1318 Marshall Ave · Evansville, IN 47714

$29,900

1 bd · 1.0 ba · 546 sqft · SingleFamily public records · 97 Days on market

Built 1925 4,550 sqft lot

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• 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

Needs TLC. May be purchased as a package with 1314 Marshall (the white home next door to the north). Property sold as-is.

Key facts

• 4,550 sq ft lot
• Garage
• Built 1925

Property features AI

Exterior

• Parking: Detached garage (1.5 car)
• Utilities: Public water; Public sewer
• Home design: Single-family residence; Site-built home; One story
• Construction: Aluminum siding; Vinyl siding
• Exterior features: Level lot; Lot dimensions approximately 35 x 130

Interior

• Bathrooms: 1 full bathroom (main level)
• Heating & cooling: Central air conditioning; Forced air heating
• Interior features: Crawl space basement; 3 total rooms

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath single-family listed at $30k.

Deal economics

• At list price, monthly cash flow is $480 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($907 rent vs $30k).
• Recommended offer: $27k (9.0% below list) — sets the bar for market timing.
• Cap rate 25.6% 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); New Tech Institute (math 34% / reading 74%, grade C-, #79 of 369 statewide, top 26%, 275 students, 40% FRL).
• Market conditions: Rents rising fast (+7.9%/yr); 191 active listings in the ZIP; 10 comparable units currently listed for rent nearby; rentals at typical pace (median 23d 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 $207 of loan paydown is wiped out by about $897 of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 7.9% rent growth), your $8k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 97 days — a 9% lower offer ($27k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 12y ago; this cycle's ask has dropped $8k (21%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $14k; list at $30k implies a 109% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 2.7% of price; built in 1925 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk; extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $27,209 (9.0% below list)

Questions for the listing agent

1. It's been on market 97 days. Have you received any prior offers? Is the seller open to a 9% 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. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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.
9. 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.
10. 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: 3.03% ✓
• Cap rate: 25.57%
• Cash-on-cash: 68.86%
• DSCR: 4.06
• GRM: 2.7

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 7.86% rent growth · sell at horizon

5-year hold

• IRR: 74.0%
• Equity multiple: 4.64×
• Total profit: $30,439
• Equity at exit: $4,458

10-year hold

• IRR: 79.2%
• Equity multiple: 11.41×
• Total profit: $87,153
• Equity at exit: $2,585

Cash invested: $8,372 (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: 191
• Price-to-rent: 2.7×

Monthly cashflow live

• Estimated rent: $907 high
• Mortgage (P&I): −$157
• Tax from tax record: −$67 /mo · $803/yr
• Insurance: −$12
• HOA: −$0
• Vacancy / Maint / Mgmt: −$190
• Net cashflow: $480

Break-even live

Break-even rent $299

Max offer price $29,900

Occupancy floor 42%

Sensitivity live

Price	-10% $497	-5% $489	+0% $480	+5% $472	+10% $464
Rent	-10% $409	-5% $445	+0% $480	+5% $516	+10% $552
Rate	-1.0pp $495	-0.5pp $488	base $480	+0.5pp $473	+1.0pp $465

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: $7,475
• Closing costs: $897
• Reserves months: —
• Total cash needed: —

Rent comps 10 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1500 S Harlan Ave Evansville, IN	2.0	1.0	712	$900	$1.26	15d	1	0.11mi
1909 Taylor Ave Evansville, IN	2.0	1.0	700	$1,200	$1.71	15d	1	0.51mi
2340 Sunburst Blvd Unit 2210-104 Evansville, IN	1.0	1.0	631	$785	$1.24	22d	1	1.00mi
538 S Spring St Evansville, IN	1.0	1.0	500	$850	$1.70	22d	1	1.12mi
507 S Evans Ave Evansville, IN	2.0	1.0	750	$795	$1.06	22d	1	1.17mi
1231 Culver Dr Unit C Evansville, IN	1.0	1.0	575	$625	$1.09	22d	1	1.24mi
1407 Howard St Evansville, IN	1.0	1.0	483	$725	$1.50	22d	1	1.34mi
1440 E Division St Evansville, IN	2.0	1.0	689	$1,250	$1.81	15d	1	1.34mi
2501 Pollack Ave Evansville, IN	2.0	1.0	648	$1,080	$1.67	22d	1	1.38mi
8 E Blackford Ave Evansville, IN	1.0	1.0	750	$825	$1.10	22d	1	1.45mi

