1501 S Ruston Ave · Evansville, IN 47714

$109,900

3 bd · 1.0 ba · 1,216 sqft · SingleFamily public records · 54 Days on market

Built 1950 6,098 sqft lot Est $167k · 34% under

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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 +25.6/30.0
• ARV discount +15.0/15.0
• DSCR +8.5/10.0
• 1% rule +6.1/10.0
• Rent growth +4.5/5.0
• Schools +3.3/10.0
• Livability +3.2/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome home to 1501 S Ruston Avenue. This 3 bedroom home with over 1200 square feet, detached garage and fully fenced yard is ready for a new owner. The front of the home has nice shade trees, and a stone front. There are two large LIVING AREAS that could be used many ways, living room, family room, dining room or however you would like to use. The kitchen appliances, washer and dryer PLUS the garage refrigerator are included in the sale. Outside you will find a covered patio, fully fenced backyard and a detached garage. The owners are offering a one year HOME WARRANTY for your peace of mind. Don't let this great home pass you by.

Key facts

• Covered patio
• Stone exterior
• Mature shade trees

Tags

• FULLY FENCED BACKYARD
• DETACHED GARAGE
• MATURE SHADE TREES
• STONE EXTERIOR
• COVERED PATIO
• TWO SPACIOUS LIVING AREAS

Property features AI

Finance

• Other: Property listed by ERA First Advantage Realty, Inc.
• Financial info: Tax information not included
• HOA & community: Subdivision: Green Oaks

Exterior

• Parking: Detached garage with 1 garage space
• Security: Security features not specified
• Utilities: Public water; Public sewer
• Home design: Single-family site-built home; One story
• Construction: Vinyl siding; Block foundation
• Exterior features: Level lot; Lot dimensions approximately 120 x 51; Lot area about 0.14 acres

Interior

• Kitchen: Appliances not specified
• Bedrooms: Bedrooms not specified
• Flooring: Flooring not specified
• Bathrooms: 1 full bathroom (main level)
• Heating & cooling: Natural gas forced-air heating; Central air conditioning
• Interior features: Crawl space basement; 5 total rooms
• Laundry & utility: Laundry on main level

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $110k.

Deal economics

• At list price, monthly cash flow is $261 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $110k).
• Recommended offer: $107k (3.0% below list) — sets the bar for market timing.
• Cap rate 9.1% 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: Dexter Elementary School (math 17% / reading 12%, grade F, #862 of 994 statewide, top 88%, 328 students, 83% FRL); Washington Middle School (math 14% / reading 24%, grade F, #274 of 330 statewide, top 83%, 353 students, 70% FRL) — zoned schools average 76% FRL vs 50% district-wide (26 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 17% at this address vs 40% district-wide (-23 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; 23 comparable units currently listed for rent nearby; rentals at typical pace (median 22d 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 $760 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 7.9% rent growth), your $31k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 54 days — a 3% lower offer ($107k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 6y 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 $90k; 22% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1950 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $106,603 (3.0% below list)

Questions for the listing agent

1. It's been on market 54 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1950 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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 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: 1.11% ✓
• Cap rate: 9.14%
• Cash-on-cash: 10.17%
• DSCR: 1.45
• GRM: 7.5

CMA / ARV

• ARV (on-the-fly): $166,592
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1532 S Boeke Rd	0.16mi	2/1.0 (-1)	1,322 (+9%)	3mo	$124,630	$94	70
2118 Mahrendale Ave	0.45mi	3/1.5	1,276 (+5%)	1mo	$115,000	$90	68
2101 Waggoner Ave	0.54mi	3/1.0	1,268 (+4%)	1mo	$65,000	$51	67
1216 S Boeke Rd	0.22mi	3/2.0	1,088 (-10%)	2mo	$103,000	$95	67
2120 Monroe Ave	0.50mi	2/1.0 (-1)	1,152 (-5%)	2mo	$158,000	$137	61
3203 E Blackford Ave	0.56mi	3/2.0	1,287 (+6%)	0mo	$255,000	$198	60
2416 Helmuth Ave	0.52mi	3/1.0	1,336 (+10%)	0mo	$185,000	$138	59
1222 Vann Ave	0.39mi	2/2.0 (-1)	1,119 (-8%)	2mo	$183,500	$164	58
3029 Graham Ave	0.64mi	2/1.0 (-1)	1,178 (-3%)	3mo	$220,000	$187	58
1107 S Boeke Rd	0.33mi	2/1.5 (-1)	1,352 (+11%)	2mo	$68,000	$50	57
763 S Villa Dr	0.66mi	2/1.0 (-1)	1,276 (+5%)	1mo	$229,000	$179	56
2300 Margybeth Ave	0.73mi	3/2.0	1,104 (-9%)	2mo	$103,000	$93	46

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: 4.0%
• Equity multiple: 1.16×
• Total profit: $5,048
• Equity at exit: $16,386

10-year hold

• IRR: 17.5%
• Equity multiple: 2.76×
• Total profit: $54,124
• Equity at exit: $9,502

Cash invested: $30,772 (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 47714

• Rents YoY: 7.9%
• Active inventory: 188
• Price-to-rent: 7.5×

Monthly cashflow live

• Estimated rent: $1,220 high
• Mortgage (P&I): −$576
• Tax from tax record: −$81 /mo · $971/yr
• Insurance: −$46
• HOA: −$0
• Vacancy / Maint / Mgmt: −$256
• Net cashflow: $261

Break-even live

Break-even rent $890

Max offer price $109,900

Occupancy floor 74%

Sensitivity live

Price	-10% $323	-5% $292	+0% $261	+5% $230	+10% $199
Rent	-10% $164	-5% $213	+0% $261	+5% $309	+10% $357
Rate	-1.0pp $316	-0.5pp $289	base $261	+0.5pp $232	+1.0pp $203

