800 E Virginia St · Evansville, IN 47711

$119,995

2 bd · 1.0 ba · 1,066 sqft · SingleFamily public records · 72 Days on market

Built 1921 6,970 sqft lot

---

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 +15.1/30.0
• ARV discount +7.5/15.0
• DSCR +4.6/10.0
• Rent growth +4.2/5.0
• 1% rule +3.5/10.0
• Schools +3.3/10.0
• Livability +3.2/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Great opportunity to own this recently updated 2 bed/1 bath home that sits on a double lot and is located on Evansville’s northeast side. This home offers a spacious layout and has brand new LVT flooring and fresh neutral paint throughout. A laundry room is conveniently located upstairs and the unfinished basement offers additional storage space. Outside you will find a newly fenced backyard and a 1 car detached garage. Currently used as an income producing property that rents for $770 per month, this house would make an excellent addition to your rental portfolio or be a great place for the new owner to just call home. Updates include updated plumbing, water heater(2021), new hvac, roof, siding, fence, flooring, and paint. Please do not disturb tenants or approach property without an appointment.

Key facts

• Pocket doors
• Butler's pantry
• Gas stove

Tags

• ORIGINAL WOODWORK
• FIREPLACE MANTEL
• POCKET DOORS
• BUTLER'S PANTRY
• GAS STOVE
• ISLAND

Property features AI

Exterior

• Parking: Detached garage with garage door opener; Off-street parking
• Utilities: Public water; Public sewer
• Home design: Single-family residence; Site-built home; 1 story
• Construction: Vinyl siding; Block foundation; Asphalt roof; Built as a site-built home
• Exterior features: Covered porch; Porch

Interior

• Kitchen: Microwave; Gas range
• Bedrooms: Master on main level
• Flooring: Vinyl flooring
• Bathrooms: 1 full bathroom (main level)
• Heating & cooling: Forced air heating (natural gas); Central air conditioning
• Interior features: Kitchen island; Master bedroom on main level; Living room wood-burning fireplace
• Laundry & utility: Laundry on main level; Gas water heater

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $120k.

Deal economics

• At list price, monthly cash flow is $39 ($470/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 $102k (15.1% below list).
• Recommended offer: $102k (15.1% below list) — sets the bar for 1% rule.
• Cap rate 6.7% 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: Lincoln School (math 12% / reading 17%, grade F, #862 of 994 statewide, top 88%, 236 students, 88% FRL); Central High School (math 38% / reading 74%, grade C, #73 of 369 statewide, top 20%, 1,090 students, 52% FRL) — zoned schools average 70% FRL vs 50% district-wide (20 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising fast (+6.7%/yr); 234 active listings in the ZIP; 31 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 $829 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 72 days — a 6% lower offer ($113k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 10y ago; this cycle's ask has dropped $9k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $75k; list at $120k implies a 60% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1921 — 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 $101,864 (15.1% below list)

Questions for the listing agent

1. It's been on market 72 days. Have you received any prior offers? Is the seller open to a 15% concession, seller financing, or rate buy-down credit?
2. Built in 1921 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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?
8. 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.
9. 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.
10. 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: 0.85% ✗
• Cap rate: 6.68%
• Cash-on-cash: 1.40%
• DSCR: 1.06
• GRM: 9.8

