1401 Lodge Ave · Evansville, IN 47714

$145,000

3 bd · 1.0 ba · 990 sqft · SingleFamily public records · 50 Days on market

Built 1929 4,356 sqft lot Est $145k · at est.

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Why this score? — see what drove the D 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 +14.1/30.0
• ARV discount +7.4/15.0
• Rent growth +4.5/5.0
• DSCR +4.3/10.0
• Schools +3.3/10.0
• Livability +3.2/5.0
• 1% rule +2.8/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Charming 3-bedroom/1 bath home with full basement, waterproofed by Healthy Spaces for potential living space or ample storage. Spacious living roomwith a wood-burning fireplace. Formal dining room that leads into large kitchen. Two of the bedrooms off the living room, and third bedroom located off the kitchennear the basement access. Fully fenced backyard and driveway with carport for off-street parking. This home has undergone recent improvements (per seller) asfollows: new plumbing installed by Bud's in January 2023, a basement waterproofing system by Healthy Spaces, new basement windows, and a new roof installedat the end of 2022. Prior updates include a Lennox furnace (2016), newer water heater, and replacement windows. Home being sold as is.

Key facts

• New plumbing
• Remodeled kitchen
• Full basement

Tags

• FULL BASEMENT
• WATERPROOFED BY HEALTHY SPACES
• REMODELED KITCHEN
• FULLY FENCED BACKYARD
• OFF-STREET PARKING
• NEW PLUMBING

Property features AI

Finance

• Other: Zoned R-1 One-Family Residence

Exterior

• Parking: Carport; 2-car garage
• Utilities: Public water; Public sewer
• Home design: Single-family site-built home; One story
• Construction: Vinyl siding; Shingle roof; Built on foundation with basement
• Exterior features: Fully fenced yard; Level lot; Yard shed(s)

Interior

• Kitchen: Electric range; Refrigerator; Dishwasher not listed
• Flooring: Laminate flooring
• Bathrooms: One full bathroom (main level)
• Heating & cooling: Natural gas forced-air heat; Central air conditioning
• Interior features: Living room wood-burning fireplace; Full unfinished basement with sump pump; 7 total rooms
• Laundry & utility: Washer and dryer included; Laundry located on lower level

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $145k.

Deal economics

• At list price, monthly cash flow is $21 ($249/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $113k (22.2% below list).
• Recommended offer: $113k (22.2% below list) — sets the bar for 1% rule.
• Cap rate 6.5% 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: Harper Elementary School (math 32% / reading 27%, grade F, #697 of 994 statewide, top 73%, 337 students, 74% FRL); Washington Middle School (math 14% / reading 24%, grade F, #274 of 330 statewide, top 83%, 353 students, 70% FRL); New Tech Institute (math 34% / reading 74%, grade C-, #79 of 369 statewide, top 26%, 275 students, 40% FRL).
• Market conditions: Rents rising fast (+7.9%/yr); 191 active listings in the ZIP; 25 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 $1k of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 50 days — a 3% lower offer ($141k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 9y ago; this cycle's ask has dropped $15k (9%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $75k; list at $145k implies a 93% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1929 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate flood risk; extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $112,808 (22.2% below list)

Questions for the listing agent

1. It's been on market 50 days. Have you received any prior offers? Is the seller open to a 22% concession, seller financing, or rate buy-down credit?
2. Built in 1929 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
6. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 0.78% ✗
• Cap rate: 6.46%
• Cash-on-cash: 0.61%
• DSCR: 1.03
• GRM: 10.7

