711 N Lemcke Ave · Evansville, IN 47712

$99,000

1 bd · 1.0 ba · 976 sqft · SingleFamily public records · 28 Days on market

Built 1900 3,485 sqft lot Est $138k · 28% under

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Why this score? — see what drove the C+ 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 +22.7/30.0
• ARV discount +15.0/15.0
• DSCR +7.3/10.0
• 1% rule +4.8/10.0
• Schools +3.3/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Well cared for and on the Westside. .. .This 2 bedroom home showcases 9' ceilings and 6" trim throughout. The Kitchen includes all appliances and is accented by a sparkling glass backsplash, making it feel light and airy. The Living Room is well lit by 2 large windows and a full view front storm door. The spacious Master Bedroom features a full wall of closets. Enjoy the covered back porch this summer. A beautiful tree, shrubbery, and a landscaped area border the walk to the 2 car garage, which is accessed by the alley way. The covered front porch is clay-colored restored concrete and complements the tasteful, freshly-painted, soft green colored, home.

Key facts

• 3,485 sq ft lot
• 2 garage spots
• Built 1900

Property features AI

Finance

• Other: Annual tax amount listed (omitted per instructions)
• Financial info: No investment or income details provided
• HOA & community: No HOA details provided

Exterior

• Parking: Detached 2-car garage
• Security: No security details provided
• Utilities: Private water source; Public sewer
• Home design: Single-family, site-built home; One story
• Construction: Vinyl siding exterior; Block foundation; Above-grade finished area reported
• Exterior features: Level lot; Lot dimensions approximately 26 x 130; Zoned R-1 One-Family Residence

Interior

• Kitchen: No kitchen appliance details provided
• Bedrooms: Total of 4 rooms (bedroom count not specified)
• Flooring: No flooring details provided
• Bathrooms: 1 full bathroom (main level)
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: Partial, unfinished basement
• Laundry & utility: Laundry on the main level

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath single-family listed at $99k.

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 $97k (1.9% below list).
• Recommended offer: $97k (1.9% below list) — sets the bar for 1% rule.
• Cap rate 8.4% 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: Cynthia Heights Elementary School (math 56% / reading 55%, grade C, #188 of 994 statewide, top 19%, 457 students, 43% FRL); Helfrich Park Stem Academy (math 36% / reading 47%, grade F, #108 of 330 statewide, top 34%, 517 students, 52% FRL); Francis Joseph Reitz High School (math 45% / reading 68%, grade C, #70 of 369 statewide, top 19%, 1,280 students, 44% FRL) — zoned schools at 47% FRL track the district average.
• Market conditions: 134 active listings in the ZIP; 8 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).
• This rent is only 17% of the median local income ($68k/yr) — well below the 30% rent-burden line; pricing power to push rent on renewal without tenant pushback.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $684 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 28 days — a 2% lower offer ($98k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 11y 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.
• Current owner paid $84k; 17% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1900 — 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 $97,072 (1.9% below list)

Questions for the listing agent

1. Built in 1900 — 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. 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: 0.98% ✗
• Cap rate: 8.35%
• Cash-on-cash: 7.35%
• DSCR: 1.33
• GRM: 8.5

CMA / ARV

• ARV (on-the-fly): $137,616
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
707 Wessel Ln	0.06mi	2/1.0 (+1)	1,072 (+10%)	1mo	$137,000	$128	75
708 N Eleventh Ave	0.34mi	2/1.0 (+1)	936 (-4%)	3mo	$110,000	$118	69
3103 W Virginia St	0.55mi	2/1.0 (+1)	977 (+0%)	2mo	$185,000	$189	68
3004 W Michigan St	0.48mi	2/1.0 (+1)	988 (+1%)	8mo	$160,000	$162	64
3209 Mount Vernon Ave	0.63mi	2/1.0 (+1)	1,002 (+3%)	1mo	$128,750	$128	61
2740 W Franklin St	0.33mi	2/2.0 (+1)	1,071 (+10%)	1mo	$151,320	$141	59
507 N Eleventh Ave	0.42mi	2/1.0 (+1)	880 (-10%)	5mo	$107,000	$122	55
3007 Forest Ave	0.68mi	2/1.0 (+1)	908 (-7%)	1mo	$152,900	$168	51
2617 Edgewood Dr	0.65mi	2/1.0 (+1)	912 (-7%)	6mo	$125,000	$137	49
3011 Forest Ave	0.69mi	2/1.0 (+1)	900 (-8%)	4mo	$135,000	$150	46
3400 Mount Vernon Ave	0.71mi	2/1.0 (+1)	851 (-13%)	5mo	$125,000	$147	36
2725 Marion Ave	0.74mi	2/1.0 (+1)	1,113 (+14%)	8mo	$140,000	$126	31

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: -5.1%
• Equity multiple: 0.81×
• Total profit: $-5,267
• Equity at exit: $14,761

10-year hold

• IRR: 4.5%
• Equity multiple: 1.33×
• Total profit: $9,182
• Equity at exit: $8,560

Cash invested: $27,720 (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 47712

