2512 Farrington St · Terre Haute, IN 47803

$149,900

2 bd · 1.0 ba · 995 sqft · SingleFamily public records · 3 Days on market

Built 1924 Est $120k · 25% over

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Why this score? — see what drove the F 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 +10.1/30.0
• Livability +3.8/5.0
• Rent growth +3.5/5.0
• DSCR +2.9/10.0
• Schools +2.9/10.0
• Condition / age +2.5/5.0
• 1% rule +2.1/10.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

Adorable cottage! Character abounds throughout this lovely home. Upon your arrival you are greeted by the professionally landscaped lawn and red arched doorway. The living room with fireplace has an open feel to the spacious kitchen through the large arched doorway. There is an attractive breakfast nook large enough to seat the whole family. It has a split bedroom plan with 2 in the front and one in the back. This home has been lovingly remodeled and tastefully decorated within the past year to include new carpet, professional landscaping, new bathroom, Culligan water softener, trim and paint. The privacy fenced backyard includes a patio, as well as additional area for entertaining, garden and garage. There is additional parking in the back. Call Sharon Turpin at 812-878-8298 for your private showing.

Key facts

• Cozy living room
• Patio
• Fireplace

Tags

• COZY LIVING ROOM
• FIREPLACE
• SPACIOUS GALLEY KITCHEN
• OVERSIZED ARCHED OPENING
• PRIVATE FENCED BACKYARD
• PATIO

Property features AI

Exterior

• Parking: Detached 1-car garage
• Utilities: Public sewer
• Home design: Single-family residence; Single story
• Construction: Metal siding; Shingle roof
• Exterior features: Patio

Interior

• Kitchen: Electric range; Electric oven; Dishwasher; Refrigerator
• Flooring: Carpet
• Bathrooms: 1 full bathroom
• Heating & cooling: Electric heating
• Interior features: Fireplace (1); Full, unfinished basement
• Laundry & utility: Washer; Dryer; Water softener

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $150k.

Deal economics

• At list price, monthly cash flow is $-89 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $134k (10.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $106k (29.4% below list).
• Recommended offer: $106k (29.4% below list) — sets the bar for 1% rule.
• Cap rate 5.6% vs local median 4.7% in Terre Haute — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

Location & tenants

• Location reads 75/100 on livability (#63 in IN, #4,186 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: crime F, employment F.
• Vigo County School Corporation (urban): math 32% / reading 37% proficiency, ranked #202 of 301 in IN (top 67%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Woodrow Wilson Middle School (math 21% / reading 31%, grade F, #240 of 330 statewide, top 73%, 701 students, 62% FRL); Terre Haute South Vigo High School (math 37% / reading 72%, grade C-, #79 of 369 statewide, top 26%, 1,610 students, 51% FRL).
• Market conditions: Rents rising fast (+4.1%/yr); 177 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; 60 units permitted in Vigo County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Vigo County population projected to shrink 5% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.

Negotiation context

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 7y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $98k; list at $150k implies a 53% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1924 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $105,785 (29.4% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. Built in 1924 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
6. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 0.71% ✗
• Cap rate: 5.58%
• Cash-on-cash: -2.54%
• DSCR: 0.89
• GRM: 11.8

CMA / ARV

• ARV (on-the-fly): $120,395
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2800 Dean Ave	0.28mi	2/1.0	1,002 (+1%)	5mo	$110,500	$110	81
941 S 25th St	0.07mi	2/1.0	1,102 (+11%)	2mo	$115,000	$104	77
415 S 24th St	0.39mi	2/1.0	930 (-6%)	1mo	$85,000	$91	70
2107 College	0.42mi	2/2.0	1,040 (+4%)	0mo	$165,000	$159	69
2006 Park St	0.47mi	2/1.0	957 (-4%)	8mo	$109,900	$115	65
3105 Washington Ave	0.48mi	2/1.0	1,062 (+7%)	3mo	$45,000	$42	64
2341 S Seabury Ave	0.56mi	2/1.5	1,040 (+4%)	2mo	$149,500	$144	63
557 Monterey Ave	0.48mi	2/1.0	906 (-9%)	1mo	$110,000	$121	61
552 Monterey Ave	0.48mi	2/1.0	1,080 (+8%)	3mo	$147,000	$136	61
2645 Hulman St	0.59mi	2/1.0	945 (-5%)	4mo	$118,000	$125	61
508 S 20th St	0.55mi	2/1.0	1,053 (+6%)	7mo	$138,900	$132	59
1805 Park St	0.60mi	2/1.0	922 (-7%)	7mo	$79,900	$87	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 · 4.09% rent growth · sell at horizon

5-year hold

• IRR: -19.5%
• Equity multiple: 0.31×
• Total profit: $-28,821
• Equity at exit: $22,351

10-year hold

• IRR: -10.4%
• Equity multiple: 0.34×
• Total profit: $-27,667
• Equity at exit: $12,961

Cash invested: $41,972 (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 47803

• Home prices YoY: -28.6%
• Rents YoY: 4.1%
• Active inventory: 177
• Price-to-rent: 11.8×

Monthly cashflow live

• Estimated rent: $1,058 high
• Mortgage (P&I): −$786
• Tax from tax record: −$76 /mo · $911/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$222
• Net cashflow: $-89

Break-even live

Break-even rent $1,170

Max offer price $134,226

Occupancy floor —

Sensitivity live

Price	-10% $-4	-5% $-46	+0% $-89	+5% $-131	+10% $-174
Rent	-10% $-172	-5% $-131	+0% $-89	+5% $-47	+10% $-5
Rate	-1.0pp $-13	-0.5pp $-51	base $-89	+0.5pp $-128	+1.0pp $-167

