5814 N Fares Ave · Evansville, IN 47711

$119,900

2 bd · 1.0 ba · 720 sqft · SingleFamily public records · 1 Days on market

Built 1969 0.25 ac lot Est $138k · 13% under

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Why this score? — see what drove the C- 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 +16.2/30.0
• ARV discount +13.3/15.0
• DSCR +5.0/10.0
• Rent growth +4.2/5.0
• 1% rule +3.3/10.0
• Schools +3.3/10.0
• Livability +3.2/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Adorable 2 bed 1 bath on Evansville's Northside. Remodeled and updated, this 2 bed 1 bath home has so much to offer including the extra large front porch, well sized yard with room to grow. Inside enjoy new floors, paint, kitchen, fixtures, and much more. Plus, you can rest easy with a Whole house Pre inspection already completed and repairs scheduled! All this, centrally located minutes from everything.

Key facts

• New floors
• New kitchen
• New paint

Tags

• EXTRA LARGE FRONT PORCH
• WELL SIZED YARD
• NEW FLOORS
• NEW PAINT
• NEW KITCHEN
• NEW FIXTURES

Property features AI

Finance

• Other: Energy-efficient features include HVAC, windows, and roof

Exterior

• Parking: Gravel parking
• Utilities: Public water; Public sewer
• Home design: Single-family site-built home; One story
• Construction: Aluminum and vinyl siding; Block foundation; Shingle roof; Built as site-built construction
• Exterior features: Front porch; Level lot; Shed(s) on the property; No fencing

Interior

• Kitchen: Stone counters
• Bedrooms: Total of 4 rooms (includes bedrooms and living spaces)
• Flooring: Carpet; Laminate; Vinyl
• Bathrooms: 1 full bathroom (main level)
• Heating & cooling: Central air conditioning; Natural gas heating; Floor furnace
• Interior features: Stone countertops; Master bedroom on the main floor; Insulated windows
• 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 $120k.

Deal economics

• At list price, monthly cash flow is $64 ($767/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 $99k (17.4% below list).
• Recommended offer: $99k (17.4% below list) — sets the bar for 1% rule.
• Cap rate 6.9% vs local median 4.6% in Evansville — 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 63/100 on livability (#416 in IN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: crime F, commute F, employment D-.
• Evansville Vanderburgh School Corporation (urban): math 36% / reading 43% proficiency, ranked #153 of 301 in IN (top 51%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: North Junior High School (math 44% / reading 57%, grade C, #43 of 330 statewide, top 14%, 929 students, 42% FRL); North High School (math 57% / reading 74%, grade B, #29 of 369 statewide, top 8%, 1,674 students, 35% FRL).
• Zoned-school proficiency averages 58% at this address vs 40% district-wide (+18 pts) — the actual schools serving this property are materially stronger than the Evansville Vanderburgh School Corporation average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: Rents rising fast (+6.7%/yr); 229 active listings in the ZIP; 508 units permitted in Vanderburgh County in 2024 (32 in 5+ unit buildings).
• This rent is only 18% of the median local income ($66k/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 $829 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 2y 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

• 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 $99,071 (17.4% below list)

Questions for the listing agent

1. Built in 1969 — 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. Crime grade is F 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?
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: 0.83% ✗
• Cap rate: 6.93%
• Cash-on-cash: 2.28%
• DSCR: 1.10
• GRM: 10.1

CMA / ARV

• ARV (on-the-fly): $137,520
• Comps found: 6

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1120 Saint George Rd	0.17mi	2/1.0	720 (0%)	2mo	$116,000	$161	90
5817 N Kerth Ave	0.05mi	2/1.0	720 (0%)	16mo	$103,500	$144	84
1207 Saint George Rd	0.20mi	2/1.0	728 (+1%)	8mo	$139,000	$191	82
1116 Saint George Rd	0.18mi	2/1.0	720 (0%)	12mo	$142,000	$197	82
5709 N Kerth Ave	0.09mi	2/1.0	792 (+10%)	0mo	$115,000	$145	79
1201 Christ Rd	0.45mi	2/1.0	768 (+7%)	11mo	$150,000	$195	59

