2732 W Virginia St · Evansville, IN 47712

$85,000

2 bd · 1.0 ba · 1,030 sqft · SingleFamily public records · 28 Days on market

Built 1900 4,356 sqft lot Est $153k · 45% 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 +28.3/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +6.9/10.0
• Schools +3.3/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Completely remodeled 1.5-story on Evansville's West Side close to the popular Franklin Street, local restaurants, and shopping. Everything is NEW! Updated electrical, new light fixtures, replacement windows throughout, new upstairs ductwork, updated full bath with surrounding tile and new plumbing, new kitchen appliances, new side gate and fence, and so much more! Generous-sized living room with 10 ft. ceilings greet you upon entering the home and leads you down a hallway featuring wainscotting, and has access to the main floor bedroom. There is a family room/den or possible formal dining room which leads to a spacious kitchen with nice cabinets offering an abundance of storage. Washer/Dryer hook-up conveniently located in kitchen, and updated full bath completes the main level. Upstairs provides 2 additional bedrooms and an office area/ or bonus room/play area. Backyard access off of kitchen featuring a covered patio area perfect for enjoying cool summer evenings even in the rain! This West Side gem won't last long!

Key facts

• West side amenities
• As is property
• Shopping

Tags

• AS IS PROPERTY
• WEST SIDE AMENITIES
• SHOPPING
• DINING
• SCHOOLS

Property features AI

Exterior

• Utilities: Public water; Public sewer
• Home design: Single-family residence; Site-built home; Single-story
• Construction: Vinyl siding
• Exterior features: Level lot

Interior

• Kitchen: Refrigerator; Electric Range
• Bedrooms: Total of 6 rooms (bedroom count not specified)
• Flooring: Carpet; Tile
• Bathrooms: 1 full bathroom; 1 main level bathroom
• Heating & cooling: Central air conditioning; Natural gas heating
• Interior features: Refrigerator; Electric Range; Carpet flooring; Tile flooring; Crawl space basement
• Laundry & utility: Laundry on main level

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $85k.

Deal economics

• At list price, monthly cash flow is $272 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $85k).
• Recommended offer: $84k (1.5% below list) — sets the bar for market timing.
• Cap rate 10.1% 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: Tekoppel Elementary School (math 42% / reading 33%, grade F, #543 of 994 statewide, top 55%, 445 students, 73% FRL); Helfrich Park Stem Academy (math 36% / reading 47%, grade F, #108 of 330 statewide, top 34%, 517 students, 52% FRL); Francis Joseph Reitz High School (math 45% / reading 68%, grade C, #70 of 369 statewide, top 19%, 1,280 students, 44% FRL).
• Market conditions: 134 active listings in the ZIP; 11 comparable units currently listed for rent nearby; rentals leasing fast (median 14d on market — plan ~1-2 weeks tenant-placement turnaround); 508 units permitted in Vanderburgh County in 2024 (32 in 5+ unit buildings).
• This rent is only 18% of the median local income ($68k/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 $588 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $24k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 28 days — a 2% lower offer ($84k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 7y ago; this cycle's ask has dropped $15k (15%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $54k; list at $85k implies a 58% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1900 — 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 $83,725 (1.5% below list)

Questions for the listing agent

1. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
5. 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.
6. 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.
7. 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: 1.19% ✓
• Cap rate: 10.14%
• Cash-on-cash: 13.73%
• DSCR: 1.61
• GRM: 7.0

