900 E Walnut St · Evansville, IN 47713

$73,000

2 bd · 1.0 ba · 840 sqft · SingleFamily public records · 170 Days on market

Built 1901 1,308 sqft lot Est $70k · at est. ↓ 30% since listing

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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 +9.1/10.0
• ARV discount +5.4/15.0
• Rent growth +5.0/5.0
• Schools +3.3/10.0
• Livability +3.2/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome home to this move-in-ready 2 bed, 1 bath charmer featuring tall ceilings and original hardwood floors that add warmth throughout. A covered front porch leads you into a bright, spacious living room, and the eat-in kitchen offers tile flooring, a handy pantry, and an in-kitchen washer and dryer. Both bedrooms are comfortably sized, and the bathroom is well-appointed with matching tile. Additional storage is available in the partial unfinished basement. Outside, the low-maintenance yard keeps upkeep easy. Set along the new bike trails and right across from a freshly built playground, this home offers a convenient location with plenty to enjoy nearby.

Key facts

• Covered front porch
• Low-maintenance yard
• Handy pantry

Tags

• COVERED FRONT PORCH
• EAT-IN KITCHEN
• HANDY PANTRY
• IN-KITCHEN WASHER AND DRYER
• PARTIAL UNFINISHED BASEMENT
• LOW-MAINTENANCE YARD

Property features AI

Finance

• Other: Listing broker: Dauby Real Estate

Exterior

• Parking: No parking details provided
• Utilities: Public water; Public sewer
• Home design: Single-family residence (site-built); 1 story
• Construction: Vinyl siding; Foundation: brick/mortar and block
• Exterior features: Covered porch; Partial chain link fencing; Corner, level lot; Lot dimensions 41 x 36

Interior

• Kitchen: Eat-in kitchen; Laminate counters
• Bedrooms: Total rooms: 4
• Flooring: Hardwood; Tile
• Bathrooms: 1 full bathroom (main level)
• Heating & cooling: Forced air heating; Central air conditioning; Ceiling fans
• Interior features: Ceiling fans; Eat-in kitchen; Laminate countertops
• Laundry & utility: Laundry on main level; Basement: crawl space, partial, unfinished

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $73k.

Deal economics

• At list price, monthly cash flow is $350 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $73k).
• Recommended offer: $64k (12.0% below list) — sets the bar for market timing.
• Cap rate 12.0% 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: Fairlawn Elementary School (math 22% / reading 22%, grade F, #790 of 994 statewide, top 81%, 422 students, 76% FRL); Mcgary Middle School (math 8% / reading 15%, grade F, #311 of 330 statewide, top 94%, 351 students, 81% FRL); William Henry Harrison High School (math 29% / reading 54%, grade F, #211 of 369 statewide, top 58%, 1,158 students, 61% FRL) — zoned schools average 72% FRL vs 50% district-wide (23 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 25% at this address vs 40% district-wide (-14 pts) — the specific schools serving this property underperform the Evansville Vanderburgh School Corporation average; the district grade overstates school quality for this exact location.
• Market conditions: Rents rising fast (+9.9%/yr); 118 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); lower-income renter base — watch delinquency; 508 units permitted in Vanderburgh County in 2024 (32 in 5+ unit buildings).
• This rent runs 30% of the median local income ($41k/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 $505 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 8.0% rent growth), your $20k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 170 days — a 12% lower offer ($64k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $32k (30%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1901 — 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 $64,240 (12.0% below list)

Questions for the listing agent

1. It's been on market 170 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 1901 — 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: 1.41% ✓
• Cap rate: 12.04%
• Cash-on-cash: 20.54%
• DSCR: 1.91
• GRM: 5.9

CMA / ARV

• ARV (on-the-fly): $69,720
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1152 E Chandler Ave	0.63mi	3/1.0 (+1)	825 (-2%)	4mo	$127,000	$154	60
1136 E Chandler Ave	0.61mi	3/1.0 (+1)	825 (-2%)	9mo	$128,899	$156	56
1133 E Chandler Ave	0.64mi	2/1.0	864 (+3%)	12mo	$55,000	$64	55
1116 E Chandler Ave	0.60mi	2/1.0	796 (-5%)	12mo	$66,000	$83	53
1237 E Illinois St	0.54mi	2/1.0	906 (+8%)	12mo	$107,000	$118	52
1308 E Walnut St	0.45mi	2/1.0	964 (+15%)	7mo	$54,000	$56	49
717 E Iowa St	0.67mi	2/1.0	768 (-9%)	7mo	$31,700	$41	48
1520 E Indiana St	0.75mi	2/1.0	800 (-5%)	12mo	$123,000	$154	47
1303 E Indiana St	0.55mi	2/1.0	962 (+14%)	5mo	$22,000	$23	46
520 Bayard Park Dr	0.64mi	2/1.0	752 (-10%)	12mo	$115,000	$153	43
1117 E Chandler Ave	0.63mi	2/1.0	732 (-13%)	12mo	$52,500	$72	39
1109 E Chandler Ave	0.62mi	2/1.0	720 (-14%)	12mo	$52,500	$73	37

