706 E Iowa St · Evansville, IN 47711

$97,500

2 bd · 2.0 ba · 1,155 sqft · SingleFamily public records · 15 Days on market

Built 1919 Est $118k · 17% 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 +25.1/30.0
• ARV discount +15.0/15.0
• DSCR +8.2/10.0
• 1% rule +5.5/10.0
• Rent growth +4.2/5.0
• Schools +3.3/10.0
• Livability +3.2/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

What a fabulous home! This home was totally remodeled from top to bottom. Fenced back yard a detached garage. A small porch to sit out on those summer nights and enjoy the neighborhood. Kitchen has a range and refrigerator. Show and sell!!

Key facts

• Tall 9 ft ceilings
• Charming kitchen
• Unique fireplace

Tags

• TALL 9 FT CEILINGS
• UNIQUE FIREPLACE
• ORIGINAL HARDWOOD FLOORS
• CHARMING KITCHEN
• DETACHED ONE CAR GARAGE

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath single-family listed at $98k.

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 ($1k rent vs $98k).
• Recommended offer: $96k (1.5% below list) — sets the bar for market timing.
• Cap rate 9.0% 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: schools D+, crime F, commute F.
• 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.
• Market conditions: Rents rising fast (+6.7%/yr); 229 active listings in the ZIP; 29 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).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $674 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 6.7% rent growth), your $27k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 15 days — a 2% lower offer ($96k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 5y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $75k; 30% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1919 — 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 $96,037 (1.5% below list)

Questions for the listing agent

1. Built in 1919 — 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: 1.05% ✓
• Cap rate: 8.96%
• Cash-on-cash: 9.52%
• DSCR: 1.42
• GRM: 8.0

CMA / ARV

• ARV (on-the-fly): $117,810
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
614 E Iowa St	0.05mi	2/1.0	1,176 (+2%)	7mo	$119,900	$102	85
416 E Michigan St	0.23mi	2/1.0	1,090 (-6%)	0mo	$50,000	$46	76
313 E Iowa St	0.26mi	2/1.0	1,116 (-3%)	8mo	$69,900	$63	72
318 E Eichel Ave	0.63mi	2/1.0	1,158 (+0%)	7mo	$72,000	$62	61
613 E Louisiana St	0.37mi	3/1.0 (+1)	1,296 (+12%)	3mo	$25,000	$19	51
211 S Bedford Ave	0.60mi	3/1.0 (+1)	1,246 (+8%)	1mo	$136,500	$110	49
220 E Eichel Ave	0.66mi	2/1.0	1,231 (+7%)	7mo	$84,900	$69	49
1311 N Garvin St	0.49mi	2/1.0	1,016 (-12%)	6mo	$126,000	$124	48
515 E Cherry St	0.73mi	3/2.0 (+1)	1,210 (+5%)	8mo	$150,000	$124	46
416 S Garvin St	0.69mi	2/1.0	1,024 (-11%)	3mo	$38,750	$38	42
29 W Florida St	0.73mi	3/1.0 (+1)	1,232 (+7%)	7mo	$135,000	$110	40
424 S Linwood Ave	0.71mi	3/2.0 (+1)	990 (-14%)	5mo	$155,000	$157	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 · 6.72% rent growth · sell at horizon

5-year hold

• IRR: 1.8%
• Equity multiple: 1.07×
• Total profit: $1,931
• Equity at exit: $14,538

10-year hold

• IRR: 14.5%
• Equity multiple: 2.35×
• Total profit: $36,883
• Equity at exit: $8,430

Cash invested: $27,300 (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 47711

• Home prices YoY: -32.3%
• Rents YoY: 6.7%
• Active inventory: 229
• Price-to-rent: 8.0×

Monthly cashflow live

• Estimated rent: $1,022 high
• Mortgage (P&I): −$511
• Tax from tax record: −$39 /mo · $465/yr
• Insurance: −$41
• HOA: −$0
• Vacancy / Maint / Mgmt: −$215
• Net cashflow: $217

