5524 Jackson Ct · Evansville, IN 47715

$119,900

3 bd · 2.0 ba · 1,394 sqft · Condo public records · 225 Days on market

Built 1979 $210/mo HOA · 14% 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 +22.7/30.0
• ARV discount +7.5/15.0
• DSCR +7.3/10.0
• 1% rule +7.1/10.0
• 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

Updated second floor condo offering 3 bedroom and 2 bath on Evansville's east side. Great room with brick hearth and fireplace leads into the dining area. The kitchen has plenty of cabinet and counter space with a pantry and laundry area. 3 nice sized bedrooms and 2 full baths round out the condo. There is a back yard with garden shed for excess storage.

Key facts

• Pantry
• Laundry area
• Brick hearth

Tags

• BRICK HEARTH
• FIREPLACE
• PLENTY OF CABINET SPACE
• PLENTY OF COUNTER SPACE
• PANTRY
• LAUNDRY AREA

Property features AI

Finance

• HOA & community: Homeowners association with a $210 monthly association fee

Exterior

• Utilities: Public water; Public sewer
• Home design: Residential condominium (Condo/Villa)
• Construction: Brick construction; Shingle roof; 1,394 above-grade finished area
• Exterior features: Shed(s)

Interior

• Bedrooms: Total of 5 rooms (bedroom count not specified)
• Flooring: Carpet; Laminate; Tile
• Bathrooms: 2 full bathrooms; 2 main-level bathrooms
• Heating & cooling: Electric forced-air heating; Central air conditioning
• Interior features: Carpet, laminate, and tile flooring; Living room wood-burning fireplace
• Laundry & utility: Laundry on the main level

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath condo listed at $120k.

Deal economics

• At list price, monthly cash flow is $206 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $120k).
• Recommended offer: $106k (12.0% below list) — sets the bar for market timing.
• Cap rate 8.4% 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: Caze Elementary School (math 17% / reading 17%, grade F, #837 of 994 statewide, top 86%, 393 students, 79% FRL); Mcgary Middle School (math 8% / reading 15%, grade F, #311 of 330 statewide, top 94%, 351 students, 81% FRL); William Henry Harrison High School (math 29% / reading 54%, grade F, #211 of 369 statewide, top 58%, 1,158 students, 61% FRL) — zoned schools average 73% FRL vs 50% district-wide (23 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 23% at this address vs 40% district-wide (-16 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: 177 active listings in the ZIP; 14 comparable units currently listed for rent nearby; rentals at typical pace (median 15d 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 $829 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 225 days — a 12% lower offer ($106k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 11y ago; this cycle's ask has dropped $10k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Recommended offer $105,512 (12.0% below list)

Questions for the listing agent

1. It's been on market 225 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1979 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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?
9. 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.
10. 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.
11. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.21% ✓
• Cap rate: 8.35%
• Cash-on-cash: 7.35%
• DSCR: 1.33
• GRM: 6.9

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: -5.0%
• Equity multiple: 0.81×
• Total profit: $-6,244
• Equity at exit: $17,877

10-year hold

• IRR: 4.8%
• Equity multiple: 1.35×
• Total profit: $11,791
• Equity at exit: $10,367

Cash invested: $33,572 (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 47715

• Active inventory: 177
• Price-to-rent: 6.9×

Monthly cashflow live

• Estimated rent: $1,450 high
• Mortgage (P&I): −$629
• Tax from tax record: −$51 /mo · $613/yr
• Insurance: −$50
• HOA: −$210
• Vacancy / Maint / Mgmt: −$304
• Net cashflow: $206

Break-even live

Break-even rent $1,190

Max offer price $119,900

Occupancy floor 81%

Sensitivity live

Price	-10% $273	-5% $240	+0% $206	+5% $172	+10% $138
Rent	-10% $91	-5% $148	+0% $206	+5% $263	+10% $320
Rate	-1.0pp $266	-0.5pp $236	base $206	+0.5pp $175	+1.0pp $143

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: $29,975
• Closing costs: $3,597
• Reserves months: —
• Total cash needed: —

