3306 Forest Ave · Evansville, IN 47712

$89,900

1 bd · 1.0 ba · 976 sqft · SingleFamily public records · 105 Days on market

Built 1900 4,356 sqft lot Est $146k · 39% under

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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 +22.3/30.0
• ARV discount +15.0/15.0
• DSCR +7.1/10.0
• 1% rule +5.6/10.0
• 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

Great westside location! Big fenced back yard. This can be your late summer/early fall flip project or one to call your own for years to come. Bring your BIG ideas. Utilities are off. Being sold as-is. Utilities are off. Being sold as-is.

Key facts

• Major updates
• 4,356 sq ft lot
• Built 1900

Tags

• IMMEDIATE RENTAL INCOME
• MAJOR UPDATES
• REDUCED MAINTENANCE COSTS
• LOW-MAINTENANCE INVESTMENT

Property features AI

Finance

• Other: Lot dimensions approximately 32 x 130

Exterior

• Parking: Off-street parking (no garage)
• Security: No security features listed
• Utilities: Public water; Public sewer
• Home design: Single-family residential, site-built home; One-story
• Construction: Aluminum siding; Shingle roof; Built above grade (finished area reported separately)
• Exterior features: Privacy wood fencing; Shed(s) on the property; Level lot

Interior

• Kitchen: No kitchen appliance details provided
• Bedrooms: Total of 4 rooms (bedroom count not explicitly listed)
• Flooring: Vinyl
• Bathrooms: One full bathroom (main level)
• Heating & cooling: Central air conditioning; Forced air heating
• Interior features: Vinyl flooring; Crawl space basement; One fireplace (no special features listed)
• Laundry & utility: Main-level laundry with electric dryer hookup

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath single-family listed at $90k.

Deal economics

• At list price, monthly cash flow is $148 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($954 rent vs $90k).
• Recommended offer: $82k (9.0% below list) — sets the bar for market timing.
• Cap rate 8.3% 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: Tekoppel Elementary School (math 42% / reading 33%, grade F, #543 of 994 statewide, top 55%, 445 students, 73% FRL); Helfrich Park Stem Academy (math 36% / reading 47%, grade F, #108 of 330 statewide, top 34%, 517 students, 52% FRL); Francis Joseph Reitz High School (math 45% / reading 68%, grade C, #70 of 369 statewide, top 19%, 1,280 students, 44% FRL).
• Market conditions: 134 active listings in the ZIP; 10 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).
• This rent is only 17% of the median local income ($68k/yr) — well below the 30% rent-burden line; pricing power to push rent on renewal without tenant pushback.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $622 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 105 days — a 9% lower offer ($82k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 12y 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 $90k implies a 227% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1900 — 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 $81,809 (9.0% below list)

Questions for the listing agent

1. It's been on market 105 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 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
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: 1.06% ✓
• Cap rate: 8.26%
• Cash-on-cash: 7.04%
• DSCR: 1.31
• GRM: 7.9

CMA / ARV

• ARV (on-the-fly): $146,400
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3306 Forest Ave	0.00mi	2/1.0 (+1)	976 (0%)	0mo	$85,000	$87	95
3213 Forest Ave	0.07mi	2/1.0 (+1)	1,000 (+2%)	2mo	$184,000	$184	86
111 Wills Ave	0.19mi	2/1.0 (+1)	945 (-3%)	4mo	$139,900	$148	78
3301 Austin Ave	0.30mi	2/1.0 (+1)	985 (+1%)	6mo	$171,500	$174	75
114 Rupper Ave	0.18mi	2/1.0 (+1)	1,044 (+7%)	2mo	$176,000	$169	74
3103 W Virginia St	0.43mi	2/1.0 (+1)	977 (+0%)	2mo	$185,000	$189	73
3007 Forest Ave	0.26mi	2/1.0 (+1)	908 (-7%)	1mo	$152,900	$168	70
3011 Forest Ave	0.25mi	2/1.0 (+1)	900 (-8%)	4mo	$135,000	$150	67
3209 Mount Vernon Ave	0.51mi	2/1.0 (+1)	1,002 (+3%)	1mo	$128,750	$128	66
3400 Mount Vernon Ave	0.44mi	2/1.0 (+1)	851 (-13%)	5mo	$125,000	$147	49
2617 Edgewood Dr	0.65mi	2/1.0 (+1)	912 (-7%)	6mo	$125,000	$137	49
2740 W Franklin St	0.58mi	2/2.0 (+1)	1,071 (+10%)	1mo	$151,320	$141	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: -5.5%
• Equity multiple: 0.79×
• Total profit: $-5,162
• Equity at exit: $13,404

10-year hold

• IRR: 4.2%
• Equity multiple: 1.30×
• Total profit: $7,631
• Equity at exit: $7,773

Cash invested: $25,172 (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 47712

