1104 Negley Ave · Evansville, IN 47711

$75,000

4 bd · 2.0 ba · 825 sqft · Other · 27 Days on market

Built 1944 Poor condition

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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 +1.0/5.0
• Appreciation +0.0/10.0

Listing remarks

Rent Estimate: $2000-$2100/Month House is close to Downtown attractions and business including Ford Center, Vitroy Theater, Old National Evant Plaza, Ohio-River, Vally& apos; s Casino, Evansville Meseum, University Golf Course, and Airport. House is also blocks from many resturants, churches, parks, and night-life. About Evansville: Six NYSE companies (Accuride, Berry Global, Escalade, Old National Bank, Shoe Carnival, and OneMain Financial) are headquartered in Evansville, along with the global operations center for NYSE company Mead Johnson. The city is home to public and private enterprises in many areas, as Evansville serves as the region& apos; s economic hub. Evansville is ho

Key facts

• Blocks from parks
• New exterior doors
• New roof

Tags

• CLOSE TO DOWNTOWN ATTRACTIONS
• BLOCKS FROM MANY RESTAURANTS
• BLOCKS FROM PARKS
• NEW ROOF
• NEW WINDOWS
• NEW EXTERIOR DOORS

Property features AI

Finance

• Other: Approximate living area 825

Exterior

• Home design: Built in 1944
• Construction: Original construction from 1944
• Exterior features: Located in the Business 41 subdivision

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath other listed at $75k. Condition is rated poor.

Deal economics

• At list price, monthly cash flow is $501 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $75k).
• Recommended offer: $74k (1.5% below list) — sets the bar for market timing.
• Cap rate 14.3% 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: 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); 234 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 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 $519 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 $21k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 27 days — a 2% lower offer ($74k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1944 — 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 $73,875 (1.5% below list)

Questions for the listing agent

1. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
2. Built in 1944 — 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: 1.72% ✓
• Cap rate: 14.31%
• Cash-on-cash: 28.64%
• DSCR: 2.27
• GRM: 4.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 6.72% rent growth · sell at horizon

5-year hold

• IRR: 27.1%
• Equity multiple: 2.18×
• Total profit: $24,797
• Equity at exit: $11,183

10-year hold

• IRR: 36.8%
• Equity multiple: 5.05×
• Total profit: $84,973
• Equity at exit: $6,485

Cash invested: $21,000 (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: 234
• Price-to-rent: 4.8×

Monthly cashflow live

• Estimated rent: $1,290 medium
• Mortgage (P&I): −$393
• Tax est. 1.5%: −$94 /mo · $1,125/yr
• Insurance: −$31
• HOA: −$0
• Vacancy / Maint / Mgmt: −$271
• Net cashflow: $501

Break-even live

Break-even rent $656

Max offer price $75,000

Occupancy floor 56%

Sensitivity live

Price	-10% $553	-5% $527	+0% $501	+5% $475	+10% $449
Rent	-10% $399	-5% $450	+0% $501	+5% $552	+10% $603
Rate	-1.0pp $539	-0.5pp $520	base $501	+0.5pp $482	+1.0pp $462

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: $18,750
• Closing costs: $2,250
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
905 Vanderburgh Ave Evansville, IN	3.0	1.0	988	$1,200	$1.21	15d	1	0.80mi

Listing history 16 events

1. 2026-06-22
   days on market $75,000 Active 27 DOM
2. 2026-06-18
   days on market $75,000 Active 24 DOM
3. 2026-06-17
   days on market $75,000 Active 23 DOM
4. 2026-06-16
   days on market $75,000 Active 22 DOM
5. 2026-06-15
   days on market $75,000 Active 21 DOM
6. 2026-06-14
   days on market $75,000 Active 19 DOM
7. 2026-06-13
   days on market $75,000 Active 18 DOM
8. 2026-06-10
   days on market $75,000 Active 16 DOM
9. 2026-06-09
   days on market $75,000 Active 15 DOM
10. 2026-06-08
    days on market $75,000 Active 14 DOM
11. 2026-06-07
    days on market $75,000 Active 13 DOM
12. 2026-06-02
    days on market $75,000 Active 8 DOM
13. 2026-06-01
    days on market $75,000 Active 7 DOM
14. 2026-05-31
    days on market $75,000 Active 6 DOM
15. 2026-05-30
    days on market $75,000 Active 5 DOM
16. 2026-05-25
    listed $75,000 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

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 ≥106°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: $15,486
• − Mortgage interest: −$4,201
• − Property taxes: −$1,125
• − Insurance: −$375
• − Repairs & maintenance: −$1,239
• − Management: −$1,239
• − Depreciation: −$2,182
• Taxable income: $5,125
• Est. tax owed @ 24.0%: −$1,230
• After-tax cash flow: $4,784/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.

Condition & rehab AI · 1 photo

Poor 20/100 Extensive rehab

This property requires extensive repairs and updates to bring it up to a livable condition. Significant work is needed on the exterior, interior, and systems to improve its value and appeal.

Repairs flagged

• Major siding — Significant wear and tear
• Major roof — No visible damage, but overall condition is unknown
• Major flooring — No visible flooring, but likely in poor condition
• Major interior walls/paint — No visible interior, but likely in poor condition
• Major bathrooms — No visible bathrooms, but likely in poor condition
• Major kitchen — No visible kitchen, but likely in poor condition
• Major systems — No visible systems, but likely in poor condition

Value-add opportunities

• Both landscaping and curb appeal — Improves aesthetics and first impressions
• Both exterior repairs and painting — Enhances curb appeal and value
• Both interior repairs and painting — Improves living space and value
• Both roof repair or replacement — Ensures structural integrity and value
• Both kitchen and bathroom updates — Modernizes spaces and increases value

Renovation cost estimate screening

Repair item	Severity	Est. cost
siding · Significant wear and tear	Major	$15,000–50,000
roof · No visible damage, but overall condition is unknown	Major	$15,000–50,000
flooring · No visible flooring, but likely in poor condition	Major	$15,000–50,000
interior walls/paint · No visible interior, but likely in poor condition	Major	$15,000–50,000
bathrooms · No visible bathrooms, but likely in poor condition	Major	$15,000–50,000
kitchen · No visible kitchen, but likely in poor condition	Major	$15,000–50,000
systems · No visible systems, but likely in poor condition	Major	$15,000–50,000
Total estimated repair cost · 7 items		$105,000–350,000

Value-add ROI direction

• Both landscaping and curb appeal — Improves aesthetics and first impressions ↑
• Both exterior repairs and painting — Enhances curb appeal and value ↑
• Both interior repairs and painting — Improves living space and value ↑
• Both roof repair or replacement — Ensures structural integrity and value ↑
• Both kitchen and bathroom updates — Modernizes spaces and increases value ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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

1 event — show timeline

• 2026-05-25 Listed $75,000 FSBO.com