9940 Chatteris Rd · Evansville, IN 47725

$235,000

3 bd · 2.0 ba · 1,256 sqft · SingleFamily public records · 6 Days on market

Built 2003 7,200 sqft lot Est $235k · at est. $14/mo HOA · 1% of rent

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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 +7.5/15.0
• DSCR +4.6/10.0
• 1% rule +3.5/10.0
• 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

Welcome to this move in ready three-bedroom, two-bathroom home with a 2.5 car attached garage that is situated on Evansville's north side. Upon entering you will find a foyer leading to the great room featuring a vaulted ceiling, ceiling fan and attached flat screen television mounting bracket. Adjacent to the living room is the eat-in kitchen featuring plenty of cabinets and counter-tops space and includes all appliances. The primary suite has carpet, ceiling fan, a private bath with a walk-in closet. The two additional bedrooms are generous in size offering plenty of closet space and share a hall bath. The concrete patio and fully fenced yard is conveniently accessed from the kitchen. An AHS Limited Home Warranty is in place at a cost of $675.00.

Key facts

• All new appliances
• Large great room
• 7,200 sq ft lot

Tags

• SPLIT BEDROOM FLOOR PLAN
• OPEN CONCEPT EAT-IN KITCHEN
• LARGE GREAT ROOM
• PATIO OVERLOOKING BACKYARD
• FULLY FENCED BACKYARD
• ALL NEW APPLIANCES

Property features AI

Finance

• Other: Directions: Highway 57 to Kansas Road to right on Seib Rd. Take next left onto Clippinger Road followed by a right turn onto Chatteris.
• HOA & community: Homeowners association with an annual fee of $170 (about $14.17/month); Subdivision: Stone Creek / Stonecreek

Exterior

• Parking: Attached garage; Approximately 2.5 garage spaces; Garage with concrete driveway and garage door opener; Off-street parking
• Security: Smoke detectors; Carbon monoxide detectors
• Utilities: Public water; Public sewer
• Home design: Single-family residence (site-built); One-story
• Construction: Vinyl siding; Slab foundation
• Exterior features: Patio; Storm door(s); Privacy wood fencing; Level, landscaped lot; Lot dimensions approximately 60 x 120

Interior

• Kitchen: Disposal; Dishwasher; Microwave; Refrigerator; Electric oven; Electric range
• Bedrooms: Bedrooms on main level
• Flooring: Vinyl flooring
• Bathrooms: 2 full bathrooms
• Heating & cooling: Natural gas heating; Central air conditioning
• Interior features: Vaulted ceilings; Walk-in closet(s); Entrance foyer; Open floorplan; Primary suite on main level; Window treatments
• Laundry & utility: Washer hookup on main level; Electric dryer hookup on main level; Gas water heater

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $235k.

Deal economics

• At list price, monthly cash flow is $73 ($872/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 (15.1% below list).
• Recommended offer: $200k (15.1% 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: 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 $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.

Negotiation context

• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 3y 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.

Risks & watch-outs

• Climate carrying-cost: extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $199,500 (15.1% below list)

Questions for the listing agent

1. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
5. 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?
6. 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.
7. 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.
8. 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: 0.85% ✗
• Cap rate: 6.66%
• Cash-on-cash: 1.33%
• DSCR: 1.06
• GRM: 9.8

CMA / ARV

• ARV (on-the-fly): $234,872
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
9901 Chatteris Rd	0.06mi	3/2.0	1,184 (-6%)	1mo	$245,000	$207	87
3001 Galleon Dr	0.09mi	3/2.0	1,357 (+8%)	2mo	$206,500	$152	81
3006 Galleon Dr	0.10mi	3/2.0	1,357 (+8%)	2mo	$205,000	$151	80
10120 Clippinger Rd	0.18mi	3/2.0	1,202 (-4%)	10mo	$243,000	$202	76
9629 Cayes Dr	0.26mi	3/2.0	1,319 (+5%)	5mo	$185,000	$140	75
10311 Anchor Way	0.23mi	3/2.0	1,164 (-7%)	4mo	$224,000	$192	74
3021 Mooring Rd	0.27mi	3/2.0	1,366 (+9%)	6mo	$247,500	$181	68
10235 Admiral Dr	0.18mi	3/2.0	1,430 (+14%)	7mo	$245,000	$171	63
9209 Cayes Dr	0.50mi	3/2.0	1,360 (+8%)	9mo	$239,900	$176	55
9828 Massey Dr	0.46mi	3/2.0	1,408 (+12%)	6mo	$284,900	$202	53
2441 Belize Dr	0.49mi	3/2.0	1,415 (+13%)	10mo	$279,900	$198	48
2330 Verona Ct	0.53mi	3/2.0	1,431 (+14%)	6mo	$267,500	$187	47

