764 Cross St · Evansville, IN 47713

$105,000

2 bd · 1.0 ba · 1,143 sqft · SingleFamily public records · 43 Days on market

Built 2009 5,920 sqft lot Est $139k · 25% under

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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 +17.0/30.0
• ARV discount +15.0/15.0
• DSCR +5.3/10.0
• Rent growth +5.0/5.0
• 1% rule +4.6/10.0
• Schools +3.3/10.0
• Livability +3.2/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Attention Investors this is a package of 15 Properties. See the list on Addendum. 1011 Cherry St rents for $875.00. 1023 Cherry St rents for $973.00. 1105 E Gum St rents for $990.00. 1106/1108/1110 Rents for $2038.00. 1114 Cherry rents for $1050.00. 1130 S Grand rents for $983.00. 1219 S Linwood 2 units Rents for $1,720.00. 1301 & 1303 E Sycamore St Rents for $500.00 & 778.00 1712 Culverson rents for $990.00. 1829 Marshall rents for $801.00. 202 Waggoner Ave Rents for $788.00. 514 E Illinois Rents for $1,265.00. 764 Cross rents for $974.00. Total for package is 1,500.000

Key facts

• 5,920 sq ft lot
• Built 2009
• Listed 43 days

Property features AI

Exterior

• Utilities: Public water; Public sewer
• Home design: Single-family, site-built home; One story
• Construction: Vinyl siding; Slab foundation; Built as site-built construction
• Exterior features: Level lot; Lot dimensions approximately 50 x 126

Interior

• Bathrooms: One full bathroom (main level)
• Heating & cooling: Central air conditioning; Natural gas heating
• Interior features: Five total rooms; Main-level laundry
• Laundry & utility: Laundry on the main level

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $105k.

Deal economics

• At list price, monthly cash flow is $72 ($860/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $101k (3.6% below list).
• Recommended offer: $101k (3.6% below list) — sets the bar for 1% rule.
• Cap rate 7.1% 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: Glenwood Leadership Academy (math 10% / reading 12%, grade F, #909 of 994 statewide, top 92%, 416 students, 88% FRL) — zoned schools average 88% FRL vs 50% district-wide (38 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 11% at this address vs 40% district-wide (-28 pts) — the specific schools serving this property underperform the Evansville Vanderburgh School Corporation average; the district grade overstates school quality for this exact location.
• Market conditions: Rents rising fast (+9.9%/yr); 118 active listings in the ZIP; 21 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); lower-income renter base — watch delinquency; 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 $726 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 8.0% rent growth), your $29k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 43 days — a 3% lower offer ($102k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• 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 $101,238 (3.6% below list)

Questions for the listing agent

1. It's been on market 43 days. Have you received any prior offers? Is the seller open to a 4% concession, seller financing, or rate buy-down credit?
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: 0.96% ✗
• Cap rate: 7.11%
• Cash-on-cash: 2.92%
• DSCR: 1.13
• GRM: 8.6

CMA / ARV

• ARV (on-the-fly): $139,446
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1059 Waggoner Ave	0.50mi	2/2.0	1,150 (+1%)	1mo	$125,000	$109	70
1921 Shadewood Ave	0.14mi	3/1.0 (+1)	1,037 (-9%)	3mo	$135,000	$130	70
807 Prosperity Ave	0.34mi	2/1.5	1,232 (+8%)	0mo	$70,000	$57	69
711 Waggoner Ave	0.28mi	2/1.0	991 (-13%)	1mo	$45,000	$45	64
957 Taylor Ave	0.56mi	2/1.0	1,196 (+5%)	6mo	$159,900	$134	61
1903 S Kerth Ave	0.45mi	3/2.0 (+1)	1,214 (+6%)	5mo	$150,000	$124	56
1320 S Governor St	0.62mi	2/1.0	1,048 (-8%)	3mo	$32,500	$31	55
613 Madison Ave	0.69mi	3/1.0 (+1)	1,176 (+3%)	4mo	$165,000	$140	54
2006 Herbert Ave	0.70mi	3/1.0 (+1)	1,113 (-3%)	7mo	$85,000	$76	52
1101 Ravenswood Dr	0.62mi	2/1.0	1,269 (+11%)	1mo	$155,000	$122	52
329 Taylor Ave	0.54mi	2/1.0	1,021 (-11%)	6mo	$46,000	$45	52
1317 S Linwood Ave	0.56mi	2/1.5	975 (-15%)	4mo	$135,000	$138	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 · 8.0% rent growth · sell at horizon

5-year hold

• IRR: -6.2%
• Equity multiple: 0.76×
• Total profit: $-7,084
• Equity at exit: $15,656

10-year hold

• IRR: 8.7%
• Equity multiple: 1.82×
• Total profit: $24,127
• Equity at exit: $9,078

Cash invested: $29,400 (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 47713

• Home prices YoY: -34.1%
• Rents YoY: 9.9%
• Active inventory: 118
• Price-to-rent: 8.6×

Monthly cashflow live

• Estimated rent: $1,012 high
• Mortgage (P&I): −$551
• Tax from tax record: −$134 /mo · $1,605/yr
• Insurance: −$44
• HOA: −$0
• Vacancy / Maint / Mgmt: −$213
• Net cashflow: $72

