1013 W Delaware St · Evansville, IN 47710

$34,900

2 bd · 1.0 ba · 1,118 sqft · SingleFamily public records · 294 Days on market

Built 1914 2,827 sqft lot Est $44k · 20% under ↓ 12% since listing

---

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
• 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

Great Investment property. Show anytime. On Ebox

Key facts

• 2,827 sq ft lot
• 2 garage spots
• Built 1914

Property features AI

Exterior

• Parking: Detached 2-car garage
• Utilities: Public water; Public sewer
• Home design: Single-family site-built home; One story
• Construction: Wood siding construction
• Exterior features: Level lot; Lot dimensions approximately 25 x 113

Interior

• Bathrooms: One full bathroom (main level)
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: Crawl space partial unfinished basement; Total of 5 rooms
• Laundry & utility: Laundry located in basement

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $35k.

Deal economics

• At list price, monthly cash flow is $550 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $35k).
• Recommended offer: $31k (12.0% below list) — sets the bar for market timing.
• Cap rate 25.2% 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: Lincoln School (math 12% / reading 17%, grade F, #862 of 994 statewide, top 88%, 236 students, 88% FRL); Central High School (math 38% / reading 74%, grade C, #73 of 369 statewide, top 20%, 1,090 students, 52% FRL) — zoned schools average 70% FRL vs 50% district-wide (20 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 88 active listings in the ZIP; 22 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 $241 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $10k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 294 days — a 12% lower offer ($31k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 10y ago; this cycle's ask has dropped $4k (11%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: property tax is 2.7% 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 $30,712 (12.0% below list)

Questions for the listing agent

1. It's been on market 294 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: 3.00% ✓
• Cap rate: 25.21%
• Cash-on-cash: 67.56%
• DSCR: 4.01
• GRM: 2.8

CMA / ARV

• ARV (on-the-fly): $43,602
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
708 N 3rd Ave	0.03mi	2/1.0	1,100 (-2%)	0mo	$4,000	$4	96
911 W Delaware St	0.10mi	2/1.0	1,100 (-2%)	8mo	$45,000	$41	86
808 N Fourth Ave	0.08mi	2/1.0	983 (-12%)	2mo	$22,000	$22	74
1017 W Florida St	0.37mi	2/1.0	1,056 (-6%)	6mo	$20,000	$19	69
1216 Edgar St	0.47mi	3/1.0 (+1)	1,112 (-0%)	5mo	$29,000	$26	68
1309 W Delaware St	0.23mi	3/1.0 (+1)	1,064 (-5%)	13mo	$118,000	$111	65
1116 Georgia St	0.40mi	2/1.0	1,032 (-8%)	7mo	$40,000	$39	62
1215 Harriet St	0.59mi	3/1.0 (+1)	1,116 (-0%)	7mo	$19,900	$18	61
821 N First Ave	0.23mi	2/1.0	984 (-12%)	14mo	$98,000	$100	58
1200 Read St	0.64mi	2/1.0	1,134 (+1%)	12mo	$90,000	$79	58
318 W Tennessee St	0.66mi	2/1.0	1,142 (+2%)	13mo	$13,000	$11	55
318 W Louisiana St	0.60mi	3/2.0 (+1)	1,224 (+10%)	2mo	$131,500	$107	45

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: 67.0%
• Equity multiple: 4.01×
• Total profit: $29,424
• Equity at exit: $5,204

10-year hold

• IRR: 71.2%
• Equity multiple: 8.26×
• Total profit: $70,896
• Equity at exit: $3,018

Cash invested: $9,772 (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 47710

• Home prices YoY: -29.7%
• Active inventory: 88
• Price-to-rent: 2.8×

Monthly cashflow live

• Estimated rent: $1,047 high
• Mortgage (P&I): −$183
• Tax from tax record: −$80 /mo · $956/yr
• Insurance: −$15
• HOA: −$0
• Vacancy / Maint / Mgmt: −$220
• Net cashflow: $550

Break-even live

Break-even rent $351

Max offer price $34,900

Occupancy floor 42%

Sensitivity live

Price	-10% $570	-5% $560	+0% $550	+5% $540	+10% $530
Rent	-10% $467	-5% $509	+0% $550	+5% $592	+10% $633
Rate	-1.0pp $568	-0.5pp $559	base $550	+0.5pp $541	+1.0pp $532

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: $8,725
• Closing costs: $1,047
• Reserves months: —
• Total cash needed: —

