653 E Maryland St · Evansville, IN 47711

$95,000

3 bd · 1.0 ba · 1,114 sqft · SingleFamily public records · 124 Days on market

Built 1919 3,790 sqft lot Est $77k · 24% over

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Why this score? — see what drove the C 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 +26.9/30.0
• DSCR +9.3/10.0
• 1% rule +6.4/10.0
• Rent growth +4.2/5.0
• Schools +3.3/10.0
• Livability +3.2/5.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks

This is a package deal with tenants in 3 of the 3 properties. Properties include: 640 Madison Ave rent $1,000/month 653 E Maryland $1,200/month (market rent currently vacant) 410 E Virginia $900/month $5120 per month/$61,440 annually

Key facts

• 3,790 sq ft lot
• Built 1919
• Listed 124 days

Property features AI

Exterior

• Utilities: Public water; Public sewer
• Home design: Single-family, site-built home; One story
• Construction: Aluminum siding
• Exterior features: Level lot; Lot dimensions approximately 29 x 130

Interior

• Bedrooms: Total of 5 rooms (includes bedrooms and living spaces); Laundry located on the main level
• Bathrooms: 1 full bathroom (main level)
• Heating & cooling: Central air conditioning; Forced air heating
• Interior features: Fireplace in the family room; Crawl space basement
• Laundry & utility: Main level laundry

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $95k.

Deal economics

• At list price, monthly cash flow is $264 ($3k/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: $84k (12.0% below list) — sets the bar for market timing.
• Cap rate 9.6% 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); 234 active listings in the ZIP; 20 comparable units currently listed for rent nearby; rentals at typical pace (median 23d 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 + 6.7% rent growth), your $27k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 124 days — a 12% lower offer ($84k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 10y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Risks & watch-outs

• Watch-outs: built in 1919 — 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 124 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 1919 — 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. 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.
8. 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.
9. 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: 1.14% ✓
• Cap rate: 9.63%
• Cash-on-cash: 11.92%
• DSCR: 1.53
• GRM: 7.3

CMA / ARV

• ARV (on-the-fly): $76,866
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
416 E Michigan St	0.37mi	2/1.0 (-1)	1,090 (-2%)	0mo	$50,000	$46	74
313 E Iowa St	0.35mi	2/1.0 (-1)	1,116 (+0%)	8mo	$69,900	$63	72
614 E Iowa St	0.19mi	2/1.0 (-1)	1,176 (+6%)	7mo	$119,900	$102	71
917 N Morton Ave	0.07mi	4/1.0 (+1)	1,240 (+11%)	8mo	$106,500	$86	66
812 N Garvin St	0.15mi	2/1.0 (-1)	978 (-12%)	6mo	$64,900	$66	63
1311 N Garvin St	0.33mi	2/1.0 (-1)	1,016 (-9%)	6mo	$126,000	$124	60
318 E Eichel Ave	0.49mi	2/1.0 (-1)	1,158 (+4%)	7mo	$72,000	$62	60
1108 Garvin St	0.22mi	2/1.0 (-1)	976 (-12%)	8mo	$110,000	$113	58
915 N Evans St	0.14mi	4/1.5 (+1)	1,274 (+14%)	8mo	$35,000	$27	56
311 E Oregon St	0.30mi	2/1.0 (-1)	950 (-15%)	5mo	$17,000	$18	52
220 E Eichel Ave	0.53mi	2/1.0 (-1)	1,231 (+10%)	7mo	$84,900	$69	47
29 W Florida St	0.67mi	3/1.0	1,232 (+11%)	7mo	$135,000	$110	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 · 6.72% rent growth · sell at horizon

5-year hold

• IRR: 5.2%
• Equity multiple: 1.21×
• Total profit: $5,628
• Equity at exit: $14,165

10-year hold

• IRR: 17.6%
• Equity multiple: 2.70×
• Total profit: $45,146
• 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 47711

• Home prices YoY: -32.3%
• Rents YoY: 6.7%
• Active inventory: 234
• Price-to-rent: 7.3×

Monthly cashflow live

• Estimated rent: $1,085 high
• Mortgage (P&I): −$498
• Tax from tax record: −$55 /mo · $660/yr
• Insurance: −$40
• HOA: −$0
• Vacancy / Maint / Mgmt: −$228
• Net cashflow: $264

