2452 W Maryland St · Evansville, IN 47712

$119,900

3 bd · 1.0 ba · 1,792 sqft · SingleFamily public records · 86 Days on market

Built 1953 2,500 sqft lot Est $188k · 36% 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 +26.1/30.0
• ARV discount +15.0/15.0
• DSCR +8.8/10.0
• 1% rule +6.2/10.0
• Schools +3.3/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

This turnkey rental home offers immediate cash flow with an established tenant in place since 2022. Currently generating $950 per month in rental income, the property provides dependable returns with utilities paid by the tenant. Located on the west side, the home includes all appliances and boasts a strong rental history, making it a low-maintenance investment and an easy addition to any portfolio.

Key facts

• 2,500 sq ft lot
• Built 1953
• Listed 86 days

Property features AI

Exterior

• Security: Smoke detectors
• Utilities: Public water; Public sewer
• Home design: Single-family residence (site-built); 2 stories
• Construction: Aluminum siding; Vinyl siding
• Exterior features: Level lot

Interior

• Bedrooms: Total of 5 rooms (bedroom count not specified)
• Flooring: Carpet; Vinyl
• Bathrooms: 1 full bathroom; 1 main-level bathroom
• Heating & cooling: Central air conditioning; Forced air heating
• Interior features: Carpet and vinyl flooring; Crawl space basement
• Laundry & utility: Washer hookup on the main level

🏷️ Possibly a rental listed for sale. The $119,900 price doesn't fit this home's estimated sale value (~$188,160) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $120k.

Deal economics

• At list price, monthly cash flow is $304 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $120k).
• Recommended offer: $113k (6.0% below list) — sets the bar for market timing.
• Cap rate 9.3% 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: Tekoppel Elementary School (math 42% / reading 33%, grade F, #543 of 994 statewide, top 55%, 445 students, 73% FRL); Helfrich Park Stem Academy (math 36% / reading 47%, grade F, #108 of 330 statewide, top 34%, 517 students, 52% FRL); Francis Joseph Reitz High School (math 45% / reading 68%, grade C, #70 of 369 statewide, top 19%, 1,280 students, 44% FRL).
• Market conditions: 134 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 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 $829 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $34k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 86 days — a 6% lower offer ($113k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 6y ago; this cycle's ask has dropped $10k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $75k; list at $120k implies a 60% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1953 — 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 $112,706 (6.0% below list)

Questions for the listing agent

1. It's been on market 86 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 1953 — 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: 1.12% ✓
• Cap rate: 9.33%
• Cash-on-cash: 10.85%
• DSCR: 1.48
• GRM: 7.4

CMA / ARV

• ARV (on-the-fly): $188,160
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1412 Russell Ave	0.41mi	3/1.5	1,820 (+2%)	7mo	$195,525	$107	71
2726 W Franklin St	0.41mi	3/1.5	1,676 (-6%)	2mo	$195,000	$116	66
2218 W Maryland St	0.20mi	3/1.0	1,536 (-14%)	4mo	$75,000	$49	63
2200 W Virginia St	0.34mi	3/2.5	2,009 (+12%)	0mo	$166,400	$83	58
3106 Mount Vernon Ave	0.64mi	3/1.5	1,710 (-5%)	3mo	$192,000	$112	58
2518 W Illinois St	0.41mi	3/2.5	1,658 (-8%)	8mo	$180,000	$109	56
2206 W Virginia St	0.33mi	4/2.0 (+1)	2,006 (+12%)	4mo	$197,900	$99	53
809 Harmony Way	0.57mi	4/2.0 (+1)	1,905 (+6%)	3mo	$200,000	$105	52
1710 Russell Ave	0.62mi	3/1.0	1,997 (+11%)	1mo	$265,000	$133	51
2813 W Franklin St	0.48mi	3/1.0	1,548 (-14%)	5mo	$119,900	$77	50
2117 W Indiana St	0.55mi	4/2.0 (+1)	1,952 (+9%)	0mo	$155,000	$79	50
806 Varner Ave	0.74mi	4/2.0 (+1)	1,950 (+9%)	6mo	$108,500	$56	37

