1309 N Fourth Ave · Evansville, IN 47714

$82,475

4 bd · 1.0 ba · 1,432 sqft · SingleFamily public records · 63 Days on market

Built 1904 5,663 sqft lot Est $82k · at est.

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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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.0/15.0
• 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

This house is a part of a package deal. These are all tenant occupied rental properties that are professionally managed. The photos are when the property was vacant to keep the privacy of the tenants. The following houses are for sale for a total price of $339,900.00 | 720 E Florida St, Evansville, IN - Rented at $795/m | 1550 S Morton Ave, Evansville, IN - Rented at $950/m | 1319 Oakley St, Evansville, IN - Rented at $1150/m | 1309 N Fourth Ave, Evansville, IN - Rented at $900/m | Total Rent - $3,795/m These are all Single Family homes where the tenants are responsible for all utilities.

Key facts

• 5,663 sq ft lot
• Built 1904
• Listed 63 days

Property features AI

Finance

• Other: Property located at 1309 N Fourth Ave, Evansville, IN 47714

Exterior

• Parking: Off-street parking
• Utilities: Public water; Public sewer
• Home design: Single-family residence (site-built); One story
• Construction: Vinyl siding
• Exterior features: Level lot; Lot dimensions approximately 133 x 42

Interior

• Bathrooms: One full bathroom; One half bathroom; Two main-level bathrooms
• Heating & cooling: Central air conditioning; Natural gas forced-air heating
• Interior features: Partial basement; Six total rooms
• Laundry & utility: Laundry on the main level

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $82k.

Deal economics

• At list price, monthly cash flow is $482 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $82k).
• Recommended offer: $78k (6.0% below list) — sets the bar for market timing.
• Cap rate 13.3% 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: Rents rising fast (+7.9%/yr); 188 active listings in the ZIP; 5 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 $570 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 7.9% rent growth), your $23k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 63 days — a 6% lower offer ($78k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1904 — expect roof / HVAC / electrical / plumbing capex.
• 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 $77,526 (6.0% below list)

Questions for the listing agent

1. It's been on market 63 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: 1.62% ✓
• Cap rate: 13.31%
• Cash-on-cash: 25.05%
• DSCR: 2.11
• GRM: 5.2

CMA / ARV

• ARV (on-the-fly): $81,624
• Comps found: 9

Show comp detail 9 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1321 Oakley St	0.29mi	3/1.0 (-1)	1,506 (+5%)	4mo	$14,000	$9	70
1203 Edgar St	0.37mi	3/1.0 (-1)	1,512 (+6%)	0mo	$86,000	$57	68
1110 W Delaware St	0.42mi	3/1.0 (-1)	1,529 (+7%)	5mo	$20,000	$13	60
1216 N Second Ave	0.14mi	4/1.0	1,600 (+12%)	18mo	$79,900	$50	59
922 Edgar St	0.40mi	4/1.0	1,631 (+14%)	15mo	$147,000	$90	46
316 W Maryland St	0.61mi	3/1.0 (-1)	1,296 (-10%)	10mo	$60,000	$46	42
202 W Missouri St	0.66mi	3/3.0 (-1)	1,346 (-6%)	8mo	$135,000	$100	40
318 W Louisiana St	0.55mi	3/2.0 (-1)	1,224 (-14%)	2mo	$131,500	$107	39
29 W Florida St	0.74mi	3/1.0 (-1)	1,232 (-14%)	7mo	$135,000	$110	32

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: 23.9%
• Equity multiple: 2.05×
• Total profit: $24,210
• Equity at exit: $12,297

10-year hold

• IRR: 34.8%
• Equity multiple: 4.97×
• Total profit: $91,769
• Equity at exit: $7,131

Cash invested: $23,093 (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: 5.2×

Monthly cashflow live

• Estimated rent: $1,334 medium
• Mortgage (P&I): −$433
• Tax from tax record: −$105 /mo · $1,260/yr
• Insurance: −$34
• HOA: −$0
• Vacancy / Maint / Mgmt: −$280
• Net cashflow: $482

Break-even live

Break-even rent $724

Max offer price $82,475

Occupancy floor 59%

Sensitivity live

Price	-10% $529	-5% $505	+0% $482	+5% $459	+10% $435
Rent	-10% $377	-5% $429	+0% $482	+5% $535	+10% $588
Rate	-1.0pp $524	-0.5pp $503	base $482	+0.5pp $461	+1.0pp $439

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: $20,619
• Closing costs: $2,474
• Reserves months: —
• Total cash needed: —

Rent comps 5 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	0.45mi
109 E Eichel Ave Unit B Evansville, IN	4.0	2.0	1228	$1,257	$1.02	22d	1	0.95mi
121 E Florida St Evansville, IN	4.0	2.0	1702	$100	$0.06	22d	1	0.97mi
2102 W Delaware St Evansville, IN	3.0	1.0	1083	$925	$0.85	14d	1	1.01mi
1900 W Indiana St Evansville, IN	3.0	1.0	960	$995	$1.04	22d	1	1.08mi

Listing history 16 events

1. 2026-06-18
   days on market $82,475 Active 63 DOM
2. 2026-06-17
   price $82,475 Active 62 DOM
3. 2026-06-17
   days on market $84,975 Active 62 DOM
4. 2026-06-16
   days on market $84,975 Active 61 DOM
5. 2026-06-15
   days on market $84,975 Active 60 DOM
6. 2026-06-14
   days on market $84,975 Active 58 DOM
7. 2026-06-13
   days on market $84,975 Active 57 DOM
8. 2026-06-10
   days on market $84,975 Active 55 DOM
9. 2026-06-09
   days on market $84,975 Active 54 DOM
10. 2026-06-08
    days on market $84,975 Active 53 DOM
11. 2026-06-07
    days on market $84,975 Active 52 DOM
12. 2026-06-02
    days on market $84,975 Active 47 DOM
13. 2026-06-01
    days on market $84,975 Active 46 DOM
14. 2026-05-31
    days on market $84,975 Active 45 DOM
15. 2026-05-30
    days on market $84,975 Active 44 DOM
16. 2026-04-17
    listed $84,975 Active

ⓘ 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: $1,260 · $105/mo
• Projected year-2 tax: $1,260 · $105/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 (unshaded) · 0% 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: $16,011
• − Mortgage interest: −$4,620
• − Property taxes: −$1,260
• − Insurance: −$412
• − Repairs & maintenance: −$1,281
• − Management: −$1,281
• − Depreciation: −$2,399
• Taxable income: $4,757
• Est. tax owed @ 24.0%: −$1,142
• After-tax cash flow: $4,644/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

1 event — show timeline

• 2026-04-17 Listed $84,975 IRMLS

Property tax history

+22.2%/yr

Latest (2024): $1,260 · +25.1% YoY. Source: county tax records.