720 E Florida St · Evansville, IN 47711

$82,475

2 bd · 1.0 ba · 952 sqft · SingleFamily public records · 63 Days on market

Built 1914 3,049 sqft lot Est $142k · 42% under

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Why this score? — see what drove the B- 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 +25.1/30.0
• ARV discount +15.0/15.0
• DSCR +8.2/10.0
• 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

This house is a part of a package deal. These are all tenant occupied rental properties that are professionally managed. The photos are when the property was vacant to keep the privacy of the tenants. The following houses are for sale for a total price of $339,900.00 | 720 E Florida St, Evansville, IN - Rented at $795/m | 1550 S Morton Ave, Evansville, IN - Rented at $950/m | 1319 Oakley St, Evansville, IN - Rented at $1150/m | 1309 N Fourth Ave, Evansville, IN - Rented at $900/m | Total Rent - $3,795/m These are all Single Family homes where the tenants are responsible for all utilities.

Key facts

• 3,049 sq ft lot
• Garage
• Built 1914

Property features AI

Exterior

• Parking: Detached off-street garage with 1 garage space
• Utilities: Public water; Public sewer
• Home design: Single-family residence; Site-built home; Single-story
• Construction: Aluminum and vinyl siding; Block foundation
• Exterior features: Level lot; Lot dimensions approximately 127 x 25

Interior

• Bedrooms: Bedrooms located on main level
• Bathrooms: 1 full bathroom on the main level
• Heating & cooling: Natural gas forced air heating; Central air conditioning
• Interior features: 6 total rooms; Crawl space basement
• Laundry & utility: Laundry on the main level

🏷️ Possibly a rental listed for sale. The $82,475 price doesn't fit this home's estimated sale value (~$141,848) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $82k.

Deal economics

• At list price, monthly cash flow is $183 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($911 rent vs $82k).
• Recommended offer: $78k (6.0% below list) — sets the bar for market timing.
• Cap rate 9.0% 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: Delaware Elementary School (math 22% / reading 16%, grade F, #829 of 994 statewide, top 84%, 338 students, 90% 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).
• Market conditions: Rents rising fast (+6.7%/yr); 229 active listings in the ZIP; 25 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); 508 units permitted in Vanderburgh County in 2024 (32 in 5+ unit buildings).
• This rent is only 16% of the median local income ($66k/yr) — well below the 30% rent-burden line; pricing power to push rent on renewal without tenant pushback.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $570 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 6.7% rent growth), your $23k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 63 days — a 6% lower offer ($78k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1914 — expect roof / HVAC / electrical / plumbing capex.
• 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 $77,526 (6.0% below list)

Questions for the listing agent

1. It's been on market 63 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1914 — 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: 8.96%
• Cash-on-cash: 9.52%
• DSCR: 1.42
• GRM: 7.5

CMA / ARV

• ARV (on-the-fly): $141,848
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
311 E Oregon St	0.43mi	2/1.0	950 (-0%)	5mo	$17,000	$18	76
1311 N Garvin St	0.20mi	2/1.0	1,016 (+7%)	6mo	$126,000	$124	75
812 N Garvin St	0.37mi	2/1.0	978 (+3%)	6mo	$64,900	$66	73
638 E Missouri St	0.18mi	3/1.0 (+1)	840 (-12%)	3mo	$25,500	$30	64
404 Wedeking Ave	0.64mi	2/1.0	931 (-2%)	5mo	$170,000	$183	63
619 Keck Ave	0.42mi	2/1.0	848 (-11%)	0mo	$152,000	$179	62
516 Wedeking Ave	0.59mi	2/1.5	896 (-6%)	7mo	$120,000	$134	55
719 Wedeking Ave	0.54mi	3/1.0 (+1)	1,026 (+8%)	4mo	$184,900	$180	54
220 Wedeking Ave	0.68mi	2/1.0	907 (-5%)	8mo	$135,000	$149	54
1311 E Missouri St	0.67mi	2/1.0	869 (-9%)	3mo	$144,900	$167	51
416 E Michigan St	0.65mi	2/1.0	1,090 (+14%)	0mo	$50,000	$46	45
424 Richardt Ave	0.67mi	2/1.0	816 (-14%)	0mo	$123,000	$151	44

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: 2.0%
• Equity multiple: 1.08×
• Total profit: $1,835
• Equity at exit: $12,297

10-year hold

• IRR: 14.8%
• Equity multiple: 2.40×
• Total profit: $32,265
• Equity at exit: $7,131

Cash invested: $23,093 (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: 7.5×

Monthly cashflow live

• Estimated rent: $911 high
• Mortgage (P&I): −$433
• Tax from tax record: −$69 /mo · $833/yr
• Insurance: −$34
• HOA: −$0
• Vacancy / Maint / Mgmt: −$191
• Net cashflow: $183

Break-even live

Break-even rent $679

Max offer price $82,475

Occupancy floor 75%

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: $20,619
• Closing costs: $2,474
• Reserves months: —
• Total cash needed: —

