216 E Maryland St · Evansville, IN 47711

$89,900

1 bd · 1.0 ba · 1,658 sqft · SingleFamily public records · 86 Days on market

Built 1939 3,250 sqft lot Est $88k · at est.

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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 +29.2/30.0
• DSCR +10.0/10.0
• 1% rule +6.9/10.0
• ARV discount +6.5/15.0
• 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

This established rental property offers strong cash flow and immediate income potential for investors. Featuring a long-term tenant on a yearly lease, the property currently generates $995 per month in rent, with the tenant responsible for all utilities and lawn care. All appliances are included, making this a low-maintenance investment opportunity.

Key facts

• 3,250 sq ft lot
• Built 1939
• Listed 86 days

Property features AI

Exterior

• Security: Smoke detector(s)
• Utilities: Public water; Public sewer
• Home design: Single-family residence; Site-built home; One story
• Construction: Aluminum siding
• Exterior features: Privacy fencing; Level lot

Interior

• Kitchen: Please see full listing for kitchen appliance details
• Bedrooms: Bedrooms (see full listing for counts and locations)
• Bathrooms: 1 full bathroom (main level)
• Heating & cooling: Central air conditioning; Natural gas forced-air heating
• Interior features: One fireplace; Smoke detector(s); 7 total rooms; Crawl space/partial unfinished basement
• Laundry & utility: Laundry on the main level

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath single-family listed at $90k.

Deal economics

• At list price, monthly cash flow is $314 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $90k).
• Recommended offer: $85k (6.0% below list) — sets the bar for market timing.
• Cap rate 10.5% 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; 8 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 $622 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 $25k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 86 days — a 6% lower offer ($85k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 9y ago; this cycle's ask has dropped $7k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $60k; 50% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1939 — 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 $84,506 (6.0% below list)

Questions for the listing agent

1. It's been on market 86 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1939 — 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: 1.19% ✓
• Cap rate: 10.49%
• Cash-on-cash: 14.99%
• DSCR: 1.67
• GRM: 7.0

CMA / ARV

• ARV (on-the-fly): $87,874
• Comps found: 7

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
107 E Missouri St	0.13mi	2/1.0 (+1)	1,486 (-10%)	18mo	$30,000	$20	56
20 W Eichel Ave	0.43mi	2/2.0 (+1)	1,552 (-6%)	6mo	$134,000	$86	55
401 E Iowa St	0.24mi	2/1.0 (+1)	1,868 (+13%)	17mo	$98,500	$53	49
1112 1114 Read St	0.45mi	2/2.0 (+1)	1,456 (-12%)	2mo	$17,500	$12	48
620 Maxwell Ave	0.63mi	2/1.0 (+1)	1,488 (-10%)	4mo	$139,900	$94	45
328 Keck Ave	0.70mi	2/1.5 (+1)	1,442 (-13%)	4mo	$157,500	$109	35
613 Keck Ave	0.74mi	2/2.0 (+1)	1,818 (+10%)	14mo	$60,400	$33	29

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: 9.3%
• Equity multiple: 1.38×
• Total profit: $9,569
• Equity at exit: $13,404

10-year hold

• IRR: 21.1%
• Equity multiple: 3.08×
• Total profit: $52,349
• Equity at exit: $7,773

Cash invested: $25,172 (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: 7.0×

Monthly cashflow live

• Estimated rent: $1,069 high
• Mortgage (P&I): −$471
• Tax from tax record: −$21 /mo · $256/yr
• Insurance: −$37
• HOA: −$0
• Vacancy / Maint / Mgmt: −$225
• Net cashflow: $314

Break-even live

Break-even rent $671

Max offer price $89,900

Occupancy floor 66%

Sensitivity live

Price	-10% $365	-5% $340	+0% $314	+5% $289	+10% $264
Rent	-10% $230	-5% $272	+0% $314	+5% $357	+10% $399
Rate	-1.0pp $360	-0.5pp $337	base $314	+0.5pp $291	+1.0pp $267

