1335 E Franklin St · Evansville, IN 47711

$65,000

2 bd · 1.0 ba · 950 sqft · SingleFamily public records · 275 Days on market

Built 1918 3,202 sqft lot

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Why this score? — see what drove the B 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• 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

Calling On All Investors, Income producing package consisting of 5 Properties. Package deal consist of the following Properties: 909 N 5th $715.00, 921 W Missouri $700.00, 1609 Reinhardt $645 +$40 pet deposit, 1625 Reinhardt $900.00, 1335 Franklin $700, Total package of 6 homes is $325,000.00

Key facts

• 3,202 sq ft lot
• Built 1918
• Listed 275 days

Property features AI

Finance

• Other: Annual tax amount reported (not included per instructions)
• Financial info: No investor or income/expense details provided
• HOA & community: No HOA information provided

Exterior

• Parking: Off-street parking
• Security: No security details provided
• Utilities: Public water; Public sewer
• Home design: Single-story, site-built single family home; Wood siding exterior
• Construction: Wood siding construction; Above-grade finished area reported (950); Partial crawl-space foundation
• Exterior features: Level lot; Lot dimensions approximately 26 x 128

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: Natural gas forced-air heating; Window unit cooling
• Interior features: Crawl space basement (partial)
• Laundry & utility: No laundry details provided

🏷️ Possibly a rental listed for sale. The $65,000 price doesn't fit this home's estimated sale value (~$144,400) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $65k.

Deal economics

• At list price, monthly cash flow is $373 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $65k).
• Recommended offer: $57k (12.0% below list) — sets the bar for market timing.
• Cap rate 13.2% 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; 18 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).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $449 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 6.7% rent growth), your $18k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 275 days — a 12% lower offer ($57k) is reasonable based on typical stale-listing flexibility.
• 8 sale attempts since 10y ago; this cycle's ask has dropped $325k (83%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1918 — 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 $57,200 (12.0% below list)

Questions for the listing agent

1. It's been on market 275 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1918 — 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: 1.55% ✓
• Cap rate: 13.19%
• Cash-on-cash: 24.62%
• DSCR: 2.10
• GRM: 5.4

CMA / ARV

• ARV (on-the-fly): $144,400
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1303 E Indiana St	0.14mi	2/1.0	962 (+1%)	5mo	$22,000	$23	87
1638 E Illinois St	0.26mi	2/1.0	950 (0%)	1mo	$130,000	$137	87
1432 E Franklin St	0.11mi	2/1.0	1,004 (+6%)	3mo	$45,000	$45	83
1423 John St	0.26mi	2/1.0	972 (+2%)	5mo	$99,900	$103	80
1905 E Franklin St	0.48mi	2/1.0	922 (-3%)	1mo	$149,900	$163	72
1409 E Walnut St	0.45mi	2/2.0	1,022 (+8%)	2mo	$155,000	$152	61
1311 E Missouri St	0.52mi	2/1.0	869 (-8%)	3mo	$144,900	$167	59
201 S Willow Rd	0.31mi	3/1.0 (+1)	1,064 (+12%)	3mo	$67,000	$63	58
2104 Division St	0.70mi	2/2.0	912 (-4%)	4mo	$90,000	$99	54
2119 E Virginia St	0.72mi	3/1.0 (+1)	999 (+5%)	2mo	$175,000	$175	52
2037 E Virginia St	0.65mi	2/1.0	822 (-14%)	1mo	$139,900	$170	46
904 N Lincoln Park Dr	0.71mi	3/1.0 (+1)	864 (-9%)	1mo	$186,500	$216	46

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: 22.0%
• Equity multiple: 1.94×
• Total profit: $17,146
• Equity at exit: $9,692

10-year hold

• IRR: 32.3%
• Equity multiple: 4.45×
• Total profit: $62,823
• Equity at exit: $5,620

Cash invested: $18,200 (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 47711

• Home prices YoY: -32.3%
• Rents YoY: 6.7%
• Active inventory: 229
• Price-to-rent: 5.4×

Monthly cashflow live

• Estimated rent: $1,005 high
• Mortgage (P&I): −$341
• Tax from tax record: −$52 /mo · $628/yr
• Insurance: −$27
• HOA: −$0
• Vacancy / Maint / Mgmt: −$211
• Net cashflow: $373

Break-even live

Break-even rent $532

Max offer price $65,000

Occupancy floor 58%

Sensitivity live

Price	-10% $410	-5% $392	+0% $373	+5% $355	+10% $337
Rent	-10% $294	-5% $334	+0% $373	+5% $413	+10% $453
Rate	-1.0pp $406	-0.5pp $390	base $373	+0.5pp $357	+1.0pp $339

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: $16,250
• Closing costs: $1,950
• Reserves months: —
• Total cash needed: —

