1020 Martin Ln · Evansville, IN 47715

$209,900

4 bd · 2.0 ba · 2,107 sqft · SingleFamily public records · 1 Days on market

Built 1971 0.25 ac lot Est $261k · 20% under

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Why this score? — see what drove the D+ 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).

• ARV discount +15.0/15.0
• Cash flow +14.4/30.0
• 1% rule +4.7/10.0
• DSCR +4.4/10.0
• Schools +3.3/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

This charming 4-bedroom, 2-bathroom brick home is perfectly situated on a corner lot in a prime East Side location. You'll love the convenience of being just a stone's throw away from Plaza Park Middle School, making school mornings a breeze. The house offers a spacious and versatile layout, featuring an extra family room that opens up off the carport. This additional living space provides plenty of room for family gatherings, entertaining friends, or creating your own cozy retreat. Step inside to discover new luxury vinyl tile (LVT) flooring that not only adds a touch of modern elegance but also makes for easy maintenance. The durable LVT flooring is perfect for busy lifestyles and ensures that your home remains stylish and functional for years to come. Enjoy soaking up the sunlight in the large sunroom, where you can indulge in a cup of coffee while taking in the views of your well-maintained yard. Speaking of the yard, the corner lot provides ample outdoor space for gardening, playing, or simply relaxing outdoors. One of the highlights of this property is its proximity to a variety of amenities. You'll find a range of dining options and shopping destinations just a short drive away, making it effortless to satisfy your culinary cravings or find that perfect outfit. With 4 bedrooms, there's plenty of room for the whole family to spread out and find their own personal space. The two bathrooms add to the convenience of everyday living.

Key facts

• Ample outdoor space
• Large sunroom
• Well-maintained yard

Tags

• CORNER LOT
• EXTRA FAMILY ROOM
• LARGE SUNROOM
• WELL-MAINTAINED YARD
• AMPLE OUTDOOR SPACE

Property features AI

Exterior

• Parking: Off-street parking on concrete
• Utilities: Public water; Public sewer; Cable available
• Home design: Single-family residence; Site-built home; One-story
• Construction: Brick construction
• Exterior features: Corner, level, landscaped lot; Chain link fencing; Shingle roof

Interior

• Kitchen: Dishwasher; Microwave; Refrigerator; Electric range
• Flooring: Vinyl flooring
• Bathrooms: Two full bathrooms (both on the main level)
• Heating & cooling: Forced air heating; Central air conditioning; Ceiling fans for cooling
• Interior features: Ceiling fans; Laminate countertops; One fireplace (no special features listed)
• Laundry & utility: Laundry on the main level

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $210k.

Deal economics

• At list price, monthly cash flow is $43 ($517/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 $204k (3.0% below list).
• Recommended offer: $204k (3.0% below list) — sets the bar for 1% rule.
• Cap rate 6.5% 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: Hebron Elementary School (math 37% / reading 35%, grade F, #577 of 994 statewide, top 59%, 758 students, 56% FRL); Plaza Park International Prep Acad (math 27% / reading 37%, grade F, #190 of 330 statewide, top 59%, 650 students, 65% FRL); William Henry Harrison High School (math 29% / reading 54%, grade F, #211 of 369 statewide, top 58%, 1,158 students, 61% FRL).
• Market conditions: 181 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals lingering (median 46d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 50% of comp listings sitting > 30 days — soft ceiling on asking rent; 508 units permitted in Vanderburgh County in 2024 (32 in 5+ unit buildings).
• This rent runs 40% of the median local income ($61k/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 $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 10y 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.

Risks & watch-outs

• 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 $203,523 (3.0% below list)

Questions for the listing agent

1. Built in 1971 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
5. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 0.97% ✗
• Cap rate: 6.54%
• Cash-on-cash: 0.88%
• DSCR: 1.04
• GRM: 8.6

