327 Ridgeway Ave · Evansville, IN 47713

$90,000

2 bd · 1.0 ba · 767 sqft · SingleFamily public records · 145 Days on market

Built 1924 3,485 sqft lot Est $64k · 40% over ↓ 22% 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 +26.4/30.0
• DSCR +9.0/10.0
• 1% rule +6.4/10.0
• Rent growth +5.0/5.0
• Schools +3.3/10.0
• Livability +3.2/5.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to your move-in ready opportunity! This is a fully renovated 2-bedroom, 1-bath home with more amenities than you would expect. This property is a must-see for first-time buyers seeking a maintenance-free start or investors looking for an immediate income-producer. Step inside to a fresh, contemporary interior featuring new, durable luxury vinyl plank flooring and plush carpeting. Every detail has been thoughtfully updated, offering a true "unpack and enjoy" experience. It has a fenced-in front yard making it great for someone with pets. With a covered porch out front and a nice deck out back, it has plenty of outdoor space to enjoy. Its prime location offers easy access to

Key facts

• Covered porch
• Fully renovated
• Nice deck

Tags

• FULLY RENOVATED
• FENCED-IN FRONT YARD
• COVERED PORCH
• NICE DECK
• PRIME LOCATION
• BASKETBALL COURT

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $90k.

Deal economics

• At list price, monthly cash flow is $236 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $90k).
• Recommended offer: $79k (12.0% below list) — sets the bar for market timing.
• Cap rate 9.4% 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: 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: Rents rising fast (+9.9%/yr); 118 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); lower-income renter base — watch delinquency; 508 units permitted in Vanderburgh County in 2024 (32 in 5+ unit buildings).
• This rent runs 30% of the median local income ($41k/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 $622 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 $25k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 145 days — a 12% lower offer ($79k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 2y ago; this cycle's ask has dropped $5k (5%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1924 — 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 $79,200 (12.0% below list)

Questions for the listing agent

1. It's been on market 145 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 1924 — 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: 1.14% ✓
• Cap rate: 9.43%
• Cash-on-cash: 11.22%
• DSCR: 1.50
• GRM: 7.3

CMA / ARV

• ARV (on-the-fly): $64,428
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
327 Ridgeway Ave	0.00mi	2/1.0	767 (0%)	3mo	$82,500	$108	98
1663 S Elliott St	0.14mi	2/1.0	783 (+2%)	6mo	$90,000	$115	84
1771 Judson St	0.08mi	2/1.0	800 (+4%)	7mo	$50,000	$63	83
1525 SE Riverside Dr	0.37mi	2/1.0	800 (+4%)	7mo	$31,500	$39	69
637 Jackson Ave	0.46mi	2/1.5	800 (+4%)	1mo	$119,900	$150	69
609 Taylor Ave	0.37mi	2/1.0	840 (+10%)	5mo	$25,000	$30	62
321 Adams Ave	0.63mi	3/1.0 (+1)	800 (+4%)	3mo	$18,000	$23	56
820 Ridgeway Ave	0.45mi	2/1.0	660 (-14%)	10mo	$90,000	$136	48
2011 S New York Ave	0.75mi	1/1.0 (-1)	829 (+8%)	2mo	$35,000	$42	44
1425 SE Riverside Dr	0.45mi	2/1.0	672 (-12%)	19mo	$62,000	$92	42
1300 S Bedford Ave	0.71mi	2/1.0	861 (+12%)	5mo	$72,475	$84	42
727 Jackson Ave	0.54mi	3/2.0 (+1)	870 (+13%)	20mo	$42,500	$49	26

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: 5.6%
• Equity multiple: 1.23×
• Total profit: $5,807
• Equity at exit: $13,419

10-year hold

• IRR: 19.0%
• Equity multiple: 2.94×
• Total profit: $48,900
• Equity at exit: $7,782

Cash invested: $25,200 (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: 7.3×

Monthly cashflow live

• Estimated rent: $1,022 high
• Mortgage (P&I): −$472
• Tax from tax record: −$62 /mo · $749/yr
• Insurance: −$38
• HOA: −$0
• Vacancy / Maint / Mgmt: −$215
• Net cashflow: $236

Break-even live

Break-even rent $724

Max offer price $90,000

Occupancy floor 72%

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: $22,500
• Closing costs: $2,700
• Reserves months: —
• Total cash needed: —