CMA / ARV

• ARV (on-the-fly): $67,158
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
416 E Michigan St	0.34mi	2/1.0	1,090 (+2%)	0mo	$50,000	$46	80
614 E Iowa St	0.20mi	2/1.0	1,176 (+10%)	7mo	$119,900	$102	68
313 E Iowa St	0.41mi	2/1.0	1,116 (+5%)	8mo	$69,900	$63	67
812 N Garvin St	0.34mi	2/1.0	978 (-8%)	6mo	$64,900	$66	65
1311 N Garvin St	0.58mi	2/1.0	1,016 (-5%)	6mo	$126,000	$124	60
416 S Garvin St	0.68mi	2/1.0	1,024 (-4%)	3mo	$38,750	$38	59
1108 Garvin St	0.47mi	2/1.0	976 (-8%)	8mo	$110,000	$113	58
311 E Oregon St	0.50mi	2/1.0	950 (-11%)	5mo	$17,000	$18	54
503 S Grand Ave	0.74mi	2/1.0	1,000 (-6%)	7mo	$60,000	$60	50
1303 E Indiana St	0.69mi	2/1.0	962 (-10%)	5mo	$22,000	$23	48
318 E Eichel Ave	0.74mi	2/1.0	1,158 (+9%)	7mo	$72,000	$62	46
424 S Linwood Ave	0.66mi	3/2.0 (+1)	990 (-7%)	5mo	$155,000	$157	44

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 · 6.72% rent growth · sell at horizon

5-year hold

• IRR: -10.3%
• Equity multiple: 0.61×
• Total profit: $-13,020
• Equity at exit: $17,892

10-year hold

• IRR: 3.3%
• Equity multiple: 1.28×
• Total profit: $9,299
• Equity at exit: $10,375

Cash invested: $33,599 (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 47711

• Home prices YoY: -32.3%
• Rents YoY: 6.7%
• Active inventory: 234
• Price-to-rent: 9.8×

Monthly cashflow live

• Estimated rent: $1,019 high
• Mortgage (P&I): −$629
• Tax from tax record: −$86 /mo · $1,036/yr
• Insurance: −$50
• HOA: −$0
• Vacancy / Maint / Mgmt: −$214
• Net cashflow: $39

Break-even live

Break-even rent $969

Max offer price $119,995

Occupancy floor 91%

Sensitivity live

Price	-10% $107	-5% $73	+0% $39	+5% $5	+10% $-29
Rent	-10% $-41	-5% $-1	+0% $39	+5% $79	+10% $120
Rate	-1.0pp $100	-0.5pp $70	base $39	+0.5pp $8	+1.0pp $-24

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: $29,999
• Closing costs: $3,600
• Reserves months: —
• Total cash needed: —