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: -0.1%
• Equity multiple: 1.00×
• Total profit: $-112
• Equity at exit: $17,877

10-year hold

• IRR: 9.6%
• Equity multiple: 1.74×
• Total profit: $24,709
• Equity at exit: $10,367

Cash invested: $33,572 (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 47712

• Home prices YoY: -32.1%
• Active inventory: 134
• Price-to-rent: 7.4×

Monthly cashflow live

• Estimated rent: $1,342 medium
• Mortgage (P&I): −$629
• Tax from tax record: −$78 /mo · $937/yr
• Insurance: −$50
• HOA: −$0
• Vacancy / Maint / Mgmt: −$282
• Net cashflow: $304

Break-even live

Break-even rent $958

Max offer price $119,900

Occupancy floor 72%

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: $29,975
• Closing costs: $3,597
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1319 Uhlhorn St Evansville, IN	3.0	2.0	1424	$1,350	$0.95	13d	1	1.25mi

Listing history 21 events

1. 2026-06-18
   days on market $119,900 Active 86 DOM
2. 2026-06-17
   remarks 403-char remark
3. 2026-06-17
   price $119,900 Active 85 DOM
4. 2026-06-17
   days on market $127,900 Active 85 DOM
5. 2026-06-16
   days on market $127,900 Active 84 DOM
6. 2026-06-15
   days on market $127,900 Active 83 DOM
7. 2026-06-14
   days on market $127,900 Active 81 DOM
8. 2026-06-13
   days on market $127,900 Active 80 DOM
9. 2026-06-10
   days on market $127,900 Active 78 DOM
10. 2026-06-09
    days on market $127,900 Active 77 DOM
11. 2026-06-08
    days on market $127,900 Active 76 DOM
12. 2026-06-07
    days on market $127,900 Active 75 DOM
13. 2026-06-02
    days on market $127,900 Active 70 DOM
14. 2026-06-01
    days on market $127,900 Active 69 DOM
15. 2026-05-31
    days on market $127,900 Active 68 DOM
16. 2026-05-30
    days on market $127,900 Active 67 DOM
17. 2026-05-01
    price $127,900
18. 2026-03-24
    listed $129,900 Active
19. 2026-03-24
    listed $129,900 Active
20. 2020-11-16
    soldstatus $75,000
21. 2020-09-08
    listed $77,900

ⓘ 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: $937 · $78/mo
• Projected year-2 tax: $978 · $81/mo
• Expected delta: +$41/yr (+$3/mo · 4.4%)

ⓘ 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: $16,108
• − Mortgage interest: −$6,716
• − Property taxes: −$937
• − Insurance: −$600
• − Repairs & maintenance: −$1,289
• − Management: −$1,289
• − Depreciation: −$3,488
• Taxable income: $1,790
• Est. tax owed @ 24.0%: −$430
• After-tax cash flow: $3,214/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): 25,444
• Household income: $68,494
• Rent vs Own: 34.6% rent · 65.4% own
• Severe rent burden: 797.0

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 (91%)
• Race & ethnicity: White 91% Two or more races 4% Hispanic / Latino 2% Black 2% Asian 2%
• Common ancestry: Romanian 3% Lithuanian 2% Italian 1%
• Foreign-born: 2% · China, Canada
• Languages at home: 97% English-only · Spanish 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: ▼ -101.86%
• Current HPI: 215.5153
• Rent YoY: —
• 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

+64.2% since first listed

5 events — show timeline

• 2026-05-01 Price Changed $127,900 IRMLS
• 2026-03-24 Listed $129,900 IRMLS
• 2026-03-24 Listed $129,900 IRMLS
• 2020-11-16 Sold (MLS) $75,000 IRMLS
• 2020-09-08 Listed $77,900 IRMLS

Property tax history

+9.4%/yr

Latest (2024): $937 · -2.3% YoY. Source: county tax records.