716 Waggoner Ave · Evansville, IN 47713

$94,900

2 bd · 1.0 ba · 1,152 sqft · SingleFamily public records · 64 Days on market

Built 1925 6,912 sqft lot Est $126k · 24% under

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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 +24.0/30.0
• ARV discount +15.0/15.0
• DSCR +7.7/10.0
• 1% rule +6.1/10.0
• Rent growth +5.0/5.0
• Schools +3.3/10.0
• Livability +3.2/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

This great two bedroom, one bath home offers plenty of space and comfort. Enjoy a large living room and a dedicated dining area, perfect for entertaining. The laundry is conveniently located on the main level, and the home features an unfinished basement for extra storage or potential expansion. Relax on the inviting front porch-ideal for enjoying summer and fall evenings. Off-street parking is available with a private driveway. Don't miss this well-maintained home full of character and convenience. Hardwood floors under the carpet.

Key facts

• Inviting front porch
• Private driveway
• Unfinished basement

Tags

• LARGE LIVING ROOM
• DEDICATED DINING AREA
• UNFINISHED BASEMENT
• INVITING FRONT PORCH
• PRIVATE DRIVEWAY
• HARDWOOD FLOORS

Property features AI

Finance

• Other: 48 x 144 lot dimensions; About 1,152 above-grade finished area

Exterior

• Parking: Gravel driveway
• Utilities: Public water; Public sewer
• Home design: Single-family residence (site-built); One story
• Construction: Vinyl siding
• Exterior features: Level lot; No fencing

Interior

• Kitchen: No kitchen appliance details provided
• Bedrooms: Total of 5 rooms (bedrooms and other rooms included)
• Flooring: Hardwood; Carpet; Vinyl
• Bathrooms: 1 full bathroom
• Heating & cooling: Central air; Ceiling fan(s); Natural gas forced-air heating
• Interior features: Natural woodwork; Partial basement
• Laundry & utility: Laundry on the main level

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $95k.

Deal economics

• At list price, monthly cash flow is $186 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $95k).
• Recommended offer: $89k (6.0% below list) — sets the bar for market timing.
• Cap rate 8.6% 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: Lincoln School (math 12% / reading 17%, grade F, #862 of 994 statewide, top 88%, 236 students, 88% 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).
• Market conditions: Rents rising fast (+9.9%/yr); 118 active listings in the ZIP; 27 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); lower-income renter base — watch delinquency; 508 units permitted in Vanderburgh County in 2024 (32 in 5+ unit buildings).
• This rent runs 31% of the median local income ($41k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $656 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 8.0% rent growth), your $27k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 64 days — a 6% lower offer ($89k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 3y ago; this cycle's ask has dropped $5k (5%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1925 — 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 $89,206 (6.0% below list)

Questions for the listing agent

1. It's been on market 64 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1925 — 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: 1.11% ✓
• Cap rate: 8.65%
• Cash-on-cash: 8.41%
• DSCR: 1.37
• GRM: 7.5

CMA / ARV

• ARV (on-the-fly): $125,568
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1059 Waggoner Ave	0.39mi	2/2.0	1,150 (-0%)	1mo	$125,000	$109	76
711 Waggoner Ave	0.03mi	2/1.0	991 (-14%)	1mo	$45,000	$45	74
1107 S Evans Ave	0.47mi	2/1.0	1,096 (-5%)	0mo	$100,000	$91	70
613 Madison Ave	0.40mi	3/1.0 (+1)	1,176 (+2%)	4mo	$165,000	$140	69
1320 S Governor St	0.41mi	2/1.0	1,048 (-9%)	3mo	$32,500	$31	64
1101 Ravenswood Dr	0.43mi	2/1.0	1,269 (+10%)	1mo	$155,000	$122	62
1921 Shadewood Ave	0.35mi	3/1.0 (+1)	1,037 (-10%)	3mo	$135,000	$130	59
329 Taylor Ave	0.40mi	2/1.0	1,021 (-11%)	6mo	$46,000	$45	58
807 Prosperity Ave	0.64mi	2/1.5	1,232 (+7%)	0mo	$70,000	$57	56
1903 S Kerth Ave	0.50mi	3/2.0 (+1)	1,214 (+5%)	5mo	$150,000	$124	55
110 Jefferson Ave	0.70mi	3/1.0 (+1)	1,064 (-8%)	3mo	$166,000	$156	47
717 E Blackford Ave	0.61mi	3/1.0 (+1)	1,303 (+13%)	5mo	$29,250	$22	40

