807 Prosperity Ave · Evansville, IN 47713

$75,000

2 bd · 1.5 ba · 1,232 sqft · SingleFamily public records · 40 Days on market

Built 1943 0.44 ac lot Est $131k · 43% under ↓ 12% 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
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +8.7/10.0
• 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 MLS

Investment Opportunity! Don’t miss your chance to own this unique 1.5-story home featuring 2 bedrooms and 1.5 bathrooms, on nearly half an acre of fully fenced land. There are so many features with great potential including the spacious 33x28 attached concrete garage, complete with two separate rooms perfect for a workshop, extra storage, or any creative project. Some updates include: Roof approximately 3-4 years old; HVAC 2018. Situated on a quiet no-outlet street, this home offers the best of both worlds: privacy and convenience. You’ll be just minutes away from shopping, dining, and other amenities, yet still tucked away in a serene setting. While the home is in need of some TLC, it offers incredible opportunities for customization, expansion, and value growth. The second floor is beautifully finished with pine wood throughout and cedar closets, giving it a rustic charm with endless possibilities. This property is being sold AS-IS, and it is important to note that there are currently NO UTILITIES ON at the property. The seller is unable to turn the power back on but is granting permission for potential buyers to have the utilities activated/deactivated at their own expense. Seller respectfully requests that all offers be given at least 48 hr. response time.

Key facts

• Workshop space
• Fully fenced land
• Attached garage

Tags

• QUIET NO OUTLET STREET
• FULLY FENCED LAND
• ATTACHED GARAGE
• WORKSHOP SPACE
• STUDIO
• EXTRA STORAGE

Property features AI

Exterior

• Parking: Attached garage with 4 spaces; Off-street parking
• Utilities: Public water; Public sewer
• Home design: Single-family residence (site-built); Single-story
• Construction: Asphalt, concrete, and wood siding construction; Slab foundation; Built as a site-built home
• Exterior features: Level, wooded lot; Chain-link fencing; Flat roof

Interior

• Flooring: Hardwood; Concrete
• Bathrooms: 1 full bathroom; 1 half bathroom; 2 main-level bathrooms
• Heating & cooling: Natural gas forced-air heating; Central air; Window air conditioning units
• Interior features: Hardwood and concrete floors; One fireplace; Six total rooms
• Laundry & utility: Laundry on the main level

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath single-family listed at $75k.

Deal economics

• At list price, monthly cash flow is $295 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $75k).
• Recommended offer: $73k (3.0% below list) — sets the bar for market timing.
• Cap rate 11.0% 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: 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 (+9.9%/yr); 118 active listings in the ZIP; 19 comparable units currently listed for rent nearby; rentals at typical pace (median 21d 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).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $519 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 $21k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 40 days — a 3% lower offer ($73k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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.
• Current owner paid $60k; 25% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1943 — 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 $72,750 (3.0% below list)

Questions for the listing agent

1. It's been on market 40 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1943 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
6. 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.
7. 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.
8. 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: 1.37% ✓
• Cap rate: 11.01%
• Cash-on-cash: 16.83%
• DSCR: 1.75
• GRM: 6.1

CMA / ARV

• ARV (on-the-fly): $130,592
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
807 Prosperity Ave	0.00mi	2/1.5	1,232 (0%)	0mo	$70,000	$57	100
1903 S Kerth Ave	0.49mi	3/2.0 (+1)	1,214 (-2%)	5mo	$150,000	$124	64
1807 S Fares Ave	0.57mi	2/1.0	1,229 (-0%)	10mo	$18,000	$15	63
1059 Waggoner Ave	0.68mi	2/2.0	1,150 (-7%)	1mo	$125,000	$109	54
1828 S Governor St	0.52mi	3/2.0 (+1)	1,261 (+2%)	13mo	$121,000	$96	54
1554 S Linwood Ave	0.73mi	2/1.0	1,167 (-5%)	8mo	$37,250	$32	48
1800 Culver Dr	0.71mi	3/2.0 (+1)	1,257 (+2%)	10mo	$132,900	$106	48
1906 S Evans Ave	0.34mi	3/1.0 (+1)	1,092 (-11%)	13mo	$130,000	$119	48
1615 S Fares Ave	0.74mi	2/1.5	1,142 (-7%)	9mo	$140,000	$123	46
2209 Maplewood Cir	0.66mi	2/1.0	1,125 (-9%)	10mo	$101,000	$90	45
2117 Herbert Ave	0.61mi	3/1.0 (+1)	1,135 (-8%)	10mo	$144,200	$127	44
2006 Herbert Ave	0.66mi	3/1.0 (+1)	1,113 (-10%)	7mo	$85,000	$76	40

