1210 N 2nd Ave · Evansville, IN 47710

$40,000

3 bd · 1.0 ba · 1,664 sqft · SingleFamily public records · 27 Days on market

Built 1904 3,485 sqft lot Est $37k · 9% over

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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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +3.3/15.0
• 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

Listing remarks

Spacious 2 bedroom home in a convenient location! Oversized 1 car detached garage with alley access. Inside, you'll find a spacious living room, formal dining room, and separate laundry room. Extra huge room upstairs could be easily finished and converted into additional living space. So much potential!

Key facts

• Alley access
• Extra huge room
• Laundry room

Tags

• DETACHED GARAGE
• ALLEY ACCESS
• LIVING ROOM
• DINING ROOM
• LAUNDRY ROOM
• EXTRA HUGE ROOM

Property features AI

Exterior

• Parking: Detached 1-car garage
• Utilities: Public water; Public sewer
• Home design: Single-family site-built home; One story
• Construction: Vinyl siding; Built with standard foundation
• Exterior features: Deck and patio; Level lot; Shed(s)

Interior

• Bedrooms: Bedrooms located on main level
• Bathrooms: One full bathroom on main level
• Heating & cooling: Natural gas forced-air heating; No central cooling
• Interior features: Finished above grade living area; Basement
• Laundry & utility: Main-level laundry

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $40k.

Deal economics

• At list price, monthly cash flow is $653 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $40k).
• Recommended offer: $39k (1.5% below list) — sets the bar for market timing.
• Cap rate 25.9% 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: Cedar Hall Community School (math 13% / reading 19%, grade F, #854 of 994 statewide, top 86%, 509 students, 93% FRL); Thompkins Middle School (math 39% / reading 46%, grade D-, #98 of 330 statewide, top 30%, 618 students, 53% FRL); Central High School (math 38% / reading 74%, grade C, #73 of 369 statewide, top 20%, 1,090 students, 52% FRL) — zoned schools average 66% FRL vs 50% district-wide (16 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 88 active listings in the ZIP; 11 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 $277 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $11k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 27 days — a 2% lower offer ($39k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1904 — 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 $39,400 (1.5% below list)

Questions for the listing agent

1. Built in 1904 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. 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: 2.81% ✓
• Cap rate: 25.88%
• Cash-on-cash: 69.97%
• DSCR: 4.11
• GRM: 3.0

CMA / ARV

• ARV (on-the-fly): $36,608
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1203 Edgar St	0.23mi	3/1.0	1,512 (-9%)	0mo	$86,000	$57	74
1321 Oakley St	0.16mi	3/1.0	1,506 (-10%)	4mo	$14,000	$9	73
922 Edgar St	0.27mi	4/1.0 (+1)	1,631 (-2%)	15mo	$147,000	$90	66
1023 W Franklin St	0.62mi	3/1.0	1,648 (-1%)	5mo	$107,000	$65	65
920 W Florida St	0.05mi	3/2.0	1,875 (+13%)	11mo	$24,002	$13	63
1110 W Delaware St	0.43mi	3/1.0	1,529 (-8%)	5mo	$20,000	$13	62
616 W Tennessee St	0.18mi	2/1.0 (-1)	1,551 (-7%)	17mo	$15,000	$10	61
615 N Third Ave	0.39mi	3/1.5	1,858 (+12%)	1mo	$40,000	$22	60
112 W Missouri St	0.55mi	3/2.0	1,704 (+2%)	12mo	$30,000	$18	56
1112 1114 Read St	0.45mi	2/2.0 (-1)	1,456 (-12%)	2mo	$17,500	$12	47
20 W Eichel Ave	0.64mi	2/2.0 (-1)	1,552 (-7%)	6mo	$134,000	$86	45
618 N Fifth Ave	0.51mi	2/1.0 (-1)	1,904 (+14%)	16mo	$60,000	$32	34

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: 69.5%
• Equity multiple: 4.13×
• Total profit: $35,102
• Equity at exit: $5,964

10-year hold

• IRR: 73.5%
• Equity multiple: 8.51×
• Total profit: $84,088
• Equity at exit: $3,458

