205 W Oregon St #207 · Evansville, IN 47710

$149,900

3 bd · 1.0 ba · 1,650 sqft · MultiFamily public records · 102 Days on market

Built 1909 4,680 sqft lot Est $145k · at est.

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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
• DSCR +10.0/10.0
• 1% rule +9.1/10.0
• ARV discount +6.0/15.0
• 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

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks MLS

Nice two- story duplex with lots of space throughout. Each unit has 3 Bedrooms, 1 Bath. Kitchen with washer/dryer hookups. Original wood trim throughout. Newer carpet in upper 207. Newer flooring in 205. Both Units are currently rented for $800/month. Separate gas, electric, water meters. Tenant's pay own utilities. Backyard is fenced in. 24 hour notice required. Serious inquiries ONLY.

Key facts

• 4,680 sq ft lot
• Built 1909
• Listed 102 days

Property features AI

Finance

• Other: Pets allowed

Exterior

• Utilities: Public water; Public sewer
• Home design: Duplex (residential income); 2-story
• Construction: Wood siding
• Exterior features: Covered patio/porch; Level lot

Interior

• Kitchen: Range; Refrigerator
• Flooring: Carpet; Laminate
• Bathrooms: 2 full bathrooms
• Heating & cooling: Natural gas heat; Central air conditioning
• Interior features: Eat-in kitchen; Partial, unfinished basement
• Laundry & utility: Washer hookup

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/1.0-bath units multifamily listed at $150k.

Deal economics

• At list price, monthly cash flow is $668 ($8k/yr) — positive. Per door: $334/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $150k).
• Recommended offer: $136k (9.0% below list) — sets the bar for market timing.
• Cap rate 11.6% 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: Delaware Elementary School (math 22% / reading 16%, grade F, #829 of 994 statewide, top 84%, 338 students, 90% 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).
• Market conditions: 91 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).
• At $2,118/mo this rent would consume 54% of the median local household income ($47k/yr) (locally 722% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $42k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 102 days — a 9% lower offer ($136k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 3y ago; this cycle's ask has dropped $10k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $95k; list at $150k implies a 58% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1909 — 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 $136,409 (9.0% below list)

Questions for the listing agent

1. It's been on market 102 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1909 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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?
9. 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.
10. 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.
11. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.41% ✓
• Cap rate: 11.64%
• Cash-on-cash: 19.09%
• DSCR: 1.85
• GRM: 5.9

CMA / ARV

• ARV (on-the-fly): $145,200
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
910 Harriet St	0.16mi	3/2.0	1,881 (+14%)	3mo	$165,000	$88	63

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: 11.0%
• Equity multiple: 1.44×
• Total profit: $18,259
• Equity at exit: $22,351

10-year hold

• IRR: 20.0%
• Equity multiple: 2.69×
• Total profit: $70,726
• Equity at exit: $12,961

Cash invested: $41,972 (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 47710

• Home prices YoY: -29.7%
• Active inventory: 91
• Price-to-rent: 11.8×

Monthly cashflow live

• Estimated rent: $2,118 high
• Mortgage (P&I): −$786
• Tax from tax record: −$157 /mo · $1,882/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$445
• Net cashflow: $668

Break-even live

Break-even rent $1,273

Max offer price $149,900

Occupancy floor 63%

Sensitivity live

Price	-10% $753	-5% $710	+0% $668	+5% $625	+10% $583
Rent	-10% $501	-5% $584	+0% $668	+5% $752	+10% $835
Rate	-1.0pp $743	-0.5pp $706	base $668	+0.5pp $629	+1.0pp $590

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	3	1	$2,118
Total (2 units)			$2,118

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: $37,475
• Closing costs: $4,497
• Reserves months: —
• Total cash needed: —

Rent comps 10 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1317 Harriet St Evansville, IN	3.0	2.0	2000	$995	$0.50	15d	1	0.25mi
121 E Florida St Evansville, IN	4.0	2.0	1702	$100	$0.06	23d	1	0.35mi
109 E Eichel Ave Unit B Evansville, IN	4.0	2.0	1228	$1,257	$1.02	23d	1	0.41mi
200 N Main St Evansville, IN	2.0	1.0–2.0	857	$1,599	$1.86	15d	7	0.50mi
41 W Division St Apt 200 Evansville, IN	2.0	2.0	1083	$1,500	$1.39	23d	1	0.64mi
706 Court St Evansville, IN	2.0	1.5	1100	$850	$0.77	23d	1	0.77mi
313 NW Martin Luther King Junior Blvd Unit 311 Evansville, IN	2.0	1.0	1200	$950	$0.79	23d	1	0.77mi
1319 Uhlhorn St Evansville, IN	3.0	2.0	1424	$1,350	$0.95	15d	1	1.05mi
202 SE 1st St Evansville, IN	1.0–2.0	1.0	926	$2,449	$2.64	23d	4	1.33mi
322 SE 1st St Evansville, IN	1.0–2.0	1.0	1100	$1,700	$1.55	23d	6	1.42mi

