425 S Kentucky Ave · Evansville, IN 47714

$99,900

2 bd · 1.0 ba · 1,164 sqft · SingleFamily public records · 62 Days on market

Built 1919 6,098 sqft lot Est $128k · 22% under ↓ 9% since listing

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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 +25.4/30.0
• ARV discount +15.0/15.0
• DSCR +8.4/10.0
• 1% rule +5.7/10.0
• 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

This 2 bed, 1 bath home offers a covered front porch and large backyard. This floor plan includes a spacious living room, perfect for gathering. The living room leads to the kitchen, which includes an abundance of cabinetry. There are 2 bedrooms with access to the updated full bath with tub/shower combo. There is also an unfinished basement area. The large backyard is perfect for relaxing and outdoor enjoyment. This great home offers off street parking in a great location, close to shopping and dining. Home is currently tenant occupied, no longer vacant.

Key facts

• Covered front porch
• Off street parking
• Updated full bath

Tags

• COVERED FRONT PORCH
• LARGE BACKYARD
• SPACIOUS LIVING ROOM
• ABUNDANCE OF CABINETRY
• UPDATED FULL BATH
• OFF STREET PARKING

Property features AI

Exterior

• Utilities: Public water; Public sewer
• Home design: Single-family residence, site-built; One story
• Construction: Aluminum siding
• Exterior features: Lot approximately 37 x 170 (0.14 acre)

Interior

• Kitchen: Electric range; Refrigerator
• Bedrooms: Total rooms: 5
• Bathrooms: 1 full bathroom (main level)
• Heating & cooling: Natural gas forced-air heating; No cooling
• Interior features: Refrigerator; Electric range; Partial, unfinished basement; Lower level laundry
• Laundry & utility: Laundry located on lower level

🏷️ Possibly a rental listed for sale. The $99,900 price doesn't fit this home's estimated sale value (~$128,040) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $100k.

Deal economics

• At list price, monthly cash flow is $230 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $100k).
• Recommended offer: $94k (6.0% 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: Caze Elementary School (math 17% / reading 17%, grade F, #837 of 994 statewide, top 86%, 393 students, 79% 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 73% FRL vs 50% district-wide (23 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 23% at this address vs 40% district-wide (-16 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; 35 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 $691 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 $28k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 62 days — a 6% lower offer ($94k) is reasonable based on typical stale-listing flexibility.

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 $93,906 (6.0% below list)

Questions for the listing agent

1. It's been on market 62 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 1919 — 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: 1.07% ✓
• Cap rate: 9.05%
• Cash-on-cash: 9.85%
• DSCR: 1.44
• GRM: 7.8

CMA / ARV

• ARV (on-the-fly): $128,040
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
868 Bellemeade Ave	0.29mi	2/1.0	1,232 (+6%)	5mo	$150,000	$122	73
211 S Bedford Ave	0.21mi	3/1.0 (+1)	1,246 (+7%)	1mo	$136,500	$110	72
1108 E Blackford Ave	0.62mi	2/1.0	1,176 (+1%)	3mo	$48,500	$41	66
503 S Grand Ave	0.10mi	2/1.0	1,000 (-14%)	7mo	$60,000	$60	66
628 S Harlan Ave	0.43mi	2/1.0	1,092 (-6%)	6mo	$141,000	$129	65
416 S Garvin St	0.47mi	2/1.0	1,024 (-12%)	3mo	$38,750	$38	56
201 S Willow Rd	0.49mi	3/1.0 (+1)	1,064 (-9%)	3mo	$67,000	$63	55
1409 E Walnut St	0.50mi	2/2.0	1,022 (-12%)	2mo	$155,000	$152	50
1451 Bellemeade Ave	0.62mi	2/1.0	1,016 (-13%)	2mo	$215,000	$212	48
424 S Linwood Ave	0.30mi	3/2.0 (+1)	990 (-15%)	5mo	$155,000	$157	48
712 E Blackford Ave	0.69mi	2/1.0	1,327 (+14%)	1mo	$22,000	$17	44
717 E Blackford Ave	0.71mi	3/1.0 (+1)	1,303 (+12%)	5mo	$29,250	$22	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: 3.5%
• Equity multiple: 1.14×
• Total profit: $3,907
• Equity at exit: $14,895

10-year hold

• IRR: 16.9%
• Equity multiple: 2.68×
• Total profit: $47,057
• Equity at exit: $8,638

Cash invested: $27,972 (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: 7.8×

Monthly cashflow live

• Estimated rent: $1,071 high
• Mortgage (P&I): −$524
• Tax from tax record: −$51 /mo · $613/yr
• Insurance: −$42
• HOA: −$0
• Vacancy / Maint / Mgmt: −$225
• Net cashflow: $230

Break-even live

Break-even rent $780

Max offer price $99,900

Occupancy floor 74%

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: $24,975
• Closing costs: $2,997
• Reserves months: —
• Total cash needed: —

