4300 E Riverside Dr · Evansville, IN 47714

$156,500

3 bd · 1.0 ba · 1,084 sqft · SingleFamily public records · 49 Days on market

Built 1954 8,712 sqft lot Est $177k · 11% under

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Why this score? — see what drove the D+ 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 +15.0/30.0
• ARV discount +12.6/15.0
• DSCR +4.6/10.0
• Rent growth +4.5/5.0
• Schools +3.3/10.0
• Livability +3.2/5.0
• 1% rule +3.0/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Sitting on a corner lot, this lovely 3 bed/1 bath home is warm and inviting. In addition to the eat-in kitchen, you'll find a living room AND a family room, which offer your family plenty of space to entertain and relax. There is 2.5-car detached garage offering lots of space for storage or workshop.

Key facts

• Spacious yard
• Updated hvac system
• Newer roof

Tags

• UPDATED HVAC SYSTEM
• NEWER ROOF
• UPDATED LANDSCAPING
• SPACIOUS YARD

Property features AI

Exterior

• Parking: Detached off-street garage (1.5 spaces)
• Utilities: Public water; Public sewer
• Home design: Single-family residence, site-built; One story
• Construction: Aluminum siding
• Exterior features: Corner lot; Lot dimensions approximately 75 x 118

Interior

• Bathrooms: One full bathroom (main level)
• Heating & cooling: Central air conditioning; Heating via natural gas and electric
• Interior features: Crawl space basement; Seven total rooms
• Laundry & utility: Main-level laundry

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $156k.

Deal economics

• At list price, monthly cash flow is $48 ($572/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 $124k (20.5% below list).
• Recommended offer: $124k (20.5% below list) — sets the bar for 1% rule.
• Cap rate 6.7% 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: Caze Elementary School (math 17% / reading 17%, grade F, #837 of 994 statewide, top 86%, 393 students, 79% FRL); Mcgary Middle School (math 8% / reading 15%, grade F, #311 of 330 statewide, top 94%, 351 students, 81% FRL); William Henry Harrison High School (math 29% / reading 54%, grade F, #211 of 369 statewide, top 58%, 1,158 students, 61% FRL) — zoned schools average 73% FRL vs 50% district-wide (23 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 23% at this address vs 40% district-wide (-16 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; 15 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 $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 49 days — a 3% lower offer ($152k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 5y 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 $92k; list at $156k implies a 69% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1954 — 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 $124,443 (20.5% below list)

Questions for the listing agent

1. It's been on market 49 days. Have you received any prior offers? Is the seller open to a 20% concession, seller financing, or rate buy-down credit?
2. Built in 1954 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
6. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 0.80% ✗
• Cap rate: 6.66%
• Cash-on-cash: 1.31%
• DSCR: 1.06
• GRM: 10.5

CMA / ARV

• ARV (on-the-fly): $176,692
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
4300 E Riverside Dr	0.00mi	4/1.0 (+1)	1,084 (0%)	0mo	$158,500	$146	95
2819 Promise St	0.26mi	3/1.0	1,176 (+8%)	1mo	$174,750	$149	73
4016 Frisse Ave	0.15mi	3/1.0	972 (-10%)	7mo	$167,000	$172	70
1733 Burdette Ave	0.62mi	3/1.0	1,056 (-3%)	6mo	$180,000	$170	62
1913 Jeanette Ave	0.53mi	3/1.0	999 (-8%)	3mo	$108,000	$108	59
4550 Sweetser Ave	0.55mi	3/1.0	1,014 (-6%)	6mo	$184,500	$182	58
2714 Vann Ave	0.70mi	2/1.0 (-1)	1,038 (-4%)	0mo	$149,900	$144	55
2422 Filly Dr	0.54mi	3/2.0	1,176 (+8%)	3mo	$239,000	$203	54
3407 Pollack Ave	0.63mi	3/1.0	970 (-10%)	0mo	$130,000	$134	53
4537 Greencove Ave	0.72mi	3/2.0	1,172 (+8%)	2mo	$202,400	$173	48
3412 Conlin Ave	0.74mi	3/1.0	988 (-9%)	4mo	$155,000	$157	48
3707 Ridgeway Ave	0.70mi	3/1.0	1,229 (+13%)	8mo	$200,000	$163	38

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: -9.6%
• Equity multiple: 0.63×
• Total profit: $-16,009
• Equity at exit: $23,335

10-year hold

• IRR: 4.9%
• Equity multiple: 1.43×
• Total profit: $18,651
• Equity at exit: $13,531

Cash invested: $43,820 (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: 10.5×

Monthly cashflow live

• Estimated rent: $1,244 high
• Mortgage (P&I): −$821
• Tax from tax record: −$49 /mo · $594/yr
• Insurance: −$65
• HOA: −$0
• Vacancy / Maint / Mgmt: −$261
• Net cashflow: $48

