419 E Virginia St · Evansville, IN 47711

$75,000

1 bd · 1.0 ba · 1,823 sqft · SingleFamily public records · 9 Days on market

Built 1869 3,485 sqft lot

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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
• DSCR +10.0/10.0
• 1% rule +9.5/10.0
• ARV discount +7.5/15.0
• Rent growth +4.2/5.0
• Schools +3.3/10.0
• Livability +3.2/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

This home has been updated with new paint, new flooring, drywall, new electrical, & Plumbing & water heater, new Baseboard heat ect. Schedule a tour, submit an offer. 24 hr notice for all showings * * * SUBJECT TO TENANTS RIGHT * * *

Key facts

• 3,485 sq ft lot
• Built 1869
• Listed 9 days

Property features AI

Finance

• Other: Lot dimensions approximately 25 x 137 (0.08 acre)

Exterior

• Parking: Driveway access
• Utilities: Public water; Public sewer
• Home design: Single-family site-built home; Two-story
• Construction: Aluminum siding; Partial unfinished basement
• Exterior features: Asphalt roof; Concrete road access (publicly maintained)

Interior

• Kitchen: Refrigerator; Electric range
• Bedrooms: Total of 5 rooms (includes bedrooms and living spaces)
• Flooring: Laminate flooring
• Bathrooms: One full bathroom on the main level
• Heating & cooling: Baseboard heating; Window air conditioning unit(s)
• Interior features: Laminate countertops
• Laundry & utility: Laundry on the main level

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath single-family listed at $75k.

Deal economics

• At list price, monthly cash flow is $346 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $75k).
• Cap rate 11.8% 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: Lincoln School (math 12% / reading 17%, grade F, #862 of 994 statewide, top 88%, 236 students, 88% FRL); Central High School (math 38% / reading 74%, grade C, #73 of 369 statewide, top 20%, 1,090 students, 52% FRL) — zoned schools average 70% FRL vs 50% district-wide (20 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising fast (+6.7%/yr); 229 active listings in the ZIP; 2 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 ~6 years — after that, you're playing with house money.

Negotiation context

• Only 9 days on market — expect competitive offers; lowballing is unlikely to land.
• 8 sale attempts since 8y 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 $2k; list at $75k implies a 4186% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1869 — 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 $75,000

Questions for the listing agent

1. Built in 1869 — 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. 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: 1.45% ✓
• Cap rate: 11.83%
• Cash-on-cash: 19.76%
• DSCR: 1.88
• GRM: 5.8

CMA / ARV

• ARV (on-the-fly): $156,778
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
401 E Iowa St	0.07mi	2/1.0 (+1)	1,868 (+2%)	17mo	$98,500	$53	74
20 W Eichel Ave	0.74mi	2/2.0 (+1)	1,552 (-15%)	6mo	$134,000	$86	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 · 6.72% rent growth · sell at horizon

5-year hold

• IRR: 16.0%
• Equity multiple: 1.67×
• Total profit: $14,102
• Equity at exit: $11,183

10-year hold

• IRR: 27.2%
• Equity multiple: 3.83×
• Total profit: $59,377
• 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: 229
• Price-to-rent: 5.8×

Monthly cashflow live

• Estimated rent: $1,086 medium
• Mortgage (P&I): −$393
• Tax from tax record: −$88 /mo · $1,053/yr
• Insurance: −$31
• HOA: −$0
• Vacancy / Maint / Mgmt: −$228
• Net cashflow: $346

Break-even live

Break-even rent $648

Max offer price $75,000

Occupancy floor 63%

Sensitivity live

Price	-10% $388	-5% $367	+0% $346	+5% $325	+10% $303
Rent	-10% $260	-5% $303	+0% $346	+5% $389	+10% $432
Rate	-1.0pp $384	-0.5pp $365	base $346	+0.5pp $326	+1.0pp $307

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 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
322 SE 1st St Evansville, IN	1.0–2.0	1.0	1100	$1,200	$1.09	21d	6	1.28mi
315 SE 1st St Evansville, IN	1.0	1.0	1331	$1,695	$1.27	21d	1	1.30mi

Listing history 8 events

1. 2026-06-18
   days on market $75,000 Active 9 DOM
2. 2026-06-17
   days on market $75,000 Active 8 DOM
3. 2026-06-16
   days on market $75,000 Active 7 DOM
4. 2026-06-15
   days on market $75,000 Active 6 DOM
5. 2026-06-14
   days on market $75,000 Active 4 DOM
6. 2026-06-13
   days on market $75,000 Active 3 DOM
7. 2026-06-09
   remarks 242-char remark
8. 2026-06-09
   listed $75,000 Active 1 DOM

ⓘ 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: $1,053 · $88/mo
• Projected year-2 tax: $1,053 · $88/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 ≥107°F today · 19 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 4% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 3 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $13,035
• − Mortgage interest: −$4,201
• − Property taxes: −$1,053
• − Insurance: −$375
• − Repairs & maintenance: −$1,043
• − Management: −$1,043
• − Depreciation: −$2,182
• Taxable income: $3,138
• Est. tax owed @ 24.0%: −$753
• After-tax cash flow: $3,397/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): 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

+569.6% since first listed

13 events — show timeline

• 2026-06-09 Listed $75,000 IRMLS
• 2024-12-13 Listing Removed — MIBOR as Distributed by MLS Grid
• 2024-06-03 Listed $75,000 MIBOR as Distributed by MLS Grid
• 2023-08-11 Price Changed $75,000 IRMLS
• 2023-07-06 Price Changed $80,000 IRMLS
• 2022-08-24 Price Changed $85,000 IRMLS
• 2022-08-24 Listed $900 IRMLS
• 2022-06-16 Listed $89,000 IRMLS
• 2020-07-27 Sold (MLS) $1,750 IRMLS
• 2020-01-16 Listed $5,000 IRMLS
• 2019-10-30 Listed $5,000 IRMLS
• 2018-07-23 Listed $7,900 IRMLS
• 2018-03-19 Listed $11,200 IRMLS

Property tax history

+9.6%/yr

Latest (2024): $1,053 · +1.2% YoY. Source: county tax records.