12901 Kenai Dr · Evansville, IN 47725

$255,000

3 bd · 2.0 ba · 1,313 sqft · SingleFamily public records · 185 Days on market

Built 2002 7,841 sqft lot Est $251k · at est.

---

Why this score? — see what drove the D- 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 +13.2/30.0
• ARV discount +6.7/15.0
• DSCR +4.0/10.0
• Schools +3.3/10.0
• Livability +3.2/5.0
• 1% rule +3.0/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Do not miss this charming ranch located in Stonecrest subdivision on the Northside of Evansville. This well maintained three bedroom, two-bath home, with an attached two-car garage is sure to please. The great room welcomes you with a vaulted ceiling. The eat-in kitchen is fully equipped with stainless appliances, updated tile flooring, antiqued white cabinets, large pantry that houses the laundry, tiled backsplash, and sliding door access to the backyard. The large master suite boasts a step in shower and walk-in closet. Two additional bedrooms share a full bath. Just off the dining area, step out into the backyard oasis featuring a 20 X 10 covered patio. Enjoy tranquility next to the Koi pond with fountain, or warm up on a chilly night next to a fire in the cobblestone fire pit. Additional features include new hardware on all interior doors, remote controlled ceiling fans, smart garage door with keypad, and a smart thermostat. Move-in ready and waiting for you to make your very own,

Key facts

• Koi pond
• Covered patio
• 7,841 sq ft lot

Tags

• KOI POND
• COVERED PATIO
• PEACEFUL BACKYARD OASIS

Property features AI

Exterior

• Parking: Attached garage; 2 garage spaces; Garage with opener; Concrete driveway; Off-street parking
• Utilities: Public water; Public sewer
• Home design: Single-family residence (site-built); One story; Facing information not provided
• Construction: Brick and vinyl siding exterior; Shingle roof; Slab foundation; Built-in living area above grade
• Exterior features: Patio; Level lot; Shed(s)

Interior

• Kitchen: Dishwasher; Microwave; Refrigerator; Electric range
• Bedrooms: Master bedroom on the main level
• Flooring: Carpet; Vinyl
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central air; Ceiling fans; Electric forced-air heating
• Interior features: Ceiling fans; Master bedroom on the main level
• Laundry & utility: Main level laundry

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $255k.

Deal economics

• At list price, monthly cash flow is $-5 ($-62/yr) — negative.
• To cash-flow at today's rent, offer at most $254k (0.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $205k (19.6% below list).
• Recommended offer: $205k (19.6% below list) — sets the bar for 1% rule.
• Cap rate 6.3% 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: Mccutchanville Elementary School (math 74% / reading 73%, grade A, #23 of 994 statewide, top 3%, 938 students, 20% FRL); North Junior High School (math 44% / reading 57%, grade C, #43 of 330 statewide, top 14%, 929 students, 42% FRL); North High School (math 57% / reading 74%, grade B, #29 of 369 statewide, top 8%, 1,674 students, 35% FRL) — zoned schools average 32% FRL vs 50% district-wide (18 pts lower); this property's tenant base skews higher-income than the district average.
• Zoned-school proficiency averages 63% at this address vs 40% district-wide (+24 pts) — the actual schools serving this property are materially stronger than the Evansville Vanderburgh School Corporation average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: 423 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 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 $2k of loan paydown is wiped out by about $8k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 185 days — a 12% lower offer ($224k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 12y 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

• Climate carrying-cost: extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $205,000 (19.6% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 185 days. Have you received any prior offers? Is the seller open to a 20% concession, seller financing, or rate buy-down credit?
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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
8. 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.
9. 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.
10. 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: 0.80% ✗
• Cap rate: 6.27%
• Cash-on-cash: -0.09%
• DSCR: 1.00
• GRM: 10.4

CMA / ARV

• ARV (on-the-fly): $250,783
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
12834 Cold Water Dr	0.04mi	3/2.0	1,319 (+0%)	7mo	$222,000	$168	92
3143 Cascade Dr	0.19mi	3/2.0	1,278 (-3%)	5mo	$235,000	$184	82
3323 Crater Dr	0.36mi	3/2.0	1,325 (+1%)	1mo	$255,000	$192	81
12421 Cold Water Dr	0.29mi	3/2.0	1,343 (+2%)	6mo	$242,500	$181	78
12512 Cold Water Dr	0.24mi	3/2.0	1,178 (-10%)	5mo	$225,000	$191	67
13125 Lockney Ct	0.51mi	3/2.0	1,376 (+5%)	2mo	$264,000	$192	67
13331 Wildflower Dr	0.58mi	3/2.0	1,326 (+1%)	6mo	$233,240	$176	66
13010 Mattison Ct	0.72mi	3/2.0	1,327 (+1%)	2mo	$264,900	$200	63
4323 Ty Ct	0.54mi	3/2.0	1,414 (+8%)	0mo	$273,000	$193	62
4227 Ty Ct	0.63mi	3/2.0	1,388 (+6%)	5mo	$265,000	$191	57
12928 Mattison Ct	0.72mi	3/2.0	1,380 (+5%)	2mo	$248,500	$180	57
3910 Canyon Rock Ct	0.54mi	3/2.0	1,493 (+14%)	3mo	$250,000	$167	50

