3220 Coker Ave · Evansville, IN 47714

$145,000

3 bd · 1.0 ba · 891 sqft · SingleFamily public records · 40 Days on market

Built 1940 4,138 sqft lot Est $127k · 15% 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 +14.9/30.0
• DSCR +4.5/10.0
• Rent growth +4.5/5.0
• Schools +3.3/10.0
• Livability +3.2/5.0
• 1% rule +3.1/10.0
• Condition / age +2.5/5.0
• ARV discount +0.9/15.0
• Appreciation +0.0/10.0

Listing remarks

Fully remodeled! Move right into this 3 bedroom home with a lovely floorplan and gorgeous, custom features! The kitchen was designed with custom cabinets, shelving and real butcher block counters! Have you always wanted a coffee bar? This home has one! Lovely features of this home include luxury vinyl plank flooring, new bath with beautifully designed tiled shower/bath, lovely light fixtures throughout, brand new HVAC system, new hot water heater, roof, fresh paint. .. .. too much to mention!

Key facts

• Custom cabinets
• New hot water heater
• Coffee bar

Tags

• CUSTOM CABINETS
• BUTCHER BLOCK COUNTERS
• COFFEE BAR
• TILED SHOWER
• NEW HVAC SYSTEM
• NEW HOT WATER HEATER

Property features AI

Exterior

• Parking: Detached 2-car garage
• Security: Smoke detectors; Carbon monoxide detectors
• Utilities: Public water; Public sewer
• Home design: Single-family residence; Site-built home; One story
• Construction: Aluminum siding; Shingle roof; Has home warranty
• Exterior features: Partial wood privacy fencing; Level lot

Interior

• Kitchen: Dishwasher; Microwave; Refrigerator; Gas range
• Bedrooms: Total of 5 rooms (includes bedrooms and living spaces)
• Flooring: Other
• Bathrooms: 1 full bathroom (main level)
• Heating & cooling: Natural gas forced-air heating; Central air conditioning
• Interior features: Open floorplan; Crawl space basement
• Laundry & utility: Washer hookup (main level); Electric dryer hookup (main level); Gas water heater; Water heater

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 $41 ($495/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 $118k (18.6% below list).
• Recommended offer: $118k (18.6% below list) — sets the bar for 1% rule.
• Cap rate 6.6% 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: Caze Elementary School (math 17% / reading 17%, grade F, #837 of 994 statewide, top 86%, 393 students, 79% FRL); Mcgary Middle School (math 8% / reading 15%, grade F, #311 of 330 statewide, top 94%, 351 students, 81% FRL); William Henry Harrison High School (math 29% / reading 54%, grade F, #211 of 369 statewide, top 58%, 1,158 students, 61% FRL) — zoned schools average 73% FRL vs 50% district-wide (23 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 23% at this address vs 40% district-wide (-16 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); 191 active listings in the ZIP; 14 comparable units currently listed for rent nearby; rentals at typical pace (median 23d 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.

Negotiation context

• It's been on market 40 days — a 3% lower offer ($141k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1940 — 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 $117,973 (18.6% below list)

Questions for the listing agent

1. It's been on market 40 days. Have you received any prior offers? Is the seller open to a 19% concession, seller financing, or rate buy-down credit?
2. Built in 1940 — 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. 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. 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?
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: 0.81% ✗
• Cap rate: 6.63%
• Cash-on-cash: 1.22%
• DSCR: 1.05
• GRM: 10.2

CMA / ARV

• ARV (on-the-fly): $126,522
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2511 S Ruston Ave	0.40mi	3/1.0	925 (+4%)	2mo	$90,000	$97	74
2524 E Riverside Dr	0.44mi	3/1.0	923 (+4%)	2mo	$139,000	$151	72
2625 Hawthorne Ave	0.26mi	3/1.0	988 (+11%)	3mo	$140,000	$142	67
3407 Pollack Ave	0.41mi	3/1.0	970 (+9%)	1mo	$130,000	$134	66
2607 Hawthorne Ave	0.27mi	3/1.0	1,014 (+14%)	2mo	$153,000	$151	63
2328 Frisse Ave	0.65mi	2/1.0 (-1)	868 (-3%)	4mo	$139,000	$160	57
4016 Frisse Ave	0.54mi	3/1.0	972 (+9%)	7mo	$167,000	$172	53
3412 Conlin Ave	0.63mi	3/1.0	988 (+11%)	4mo	$155,000	$157	49
2507 Rheinhardt Ave	0.49mi	2/1.0 (-1)	984 (+10%)	7mo	$75,000	$76	49
1913 Jeanette Ave	0.69mi	3/1.0	999 (+12%)	3mo	$108,000	$108	45
2232 E Riverside Dr	0.74mi	2/1.0 (-1)	810 (-9%)	3mo	$81,888	$101	43
2329 Pollack Ave	0.72mi	2/1.0 (-1)	780 (-12%)	0mo	$94,000	$121	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: -9.6%
• Equity multiple: 0.63×
• Total profit: $-14,870
• Equity at exit: $21,620