Rent comps 31 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
304 S Grand Ave Evansville, IN	2.0	1.0	967	$955	$0.99	23d	1	0.55mi
610 N Main St Evansville, IN	2.0	1.0	751	$675	$0.90	23d	1	0.66mi
1303 E Indiana St Evansville, IN	2.0	1.0	975	$1,195	$1.23	15d	1	0.69mi
200 N Main St Evansville, IN	2.0	1.0–2.0	857	$1,599	$1.86	15d	7	0.71mi
1321 E Indiana St Evansville, IN	2.0	1.0	964	$1,050	$1.09	15d	1	0.72mi
507 S Evans Ave Evansville, IN	2.0	1.0	750	$795	$1.06	23d	1	0.72mi
41 W Division St Apt 200 Evansville, IN	2.0	2.0	1083	$1,500	$1.39	23d	1	0.80mi
1415 E Indiana St Evansville, IN	2.0	1.0	814	$795	$0.98	15d	1	0.83mi
1018 Baker Ave Unit B Evansville, IN	1.0	1.0	800	$625	$0.78	23d	1	0.85mi
32 W Tennessee St Evansville, IN	2.0	1.0	864	$925	$1.07	15d	1	0.92mi
706 Court St Evansville, IN	2.0	1.5	1100	$850	$0.77	23d	1	1.05mi
734 Bayard Park Dr Evansville, IN	3.0	2.0	1000	$1,425	$1.43	23d	1	1.05mi
313 NW Martin Luther King Junior Blvd Unit 311 Evansville, IN	2.0	1.0	1200	$950	$0.79	23d	1	1.06mi
24 NW 6th St Apt 103 Evansville, IN	1.0	1.0	706	$1,300	$1.84	23d	1	1.15mi
1133 Bayard Park Dr Unit B Evansville, IN	2.0	1.0	990	$800	$0.81	23d	1	1.18mi
400 NW 5th St Unit 4 Evansville, IN	2.0	1.0	792	$725	$0.92	23d	1	1.22mi
329 Main St Evansville, IN	1.0–2.0	1.0–2.0	717	$1,505	$2.10	15d	1	1.28mi
827 Judson St Evansville, IN	3.0	1.0	1008	$1,295	$1.28	15d	1	1.29mi
300 Main St Unit 1 D3 Evansville, IN	1.0	1.0	800	$2,000	$2.50	23d	1	1.33mi
210 S Weinbach Ave Evansville, IN	3.0	1.0	1080	$1,450	$1.34	23d	1	1.34mi
1219 Joan Ave Unit 1219 Evansville, IN	2.0	1.0	725	$845	$1.17	15d	1	1.34mi
2501 N Evans Ave Unit A Evansville, IN	2.0	1.0	856	$900	$1.05	23d	1	1.35mi
941 Stanley Ave Unit A Evansville, IN	1.0	1.0	850	$800	$0.94	23d	1	1.40mi
913 N Spring St Evansville, IN	3.0	1.5	1232	$1,350	$1.10	15d	1	1.40mi
924 SE 6th St Unit A Evansville, IN	1.0	1.0	800	$875	$1.09	23d	1	1.41mi
615 SE 3rd St Unit D Evansville, IN	1.0	1.0	1122	$895	$0.80	23d	1	1.43mi
8 E Blackford Ave Evansville, IN	1.0	1.0	750	$825	$1.10	23d	1	1.44mi
100 SE 1st St Evansville, IN	1.0–2.0	1.0–2.0	715	$1,725	$2.41	15d	17	1.47mi
202 SE 1st St Evansville, IN	1.0–2.0	1.0	926	$2,449	$2.64	23d	4	1.47mi
1021 Jefferson Ave Evansville, IN	1.0	1.0	798	$795	$1.00	15d	1	1.48mi
322 SE 1st St Evansville, IN	1.0–2.0	1.0	1100	$1,700	$1.55	23d	6	1.49mi

Listing history 10 events

1. 2026-05-24
   status Pending
2. 2026-05-06
   price $119,995
3. 2026-03-13
   listed $129,000 Active
4. 2025-09-09
   soldstatus $75,000 Closed 814-char remark

   Show marketing remark (814 chars)

   Great opportunity to own this recently updated 2 bed/1 bath home that sits on a double lot and is located on Evansville’s northeast side. This home offers a spacious layout and has brand new LVT flooring and fresh neutral paint throughout. A laundry room is conveniently located upstairs and the unfinished basement offers additional storage space. Outside you will find a newly fenced backyard and a 1 car detached garage. Currently used as an income producing property that rents for $770 per month, this house would make an excellent addition to your rental portfolio or be a great place for the new owner to just call home. Updates include updated plumbing, water heater(2021), new hvac, roof, siding, fence, flooring, and paint. Please do not disturb tenants or approach property without an appointment.

5. 2025-08-15
   status Pending 814-char remark

   Show marketing remark (814 chars)

   Great opportunity to own this recently updated 2 bed/1 bath home that sits on a double lot and is located on Evansville’s northeast side. This home offers a spacious layout and has brand new LVT flooring and fresh neutral paint throughout. A laundry room is conveniently located upstairs and the unfinished basement offers additional storage space. Outside you will find a newly fenced backyard and a 1 car detached garage. Currently used as an income producing property that rents for $770 per month, this house would make an excellent addition to your rental portfolio or be a great place for the new owner to just call home. Updates include updated plumbing, water heater(2021), new hvac, roof, siding, fence, flooring, and paint. Please do not disturb tenants or approach property without an appointment.

