1021 Henning Ave · Evansville, IN 47714

$60,000

2 bd · 1.0 ba · 905 sqft · SingleFamily public records · 37 Days on market

Built 1915

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• 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

Investor Special! Solid 2 bed/1 bath fixer-upper on corner lot with garage. Priced AS-IS for a quick sale. Bank appraisal confirms good bones. Electric, plumbing, walls, ceilings all appear to be decent. Needs full kitchen & amp; bathroom remodel, new floors, and some roof/awning repair. 2 bedrooms, 1 bathroom, 905 sq ft Built 1915 on a 4,160 sq ft corner lot Detached old garage + fully fenced backyard Alley access + church behind + empty lot next door (church-owned, well maintained) The bank appraiser said the core of the house is in great shape for its age Original hardwood floors throughout (damaged but repairable or ready for new flooring over top) Walls, electrical, plumbing all fu

Key facts

• Basement cellar
• Corner lot
• Detached garage

Tags

• CORNER LOT
• FULLY FENCED BACKYARD
• DETACHED GARAGE
• BASEMENT CELLAR
• ORIGINAL HARDWOOD FLOORS
• STRONG RENTAL AREA

Property features AI

Exterior

• Home design: Built in 1915
• Construction: Historic 1915 construction
• Exterior features: Located in the Presidents subdivision

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $60k.

Deal economics

• At list price, monthly cash flow is $345 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $60k).
• Recommended offer: $58k (3.0% below list) — sets the bar for market timing.
• Cap rate 13.2% 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: Rents rising fast (+7.9%/yr); 188 active listings in the ZIP; 30 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 $415 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 7.9% rent growth), your $17k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 37 days — a 3% lower offer ($58k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1915 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate 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 $58,200 (3.0% below list)

Questions for the listing agent

1. It's been on market 37 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 1915 — 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: 1.69% ✓
• Cap rate: 13.20%
• Cash-on-cash: 24.65%
• DSCR: 2.10
• GRM: 4.9

CMA / ARV

• ARV (on-the-fly): $139,370
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1203 Lodge Ave	0.18mi	3/1.0 (+1)	864 (-4%)	4mo	$60,000	$69	76
1801 E Powell Ave	0.52mi	2/1.0	880 (-3%)	1mo	$168,500	$191	70
1401 Lodge Ave	0.29mi	3/1.0 (+1)	990 (+9%)	0mo	$145,000	$146	66
1152 E Chandler Ave	0.29mi	3/1.0 (+1)	825 (-9%)	4mo	$127,000	$154	64
1913 Monroe Ave	0.62mi	2/1.0	936 (+3%)	4mo	$155,900	$167	62
1410 Sweetser Ave	0.73mi	2/1.0	928 (+2%)	1mo	$165,000	$178	61
1159 Sweetser Ave	0.75mi	2/1.0	888 (-2%)	2mo	$82,500	$93	60
1451 Bellemeade Ave	0.44mi	2/1.0	1,016 (+12%)	2mo	$215,000	$212	58
1505 Jackson Ave	0.36mi	2/1.0	780 (-14%)	4mo	$38,750	$50	57
1615 Ravenswood Dr	0.52mi	2/1.0	805 (-11%)	1mo	$99,900	$124	56
2020 E Blackford Ave	0.70mi	2/1.0	840 (-7%)	3mo	$138,500	$165	52
1407 Waggoner Ave	0.55mi	2/1.0	775 (-14%)	1mo	$94,500	$122	49

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: 23.7%
• Equity multiple: 2.04×
• Total profit: $17,510
• Equity at exit: $8,946

10-year hold

• IRR: 34.7%
• Equity multiple: 5.01×
• Total profit: $67,363
• Equity at exit: $5,188

Cash invested: $16,800 (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: 4.9×

Monthly cashflow live

• Estimated rent: $1,016 high
• Mortgage (P&I): −$315
• Tax from tax record: −$118 /mo · $1,411/yr
• Insurance: −$25
• HOA: −$0
• Vacancy / Maint / Mgmt: −$213
• Net cashflow: $345

Break-even live

Break-even rent $579

Max offer price $60,000

Occupancy floor 61%

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: $15,000
• Closing costs: $1,800
• Reserves months: —
• Total cash needed: —