Rent comps 25 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
715 E Riverside Dr Evansville, IN	2.0	1.0	806	$895	$1.11	20d	1	0.33mi
1421 SE 2nd St Unit A Evansville, IN	1.0	1.0	800	$695	$0.87	13d	1	0.35mi
1231 Culver Dr Unit C Evansville, IN	1.0	1.0	575	$625	$1.09	20d	1	0.46mi
605 Madison Ave Evansville, IN	2.0	1.0	1069	$1,375	$1.29	20d	1	0.54mi
17 Washington Ave Evansville, IN	2.0	1.0	882	$1,455	$1.65	20d	1	0.73mi
924 SE 6th St Unit A Evansville, IN	1.0	1.0	800	$875	$1.09	20d	1	0.77mi
8 E Blackford Ave Evansville, IN	1.0	1.0	750	$825	$1.10	20d	1	0.82mi
827 Judson St Evansville, IN	3.0	1.0	1008	$1,295	$1.28	13d	1	0.83mi
1021 Jefferson Ave Evansville, IN	1.0	1.0	798	$795	$1.00	13d	1	0.91mi
615 SE 3rd St Unit D Evansville, IN	1.0	1.0	1122	$895	$0.80	20d	1	0.96mi
734 Bayard Park Dr Evansville, IN	3.0	2.0	1000	$1,425	$1.43	20d	1	1.02mi
1500 S Harlan Ave Evansville, IN	2.0	1.0	712	$900	$1.26	13d	1	1.03mi
322 SE 1st St Evansville, IN	1.0–2.0	1.0	1100	$1,700	$1.55	20d	6	1.14mi
202 SE 1st St Evansville, IN	1.0–2.0	1.0	926	$2,449	$2.64	20d	4	1.25mi
1133 Bayard Park Dr Unit B Evansville, IN	2.0	1.0	990	$800	$0.81	20d	1	1.27mi
101 SE 2nd St Evansville, IN	1.0	1.0	530	$750	$1.42	13d	1	1.32mi
1505 Jackson Ave Evansville, IN	2.0	1.0	780	$995	$1.28	20d	1	1.32mi
100 SE 1st St Evansville, IN	1.0–2.0	1.0–2.0	715	$1,725	$2.41	13d	17	1.33mi
507 S Evans Ave Evansville, IN	2.0	1.0	750	$795	$1.06	20d	1	1.34mi
329 Main St Evansville, IN	1.0–2.0	1.0–2.0	717	$1,505	$2.10	13d	1	1.39mi
300 Main St Unit 1 D3 Evansville, IN	1.0	1.0	800	$2,000	$2.50	20d	1	1.42mi
2340 Sunburst Blvd Unit 2270-318 Evansville, IN	2.0	1.0	815	$900	$1.10	20d	1	1.47mi
2340 Sunburst Blvd Unit 2210-104 Evansville, IN	1.0	1.0	631	$785	$1.24	20d	1	1.47mi
2340 Sunburst Blvd Unit 2200-202 Evansville, IN	3.0	1.0	973	$1,050	$1.08	20d	1	1.47mi
24 NW 6th St Apt 103 Evansville, IN	1.0	1.0	706	$1,300	$1.84	20d	1	1.50mi

Listing history 6 events

1. 2026-02-25
   status Pending
2. 2026-01-08
   price $90,000
3. 2025-10-02
   listed $95,000 Active
4. 2024-11-22
   price $109,000
5. 2024-11-01
   listed $114,900 Active
6. 2022-07-18
   price $850

ⓘ 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: $749 · $62/mo
• Projected year-2 tax: $757 · $63/mo
• Expected delta: +$8/yr (+$1/mo · 1.1%)

ⓘ 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 · 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: $12,265
• − Mortgage interest: −$5,041
• − Property taxes: −$749
• − Insurance: −$450
• − Repairs & maintenance: −$981
• − Management: −$981
• − Depreciation: −$2,618
• Taxable income: $1,444
• Est. tax owed @ 24.0%: −$347
• After-tax cash flow: $2,480/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

-21.7% since first listed

6 events — show timeline

• 2026-02-25 Pending — IRMLS
• 2026-01-08 Price Changed $90,000 IRMLS
• 2025-10-02 Listed $95,000 IRMLS
• 2024-11-22 Price Changed $109,000 IRMLS
• 2024-11-01 Listed $114,900 IRMLS
• 2022-07-18 Price Changed $850 RENT.

Property tax history

+3.7%/yr

Latest (2024): $749 · +2.6% YoY. Source: county tax records.