1117 Lodge Ave · Evansville, IN 47714

$95,000

2 bd · 1.0 ba · 1,080 sqft · SingleFamily public records · 112 Days on market

Built 1923 4,356 sqft lot Est $150k · 37% 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 +24.6/30.0
• ARV discount +15.0/15.0
• DSCR +7.9/10.0
• 1% rule +6.1/10.0
• 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

2 bedroom 1 bath single family home. Sold as part of a package deal (#2) totaling 7 investment properties. Currently rented for $795/month. Package includes 1015 Henning Ave. , 401 E Michigan St. , 1117 Lodge Ave. , 1118 N Garvin St. , 1414 E Sycamore St. , 1800 Boeke Rd. , and 1303 E Illinois St. for a total package purchase price of $665,000.00.

Key facts

• 4,356 sq ft lot
• Built 1923
• Listed 112 days

Property features AI

Exterior

• Parking: Off-street parking
• Utilities: Public water; Public sewer
• Home design: Single-family site-built home; One story
• Construction: Vinyl siding construction
• Exterior features: Level lot; Covered porch; Asphalt roof

Interior

• Bedrooms: Total of 5 rooms (bedrooms included)
• Bathrooms: 1 full bathroom (main level)
• Heating & cooling: Central air conditioning; Forced air heating
• Interior features: Full, unfinished basement; Covered porch
• Laundry & utility: Laundry in basement

🏷️ Possibly a rental listed for sale. The $95,000 price doesn't fit this home's estimated sale value (~$150,120) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $95k.

Deal economics

• At list price, monthly cash flow is $196 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $95k).
• Recommended offer: $86k (9.0% below list) — sets the bar for market timing.
• Cap rate 8.8% 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; 29 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 $657 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 7.9% rent growth), your $27k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 112 days — a 9% lower offer ($86k) is reasonable based on typical stale-listing flexibility.
• 2 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.

Risks & watch-outs

• Watch-outs: built in 1923 — 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 $86,450 (9.0% below list)

Questions for the listing agent

1. It's been on market 112 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1923 — 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: 1.11% ✓
• Cap rate: 8.77%
• Cash-on-cash: 8.86%
• DSCR: 1.39
• GRM: 7.5

CMA / ARV

• ARV (on-the-fly): $150,120
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1114 S Englewood Ave	0.21mi	3/1.0 (+1)	1,108 (+3%)	1mo	$154,000	$139	80
713 S Runnymeade Ave	0.47mi	2/1.0	1,056 (-2%)	1mo	$153,500	$145	74
1401 Lodge Ave	0.20mi	3/1.0 (+1)	990 (-8%)	0mo	$145,000	$146	72
1451 Bellemeade Ave	0.47mi	2/1.0	1,016 (-6%)	2mo	$215,000	$212	67
1810 Cass Ave	0.62mi	2/1.5	1,080 (0%)	4mo	$125,000	$116	66
1108 E Blackford Ave	0.39mi	2/1.0	1,176 (+9%)	3mo	$48,500	$41	64
1809 Powell Ave	0.46mi	2/1.0	1,168 (+8%)	1mo	$185,000	$158	64
1826 Madison Ave	0.42mi	3/1.0 (+1)	1,150 (+6%)	3mo	$157,400	$137	62
1425 Covert Ave	0.41mi	3/1.0 (+1)	1,183 (+10%)	1mo	$118,000	$100	59
1059 Waggoner Ave	0.63mi	2/2.0	1,150 (+6%)	1mo	$125,000	$109	55
2120 Monroe Ave	0.69mi	2/1.0	1,152 (+7%)	2mo	$158,000	$137	55
1410 Sweetser Ave	0.65mi	2/1.0	928 (-14%)	1mo	$165,000	$178	45

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: 2.3%
• Equity multiple: 1.09×
• Total profit: $2,516
• Equity at exit: $14,165

10-year hold

• IRR: 16.1%
• Equity multiple: 2.61×
• Total profit: $42,800
• Equity at exit: $8,214

Cash invested: $26,600 (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: 7.5×

Monthly cashflow live

• Estimated rent: $1,052 high
• Mortgage (P&I): −$498
• Tax from tax record: −$97 /mo · $1,163/yr
• Insurance: −$40
• HOA: −$0
• Vacancy / Maint / Mgmt: −$221
• Net cashflow: $196

Break-even live

Break-even rent $803

Max offer price $95,000

Occupancy floor 76%

Sensitivity live

Price	-10% $250	-5% $223	+0% $196	+5% $170	+10% $143
Rent	-10% $113	-5% $155	+0% $196	+5% $238	+10% $280
Rate	-1.0pp $244	-0.5pp $221	base $196	+0.5pp $172	+1.0pp $147

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: $23,750
• Closing costs: $2,850
• Reserves months: —
• Total cash needed: —

