4 Heritage Dr · Terre Haute, IN 47803

$94,900

2 bd · 1.0 ba · 8,260 sqft · Condo public records · 12 Days on market

Built 1968

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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 +20.5/30.0
• ARV discount +7.5/15.0
• 1% rule +7.3/10.0
• DSCR +6.5/10.0
• Livability +3.8/5.0
• Rent growth +3.5/5.0
• Schools +2.9/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Care free condominium living awaits you in this ground floor, 2 bedroom condo. Enjoy the spacious shady front yard or the open patio off the LR. Features updated interior trim, doors, kitchen cabinetry, solid service counter tops, some laminate flooring, water heater (2018) and central air (spring 2020). A fresh coat of paint & some new flooring is about all you need to do here. Note-additional storage is in the hallway closet. Coin-op laundry facilities are in the building's South hallway. A deeded carport for parking is only steps out your back sliding doors (#4). Just a few blocks from Baesler's Market & Meadows Mall. Monthly HOA fee is $197 which includes water, sewer, trash removal, lawn care, snow removal & maintenance reserve. Call a Realtor today to see inside.

Key facts

• Huge pantry
• New ceiling fan
• Updated trim

Tags

• GROUND FLOOR
• UPDATED TRIM
• SOLID WOODEN CABINETS
• HUGE PANTRY
• NEW CEILING FAN
• NEW KOHLER TOILET

Property features AI

Exterior

• Parking: Detached paved garage with 1 garage space
• Security: Smoke detector(s)
• Utilities: Public sewer
• Home design: Single-family residence; Single-story
• Construction: Aluminum siding and brick exterior; Shingle roof
• Exterior features: Covered patio

Interior

• Kitchen: Electric range, electric oven, microwave, refrigerator
• Flooring: Ceramic tile; Laminate
• Bathrooms: 1 full bathroom
• Heating & cooling: Central air; Ceiling fan(s); Forced air heating; Natural gas heating
• Interior features: Electric range, electric oven, microwave, refrigerator; Ceramic tile and laminate flooring

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $95k.

Deal economics

• At list price, monthly cash flow is $126 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $95k).
• Cap rate 7.9% vs local median 4.7% in Terre Haute — 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 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 North Vigo High School (math 25% / reading 62%, grade F, #191 of 369 statewide, top 52%, 1,507 students, 51% FRL).
• Market conditions: Rents rising fast (+4.1%/yr); 177 active listings in the ZIP; 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 $656 of loan paydown is wiped out by about $3k 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 12 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 5y 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 $62k; list at $95k implies a 52% gain — meaningful room to come down on a strong offer.

Recommended offer $94,900

Questions for the listing agent

1. Built in 1968 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.23% ✓
• Cap rate: 7.88%
• Cash-on-cash: 5.68%
• DSCR: 1.25
• GRM: 6.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 4.09% rent growth · sell at horizon

5-year hold

• IRR: -6.0%
• Equity multiple: 0.78×
• Total profit: $-5,965
• Equity at exit: $14,150

10-year hold

• IRR: 5.3%
• Equity multiple: 1.41×
• Total profit: $10,978
• Equity at exit: $8,205

Cash invested: $26,572 (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: 6.8×

Monthly cashflow live

• Estimated rent: $1,167 medium
• Mortgage (P&I): −$498
• Tax from tax record: −$39 /mo · $469/yr
• Insurance: −$40
• HOA est. from 2 same-building comps: −$220
• Vacancy / Maint / Mgmt: −$245
• Net cashflow: $126

Break-even live

Break-even rent $1,008

Max offer price $94,900

Occupancy floor 84%

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: $23,725
• Closing costs: $2,847
• Reserves months: —
• Total cash needed: —

HOA detail condo

• Monthly dues: $0 · $0/yr
• Likely covers: watersewertrashlandscapingsnow removal
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 11 events

1. 2026-06-09
   statusdays on market $94,900 Pending 12 DOM
2. 2026-06-08
   days on market $94,900 Active 11 DOM
3. 2026-06-07
   days on market $94,900 Active 10 DOM
4. 2026-06-05
   days on market $94,900 Active 7 DOM
5. 2026-06-02
   days on market $94,900 Active 5 DOM
6. 2026-06-01
   days on market $94,900 Active 4 DOM
7. 2026-05-31
   days on market $94,900 Active 3 DOM
8. 2026-05-30
   days on market $94,900 Active 2 DOM
9. 2026-05-25
   listed $94,900 Active
10. 2021-08-31
    soldstatus $62,500 797-char remark

    Show marketing remark (797 chars)

    Care free condominium living awaits you in this ground floor, 2 bedroom condo. Enjoy the spacious shady front yard or the open patio off the LR. Features updated interior trim, doors, kitchen cabinetry, solid service counter tops, some laminate flooring, water heater (2018) and central air (spring 2020). A fresh coat of paint & some new flooring is about all you need to do here. Note-additional storage is in the hallway closet. Coin-op laundry facilities are in the building's South hallway. A deeded carport for parking is only steps out your back sliding doors (#4). Just a few blocks from Baesler's Market & Meadows Mall. Monthly HOA fee is $197 which includes water, sewer, trash removal, lawn care, snow removal & maintenance reserve. Call a Realtor today to see inside.

11. 2021-07-12
    listed $62,500 797-char remark

    Show marketing remark (797 chars)

    Care free condominium living awaits you in this ground floor, 2 bedroom condo. Enjoy the spacious shady front yard or the open patio off the LR. Features updated interior trim, doors, kitchen cabinetry, solid service counter tops, some laminate flooring, water heater (2018) and central air (spring 2020). A fresh coat of paint & some new flooring is about all you need to do here. Note-additional storage is in the hallway closet. Coin-op laundry facilities are in the building's South hallway. A deeded carport for parking is only steps out your back sliding doors (#4). Just a few blocks from Baesler's Market & Meadows Mall. Monthly HOA fee is $197 which includes water, sewer, trash removal, lawn care, snow removal & maintenance reserve. Call a Realtor today to see inside.

ⓘ 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: $469 · $39/mo
• Projected year-2 tax: $638 · $53/mo
• Expected delta: +$169/yr (+$14/mo · 36.0%)

ⓘ 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: $14,007
• − Mortgage interest: −$5,316
• − Property taxes: −$469
• − Insurance: −$474
• − Repairs & maintenance: −$1,121
• − Management: −$1,121
• − HOA: −$2,640
• − Depreciation: −$2,761
• Taxable income: $106
• Est. tax owed @ 24.0%: −$25
• After-tax cash flow: $1,485/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

+51.8% since first listed

3 events — show timeline

• 2026-05-25 Listed $94,900 THAAR
• 2021-08-31 Sold (MLS) $62,500 THAAR
• 2021-07-12 Listed $62,500 THAAR

Property tax history

-4.6%/yr

Latest (2024): $469 · +1.9% YoY. Source: county tax records.