1171 Dewolf St · Vincennes, IN 47591

$45,000

2 bd · 1.0 ba · 817 sqft · SingleFamily public records · 49 Days on market

Built 1930 3,790 sqft lot $55/sqft · 55% below area ↓ 18% since listing

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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 MLS

2 bed / 1 bath PLUS a small bonus room with no closet

Key facts

• 3,790 sq ft lot
• Built 1930
• Listed 49 days

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $45k.

Deal economics

• At list price, monthly cash flow is $388 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($866 rent vs $45k).
• Recommended offer: $44k (3.0% below list) — sets the bar for market timing.
• Cap rate 16.6% 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: schools D, amenities F, commute F.
• 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.
• Market conditions: 136 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals lingering (median 44d 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 $311 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 $13k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 49 days — a 3% lower offer ($44k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1930 — 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 $43,650 (3.0% below list)

Questions for the listing agent

1. It's been on market 49 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1930 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. 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.
6. 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.
7. 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: 1.92% ✓
• Cap rate: 16.64%
• Cash-on-cash: 36.94%
• DSCR: 2.64
• GRM: 4.3

CMA / ARV

• ARV (median comp): $99,336
• List price: $45,000
• Delta: -54.70%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
853 Ridgeway Ave	0.25mi	2/1.5	781 (-4%)	4mo	$137,500	$176	76
1159 E Saint Clair St	0.12mi	2/1.0	904 (+11%)	2mo	$120,000	$133	75
1317 Weed Ln	0.31mi	2/1.0	858 (+5%)	6mo	$139,000	$162	72
859 Ridgeway Ave	0.23mi	2/1.0	884 (+8%)	7mo	$110,000	$124	69
1224 N Upper 11th St	0.31mi	2/1.0	888 (+9%)	6mo	$75,000	$84	66
827 State St	0.24mi	2/1.0	902 (+10%)	7mo	$105,000	$116	66
1547 E Locust St	0.36mi	2/2.0	874 (+7%)	5mo	$102,000	$117	64
918 N 12th St	0.49mi	2/1.0	770 (-6%)	5mo	$38,000	$49	63
1027 N 10th St	0.43mi	2/1.0	904 (+11%)	0mo	$62,000	$69	62
1806 College Ave	0.64mi	2/1.0	868 (+6%)	2mo	$95,000	$109	58
1317 Wabash Ave	0.38mi	2/1.0	936 (+15%)	3mo	$144,000	$154	56
1210 N 13th St	0.32mi	2/1.0	936 (+15%)	6mo	$103,000	$110	56

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: 32.8%
• Equity multiple: 2.38×
• Total profit: $17,416
• Equity at exit: $6,710

10-year hold

• IRR: 39.8%
• Equity multiple: 4.73×
• Total profit: $46,992
• Equity at exit: $3,891

Cash invested: $12,600 (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 47591

• Home prices YoY: -19.5%
• Active inventory: 136
• Price-to-rent: 4.3×

Monthly cashflow live

• Estimated rent: $866 medium
• Mortgage (P&I): −$236
• Tax from tax record: −$42 /mo · $500/yr
• Insurance: −$19
• HOA: −$0
• Vacancy / Maint / Mgmt: −$182
• Net cashflow: $388

Break-even live

Break-even rent $375

Max offer price $45,000

Occupancy floor 50%

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: $11,250
• Closing costs: $1,350
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
721 N 7th St Unit A Vincennes, IN	2.0	1.0	1000	$975	$0.97	43d	1	0.70mi
1520 Main St Apt 30 Vincennes, IN	1.0	1.0	825	$650	$0.79	43d	1	0.96mi
223 W Saint Clair St Vincennes, IN	2.0	1.0	610	$995	$1.63	43d	4	1.00mi

Listing history 14 events

1. 2026-06-12
   statusdays on market $45,000 Pending 49 DOM
2. 2026-06-09
   days on market $45,000 Active 47 DOM
3. 2026-06-08
   days on market $45,000 Active 46 DOM
4. 2026-06-07
   days on market $45,000 Active 45 DOM
5. 2026-06-07
   days on market $45,000 Active 44 DOM
6. 2026-06-04
   pricedays on market $45,000 Active 41 DOM
7. 2026-06-02
   days on market $54,900 Active 40 DOM
8. 2026-06-01
   pricedays on market $54,900 Active 39 DOM
9. 2026-05-31
   days on market $59,900 Active 38 DOM
10. 2026-05-31
    days on market $59,900 Active 37 DOM
11. 2026-05-18
    price $64,000 53-char remark

    Show marketing remark (53 chars)

    2 bed / 1 bath PLUS a small bonus room with no closet

12. 2026-05-11
    price $68,000 53-char remark

    Show marketing remark (53 chars)

    2 bed / 1 bath PLUS a small bonus room with no closet

13. 2026-05-01
    price $71,900 53-char remark

    Show marketing remark (53 chars)

    2 bed / 1 bath PLUS a small bonus room with no closet

14. 2026-04-22
    listed $78,500 Active 53-char remark

    Show marketing remark (53 chars)

    2 bed / 1 bath PLUS a small bonus room with no closet

ⓘ 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: $500 · $42/mo
• Projected year-2 tax: $500 · $42/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 4/10 Moderate 22% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 5/10 Major 7 d/yr ≥105°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: $10,394
• − Mortgage interest: −$2,521
• − Property taxes: −$500
• − Insurance: −$225
• − Repairs & maintenance: −$832
• − Management: −$832
• − Depreciation: −$1,309
• Taxable income: $4,176
• Est. tax owed @ 24.0%: −$1,002
• After-tax cash flow: $3,652/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

-18.5% since first listed

4 events — show timeline

• 2026-05-18 Price Changed $64,000 IRMLS
• 2026-05-11 Price Changed $68,000 IRMLS
• 2026-05-01 Price Changed $71,900 IRMLS
• 2026-04-22 Listed $78,500 IRMLS

Property tax history

-8.5%/yr

Latest (2024): $500 · -52.9% YoY. Source: county tax records.