Break-even live

Break-even rent $750

Max offer price $95,000

Occupancy floor 71%

Sensitivity live

Price	-10% $318	-5% $291	+0% $264	+5% $237	+10% $211
Rent	-10% $179	-5% $221	+0% $264	+5% $307	+10% $350
Rate	-1.0pp $312	-0.5pp $288	base $264	+0.5pp $240	+1.0pp $215

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 20 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
610 N Main St Evansville, IN	2.0	1.0	751	$675	$0.90	22d	1	0.56mi
109 E Eichel Ave Unit B Evansville, IN	4.0	2.0	1228	$1,257	$1.02	22d	1	0.59mi
200 N Main St Evansville, IN	2.0	1.0–2.0	857	$1,599	$1.86	15d	7	0.68mi
32 W Tennessee St Evansville, IN	2.0	1.0	864	$925	$1.07	15d	1	0.72mi
304 S Grand Ave Evansville, IN	2.0	1.0	967	$955	$0.99	22d	1	0.79mi
41 W Division St Apt 200 Evansville, IN	2.0	2.0	1083	$1,500	$1.39	22d	1	0.81mi
1303 E Indiana St Evansville, IN	2.0	1.0	975	$1,195	$1.23	15d	1	0.88mi
1321 E Indiana St Evansville, IN	2.0	1.0	964	$1,050	$1.09	15d	1	0.91mi
507 S Evans Ave Evansville, IN	2.0	1.0	750	$795	$1.06	22d	1	0.93mi
1415 E Indiana St Evansville, IN	2.0	1.0	814	$795	$0.98	15d	1	1.02mi
706 Court St Evansville, IN	2.0	1.5	1100	$850	$0.77	22d	1	1.06mi
313 NW Martin Luther King Junior Blvd Unit 311 Evansville, IN	2.0	1.0	1200	$950	$0.79	22d	1	1.07mi
2501 N Evans Ave Unit A Evansville, IN	2.0	1.0	856	$900	$1.05	22d	1	1.15mi
1219 Joan Ave Unit 1219 Evansville, IN	2.0	1.0	725	$845	$1.17	15d	1	1.21mi
400 NW 5th St Unit 4 Evansville, IN	2.0	1.0	792	$725	$0.92	22d	1	1.22mi
734 Bayard Park Dr Evansville, IN	3.0	2.0	1000	$1,425	$1.43	22d	1	1.26mi
329 Main St Evansville, IN	1.0–2.0	1.0–2.0	717	$1,505	$2.10	15d	1	1.33mi
1133 Bayard Park Dr Unit B Evansville, IN	2.0	1.0	990	$800	$0.81	22d	1	1.41mi
827 Judson St Evansville, IN	3.0	1.0	1008	$1,295	$1.28	15d	1	1.45mi
913 N Spring St Evansville, IN	3.0	1.5	1232	$1,350	$1.10	15d	1	1.49mi

Listing history 13 events

1. 2026-06-07
   statusdays on market $95,000 Pending 124 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
7. 2025-04-06
   historical $700
8. 2025-04-02
   listed $700
9. 2024-03-14
   historical $1,200
10. 2023-12-28
    listed $1,200
11. 2020-10-01
    listed $49,900
12. 2018-12-19
    listed $40,000
13. 2016-05-09
    listed $44,900

ⓘ 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: $660 · $55/mo
• Projected year-2 tax: $734 · $61/mo
• Expected delta: +$74/yr (+$6/mo · 11.1%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 3/10 Moderate FEMA zone X (unshaded) · 20% 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: $13,019
• − Mortgage interest: −$5,321
• − Property taxes: −$660
• − Insurance: −$475
• − Repairs & maintenance: −$1,042
• − Management: −$1,042
• − Depreciation: −$2,764
• Taxable income: $1,716
• Est. tax owed @ 24.0%: −$412
• After-tax cash flow: $2,760/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

+111.6% since first listed

8 events — show timeline

• 2026-02-02 Listed $95,000 IRMLS
• 2025-04-06 Rental Removed $700 APPFOLIO
• 2025-04-02 Listed for Rent $700 APPFOLIO
• 2024-03-14 Rental Removed $1,200 APPFOLIO
• 2023-12-28 Listed for Rent $1,200 APPFOLIO
• 2020-10-01 Listed $49,900 IRMLS
• 2018-12-19 Listed $40,000 IRMLS
• 2016-05-09 Listed $44,900 IRMLS

Property tax history

-0.8%/yr

Latest (2024): $660 · -11.1% YoY. Source: county tax records.