1305 Washington Ave · Vincennes, IN 47591

$105,500

3 bd · 2.5 ba · 2,225 sqft · SingleFamily public records · 8 Days on market

Built 1900 4,792 sqft lot Est $169k · 38% 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 +30.0/30.0
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• 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

Over 2200 sq ft. 3 bedrooms, 2 full baths. Covered front porch. This home with some TLC has lots of possibilities. To be sold as is.

Key facts

• Covered front porch
• 4,792 sq ft lot
• Built 1900

Tags

• COVERED FRONT PORCH

Property features AI

Exterior

• Utilities: Public water; Public sewer
• Home design: Single-family residence; Site-built home; Two stories
• Construction: Vinyl siding; Block foundation
• Exterior features: 0.11-acre lot; R1 zoning; Public water; Public sewer

Interior

• Kitchen: Refrigerator; Electric range
• Bathrooms: Two full bathrooms; One main-level bathroom
• Heating & cooling: Hot water heating; Window air conditioning units
• Interior features: Refrigerator; Electric range; One fireplace
• Laundry & utility: Washer and dryer on the main level

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath single-family listed at $106k.

Deal economics

• At list price, monthly cash flow is $930 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $106k).
• Cap rate 16.9% 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: amenities F, commute F, employment D-.
• 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.
• Zoned schools: James Whitcomb Riley Elem Sch (math 32% / reading 22%, grade F, #737 of 994 statewide, top 76%, 179 students, 83% FRL); George Rogers Clark School (math 27% / reading 34%, grade F, #203 of 330 statewide, top 63%, 609 students, 57% FRL); Lincoln High School (math 27% / reading 47%, grade F, #247 of 369 statewide, top 70%, 765 students, 55% FRL).
• 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 $729 of loan paydown is wiped out by about $3k 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 $30k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• Only 8 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• 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 $105,500

Questions for the listing agent

1. Built in 1900 — 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. 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: 1.90% ✓
• Cap rate: 16.87%
• Cash-on-cash: 37.78%
• DSCR: 2.68
• GRM: 4.4

CMA / ARV

• ARV (on-the-fly): $169,100
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
917 Oak St	0.05mi	3/1.0	2,212 (-1%)	2mo	$166,400	$75	89
1600 N 14th St	0.42mi	3/3.0	2,263 (+2%)	7mo	$155,000	$68	69
304 N 10th St	0.61mi	3/1.0	2,215 (-0%)	5mo	$115,000	$52	61
1415 E St Clair St	0.47mi	3/1.5	2,064 (-7%)	8mo	$180,000	$87	56
1004 N 10th St	0.21mi	3/2.0	1,912 (-14%)	14mo	$150,000	$78	53
322 N 3rd St	0.71mi	3/2.5	2,304 (+4%)	12mo	$175,000	$76	51
302 N 3rd St	0.74mi	4/2.0 (+1)	2,230 (+0%)	11mo	$177,000	$79	49
718 Buntin St	0.61mi	3/1.0	2,027 (-9%)	3mo	$170,000	$84	48
1927 Washington Ave	0.45mi	2/1.0 (-1)	1,942 (-13%)	2mo	$75,000	$39	46
608 N 6th St	0.48mi	3/2.0	1,904 (-14%)	7mo	$170,000	$89	46
1837 N 2nd St	0.49mi	3/1.5	2,521 (+13%)	6mo	$115,000	$46	45
1136 Broadway St	0.69mi	4/2.0 (+1)	2,016 (-9%)	9mo	$110,000	$55	38

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: 33.8%
• Equity multiple: 2.43×
• Total profit: $42,118
• Equity at exit: $15,730

10-year hold

• IRR: 40.7%
• Equity multiple: 4.82×
• Total profit: $112,872
• Equity at exit: $9,122

Cash invested: $29,540 (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: 4.4×

Monthly cashflow live

• Estimated rent: $2,000 medium
• Mortgage (P&I): −$553
• Tax from tax record: −$53 /mo · $633/yr
• Insurance: −$44
• HOA: −$0
• Vacancy / Maint / Mgmt: −$420
• Net cashflow: $930

Break-even live

Break-even rent $823

Max offer price $105,500

Occupancy floor 48%

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: $26,375
• Closing costs: $3,165
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1601 Montclair Dr Vincennes, IN	3.0	2.0	2800	$2,000	$0.71	43d	1	0.85mi

Listing history 7 events

1. 2026-06-18
   days on market $105,500 Active 8 DOM
2. 2026-06-17
   days on market $105,500 Active 7 DOM
3. 2026-06-16
   days on market $105,500 Active 6 DOM
4. 2026-06-15
   days on market $105,500 Active 5 DOM
5. 2026-06-13
   days on market $105,500 Active 3 DOM
6. 2026-06-12
   remarks 132-char remark
7. 2026-06-12
   listed $105,500 Active 2 DOM

ⓘ 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: $633 · $53/mo
• Projected year-2 tax: $765 · $64/mo
• Expected delta: +$132/yr (+$11/mo · 20.8%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 4/10 Moderate 22% 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: $24,000
• − Mortgage interest: −$5,910
• − Property taxes: −$633
• − Insurance: −$528
• − Repairs & maintenance: −$1,920
• − Management: −$1,920
• − Depreciation: −$3,069
• Taxable income: $10,020
• Est. tax owed @ 24.0%: −$2,405
• After-tax cash flow: $8,755/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

1 event — show timeline

• 2026-06-11 Listed $105,500 IRMLS

Property tax history

-0.4%/yr

Latest (2024): $633 · -47.8% YoY. Source: county tax records.