1114 N Second Ave · Evansville, IN 47710

$94,900

2 bd · 1.0 ba · 1,943 sqft · SingleFamily public records · 230 Days on market

Built 1899 3,049 sqft lot

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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
• DSCR +10.0/10.0
• 1% rule +9.0/10.0
• ARV discount +7.5/15.0
• 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

Welcome home to 1114 N Second Ave. Two story, 3 bedrooms, 2 full baths with many upgrades, eat in kitchen, fenced back yard, high efficiency 90% HVAC. There is a bathroom on each floor. As per seller, roof is 2 years old and there are 2 water heaters. The stove is one year old. Sale includes the lot next door, 1112 N Second St. Currently rented month to month. Seller requests 24 hour response time on all offers. Sold As Is.

Key facts

• Fenced back yard
• Roof is 2 years old
• High efficiency hvac

Tags

• FENCED BACK YARD
• HIGH EFFICIENCY HVAC
• EAT IN KITCHEN
• ROOF IS 2 YEARS OLD
• TWO WATER HEATERS
• INCLUDES LOT NEXT DOOR

Property features AI

Exterior

• Parking: Off-street parking
• Utilities: Public water; Public sewer
• Home design: Single-family residence; Site-built home; 2 stories
• Construction: Aluminum siding; Vinyl siding
• Exterior features: Level lot; Lot dimensions approximately 25 x 130

Interior

• Kitchen: Electric range
• Bedrooms: Total of 5 rooms (includes living spaces and bedrooms)
• Bathrooms: 2 full bathrooms; 1 main-level bathroom
• Heating & cooling: Electric heating; Central air conditioning
• Interior features: Electric range; Unfinished basement
• Laundry & utility: Laundry located in the basement

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $95k.

Deal economics

• At list price, monthly cash flow is $433 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $95k).
• Recommended offer: $84k (12.0% below list) — sets the bar for market timing.
• Cap rate 11.8% 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; 4 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); 508 units permitted in Vanderburgh County in 2024 (32 in 5+ unit buildings).
• This rent runs 34% of the median local income ($47k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $656 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $27k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 230 days — a 12% lower offer ($84k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 13y 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 1899 — 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 $83,512 (12.0% below list)

Questions for the listing agent

1. It's been on market 230 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1899 — 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: 1.40% ✓
• Cap rate: 11.77%
• Cash-on-cash: 19.57%
• DSCR: 1.87
• GRM: 6.0

CMA / ARV

• ARV (on-the-fly): $46,632
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1025 N Second Ave	0.05mi	3/1.0 (+1)	1,938 (-0%)	1mo	$85,000	$44	91
1025 N Third Ave	0.10mi	3/2.0 (+1)	1,979 (+2%)	14mo	$18,500	$9	72
920 W Florida St	0.10mi	3/2.0 (+1)	1,875 (-4%)	11mo	$24,002	$13	72
615 N Third Ave	0.34mi	3/1.5 (+1)	1,858 (-4%)	1mo	$40,000	$22	70
1310 W Delaware St	0.48mi	2/1.0	2,022 (+4%)	10mo	$40,000	$20	62
618 N Fifth Ave	0.47mi	2/1.0	1,904 (-2%)	16mo	$60,000	$32	62
41 W Maryland St	0.61mi	3/2.0 (+1)	1,960 (+1%)	3mo	$85,000	$43	59
313 W Florida St	0.42mi	3/1.0 (+1)	2,064 (+6%)	8mo	$40,000	$19	58
514 N 3rd Ave	0.41mi	3/2.0 (+1)	1,969 (+1%)	18mo	$135,000	$69	54
925 N Third Ave	0.15mi	3/1.0 (+1)	1,720 (-12%)	22mo	$102,500	$60	51
112 W Missouri St	0.54mi	3/2.0 (+1)	1,704 (-12%)	12mo	$30,000	$18	35
910 W Virginia St	0.45mi	3/1.0 (+1)	1,672 (-14%)	20mo	$40,000	$24	34

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: 11.6%
• Equity multiple: 1.46×
• Total profit: $12,216
• Equity at exit: $14,150

10-year hold

• IRR: 20.6%
• Equity multiple: 2.74×
• Total profit: $46,155
• Equity at exit: $8,205

Cash invested: $26,572 (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: 6.0×

Monthly cashflow live

• Estimated rent: $1,327 medium
• Mortgage (P&I): −$498
• Tax from tax record: −$78 /mo · $937/yr
• Insurance: −$40
• HOA: −$0
• Vacancy / Maint / Mgmt: −$279
• Net cashflow: $433

Break-even live

Break-even rent $779

Max offer price $94,900

Occupancy floor 62%

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: $23,725
• Closing costs: $2,847
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1317 Harriet St Evansville, IN	3.0	2.0	2000	$995	$0.50	13d	1	0.38mi
1319 Uhlhorn St Evansville, IN	3.0	2.0	1424	$1,350	$0.95	13d	1	0.65mi
315 SE 1st St Evansville, IN	1.0	1.0	1331	$1,695	$1.27	20d	1	1.47mi
322 SE 1st St Evansville, IN	1.0–2.0	1.0	1100	$1,700	$1.55	20d	6	1.48mi

Listing history 20 events

1. 2026-06-18
   days on market $94,900 Active 230 DOM
2. 2026-06-17
   days on market $94,900 Active 229 DOM
3. 2026-06-16
   days on market $94,900 Active 228 DOM
4. 2026-06-15
   days on market $94,900 Active 227 DOM
5. 2026-06-14
   days on market $94,900 Active 225 DOM
6. 2026-06-13
   days on market $94,900 Active 224 DOM
7. 2026-06-10
   days on market $94,900 Active 222 DOM
8. 2026-06-09
   days on market $94,900 Active 221 DOM
9. 2026-06-08
   days on market $94,900 Active 220 DOM
10. 2026-06-07
    days on market $94,900 Active 219 DOM
11. 2026-06-02
    days on market $94,900 Active 214 DOM
12. 2026-06-01
    days on market $94,900 Active 213 DOM
13. 2026-05-31
    days on market $94,900 Active 212 DOM
14. 2026-05-30
    days on market $94,900 Active 211 DOM
15. 2025-10-31
    listed $94,900 Active
16. 2025-02-03
    status Active
17. 2025-01-31
    status Pending
18. 2024-06-18
    listed $99,500 Active
19. 2015-12-09
    listed $44,900
20. 2013-09-21
    listed $44,900

ⓘ 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: $937 · $78/mo
• Projected year-2 tax: $937 · $78/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: $15,928
• − Mortgage interest: −$5,316
• − Property taxes: −$937
• − Insurance: −$474
• − Repairs & maintenance: −$1,274
• − Management: −$1,274
• − Depreciation: −$2,761
• Taxable income: $3,892
• Est. tax owed @ 24.0%: −$934
• After-tax cash flow: $4,266/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

+111.4% since first listed

6 events — show timeline

• 2025-10-31 Listed $94,900 IRMLS
• 2025-02-03 Relisted — IRMLS
• 2025-01-31 Pending — IRMLS
• 2024-06-18 Listed $99,500 IRMLS
• 2015-12-09 Listed $44,900 IRMLS
• 2013-09-21 Listed $44,900 IRMLS

Property tax history

-4.5%/yr

Latest (2024): $937 · +2.2% YoY. Source: county tax records.