132 Leslie Ave · Evansville, IN 47712

$149,900

3 bd · 1.0 ba · 1,086 sqft · SingleFamily public records · 3 Days on market

Built 1946 8,360 sqft lot Est $163k · 8% 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).

• Cash flow +14.9/30.0
• ARV discount +11.1/15.0
• DSCR +4.6/10.0
• Schools +3.3/10.0
• Livability +3.2/5.0
• 1% rule +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 Three Bedroom Bungalow is located on a corner lot and has been lovingly maintained. The home has a split bedroom design. One of the bedrooms has a walk-in closet. There are replacement windows throughout the home. The home has a light bright feel with windows in every room! Appliances included are the refrigerator, gas range, garbage disposal, and trash compactor. The window treatments also stay with the home, as well as the washer and dryer. You will enjoy the 2 plus car garage and the large fenced in back yard. The sellers are including a home warranty.

Key facts

• Screened in porch
• Updated
• Fenced yard

Tags

• UPDATED
• MOVE IN READY
• EAT IN KITCHEN
• HANDY SIDE DOOR
• FENCED YARD
• SCREENED IN PORCH

Property features AI

Exterior

• Parking: Detached garage with garage door opener (2-car)
• Utilities: Public water; Public sewer
• Home design: Single-family residence; Site-built home; 1 story
• Construction: Aluminum siding; Crawl space foundation; Built as site-built construction
• Exterior features: Corner, level lot; Chain link and wood fencing; Shingle roof

Interior

• Kitchen: Disposal; Refrigerator; Electric range
• Bedrooms: Total rooms: 5 (includes bedroom count within room total)
• Flooring: Carpet; Laminate
• Bathrooms: 1 full bathroom (main level)
• Heating & cooling: Natural gas forced-air heating; Central air conditioning; Ceiling fans
• Interior features: Walk-in closets; Ceiling fans; Eat-in kitchen; Laminate countertops
• Laundry & utility: Washer hookup (main level); Electric dryer hookup (main level)

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $150k.

Deal economics

• At list price, monthly cash flow is $44 ($528/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 $120k (20.2% below list).
• Recommended offer: $120k (20.2% below list) — sets the bar for 1% rule.
• Cap rate 6.6% 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: Tekoppel Elementary School (math 42% / reading 33%, grade F, #543 of 994 statewide, top 55%, 445 students, 73% FRL); Helfrich Park Stem Academy (math 36% / reading 47%, grade F, #108 of 330 statewide, top 34%, 517 students, 52% FRL); Francis Joseph Reitz High School (math 45% / reading 68%, grade C, #70 of 369 statewide, top 19%, 1,280 students, 44% FRL).
• Market conditions: 134 active listings in the ZIP; 9 comparable units currently listed for rent nearby; rentals at typical pace (median 22d 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 3 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 10y 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 $90k; list at $150k implies a 67% 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→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $119,580 (20.2% below list)

Questions for the listing agent

1. Built in 1946 — 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. 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?
6. 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.
7. 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.
8. 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: 0.80% ✗
• Cap rate: 6.65%
• Cash-on-cash: 1.26%
• DSCR: 1.06
• GRM: 10.4

CMA / ARV

• ARV (on-the-fly): $162,900
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3215 Forest Ave	0.24mi	3/1.5	1,088 (+0%)	2mo	$135,000	$124	85
3008 W Michigan St	0.33mi	3/1.5	1,144 (+5%)	2mo	$170,000	$149	72
114 Rupper Ave	0.33mi	2/1.0 (-1)	1,044 (-4%)	2mo	$176,000	$169	72
2622 Hillcrest Ter	0.34mi	3/1.0	1,014 (-7%)	3mo	$179,900	$177	71
2740 W Franklin St	0.37mi	2/2.0 (-1)	1,071 (-1%)	1mo	$151,320	$141	71
3213 Forest Ave	0.23mi	2/1.0 (-1)	1,000 (-8%)	2mo	$184,000	$184	69
3306 Forest Ave	0.29mi	2/1.0 (-1)	976 (-10%)	0mo	$85,000	$87	64
3416 Marion Ave	0.45mi	3/1.0	1,000 (-8%)	3mo	$170,000	$170	64
707 Wessel Ln	0.67mi	2/1.0 (-1)	1,072 (-1%)	1mo	$137,000	$128	61
301 S Elm Ave	0.52mi	3/1.0	1,200 (+10%)	2mo	$179,900	$150	57
3103 W Virginia St	0.44mi	2/1.0 (-1)	977 (-10%)	2mo	$185,000	$189	56
3209 Mount Vernon Ave	0.58mi	2/1.0 (-1)	1,002 (-8%)	1mo	$128,750	$128	54

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: -14.3%
• Equity multiple: 0.49×
• Total profit: $-21,554
• Equity at exit: $22,351

