1024 Vanderburgh Ave · Evansville, IN 47711

$197,300

3 bd · 2.0 ba · 1,756 sqft · SingleFamily public records · 10 Days on market

Built 1950 5,120 sqft lot Est $290k · 32% under

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Why this score? — see what drove the D 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).

• ARV discount +15.0/15.0
• Cash flow +9.9/30.0
• Rent growth +4.2/5.0
• Schools +3.3/10.0
• Livability +3.2/5.0
• DSCR +2.8/10.0
• Condition / age +2.5/5.0
• 1% rule +1.7/10.0
• Appreciation +0.0/10.0

Listing remarks

Updated move-in ready northside 4 bedroom, 2 full bath home with large 2-story 2.5 car detached garage located on a dead-end street. Large living room, kitchen with large island open to a formal dining area that can also be used as family room. 3 bedrooms upstairs with full bathroom. 1 bedroom downstairs with full bathroom. Upstairs landing area with plenty of outlets would make a perfect study or office area. The laundry is conveniently located in a large mud room with exterior door leading to a large deck overlooking the backyard. Updates include new roof, flooring throughout, fresh paint, lights and plumbing fixtures, some electrical, 2 new hvac, hot water heater, all new appliances, and

Key facts

• Large deck
• Large island
• Formal dining area

Tags

• MOVE IN READY
• LARGE ISLAND
• FORMAL DINING AREA
• UPSTAIRS LANDING AREA
• LARGE MUD ROOM
• LARGE DECK

Property features AI

Finance

• Other: Lot dimensions approximately 40 x 128 (0.12 acre)

Exterior

• Parking: Detached garage; Two garage spaces; Off-street parking; Gravel parking surface
• Utilities: Public water; Public sewer
• Home design: Single-family site-built home; Two stories; Home warranty included
• Construction: Aluminum siding; Vinyl siding; Crawl space foundation; Built as site-built home
• Exterior features: Partial chain-link fencing; Asphalt roof

Interior

• Kitchen: Gas range; Refrigerator; Exhaust fan
• Flooring: Tile flooring; Vinyl flooring
• Bathrooms: Two full bathrooms; One main-level bathroom
• Heating & cooling: Natural gas forced-air heating; Central air conditioning; Ceiling fan(s)
• Interior features: Breakfast bar; Ceiling fans
• Laundry & utility: Main-level laundry; Gas water heater; Water heater

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $197k.

Deal economics

• At list price, monthly cash flow is $-124 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $175k (11.1% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $132k (33.0% below list).
• Recommended offer: $132k (33.0% 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: Stringtown Elementary School (math 42% / reading 37%, grade F, #500 of 994 statewide, top 53%, 332 students, 63% FRL); Thompkins Middle School (math 39% / reading 46%, grade D-, #98 of 330 statewide, top 30%, 618 students, 53% FRL); Central High School (math 38% / reading 74%, grade C, #73 of 369 statewide, top 20%, 1,090 students, 52% FRL).
• Market conditions: Rents rising fast (+6.7%/yr); 229 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 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 $6k of value loss. Plan a longer hold.

Negotiation context

• Only 10 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1950 — 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 $132,270 (33.0% 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 1950 — 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: 0.67% ✗
• Cap rate: 5.54%
• Cash-on-cash: -2.70%
• DSCR: 0.88
• GRM: 12.4

CMA / ARV

• ARV (on-the-fly): $289,740
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1024 Vanderburgh Ave	0.00mi	4/2.0 (+1)	1,756 (0%)	0mo	$199,300	$113	95
1044 Vanderburgh Ave	0.04mi	3/1.5	1,610 (-8%)	1mo	$179,000	$111	81
5000 Cider Mill Ct	0.61mi	3/2.0	1,854 (+6%)	1mo	$305,000	$165	61
1526 Eli Dr	0.66mi	3/2.0	1,757 (+0%)	15mo	$347,900	$198	57
1514 Eli Dr	0.65mi	3/2.0	1,733 (-1%)	13mo	$318,500	$184	57
1501 Eli Dr	0.66mi	3/2.0	1,628 (-7%)	4mo	$337,000	$207	53
936 Tulip Ave	0.53mi	3/2.0	1,559 (-11%)	11mo	$180,000	$115	47
1535 Venture Dr	0.65mi	4/2.5 (+1)	1,971 (+12%)	0mo	$395,000	$200	42
1714 Venture Dr	0.73mi	3/2.0	1,508 (-14%)	8mo	$324,900	$215	36
939 E Parkland Ave	0.74mi	3/2.0	1,904 (+8%)	21mo	$140,000	$74	34
1538 Eli Dr	0.67mi	3/2.0	2,011 (+14%)	13mo	$329,000	$164	34
4620 Weaver Rd	0.71mi	2/2.0 (-1)	1,886 (+7%)	19mo	$176,000	$93	34

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: -17.4%
• Equity multiple: 0.37×
• Total profit: $-34,840
• Equity at exit: $29,418

10-year hold

• IRR: -4.4%
• Equity multiple: 0.67×
• Total profit: $-18,168
• Equity at exit: $17,059

Cash invested: $55,244 (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: 12.4×

Monthly cashflow live

• Estimated rent: $1,323 medium
• Mortgage (P&I): −$1,035
• Tax from tax record: −$52 /mo · $626/yr
• Insurance: −$82
• HOA: −$0
• Vacancy / Maint / Mgmt: −$278
• Net cashflow: $-124

Break-even live

Break-even rent $1,480

Max offer price $175,375

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: $49,325
• Closing costs: $5,919
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4135 Highway 41 N Evansville, IN	3.0	2.0	1390	$1,600	$1.15	21d	1	0.45mi
1422 Venus Dr #206 Evansville, IN	2.0	2.0	1525	$1,500	$0.98	21d	1	0.46mi

Listing history 2 events

1. 2026-05-18
   status Pending
2. 2026-05-08
   listed $197,300 Active

ⓘ 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: $626 · $52/mo
• Projected year-2 tax: $1,152 · $96/mo
• Expected delta: +$525/yr (+$44/mo · 83.9%)

ⓘ 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 ≥106°F today · 19 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: $15,872
• − Mortgage interest: −$11,052
• − Property taxes: −$626
• − Insurance: −$986
• − Repairs & maintenance: −$1,270
• − Management: −$1,270
• − Depreciation: −$5,740
• Taxable loss: −$5,071
• Est. tax savings @ 24.0%: +$1,217
• After-tax cash flow: $-272/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

2 events — show timeline

• 2026-05-18 Pending — IRMLS
• 2026-05-08 Listed $197,300 IRMLS

Property tax history

-9.2%/yr

Latest (2024): $626 · +4.8% YoY. Source: county tax records.