1400 N Boeke Rd · Evansville, IN 47711

$130,000

4 bd · 2.0 ba · 1,511 sqft · SingleFamily public records · 33 Days on market

Built 1924 7,405 sqft lot Est $209k · 38% under ↓ 26% since listing

---

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 +23.3/30.0
• ARV discount +15.0/15.0
• DSCR +7.5/10.0
• 1% rule +5.3/10.0
• Rent growth +4.2/5.0
• Schools +3.3/10.0
• Livability +3.2/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Don't miss out on this spacious four bedroom, two full bathroom house centrally located on a corner lot close to parks, restaurants and shopping! With over 1,500 square feet of living space plus a partial walk-up basement, there is embow room galore! Home features a large family room with a beautiful fireplace and attractive laminate flooring, and an eat-in kitchen with bright white cabinets and lots of natural light. Two bedrooms and a full bathroom round out the mail floor. Upstairs you will find two additional bedrooms and plenty of storage space in the bonus room. Downstairs includes a nice flex space -- perfect or activities or TV watching --plus a full bathroom and laundry room. The

Key facts

• Large family room
• Natural light
• Bonus room

Tags

• CORNER LOT
• PARTIAL WALK-UP BASEMENT
• LARGE FAMILY ROOM
• EAT-IN KITCHEN
• NATURAL LIGHT
• BONUS ROOM

Property features AI

Exterior

• Parking: Detached off-street garage (2 spaces)
• Utilities: Public water; Public sewer
• Home design: Single-family residence (site-built); 2-story
• Construction: Aluminum siding
• Exterior features: Covered porch; Fenced yard (full chain-link); Shed(s)

Interior

• Kitchen: Dishwasher; Refrigerator; Gas range
• Bedrooms: Total rooms: 7
• Bathrooms: 2 full bathrooms; 1 main-level bathroom
• Heating & cooling: Forced air heating; Central air conditioning; Ceiling fan cooling option
• Interior features: Ceiling fans; Eat-in kitchen; Living room fireplace; Partial basement
• Laundry & utility: Laundry on lower level

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $130k.

Deal economics

• At list price, monthly cash flow is $239 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $130k).
• Recommended offer: $126k (3.0% below list) — sets the bar for market timing.
• Cap rate 8.5% 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: Vogel Elementary School (math 38% / reading 33%, grade F, #584 of 994 statewide, top 59%, 523 students, 64% FRL); 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 schools at 47% FRL track the district average.
• 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 $899 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 6.7% rent growth), your $36k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 33 days — a 3% lower offer ($126k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts; this cycle's ask has dropped $45k (26%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1924 — 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 $126,100 (3.0% below list)

Questions for the listing agent

1. It's been on market 33 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1924 — 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. 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: 1.03% ✓
• Cap rate: 8.50%
• Cash-on-cash: 7.87%
• DSCR: 1.35
• GRM: 8.1

CMA / ARV

• ARV (on-the-fly): $208,518
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2258 E Florida St	0.15mi	4/2.0	1,580 (+5%)	3mo	$206,000	$130	83
2507 Vogel Rd	0.15mi	3/2.0 (-1)	1,419 (-6%)	3mo	$200,000	$141	75
2174 Maxwell Ave	0.36mi	4/2.0	1,464 (-3%)	13mo	$201,701	$138	68
1015 N Alvord Blvd	0.27mi	3/1.5 (-1)	1,626 (+8%)	3mo	$220,000	$135	65
2359 E Tennessee St	0.04mi	3/1.5 (-1)	1,688 (+12%)	8mo	$168,500	$100	65
2420 Vogel Rd	0.14mi	3/2.0 (-1)	1,648 (+9%)	11mo	$166,000	$101	65
900 N Alvord Blvd	0.35mi	3/2.0 (-1)	1,445 (-4%)	11mo	$200,000	$138	62
2625 Vogel Rd	0.22mi	3/1.5 (-1)	1,350 (-11%)	6mo	$205,000	$152	60
1701 N Thomas Ave	0.39mi	3/1.5 (-1)	1,296 (-14%)	0mo	$220,000	$170	51
901 N Alvord Blvd	0.34mi	3/1.0 (-1)	1,347 (-11%)	11mo	$182,000	$135	48
2015 E Michigan St	0.73mi	3/2.0 (-1)	1,568 (+4%)	12mo	$220,000	$140	45
2309 E Michigan St	0.62mi	3/2.0 (-1)	1,344 (-11%)	14mo	$173,000	$129	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 · 6.72% rent growth · sell at horizon

5-year hold

• IRR: -0.5%
• Equity multiple: 0.98×
• Total profit: $-685
• Equity at exit: $19,383

10-year hold

• IRR: 12.5%
• Equity multiple: 2.15×
• Total profit: $41,912
• Equity at exit: $11,240

Cash invested: $36,400 (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: 8.1×

Monthly cashflow live

• Estimated rent: $1,339 medium
• Mortgage (P&I): −$682
• Tax from tax record: −$83 /mo · $1,001/yr
• Insurance: −$54
• HOA: −$0
• Vacancy / Maint / Mgmt: −$281
• Net cashflow: $239

Break-even live

Break-even rent $1,037

Max offer price $130,000

Occupancy floor 77%

Sensitivity live

Price	-10% $312	-5% $276	+0% $239	+5% $202	+10% $165
Rent	-10% $133	-5% $186	+0% $239	+5% $292	+10% $345
Rate	-1.0pp $304	-0.5pp $272	base $239	+0.5pp $205	+1.0pp $171

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: $32,500
• Closing costs: $3,900
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
913 N Spring St Evansville, IN	3.0	1.5	1232	$1,350	$1.10	14d	1	0.47mi
210 S Weinbach Ave Evansville, IN	3.0	1.0	1080	$1,450	$1.34	21d	1	1.15mi

Listing history 6 events

1. 2026-05-17
   status Pending
2. 2026-05-07
   status Active
3. 2026-05-07
   historical
4. 2026-04-20
   status Active
5. 2026-04-20
   price $130,000
6. 2026-04-07
   listed $175,000 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: $1,001 · $83/mo
• Projected year-2 tax: $1,053 · $88/mo
• Expected delta: +$52/yr (+$4/mo · 5.2%)

ⓘ 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: $16,073
• − Mortgage interest: −$7,282
• − Property taxes: −$1,001
• − Insurance: −$650
• − Repairs & maintenance: −$1,286
• − Management: −$1,286
• − Depreciation: −$3,782
• Taxable income: $786
• Est. tax owed @ 24.0%: −$189
• After-tax cash flow: $2,677/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

-25.7% since first listed

6 events — show timeline

• 2026-05-17 Pending — IRMLS
• 2026-05-07 Relisted — IRMLS
• 2026-05-07 Delisted — IRMLS
• 2026-04-20 Relisted — IRMLS
• 2026-04-20 Price Changed $130,000 IRMLS
• 2026-04-07 Listed $175,000 IRMLS

Property tax history

+1.2%/yr

Latest (2024): $1,001 · +6.1% YoY. Source: county tax records.