104 S Weinbach Ave · Evansville, IN 47714

$168,500

3 bd · 1.0 ba · 1,371 sqft · SingleFamily public records · 9 Days on market

Built 1934 6,839 sqft lot Est $196k · 14% under

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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).

• ARV discount +13.8/15.0
• Cash flow +10.2/30.0
• Rent growth +4.5/5.0
• Schools +3.3/10.0
• Livability +3.2/5.0
• 1% rule +2.9/10.0
• DSCR +2.9/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Great Investment Opportunity! Students just moved out and it was Last Leased for $1,760.00 per month i. e. $440.00 per bedrooms. Within walking distance of U of E, Plenty of Off Street Parking behind the home. 4 Bedrooms 1 Bath with a partial Basement. Recent updates include Kitchen Remodeled new cabinets, Counters, Electric Range/Oven, Microwave Oven/Hood Combo, dishwasher and a Refrigerator. The Roof is 8 years old plus there is a Newer Electric Water Heater and a High efficiency Gas Furnace and Central Air System. Also Included is a Washer & Dryer a Sump Pump and a Stand up Shower all in the basement.

Key facts

• Off street parking
• Electric range oven
• Kitchen remodeled

Tags

• OFF STREET PARKING
• KITCHEN REMODELED
• ELECTRIC RANGE OVEN
• MICROWAVE OVEN HOOD COMBO
• HIGH EFFICIENCY GAS FURNACE
• CENTRAL AIR SYSTEM

Property features AI

Exterior

• Parking: Gravel and aggregate off-street parking
• Security: Smoke detectors; Carbon monoxide detectors
• Utilities: Public water; Public sewer; Cable available and connected
• Home design: Single-family residence; Site-built home; One story
• Construction: Aluminum siding; Block foundation; Built as a site-built home
• Exterior features: Shingle roof; Level lot

Interior

• Kitchen: Disposal; Dishwasher; Microwave; Refrigerator; Electric oven; Electric range
• Bedrooms: Total rooms: 6
• Flooring: Hardwood; Carpet; Ceramic tile
• Bathrooms: 1 full bathroom (main level)
• Heating & cooling: Central air conditioning; Natural gas heating; Forced air; Floor furnace
• Interior features: Eat-in kitchen; Laminate counters; Living room wood-burning fireplace
• Laundry & utility: Washer hookup; Electric dryer hookup; Washer and dryer included; Laundry in basement; Electric water heater

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $168k.

Deal economics

• At list price, monthly cash flow is $-96 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $152k (10.1% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $134k (20.6% below list).
• Recommended offer: $134k (20.6% below list) — sets the bar for 1% rule.
• Cap rate 5.6% vs local median 4.6% in Evansville — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

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: Harper Elementary School (math 32% / reading 27%, grade F, #697 of 994 statewide, top 73%, 337 students, 74% FRL); Washington Middle School (math 14% / reading 24%, grade F, #274 of 330 statewide, top 83%, 353 students, 70% FRL); New Tech Institute (math 34% / reading 74%, grade C-, #79 of 369 statewide, top 26%, 275 students, 40% FRL).
• Market conditions: Rents rising fast (+7.9%/yr); 191 active listings in the ZIP; 9 comparable units currently listed for rent nearby; rentals at typical pace (median 23d 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 $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.

Negotiation context

• Only 9 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1934 — 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 $133,814 (20.6% 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. Built in 1934 — 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. 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?
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: 0.79% ✗
• Cap rate: 5.61%
• Cash-on-cash: -2.44%
• DSCR: 0.89
• GRM: 10.5

