1411 N 12th St · Vincennes, IN 47591

$90,000

3 bd · 2.0 ba · 1,164 sqft · SingleFamily public records · 72 Days on market

Built 1925 6,970 sqft lot $77/sqft · 27% below area Est $122k · 27% under

---

Why this score? — see what drove the C+ 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 +22.3/30.0
• ARV discount +15.0/15.0
• DSCR +7.1/10.0
• 1% rule +5.8/10.0
• Livability +3.5/5.0
• Schools +3.0/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Unlock the potential of this ideally located property, perfect for investors or buyers looking to make it their own. This home offers endless possibilities with a spacious layout. Step inside to find a large living room that flows seamlessly into an open dining area—perfect for entertaining family and friends. The home features three bedrooms and two bathrooms, providing plenty of space and comfort. Enjoy the inviting sun porch, or take advantage of the basement for additional storage. Outside, you’ll love the beautiful backyard complete with a concrete patio and awning—ideal for outdoor gatherings. Additional highlights include a 1-car garage and a convenient carport for extra parking. With its great location and incredible potential, this property is ready for your vision—don’t miss out on this fantastic opportunity!

Key facts

• Open dining area
• Large living room
• Concrete patio

Tags

• SPACIOUS LAYOUT
• LARGE LIVING ROOM
• OPEN DINING AREA
• INVITING SUN PORCH
• BEAUTIFUL BACKYARD
• CONCRETE PATIO

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $90k.

Deal economics

• At list price, monthly cash flow is $148 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($975 rent vs $90k).
• Recommended offer: $85k (6.0% below list) — sets the bar for market timing.
• Cap rate 8.3% vs local median 5.0% in Vincennes — 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 70/100 on livability (#148 in IN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: amenities F, commute F, employment D-.
• Vincennes Community School Corporation (town): math 34% / reading 38% proficiency, ranked #193 of 301 in IN (top 64%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: James Whitcomb Riley Elem Sch (math 32% / reading 22%, grade F, #737 of 994 statewide, top 76%, 179 students, 83% FRL); George Rogers Clark School (math 27% / reading 34%, grade F, #203 of 330 statewide, top 63%, 609 students, 57% FRL); Lincoln High School (math 27% / reading 47%, grade F, #247 of 369 statewide, top 70%, 765 students, 55% FRL).
• Market conditions: 139 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 36 units permitted in Knox County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $622 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Knox County population projected at -13% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 72 days — a 6% lower offer ($85k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1925 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk; extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $84,600 (6.0% below list)

Questions for the listing agent

1. It's been on market 72 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1925 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
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: 1.08% ✓
• Cap rate: 8.27%
• Cash-on-cash: 7.06%
• DSCR: 1.31
• GRM: 7.7

CMA / ARV

• ARV (median comp): $122,482
• List price: $90,000
• Delta: -26.52%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
862 Ridgeway Ave	0.42mi	3/2.0	1,188 (+2%)	2mo	$159,000	$134	75
1306 Ridgeway Ave	0.39mi	3/1.0	1,144 (-2%)	1mo	$97,000	$85	74
1151 E St. Clair St	0.10mi	2/1.0 (-1)	1,096 (-6%)	6mo	$105,900	$97	72
1218 Mckinley Ave	0.28mi	2/1.0 (-1)	1,206 (+4%)	1mo	$185,000	$153	72
1001 E Locust St	0.19mi	2/1.0 (-1)	1,092 (-6%)	1mo	$65,000	$60	71
1303 N Upper 11th St	0.09mi	2/1.5 (-1)	1,298 (+12%)	1mo	$121,000	$93	69
1704 Indiana Ave	0.31mi	2/1.0 (-1)	1,128 (-3%)	4mo	$130,000	$115	68
1203 Ritterskamp Ave	0.41mi	3/1.0	1,194 (+3%)	6mo	$137,500	$115	68
914 N 9th St	0.42mi	2/1.5 (-1)	1,186 (+2%)	4mo	$73,501	$62	67
1172 E Locust St	0.03mi	2/1.0 (-1)	1,008 (-13%)	4mo	$130,000	$129	64
911 N 9th St	0.40mi	3/1.0	1,296 (+11%)	1mo	$27,500	$21	58
1304 Broadway St	0.70mi	2/1.0 (-1)	1,014 (-13%)	2mo	$35,000	$35	35

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: -5.5%
• Equity multiple: 0.80×
• Total profit: $-5,125
• Equity at exit: $13,419

10-year hold

• IRR: 4.2%
• Equity multiple: 1.31×
• Total profit: $7,758
• Equity at exit: $7,782

Cash invested: $25,200 (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 47591

• Home prices YoY: -19.5%
• Active inventory: 139
• Price-to-rent: 7.7×

Monthly cashflow live

• Estimated rent: $975 medium
• Mortgage (P&I): −$472
• Tax est. 1.5%: −$112 /mo · $1,350/yr
• Insurance: −$38
• HOA: −$0
• Vacancy / Maint / Mgmt: −$205
• Net cashflow: $148

