823 E Chandler Ave · Evansville, IN 47713

$75,000

3 bd · 1.5 ba · 2,162 sqft · SingleFamily public records · 7 Days on market

Built 1919 5,837 sqft lot

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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 +7.5/15.0
• Rent growth +5.0/5.0
• Schools +3.3/10.0
• Livability +3.2/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Traditional style 2 story home located across from Bayard Park Library and park. Large covered front porch. Entry opens to a large Living room with gas log fireplace. Huge Dining room for family gatherings. Large eat-in Kitchen includes range-oven and refrigerator. Front staircase from the Entry or back staircase from the Kitchen leads to the 2nd floor. The 2nd floor has 3 large bedrooms and built-in drawers in the extra wide hallway. Ceramic full bath and a small sun porch, currently used as an office, complete the 2nd floor. Full stairs to a walk-up attic provides great storage space. Privacy fenced back yard. Detached garage with garage openers. Seller is providing a 1 year warranty for the buyers. Shared driveway off of Chandler Ave. however, owner uses drive off of the alley to access the garage. Home being sold in "As is" condition.

Key facts

• Wainscotting
• Formal foyer
• Gas log fireplace

Tags

• FORMAL FOYER
• SERVANT'S STAIRCASE
• HARDWOOD FLOORS
• GAS LOG FIREPLACE
• KNOTTY PINE SHELVING
• WAINSCOTTING

Property features AI

Finance

• HOA & community: Community playground; Sidewalks

Exterior

• Parking: Detached garage; Approximately 2.5 garage spaces; Garage door opener; Gravel and concrete surfaces; Off-street parking
• Utilities: Public water; Public sewer; Cable available
• Home design: Single family residence (site-built); 2 stories
• Construction: Cedar and wood siding exterior; Slab and brick/mortar foundation
• Exterior features: Partial privacy fencing; Rolled/hot mop and asphalt roofs; Level lot; Paved public-maintained road; Lot dimensions 42 x 139; Zoned R-1 One-Family Residence

Interior

• Kitchen: Electric oven; Electric range
• Flooring: Hardwood; Carpet; Vinyl
• Bathrooms: 1 full bathroom; 1 half bathroom; 1 main-level bathroom
• Heating & cooling: Natural gas heating; Forced air; Floor furnace; Central air (ENERGY STAR qualified equipment)
• Interior features: Entrance foyer; Natural woodwork; Laminate counters; Gas log fireplace in living room
• Laundry & utility: Electric dryer hookup on main level; Gas water heater; Water heater

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $75k.

Deal economics

• At list price, monthly cash flow is $469 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $75k).
• Cap rate 13.8% 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: Lincoln School (math 12% / reading 17%, grade F, #862 of 994 statewide, top 88%, 236 students, 88% FRL) — zoned schools average 88% FRL vs 50% district-wide (38 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 14% at this address vs 40% district-wide (-25 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 (+9.9%/yr); 118 active listings in the ZIP; 2 comparable units currently listed for rent nearby; lower-income renter base — watch delinquency; 508 units permitted in Vanderburgh County in 2024 (32 in 5+ unit buildings).
• This rent runs 40% of the median local income ($41k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $519 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 8.0% rent growth), your $21k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• Only 7 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 10y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $45k; list at $75k implies a 67% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 3.0% of price; 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 $75,000

Questions for the listing agent

1. Built in 1919 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
6. 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.
7. 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.
8. 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: 1.82% ✓
• Cap rate: 13.80%
• Cash-on-cash: 26.80%
• DSCR: 2.19
• GRM: 4.6

CMA / ARV

• ARV (on-the-fly): $151,340
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
805 E Chandler Ave	0.06mi	3/2.0	2,273 (+5%)	7mo	$289,900	$128	81
1028 E Mulberry St	0.38mi	4/2.0 (+1)	2,164 (+0%)	1mo	$159,900	$74	74
758-760 S Evans Ave	0.14mi	3/2.0	1,992 (-8%)	6mo	$115,000	$58	74
802 - 804 E Powell Ave	0.07mi	4/2.0 (+1)	2,304 (+7%)	6mo	$27,000	$12	74
606 E Gum St	0.34mi	3/2.0	1,920 (-11%)	3mo	$165,000	$86	61
665 S Kentucky Ave	0.28mi	3/1.5	2,456 (+14%)	6mo	$190,000	$77	59
929 S Garvin St	0.35mi	4/2.0 (+1)	2,007 (-7%)	7mo	$110,000	$55	59
1019 Ravenswood Dr	0.67mi	3/1.5	2,244 (+4%)	7mo	$217,500	$97	56
1031 E Mulberry St	0.36mi	4/2.0 (+1)	2,408 (+11%)	5mo	$63,000	$26	53
308 Madison Ave	0.62mi	4/1.0 (+1)	2,045 (-5%)	7mo	$77,000	$38	49
409 S New York Ave	0.59mi	2/2.0 (-1)	1,872 (-13%)	7mo	$131,700	$70	37
1303 1305 Marshall Ave	0.75mi	4/3.0 (+1)	1,915 (-11%)	5mo	$125,000	$65	31

