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1037 E Blackford Ave
B Composite 71.27
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
  • DSCR +10.0/10.0
  • 1% rule +9.8/10.0
  • ARV discount +7.5/15.0
  • Rent growth +4.5/5.0
  • Schools +4.1/10.0
  • Livability +3.2/5.0
  • Condition / age +2.2/5.0
  • Appreciation +0.0/10.0

$78,000

1037 E Blackford Ave · Evansville, IN 47714
3 bd · 1.0 ba · 1,196 sqft · SingleFamily public records · 266 Days on market
Built 1938 Fair condition 6-car garage $65/sqft · 9% below area

🖨 Deal sheet (PDF) 📄 Offer letter ✓ Due diligence

Listing remarks

Spacious older home with a closed in porch, hardwood floors, large dinning room, fireplace, wood burning stove, butlers pantry, metal roof, new windows upstairs, bonus room plus and unfinished extra room used for storage p offering lots of potential!its livable with all kinds of room to add extra bathrooms, bedrooms, etc . Would be great for Airbnb or large or multi family& apos; s. Fenced in yard and new roof on detached garage. sold as is by home owner.

Key facts

  • Closed in porch
  • Large dinning room
  • Butlers pantry

Tags

CLOSED IN PORCHHARDWOOD FLOORSLARGE DINNING ROOMFIREPLACEWOOD BURNING STOVEBUTLERS PANTRY

Neighborhood map

Property Rental comp Retail Costco Walmart Transit Schools Stadiums Fortune 500 · Circle radius: 6.0 mi
Loading POIs…

What this means for you Summary

Snapshot

  • This is a 3-bed/1.0-bath single-family listed at $78k. Condition is rated fair.

Deal economics

  • At list price, monthly cash flow is $453 ($5k/yr) — positive.
  • The deal already cash-flows at list — no discount required.
  • Meets the 1% rule at list price ($1k rent vs $78k).
  • Recommended offer: $69k (12.0% below list) — sets the bar for market timing.
  • Cap rate 13.3% vs local median 4.5% 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: Evans School (math 9% / reading 7%, grade F, #945 of 994 statewide, top 95%, 499 students, 85% 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 54% FRL track the district average.
  • Market conditions: Rents rising fast (+7.9%/yr); 344 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals leasing fast (median 6d on market — plan ~1-2 weeks tenant-placement turnaround); 42% of comp listings sitting > 30 days — soft ceiling on asking rent; 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 $539 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
  • At projected returns (-3.0% appreciation + 7.9% rent growth), your $22k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

  • It's been on market 266 days — a 12% lower offer ($69k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

  • Watch-outs: built in 1938 — expect roof / HVAC / electrical / plumbing capex.
  • Climate carrying-cost: major flood risk; extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
Recommended offer $68,640 (12.0% below list)

Questions for the listing agent

  1. It's been on market 266 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
  2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
  3. Built in 1938 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
  4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
  5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
  6. 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?
  7. 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?
  8. 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.
  9. 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.
  10. 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
1.48%
Cap rate
13.27%
Cash-on-cash
24.91%
DSCR
2.11
GRM
5.6

CMA / ARV

ARV (median comp)
$171,642
List price
$78,000
Delta
-54.56%
Verdict
UNDERPRICED
Comps
20 within 1.0 mi
Show comp detail 12 sales within ~0.75 mi
Address Dist Beds/Ba Sqft Sold Price $/sf Match
752 S Englewood Ave 0.58mi 3/1.0 1,184 (-1%) 2mo $215,000 $182 69
640 Madison Ave 0.53mi 2/1.0 (-1) 1,254 (+5%) 1mo $62,917 $50 61
1425 Covert Ave 0.73mi 3/1.0 1,183 (-1%) 4mo $118,000 $100 61
1107 S Evans Ave 0.39mi 2/1.0 (-1) 1,096 (-8%) 4mo $100,000 $91 60
1117 Lodge Ave 0.42mi 2/1.0 (-1) 1,080 (-10%) 1mo $62,917 $58 58
1565 Lodge Ave 0.66mi 3/2.0 1,150 (-4%) 1mo $125,000 $109 58
1521 Ravenswood Dr 0.74mi 2/1.0 (-1) 1,152 (-4%) 1mo $62,917 $55 53
712 E Blackford Ave 0.46mi 2/1.0 (-1) 1,327 (+11%) 4mo $22,000 $17 52
1414 Marshall Ave 0.53mi 3/1.0 1,364 (+14%) 4mo $122,000 $89 48
1604 Jackson Ave 0.68mi 3/1.0 1,044 (-13%) 0mo $64,900 $62 47
713 S Runnymeade Ave 0.63mi 2/1.0 (-1) 1,056 (-12%) 4mo $153,500 $145 43
1659 S Evans Ave 0.74mi 2/2.0 (-1) 1,073 (-10%) 2mo $145,000 $135 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
23.3%
Equity multiple
2.01×
Total profit
$22,117
Equity at exit
$11,630
10-year hold
IRR
34.0%
Equity multiple
4.81×
Total profit
$83,132
Equity at exit
$6,744

