By 2040: 34,196 · -7.8%
• By 2050: 32,405 · -12.6%
• By 2075: 28,754 · -22.5%
• By 2100: 24,110 · -35.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (88%)
• Race & ethnicity: White 88% Two or more races 6% Hispanic / Latino 3% Black 2% Asian 1%
• Common ancestry: Lithuanian 4% Romanian 2% Slovak 2%
• Foreign-born: 3% · Canada, China
• Languages at home: 95% English-only · Spanish 2% French/Haitian/Cajun 1% Chinese 1%

Political lean MEDSL · Knox

• 2024 margin: Solid R (+50.4) · D 24.0% · R 74.4% · Other 1.6%
• 2008→2024 swing: -43.9pp toward R · 2008: -6.5pp · 2024: -50.4pp
• All cycles: 2024: R+50.4 2020: R+47.4 2016: R+47.2 2012: R+28.9 2008: R+6.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -47.26%
• Current HPI: 194.903
• 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

+123.7% since first listed

10 events — show timeline

• 2026-04-21 Price Changed $84,999 IRMLS
• 2026-04-06 Relisted — IRMLS
• 2026-03-15 Pending — IRMLS
• 2026-03-13 Price Changed $89,999 IRMLS
• 2025-11-12 Listed $99,900 IRMLS
• 2018-02-28 Sold (MLS) $28,000 IRMLS
• 2017-11-06 Listed $34,900 IRMLS
• 2016-02-25 Listed $40,000 IRMLS
• 2014-08-18 Listed $44,000 IRMLS
• 2012-11-26 Sold (Public Records) $38,000 Public Records

Property tax history

+3.4%/yr

Latest (2024): $684 · +11.1% YoY. Source: county tax records.