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: $37,475
• Closing costs: $4,497
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
433 S 25th St Terre Haute, IN	2.0	1.0	760	$995	$1.31	44d	1	0.35mi
1320 S 19th St Terre Haute, IN	2.0	1.0	830	$700	$0.84	44d	1	0.60mi
435 S 18th St Terre Haute, IN	3.0	1.0	1108	$1,050	$0.95	44d	1	0.71mi
1701 Ohio St Unit C Terre Haute, IN	2.0	1.0	880	$950	$1.08	44d	1	0.87mi
1609 Ohio St Unit 1 Terre Haute, IN, USA Terre Haute, IN	1.0	1.0	700	$785	$1.12	44d	1	0.91mi
66 Pear Tree Ln Terre Haute, IN	2.0	1.0	868	$875	$1.01	44d	1	0.93mi

Listing history 4 events

1. 2026-05-14
   status Pending
2. 2026-05-11
   listed $149,900 Active
3. 2019-07-17
   soldstatus $97,900 812-char remark

   Show marketing remark (812 chars)

   Adorable cottage! Character abounds throughout this lovely home. Upon your arrival you are greeted by the professionally landscaped lawn and red arched doorway. The living room with fireplace has an open feel to the spacious kitchen through the large arched doorway. There is an attractive breakfast nook large enough to seat the whole family. It has a split bedroom plan with 2 in the front and one in the back. This home has been lovingly remodeled and tastefully decorated within the past year to include new carpet, professional landscaping, new bathroom, Culligan water softener, trim and paint. The privacy fenced backyard includes a patio, as well as additional area for entertaining, garden and garage. There is additional parking in the back. Call Sharon Turpin at 812-878-8298 for your private showing.

4. 2019-06-08
   listed $97,900 812-char remark

   Show marketing remark (812 chars)

   Adorable cottage! Character abounds throughout this lovely home. Upon your arrival you are greeted by the professionally landscaped lawn and red arched doorway. The living room with fireplace has an open feel to the spacious kitchen through the large arched doorway. There is an attractive breakfast nook large enough to seat the whole family. It has a split bedroom plan with 2 in the front and one in the back. This home has been lovingly remodeled and tastefully decorated within the past year to include new carpet, professional landscaping, new bathroom, Culligan water softener, trim and paint. The privacy fenced backyard includes a patio, as well as additional area for entertaining, garden and garage. There is additional parking in the back. Call Sharon Turpin at 812-878-8298 for your private showing.

ⓘ 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: $911 · $76/mo
• Projected year-2 tax: $1,092 · $91/mo
• Expected delta: +$182/yr (+$15/mo · 20.0%)

ⓘ 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 (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 4/10 Moderate 7 d/yr ≥104°F today · 19 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $12,694
• − Mortgage interest: −$8,397
• − Property taxes: −$911
• − Insurance: −$750
• − Repairs & maintenance: −$1,016
• − Management: −$1,016
• − Depreciation: −$4,361
• Taxable loss: −$3,754
• Est. tax savings @ 24.0%: +$901
• After-tax cash flow: $-164/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: Vigo County School Corporation
• NCES district ID: 1812090
• Math proficiency: 32% ▼ -10.00%
• Reading proficiency: 37% ▼ -8.00%
• Median HH income: $40,100
• Composite: 28.97/100
• National rank: #6625
• State rank: #202 of 301 in IN

Livability — Terre Haute

• Score: 75/100
• State rank: #63
• US rank: #4186

Category grades

Amenities A Commute A- Cost of living A+ Crime F Employment F Housing A+ Health & safety A+ User ratings D-

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Terre Haute, IN
• County: Vigo County · 91,193 people
• City population: 91,193
• Metro: Terre Haute, IN
• Population (ZIP): 21,746
• Household income: $60,565
• Rent vs Own: 30.9% rent · 69.1% own
• Severe rent burden: 571.0

Population outlook (Vigo County) Hauer SSP2

• Today (2025): 106,366 people
• By 2030: 105,674 · -0.7%
• By 2040: 103,731 · -2.5%
• By 2050: 101,200 · -4.9%
• By 2075: 95,674 · -10.1%
• By 2100: 85,910 · -19.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (86%)
• Race & ethnicity: White 86% Asian 5% Two or more races 4% Black 3% Hispanic / Latino 3%
• Common ancestry: Slovak 2% Lithuanian 2% Italian 1%
• Foreign-born: 5% · China, Canada
• Languages at home: 94% English-only · Chinese 2% Spanish 1% Other Asian/Pacific 1%

Political lean MEDSL · Vigo

• 2024 margin: R (+18.1) · D 40.0% · R 58.1% · Other 2.0%
• 2008→2024 swing: -33.9pp toward R · 2008: 15.8pp · 2024: -18.1pp
• All cycles: 2024: R+18.1 2020: R+14.7 2016: R+15.2 2012: D+0.8 2008: D+15.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -69.70%
• Current HPI: 173.6547
• Rent YoY: ▲ 4.09%
• Metro: Terre Haute, IN
• 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

+53.1% since first listed

4 events — show timeline

• 2026-05-14 Pending — THAAR
• 2026-05-11 Listed $149,900 THAAR
• 2019-07-17 Sold (MLS) $97,900 THAAR
• 2019-06-08 Listed $97,900 THAAR

Property tax history

+5.4%/yr

Latest (2024): $911 · +4.1% YoY. Source: county tax records.