Cash invested: $21,840 (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.
Buyer's market Market conditions within 1.0 mi — comparable homes for sale

Active competition Active MLS

For sale now
58 active · 43 under contract
Months of supply
6.6 mo (15%/mo absorbed)
Median asking
$95,000 ($86/sqft)
Median days on market
107 d
This list price
29% of active listings are priced below it
ARV vs active asking
+67.5% above current asking $/sqft

Closed sales set the value; these active listings set current market conditions and a practical price ceiling.

ZIP-level market 47714

Rents YoY
7.9%
Active inventory
344
Price-to-rent
5.6×

Monthly cashflow live

Estimated rent
$1,152 high interval (Pro) →
Mortgage (P&I)
$409
Tax from tax record
$15 /mo · $183/yr
Insurance
$32
HOA
$0
Vacancy / Maint / Mgmt
$242
Net cashflow
$453

Break-even live

Break-even rent $578
Max offer price $78,000
Occupancy floor 56%

Sensitivity live

Price -10% $498 -5% $476 +0% $453 +5% $431 +10% $409
Rent -10% $362 -5% $408 +0% $453 +5% $499 +10% $544
Rate -1.0pp $493 -0.5pp $473 base $453 +0.5pp $433 +1.0pp $413

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
$19,500
Closing costs
$2,340
Reserves months
Total cash needed

Loan-product check · same deal, 3 products live

Conventional

25% down · 7.5% · 30yr

Cash invested
Monthly P&I
Monthly cashflow
DSCR
Eligible?

Personal DTI + credit; lowest rate.

DSCR

20% down · 8.5% · 30yr

Cash invested
Monthly P&I
Monthly cashflow
DSCR
Eligible?

No personal income docs; deal must DSCR.

Hard money

10% down · 12.0% · 12mo

Cash invested
Monthly P&I
Monthly cashflow
DSCR
Eligible?

Short-term bridge; refi at stabilization.