Rent comps 29 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1505 Jackson Ave Evansville, IN	2.0	1.0	780	$995	$1.28	22d	1	0.24mi
1500 S Harlan Ave Evansville, IN	2.0	1.0	712	$900	$1.26	14d	1	0.30mi
1021 Jefferson Ave Evansville, IN	1.0	1.0	798	$795	$1.00	14d	1	0.42mi
1133 Bayard Park Dr Unit B Evansville, IN	2.0	1.0	990	$800	$0.81	22d	1	0.45mi
1909 Taylor Ave Evansville, IN	2.0	1.0	700	$1,200	$1.71	14d	1	0.51mi
734 Bayard Park Dr Evansville, IN	3.0	2.0	1000	$1,425	$1.43	22d	1	0.88mi
1909 Plantation Ct Evansville, IN	2.0	1.0	780	$700	$0.90	22d	2	0.91mi
1762 Spring Ct Evansville, IN	2.0	1.0	975	$1,450	$1.49	22d	1	0.91mi
1952 Colts Ln Evansville, IN	1.0–3.0	1.0	1146	$1,035	$0.90	22d	8	0.96mi
605 Madison Ave Evansville, IN	2.0	1.0	1069	$1,375	$1.29	22d	1	0.97mi
715 E Riverside Dr Evansville, IN	2.0	1.0	806	$895	$1.11	22d	1	0.97mi
507 S Evans Ave Evansville, IN	2.0	1.0	750	$795	$1.06	22d	1	1.05mi
304 S Grand Ave Evansville, IN	2.0	1.0	967	$955	$0.99	22d	1	1.07mi
210 S Weinbach Ave Evansville, IN	3.0	1.0	1080	$1,450	$1.34	22d	1	1.10mi
1415 E Indiana St Evansville, IN	2.0	1.0	814	$795	$0.98	14d	1	1.17mi
1321 E Indiana St Evansville, IN	2.0	1.0	964	$1,050	$1.09	14d	1	1.17mi
1303 E Indiana St Evansville, IN	2.0	1.0	975	$1,195	$1.23	14d	1	1.17mi
2340 Sunburst Blvd Unit 2200-202 Evansville, IN	3.0	1.0	973	$1,050	$1.08	22d	1	1.20mi
2340 Sunburst Blvd Unit 2270-318 Evansville, IN	2.0	1.0	815	$900	$1.10	22d	1	1.20mi
900 S Saint James Blvd Evansville, IN	3.0	2.0	1118	$1,450	$1.30	22d	1	1.22mi
2001 S Taft Ave Evansville, IN	3.0	2.0	1472	$1,000	$0.68	22d	1	1.25mi
827 Judson St Evansville, IN	3.0	1.0	1008	$1,295	$1.28	14d	1	1.27mi
1421 SE 2nd St Unit A Evansville, IN	1.0	1.0	800	$695	$0.87	14d	1	1.34mi
924 SE 6th St Unit A Evansville, IN	1.0	1.0	800	$875	$1.09	22d	1	1.36mi
2232 E Riverside Dr Evansville, IN	2.0	1.0	810	$1,200	$1.48	14d	1	1.41mi
1713 Hawthorne Ave Evansville, IN	3.0	2.0	1204	$1,395	$1.16	22d	1	1.42mi
2947 Ravenswood Dr Unit 2927 Evansville, IN	2.0	1.0	1150	$975	$0.85	22d	1	1.42mi
17 Washington Ave Evansville, IN	2.0	1.0	882	$1,455	$1.65	22d	1	1.44mi
8 E Blackford Ave Evansville, IN	1.0	1.0	750	$825	$1.10	22d	1	1.46mi

Listing history 7 events

1. 2026-06-07
   statusdays on market $95,000 Pending 112 DOM
2. 2026-06-02
   days on market $95,000 Active 109 DOM
3. 2026-06-01
   days on market $95,000 Active 108 DOM
4. 2026-05-31
   days on market $95,000 Active 107 DOM
5. 2026-05-30
   days on market $95,000 Active 106 DOM
6. 2026-02-12
   listed $95,000 Active
7. 2016-05-09
   listed $68,500

ⓘ 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: $1,163 · $97/mo
• Projected year-2 tax: $1,163 · $97/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 · 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: $12,625
• − Mortgage interest: −$5,321
• − Property taxes: −$1,163
• − Insurance: −$475
• − Repairs & maintenance: −$1,010
• − Management: −$1,010
• − Depreciation: −$2,764
• Taxable income: $882
• Est. tax owed @ 24.0%: −$212
• After-tax cash flow: $2,146/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

+38.7% since first listed

2 events — show timeline

• 2026-02-12 Listed $95,000 IRMLS
• 2016-05-09 Listed $68,500 IRMLS

Property tax history

+2.5%/yr

Latest (2024): $1,163 · +67.9% YoY. Source: county tax records.