Vertex (Grandin Pointe) Plan · Evansville, IN 47720

$69,995

3 bd · 2.0 ba · 1,001 sqft · Manufactured · 323 Days on market

$475/mo HOA · 41% of rent

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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).

• 1% rule +10.0/10.0
• Cash flow +9.4/30.0
• ARV discount +7.5/15.0
• Schools +3.3/10.0
• Livability +3.2/5.0
• DSCR +2.6/10.0
• 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

• Other: Inventory type: Plan
• Financial info: List price $69,995
• HOA & community: Association fee: $475

Exterior

• Home design: Plan: Vertex (Grandin Pointe); New construction plan
• Exterior features: Address: 5901 N Saint Joseph Ave, Evansville, IN 47720

Interior

• Bedrooms: 3 bedrooms
• Bathrooms: 2 full bathrooms
• Interior features: Living area approximately 1,001

🏗️ 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 3-bed/2.0-bath manufactured listed at $70k.

Deal economics

• At list price, monthly cash flow is $-50 ($-599/yr) — negative.
• To cash-flow at today's rent, offer at most $63k (10.3% below list).
• Meets the 1% rule at list price ($1k rent vs $70k).
• Recommended offer: $62k (12.0% below list) — sets the bar for market timing.

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; 4 comparable units currently listed for rent nearby; rentals at typical pace (median 22d 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 $484 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 323 days — a 12% lower offer ($62k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: HOA is 41% 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 $61,595 (12.0% 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 323 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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?
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 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: 1.64% ✓
• Cap rate: 5.44%
• Cash-on-cash: -3.06%
• DSCR: 0.86
• GRM: 5.1

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: -20.8%
• Equity multiple: 0.27×
• Total profit: $-14,213
• Equity at exit: $10,436

10-year hold

• IRR: -12.9%
• Equity multiple: 0.22×
• Total profit: $-15,215
• Equity at exit: $6,052

Cash invested: $19,599 (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: 5.1×

Monthly cashflow live

• Estimated rent: $1,150 medium
• Mortgage (P&I): −$367
• Tax est. 1.5%: −$87 /mo · $1,050/yr
• Insurance: −$29
• HOA: −$475
• Vacancy / Maint / Mgmt: −$242
• Net cashflow: $-50

Break-even live

Break-even rent $1,214

Max offer price $62,770

Occupancy floor 99%

Sensitivity live

Price	-10% $-2	-5% $-26	+0% $-50	+5% $-74	+10% $-98
Rent	-10% $-141	-5% $-95	+0% $-50	+5% $-4	+10% $41
Rate	-1.0pp $-15	-0.5pp $-32	base $-50	+0.5pp $-68	+1.0pp $-87

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: $17,499
• Closing costs: $2,100
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
6907 Sweet Gum Ct Evansville, IN	1.0–2.0	1.0	672	$899	$1.34	22d	3	1.23mi
1219 Kiwi Ct Evansville, IN	2.0	2.0	1200	$1,250	$1.04	22d	1	1.31mi
1125 Wellington Dr Evansville, IN	1.0–2.0	1.0–1.5	975	$1,340	$1.37	14d	15	1.37mi
3900 N Fulton Ave Evansville, IN	2.0	1.0	620	$1,015	$1.64	14d	6	1.38mi

HOA detail

• Monthly dues: $475 · $5,700/yr

Listing history 14 events

1. 2026-06-18
   days on market $69,995 Active 323 DOM
2. 2026-06-17
   days on market $69,995 Active 322 DOM
3. 2026-06-16
   days on market $69,995 Active 321 DOM
4. 2026-06-15
   days on market $69,995 Active 320 DOM
5. 2026-06-14
   days on market $69,995 Active 318 DOM
6. 2026-06-13
   days on market $69,995 Active 317 DOM
7. 2026-06-10
   days on market $69,995 Active 315 DOM
8. 2026-06-09
   days on market $69,995 Active 314 DOM
9. 2026-06-08
   days on market $69,995 Active 313 DOM
10. 2026-06-07
    days on market $69,995 Active 312 DOM
11. 2026-06-02
    days on market $69,995 Active 307 DOM
12. 2026-06-01
    days on market $69,995 Active 306 DOM
13. 2026-05-31
    days on market $69,995 Active 305 DOM
14. 2026-05-30
    days on market $69,995 Active 304 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: $13,804
• − Mortgage interest: −$3,921
• − Property taxes: −$1,050
• − Insurance: −$350
• − Repairs & maintenance: −$1,104
• − Management: −$1,104
• − HOA: −$5,700
• − Depreciation: −$2,036
• Taxable loss: −$1,461
• Est. tax savings @ 24.0%: +$351
• After-tax cash flow: $-248/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