1021 W Franklin St · Evansville, IN 47710

$99,900

4 bd · 2.0 ba · 2,040 sqft · SingleFamily public records · 155 Days on market

Built 1894 2,875 sqft lot

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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 +28.9/30.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• 1% rule +7.0/10.0
• 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 MLS

This 4 bedroom 2 Bath home is like new inside with all new floor coverings, freshly painted walls & Ceilings throughout. Some of the windows have been replaced and there is a brand new Gas Furnace & Central Air Conditioner. This home is move-in ready. For the handy homeowner you will defiantly want to check out the 34' X 19' workshop/detached Garage. The home is Conveniently located within walking distance of Berry Global, Deaconess Hospital and lots of other local businesses. Best of all you are within walking distance (5 blocks) of one of the top Rated Street Festival in the USA and certainly the most favored locally.

Key facts

• Covered porch
• Generous sized rooms
• Large garage

Tags

• COVERED PORCH
• GENEROUS SIZED ROOMS
• SOARING CEILINGS
• LARGE GARAGE
• WORKSHOP

Property features AI

Exterior

• Parking: Detached 2-car garage
• Utilities: Public water; Public sewer
• Home design: Single-family site-built home; 2 stories
• Construction: Aluminum and vinyl siding; Brick/mortar foundation
• Exterior features: Level lot; Lot dimensions approximately 25 x 115

Interior

• Bedrooms: Total of 10 rooms (bedroom count not specified)
• Bathrooms: 2 full bathrooms; 1 main-level bathroom
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: Crawl space basement; Main-level laundry
• Laundry & utility: Laundry on the main level

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $100k.

Deal economics

• At list price, monthly cash flow is $340 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $100k).
• Recommended offer: $88k (12.0% below list) — sets the bar for market timing.
• Cap rate 10.4% 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: Cedar Hall Community School (math 13% / reading 19%, grade F, #854 of 994 statewide, top 86%, 509 students, 93% FRL); Central High School (math 38% / reading 74%, grade C, #73 of 369 statewide, top 20%, 1,090 students, 52% FRL) — zoned schools average 72% FRL vs 50% district-wide (23 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 88 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); 508 units permitted in Vanderburgh County in 2024 (32 in 5+ unit buildings).
• This rent runs 31% of the median local income ($47k/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 $691 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $28k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 155 days — a 12% lower offer ($88k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 4y 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 1894 — 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 $87,912 (12.0% below list)

Questions for the listing agent

1. It's been on market 155 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 1894 — 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: 1.20% ✓
• Cap rate: 10.38%
• Cash-on-cash: 14.60%
• DSCR: 1.65
• GRM: 6.9

CMA / ARV

• ARV (on-the-fly): $44,880
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
620 N Fourth Ave	0.23mi	4/2.0	2,142 (+5%)	2mo	$105,000	$49	80
1409 W Maryland St	0.47mi	4/1.0	1,998 (-2%)	1mo	$90,000	$45	70
615 N Third Ave	0.23mi	3/1.5 (-1)	1,858 (-9%)	1mo	$40,000	$22	67
1025 N Second Ave	0.53mi	3/1.0 (-1)	1,938 (-5%)	1mo	$85,000	$44	57
1025 N Third Ave	0.47mi	3/2.0 (-1)	1,979 (-3%)	14mo	$18,500	$9	56
209 W Columbia St	0.70mi	4/2.0	2,034 (-0%)	17mo	$45,000	$22	52
1514 W Louisiana St	0.67mi	5/1.0 (+1)	1,968 (-4%)	4mo	$11,000	$6	51
1113 Georgia St	0.67mi	4/1.0	1,988 (-2%)	13mo	$100,000	$50	50
908 W Maryland St	0.38mi	3/1.5 (-1)	2,236 (+10%)	12mo	$28,000	$13	50
109 W Indiana St	0.70mi	4/1.5	1,939 (-5%)	12mo	$92,000	$47	47
1002 Edgar St	0.57mi	3/2.0 (-1)	2,285 (+12%)	6mo	$5,000	$2	43
920 W Florida St	0.64mi	3/2.0 (-1)	1,875 (-8%)	11mo	$24,002	$13	42

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: 5.0%
• Equity multiple: 1.19×
• Total profit: $5,452
• Equity at exit: $14,895

10-year hold

• IRR: 14.5%
• Equity multiple: 2.16×
• Total profit: $32,525
• Equity at exit: $8,638

Cash invested: $27,972 (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: 6.9×

Monthly cashflow live

• Estimated rent: $1,203 medium
• Mortgage (P&I): −$524
• Tax from tax record: −$44 /mo · $531/yr
• Insurance: −$42
• HOA: −$0
• Vacancy / Maint / Mgmt: −$253
• Net cashflow: $340

Break-even live

Break-even rent $772

Max offer price $99,900

Occupancy floor 67%

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: $24,975
• Closing costs: $2,997
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1106 W Illinois St Evansville, IN	5.0	2.0	1892	$3,500	$1.85	21d	1	0.14mi
27 W Franklin St Evansville, IN	4.0	2.5	2500	$1,100	$0.44	21d	1	0.76mi
1317 Harriet St Evansville, IN	3.0	2.0	2000	$995	$0.50	13d	1	0.81mi
1319 Uhlhorn St Evansville, IN	3.0	2.0	1424	$1,350	$0.95	13d	1	1.04mi
121 E Florida St Evansville, IN	4.0	2.0	1702	$100	$0.06	21d	1	1.13mi

