202 Waggoner Ave · Evansville, IN 47713

$95,000

4 bd · 1.0 ba · 1,180 sqft · SingleFamily · 94 Days on market

Built 1940 Fair condition 8,499 sqft lot $81/sqft · 32% below area Est $139k · 32% under

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Why this score? — see what drove the B+ 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 +30.0/30.0
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Rent growth +5.0/5.0
• Schools +3.6/10.0
• Livability +3.2/5.0
• Condition / age +2.2/5.0
• Appreciation +0.0/10.0

Listing remarks

Sellers will break up the package. Attention Investors this is a package of 13 Properties. See the list on Addendum. 1011 Cherry St rents for $875.00. 1023 Cherry St rents for $973.00. 1105 E Gum St rents for $990.00. 1114 Cherry rents for $1050.00. 1130 S Grand rents for $983.00. 1219 S Linwood 2 units Rents for $1,720.00. 1301 & 1303 E Sycamore St Rents for $500.00 & 778.00 1712 Culverson rents for $990.00. 1829 Marshall rents for $801.00. 202 Waggoner Ave Rents for $788.00. 514 E Illinois Rents for $1,265.00. 764 Cross rents for $974.00. 202 Sweetser rents for $675.00. Total for package is 1,333,600.

Key facts

• 8,499 sq ft lot
• Built 1940
• Listed 93 days

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $95k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $489 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $95k).
• Recommended offer: $86k (9.0% below list) — sets the bar for market timing.
• Cap rate 12.5% vs local median 4.4% 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: Glenwood Leadership Academy (math 10% / reading 12%, grade F, #909 of 994 statewide, top 92%, 416 students, 88% 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: Rents rising fast (+9.9%/yr); 144 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals lingering (median 70d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; lower-income renter base — watch delinquency; 508 units permitted in Vanderburgh County in 2024 (32 in 5+ unit buildings).
• This rent runs 43% of the median local income ($41k/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 $657 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 8.0% rent growth), your $27k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 94 days — a 9% lower offer ($86k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1940 — 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 $86,450 (9.0% below list)

Questions for the listing agent

1. It's been on market 94 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
3. Built in 1940 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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.
9. 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.
10. 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: 1.53% ✓
• Cap rate: 12.47%
• Cash-on-cash: 22.06%
• DSCR: 1.98
• GRM: 5.5

CMA / ARV

• ARV (median comp): $139,280
• List price: $95,000
• Delta: -31.79%
• 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
300 Waggoner Ave	0.09mi	3/1.0 (-1)	1,232 (+4%)	8mo	$146,500	$119	77
312 Monroe Ave	0.32mi	3/1.0 (-1)	1,176 (-0%)	14mo	$130,000	$111	68
613 Madison Ave	0.50mi	3/1.0 (-1)	1,176 (-0%)	6mo	$165,000	$140	66
1800 Culver Dr	0.15mi	3/2.0 (-1)	1,257 (+6%)	12mo	$132,900	$106	63
110 Jefferson Ave	0.44mi	3/1.0 (-1)	1,064 (-10%)	5mo	$166,000	$156	54
930 Judson St	0.60mi	4/1.0	1,104 (-6%)	10mo	$120,000	$109	53
116 Madison Ave	0.39mi	3/2.0 (-1)	1,313 (+11%)	13mo	$175,350	$134	43
1906 S Evans Ave	0.60mi	3/1.0 (-1)	1,092 (-8%)	14mo	$130,000	$119	43
1921 Shadewood Ave	0.68mi	3/1.0 (-1)	1,037 (-12%)	5mo	$135,000	$130	39
717 E Blackford Ave	0.74mi	3/1.0 (-1)	1,303 (+10%)	7mo	$29,250	$22	37
926 Line St	0.62mi	3/1.0 (-1)	1,014 (-14%)	12mo	$135,000	$133	33
827 Judson St	0.68mi	3/1.0 (-1)	1,008 (-15%)	12mo	$57,000	$57	29

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 · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 20.3%
• Equity multiple: 1.88×
• Total profit: $23,429
• Equity at exit: $14,165

10-year hold

• IRR: 31.7%
• Equity multiple: 4.59×
• Total profit: $95,463
• Equity at exit: $8,214

Cash invested: $26,600 (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 →

Buyer's market Market conditions within 1.0 mi — comparable homes for sale

Active competition Active MLS

• For sale now: 6 active · 4 under contract
• Months of supply: 7.2 mo (14%/mo absorbed)
• Median asking: $85,000 ($77/sqft)
• Median days on market: 56 d
• This list price: 67% of active listings are priced below it
• ARV vs active asking: +52.6% above current asking $/sqft

Closed sales set the value; these active listings set current market conditions and a practical price ceiling.