CMA / ARV

• ARV (on-the-fly): $144,540
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1401 Lodge Ave	0.00mi	3/1.0	990 (0%)	0mo	$145,000	$146	100
1203 Lodge Ave	0.14mi	3/1.0	864 (-13%)	4mo	$60,000	$69	69
1114 S Englewood Ave	0.31mi	3/1.0	1,108 (+12%)	2mo	$154,000	$139	64
1410 Sweetser Ave	0.45mi	2/1.0 (-1)	928 (-6%)	1mo	$165,000	$178	63
1913 Monroe Ave	0.46mi	2/1.0 (-1)	936 (-6%)	4mo	$155,900	$167	61
1451 Bellemeade Ave	0.68mi	2/1.0 (-1)	1,016 (+3%)	2mo	$215,000	$212	58
1201 S Rotherwood Ave	0.27mi	2/1.0 (-1)	843 (-15%)	4mo	$138,000	$164	54
713 S Runnymeade Ave	0.66mi	2/1.0 (-1)	1,056 (+7%)	1mo	$153,500	$145	52
1810 Cass Ave	0.47mi	2/1.5 (-1)	1,080 (+9%)	4mo	$125,000	$116	52
1159 Sweetser Ave	0.54mi	2/1.0 (-1)	888 (-10%)	2mo	$82,500	$93	51
1801 E Powell Ave	0.57mi	2/1.0 (-1)	880 (-11%)	1mo	$168,500	$191	49
830 Madison Ave	0.68mi	2/1.0 (-1)	896 (-10%)	4mo	$27,000	$30	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 · 7.86% rent growth · sell at horizon

5-year hold

• IRR: -10.7%
• Equity multiple: 0.59×
• Total profit: $-16,452
• Equity at exit: $21,620

10-year hold

• IRR: 3.8%
• Equity multiple: 1.33×
• Total profit: $13,376
• Equity at exit: $12,537

Cash invested: $40,600 (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: 191
• Price-to-rent: 10.7×

Monthly cashflow live

• Estimated rent: $1,128 high
• Mortgage (P&I): −$760
• Tax from tax record: −$50 /mo · $596/yr
• Insurance: −$60
• HOA: −$0
• Vacancy / Maint / Mgmt: −$237
• Net cashflow: $21

Break-even live

Break-even rent $1,102

Max offer price $145,000

Occupancy floor 93%

Sensitivity live

Price	-10% $103	-5% $62	+0% $21	+5% $-20	+10% $-61
Rent	-10% $-68	-5% $-24	+0% $21	+5% $65	+10% $110
Rate	-1.0pp $94	-0.5pp $58	base $21	+0.5pp $-17	+1.0pp $-55

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: $36,250
• Closing costs: $4,350
• Reserves months: —
• Total cash needed: —

Rent comps 25 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1505 Jackson Ave Evansville, IN	2.0	1.0	780	$995	$1.28	22d	1	0.13mi
1500 S Harlan Ave Evansville, IN	2.0	1.0	712	$900	$1.26	15d	1	0.16mi
1909 Taylor Ave Evansville, IN	2.0	1.0	700	$1,200	$1.71	15d	1	0.45mi
1133 Bayard Park Dr Unit B Evansville, IN	2.0	1.0	990	$800	$0.81	22d	1	0.62mi
1909 Plantation Ct Evansville, IN	2.0	1.0	780	$700	$0.90	22d	2	0.74mi
1762 Spring Ct Evansville, IN	2.0	1.0	975	$1,450	$1.49	22d	1	0.78mi
1952 Colts Ln Evansville, IN	1.0–3.0	1.0	1146	$1,275	$1.11	22d	8	0.78mi
715 E Riverside Dr Evansville, IN	2.0	1.0	806	$895	$1.11	22d	1	0.88mi
605 Madison Ave Evansville, IN	2.0	1.0	1069	$1,375	$1.29	22d	1	0.98mi
734 Bayard Park Dr Evansville, IN	3.0	2.0	1000	$1,425	$1.43	22d	1	0.99mi
2340 Sunburst Blvd Unit 2200-202 Evansville, IN	3.0	1.0	973	$1,050	$1.08	22d	1	0.99mi
2340 Sunburst Blvd Unit 2270-318 Evansville, IN	2.0	1.0	815	$900	$1.10	22d	1	0.99mi
507 S Evans Ave Evansville, IN	2.0	1.0	750	$795	$1.06	22d	1	1.20mi
2232 E Riverside Dr Evansville, IN	2.0	1.0	810	$1,200	$1.48	15d	1	1.25mi
304 S Grand Ave Evansville, IN	2.0	1.0	967	$955	$0.99	22d	1	1.25mi
900 S Saint James Blvd Evansville, IN	3.0	2.0	1118	$1,450	$1.30	22d	1	1.27mi
210 S Weinbach Ave Evansville, IN	3.0	1.0	1080	$1,450	$1.34	22d	1	1.29mi
827 Judson St Evansville, IN	3.0	1.0	1008	$1,295	$1.28	15d	1	1.33mi
2501 Pollack Ave Evansville, IN	2.0	1.0	648	$1,080	$1.67	22d	1	1.33mi
1440 E Division St Evansville, IN	2.0	1.0	689	$1,250	$1.81	15d	1	1.34mi
1604 Marbo Ave Evansville, IN	2.0	1.0	900	$1,095	$1.22	22d	1	1.34mi
1415 E Indiana St Evansville, IN	2.0	1.0	814	$795	$0.98	15d	1	1.37mi
1321 E Indiana St Evansville, IN	2.0	1.0	964	$1,050	$1.09	15d	1	1.38mi
1303 E Indiana St Evansville, IN	2.0	1.0	975	$1,195	$1.23	15d	1	1.38mi
17 Washington Ave Evansville, IN	2.0	1.0	882	$1,455	$1.65	22d	1	1.47mi

