314 S Welworth Ave · Evansville, IN 47714

$140,000

2 bd · 2.0 ba · 1,320 sqft · SingleFamily public records · 3 Days on market

Built 1935 3,485 sqft lot Est $172k · 18% under ↓ 7% since listing

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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 +17.7/30.0
• ARV discount +15.0/15.0
• DSCR +5.5/10.0
• Rent growth +4.5/5.0
• 1% rule +3.9/10.0
• Schools +3.3/10.0
• Livability +3.2/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

This wonderful 2 bed, 2 bath updated home offers lots of charm and is located in the heart of Evansville's East side. The floorplan offers a great room that is the perfect place for family and friends to gather. The kitchen offers a an island with cabinetry and new tiled backsplash. The main level also features the owners suite, which includes an attached full bath with tub. The 2nd level offers a bedroom with access to the full hall bath with stand up shower, as well as a laundry area. The lower level is partially finished and could be enclosed to make a 3rd bedroom. Lastly the home offers off street parking and a fenced in backyard. This home is located with easy access to shopping & dining!

Key facts

• Covered front porch
• Spacious yard
• Separate entrance

Tags

• COVERED FRONT PORCH
• OVERSIZED BONUS ROOM
• SEPARATE ENTRANCE
• HUGE ATTIC
• SPACIOUS YARD
• MATURE SHADE TREES

Property features AI

Exterior

• Parking: Concrete off-street parking
• Utilities: Public water; Public sewer
• Home design: Single-family residence; Site-built home; One-story
• Construction: Aluminum siding; Shingle roof; Built as site-built construction
• Exterior features: Covered porch; Patio/porch; Level lot; Chain link and privacy fencing (full fenced)

Interior

• Kitchen: Refrigerator; Electric range
• Bedrooms: Primary suite on the main level
• Flooring: Hardwood; Carpet; Vinyl
• Bathrooms: 2 full bathrooms; 1 bathroom on the main level
• Heating & cooling: Natural gas forced-air heating; Central air conditioning; Has heating and cooling
• Interior features: Eat-in kitchen; Kitchen island; Primary bedroom on main level; Crawl space basement
• Laundry & utility: Washer; Dryer; Main-level laundry

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath single-family listed at $140k.

Deal economics

• At list price, monthly cash flow is $112 ($1k/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 $125k (11.0% below list).
• Recommended offer: $125k (11.0% below list) — sets the bar for 1% rule.
• Cap rate 7.3% 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: Harper Elementary School (math 32% / reading 27%, grade F, #697 of 994 statewide, top 73%, 337 students, 74% FRL); Washington Middle School (math 14% / reading 24%, grade F, #274 of 330 statewide, top 83%, 353 students, 70% FRL); New Tech Institute (math 34% / reading 74%, grade C-, #79 of 369 statewide, top 26%, 275 students, 40% FRL).
• Market conditions: Rents rising fast (+7.9%/yr); 191 active listings in the ZIP; 12 comparable units currently listed for rent nearby; rentals at typical pace (median 24d 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 $968 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 $39k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts 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 $105k; 33% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1935 — 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 $124,570 (11.0% below list)

Questions for the listing agent

1. Built in 1935 — 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: 0.89% ✗
• Cap rate: 7.26%
• Cash-on-cash: 3.44%
• DSCR: 1.15
• GRM: 9.4

CMA / ARV

• ARV (on-the-fly): $171,600
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
103 S Welworth Ave	0.16mi	2/1.0	1,304 (-1%)	6mo	$164,000	$126	82
3103 Lincoln Ave	0.29mi	2/2.0	1,287 (-2%)	11mo	$155,000	$120	73
314 S Welworth Ave	0.00mi	2/2.0	1,480 (+12%)	9mo	$105,000	$71	72
3013 E Cherry St	0.17mi	2/1.0	1,405 (+6%)	11mo	$197,000	$140	68
763 S Villa Dr	0.54mi	2/1.0	1,276 (-3%)	1mo	$229,000	$179	64
2805 E Oak St	0.28mi	3/1.5 (+1)	1,365 (+3%)	13mo	$174,000	$127	63
312 S Villa Dr	0.17mi	2/1.5	1,176 (-11%)	12mo	$96,000	$82	62
3203 E Blackford Ave	0.74mi	3/2.0 (+1)	1,287 (-2%)	0mo	$255,000	$198	56
117 S Boeke Rd	0.48mi	3/1.0 (+1)	1,396 (+6%)	4mo	$200,000	$143	56
100 S Fairlawn Ave	0.65mi	2/1.0	1,397 (+6%)	9mo	$136,000	$97	48
2333 E Illinois St	0.62mi	3/1.0 (+1)	1,194 (-10%)	6mo	$155,000	$130	41
3311 E Chandler Ave	0.63mi	2/1.5	1,506 (+14%)	8mo	$205,000	$136	38