Rent comps 35 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
304 S Grand Ave Evansville, IN	2.0	1.0	967	$955	$0.99	21d	1	0.11mi
507 S Evans Ave Evansville, IN	2.0	1.0	750	$795	$1.06	21d	1	0.28mi
734 Bayard Park Dr Evansville, IN	3.0	2.0	1000	$1,425	$1.43	21d	1	0.52mi
1133 Bayard Park Dr Unit B Evansville, IN	2.0	1.0	990	$800	$0.81	21d	1	0.52mi
1303 E Indiana St Evansville, IN	2.0	1.0	975	$1,195	$1.23	14d	1	0.54mi
1321 E Indiana St Evansville, IN	2.0	1.0	964	$1,050	$1.09	14d	1	0.56mi
1415 E Indiana St Evansville, IN	2.0	1.0	814	$795	$0.98	14d	1	0.66mi
1021 Jefferson Ave Evansville, IN	1.0	1.0	798	$795	$1.00	14d	1	0.83mi
827 Judson St Evansville, IN	3.0	1.0	1008	$1,295	$1.28	14d	1	0.93mi
605 Madison Ave Evansville, IN	2.0	1.0	1069	$1,375	$1.29	21d	1	1.00mi
41 W Division St Apt 200 Evansville, IN	2.0	2.0	1083	$1,500	$1.39	21d	1	1.02mi
200 N Main St Evansville, IN	2.0	1.0–2.0	857	$1,599	$1.86	14d	7	1.03mi
210 S Weinbach Ave Evansville, IN	3.0	1.0	1080	$1,450	$1.34	21d	1	1.04mi
924 SE 6th St Unit A Evansville, IN	1.0	1.0	800	$875	$1.09	21d	1	1.06mi
610 N Main St Evansville, IN	2.0	1.0	751	$675	$0.90	21d	1	1.13mi
1500 S Harlan Ave Evansville, IN	2.0	1.0	712	$900	$1.26	14d	1	1.14mi
8 E Blackford Ave Evansville, IN	1.0	1.0	750	$825	$1.10	21d	1	1.14mi
17 Washington Ave Evansville, IN	2.0	1.0	882	$1,455	$1.65	21d	1	1.18mi
24 NW 6th St Apt 103 Evansville, IN	1.0	1.0	706	$1,300	$1.84	21d	1	1.19mi
615 SE 3rd St Unit D Evansville, IN	1.0	1.0	1122	$895	$0.80	21d	1	1.20mi
1505 Jackson Ave Evansville, IN	2.0	1.0	780	$995	$1.28	21d	1	1.20mi
706 Court St Evansville, IN	2.0	1.5	1100	$850	$0.77	21d	1	1.21mi
313 NW Martin Luther King Junior Blvd Unit 311 Evansville, IN	2.0	1.0	1200	$950	$0.79	21d	1	1.22mi
329 Main St Evansville, IN	1.0–2.0	1.0–2.0	717	$1,505	$2.10	14d	1	1.26mi
300 Main St Unit 1 D3 Evansville, IN	1.0	1.0	800	$2,000	$2.50	21d	1	1.32mi
1421 SE 2nd St Unit A Evansville, IN	1.0	1.0	800	$695	$0.87	14d	1	1.35mi
322 SE 1st St Evansville, IN	1.0–2.0	1.0	1100	$1,700	$1.55	21d	6	1.35mi
400 NW 5th St Unit 4 Evansville, IN	2.0	1.0	792	$725	$0.92	21d	1	1.37mi
715 E Riverside Dr Evansville, IN	2.0	1.0	806	$895	$1.11	21d	1	1.37mi
315 SE 1st St Evansville, IN	1.0	1.0	1331	$1,695	$1.27	21d	1	1.38mi
202 SE 1st St Evansville, IN	1.0–2.0	1.0	926	$2,449	$2.64	21d	4	1.38mi
1018 Baker Ave Unit B Evansville, IN	1.0	1.0	800	$625	$0.78	21d	1	1.39mi
100 SE 1st St Evansville, IN	1.0–2.0	1.0–2.0	715	$1,725	$2.41	14d	17	1.41mi
1909 Taylor Ave Evansville, IN	2.0	1.0	700	$1,200	$1.71	14d	1	1.42mi
913 N Spring St Evansville, IN	3.0	1.5	1232	$1,350	$1.10	14d	1	1.46mi

Listing history 16 events

1. 2026-06-18
   days on market $99,900 Active 62 DOM
2. 2026-06-17
   days on market $99,900 Active 61 DOM
3. 2026-06-16
   days on market $99,900 Active 60 DOM
4. 2026-06-15
   days on market $99,900 Active 59 DOM
5. 2026-06-14
   days on market $99,900 Active 57 DOM
6. 2026-06-13
   days on market $99,900 Active 56 DOM
7. 2026-06-10
   days on market $99,900 Active 54 DOM
8. 2026-06-09
   days on market $99,900 Active 53 DOM
9. 2026-06-08
   days on market $99,900 Active 52 DOM
10. 2026-06-07
    pricedays on market $99,900 Active 51 DOM
11. 2026-06-02
    days on market $104,900 Active 46 DOM
12. 2026-06-01
    days on market $104,900 Active 45 DOM
13. 2026-05-31
    days on market $104,900 Active 44 DOM
14. 2026-05-30
    days on market $104,900 Active 43 DOM
15. 2026-05-19
    price $104,900
16. 2026-04-17
    listed $114,900 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: $613 · $51/mo
• Projected year-2 tax: $731 · $61/mo
• Expected delta: +$118/yr (+$10/mo · 19.3%)

ⓘ 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 (unshaded) · 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: $12,855
• − Mortgage interest: −$5,596
• − Property taxes: −$613
• − Insurance: −$500
• − Repairs & maintenance: −$1,028
• − Management: −$1,028
• − Depreciation: −$2,906
• Taxable income: $1,184
• Est. tax owed @ 24.0%: −$284
• After-tax cash flow: $2,472/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

-8.7% since first listed

2 events — show timeline

• 2026-05-19 Price Changed $104,900 IRMLS
• 2026-04-17 Listed $114,900 IRMLS

Property tax history

+0.6%/yr

Latest (2024): $613 · +2.6% YoY. Source: county tax records.