Break-even live

Break-even rent $922

Max offer price $105,000

Occupancy floor 88%

Sensitivity live

Price	-10% $131	-5% $101	+0% $72	+5% $42	+10% $12
Rent	-10% $-8	-5% $32	+0% $72	+5% $112	+10% $152
Rate	-1.0pp $125	-0.5pp $98	base $72	+0.5pp $44	+1.0pp $17

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: $26,250
• Closing costs: $3,150
• Reserves months: —
• Total cash needed: —

Rent comps 21 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
715 E Riverside Dr Evansville, IN	2.0	1.0	806	$895	$1.11	21d	1	0.25mi
1421 SE 2nd St Unit A Evansville, IN	1.0	1.0	800	$695	$0.87	14d	1	0.71mi
605 Madison Ave Evansville, IN	2.0	1.0	1069	$1,375	$1.29	21d	1	0.72mi
1500 S Harlan Ave Evansville, IN	2.0	1.0	712	$900	$1.26	14d	1	0.83mi
1021 Jefferson Ave Evansville, IN	1.0	1.0	798	$795	$1.00	14d	1	0.85mi
17 Washington Ave Evansville, IN	2.0	1.0	882	$1,455	$1.65	21d	1	1.07mi
2340 Sunburst Blvd Unit 2200-202 Evansville, IN	3.0	1.0	973	$1,050	$1.08	21d	1	1.08mi
2340 Sunburst Blvd Unit 2270-318 Evansville, IN	2.0	1.0	815	$900	$1.10	21d	1	1.08mi
924 SE 6th St Unit A Evansville, IN	1.0	1.0	800	$875	$1.09	21d	1	1.09mi
1505 Jackson Ave Evansville, IN	2.0	1.0	780	$995	$1.28	21d	1	1.10mi
827 Judson St Evansville, IN	3.0	1.0	1008	$1,295	$1.28	14d	1	1.11mi
8 E Blackford Ave Evansville, IN	1.0	1.0	750	$825	$1.10	21d	1	1.15mi
734 Bayard Park Dr Evansville, IN	3.0	2.0	1000	$1,425	$1.43	21d	1	1.16mi
1133 Bayard Park Dr Unit B Evansville, IN	2.0	1.0	990	$800	$0.81	21d	1	1.25mi
1909 Plantation Ct Evansville, IN	2.0	1.0	780	$700	$0.90	21d	2	1.27mi
1604 Marbo Ave Evansville, IN	2.0	1.0	900	$1,095	$1.22	21d	1	1.28mi
1952 Colts Ln Evansville, IN	1.0–3.0	1.0	1146	$1,035	$0.90	21d	8	1.30mi
615 SE 3rd St Unit D Evansville, IN	1.0	1.0	1122	$895	$0.80	21d	1	1.31mi
1909 Taylor Ave Evansville, IN	2.0	1.0	700	$1,200	$1.71	14d	1	1.37mi
1762 Spring Ct Evansville, IN	2.0	1.0	975	$1,450	$1.49	21d	1	1.47mi
507 S Evans Ave Evansville, IN	2.0	1.0	750	$795	$1.06	21d	1	1.49mi

Listing history 15 events

1. 2026-06-18
   days on market $105,000 Active 43 DOM
2. 2026-06-17
   days on market $105,000 Active 42 DOM
3. 2026-06-16
   days on market $105,000 Active 41 DOM
4. 2026-06-15
   days on market $105,000 Active 40 DOM
5. 2026-06-14
   days on market $105,000 Active 38 DOM
6. 2026-06-13
   days on market $105,000 Active 37 DOM
7. 2026-06-10
   days on market $105,000 Active 35 DOM
8. 2026-06-09
   days on market $105,000 Active 34 DOM
9. 2026-06-08
   days on market $105,000 Active 33 DOM
10. 2026-06-07
    days on market $105,000 Active 32 DOM
11. 2026-06-02
    days on market $105,000 Active 27 DOM
12. 2026-06-01
    days on market $105,000 Active 26 DOM
13. 2026-05-31
    days on market $105,000 Active 25 DOM
14. 2026-05-30
    days on market $105,000 Active 24 DOM
15. 2026-05-05
    listed $105,000 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: $1,605 · $134/mo
• Projected year-2 tax: $1,605 · $134/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 · 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: $12,149
• − Mortgage interest: −$5,882
• − Property taxes: −$1,605
• − Insurance: −$525
• − Repairs & maintenance: −$972
• − Management: −$972
• − Depreciation: −$3,055
• Taxable loss: −$861
• Est. tax savings @ 24.0%: +$207
• After-tax cash flow: $1,067/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): 9,988
• Household income: $40,873
• Rent vs Own: 61.6% rent · 38.4% own
• Severe rent burden: 735.0

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: Diverse neighborhood (Simpson 0.60)
• Race & ethnicity: White 50% Black 39% Two or more races 7% Hispanic / Latino 3% Pacific Islander 1% Asian 1%
• Common ancestry: Romanian 2% Lithuanian 1% Italian 1%
• Foreign-born: 5% · Canada
• Languages at home: 96% English-only · Spanish 2% Tagalog/Filipino 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: ▼ -119.22%
• Current HPI: 229.9312
• Rent YoY: ▲ 9.87%
• 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

• 2026-05-05 Listed $105,000 IRMLS