304 S Congress Ave · Evansville, IN 47714

$145,000

2 bd · 1.0 ba · 768 sqft · SingleFamily public records · 1 Days on market

Built 1946 7,405 sqft lot Est $124k · 17% over

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Why this score? — see what drove the F 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 +9.8/30.0
• Rent growth +4.5/5.0
• Schools +3.3/10.0
• Livability +3.2/5.0
• DSCR +2.8/10.0
• Condition / age +2.5/5.0
• 1% rule +2.2/10.0
• ARV discount +0.1/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

Two bedroom and one full bathroom single family home.

Key facts

• Covered front porch
• One-level living
• Updated kitchen

Tags

• ONE-LEVEL LIVING
• UPDATED KITCHEN
• SPLIT-BEDROOM DESIGN
• COVERED FRONT PORCH
• FENCED BACKYARD
• MATURE SHADE TREES

Property features AI

Exterior

• Parking: Off-street parking on concrete
• Utilities: Public water; Public sewer
• Home design: Single-family home; Site-built residence; Single-story
• Construction: Vinyl siding; Shingle roof; Slab foundation; Built on a 0.17 acre lot (approx. 66 x 113)
• Exterior features: Covered porch; Covered patio; Patio; Full fenced yard with chain link, privacy, and wood fencing; Level lot

Interior

• Kitchen: Dishwasher; Microwave; Refrigerator; Electric range
• Bedrooms: Bedrooms not specified
• Flooring: Vinyl flooring
• Bathrooms: Two full bathrooms; Both full bathrooms on the main level
• Heating & cooling: Natural gas forced air heating; Central air conditioning; Ceiling fans for added cooling
• Interior features: Walk-in closets; Ceiling fans; One fireplace
• Laundry & utility: Stacked washer/dryer; Laundry located on the main level

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $145k.

Deal economics

• At list price, monthly cash flow is $-94 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $128k (11.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $104k (28.5% below list).
• Recommended offer: $104k (28.5% below list) — sets the bar for 1% rule.

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: Evans School (math 9% / reading 7%, grade F, #945 of 994 statewide, top 95%, 499 students, 85% FRL); Plaza Park International Prep Acad (math 27% / reading 37%, grade F, #190 of 330 statewide, top 59%, 650 students, 65% FRL); William Henry Harrison High School (math 29% / reading 54%, grade F, #211 of 369 statewide, top 58%, 1,158 students, 61% FRL) — zoned schools average 70% FRL vs 50% district-wide (20 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 27% at this address vs 40% district-wide (-12 pts) — the specific schools serving this property underperform the Evansville Vanderburgh School Corporation average; the district grade overstates school quality for this exact location.
• Market conditions: Rents rising fast (+7.9%/yr); 188 active listings in the ZIP; 24 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); 508 units permitted in Vanderburgh County in 2024 (32 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k 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.
• 4 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.
• Current owner paid $65k; list at $145k implies a 123% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1946 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $103,680 (28.5% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. Built in 1946 — 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. 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?
6. 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?
7. 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.
8. 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.
9. 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: 0.72% ✗
• Cap rate: 5.52%
• Cash-on-cash: -2.77%
• DSCR: 0.88
• GRM: 11.7

CMA / ARV

• ARV (on-the-fly): $124,416
• Comps found: 5

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
320 Euclid Dr	0.17mi	2/1.0	768 (0%)	1mo	$129,000	$168	91
304 S Congress Ave	0.00mi	2/1.0	768 (0%)	21mo	$65,000	$85	82
214 S Congress Ave	0.04mi	2/1.0	800 (+4%)	16mo	$130,500	$163	78
207 S Iroquois Dr	0.07mi	2/1.0	864 (+12%)	13mo	$140,000	$162	65
415 Vann Ave	0.67mi	1/1.0 (-1)	832 (+8%)	16mo	$45,000	$54	36

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 · 7.86% rent growth · sell at horizon

5-year hold

• IRR: -16.1%
• Equity multiple: 0.40×
• Total profit: $-24,180
• Equity at exit: $21,620

10-year hold

• IRR: -1.4%
• Equity multiple: 0.88×
• Total profit: $-4,759
• Equity at exit: $12,537

Cash invested: $40,600 (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 47714

• Rents YoY: 7.9%
• Active inventory: 188
• Price-to-rent: 11.7×

Monthly cashflow live

• Estimated rent: $1,037 high
• Mortgage (P&I): −$760
• Tax from tax record: −$92 /mo · $1,103/yr
• Insurance: −$60
• HOA: −$0
• Vacancy / Maint / Mgmt: −$218
• Net cashflow: $-94

Break-even live

Break-even rent $1,155

Max offer price $128,460

Occupancy floor —

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: $36,250
• Closing costs: $4,350
• Reserves months: —
• Total cash needed: —

