816 Seminary St · Vincennes, IN 47591

$105,000

2 bd · 1.0 ba · 1,408 sqft · SingleFamily public records · 38 Days on market

Built 1880 4,792 sqft lot $75/sqft · 8% below area Est $114k · 8% 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 +18.3/30.0
• ARV discount +10.9/15.0
• DSCR +5.8/10.0
• 1% rule +4.3/10.0
• Livability +3.5/5.0
• Schools +3.0/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Many updates, newer windows, new painting, privacy fence, hardwood floors, breezeway to enjoy, storage basement, updated bathroom with large walk-in shower plus tub. Living room-dining room combination, enclosed breezeway 16 x 20 - 10 ft. ceilings. Covered front porch and pantry in kitchen. Each room has individual controls for heat.

Key facts

• Attached garage
• Natural light
• Spacious front porch

Tags

• ATTACHED GARAGE
• FENCED BACKYARD
• SPACIOUS FRONT PORCH
• FUNCTIONAL LAYOUT
• NATURAL LIGHT
• LOCAL AMENITIES

Property features AI

Exterior

• Parking: Attached garage with 1 garage space
• Utilities: Public water; Public sewer
• Home design: Single-family site-built home; One story
• Construction: Wood siding construction
• Exterior features: Level lot

Interior

• Bathrooms: One full bathroom on the main level
• Heating & cooling: Electric baseboard heat; Central air conditioning
• Interior features: Partial unfinished basement; 4 total 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 $105k.

Deal economics

• At list price, monthly cash flow is $97 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $98k (7.1% below list).
• Recommended offer: $98k (7.1% below list) — sets the bar for 1% rule.
• Cap rate 7.4% vs local median 5.1% in Vincennes — 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 70/100 on livability (#148 in IN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: amenities F, commute F, employment D-.
• Vincennes Community School Corporation (town): math 34% / reading 38% proficiency, ranked #193 of 301 in IN (top 64%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Francis Vigo Elementary School (math 52% / reading 37%, grade F, #379 of 994 statewide, top 41%, 347 students, 62% FRL); George Rogers Clark School (math 27% / reading 34%, grade F, #203 of 330 statewide, top 63%, 609 students, 57% FRL); Lincoln High School (math 27% / reading 47%, grade F, #247 of 369 statewide, top 70%, 765 students, 55% FRL) — zoned schools at 58% FRL track the district average.
• Market conditions: 136 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 36 units permitted in Knox County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $726 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Knox County population projected at -13% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 38 days — a 3% lower offer ($102k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 5y 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 $90k; 17% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1880 — 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 $97,500 (7.1% below list)

Questions for the listing agent

1. It's been on market 38 days. Have you received any prior offers? Is the seller open to a 7% concession, seller financing, or rate buy-down credit?
2. Built in 1880 — 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. 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: 0.93% ✗
• Cap rate: 7.40%
• Cash-on-cash: 3.96%
• DSCR: 1.18
• GRM: 9.0

CMA / ARV

• ARV (median comp): $113,620
• List price: $105,000
• Delta: -7.59%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
917 Hart St	0.07mi	3/2.0 (+1)	1,357 (-4%)	2mo	$105,000	$77	80
1007 N 10th St	0.31mi	3/1.0 (+1)	1,384 (-2%)	3mo	$115,000	$83	75
911 N 9th St	0.24mi	3/1.0 (+1)	1,296 (-8%)	1mo	$27,500	$21	70
1313 Broadway St	0.42mi	3/2.0 (+1)	1,422 (+1%)	8mo	$149,900	$105	63
1419 College Ave	0.52mi	2/1.0	1,344 (-4%)	10mo	$55,000	$41	60
1303 N Upper 11th St	0.53mi	2/1.5	1,298 (-8%)	1mo	$121,000	$93	60
204 Carolina Dr	0.65mi	3/2.0 (+1)	1,400 (-1%)	2mo	$225,000	$161	58
804 N 5th St	0.30mi	3/2.0 (+1)	1,536 (+9%)	6mo	$85,000	$55	57
414 Bayou St	0.70mi	3/1.0 (+1)	1,440 (+2%)	8mo	$53,500	$37	51
917 Wabash Ave	0.38mi	3/1.0 (+1)	1,242 (-12%)	10mo	$136,500	$110	49
521 S 6th St	0.67mi	2/2.0	1,269 (-10%)	7mo	$92,000	$72	42
619 S 10th St	0.74mi	2/1.0	1,235 (-12%)	8mo	$130,000	$105	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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -10.1%
• Equity multiple: 0.63×
• Total profit: $-10,855
• Equity at exit: $15,656

10-year hold

• IRR: -0.8%
• Equity multiple: 0.95×
• Total profit: $-1,569
• Equity at exit: $9,078

Cash invested: $29,400 (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 47591

• Home prices YoY: -19.5%
• Active inventory: 136
• Price-to-rent: 9.0×

Monthly cashflow live

• Estimated rent: $975 medium
• Mortgage (P&I): −$551
• Tax from tax record: −$79 /mo · $947/yr
• Insurance: −$44
• HOA: −$0
• Vacancy / Maint / Mgmt: −$205
• Net cashflow: $97

