715 Vigo St · Vincennes, IN 47591

$129,999

2 bd · 2.5 ba · 1,776 sqft · SingleFamily public records · 138 Days on market

Built 1890 3,485 sqft lot $73/sqft · 18% below area Est $159k · 18% 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 +15.9/30.0
• ARV discount +15.0/15.0
• DSCR +4.9/10.0
• 1% rule +3.6/10.0
• 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

This spacious home is located close to the historical George Rogers Clark Memorial, GSH and all the amazing Vincennes 'Main Street Downtown' has to offer! This roomy 3 BD, 2 BA home is ready for you to make it your own, which already has new vinyl siding, windows, HVAC, flooring, new tiled bathrooms, etc. The home boasts a large living room, roomy dining room off the spacious kitchen. One BD is on main floor, with the other 2 BD upstairs with another full BA and a large room, which could be used as a 4th BD or multiple flex purposes. The HVAC is dual zoned for the two floors, along with 2 separate electric boxes for each floor. Seller has stated that all the sewer lines that connect to the city sewer line. were all replaced in summer of 2025. The property is being offered 'as is', due to amount of work still needed and is strategically priced accordingly. Buyer's inspections are for their information only and should be done, prior to putting in an offer to purchase.

Key facts

• New tiled bathrooms
• New hvac
• Large living room

Tags

• NEW VINYL SIDING
• NEW WINDOWS
• NEW HVAC
• NEW TILED BATHROOMS
• LARGE LIVING ROOM
• ROOMY DINING ROOM

What this means for you Summary

Snapshot

• This is a 2-bed/2.5-bath single-family listed at $130k.

Deal economics

• At list price, monthly cash flow is $63 ($756/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 $112k (13.6% below list).
• Recommended offer: $112k (13.6% below list) — sets the bar for 1% rule.
• Cap rate 6.9% 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: schools D, amenities F, commute F.
• 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.
• Market conditions: 136 active listings in the ZIP; 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 $899 of loan paydown is wiped out by about $4k 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 138 days — a 12% lower offer ($114k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts 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 $130k implies a 983% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1890 — 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 $112,375 (13.6% below list)

Questions for the listing agent

1. It's been on market 138 days. Have you received any prior offers? Is the seller open to a 14% concession, seller financing, or rate buy-down credit?
2. Built in 1890 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
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: 0.86% ✗
• Cap rate: 6.87%
• Cash-on-cash: 2.08%
• DSCR: 1.09
• GRM: 9.6

CMA / ARV

• ARV (median comp): $159,160
• List price: $129,999
• Delta: -18.32%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
217 S 9th St	0.12mi	3/2.0 (+1)	1,778 (+0%)	11mo	$175,000	$98	78
1302 Busseron St	0.45mi	3/2.5 (+1)	1,866 (+5%)	4mo	$171,000	$92	62
1001 Barnett St	0.22mi	3/2.0 (+1)	1,914 (+8%)	12mo	$175,000	$91	60
928 Seminary St	0.41mi	2/1.5	1,680 (-5%)	10mo	$80,000	$48	59
216 Buntin St	0.43mi	3/1.5 (+1)	1,672 (-6%)	6mo	$163,000	$97	56
608 N 6th St	0.47mi	3/2.0 (+1)	1,904 (+7%)	7mo	$170,000	$89	53
718 Buntin St	0.28mi	3/1.0 (+1)	2,027 (+14%)	3mo	$170,000	$84	50
622 S 11th St	0.40mi	3/2.0 (+1)	1,676 (-6%)	19mo	$223,000	$133	50
1303 Vigo St	0.44mi	3/2.0 (+1)	1,960 (+10%)	8mo	$174,900	$89	48
804 N 5th St	0.60mi	3/2.0 (+1)	1,536 (-14%)	6mo	$85,000	$55	38
1004 N 10th St	0.69mi	3/2.0 (+1)	1,912 (+8%)	14mo	$150,000	$78	36
817 College Ave	0.67mi	3/2.0 (+1)	2,004 (+13%)	16mo	$99,000	$49	27

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: -13.0%
• Equity multiple: 0.53×
• Total profit: $-17,079
• Equity at exit: $19,383

10-year hold

• IRR: -4.1%
• Equity multiple: 0.73×
• Total profit: $-9,817
• Equity at exit: $11,240

Cash invested: $36,400 (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: 9.6×

Monthly cashflow live

• Estimated rent: $1,124 medium
• Mortgage (P&I): −$682
• Tax from tax record: −$89 /mo · $1,066/yr
• Insurance: −$54
• HOA: −$0
• Vacancy / Maint / Mgmt: −$236
• Net cashflow: $63

Break-even live

Break-even rent $1,044

Max offer price $129,999

Occupancy floor 89%

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: $32,500
• Closing costs: $3,900
• Reserves months: —
• Total cash needed: —