CMA / ARV

• ARV (on-the-fly): $153,470
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2740 W Franklin St	0.10mi	2/2.0	1,071 (+4%)	1mo	$151,320	$141	84
707 Wessel Ln	0.25mi	2/1.0	1,072 (+4%)	1mo	$137,000	$128	81
3103 W Virginia St	0.31mi	2/1.0	977 (-5%)	2mo	$185,000	$189	76
3209 Mount Vernon Ave	0.43mi	2/1.0	1,002 (-3%)	1mo	$128,750	$128	75
114 Rupper Ave	0.48mi	2/1.0	1,044 (+1%)	1mo	$176,000	$169	74
2622 Hillcrest Ter	0.44mi	3/1.0 (+1)	1,014 (-2%)	3mo	$179,900	$177	69
3213 Forest Ave	0.53mi	2/1.0	1,000 (-3%)	2mo	$184,000	$184	69
3306 Forest Ave	0.59mi	2/1.0	976 (-5%)	0mo	$85,000	$87	63
3008 W Michigan St	0.21mi	3/1.5 (+1)	1,144 (+11%)	2mo	$170,000	$149	63
3007 Forest Ave	0.40mi	2/1.0	908 (-12%)	1mo	$152,900	$168	61
3215 Forest Ave	0.53mi	3/1.5 (+1)	1,088 (+6%)	2mo	$135,000	$124	57
615 N 10th Ave	0.69mi	3/1.0 (+1)	1,077 (+5%)	1mo	$123,000	$114	54

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: 3.9%
• Equity multiple: 1.15×
• Total profit: $3,550
• Equity at exit: $12,674

10-year hold

• IRR: 13.4%
• Equity multiple: 2.06×
• Total profit: $25,337
• Equity at exit: $7,349

Cash invested: $23,800 (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 47712

• Home prices YoY: -32.1%
• Active inventory: 134
• Price-to-rent: 7.0×

Monthly cashflow live

• Estimated rent: $1,011 high
• Mortgage (P&I): −$446
• Tax from tax record: −$45 /mo · $545/yr
• Insurance: −$35
• HOA: −$0
• Vacancy / Maint / Mgmt: −$212
• Net cashflow: $272

Break-even live

Break-even rent $667

Max offer price $85,000

Occupancy floor 68%

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: $21,250
• Closing costs: $2,550
• Reserves months: —
• Total cash needed: —

Rent comps 11 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2708 W Franklin St Unit 4 Evansville, IN	2.0	1.0	1100	$900	$0.82	21d	1	0.17mi
2517 W Illinois St Evansville, IN	2.0	1.0	938	$960	$1.02	21d	1	0.31mi
406 Wills Ave Evansville, IN	2.0	1.0	832	$1,295	$1.56	13d	1	0.54mi
3308 Forest Ave Evansville, IN	1.0	1.0	900	$750	$0.83	13d	1	0.58mi
3200 Edgewood Dr Evansville, IN	2.0	1.0	720	$1,295	$1.80	13d	1	0.60mi
2727 Austin Ave Evansville, IN	2.0	1.0	952	$1,495	$1.57	21d	1	0.66mi
2102 W Delaware St Evansville, IN	3.0	1.0	1083	$925	$0.85	13d	1	0.68mi
1900 W Indiana St Evansville, IN	3.0	1.0	960	$995	$1.04	21d	1	0.89mi
409 S Bosse Ave Evansville, IN	2.0	1.0	1050	$985	$0.94	21d	1	1.20mi
360 S Rosenberger Ave Evansville, IN	1.0–2.0	1.0	710	$980	$1.38	13d	9	1.21mi
1306 W Missouri St Evansville, IN	2.0	1.0	800	$950	$1.19	13d	1	1.40mi

Listing history 18 events

1. 2026-06-18
   days on market $85,000 Active 28 DOM
2. 2026-06-17
   days on market $85,000 Active 27 DOM
3. 2026-06-16
   days on market $85,000 Active 26 DOM
4. 2026-06-15
   days on market $85,000 Active 25 DOM
5. 2026-06-14
   days on market $85,000 Active 23 DOM
6. 2026-06-13
   pricedays on market $85,000 Active 22 DOM
7. 2026-06-10
   days on market $90,000 Active 20 DOM
8. 2026-06-09
   days on market $90,000 Active 19 DOM
9. 2026-06-08
   days on market $90,000 Active 18 DOM
10. 2026-06-07
    days on market $90,000 Active 17 DOM
11. 2026-06-02
    pricedays on market $90,000 Active 12 DOM
12. 2026-06-01
    days on market $95,000 Active 11 DOM
13. 2026-05-31
    days on market $95,000 Active 10 DOM
14. 2026-05-30
    days on market $95,000 Active 9 DOM
15. 2026-05-21
    listed $100,000 Active
16. 2026-05-18
    listed $100,000 Active
17. 2019-11-19
    soldstatus $53,824 1032-char remark