Rent comps 30 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1021 Jefferson Ave Evansville, IN	1.0	1.0	798	$795	$1.00	13d	1	0.32mi
1133 Bayard Park Dr Unit B Evansville, IN	2.0	1.0	990	$800	$0.81	21d	1	0.33mi
1500 S Harlan Ave Evansville, IN	2.0	1.0	712	$900	$1.26	13d	1	0.33mi
1505 Jackson Ave Evansville, IN	2.0	1.0	780	$995	$1.28	21d	1	0.36mi
1909 Taylor Ave Evansville, IN	2.0	1.0	700	$1,200	$1.71	13d	1	0.64mi
734 Bayard Park Dr Evansville, IN	3.0	2.0	1000	$1,425	$1.43	21d	1	0.75mi
605 Madison Ave Evansville, IN	2.0	1.0	1069	$1,375	$1.29	21d	1	0.86mi
715 E Riverside Dr Evansville, IN	2.0	1.0	806	$895	$1.11	21d	1	0.92mi
507 S Evans Ave Evansville, IN	2.0	1.0	750	$795	$1.06	21d	1	0.92mi
304 S Grand Ave Evansville, IN	2.0	1.0	967	$955	$0.99	21d	1	0.95mi
1909 Plantation Ct Evansville, IN	2.0	1.0	780	$700	$0.90	21d	2	1.03mi
1762 Spring Ct Evansville, IN	2.0	1.0	975	$1,450	$1.49	21d	1	1.04mi
1952 Colts Ln Evansville, IN	1.0–3.0	1.0	1146	$1,035	$0.90	21d	8	1.07mi
1440 E Division St Evansville, IN	2.0	1.0	689	$1,250	$1.81	13d	1	1.08mi
1321 E Indiana St Evansville, IN	2.0	1.0	964	$1,050	$1.09	13d	1	1.10mi
1303 E Indiana St Evansville, IN	2.0	1.0	975	$1,195	$1.23	13d	1	1.10mi
210 S Weinbach Ave Evansville, IN	3.0	1.0	1080	$1,450	$1.34	21d	1	1.10mi
1415 E Indiana St Evansville, IN	2.0	1.0	814	$795	$0.98	13d	1	1.11mi
827 Judson St Evansville, IN	3.0	1.0	1008	$1,295	$1.28	13d	1	1.15mi
1231 Culver Dr Unit C Evansville, IN	1.0	1.0	575	$625	$1.09	21d	1	1.20mi
924 SE 6th St Unit A Evansville, IN	1.0	1.0	800	$875	$1.09	21d	1	1.24mi
1421 SE 2nd St Unit A Evansville, IN	1.0	1.0	800	$695	$0.87	13d	1	1.24mi
2340 Sunburst Blvd Unit 2210-104 Evansville, IN	1.0	1.0	631	$785	$1.24	21d	1	1.29mi
2340 Sunburst Blvd Unit 2270-318 Evansville, IN	2.0	1.0	815	$900	$1.10	21d	1	1.29mi
2340 Sunburst Blvd Unit 2200-202 Evansville, IN	3.0	1.0	973	$1,050	$1.08	21d	1	1.29mi
900 S Saint James Blvd Evansville, IN	3.0	2.0	1118	$1,450	$1.30	21d	1	1.32mi
17 Washington Ave Evansville, IN	2.0	1.0	882	$1,455	$1.65	21d	1	1.33mi
8 E Blackford Ave Evansville, IN	1.0	1.0	750	$825	$1.10	21d	1	1.35mi
1680 E Franklin St #1682 Evansville, IN	2.0	1.0	675	$855	$1.27	21d	7	1.35mi
615 SE 3rd St Unit D Evansville, IN	1.0	1.0	1122	$895	$0.80	21d	1	1.49mi

Listing history 15 events

1. 2026-06-18
   days on market $60,000 Active 37 DOM
2. 2026-06-17
   days on market $60,000 Active 36 DOM
3. 2026-06-16
   days on market $60,000 Active 35 DOM
4. 2026-06-15
   days on market $60,000 Active 34 DOM
5. 2026-06-14
   days on market $60,000 Active 32 DOM
6. 2026-06-13
   days on market $60,000 Active 31 DOM
7. 2026-06-10
   days on market $60,000 Active 29 DOM
8. 2026-06-09
   days on market $60,000 Active 28 DOM
9. 2026-06-08
   days on market $60,000 Active 27 DOM
10. 2026-06-07
    days on market $60,000 Active 26 DOM
11. 2026-06-02
    days on market $60,000 Active 21 DOM
12. 2026-06-01
    days on market $60,000 Active 20 DOM
13. 2026-05-31
    days on market $60,000 Active 19 DOM
14. 2026-05-30
    days on market $60,000 Active 18 DOM
15. 2026-05-12
    listed $60,000 Active

ⓘ 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: $1,411 · $118/mo
• Projected year-2 tax: $1,411 · $118/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 5/10 Major FEMA zone X · 66% 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: $12,188
• − Mortgage interest: −$3,361
• − Property taxes: −$1,411
• − Insurance: −$300
• − Repairs & maintenance: −$975
• − Management: −$975
• − Depreciation: −$1,745
• Taxable income: $3,420
• Est. tax owed @ 24.0%: −$821
• After-tax cash flow: $3,321/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

1 event — show timeline

• 2026-05-12 Listed $60,000 FSBO.com

Property tax history

+2.6%/yr

Latest (2024): $1,411 · -0.8% YoY. Source: county tax records.