1214 S Harlan Ave · Evansville, IN 47714

$132,000

2 bd · 1.0 ba · 991 sqft · SingleFamily public records · 8 Days on market

Built 1945 4,356 sqft lot Est $144k · 8% under ↓ 15% since listing

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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).

• Cash flow +13.9/30.0
• ARV discount +11.2/15.0
• Rent growth +4.5/5.0
• DSCR +4.2/10.0
• Schools +3.3/10.0
• Livability +3.2/5.0
• 1% rule +2.7/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Don't miss your opportunity to own this meticulously maintained home! Whether you're searching for the perfect starter home or looking to downsize, this charming and thoughtfully updated home checks all the boxes, and all within walking distance to schools. Welcoming you is the recently added fully enclosed front porch with Gutter Guards (all in 2022) - a spacious and inviting spot to relax, visit with guests, or simply enjoy quiet moments outdoors. Step inside to a cozy living room featuring a charming fireplace and chimney. While currently capped, it offers the potential to convert to a ventless fireplace, enhancing the warm and inviting atmosphere. Natural light pours in through inward

Key facts

• 1.5-car garage
• Major updates
• 4,356 sq ft lot

Tags

• FULLY ENCLOSED FRONT PORCH
• ABUNDANT COUNTER SPACE
• WATERPROOFED BASEMENT
• 1.5-CAR GARAGE
• MAJOR UPDATES

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $132k.

Deal economics

• At list price, monthly cash flow is $15 ($177/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 $102k (22.7% below list).
• Recommended offer: $102k (22.7% below list) — sets the bar for 1% rule.
• Cap rate 6.4% 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: Harper Elementary School (math 32% / reading 27%, grade F, #697 of 994 statewide, top 73%, 337 students, 74% FRL); Washington Middle School (math 14% / reading 24%, grade F, #274 of 330 statewide, top 83%, 353 students, 70% FRL) — zoned schools average 72% FRL vs 50% district-wide (22 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 24% at this address vs 40% district-wide (-15 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 (+7.9%/yr); 188 active listings in the ZIP; 31 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); 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 $913 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.

Negotiation context

• Only 8 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 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.

Risks & watch-outs

• Watch-outs: built in 1945 — 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 $102,030 (22.7% below list)

Questions for the listing agent

1. Built in 1945 — 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: 0.77% ✗
• Cap rate: 6.43%
• Cash-on-cash: 0.48%
• DSCR: 1.02
• GRM: 10.8

CMA / ARV

• ARV (on-the-fly): $143,695
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1401 Lodge Ave	0.19mi	3/1.0 (+1)	990 (-0%)	0mo	$145,000	$146	86
1451 Bellemeade Ave	0.60mi	2/1.0	1,016 (+2%)	2mo	$215,000	$212	67
711 Waggoner Ave	0.74mi	2/1.0	991 (0%)	1mo	$45,000	$45	65
1203 Lodge Ave	0.16mi	3/1.0 (+1)	864 (-13%)	4mo	$60,000	$69	63
1410 Sweetser Ave	0.60mi	2/1.0	928 (-6%)	1mo	$165,000	$178	61
713 S Runnymeade Ave	0.63mi	2/1.0	1,056 (+7%)	1mo	$153,500	$145	59
1913 Monroe Ave	0.62mi	2/1.0	936 (-6%)	4mo	$155,900	$167	59
1114 S Englewood Ave	0.39mi	3/1.0 (+1)	1,108 (+12%)	1mo	$154,000	$139	56
1107 S Evans Ave	0.61mi	2/1.0	1,096 (+11%)	0mo	$100,000	$91	54
1159 Sweetser Ave	0.59mi	2/1.0	888 (-10%)	2mo	$82,500	$93	53
1801 E Powell Ave	0.62mi	2/1.0	880 (-11%)	1mo	$168,500	$191	52
1810 Cass Ave	0.66mi	2/1.5	1,080 (+9%)	4mo	$125,000	$116	49

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 · 7.86% rent growth · sell at horizon

5-year hold

• IRR: -10.9%
• Equity multiple: 0.59×
• Total profit: $-15,275
• Equity at exit: $19,682

10-year hold

• IRR: 3.6%
• Equity multiple: 1.31×
• Total profit: $11,421
• Equity at exit: $11,413

Cash invested: $36,960 (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 47714

• Rents YoY: 7.9%
• Active inventory: 188
• Price-to-rent: 10.8×

Monthly cashflow live

• Estimated rent: $1,020 high
• Mortgage (P&I): −$692
• Tax from tax record: −$44 /mo · $529/yr
• Insurance: −$55
• HOA: −$0
• Vacancy / Maint / Mgmt: −$214
• Net cashflow: $15

Break-even live

Break-even rent $1,002

Max offer price $132,000

Occupancy floor 94%

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: $33,000
• Closing costs: $3,960
• Reserves months: —
• Total cash needed: —

