1114 1116 W Illinois St · Evansville, IN 47711

$99,900

3 bd · 2.0 ba · 1,760 sqft · SingleFamily · 260 Days on market

Built 1916 2,614 sqft lot Est $77k · 29% 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 +27.2/30.0
• DSCR +9.5/10.0
• 1% rule +7.4/10.0
• 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 MLS

Investor Special! Built in 1916, this duplex offers great potential with classic charm and spacious layouts. The main level unit features 2 bedrooms, 1 full bath, plus access to the basement with storage and laundry area. The upstairs unit includes 1 bedroom and 1 full bath, with the possibility of being converted into a 2-bedroom unit for increased rental income. Each unit is approximately 880 sq. ft. , with an additional 220 sq. ft. basement. Property sits on a nice backyard lot, accessible from the alley. This property is ideal for investors or anyone looking to add value with updates and improvements. With some TLC, this duplex could be a strong income-producing property. To be sold As-Is, Where-Is. Seller will make no repairs.

Key facts

• Spacious layouts
• Access to basement
• Nice backyard lot

Tags

• SPACIOUS LAYOUTS
• ACCESS TO BASEMENT
• STORAGE AND LAUNDRY AREA
• NICE BACKYARD LOT
• ACCESSIBLE FROM THE ALLEY

Property features AI

Finance

• HOA & community: No association amenities

Exterior

• Parking: No dedicated parking
• Utilities: Public water; Public sewer
• Home design: Single-family residence; Site-built home; 2 stories
• Construction: Aluminum, vinyl, and wood siding; Brick/mortar, concrete perimeter, and block foundation; Rolled/hot mop and shingle roof; Built as a site-built home
• Exterior features: Level lot; Lot dimensions approximately 25 x 100

Interior

• Kitchen: Refrigerator; Electric range
• Flooring: Carpet; Laminate
• Bathrooms: 2 full bathrooms; 1 bathroom on main level
• Heating & cooling: Forced air heating; Central air conditioning; Ceiling fans
• Interior features: Refrigerator; Electric range; Partial basement; 9 total rooms
• Laundry & utility: Laundry in basement

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $100k.

Deal economics

• At list price, monthly cash flow is $287 ($3k/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 9.7% 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: Tekoppel Elementary School (math 42% / reading 33%, grade F, #543 of 994 statewide, top 55%, 445 students, 73% FRL); Helfrich Park Stem Academy (math 36% / reading 47%, grade F, #108 of 330 statewide, top 34%, 517 students, 52% FRL); Francis Joseph Reitz High School (math 45% / reading 68%, grade C, #70 of 369 statewide, top 19%, 1,280 students, 44% FRL).
• Market conditions: Rents rising fast (+6.7%/yr); 229 active listings in the ZIP; 6 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).

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 + 6.7% rent growth), your $28k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 260 days — a 12% lower offer ($88k) 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 1916 — 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 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 1916 — 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: 1.24% ✓
• Cap rate: 9.74%
• Cash-on-cash: 12.30%
• DSCR: 1.55
• GRM: 6.7

CMA / ARV

• ARV (on-the-fly): $77,440
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1023 W Franklin St	0.12mi	3/1.0	1,648 (-6%)	5mo	$107,000	$65	75
615 N Third Ave	0.34mi	3/1.5	1,858 (+6%)	1mo	$40,000	$22	72
1110 W Delaware St	0.32mi	3/1.0	1,529 (-13%)	5mo	$20,000	$13	55
514 N 3rd Ave	0.27mi	3/2.0	1,969 (+12%)	18mo	$135,000	$69	52
618 N Fifth Ave	0.34mi	2/1.0 (-1)	1,904 (+8%)	16mo	$60,000	$32	49
1025 N Second Ave	0.64mi	3/1.0	1,938 (+10%)	1mo	$85,000	$44	48
920 W Florida St	0.74mi	3/2.0	1,875 (+6%)	11mo	$24,002	$13	45
1409 W Maryland St	0.50mi	4/1.0 (+1)	1,998 (+14%)	1mo	$90,000	$45	44
1310 W Delaware St	0.35mi	2/1.0 (-1)	2,022 (+15%)	10mo	$40,000	$20	42
1025 N Third Ave	0.58mi	3/2.0	1,979 (+12%)	14mo	$18,500	$9	41
922 Edgar St	0.66mi	4/1.0 (+1)	1,631 (-7%)	15mo	$147,000	$90	35
1216 N Second Ave	0.74mi	4/1.0 (+1)	1,600 (-9%)	18mo	$79,900	$50	26

