1008 N 9th St · Vincennes, IN 47591

$96,000

3 bd · 1.0 ba · 1,168 sqft · SingleFamily public records · 51 Days on market

Built 1890 $82/sqft · 7% below area Est $103k · 7% under

---

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 +24.9/30.0
• ARV discount +10.8/15.0
• DSCR +8.1/10.0
• 1% rule +5.2/10.0
• Livability +3.5/5.0
• Schools +3.0/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Comfort, Convenience, and Move-In Ready Living You’ve been searching for a home that’s affordable, updated, and ready for you to move right in and this one delivers. Located at 1008 N 9th St in Vincennes, this 2-bedroom, 1-bath home offers a functional layout with a dedicated dining room for everyday meals or gatherings. The new carpet adds a fresh feel, making it easy to settle in from day one. Start your mornings on the covered front porch and unwind in the evenings on the back deck, overlooking your fenced-in yard perfect for pets, play, or relaxing outdoors. Need extra storage? You’ll appreciate the two sheds, giving you space for tools, lawn equipment, or hobbies. Wi

Key facts

• Covered front porch
• Back deck
• Fenced-in yard

Tags

• DEDICATED DINING ROOM
• COVERED FRONT PORCH
• BACK DECK
• FENCED-IN YARD
• TWO SHEDS

Property features AI

Exterior

• Utilities: Public sewer
• Home design: Single-family residence; One story
• Construction: Vinyl siding; Shingle roof
• Exterior features: Covered deck; Outbuilding / shed

Interior

• Kitchen: Electric range; Electric oven; Refrigerator; Freezer; Dishwasher
• Flooring: Carpet
• Bathrooms: 1 full bathroom
• Heating & cooling: Natural gas heating; Central air conditioning; Ceiling fans
• Interior features: Partial basement; Carpet flooring
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $96k.

Deal economics

• At list price, monthly cash flow is $207 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($975 rent vs $96k).
• Recommended offer: $93k (3.0% below list) — sets the bar for market timing.
• Cap rate 8.9% vs local median 5.1% in Vincennes — 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 70/100 on livability (#148 in IN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: schools D, amenities F, commute F.
• Vincennes Community School Corporation (town): math 34% / reading 38% proficiency, ranked #193 of 301 in IN (top 64%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 136 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 36 units permitted in Knox County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $664 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Knox County population projected at -13% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 51 days — a 3% lower offer ($93k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 10y 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 $28k; list at $96k implies a 243% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1890 — 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 $93,120 (3.0% below list)

Questions for the listing agent

1. It's been on market 51 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1890 — 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. 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.
6. 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.
7. 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: 1.02% ✓
• Cap rate: 8.88%
• Cash-on-cash: 9.23%
• DSCR: 1.41
• GRM: 8.2

CMA / ARV

• ARV (median comp): $103,500
• List price: $96,000
• Delta: -7.25%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
914 N 9th St	0.06mi	2/1.5 (-1)	1,186 (+2%)	4mo	$73,501	$62	85
911 N 9th St	0.07mi	3/1.0	1,296 (+11%)	1mo	$27,500	$21	78
1001 E Locust St	0.23mi	2/1.0 (-1)	1,092 (-6%)	0mo	$65,000	$60	73
1704 Indiana Ave	0.46mi	2/1.0 (-1)	1,128 (-3%)	4mo	$130,000	$115	64
1306 Ridgeway Ave	0.73mi	3/1.0	1,144 (-2%)	0mo	$97,000	$85	62
1151 E St. Clair St	0.39mi	2/1.0 (-1)	1,096 (-6%)	6mo	$105,900	$97	62
1303 N Upper 11th St	0.28mi	2/1.5 (-1)	1,298 (+11%)	1mo	$121,000	$93	61
862 Ridgeway Ave	0.66mi	3/2.0	1,188 (+2%)	2mo	$159,000	$134	61
1218 Mckinley Ave	0.61mi	2/1.0 (-1)	1,206 (+3%)	0mo	$185,000	$153	61
1203 Ritterskamp Ave	0.72mi	3/1.0	1,194 (+2%)	6mo	$137,500	$115	58
1172 E Locust St	0.34mi	2/1.0 (-1)	1,008 (-14%)	4mo	$130,000	$129	53
1304 Broadway St	0.58mi	2/1.0 (-1)	1,014 (-13%)	2mo	$35,000	$35	44

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: -2.4%
• Equity multiple: 0.91×
• Total profit: $-2,433
• Equity at exit: $14,314

10-year hold

• IRR: 7.2%
• Equity multiple: 1.55×
• Total profit: $14,650
• Equity at exit: $8,300