Break-even live

Break-even rent $852

Max offer price $105,000

Occupancy floor 85%

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: $26,250
• Closing costs: $3,150
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
721 N 7th St Unit A Vincennes, IN	2.0	1.0	1000	$975	$0.97	43d	1	0.15mi

Listing history 19 events

1. 2026-06-18
   days on market $105,000 Active 38 DOM
2. 2026-06-17
   days on market $105,000 Active 37 DOM
3. 2026-06-16
   days on market $105,000 Active 36 DOM
4. 2026-06-16
   price $105,000 Active 35 DOM
5. 2026-06-15
   days on market $110,000 Active 35 DOM
6. 2026-06-13
   days on market $110,000 Active 33 DOM
7. 2026-06-12
   days on market $110,000 Active 32 DOM
8. 2026-06-09
   days on market $110,000 Active 29 DOM
9. 2026-06-08
   days on market $110,000 Active 28 DOM
10. 2026-06-07
    days on market $110,000 Active 27 DOM
11. 2026-06-07
    days on market $110,000 Active 26 DOM
12. 2026-06-04
    days on market $110,000 Active 23 DOM
13. 2026-06-02
    days on market $110,000 Active 22 DOM
14. 2026-06-01
    days on market $110,000 Active 21 DOM
15. 2026-05-31
    days on market $110,000 Active 20 DOM
16. 2026-05-31
    days on market $110,000 Active 19 DOM
17. 2026-05-11
    listed $110,000 Active 529-char remark
18. 2021-10-05
    soldstatus $90,000 335-char remark

    Show marketing remark (335 chars)

    Many updates, newer windows, new painting, privacy fence, hardwood floors, breezeway to enjoy, storage basement, updated bathroom with large walk-in shower plus tub. Living room-dining room combination, enclosed breezeway 16 x 20 - 10 ft. ceilings. Covered front porch and pantry in kitchen. Each room has individual controls for heat.

19. 2021-09-01
    listed $99,900 335-char remark

    Show marketing remark (335 chars)

    Many updates, newer windows, new painting, privacy fence, hardwood floors, breezeway to enjoy, storage basement, updated bathroom with large walk-in shower plus tub. Living room-dining room combination, enclosed breezeway 16 x 20 - 10 ft. ceilings. Covered front porch and pantry in kitchen. Each room has individual controls for heat.

ⓘ 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: $947 · $79/mo
• Projected year-2 tax: $947 · $79/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 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 5/10 Major 7 d/yr ≥106°F today · 19 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 2% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $11,700
• − Mortgage interest: −$5,882
• − Property taxes: −$947
• − Insurance: −$525
• − Repairs & maintenance: −$936
• − Management: −$936
• − Depreciation: −$3,055
• Taxable loss: −$580
• Est. tax savings @ 24.0%: +$139
• After-tax cash flow: $1,303/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: Vincennes Community School Corporation
• NCES district ID: 1812120
• Math proficiency: 34% ▼ -5.00%
• Reading proficiency: 38% ▼ -4.00%
• Median HH income: $38,359
• Composite: 30.05/100
• National rank: #6354
• State rank: #193 of 301 in IN

Livability — Vincennes

• Score: 70/100
• State rank: #148
• US rank: #7480

Category grades

Amenities F Commute F Cost of living A+ Crime B Employment D- Housing A+ Health & safety A+ User ratings F

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Vincennes, IN
• Population (ZIP): 25,191

Population outlook (Knox County) Hauer SSP2

• Today (2025): 37,092 people
• By 2030: 36,271 · -2.2%
• By 2040: 34,196 · -7.8%
• By 2050: 32,405 · -12.6%
• By 2075: 28,754 · -22.5%
• By 2100: 24,110 · -35.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (88%)
• Race & ethnicity: White 88% Two or more races 6% Hispanic / Latino 3% Black 2% Asian 1%
• Common ancestry: Lithuanian 4% Romanian 2% Slovak 2%
• Foreign-born: 3% · Canada, China
• Languages at home: 95% English-only · Spanish 2% French/Haitian/Cajun 1% Chinese 1%

Political lean MEDSL · Knox

• 2024 margin: Solid R (+50.4) · D 24.0% · R 74.4% · Other 1.6%
• 2008→2024 swing: -43.9pp toward R · 2008: -6.5pp · 2024: -50.4pp
• All cycles: 2024: R+50.4 2020: R+47.4 2016: R+47.2 2012: R+28.9 2008: R+6.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -47.26%
• Current HPI: 194.903
• Rent YoY: —
• Metro: —
• 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

+5.1% since first listed

4 events — show timeline

• 2026-06-15 Price Changed $105,000 IRMLS
• 2026-05-11 Listed $110,000 IRMLS
• 2021-10-05 Sold (MLS) $90,000 IRMLS
• 2021-09-01 Listed $99,900 IRMLS

Property tax history

+3.8%/yr

Latest (2024): $947 · +10.4% YoY. Source: county tax records.