2222 Kathleen Ave · Evansville, IN 47714

$112,500

3 bd · 1.0 ba · 840 sqft · SingleFamily public records · 59 Days on market

Built 1950 6,970 sqft lot Est $127k · 11% 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 +25.5/30.0
• ARV discount +12.6/15.0
• DSCR +8.5/10.0
• 1% rule +5.5/10.0
• 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 MLS

Completely remodeled and ready to call HOME! This home has loads of charm and character. A large front porch - ready for two rocking chairs for morning coffee - welcomes you to the front door. A large living room has lovely barnwood look flooring that travels gracefully throughout the home. The living room has fresh light gray paint and has been accented by white wainscoting. The kitchen has brand new white cabinets and brand new stone look counters. A stone and stainless backsplash sets off the Stainless appliances that will be included in the sale. Two bedrooms have nice closets and ceiling fans. The bathroom has been updated with new toilet, vanity, sink, faucet, light fixture, mirror, and shower head. A large back yard that is fully fenced Additional updates in this lovely home include: new light fixtures throughout, baseboards, interior doors, fresh paint throughout, kitchen sink, faucet, roof = 3 yrs, water heater = 2 yrs, Hvac around 4 yrs. All of this and the seller is providing a Home Warranty!

Key facts

• Hvac is 9 years old
• Convenient location
• Roof is 6 years old

Tags

• CONVENIENT LOCATION
• PRIVATE OUTDOOR LIVING
• ROOF IS 6 YEARS OLD
• HVAC IS 9 YEARS OLD
• WATER HEATER IS 5 YEARS OLD

Property features AI

Exterior

• Utilities: Public water; Public sewer; Electric service (implied)
• Home design: Single-family residential site-built home; One story; 50 x 138 lot (0.16 acre)
• Construction: Vinyl siding; Block foundation
• Exterior features: Covered porch; Chain link fencing; Shingle roof; Sloped lot

Interior

• Kitchen: Microwave; Refrigerator; Electric range
• Bedrooms: Total of 5 rooms (bedroom count not specified)
• Bathrooms: One full bathroom (main level)
• Heating & cooling: Central air conditioning; Natural gas forced air heating
• Interior features: Window treatments; Partial unfinished basement with sump pump
• Laundry & utility: Laundry on the main level; Gas water heater

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $112k.

Deal economics

• At list price, monthly cash flow is $263 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $112k).
• Recommended offer: $109k (3.0% below list) — sets the bar for market timing.
• Cap rate 9.1% 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: Fairlawn Elementary School (math 22% / reading 22%, grade F, #790 of 994 statewide, top 81%, 422 students, 76% FRL); Mcgary Middle School (math 8% / reading 15%, grade F, #311 of 330 statewide, top 94%, 351 students, 81% FRL); William Henry Harrison High School (math 29% / reading 54%, grade F, #211 of 369 statewide, top 58%, 1,158 students, 61% FRL) — zoned schools average 72% FRL vs 50% district-wide (23 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 25% at this address vs 40% district-wide (-14 pts) — the specific schools serving this property underperform the Evansville Vanderburgh School Corporation average; the district grade overstates school quality for this exact location.
• Market conditions: Rents rising fast (+7.9%/yr); 188 active listings in the ZIP; 16 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 $778 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 7.9% rent growth), your $32k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 59 days — a 3% lower offer ($109k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 10y 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.

Risks & watch-outs

• Watch-outs: built in 1950 — 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 $109,125 (3.0% below list)

Questions for the listing agent

1. It's been on market 59 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1950 — 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. 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: 1.05% ✓
• Cap rate: 9.10%
• Cash-on-cash: 10.03%
• DSCR: 1.45
• GRM: 7.9

