Grand (Grandin) Plan · Evansville, IN 47720

$102,995

4 bd · 2.0 ba · 1,813 sqft · Manufactured · 321 Days on market

$475/mo HOA · 29% of rent

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Why this score? — see what drove the C- 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 +19.0/30.0
• 1% rule +10.0/10.0
• ARV discount +7.5/15.0
• DSCR +6.0/10.0
• 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

Grandin Pointe is in a suburban neighborhood in a convenient location that is close to many companies and industry, making it a prime location for jobs and employment. Also close to shopping and schools. Community Amenities Basketball Court, Clubhouse, Community Center, On-Site Management, Pantry, Pet-Friendly, and Playground For current prices of homes in Grandin Pointe call our sales office today!

Key facts

• Close to schools
• Convenient location
• Close to shopping

Tags

• SUBURBAN NEIGHBORHOOD
• CONVENIENT LOCATION
• CLOSE TO SHOPPING
• CLOSE TO SCHOOLS

Property features AI

Finance

• Financial info: List price $102,995
• HOA & community: HOA fee of $475

Exterior

• Home design: Single-family plan (Grand/Grandin); Located in Evansville, IN
• Exterior features: Living area approximately 1,813

Interior

• Bedrooms: 4 bedrooms
• Bathrooms: 2 full bathrooms
• Interior features: Plan home (Grand/Grandin)

🏗️ New construction. Builder plan / spec listing (the home may be to-be-built); metrics use comparable previous sales.

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath manufactured listed at $103k.

Deal economics

• At list price, monthly cash flow is $108 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $103k).
• Recommended offer: $91k (12.0% below list) — sets the bar for market timing.
• Cap rate 7.6% 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: schools D+, crime F, commute F.
• 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.
• Market conditions: 104 active listings in the ZIP; 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 $712 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 321 days — a 12% lower offer ($91k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: HOA is 29% of rent.
• Climate carrying-cost: major flood risk; extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $90,635 (12.0% below list)

Questions for the listing agent

1. It's been on market 321 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
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: 1.59% ✓
• Cap rate: 7.55%
• Cash-on-cash: 4.49%
• DSCR: 1.20
• GRM: 5.2

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -9.0%
• Equity multiple: 0.67×
• Total profit: $-9,501
• Equity at exit: $15,357

10-year hold

• IRR: 0.9%
• Equity multiple: 1.06×
• Total profit: $1,862
• Equity at exit: $8,905

Cash invested: $28,839 (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 47720

• Home prices YoY: -33.7%
• Active inventory: 104
• Price-to-rent: 5.2×

Monthly cashflow live

• Estimated rent: $1,639 medium
• Mortgage (P&I): −$540
• Tax est. 1.5%: −$129 /mo · $1,545/yr
• Insurance: −$43
• HOA: −$475
• Vacancy / Maint / Mgmt: −$344
• Net cashflow: $108

Break-even live

Break-even rent $1,502

Max offer price $102,995

Occupancy floor 88%

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: $25,749
• Closing costs: $3,090
• Reserves months: —
• Total cash needed: —

HOA detail

• Monthly dues: $475 · $5,700/yr

Listing history 14 events

1. 2026-06-18
   days on market $102,995 Active 321 DOM
2. 2026-06-17
   days on market $102,995 Active 320 DOM
3. 2026-06-16
   days on market $102,995 Active 319 DOM
4. 2026-06-15
   days on market $102,995 Active 318 DOM
5. 2026-06-14
   days on market $102,995 Active 316 DOM
6. 2026-06-13
   days on market $102,995 Active 315 DOM
7. 2026-06-10
   days on market $102,995 Active 313 DOM
8. 2026-06-09
   days on market $102,995 Active 312 DOM
9. 2026-06-08
   days on market $102,995 Active 311 DOM
10. 2026-06-07
    days on market $102,995 Active 310 DOM
11. 2026-06-02
    days on market $102,995 Active 305 DOM
12. 2026-06-01
    days on market $102,995 Active 304 DOM
13. 2026-05-31
    days on market $102,995 Active 303 DOM
14. 2026-05-30
    days on market $102,995 Active 302 DOM

ⓘ 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 6/10 Major FEMA zone X (unshaded) · 70% 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 4/10 Moderate 3 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $19,666
• − Mortgage interest: −$5,769
• − Property taxes: −$1,545
• − Insurance: −$515
• − Repairs & maintenance: −$1,573
• − Management: −$1,573
• − HOA: −$5,700
• − Depreciation: −$2,996
• Taxable loss: −$6
• Est. tax savings @ 24.0%: +$1
• After-tax cash flow: $1,296/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

• City population: 146,793
• Population (ZIP): 17,103

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 (94%)
• Race & ethnicity: White 94% Two or more races 4% Hispanic / Latino 1%
• Common ancestry: Slovak 4% Lithuanian 3% Italian 2%
• Foreign-born: 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: ▼ -98.44%
• Current HPI: 193.409
• Rent YoY: —
• Metro: —
• 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