3042 Galleon Dr · Evansville, IN 47725

$210,000

3 bd · 2.0 ba · 1,342 sqft · SingleFamily public records · 3 Days on market

Built 2005 4,356 sqft lot Est $258k · 18% under

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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 +20.0/30.0
• ARV discount +15.0/15.0
• DSCR +6.3/10.0
• 1% rule +4.5/10.0
• 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 immaculate north side 3 bedroom, 2 bath patio home is move-in ready and is situated in Stonecreek Subdivision with a fenced backyard and patio. The great room with soaring ceiling and updated flooring opens to the eat-in kitchen with breakfast bar, an abundance of cabinets, and stainless steel appliances included with newer refrigerator. The main level offers two spacious bedrooms one with a soaring ceiling and both with access to the full hall bath with tub/shower combo. The second level with newer carpet offers a large bedroom that is perfect for a master suite and has a full bath with tub/shower combo. This great home with an attached garage offers neutral decor and is located with easy access to shopping, dining, and great schools. Additional updates per seller include new garage door opener with keypad, new hot water heater, interior pant throughout, and much more. A home warranty is being included for additional peace of mind.

Key facts

• New tank
• New ceiling fan
• New fencing

Tags

• NEW FLOORING
• SMART THERMOSTAT
• NEW CEILING FAN
• NEW TANK
• NEW GARAGE DOOR OPENER
• NEW FENCING

Property features AI

Exterior

• Parking: Attached garage with garage door opener; Approximately 1.5 garage spaces; Concrete driveway
• Security: Smoke detectors
• Utilities: Public water; Public sewer; Cable available
• Home design: Single-family residence (site-built); One story; Home warranty included
• Construction: Wood siding; Slab foundation
• Exterior features: Patio; Privacy wood fencing; Level lot; Lot dimensions approximately 36 x 110

Interior

• Kitchen: Disposal; Dishwasher; Microwave; Refrigerator; Ice maker; Electric oven; Electric range; Gas water heater
• Bedrooms: Total rooms: 5
• Flooring: Carpet; Vinyl
• Bathrooms: 2 full bathrooms; 1 bathroom on the main level
• Heating & cooling: Natural gas heat; Central air; Ceiling fans
• Interior features: Vaulted ceilings; Breakfast bar; Ceiling fans; Eat-in kitchen; Open floorplan
• Laundry & utility: Laundry on the main level

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $210k.

Deal economics

• At list price, monthly cash flow is $257 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $200k (5.0% below list).
• Recommended offer: $200k (5.0% below list) — sets the bar for 1% rule.
• Cap rate 7.8% 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: Mccutchanville Elementary School (math 74% / reading 73%, grade A, #23 of 994 statewide, top 3%, 938 students, 20% 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) — zoned schools average 32% FRL vs 50% district-wide (18 pts lower); this property's tenant base skews higher-income than the district average.
• Zoned-school proficiency averages 63% at this address vs 40% district-wide (+24 pts) — the actual schools serving this property are materially stronger than the Evansville Vanderburgh School Corporation average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: 423 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 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 $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.

Negotiation context

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 7y 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.
• Current owner paid $131k; list at $210k implies a 60% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• 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 $199,500 (5.0% below list)

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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?
3. 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?
4. 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.
5. 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.
6. 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: 0.95% ✗
• Cap rate: 7.76%
• Cash-on-cash: 5.24%
• DSCR: 1.23
• GRM: 8.8

