414 E Virginia St · Evansville, IN 47711

$65,000

2 bd · 1.0 ba · 915 sqft · SingleFamily public records · 119 Days on market

Built 1894 2,178 sqft lot Est $103k · 37% 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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Rent growth +4.2/5.0
• Schools +3.3/10.0
• Livability +3.2/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Attention Investors: Package Deal includes 5 properties. Total for all 5 is $325.000. Current Tenant pays $600.00 month.

Key facts

• 2,178 sq ft lot
• Built 1894
• Listed 119 days

Property features AI

Exterior

• Utilities: Public water; Public sewer
• Home design: Single-family site-built home; One story
• Construction: Aluminum siding
• Exterior features: Level lot

Interior

• Bedrooms: Total of 4 rooms (includes bedrooms and living areas)
• Bathrooms: 1 full bathroom (on the main level)
• Heating & cooling: Central air conditioning; Natural gas forced-air heating
• Interior features: Crawl space and partial basement; Main-level laundry
• Laundry & utility: Laundry located on the main level

🏷️ Possibly a rental listed for sale. The $65,000 price doesn't fit this home's estimated sale value (~$103,395) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $65k.

Deal economics

• At list price, monthly cash flow is $391 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $65k).
• Recommended offer: $59k (9.0% below list) — sets the bar for market timing.
• Cap rate 13.5% 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: Lincoln School (math 12% / reading 17%, grade F, #862 of 994 statewide, top 88%, 236 students, 88% FRL); Central High School (math 38% / reading 74%, grade C, #73 of 369 statewide, top 20%, 1,090 students, 52% FRL) — zoned schools average 70% FRL vs 50% district-wide (20 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising fast (+6.7%/yr); 229 active listings in the ZIP; 39 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 $449 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 6.7% rent growth), your $18k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 119 days — a 9% lower offer ($59k) is reasonable based on typical stale-listing flexibility.
• 8 sale attempts since 10y ago; this cycle's ask is 10733% above the opening price — seller raised mid-cycle; expect resistance to lowballs.

Risks & watch-outs

• Watch-outs: built in 1894 — 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 $59,150 (9.0% below list)

Questions for the listing agent

1. It's been on market 119 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1894 — 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: 1.55% ✓
• Cap rate: 13.52%
• Cash-on-cash: 25.81%
• DSCR: 2.15
• GRM: 5.4

CMA / ARV

• ARV (on-the-fly): $103,395
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
311 E Oregon St	0.31mi	2/1.0	950 (+4%)	5mo	$17,000	$18	75
812 N Garvin St	0.23mi	2/1.0	978 (+7%)	6mo	$64,900	$66	73
1108 Garvin St	0.41mi	2/1.0	976 (+7%)	8mo	$110,000	$113	64
715 E Louisiana St	0.51mi	2/1.0	875 (-4%)	8mo	$115,000	$131	62
638 E Missouri St	0.42mi	3/1.0 (+1)	840 (-8%)	3mo	$25,500	$30	59
16 W Tennessee St	0.65mi	2/1.0	894 (-2%)	10mo	$119,000	$133	58
317 Enlow Ave	0.74mi	2/1.0	950 (+4%)	9mo	$155,500	$164	52
1311 N Garvin St	0.55mi	2/1.0	1,016 (+11%)	6mo	$126,000	$124	51
1006 Cherry St	0.73mi	2/1.0	976 (+7%)	4mo	$95,000	$97	51
313 E Tennessee St	0.56mi	2/1.0	824 (-10%)	10mo	$64,500	$78	49
416 S Garvin St	0.63mi	2/1.0	1,024 (+12%)	3mo	$38,750	$38	48
424 S Linwood Ave	0.70mi	3/2.0 (+1)	990 (+8%)	5mo	$155,000	$157	41

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 · 6.72% rent growth · sell at horizon

5-year hold

• IRR: 23.4%
• Equity multiple: 2.01×
• Total profit: $18,302
• Equity at exit: $9,692

10-year hold

• IRR: 33.5%
• Equity multiple: 4.59×
• Total profit: $65,332
• Equity at exit: $5,620

Cash invested: $18,200 (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 47711

• Home prices YoY: -32.3%
• Rents YoY: 6.7%
• Active inventory: 229
• Price-to-rent: 5.4×

