1723 S Bedford Ave · Evansville, IN 47713

$89,000

3 bd · 1.0 ba · 1,080 sqft · SingleFamily public records · 17 Days on market

Built 1919 6,970 sqft lot Est $134k · 34% under

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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
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +7.9/10.0
• Rent growth +5.0/5.0
• Schools +3.3/10.0
• Livability +3.2/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Solid one story home with three bedrooms. Big living room, formal dining room, and open porch. A large backyard, within walking distance from elementary and middle school.

Key facts

• 6,970 sq ft lot
• Built 1919
• Listed 17 days

Property features AI

Exterior

• Parking: Off-street parking
• Utilities: Public water; Public sewer
• Home design: Single-family site-built home; One story
• Construction: Brick and wood siding construction
• Exterior features: Covered porch; Chain link fencing; Shed on property; Level lot

Interior

• Kitchen: Refrigerator; Electric range
• Bathrooms: 1 full bathroom (main level)
• Heating & cooling: Natural gas forced air heating; Central air conditioning
• Interior features: Refrigerator; Electric range
• Laundry & utility: Laundry located in basement; Full, unfinished basement

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $89k.

Deal economics

• At list price, monthly cash flow is $335 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $89k).
• Recommended offer: $88k (1.5% below list) — sets the bar for market timing.
• Cap rate 10.8% 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: Glenwood Leadership Academy (math 10% / reading 12%, grade F, #909 of 994 statewide, top 92%, 416 students, 88% FRL) — zoned schools average 88% FRL vs 50% district-wide (38 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 11% at this address vs 40% district-wide (-28 pts) — the specific schools serving this property underperform the Evansville Vanderburgh School Corporation average; the district grade overstates school quality for this exact location.
• Market conditions: Rents rising fast (+9.9%/yr); 118 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); lower-income renter base — watch delinquency; 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 $615 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 8.0% rent growth), your $25k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 17 days — a 2% lower offer ($88k) 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 $12k; list at $89k implies a 642% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1919 — 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 $87,665 (1.5% below list)

Questions for the listing agent

1. Built in 1919 — 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: 1.29% ✓
• Cap rate: 10.81%
• Cash-on-cash: 16.13%
• DSCR: 1.72
• GRM: 6.4

CMA / ARV

• ARV (on-the-fly): $133,920
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1921 Shadewood Ave	0.20mi	3/1.0	1,037 (-4%)	3mo	$135,000	$130	81
711 Waggoner Ave	0.21mi	2/1.0 (-1)	991 (-8%)	1mo	$45,000	$45	70
1059 Waggoner Ave	0.25mi	2/2.0 (-1)	1,150 (+6%)	1mo	$125,000	$109	67
1107 S Evans Ave	0.63mi	2/1.0 (-1)	1,096 (+2%)	0mo	$100,000	$91	63
1320 S Governor St	0.63mi	2/1.0 (-1)	1,048 (-3%)	3mo	$32,500	$31	59
1903 S Kerth Ave	0.29mi	3/2.0	1,214 (+12%)	5mo	$150,000	$124	58
613 Madison Ave	0.61mi	3/1.0	1,176 (+9%)	4mo	$165,000	$140	53
1401 Lodge Ave	0.73mi	3/1.0	990 (-8%)	0mo	$145,000	$146	52
1317 S Linwood Ave	0.46mi	2/1.5 (-1)	975 (-10%)	4mo	$135,000	$138	52
1425 Covert Ave	0.72mi	3/1.0	1,183 (+10%)	1mo	$118,000	$100	50
807 Prosperity Ave	0.50mi	2/1.5 (-1)	1,232 (+14%)	0mo	$70,000	$57	46
1410 Sweetser Ave	0.67mi	2/1.0 (-1)	928 (-14%)	1mo	$165,000	$178	39

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 · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 12.4%
• Equity multiple: 1.52×
• Total profit: $12,993
• Equity at exit: $13,270

10-year hold

• IRR: 24.8%
• Equity multiple: 3.67×
• Total profit: $66,459
• Equity at exit: $7,695

Cash invested: $24,920 (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 47713

• Home prices YoY: -34.1%
• Rents YoY: 9.9%
• Active inventory: 118
• Price-to-rent: 6.4×

Monthly cashflow live

• Estimated rent: $1,152 high
• Mortgage (P&I): −$467
• Tax from tax record: −$71 /mo · $852/yr
• Insurance: −$37
• HOA: −$0
• Vacancy / Maint / Mgmt: −$242
• Net cashflow: $335

Break-even live

Break-even rent $728

Max offer price $89,000

Occupancy floor 66%

Sensitivity live

Price	-10% $385	-5% $360	+0% $335	+5% $310	+10% $285
Rent	-10% $244	-5% $289	+0% $335	+5% $380	+10% $426
Rate	-1.0pp $380	-0.5pp $358	base $335	+0.5pp $312	+1.0pp $288