Rent comps 31 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1500 S Harlan Ave Evansville, IN	2.0	1.0	712	$900	$1.26	13d	1	0.19mi
1021 Jefferson Ave Evansville, IN	1.0	1.0	798	$795	$1.00	13d	1	0.26mi
1505 Jackson Ave Evansville, IN	2.0	1.0	780	$995	$1.28	20d	1	0.32mi
1133 Bayard Park Dr Unit B Evansville, IN	2.0	1.0	990	$800	$0.81	20d	1	0.44mi
1909 Taylor Ave Evansville, IN	2.0	1.0	700	$1,200	$1.71	13d	1	0.64mi
734 Bayard Park Dr Evansville, IN	3.0	2.0	1000	$1,425	$1.43	20d	1	0.78mi
715 E Riverside Dr Evansville, IN	2.0	1.0	806	$895	$1.11	20d	1	0.79mi
605 Madison Ave Evansville, IN	2.0	1.0	1069	$1,375	$1.29	20d	1	0.80mi
1909 Plantation Ct Evansville, IN	2.0	1.0	780	$700	$0.90	20d	2	0.95mi
507 S Evans Ave Evansville, IN	2.0	1.0	750	$795	$1.06	20d	1	0.99mi
1952 Colts Ln Evansville, IN	1.0–3.0	1.0	1146	$1,035	$0.90	20d	8	0.99mi
1762 Spring Ct Evansville, IN	2.0	1.0	975	$1,450	$1.49	20d	1	1.00mi
304 S Grand Ave Evansville, IN	2.0	1.0	967	$955	$0.99	20d	1	1.06mi
827 Judson St Evansville, IN	3.0	1.0	1008	$1,295	$1.28	13d	1	1.13mi
1231 Culver Dr Unit C Evansville, IN	1.0	1.0	575	$625	$1.09	20d	1	1.13mi
1421 SE 2nd St Unit A Evansville, IN	1.0	1.0	800	$695	$0.87	13d	1	1.16mi
2340 Sunburst Blvd Unit 2210-104 Evansville, IN	1.0	1.0	631	$785	$1.24	20d	1	1.17mi
2340 Sunburst Blvd Unit 2200-202 Evansville, IN	3.0	1.0	973	$1,050	$1.08	20d	1	1.17mi
2340 Sunburst Blvd Unit 2270-318 Evansville, IN	2.0	1.0	815	$900	$1.10	20d	1	1.17mi
924 SE 6th St Unit A Evansville, IN	1.0	1.0	800	$875	$1.09	20d	1	1.21mi
1440 E Division St Evansville, IN	2.0	1.0	689	$1,250	$1.81	13d	1	1.22mi
1303 E Indiana St Evansville, IN	2.0	1.0	975	$1,195	$1.23	13d	1	1.24mi
1321 E Indiana St Evansville, IN	2.0	1.0	964	$1,050	$1.09	13d	1	1.24mi
210 S Weinbach Ave Evansville, IN	3.0	1.0	1080	$1,450	$1.34	20d	1	1.25mi
1415 E Indiana St Evansville, IN	2.0	1.0	814	$795	$0.98	13d	1	1.26mi
17 Washington Ave Evansville, IN	2.0	1.0	882	$1,455	$1.65	20d	1	1.29mi
8 E Blackford Ave Evansville, IN	1.0	1.0	750	$825	$1.10	20d	1	1.31mi
900 S Saint James Blvd Evansville, IN	3.0	2.0	1118	$1,450	$1.30	20d	1	1.39mi
2232 E Riverside Dr Evansville, IN	2.0	1.0	810	$1,200	$1.48	13d	1	1.46mi
615 SE 3rd St Unit D Evansville, IN	1.0	1.0	1122	$895	$0.80	20d	1	1.46mi
1680 E Franklin St #1682 Evansville, IN	2.0	1.0	675	$855	$1.27	20d	7	1.50mi

Listing history 6 events

1. 2026-04-22
   status Pending
2. 2026-04-14
   status Active
3. 2026-03-05
   status Pending
4. 2026-03-03
   listed $132,000 Active
5. 2025-04-21
   price $149,900
6. 2025-02-28
   listed $154,900 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: $529 · $44/mo
• Projected year-2 tax: $825 · $69/mo
• Expected delta: +$297/yr (+$25/mo · 56.1%)

ⓘ 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 (shaded) · 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: $12,244
• − Mortgage interest: −$7,394
• − Property taxes: −$529
• − Insurance: −$660
• − Repairs & maintenance: −$979
• − Management: −$979
• − Depreciation: −$3,840
• Taxable loss: −$2,138
• Est. tax savings @ 24.0%: +$513
• After-tax cash flow: $690/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): 32,132
• Household income: $55,910
• Rent vs Own: 39.8% rent · 60.2% own
• Severe rent burden: 1394.0

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 (71%)
• Race & ethnicity: White 71% Black 17% Two or more races 6% Hispanic / Latino 6% Asian 1%
• Hispanic origin (detail): Mexican 3%
• Common ancestry: Italian 3% Lithuanian 2% Slovak 1%
• Foreign-born: 6% · Canada, China
• Languages at home: 92% English-only · Spanish 4% Other Asian/Pacific 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: ▼ -124.80%
• Current HPI: 211.1755
• Rent YoY: ▲ 7.86%
• 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

-14.8% since first listed

6 events — show timeline

• 2026-04-22 Pending — IRMLS
• 2026-04-14 Relisted — IRMLS
• 2026-03-05 Pending — IRMLS
• 2026-03-03 Listed $132,000 IRMLS
• 2025-04-21 Price Changed $149,900 IRMLS
• 2025-02-28 Listed $154,900 IRMLS

Property tax history

+1.1%/yr

Latest (2024): $529 · +4.5% YoY. Source: county tax records.