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: -6.0%
• Equity multiple: 0.77×
• Total profit: $-9,184
• Equity at exit: $20,874

10-year hold

• IRR: 8.4%
• Equity multiple: 1.77×
• Total profit: $30,047
• Equity at exit: $12,105

Cash invested: $39,200 (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 47714

• Rents YoY: 7.9%
• Active inventory: 191
• Price-to-rent: 9.4×

Monthly cashflow live

• Estimated rent: $1,246 high
• Mortgage (P&I): −$734
• Tax from tax record: −$79 /mo · $952/yr
• Insurance: −$58
• HOA: −$0
• Vacancy / Maint / Mgmt: −$262
• Net cashflow: $112

Break-even live

Break-even rent $1,104

Max offer price $140,000

Occupancy floor 86%

Sensitivity live

Price	-10% $192	-5% $152	+0% $112	+5% $73	+10% $33
Rent	-10% $14	-5% $63	+0% $112	+5% $161	+10% $211
Rate	-1.0pp $183	-0.5pp $148	base $112	+0.5pp $76	+1.0pp $39

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: $35,000
• Closing costs: $4,200
• Reserves months: —
• Total cash needed: —

Rent comps 12 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
900 S Saint James Blvd Evansville, IN	3.0	2.0	1118	$1,450	$1.30	23d	1	0.73mi
210 S Weinbach Ave Evansville, IN	3.0	1.0	1080	$1,450	$1.34	23d	1	0.94mi
913 N Spring St Evansville, IN	3.0	1.5	1232	$1,350	$1.10	16d	1	1.14mi
950 S Hebron Ave Apt 301 Evansville, IN	2.0	1.0	1088	$1,900	$1.75	23d	1	1.15mi
1320 Lee Ct Evansville, IN	1.0–4.0	1.0–1.5	1007	$1,032	$1.03	16d	36	1.16mi
4982 Tippecanoe Dr Evansville, IN	1.0–2.0	1.0	897	$910	$1.01	16d	3	1.20mi
2947 Ravenswood Dr Unit 2927 Evansville, IN	2.0	1.0	1150	$975	$0.85	23d	1	1.24mi
1165 Shiloh Sq Evansville, IN	1.0–2.0	1.0–2.0	907	$1,145	$1.26	16d	15	1.25mi
3700 Justus Ct Evansville, IN	1.0–2.0	1.0–2.0	790	$975	$1.23	23d	1	1.25mi
1411 Jeanette Ave Unit 1411 Evansville, IN	3.0	1.5	1210	$1,195	$0.99	23d	1	1.26mi
815 Erie Ave Evansville, IN	1.0–2.0	1.0–2.5	1038	$1,349	$1.30	16d	17	1.35mi
1713 Hawthorne Ave Evansville, IN	3.0	2.0	1204	$1,395	$1.16	23d	1	1.46mi

Listing history 3 events

1. 2026-06-22
   days on market $140,000 Active 3 DOM
2. 2026-06-18
   remarks 525-char remark
3. 2026-06-18
   listed $140,000 Active 1 DOM

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

Tax reassessment forecast IN · Partial reset (capped growth)

• Current annual tax: $952 · $79/mo
• Projected year-2 tax: $1,071 · $89/mo
• Expected delta: +$119/yr (+$10/mo · 12.5%)

ⓘ 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 (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 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: $14,948
• − Mortgage interest: −$7,842
• − Property taxes: −$952
• − Insurance: −$700
• − Repairs & maintenance: −$1,196
• − Management: −$1,196
• − Depreciation: −$4,073
• Taxable loss: −$1,010
• Est. tax savings @ 24.0%: +$242
• After-tax cash flow: $1,590/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

-6.6% since first listed

13 events — show timeline

• 2026-06-18 Listed $140,000 IRMLS
• 2025-09-30 Sold (MLS) $105,000 IRMLS
• 2025-09-05 Pending — IRMLS
• 2025-09-03 Price Changed $109,900 IRMLS
• 2025-08-13 Price Changed $119,900 IRMLS
• 2025-07-21 Price Changed $129,900 IRMLS
• 2025-07-14 Relisted — IRMLS
• 2025-07-10 Pending — IRMLS
• 2025-07-03 Price Changed $134,900 IRMLS
• 2025-06-24 Price Changed $139,900 IRMLS
• 2025-06-05 Relisted — IRMLS
• 2025-05-21 Pending — IRMLS
• 2025-04-23 Listed $149,900 IRMLS

Property tax history

-5.9%/yr

Latest (2024): $952 · +2.1% YoY. Source: county tax records.