10-year hold

• IRR: 5.0%
• Equity multiple: 1.44×
• Total profit: $17,689
• 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: 191
• Price-to-rent: 10.2×

Monthly cashflow live

• Estimated rent: $1,180 high
• Mortgage (P&I): −$760
• Tax from tax record: −$70 /mo · $839/yr
• Insurance: −$60
• HOA: −$0
• Vacancy / Maint / Mgmt: −$248
• Net cashflow: $41

Break-even live

Break-even rent $1,128

Max offer price $145,000

Occupancy floor 92%

Sensitivity live

Price	-10% $123	-5% $82	+0% $41	+5% $0	+10% $-41
Rent	-10% $-52	-5% $-5	+0% $41	+5% $88	+10% $134
Rate	-1.0pp $114	-0.5pp $78	base $41	+0.5pp $4	+1.0pp $-35

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 14 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2818 S Villa Dr Evansville, IN	3.0	1.0	1061	$1,295	$1.22	22d	1	0.27mi
2501 Pollack Ave Evansville, IN	2.0	1.0	648	$1,080	$1.67	22d	1	0.56mi
2232 E Riverside Dr Evansville, IN	2.0	1.0	810	$1,200	$1.48	15d	1	0.71mi
3700 Justus Ct Evansville, IN	1.0–2.0	1.0–2.0	790	$975	$1.23	22d	1	1.06mi
1621 Burdette Ave Evansville, IN	2.0	1.0	720	$1,050	$1.46	22d	1	1.07mi
1762 Spring Ct Evansville, IN	2.0	1.0	975	$1,450	$1.49	22d	1	1.10mi
1320 Lee Ct Evansville, IN	1.0–4.0	1.0–1.5	1007	$1,266	$1.26	15d	36	1.14mi
1952 Colts Ln Evansville, IN	1.0–3.0	1.0	1146	$1,275	$1.11	22d	8	1.16mi
1909 Plantation Ct Evansville, IN	2.0	1.0	780	$700	$0.90	22d	2	1.20mi
4689 Covert Ave Unit 4629 Evansville, IN	2.0	1.0	725	$775	$1.07	15d	1	1.26mi
1604 Marbo Ave Evansville, IN	2.0	1.0	900	$1,095	$1.22	22d	1	1.34mi
2340 Sunburst Blvd Unit 2200-202 Evansville, IN	3.0	1.0	973	$1,050	$1.08	22d	1	1.36mi
2340 Sunburst Blvd Unit 2270-318 Evansville, IN	2.0	1.0	815	$900	$1.10	22d	1	1.36mi
1165 Shiloh Sq Evansville, IN	1.0–2.0	1.0–2.0	907	$1,145	$1.26	15d	15	1.42mi

Listing history 16 events

1. 2026-06-22
   days on market $145,000 Active 40 DOM
2. 2026-06-18
   days on market $145,000 Active 37 DOM
3. 2026-06-17
   days on market $145,000 Active 36 DOM
4. 2026-06-16
   days on market $145,000 Active 35 DOM
5. 2026-06-15
   days on market $145,000 Active 34 DOM
6. 2026-06-14
   days on market $145,000 Active 32 DOM
7. 2026-06-13
   days on market $145,000 Active 31 DOM
8. 2026-06-10
   days on market $145,000 Active 29 DOM
9. 2026-06-09
   days on market $145,000 Active 28 DOM
10. 2026-06-08
    days on market $145,000 Active 27 DOM
11. 2026-06-07
    pricedays on market $145,000 Active 26 DOM
12. 2026-06-02
    days on market $150,000 Active 21 DOM
13. 2026-06-01
    days on market $150,000 Active 20 DOM
14. 2026-05-31
    days on market $150,000 Active 19 DOM
15. 2026-05-30
    days on market $150,000 Active 18 DOM
16. 2026-05-12
    listed $150,000 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: $839 · $70/mo
• Projected year-2 tax: $1,036 · $86/mo
• Expected delta: +$197/yr (+$16/mo · 23.4%)

ⓘ 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: $14,157
• − Mortgage interest: −$8,122
• − Property taxes: −$839
• − Insurance: −$725
• − Repairs & maintenance: −$1,133
• − Management: −$1,133
• − Depreciation: −$4,218
• Taxable loss: −$2,013
• Est. tax savings @ 24.0%: +$483
• After-tax cash flow: $978/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

• 2026-05-12 Listed $150,000 IRMLS

Property tax history

+5.5%/yr

Latest (2024): $839 · +98.2% YoY. Source: county tax records.