670 S Burkhardt Rd · Evansville, IN 47715

$219,900

4 bd · 2.0 ba · 1,338 sqft · SingleFamily public records · 106 Days on market

Built 1979 7,320 sqft lot Est $229k · at est. ↓ 5% since listing

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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).

• Cash flow +12.7/30.0
• ARV discount +9.3/15.0
• DSCR +3.8/10.0
• Schools +3.3/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +2.4/10.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to this spacious East Side Evansville home offering over 2,600 square feet of versatile living space! With 5 bedrooms and 2 full baths, there’s room for everyone — whether you need extra bedrooms, a home office, or guest space. Major updates are already taken care of, including an energy-efficient furnace and HVAC (2021), AC (2021), Tankless water heater (2021), and roof (2016). Durable vinyl and laminate flooring flow throughout the home for a clean, updated look. The partially finished walkout basement adds incredible flexibility with a full second kitchen — ideal for an in-law suite, extended stay guests, or separate entertaining space. Outside, enjoy a privacy-

Key facts

• Full second kitchen
• Privacy fenced yard
• Detached garage

Tags

• ENERGY EFFICIENT FURNACE
• FULL SECOND KITCHEN
• PRIVACY FENCED YARD
• DETACHED GARAGE

Property features AI

Exterior

• Parking: Detached 2-car garage
• Utilities: Public water; Public sewer
• Home design: Single-family residence (site-built); One story
• Construction: Brick and vinyl siding exterior; Block foundation
• Exterior features: Patio; Porch

Interior

• Kitchen: Dishwasher; Microwave; Refrigerator; Electric cooktop; Electric oven
• Bedrooms: Total of 9 rooms (includes bedrooms and living spaces)
• Bathrooms: 2 full bathrooms; 1 main-level bathroom
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: Pantry; Eat-in kitchen; Full, partially finished basement
• Laundry & utility: Washer and dryer included; Laundry located in basement

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $220k.

Deal economics

• At list price, monthly cash flow is $-22 ($-269/yr) — negative.
• To cash-flow at today's rent, offer at most $216k (1.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $164k (25.6% below list).
• Recommended offer: $164k (25.6% below list) — sets the bar for 1% rule.
• Cap rate 6.2% 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: Hebron Elementary School (math 37% / reading 35%, grade F, #577 of 994 statewide, top 59%, 758 students, 56% FRL); Plaza Park International Prep Acad (math 27% / reading 37%, grade F, #190 of 330 statewide, top 59%, 650 students, 65% FRL); William Henry Harrison High School (math 29% / reading 54%, grade F, #211 of 369 statewide, top 58%, 1,158 students, 61% FRL).
• Market conditions: 181 active listings in the ZIP; 10 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).
• This rent runs 32% of the median local income ($61k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 106 days — a 9% lower offer ($200k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts; this cycle's ask has dropped $20k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Climate carrying-cost: extreme-heat days projected 7→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $163,603 (25.6% 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. It's been on market 106 days. Have you received any prior offers? Is the seller open to a 26% concession, seller financing, or rate buy-down credit?
3. Built in 1979 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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: 0.74% ✗
• Cap rate: 6.17%
• Cash-on-cash: -0.44%
• DSCR: 0.98
• GRM: 11.2

CMA / ARV

• ARV (on-the-fly): $228,798
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
437 Hollybush Ln	0.25mi	3/2.0 (-1)	1,318 (-2%)	2mo	$235,000	$178	79
720 Southfield Rd	0.22mi	3/2.0 (-1)	1,371 (+2%)	8mo	$245,000	$179	74
6412 E Oak St	0.21mi	3/1.5 (-1)	1,277 (-5%)	6mo	$189,000	$148	71
6015 E Walnut St	0.42mi	3/2.0 (-1)	1,288 (-4%)	1mo	$220,000	$171	69
213 Thompson Ave	0.47mi	3/2.0 (-1)	1,416 (+6%)	1mo	$257,000	$181	63
845 Park Plaza Dr	0.47mi	3/2.0 (-1)	1,388 (+4%)	5mo	$227,900	$164	63
816 Southfield Rd	0.28mi	4/2.0	1,512 (+13%)	7mo	$214,900	$142	60
214 Shane Ct	0.44mi	3/2.0 (-1)	1,450 (+8%)	2mo	$250,000	$172	59
7510 E Mulberry St	0.71mi	3/2.0 (-1)	1,425 (+6%)	0mo	$244,900	$172	51
832 S Cullen Ave Ave	0.72mi	3/1.0 (-1)	1,296 (-3%)	2mo	$194,900	$150	50
915 S Royal Ave	0.59mi	3/2.0 (-1)	1,473 (+10%)	5mo	$230,000	$156	46
7419 Lincoln Ave	0.69mi	3/1.0 (-1)	1,222 (-9%)	2mo	$180,000	$147	43

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -17.1%
• Equity multiple: 0.40×
• Total profit: $-37,162
• Equity at exit: $32,788