Break-even live

Break-even rent $748

Max offer price $97,500

Occupancy floor 74%

Sensitivity live

Price	-10% $272	-5% $244	+0% $217	+5% $189	+10% $161
Rent	-10% $136	-5% $176	+0% $217	+5% $257	+10% $297
Rate	-1.0pp $266	-0.5pp $241	base $217	+0.5pp $191	+1.0pp $166

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: $24,375
• Closing costs: $2,925
• Reserves months: —
• Total cash needed: —

Rent comps 29 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
610 N Main St Evansville, IN	2.0	1.0	751	$675	$0.90	21d	1	0.49mi
200 N Main St Evansville, IN	2.0	1.0–2.0	857	$1,599	$1.86	14d	7	0.57mi
1018 Baker Ave Unit B Evansville, IN	1.0	1.0	800	$625	$0.78	21d	1	0.67mi
304 S Grand Ave Evansville, IN	2.0	1.0	967	$955	$0.99	21d	1	0.68mi
41 W Division St Apt 200 Evansville, IN	2.0	2.0	1083	$1,500	$1.39	21d	1	0.69mi
32 W Tennessee St Evansville, IN	2.0	1.0	864	$925	$1.07	14d	1	0.75mi
507 S Evans Ave Evansville, IN	2.0	1.0	750	$795	$1.06	21d	1	0.80mi
1303 E Indiana St Evansville, IN	2.0	1.0	975	$1,195	$1.23	14d	1	0.87mi
1321 E Indiana St Evansville, IN	2.0	1.0	964	$1,050	$1.09	14d	1	0.90mi
706 Court St Evansville, IN	2.0	1.5	1100	$850	$0.77	21d	1	0.94mi
313 NW Martin Luther King Junior Blvd Unit 311 Evansville, IN	2.0	1.0	1200	$950	$0.79	21d	1	0.95mi
1415 E Indiana St Evansville, IN	2.0	1.0	814	$795	$0.98	14d	1	1.01mi
24 NW 6th St Apt 103 Evansville, IN	1.0	1.0	706	$1,300	$1.84	21d	1	1.05mi
400 NW 5th St Unit 4 Evansville, IN	2.0	1.0	792	$725	$0.92	21d	1	1.10mi
734 Bayard Park Dr Evansville, IN	3.0	2.0	1000	$1,425	$1.43	21d	1	1.12mi
329 Main St Evansville, IN	1.0–2.0	1.0–2.0	717	$1,505	$2.10	14d	1	1.19mi
300 Main St Unit 1 D3 Evansville, IN	1.0	1.0	800	$2,000	$2.50	21d	1	1.24mi
2501 N Evans Ave Unit A Evansville, IN	2.0	1.0	856	$900	$1.05	21d	1	1.29mi
827 Judson St Evansville, IN	3.0	1.0	1008	$1,295	$1.28	14d	1	1.30mi
1133 Bayard Park Dr Unit B Evansville, IN	2.0	1.0	990	$800	$0.81	21d	1	1.31mi
1219 Joan Ave Unit 1219 Evansville, IN	2.0	1.0	725	$845	$1.17	14d	1	1.35mi
941 Stanley Ave Unit A Evansville, IN	1.0	1.0	850	$800	$0.94	21d	1	1.37mi
100 SE 1st St Evansville, IN	1.0–2.0	1.0–2.0	715	$1,725	$2.41	14d	17	1.39mi
615 SE 3rd St Unit D Evansville, IN	1.0	1.0	1122	$895	$0.80	21d	1	1.40mi
202 SE 1st St Evansville, IN	1.0–2.0	1.0	926	$2,449	$2.64	21d	4	1.40mi
924 SE 6th St Unit A Evansville, IN	1.0	1.0	800	$875	$1.09	21d	1	1.40mi
8 E Blackford Ave Evansville, IN	1.0	1.0	750	$825	$1.10	21d	1	1.43mi
322 SE 1st St Evansville, IN	1.0–2.0	1.0	1100	$1,700	$1.55	21d	6	1.44mi
315 SE 1st St Evansville, IN	1.0	1.0	1331	$1,695	$1.27	21d	1	1.45mi

