2423 2425 N Kerth Ave · Evansville, IN 47711

$122,900

4 bd · 2.0 ba · 1,400 sqft · SingleFamily · 150 Days on market

Built 1945 6,534 sqft lot Est $125k · at est. ↓ 8% since listing

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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 +22.9/30.0
• ARV discount +8.1/15.0
• DSCR +7.3/10.0
• 1% rule +6.0/10.0
• 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 MLS

Great investment opportunity! This 4 bed, 2 Full bath duplex offers a convenient location close to dining and public transportation. Each unit of this duplex offers 2 bedrooms, 1 full bath, living room, and spacious kitchen. New flooring, updated bathroom, washer & dryer hookups, off street parking and much more!

Key facts

• Off street parking
• New flooring
• Convenient location

Tags

• INVESTMENT OPPORTUNITY
• CONVENIENT LOCATION
• NEW FLOORING
• UPDATED BATHROOM
• WASHER AND DRYER HOOKUPS
• OFF STREET PARKING

Property features AI

Exterior

• Parking: Gravel off-street parking
• Security: Smoke detector(s)
• Utilities: Public water; Public sewer
• Home design: Single-family residence; Site-built home; One story; Approximately 1,400 above-grade finished area; Subdivision: Diamond Villa
• Construction: Shingle siding; Shingle roof; Crawl space foundation; Built as site-built construction
• Exterior features: Covered porch; Porch; Level lot

Interior

• Kitchen: Refrigerator; Electric range
• Bathrooms: Two full bathrooms (both on the main level)
• Heating & cooling: Forced air heating; No central cooling
• Interior features: Refrigerator; Electric range; One fireplace; Crawl space basement
• Laundry & utility: Washer hookup on main level; Electric dryer hookup on main level

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $123k.

Deal economics

• At list price, monthly cash flow is $215 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $123k).
• Recommended offer: $108k (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: Evans School (math 9% / reading 7%, grade F, #945 of 994 statewide, top 95%, 499 students, 85% FRL); North Junior High School (math 44% / reading 57%, grade C, #43 of 330 statewide, top 14%, 929 students, 42% FRL); North High School (math 57% / reading 74%, grade B, #29 of 369 statewide, top 8%, 1,674 students, 35% FRL) — zoned schools at 54% FRL track the district average.
• Market conditions: Rents rising fast (+6.7%/yr); 229 active listings in the ZIP; 5 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 $850 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 6.7% rent growth), your $34k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 150 days — a 12% lower offer ($108k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $12k (9%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1945 — 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 $108,152 (12.0% below list)

Questions for the listing agent

1. It's been on market 150 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 1945 — 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: 1.10% ✓
• Cap rate: 8.40%
• Cash-on-cash: 7.51%
• DSCR: 1.33
• GRM: 7.6

CMA / ARV

• ARV (on-the-fly): $124,600
• Comps found: 6

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2576 2580 Stanley Ct	0.34mi	4/2.0	1,500 (+7%)	5mo	$134,000	$89	68
2912 N Bedford Ave	0.49mi	3/1.0 (-1)	1,383 (-1%)	13mo	$75,000	$54	55
936 Tulip Ave	0.39mi	3/2.0 (-1)	1,559 (+11%)	11mo	$180,000	$115	49
1820 Haven Dr	0.68mi	3/2.0 (-1)	1,376 (-2%)	19mo	$175,000	$127	44
706 Reis Ave	0.60mi	3/1.0 (-1)	1,516 (+8%)	20mo	$82,000	$54	33
1916 Haven Dr	0.65mi	3/1.0 (-1)	1,579 (+13%)	17mo	$125,000	$79	25

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: -0.7%
• Equity multiple: 0.97×
• Total profit: $-949
• Equity at exit: $18,325

10-year hold

• IRR: 12.5%
• Equity multiple: 2.17×
• Total profit: $40,097
• Equity at exit: $10,626

Cash invested: $34,412 (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: 7.6×

Monthly cashflow live

• Estimated rent: $1,348 medium
• Mortgage (P&I): −$645
• Tax est. 1.5%: −$154 /mo · $1,844/yr
• Insurance: −$51
• HOA: −$0
• Vacancy / Maint / Mgmt: −$283
• Net cashflow: $215

Break-even live

Break-even rent $1,075

Max offer price $122,900

Occupancy floor 79%

Sensitivity live

Price	-10% $300	-5% $258	+0% $215	+5% $173	+10% $130
Rent	-10% $109	-5% $162	+0% $215	+5% $269	+10% $322
Rate	-1.0pp $277	-0.5pp $247	base $215	+0.5pp $183	+1.0pp $151

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: $30,725
• Closing costs: $3,687
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
905 Vanderburgh Ave Evansville, IN	3.0	1.0	988	$1,200	$1.21	14d	1	0.88mi
4135 Highway 41 N Evansville, IN	3.0	2.0	1390	$1,600	$1.15	22d	1	1.01mi
109 E Eichel Ave Unit B Evansville, IN	4.0	2.0	1228	$1,257	$1.02	22d	1	1.14mi
121 E Florida St Evansville, IN	4.0	2.0	1702	$100	$0.06	22d	1	1.20mi
913 N Spring St Evansville, IN	3.0	1.5	1232	$1,350	$1.10	14d	1	1.45mi

