7419 Megan Brooke Ln · Evansville, IN 47725

$247,900

2 bd · 2.0 ba · 1,281 sqft · Condo public records · 22 Days on market

Built 2009 $271/mo HOA · 8% of rent

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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 +29.0/30.0
• DSCR +10.0/10.0
• 1% rule +8.3/10.0
• ARV discount +7.5/15.0
• 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

If you are looking for a low maintenance lifestyle check out this new listing in Hunter Chase Estates. This all brick condo on Evansville’s northeast side features 2 bedrooms, 2 full bathrooms, plus sunroom & 2 car attached garage. The covered front porch opens into a spacious living room showcasing a tray ceiling w/ crown molding then flowing into dining area which is all open to a well equipped kitchen. Kitchen offers granite countertops, granite sink, an abundance of kitchen cabinets, & breakfast bar for additional seating. Kitchen is fully equipped with all appliances: refrigerator, range, microwave, dishwasher, & disposal. Oversized panty is near with wood shelving along with 8 x 5 utility room with cabinets & wood shelving. Wider hallway and doors throughout plus lots of neutral paint. 1st full bathroom with high rise vanity and coat closet are located off the hallway. Owner’s suite features a nice large walk-in closet with wood shelving and full bathroom which is directly connected to the sunroom leading to a private fenced patio area to relax. 2nd bedroom also features walk-in closet with wood shelving and has a door leading to the patio. The 2 car garage includes work bench , sink , & 10 x 15 floored area above for storage. Average utilities - $180 per month. Association includes: swimming pool, clubhouse , and workout room. Monthly association fee includes: water, sewer, trash, lawn mowing , maintenance, snow removal , & exterior condo maintenance. SELLER REQUIRES 24 HR RESPONSE TIME TO ALL OFFERS, BUT HAS RIGHT TO ACCEPT PRIOR TO.

Key facts

• Covered front porch
• Refreshed end unit
• Granite counters

Tags

• COVERED FRONT PORCH
• REFRESHED END UNIT
• NEWER HVAC
• GRANITE COUNTERS
• OVERSIZED PANTRY
• NICE SIZED LAUNDRY ROOM

Property features AI

Finance

• Other: Located in the Hunter Chase Estates subdivision
• HOA & community: Homeowners association with clubhouse, fitness center, and pool; HOA fee applies

Exterior

• Parking: Attached garage; Two garage spaces; Garage with door opener; Aggregate driveway
• Utilities: Public water; Public sewer; Generator electrical setup
• Home design: Residential condominium; Condo/Villa; Single-story
• Construction: Brick construction; Slab foundation; Built with energy-efficient doors, HVAC, and windows
• Exterior features: Patio; Porch; Privacy fencing; Shingle roof; Level lot

Interior

• Kitchen: Disposal; Dishwasher; Microwave; Refrigerator; Electric oven; Electric range; Stone countertops
• Flooring: Carpet; Ceramic tile
• Bathrooms: Two full bathrooms; Both main-level bathrooms
• Heating & cooling: Heat pump; Central air
• Interior features: Walk-in closets; Breakfast bar; Crown molding; Tray ceilings; Stone countertops; Storm windows; Window treatments
• Laundry & utility: Washer and dryer included; Laundry located on main level; Electric water heater

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $248k.

Deal economics

• At list price, monthly cash flow is $850 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $248k).
• Recommended offer: $244k (1.5% below list) — sets the bar for market timing.
• Cap rate 10.4% 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: 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-school proficiency averages 58% at this address vs 40% district-wide (+18 pts) — the actual schools serving this property are materially stronger than the Evansville Vanderburgh School Corporation average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: 422 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals leasing fast (median 13d on market — plan ~1-2 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 $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $69k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 22 days — a 2% lower offer ($244k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 12y 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 $215k; 15% above their basis — modest negotiation headroom, anchor on the comps not their cost.

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 $244,181 (1.5% below list)

Questions for the listing agent

1. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
2. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.33% ✓
• Cap rate: 10.41%
• Cash-on-cash: 14.70%
• DSCR: 1.65
• GRM: 6.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 5.2%
• Equity multiple: 1.20×
• Total profit: $14,057
• Equity at exit: $36,963

10-year hold

• IRR: 14.7%
• Equity multiple: 2.19×
• Total profit: $82,286
• Equity at exit: $21,434

Cash invested: $69,412 (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 47725

• Home prices YoY: -28.3%
• Active inventory: 422
• Price-to-rent: 6.3×

Monthly cashflow live

• Estimated rent: $3,305 medium
• Mortgage (P&I): −$1,300
• Tax from tax record: −$86 /mo · $1,033/yr
• Insurance: −$103
• HOA: −$271
• Vacancy / Maint / Mgmt: −$694
• Net cashflow: $850