Listing history 23 events

1. 2026-05-12
   listed $97,500 Active
2. 2025-11-15
   price $108,000
3. 2025-11-10
   price $120,300
4. 2025-11-07
   price $120,400
5. 2025-11-03
   price $120,500
6. 2025-10-31
   price $120,600
7. 2025-10-27
   price $120,700
8. 2025-10-24
   price $120,800
9. 2025-10-20
   price $120,900
10. 2025-10-17
    price $121,000
11. 2025-10-10
    price $121,100
12. 2025-09-29
    price $121,400
13. 2025-09-22
    price $121,600
14. 2025-09-19
    price $121,700
15. 2025-09-08
    price $122,000
16. 2025-09-05
    price $122,100
17. 2025-08-25
    price $122,400
18. 2025-08-18
    price $122,600
19. 2025-08-15
    price $122,700
20. 2025-08-11
    price $122,800
21. 2025-07-24
    listed $122,900 Active
22. 2021-10-15
    soldstatus $75,000 240-char remark

    Show marketing remark (240 chars)

    What a fabulous home! This home was totally remodeled from top to bottom. Fenced back yard a detached garage. A small porch to sit out on those summer nights and enjoy the neighborhood. Kitchen has a range and refrigerator. Show and sell!!

23. 2021-07-07
    listed $69,900 240-char remark

    Show marketing remark (240 chars)

    What a fabulous home! This home was totally remodeled from top to bottom. Fenced back yard a detached garage. A small porch to sit out on those summer nights and enjoy the neighborhood. Kitchen has a range and refrigerator. Show and sell!!

ⓘ 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: $465 · $39/mo
• Projected year-2 tax: $647 · $54/mo
• Expected delta: +$182/yr (+$15/mo · 39.0%)

ⓘ 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 ≥107°F today · 19 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 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: $12,263
• − Mortgage interest: −$5,462
• − Property taxes: −$465
• − Insurance: −$488
• − Repairs & maintenance: −$981
• − Management: −$981
• − Depreciation: −$2,836
• Taxable income: $1,051
• Est. tax owed @ 24.0%: −$252
• After-tax cash flow: $2,348/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): 30,944
• Household income: $66,320
• Rent vs Own: 24.4% rent · 75.6% own
• Severe rent burden: 659.0

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 (85%)
• Race & ethnicity: White 85% Black 8% Two or more races 5% Hispanic / Latino 2%
• Common ancestry: Lithuanian 2% Romanian 2% Slovak 1%
• Foreign-born: 2% · Canada
• Languages at home: 97% English-only · Spanish 2%

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: ▼ -97.98%
• Current HPI: 205.62
• Rent YoY: ▲ 6.72%
• 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

+39.5% since first listed

23 events — show timeline

• 2026-05-12 Listed $97,500 FSBO.com
• 2025-11-15 Price Changed $108,000 IRMLS
• 2025-11-10 Price Changed $120,300 IRMLS
• 2025-11-07 Price Changed $120,400 IRMLS
• 2025-11-03 Price Changed $120,500 IRMLS
• 2025-10-31 Price Changed $120,600 IRMLS
• 2025-10-27 Price Changed $120,700 IRMLS
• 2025-10-24 Price Changed $120,800 IRMLS
• 2025-10-20 Price Changed $120,900 IRMLS
• 2025-10-17 Price Changed $121,000 IRMLS
• 2025-10-10 Price Changed $121,100 IRMLS
• 2025-09-29 Price Changed $121,400 IRMLS
• 2025-09-22 Price Changed $121,600 IRMLS
• 2025-09-19 Price Changed $121,700 IRMLS
• 2025-09-08 Price Changed $122,000 IRMLS
• 2025-09-05 Price Changed $122,100 IRMLS
• 2025-08-25 Price Changed $122,400 IRMLS
• 2025-08-18 Price Changed $122,600 IRMLS
• 2025-08-15 Price Changed $122,700 IRMLS
• 2025-08-11 Price Changed $122,800 IRMLS
• 2025-07-24 Listed $122,900 IRMLS
• 2021-10-15 Sold (MLS) $75,000 IRMLS
• 2021-07-07 Listed $69,900 IRMLS

Property tax history

-6.7%/yr

Latest (2024): $465 · +23.8% YoY. Source: county tax records.