Monthly cashflow live

• Estimated rent: $1,008 high
• Mortgage (P&I): −$341
• Tax from tax record: −$37 /mo · $442/yr
• Insurance: −$27
• HOA: −$0
• Vacancy / Maint / Mgmt: −$212
• Net cashflow: $391

Break-even live

Break-even rent $512

Max offer price $65,000

Occupancy floor 56%

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: $16,250
• Closing costs: $1,950
• Reserves months: —
• Total cash needed: —

Rent comps 39 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
610 N Main St Evansville, IN	2.0	1.0	751	$675	$0.90	21d	1	0.34mi
200 N Main St Evansville, IN	2.0	1.0–2.0	857	$1,599	$1.86	13d	7	0.39mi
41 W Division St Apt 200 Evansville, IN	2.0	2.0	1083	$1,500	$1.39	21d	1	0.51mi
41 W Division St Unit 101 Evansville, IN	1.0	1.0	634	$1,100	$1.74	21d	1	0.51mi
1018 Baker Ave Unit B Evansville, IN	1.0	1.0	800	$625	$0.78	21d	1	0.57mi
109 E Eichel Ave Unit A Evansville, IN	1.0	1.0	675	$745	$1.10	21d	1	0.65mi
32 W Tennessee St Evansville, IN	2.0	1.0	864	$925	$1.07	13d	1	0.69mi
304 S Grand Ave Evansville, IN	2.0	1.0	967	$955	$0.99	21d	1	0.72mi
706 Court St Evansville, IN	2.0	1.5	1100	$850	$0.77	21d	1	0.76mi
406 Edgar St Unit 1 Evansville, IN	1.0	1.0	530	$1,500	$2.83	21d	1	0.77mi
507 S Evans Ave Evansville, IN	2.0	1.0	750	$795	$1.06	21d	1	0.78mi
24 NW 6th St Apt 103 Evansville, IN	1.0	1.0	706	$1,300	$1.84	21d	1	0.88mi
400 NW 5th St Unit 4 Evansville, IN	2.0	1.0	792	$725	$0.92	21d	1	0.92mi
1303 E Indiana St Evansville, IN	2.0	1.0	975	$1,195	$1.23	13d	1	1.00mi
329 Main St Evansville, IN	1.0–2.0	1.0–2.0	717	$1,505	$2.10	13d	1	1.03mi
1321 E Indiana St Evansville, IN	2.0	1.0	964	$1,050	$1.09	13d	1	1.03mi
300 Main St Unit 1 D3 Evansville, IN	1.0	1.0	800	$2,000	$2.50	21d	1	1.07mi
734 Bayard Park Dr Evansville, IN	3.0	2.0	1000	$1,425	$1.43	21d	1	1.08mi
1415 E Indiana St Evansville, IN	2.0	1.0	814	$795	$0.98	13d	1	1.14mi
500 Richardt Ave Evansville, IN	1.0	1.0	550	$700	$1.27	21d	1	1.16mi
1440 E Division St Evansville, IN	2.0	1.0	689	$1,250	$1.81	13d	1	1.17mi
101 SE 2nd St Evansville, IN	1.0	1.0	530	$750	$1.42	13d	1	1.19mi
827 Judson St Evansville, IN	3.0	1.0	1008	$1,295	$1.28	13d	1	1.20mi
100 SE 1st St Evansville, IN	1.0–2.0	1.0–2.0	715	$1,725	$2.41	13d	17	1.23mi
202 SE 1st St Evansville, IN	1.0–2.0	1.0	926	$2,449	$2.64	21d	4	1.24mi
615 SE 3rd St Unit D Evansville, IN	1.0	1.0	1122	$895	$0.80	21d	1	1.26mi
322 SE 1st St Evansville, IN	1.0–2.0	1.0	1100	$1,700	$1.55	21d	6	1.28mi
924 SE 6th St Unit A Evansville, IN	1.0	1.0	800	$875	$1.09	21d	1	1.29mi
1680 E Franklin St #1682 Evansville, IN	2.0	1.0	675	$855	$1.27	21d	7	1.29mi
8 E Blackford Ave Evansville, IN	1.0	1.0	750	$825	$1.10	21d	1	1.31mi
1133 Bayard Park Dr Unit B Evansville, IN	2.0	1.0	990	$800	$0.81	21d	1	1.34mi
17 Washington Ave Evansville, IN	2.0	1.0	882	$1,455	$1.65	21d	1	1.39mi
2501 N Evans Ave Unit A Evansville, IN	2.0	1.0	856	$900	$1.05	21d	1	1.39mi
820 Negley Ave Unit B Evansville, IN	1.0	1.0	575	$695	$1.21	21d	1	1.40mi
1306 W Missouri St Evansville, IN	2.0	1.0	800	$950	$1.19	13d	1	1.43mi
2511 N Kentucky Ave Unit 23 Evansville, IN	1.0	1.0	584	$650	$1.11	21d	1	1.49mi
941 Stanley Ave Unit A Evansville, IN	1.0	1.0	850	$800	$0.94	21d	1	1.49mi
1219 Joan Ave Unit 1219 Evansville, IN	2.0	1.0	725	$845	$1.17	13d	1	1.50mi
605 Madison Ave Evansville, IN	2.0	1.0	1069	$1,375	$1.29	21d	1	1.50mi

