1205 S Kentucky Ave · Evansville, IN 47714

$145,000

3 bd · 1.0 ba · 1,334 sqft · SingleFamily public records · 28 Days on market

Built 1909 6,098 sqft lot Est $117k · 24% over

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Why this score? — see what drove the D 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 +19.7/30.0
• DSCR +6.2/10.0
• Rent growth +4.5/5.0
• 1% rule +4.0/10.0
• Schools +3.3/10.0
• Livability +3.2/5.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to this charming 4-bedroom, 1.5-bath home filled with timeless character and beautiful Craftsman-style details throughout. The spacious living room showcases stunning original woodwork, large windows that bring in abundant natural light, and a cozy sitting area just off to the side. A generous dining room, newer light fixtures, and classic Craftsman-style doors add even more warmth and appeal to the main level. The roomy kitchen features black appliances and plenty of space for cooking and gathering. A convenient half bath also includes a partial laundry area, with the potential to easily reinstall a tub/shower combo and convert it back into a full main-level bathroom. Upstairs, you

Key facts

• Large windows
• Black appliances
• Generous dining room

Tags

• CRAFTSMAN STYLE DETAILS
• ORIGINAL WOODWORK
• LARGE WINDOWS
• COZY SITTING AREA
• GENEROUS DINING ROOM
• BLACK APPLIANCES

Property features AI

Finance

• Other: Lot dimensions approximately 50 x 125 (0.14 acre)
• Financial info: No financial details provided
• HOA & community: No homeowners association listed

Exterior

• Parking: Parking details not provided
• Security: No specific security features listed
• Utilities: Public water; Public sewer; Cable available and connected
• Home design: Single-family residential, site-built home; 2 stories
• Construction: Aluminum and vinyl siding; Block foundation; Shingle roof; Built area above grade: 2,199
• Exterior features: Porch; Fenced yard (full chain link); Irregular, level lot

Interior

• Kitchen: Disposal; Dishwasher; Refrigerator; Gas range
• Bedrooms: Bedrooms included in 9 total rooms
• Flooring: Carpet; Laminate
• Bathrooms: 1 full bathroom; 1 half bathroom; 1 main-level bathroom
• Heating & cooling: Natural gas forced air heating; Central air; Ceiling fan(s)
• Interior features: Walk-in closet(s); Ceiling fan(s); Laminate countertops; Partial unfinished basement with sump pump
• Laundry & utility: Electric dryer hookup; Laundry in basement

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $145k.

Deal economics

• At list price, monthly cash flow is $170 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $130k (10.0% below list).
• Recommended offer: $130k (10.0% below list) — sets the bar for 1% rule.
• Cap rate 7.7% 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: 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: Glenwood Leadership Academy (math 10% / reading 12%, grade F, #909 of 994 statewide, top 92%, 416 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 11% at this address vs 40% district-wide (-28 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; 15 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 $1k of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 7.9% rent growth), your $41k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 28 days — a 2% lower offer ($143k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1909 — 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 $130,490 (10.0% below list)

Questions for the listing agent

1. Built in 1909 — 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. 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?
5. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 0.90% ✗
• Cap rate: 7.70%
• Cash-on-cash: 5.03%
• DSCR: 1.22
• GRM: 9.3

CMA / ARV

• ARV (on-the-fly): $117,392
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
712 E Blackford Ave	0.44mi	2/1.0 (-1)	1,327 (-0%)	1mo	$22,000	$17	73
1414 Marshall Ave	0.49mi	3/1.0	1,364 (+2%)	1mo	$122,000	$89	73
1101 Ravenswood Dr	0.30mi	2/1.0 (-1)	1,269 (-5%)	1mo	$155,000	$122	72
1563 Marshall Ave	0.52mi	3/1.5	1,338 (+0%)	3mo	$83,000	$62	71
1225 S Bedford Ave	0.13mi	4/1.0 (+1)	1,522 (+14%)	2mo	$130,000	$85	64
1045 Bayard Park Dr	0.44mi	3/1.5	1,440 (+8%)	4mo	$110,000	$76	61
1108 E Blackford Ave	0.31mi	2/1.0 (-1)	1,176 (-12%)	3mo	$48,500	$41	58
613 Madison Ave	0.44mi	3/1.0	1,176 (-12%)	4mo	$165,000	$140	56
1425 Covert Ave	0.66mi	3/1.0	1,183 (-11%)	1mo	$118,000	$100	50
1059 Waggoner Ave	0.42mi	2/2.0 (-1)	1,150 (-14%)	1mo	$125,000	$109	47
1628 Washington Ave	0.74mi	3/2.0	1,453 (+9%)	1mo	$127,500	$88	46
600 E Chandler Ave	0.62mi	3/2.0	1,525 (+14%)	3mo	$51,000	$33	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 · 7.86% rent growth · sell at horizon