10-year hold

• IRR: -5.7%
• Equity multiple: 0.63×
• Total profit: $-15,426
• Equity at exit: $12,961

Cash invested: $41,972 (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 47712

• Home prices YoY: -32.1%
• Active inventory: 134
• Price-to-rent: 10.4×

Monthly cashflow live

• Estimated rent: $1,196 high
• Mortgage (P&I): −$786
• Tax from tax record: −$52 /mo · $626/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$251
• Net cashflow: $44

Break-even live

Break-even rent $1,140

Max offer price $149,900

Occupancy floor 91%

Sensitivity live

Price	-10% $129	-5% $86	+0% $44	+5% $2	+10% $-41
Rent	-10% $-50	-5% $-3	+0% $44	+5% $91	+10% $138
Rate	-1.0pp $119	-0.5pp $82	base $44	+0.5pp $5	+1.0pp $-34

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: $37,475
• Closing costs: $4,497
• Reserves months: —
• Total cash needed: —

Rent comps 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3200 Edgewood Dr Evansville, IN	2.0	1.0	720	$1,295	$1.80	14d	1	0.20mi
2727 Austin Ave Evansville, IN	2.0	1.0	952	$1,495	$1.57	22d	1	0.30mi
2708 W Franklin St Unit 4 Evansville, IN	2.0	1.0	1100	$900	$0.82	22d	1	0.45mi
2517 W Illinois St Evansville, IN	2.0	1.0	938	$960	$1.02	22d	1	0.52mi
406 Wills Ave Evansville, IN	2.0	1.0	832	$1,295	$1.56	14d	1	0.54mi
409 S Bosse Ave Evansville, IN	2.0	1.0	1050	$985	$0.94	22d	1	0.87mi
360 S Rosenberger Ave Evansville, IN	1.0–2.0	1.0	710	$980	$1.38	14d	9	0.90mi
2102 W Delaware St Evansville, IN	3.0	1.0	1083	$925	$0.85	14d	1	1.00mi
1900 W Indiana St Evansville, IN	3.0	1.0	960	$995	$1.04	22d	1	1.03mi

Listing history 6 events

1. 2026-05-07
   status Pending
2. 2026-05-06
   status Active
3. 2026-04-21
   status Pending
4. 2026-04-20
   listed $149,900 Active
5. 2016-08-18
   soldstatus $89,900 567-char remark

   Show marketing remark (567 chars)

   This Three Bedroom Bungalow is located on a corner lot and has been lovingly maintained. The home has a split bedroom design. One of the bedrooms has a walk-in closet. There are replacement windows throughout the home. The home has a light bright feel with windows in every room! Appliances included are the refrigerator, gas range, garbage disposal, and trash compactor. The window treatments also stay with the home, as well as the washer and dryer. You will enjoy the 2 plus car garage and the large fenced in back yard. The sellers are including a home warranty.

6. 2016-06-26
   listed $89,900 567-char remark

   Show marketing remark (567 chars)

   This Three Bedroom Bungalow is located on a corner lot and has been lovingly maintained. The home has a split bedroom design. One of the bedrooms has a walk-in closet. There are replacement windows throughout the home. The home has a light bright feel with windows in every room! Appliances included are the refrigerator, gas range, garbage disposal, and trash compactor. The window treatments also stay with the home, as well as the washer and dryer. You will enjoy the 2 plus car garage and the large fenced in back yard. The sellers are including a home warranty.

ⓘ 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: $950 · $79/mo
• Expected delta: +$324/yr (+$27/mo · 51.8%)

ⓘ 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 4/10 Moderate 3 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $14,350
• − Mortgage interest: −$8,397
• − Property taxes: −$626
• − Insurance: −$750
• − Repairs & maintenance: −$1,148
• − Management: −$1,148
• − Depreciation: −$4,361
• Taxable loss: −$2,079
• Est. tax savings @ 24.0%: +$499
• After-tax cash flow: $1,027/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): 25,444
• Household income: $68,494
• Rent vs Own: 34.6% rent · 65.4% own
• Severe rent burden: 797.0

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 (91%)
• Race & ethnicity: White 91% Two or more races 4% Hispanic / Latino 2% Black 2% Asian 2%
• Common ancestry: Romanian 3% Lithuanian 2% Italian 1%
• Foreign-born: 2% · China, Canada
• Languages at home: 97% English-only · Spanish 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: ▼ -101.86%
• Current HPI: 215.5153
• Rent YoY: —
• 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

+66.7% since first listed

6 events — show timeline

• 2026-05-07 Pending — IRMLS
• 2026-05-06 Relisted — IRMLS
• 2026-04-21 Pending — IRMLS
• 2026-04-20 Listed $149,900 IRMLS
• 2016-08-18 Sold (MLS) $89,900 IRMLS
• 2016-06-26 Listed $89,900 IRMLS

Property tax history

+14.7%/yr

Latest (2024): $626 · -8.4% YoY. Source: county tax records.