Break-even live

Break-even rent $2,228

Max offer price $247,900

Occupancy floor 69%

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: $61,975
• Closing costs: $7,437
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4808 Old Tyme Ct Evansville, IN	2.0	1.0–2.0	1052	$3,074	$2.92	13d	1	0.72mi
6231 Boston Way Unit 6231 Evansville, IN	2.0	2.0	1320	$3,500	$2.65	21d	1	0.72mi
5746 Winnett Dr Evansville, IN	3.0	2.0	1734	$2,200	$1.27	13d	1	1.12mi
4901 Pleasant Ridge Dr Evansville, IN	2.0–3.0	2.0	1130	$939	$0.83	13d	1	1.42mi

HOA detail condo

• Monthly dues: $271 · $3,252/yr
• Likely covers: watersewertrashsnow removalpool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 6 events

1. 2026-05-06
   listed $249,900 Active
2. 2024-04-19
   soldstatus $214,900 Closed 1613-char remark

   Show marketing remark (1613 chars)

   If you are looking for a low maintenance lifestyle check out this new listing in Hunter Chase Estates. This all brick condo on Evansville’s northeast side features 2 bedrooms, 2 full bathrooms, plus sunroom & 2 car attached garage. The covered front porch opens into a spacious living room showcasing a tray ceiling w/ crown molding then flowing into dining area which is all open to a well equipped kitchen. Kitchen offers granite countertops, granite sink, an abundance of kitchen cabinets, & breakfast bar for additional seating. Kitchen is fully equipped with all appliances: refrigerator, range, microwave, dishwasher, & disposal. Oversized panty is near with wood shelving along with 8 x 5 utility room with cabinets & wood shelving. Wider hallway and doors throughout plus lots of neutral paint. 1st full bathroom with high rise vanity and coat closet are located off the hallway. Owner’s suite features a nice large walk-in closet with wood shelving and full bathroom which is directly connected to the sunroom leading to a private fenced patio area to relax. 2nd bedroom also features walk-in closet with wood shelving and has a door leading to the patio. The 2 car garage includes work bench , sink , & 10 x 15 floored area above for storage. Average utilities - $180 per month. Association includes: swimming pool, clubhouse , and workout room. Monthly association fee includes: water, sewer, trash, lawn mowing , maintenance, snow removal , & exterior condo maintenance. SELLER REQUIRES 24 HR RESPONSE TIME TO ALL OFFERS, BUT HAS RIGHT TO ACCEPT PRIOR TO.

3. 2024-03-30
   status Pending 1613-char remark

   Show marketing remark (1613 chars)

   If you are looking for a low maintenance lifestyle check out this new listing in Hunter Chase Estates. This all brick condo on Evansville’s northeast side features 2 bedrooms, 2 full bathrooms, plus sunroom & 2 car attached garage. The covered front porch opens into a spacious living room showcasing a tray ceiling w/ crown molding then flowing into dining area which is all open to a well equipped kitchen. Kitchen offers granite countertops, granite sink, an abundance of kitchen cabinets, & breakfast bar for additional seating. Kitchen is fully equipped with all appliances: refrigerator, range, microwave, dishwasher, & disposal. Oversized panty is near with wood shelving along with 8 x 5 utility room with cabinets & wood shelving. Wider hallway and doors throughout plus lots of neutral paint. 1st full bathroom with high rise vanity and coat closet are located off the hallway. Owner’s suite features a nice large walk-in closet with wood shelving and full bathroom which is directly connected to the sunroom leading to a private fenced patio area to relax. 2nd bedroom also features walk-in closet with wood shelving and has a door leading to the patio. The 2 car garage includes work bench , sink , & 10 x 15 floored area above for storage. Average utilities - $180 per month. Association includes: swimming pool, clubhouse , and workout room. Monthly association fee includes: water, sewer, trash, lawn mowing , maintenance, snow removal , & exterior condo maintenance. SELLER REQUIRES 24 HR RESPONSE TIME TO ALL OFFERS, BUT HAS RIGHT TO ACCEPT PRIOR TO.