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: 6.1%
• Equity multiple: 1.25×
• Total profit: $6,887
• Equity at exit: $14,895

10-year hold

• IRR: 18.6%
• Equity multiple: 2.82×
• Total profit: $50,852
• 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 47711

• Home prices YoY: -32.3%
• Rents YoY: 6.7%
• Active inventory: 229
• Price-to-rent: 6.7×

Monthly cashflow live

• Estimated rent: $1,237 medium
• Mortgage (P&I): −$524
• Tax est. 1.5%: −$125 /mo · $1,498/yr
• Insurance: −$42
• HOA: −$0
• Vacancy / Maint / Mgmt: −$260
• Net cashflow: $287

Break-even live

Break-even rent $874

Max offer price $99,900

Occupancy floor 72%

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 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
27 W Franklin St Evansville, IN	4.0	2.5	2500	$1,100	$0.44	21d	1	0.82mi
1317 Harriet St Evansville, IN	3.0	2.0	2000	$995	$0.50	13d	1	0.95mi
322 SE 1st St Evansville, IN	1.0–2.0	1.0	1100	$1,700	$1.55	21d	6	0.96mi
1319 Uhlhorn St Evansville, IN	3.0	2.0	1424	$1,350	$0.95	13d	1	1.17mi
121 E Florida St Evansville, IN	4.0	2.0	1702	$100	$0.06	21d	1	1.25mi
109 E Eichel Ave Unit B Evansville, IN	4.0	2.0	1228	$1,257	$1.02	21d	1	1.30mi

Listing history 16 events

1. 2026-06-18
   days on market $99,900 Active 260 DOM
2. 2026-06-17
   days on market $99,900 Active 259 DOM
3. 2026-06-16
   days on market $99,900 Active 258 DOM
4. 2026-06-15
   days on market $99,900 Active 257 DOM
5. 2026-06-14
   days on market $99,900 Active 255 DOM
6. 2026-06-13
   days on market $99,900 Active 254 DOM
7. 2026-06-10
   days on market $99,900 Active 252 DOM
8. 2026-06-09
   days on market $99,900 Active 251 DOM
9. 2026-06-08
   days on market $99,900 Active 250 DOM
10. 2026-06-07
    days on market $99,900 Active 249 DOM
11. 2026-06-02
    days on market $99,900 Active 244 DOM
12. 2026-06-01
    days on market $99,900 Active 243 DOM
13. 2026-05-31
    days on market $99,900 Active 242 DOM
14. 2026-05-30
    days on market $99,900 Active 241 DOM
15. 2025-10-01
    listed $99,900 Active

    Show marketing remark (741 chars)

    Investor Special! Built in 1916, this duplex offers great potential with classic charm and spacious layouts. The main level unit features 2 bedrooms, 1 full bath, plus access to the basement with storage and laundry area. The upstairs unit includes 1 bedroom and 1 full bath, with the possibility of being converted into a 2-bedroom unit for increased rental income. Each unit is approximately 880 sq. ft. , with an additional 220 sq. ft. basement. Property sits on a nice backyard lot, accessible from the alley. This property is ideal for investors or anyone looking to add value with updates and improvements. With some TLC, this duplex could be a strong income-producing property. To be sold As-Is, Where-Is. Seller will make no repairs.

16. 2025-10-01
    listed $99,900 Active 741-char remark

    Show marketing remark (741 chars)

    Investor Special! Built in 1916, this duplex offers great potential with classic charm and spacious layouts. The main level unit features 2 bedrooms, 1 full bath, plus access to the basement with storage and laundry area. The upstairs unit includes 1 bedroom and 1 full bath, with the possibility of being converted into a 2-bedroom unit for increased rental income. Each unit is approximately 880 sq. ft. , with an additional 220 sq. ft. basement. Property sits on a nice backyard lot, accessible from the alley. This property is ideal for investors or anyone looking to add value with updates and improvements. With some TLC, this duplex could be a strong income-producing property. To be sold As-Is, Where-Is. Seller will make no repairs.

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

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 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: $14,841
• − Mortgage interest: −$5,596
• − Property taxes: −$1,498
• − Insurance: −$500
• − Repairs & maintenance: −$1,187
• − Management: −$1,187
• − Depreciation: −$2,906
• Taxable income: $1,966
• Est. tax owed @ 24.0%: −$472
• After-tax cash flow: $2,968/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

+0.0% since first listed

2 events — show timeline

• 2025-10-01 Listed $99,900 IRMLS
• 2025-10-01 Listed $99,900 IRMLS