1313 E Scott St · Vincennes, IN 47591

$39,999

2 bd · 1.0 ba · 900 sqft · SingleFamily public records · 12 Days on market

Built 1950 6,970 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
• Livability +3.5/5.0
• Schools +3.0/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Great investment opportunity in Vincennes. 2-bedroom, 1 bath ranch. Kitchen appliances and washer & dryer stay with the home. Lot is . 16 acres with detached garage and 2 sheds. On 2 parcels that could be sold separately. Great opportunity for investor or buyer to make their own.

Key facts

• 2 parcels
• 2 sheds
• Detached garage

Tags

• KITCHEN APPLIANCES STAY
• WASHER AND DRYER STAY
• DETACHED GARAGE
• 2 SHEDS
• 2 PARCELS

Property features AI

Finance

• Other: Lot size approximately 0.16 acres (< 1/4 acre)
• HOA & community: Not a low-maintenance lifestyle community

Exterior

• Parking: Detached garage (1 car, 576 sq ft)
• Utilities: Public water; Municipal sewer
• Home design: Single-family residence; One story; Property listed as fixer condition
• Construction: Wood siding; Cellar and crawl space foundation
• Exterior features: City lot with sidewalks and street lights; No fence

Interior

• Kitchen: Gas cooktop; Refrigerator
• Bedrooms: Two bedrooms on the main level; Bedroom 2 (9 x 8); Additional main-level room (13 x 14)
• Bathrooms: One full bathroom on the main level
• Heating & cooling: Natural gas heating; Central air conditioning
• Interior features: Eat-in kitchen; Living room (13 x 15)
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $40k.

Deal economics

• At list price, monthly cash flow is $367 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($815 rent vs $40k).
• Cap rate 17.3% vs local median 5.1% in Vincennes — 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 70/100 on livability (#148 in IN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: amenities F, commute F, employment D-.
• Vincennes Community School Corporation (town): math 34% / reading 38% proficiency, ranked #193 of 301 in IN (top 64%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Lincoln High School (math 27% / reading 47%, grade F, #247 of 369 statewide, top 70%, 765 students, 55% FRL) — zoned schools at 55% FRL track the district average.
• Market conditions: 139 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; 36 units permitted in Knox County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $276 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• Knox County population projected at -13% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $11k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• Only 12 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1950 — 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 $39,999

Questions for the listing agent

1. Built in 1950 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. 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: 2.04% ✓
• Cap rate: 17.32%
• Cash-on-cash: 39.36%
• DSCR: 2.75
• GRM: 4.1

CMA / ARV

• ARV (on-the-fly): $105,300
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
402 N 15th St	0.20mi	2/1.0	884 (-2%)	3mo	$120,000	$136	85
1027 N 10th St	0.37mi	2/1.0	904 (+0%)	0mo	$62,000	$69	82
25 N 15th St	0.38mi	2/1.0	900 (0%)	1mo	$69,000	$77	82
902 N 12 St	0.16mi	2/1.0	952 (+6%)	4mo	$114,900	$121	80
1317 Wabash Ave	0.25mi	2/1.0	936 (+4%)	3mo	$144,000	$154	79
1806 College Ave	0.36mi	2/1.0	868 (-4%)	2mo	$95,000	$109	75
1159 E Saint Clair St	0.53mi	2/1.0	904 (+0%)	2mo	$120,000	$133	73
1547 E Locust St	0.42mi	2/2.0	874 (-3%)	5mo	$102,000	$117	68
1304 Broadway St	0.26mi	2/1.0	1,014 (+13%)	2mo	$35,000	$35	65
1320 Perry St	0.15mi	1/1.0 (-1)	768 (-15%)	4mo	$28,000	$36	60
1172 E Locust St	0.44mi	2/1.0	1,008 (+12%)	4mo	$130,000	$129	56
1022 Barnett St	0.65mi	1/1.0 (-1)	773 (-14%)	2mo	$89,500	$116	40

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: 35.6%
• Equity multiple: 2.51×
• Total profit: $16,930
• Equity at exit: $5,964

10-year hold

• IRR: 42.4%
• Equity multiple: 5.01×
• Total profit: $44,923
• Equity at exit: $3,458

Cash invested: $11,200 (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 47591

