808 Waggoner Ave · Evansville, IN 47713

$89,900

2 bd · 1.0 ba · 984 sqft · SingleFamily public records · 58 Days on market

Built 1924 4,792 sqft lot Est $90k · at est. ↓ 3% 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 +26.0/30.0
• DSCR +8.7/10.0
• ARV discount +7.3/15.0
• 1% rule +6.2/10.0
• 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

This 2 bed, 1 bath home offers a covered front porch, an unfinished basement area, and a spacious backyard. This floor plan includes a spacious living room, perfect for gathering. The living room leads to the kitchen, which includes an abundance of cabinetry. There are 2 bedrooms with access to the full bath. The large backyard is perfect for relaxing and outdoor enjoyment. This great home is close to shopping and dining. Home is currently tenant occupied, no longer vacant.

Key facts

• Covered front porch
• Spacious backyard
• Unfinished basement

Tags

• COVERED FRONT PORCH
• UNFINISHED BASEMENT
• SPACIOUS BACKYARD
• ABUNDANCE OF CABINETRY

Property features AI

Exterior

• Security: Smoke detectors; Carbon monoxide detectors
• Utilities: Public water; Public sewer
• Home design: Single-family residence (site-built); One story
• Construction: Aluminum siding and brick exterior
• Exterior features: Covered porch

Interior

• Kitchen: Refrigerator; Electric Range
• Bathrooms: One full bathroom (main level)
• Heating & cooling: Central air conditioning; Natural gas heating; Forced air system
• Interior features: Refrigerator; Electric Range; One fireplace (listed as none for features); Partial, unfinished basement; Total of 6 rooms
• Laundry & utility: Laundry on lower level

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $90k.

Deal economics

• At list price, monthly cash flow is $223 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $90k).
• Recommended offer: $87k (3.0% below list) — sets the bar for market timing.
• Cap rate 9.3% 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: 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; 26 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 $622 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 ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 58 days — a 3% lower offer ($87k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1924 — 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 $87,203 (3.0% below list)

Questions for the listing agent

1. It's been on market 58 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1924 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
6. 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.
7. 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.
8. 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: 1.12% ✓
• Cap rate: 9.27%
• Cash-on-cash: 10.65%
• DSCR: 1.47
• GRM: 7.5

CMA / ARV

• ARV (on-the-fly): $89,544
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
711 Waggoner Ave	0.09mi	2/1.0	991 (+1%)	1mo	$45,000	$45	94
1317 S Linwood Ave	0.29mi	2/1.5	975 (-1%)	4mo	$135,000	$138	79
642 Jackson Ave	0.30mi	2/2.0	945 (-4%)	6mo	$145,000	$153	70
1921 Shadewood Ave	0.34mi	3/1.0 (+1)	1,037 (+5%)	3mo	$135,000	$130	67
329 Taylor Ave	0.47mi	2/1.0	1,021 (+4%)	6mo	$46,000	$45	67
1320 S Governor St	0.47mi	2/1.0	1,048 (+6%)	3mo	$32,500	$31	65
830 Madison Ave	0.40mi	2/1.0	896 (-9%)	4mo	$27,000	$30	63
1300 S Bedford Ave	0.31mi	2/1.0	861 (-12%)	5mo	$72,475	$84	60
1401 Lodge Ave	0.74mi	3/1.0 (+1)	990 (+1%)	0mo	$145,000	$146	59
1107 S Evans Ave	0.47mi	2/1.0	1,096 (+11%)	0mo	$100,000	$91	59
1159 Sweetser Ave	0.51mi	2/1.0	888 (-10%)	2mo	$82,500	$93	58
609 Taylor Ave	0.30mi	2/1.0	840 (-15%)	6mo	$25,000	$30	57

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: 4.8%
• Equity multiple: 1.20×
• Total profit: $4,953
• Equity at exit: $13,404

10-year hold

• IRR: 18.3%
• Equity multiple: 2.86×
• Total profit: $46,741
• Equity at exit: $7,773

Cash invested: $25,172 (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: 7.5×

Monthly cashflow live

• Estimated rent: $1,005 high
• Mortgage (P&I): −$471
• Tax from tax record: −$62 /mo · $742/yr
• Insurance: −$37
• HOA: −$0
• Vacancy / Maint / Mgmt: −$211
• Net cashflow: $223

Break-even live

Break-even rent $722

Max offer price $89,900

Occupancy floor 73%

Sensitivity live

Price	-10% $274	-5% $249	+0% $223	+5% $198	+10% $172
Rent	-10% $144	-5% $184	+0% $223	+5% $263	+10% $303
Rate	-1.0pp $269	-0.5pp $246	base $223	+0.5pp $200	+1.0pp $176

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: $22,475
• Closing costs: $2,697
• Reserves months: —
• Total cash needed: —

