1200 N Third Ave · Evansville, IN 47710

$97,000

2 bd · 1.0 ba · 1,331 sqft · SingleFamily public records · 89 Days on market

Built 1904 3,920 sqft lot

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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 +24.7/30.0
• DSCR +8.0/10.0
• ARV discount +7.5/15.0
• 1% rule +6.0/10.0
• 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

Wonderful size 3 bedroom home with just over 1300 square feet. Very large living and dinning room with old character and charm. New flooring stalled and needs a little more TLC. Wonderful covered front porch. Sitting on a corner lot with 1 car garage and fenced in yard. Home being sold As-Is.

Key facts

• Covered front porch
• Corner lot
• Fenced in yard

Tags

• COVERED FRONT PORCH
• CORNER LOT
• FENCED IN YARD

Property features AI

Exterior

• Parking: Detached 1-car garage
• Utilities: Public water; Public sewer
• Home design: Single-family residence, site-built; One story
• Construction: Shingle siding with asphalt (roof/materials); Block foundation
• Exterior features: Corner lot; Lot dimensions approximately 25 x 159

Interior

• Bedrooms: Total of 7 rooms (bedroom count not specified)
• Bathrooms: One full bathroom on the main level
• Heating & cooling: Central air conditioning; Natural gas forced air heating
• Interior features: Living room fireplace (1)
• Laundry & utility: Laundry located on the main level; Basement includes crawl space, partial, unfinished

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $97k.

Deal economics

• At list price, monthly cash flow is $204 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $97k).
• Recommended offer: $91k (6.0% below list) — sets the bar for market timing.
• Cap rate 8.8% 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: Cedar Hall Community School (math 13% / reading 19%, grade F, #854 of 994 statewide, top 86%, 509 students, 93% FRL); Central High School (math 38% / reading 74%, grade C, #73 of 369 statewide, top 20%, 1,090 students, 52% FRL) — zoned schools average 72% FRL vs 50% district-wide (23 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 88 active listings in the ZIP; 12 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 $671 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 89 days — a 6% lower offer ($91k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 7y 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.

Risks & watch-outs

• Watch-outs: built in 1904 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate 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 $91,180 (6.0% below list)

Questions for the listing agent

1. It's been on market 89 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 1904 — 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. 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?
7. 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.
8. 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.
9. 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: 1.10% ✓
• Cap rate: 8.81%
• Cash-on-cash: 9.00%
• DSCR: 1.40
• GRM: 7.5

CMA / ARV

• ARV (on-the-fly): $61,226
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1034 N Fourth Ave	0.10mi	2/1.0	1,200 (-10%)	16mo	$35,000	$29	66
1321 Oakley St	0.26mi	3/1.0 (+1)	1,506 (+13%)	4mo	$14,000	$9	58
1203 Edgar St	0.32mi	3/1.0 (+1)	1,512 (+14%)	0mo	$86,000	$57	57
316 W Maryland St	0.54mi	3/1.0 (+1)	1,296 (-3%)	10mo	$60,000	$46	57
1112 1114 Read St	0.54mi	2/2.0	1,456 (+9%)	2mo	$17,500	$12	54
318 W Louisiana St	0.50mi	3/2.0 (+1)	1,224 (-8%)	2mo	$131,500	$107	52
25 W Maryland St	0.74mi	2/1.0	1,361 (+2%)	14mo	$52,000	$38	50
202 W Missouri St	0.61mi	3/3.0 (+1)	1,346 (+1%)	8mo	$135,000	$100	50
1110 W Delaware St	0.36mi	3/1.0 (+1)	1,529 (+15%)	5mo	$20,000	$13	50
29 W Florida St	0.70mi	3/1.0 (+1)	1,232 (-7%)	7mo	$135,000	$110	44
318 W Tennessee St	0.50mi	2/1.0	1,142 (-14%)	13mo	$13,000	$11	42
1200 Read St	0.53mi	2/1.0	1,134 (-15%)	12mo	$90,000	$79	40

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: -2.7%
• Equity multiple: 0.90×
• Total profit: $-2,751
• Equity at exit: $14,463

10-year hold

• IRR: 7.0%
• Equity multiple: 1.53×
• Total profit: $14,300
• Equity at exit: $8,387

Cash invested: $27,160 (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 47710

• Home prices YoY: -29.7%
• Active inventory: 88
• Price-to-rent: 7.5×

Monthly cashflow live

• Estimated rent: $1,071 high
• Mortgage (P&I): −$509
• Tax from tax record: −$93 /mo · $1,120/yr
• Insurance: −$40
• HOA: −$0
• Vacancy / Maint / Mgmt: −$225
• Net cashflow: $204