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 · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 1.9%
• Equity multiple: 1.08×
• Total profit: $2,039
• Equity at exit: $14,150

10-year hold

• IRR: 15.9%
• Equity multiple: 2.59×
• Total profit: $42,326
• Equity at exit: $8,205

Cash invested: $26,572 (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 47713

• Home prices YoY: -34.1%
• Rents YoY: 9.9%
• Active inventory: 118
• Price-to-rent: 7.5×

Monthly cashflow live

• Estimated rent: $1,049 high
• Mortgage (P&I): −$498
• Tax from tax record: −$106 /mo · $1,267/yr
• Insurance: −$40
• HOA: −$0
• Vacancy / Maint / Mgmt: −$220
• Net cashflow: $186

Break-even live

Break-even rent $814

Max offer price $94,900

Occupancy floor 77%

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: $23,725
• Closing costs: $2,847
• Reserves months: —
• Total cash needed: —

Rent comps 27 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
715 E Riverside Dr Evansville, IN	2.0	1.0	806	$895	$1.11	21d	1	0.11mi
605 Madison Ave Evansville, IN	2.0	1.0	1069	$1,375	$1.29	21d	1	0.42mi
1021 Jefferson Ave Evansville, IN	1.0	1.0	798	$795	$1.00	13d	1	0.54mi
1421 SE 2nd St Unit A Evansville, IN	1.0	1.0	800	$695	$0.87	13d	1	0.57mi
1500 S Harlan Ave Evansville, IN	2.0	1.0	712	$900	$1.26	13d	1	0.63mi
734 Bayard Park Dr Evansville, IN	3.0	2.0	1000	$1,425	$1.43	21d	1	0.81mi
827 Judson St Evansville, IN	3.0	1.0	1008	$1,295	$1.28	13d	1	0.83mi
924 SE 6th St Unit A Evansville, IN	1.0	1.0	800	$875	$1.09	21d	1	0.84mi
17 Washington Ave Evansville, IN	2.0	1.0	882	$1,455	$1.65	21d	1	0.86mi
1505 Jackson Ave Evansville, IN	2.0	1.0	780	$995	$1.28	21d	1	0.92mi
1133 Bayard Park Dr Unit B Evansville, IN	2.0	1.0	990	$800	$0.81	21d	1	0.92mi
8 E Blackford Ave Evansville, IN	1.0	1.0	750	$825	$1.10	21d	1	0.92mi
615 SE 3rd St Unit D Evansville, IN	1.0	1.0	1122	$895	$0.80	21d	1	1.09mi
507 S Evans Ave Evansville, IN	2.0	1.0	750	$795	$1.06	21d	1	1.14mi
2340 Sunburst Blvd Unit 2270-318 Evansville, IN	2.0	1.0	815	$900	$1.10	21d	1	1.22mi
2340 Sunburst Blvd Unit 2200-202 Evansville, IN	3.0	1.0	973	$1,050	$1.08	21d	1	1.22mi
1909 Taylor Ave Evansville, IN	2.0	1.0	700	$1,200	$1.71	13d	1	1.23mi
1909 Plantation Ct Evansville, IN	2.0	1.0	780	$700	$0.90	21d	2	1.27mi
322 SE 1st St Evansville, IN	1.0–2.0	1.0	1100	$1,700	$1.55	21d	6	1.30mi
1952 Colts Ln Evansville, IN	1.0–3.0	1.0	1146	$1,035	$0.90	21d	8	1.31mi
315 SE 1st St Evansville, IN	1.0	1.0	1331	$1,695	$1.27	21d	1	1.32mi
304 S Grand Ave Evansville, IN	2.0	1.0	967	$955	$0.99	21d	1	1.35mi
202 SE 1st St Evansville, IN	1.0–2.0	1.0	926	$2,449	$2.64	21d	4	1.40mi
1762 Spring Ct Evansville, IN	2.0	1.0	975	$1,450	$1.49	21d	1	1.43mi
100 SE 1st St Evansville, IN	1.0–2.0	1.0–2.0	715	$1,725	$2.41	13d	17	1.48mi
1604 Marbo Ave Evansville, IN	2.0	1.0	900	$1,095	$1.22	21d	1	1.48mi
329 Main St Evansville, IN	1.0–2.0	1.0–2.0	717	$1,505	$2.10	13d	1	1.49mi