Rent comps 14 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5301 Stonehedge Dr Evansville, IN	1.0–2.0	1.0–2.0	914	$1,170	$1.28	15d	19	0.16mi
1100 Erie Ave Evansville, IN	1.0–3.0	1.0–2.0	962	$1,500	$1.56	22d	2	0.34mi
1900 Pueblo Pass Evansville, IN	2.0–3.0	1.5	1081	$1,379	$1.28	15d	5	0.52mi
815 Erie Ave Evansville, IN	1.0–2.0	1.0–2.5	1038	$1,349	$1.30	15d	17	0.61mi
950 S Hebron Ave Apt 301 Evansville, IN	2.0	1.0	1088	$1,900	$1.75	22d	1	0.74mi
1165 Shiloh Sq Evansville, IN	1.0–2.0	1.0–2.0	907	$1,145	$1.26	15d	15	0.77mi
1701 Southfield Rd Evansville, IN	3.0	2.5	1696	$1,900	$1.12	22d	1	0.78mi
1411 Jeanette Ave Unit 1411 Evansville, IN	3.0	1.5	1210	$1,195	$0.99	22d	1	1.06mi
3700 Justus Ct Evansville, IN	1.0–2.0	1.0–2.0	790	$975	$1.23	22d	1	1.17mi
1320 Lee Ct Evansville, IN	1.0–4.0	1.0–1.5	1007	$1,266	$1.26	15d	36	1.19mi
4982 Tippecanoe Dr Evansville, IN	1.0–2.0	1.0	897	$910	$1.01	15d	3	1.19mi
7501 E Powell Ave Evansville, IN	3.0	1.0	1100	$1,650	$1.50	22d	1	1.28mi
100 Williamsburg Dr Evansville, IN	1.0–3.0	1.0–1.5	960	$1,475	$1.54	15d	10	1.29mi
200 Kimber Ln Evansville, IN	1.0–3.0	1.0–1.5	1025	$1,399	$1.36	15d	5	1.45mi

HOA detail condo

• Monthly dues: $210 · $2,520/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 11 events

1. 2026-05-07
   status Pending
2. 2026-05-07
   historical
3. 2026-04-29
   status Pending
4. 2026-04-01
   status Active
5. 2026-03-30
   status Active
6. 2026-02-26
   status Pending
7. 2026-01-02
   status Active
8. 2025-12-08
   price $119,900
9. 2025-08-29
   price $125,900
10. 2025-08-14
    listed $129,900 Active
11. 2015-09-15
    listed $74,000

ⓘ 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: $613 · $51/mo
• Projected year-2 tax: $816 · $68/mo
• Expected delta: +$203/yr (+$17/mo · 33.2%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Taxation est. · year 1

• Rental income: $17,398
• − Mortgage interest: −$6,716
• − Property taxes: −$613
• − Insurance: −$600
• − Repairs & maintenance: −$1,392
• − Management: −$1,392
• − HOA: −$2,520
• − Depreciation: −$3,488
• Taxable income: $678
• Est. tax owed @ 24.0%: −$163
• After-tax cash flow: $2,304/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): 29,280
• Household income: $60,897
• Rent vs Own: 50.4% rent · 49.6% own
• Severe rent burden: 1652.0

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 (74%)
• Race & ethnicity: White 74% Black 13% Hispanic / Latino 6% Two or more races 4% Asian 2% Native American 1%
• Hispanic origin (detail): Mexican 5%
• Common ancestry: Slovak 3% Romanian 2% Italian 2%
• Foreign-born: 6% · Canada, China
• Languages at home: 93% English-only · Spanish 4% Chinese 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: ▼ -113.01%
• Current HPI: 195.7299
• Rent YoY: —
• 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

+62.0% since first listed

11 events — show timeline

• 2026-05-07 Pending — IRMLS
• 2026-05-07 Delisted — IRMLS
• 2026-04-29 Pending — IRMLS
• 2026-04-01 Relisted — IRMLS
• 2026-03-30 Relisted — IRMLS
• 2026-02-26 Pending — IRMLS
• 2026-01-02 Relisted — IRMLS
• 2025-12-08 Price Changed $119,900 IRMLS
• 2025-08-29 Price Changed $125,900 IRMLS
• 2025-08-14 Listed $129,900 IRMLS
• 2015-09-15 Listed $74,000 IRMLS

Property tax history

+0.3%/yr

Latest (2018): $613 · +4.9% YoY. Source: county tax records.