• Home prices YoY: -32.1%
• Active inventory: 134
• Price-to-rent: 7.9×

Monthly cashflow live

• Estimated rent: $954 high
• Mortgage (P&I): −$471
• Tax from tax record: −$97 /mo · $1,165/yr
• Insurance: −$37
• HOA: −$0
• Vacancy / Maint / Mgmt: −$200
• Net cashflow: $148

Break-even live

Break-even rent $767

Max offer price $89,900

Occupancy floor 80%

Sensitivity live

Price	-10% $198	-5% $173	+0% $148	+5% $122	+10% $97
Rent	-10% $72	-5% $110	+0% $148	+5% $185	+10% $223
Rate	-1.0pp $193	-0.5pp $170	base $148	+0.5pp $124	+1.0pp $101

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: $22,475
• Closing costs: $2,697
• Reserves months: —
• Total cash needed: —

Rent comps 10 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3308 Forest Ave Evansville, IN	1.0	1.0	900	$750	$0.83	14d	1	0.03mi
3200 Edgewood Dr Evansville, IN	2.0	1.0	720	$1,295	$1.80	14d	1	0.17mi
406 Wills Ave Evansville, IN	2.0	1.0	832	$1,295	$1.56	14d	1	0.34mi
2727 Austin Ave Evansville, IN	2.0	1.0	952	$1,495	$1.57	22d	1	0.55mi
2708 W Franklin St Unit 4 Evansville, IN	2.0	1.0	1100	$900	$0.82	22d	1	0.63mi
409 S Bosse Ave Evansville, IN	2.0	1.0	1050	$985	$0.94	22d	1	0.65mi
360 S Rosenberger Ave Evansville, IN	1.0–2.0	1.0	710	$795	$1.12	14d	9	0.67mi
2517 W Illinois St Evansville, IN	2.0	1.0	938	$960	$1.02	22d	1	0.74mi
1521 Irvington Ave Evansville, IN	1.0	1.0	990	$600	$0.61	22d	1	1.20mi
325 Norma Dr Evansville, IN	1.0–2.0	1.0	782	$799	$1.02	22d	1	1.24mi

Listing history 9 events

1. 2026-05-10
   status Pending
2. 2026-04-26
   price $89,900
3. 2026-01-31
   status Active
4. 2026-01-16
   status Pending
5. 2026-01-11
   listed $89,999 Active
6. 2021-10-12
   soldstatus $27,500 239-char remark

   Show marketing remark (239 chars)

   Great westside location! Big fenced back yard. This can be your late summer/early fall flip project or one to call your own for years to come. Bring your BIG ideas. Utilities are off. Being sold as-is. Utilities are off. Being sold as-is.

7. 2021-07-22
   listed $49,900 239-char remark

   Show marketing remark (239 chars)

   Great westside location! Big fenced back yard. This can be your late summer/early fall flip project or one to call your own for years to come. Bring your BIG ideas. Utilities are off. Being sold as-is. Utilities are off. Being sold as-is.

8. 2015-01-16
   soldstatus $29,000 161-char remark

   Show marketing remark (161 chars)

   Move right in to this 2 bedroom 1 bath home on the Westside of Evansville. New carpet and freshly painted. Nice fenced in yard with large storage shed. New roof.

9. 2014-10-07
   listed $32,000 161-char remark

   Show marketing remark (161 chars)

   Move right in to this 2 bedroom 1 bath home on the Westside of Evansville. New carpet and freshly painted. Nice fenced in yard with large storage shed. New roof.

ⓘ 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: $1,165 · $97/mo
• Projected year-2 tax: $1,165 · $97/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 ≥107°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: $11,447
• − Mortgage interest: −$5,036
• − Property taxes: −$1,165
• − Insurance: −$450
• − Repairs & maintenance: −$916
• − Management: −$916
• − Depreciation: −$2,615
• Taxable income: $350
• Est. tax owed @ 24.0%: −$84
• After-tax cash flow: $1,687/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): 25,444
• Household income: $68,494
• Rent vs Own: 34.6% rent · 65.4% own
• Severe rent burden: 797.0

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 (91%)
• Race & ethnicity: White 91% Two or more races 4% Hispanic / Latino 2% Black 2% Asian 2%
• Common ancestry: Romanian 3% Lithuanian 2% Italian 1%
• Foreign-born: 2% · China, Canada
• Languages at home: 97% English-only · Spanish 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: ▼ -101.86%
• Current HPI: 215.5153
• 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

+180.9% since first listed

9 events — show timeline

• 2026-05-10 Pending — IRMLS
• 2026-04-26 Price Changed $89,900 IRMLS
• 2026-01-31 Relisted — IRMLS
• 2026-01-16 Pending — IRMLS
• 2026-01-11 Listed $89,999 IRMLS
• 2021-10-12 Sold (MLS) $27,500 IRMLS
• 2021-07-22 Listed $49,900 IRMLS
• 2015-01-16 Sold (MLS) $29,000 IRMLS
• 2014-10-07 Listed $32,000 IRMLS

Property tax history

-1.2%/yr

Latest (2024): $1,165 · +2.7% YoY. Source: county tax records.