1424 Continental Dr · Evansville, IN 47715

$192,900

5 bd · 1.5 ba · 1,596 sqft · SingleFamily public records · 29 Days on market

Built 1972 0.25 ac lot Est $203k · at est.

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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 +17.8/30.0
• ARV discount +9.7/15.0
• DSCR +5.6/10.0
• 1% rule +4.3/10.0
• Schools +3.3/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

You may be surprised at the living space available in this 4 bedroom, 1 1/2 bath home located on the east side of Evansville near entertainment, shopping, restaurants and health care facilities. Recent updates include a new roof, vinyl plank flooring in most of the house, a completely remodeled full bathroom and some painting inside the home. A Living Room is located next to the nice sized "Eat-In" Kitchen. This room could also be used as a Dining Room. Electrical updates were also completed in the house. As a bonus there is an extra room that could be used as an office, playroom or the room of your choosing. You will enjoy a Family Room that features a new sliding glass door lead

Key facts

• Extra room
• Sliding glass door
• New roof

Tags

• NEW ROOF
• REMODELED FULL BATHROOM
• VINYL PLANK FLOORING
• EXTRA ROOM
• SLIDING GLASS DOOR
• OUTDOOR ENTERTAINMENT AREA

Property features AI

Finance

• HOA & community: Sidewalks in the community

Exterior

• Parking: Concrete parking
• Utilities: Public water; Public sewer
• Home design: Single-family residence; Site-built home; One story
• Construction: Aluminum siding; Brick exterior; Shingle roof; Crawl space foundation; Built as site-built construction
• Exterior features: Deck; Patio; Chain link fencing; Level lot; Shed(s)

Interior

• Kitchen: Refrigerator; Electric cooktop; Electric oven; Disposal; Exhaust fan
• Flooring: Carpet; Vinyl
• Bathrooms: One full bathroom; One half bathroom; Two main-level bathrooms
• Heating & cooling: Natural gas heating; Forced air heat; Central air conditioning
• Interior features: Window treatments; Disposal; Exhaust fan; Gas water heater; Water heater; One fireplace (none listed as functional features)
• Laundry & utility: Washer; Dryer; Laundry located on main level

What this means for you Summary

Snapshot

• This is a 5-bed/1.5-bath single-family listed at $193k.

Deal economics

• At list price, monthly cash flow is $157 ($2k/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 $179k (7.4% below list).
• Recommended offer: $179k (7.4% below list) — sets the bar for 1% rule.
• Cap rate 7.3% 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: Hebron Elementary School (math 37% / reading 35%, grade F, #577 of 994 statewide, top 59%, 758 students, 56% 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).
• Market conditions: 181 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 508 units permitted in Vanderburgh County in 2024 (32 in 5+ unit buildings).
• This rent runs 35% of the median local income ($61k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

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

• It's been on market 29 days — a 2% lower offer ($190k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• 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 $178,620 (7.4% below list)

Questions for the listing agent

1. Built in 1972 — 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: 0.93% ✗
• Cap rate: 7.27%
• Cash-on-cash: 3.49%
• DSCR: 1.16
• GRM: 9.0

CMA / ARV

• ARV (on-the-fly): $202,692
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
4904 Sweetser Ave	0.65mi	4/2.0 (-1)	1,622 (+2%)	3mo	$187,000	$115	58
1807 Bonnie View Dr	0.57mi	4/2.0 (-1)	1,767 (+11%)	16mo	$225,000	$127	35

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: -10.8%
• Equity multiple: 0.61×
• Total profit: $-21,263
• Equity at exit: $28,762

10-year hold

• IRR: -1.5%
• Equity multiple: 0.89×
• Total profit: $-5,706
• Equity at exit: $16,678

Cash invested: $54,012 (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 47715

• Active inventory: 181
• Price-to-rent: 9.0×

Monthly cashflow live

• Estimated rent: $1,786 medium
• Mortgage (P&I): −$1,012
• Tax from tax record: −$162 /mo · $1,942/yr
• Insurance: −$80
• HOA: −$0
• Vacancy / Maint / Mgmt: −$375
• Net cashflow: $157

Break-even live

Break-even rent $1,587

Max offer price $192,900

Occupancy floor 86%

Sensitivity live

Price	-10% $266	-5% $212	+0% $157	+5% $103	+10% $48
Rent	-10% $16	-5% $87	+0% $157	+5% $228	+10% $298
Rate	-1.0pp $254	-0.5pp $206	base $157	+0.5pp $107	+1.0pp $56

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: $48,225
• Closing costs: $5,787
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1320 Lee Ct Evansville, IN	1.0–4.0	1.0–1.5	1007	$1,499	$1.49	15d	36	1.30mi

Listing history 10 events

1. 2026-06-13
   statusdays on market $192,900 Pending 29 DOM
2. 2026-06-10
   days on market $192,900 Active 28 DOM
3. 2026-06-09
   days on market $192,900 Active 27 DOM
4. 2026-06-08
   days on market $192,900 Active 26 DOM
5. 2026-06-07
   days on market $192,900 Active 25 DOM
6. 2026-06-02
   days on market $192,900 Active 20 DOM
7. 2026-06-01
   days on market $192,900 Active 19 DOM
8. 2026-05-31
   days on market $192,900 Active 18 DOM
9. 2026-05-30
   days on market $192,900 Active 17 DOM
10. 2026-05-11
    listed $192,900 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: $1,942 · $162/mo
• Projected year-2 tax: $1,942 · $162/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 4/10 Moderate FEMA zone X (unshaded) · 22% 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 3/10 Moderate 3 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $21,434
• − Mortgage interest: −$10,805
• − Property taxes: −$1,942
• − Insurance: −$964
• − Repairs & maintenance: −$1,715
• − Management: −$1,715
• − Depreciation: −$5,612
• Taxable loss: −$1,319
• Est. tax savings @ 24.0%: +$317
• After-tax cash flow: $2,204/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): 29,280
• Household income: $60,897
• Rent vs Own: 50.4% rent · 49.6% own
• Severe rent burden: 1652.0

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 (74%)
• Race & ethnicity: White 74% Black 13% Hispanic / Latino 6% Two or more races 4% Asian 2% Native American 1%
• Hispanic origin (detail): Mexican 5%
• Common ancestry: Slovak 3% Romanian 2% Italian 2%
• Foreign-born: 6% · Canada, China
• Languages at home: 93% English-only · Spanish 4% Chinese 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: ▼ -113.01%
• Current HPI: 195.7299
• 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

1 event — show timeline

• 2026-05-11 Listed $192,900 IRMLS

Property tax history

+3.1%/yr

Latest (2024): $1,942 · +2.4% YoY. Source: county tax records.