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: 13.6%
• Equity multiple: 1.57×
• Total profit: $12,058
• Equity at exit: $11,183

10-year hold

• IRR: 26.0%
• Equity multiple: 3.83×
• Total profit: $59,466
• Equity at exit: $6,485

Cash invested: $21,000 (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: 6.1×

Monthly cashflow live

• Estimated rent: $1,029 high
• Mortgage (P&I): −$393
• Tax est. 1.5%: −$94 /mo · $1,125/yr
• Insurance: −$31
• HOA: −$0
• Vacancy / Maint / Mgmt: −$216
• Net cashflow: $295

Break-even live

Break-even rent $656

Max offer price $75,000

Occupancy floor 66%

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: $18,750
• Closing costs: $2,250
• Reserves months: —
• Total cash needed: —

Rent comps 19 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
715 E Riverside Dr Evansville, IN	2.0	1.0	806	$895	$1.11	21d	1	0.53mi
2340 Sunburst Blvd Unit 2270-318 Evansville, IN	2.0	1.0	815	$900	$1.10	21d	1	0.96mi
2340 Sunburst Blvd Unit 2200-202 Evansville, IN	3.0	1.0	973	$1,050	$1.08	21d	1	0.96mi
1421 SE 2nd St Unit A Evansville, IN	1.0	1.0	800	$695	$0.87	13d	1	0.96mi
1500 S Harlan Ave Evansville, IN	2.0	1.0	712	$900	$1.26	13d	1	0.99mi
605 Madison Ave Evansville, IN	2.0	1.0	1069	$1,375	$1.29	21d	1	1.01mi
1021 Jefferson Ave Evansville, IN	1.0	1.0	798	$795	$1.00	13d	1	1.09mi
1604 Marbo Ave Evansville, IN	2.0	1.0	900	$1,095	$1.22	21d	1	1.09mi
1505 Jackson Ave Evansville, IN	2.0	1.0	780	$995	$1.28	21d	1	1.22mi
1909 Plantation Ct Evansville, IN	2.0	1.0	780	$700	$0.90	21d	2	1.24mi
1952 Colts Ln Evansville, IN	1.0–3.0	1.0	1146	$1,035	$0.90	21d	8	1.26mi
17 Washington Ave Evansville, IN	2.0	1.0	882	$1,455	$1.65	21d	1	1.34mi
924 SE 6th St Unit A Evansville, IN	1.0	1.0	800	$875	$1.09	21d	1	1.36mi
827 Judson St Evansville, IN	3.0	1.0	1008	$1,295	$1.28	13d	1	1.39mi
8 E Blackford Ave Evansville, IN	1.0	1.0	750	$825	$1.10	21d	1	1.42mi
734 Bayard Park Dr Evansville, IN	3.0	2.0	1000	$1,425	$1.43	21d	1	1.43mi
1909 Taylor Ave Evansville, IN	2.0	1.0	700	$1,200	$1.71	13d	1	1.45mi
1762 Spring Ct Evansville, IN	2.0	1.0	975	$1,450	$1.49	21d	1	1.47mi
1133 Bayard Park Dr Unit B Evansville, IN	2.0	1.0	990	$800	$0.81	21d	1	1.48mi

Listing history 10 events

1. 2026-06-07
   status $75,000 Pending 40 DOM
2. 2026-06-02
   days on market $75,000 Active 40 DOM
3. 2026-06-01
   days on market $75,000 Active 39 DOM
4. 2026-05-31
   days on market $75,000 Active 38 DOM
5. 2026-05-30
   days on market $75,000 Active 37 DOM
6. 2026-04-23
   listed $75,000 Active
7. 2025-05-09
   soldstatus $60,000 Closed 1293-char remark

   Show marketing remark (1293 chars)

   Investment Opportunity! Don’t miss your chance to own this unique 1.5-story home featuring 2 bedrooms and 1.5 bathrooms, on nearly half an acre of fully fenced land. There are so many features with great potential including the spacious 33x28 attached concrete garage, complete with two separate rooms perfect for a workshop, extra storage, or any creative project. Some updates include: Roof approximately 3-4 years old; HVAC 2018. Situated on a quiet no-outlet street, this home offers the best of both worlds: privacy and convenience. You’ll be just minutes away from shopping, dining, and other amenities, yet still tucked away in a serene setting. While the home is in need of some TLC, it offers incredible opportunities for customization, expansion, and value growth. The second floor is beautifully finished with pine wood throughout and cedar closets, giving it a rustic charm with endless possibilities. This property is being sold AS-IS, and it is important to note that there are currently NO UTILITIES ON at the property. The seller is unable to turn the power back on but is granting permission for potential buyers to have the utilities activated/deactivated at their own expense. Seller respectfully requests that all offers be given at least 48 hr. response time.

