1411 W Maryland St · Evansville, IN 47710

$179,900

3 bd · 3.0 ba · 2,982 sqft · MultiFamily public records · 42 Days on market

Built 1904 5,775 sqft lot Est $176k · at est.

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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 +27.9/30.0
• DSCR +9.9/10.0
• 1% rule +7.1/10.0
• ARV discount +6.5/15.0
• Schools +3.3/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 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 MLS

Attention Investors! Multi-Family duplex with central heat and air and detached 2 1/2 car garage. Both Unit A & B are currently rented for $700.00/mo. & $450.00/mo (Sec 8). Duplex to be sold in a package of 17 single family homes, two multi-family duplexes, and 4 vacant adjoining lots for off street parking for $950,000.00. All properties are currently rented. Properties include: 212 Leslie Ave, 1411 W Maryland St A & B, 1328 W Columbia St, 1324 W Columbia St A & B, 1322 W Columbia St, 407 E Delaware St, 620 E Delaware St, 624 E Delaware St, 611 E Virginia St, 1211 S Linwood Ave, 801 Monroe Ave, 1204 E Iowa St, 1205 E Iowa St, 16 E Missouri St, 525 S Kentucky Ave, 866 E Cherry St, 606 E Riverside Dr, 113 W Oregon St, and 1930 E Blackford Ave. Lots include: 1326 W Columbia St, 1320 W Columbia St, 1318 W Columbia, 1207 S Linwood Ave. There is no sign in the yard. Please do not disturb the tenants.

Key facts

• Fully remodeled
• Updated finishes
• Front porch

Tags

• DUPLEX INVESTMENT OPPORTUNITY
• FULLY REMODELED
• UPDATED FINISHES
• WASHER AND DRYER HOOKUPS
• ACCESS TO POLE BARN
• FRONT PORCH

Property features AI

Finance

• Other: Pets allowed

Exterior

• Parking: 2 open parking spaces
• Utilities: Public water; Public sewer
• Home design: Duplex residential income property; Single-story; Aluminum and vinyl siding
• Construction: Aluminum siding; Vinyl siding; Has basement (crawl space, partial, unfinished)
• Exterior features: Irregular lot

Interior

• Kitchen: Range; Refrigerator
• Flooring: Carpet; Vinyl
• Bathrooms: 3 full bathrooms
• Heating & cooling: Central air; Wall unit(s); Forced air heating
• Interior features: Range; Refrigerator
• Laundry & utility: Washer hookup; Has basement (crawl space, partial, unfinished)

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.5-bath units multifamily listed at $180k.

Deal economics

• At list price, monthly cash flow is $556 ($7k/yr) — positive. Per door: $278/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $180k).
• Recommended offer: $175k (3.0% below list) — sets the bar for market timing.
• Cap rate 10.0% 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: Cedar Hall Community School (math 13% / reading 19%, grade F, #854 of 994 statewide, top 86%, 509 students, 93% FRL); Central High School (math 38% / reading 74%, grade C, #73 of 369 statewide, top 20%, 1,090 students, 52% FRL) — zoned schools average 72% FRL vs 50% district-wide (23 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 88 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 508 units permitted in Vanderburgh County in 2024 (32 in 5+ unit buildings).
• At $2,171/mo this rent would consume 55% of the median local household income ($47k/yr) (locally 722% 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 $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $50k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 42 days — a 3% lower offer ($175k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 8y ago; this cycle's ask has dropped $10k (5%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1904 — 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 $174,503 (3.0% below list)

Questions for the listing agent

1. It's been on market 42 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1904 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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 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: 1.21% ✓
• Cap rate: 10.00%
• Cash-on-cash: 13.24%
• DSCR: 1.59
• GRM: 6.9

CMA / ARV

• ARV (on-the-fly): $175,938
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1916 W Michigan St	0.55mi	4/4.5 (+1)	2,882 (-3%)	12mo	$170,000	$59	48
1019/1021 W Michigan St	0.43mi	2/1.5 (-1)	2,823 (-5%)	21mo	$135,000	$48	42

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 3.2%
• Equity multiple: 1.12×
• Total profit: $6,236
• Equity at exit: $26,824

10-year hold

• IRR: 12.7%
• Equity multiple: 2.01×
• Total profit: $50,945
• Equity at exit: $15,554

Cash invested: $50,372 (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 47710

• Home prices YoY: -29.7%
• Active inventory: 88
• Price-to-rent: 13.8×

Monthly cashflow live

• Estimated rent: $2,171 high
• Mortgage (P&I): −$943
• Tax from tax record: −$141 /mo · $1,690/yr
• Insurance: −$75
• HOA: −$0
• Vacancy / Maint / Mgmt: −$456
• Net cashflow: $556

Break-even live

Break-even rent $1,467

Max offer price $179,900

Occupancy floor 69%

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1.5	$2,170
Total (2 units)			$2,171

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: $44,975
• Closing costs: $5,397
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1317 Harriet St Evansville, IN	3.0	2.0	2000	$995	$0.50	13d	1	0.89mi
27 W Franklin St Evansville, IN	4.0	2.5	2500	$1,100	$0.44	21d	1	1.16mi

