1307 S Harlan Ave · Evansville, IN 47714

$58,000

2 bd · 1.0 ba · 700 sqft · SingleFamily public records · 260 Days on market

Built 1925 4,356 sqft lot Est $91k · 36% 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 +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Rent growth +4.5/5.0
• Schools +3.3/10.0
• Livability +3.2/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Investment Opportunity – Located in Evansville's East Side Just Blocks away from Bosse High School, this 2-bedroom, 1-bath single-family home offers 700 sq ft of potential. A covered, screened-in porch welcomes you and provides a potential great spot to relax. Inside, the layout is simple and efficient, ready for your updates and personal touch. The decent-sized backyard is perfect for outdoor projects, gardening, or entertaining. The yard backs up to Hwy 41. This property needs updating and TLC and is being sold AS-IS—seller will make no repairs. Whether you’re an investor seeking your next rental or a buyer looking for a renovation project, this home is priced with its condition in mind and full of possibilities.

Key facts

• 4,356 sq ft lot
• Built 1925
• Listed 260 days

Tags

• COVERED SCREENED-IN PORCH
• DECENT-SIZED BACKYARD

Property features AI

Finance

• Other: Approximate above-grade finished area: 700

Exterior

• Parking: No dedicated parking listed
• Utilities: Public water; Public sewer
• Home design: Single-family residence; Site-built home; One story
• Construction: Aluminum and vinyl siding; Shingle roof
• Exterior features: Partial fencing; Level lot; Lot dimensions approximately 35 x 130

Interior

• Kitchen: Electric range
• Bedrooms: Total rooms: 4
• Flooring: Hardwood; Other
• Bathrooms: 1 full bathroom (main level)
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: Washer and dryer included; Electric range; Hardwood and other flooring; Crawl space basement
• Laundry & utility: Main-level laundry (washer and dryer)

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $58k.

Deal economics

• At list price, monthly cash flow is $336 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($958 rent vs $58k).
• Recommended offer: $51k (12.0% below list) — sets the bar for market timing.
• Cap rate 13.2% 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: Harper Elementary School (math 32% / reading 27%, grade F, #697 of 994 statewide, top 73%, 337 students, 74% FRL); Washington Middle School (math 14% / reading 24%, grade F, #274 of 330 statewide, top 83%, 353 students, 70% FRL) — zoned schools average 72% FRL vs 50% district-wide (22 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 24% at this address vs 40% district-wide (-15 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; 9 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 $401 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 7.9% rent growth), your $16k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 260 days — a 12% lower offer ($51k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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 1925 — 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 $51,040 (12.0% below list)

Questions for the listing agent

1. It's been on market 260 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 1925 — 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: 1.65% ✓
• Cap rate: 13.23%
• Cash-on-cash: 24.79%
• DSCR: 2.10
• GRM: 5.0

CMA / ARV

• ARV (on-the-fly): $91,000
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1315 Marshall Ave	0.12mi	2/1.0	659 (-6%)	1mo	$82,500	$125	83
1119 Brookside Dr	0.29mi	2/1.0	724 (+3%)	0mo	$107,000	$148	80
1116 S Harlan Ave	0.17mi	2/1.0	630 (-10%)	4mo	$82,000	$130	72
1401 Jackson Ave	0.21mi	2/1.0	768 (+10%)	5mo	$111,000	$145	70
1909 Taylor Ave	0.63mi	2/1.0	696 (-1%)	3mo	$96,000	$138	67
1605 Ravenswood Dr	0.42mi	2/1.0	752 (+7%)	4mo	$70,000	$93	65
1407 Waggoner Ave	0.37mi	2/1.0	775 (+11%)	1mo	$94,500	$122	64
1505 Jackson Ave	0.31mi	2/1.0	780 (+11%)	4mo	$38,750	$50	63
1807 Waggoner Ave	0.62mi	2/1.0	720 (+3%)	6mo	$90,000	$125	62
1254 Maple Ct	0.60mi	2/1.0	725 (+4%)	6mo	$115,000	$159	61
2013 S New York Ave	0.74mi	1/1.0 (-1)	700 (0%)	2mo	$35,000	$50	58
637 Jackson Ave	0.71mi	2/1.5	800 (+14%)	1mo	$119,900	$150	40

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: 23.8%
• Equity multiple: 2.04×
• Total profit: $16,914
• Equity at exit: $8,648

10-year hold

• IRR: 34.7%
• Equity multiple: 4.98×
• Total profit: $64,665
• Equity at exit: $5,015

Cash invested: $16,240 (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: 5.0×

