1514 E Illinois St · Evansville, IN 47711

$95,000

2 bd · 1.0 ba · 843 sqft · SingleFamily public records · 112 Days on market

Built 1925 3,049 sqft lot Est $139k · 32% 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 +23.5/30.0
• ARV discount +15.0/15.0
• DSCR +7.6/10.0
• 1% rule +5.3/10.0
• Rent growth +4.2/5.0
• Schools +3.3/10.0
• Livability +3.2/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

2 bedroom 1 bath single family home. Sold as part of a package deal (#4) totaling 7 investment properties. Currently vacant. Package includes 1330 E Walnut St. , 1332 E Walnut St. , 545 S Kerth Ave. , 649 E Oregon St. , 1514 E Illinois St. , 720 E Delaware St. , and 223 N Rotherwood Ave. for a total package purchase price of $665,000.00.

Key facts

• 3,049 sq ft lot
• Garage
• Built 1925

Property features AI

Finance

• Other: Taxes not included per instructions
• Financial info: Financial details not specified
• HOA & community: Community features include sidewalks

Exterior

• Parking: Detached garage (about 1.5 car capacity)
• Security: Security features not specified
• Utilities: Public water; Public sewer
• Home design: Single-family residence (site-built); One-story
• Construction: Aluminum siding and brick exterior
• Exterior features: Covered porch; Level lot; Sidewalks in the neighborhood; Asphalt roof

Interior

• Kitchen: Kitchen details not specified
• Bedrooms: Bedrooms not specified
• Flooring: Flooring details not specified
• Bathrooms: 1 full bathroom (main level)
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: Crawl space basement; Main-level laundry; Total of 5 rooms
• Laundry & utility: Laundry on the main level

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $95k.

Deal economics

• At list price, monthly cash flow is $178 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($982 rent vs $95k).
• Recommended offer: $86k (9.0% below list) — sets the bar for market timing.
• Cap rate 8.5% 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: Evans School (math 9% / reading 7%, grade F, #945 of 994 statewide, top 95%, 499 students, 85% FRL); North Junior High School (math 44% / reading 57%, grade C, #43 of 330 statewide, top 14%, 929 students, 42% FRL); North High School (math 57% / reading 74%, grade B, #29 of 369 statewide, top 8%, 1,674 students, 35% FRL) — zoned schools at 54% FRL track the district average.
• Market conditions: Rents rising fast (+6.7%/yr); 229 active listings in the ZIP; 15 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 18% of the median local income ($66k/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 $657 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 6.7% rent growth), your $27k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 112 days — a 9% lower offer ($86k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1925 — 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 $86,450 (9.0% below list)

Questions for the listing agent

1. It's been on market 112 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1925 — 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. 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: 1.03% ✓
• Cap rate: 8.54%
• Cash-on-cash: 8.04%
• DSCR: 1.36
• GRM: 8.1

CMA / ARV

• ARV (on-the-fly): $139,095
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1624 E Illinois St	0.09mi	2/1.0	780 (-8%)	0mo	$129,900	$167	83
1713 E Illinois St	0.18mi	2/1.0	874 (+4%)	6mo	$144,100	$165	81
1625 E Indiana St	0.12mi	2/1.0	792 (-6%)	6mo	$30,000	$38	80
1728 E Franklin St	0.24mi	2/1.0	812 (-4%)	6mo	$64,900	$80	78
1638 E Illinois St	0.11mi	2/1.0	950 (+13%)	1mo	$130,000	$137	72
2037 E Virginia St	0.53mi	2/1.0	822 (-2%)	1mo	$139,900	$170	70
1905 E Franklin St	0.34mi	2/1.0	922 (+9%)	1mo	$149,900	$163	68
1311 E Missouri St	0.60mi	2/1.0	869 (+3%)	3mo	$144,900	$167	64
1303 E Indiana St	0.23mi	2/1.0	962 (+14%)	5mo	$22,000	$23	62
904 N Lincoln Park Dr	0.63mi	3/1.0 (+1)	864 (+2%)	1mo	$186,500	$216	61
2104 Division St	0.55mi	2/2.0	912 (+8%)	4mo	$90,000	$99	54
803 Hercules Ave	0.52mi	2/1.5	758 (-10%)	6mo	$128,500	$170	52