Rent comps 25 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
109 E Eichel Ave Unit A Evansville, IN	1.0	1.0	675	$745	$1.10	21d	1	0.48mi
500 Richardt Ave Evansville, IN	1.0	1.0	550	$700	$1.27	21d	1	0.64mi
32 W Tennessee St Evansville, IN	2.0	1.0	864	$925	$1.07	13d	1	0.68mi
1018 Baker Ave Unit B Evansville, IN	1.0	1.0	800	$625	$0.78	21d	1	0.73mi
610 N Main St Evansville, IN	2.0	1.0	751	$675	$0.90	21d	1	0.76mi
2501 N Evans Ave Unit A Evansville, IN	2.0	1.0	856	$900	$1.05	21d	1	0.80mi
820 Negley Ave Unit B Evansville, IN	1.0	1.0	575	$695	$1.21	21d	1	0.80mi
2511 N Kentucky Ave Unit 23 Evansville, IN	1.0	1.0	584	$650	$1.11	21d	1	0.87mi
941 Stanley Ave Unit A Evansville, IN	1.0	1.0	850	$800	$0.94	21d	1	0.88mi
1219 Joan Ave Unit 1219 Evansville, IN	2.0	1.0	725	$845	$1.17	13d	1	0.89mi
200 N Main St Evansville, IN	2.0	1.0–2.0	857	$1,599	$1.86	13d	7	0.94mi
1111 Stanley Ave Evansville, IN	2.0	1.0	670	$1,000	$1.49	21d	1	1.00mi
1303 E Indiana St Evansville, IN	2.0	1.0	975	$1,195	$1.23	13d	1	1.08mi
41 W Division St Apt 200 Evansville, IN	2.0	2.0	1083	$1,500	$1.39	21d	1	1.09mi
41 W Division St Unit 101 Evansville, IN	1.0	1.0	634	$1,100	$1.74	21d	1	1.09mi
1321 E Indiana St Evansville, IN	2.0	1.0	964	$1,050	$1.09	13d	1	1.10mi
304 S Grand Ave Evansville, IN	2.0	1.0	967	$955	$0.99	21d	1	1.10mi
1415 E Indiana St Evansville, IN	2.0	1.0	814	$795	$0.98	13d	1	1.18mi
406 Edgar St Unit 1 Evansville, IN	1.0	1.0	530	$1,500	$2.83	21d	1	1.19mi
1680 E Franklin St #1682 Evansville, IN	2.0	1.0	675	$855	$1.27	21d	7	1.20mi
1440 E Division St Evansville, IN	2.0	1.0	689	$1,250	$1.81	13d	1	1.22mi
507 S Evans Ave Evansville, IN	2.0	1.0	750	$795	$1.06	21d	1	1.27mi
706 Court St Evansville, IN	2.0	1.5	1100	$850	$0.77	21d	1	1.33mi
400 NW 5th St Unit 4 Evansville, IN	2.0	1.0	792	$725	$0.92	21d	1	1.47mi
24 NW 6th St Apt 103 Evansville, IN	1.0	1.0	706	$1,300	$1.84	21d	1	1.48mi

Listing history 16 events

1. 2026-06-18
   days on market $82,475 Active 63 DOM
2. 2026-06-17
   price $82,475 Active 62 DOM
3. 2026-06-17
   days on market $84,975 Active 62 DOM
4. 2026-06-16
   days on market $84,975 Active 61 DOM
5. 2026-06-15
   days on market $84,975 Active 60 DOM
6. 2026-06-14
   days on market $84,975 Active 58 DOM
7. 2026-06-13
   days on market $84,975 Active 57 DOM
8. 2026-06-10
   days on market $84,975 Active 55 DOM
9. 2026-06-09
   days on market $84,975 Active 54 DOM
10. 2026-06-08
    days on market $84,975 Active 53 DOM
11. 2026-06-07
    days on market $84,975 Active 52 DOM
12. 2026-06-02
    days on market $84,975 Active 47 DOM
13. 2026-06-01
    days on market $84,975 Active 46 DOM
14. 2026-05-31
    days on market $84,975 Active 45 DOM
15. 2026-05-30
    days on market $84,975 Active 44 DOM
16. 2026-04-17
    listed $84,975 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: $833 · $69/mo
• Projected year-2 tax: $833 · $69/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 6/10 Major FEMA zone X (unshaded) · 71% 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 4/10 Moderate 3 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $10,929
• − Mortgage interest: −$4,620
• − Property taxes: −$833
• − Insurance: −$412
• − Repairs & maintenance: −$874
• − Management: −$874
• − Depreciation: −$2,399
• Taxable income: $916
• Est. tax owed @ 24.0%: −$220
• After-tax cash flow: $1,979/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

1 event — show timeline

• 2026-04-17 Listed $84,975 IRMLS

Property tax history

-2.3%/yr

Latest (2024): $833 · -3.5% YoY. Source: county tax records.