Break-even live

Break-even rent $813

Max offer price $97,000

Occupancy floor 76%

Sensitivity live

Price	-10% $259	-5% $231	+0% $204	+5% $176	+10% $149
Rent	-10% $119	-5% $161	+0% $204	+5% $246	+10% $288
Rate	-1.0pp $252	-0.5pp $228	base $204	+0.5pp $178	+1.0pp $153

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: $24,250
• Closing costs: $2,910
• Reserves months: —
• Total cash needed: —

Rent comps 12 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1319 Uhlhorn St Evansville, IN	3.0	2.0	1424	$1,350	$0.95	14d	1	0.53mi
200 N Main St Evansville, IN	2.0	1.0–2.0	857	$1,599	$1.86	14d	7	0.96mi
313 NW Martin Luther King Junior Blvd Unit 311 Evansville, IN	2.0	1.0	1200	$950	$0.79	22d	1	0.99mi
706 Court St Evansville, IN	2.0	1.5	1100	$850	$0.77	22d	1	1.00mi
41 W Division St Apt 200 Evansville, IN	2.0	2.0	1083	$1,500	$1.39	22d	1	1.02mi
2102 W Delaware St Evansville, IN	3.0	1.0	1083	$925	$0.85	14d	1	1.03mi
1900 W Indiana St Evansville, IN	3.0	1.0	960	$995	$1.04	22d	1	1.07mi
1008 Allens Ln Evansville, IN	2.0	1.0	1081	$750	$0.69	22d	1	1.24mi
100 SE 1st St Evansville, IN	1.0–2.0	1.0–2.0	715	$1,725	$2.41	14d	17	1.40mi
702 Fairway Dr Evansville, IN	1.0–2.0	1.0	800	$640	$0.80	22d	2	1.46mi
202 SE 1st St Evansville, IN	1.0–2.0	1.0	926	$2,449	$2.64	22d	4	1.46mi
2517 W Illinois St Evansville, IN	2.0	1.0	938	$960	$1.02	22d	1	1.50mi

Listing history 16 events

1. 2026-06-17
   days on market $97,000 Active 89 DOM
2. 2026-06-16
   days on market $97,000 Active 88 DOM
3. 2026-06-15
   days on market $97,000 Active 87 DOM
4. 2026-06-14
   days on market $97,000 Active 85 DOM
5. 2026-06-13
   days on market $97,000 Active 84 DOM
6. 2026-06-10
   days on market $97,000 Active 82 DOM
7. 2026-06-09
   days on market $97,000 Active 81 DOM
8. 2026-06-08
   days on market $97,000 Active 80 DOM
9. 2026-06-07
   days on market $97,000 Active 79 DOM
10. 2026-06-02
    days on market $97,000 Active 74 DOM
11. 2026-06-01
    days on market $97,000 Active 73 DOM
12. 2026-05-31
    days on market $97,000 Active 72 DOM
13. 2026-05-30
    days on market $97,000 Active 71 DOM
14. 2026-05-24
    price $97,000
15. 2026-03-20
    listed $99,000 Active
16. 2019-07-08
    listed $54,000

ⓘ 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: $1,120 · $93/mo
• Projected year-2 tax: $1,120 · $93/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 5/10 Major FEMA zone X (unshaded) · 68% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 5/10 Major 7 d/yr ≥106°F today · 19 d/yr by 30 yrs out
• 💨 Wind 3/10 Moderate 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: $12,851
• − Mortgage interest: −$5,434
• − Property taxes: −$1,120
• − Insurance: −$485
• − Repairs & maintenance: −$1,028
• − Management: −$1,028
• − Depreciation: −$2,822
• Taxable income: $935
• Est. tax owed @ 24.0%: −$224
• After-tax cash flow: $2,219/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): 18,309
• Household income: $47,292
• Rent vs Own: 46.6% rent · 53.4% own
• Severe rent burden: 722.0

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 (83%)
• Race & ethnicity: White 83% Two or more races 7% Black 6% Hispanic / Latino 4%
• Common ancestry: Scotch-Irish 2% Lithuanian 1% Slovak 1%
• Foreign-born: 2% · Canada, China
• Languages at home: 97% English-only · Spanish 3%

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: ▼ -91.84%
• Current HPI: 217.586
• Rent YoY: —
• 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

+79.6% since first listed

3 events — show timeline

• 2026-05-24 Price Changed $97,000 IRMLS
• 2026-03-20 Listed $99,000 IRMLS
• 2019-07-08 Listed $54,000 IRMLS

Property tax history

+2.9%/yr

Latest (2024): $1,120 · +2.7% YoY. Source: county tax records.