1027 N 10th St · Vincennes, IN 47591

$74,900

2 bd · 1.0 ba · 904 sqft · SingleFamily public records · 183 Days on market

Built 1900 3,659 sqft lot $83/sqft · 20% above area Est $63k · 20% over ↓ 6% since listing

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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 +27.3/30.0
• DSCR +9.5/10.0
• 1% rule +7.0/10.0
• Livability +3.5/5.0
• Schools +3.0/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

This cozy 2-bedroom home features a comfortable living room and a separate dining room, giving you plenty of space to relax and entertain. It includes convenient laundry hookups, a handy storage room, and off-street parking located at the rear of the property. A great option for anyone looking for an easy-to-maintain home with practical amenities.

Key facts

• Storage room
• Living room
• Dining room

Tags

• LIVING ROOM
• DINING ROOM
• LAUNDRY HOOKUPS
• STORAGE ROOM
• OFF-STREET PARKING

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $75k.

Deal economics

• At list price, monthly cash flow is $217 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($900 rent vs $75k).
• Recommended offer: $66k (12.0% below list) — sets the bar for market timing.
• Cap rate 9.8% vs local median 5.0% 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: 139 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; 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 $518 of loan paydown is wiped out by about $2k 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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $21k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 183 days — a 12% lower offer ($66k) is reasonable based on typical stale-listing flexibility.

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 $65,912 (12.0% below list)

Questions for the listing agent

1. It's been on market 183 days. Have you received any prior offers? Is the seller open to a 12% 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. 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.
7. 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.
8. 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: 1.20% ✓
• Cap rate: 9.78%
• Cash-on-cash: 12.44%
• DSCR: 1.55
• GRM: 6.9

CMA / ARV

• ARV (median comp): $62,645
• List price: $74,900
• Delta: 19.56%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1027 N 10th St	0.00mi	2/1.0	904 (0%)	0mo	$62,000	$69	100
1159 E Saint Clair St	0.31mi	2/1.0	904 (0%)	2mo	$120,000	$133	83
902 N 12 St	0.20mi	2/1.0	952 (+5%)	4mo	$114,900	$121	79
1317 Wabash Ave	0.29mi	2/1.0	936 (+4%)	3mo	$144,000	$154	78
402 N 15th St	0.57mi	2/1.0	884 (-2%)	3mo	$120,000	$136	68
1172 E Locust St	0.25mi	2/1.0	1,008 (+12%)	4mo	$130,000	$129	66
25 N 15th St	0.73mi	2/1.0	900 (-0%)	1mo	$69,000	$77	65
1547 E Locust St	0.48mi	2/2.0	874 (-3%)	5mo	$102,000	$117	64
1806 College Ave	0.62mi	2/1.0	868 (-4%)	2mo	$95,000	$109	62
1304 Broadway St	0.56mi	2/1.0	1,014 (+12%)	2mo	$35,000	$35	51
853 Ridgeway Ave	0.58mi	2/1.5	781 (-14%)	4mo	$137,500	$176	46
1320 Perry St	0.48mi	1/1.0 (-1)	768 (-15%)	4mo	$28,000	$36	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: 2.1%
• Equity multiple: 1.08×
• Total profit: $1,706
• Equity at exit: $11,168

10-year hold

• IRR: 11.7%
• Equity multiple: 1.92×
• Total profit: $19,307
• Equity at exit: $6,476

Cash invested: $20,972 (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: 139
• Price-to-rent: 6.9×

Monthly cashflow live

• Estimated rent: $900 medium
• Mortgage (P&I): −$393
• Tax from tax record: −$70 /mo · $838/yr
• Insurance: −$31
• HOA: −$0
• Vacancy / Maint / Mgmt: −$189
• Net cashflow: $217

Break-even live

Break-even rent $625

Max offer price $74,900

Occupancy floor 71%

Sensitivity live

Price	-10% $260	-5% $239	+0% $217	+5% $196	+10% $175
Rent	-10% $146	-5% $182	+0% $217	+5% $253	+10% $288
Rate	-1.0pp $255	-0.5pp $236	base $217	+0.5pp $198	+1.0pp $178

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: $18,725
• Closing costs: $2,247
• Reserves months: —
• Total cash needed: —

Rent comps 3 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	45d	1	0.27mi
1520 Main St Apt 30 Vincennes, IN	1.0	1.0	825	$650	$0.79	45d	1	0.72mi
223 W Saint Clair St Vincennes, IN	2.0	1.0	610	$995	$1.63	45d	4	0.89mi

Listing history 11 events

1. 2026-06-07
   statusdays on market $74,900 Pending 183 DOM
2. 2026-06-04
   days on market $74,900 Active 182 DOM
3. 2026-06-02
   days on market $74,900 Active 181 DOM
4. 2026-06-01
   days on market $74,900 Active 180 DOM
5. 2026-05-31
   days on market $74,900 Active 179 DOM
6. 2026-05-31
   days on market $74,900 Active 178 DOM
7. 2026-05-13
   price $74,900 349-char remark

   Show marketing remark (349 chars)

   This cozy 2-bedroom home features a comfortable living room and a separate dining room, giving you plenty of space to relax and entertain. It includes convenient laundry hookups, a handy storage room, and off-street parking located at the rear of the property. A great option for anyone looking for an easy-to-maintain home with practical amenities.

8. 2026-03-31
   price $84,900 349-char remark

   Show marketing remark (349 chars)

   This cozy 2-bedroom home features a comfortable living room and a separate dining room, giving you plenty of space to relax and entertain. It includes convenient laundry hookups, a handy storage room, and off-street parking located at the rear of the property. A great option for anyone looking for an easy-to-maintain home with practical amenities.

9. 2026-02-24
   price $89,900 349-char remark

   Show marketing remark (349 chars)

   This cozy 2-bedroom home features a comfortable living room and a separate dining room, giving you plenty of space to relax and entertain. It includes convenient laundry hookups, a handy storage room, and off-street parking located at the rear of the property. A great option for anyone looking for an easy-to-maintain home with practical amenities.

10. 2025-12-03
    listed $92,500 Active 349-char remark

    Show marketing remark (349 chars)

    This cozy 2-bedroom home features a comfortable living room and a separate dining room, giving you plenty of space to relax and entertain. It includes convenient laundry hookups, a handy storage room, and off-street parking located at the rear of the property. A great option for anyone looking for an easy-to-maintain home with practical amenities.

11. 2009-11-03
    soldstatus $79,500

ⓘ 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: $838 · $70/mo
• Projected year-2 tax: $838 · $70/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 22% 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: $10,802
• − Mortgage interest: −$4,196
• − Property taxes: −$838
• − Insurance: −$374
• − Repairs & maintenance: −$864
• − Management: −$864
• − Depreciation: −$2,179
• Taxable income: $1,487
• Est. tax owed @ 24.0%: −$357
• After-tax cash flow: $2,251/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

-5.8% since first listed

5 events — show timeline

• 2026-05-13 Price Changed $74,900 IRMLS
• 2026-03-31 Price Changed $84,900 IRMLS
• 2026-02-24 Price Changed $89,900 IRMLS
• 2025-12-03 Listed $92,500 IRMLS
• 2009-11-03 Sold (Public Records) $79,500 Public Records

Property tax history

-1.1%/yr

Latest (2024): $838 · +2.4% YoY. Source: county tax records.