ZIP-level market 47713

• Home prices YoY: -34.1%
• Rents YoY: 9.9%
• Active inventory: 144
• Price-to-rent: 5.5×

Monthly cashflow live

• Estimated rent: $1,450 medium
• Mortgage (P&I): −$498
• Tax est. 1.5%: −$119 /mo · $1,425/yr
• Insurance: −$40
• HOA: −$0
• Vacancy / Maint / Mgmt: −$304
• Net cashflow: $489

Break-even live

Break-even rent $831

Max offer price $95,000

Occupancy floor 61%

Sensitivity live

Price	-10% $555	-5% $522	+0% $489	+5% $456	+10% $423
Rent	-10% $374	-5% $432	+0% $489	+5% $546	+10% $603
Rate	-1.0pp $537	-0.5pp $513	base $489	+0.5pp $464	+1.0pp $439

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: $23,750
• Closing costs: $2,850
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
638 Jackson Ave Evansville, IN	4.0	1.0	1176	$1,495	$1.27	70d	1	0.45mi
827 Judson St Evansville, IN	3.0	1.0	1008	$1,295	$1.28	62d	1	0.68mi
734 Bayard Park Dr Evansville, IN	3.0	2.0	1000	$1,425	$1.43	70d	1	0.94mi

Property features AI

Exterior

• Utilities: Public waterPublic sewer
• Home design: Single-family site-built homeOne story
• Construction: Vinyl sidingSlab foundationBuilt as site-built construction
• Exterior features: Level lotShed(s) on property

Interior

• Bathrooms: One full bathroom (on the main level)
• Heating & cooling: Central air conditioningNatural gas heating
• Interior features: Seven total roomsMain-level laundry
• Laundry & utility: Laundry located on the main level

Listing history 50 events

1. 2026-08-08
   days on market $95,000 Active 94 DOM
2. 2026-08-07
   days on market $95,000 Active 93 DOM
3. 2026-08-06
   days on market $95,000 Active 92 DOM
4. 2026-08-05
   days on market $95,000 Active 91 DOM
5. 2026-08-04
   days on market $95,000 Active 90 DOM
6. 2026-08-03
   days on market $95,000 Active 89 DOM
7. 2026-07-31
   days on market $95,000 Active 86 DOM
8. 2026-07-29
   days on market $95,000 Active 84 DOM
9. 2026-07-27
   days on market $95,000 Active 82 DOM
10. 2026-07-25
    days on market $95,000 Active 80 DOM
11. 2026-07-24
    days on market $95,000 Active 79 DOM
12. 2026-07-23
    days on market $95,000 Active 78 DOM
13. 2026-07-22
    days on market $95,000 Active 77 DOM
14. 2026-07-21
    days on market $95,000 Active 76 DOM
15. 2026-07-18
    days on market $95,000 Active 73 DOM
16. 2026-07-16
    days on market $95,000 Active 71 DOM
17. 2026-07-16
    days on market $95,000 Active 70 DOM
18. 2026-07-14
    days on market $95,000 Active 69 DOM
19. 2026-07-13
    days on market $95,000 Active 68 DOM
20. 2026-07-12
    remarks 616-char remark
21. 2026-07-12
    days on market $95,000 Active 67 DOM
22. 2026-07-11
    days on market $95,000 Active 66 DOM
23. 2026-07-10
    days on market $95,000 Active 65 DOM
24. 2026-07-09
    days on market $95,000 Active 64 DOM
25. 2026-07-08
    days on market $95,000 Active 63 DOM
26. 2026-07-07
    days on market $95,000 Active 62 DOM
27. 2026-07-06
    days on market $95,000 Active 61 DOM
28. 2026-07-05
    days on market $95,000 Active 60 DOM
29. 2026-07-04
    days on market $95,000 Active 59 DOM
30. 2026-07-03
    days on market $95,000 Active 58 DOM
31. 2026-07-02
    days on market $95,000 Active 57 DOM
32. 2026-07-01
    days on market $95,000 Active 56 DOM
33. 2026-06-30
    days on market $95,000 Active 55 DOM
34. 2026-06-29
    days on market $95,000 Active 54 DOM
35. 2026-06-28
    days on market $95,000 Active 53 DOM
36. 2026-06-28
    days on market $95,000 Active 52 DOM
37. 2026-06-27
    days on market $95,000 Active 51 DOM
38. 2026-06-25
    days on market $95,000 Active 49 DOM
39. 2026-06-23
    days on market $95,000 Active 47 DOM
40. 2026-06-22
    days on market $95,000 Active 46 DOM
41. 2026-06-18
    days on market $95,000 Active 43 DOM
42. 2026-06-17
    days on market $95,000 Active 42 DOM
43. 2026-06-16
    days on market $95,000 Active 41 DOM
44. 2026-06-15
    days on market $95,000 Active 40 DOM
45. 2026-06-14
    days on market $95,000 Active 38 DOM
46. 2026-06-13
    days on market $95,000 Active 37 DOM
47. 2026-06-10
    days on market $95,000 Active 35 DOM
48. 2026-06-09
    days on market $95,000 Active 34 DOM
49. 2026-06-08
    days on market $95,000 Active 33 DOM
50. 2026-06-07
    days on market $95,000 Active 32 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X · 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: $17,399
• − Mortgage interest: −$5,321
• − Property taxes: −$1,425
• − Insurance: −$475
• − Repairs & maintenance: −$1,392
• − Management: −$1,392
• − Depreciation: −$2,764
• Taxable income: $4,630
• Est. tax owed @ 24.0%: −$1,111
• After-tax cash flow: $4,756/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.