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: -14.2%
• Equity multiple: 0.49×
• Total profit: $-33,495
• Equity at exit: $35,039

10-year hold

• IRR: -5.5%
• Equity multiple: 0.64×
• Total profit: $-23,385
• Equity at exit: $20,319

Cash invested: $65,800 (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: 9.8×

Monthly cashflow live

• Estimated rent: $1,995 medium
• Mortgage (P&I): −$1,232
• Tax from tax record: −$159 /mo · $1,909/yr
• Insurance: −$98
• HOA: −$14
• Vacancy / Maint / Mgmt: −$419
• Net cashflow: $73

Break-even live

Break-even rent $1,903

Max offer price $235,000

Occupancy floor 91%

Sensitivity live

Price	-10% $206	-5% $139	+0% $73	+5% $6	+10% $-60
Rent	-10% $-85	-5% $-6	+0% $73	+5% $151	+10% $230
Rate	-1.0pp $191	-0.5pp $132	base $73	+0.5pp $12	+1.0pp $-50

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: $58,750
• Closing costs: $7,050
• 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	0.51mi

HOA detail

• Monthly dues: $14 · $168/yr

Listing history 5 events

1. 2026-05-22
   status Pending
2. 2026-05-15
   listed $235,000 Active
3. 2023-03-21
   soldstatus $209,660 Closed 758-char remark

   Show marketing remark (758 chars)

   Welcome to this move in ready three-bedroom, two-bathroom home with a 2.5 car attached garage that is situated on Evansville's north side. Upon entering you will find a foyer leading to the great room featuring a vaulted ceiling, ceiling fan and attached flat screen television mounting bracket. Adjacent to the living room is the eat-in kitchen featuring plenty of cabinets and counter-tops space and includes all appliances. The primary suite has carpet, ceiling fan, a private bath with a walk-in closet. The two additional bedrooms are generous in size offering plenty of closet space and share a hall bath. The concrete patio and fully fenced yard is conveniently accessed from the kitchen. An AHS Limited Home Warranty is in place at a cost of $675.00.

4. 2023-02-23
   status Pending 758-char remark

   Show marketing remark (758 chars)

   Welcome to this move in ready three-bedroom, two-bathroom home with a 2.5 car attached garage that is situated on Evansville's north side. Upon entering you will find a foyer leading to the great room featuring a vaulted ceiling, ceiling fan and attached flat screen television mounting bracket. Adjacent to the living room is the eat-in kitchen featuring plenty of cabinets and counter-tops space and includes all appliances. The primary suite has carpet, ceiling fan, a private bath with a walk-in closet. The two additional bedrooms are generous in size offering plenty of closet space and share a hall bath. The concrete patio and fully fenced yard is conveniently accessed from the kitchen. An AHS Limited Home Warranty is in place at a cost of $675.00.

5. 2023-02-21
   listed $199,500 Active 758-char remark

   Show marketing remark (758 chars)

   Welcome to this move in ready three-bedroom, two-bathroom home with a 2.5 car attached garage that is situated on Evansville's north side. Upon entering you will find a foyer leading to the great room featuring a vaulted ceiling, ceiling fan and attached flat screen television mounting bracket. Adjacent to the living room is the eat-in kitchen featuring plenty of cabinets and counter-tops space and includes all appliances. The primary suite has carpet, ceiling fan, a private bath with a walk-in closet. The two additional bedrooms are generous in size offering plenty of closet space and share a hall bath. The concrete patio and fully fenced yard is conveniently accessed from the kitchen. An AHS Limited Home Warranty is in place at a cost of $675.00.

ⓘ 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: $1,909 · $159/mo
• Projected year-2 tax: $1,953 · $163/mo
• Expected delta: +$44/yr (+$4/mo · 2.3%)

ⓘ 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 · 20 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: −$13,164
• − Property taxes: −$1,909
• − Insurance: −$1,175
• − Repairs & maintenance: −$1,915
• − Management: −$1,915
• − HOA: −$168
• − Depreciation: −$6,836
• Taxable loss: −$3,142
• Est. tax savings @ 24.0%: +$754
• After-tax cash flow: $1,626/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

+17.8% since first listed

5 events — show timeline

• 2026-05-22 Pending — IRMLS
• 2026-05-15 Listed $235,000 IRMLS
• 2023-03-21 Sold (MLS) $209,660 IRMLS
• 2023-02-23 Pending — IRMLS
• 2023-02-21 Listed $199,500 IRMLS

Property tax history

+6.6%/yr

Latest (2024): $1,909 · -0.2% YoY. Source: county tax records.