CMA / ARV

• ARV (on-the-fly): $261,268
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1020 Martin Ln	0.00mi	4/2.0	2,107 (0%)	1mo	$209,900	$100	99
1401 Greenfield Rd	0.52mi	3/2.0 (-1)	2,142 (+2%)	1mo	$226,000	$106	67
6921 Monroe Ave	0.33mi	3/1.5 (-1)	1,955 (-7%)	3mo	$242,000	$124	63
7120 Bayard Park Dr	0.33mi	3/2.5 (-1)	2,288 (+9%)	4mo	$205,000	$90	60
1511 Oriole Dr	0.38mi	3/2.5 (-1)	1,897 (-10%)	1mo	$235,000	$124	58
1551 Greenfield Rd	0.61mi	3/2.5 (-1)	1,986 (-6%)	1mo	$295,000	$149	54
1301 Southfield Rd	0.41mi	3/2.0 (-1)	2,401 (+14%)	1mo	$230,000	$96	52
6721 Lincoln Ave	0.63mi	4/2.5	1,921 (-9%)	2mo	$208,000	$108	52
1521 Martin Cir	0.41mi	3/2.5 (-1)	2,364 (+12%)	3mo	$335,000	$142	51
8214 Kingswood Ct	0.72mi	3/2.0 (-1)	1,932 (-8%)	2mo	$255,000	$132	46
671 Glenmoor Dr	0.72mi	4/3.0	1,872 (-11%)	2mo	$247,000	$132	42
6713 Lincoln Ave	0.64mi	3/2.5 (-1)	1,796 (-15%)	0mo	$235,000	$131	38

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: -14.8%
• Equity multiple: 0.47×
• Total profit: $-31,168
• Equity at exit: $31,297

10-year hold

• IRR: -6.1%
• Equity multiple: 0.61×
• Total profit: $-23,198
• Equity at exit: $18,148

Cash invested: $58,772 (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 47715

• Active inventory: 181
• Price-to-rent: 8.6×

Monthly cashflow live

• Estimated rent: $2,035 medium
• Mortgage (P&I): −$1,101
• Tax from tax record: −$377 /mo · $4,519/yr
• Insurance: −$87
• HOA: −$0
• Vacancy / Maint / Mgmt: −$427
• Net cashflow: $43

Break-even live

Break-even rent $1,981

Max offer price $209,900

Occupancy floor 93%

Sensitivity live

Price	-10% $162	-5% $102	+0% $43	+5% $-16	+10% $-76
Rent	-10% $-118	-5% $-37	+0% $43	+5% $123	+10% $204
Rate	-1.0pp $149	-0.5pp $96	base $43	+0.5pp $-11	+1.0pp $-67

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: $52,475
• Closing costs: $6,297
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1701 Southfield Rd Evansville, IN	3.0	2.5	1696	$1,900	$1.12	23d	1	0.69mi
10686 Fall Creek Dr Newburgh, IN	3.0	2.0	1436	$1,950	$1.36	15d	1	1.03mi
10611 Gettysburg Dr Newburgh, IN	4.0	3.0	2214	$2,200	$0.99	45d	1	1.09mi
3955 Clover Dr Newburgh, IN	3.0	2.0	1800	$1,985	$1.10	45d	1	1.45mi

Listing history 7 events

1. 2026-04-09
   status Pending
2. 2026-04-08
   listed $209,900 Active
3. 2023-09-19
   soldstatus $185,000 Closed 1459-char remark

   Show marketing remark (1459 chars)

   This charming 4-bedroom, 2-bathroom brick home is perfectly situated on a corner lot in a prime East Side location. You'll love the convenience of being just a stone's throw away from Plaza Park Middle School, making school mornings a breeze. The house offers a spacious and versatile layout, featuring an extra family room that opens up off the carport. This additional living space provides plenty of room for family gatherings, entertaining friends, or creating your own cozy retreat. Step inside to discover new luxury vinyl tile (LVT) flooring that not only adds a touch of modern elegance but also makes for easy maintenance. The durable LVT flooring is perfect for busy lifestyles and ensures that your home remains stylish and functional for years to come. Enjoy soaking up the sunlight in the large sunroom, where you can indulge in a cup of coffee while taking in the views of your well-maintained yard. Speaking of the yard, the corner lot provides ample outdoor space for gardening, playing, or simply relaxing outdoors. One of the highlights of this property is its proximity to a variety of amenities. You'll find a range of dining options and shopping destinations just a short drive away, making it effortless to satisfy your culinary cravings or find that perfect outfit. With 4 bedrooms, there's plenty of room for the whole family to spread out and find their own personal space. The two bathrooms add to the convenience of everyday living.

