Investing in Evansville, IN. Population trends.
I found two nice rental properties in Evansville, IN, south from the University of Evansville. The properties already produce very good cashflow, so I'm inclined to buy them. However, when I look at the stats, I see that the population of the town is slowly shrinking (about 0.5%/year since 1960s). Question to the people familiar with the area: should I be concerned and pass on the opportunities there? Do you see any reason for the trend to change (say, with aging population, hence, with more jobs for the local hospitals) or to accelerate?
Very much appreciate any opinions!