Cash invested: $26,880 (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 47591

• Home prices YoY: -19.5%
• Active inventory: 136
• Price-to-rent: 8.2×

Monthly cashflow live

• Estimated rent: $975 medium
• Mortgage (P&I): −$503
• Tax from tax record: −$20 /mo · $240/yr
• Insurance: −$40
• HOA: −$0
• Vacancy / Maint / Mgmt: −$205
• Net cashflow: $207

Break-even live

Break-even rent $713

Max offer price $96,000

Occupancy floor 74%

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: $24,000
• Closing costs: $2,880
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
721 N 7th St Unit A Vincennes, IN	2.0	1.0	1000	$975	$0.97	43d	1	0.21mi

Listing history 19 events

1. 2026-06-18
   days on market $96,000 Active 51 DOM
2. 2026-06-17
   days on market $96,000 Active 50 DOM
3. 2026-06-16
   days on market $96,000 Active 49 DOM
4. 2026-06-15
   days on market $96,000 Active 48 DOM
5. 2026-06-13
   days on market $96,000 Active 46 DOM
6. 2026-06-12
   days on market $96,000 Active 45 DOM
7. 2026-06-09
   days on market $96,000 Active 42 DOM
8. 2026-06-08
   days on market $96,000 Active 41 DOM
9. 2026-06-07
   days on market $96,000 Active 40 DOM
10. 2026-06-07
    days on market $96,000 Active 39 DOM
11. 2026-06-04
    days on market $96,000 Active 36 DOM
12. 2026-06-02
    days on market $96,000 Active 35 DOM
13. 2026-06-01
    days on market $96,000 Active 34 DOM
14. 2026-05-31
    days on market $96,000 Active 33 DOM
15. 2026-05-31
    days on market $96,000 Active 32 DOM
16. 2026-04-28
    listed $96,000 Active 844-char remark
17. 2023-12-08
    listed $35,000 Active
18. 2017-11-27
    soldstatus $28,000
19. 2016-03-29
    listed $26,900

ⓘ 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: $240 · $20/mo
• Projected year-2 tax: $528 · $44/mo
• Expected delta: +$288/yr (+$24/mo · 119.7%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 4/10 Moderate 20% 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 2% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $11,700
• − Mortgage interest: −$5,377
• − Property taxes: −$240
• − Insurance: −$480
• − Repairs & maintenance: −$936
• − Management: −$936
• − Depreciation: −$2,793
• Taxable income: $937
• Est. tax owed @ 24.0%: −$225
• After-tax cash flow: $2,256/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: Vincennes Community School Corporation
• NCES district ID: 1812120
• Math proficiency: 34% ▼ -5.00%
• Reading proficiency: 38% ▼ -4.00%
• Median HH income: $38,359
• Composite: 30.05/100
• National rank: #6354
• State rank: #193 of 301 in IN

Livability — Vincennes

• Score: 70/100
• State rank: #148
• US rank: #7480

Category grades

Amenities F Commute F Cost of living A+ Crime B Employment D- Housing A+ Health & safety A+ User ratings F

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Vincennes, IN
• Population (ZIP): 25,191

Population outlook (Knox County) Hauer SSP2

• Today (2025): 37,092 people
• By 2030: 36,271 · -2.2%
• By 2040: 34,196 · -7.8%
• By 2050: 32,405 · -12.6%
• By 2075: 28,754 · -22.5%
• By 2100: 24,110 · -35.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (88%)
• Race & ethnicity: White 88% Two or more races 6% Hispanic / Latino 3% Black 2% Asian 1%
• Common ancestry: Lithuanian 4% Romanian 2% Slovak 2%
• Foreign-born: 3% · Canada, China
• Languages at home: 95% English-only · Spanish 2% French/Haitian/Cajun 1% Chinese 1%

Political lean MEDSL · Knox

• 2024 margin: Solid R (+50.4) · D 24.0% · R 74.4% · Other 1.6%
• 2008→2024 swing: -43.9pp toward R · 2008: -6.5pp · 2024: -50.4pp
• All cycles: 2024: R+50.4 2020: R+47.4 2016: R+47.2 2012: R+28.9 2008: R+6.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -47.26%
• Current HPI: 194.903
• 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

+256.9% since first listed

4 events — show timeline

• 2026-04-28 Listed $96,000 THAAR
• 2023-12-08 Listed $35,000 IRMLS
• 2017-11-27 Sold (Public Records) $28,000 Public Records
• 2016-03-29 Listed $26,900 IRMLS

Property tax history

-13.9%/yr

Latest (2024): $240 · +33.6% YoY. Source: county tax records.