1114 N Main St · Evansville, IN 47711

$68,000

5 bd · 1.0 ba · 1,470 sqft · SingleFamily public records · 216 Days on market

Built 1914 4,625 sqft lot Est $74k · 7% 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 +10.9/15.0
• DSCR +10.0/10.0
• 1% rule +9.9/10.0
• 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 MLS

Great investment opportunity! This property is available for purchase in a package with 47 other single family homes and 2 duplexes.

Key facts

• 4,625 sq ft lot
• Built 1914
• Listed 216 days

What this means for you Summary

Snapshot

• This is a 5-bed/1.0-bath single-family listed at $68k.

Deal economics

• At list price, monthly cash flow is $267 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $68k).
• Recommended offer: $60k (12.0% below list) — sets the bar for market timing.
• Cap rate 11.0% 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: Delaware Elementary School (math 22% / reading 16%, grade F, #829 of 994 statewide, top 84%, 338 students, 90% 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).
• 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 $470 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 6.7% rent growth), your $19k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 216 days — a 12% lower offer ($60k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 8y ago; this cycle's ask has dropped $8k (11%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $30k; list at $68k implies a 123% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 2.6% of price; built in 1914 — 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 $59,840 (12.0% below list)

Questions for the listing agent

1. It's been on market 216 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 1914 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
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: 1.49% ✓
• Cap rate: 11.01%
• Cash-on-cash: 16.83%
• DSCR: 1.75
• GRM: 5.6

CMA / ARV

• ARV (on-the-fly): $73,500
• Comps found: 5

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
415 E Franklin St	0.65mi	4/2.0 (-1)	1,458 (-1%)	2mo	$20,000	$14	58
922 Edgar St	0.48mi	4/1.0 (-1)	1,631 (+11%)	15mo	$147,000	$90	42
215 Wedeking Ave	0.68mi	4/1.5 (-1)	1,584 (+8%)	14mo	$185,000	$117	37
1216 N Second Ave	0.67mi	4/1.0 (-1)	1,600 (+9%)	18mo	$79,900	$50	34
915 N Evans St	0.68mi	4/1.5 (-1)	1,274 (-13%)	8mo	$35,000	$27	33

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: 12.6%
• Equity multiple: 1.52×
• Total profit: $9,981
• Equity at exit: $10,139

10-year hold

• IRR: 24.4%
• Equity multiple: 3.53×
• Total profit: $48,248
• Equity at exit: $5,879

Cash invested: $19,040 (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: 5.6×

Monthly cashflow live

• Estimated rent: $1,013 medium
• Mortgage (P&I): −$357
• Tax from tax record: −$149 /mo · $1,782/yr
• Insurance: −$28
• HOA: −$0
• Vacancy / Maint / Mgmt: −$213
• Net cashflow: $267

Break-even live

Break-even rent $675

Max offer price $68,000

Occupancy floor 69%

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: $17,000
• Closing costs: $2,040
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
121 E Florida St Evansville, IN	4.0	2.0	1702	$100	$0.06	21d	1	0.17mi
109 E Eichel Ave Unit B Evansville, IN	4.0	2.0	1228	$1,257	$1.02	21d	1	0.25mi

Listing history 7 events

1. 2026-04-16
   status Pending
2. 2026-03-13
   status Active
3. 2026-01-23
   status Pending
4. 2025-10-29
   price $68,000
5. 2025-07-25
   listed $76,000 Active
6. 2018-08-24
   soldstatus $30,459 132-char remark

   Show marketing remark (132 chars)

   Great investment opportunity! This property is available for purchase in a package with 47 other single family homes and 2 duplexes.

7. 2018-04-26
   listed $42,900 132-char remark

   Show marketing remark (132 chars)

   Great investment opportunity! This property is available for purchase in a package with 47 other single family homes and 2 duplexes.

ⓘ 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: $1,782 · $149/mo
• Projected year-2 tax: $1,782 · $149/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 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 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: $12,160
• − Mortgage interest: −$3,809
• − Property taxes: −$1,782
• − Insurance: −$340
• − Repairs & maintenance: −$973
• − Management: −$973
• − Depreciation: −$1,978
• Taxable income: $2,305
• Est. tax owed @ 24.0%: −$553
• After-tax cash flow: $2,652/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

+58.5% since first listed

7 events — show timeline

• 2026-04-16 Pending — IRMLS
• 2026-03-13 Relisted — IRMLS
• 2026-01-23 Pending — IRMLS
• 2025-10-29 Price Changed $68,000 IRMLS
• 2025-07-25 Listed $76,000 IRMLS
• 2018-08-24 Sold (MLS) $30,459 IRMLS
• 2018-04-26 Listed $42,900 IRMLS

Property tax history

-1.0%/yr

Latest (2024): $1,782 · +126.7% YoY. Source: county tax records.