Cash invested: $11,200 (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: 88
• Price-to-rent: 3.0×

Monthly cashflow live

• Estimated rent: $1,123 high
• Mortgage (P&I): −$210
• Tax from tax record: −$8 /mo · $95/yr
• Insurance: −$17
• HOA: −$0
• Vacancy / Maint / Mgmt: −$236
• Net cashflow: $653

Break-even live

Break-even rent $297

Max offer price $40,000

Occupancy floor 37%

Sensitivity live

Price	-10% $676	-5% $664	+0% $653	+5% $642	+10% $630
Rent	-10% $564	-5% $609	+0% $653	+5% $697	+10% $742
Rate	-1.0pp $673	-0.5pp $663	base $653	+0.5pp $643	+1.0pp $632

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: $10,000
• Closing costs: $1,200
• Reserves months: —
• Total cash needed: —

Rent comps 11 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1317 Harriet St Evansville, IN	3.0	2.0	2000	$995	$0.50	14d	1	0.36mi
1319 Uhlhorn St Evansville, IN	3.0	2.0	1424	$1,350	$0.95	14d	1	0.59mi
109 E Eichel Ave Unit B Evansville, IN	4.0	2.0	1228	$1,257	$1.02	22d	1	0.80mi
121 E Florida St Evansville, IN	4.0	2.0	1702	$100	$0.06	22d	1	0.81mi
200 N Main St Evansville, IN	2.0	1.0–2.0	857	$1,599	$1.86	14d	7	0.88mi
313 NW Martin Luther King Junior Blvd Unit 311 Evansville, IN	2.0	1.0	1200	$950	$0.79	22d	1	0.95mi
706 Court St Evansville, IN	2.0	1.5	1100	$850	$0.77	22d	1	0.95mi
41 W Division St Apt 200 Evansville, IN	2.0	2.0	1083	$1,500	$1.39	22d	1	0.96mi
2102 W Delaware St Evansville, IN	3.0	1.0	1083	$925	$0.85	14d	1	1.13mi
1008 Allens Ln Evansville, IN	2.0	1.0	1081	$750	$0.69	22d	1	1.26mi
202 SE 1st St Evansville, IN	1.0–2.0	1.0	926	$2,449	$2.64	22d	4	1.45mi

Listing history 14 events

1. 2026-06-16
   status $40,000 Pending 27 DOM
2. 2026-06-16
   days on market $40,000 Active 27 DOM
3. 2026-06-15
   days on market $40,000 Active 26 DOM
4. 2026-06-14
   days on market $40,000 Active 24 DOM
5. 2026-06-13
   days on market $40,000 Active 23 DOM
6. 2026-06-10
   days on market $40,000 Active 21 DOM
7. 2026-06-09
   days on market $40,000 Active 20 DOM
8. 2026-06-08
   days on market $40,000 Active 19 DOM
9. 2026-06-07
   days on market $40,000 Active 18 DOM
10. 2026-06-02
    days on market $40,000 Active 13 DOM
11. 2026-06-01
    days on market $40,000 Active 12 DOM
12. 2026-05-31
    days on market $40,000 Active 11 DOM
13. 2026-05-30
    days on market $40,000 Active 10 DOM
14. 2026-05-20
    listed $40,000 Active

ⓘ 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: $95 · $8/mo
• Projected year-2 tax: $217 · $18/mo
• Expected delta: +$123/yr (+$10/mo · 129.4%)

ⓘ 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 3/10 Moderate 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: $13,479
• − Mortgage interest: −$2,241
• − Property taxes: −$95
• − Insurance: −$200
• − Repairs & maintenance: −$1,078
• − Management: −$1,078
• − Depreciation: −$1,164
• Taxable income: $7,623
• Est. tax owed @ 24.0%: −$1,830
• After-tax cash flow: $6,007/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

1 event — show timeline

• 2026-05-20 Listed $40,000 IRMLS

Property tax history

+8.2%/yr

Latest (2024): $95 · +295.5% YoY. Source: county tax records.