25 N 15th St · Vincennes, IN 47591

$69,900

2 bd · 1.0 ba · 900 sqft · SingleFamily public records · 27 Days on market

Built 1910 3,920 sqft lot $78/sqft · 24% below area Est $92k · 24% 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 +15.6/30.0
• ARV discount +15.0/15.0
• 1% rule +4.8/10.0
• DSCR +4.8/10.0
• 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 2 bedroom home features a spacious living room perfect for relaxing or entertaining. Enjoy the convenience of off street parking and a location within walking distance to a nearby school. The home also offers updated flooring throughout, adding a fresh and modern feel. A great opportunity for comfortable living in a convenient location.

Key facts

• 3,920 sq ft lot
• Built 1910
• Listed 27 days

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $70k.

Deal economics

• At list price, monthly cash flow is $30 ($357/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 $69k (1.7% below list).
• Recommended offer: $69k (1.7% below list) — sets the bar for 1% rule.
• Cap rate 6.8% vs local median 5.0% 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: Francis Vigo Elementary School (math 52% / reading 37%, grade F, #379 of 994 statewide, top 41%, 347 students, 62% 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) — zoned schools at 58% FRL track the district average.
• Market conditions: 139 active listings in the ZIP; 2 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 $483 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.

Negotiation context

• It's been on market 27 days — a 2% lower offer ($69k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 7y 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 $28k; list at $70k implies a 150% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1910 — 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 $68,710 (1.7% below list)

Questions for the listing agent

1. Built in 1910 — 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: 0.98% ✗
• Cap rate: 6.80%
• Cash-on-cash: 1.82%
• DSCR: 1.08
• GRM: 8.5

CMA / ARV

• ARV (median comp): $92,118
• List price: $69,900
• Delta: -24.12%
• 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
25 N 15th St	0.00mi	2/1.0	900 (0%)	1mo	$69,000	$77	99
402 N 15th St	0.20mi	2/1.0	884 (-2%)	3mo	$120,000	$136	86
1806 College Ave	0.51mi	2/1.0	868 (-4%)	2mo	$95,000	$109	68
1304 Broadway St	0.19mi	2/1.0	1,014 (+13%)	2mo	$35,000	$35	68
1027 N 10th St	0.73mi	2/1.0	904 (+0%)	0mo	$62,000	$69	65
902 N 12 St	0.53mi	2/1.0	952 (+6%)	4mo	$114,900	$121	63
1317 Wabash Ave	0.61mi	2/1.0	936 (+4%)	3mo	$144,000	$154	63
1309 Wheeler St	0.63mi	2/1.0	856 (-5%)	0mo	$110,000	$129	62
1320 Perry St	0.25mi	1/1.0 (-1)	768 (-15%)	4mo	$28,000	$36	56
1547 E Locust St	0.72mi	2/2.0	874 (-3%)	5mo	$102,000	$117	54
1022 Barnett St	0.47mi	1/1.0 (-1)	773 (-14%)	2mo	$89,500	$116	48
1008 S 14th St	0.70mi	2/1.0	1,020 (+13%)	2mo	$134,000	$131	44

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: -13.4%
• Equity multiple: 0.52×
• Total profit: $-9,403
• Equity at exit: $10,422

10-year hold

• IRR: -4.4%
• Equity multiple: 0.71×
• Total profit: $-5,631
• Equity at exit: $6,044

Cash invested: $19,572 (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 47591

• Home prices YoY: -19.5%
• Active inventory: 139
• Price-to-rent: 8.5×

Monthly cashflow live

• Estimated rent: $687 medium
• Mortgage (P&I): −$367
• Tax from tax record: −$117 /mo · $1,408/yr
• Insurance: −$29
• HOA: −$0
• Vacancy / Maint / Mgmt: −$144
• Net cashflow: $30

Break-even live

Break-even rent $649

Max offer price $69,900

Occupancy floor 91%

Sensitivity live

Price	-10% $69	-5% $50	+0% $30	+5% $10	+10% $-10
Rent	-10% $-25	-5% $3	+0% $30	+5% $57	+10% $84
Rate	-1.0pp $65	-0.5pp $48	base $30	+0.5pp $12	+1.0pp $-7

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: $17,475
• Closing costs: $2,097
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1520 Main St Apt 30 Vincennes, IN	1.0	1.0	825	$650	$0.79	45d	1	0.03mi
721 N 7th St Unit A Vincennes, IN	2.0	1.0	1000	$975	$0.97	45d	1	0.76mi

Listing history 6 events

1. 2026-05-04
   status Pending 343-char remark

   Show marketing remark (343 chars)

   This 2 bedroom home features a spacious living room perfect for relaxing or entertaining. Enjoy the convenience of off street parking and a location within walking distance to a nearby school. The home also offers updated flooring throughout, adding a fresh and modern feel. A great opportunity for comfortable living in a convenient location.

2. 2026-04-22
   price $69,900 343-char remark

   Show marketing remark (343 chars)

   This 2 bedroom home features a spacious living room perfect for relaxing or entertaining. Enjoy the convenience of off street parking and a location within walking distance to a nearby school. The home also offers updated flooring throughout, adding a fresh and modern feel. A great opportunity for comfortable living in a convenient location.

3. 2026-04-07
   listed $72,500 Active 343-char remark

   Show marketing remark (343 chars)

   This 2 bedroom home features a spacious living room perfect for relaxing or entertaining. Enjoy the convenience of off street parking and a location within walking distance to a nearby school. The home also offers updated flooring throughout, adding a fresh and modern feel. A great opportunity for comfortable living in a convenient location.

4. 2021-12-07
   listed $64,500
5. 2019-08-23
   soldstatus $28,000
6. 2019-08-08
   listed $37,000

ⓘ 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: $1,408 · $117/mo
• Projected year-2 tax: $1,408 · $117/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 ≥106°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: $8,245
• − Mortgage interest: −$3,915
• − Property taxes: −$1,408
• − Insurance: −$350
• − Repairs & maintenance: −$660
• − Management: −$660
• − Depreciation: −$2,033
• Taxable loss: −$781
• Est. tax savings @ 24.0%: +$187
• After-tax cash flow: $544/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

+88.9% since first listed

6 events — show timeline

• 2026-05-04 Pending — IRMLS
• 2026-04-22 Price Changed $69,900 IRMLS
• 2026-04-07 Listed $72,500 IRMLS
• 2021-12-07 Listed $64,500 IRMLS
• 2019-08-23 Sold (MLS) $28,000 IRMLS
• 2019-08-08 Listed $37,000 IRMLS

Property tax history

-1.5%/yr

Latest (2024): $1,408 · +3.3% YoY. Source: county tax records.