Listing history 30 events

1. 2026-06-17
   days on market $99,900 Active 155 DOM
2. 2026-06-16
   days on market $99,900 Active 154 DOM
3. 2026-06-15
   days on market $99,900 Active 153 DOM
4. 2026-06-14
   days on market $99,900 Active 151 DOM
5. 2026-06-13
   days on market $99,900 Active 150 DOM
6. 2026-06-10
   days on market $99,900 Active 148 DOM
7. 2026-06-09
   days on market $99,900 Active 147 DOM
8. 2026-06-08
   days on market $99,900 Active 146 DOM
9. 2026-06-07
   days on market $99,900 Active 145 DOM
10. 2026-06-02
    days on market $99,900 Active 140 DOM
11. 2026-06-01
    days on market $99,900 Active 139 DOM
12. 2026-05-31
    days on market $99,900 Active 138 DOM
13. 2026-05-30
    days on market $99,900 Active 137 DOM
14. 2026-01-13
    listed $99,900 Active
15. 2025-07-24
    price $124,500
16. 2025-07-01
    listed $124,900 Active
17. 2024-03-19
    soldstatus $104,500 Closed 639-char remark

    Show marketing remark (639 chars)

    This 4 bedroom 2 Bath home is like new inside with all new floor coverings, freshly painted walls & Ceilings throughout. Some of the windows have been replaced and there is a brand new Gas Furnace & Central Air Conditioner. This home is move-in ready. For the handy homeowner you will defiantly want to check out the 34' X 19' workshop/detached Garage. The home is Conveniently located within walking distance of Berry Global, Deaconess Hospital and lots of other local businesses. Best of all you are within walking distance (5 blocks) of one of the top Rated Street Festival in the USA and certainly the most favored locally.

18. 2024-02-08
    status Pending 639-char remark

    Show marketing remark (639 chars)

    This 4 bedroom 2 Bath home is like new inside with all new floor coverings, freshly painted walls & Ceilings throughout. Some of the windows have been replaced and there is a brand new Gas Furnace & Central Air Conditioner. This home is move-in ready. For the handy homeowner you will defiantly want to check out the 34' X 19' workshop/detached Garage. The home is Conveniently located within walking distance of Berry Global, Deaconess Hospital and lots of other local businesses. Best of all you are within walking distance (5 blocks) of one of the top Rated Street Festival in the USA and certainly the most favored locally.

19. 2023-10-05
    listed $111,400 Active 639-char remark

    Show marketing remark (639 chars)

    This 4 bedroom 2 Bath home is like new inside with all new floor coverings, freshly painted walls & Ceilings throughout. Some of the windows have been replaced and there is a brand new Gas Furnace & Central Air Conditioner. This home is move-in ready. For the handy homeowner you will defiantly want to check out the 34' X 19' workshop/detached Garage. The home is Conveniently located within walking distance of Berry Global, Deaconess Hospital and lots of other local businesses. Best of all you are within walking distance (5 blocks) of one of the top Rated Street Festival in the USA and certainly the most favored locally.

20. 2023-08-31
    status Active
21. 2023-08-13
    historical
22. 2023-08-09
    price $104,990
23. 2023-05-01
    status Active
24. 2023-05-01
    price $110,000
25. 2022-11-15
    price $132,900
26. 2022-10-29
    price $139,000
27. 2022-10-12
    price $142,900
28. 2022-09-22
    listed $148,500 Active
29. 2022-04-12
    soldstatus $30,000
30. 2022-02-23
    listed $43,000

ⓘ 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: $531 · $44/mo
• Projected year-2 tax: $690 · $58/mo
• Expected delta: +$159/yr (+$13/mo · 29.9%)

ⓘ 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 ≥107°F today · 19 d/yr by 30 yrs out
• 💨 Wind 3/10 Moderate 5% 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: $14,431
• − Mortgage interest: −$5,596
• − Property taxes: −$531
• − Insurance: −$500
• − Repairs & maintenance: −$1,154
• − Management: −$1,154
• − Depreciation: −$2,906
• Taxable income: $2,589
• Est. tax owed @ 24.0%: −$621
• After-tax cash flow: $3,462/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

+132.3% since first listed

17 events — show timeline

• 2026-01-13 Listed $99,900 IRMLS
• 2025-07-24 Price Changed $124,500 IRMLS
• 2025-07-01 Listed $124,900 IRMLS
• 2024-03-19 Sold (MLS) $104,500 IRMLS
• 2024-02-08 Pending — IRMLS
• 2023-10-05 Listed $111,400 IRMLS
• 2023-08-31 Relisted — IRMLS
• 2023-08-13 Delisted — IRMLS
• 2023-08-09 Price Changed $104,990 IRMLS
• 2023-05-01 Relisted — IRMLS
• 2023-05-01 Price Changed $110,000 IRMLS
• 2022-11-15 Price Changed $132,900 IRMLS
• 2022-10-29 Price Changed $139,000 IRMLS
• 2022-10-12 Price Changed $142,900 IRMLS
• 2022-09-22 Listed $148,500 IRMLS
• 2022-04-12 Sold (MLS) $30,000 IRMLS
• 2022-02-23 Listed $43,000 IRMLS

Property tax history

-58.5%/yr

Latest (2024): $531 · -58.5% YoY. Source: county tax records.