Listing history 27 events

1. 2026-06-22
   days on market $29,900 Active 97 DOM
2. 2026-06-18
   days on market $29,900 Active 94 DOM
3. 2026-06-17
   days on market $29,900 Active 93 DOM
4. 2026-06-16
   days on market $29,900 Active 92 DOM
5. 2026-06-15
   days on market $29,900 Active 91 DOM
6. 2026-06-14
   days on market $29,900 Active 89 DOM
7. 2026-06-13
   days on market $29,900 Active 88 DOM
8. 2026-06-10
   days on market $29,900 Active 86 DOM
9. 2026-06-09
   days on market $29,900 Active 85 DOM
10. 2026-06-08
    days on market $29,900 Active 84 DOM
11. 2026-06-07
    days on market $29,900 Active 83 DOM
12. 2026-06-02
    days on market $29,900 Active 78 DOM
13. 2026-06-01
    days on market $29,900 Active 77 DOM
14. 2026-05-31
    days on market $29,900 Active 76 DOM
15. 2026-05-30
    days on market $29,900 Active 75 DOM
16. 2026-03-24
    price $29,900
17. 2026-03-09
    listed $38,000 Active
18. 2024-08-07
    price $25,000
19. 2024-07-31
    price $26,000
20. 2024-07-29
    price $35,000
21. 2024-07-25
    price $42,000
22. 2024-07-24
    price $420,000
23. 2024-07-24
    listed $430,000 Active
24. 2022-02-23
    soldstatus 121-char remark

    Show marketing remark (121 chars)

    Needs TLC. May be purchased as a package with 1314 Marshall (the white home next door to the north). Property sold as-is.

25. 2022-01-21
    listed $19,000 121-char remark

    Show marketing remark (121 chars)

    Needs TLC. May be purchased as a package with 1314 Marshall (the white home next door to the north). Property sold as-is.

26. 2014-07-11
    soldstatus $14,285
27. 2014-01-29
    listed $13,900

ⓘ 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: $803 · $67/mo
• Projected year-2 tax: $803 · $67/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 6/10 Major FEMA zone X · 71% 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 3 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $10,885
• − Mortgage interest: −$1,675
• − Property taxes: −$803
• − Insurance: −$150
• − Repairs & maintenance: −$871
• − Management: −$871
• − Depreciation: −$870
• Taxable income: $5,646
• Est. tax owed @ 24.0%: −$1,355
• After-tax cash flow: $4,410/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

+115.1% since first listed

12 events — show timeline

• 2026-03-24 Price Changed $29,900 IRMLS
• 2026-03-09 Listed $38,000 IRMLS
• 2024-08-07 Price Changed $25,000 IRMLS
• 2024-07-31 Price Changed $26,000 IRMLS
• 2024-07-29 Price Changed $35,000 IRMLS
• 2024-07-25 Price Changed $42,000 IRMLS
• 2024-07-24 Price Changed $420,000 IRMLS
• 2024-07-24 Listed $430,000 IRMLS
• 2022-02-23 Sold (MLS) — IRMLS
• 2022-01-21 Listed $19,000 IRMLS
• 2014-07-11 Sold (MLS) $14,285 IRMLS
• 2014-01-29 Listed $13,900 IRMLS

Property tax history

-2.3%/yr

Latest (2024): $803 · +1.5% YoY. Source: county tax records.