Rent comps 18 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1321 E Indiana St Evansville, IN	2.0	1.0	964	$1,050	$1.09	14d	1	0.15mi
1303 E Indiana St Evansville, IN	2.0	1.0	975	$1,195	$1.23	14d	1	0.16mi
1415 E Indiana St Evansville, IN	2.0	1.0	814	$795	$0.98	14d	1	0.16mi
1440 E Division St Evansville, IN	2.0	1.0	689	$1,250	$1.81	14d	1	0.20mi
1680 E Franklin St #1682 Evansville, IN	2.0	1.0	675	$855	$1.27	21d	7	0.26mi
210 S Weinbach Ave Evansville, IN	3.0	1.0	1080	$1,450	$1.34	21d	1	0.64mi
304 S Grand Ave Evansville, IN	2.0	1.0	967	$955	$0.99	21d	1	0.67mi
2151 E Columbia St #2193 Evansville, IN	1.0	1.0	600	$695	$1.16	14d	1	0.81mi
507 S Evans Ave Evansville, IN	2.0	1.0	750	$795	$1.06	21d	1	0.95mi
1133 Bayard Park Dr Unit B Evansville, IN	2.0	1.0	990	$800	$0.81	21d	1	0.99mi
734 Bayard Park Dr Evansville, IN	3.0	2.0	1000	$1,425	$1.43	21d	1	1.20mi
1021 Jefferson Ave Evansville, IN	1.0	1.0	798	$795	$1.00	14d	1	1.38mi
610 N Main St Evansville, IN	2.0	1.0	751	$675	$0.90	21d	1	1.38mi
1219 Joan Ave Unit 1219 Evansville, IN	2.0	1.0	725	$845	$1.17	14d	1	1.40mi
200 N Main St Evansville, IN	2.0	1.0–2.0	857	$1,599	$1.86	14d	7	1.40mi
109 E Eichel Ave Unit A Evansville, IN	1.0	1.0	675	$745	$1.10	21d	1	1.45mi
41 W Division St Unit 101 Evansville, IN	1.0	1.0	634	$1,100	$1.74	21d	1	1.47mi
41 W Division St Apt 200 Evansville, IN	2.0	2.0	1083	$1,500	$1.39	21d	1	1.47mi

Listing history 22 events

1. 2026-06-10
   status $65,000 Pending 275 DOM
2. 2026-06-09
   days on market $65,000 Active 275 DOM
3. 2026-06-08
   days on market $65,000 Active 274 DOM
4. 2026-06-07
   days on market $65,000 Active 273 DOM
5. 2026-06-02
   days on market $65,000 Active 268 DOM
6. 2026-06-01
   days on market $65,000 Active 267 DOM
7. 2026-05-31
   days on market $65,000 Active 266 DOM
8. 2026-05-30
   days on market $65,000 Active 265 DOM
9. 2026-05-07
   status Active
10. 2026-05-07
    historical
11. 2025-12-04
    status Active
12. 2025-09-18
    status Active
13. 2025-08-22
    status Pending
14. 2025-07-23
    price $65,000
15. 2025-05-29
    status Active
16. 2025-05-15
    status Pending
17. 2025-05-09
    listed $390,000 Active
18. 2025-01-24
    historical $700
19. 2025-01-09
    listed $700
20. 2023-09-18
    historical
21. 2023-09-13
    listed
22. 2016-05-09
    listed $27,500

ⓘ 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: $628 · $52/mo
• Projected year-2 tax: $628 · $52/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 3/10 Moderate 3 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $12,056
• − Mortgage interest: −$3,641
• − Property taxes: −$628
• − Insurance: −$325
• − Repairs & maintenance: −$964
• − Management: −$964
• − Depreciation: −$1,891
• Taxable income: $3,642
• Est. tax owed @ 24.0%: −$874
• After-tax cash flow: $3,606/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

+136.4% since first listed

14 events — show timeline

• 2026-05-07 Relisted — IRMLS
• 2026-05-07 Delisted — IRMLS
• 2025-12-04 Relisted — IRMLS
• 2025-09-18 Relisted — IRMLS
• 2025-08-22 Pending — IRMLS
• 2025-07-23 Price Changed $65,000 IRMLS
• 2025-05-29 Relisted — IRMLS
• 2025-05-15 Pending — IRMLS
• 2025-05-09 Listed $390,000 IRMLS
• 2025-01-24 Rental Removed $700 APPFOLIO
• 2025-01-09 Listed for Rent $700 APPFOLIO
• 2023-09-18 Rental Removed — APPFOLIO
• 2023-09-13 Listed for Rent — APPFOLIO
• 2016-05-09 Listed $27,500 IRMLS

Property tax history

-1.6%/yr

Latest (2024): $628 · -15.2% YoY. Source: county tax records.