Listing history 22 events

1. 2026-06-18
   days on market $179,900 Active 42 DOM
2. 2026-06-17
   days on market $179,900 Active 41 DOM
3. 2026-06-16
   days on market $179,900 Active 40 DOM
4. 2026-06-15
   days on market $179,900 Active 39 DOM
5. 2026-06-14
   days on market $179,900 Active 37 DOM
6. 2026-06-13
   days on market $179,900 Active 36 DOM
7. 2026-06-10
   days on market $179,900 Active 34 DOM
8. 2026-06-09
   days on market $179,900 Active 33 DOM
9. 2026-06-08
   days on market $179,900 Active 32 DOM
10. 2026-06-07
    pricedays on market $179,900 Active 31 DOM
11. 2026-06-02
    days on market $184,900 Active 26 DOM
12. 2026-06-01
    days on market $184,900 Active 25 DOM
13. 2026-05-31
    days on market $184,900 Active 24 DOM
14. 2026-05-30
    days on market $184,900 Active 23 DOM
15. 2026-05-21
    price $184,900
16. 2026-05-07
    listed $189,900 Active
17. 2024-12-18
    status Active
18. 2024-10-22
    price $55,000
19. 2024-08-21
    price $64,000
20. 2024-04-03
    listed $69,000 Active
21. 2018-08-31
    soldstatus 933-char remark

    Show marketing remark (933 chars)

    Attention Investors! Multi-Family duplex with central heat and air and detached 2 1/2 car garage. Both Unit A & B are currently rented for $700.00/mo. & $450.00/mo (Sec 8). Duplex to be sold in a package of 17 single family homes, two multi-family duplexes, and 4 vacant adjoining lots for off street parking for $950,000.00. All properties are currently rented. Properties include: 212 Leslie Ave, 1411 W Maryland St A & B, 1328 W Columbia St, 1324 W Columbia St A & B, 1322 W Columbia St, 407 E Delaware St, 620 E Delaware St, 624 E Delaware St, 611 E Virginia St, 1211 S Linwood Ave, 801 Monroe Ave, 1204 E Iowa St, 1205 E Iowa St, 16 E Missouri St, 525 S Kentucky Ave, 866 E Cherry St, 606 E Riverside Dr, 113 W Oregon St, and 1930 E Blackford Ave. Lots include: 1326 W Columbia St, 1320 W Columbia St, 1318 W Columbia, 1207 S Linwood Ave. There is no sign in the yard. Please do not disturb the tenants.

22. 2018-02-09
    listed $58,900 933-char remark

    Show marketing remark (933 chars)

    Attention Investors! Multi-Family duplex with central heat and air and detached 2 1/2 car garage. Both Unit A & B are currently rented for $700.00/mo. & $450.00/mo (Sec 8). Duplex to be sold in a package of 17 single family homes, two multi-family duplexes, and 4 vacant adjoining lots for off street parking for $950,000.00. All properties are currently rented. Properties include: 212 Leslie Ave, 1411 W Maryland St A & B, 1328 W Columbia St, 1324 W Columbia St A & B, 1322 W Columbia St, 407 E Delaware St, 620 E Delaware St, 624 E Delaware St, 611 E Virginia St, 1211 S Linwood Ave, 801 Monroe Ave, 1204 E Iowa St, 1205 E Iowa St, 16 E Missouri St, 525 S Kentucky Ave, 866 E Cherry St, 606 E Riverside Dr, 113 W Oregon St, and 1930 E Blackford Ave. Lots include: 1326 W Columbia St, 1320 W Columbia St, 1318 W Columbia, 1207 S Linwood Ave. There is no sign in the yard. Please do not disturb the tenants.

ⓘ 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: $1,690 · $141/mo
• Projected year-2 tax: $1,690 · $141/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 4/10 Moderate 3 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $26,052
• − Mortgage interest: −$10,077
• − Property taxes: −$1,690
• − Insurance: −$900
• − Repairs & maintenance: −$2,084
• − Management: −$2,084
• − Depreciation: −$5,233
• Taxable income: $3,984
• Est. tax owed @ 24.0%: −$956
• After-tax cash flow: $5,715/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): 18,309
• Household income: $47,292
• Rent vs Own: 46.6% rent · 53.4% own
• Severe rent burden: 722.0

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 (83%)
• Race & ethnicity: White 83% Two or more races 7% Black 6% Hispanic / Latino 4%
• Common ancestry: Scotch-Irish 2% Lithuanian 1% Slovak 1%
• Foreign-born: 2% · Canada, China
• Languages at home: 97% English-only · Spanish 3%

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: ▼ -91.84%
• Current HPI: 217.586
• Rent YoY: —
• 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

+213.9% since first listed

8 events — show timeline

• 2026-05-21 Price Changed $184,900 IRMLS
• 2026-05-07 Listed $189,900 IRMLS
• 2024-12-18 Relisted — IRMLS
• 2024-10-22 Price Changed $55,000 IRMLS
• 2024-08-21 Price Changed $64,000 IRMLS
• 2024-04-03 Listed $69,000 IRMLS
• 2018-08-31 Sold (MLS) — IRMLS
• 2018-02-09 Listed $58,900 IRMLS

Property tax history

+10.9%/yr

Latest (2024): $1,690 · +2.6% YoY. Source: county tax records.