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: $27,475
• Closing costs: $3,297
• Reserves months: —
• Total cash needed: —

Rent comps 23 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2947 Ravenswood Dr Unit 2927 Evansville, IN	2.0	1.0	1150	$975	$0.85	21d	1	0.24mi
1713 Hawthorne Ave Evansville, IN	3.0	2.0	1204	$1,395	$1.16	21d	1	0.32mi
900 S Saint James Blvd Evansville, IN	3.0	2.0	1118	$1,450	$1.30	21d	1	0.50mi
2001 S Taft Ave Evansville, IN	3.0	2.0	1472	$1,000	$0.68	21d	1	0.58mi
1762 Spring Ct Evansville, IN	2.0	1.0	975	$1,450	$1.49	21d	1	0.62mi
1320 Lee Ct Evansville, IN	1.0–4.0	1.0–1.5	1007	$1,266	$1.26	14d	36	0.67mi
3700 Justus Ct Evansville, IN	1.0–2.0	1.0–2.0	790	$975	$1.23	21d	1	0.70mi
1909 Taylor Ave Evansville, IN	2.0	1.0	700	$1,200	$1.71	14d	1	0.70mi
1411 Jeanette Ave Unit 1411 Evansville, IN	3.0	1.5	1210	$1,195	$0.99	21d	1	0.80mi
1952 Colts Ln Evansville, IN	1.0–3.0	1.0	1146	$1,275	$1.11	21d	8	0.87mi
1909 Plantation Ct Evansville, IN	2.0	1.0	780	$700	$0.90	21d	2	0.87mi
2232 E Riverside Dr Evansville, IN	2.0	1.0	810	$1,200	$1.48	14d	1	0.90mi
1505 Jackson Ave Evansville, IN	2.0	1.0	780	$995	$1.28	21d	1	1.02mi
1621 Burdette Ave Evansville, IN	2.0	1.0	720	$1,050	$1.46	21d	1	1.06mi
3951 Bellemeade Ave Unit D Evansville, IN	2.0	1.0	825	$1,100	$1.33	21d	1	1.09mi
2818 S Villa Dr Evansville, IN	3.0	1.0	1061	$1,295	$1.22	21d	1	1.11mi
1165 Shiloh Sq Evansville, IN	1.0–2.0	1.0–2.0	907	$1,145	$1.26	14d	15	1.11mi
1500 S Harlan Ave Evansville, IN	2.0	1.0	712	$900	$1.26	14d	1	1.30mi
4689 Covert Ave Unit 4629 Evansville, IN	2.0	1.0	725	$775	$1.07	14d	1	1.30mi
2340 Sunburst Blvd Unit 2270-318 Evansville, IN	2.0	1.0	815	$900	$1.10	21d	1	1.33mi
2340 Sunburst Blvd Unit 2200-202 Evansville, IN	3.0	1.0	973	$1,050	$1.08	21d	1	1.33mi
210 S Weinbach Ave Evansville, IN	3.0	1.0	1080	$1,450	$1.34	21d	1	1.38mi
950 S Hebron Ave Apt 301 Evansville, IN	2.0	1.0	1088	$1,900	$1.75	21d	1	1.38mi

Listing history 4 events

1. 2026-05-11
   status Pending
2. 2026-03-18
   listed $109,900 Active
3. 2020-07-02
   soldstatus $89,900 639-char remark

   Show marketing remark (639 chars)

   Welcome home to 1501 S Ruston Avenue. This 3 bedroom home with over 1200 square feet, detached garage and fully fenced yard is ready for a new owner. The front of the home has nice shade trees, and a stone front. There are two large LIVING AREAS that could be used many ways, living room, family room, dining room or however you would like to use. The kitchen appliances, washer and dryer PLUS the garage refrigerator are included in the sale. Outside you will find a covered patio, fully fenced backyard and a detached garage. The owners are offering a one year HOME WARRANTY for your peace of mind. Don't let this great home pass you by.

4. 2020-05-26
   listed $89,900 639-char remark

   Show marketing remark (639 chars)

   Welcome home to 1501 S Ruston Avenue. This 3 bedroom home with over 1200 square feet, detached garage and fully fenced yard is ready for a new owner. The front of the home has nice shade trees, and a stone front. There are two large LIVING AREAS that could be used many ways, living room, family room, dining room or however you would like to use. The kitchen appliances, washer and dryer PLUS the garage refrigerator are included in the sale. Outside you will find a covered patio, fully fenced backyard and a detached garage. The owners are offering a one year HOME WARRANTY for your peace of mind. Don't let this great home pass you by.

ⓘ 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: $971 · $81/mo
• Projected year-2 tax: $971 · $81/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 (shaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 5/10 Major 7 d/yr ≥107°F today · 18 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: $14,641
• − Mortgage interest: −$6,156
• − Property taxes: −$971
• − Insurance: −$550
• − Repairs & maintenance: −$1,171
• − Management: −$1,171
• − Depreciation: −$3,197
• Taxable income: $1,425
• Est. tax owed @ 24.0%: −$342
• After-tax cash flow: $2,788/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

+22.2% since first listed

4 events — show timeline

• 2026-05-11 Pending — IRMLS
• 2026-03-18 Listed $109,900 IRMLS
• 2020-07-02 Sold (MLS) $89,900 IRMLS
• 2020-05-26 Listed $89,900 IRMLS

Property tax history

+31.2%/yr

Latest (2024): $971 · +7.9% YoY. Source: county tax records.