2117 W Indiana St · Evansville, IN 47712

$160,000

3 bd · 2.0 ba · 1,952 sqft · SingleFamily public records · 30 Days on market

Built 1889 3,049 sqft lot Est $223k · 28% under

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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 +16.4/30.0
• ARV discount +15.0/15.0
• DSCR +5.1/10.0
• 1% rule +3.4/10.0
• 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 MLS

Welcome home! This recently renovated space has so much to offer. Covered front porch, welcomes you into a spacious living room. High windows, fresh paint and new flooring, are airy and bright and lead you into the phenomenal kitchen. All new Stainless appliances stay, new kitchen island with butcher block top, and tiled backsplash make this a chefs dream. Remodeled full bath, and laundry room with storage are right off the kitchen. 15x14 Master Bedroom completes the main level with fresh paint, and carpet. Upper level has 3 additional bedrooms and another updated full bath. Fully fenced yard with landscaping is the perfect spot for a garden, and a place to grill. A yard barn, and two car carport complete this cute home. Updates include: Appliances, kitchen cabinets, all flooring/carpeting, paint, water heater, plumbing from the meter in, Toilets/vanities/fixtures, front door, and gas lines!

Key facts

• Covered front porch
• Tiled backsplash
• Eat-in kitchen

Tags

• COVERED FRONT PORCH
• EAT-IN KITCHEN
• STAINLESS STEEL APPLIANCES
• TILED BACKSPLASH
• CENTER ISLAND
• MAIN-LEVEL FULL BATHROOM

Property features AI

Exterior

• Parking: Has garage; 2-car garage spaces; Off-street parking; Carport
• Security: Smoke detectors
• Utilities: Public water; Public sewer
• Home design: Single-family residence; Site-built home; Single-story
• Construction: Aluminum siding; Vinyl siding; Asphalt roof; Has home warranty; Built with crawl-space foundation
• Exterior features: Patio; Covered patio; Porch; Fully fenced yard (chain link and wood); Shed(s)

Interior

• Kitchen: Disposal; Dishwasher; Microwave; Refrigerator; Electric cooktop; Electric oven
• Bedrooms: Primary bedroom on main level
• Flooring: Carpet; Other
• Bathrooms: Two full bathrooms; One main-level bathroom
• Heating & cooling: Natural gas heating; Forced air heating; Central air conditioning
• Interior features: Entrance foyer; Breakfast bar; Eat-in kitchen; Kitchen island; Primary bedroom on main level
• Laundry & utility: Laundry on main level; Crawl space

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $160k.

Deal economics

• At list price, monthly cash flow is $91 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $134k (16.2% below list).
• Recommended offer: $134k (16.2% below list) — sets the bar for 1% rule.
• Cap rate 7.0% 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: Cynthia Heights Elementary School (math 56% / reading 55%, grade C, #188 of 994 statewide, top 19%, 457 students, 43% FRL); Helfrich Park Stem Academy (math 36% / reading 47%, grade F, #108 of 330 statewide, top 34%, 517 students, 52% FRL); Francis Joseph Reitz High School (math 45% / reading 68%, grade C, #70 of 369 statewide, top 19%, 1,280 students, 44% FRL) — zoned schools at 47% FRL track the district average.
• Market conditions: 134 active listings in the ZIP; 1 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 $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 30 days — a 2% lower offer ($158k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 6y ago; this cycle's ask has dropped $10k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $138k; 16% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1889 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $134,094 (16.2% below list)

Questions for the listing agent

1. Built in 1889 — 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: 0.84% ✗
• Cap rate: 6.97%
• Cash-on-cash: 2.42%
• DSCR: 1.11
• GRM: 9.9

