2724 Capitol Blvd · Evansville, IN 47711

$119,900

2 bd · 1.5 ba · 1,244 sqft · SingleFamily public records · 7 Days on market

Built 1950 0.31 ac lot Est $197k · 39% under

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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 +21.6/30.0
• ARV discount +15.0/15.0
• DSCR +6.9/10.0
• 1% rule +5.9/10.0
• 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

Opportunity Awaits for Investors OR Someone wanting to bring this back into a nice Personal Residence. SOLD AS IS!! Lots of Opportunities with this Bedford Stone Home that comes with many features. TLC is needed throughout. Home includes a basement, Detached garage with concrete floor as well as a Nice Outbuilding with gravel floor. Location, Location, Location. NO ESCALATION CLAUSE! ALL Offers must be submitted by June 1st at 5:00 PM. This is an Estate. Response by Wed June 3rd 5:00 PM. SOLD AS IS! BEST & HIGHEST!! Pre Approval letter to sent with offer. Proof of Funds for Cash will be required within 48 hrs.

Key facts

• Bedford stone home
• Detached garage
• 0.31 acre lot

Tags

• BEDFORD STONE HOME
• DETACHED GARAGE
• OUTBUILDING WITH GRAVEL FLOOR

Property features AI

Finance

• Other: Subdivision: Capitol Elms
• HOA & community: No association amenities

Exterior

• Parking: Detached concrete garage with 2 spaces
• Utilities: Public water; Public sewer; Cable available
• Home design: Single-family site-built home; One story
• Construction: Stone exterior; Partially finished basement
• Exterior features: Patio; Porch; Shed(s); Level, landscaped lot; Paved public road access

Interior

• Kitchen: Dishwasher; Refrigerator; Gas range
• Bathrooms: Two full bathrooms; One bathroom on the main level
• Heating & cooling: Natural gas heating; Central air conditioning
• Interior features: Entrance foyer; Living room fireplace (1)
• Laundry & utility: Washer hookup; Electric dryer hookup; Laundry located in basement

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath single-family listed at $120k.

Deal economics

• At list price, monthly cash flow is $182 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $120k).
• Cap rate 8.1% 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: Vogel Elementary School (math 38% / reading 33%, grade F, #584 of 994 statewide, top 59%, 523 students, 64% FRL); North Junior High School (math 44% / reading 57%, grade C, #43 of 330 statewide, top 14%, 929 students, 42% FRL); North High School (math 57% / reading 74%, grade B, #29 of 369 statewide, top 8%, 1,674 students, 35% FRL) — zoned schools at 47% FRL track the district average.
• Market conditions: Rents rising fast (+6.7%/yr); 229 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals leasing fast (median 14d on market — plan ~1-2 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 $829 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 6.7% rent growth), your $34k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• Only 7 days on market — expect competitive offers; lowballing is unlikely to land.

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 $119,900

Questions for the listing agent

1. Built in 1950 — 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: 1.09% ✓
• Cap rate: 8.11%
• Cash-on-cash: 6.49%
• DSCR: 1.29
• GRM: 7.6

CMA / ARV

• ARV (on-the-fly): $196,552
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2618 Lake Dr	0.19mi	3/2.0 (+1)	1,302 (+5%)	2mo	$229,999	$177	75
3500 Oak Hill Rd	0.38mi	2/1.0	1,300 (+4%)	10mo	$190,000	$146	64
3024 Cottage Dr	0.32mi	2/1.5	1,394 (+12%)	5mo	$195,000	$140	61
1809 Saint James Blvd	0.74mi	3/2.0 (+1)	1,216 (-2%)	4mo	$105,000	$86	52
3328 Oaklyn Dr	0.69mi	3/2.0 (+1)	1,244 (0%)	14mo	$239,900	$193	49
3219 Park Ridge Dr	0.72mi	3/2.5 (+1)	1,246 (+0%)	18mo	$179,000	$144	43
1914 N Thomas Ave	0.70mi	3/1.0 (+1)	1,093 (-12%)	0mo	$195,000	$178	40
3800 Deer Trl	0.71mi	3/2.5 (+1)	1,327 (+7%)	9mo	$210,000	$158	39
1917 N Ruston Ave	0.68mi	3/1.0 (+1)	1,061 (-15%)	2mo	$167,000	$157	35
3812 Deer Trl	0.73mi	3/1.0 (+1)	1,132 (-9%)	11mo	$220,000	$194	35
3313 Oaklyn Dr	0.64mi	3/2.0 (+1)	1,355 (+9%)	17mo	$205,000	$151	34
3804 Needle Pointe	0.74mi	3/2.0 (+1)	1,365 (+10%)	13mo	$229,992	$168	32

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: -2.1%
• Equity multiple: 0.92×
• Total profit: $-2,749
• Equity at exit: $17,877

10-year hold

• IRR: 11.4%
• Equity multiple: 2.05×
• Total profit: $35,136
• 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 47711

• Home prices YoY: -32.3%
• Rents YoY: 6.7%
• Active inventory: 229
• Price-to-rent: 7.6×

Monthly cashflow live

• Estimated rent: $1,308 high
• Mortgage (P&I): −$629
• Tax from tax record: −$173 /mo · $2,073/yr
• Insurance: −$50
• HOA: −$0
• Vacancy / Maint / Mgmt: −$275
• Net cashflow: $182

Break-even live

Break-even rent $1,078

Max offer price $119,900

Occupancy floor 81%

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 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3617 Harvard Ct Evansville, IN	3.0	2.0	1369	$1,700	$1.24	21d	1	0.67mi
3629 Mariner Dr Evansville, IN	3.0	2.0	1395	$1,895	$1.36	13d	1	0.87mi
2015 N Weinbach Ave Evansville, IN	2.0	2.0	1200	$1,200	$1.00	21d	1	0.89mi
4208 Spring Valley Rd Evansville, IN	3.0	2.5	1483	$1,800	$1.21	13d	1	1.01mi
2807 Ridgewood Dr Evansville, IN	2.0	1.0	1020	$1,075	$1.05	13d	1	1.16mi
4135 Highway 41 N Evansville, IN	3.0	2.0	1390	$1,600	$1.15	21d	1	1.36mi
913 N Spring St Evansville, IN	3.0	1.5	1232	$1,350	$1.10	13d	1	1.45mi
1219 Joan Ave Unit 1219 Evansville, IN	2.0	1.0	725	$845	$1.17	13d	1	1.50mi

Listing history 6 events

1. 2026-06-07
   statusdays on market $119,900 Pending 7 DOM
2. 2026-06-02
   days on market $119,900 Active 6 DOM
3. 2026-06-01
   days on market $119,900 Active 5 DOM
4. 2026-05-31
   days on market $119,900 Active 4 DOM
5. 2026-05-30
   days on market $119,900 Active 3 DOM
6. 2026-05-27
   listed $119,900 Active

ⓘ 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: $2,073 · $173/mo
• Projected year-2 tax: $2,073 · $173/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 1/10 Low FEMA zone X (unshaded) · 0% 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 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: $15,693
• − Mortgage interest: −$6,716
• − Property taxes: −$2,073
• − Insurance: −$600
• − Repairs & maintenance: −$1,255
• − Management: −$1,255
• − Depreciation: −$3,488
• Taxable income: $305
• Est. tax owed @ 24.0%: −$73
• After-tax cash flow: $2,106/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

1 event — show timeline

• 2026-05-27 Listed $119,900 IRMLS

Property tax history

+6.2%/yr

Latest (2024): $2,073 · -1.9% YoY. Source: county tax records.