4. 2023-08-10
   status Pending 1459-char remark

   Show marketing remark (1459 chars)

   This charming 4-bedroom, 2-bathroom brick home is perfectly situated on a corner lot in a prime East Side location. You'll love the convenience of being just a stone's throw away from Plaza Park Middle School, making school mornings a breeze. The house offers a spacious and versatile layout, featuring an extra family room that opens up off the carport. This additional living space provides plenty of room for family gatherings, entertaining friends, or creating your own cozy retreat. Step inside to discover new luxury vinyl tile (LVT) flooring that not only adds a touch of modern elegance but also makes for easy maintenance. The durable LVT flooring is perfect for busy lifestyles and ensures that your home remains stylish and functional for years to come. Enjoy soaking up the sunlight in the large sunroom, where you can indulge in a cup of coffee while taking in the views of your well-maintained yard. Speaking of the yard, the corner lot provides ample outdoor space for gardening, playing, or simply relaxing outdoors. One of the highlights of this property is its proximity to a variety of amenities. You'll find a range of dining options and shopping destinations just a short drive away, making it effortless to satisfy your culinary cravings or find that perfect outfit. With 4 bedrooms, there's plenty of room for the whole family to spread out and find their own personal space. The two bathrooms add to the convenience of everyday living.

5. 2023-08-08
   listed $185,000 Active 1459-char remark

   Show marketing remark (1459 chars)

   This charming 4-bedroom, 2-bathroom brick home is perfectly situated on a corner lot in a prime East Side location. You'll love the convenience of being just a stone's throw away from Plaza Park Middle School, making school mornings a breeze. The house offers a spacious and versatile layout, featuring an extra family room that opens up off the carport. This additional living space provides plenty of room for family gatherings, entertaining friends, or creating your own cozy retreat. Step inside to discover new luxury vinyl tile (LVT) flooring that not only adds a touch of modern elegance but also makes for easy maintenance. The durable LVT flooring is perfect for busy lifestyles and ensures that your home remains stylish and functional for years to come. Enjoy soaking up the sunlight in the large sunroom, where you can indulge in a cup of coffee while taking in the views of your well-maintained yard. Speaking of the yard, the corner lot provides ample outdoor space for gardening, playing, or simply relaxing outdoors. One of the highlights of this property is its proximity to a variety of amenities. You'll find a range of dining options and shopping destinations just a short drive away, making it effortless to satisfy your culinary cravings or find that perfect outfit. With 4 bedrooms, there's plenty of room for the whole family to spread out and find their own personal space. The two bathrooms add to the convenience of everyday living.

6. 2017-01-13
   soldstatus $114,900 308-char remark

   Show marketing remark (308 chars)

   This is a great value on the east side with 4 bedrooms and 2 baths. There is a large living room with a eat in kitchen. The area by laundry would be perfect for a office. This home is brick and includes a great sunroom, a workshop/mancave off the 2 car carport, large yard with yard barns and all appliances.

7. 2016-08-26
   listed $114,900 308-char remark

   Show marketing remark (308 chars)

   This is a great value on the east side with 4 bedrooms and 2 baths. There is a large living room with a eat in kitchen. The area by laundry would be perfect for a office. This home is brick and includes a great sunroom, a workshop/mancave off the 2 car carport, large yard with yard barns and all appliances.

ⓘ 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: $4,519 · $377/mo
• Projected year-2 tax: $4,519 · $377/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 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: $24,423
• − Mortgage interest: −$11,758
• − Property taxes: −$4,519
• − Insurance: −$1,050
• − Repairs & maintenance: −$1,954
• − Management: −$1,954
• − Depreciation: −$6,106
• Taxable loss: −$2,917
• Est. tax savings @ 24.0%: +$700
• After-tax cash flow: $1,217/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): 29,280
• Household income: $60,897
• Rent vs Own: 50.4% rent · 49.6% own
• Severe rent burden: 1652.0

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 (74%)
• Race & ethnicity: White 74% Black 13% Hispanic / Latino 6% Two or more races 4% Asian 2% Native American 1%
• Hispanic origin (detail): Mexican 5%
• Common ancestry: Slovak 3% Romanian 2% Italian 2%
• Foreign-born: 6% · Canada, China
• Languages at home: 93% English-only · Spanish 4% Chinese 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: ▼ -113.01%
• Current HPI: 195.7299
• Rent YoY: —
• 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

+82.7% since first listed

7 events — show timeline

• 2026-04-09 Pending — IRMLS
• 2026-04-08 Listed $209,900 IRMLS
• 2023-09-19 Sold (MLS) $185,000 IRMLS
• 2023-08-10 Pending — IRMLS
• 2023-08-08 Listed $185,000 IRMLS
• 2017-01-13 Sold (MLS) $114,900 IRMLS
• 2016-08-26 Listed $114,900 IRMLS

Property tax history

+12.3%/yr

Latest (2024): $4,519 · +287.6% YoY. Source: county tax records.