CMA / ARV

• ARV (on-the-fly): $222,528
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2117 W Indiana St	0.00mi	4/2.0 (+1)	1,952 (0%)	0mo	$155,000	$79	95
2200 W Virginia St	0.24mi	3/2.5	2,009 (+3%)	0mo	$166,400	$83	82
2206 W Virginia St	0.24mi	4/2.0 (+1)	2,006 (+3%)	4mo	$197,900	$99	76
2101 W Indiana St	0.04mi	4/2.0 (+1)	2,129 (+9%)	3mo	$250,000	$117	76
2029 W Indiana St	0.06mi	3/1.5	1,760 (-10%)	9mo	$175,000	$99	71
1910 W Illinois St	0.20mi	2/1.0 (-1)	2,112 (+8%)	7mo	$49,500	$23	62
2817 Hillcrest Ter	0.73mi	3/2.0	1,804 (-8%)	2mo	$212,000	$118	52
2726 W Franklin St	0.55mi	3/1.5	1,676 (-14%)	2mo	$195,000	$116	47
2721 Marion Ave	0.66mi	4/2.0 (+1)	1,695 (-13%)	1mo	$193,500	$114	41
2717 Marion Ave	0.66mi	3/1.5	2,197 (+13%)	9mo	$253,000	$115	39
2807 W Franklin St	0.67mi	2/1.0 (-1)	1,816 (-7%)	10mo	$169,900	$94	39
2732 Pennsylvania St	0.56mi	2/1.0 (-1)	1,668 (-14%)	9mo	$225,000	$135	33

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: -12.5%
• Equity multiple: 0.55×
• Total profit: $-20,226
• Equity at exit: $23,857

10-year hold

• IRR: -3.5%
• Equity multiple: 0.77×
• Total profit: $-10,449
• Equity at exit: $13,834

Cash invested: $44,800 (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 47712

• Home prices YoY: -32.1%
• Active inventory: 134
• Price-to-rent: 9.9×

Monthly cashflow live

• Estimated rent: $1,341 medium
• Mortgage (P&I): −$839
• Tax from tax record: −$63 /mo · $757/yr
• Insurance: −$67
• HOA: −$0
• Vacancy / Maint / Mgmt: −$282
• Net cashflow: $91

Break-even live

Break-even rent $1,226

Max offer price $160,000

Occupancy floor 88%

Sensitivity live

Price	-10% $181	-5% $136	+0% $91	+5% $45	+10% $0
Rent	-10% $-15	-5% $38	+0% $91	+5% $143	+10% $196
Rate	-1.0pp $171	-0.5pp $131	base $91	+0.5pp $49	+1.0pp $7

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: $40,000
• Closing costs: $4,800
• Reserves months: —
• Total cash needed: —

Rent comps 1 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	1.36mi

Listing history 12 events

1. 2026-05-30
   status $160,000 Pending 30 DOM
2. 2026-05-19
   status Active
3. 2026-05-19
   status Pending
4. 2026-05-13
   price $160,000
5. 2026-05-11
   status Active
6. 2026-04-17
   listed $170,000 Active
7. 2021-03-19
   soldstatus $138,000 906-char remark

   Show marketing remark (906 chars)

   Welcome home! This recently renovated space has so much to offer. Covered front porch, welcomes you into a spacious living room. High windows, fresh paint and new flooring, are airy and bright and lead you into the phenomenal kitchen. All new Stainless appliances stay, new kitchen island with butcher block top, and tiled backsplash make this a chefs dream. Remodeled full bath, and laundry room with storage are right off the kitchen. 15x14 Master Bedroom completes the main level with fresh paint, and carpet. Upper level has 3 additional bedrooms and another updated full bath. Fully fenced yard with landscaping is the perfect spot for a garden, and a place to grill. A yard barn, and two car carport complete this cute home. Updates include: Appliances, kitchen cabinets, all flooring/carpeting, paint, water heater, plumbing from the meter in, Toilets/vanities/fixtures, front door, and gas lines!

8. 2021-02-02
   listed $145,000 906-char remark

   Show marketing remark (906 chars)

   Welcome home! This recently renovated space has so much to offer. Covered front porch, welcomes you into a spacious living room. High windows, fresh paint and new flooring, are airy and bright and lead you into the phenomenal kitchen. All new Stainless appliances stay, new kitchen island with butcher block top, and tiled backsplash make this a chefs dream. Remodeled full bath, and laundry room with storage are right off the kitchen. 15x14 Master Bedroom completes the main level with fresh paint, and carpet. Upper level has 3 additional bedrooms and another updated full bath. Fully fenced yard with landscaping is the perfect spot for a garden, and a place to grill. A yard barn, and two car carport complete this cute home. Updates include: Appliances, kitchen cabinets, all flooring/carpeting, paint, water heater, plumbing from the meter in, Toilets/vanities/fixtures, front door, and gas lines!