10-year hold

• IRR: -9.1%
• Equity multiple: 0.44×
• Total profit: $-34,609
• Equity at exit: $19,013

Cash invested: $61,572 (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: 181
• Price-to-rent: 11.2×

Monthly cashflow live

• Estimated rent: $1,636 high
• Mortgage (P&I): −$1,153
• Tax from tax record: −$70 /mo · $841/yr
• Insurance: −$92
• HOA: −$0
• Vacancy / Maint / Mgmt: −$344
• Net cashflow: $-22

Break-even live

Break-even rent $1,664

Max offer price $215,941

Occupancy floor 96%

Sensitivity live

Price	-10% $102	-5% $40	+0% $-22	+5% $-85	+10% $-147
Rent	-10% $-152	-5% $-87	+0% $-22	+5% $42	+10% $107
Rate	-1.0pp $88	-0.5pp $34	base $-22	+0.5pp $-79	+1.0pp $-137

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: $54,975
• Closing costs: $6,597
• Reserves months: —
• Total cash needed: —

Rent comps 10 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
100 Williamsburg Dr Evansville, IN	1.0–3.0	1.0–1.5	960	$1,475	$1.54	15d	10	0.53mi
7501 E Powell Ave Evansville, IN	3.0	1.0	1100	$1,650	$1.50	23d	1	0.74mi
200 Kimber Ln Evansville, IN	1.0–3.0	1.0–1.5	1025	$1,399	$1.36	15d	5	0.76mi
1100 Erie Ave Evansville, IN	1.0–3.0	1.0–2.0	962	$1,500	$1.56	23d	2	0.92mi
410 Fuquay Rd Evansville, IN	1.0–3.0	1.0–2.0	955	$1,576	$1.65	15d	11	0.96mi
1701 Southfield Rd Evansville, IN	3.0	2.5	1696	$1,900	$1.12	23d	1	0.98mi
728 Cross Pointe Blvd Evansville, IN	3.0	1.0	1052	$1,100	$1.05	23d	1	1.22mi
7900 Circle Front Ct Evansville, IN	1.0–3.0	1.0–2.0	953	$1,569	$1.65	15d	6	1.33mi
1900 Pueblo Pass Evansville, IN	2.0–3.0	1.5	1081	$1,379	$1.28	15d	5	1.36mi
705 Beachfront Dr Evansville, IN	3.0	2.0	1325	$1,549	$1.17	23d	1	1.43mi

Listing history 22 events

1. 2026-06-22
   days on market $219,900 Active 106 DOM
2. 2026-06-18
   days on market $219,900 Active 103 DOM
3. 2026-06-17
   days on market $219,900 Active 102 DOM
4. 2026-06-16
   days on market $219,900 Active 101 DOM
5. 2026-06-15
   days on market $219,900 Active 100 DOM
6. 2026-06-14
   days on market $219,900 Active 98 DOM
7. 2026-06-13
   pricedays on market $219,900 Active 97 DOM
8. 2026-06-10
   days on market $225,000 Active 95 DOM
9. 2026-06-09
   days on market $225,000 Active 94 DOM
10. 2026-06-08
    days on market $225,000 Active 93 DOM
11. 2026-06-07
    days on market $225,000 Active 92 DOM
12. 2026-06-02
    days on market $225,000 Active 87 DOM
13. 2026-06-01
    days on market $225,000 Active 86 DOM
14. 2026-05-31
    days on market $225,000 Active 85 DOM
15. 2026-05-30
    days on market $225,000 Active 84 DOM
16. 2026-05-22
    price $227,500
17. 2026-05-07
    status Active
18. 2026-05-07
    historical
19. 2026-05-01
    status Active
20. 2026-03-17
    price $229,900
21. 2026-03-05
    price $234,900
22. 2026-02-13
    listed $239,900 Active

ⓘ 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: $841 · $70/mo
• Projected year-2 tax: $1,355 · $113/mo
• Expected delta: +$514/yr (+$43/mo · 61.1%)

ⓘ 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 ≥106°F today · 18 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: $19,632
• − Mortgage interest: −$12,318
• − Property taxes: −$841
• − Insurance: −$1,100
• − Repairs & maintenance: −$1,571
• − Management: −$1,571
• − Depreciation: −$6,397
• Taxable loss: −$4,164
• Est. tax savings @ 24.0%: +$999
• After-tax cash flow: $730/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

-5.2% since first listed

7 events — show timeline

• 2026-05-22 Price Changed $227,500 IRMLS
• 2026-05-07 Relisted — IRMLS
• 2026-05-07 Delisted — IRMLS
• 2026-05-01 Relisted — IRMLS
• 2026-03-17 Price Changed $229,900 IRMLS
• 2026-03-05 Price Changed $234,900 IRMLS
• 2026-02-13 Listed $239,900 IRMLS

Property tax history

-5.1%/yr

Latest (2024): $841 · +2.0% YoY. Source: county tax records.