Rent comps 24 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3951 Bellemeade Ave Unit D Evansville, IN	2.0	1.0	825	$1,100	$1.33	21d	1	0.47mi
4982 Tippecanoe Dr Evansville, IN	1.0–2.0	1.0	897	$910	$1.01	13d	3	0.50mi
665 Saint Mary's Dr Unit 3 Evansville, IN	1.0	1.0	550	$900	$1.64	21d	1	0.50mi
700 Chateau Dr Evansville, IN	2.0	1.0	825	$695	$0.84	13d	2	0.57mi
950 S Hebron Ave Apt 301 Evansville, IN	2.0	1.0	1088	$1,900	$1.75	21d	1	0.63mi
815 Erie Ave Evansville, IN	1.0–2.0	1.0–2.5	1038	$1,349	$1.30	13d	17	0.72mi
5560 E Virginia St Evansville, IN	1.0	1.0	773	$899	$1.16	21d	1	0.77mi
1165 Shiloh Sq Evansville, IN	1.0–2.0	1.0–2.0	907	$1,145	$1.26	13d	15	0.92mi
1100 Erie Ave Evansville, IN	1.0–3.0	1.0–2.0	962	$1,188	$1.23	21d	2	0.99mi
3 Brentwood Dr Evansville, IN	1.0	1.0	550	$1,300	$2.36	21d	1	1.00mi
1290 Hatfield Dr Unit 1150 Evansville, IN	1.0	1.0	550	$775	$1.41	13d	1	1.04mi
1290 Hatfield Dr Unit 1378 Evansville, IN	1.0	1.0	550	$775	$1.41	21d	1	1.04mi
1290 Hatfield Dr Unit 1330 Evansville, IN	1.0	1.0	550	$697	$1.27	21d	1	1.04mi
1290 Hatfield Dr Unit 1266 Evansville, IN	1.0	1.0	600	$800	$1.33	21d	1	1.04mi
1320 Lee Ct Evansville, IN	1.0–4.0	1.0–1.5	1007	$1,032	$1.03	13d	36	1.10mi
900 S Saint James Blvd Evansville, IN	3.0	2.0	1118	$1,450	$1.30	21d	1	1.16mi
3700 Justus Ct Evansville, IN	1.0–2.0	1.0–2.0	790	$975	$1.23	21d	1	1.18mi
200 Kimber Ln Evansville, IN	1.0–3.0	1.0–1.5	1025	$1,149	$1.12	13d	5	1.20mi
5301 Stonehedge Dr Evansville, IN	1.0–2.0	1.0–2.0	914	$1,170	$1.28	13d	19	1.24mi
100 Williamsburg Dr Evansville, IN	1.0–3.0	1.0–1.5	960	$1,187	$1.24	13d	10	1.28mi
4689 Covert Ave Unit 4629 Evansville, IN	2.0	1.0	725	$775	$1.07	13d	1	1.29mi
4689 Covert Ave Unit 4637 Evansville, IN	1.0	1.0	610	$695	$1.14	21d	1	1.29mi
1621 Burdette Ave Evansville, IN	2.0	1.0	720	$1,050	$1.46	21d	1	1.30mi
103 Princeton Ct Evansville, IN	1.0	1.0	576	$802	$1.39	13d	4	1.43mi

Listing history 2 events

1. 2026-06-18
   remarks 634-char remark
2. 2026-06-18
   listed $145,000 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: $1,103 · $92/mo
• Projected year-2 tax: $1,168 · $97/mo
• Expected delta: +$65/yr (+$5/mo · 5.9%)

ⓘ 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 5/10 Major 7 d/yr ≥107°F today · 18 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 3% 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: $12,442
• − Mortgage interest: −$8,122
• − Property taxes: −$1,103
• − Insurance: −$725
• − Repairs & maintenance: −$995
• − Management: −$995
• − Depreciation: −$4,218
• Taxable loss: −$3,717
• Est. tax savings @ 24.0%: +$892
• After-tax cash flow: $-231/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): 32,132
• Household income: $55,910
• Rent vs Own: 39.8% rent · 60.2% own
• Severe rent burden: 1394.0

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 (71%)
• Race & ethnicity: White 71% Black 17% Two or more races 6% Hispanic / Latino 6% Asian 1%
• Hispanic origin (detail): Mexican 3%
• Common ancestry: Italian 3% Lithuanian 2% Slovak 1%
• Foreign-born: 6% · Canada, China
• Languages at home: 92% English-only · Spanish 4% Other Asian/Pacific 1% French/Haitian/Cajun 1%

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: ▼ -124.80%
• Current HPI: 211.1755
• Rent YoY: ▲ 7.86%
• 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

+116.4% since first listed

9 events — show timeline

• 2026-06-18 Listed $145,000 IRMLS
• 2025-06-07 Rental Removed $1,500 TENANTTURNER2
• 2025-05-22 Listed for Rent $1,500 TENANTTURNER2
• 2024-09-17 Sold (MLS) $65,000 IRMLS
• 2024-08-19 Pending — IRMLS
• 2024-08-12 Listed $65,000 IRMLS
• 2024-01-24 Pending — IRMLS
• 2024-01-16 Price Changed $57,000 IRMLS
• 2024-01-02 Listed $67,000 IRMLS

Property tax history

-2.6%/yr

Latest (2024): $1,103 · +163.4% YoY. Source: county tax records.