900 E Blackford Ave · Evansville, IN 47713

$77,500

3 bd · 1.0 ba · 1,364 sqft · SingleFamily public records · 47 Days on market

Built 1914 4,356 sqft lot Est $106k · 27% 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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• 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

Darling bungalow located two blocks from Bayard Park! Head under the large covered front porch into the living space of 900 E. Blackford Avenue featuring a gorgeous fireplace surrounded by built-ins. The formal dining room has french doors leading into it and sits conveniently off the eat-in kitchen. The breakfast nook provides plenty of space to host a family gathering. The walk-up attic offers opportunity for more finished square footage or plenty of space for storage as it is now. Each bedroom is spacious and the full bath sits conveniently in between both. Located on a corner lot, this Bayard Park Bungalow offers charm and opportunity!

Key facts

• Covered front porch
• Breakfast nook
• Gorgeous fireplace

Tags

• COVERED FRONT PORCH
• GORGEOUS FIREPLACE
• BUILT-INS
• FRENCH DOORS
• BREAKFAST NOOK
• WALK-UP ATTIC

Property features AI

Exterior

• Utilities: Public water; Public sewer
• Home design: Single-family residence (site-built); One story
• Construction: Brick and vinyl siding exterior
• Exterior features: Covered porch; Corner lot; Shed(s) on property

Interior

• Kitchen: See listing for specific kitchen appliance details
• Bedrooms: Bedrooms (see listing for room-level details)
• Bathrooms: 1 full bathroom (main level)
• Heating & cooling: Central air conditioning; Natural gas forced-air heating
• Interior features: Living room fireplace; Unfinished basement; Total of 6 rooms
• Laundry & utility: Main level laundry

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $78k.

Deal economics

• At list price, monthly cash flow is $541 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $78k).
• Recommended offer: $75k (3.0% below list) — sets the bar for market timing.
• Cap rate 14.7% 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: Dexter Elementary School (math 17% / reading 12%, grade F, #862 of 994 statewide, top 88%, 328 students, 83% FRL); Washington Middle School (math 14% / reading 24%, grade F, #274 of 330 statewide, top 83%, 353 students, 70% FRL) — zoned schools average 76% FRL vs 50% district-wide (26 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 17% at this address vs 40% district-wide (-23 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).
• This rent runs 38% of the median local income ($41k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $536 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 8.0% rent growth), your $22k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 47 days — a 3% lower offer ($75k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1914 — 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 $75,175 (3.0% below list)

Questions for the listing agent

1. It's been on market 47 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 1914 — 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: 1.65% ✓
• Cap rate: 14.68%
• Cash-on-cash: 29.94%
• DSCR: 2.33
• GRM: 5.0

CMA / ARV

• ARV (on-the-fly): $106,392
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
712 E Blackford Ave	0.26mi	2/1.0 (-1)	1,327 (-3%)	1mo	$22,000	$17	78
717 E Blackford Ave	0.25mi	3/1.0	1,303 (-4%)	5mo	$29,250	$22	76
1045 Bayard Park Dr	0.26mi	3/1.5	1,440 (+6%)	4mo	$110,000	$76	73
1025 Jefferson Ave	0.27mi	2/1.0 (-1)	1,453 (+6%)	5mo	$113,000	$78	68
1414 Marshall Ave	0.70mi	3/1.0	1,364 (0%)	1mo	$122,000	$89	67
868 Bellemeade Ave	0.32mi	2/1.0 (-1)	1,232 (-10%)	5mo	$150,000	$122	60
1225 S Bedford Ave	0.31mi	4/1.0 (+1)	1,522 (+12%)	2mo	$130,000	$85	60
1108 E Blackford Ave	0.25mi	2/1.0 (-1)	1,176 (-14%)	3mo	$48,500	$41	57
1101 Ravenswood Dr	0.58mi	2/1.0 (-1)	1,269 (-7%)	1mo	$155,000	$122	56
600 E Chandler Ave	0.41mi	3/2.0	1,525 (+12%)	3mo	$51,000	$33	55
613 Madison Ave	0.44mi	3/1.0	1,176 (-14%)	4mo	$165,000	$140	53
1558 Henning Ave	0.73mi	2/1.0 (-1)	1,508 (+11%)	4mo	$65,000	$43	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: 29.7%
• Equity multiple: 2.32×
• Total profit: $28,663
• Equity at exit: $11,556

10-year hold

• IRR: 39.7%
• Equity multiple: 5.61×
• Total profit: $100,052
• Equity at exit: $6,701

Cash invested: $21,700 (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: 5.0×