Rent comps 26 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
715 E Riverside Dr Evansville, IN	2.0	1.0	806	$895	$1.11	22d	1	0.15mi
605 Madison Ave Evansville, IN	2.0	1.0	1069	$1,375	$1.29	22d	1	0.45mi
1021 Jefferson Ave Evansville, IN	1.0	1.0	798	$795	$1.00	14d	1	0.50mi
1500 S Harlan Ave Evansville, IN	2.0	1.0	712	$900	$1.26	14d	1	0.58mi
1421 SE 2nd St Unit A Evansville, IN	1.0	1.0	800	$695	$0.87	14d	1	0.63mi
1231 Culver Dr Unit C Evansville, IN	1.0	1.0	575	$625	$1.09	22d	1	0.65mi
734 Bayard Park Dr Evansville, IN	3.0	2.0	1000	$1,425	$1.43	22d	1	0.82mi
1505 Jackson Ave Evansville, IN	2.0	1.0	780	$995	$1.28	22d	1	0.86mi
827 Judson St Evansville, IN	3.0	1.0	1008	$1,295	$1.28	14d	1	0.86mi
924 SE 6th St Unit A Evansville, IN	1.0	1.0	800	$875	$1.09	22d	1	0.88mi
1133 Bayard Park Dr Unit B Evansville, IN	2.0	1.0	990	$800	$0.81	22d	1	0.89mi
17 Washington Ave Evansville, IN	2.0	1.0	882	$1,455	$1.65	22d	1	0.90mi
8 E Blackford Ave Evansville, IN	1.0	1.0	750	$825	$1.10	22d	1	0.96mi
615 SE 3rd St Unit D Evansville, IN	1.0	1.0	1122	$895	$0.80	22d	1	1.13mi
507 S Evans Ave Evansville, IN	2.0	1.0	750	$795	$1.06	22d	1	1.14mi
1909 Taylor Ave Evansville, IN	2.0	1.0	700	$1,200	$1.71	14d	1	1.17mi
2340 Sunburst Blvd Unit 2210-104 Evansville, IN	1.0	1.0	631	$785	$1.24	22d	1	1.18mi
2340 Sunburst Blvd Unit 2270-318 Evansville, IN	2.0	1.0	815	$900	$1.10	22d	1	1.18mi
2340 Sunburst Blvd Unit 2200-202 Evansville, IN	3.0	1.0	973	$1,050	$1.08	22d	1	1.18mi
1909 Plantation Ct Evansville, IN	2.0	1.0	780	$700	$0.90	22d	2	1.22mi
1952 Colts Ln Evansville, IN	1.0–3.0	1.0	1146	$1,035	$0.90	22d	8	1.26mi
322 SE 1st St Evansville, IN	1.0–2.0	1.0	1100	$1,700	$1.55	22d	6	1.34mi
304 S Grand Ave Evansville, IN	2.0	1.0	967	$955	$0.99	22d	1	1.34mi
1762 Spring Ct Evansville, IN	2.0	1.0	975	$1,450	$1.49	22d	1	1.38mi
1604 Marbo Ave Evansville, IN	2.0	1.0	900	$1,095	$1.22	22d	1	1.44mi
202 SE 1st St Evansville, IN	1.0–2.0	1.0	926	$2,449	$2.64	22d	4	1.45mi

Listing history 16 events

1. 2026-06-18
   days on market $89,900 Active 58 DOM
2. 2026-06-17
   days on market $89,900 Active 57 DOM
3. 2026-06-16
   days on market $89,900 Active 56 DOM
4. 2026-06-15
   days on market $89,900 Active 55 DOM
5. 2026-06-14
   days on market $89,900 Active 53 DOM
6. 2026-06-13
   days on market $89,900 Active 52 DOM
7. 2026-06-10
   days on market $89,900 Active 50 DOM
8. 2026-06-09
   days on market $89,900 Active 49 DOM
9. 2026-06-08
   days on market $89,900 Active 48 DOM
10. 2026-06-07
    days on market $89,900 Active 47 DOM
11. 2026-06-02
    days on market $89,900 Active 42 DOM
12. 2026-06-01
    days on market $89,900 Active 41 DOM
13. 2026-05-31
    days on market $89,900 Active 40 DOM
14. 2026-05-30
    days on market $89,900 Active 39 DOM
15. 2026-05-19
    price $89,900
16. 2026-04-20
    listed $92,500 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: $742 · $62/mo
• Projected year-2 tax: $753 · $63/mo
• Expected delta: +$11/yr (+$1/mo · 1.5%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone X · 20% 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: $12,062
• − Mortgage interest: −$5,036
• − Property taxes: −$742
• − Insurance: −$450
• − Repairs & maintenance: −$965
• − Management: −$965
• − Depreciation: −$2,615
• Taxable income: $1,289
• Est. tax owed @ 24.0%: −$309
• After-tax cash flow: $2,371/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

-2.8% since first listed

2 events — show timeline

• 2026-05-19 Price Changed $89,900 IRMLS
• 2026-04-20 Listed $92,500 IRMLS

Property tax history

+2.5%/yr

Latest (2024): $742 · +2.6% YoY. Source: county tax records.