CMA / ARV

• ARV (on-the-fly): $196,053
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2051 John St	0.06mi	2/1.0 (-1)	1,316 (-4%)	4mo	$135,000	$103	82
39 N Kelsey Ave	0.25mi	3/1.0	1,402 (+2%)	3mo	$49,820	$36	82
117 S Boeke Rd	0.47mi	3/1.0	1,396 (+2%)	4mo	$200,000	$143	72
2101 E Franklin St	0.30mi	2/1.0 (-1)	1,440 (+5%)	2mo	$164,900	$115	71
424 S Kelsey Ave	0.31mi	4/2.0 (+1)	1,364 (-0%)	5mo	$205,000	$150	71
2108 Bellemeade Ave	0.55mi	3/1.0	1,330 (-3%)	4mo	$235,000	$177	66
2157 E Mulberry St	0.54mi	3/2.0	1,313 (-4%)	6mo	$218,000	$166	59
219 N Rotherwood Ave	0.37mi	3/2.0	1,200 (-12%)	2mo	$189,900	$158	57
2333 E Illinois St	0.50mi	3/1.0	1,194 (-13%)	6mo	$155,000	$130	50
911 Oak Hill Rd	0.73mi	2/1.0 (-1)	1,512 (+10%)	2mo	$145,000	$96	42
732 S Norman Ave	0.66mi	2/1.5 (-1)	1,540 (+12%)	2mo	$230,000	$149	40
2305 Bellemeade Ave	0.68mi	2/2.0 (-1)	1,574 (+15%)	2mo	$221,000	$140	33

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: -15.1%
• Equity multiple: 0.44×
• Total profit: $-26,538
• Equity at exit: $25,124

10-year hold

• IRR: 0.1%
• Equity multiple: 1.00×
• Total profit: $225
• Equity at exit: $14,569

Cash invested: $47,180 (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: 191
• Price-to-rent: 10.5×

Monthly cashflow live

• Estimated rent: $1,338 high
• Mortgage (P&I): −$884
• Tax from tax record: −$199 /mo · $2,391/yr
• Insurance: −$70
• HOA: −$0
• Vacancy / Maint / Mgmt: −$281
• Net cashflow: $-96

Break-even live

Break-even rent $1,460

Max offer price $151,549

Occupancy floor —

Sensitivity live

Price	-10% $-1	-5% $-48	+0% $-96	+5% $-144	+10% $-191
Rent	-10% $-202	-5% $-149	+0% $-96	+5% $-43	+10% $10
Rate	-1.0pp $-11	-0.5pp $-53	base $-96	+0.5pp $-140	+1.0pp $-184

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: $42,125
• Closing costs: $5,055
• Reserves months: —
• Total cash needed: —

Rent comps 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
210 S Weinbach Ave Evansville, IN	3.0	1.0	1080	$1,450	$1.34	23d	1	0.07mi
1321 E Indiana St Evansville, IN	2.0	1.0	964	$1,050	$1.09	15d	1	0.61mi
1303 E Indiana St Evansville, IN	2.0	1.0	975	$1,195	$1.23	15d	1	0.64mi
913 N Spring St Evansville, IN	3.0	1.5	1232	$1,350	$1.10	15d	1	0.69mi
900 S Saint James Blvd Evansville, IN	3.0	2.0	1118	$1,450	$1.30	23d	1	1.04mi
1133 Bayard Park Dr Unit B Evansville, IN	2.0	1.0	990	$800	$0.81	23d	1	1.06mi
304 S Grand Ave Evansville, IN	2.0	1.0	967	$955	$0.99	23d	1	1.09mi
2015 N Weinbach Ave Evansville, IN	2.0	2.0	1200	$1,200	$1.00	23d	1	1.40mi
734 Bayard Park Dr Evansville, IN	3.0	2.0	1000	$1,425	$1.43	23d	1	1.47mi

Listing history 7 events

1. 2026-06-22
   days on market $168,500 Active 9 DOM
2. 2026-06-18
   days on market $168,500 Active 6 DOM
3. 2026-06-17
   days on market $168,500 Active 5 DOM
4. 2026-06-16
   days on market $168,500 Active 4 DOM
5. 2026-06-15
   days on market $168,500 Active 3 DOM
6. 2026-06-13
   remarks 613-char remark
7. 2026-06-13
   listed $168,500 Active 1 DOM

ⓘ 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: $2,391 · $199/mo
• Projected year-2 tax: $2,391 · $199/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 · 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: $16,058
• − Mortgage interest: −$9,439
• − Property taxes: −$2,391
• − Insurance: −$842
• − Repairs & maintenance: −$1,285
• − Management: −$1,285
• − Depreciation: −$4,902
• Taxable loss: −$4,085
• Est. tax savings @ 24.0%: +$981
• After-tax cash flow: $-171/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

• 2026-06-12 Listed $168,500 IRMLS

Property tax history

-0.7%/yr

Latest (2024): $2,391 · +2.3% YoY. Source: county tax records.