Rent comps 40 comps

AddressBedsBaths SqftRent$/sqft DOM Units Dist
1104 Adams Ave Evansville, IN 4.0 1.0 1400 $1,250 $0.89 6d 1 0.14mi
1133 Bayard Park Dr Unit B Evansville, IN 2.0 1.0 990 $800 $0.81 116d 1 0.19mi
1133 Bayard Park Dr Apt A Evansville, IN 2.0 1.0 990 $795 $0.80 6d 1 0.19mi
1136 Jefferson Ave Evansville, IN 2.0 1.0 726 $895 $1.23 6d 1 0.23mi
1263 Washington Ave Evansville, IN 2.0 1.0 1269 $1,255 $0.99 6d 1 0.28mi
1127 Lincoln Ave Evansville, IN 2.0 1.5 1200 $750 $0.62 6d 3 0.37mi
829 Bellemeade Ave Evansville, IN 3.0 1.0 1012 $1,200 $1.19 6d 1 0.41mi
734 Bayard Park Dr Evansville, IN 3.0 2.0 1000 $1,425 $1.43 116d 1 0.45mi
1207 Lodge Ave Evansville, IN 2.0 1.0 752 $950 $1.26 6d 1 0.48mi
1500 S Harlan Ave Evansville, IN 2.0 1.0 712 $900 $1.26 109d 1 0.52mi
513 S Denby Ave Evansville, IN 4.0 2.0 1096 $1,495 $1.36 6d 1 0.59mi
638 Jackson Ave Evansville, IN 4.0 1.0 1176 $1,495 $1.27 116d 1 0.62mi
605 Madison Ave Evansville, IN 2.0 1.0 1069 $1,375 $1.29 116d 1 0.64mi
507 S Evans Ave Evansville, IN 2.0 1.0 750 $795 $1.06 116d 1 0.64mi
1527 Madison Ave Evansville, IN 3.0 1.0 720 $1,195 $1.66 6d 1 0.64mi
1505 Jackson Ave Evansville, IN 2.0 1.0 780 $995 $1.28 116d 1 0.65mi
304 S Grand Ave Evansville, IN 2.0 1.0 967 $955 $0.99 116d 1 0.73mi
931 Line St Evansville, IN 3.0 1.0 1008 $1,300 $1.29 4d 1 0.80mi
715 E Riverside Dr Evansville, IN 2.0 1.0 806 $895 $1.11 116d 1 0.84mi
1731 S Kerth Ave Evansville, IN 2.0 1.0 804 $895 $1.11 6d 1 0.84mi
1916 Washington Ave Evansville, IN 2.0 1.0 925 $775 $0.84 6d 1 0.85mi
201 S Willow Rd Evansville, IN 3.0 1.0 1064 $1,250 $1.17 6d 1 0.85mi
827 Judson St Evansville, IN 3.0 1.0 1008 $1,295 $1.28 109d 1 0.86mi
1414 E Sycamore St Evansville, IN 2.0 1.0 768 $850 $1.11 6d 1 0.90mi
1909 Taylor Ave Evansville, IN 2.0 1.0 700 $1,200 $1.71 109d 1 0.94mi
1101 S Lincoln Park Dr Evansville, IN 1.0–2.0 1.0 750 $1,100 $1.47 6d 5 0.97mi
957 S Spring St Evansville, IN 2.0 1.0 1144 $975 $0.85 6d 1 1.00mi
1303 E Indiana St Evansville, IN 2.0 1.0 975 $1,195 $1.23 109d 1 1.01mi
1321 E Indiana St Evansville, IN 2.0 1.0 964 $1,050 $1.09 109d 1 1.02mi
18 Washington Ave Evansville, IN 2.0–4.0 1.0–2.0 1084 $1,638 $1.51 6d 1 1.05mi
17 Washington Ave Evansville, IN 2.0–4.0 1.0–2.0 1084 $1,638 $1.51 6d 1 1.06mi
1415 E Indiana St Evansville, IN 2.0 1.0 814 $795 $0.98 109d 1 1.06mi
1329 E Illinois St Evansville, IN 2.0 1.0 995 $995 $1.00 6d 1 1.09mi
1407 Howard St Evansville, IN 2.0 1.0 800 $895 $1.12 6d 1 1.10mi
210 S Weinbach Ave Evansville, IN 3.0 1.0 1080 $1,450 $1.34 116d 1 1.19mi
2122 Ravenswood Dr Evansville, IN 3.0 2.0 1352 $1,395 $1.03 6d 1 1.22mi
1909 Plantation Ct Evansville, IN 2.0 1.0 780 $700 $0.90 116d 2 1.30mi
828 Sunset Ave Unit 862 Evansville, IN 3.0 2.0 1500 $1,600 $1.07 6d 1 1.33mi
761 E Iowa St Evansville, IN 3.0 1.0 1149 $1,100 $0.96 6d 1 1.33mi
1762 Spring Ct Evansville, IN 2.0 1.0 975 $1,450 $1.49 116d 1 1.34mi

Property features AI

Finance

Other
Additional details not provided
Financial info
Financial details not provided
HOA & community
HOA/community details not provided

Exterior

Parking
Attached or detached 6-car garage
Security
Security details not provided
Utilities
Utilities details not provided
Home design
Property type and stories not providedEntry level and facing direction not provided
Construction
Construction details not provided
Exterior features
Exterior details not provided

Interior

Kitchen
Kitchen details not provided
Bedrooms
Bedroom information not provided
Flooring
Flooring details not provided
Bathrooms
1 full bath1 half bath
Heating & cooling
Heating and cooling details not provided
Interior features
Main level living areas (details limited)
Laundry & utility
Laundry details not provided

