1037 E Blackford Ave · Evansville, IN 47714

$78,000

3 bd · 1.0 ba · 1,196 sqft · SingleFamily public records · 187 Days on market

Built 1938 Est $120k · 35% 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 +30.0/30.0
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• 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

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. Make offer

Key facts

• Closed in porch
• Large dinning room
• Butlers pantry

Tags

• CLOSED IN PORCH
• HARDWOOD FLOORS
• LARGE DINNING ROOM
• FIREPLACE
• WOOD BURNING STOVE
• BUTLERS PANTRY

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 provided; Entry 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 bath; 1 half bath
• Heating & cooling: Heating and cooling details not provided
• Interior features: Main level living areas (details limited)
• Laundry & utility: Laundry details not provided

What this means for you Summary

Snapshot

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

Deal economics

• At list price, monthly cash flow is $481 ($6k/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 13.7% 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: schools D+, crime F, commute F.
• 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.
• Market conditions: Rents rising fast (+7.9%/yr); 188 active listings in the ZIP; 26 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 $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 ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 187 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 187 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1938 — 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: 1.52% ✓
• Cap rate: 13.69%
• Cash-on-cash: 26.42%
• DSCR: 2.18
• GRM: 5.5

CMA / ARV

• ARV (on-the-fly): $119,600
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1108 E Blackford Ave	0.06mi	2/1.0 (-1)	1,176 (-2%)	3mo	$48,500	$41	87
1425 Covert Ave	0.73mi	3/1.0	1,183 (-1%)	1mo	$118,000	$100	63
1107 S Evans Ave	0.39mi	2/1.0 (-1)	1,096 (-8%)	0mo	$100,000	$91	62
1101 Ravenswood Dr	0.51mi	2/1.0 (-1)	1,269 (+6%)	1mo	$155,000	$122	60
1114 S Englewood Ave	0.61mi	3/1.0	1,108 (-7%)	1mo	$154,000	$139	58
712 E Blackford Ave	0.46mi	2/1.0 (-1)	1,327 (+11%)	1mo	$22,000	$17	55
1059 Waggoner Ave	0.65mi	2/2.0 (-1)	1,150 (-4%)	1mo	$125,000	$109	53
1414 Marshall Ave	0.53mi	3/1.0	1,364 (+14%)	1mo	$122,000	$89	51
513 S Denby Ave	0.62mi	4/1.0 (+1)	1,096 (-8%)	2mo	$54,000	$49	50
1563 Marshall Ave	0.62mi	3/1.5	1,338 (+12%)	3mo	$83,000	$62	47
713 S Runnymeade Ave	0.63mi	2/1.0 (-1)	1,056 (-12%)	1mo	$153,500	$145	46
1451 Bellemeade Ave	0.52mi	2/1.0 (-1)	1,016 (-15%)	2mo	$215,000	$212	44

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: 25.2%
• Equity multiple: 2.10×
• Total profit: $24,047
• Equity at exit: $11,630

10-year hold

• IRR: 35.6%
• Equity multiple: 5.02×
• Total profit: $87,880
• 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.

Methodology + full state rankings →

ZIP-level market 47714

• Rents YoY: 7.9%
• Active inventory: 188
• Price-to-rent: 5.5×

Monthly cashflow live

• Estimated rent: $1,187 high
• Mortgage (P&I): −$409
• Tax from tax record: −$15 /mo · $183/yr
• Insurance: −$32
• HOA: −$0
• Vacancy / Maint / Mgmt: −$249
• Net cashflow: $481

Break-even live

Break-even rent $578

Max offer price $78,000

Occupancy floor 54%

Sensitivity live

Price	-10% $525	-5% $503	+0% $481	+5% $459	+10% $437
Rent	-10% $387	-5% $434	+0% $481	+5% $528	+10% $575
Rate	-1.0pp $520	-0.5pp $501	base $481	+0.5pp $461	+1.0pp $440