9. 2020-07-15
   soldstatus $33,000 570-char remark

   Show marketing remark (570 chars)

   Property is offered as-is. This 1791 SQ FT 3 bedroom Westside home is walking distance to all the Franklin Street happenings! This property is eligible for 203k financing. Status "IE" insurability. “Plumbing failed to hold pressure at time of initial inspection. Due to this failure, HUD’s Field Service Manager will not permit the connection of water for the purpose of inspection. Only air test will be permitted on the plumbing. Please advise your potential lender to ensure they will permit an air test in lieu of the connection ofwater.”

10. 2020-07-15
    soldstatus $33,000

    Show marketing remark (570 chars)

    Property is offered as-is. This 1791 SQ FT 3 bedroom Westside home is walking distance to all the Franklin Street happenings! This property is eligible for 203k financing. Status "IE" insurability. “Plumbing failed to hold pressure at time of initial inspection. Due to this failure, HUD’s Field Service Manager will not permit the connection of water for the purpose of inspection. Only air test will be permitted on the plumbing. Please advise your potential lender to ensure they will permit an air test in lieu of the connection ofwater.”

11. 2020-05-15
    listed $30,000 570-char remark

    Show marketing remark (570 chars)

    Property is offered as-is. This 1791 SQ FT 3 bedroom Westside home is walking distance to all the Franklin Street happenings! This property is eligible for 203k financing. Status "IE" insurability. “Plumbing failed to hold pressure at time of initial inspection. Due to this failure, HUD’s Field Service Manager will not permit the connection of water for the purpose of inspection. Only air test will be permitted on the plumbing. Please advise your potential lender to ensure they will permit an air test in lieu of the connection ofwater.”

12. 2020-05-15
    listed $30,000

    Show marketing remark (570 chars)

    Property is offered as-is. This 1791 SQ FT 3 bedroom Westside home is walking distance to all the Franklin Street happenings! This property is eligible for 203k financing. Status "IE" insurability. “Plumbing failed to hold pressure at time of initial inspection. Due to this failure, HUD’s Field Service Manager will not permit the connection of water for the purpose of inspection. Only air test will be permitted on the plumbing. Please advise your potential lender to ensure they will permit an air test in lieu of the connection ofwater.”

ⓘ 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: $757 · $63/mo
• Projected year-2 tax: $1,059 · $88/mo
• Expected delta: +$301/yr (+$25/mo · 39.8%)

ⓘ 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 · 20 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: $16,091
• − Mortgage interest: −$8,962
• − Property taxes: −$757
• − Insurance: −$800
• − Repairs & maintenance: −$1,287
• − Management: −$1,287
• − Depreciation: −$4,655
• Taxable loss: −$1,658
• Est. tax savings @ 24.0%: +$398
• After-tax cash flow: $1,484/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): 25,444
• Household income: $68,494
• Rent vs Own: 34.6% rent · 65.4% own
• Severe rent burden: 797.0

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 (91%)
• Race & ethnicity: White 91% Two or more races 4% Hispanic / Latino 2% Black 2% Asian 2%
• Common ancestry: Romanian 3% Lithuanian 2% Italian 1%
• Foreign-born: 2% · China, Canada
• Languages at home: 97% English-only · Spanish 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: ▼ -101.86%
• Current HPI: 215.5153
• 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

+433.3% since first listed

11 events — show timeline

• 2026-05-19 Relisted — IRMLS
• 2026-05-19 Pending — IRMLS
• 2026-05-13 Price Changed $160,000 IRMLS
• 2026-05-11 Relisted — IRMLS
• 2026-04-17 Listed $170,000 IRMLS
• 2021-03-19 Sold (MLS) $138,000 IRMLS
• 2021-02-02 Listed $145,000 IRMLS
• 2020-07-15 Sold (MLS) $33,000 IRMLS
• 2020-07-15 Sold (MLS) $33,000 MIBOR as Distributed by MLS Grid
• 2020-05-15 Listed $30,000 MIBOR as Distributed by MLS Grid
• 2020-05-15 Listed $30,000 IRMLS

Property tax history

+3.2%/yr

Latest (2024): $757 · +10.4% YoY. Source: county tax records.