Listing history 25 events

1. 2026-06-18
   days on market $129,999 Active 138 DOM
2. 2026-06-17
   days on market $129,999 Active 137 DOM
3. 2026-06-16
   days on market $129,999 Active 136 DOM
4. 2026-06-15
   days on market $129,999 Active 135 DOM
5. 2026-06-13
   days on market $129,999 Active 133 DOM
6. 2026-06-12
   days on market $129,999 Active 132 DOM
7. 2026-06-09
   days on market $129,999 Active 129 DOM
8. 2026-06-08
   days on market $129,999 Active 128 DOM
9. 2026-06-07
   days on market $129,999 Active 127 DOM
10. 2026-06-07
    days on market $129,999 Active 126 DOM
11. 2026-06-04
    days on market $129,999 Active 123 DOM
12. 2026-06-02
    days on market $129,999 Active 122 DOM
13. 2026-06-01
    days on market $129,999 Active 121 DOM
14. 2026-05-31
    days on market $129,999 Active 120 DOM
15. 2026-05-31
    days on market $129,999 Active 119 DOM
16. 2026-03-27
    status Active 980-char remark

    Show marketing remark (980 chars)

    This spacious home is located close to the historical George Rogers Clark Memorial, GSH and all the amazing Vincennes 'Main Street Downtown' has to offer! This roomy 3 BD, 2 BA home is ready for you to make it your own, which already has new vinyl siding, windows, HVAC, flooring, new tiled bathrooms, etc. The home boasts a large living room, roomy dining room off the spacious kitchen. One BD is on main floor, with the other 2 BD upstairs with another full BA and a large room, which could be used as a 4th BD or multiple flex purposes. The HVAC is dual zoned for the two floors, along with 2 separate electric boxes for each floor. Seller has stated that all the sewer lines that connect to the city sewer line. were all replaced in summer of 2025. The property is being offered 'as is', due to amount of work still needed and is strategically priced accordingly. Buyer's inspections are for their information only and should be done, prior to putting in an offer to purchase.

17. 2026-03-16
    status Pending 980-char remark

    Show marketing remark (980 chars)

    This spacious home is located close to the historical George Rogers Clark Memorial, GSH and all the amazing Vincennes 'Main Street Downtown' has to offer! This roomy 3 BD, 2 BA home is ready for you to make it your own, which already has new vinyl siding, windows, HVAC, flooring, new tiled bathrooms, etc. The home boasts a large living room, roomy dining room off the spacious kitchen. One BD is on main floor, with the other 2 BD upstairs with another full BA and a large room, which could be used as a 4th BD or multiple flex purposes. The HVAC is dual zoned for the two floors, along with 2 separate electric boxes for each floor. Seller has stated that all the sewer lines that connect to the city sewer line. were all replaced in summer of 2025. The property is being offered 'as is', due to amount of work still needed and is strategically priced accordingly. Buyer's inspections are for their information only and should be done, prior to putting in an offer to purchase.

18. 2026-01-20
    listed $129,999 Active 980-char remark

    Show marketing remark (980 chars)

    This spacious home is located close to the historical George Rogers Clark Memorial, GSH and all the amazing Vincennes 'Main Street Downtown' has to offer! This roomy 3 BD, 2 BA home is ready for you to make it your own, which already has new vinyl siding, windows, HVAC, flooring, new tiled bathrooms, etc. The home boasts a large living room, roomy dining room off the spacious kitchen. One BD is on main floor, with the other 2 BD upstairs with another full BA and a large room, which could be used as a 4th BD or multiple flex purposes. The HVAC is dual zoned for the two floors, along with 2 separate electric boxes for each floor. Seller has stated that all the sewer lines that connect to the city sewer line. were all replaced in summer of 2025. The property is being offered 'as is', due to amount of work still needed and is strategically priced accordingly. Buyer's inspections are for their information only and should be done, prior to putting in an offer to purchase.

19. 2025-11-02
    price $159,900
20. 2025-09-04
    status Active
21. 2025-08-06
    status Active
22. 2025-07-16
    status Pending
23. 2025-07-10
    listed $169,900 Active
24. 2012-09-04
    soldstatus $12,000
25. 2012-03-02
    soldstatus $33,633

ⓘ 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: $1,066 · $89/mo
• Projected year-2 tax: $1,085 · $90/mo
• Expected delta: +$20/yr (+$2/mo · 1.8%)

ⓘ 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: $13,485
• − Mortgage interest: −$7,282
• − Property taxes: −$1,066
• − Insurance: −$650
• − Repairs & maintenance: −$1,079
• − Management: −$1,079
• − Depreciation: −$3,782
• Taxable loss: −$1,452
• Est. tax savings @ 24.0%: +$349
• After-tax cash flow: $1,105/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

+286.5% since first listed

10 events — show timeline

• 2026-03-27 Relisted — IRMLS
• 2026-03-16 Pending — IRMLS
• 2026-01-20 Listed $129,999 IRMLS
• 2025-11-02 Price Changed $159,900 IRMLS
• 2025-09-04 Relisted — IRMLS
• 2025-08-06 Relisted — IRMLS
• 2025-07-16 Pending — IRMLS
• 2025-07-10 Listed $169,900 IRMLS
• 2012-09-04 Sold (Public Records) $12,000 Public Records
• 2012-03-02 Sold (Public Records) $33,633 Public Records

Property tax history

-2.1%/yr

Latest (2024): $1,066 · +4.1% YoY. Source: county tax records.