1217 1219 Corregidor Cir · Evansville, IN 47714

$130,000

4 bd · 2.0 ba · 2,232 sqft · MultiFamily · 1 Days on market

Built 1943 Good condition 6,440 sqft lot Est $132k · at est.

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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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +8.1/15.0
• Rent growth +4.5/5.0
• Condition / age +3.8/5.0
• Schools +3.3/10.0
• Livability +3.2/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks

Very well maintained duplex with established tenants! Step right into this prime investment property that has 2 units, a transferable warranty on the HVAC until 2028, a home warranty that transfers, a new roof and gutter guards in 2017, regular maintenance, established tenants, and pride of ownership! Fenced yards, washer and dryer in each unit, sturdy kitchen cabinetry, real wood floors, basements that are being used as bonus space! Add this to your investment portfolio today!

Key facts

• Washer and dryer
• Fenced yards
• Real wood floors

Tags

• TRANSFERABLE WARRANTY
• NEW ROOF
• FENCED YARDS
• WASHER AND DRYER
• STURDY KITCHEN CABINETRY
• REAL WOOD FLOORS

Property features AI

Finance

• Other: Pets allowed with breed restrictions; Zoning: R-2 Two-Family Residence

Exterior

• Parking: Off-street parking; 4 open parking spaces
• Utilities: Public water; Public sewer
• Home design: Duplex (residential income); 2 stories; Vinyl siding
• Construction: Asphalt roof; Vinyl siding construction; Home warranty included
• Exterior features: Chain-link fencing; Level lot

Interior

• Kitchen: Range; Refrigerator
• Flooring: Vinyl
• Bathrooms: One full bathroom; Two main-level bathrooms
• Heating & cooling: Central air conditioning; Forced air heating; Natural gas heating
• Interior features: Eat-in kitchen; Full basement
• Laundry & utility: Washer hookup; Washer; Dryer

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $130k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $921 ($11k/yr) — positive. Per door: $460/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $130k).
• Cap rate 14.8% 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: Harper Elementary School (math 32% / reading 27%, grade F, #697 of 994 statewide, top 73%, 337 students, 74% FRL); Washington Middle School (math 14% / reading 24%, grade F, #274 of 330 statewide, top 83%, 353 students, 70% FRL) — zoned schools average 72% FRL vs 50% district-wide (22 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 24% at this address vs 40% district-wide (-15 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; 3 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).
• At $2,303/mo this rent would consume 49% of the median local household income ($56k/yr) (locally 1394% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $899 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 7.9% rent growth), your $36k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1943 — 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 $130,000

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1943 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.77% ✓
• Cap rate: 14.79%
• Cash-on-cash: 30.36%
• DSCR: 2.35
• GRM: 4.7

CMA / ARV

• ARV (on-the-fly): $131,688
• Comps found: 3

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1000 Corregidor Cir	0.12mi	4/2.0	2,232 (0%)	11mo	$140,000	$63	85
2513 2515 Adams Ave	0.07mi	4/2.0	2,232 (0%)	17mo	$131,000	$59	82
1210 1212 Corregidor Cir	0.04mi	4/2.5	2,324 (+4%)	9mo	$90,000	$39	82

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: 30.4%
• Equity multiple: 2.36×
• Total profit: $49,440
• Equity at exit: $19,383

10-year hold

• IRR: 40.3%
• Equity multiple: 5.73×
• Total profit: $172,333
• Equity at exit: $11,240

Cash invested: $36,400 (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: 9.4×

Monthly cashflow live

• Estimated rent: $2,303 high
• Mortgage (P&I): −$682
• Tax est. 1.5%: −$162 /mo · $1,950/yr
• Insurance: −$54
• HOA: −$0
• Vacancy / Maint / Mgmt: −$484
• Net cashflow: $921

Break-even live

Break-even rent $1,137

Max offer price $130,000

Occupancy floor 55%

Sensitivity live

Price	-10% $1,011	-5% $966	+0% $921	+5% $876	+10% $831
Rent	-10% $739	-5% $830	+0% $921	+5% $1,012	+10% $1,103
Rate	-1.0pp $986	-0.5pp $954	base $921	+0.5pp $887	+1.0pp $853

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,302
Total (2 units)			$2,303

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: $32,500
• Closing costs: $3,900
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2001 S Taft Ave Evansville, IN	3.0	2.0	1472	$1,000	$0.68	21d	1	0.78mi
1952 Colts Ln Evansville, IN	1.0–3.0	1.0	1146	$1,275	$1.11	21d	8	1.01mi
1213 Washington Ave Evansville, IN	4.0	1.0	1984	$1,595	$0.80	21d	1	1.34mi

Listing history 3 events

1. 2026-06-18
   status $130,000 Pending 1 DOM
2. 2026-06-17
   remarks 482-char remark
3. 2026-06-17
   listed $130,000 Active 1 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (shaded) · 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 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: $27,636
• − Mortgage interest: −$7,282
• − Property taxes: −$1,950
• − Insurance: −$650
• − Repairs & maintenance: −$2,211
• − Management: −$2,211
• − Depreciation: −$3,782
• Taxable income: $9,550
• Est. tax owed @ 24.0%: −$2,292
• After-tax cash flow: $8,760/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.

Condition & rehab AI · 12 photos

Good 75/100 Cosmetic rehab

This well-maintained duplex is in good condition with established tenants and a transferable warranty on the HVAC. It offers a good investment opportunity with potential for value-add improvements.

Value-add opportunities

• Both Painting interior walls — Fresh paint can enhance the home's curb appeal and interior aesthetics
• Both Upgrading kitchen appliances — Modern appliances can attract more tenants and buyers
• Both Landscaping improvements — A well-maintained yard can increase the home's appeal and value

Renovation cost estimate screening

Value-add ROI direction

• Both Painting interior walls — Fresh paint can enhance the home's curb appeal and interior aesthetics ↑
• Both Upgrading kitchen appliances — Modern appliances can attract more tenants and buyers ↑
• Both Landscaping improvements — A well-maintained yard can increase the home's appeal and value ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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

1 event — show timeline

• 2026-06-17 Listed $130,000 IRMLS