1104 Adams Ave · Evansville, IN 47714

$95,000

3 bd · 1.0 ba · 1,400 sqft · SingleFamily public records · 137 Days on market

Built 1935 8,276 sqft lot Est $119k · 20% under

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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
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +8.3/10.0
• 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

3 bedroom 1 bath single story home. Sold as part of a package deal (#3) totaling 5 investment properties. Currently rented for $850/month. Package includes 1104 Adams Ave. , 1812 Hercules Ave. , 1217 Edgar St. , 1251 E Illinois St. , and 610 E Michigan St. for a total package purchase price of $475,000.00.

Key facts

• 8,276 sq ft lot
• Garage
• Built 1935

Property features AI

Exterior

• Parking: Detached off-street garage with 1 garage space
• Utilities: Public water; Public sewer
• Home design: Single-family residence (site-built); One story
• Construction: Wood siding construction; Partial unfinished crawl space basement
• Exterior features: Level lot; Covered porch; Asphalt roof

Interior

• Bedrooms: Rooms total: 6 (includes bedrooms)
• Flooring: Carpet; Laminate
• Bathrooms: 1 full bathroom on the main level
• Heating & cooling: Natural gas forced-air heating; Central air conditioning
• Interior features: Carpet and laminate flooring; Covered porch
• Laundry & utility: Laundry on main level

🏷️ Possibly a rental listed for sale. The $95,000 price doesn't fit this home's estimated sale value (~$119,000) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $95k.

Deal economics

• At list price, monthly cash flow is $417 ($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 11.6% 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: Glenwood Leadership Academy (math 10% / reading 12%, grade F, #909 of 994 statewide, top 92%, 416 students, 88% FRL) — zoned schools average 88% FRL vs 50% district-wide (38 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 11% at this address vs 40% district-wide (-28 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 (+7.9%/yr); 188 active listings in the ZIP; 14 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).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $657 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 7.9% rent growth), your $27k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 137 days — a 12% lower offer ($84k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 10y 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 1935 — 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 $83,600 (12.0% below list)

Questions for the listing agent

1. It's been on market 137 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 1935 — 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: 1.33% ✓
• Cap rate: 11.56%
• Cash-on-cash: 18.80%
• DSCR: 1.84
• GRM: 6.3

CMA / ARV

• ARV (on-the-fly): $119,000
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1025 Jefferson Ave	0.10mi	2/1.0 (-1)	1,453 (+4%)	5mo	$113,000	$78	80
1045 Bayard Park Dr	0.29mi	3/1.5	1,440 (+3%)	4mo	$110,000	$76	76
1414 Marshall Ave	0.44mi	3/1.0	1,364 (-3%)	1mo	$122,000	$89	74
1563 Marshall Ave	0.52mi	3/1.5	1,338 (-4%)	3mo	$83,000	$62	64
1225 S Bedford Ave	0.33mi	4/1.0 (+1)	1,522 (+9%)	2mo	$130,000	$85	64
1628 Washington Ave	0.57mi	3/2.0	1,453 (+4%)	1mo	$127,500	$88	63
712 E Blackford Ave	0.51mi	2/1.0 (-1)	1,327 (-5%)	1mo	$22,000	$17	62
1101 Ravenswood Dr	0.41mi	2/1.0 (-1)	1,269 (-9%)	1mo	$155,000	$122	60
951 S Rotherwood Ave	0.61mi	2/2.0 (-1)	1,418 (+1%)	2mo	$175,000	$123	58
1558 Henning Ave	0.49mi	2/1.0 (-1)	1,508 (+8%)	4mo	$65,000	$43	55
600 E Chandler Ave	0.67mi	3/2.0	1,525 (+9%)	3mo	$51,000	$33	47
710 Jefferson Ave	0.45mi	4/2.0 (+1)	1,594 (+14%)	4mo	$163,500	$103	44

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: 15.6%
• Equity multiple: 1.66×
• Total profit: $17,586
• Equity at exit: $14,165