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 · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 26.8%
• Equity multiple: 2.19×
• Total profit: $25,027
• Equity at exit: $11,183

10-year hold

• IRR: 37.5%
• Equity multiple: 5.45×
• Total profit: $93,485
• Equity at exit: $6,485

Cash invested: $21,000 (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 47713

• Home prices YoY: -34.1%
• Rents YoY: 9.9%
• Active inventory: 118
• Price-to-rent: 4.6×

Monthly cashflow live

• Estimated rent: $1,368 medium
• Mortgage (P&I): −$393
• Tax from tax record: −$187 /mo · $2,249/yr
• Insurance: −$31
• HOA: −$0
• Vacancy / Maint / Mgmt: −$287
• Net cashflow: $469

Break-even live

Break-even rent $775

Max offer price $75,000

Occupancy floor 61%

Sensitivity live

Price	-10% $511	-5% $490	+0% $469	+5% $448	+10% $427
Rent	-10% $361	-5% $415	+0% $469	+5% $523	+10% $577
Rate	-1.0pp $507	-0.5pp $488	base $469	+0.5pp $450	+1.0pp $430

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: $18,750
• Closing costs: $2,250
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1213 Washington Ave Evansville, IN	4.0	1.0	1984	$1,595	$0.80	21d	1	0.50mi
27 W Franklin St Evansville, IN	4.0	2.5	2500	$1,100	$0.44	21d	1	1.30mi

Listing history 5 events

1. 2026-05-06
   status Pending
2. 2026-04-28
   listed $75,000 Active
3. 2025-08-02
   listed $95,000 Active
4. 2016-08-19
   soldstatus $45,000 860-char remark

   Show marketing remark (860 chars)

   Traditional style 2 story home located across from Bayard Park Library and park. Large covered front porch. Entry opens to a large Living room with gas log fireplace. Huge Dining room for family gatherings. Large eat-in Kitchen includes range-oven and refrigerator. Front staircase from the Entry or back staircase from the Kitchen leads to the 2nd floor. The 2nd floor has 3 large bedrooms and built-in drawers in the extra wide hallway. Ceramic full bath and a small sun porch, currently used as an office, complete the 2nd floor. Full stairs to a walk-up attic provides great storage space. Privacy fenced back yard. Detached garage with garage openers. Seller is providing a 1 year warranty for the buyers. Shared driveway off of Chandler Ave. however, owner uses drive off of the alley to access the garage. Home being sold in "As is" condition.

5. 2016-07-20
   listed $45,000 860-char remark

   Show marketing remark (860 chars)

   Traditional style 2 story home located across from Bayard Park Library and park. Large covered front porch. Entry opens to a large Living room with gas log fireplace. Huge Dining room for family gatherings. Large eat-in Kitchen includes range-oven and refrigerator. Front staircase from the Entry or back staircase from the Kitchen leads to the 2nd floor. The 2nd floor has 3 large bedrooms and built-in drawers in the extra wide hallway. Ceramic full bath and a small sun porch, currently used as an office, complete the 2nd floor. Full stairs to a walk-up attic provides great storage space. Privacy fenced back yard. Detached garage with garage openers. Seller is providing a 1 year warranty for the buyers. Shared driveway off of Chandler Ave. however, owner uses drive off of the alley to access the garage. Home being sold in "As is" condition.

ⓘ 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: $2,249 · $187/mo
• Projected year-2 tax: $2,249 · $187/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 ≥107°F today · 19 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 3% 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: $16,419
• − Mortgage interest: −$4,201
• − Property taxes: −$2,249
• − Insurance: −$375
• − Repairs & maintenance: −$1,314
• − Management: −$1,314
• − Depreciation: −$2,182
• Taxable income: $4,786
• Est. tax owed @ 24.0%: −$1,149
• After-tax cash flow: $4,479/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): 9,988
• Household income: $40,873
• Rent vs Own: 61.6% rent · 38.4% own
• Severe rent burden: 735.0

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: Diverse neighborhood (Simpson 0.60)
• Race & ethnicity: White 50% Black 39% Two or more races 7% Hispanic / Latino 3% Pacific Islander 1% Asian 1%
• Common ancestry: Romanian 2% Lithuanian 1% Italian 1%
• Foreign-born: 5% · Canada
• Languages at home: 96% English-only · Spanish 2% Tagalog/Filipino 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: ▼ -119.22%
• Current HPI: 229.9312
• Rent YoY: ▲ 9.87%
• 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

+66.7% since first listed

5 events — show timeline

• 2026-05-06 Pending — IRMLS
• 2026-04-28 Listed $75,000 IRMLS
• 2025-08-02 Listed $95,000 IRMLS
• 2016-08-19 Sold (MLS) $45,000 IRMLS
• 2016-07-20 Listed $45,000 IRMLS

Property tax history

+7.6%/yr

Latest (2024): $2,249 · +2.2% YoY. Source: county tax records.