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: $22,475
• Closing costs: $2,697
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
200 N Main St Evansville, IN	2.0	1.0–2.0	857	$1,287	$1.50	14d	7	0.49mi
41 W Division St Apt 200 Evansville, IN	2.0	2.0	1083	$1,500	$1.39	22d	1	0.65mi
706 Court St Evansville, IN	2.0	1.5	1100	$850	$0.77	22d	1	0.87mi
313 NW Martin Luther King Junior Blvd Unit 311 Evansville, IN	2.0	1.0	1200	$950	$0.79	22d	1	0.87mi
202 SE 1st St Evansville, IN	1.0–2.0	1.0	926	$1,439	$1.55	22d	4	1.40mi
322 SE 1st St Evansville, IN	1.0–2.0	1.0	1100	$1,200	$1.09	22d	6	1.47mi
315 SE 1st St Evansville, IN	1.0	1.0	1331	$1,695	$1.27	22d	1	1.47mi
615 SE 3rd St Unit D Evansville, IN	1.0	1.0	1122	$895	$0.80	22d	1	1.48mi

Listing history 26 events

1. 2026-06-18
   days on market $89,900 Active 86 DOM
2. 2026-06-17
   remarks 351-char remark
3. 2026-06-17
   price $89,900 Active 85 DOM
4. 2026-06-17
   days on market $95,500 Active 85 DOM
5. 2026-06-16
   days on market $95,500 Active 84 DOM
6. 2026-06-15
   days on market $95,500 Active 83 DOM
7. 2026-06-14
   days on market $95,500 Active 81 DOM
8. 2026-06-13
   days on market $95,500 Active 80 DOM
9. 2026-06-10
   days on market $95,500 Active 78 DOM
10. 2026-06-09
    days on market $95,500 Active 77 DOM
11. 2026-06-08
    days on market $95,500 Active 76 DOM
12. 2026-06-07
    days on market $95,500 Active 75 DOM
13. 2026-06-02
    days on market $95,500 Active 70 DOM
14. 2026-06-01
    days on market $95,500 Active 69 DOM
15. 2026-05-31
    days on market $95,500 Active 68 DOM
16. 2026-05-30
    days on market $95,500 Active 67 DOM
17. 2026-05-01
    price $95,500
18. 2026-03-24
    listed $97,250 Active
19. 2026-03-24
    listed $97,250 Active
20. 2024-04-07
    historical $975
21. 2024-03-20
    listed $975
22. 2021-10-05
    soldstatus $60,000
23. 2021-08-07
    listed $65,000
24. 2018-11-19
    listed $50,000
25. 2018-01-12
    listed $50,000
26. 2017-10-05
    listed $48,000

ⓘ 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: $256 · $21/mo
• Projected year-2 tax: $510 · $42/mo
• Expected delta: +$254/yr (+$21/mo · 99.5%)

ⓘ 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: $12,830
• − Mortgage interest: −$5,036
• − Property taxes: −$256
• − Insurance: −$450
• − Repairs & maintenance: −$1,026
• − Management: −$1,026
• − Depreciation: −$2,615
• Taxable income: $2,421
• Est. tax owed @ 24.0%: −$581
• After-tax cash flow: $3,192/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

+99.0% since first listed

10 events — show timeline

• 2026-05-01 Price Changed $95,500 IRMLS
• 2026-03-24 Listed $97,250 IRMLS
• 2026-03-24 Listed $97,250 IRMLS
• 2024-04-07 Rental Removed $975 APPFOLIO
• 2024-03-20 Listed for Rent $975 APPFOLIO
• 2021-10-05 Sold (MLS) $60,000 IRMLS
• 2021-08-07 Listed $65,000 IRMLS
• 2018-11-19 Listed $50,000 IRMLS
• 2018-01-12 Listed $50,000 IRMLS
• 2017-10-05 Listed $48,000 IRMLS

Property tax history

-8.1%/yr

Latest (2024): $256 · +5.1% YoY. Source: county tax records.