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 · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 18.1%
• Equity multiple: 1.78×
• Total profit: $15,892
• Equity at exit: $10,885

10-year hold

• IRR: 29.7%
• Equity multiple: 4.29×
• Total profit: $67,281
• Equity at exit: $6,312

Cash invested: $20,440 (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 47713

• Home prices YoY: -34.1%
• Rents YoY: 9.9%
• Active inventory: 118
• Price-to-rent: 5.9×

Monthly cashflow live

• Estimated rent: $1,030 high
• Mortgage (P&I): −$383
• Tax from tax record: −$51 /mo · $611/yr
• Insurance: −$30
• HOA: −$0
• Vacancy / Maint / Mgmt: −$216
• Net cashflow: $350

Break-even live

Break-even rent $588

Max offer price $73,000

Occupancy floor 61%

Sensitivity live

Price	-10% $391	-5% $371	+0% $350	+5% $329	+10% $309
Rent	-10% $268	-5% $309	+0% $350	+5% $391	+10% $431
Rate	-1.0pp $387	-0.5pp $368	base $350	+0.5pp $331	+1.0pp $312

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: $18,250
• Closing costs: $2,190
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
304 S Grand Ave Evansville, IN	2.0	1.0	967	$955	$0.99	22d	1	0.02mi
507 S Evans Ave Evansville, IN	2.0	1.0	750	$795	$1.06	22d	1	0.27mi
1303 E Indiana St Evansville, IN	2.0	1.0	975	$1,195	$1.23	14d	1	0.54mi
734 Bayard Park Dr Evansville, IN	3.0	2.0	1000	$1,425	$1.43	22d	1	0.55mi
1321 E Indiana St Evansville, IN	2.0	1.0	964	$1,050	$1.09	14d	1	0.57mi
1133 Bayard Park Dr Unit B Evansville, IN	2.0	1.0	990	$800	$0.81	22d	1	0.61mi
1440 E Division St Evansville, IN	2.0	1.0	689	$1,250	$1.81	14d	1	0.67mi
1415 E Indiana St Evansville, IN	2.0	1.0	814	$795	$0.98	14d	1	0.67mi
1021 Jefferson Ave Evansville, IN	1.0	1.0	798	$795	$1.00	14d	1	0.91mi
1680 E Franklin St #1682 Evansville, IN	2.0	1.0	675	$855	$1.27	22d	7	0.93mi
827 Judson St Evansville, IN	3.0	1.0	1008	$1,295	$1.28	14d	1	0.94mi
200 N Main St Evansville, IN	2.0	1.0–2.0	857	$1,599	$1.86	14d	7	0.95mi
41 W Division St Unit 101 Evansville, IN	1.0	1.0	634	$1,100	$1.74	22d	1	0.95mi
41 W Division St Apt 200 Evansville, IN	2.0	2.0	1083	$1,500	$1.39	22d	1	0.95mi
605 Madison Ave Evansville, IN	2.0	1.0	1069	$1,375	$1.29	22d	1	1.03mi
610 N Main St Evansville, IN	2.0	1.0	751	$675	$0.90	22d	1	1.04mi
924 SE 6th St Unit A Evansville, IN	1.0	1.0	800	$875	$1.09	22d	1	1.06mi
210 S Weinbach Ave Evansville, IN	3.0	1.0	1080	$1,450	$1.34	22d	1	1.09mi
8 E Blackford Ave Evansville, IN	1.0	1.0	750	$825	$1.10	22d	1	1.14mi
24 NW 6th St Apt 103 Evansville, IN	1.0	1.0	706	$1,300	$1.84	22d	1	1.14mi
706 Court St Evansville, IN	2.0	1.5	1100	$850	$0.77	22d	1	1.14mi
17 Washington Ave Evansville, IN	2.0	1.0	882	$1,455	$1.65	22d	1	1.18mi
615 SE 3rd St Unit D Evansville, IN	1.0	1.0	1122	$895	$0.80	22d	1	1.19mi
329 Main St Evansville, IN	1.0–2.0	1.0–2.0	717	$1,505	$2.10	14d	1	1.22mi
1500 S Harlan Ave Evansville, IN	2.0	1.0	712	$900	$1.26	14d	1	1.22mi
1231 Culver Dr Unit C Evansville, IN	1.0	1.0	575	$625	$1.09	22d	1	1.26mi
300 Main St Unit 1 D3 Evansville, IN	1.0	1.0	800	$2,000	$2.50	22d	1	1.28mi
1505 Jackson Ave Evansville, IN	2.0	1.0	780	$995	$1.28	22d	1	1.29mi
1018 Baker Ave Unit B Evansville, IN	1.0	1.0	800	$625	$0.78	22d	1	1.30mi
400 NW 5th St Unit 4 Evansville, IN	2.0	1.0	792	$725	$0.92	22d	1	1.31mi
322 SE 1st St Evansville, IN	1.0–2.0	1.0	1100	$1,700	$1.55	22d	6	1.33mi
101 SE 2nd St Evansville, IN	1.0	1.0	530	$750	$1.42	14d	1	1.34mi
202 SE 1st St Evansville, IN	1.0–2.0	1.0	926	$2,449	$2.64	22d	4	1.35mi
406 Edgar St Unit 1 Evansville, IN	1.0	1.0	530	$1,500	$2.83	22d	1	1.36mi
109 E Eichel Ave Unit A Evansville, IN	1.0	1.0	675	$745	$1.10	22d	1	1.36mi
100 SE 1st St Evansville, IN	1.0–2.0	1.0–2.0	715	$1,725	$2.41	14d	17	1.37mi
1421 SE 2nd St Unit A Evansville, IN	1.0	1.0	800	$695	$0.87	14d	1	1.38mi
32 W Tennessee St Evansville, IN	2.0	1.0	864	$925	$1.07	14d	1	1.43mi
715 E Riverside Dr Evansville, IN	2.0	1.0	806	$895	$1.11	22d	1	1.43mi
2151 E Columbia St #2193 Evansville, IN	1.0	1.0	600	$695	$1.16	14d	1	1.47mi