CMA / ARV

• ARV (on-the-fly): $126,840
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2116 E Riverside Dr	0.19mi	2/1.0 (-1)	825 (-2%)	2mo	$118,500	$144	81
2232 E Riverside Dr	0.12mi	2/1.0 (-1)	810 (-4%)	3mo	$81,888	$101	81
2328 Frisse Ave	0.15mi	2/1.0 (-1)	868 (+3%)	4mo	$139,000	$160	79
2329 Pollack Ave	0.17mi	2/1.0 (-1)	780 (-7%)	0mo	$94,000	$121	75
2524 E Riverside Dr	0.36mi	3/1.0	923 (+10%)	2mo	$139,000	$151	65
2511 S Ruston Ave	0.40mi	3/1.0	925 (+10%)	2mo	$90,000	$97	63
2016 Shelby Ave	0.52mi	3/1.0	888 (+6%)	5mo	$160,000	$180	62
1513 Macarthur Cir	0.74mi	3/1.0	916 (+9%)	4mo	$138,000	$151	47
1751 S Parker Dr	0.42mi	2/1.0 (-1)	720 (-14%)	5mo	$120,000	$167	47
1817 Culverson Ave	0.49mi	2/1.0 (-1)	720 (-14%)	4mo	$129,900	$180	45
2505 Ravenswood Dr	0.71mi	3/1.0	932 (+11%)	5mo	$127,000	$136	45
2202 Ravenswood Dr	0.69mi	2/1.0 (-1)	728 (-13%)	3mo	$118,450	$163	38

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: 3.6%
• Equity multiple: 1.15×
• Total profit: $4,568
• Equity at exit: $16,774

10-year hold

• IRR: 16.9%
• Equity multiple: 2.68×
• Total profit: $52,928
• Equity at exit: $9,727

Cash invested: $31,500 (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: 7.9×

Monthly cashflow live

• Estimated rent: $1,183 high
• Mortgage (P&I): −$590
• Tax from tax record: −$34 /mo · $413/yr
• Insurance: −$47
• HOA: −$0
• Vacancy / Maint / Mgmt: −$248
• Net cashflow: $263

Break-even live

Break-even rent $850

Max offer price $112,500

Occupancy floor 73%

Sensitivity live

Price	-10% $327	-5% $295	+0% $263	+5% $232	+10% $200
Rent	-10% $170	-5% $217	+0% $263	+5% $310	+10% $357
Rate	-1.0pp $320	-0.5pp $292	base $263	+0.5pp $234	+1.0pp $205

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: $28,125
• Closing costs: $3,375
• Reserves months: —
• Total cash needed: —

Rent comps 16 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2232 E Riverside Dr Evansville, IN	2.0	1.0	810	$1,200	$1.48	14d	1	0.09mi
2501 Pollack Ave Evansville, IN	2.0	1.0	648	$1,080	$1.67	21d	1	0.33mi
1952 Colts Ln Evansville, IN	1.0–3.0	1.0	1146	$1,275	$1.11	21d	8	0.40mi
1762 Spring Ct Evansville, IN	2.0	1.0	975	$1,450	$1.49	21d	1	0.43mi
1909 Plantation Ct Evansville, IN	2.0	1.0	780	$700	$0.90	21d	2	0.44mi
2818 S Villa Dr Evansville, IN	3.0	1.0	1061	$1,295	$1.22	21d	1	0.56mi
2340 Sunburst Blvd Unit 2270-318 Evansville, IN	2.0	1.0	815	$900	$1.10	21d	1	0.66mi
2340 Sunburst Blvd Unit 2200-202 Evansville, IN	3.0	1.0	973	$1,050	$1.08	21d	1	0.66mi
1604 Marbo Ave Evansville, IN	2.0	1.0	900	$1,095	$1.22	21d	1	0.79mi
1909 Taylor Ave Evansville, IN	2.0	1.0	700	$1,200	$1.71	14d	1	0.88mi
1505 Jackson Ave Evansville, IN	2.0	1.0	780	$995	$1.28	21d	1	1.08mi
1500 S Harlan Ave Evansville, IN	2.0	1.0	712	$900	$1.26	14d	1	1.24mi
3700 Justus Ct Evansville, IN	1.0–2.0	1.0–2.0	790	$975	$1.23	21d	1	1.26mi
1320 Lee Ct Evansville, IN	1.0–4.0	1.0–1.5	1007	$1,266	$1.26	14d	36	1.30mi
900 S Saint James Blvd Evansville, IN	3.0	2.0	1118	$1,450	$1.30	21d	1	1.31mi
1621 Burdette Ave Evansville, IN	2.0	1.0	720	$1,050	$1.46	21d	1	1.48mi