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: -16.5%
• Equity multiple: 0.42×
• Total profit: $-41,704
• Equity at exit: $38,021

10-year hold

• IRR: -8.3%
• Equity multiple: 0.48×
• Total profit: $-36,958
• Equity at exit: $22,048

Cash invested: $71,400 (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 47725

• Home prices YoY: -28.3%
• Active inventory: 423
• Price-to-rent: 10.4×

Monthly cashflow live

• Estimated rent: $2,050 medium
• Mortgage (P&I): −$1,337
• Tax from tax record: −$181 /mo · $2,174/yr
• Insurance: −$106
• HOA: −$0
• Vacancy / Maint / Mgmt: −$430
• Net cashflow: $-5

Break-even live

Break-even rent $2,057

Max offer price $254,085

Occupancy floor 95%

Sensitivity live

Price	-10% $139	-5% $67	+0% $-5	+5% $-77	+10% $-150
Rent	-10% $-167	-5% $-86	+0% $-5	+5% $76	+10% $157
Rate	-1.0pp $123	-0.5pp $60	base $-5	+0.5pp $-71	+1.0pp $-138

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: $63,750
• Closing costs: $7,650
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
12922 Kenai Dr Evansville, IN	3.0	2.0	1439	$2,050	$1.42	23d	1	0.03mi

Listing history 37 events

1. 2026-06-22
   days on market $255,000 Active 185 DOM
2. 2026-06-18
   days on market $255,000 Active 182 DOM
3. 2026-06-17
   days on market $255,000 Active 181 DOM
4. 2026-06-16
   days on market $255,000 Active 180 DOM
5. 2026-06-15
   days on market $255,000 Active 179 DOM
6. 2026-06-14
   days on market $255,000 Active 177 DOM
7. 2026-06-13
   days on market $255,000 Active 176 DOM
8. 2026-06-10
   days on market $255,000 Active 174 DOM
9. 2026-06-09
   days on market $255,000 Active 173 DOM
10. 2026-06-08
    days on market $255,000 Active 172 DOM
11. 2026-06-07
    days on market $255,000 Active 171 DOM
12. 2026-06-02
    days on market $255,000 Active 166 DOM
13. 2026-06-01
    days on market $255,000 Active 165 DOM
14. 2026-05-31
    days on market $255,000 Active 164 DOM
15. 2026-05-30
    days on market $255,000 Active 163 DOM
16. 2026-02-26
    price $255,000
17. 2026-01-28
    price $260,000
18. 2025-12-18
    listed $265,000 Active
19. 2025-09-23
    price $265,000
20. 2025-07-28
    price $270,000
21. 2025-07-14
    price $275,000
22. 2025-07-03
    price $280,000
23. 2025-06-27
    price $280,500
24. 2025-06-19
    price $281,000
25. 2025-06-13
    price $281,500
26. 2025-06-05
    price $282,000
27. 2025-05-29
    price $282,500
28. 2025-05-21
    price $283,000
29. 2025-05-15
    price $283,500
30. 2025-05-09
    price $284,000
31. 2025-04-29
    price $284,500
32. 2025-04-02
    listed $285,000 Active
33. 2023-04-26
    soldstatus $245,000 Closed 999-char remark

    Show marketing remark (999 chars)

    Do not miss this charming ranch located in Stonecrest subdivision on the Northside of Evansville. This well maintained three bedroom, two-bath home, with an attached two-car garage is sure to please. The great room welcomes you with a vaulted ceiling. The eat-in kitchen is fully equipped with stainless appliances, updated tile flooring, antiqued white cabinets, large pantry that houses the laundry, tiled backsplash, and sliding door access to the backyard. The large master suite boasts a step in shower and walk-in closet. Two additional bedrooms share a full bath. Just off the dining area, step out into the backyard oasis featuring a 20 X 10 covered patio. Enjoy tranquility next to the Koi pond with fountain, or warm up on a chilly night next to a fire in the cobblestone fire pit. Additional features include new hardware on all interior doors, remote controlled ceiling fans, smart garage door with keypad, and a smart thermostat. Move-in ready and waiting for you to make your very own,