Listing history 20 events

1. 2026-06-10
   status $65,000 Pending 119 DOM
2. 2026-06-09
   days on market $65,000 Active 119 DOM
3. 2026-06-08
   days on market $65,000 Active 118 DOM
4. 2026-06-07
   days on market $65,000 Active 117 DOM
5. 2026-06-02
   days on market $65,000 Active 112 DOM
6. 2026-06-01
   days on market $65,000 Active 111 DOM
7. 2026-05-31
   days on market $65,000 Active 110 DOM
8. 2026-05-30
   days on market $65,000 Active 109 DOM
9. 2026-03-20
   historical $600
10. 2026-02-25
    listed $600
11. 2026-02-10
    listed $65,000 Active
12. 2025-05-14
    listed $325,000 Active
13. 2024-03-18
    price $53,000
14. 2024-01-20
    historical $600
15. 2024-01-04
    listed $600
16. 2023-10-03
    listed $44,000 Active
17. 2022-12-06
    historical
18. 2020-09-23
    listed $39,900
19. 2018-12-19
    listed $27,900
20. 2016-05-09
    listed $27,900

ⓘ 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: $442 · $37/mo
• Projected year-2 tax: $497 · $41/mo
• Expected delta: +$55/yr (+$5/mo · 12.4%)

ⓘ 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 · 19 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 4% 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: $12,096
• − Mortgage interest: −$3,641
• − Property taxes: −$442
• − Insurance: −$325
• − Repairs & maintenance: −$968
• − Management: −$968
• − Depreciation: −$1,891
• Taxable income: $3,861
• Est. tax owed @ 24.0%: −$927
• After-tax cash flow: $3,771/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): 30,944
• Household income: $66,320
• Rent vs Own: 24.4% rent · 75.6% own
• Severe rent burden: 659.0

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 (85%)
• Race & ethnicity: White 85% Black 8% Two or more races 5% Hispanic / Latino 2%
• Common ancestry: Lithuanian 2% Romanian 2% Slovak 1%
• Foreign-born: 2% · Canada
• Languages at home: 97% English-only · Spanish 2%

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: ▼ -97.98%
• Current HPI: 205.62
• Rent YoY: ▲ 6.72%
• 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

+133.0% since first listed

12 events — show timeline

• 2026-03-20 Rental Removed $600 APPFOLIO
• 2026-02-25 Listed for Rent $600 APPFOLIO
• 2026-02-10 Listed $65,000 IRMLS
• 2025-05-14 Listed $325,000 IRMLS
• 2024-03-18 Price Changed $53,000 IRMLS
• 2024-01-20 Rental Removed $600 APPFOLIO
• 2024-01-04 Listed for Rent $600 APPFOLIO
• 2023-10-03 Listed $44,000 IRMLS
• 2022-12-06 Rental Removed — APPFOLIO
• 2020-09-23 Listed $39,900 IRMLS
• 2018-12-19 Listed $27,900 IRMLS
• 2016-05-09 Listed $27,900 IRMLS

Property tax history

-4.9%/yr

Latest (2024): $442 · +1.8% YoY. Source: county tax records.