• Home prices YoY: -32.1%
• Active inventory: 134
• Price-to-rent: 8.5×

Monthly cashflow live

• Estimated rent: $971 high
• Mortgage (P&I): −$519
• Tax from tax record: −$37 /mo · $440/yr
• Insurance: −$41
• HOA: −$0
• Vacancy / Maint / Mgmt: −$204
• Net cashflow: $170

Break-even live

Break-even rent $756

Max offer price $99,000

Occupancy floor 78%

Sensitivity live

Price	-10% $226	-5% $198	+0% $170	+5% $142	+10% $114
Rent	-10% $93	-5% $131	+0% $170	+5% $208	+10% $246
Rate	-1.0pp $220	-0.5pp $195	base $170	+0.5pp $144	+1.0pp $118

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: $24,750
• Closing costs: $2,970
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2708 W Franklin St Unit 4 Evansville, IN	2.0	1.0	1100	$900	$0.82	21d	1	0.30mi
2517 W Illinois St Evansville, IN	2.0	1.0	938	$960	$1.02	21d	1	0.35mi
406 Wills Ave Evansville, IN	2.0	1.0	832	$1,295	$1.56	14d	1	0.79mi
3308 Forest Ave Evansville, IN	1.0	1.0	900	$750	$0.83	14d	1	0.88mi
2727 Austin Ave Evansville, IN	2.0	1.0	952	$1,495	$1.57	21d	1	0.89mi
3200 Edgewood Dr Evansville, IN	2.0	1.0	720	$1,295	$1.80	14d	1	0.90mi
1306 W Missouri St Evansville, IN	2.0	1.0	800	$950	$1.19	14d	1	1.15mi
409 S Bosse Ave Evansville, IN	2.0	1.0	1050	$985	$0.94	21d	1	1.50mi

Listing history 13 events

1. 2026-06-13
   status $99,000 Pending 28 DOM
2. 2026-06-10
   days on market $99,000 Active 28 DOM
3. 2026-06-09
   days on market $99,000 Active 27 DOM
4. 2026-06-08
   days on market $99,000 Active 26 DOM
5. 2026-06-07
   days on market $99,000 Active 25 DOM
6. 2026-06-02
   days on market $99,000 Active 20 DOM
7. 2026-06-01
   days on market $99,000 Active 19 DOM
8. 2026-05-31
   days on market $99,000 Active 18 DOM
9. 2026-05-30
   days on market $99,000 Active 17 DOM
10. 2026-05-13
    listed $99,000 Active
11. 2016-06-28
    soldstatus $84,500 665-char remark

    Show marketing remark (665 chars)

    Well cared for and on the Westside. .. .This 2 bedroom home showcases 9' ceilings and 6" trim throughout. The Kitchen includes all appliances and is accented by a sparkling glass backsplash, making it feel light and airy. The Living Room is well lit by 2 large windows and a full view front storm door. The spacious Master Bedroom features a full wall of closets. Enjoy the covered back porch this summer. A beautiful tree, shrubbery, and a landscaped area border the walk to the 2 car garage, which is accessed by the alley way. The covered front porch is clay-colored restored concrete and complements the tasteful, freshly-painted, soft green colored, home.

12. 2016-05-05
    listed $84,900 665-char remark

    Show marketing remark (665 chars)

    Well cared for and on the Westside. .. .This 2 bedroom home showcases 9' ceilings and 6" trim throughout. The Kitchen includes all appliances and is accented by a sparkling glass backsplash, making it feel light and airy. The Living Room is well lit by 2 large windows and a full view front storm door. The spacious Master Bedroom features a full wall of closets. Enjoy the covered back porch this summer. A beautiful tree, shrubbery, and a landscaped area border the walk to the 2 car garage, which is accessed by the alley way. The covered front porch is clay-colored restored concrete and complements the tasteful, freshly-painted, soft green colored, home.

13. 2015-10-22
    listed $85,900

ⓘ 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: $440 · $37/mo
• Projected year-2 tax: $641 · $53/mo
• Expected delta: +$201/yr (+$17/mo · 45.7%)

ⓘ 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 (unshaded) · 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 4% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 3 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $11,649
• − Mortgage interest: −$5,546
• − Property taxes: −$440
• − Insurance: −$495
• − Repairs & maintenance: −$932
• − Management: −$932
• − Depreciation: −$2,880
• Taxable income: $424
• Est. tax owed @ 24.0%: −$102
• After-tax cash flow: $1,936/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): 25,444
• Household income: $68,494
• Rent vs Own: 34.6% rent · 65.4% own
• Severe rent burden: 797.0

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 (91%)
• Race & ethnicity: White 91% Two or more races 4% Hispanic / Latino 2% Black 2% Asian 2%
• Common ancestry: Romanian 3% Lithuanian 2% Italian 1%
• Foreign-born: 2% · China, Canada
• Languages at home: 97% English-only · Spanish 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: ▼ -101.86%
• Current HPI: 215.5153
• Rent YoY: —
• 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

+15.3% since first listed

4 events — show timeline

• 2026-05-13 Listed $99,000 IRMLS
• 2016-06-28 Sold (MLS) $84,500 IRMLS
• 2016-05-05 Listed $84,900 IRMLS
• 2015-10-22 Listed $85,900 IRMLS

Property tax history

-0.8%/yr

Latest (2024): $440 · +4.8% YoY. Source: county tax records.