• Home prices YoY: -19.5%
• Active inventory: 139
• Price-to-rent: 4.1×

Monthly cashflow live

• Estimated rent: $815 medium
• Mortgage (P&I): −$210
• Tax est. 1.5%: −$50 /mo · $600/yr
• Insurance: −$17
• HOA: −$0
• Vacancy / Maint / Mgmt: −$171
• Net cashflow: $367

Break-even live

Break-even rent $350

Max offer price $39,999

Occupancy floor 50%

Sensitivity live

Price	-10% $395	-5% $381	+0% $367	+5% $354	+10% $340
Rent	-10% $303	-5% $335	+0% $367	+5% $400	+10% $432
Rate	-1.0pp $388	-0.5pp $378	base $367	+0.5pp $357	+1.0pp $346

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: $10,000
• Closing costs: $1,200
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1520 Main St Apt 30 Vincennes, IN	1.0	1.0	825	$650	$0.79	44d	1	0.38mi
721 N 7th St Unit A Vincennes, IN	2.0	1.0	1000	$975	$0.97	44d	1	0.49mi
223 W Saint Clair St Vincennes, IN	2.0	1.0	610	$995	$1.63	44d	4	1.23mi

Listing history 10 events

1. 2026-06-21
   days on market $39,999 Active 12 DOM
2. 2026-06-18
   days on market $39,999 Active 10 DOM
3. 2026-06-18
   price $39,999 Active 9 DOM
4. 2026-06-17
   days on market $45,000 Active 9 DOM
5. 2026-06-16
   days on market $45,000 Active 8 DOM
6. 2026-06-15
   days on market $45,000 Active 7 DOM
7. 2026-06-13
   days on market $45,000 Active 5 DOM
8. 2026-06-12
   days on market $45,000 Active 4 DOM
9. 2026-06-09
   remarks 282-char remark
10. 2026-06-09
    listed $45,000 Active 1 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 5/10 Major 7 d/yr ≥106°F today · 19 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 2% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $9,780
• − Mortgage interest: −$2,241
• − Property taxes: −$600
• − Insurance: −$200
• − Repairs & maintenance: −$782
• − Management: −$782
• − Depreciation: −$1,164
• Taxable income: $4,011
• Est. tax owed @ 24.0%: −$963
• After-tax cash flow: $3,446/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: Vincennes Community School Corporation
• NCES district ID: 1812120
• Math proficiency: 34% ▼ -5.00%
• Reading proficiency: 38% ▼ -4.00%
• Median HH income: $38,359
• Composite: 30.05/100
• National rank: #6354
• State rank: #193 of 301 in IN

Livability — Vincennes

• Score: 70/100
• State rank: #148
• US rank: #7480

Category grades

Amenities F Commute F Cost of living A+ Crime B Employment D- Housing A+ Health & safety A+ User ratings F

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Vincennes, IN
• Population (ZIP): 25,191

Population outlook (Knox County) Hauer SSP2

• Today (2025): 37,092 people
• By 2030: 36,271 · -2.2%
• By 2040: 34,196 · -7.8%
• By 2050: 32,405 · -12.6%
• By 2075: 28,754 · -22.5%
• By 2100: 24,110 · -35.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (88%)
• Race & ethnicity: White 88% Two or more races 6% Hispanic / Latino 3% Black 2% Asian 1%
• Common ancestry: Lithuanian 4% Romanian 2% Slovak 2%
• Foreign-born: 3% · Canada, China
• Languages at home: 95% English-only · Spanish 2% French/Haitian/Cajun 1% Chinese 1%

Political lean MEDSL · Knox

• 2024 margin: Solid R (+50.4) · D 24.0% · R 74.4% · Other 1.6%
• 2008→2024 swing: -43.9pp toward R · 2008: -6.5pp · 2024: -50.4pp
• All cycles: 2024: R+50.4 2020: R+47.4 2016: R+47.2 2012: R+28.9 2008: R+6.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -47.26%
• Current HPI: 194.903
• Rent YoY: —
• Metro: —
• 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

• 2026-06-08 Listed $45,000 MIBOR as Distributed by MLS Grid

Property tax history

-34.2%/yr

Latest (2024): $20 · -92.5% YoY. Source: county tax records.