Monthly cashflow live

• Estimated rent: $1,280 high
• Mortgage (P&I): −$406
• Tax from tax record: −$31 /mo · $371/yr
• Insurance: −$32
• HOA: −$0
• Vacancy / Maint / Mgmt: −$269
• Net cashflow: $541

Break-even live

Break-even rent $594

Max offer price $77,500

Occupancy floor 53%

Sensitivity live

Price	-10% $585	-5% $563	+0% $541	+5% $519	+10% $497
Rent	-10% $440	-5% $491	+0% $541	+5% $592	+10% $642
Rate	-1.0pp $580	-0.5pp $561	base $541	+0.5pp $521	+1.0pp $501

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: $19,375
• Closing costs: $2,325
• Reserves months: —
• Total cash needed: —

Rent comps 18 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
734 Bayard Park Dr Evansville, IN	3.0	2.0	1000	$1,425	$1.43	21d	1	0.27mi
1133 Bayard Park Dr Unit B Evansville, IN	2.0	1.0	990	$800	$0.81	21d	1	0.37mi
605 Madison Ave Evansville, IN	2.0	1.0	1069	$1,375	$1.29	21d	1	0.44mi
638 Jackson Ave Evansville, IN	4.0	1.0	1176	$1,495	$1.27	21d	1	0.47mi
827 Judson St Evansville, IN	3.0	1.0	1008	$1,295	$1.28	14d	1	0.64mi
304 S Grand Ave Evansville, IN	2.0	1.0	967	$955	$0.99	21d	1	0.72mi
17 Washington Ave Evansville, IN	2.0	1.0	882	$1,455	$1.65	21d	1	0.84mi
1303 E Indiana St Evansville, IN	2.0	1.0	975	$1,195	$1.23	14d	1	1.10mi
1321 E Indiana St Evansville, IN	2.0	1.0	964	$1,050	$1.09	14d	1	1.11mi
322 SE 1st St Evansville, IN	1.0–2.0	1.0	1100	$1,700	$1.55	21d	6	1.19mi
202 SE 1st St Evansville, IN	1.0–2.0	1.0	926	$2,449	$2.64	21d	4	1.27mi
41 W Division St Apt 200 Evansville, IN	2.0	2.0	1083	$1,500	$1.39	21d	1	1.28mi
100 SE 1st St Evansville, IN	1.0–2.0	1.0–2.0	715	$1,725	$2.41	14d	17	1.32mi
200 N Main St Evansville, IN	2.0	1.0–2.0	857	$1,599	$1.86	14d	7	1.36mi
706 Court St Evansville, IN	2.0	1.5	1100	$850	$0.77	21d	1	1.36mi
210 S Weinbach Ave Evansville, IN	3.0	1.0	1080	$1,450	$1.34	21d	1	1.37mi
313 NW Martin Luther King Junior Blvd Unit 311 Evansville, IN	2.0	1.0	1200	$950	$0.79	21d	1	1.38mi
1952 Colts Ln Evansville, IN	1.0–3.0	1.0	1146	$1,275	$1.11	21d	8	1.49mi

Listing history 16 events

1. 2026-06-18
   days on market $77,500 Active 47 DOM
2. 2026-06-17
   days on market $77,500 Active 46 DOM
3. 2026-06-16
   days on market $77,500 Active 45 DOM
4. 2026-06-15
   days on market $77,500 Active 44 DOM
5. 2026-06-14
   days on market $77,500 Active 42 DOM
6. 2026-06-13
   days on market $77,500 Active 41 DOM
7. 2026-06-10
   days on market $77,500 Active 39 DOM
8. 2026-06-09
   days on market $77,500 Active 38 DOM
9. 2026-06-08
   days on market $77,500 Active 37 DOM
10. 2026-06-07
    days on market $77,500 Active 36 DOM
11. 2026-06-02
    days on market $77,500 Active 31 DOM
12. 2026-06-01
    days on market $77,500 Active 30 DOM
13. 2026-05-31
    days on market $77,500 Active 29 DOM
14. 2026-05-30
    days on market $77,500 Active 28 DOM
15. 2026-05-15
    status Pending
16. 2026-04-21
    listed $77,500 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: $371 · $31/mo
• Projected year-2 tax: $515 · $43/mo
• Expected delta: +$144/yr (+$12/mo · 38.9%)

ⓘ 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: $15,356
• − Mortgage interest: −$4,341
• − Property taxes: −$371
• − Insurance: −$388
• − Repairs & maintenance: −$1,229
• − Management: −$1,229
• − Depreciation: −$2,255
• Taxable income: $5,545
• Est. tax owed @ 24.0%: −$1,331
• After-tax cash flow: $5,165/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 events — show timeline

• 2026-05-15 Pending — IRMLS
• 2026-04-21 Listed $77,500 IRMLS