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 · 6.72% rent growth · sell at horizon

5-year hold

• IRR: -9.1%
• Equity multiple: 0.66×
• Total profit: $-11,565
• Equity at exit: $17,877

10-year hold

• IRR: 4.3%
• Equity multiple: 1.36×
• Total profit: $11,999
• Equity at exit: $10,367

Cash invested: $33,572 (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 47711

• Home prices YoY: -32.3%
• Rents YoY: 6.7%
• Active inventory: 229
• Price-to-rent: 10.1×

Monthly cashflow live

• Estimated rent: $991 medium
• Mortgage (P&I): −$629
• Tax from tax record: −$40 /mo · $480/yr
• Insurance: −$50
• HOA: −$0
• Vacancy / Maint / Mgmt: −$208
• Net cashflow: $64

Break-even live

Break-even rent $910

Max offer price $119,900

Occupancy floor 89%

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: $29,975
• Closing costs: $3,597
• Reserves months: —
• Total cash needed: —

Listing history 2 events

1. 2026-06-19
   remarks 407-char remark
2. 2026-06-19
   listed $119,900 Active 1 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: $480 · $40/mo
• Projected year-2 tax: $750 · $62/mo
• Expected delta: +$269/yr (+$22/mo · 56.1%)

ⓘ 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 4% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $11,889
• − Mortgage interest: −$6,716
• − Property taxes: −$480
• − Insurance: −$600
• − Repairs & maintenance: −$951
• − Management: −$951
• − Depreciation: −$3,488
• Taxable loss: −$1,298
• Est. tax savings @ 24.0%: +$311
• After-tax cash flow: $1,078/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: Evansville Vanderburgh School Corporation
• NCES district ID: 1803450
• Math proficiency: 36% ▼ -7.00%
• Reading proficiency: 43% ▼ -3.00%
• Median HH income: $43,270
• Composite: 33.41/100
• National rank: #5471
• State rank: #153 of 301 in IN

Livability — Evansville

• Score: 63/100
• State rank: #416
• US rank: #15047

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Evansville, IN
• County: Vanderburgh County · 146,793 people
• City population: 146,793
• Metro: Evansville, IN-KY
• Population (ZIP): 30,944
• Household income: $66,320
• Rent vs Own: 24.4% rent · 75.6% own
• Severe rent burden: 659.0

Population outlook (Vanderburgh County) Hauer SSP2

• Today (2025): 187,038 people
• By 2030: 188,907 · +1.0%
• By 2040: 190,272 · +1.7%
• By 2050: 188,871 · +1.0%
• By 2075: 180,751 · -3.4%
• By 2100: 163,015 · -12.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (85%)
• Race & ethnicity: White 85% Black 8% Two or more races 5% Hispanic / Latino 2%
• Common ancestry: Lithuanian 2% Romanian 2% Slovak 1%
• Foreign-born: 2% · Canada
• Languages at home: 97% English-only · Spanish 2%

Political lean MEDSL · Vanderburgh

• 2024 margin: R (+12.7) · D 43.0% · R 55.6% · Other 1.4%
• 2008→2024 swing: -15.1pp toward R · 2008: 2.5pp · 2024: -12.7pp
• All cycles: 2024: R+12.7 2020: R+9.6 2016: R+16.9 2012: R+10.8 2008: D+2.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -97.98%
• Current HPI: 205.62
• Rent YoY: ▲ 6.72%
• Metro: Evansville, IN-KY
• 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

+14.2% since first listed

4 events — show timeline

• 2026-06-18 Listed $119,900 IRMLS
• 2024-10-11 Price Changed $80,000 IRMLS
• 2024-09-13 Price Changed $95,000 IRMLS
• 2024-09-11 Listed $105,000 IRMLS

Property tax history

-0.5%/yr

Latest (2024): $480 · -4.8% YoY. Source: county tax records.