6. 2025-07-01
   price $80,000 814-char remark

   Show marketing remark (814 chars)

   Great opportunity to own this recently updated 2 bed/1 bath home that sits on a double lot and is located on Evansville’s northeast side. This home offers a spacious layout and has brand new LVT flooring and fresh neutral paint throughout. A laundry room is conveniently located upstairs and the unfinished basement offers additional storage space. Outside you will find a newly fenced backyard and a 1 car detached garage. Currently used as an income producing property that rents for $770 per month, this house would make an excellent addition to your rental portfolio or be a great place for the new owner to just call home. Updates include updated plumbing, water heater(2021), new hvac, roof, siding, fence, flooring, and paint. Please do not disturb tenants or approach property without an appointment.

7. 2025-05-27
   listed $85,000 Active 814-char remark

   Show marketing remark (814 chars)

   Great opportunity to own this recently updated 2 bed/1 bath home that sits on a double lot and is located on Evansville’s northeast side. This home offers a spacious layout and has brand new LVT flooring and fresh neutral paint throughout. A laundry room is conveniently located upstairs and the unfinished basement offers additional storage space. Outside you will find a newly fenced backyard and a 1 car detached garage. Currently used as an income producing property that rents for $770 per month, this house would make an excellent addition to your rental portfolio or be a great place for the new owner to just call home. Updates include updated plumbing, water heater(2021), new hvac, roof, siding, fence, flooring, and paint. Please do not disturb tenants or approach property without an appointment.

8. 2022-06-03
   soldstatus $40,000 367-char remark

   Show marketing remark (367 chars)

   Great investment opportunity. Home has lots of the original woodwork, fireplace mantle, and pocket doors (need adjustment). High ceilings & large rooms. Restore back to its original decor or modernize. .. .either way, the potential for a very nice home at a reasonable price is right here. Unfinished basement, detached 1 car garage, and an extra lot for space.

9. 2022-05-18
   listed $40,000 367-char remark

   Show marketing remark (367 chars)

   Great investment opportunity. Home has lots of the original woodwork, fireplace mantle, and pocket doors (need adjustment). High ceilings & large rooms. Restore back to its original decor or modernize. .. .either way, the potential for a very nice home at a reasonable price is right here. Unfinished basement, detached 1 car garage, and an extra lot for space.

10. 2016-08-23
    listed $37,900

ⓘ 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: $1,036 · $86/mo
• Projected year-2 tax: $1,036 · $86/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 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 4/10 Moderate 3 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $12,224
• − Mortgage interest: −$6,722
• − Property taxes: −$1,036
• − Insurance: −$600
• − Repairs & maintenance: −$978
• − Management: −$978
• − Depreciation: −$3,491
• Taxable loss: −$1,580
• Est. tax savings @ 24.0%: +$379
• After-tax cash flow: $849/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): 30,944
• Household income: $66,320
• Rent vs Own: 24.4% rent · 75.6% own
• Severe rent burden: 659.0

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 (85%)
• Race & ethnicity: White 85% Black 8% Two or more races 5% Hispanic / Latino 2%
• Common ancestry: Lithuanian 2% Romanian 2% Slovak 1%
• Foreign-born: 2% · Canada
• Languages at home: 97% English-only · Spanish 2%

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: ▼ -97.98%
• Current HPI: 205.62
• Rent YoY: ▲ 6.72%
• 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

+216.6% since first listed

10 events — show timeline

• 2026-05-24 Pending — IRMLS
• 2026-05-06 Price Changed $119,995 IRMLS
• 2026-03-13 Listed $129,000 IRMLS
• 2025-09-09 Sold (MLS) $75,000 IRMLS
• 2025-08-15 Pending — IRMLS
• 2025-07-01 Price Changed $80,000 IRMLS
• 2025-05-27 Listed $85,000 IRMLS
• 2022-06-03 Sold (MLS) $40,000 IRMLS
• 2022-05-18 Listed $40,000 IRMLS
• 2016-08-23 Listed $37,900 IRMLS

Property tax history

-1.7%/yr

Latest (2024): $1,036 · +1.9% YoY. Source: county tax records.