Listing history 28 events

1. 2026-06-22
   days on market $149,900 Active 102 DOM
2. 2026-06-18
   days on market $149,900 Active 99 DOM
3. 2026-06-17
   days on market $149,900 Active 98 DOM
4. 2026-06-16
   days on market $149,900 Active 97 DOM
5. 2026-06-15
   days on market $149,900 Active 96 DOM
6. 2026-06-14
   days on market $149,900 Active 94 DOM
7. 2026-06-13
   days on market $149,900 Active 93 DOM
8. 2026-06-10
   days on market $149,900 Active 91 DOM
9. 2026-06-09
   days on market $149,900 Active 90 DOM
10. 2026-06-08
    days on market $149,900 Active 89 DOM
11. 2026-06-07
    days on market $149,900 Active 88 DOM
12. 2026-06-02
    days on market $149,900 Active 83 DOM
13. 2026-06-01
    days on market $149,900 Active 82 DOM
14. 2026-05-31
    days on market $149,900 Active 81 DOM
15. 2026-05-30
    days on market $149,900 Active 80 DOM
16. 2026-05-12
    price $149,900
17. 2026-04-01
    price $154,900
18. 2026-03-11
    listed $159,900 Active
19. 2023-11-29
    soldstatus $95,000 Closed 389-char remark

    Show marketing remark (389 chars)

    Nice two- story duplex with lots of space throughout. Each unit has 3 Bedrooms, 1 Bath. Kitchen with washer/dryer hookups. Original wood trim throughout. Newer carpet in upper 207. Newer flooring in 205. Both Units are currently rented for $800/month. Separate gas, electric, water meters. Tenant's pay own utilities. Backyard is fenced in. 24 hour notice required. Serious inquiries ONLY.

20. 2023-11-07
    historical Active Under Contract 389-char remark

    Show marketing remark (389 chars)

    Nice two- story duplex with lots of space throughout. Each unit has 3 Bedrooms, 1 Bath. Kitchen with washer/dryer hookups. Original wood trim throughout. Newer carpet in upper 207. Newer flooring in 205. Both Units are currently rented for $800/month. Separate gas, electric, water meters. Tenant's pay own utilities. Backyard is fenced in. 24 hour notice required. Serious inquiries ONLY.

21. 2023-11-04
    price $100,000 389-char remark

    Show marketing remark (389 chars)

    Nice two- story duplex with lots of space throughout. Each unit has 3 Bedrooms, 1 Bath. Kitchen with washer/dryer hookups. Original wood trim throughout. Newer carpet in upper 207. Newer flooring in 205. Both Units are currently rented for $800/month. Separate gas, electric, water meters. Tenant's pay own utilities. Backyard is fenced in. 24 hour notice required. Serious inquiries ONLY.

22. 2023-10-27
    price $101,000 389-char remark

    Show marketing remark (389 chars)

    Nice two- story duplex with lots of space throughout. Each unit has 3 Bedrooms, 1 Bath. Kitchen with washer/dryer hookups. Original wood trim throughout. Newer carpet in upper 207. Newer flooring in 205. Both Units are currently rented for $800/month. Separate gas, electric, water meters. Tenant's pay own utilities. Backyard is fenced in. 24 hour notice required. Serious inquiries ONLY.

23. 2023-10-21
    price $102,000 389-char remark

    Show marketing remark (389 chars)

    Nice two- story duplex with lots of space throughout. Each unit has 3 Bedrooms, 1 Bath. Kitchen with washer/dryer hookups. Original wood trim throughout. Newer carpet in upper 207. Newer flooring in 205. Both Units are currently rented for $800/month. Separate gas, electric, water meters. Tenant's pay own utilities. Backyard is fenced in. 24 hour notice required. Serious inquiries ONLY.