Listing history 13 events

1. 2026-05-09
   status Pending
2. 2026-05-03
   price $145,000
3. 2026-04-26
   price $152,500
4. 2026-04-06
   price $157,500
5. 2026-03-19
   listed $160,000 Active
6. 2026-01-22
   soldstatus $75,000 Closed 756-char remark

   Show marketing remark (756 chars)

   Charming 3-bedroom/1 bath home with full basement, waterproofed by Healthy Spaces for potential living space or ample storage. Spacious living roomwith a wood-burning fireplace. Formal dining room that leads into large kitchen. Two of the bedrooms off the living room, and third bedroom located off the kitchennear the basement access. Fully fenced backyard and driveway with carport for off-street parking. This home has undergone recent improvements (per seller) asfollows: new plumbing installed by Bud's in January 2023, a basement waterproofing system by Healthy Spaces, new basement windows, and a new roof installedat the end of 2022. Prior updates include a Lennox furnace (2016), newer water heater, and replacement windows. Home being sold as is.

7. 2025-11-25
   status Pending
8. 2025-11-24
   listed $125,000 Active
9. 2024-10-22
   listed $119,900 Active
10. 2021-12-20
    soldstatus $110,000
11. 2021-09-29
    listed $110,000
12. 2018-05-10
    soldstatus $65,000
13. 2017-12-16
    listed $75,000

ⓘ 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: $596 · $50/mo
• Projected year-2 tax: $914 · $76/mo
• Expected delta: +$318/yr (+$27/mo · 53.5%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 5/10 Major FEMA zone X · 48% 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 3/10 Moderate 3 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $13,537
• − Mortgage interest: −$8,122
• − Property taxes: −$596
• − Insurance: −$725
• − Repairs & maintenance: −$1,083
• − Management: −$1,083
• − Depreciation: −$4,218
• Taxable loss: −$2,290
• Est. tax savings @ 24.0%: +$550
• After-tax cash flow: $799/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

+93.3% since first listed

13 events — show timeline

• 2026-05-09 Pending — IRMLS
• 2026-05-03 Price Changed $145,000 IRMLS
• 2026-04-26 Price Changed $152,500 IRMLS
• 2026-04-06 Price Changed $157,500 IRMLS
• 2026-03-19 Listed $160,000 IRMLS
• 2026-01-22 Sold (MLS) $75,000 IRMLS
• 2025-11-25 Pending — IRMLS
• 2025-11-24 Listed $125,000 IRMLS
• 2024-10-22 Listed $119,900 IRMLS
• 2021-12-20 Sold (MLS) $110,000 IRMLS
• 2021-09-29 Listed $110,000 IRMLS
• 2018-05-10 Sold (MLS) $65,000 IRMLS
• 2017-12-16 Listed $75,000 IRMLS

Property tax history

+1.6%/yr

Latest (2024): $596 · +1.2% YoY. Source: county tax records.