CMA / ARV

• ARV (on-the-fly): $257,664
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3006 Galleon Dr	0.05mi	3/2.0	1,357 (+1%)	2mo	$205,000	$151	95
3001 Galleon Dr	0.06mi	3/2.0	1,357 (+1%)	2mo	$206,500	$152	94
9629 Cayes Dr	0.32mi	3/2.0	1,319 (-2%)	5mo	$185,000	$140	78
9901 Chatteris Rd	0.14mi	3/2.0	1,184 (-12%)	1mo	$245,000	$207	73
10008 Clippinger Rd	0.13mi	3/2.0	1,491 (+11%)	4mo	$225,000	$151	72
10311 Anchor Way	0.15mi	3/2.0	1,164 (-13%)	4mo	$224,000	$192	68
9820 Chatteris Rd	0.17mi	4/2.0 (+1)	1,501 (+12%)	3mo	$272,000	$181	64
2840 Mooring Rd	0.25mi	3/2.0	1,526 (+14%)	5mo	$270,000	$177	62
3009 Atcheson Dr	0.67mi	3/2.0	1,457 (+9%)	4mo	$286,317	$197	51
11135 Ensle Dr	0.67mi	3/2.0	1,457 (+9%)	5mo	$290,000	$199	50
2947 Atcheson Dr	0.67mi	3/2.0	1,457 (+9%)	5mo	$289,800	$199	50
3001 Atcheson Dr	0.67mi	3/2.0	1,535 (+14%)	3mo	$305,000	$199	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: -8.2%
• Equity multiple: 0.70×
• Total profit: $-17,721
• Equity at exit: $31,312

10-year hold

• IRR: 1.3%
• Equity multiple: 1.09×
• Total profit: $5,425
• Equity at exit: $18,157

Cash invested: $58,800 (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 47725

• Home prices YoY: -28.3%
• Active inventory: 423
• Price-to-rent: 8.8×

Monthly cashflow live

• Estimated rent: $1,995 medium
• Mortgage (P&I): −$1,101
• Tax from tax record: −$130 /mo · $1,565/yr
• Insurance: −$88
• HOA: −$0
• Vacancy / Maint / Mgmt: −$419
• Net cashflow: $257

Break-even live

Break-even rent $1,670

Max offer price $210,000

Occupancy floor 82%

Sensitivity live

Price	-10% $376	-5% $316	+0% $257	+5% $197	+10% $138
Rent	-10% $99	-5% $178	+0% $257	+5% $336	+10% $414
Rate	-1.0pp $363	-0.5pp $310	base $257	+0.5pp $202	+1.0pp $147

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: $52,500
• Closing costs: $6,300
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2331 Jamaica Ct Evansville, IN	3.0	2.0	1388	$1,995	$1.44	15d	1	0.54mi

Listing history 4 events

1. 2026-06-01
   statusdays on market $210,000 Pending 3 DOM
2. 2026-05-31
   days on market $210,000 Active 2 DOM
3. 2026-05-30
   remarks 699-char remark
4. 2026-05-30
   listed $210,000 Active 1 DOM

ⓘ 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: $1,565 · $130/mo
• Projected year-2 tax: $1,675 · $140/mo
• Expected delta: +$110/yr (+$9/mo · 7.0%)

ⓘ 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 2/10 Low 4% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $23,940
• − Mortgage interest: −$11,763
• − Property taxes: −$1,565
• − Insurance: −$1,050
• − Repairs & maintenance: −$1,915
• − Management: −$1,915
• − Depreciation: −$6,109
• Taxable loss: −$378
• Est. tax savings @ 24.0%: +$91
• After-tax cash flow: $3,173/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

• City population: 146,793
• Population (ZIP): 19,436

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 (92%)
• Race & ethnicity: White 92% Hispanic / Latino 3% Two or more races 3% Asian 2%
• Common ancestry: Romanian 2% Lithuanian 2% Slovak 1%
• Foreign-born: 2% · China
• Languages at home: 97% English-only · Other Asian/Pacific 1% Spanish 1% Tagalog/Filipino 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: ▼ -70.73%
• Current HPI: 179.2534
• Rent YoY: —
• Metro: —
• 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

+61.7% since first listed

3 events — show timeline

• 2026-05-28 Listed $210,000 IRMLS
• 2019-07-17 Sold (MLS) $131,000 IRMLS
• 2019-06-24 Listed $129,900 IRMLS

Property tax history

+6.4%/yr

Latest (2024): $1,565 · -5.2% YoY. Source: county tax records.