10-year hold

• IRR: 27.4%
• Equity multiple: 3.96×
• Total profit: $78,705
• Equity at exit: $8,214

Cash invested: $26,600 (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: 6.3×

Monthly cashflow live

• Estimated rent: $1,260 high
• Mortgage (P&I): −$498
• Tax from tax record: −$41 /mo · $488/yr
• Insurance: −$40
• HOA: −$0
• Vacancy / Maint / Mgmt: −$265
• Net cashflow: $417

Break-even live

Break-even rent $732

Max offer price $95,000

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: $23,750
• Closing costs: $2,850
• Reserves months: —
• Total cash needed: —

Rent comps 14 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1133 Bayard Park Dr Unit B Evansville, IN	2.0	1.0	990	$800	$0.81	21d	1	0.30mi
734 Bayard Park Dr Evansville, IN	3.0	2.0	1000	$1,425	$1.43	21d	1	0.56mi
638 Jackson Ave Evansville, IN	4.0	1.0	1176	$1,495	$1.27	21d	1	0.60mi
605 Madison Ave Evansville, IN	2.0	1.0	1069	$1,375	$1.29	21d	1	0.65mi
304 S Grand Ave Evansville, IN	2.0	1.0	967	$955	$0.99	21d	1	0.88mi
827 Judson St Evansville, IN	3.0	1.0	1008	$1,295	$1.28	13d	1	0.93mi
17 Washington Ave Evansville, IN	2.0	1.0	882	$1,455	$1.65	21d	1	1.11mi
1303 E Indiana St Evansville, IN	2.0	1.0	975	$1,195	$1.23	13d	1	1.13mi
1321 E Indiana St Evansville, IN	2.0	1.0	964	$1,050	$1.09	13d	1	1.14mi
1952 Colts Ln Evansville, IN	1.0–3.0	1.0	1146	$1,275	$1.11	21d	8	1.21mi
1762 Spring Ct Evansville, IN	2.0	1.0	975	$1,450	$1.49	21d	1	1.21mi
210 S Weinbach Ave Evansville, IN	3.0	1.0	1080	$1,450	$1.34	21d	1	1.24mi
2340 Sunburst Blvd Unit 2200-202 Evansville, IN	3.0	1.0	973	$1,050	$1.08	21d	1	1.35mi
322 SE 1st St Evansville, IN	1.0–2.0	1.0	1100	$1,700	$1.55	21d	6	1.48mi

Listing history 10 events

1. 2026-06-07
   statusdays on market $95,000 Pending 137 DOM
2. 2026-06-02
   days on market $95,000 Active 134 DOM
3. 2026-06-01
   days on market $95,000 Active 133 DOM
4. 2026-05-31
   days on market $95,000 Active 132 DOM
5. 2026-05-30
   days on market $95,000 Active 131 DOM
6. 2026-02-15
   price $95,000
7. 2026-01-20
   listed $95,714 Active
8. 2025-06-05
   listed $95,714 Active
9. 2022-04-10
   price $900
10. 2016-05-09
    listed $87,900

ⓘ 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: $488 · $41/mo
• Projected year-2 tax: $648 · $54/mo
• Expected delta: +$160/yr (+$13/mo · 32.8%)

ⓘ 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 · 0% 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: $15,117
• − Mortgage interest: −$5,321
• − Property taxes: −$488
• − Insurance: −$475
• − Repairs & maintenance: −$1,209
• − Management: −$1,209
• − Depreciation: −$2,764
• Taxable income: $3,651
• Est. tax owed @ 24.0%: −$876
• After-tax cash flow: $4,126/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

+8.1% since first listed

5 events — show timeline

• 2026-02-15 Price Changed $95,000 IRMLS
• 2026-01-20 Listed $95,714 IRMLS
• 2025-06-05 Listed $95,714 IRMLS
• 2022-04-10 Price Changed $900 RENT.
• 2016-05-09 Listed $87,900 IRMLS

Property tax history

-4.1%/yr

Latest (2024): $488 · -14.0% YoY. Source: county tax records.