Listing history 22 events

1. 2026-06-18
   days on market $94,900 Active 64 DOM
2. 2026-06-17
   days on market $94,900 Active 63 DOM
3. 2026-06-16
   days on market $94,900 Active 62 DOM
4. 2026-06-15
   days on market $94,900 Active 61 DOM
5. 2026-06-14
   days on market $94,900 Active 59 DOM
6. 2026-06-13
   days on market $94,900 Active 58 DOM
7. 2026-06-10
   days on market $94,900 Active 56 DOM
8. 2026-06-09
   days on market $94,900 Active 55 DOM
9. 2026-06-08
   days on market $94,900 Active 54 DOM
10. 2026-06-07
    days on market $94,900 Active 53 DOM
11. 2026-06-02
    days on market $94,900 Active 48 DOM
12. 2026-06-01
    days on market $94,900 Active 47 DOM
13. 2026-05-31
    days on market $94,900 Active 46 DOM
14. 2026-05-30
    days on market $94,900 Active 45 DOM
15. 2026-05-06
    price $94,900
16. 2026-04-15
    listed $99,900 Active
17. 2026-02-02
    status Active
18. 2025-12-18
    price $114,900
19. 2025-10-22
    price $119,900
20. 2025-09-26
    status Active
21. 2025-03-31
    listed $119,000 Active
22. 2023-07-19
    listed $75,000 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: $1,267 · $106/mo
• Projected year-2 tax: $1,267 · $106/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 4/10 Moderate FEMA zone X · 22% 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 3% 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: $12,593
• − Mortgage interest: −$5,316
• − Property taxes: −$1,267
• − Insurance: −$474
• − Repairs & maintenance: −$1,007
• − Management: −$1,007
• − Depreciation: −$2,761
• Taxable income: $760
• Est. tax owed @ 24.0%: −$182
• After-tax cash flow: $2,053/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): 9,988
• Household income: $40,873
• Rent vs Own: 61.6% rent · 38.4% own
• Severe rent burden: 735.0

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: Diverse neighborhood (Simpson 0.60)
• Race & ethnicity: White 50% Black 39% Two or more races 7% Hispanic / Latino 3% Pacific Islander 1% Asian 1%
• Common ancestry: Romanian 2% Lithuanian 1% Italian 1%
• Foreign-born: 5% · Canada
• Languages at home: 96% English-only · Spanish 2% Tagalog/Filipino 1% French/Haitian/Cajun 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: ▼ -119.22%
• Current HPI: 229.9312
• Rent YoY: ▲ 9.87%
• 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

+26.5% since first listed

8 events — show timeline

• 2026-05-06 Price Changed $94,900 IRMLS
• 2026-04-15 Listed $99,900 IRMLS
• 2026-02-02 Relisted — IRMLS
• 2025-12-18 Price Changed $114,900 IRMLS
• 2025-10-22 Price Changed $119,900 IRMLS
• 2025-09-26 Relisted — IRMLS
• 2025-03-31 Listed $119,000 IRMLS
• 2023-07-19 Listed $75,000 IRMLS

Property tax history

+2.5%/yr

Latest (2024): $1,267 · +2.2% YoY. Source: county tax records.