2201 S Walnut Ln · Evansville, IN 47714

$95,000

2 bd · 1.0 ba · 640 sqft · SingleFamily public records · 123 Days on market

Built 1950 6,534 sqft lot Est $83k · 14% over

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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 +21.5/30.0
• DSCR +6.9/10.0
• 1% rule +5.1/10.0
• Rent growth +4.5/5.0
• Schools +3.3/10.0
• Livability +3.2/5.0
• Condition / age +2.5/5.0
• ARV discount +1.1/15.0
• Appreciation +0.0/10.0

Listing remarks

This is a package deal with tenants in 2 of the 3 properties. Properties include: 213 215 W Maryland $820/month 643 E Maryland $650/month 2201 S Walnut $550/month $5120 per month/$61,440 annually

Key facts

• 6,534 sq ft lot
• Garage
• Built 1950

Property features AI

Finance

• Other: Property listed as residential single family residence
• Financial info: No investor or income/expense details provided
• HOA & community: No HOA information provided

Exterior

• Parking: Detached 1-car garage
• Security: No security details provided
• Utilities: Public water; Public sewer
• Home design: Single-story, site-built single family home; Vinyl siding exterior
• Construction: Vinyl siding construction; No year built provided
• Exterior features: Level lot; Lot dimensions approximately 50 x 135; Lot size about 0.15 acres

Interior

• Kitchen: No kitchen appliance details provided
• Bedrooms: Bedrooms (see listing for count and locations)
• Flooring: No flooring details provided
• Bathrooms: One full bathroom on the main level
• Heating & cooling: Natural gas heating; Window air-conditioning units
• Interior features: Crawl space basement; Total of 4 rooms
• Laundry & utility: Main level laundry

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $95k.

Deal economics

• At list price, monthly cash flow is $142 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($957 rent vs $95k).
• Recommended offer: $84k (12.0% below list) — sets the bar for market timing.
• Cap rate 8.1% 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: Caze Elementary School (math 17% / reading 17%, grade F, #837 of 994 statewide, top 86%, 393 students, 79% FRL); Mcgary Middle School (math 8% / reading 15%, grade F, #311 of 330 statewide, top 94%, 351 students, 81% FRL); William Henry Harrison High School (math 29% / reading 54%, grade F, #211 of 369 statewide, top 58%, 1,158 students, 61% FRL) — zoned schools average 73% FRL vs 50% district-wide (23 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 23% at this address vs 40% district-wide (-16 pts) — the specific schools serving this property underperform the Evansville Vanderburgh School Corporation average; the district grade overstates school quality for this exact location.
• Market conditions: Rents rising fast (+7.9%/yr); 188 active listings in the ZIP; 16 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 $657 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 7.9% rent growth), your $27k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 123 days — a 12% lower offer ($84k) is reasonable based on typical stale-listing flexibility.

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 $83,600 (12.0% below list)

Questions for the listing agent

1. It's been on market 123 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1950 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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?
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: 1.01% ✓
• Cap rate: 8.09%
• Cash-on-cash: 6.41%
• DSCR: 1.29
• GRM: 8.3

CMA / ARV

• ARV (on-the-fly): $83,200
• Comps found: 8

Show comp detail 8 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2112 S Walnut Ln	0.04mi	2/1.0	640 (0%)	16mo	$128,700	$201	84
2205 S Walnut Ln	0.01mi	2/1.0	690 (+8%)	12mo	$90,000	$130	76
2039 Hicks Dr	0.42mi	2/1.0	660 (+3%)	2mo	$92,000	$139	73
2204 S Lombard Ave	0.10mi	2/1.0	720 (+12%)	14mo	$131,000	$182	63
1930 Jeanette Ave	0.35mi	2/1.0	676 (+6%)	17mo	$69,900	$103	60
3517 Fickas	0.49mi	1/1.0 (-1)	696 (+9%)	15mo	$64,000	$92	45
1938 Jeanette Ave	0.34mi	2/1.0	728 (+14%)	20mo	$80,000	$110	44
1706 Hawthorne Ave	0.54mi	2/1.0	720 (+12%)	18mo	$34,000	$47	39

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 · 7.86% rent growth · sell at horizon

5-year hold

• IRR: -1.4%
• Equity multiple: 0.95×
• Total profit: $-1,449
• Equity at exit: $14,165

10-year hold

• IRR: 12.7%
• Equity multiple: 2.23×
• Total profit: $32,619
• 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 →