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: -0.2%
• Equity multiple: 0.99×
• Total profit: $-254
• Equity at exit: $14,165

10-year hold

• IRR: 12.7%
• Equity multiple: 2.17×
• Total profit: $31,204
• Equity at exit: $8,214

Cash invested: $26,600 (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 47711

• Home prices YoY: -32.3%
• Rents YoY: 6.7%
• Active inventory: 229
• Price-to-rent: 8.1×

Monthly cashflow live

• Estimated rent: $982 high
• Mortgage (P&I): −$498
• Tax from tax record: −$60 /mo · $723/yr
• Insurance: −$40
• HOA: −$0
• Vacancy / Maint / Mgmt: −$206
• Net cashflow: $178

Break-even live

Break-even rent $757

Max offer price $95,000

Occupancy floor 77%

Sensitivity live

Price	-10% $232	-5% $205	+0% $178	+5% $151	+10% $124
Rent	-10% $101	-5% $139	+0% $178	+5% $217	+10% $256
Rate	-1.0pp $226	-0.5pp $202	base $178	+0.5pp $154	+1.0pp $128

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: $23,750
• Closing costs: $2,850
• Reserves months: —
• Total cash needed: —

Rent comps 15 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1415 E Indiana St Evansville, IN	2.0	1.0	814	$795	$0.98	14d	1	0.09mi
1440 E Division St Evansville, IN	2.0	1.0	689	$1,250	$1.81	14d	1	0.12mi
1321 E Indiana St Evansville, IN	2.0	1.0	964	$1,050	$1.09	14d	1	0.17mi
1680 E Franklin St #1682 Evansville, IN	2.0	1.0	675	$855	$1.27	22d	7	0.19mi
1303 E Indiana St Evansville, IN	2.0	1.0	975	$1,195	$1.23	14d	1	0.20mi
210 S Weinbach Ave Evansville, IN	3.0	1.0	1080	$1,450	$1.34	22d	1	0.51mi
304 S Grand Ave Evansville, IN	2.0	1.0	967	$955	$0.99	22d	1	0.72mi
2151 E Columbia St #2193 Evansville, IN	1.0	1.0	600	$695	$1.16	14d	1	0.73mi
1133 Bayard Park Dr Unit B Evansville, IN	2.0	1.0	990	$800	$0.81	22d	1	0.96mi
507 S Evans Ave Evansville, IN	2.0	1.0	750	$795	$1.06	22d	1	1.00mi
734 Bayard Park Dr Evansville, IN	3.0	2.0	1000	$1,425	$1.43	22d	1	1.23mi
1021 Jefferson Ave Evansville, IN	1.0	1.0	798	$795	$1.00	14d	1	1.35mi
1505 Jackson Ave Evansville, IN	2.0	1.0	780	$995	$1.28	22d	1	1.45mi
1219 Joan Ave Unit 1219 Evansville, IN	2.0	1.0	725	$845	$1.17	14d	1	1.48mi
900 S Saint James Blvd Evansville, IN	3.0	2.0	1118	$1,450	$1.30	22d	1	1.49mi

Listing history 6 events

1. 2026-06-07
   statusdays on market $95,000 Pending 112 DOM
2. 2026-06-02
   days on market $95,000 Active 109 DOM
3. 2026-06-01
   days on market $95,000 Active 108 DOM
4. 2026-05-31
   days on market $95,000 Active 107 DOM
5. 2026-05-30
   days on market $95,000 Active 106 DOM
6. 2026-02-12
   listed $95,000 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: $723 · $60/mo
• Projected year-2 tax: $765 · $64/mo
• Expected delta: +$42/yr (+$4/mo · 5.9%)

ⓘ 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: $11,790
• − Mortgage interest: −$5,321
• − Property taxes: −$723
• − Insurance: −$475
• − Repairs & maintenance: −$943
• − Management: −$943
• − Depreciation: −$2,764
• Taxable income: $620
• Est. tax owed @ 24.0%: −$149
• After-tax cash flow: $1,989/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

1 event — show timeline

• 2026-02-12 Listed $95,000 IRMLS

Property tax history

-5.8%/yr

Latest (2024): $723 · -1.5% YoY. Source: county tax records.