4. 2024-03-28
   listed $214,900 Active 1613-char remark

   Show marketing remark (1613 chars)

   If you are looking for a low maintenance lifestyle check out this new listing in Hunter Chase Estates. This all brick condo on Evansville’s northeast side features 2 bedrooms, 2 full bathrooms, plus sunroom & 2 car attached garage. The covered front porch opens into a spacious living room showcasing a tray ceiling w/ crown molding then flowing into dining area which is all open to a well equipped kitchen. Kitchen offers granite countertops, granite sink, an abundance of kitchen cabinets, & breakfast bar for additional seating. Kitchen is fully equipped with all appliances: refrigerator, range, microwave, dishwasher, & disposal. Oversized panty is near with wood shelving along with 8 x 5 utility room with cabinets & wood shelving. Wider hallway and doors throughout plus lots of neutral paint. 1st full bathroom with high rise vanity and coat closet are located off the hallway. Owner’s suite features a nice large walk-in closet with wood shelving and full bathroom which is directly connected to the sunroom leading to a private fenced patio area to relax. 2nd bedroom also features walk-in closet with wood shelving and has a door leading to the patio. The 2 car garage includes work bench , sink , & 10 x 15 floored area above for storage. Average utilities - $180 per month. Association includes: swimming pool, clubhouse , and workout room. Monthly association fee includes: water, sewer, trash, lawn mowing , maintenance, snow removal , & exterior condo maintenance. SELLER REQUIRES 24 HR RESPONSE TIME TO ALL OFFERS, BUT HAS RIGHT TO ACCEPT PRIOR TO.

5. 2014-12-19
   soldstatus $133,000 881-char remark

   Show marketing remark (881 chars)

   Gently lived in 2 bedroom, 2 bath Ranch condo that is wheelchair accessible. This all brick condo has 1259 sq feet. The kitchen is open to the living room and separated by a breakfast bar. Large kitchen with granite countertops and plenty of cabinets. There is an oversized pantry in the kitchen. The utility room is off of the kitchen and has additional cabinets for storage. The guest bath has a walk in shower. There is a patio door off of the guest bedroom and a large walk in closet. The Master bedroom has a full bath with a jet tub and a walk in closet. Off of the bedroom is a Eastern facing sunroom. Great for morning coffee. There is a door off of the sunroom that goes to the private , fenced in patio. The patio is big enough for a grill and many pieces of patio furniture. A 2 car attached garage completes this home and there is additional storage space in the attic.

6. 2014-11-07
   listed $135,900 881-char remark

   Show marketing remark (881 chars)

   Gently lived in 2 bedroom, 2 bath Ranch condo that is wheelchair accessible. This all brick condo has 1259 sq feet. The kitchen is open to the living room and separated by a breakfast bar. Large kitchen with granite countertops and plenty of cabinets. There is an oversized pantry in the kitchen. The utility room is off of the kitchen and has additional cabinets for storage. The guest bath has a walk in shower. There is a patio door off of the guest bedroom and a large walk in closet. The Master bedroom has a full bath with a jet tub and a walk in closet. Off of the bedroom is a Eastern facing sunroom. Great for morning coffee. There is a door off of the sunroom that goes to the private , fenced in patio. The patio is big enough for a grill and many pieces of patio furniture. A 2 car attached garage completes this home and there is additional storage space in the attic.

ⓘ 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: $1,033 · $86/mo
• Projected year-2 tax: $1,570 · $131/mo
• Expected delta: +$537/yr (+$45/mo · 52.0%)

ⓘ 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 3/10 Moderate 5% 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: $39,655
• − Mortgage interest: −$13,886
• − Property taxes: −$1,033
• − Insurance: −$1,240
• − Repairs & maintenance: −$3,172
• − Management: −$3,172
• − HOA: −$3,252
• − Depreciation: −$7,212
• Taxable income: $6,687
• Est. tax owed @ 24.0%: −$1,605
• After-tax cash flow: $8,597/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

• City population: 146,793
• Population (ZIP): 19,436

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 (92%)
• Race & ethnicity: White 92% Hispanic / Latino 3% Two or more races 3% Asian 2%
• Common ancestry: Romanian 2% Lithuanian 2% Slovak 1%
• Foreign-born: 2% · China
• Languages at home: 97% English-only · Other Asian/Pacific 1% Spanish 1% Tagalog/Filipino 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: ▼ -70.73%
• Current HPI: 179.2534
• 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

+83.9% since first listed

6 events — show timeline

• 2026-05-06 Listed $249,900 IRMLS
• 2024-04-19 Sold (MLS) $214,900 IRMLS
• 2024-03-30 Pending — IRMLS
• 2024-03-28 Listed $214,900 IRMLS
• 2014-12-19 Sold (MLS) $133,000 IRMLS
• 2014-11-07 Listed $135,900 IRMLS

Property tax history

-0.9%/yr

Latest (2024): $1,033 · -7.9% YoY. Source: county tax records.