Listing history 50 events

  1. 2026-09-05
    days on market $78,000 Active 266 DOM
  2. 2026-09-04
    days on market $78,000 Active 265 DOM
  3. 2026-09-03
    days on market $78,000 Active 264 DOM
  4. 2026-08-31
    days on market $78,000 Active 261 DOM
  5. 2026-08-30
    days on market $78,000 Active 260 DOM
  6. 2026-08-29
    days on market $78,000 Active 259 DOM
  7. 2026-08-28
    days on market $78,000 Active 258 DOM
  8. 2026-08-27
    days on market $78,000 Active 257 DOM
  9. 2026-08-26
    days on market $78,000 Active 256 DOM
  10. 2026-08-25
    days on market $78,000 Active 255 DOM
  11. 2026-08-24
    days on market $78,000 Active 254 DOM
  12. 2026-08-23
    days on market $78,000 Active 253 DOM
  13. 2026-08-22
    days on market $78,000 Active 252 DOM
  14. 2026-08-21
    days on market $78,000 Active 251 DOM
  15. 2026-08-20
    days on market $78,000 Active 250 DOM
  16. 2026-08-19
    days on market $78,000 Active 249 DOM
  17. 2026-08-18
    days on market $78,000 Active 248 DOM
  18. 2026-08-17
    days on market $78,000 Active 247 DOM
  19. 2026-08-16
    days on market $78,000 Active 246 DOM
  20. 2026-08-15
    days on market $78,000 Active 245 DOM
  21. 2026-08-14
    days on market $78,000 Active 244 DOM
  22. 2026-08-13
    days on market $78,000 Active 243 DOM
  23. 2026-08-12
    days on market $78,000 Active 242 DOM
  24. 2026-08-11
    days on market $78,000 Active 241 DOM
  25. 2026-08-10
    days on market $78,000 Active 240 DOM
  26. 2026-08-09
    days on market $78,000 Active 239 DOM
  27. 2026-08-08
    days on market $78,000 Active 238 DOM
  28. 2026-08-07
    days on market $78,000 Active 237 DOM
  29. 2026-08-06
    days on market $78,000 Active 236 DOM
  30. 2026-08-05
    days on market $78,000 Active 235 DOM
  31. 2026-08-04
    days on market $78,000 Active 234 DOM
  32. 2026-08-03
    days on market $78,000 Active 233 DOM
  33. 2026-07-31
    days on market $78,000 Active 230 DOM
  34. 2026-07-29
    days on market $78,000 Active 228 DOM
  35. 2026-07-27
    days on market $78,000 Active 226 DOM
  36. 2026-07-25
    days on market $78,000 Active 224 DOM
  37. 2026-07-24
    days on market $78,000 Active 223 DOM
  38. 2026-07-23
    days on market $78,000 Active 222 DOM
  39. 2026-07-22
    days on market $78,000 Active 221 DOM
  40. 2026-07-21
    days on market $78,000 Active 220 DOM
  41. 2026-07-18
    days on market $78,000 Active 217 DOM
  42. 2026-07-16
    days on market $78,000 Active 215 DOM
  43. 2026-07-16
    days on market $78,000 Active 214 DOM
  44. 2026-07-14
    days on market $78,000 Active 213 DOM
  45. 2026-07-13
    days on market $78,000 Active 212 DOM
  46. 2026-07-12
    days on market $78,000 Active 211 DOM
  47. 2026-07-10
    days on market $78,000 Active 209 DOM
  48. 2026-07-09
    days on market $78,000 Active 208 DOM
  49. 2026-07-08
    days on market $78,000 Active 207 DOM
  50. 2026-07-07
    days on market $78,000 Active 206 DOM

ⓘ 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
$183 · $15/mo
Projected year-2 tax
$423 · $35/mo
Expected delta
+$240/yr (+$20/mo · 130.8%)

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

Climate risk First Street

  • 🌊 Flood 6/10 Major FEMA zone X · 69% 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

Nearby sold comps map

Loading sold comps map…

Walkable amenities ~0.75 mi

Loading nearby amenities…

Taxation est. · year 1

Rental income
$13,827
− Mortgage interest
−$4,369
− Property taxes
−$183
− Insurance
−$390
− Repairs & maintenance
−$1,106
− Management
−$1,106
− Depreciation
−$2,269
Taxable income
$4,403
combined federal + state — saved on this device
Est. tax owed @ 24.0%
−$1,057
After-tax cash flow
$4,384/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 · 3 photos

Fair 45/100 Moderate rehab Est. rehab $29,900–$53,820 screening

The home requires significant repairs and maintenance, including a new roof, fencing repair, and landscaping. Painting and updating the interior can also improve its value.

Repairs flagged

  • Major fencing — Weathered and in need of repair.
  • Major roof — Aged and weathered, likely in need of replacement.
  • Major landscaping — Overgrown and in need of trimming and maintenance.

Value-add opportunities

  • Both painting — Fresh paint can improve curb appeal and interior aesthetics.
  • Both landscaping — Well-maintained landscaping can enhance curb appeal and property value.
  • Both roof replacement — A new roof will improve the home's structural integrity and increase its value.
  • Both fencing repair — A repaired fence will enhance the home's curb appeal and security.

ⓘ Rehab cost is a screening estimate — Moderate scope × the home's square footage at US $/sqft rules of thumb (the same model as the Flip Finder). Get contractor quotes + a written scope before underwriting.

F Composite school gradezoned avg 41/100

Zoned Schools

Elementary Evans School F IN #945/994 Nat'l #39,822/41,679 Middle North Junior High School C IN #43/330 Nat'l #3,367/14,009 High North High School B IN #29/369 Nat'l #2,744/17,239

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
C Composite livability gradescore 63/100

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 · 187,038 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
11% of renters

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

Price history

1 event — show timeline
  • 2025-12-09 Listed $78,000 Fizber.com

Property tax history

+1.4%/yr

Latest (2024): $183 · +5.7% YoY. Source: county tax records.

Cash-flow waterfall

monthly

Sold comps — $/sqft

last 12 mo · ≤1 mi

Loading sold comps…