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: —

Rent comps 26 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1133 Bayard Park Dr Unit B Evansville, IN	2.0	1.0	990	$800	$0.81	22d	1	0.19mi
734 Bayard Park Dr Evansville, IN	3.0	2.0	1000	$1,425	$1.43	22d	1	0.45mi
1500 S Harlan Ave Evansville, IN	2.0	1.0	712	$900	$1.26	14d	1	0.52mi
638 Jackson Ave Evansville, IN	4.0	1.0	1176	$1,495	$1.27	22d	1	0.62mi
605 Madison Ave Evansville, IN	2.0	1.0	1069	$1,375	$1.29	22d	1	0.64mi
507 S Evans Ave Evansville, IN	2.0	1.0	750	$795	$1.06	22d	1	0.64mi
1505 Jackson Ave Evansville, IN	2.0	1.0	780	$995	$1.28	22d	1	0.65mi
304 S Grand Ave Evansville, IN	2.0	1.0	967	$955	$0.99	22d	1	0.73mi
715 E Riverside Dr Evansville, IN	2.0	1.0	806	$895	$1.11	22d	1	0.84mi
827 Judson St Evansville, IN	3.0	1.0	1008	$1,295	$1.28	14d	1	0.86mi
1909 Taylor Ave Evansville, IN	2.0	1.0	700	$1,200	$1.71	14d	1	0.94mi
1303 E Indiana St Evansville, IN	2.0	1.0	975	$1,195	$1.23	14d	1	1.01mi
1321 E Indiana St Evansville, IN	2.0	1.0	964	$1,050	$1.09	14d	1	1.02mi
17 Washington Ave Evansville, IN	2.0	1.0	882	$1,455	$1.65	22d	1	1.06mi
1415 E Indiana St Evansville, IN	2.0	1.0	814	$795	$0.98	14d	1	1.06mi
210 S Weinbach Ave Evansville, IN	3.0	1.0	1080	$1,450	$1.34	22d	1	1.19mi
1909 Plantation Ct Evansville, IN	2.0	1.0	780	$700	$0.90	22d	2	1.30mi
1762 Spring Ct Evansville, IN	2.0	1.0	975	$1,450	$1.49	22d	1	1.34mi
1952 Colts Ln Evansville, IN	1.0–3.0	1.0	1146	$1,275	$1.11	22d	8	1.35mi
322 SE 1st St Evansville, IN	1.0–2.0	1.0	1100	$1,700	$1.55	22d	6	1.41mi
41 W Division St Apt 200 Evansville, IN	2.0	2.0	1083	$1,500	$1.39	22d	1	1.44mi
329 Main St Evansville, IN	1.0–2.0	1.0–2.0	717	$1,505	$2.10	14d	1	1.45mi
202 SE 1st St Evansville, IN	1.0–2.0	1.0	926	$2,449	$2.64	22d	4	1.48mi
200 N Main St Evansville, IN	2.0	1.0–2.0	857	$1,599	$1.86	14d	7	1.50mi
2340 Sunburst Blvd Unit 2270-318 Evansville, IN	2.0	1.0	815	$900	$1.10	22d	1	1.50mi
2340 Sunburst Blvd Unit 2200-202 Evansville, IN	3.0	1.0	973	$1,050	$1.08	22d	1	1.50mi

Listing history 15 events

1. 2026-06-18
   days on market $78,000 Active 187 DOM
2. 2026-06-17
   days on market $78,000 Active 186 DOM
3. 2026-06-16
   days on market $78,000 Active 185 DOM
4. 2026-06-15
   days on market $78,000 Active 184 DOM
5. 2026-06-14
   days on market $78,000 Active 182 DOM
6. 2026-06-13
   days on market $78,000 Active 181 DOM
7. 2026-06-10
   days on market $78,000 Active 179 DOM
8. 2026-06-09
   days on market $78,000 Active 178 DOM
9. 2026-06-08
   days on market $78,000 Active 177 DOM
10. 2026-06-07
    days on market $78,000 Active 176 DOM
11. 2026-06-02
    days on market $78,000 Active 171 DOM
12. 2026-06-01
    days on market $78,000 Active 170 DOM
13. 2026-05-31
    days on market $78,000 Active 169 DOM
14. 2026-05-30
    days on market $78,000 Active 168 DOM
15. 2025-12-09
    listed $78,000 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: $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

Taxation est. · year 1

• Rental income: $14,244
• − Mortgage interest: −$4,369
• − Property taxes: −$183
• − Insurance: −$390
• − Repairs & maintenance: −$1,140
• − Management: −$1,140
• − Depreciation: −$2,269
• Taxable income: $4,753
• Est. tax owed @ 24.0%: −$1,141
• After-tax cash flow: $4,630/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

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.