Listing history 22 events

1. 2026-06-16
   status $122,900 Pending 150 DOM
2. 2026-06-15
   days on market $122,900 Active 150 DOM
3. 2026-06-14
   days on market $122,900 Active 148 DOM
4. 2026-06-13
   days on market $122,900 Active 147 DOM
5. 2026-06-10
   days on market $122,900 Active 145 DOM
6. 2026-06-09
   days on market $122,900 Active 144 DOM
7. 2026-06-08
   days on market $122,900 Active 143 DOM
8. 2026-06-07
   days on market $122,900 Active 142 DOM
9. 2026-06-02
   days on market $122,900 Active 137 DOM
10. 2026-06-01
    days on market $122,900 Active 136 DOM
11. 2026-05-31
    days on market $122,900 Active 135 DOM
12. 2026-05-30
    days on market $122,900 Active 134 DOM
13. 2026-05-05
    price $123,900

    Show marketing remark (320 chars)

    Great investment opportunity! This 4 bed, 2 Full bath duplex offers a convenient location close to dining and public transportation. Each unit of this duplex offers 2 bedrooms, 1 full bath, living room, and spacious kitchen. New flooring, updated bathroom, washer & dryer hookups, off street parking and much more!

14. 2026-05-05
    price $123,900 320-char remark

    Show marketing remark (320 chars)

    Great investment opportunity! This 4 bed, 2 Full bath duplex offers a convenient location close to dining and public transportation. Each unit of this duplex offers 2 bedrooms, 1 full bath, living room, and spacious kitchen. New flooring, updated bathroom, washer & dryer hookups, off street parking and much more!

15. 2026-03-05
    price $124,900

    Show marketing remark (320 chars)

    Great investment opportunity! This 4 bed, 2 Full bath duplex offers a convenient location close to dining and public transportation. Each unit of this duplex offers 2 bedrooms, 1 full bath, living room, and spacious kitchen. New flooring, updated bathroom, washer & dryer hookups, off street parking and much more!

16. 2026-03-05
    price $124,900 320-char remark

    Show marketing remark (320 chars)

    Great investment opportunity! This 4 bed, 2 Full bath duplex offers a convenient location close to dining and public transportation. Each unit of this duplex offers 2 bedrooms, 1 full bath, living room, and spacious kitchen. New flooring, updated bathroom, washer & dryer hookups, off street parking and much more!

17. 2026-02-27
    price $131,500

    Show marketing remark (320 chars)

    Great investment opportunity! This 4 bed, 2 Full bath duplex offers a convenient location close to dining and public transportation. Each unit of this duplex offers 2 bedrooms, 1 full bath, living room, and spacious kitchen. New flooring, updated bathroom, washer & dryer hookups, off street parking and much more!

18. 2026-02-27
    price $131,500 320-char remark

    Show marketing remark (320 chars)

    Great investment opportunity! This 4 bed, 2 Full bath duplex offers a convenient location close to dining and public transportation. Each unit of this duplex offers 2 bedrooms, 1 full bath, living room, and spacious kitchen. New flooring, updated bathroom, washer & dryer hookups, off street parking and much more!

19. 2026-02-11
    price $132,500

    Show marketing remark (320 chars)

    Great investment opportunity! This 4 bed, 2 Full bath duplex offers a convenient location close to dining and public transportation. Each unit of this duplex offers 2 bedrooms, 1 full bath, living room, and spacious kitchen. New flooring, updated bathroom, washer & dryer hookups, off street parking and much more!

20. 2026-02-11
    price $132,500 320-char remark

    Show marketing remark (320 chars)

    Great investment opportunity! This 4 bed, 2 Full bath duplex offers a convenient location close to dining and public transportation. Each unit of this duplex offers 2 bedrooms, 1 full bath, living room, and spacious kitchen. New flooring, updated bathroom, washer & dryer hookups, off street parking and much more!

21. 2026-01-16
    listed $134,900 Active 320-char remark

    Show marketing remark (320 chars)

    Great investment opportunity! This 4 bed, 2 Full bath duplex offers a convenient location close to dining and public transportation. Each unit of this duplex offers 2 bedrooms, 1 full bath, living room, and spacious kitchen. New flooring, updated bathroom, washer & dryer hookups, off street parking and much more!

22. 2026-01-16
    listed $134,900 Active

    Show marketing remark (320 chars)

    Great investment opportunity! This 4 bed, 2 Full bath duplex offers a convenient location close to dining and public transportation. Each unit of this duplex offers 2 bedrooms, 1 full bath, living room, and spacious kitchen. New flooring, updated bathroom, washer & dryer hookups, off street parking and much more!

ⓘ 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 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 5/10 Major 7 d/yr ≥106°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: $16,172
• − Mortgage interest: −$6,884
• − Property taxes: −$1,844
• − Insurance: −$614
• − Repairs & maintenance: −$1,294
• − Management: −$1,294
• − Depreciation: −$3,575
• Taxable income: $667
• Est. tax owed @ 24.0%: −$160
• After-tax cash flow: $2,424/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

-8.2% since first listed

10 events — show timeline

• 2026-05-05 Price Changed $123,900 IRMLS
• 2026-05-05 Price Changed $123,900 IRMLS
• 2026-03-05 Price Changed $124,900 IRMLS
• 2026-03-05 Price Changed $124,900 IRMLS
• 2026-02-27 Price Changed $131,500 IRMLS
• 2026-02-27 Price Changed $131,500 IRMLS
• 2026-02-11 Price Changed $132,500 IRMLS
• 2026-02-11 Price Changed $132,500 IRMLS
• 2026-01-16 Listed $134,900 IRMLS
• 2026-01-16 Listed $134,900 IRMLS