ZIP-level market 47714

• Rents YoY: 7.9%
• Active inventory: 188
• Price-to-rent: 8.3×

Monthly cashflow live

• Estimated rent: $957 high
• Mortgage (P&I): −$498
• Tax from tax record: −$76 /mo · $915/yr
• Insurance: −$40
• HOA: −$0
• Vacancy / Maint / Mgmt: −$201
• Net cashflow: $142

Break-even live

Break-even rent $777

Max offer price $95,000

Occupancy floor 80%

Sensitivity live

Price	-10% $196	-5% $169	+0% $142	+5% $115	+10% $88
Rent	-10% $66	-5% $104	+0% $142	+5% $180	+10% $218
Rate	-1.0pp $190	-0.5pp $166	base $142	+0.5pp $117	+1.0pp $92

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
• Reserves months: —
• Total cash needed: —

Rent comps 16 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2501 Pollack Ave Evansville, IN	2.0	1.0	648	$1,080	$1.67	22d	1	0.51mi
3700 Justus Ct Evansville, IN	1.0–2.0	1.0–2.0	790	$975	$1.23	22d	1	0.69mi
1621 Burdette Ave Evansville, IN	2.0	1.0	720	$1,050	$1.46	22d	1	0.74mi
1320 Lee Ct Evansville, IN	1.0–4.0	1.0–1.5	1007	$1,032	$1.03	14d	36	0.78mi
1290 Hatfield Dr Unit 1266 Evansville, IN	1.0	1.0	600	$800	$1.33	22d	1	0.93mi
1290 Hatfield Dr Unit 1330 Evansville, IN	1.0	1.0	550	$697	$1.27	22d	1	0.93mi
1290 Hatfield Dr Unit 1150 Evansville, IN	1.0	1.0	550	$775	$1.41	14d	1	0.93mi
1290 Hatfield Dr Unit 1378 Evansville, IN	1.0	1.0	550	$775	$1.41	22d	1	0.93mi
4689 Covert Ave Unit 4637 Evansville, IN	1.0	1.0	610	$695	$1.14	22d	1	0.96mi
4689 Covert Ave Unit 4629 Evansville, IN	2.0	1.0	725	$775	$1.07	14d	1	0.96mi
1165 Shiloh Sq Evansville, IN	1.0–2.0	1.0–2.0	907	$1,145	$1.26	14d	15	1.07mi
1909 Taylor Ave Evansville, IN	2.0	1.0	700	$1,200	$1.71	14d	1	1.39mi
5301 Stonehedge Dr Evansville, IN	1.0–2.0	1.0–2.0	914	$1,170	$1.28	14d	19	1.41mi
2340 Sunburst Blvd Unit 2210-104 Evansville, IN	1.0	1.0	631	$785	$1.24	22d	1	1.48mi
665 Saint Mary's Dr Unit 3 Evansville, IN	1.0	1.0	550	$900	$1.64	22d	1	1.48mi
1100 Erie Ave Evansville, IN	1.0–3.0	1.0–2.0	962	$1,188	$1.23	22d	2	1.49mi

Listing history 6 events

1. 2026-06-07
   statusdays on market $95,000 Pending 123 DOM
2. 2026-06-02
   days on market $95,000 Active 120 DOM
3. 2026-06-01
   days on market $95,000 Active 119 DOM
4. 2026-05-31
   days on market $95,000 Active 118 DOM
5. 2026-05-30
   days on market $95,000 Active 117 DOM
6. 2026-02-02
   listed $95,000 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: $915 · $76/mo
• Projected year-2 tax: $915 · $76/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 · 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 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: $11,485
• − Mortgage interest: −$5,321
• − Property taxes: −$915
• − Insurance: −$475
• − Repairs & maintenance: −$919
• − Management: −$919
• − Depreciation: −$2,764
• Taxable income: $172
• Est. tax owed @ 24.0%: −$41
• After-tax cash flow: $1,663/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): 32,132
• Household income: $55,910
• Rent vs Own: 39.8% rent · 60.2% own
• Severe rent burden: 1394.0

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 (71%)
• Race & ethnicity: White 71% Black 17% Two or more races 6% Hispanic / Latino 6% Asian 1%
• Hispanic origin (detail): Mexican 3%
• Common ancestry: Italian 3% Lithuanian 2% Slovak 1%
• Foreign-born: 6% · Canada, China
• Languages at home: 92% English-only · Spanish 4% Other Asian/Pacific 1% French/Haitian/Cajun 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: ▼ -124.80%
• Current HPI: 211.1755
• Rent YoY: ▲ 7.86%
• 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

• 2026-02-02 Listed $95,000 IRMLS

Property tax history

-2.8%/yr

Latest (2024): $915 · +0.2% YoY. Source: county tax records.