    Show marketing remark (1032 chars)

    Completely remodeled 1.5-story on Evansville's West Side close to the popular Franklin Street, local restaurants, and shopping. Everything is NEW! Updated electrical, new light fixtures, replacement windows throughout, new upstairs ductwork, updated full bath with surrounding tile and new plumbing, new kitchen appliances, new side gate and fence, and so much more! Generous-sized living room with 10 ft. ceilings greet you upon entering the home and leads you down a hallway featuring wainscotting, and has access to the main floor bedroom. There is a family room/den or possible formal dining room which leads to a spacious kitchen with nice cabinets offering an abundance of storage. Washer/Dryer hook-up conveniently located in kitchen, and updated full bath completes the main level. Upstairs provides 2 additional bedrooms and an office area/ or bonus room/play area. Backyard access off of kitchen featuring a covered patio area perfect for enjoying cool summer evenings even in the rain! This West Side gem won't last long!

18. 2019-08-29
    listed $54,900 1032-char remark

    Show marketing remark (1032 chars)

    Completely remodeled 1.5-story on Evansville's West Side close to the popular Franklin Street, local restaurants, and shopping. Everything is NEW! Updated electrical, new light fixtures, replacement windows throughout, new upstairs ductwork, updated full bath with surrounding tile and new plumbing, new kitchen appliances, new side gate and fence, and so much more! Generous-sized living room with 10 ft. ceilings greet you upon entering the home and leads you down a hallway featuring wainscotting, and has access to the main floor bedroom. There is a family room/den or possible formal dining room which leads to a spacious kitchen with nice cabinets offering an abundance of storage. Washer/Dryer hook-up conveniently located in kitchen, and updated full bath completes the main level. Upstairs provides 2 additional bedrooms and an office area/ or bonus room/play area. Backyard access off of kitchen featuring a covered patio area perfect for enjoying cool summer evenings even in the rain! This West Side gem won't last long!

ⓘ 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: $545 · $45/mo
• Projected year-2 tax: $634 · $53/mo
• Expected delta: +$89/yr (+$7/mo · 16.3%)

ⓘ 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 4% 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: $12,136
• − Mortgage interest: −$4,761
• − Property taxes: −$545
• − Insurance: −$425
• − Repairs & maintenance: −$971
• − Management: −$971
• − Depreciation: −$2,473
• Taxable income: $1,990
• Est. tax owed @ 24.0%: −$478
• After-tax cash flow: $2,791/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): 25,444
• Household income: $68,494
• Rent vs Own: 34.6% rent · 65.4% own
• Severe rent burden: 797.0

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 (91%)
• Race & ethnicity: White 91% Two or more races 4% Hispanic / Latino 2% Black 2% Asian 2%
• Common ancestry: Romanian 3% Lithuanian 2% Italian 1%
• Foreign-born: 2% · China, Canada
• Languages at home: 97% English-only · Spanish 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: ▼ -101.86%
• Current HPI: 215.5153
• 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

+82.1% since first listed

4 events — show timeline

• 2026-05-21 Listed $100,000 IRMLS
• 2026-05-18 Listed $100,000 IRMLS
• 2019-11-19 Sold (MLS) $53,824 IRMLS
• 2019-08-29 Listed $54,900 IRMLS

Property tax history

-4.2%/yr

Latest (2024): $545 · +0.6% YoY. Source: county tax records.