Monthly cashflow live

• Estimated rent: $958 high
• Mortgage (P&I): −$304
• Tax from tax record: −$93 /mo · $1,120/yr
• Insurance: −$24
• HOA: −$0
• Vacancy / Maint / Mgmt: −$201
• Net cashflow: $336

Break-even live

Break-even rent $534

Max offer price $58,000

Occupancy floor 60%

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: $14,500
• Closing costs: $1,740
• Reserves months: —
• Total cash needed: —

Rent comps 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1500 S Harlan Ave Evansville, IN	2.0	1.0	712	$900	$1.26	13d	1	0.12mi
1909 Taylor Ave Evansville, IN	2.0	1.0	700	$1,200	$1.71	13d	1	0.62mi
507 S Evans Ave Evansville, IN	2.0	1.0	750	$795	$1.06	21d	1	1.05mi
2340 Sunburst Blvd Unit 2210-104 Evansville, IN	1.0	1.0	631	$785	$1.24	21d	1	1.10mi
1231 Culver Dr Unit C Evansville, IN	1.0	1.0	575	$625	$1.09	21d	1	1.13mi
538 S Spring St Evansville, IN	1.0	1.0	500	$850	$1.70	21d	1	1.14mi
1407 Howard St Evansville, IN	1.0	1.0	483	$725	$1.50	21d	1	1.24mi
1440 E Division St Evansville, IN	2.0	1.0	689	$1,250	$1.81	13d	1	1.29mi
8 E Blackford Ave Evansville, IN	1.0	1.0	750	$825	$1.10	21d	1	1.33mi

Listing history 16 events

1. 2026-06-18
   days on market $58,000 Active 260 DOM
2. 2026-06-17
   days on market $58,000 Active 259 DOM
3. 2026-06-16
   days on market $58,000 Active 258 DOM
4. 2026-06-15
   days on market $58,000 Active 257 DOM
5. 2026-06-14
   days on market $58,000 Active 255 DOM
6. 2026-06-13
   days on market $58,000 Active 254 DOM
7. 2026-06-10
   days on market $58,000 Active 252 DOM
8. 2026-06-09
   days on market $58,000 Active 251 DOM
9. 2026-06-08
   days on market $58,000 Active 250 DOM
10. 2026-06-07
    days on market $58,000 Active 249 DOM
11. 2026-06-02
    days on market $58,000 Active 244 DOM
12. 2026-06-01
    days on market $58,000 Active 243 DOM
13. 2026-05-31
    days on market $58,000 Active 242 DOM
14. 2026-05-30
    days on market $58,000 Active 241 DOM
15. 2025-10-01
    listed $58,000 Active 743-char remark

    Show marketing remark (743 chars)

    Investment Opportunity – Located in Evansville's East Side Just Blocks away from Bosse High School, this 2-bedroom, 1-bath single-family home offers 700 sq ft of potential. A covered, screened-in porch welcomes you and provides a potential great spot to relax. Inside, the layout is simple and efficient, ready for your updates and personal touch. The decent-sized backyard is perfect for outdoor projects, gardening, or entertaining. The yard backs up to Hwy 41. This property needs updating and TLC and is being sold AS-IS—seller will make no repairs. Whether you’re an investor seeking your next rental or a buyer looking for a renovation project, this home is priced with its condition in mind and full of possibilities.

16. 2025-10-01
    listed $58,000 Active

    Show marketing remark (743 chars)

    Investment Opportunity – Located in Evansville's East Side Just Blocks away from Bosse High School, this 2-bedroom, 1-bath single-family home offers 700 sq ft of potential. A covered, screened-in porch welcomes you and provides a potential great spot to relax. Inside, the layout is simple and efficient, ready for your updates and personal touch. The decent-sized backyard is perfect for outdoor projects, gardening, or entertaining. The yard backs up to Hwy 41. This property needs updating and TLC and is being sold AS-IS—seller will make no repairs. Whether you’re an investor seeking your next rental or a buyer looking for a renovation project, this home is priced with its condition in mind and full of possibilities.

ⓘ 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: $1,120 · $93/mo
• Projected year-2 tax: $1,120 · $93/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 (shaded) · 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: $11,501
• − Mortgage interest: −$3,249
• − Property taxes: −$1,120
• − Insurance: −$290
• − Repairs & maintenance: −$920
• − Management: −$920
• − Depreciation: −$1,687
• Taxable income: $3,315
• Est. tax owed @ 24.0%: −$796
• After-tax cash flow: $3,230/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

+0.0% since first listed

2 events — show timeline

• 2025-10-01 Listed $58,000 IRMLS
• 2025-10-01 Listed $58,000 IRMLS

Property tax history

-1.8%/yr

Latest (2024): $1,120 · +2.1% YoY. Source: county tax records.