24. 2023-10-16
    status Active 389-char remark

    Show marketing remark (389 chars)

    Nice two- story duplex with lots of space throughout. Each unit has 3 Bedrooms, 1 Bath. Kitchen with washer/dryer hookups. Original wood trim throughout. Newer carpet in upper 207. Newer flooring in 205. Both Units are currently rented for $800/month. Separate gas, electric, water meters. Tenant's pay own utilities. Backyard is fenced in. 24 hour notice required. Serious inquiries ONLY.

25. 2023-10-06
    historical Active Under Contract 389-char remark

    Show marketing remark (389 chars)

    Nice two- story duplex with lots of space throughout. Each unit has 3 Bedrooms, 1 Bath. Kitchen with washer/dryer hookups. Original wood trim throughout. Newer carpet in upper 207. Newer flooring in 205. Both Units are currently rented for $800/month. Separate gas, electric, water meters. Tenant's pay own utilities. Backyard is fenced in. 24 hour notice required. Serious inquiries ONLY.

26. 2023-09-30
    price $103,000 389-char remark

    Show marketing remark (389 chars)

    Nice two- story duplex with lots of space throughout. Each unit has 3 Bedrooms, 1 Bath. Kitchen with washer/dryer hookups. Original wood trim throughout. Newer carpet in upper 207. Newer flooring in 205. Both Units are currently rented for $800/month. Separate gas, electric, water meters. Tenant's pay own utilities. Backyard is fenced in. 24 hour notice required. Serious inquiries ONLY.

27. 2023-09-22
    price $104,000 389-char remark

    Show marketing remark (389 chars)

    Nice two- story duplex with lots of space throughout. Each unit has 3 Bedrooms, 1 Bath. Kitchen with washer/dryer hookups. Original wood trim throughout. Newer carpet in upper 207. Newer flooring in 205. Both Units are currently rented for $800/month. Separate gas, electric, water meters. Tenant's pay own utilities. Backyard is fenced in. 24 hour notice required. Serious inquiries ONLY.

28. 2023-09-13
    listed $105,000 Active 389-char remark

    Show marketing remark (389 chars)

    Nice two- story duplex with lots of space throughout. Each unit has 3 Bedrooms, 1 Bath. Kitchen with washer/dryer hookups. Original wood trim throughout. Newer carpet in upper 207. Newer flooring in 205. Both Units are currently rented for $800/month. Separate gas, electric, water meters. Tenant's pay own utilities. Backyard is fenced in. 24 hour notice required. Serious inquiries ONLY.

ⓘ 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: $1,882 · $157/mo
• Projected year-2 tax: $1,882 · $157/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 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 5/10 Major 7 d/yr ≥106°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: $25,416
• − Mortgage interest: −$8,397
• − Property taxes: −$1,882
• − Insurance: −$750
• − Repairs & maintenance: −$2,033
• − Management: −$2,033
• − Depreciation: −$4,361
• Taxable income: $5,961
• Est. tax owed @ 24.0%: −$1,431
• After-tax cash flow: $6,584/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): 18,309
• Household income: $47,292
• Rent vs Own: 46.6% rent · 53.4% own
• Severe rent burden: 722.0

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 (83%)
• Race & ethnicity: White 83% Two or more races 7% Black 6% Hispanic / Latino 4%
• Common ancestry: Scotch-Irish 2% Lithuanian 1% Slovak 1%
• Foreign-born: 2% · Canada, China
• Languages at home: 97% English-only · Spanish 3%

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: ▼ -91.84%
• Current HPI: 217.586
• Rent YoY: —
• 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

+42.8% since first listed

13 events — show timeline

• 2026-05-12 Price Changed $149,900 IRMLS
• 2026-04-01 Price Changed $154,900 IRMLS
• 2026-03-11 Listed $159,900 IRMLS
• 2023-11-29 Sold (MLS) $95,000 IRMLS
• 2023-11-07 Contingent — IRMLS
• 2023-11-04 Price Changed $100,000 IRMLS
• 2023-10-27 Price Changed $101,000 IRMLS
• 2023-10-21 Price Changed $102,000 IRMLS
• 2023-10-16 Relisted — IRMLS
• 2023-10-06 Contingent — IRMLS
• 2023-09-30 Price Changed $103,000 IRMLS
• 2023-09-22 Price Changed $104,000 IRMLS
• 2023-09-13 Listed $105,000 IRMLS

Property tax history

+6.9%/yr

Latest (2024): $1,882 · +26.5% YoY. Source: county tax records.