Rent comps 22 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1306 W Missouri St Evansville, IN	2.0	1.0	800	$950	$1.19	14d	1	0.37mi
400 NW 5th St Unit 4 Evansville, IN	2.0	1.0	792	$725	$0.92	21d	1	0.64mi
313 NW Martin Luther King Junior Blvd Unit 311 Evansville, IN	2.0	1.0	1200	$950	$0.79	21d	1	0.70mi
1018 Baker Ave Unit B Evansville, IN	1.0	1.0	800	$625	$0.78	21d	1	0.70mi
706 Court St Evansville, IN	2.0	1.5	1100	$850	$0.77	21d	1	0.71mi
610 N Main St Evansville, IN	2.0	1.0	751	$675	$0.90	21d	1	0.77mi
200 N Main St Evansville, IN	2.0	1.0–2.0	857	$1,599	$1.86	14d	7	0.78mi
41 W Division St Apt 200 Evansville, IN	2.0	2.0	1083	$1,500	$1.39	21d	1	0.80mi
32 W Tennessee St Evansville, IN	2.0	1.0	864	$925	$1.07	14d	1	0.81mi
1319 Uhlhorn St Evansville, IN	3.0	2.0	1424	$1,350	$0.95	14d	1	0.85mi
24 NW 6th St Apt 103 Evansville, IN	1.0	1.0	706	$1,300	$1.84	21d	1	0.86mi
1900 W Indiana St Evansville, IN	3.0	1.0	960	$995	$1.04	21d	1	0.87mi
300 Main St Unit 1 D3 Evansville, IN	1.0	1.0	800	$2,000	$2.50	21d	1	0.94mi
329 Main St Evansville, IN	1.0–2.0	1.0–2.0	717	$1,505	$2.10	14d	1	0.96mi
2102 W Delaware St Evansville, IN	3.0	1.0	1083	$925	$0.85	14d	1	0.97mi
100 SE 1st St Evansville, IN	1.0–2.0	1.0–2.0	715	$1,725	$2.41	14d	17	1.06mi
202 SE 1st St Evansville, IN	1.0–2.0	1.0	926	$2,449	$2.64	21d	4	1.13mi
315 SE 1st St Evansville, IN	1.0	1.0	1331	$1,695	$1.27	21d	1	1.23mi
322 SE 1st St Evansville, IN	1.0–2.0	1.0	1100	$1,700	$1.55	21d	6	1.24mi
2517 W Illinois St Evansville, IN	2.0	1.0	938	$960	$1.02	21d	1	1.39mi
615 SE 3rd St Unit D Evansville, IN	1.0	1.0	1122	$895	$0.80	21d	1	1.39mi
1151 Diamond Pl Evansville, IN	1.0	1.0	700	$780	$1.11	21d	1	1.46mi

Listing history 18 events

1. 2026-06-18
   days on market $34,900 Active 294 DOM
2. 2026-06-17
   days on market $34,900 Active 293 DOM
3. 2026-06-16
   days on market $34,900 Active 292 DOM
4. 2026-06-15
   days on market $34,900 Active 291 DOM
5. 2026-06-14
   days on market $34,900 Active 289 DOM
6. 2026-06-13
   days on market $34,900 Active 288 DOM
7. 2026-06-10
   days on market $34,900 Active 286 DOM
8. 2026-06-09
   days on market $34,900 Active 285 DOM
9. 2026-06-08
   days on market $34,900 Active 284 DOM
10. 2026-06-07
    days on market $34,900 Active 283 DOM
11. 2026-06-02
    days on market $34,900 Active 278 DOM
12. 2026-06-01
    days on market $34,900 Active 277 DOM
13. 2026-05-31
    days on market $34,900 Active 276 DOM
14. 2026-05-30
    days on market $34,900 Active 275 DOM
15. 2026-04-16
    price $34,900
16. 2025-08-27
    listed $39,000 Active
17. 2016-08-23
    listed $39,500
18. 2016-08-23
    listed $39,500

ⓘ 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: $956 · $80/mo
• Projected year-2 tax: $956 · $80/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 3/10 Moderate 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: $12,568
• − Mortgage interest: −$1,955
• − Property taxes: −$956
• − Insurance: −$174
• − Repairs & maintenance: −$1,005
• − Management: −$1,005
• − Depreciation: −$1,015
• Taxable income: $6,457
• Est. tax owed @ 24.0%: −$1,550
• After-tax cash flow: $5,053/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): 18,309
• Household income: $47,292
• Rent vs Own: 46.6% rent · 53.4% own
• Severe rent burden: 722.0

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 (83%)
• Race & ethnicity: White 83% Two or more races 7% Black 6% Hispanic / Latino 4%
• Common ancestry: Scotch-Irish 2% Lithuanian 1% Slovak 1%
• Foreign-born: 2% · Canada, China
• Languages at home: 97% English-only · Spanish 3%

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: ▼ -91.84%
• Current HPI: 217.586
• 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

-11.6% since first listed

4 events — show timeline

• 2026-04-16 Price Changed $34,900 IRMLS
• 2025-08-27 Listed $39,000 IRMLS
• 2016-08-23 Listed $39,500 IRMLS
• 2016-08-23 Listed $39,500 IRMLS

Property tax history

+2.9%/yr

Latest (2024): $956 · +103.8% YoY. Source: county tax records.