1013 E Chandler Ave · Evansville, IN 47714

$49,999

3 bd · 1.5 ba · 1,510 sqft · SingleFamily public records · 1 Days on market

Built 1934 5,418 sqft lot

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Rent growth +4.5/5.0
• Schools +3.3/10.0
• Livability +3.2/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Investor or renovation opportunity—this home needs significant work and is being sold as-is. .. estate sale. Possible mold present in the basement. Bring your vision and restore this home to its former beauty! Charming 2-bedroom, 1.5-bath home built in 1934, full of character and original details! Features include 9-foot ceilings, oversized natural wood baseboards, and hardwood flooring beneath the carpet just waiting to be restored. Large windows throughout provide abundant natural light, enhancing the home’s classic appeal. The property includes a full basement with laundry area and a convenient laundry chute, as well as a detached 2-car garage. Enjoy relaxing on the open co

Key facts

• 5,418 sq ft lot
• 2 garage spots
• Built 1934

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $50k.

Deal economics

• At list price, monthly cash flow is $779 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $50k).
• Cap rate 25.0% 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: Evans School (math 9% / reading 7%, grade F, #945 of 994 statewide, top 95%, 499 students, 85% 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) — zoned schools at 54% FRL track the district average.
• Market conditions: Rents rising fast (+7.9%/yr); 188 active listings in the ZIP; 11 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 runs 31% of the median local income ($56k/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 $345 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 7.9% rent growth), your $14k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1934 — 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 $49,999

Questions for the listing agent

1. Built in 1934 — 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: 2.85% ✓
• Cap rate: 24.98%
• Cash-on-cash: 66.74%
• DSCR: 3.97
• GRM: 2.9

CMA / ARV

• ARV (on-the-fly): $128,350
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1045 Bayard Park Dr	0.09mi	3/1.5	1,440 (-5%)	4mo	$110,000	$76	85
1225 S Bedford Ave	0.44mi	4/1.0 (+1)	1,522 (+1%)	2mo	$130,000	$85	70
600 E Chandler Ave	0.53mi	3/2.0	1,525 (+1%)	3mo	$51,000	$33	69
1025 Jefferson Ave	0.30mi	2/1.0 (-1)	1,453 (-4%)	5mo	$113,000	$78	69
537 S Kerth Ave	0.41mi	3/1.5	1,680 (+11%)	1mo	$160,000	$95	61
710 Jefferson Ave	0.44mi	4/2.0 (+1)	1,594 (+6%)	4mo	$163,500	$103	60
1628 Washington Ave	0.68mi	3/2.0	1,453 (-4%)	1mo	$127,500	$88	60
1558 Henning Ave	0.73mi	2/1.0 (-1)	1,508 (-0%)	4mo	$65,000	$43	55
712 E Blackford Ave	0.41mi	2/1.0 (-1)	1,327 (-12%)	1mo	$22,000	$17	53
1414 Marshall Ave	0.67mi	3/1.0	1,364 (-10%)	1mo	$122,000	$89	50
951 S Rotherwood Ave	0.71mi	2/2.0 (-1)	1,418 (-6%)	2mo	$175,000	$123	48
1140 Covert Ave	0.68mi	2/1.0 (-1)	1,705 (+13%)	0mo	$130,000	$76	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 · 7.86% rent growth · sell at horizon

5-year hold

• IRR: 71.5%
• Equity multiple: 4.49×
• Total profit: $48,810
• Equity at exit: $7,455

10-year hold

• IRR: 76.9%
• Equity multiple: 10.97×
• Total profit: $139,572
• Equity at exit: $4,323

Cash invested: $14,000 (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 47714

• Rents YoY: 7.9%
• Active inventory: 188
• Price-to-rent: 2.9×

Monthly cashflow live

• Estimated rent: $1,423 high
• Mortgage (P&I): −$262
• Tax est. 1.5%: −$62 /mo · $750/yr
• Insurance: −$21
• HOA: −$0
• Vacancy / Maint / Mgmt: −$299
• Net cashflow: $779

Break-even live

Break-even rent $437

Max offer price $49,999

Occupancy floor 40%

Sensitivity live

Price	-10% $813	-5% $796	+0% $779	+5% $761	+10% $744
Rent	-10% $666	-5% $722	+0% $779	+5% $835	+10% $891
Rate	-1.0pp $804	-0.5pp $791	base $779	+0.5pp $766	+1.0pp $752

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: $12,500
• Closing costs: $1,500
• Reserves months: —
• Total cash needed: —

Rent comps 11 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1213 Washington Ave Evansville, IN	4.0	1.0	1984	$1,595	$0.80	22d	1	0.30mi
605 Madison Ave Evansville, IN	2.0	1.0	1069	$1,375	$1.29	22d	1	0.62mi
638 Jackson Ave Evansville, IN	4.0	1.0	1176	$1,495	$1.27	22d	1	0.63mi
210 S Weinbach Ave Evansville, IN	3.0	1.0	1080	$1,450	$1.34	22d	1	1.19mi
322 SE 1st St Evansville, IN	1.0–2.0	1.0	1100	$1,700	$1.55	22d	6	1.34mi
41 W Division St Apt 200 Evansville, IN	2.0	2.0	1083	$1,500	$1.39	22d	1	1.35mi
200 N Main St Evansville, IN	2.0	1.0–2.0	857	$1,599	$1.86	14d	7	1.41mi
202 SE 1st St Evansville, IN	1.0–2.0	1.0	926	$2,449	$2.64	22d	4	1.41mi
1952 Colts Ln Evansville, IN	1.0–3.0	1.0	1146	$1,275	$1.11	22d	8	1.43mi
706 Court St Evansville, IN	2.0	1.5	1100	$850	$0.77	22d	1	1.46mi
313 NW Martin Luther King Junior Blvd Unit 311 Evansville, IN	2.0	1.0	1200	$950	$0.79	22d	1	1.47mi

Listing history 2 events

1. 2026-03-27
   status Pending
2. 2026-03-26
   listed $49,999 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

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

Taxation est. · year 1

• Rental income: $17,076
• − Mortgage interest: −$2,801
• − Property taxes: −$750
• − Insurance: −$250
• − Repairs & maintenance: −$1,366
• − Management: −$1,366
• − Depreciation: −$1,455
• Taxable income: $9,089
• Est. tax owed @ 24.0%: −$2,181
• After-tax cash flow: $7,162/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): 32,132
• Household income: $55,910
• Rent vs Own: 39.8% rent · 60.2% own
• Severe rent burden: 1394.0

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 (71%)
• Race & ethnicity: White 71% Black 17% Two or more races 6% Hispanic / Latino 6% Asian 1%
• Hispanic origin (detail): Mexican 3%
• Common ancestry: Italian 3% Lithuanian 2% Slovak 1%
• Foreign-born: 6% · Canada, China
• Languages at home: 92% English-only · Spanish 4% Other Asian/Pacific 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: ▼ -124.80%
• Current HPI: 211.1755
• Rent YoY: ▲ 7.86%
• 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

2 events — show timeline

• 2026-03-27 Pending — IRMLS
• 2026-03-26 Listed $49,999 IRMLS

Property tax history

+13.1%/yr

Latest (2024): $2,505 · +2.4% YoY. Source: county tax records.