Listing history 25 events

1. 2026-06-18
   days on market $112,500 Active 59 DOM
2. 2026-06-17
   days on market $112,500 Active 58 DOM
3. 2026-06-16
   days on market $112,500 Active 57 DOM
4. 2026-06-15
   days on market $112,500 Active 56 DOM
5. 2026-06-14
   days on market $112,500 Active 54 DOM
6. 2026-06-13
   days on market $112,500 Active 53 DOM
7. 2026-06-10
   days on market $112,500 Active 51 DOM
8. 2026-06-09
   days on market $112,500 Active 50 DOM
9. 2026-06-08
   days on market $112,500 Active 49 DOM
10. 2026-06-07
    days on market $112,500 Active 48 DOM
11. 2026-06-02
    days on market $112,500 Active 43 DOM
12. 2026-06-01
    days on market $112,500 Active 42 DOM
13. 2026-05-31
    days on market $112,500 Active 41 DOM
14. 2026-05-30
    days on market $112,500 Active 40 DOM
15. 2026-04-20
    listed $115,000 Active
16. 2026-04-03
    price $115,000
17. 2026-03-18
    price $118,000
18. 2026-02-27
    price $119,000
19. 2025-11-16
    price $120,000
20. 2025-10-18
    listed $125,000 Active
21. 2022-05-13
    soldstatus $105,000 1019-char remark

    Show marketing remark (1019 chars)

    Completely remodeled and ready to call HOME! This home has loads of charm and character. A large front porch - ready for two rocking chairs for morning coffee - welcomes you to the front door. A large living room has lovely barnwood look flooring that travels gracefully throughout the home. The living room has fresh light gray paint and has been accented by white wainscoting. The kitchen has brand new white cabinets and brand new stone look counters. A stone and stainless backsplash sets off the Stainless appliances that will be included in the sale. Two bedrooms have nice closets and ceiling fans. The bathroom has been updated with new toilet, vanity, sink, faucet, light fixture, mirror, and shower head. A large back yard that is fully fenced Additional updates in this lovely home include: new light fixtures throughout, baseboards, interior doors, fresh paint throughout, kitchen sink, faucet, roof = 3 yrs, water heater = 2 yrs, Hvac around 4 yrs. All of this and the seller is providing a Home Warranty!

22. 2022-03-17
    listed $109,900 1019-char remark

    Show marketing remark (1019 chars)

    Completely remodeled and ready to call HOME! This home has loads of charm and character. A large front porch - ready for two rocking chairs for morning coffee - welcomes you to the front door. A large living room has lovely barnwood look flooring that travels gracefully throughout the home. The living room has fresh light gray paint and has been accented by white wainscoting. The kitchen has brand new white cabinets and brand new stone look counters. A stone and stainless backsplash sets off the Stainless appliances that will be included in the sale. Two bedrooms have nice closets and ceiling fans. The bathroom has been updated with new toilet, vanity, sink, faucet, light fixture, mirror, and shower head. A large back yard that is fully fenced Additional updates in this lovely home include: new light fixtures throughout, baseboards, interior doors, fresh paint throughout, kitchen sink, faucet, roof = 3 yrs, water heater = 2 yrs, Hvac around 4 yrs. All of this and the seller is providing a Home Warranty!

23. 2020-08-10
    soldstatus $41,900
24. 2020-07-10
    listed $49,900
25. 2016-04-06
    listed $34,000

ⓘ 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: $413 · $34/mo
• Projected year-2 tax: $685 · $57/mo
• Expected delta: +$272/yr (+$23/mo · 65.8%)

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

Climate risk First Street

• 🌊 Flood 3/10 Moderate FEMA zone X · 20% 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: $14,197
• − Mortgage interest: −$6,302
• − Property taxes: −$413
• − Insurance: −$562
• − Repairs & maintenance: −$1,136
• − Management: −$1,136
• − Depreciation: −$3,273
• Taxable income: $1,376
• Est. tax owed @ 24.0%: −$330
• After-tax cash flow: $2,831/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

+238.2% since first listed

11 events — show timeline

• 2026-04-20 Listed $115,000 IRMLS
• 2026-04-03 Price Changed $115,000 IRMLS
• 2026-03-18 Price Changed $118,000 IRMLS
• 2026-02-27 Price Changed $119,000 IRMLS
• 2025-11-16 Price Changed $120,000 IRMLS
• 2025-10-18 Listed $125,000 IRMLS
• 2022-05-13 Sold (MLS) $105,000 IRMLS
• 2022-03-17 Listed $109,900 IRMLS
• 2020-08-10 Sold (MLS) $41,900 IRMLS
• 2020-07-10 Listed $49,900 IRMLS
• 2016-04-06 Listed $34,000 IRMLS

Property tax history

+0.1%/yr

Latest (2024): $413 · +5.3% YoY. Source: county tax records.