8. 2025-05-06
   status Pending 1293-char remark

   Show marketing remark (1293 chars)

   Investment Opportunity! Don’t miss your chance to own this unique 1.5-story home featuring 2 bedrooms and 1.5 bathrooms, on nearly half an acre of fully fenced land. There are so many features with great potential including the spacious 33x28 attached concrete garage, complete with two separate rooms perfect for a workshop, extra storage, or any creative project. Some updates include: Roof approximately 3-4 years old; HVAC 2018. Situated on a quiet no-outlet street, this home offers the best of both worlds: privacy and convenience. You’ll be just minutes away from shopping, dining, and other amenities, yet still tucked away in a serene setting. While the home is in need of some TLC, it offers incredible opportunities for customization, expansion, and value growth. The second floor is beautifully finished with pine wood throughout and cedar closets, giving it a rustic charm with endless possibilities. This property is being sold AS-IS, and it is important to note that there are currently NO UTILITIES ON at the property. The seller is unable to turn the power back on but is granting permission for potential buyers to have the utilities activated/deactivated at their own expense. Seller respectfully requests that all offers be given at least 48 hr. response time.

9. 2025-03-22
   price $75,000 1293-char remark

   Show marketing remark (1293 chars)

   Investment Opportunity! Don’t miss your chance to own this unique 1.5-story home featuring 2 bedrooms and 1.5 bathrooms, on nearly half an acre of fully fenced land. There are so many features with great potential including the spacious 33x28 attached concrete garage, complete with two separate rooms perfect for a workshop, extra storage, or any creative project. Some updates include: Roof approximately 3-4 years old; HVAC 2018. Situated on a quiet no-outlet street, this home offers the best of both worlds: privacy and convenience. You’ll be just minutes away from shopping, dining, and other amenities, yet still tucked away in a serene setting. While the home is in need of some TLC, it offers incredible opportunities for customization, expansion, and value growth. The second floor is beautifully finished with pine wood throughout and cedar closets, giving it a rustic charm with endless possibilities. This property is being sold AS-IS, and it is important to note that there are currently NO UTILITIES ON at the property. The seller is unable to turn the power back on but is granting permission for potential buyers to have the utilities activated/deactivated at their own expense. Seller respectfully requests that all offers be given at least 48 hr. response time.

10. 2025-03-05
    listed $85,000 Active 1293-char remark

    Show marketing remark (1293 chars)

    Investment Opportunity! Don’t miss your chance to own this unique 1.5-story home featuring 2 bedrooms and 1.5 bathrooms, on nearly half an acre of fully fenced land. There are so many features with great potential including the spacious 33x28 attached concrete garage, complete with two separate rooms perfect for a workshop, extra storage, or any creative project. Some updates include: Roof approximately 3-4 years old; HVAC 2018. Situated on a quiet no-outlet street, this home offers the best of both worlds: privacy and convenience. You’ll be just minutes away from shopping, dining, and other amenities, yet still tucked away in a serene setting. While the home is in need of some TLC, it offers incredible opportunities for customization, expansion, and value growth. The second floor is beautifully finished with pine wood throughout and cedar closets, giving it a rustic charm with endless possibilities. This property is being sold AS-IS, and it is important to note that there are currently NO UTILITIES ON at the property. The seller is unable to turn the power back on but is granting permission for potential buyers to have the utilities activated/deactivated at their own expense. Seller respectfully requests that all offers be given at least 48 hr. response time.

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

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 2 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $12,347
• − Mortgage interest: −$4,201
• − Property taxes: −$1,125
• − Insurance: −$375
• − Repairs & maintenance: −$988
• − Management: −$988
• − Depreciation: −$2,182
• Taxable income: $2,488
• Est. tax owed @ 24.0%: −$597
• After-tax cash flow: $2,937/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

-11.8% since first listed

5 events — show timeline

• 2026-04-23 Listed $75,000 IRMLS
• 2025-05-09 Sold (MLS) $60,000 IRMLS
• 2025-05-06 Pending — IRMLS
• 2025-03-22 Price Changed $75,000 IRMLS
• 2025-03-05 Listed $85,000 IRMLS

Property tax history

-34.3%/yr

Latest (2022): $10 · -98.1% YoY. Source: county tax records.