Break-even live

Break-even rent $787

Max offer price $90,000

Occupancy floor 80%

Sensitivity live

Price	-10% $210	-5% $179	+0% $148	+5% $117	+10% $86
Rent	-10% $71	-5% $110	+0% $148	+5% $187	+10% $225
Rate	-1.0pp $194	-0.5pp $171	base $148	+0.5pp $125	+1.0pp $101

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: $22,500
• Closing costs: $2,700
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
721 N 7th St Unit A Vincennes, IN	2.0	1.0	1000	$975	$0.97	45d	1	0.54mi

Listing history 18 events

1. 2026-06-21
   days on market $90,000 Active 72 DOM
2. 2026-06-21
   days on market $90,000 Active 71 DOM
3. 2026-06-18
   days on market $90,000 Active 69 DOM
4. 2026-06-17
   days on market $90,000 Active 68 DOM
5. 2026-06-16
   days on market $90,000 Active 67 DOM
6. 2026-06-15
   days on market $90,000 Active 66 DOM
7. 2026-06-13
   days on market $90,000 Active 64 DOM
8. 2026-06-12
   days on market $90,000 Active 63 DOM
9. 2026-06-09
   days on market $90,000 Active 60 DOM
10. 2026-06-08
    days on market $90,000 Active 59 DOM
11. 2026-06-07
    days on market $90,000 Active 58 DOM
12. 2026-06-07
    days on market $90,000 Active 57 DOM
13. 2026-06-04
    pricedays on market $90,000 Active 54 DOM
14. 2026-06-02
    days on market $95,000 Active 53 DOM
15. 2026-06-01
    days on market $95,000 Active 52 DOM
16. 2026-05-31
    days on market $95,000 Active 51 DOM
17. 2026-05-31
    days on market $95,000 Active 50 DOM
18. 2026-04-10
    listed $95,000 Active 860-char remark

    Show marketing remark (860 chars)

    Unlock the potential of this ideally located property, perfect for investors or buyers looking to make it their own. This home offers endless possibilities with a spacious layout. Step inside to find a large living room that flows seamlessly into an open dining area—perfect for entertaining family and friends. The home features three bedrooms and two bathrooms, providing plenty of space and comfort. Enjoy the inviting sun porch, or take advantage of the basement for additional storage. Outside, you’ll love the beautiful backyard complete with a concrete patio and awning—ideal for outdoor gatherings. Additional highlights include a 1-car garage and a convenient carport for extra parking. With its great location and incredible potential, this property is ready for your vision—don’t miss out on this fantastic opportunity!

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 6/10 Major 71% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 5/10 Major 7 d/yr ≥105°F today · 19 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 2% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $11,700
• − Mortgage interest: −$5,041
• − Property taxes: −$1,350
• − Insurance: −$450
• − Repairs & maintenance: −$936
• − Management: −$936
• − Depreciation: −$2,618
• Taxable income: $368
• Est. tax owed @ 24.0%: −$88
• After-tax cash flow: $1,691/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: Vincennes Community School Corporation
• NCES district ID: 1812120
• Math proficiency: 34% ▼ -5.00%
• Reading proficiency: 38% ▼ -4.00%
• Median HH income: $38,359
• Composite: 30.05/100
• National rank: #6354
• State rank: #193 of 301 in IN

Livability — Vincennes

• Score: 70/100
• State rank: #148
• US rank: #7480

Category grades

Amenities F Commute F Cost of living A+ Crime B Employment D- Housing A+ Health & safety A+ User ratings F

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Vincennes, IN
• Population (ZIP): 25,191

Population outlook (Knox County) Hauer SSP2

• Today (2025): 37,092 people
• By 2030: 36,271 · -2.2%
• By 2040: 34,196 · -7.8%
• By 2050: 32,405 · -12.6%
• By 2075: 28,754 · -22.5%
• By 2100: 24,110 · -35.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (88%)
• Race & ethnicity: White 88% Two or more races 6% Hispanic / Latino 3% Black 2% Asian 1%
• Common ancestry: Lithuanian 4% Romanian 2% Slovak 2%
• Foreign-born: 3% · Canada, China
• Languages at home: 95% English-only · Spanish 2% French/Haitian/Cajun 1% Chinese 1%

Political lean MEDSL · Knox

• 2024 margin: Solid R (+50.4) · D 24.0% · R 74.4% · Other 1.6%
• 2008→2024 swing: -43.9pp toward R · 2008: -6.5pp · 2024: -50.4pp
• All cycles: 2024: R+50.4 2020: R+47.4 2016: R+47.2 2012: R+28.9 2008: R+6.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -47.26%
• Current HPI: 194.903
• 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

1 event — show timeline

• 2026-04-10 Listed $95,000 IRMLS

Property tax history

+3.7%/yr

Latest (2024): $20 · +33.3% YoY. Source: county tax records.