Listing history 10 events

1. 2026-05-06
   status Pending
2. 2026-04-27
   price $73,000
3. 2026-03-17
   price $79,000
4. 2026-02-17
   price $89,900
5. 2026-01-21
   price $94,000
6. 2025-12-12
   price $99,000
7. 2025-11-17
   listed $105,000 Active
8. 2025-10-24
   historical $982
9. 2025-10-18
   listed $982
10. 2023-07-27
    historical

ⓘ 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: $611 · $51/mo
• Projected year-2 tax: $616 · $51/mo
• Expected delta: +$5/yr ($0/mo · 0.8%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone X (unshaded) · 22% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 5/10 Major 7 d/yr ≥107°F today · 19 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 3% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $12,365
• − Mortgage interest: −$4,089
• − Property taxes: −$611
• − Insurance: −$365
• − Repairs & maintenance: −$989
• − Management: −$989
• − Depreciation: −$2,124
• Taxable income: $3,198
• Est. tax owed @ 24.0%: −$768
• After-tax cash flow: $3,431/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): 9,988
• Household income: $40,873
• Rent vs Own: 61.6% rent · 38.4% own
• Severe rent burden: 735.0

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: Diverse neighborhood (Simpson 0.60)
• Race & ethnicity: White 50% Black 39% Two or more races 7% Hispanic / Latino 3% Pacific Islander 1% Asian 1%
• Common ancestry: Romanian 2% Lithuanian 1% Italian 1%
• Foreign-born: 5% · Canada
• Languages at home: 96% English-only · Spanish 2% Tagalog/Filipino 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: ▼ -119.22%
• Current HPI: 229.9312
• Rent YoY: ▲ 9.87%
• 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

-30.5% since first listed

10 events — show timeline

• 2026-05-06 Pending — IRMLS
• 2026-04-27 Price Changed $73,000 IRMLS
• 2026-03-17 Price Changed $79,000 IRMLS
• 2026-02-17 Price Changed $89,900 IRMLS
• 2026-01-21 Price Changed $94,000 IRMLS
• 2025-12-12 Price Changed $99,000 IRMLS
• 2025-11-17 Listed $105,000 IRMLS
• 2025-10-24 Rental Removed $982 TENANTTURNER2
• 2025-10-18 Listed for Rent $982 TENANTTURNER2
• 2023-07-27 Rental Removed — APPFOLIO

Property tax history

+1.5%/yr

Latest (2024): $611 · +3.0% YoY. Source: county tax records.