5-year hold

• IRR: -3.8%
• Equity multiple: 0.85×
• Total profit: $-6,037
• Equity at exit: $21,620

10-year hold

• IRR: 10.3%
• Equity multiple: 1.96×
• Total profit: $38,795
• Equity at exit: $12,537

Cash invested: $40,600 (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: 9.3×

Monthly cashflow live

• Estimated rent: $1,305 high
• Mortgage (P&I): −$760
• Tax from tax record: −$40 /mo · $480/yr
• Insurance: −$60
• HOA: −$0
• Vacancy / Maint / Mgmt: −$274
• Net cashflow: $170

Break-even live

Break-even rent $1,090

Max offer price $145,000

Occupancy floor 82%

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: $36,250
• Closing costs: $4,350
• Reserves months: —
• Total cash needed: —

Rent comps 15 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
638 Jackson Ave Evansville, IN	4.0	1.0	1176	$1,495	$1.27	21d	1	0.40mi
605 Madison Ave Evansville, IN	2.0	1.0	1069	$1,375	$1.29	21d	1	0.47mi
1133 Bayard Park Dr Unit B Evansville, IN	2.0	1.0	990	$800	$0.81	21d	1	0.48mi
734 Bayard Park Dr Evansville, IN	3.0	2.0	1000	$1,425	$1.43	21d	1	0.55mi
827 Judson St Evansville, IN	3.0	1.0	1008	$1,295	$1.28	14d	1	0.82mi
17 Washington Ave Evansville, IN	2.0	1.0	882	$1,455	$1.65	21d	1	0.97mi
304 S Grand Ave Evansville, IN	2.0	1.0	967	$955	$0.99	21d	1	0.99mi
1952 Colts Ln Evansville, IN	1.0–3.0	1.0	1146	$1,275	$1.11	21d	8	1.23mi
1762 Spring Ct Evansville, IN	2.0	1.0	975	$1,450	$1.49	21d	1	1.28mi
2340 Sunburst Blvd Unit 2200-202 Evansville, IN	3.0	1.0	973	$1,050	$1.08	21d	1	1.30mi
1303 E Indiana St Evansville, IN	2.0	1.0	975	$1,195	$1.23	14d	1	1.31mi
1321 E Indiana St Evansville, IN	2.0	1.0	964	$1,050	$1.09	14d	1	1.32mi
322 SE 1st St Evansville, IN	1.0–2.0	1.0	1100	$1,700	$1.55	21d	6	1.37mi
202 SE 1st St Evansville, IN	1.0–2.0	1.0	926	$2,449	$2.64	21d	4	1.46mi
210 S Weinbach Ave Evansville, IN	3.0	1.0	1080	$1,450	$1.34	21d	1	1.46mi

Listing history 15 events

1. 2026-06-18
   days on market $145,000 Active 28 DOM
2. 2026-06-17
   days on market $145,000 Active 27 DOM
3. 2026-06-16
   days on market $145,000 Active 26 DOM
4. 2026-06-15
   days on market $145,000 Active 25 DOM
5. 2026-06-14
   days on market $145,000 Active 23 DOM
6. 2026-06-13
   days on market $145,000 Active 22 DOM
7. 2026-06-10
   days on market $145,000 Active 20 DOM
8. 2026-06-09
   days on market $145,000 Active 19 DOM
9. 2026-06-08
   days on market $145,000 Active 18 DOM
10. 2026-06-07
    days on market $145,000 Active 17 DOM
11. 2026-06-02
    days on market $145,000 Active 12 DOM
12. 2026-06-01
    days on market $145,000 Active 11 DOM
13. 2026-05-31
    days on market $145,000 Active 10 DOM
14. 2026-05-30
    days on market $145,000 Active 9 DOM
15. 2026-05-21
    listed $145,000 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: $480 · $40/mo
• Projected year-2 tax: $856 · $71/mo
• Expected delta: +$376/yr (+$31/mo · 78.5%)

ⓘ 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: $15,659
• − Mortgage interest: −$8,122
• − Property taxes: −$480
• − Insurance: −$725
• − Repairs & maintenance: −$1,253
• − Management: −$1,253
• − Depreciation: −$4,218
• Taxable loss: −$392
• Est. tax savings @ 24.0%: +$94
• After-tax cash flow: $2,135/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

• 2026-05-21 Listed $145,000 IRMLS

Property tax history

+2.2%/yr

Latest (2024): $480 · -14.0% YoY. Source: county tax records.