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: $22,250
• Closing costs: $2,670
• Reserves months: —
• Total cash needed: —

Rent comps 18 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
715 E Riverside Dr Evansville, IN	2.0	1.0	806	$895	$1.11	21d	1	0.23mi
638 Jackson Ave Evansville, IN	4.0	1.0	1176	$1,495	$1.27	21d	1	0.47mi
1500 S Harlan Ave Evansville, IN	2.0	1.0	712	$900	$1.26	14d	1	0.53mi
605 Madison Ave Evansville, IN	2.0	1.0	1069	$1,375	$1.29	21d	1	0.62mi
1505 Jackson Ave Evansville, IN	2.0	1.0	780	$995	$1.28	21d	1	0.81mi
734 Bayard Park Dr Evansville, IN	3.0	2.0	1000	$1,425	$1.43	21d	1	0.97mi
1133 Bayard Park Dr Unit B Evansville, IN	2.0	1.0	990	$800	$0.81	21d	1	0.97mi
2340 Sunburst Blvd Unit 2270-318 Evansville, IN	2.0	1.0	815	$900	$1.10	21d	1	1.00mi
2340 Sunburst Blvd Unit 2200-202 Evansville, IN	3.0	1.0	973	$1,050	$1.08	21d	1	1.00mi
827 Judson St Evansville, IN	3.0	1.0	1008	$1,295	$1.28	14d	1	1.04mi
17 Washington Ave Evansville, IN	2.0	1.0	882	$1,455	$1.65	21d	1	1.07mi
1909 Plantation Ct Evansville, IN	2.0	1.0	780	$700	$0.90	21d	2	1.08mi
1909 Taylor Ave Evansville, IN	2.0	1.0	700	$1,200	$1.71	14d	1	1.10mi
1952 Colts Ln Evansville, IN	1.0–3.0	1.0	1146	$1,275	$1.11	21d	8	1.11mi
1762 Spring Ct Evansville, IN	2.0	1.0	975	$1,450	$1.49	21d	1	1.25mi
1604 Marbo Ave Evansville, IN	2.0	1.0	900	$1,095	$1.22	21d	1	1.27mi
507 S Evans Ave Evansville, IN	2.0	1.0	750	$795	$1.06	21d	1	1.29mi
304 S Grand Ave Evansville, IN	2.0	1.0	967	$955	$0.99	21d	1	1.47mi

Listing history 12 events

1. 2026-06-18
   days on market $89,000 Active 17 DOM
2. 2026-06-17
   days on market $89,000 Active 16 DOM
3. 2026-06-16
   days on market $89,000 Active 15 DOM
4. 2026-06-15
   days on market $89,000 Active 14 DOM
5. 2026-06-14
   days on market $89,000 Active 12 DOM
6. 2026-06-13
   days on market $89,000 Active 11 DOM
7. 2026-06-10
   days on market $89,000 Active 9 DOM
8. 2026-06-09
   days on market $89,000 Active 8 DOM
9. 2026-06-08
   days on market $89,000 Active 7 DOM
10. 2026-06-07
    days on market $89,000 Active 6 DOM
11. 2026-06-02
    remarks 511-char remark
12. 2026-06-02
    listed $89,000 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: $852 · $71/mo
• Projected year-2 tax: $852 · $71/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 (shaded) · 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: $13,820
• − Mortgage interest: −$4,985
• − Property taxes: −$852
• − Insurance: −$445
• − Repairs & maintenance: −$1,106
• − Management: −$1,106
• − Depreciation: −$2,589
• Taxable income: $2,737
• Est. tax owed @ 24.0%: −$657
• After-tax cash flow: $3,363/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): 9,988
• Household income: $40,873
• Rent vs Own: 61.6% rent · 38.4% own
• Severe rent burden: 735.0

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: Diverse neighborhood (Simpson 0.60)
• Race & ethnicity: White 50% Black 39% Two or more races 7% Hispanic / Latino 3% Pacific Islander 1% Asian 1%
• Common ancestry: Romanian 2% Lithuanian 1% Italian 1%
• Foreign-born: 5% · Canada
• Languages at home: 96% English-only · Spanish 2% Tagalog/Filipino 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: ▼ -119.22%
• Current HPI: 229.9312
• Rent YoY: ▲ 9.87%
• 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

+386.3% since first listed

4 events — show timeline

• 2026-06-01 Listed $89,000 IRMLS
• 2025-10-27 Listed $99,900 IRMLS
• 2015-11-30 Sold (MLS) $12,000 IRMLS
• 2015-09-18 Listed $18,300 IRMLS

Property tax history

-5.3%/yr

Latest (2024): $852 · +2.0% YoY. Source: county tax records.