Break-even live

Break-even rent $1,184

Max offer price $156,500

Occupancy floor 91%

Sensitivity live

Price	-10% $136	-5% $92	+0% $48	+5% $3	+10% $-41
Rent	-10% $-51	-5% $-1	+0% $48	+5% $97	+10% $146
Rate	-1.0pp $127	-0.5pp $88	base $48	+0.5pp $7	+1.0pp $-34

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: $39,125
• Closing costs: $4,695
• Reserves months: —
• Total cash needed: —

Rent comps 15 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1621 Burdette Ave Evansville, IN	2.0	1.0	720	$1,050	$1.46	22d	1	0.70mi
4689 Covert Ave Unit 4629 Evansville, IN	2.0	1.0	725	$775	$1.07	14d	1	0.76mi
1900 Pueblo Pass Evansville, IN	2.0–3.0	1.5	1081	$1,379	$1.28	14d	5	0.81mi
1411 Jeanette Ave Unit 1411 Evansville, IN	3.0	1.5	1210	$1,195	$0.99	22d	1	0.95mi
3700 Justus Ct Evansville, IN	1.0–2.0	1.0–2.0	790	$975	$1.23	22d	1	0.96mi
2818 S Villa Dr Evansville, IN	3.0	1.0	1061	$1,295	$1.22	22d	1	0.99mi
1320 Lee Ct Evansville, IN	1.0–4.0	1.0–1.5	1007	$1,266	$1.26	14d	36	1.05mi
1165 Shiloh Sq Evansville, IN	1.0–2.0	1.0–2.0	907	$1,145	$1.26	14d	15	1.09mi
1713 Hawthorne Ave Evansville, IN	3.0	2.0	1204	$1,395	$1.16	22d	1	1.12mi
5301 Stonehedge Dr Evansville, IN	1.0–2.0	1.0–2.0	914	$1,170	$1.28	14d	19	1.13mi
2947 Ravenswood Dr Unit 2927 Evansville, IN	2.0	1.0	1150	$975	$0.85	22d	1	1.20mi
1100 Erie Ave Evansville, IN	1.0–3.0	1.0–2.0	962	$1,500	$1.56	22d	2	1.30mi
2001 S Taft Ave Evansville, IN	3.0	2.0	1472	$1,000	$0.68	22d	1	1.35mi
2232 E Riverside Dr Evansville, IN	2.0	1.0	810	$1,200	$1.48	14d	1	1.40mi
950 S Hebron Ave Apt 301 Evansville, IN	2.0	1.0	1088	$1,900	$1.75	22d	1	1.43mi

Listing history 7 events

1. 2026-05-14
   status Pending
2. 2026-05-10
   status Active
3. 2026-04-23
   status Pending
4. 2026-04-04
   price $156,500
5. 2026-03-09
   listed $160,000 Active
6. 2021-04-27
   soldstatus $92,500 301-char remark

   Show marketing remark (301 chars)

   Sitting on a corner lot, this lovely 3 bed/1 bath home is warm and inviting. In addition to the eat-in kitchen, you'll find a living room AND a family room, which offer your family plenty of space to entertain and relax. There is 2.5-car detached garage offering lots of space for storage or workshop.

7. 2021-03-31
   listed $85,000 301-char remark

   Show marketing remark (301 chars)

   Sitting on a corner lot, this lovely 3 bed/1 bath home is warm and inviting. In addition to the eat-in kitchen, you'll find a living room AND a family room, which offer your family plenty of space to entertain and relax. There is 2.5-car detached garage offering lots of space for storage or workshop.

ⓘ 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: $594 · $49/mo
• Projected year-2 tax: $962 · $80/mo
• Expected delta: +$368/yr (+$31/mo · 62.0%)

ⓘ 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 · 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 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: $14,933
• − Mortgage interest: −$8,766
• − Property taxes: −$594
• − Insurance: −$782
• − Repairs & maintenance: −$1,195
• − Management: −$1,195
• − Depreciation: −$4,553
• Taxable loss: −$2,152
• Est. tax savings @ 24.0%: +$516
• After-tax cash flow: $1,089/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

+84.1% since first listed

7 events — show timeline

• 2026-05-14 Pending — IRMLS
• 2026-05-10 Relisted — IRMLS
• 2026-04-23 Pending — IRMLS
• 2026-04-04 Price Changed $156,500 IRMLS
• 2026-03-09 Listed $160,000 IRMLS
• 2021-04-27 Sold (MLS) $92,500 IRMLS
• 2021-03-31 Listed $85,000 IRMLS

Property tax history

+13.8%/yr

Latest (2024): $594 · +4.4% YoY. Source: county tax records.