34. 2023-03-23
    status Pending 999-char remark

    Show marketing remark (999 chars)

    Do not miss this charming ranch located in Stonecrest subdivision on the Northside of Evansville. This well maintained three bedroom, two-bath home, with an attached two-car garage is sure to please. The great room welcomes you with a vaulted ceiling. The eat-in kitchen is fully equipped with stainless appliances, updated tile flooring, antiqued white cabinets, large pantry that houses the laundry, tiled backsplash, and sliding door access to the backyard. The large master suite boasts a step in shower and walk-in closet. Two additional bedrooms share a full bath. Just off the dining area, step out into the backyard oasis featuring a 20 X 10 covered patio. Enjoy tranquility next to the Koi pond with fountain, or warm up on a chilly night next to a fire in the cobblestone fire pit. Additional features include new hardware on all interior doors, remote controlled ceiling fans, smart garage door with keypad, and a smart thermostat. Move-in ready and waiting for you to make your very own,

35. 2023-03-21
    listed $234,900 Active 999-char remark

    Show marketing remark (999 chars)

    Do not miss this charming ranch located in Stonecrest subdivision on the Northside of Evansville. This well maintained three bedroom, two-bath home, with an attached two-car garage is sure to please. The great room welcomes you with a vaulted ceiling. The eat-in kitchen is fully equipped with stainless appliances, updated tile flooring, antiqued white cabinets, large pantry that houses the laundry, tiled backsplash, and sliding door access to the backyard. The large master suite boasts a step in shower and walk-in closet. Two additional bedrooms share a full bath. Just off the dining area, step out into the backyard oasis featuring a 20 X 10 covered patio. Enjoy tranquility next to the Koi pond with fountain, or warm up on a chilly night next to a fire in the cobblestone fire pit. Additional features include new hardware on all interior doors, remote controlled ceiling fans, smart garage door with keypad, and a smart thermostat. Move-in ready and waiting for you to make your very own,

36. 2015-01-23
    soldstatus $125,000
37. 2014-12-16
    listed $125,000

ⓘ 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: $2,174 · $181/mo
• Projected year-2 tax: $2,174 · $181/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 ≥107°F today · 20 d/yr by 30 yrs out
• 💨 Wind 3/10 Moderate 4% 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: $24,600
• − Mortgage interest: −$14,284
• − Property taxes: −$2,174
• − Insurance: −$1,275
• − Repairs & maintenance: −$1,968
• − Management: −$1,968
• − Depreciation: −$7,418
• Taxable loss: −$4,487
• Est. tax savings @ 24.0%: +$1,077
• After-tax cash flow: $1,015/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): 19,436

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 (92%)
• Race & ethnicity: White 92% Hispanic / Latino 3% Two or more races 3% Asian 2%
• Common ancestry: Romanian 2% Lithuanian 2% Slovak 1%
• Foreign-born: 2% · China
• Languages at home: 97% English-only · Other Asian/Pacific 1% Spanish 1% Tagalog/Filipino 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: ▼ -70.73%
• Current HPI: 179.2534
• 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

Price history

+104.0% since first listed

22 events — show timeline

• 2026-02-26 Price Changed $255,000 IRMLS
• 2026-01-28 Price Changed $260,000 IRMLS
• 2025-12-18 Listed $265,000 IRMLS
• 2025-09-23 Price Changed $265,000 IRMLS
• 2025-07-28 Price Changed $270,000 IRMLS
• 2025-07-14 Price Changed $275,000 IRMLS
• 2025-07-03 Price Changed $280,000 IRMLS
• 2025-06-27 Price Changed $280,500 IRMLS
• 2025-06-19 Price Changed $281,000 IRMLS
• 2025-06-13 Price Changed $281,500 IRMLS
• 2025-06-05 Price Changed $282,000 IRMLS
• 2025-05-29 Price Changed $282,500 IRMLS
• 2025-05-21 Price Changed $283,000 IRMLS
• 2025-05-15 Price Changed $283,500 IRMLS
• 2025-05-09 Price Changed $284,000 IRMLS
• 2025-04-29 Price Changed $284,500 IRMLS
• 2025-04-02 Listed $285,000 IRMLS
• 2023-04-26 Sold (MLS) $245,000 IRMLS
• 2023-03-23 Pending — IRMLS
• 2023-03-21 Listed $234,900 IRMLS
• 2015-01-23 Sold (MLS) $125,000 IRMLS
• 2014-12-16 Listed $125,000 IRMLS

Property tax history

+21.9%/yr

Latest (2024): $2,174 · -2.9% YoY. Source: county tax records.