Condition & rehab AI · 1 photo

Fair 45/100 Moderate rehab Est. rehab $29,500–$53,100 screening

This property requires moderate exterior repairs and some maintenance. Painting the siding and improving landscaping can significantly enhance its value.

Repairs flagged

• Moderate Exterior siding — Weathered and slightly stained
• Minor Driveway and sidewalk — Concrete appears in fair condition

Value-add opportunities

• Both Paint exterior siding — Fresh paint can improve curb appeal and value ↑
• Rental Landscaping — Well-maintained landscaping can attract tenants ↑

ⓘ Rehab cost is a screening estimate — Moderate scope × the home's square footage at US $/sqft rules of thumb (the same model as the Flip Finder). Get contractor quotes + a written scope before underwriting.

F Composite school gradezoned avg 36/100

Zoned Schools

Elementary Glenwood Leadership Academy F IN #909/994 Nat'l #38,478/41,679 Middle Helfrich Park Stem Academy F IN #108/330 Nat'l #5,602/14,009 High Francis Joseph Reitz High School C IN #70/369 Nat'l #4,271/17,239

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

C Composite livability gradescore 63/100

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 · 187,038 people
• City population: 146,793
• Metro: Evansville, IN-KY
• Population (ZIP): 9,988
• Household income: $40,873
• Rent vs Own: 61.6% rent · 38.4% own
• Severe rent burden: 6% of renters

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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%

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Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.60)
• Race & ethnicity: White 50% Black 39% Two or more races 7% Hispanic / Latino 3% Pacific Islander 1% Asian 1%
• Common ancestry: Romanian 2% Lithuanian 1% Italian 1%
• Foreign-born: 5% · Canada
• Languages at home: 96% English-only · Spanish 2% Tagalog/Filipino 1% French/Haitian/Cajun 1%

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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: ▼ -119.22%
• Current HPI: 229.9312
• Rent YoY: ▲ 9.87%
• Metro: Evansville, IN-KY
• State GDP YoY: ▲ 2.90%
• F500 in state: 18

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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

Property features AI

Exterior

• Utilities: Public waterPublic sewer
• Home design: Single-family site-built homeOne story
• Construction: Vinyl sidingSlab foundationBuilt as site-built construction
• Exterior features: Level lotShed(s) on property

Interior

• Bathrooms: One full bathroom (on the main level)
• Heating & cooling: Central air conditioningNatural gas heating
• Interior features: Seven total roomsMain-level laundry
• Laundry & utility: Laundry located on the main level

Price history

1 event — show timeline

• 2026-05-05 Listed $95,000 IRMLS