2244 Park St · Terre Haute, IN 47803

$115,000

2 bd · 1.0 ba · 798 sqft · SingleFamily public records · 1 Days on market

Built 1932 5,227 sqft lot Est $89k · 30% over ↓ 10% since listing

---

Why this score? — see what drove the D- 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 +15.2/30.0
• DSCR +4.6/10.0
• 1% rule +4.2/10.0
• Livability +3.8/5.0
• Rent growth +3.5/5.0
• Schools +2.9/10.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks

The sale of this house is part of a portfolio sale.

Key facts

• 5,227 sq ft lot
• 2 garage spots
• Built 1932

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $115k.

Deal economics

• At list price, monthly cash flow is $39 ($469/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 $106k (7.7% below list).
• Recommended offer: $106k (7.7% below list) — sets the bar for 1% rule.
• Cap rate 6.7% vs local median 4.6% 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: Adelaide De Vaney Elementary Sch (math 62% / reading 47%, grade C, #197 of 994 statewide, top 22%, 437 students, 58% FRL); 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; 9 comparable units currently listed for rent nearby; rentals lingering (median 46d 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 $795 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 1 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts since 3y ago; this cycle's ask is 10168% above the opening price — seller raised mid-cycle; expect resistance to lowballs.

Risks & watch-outs

• Watch-outs: built in 1932 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $106,167 (7.7% below list)

Questions for the listing agent

1. Built in 1932 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. 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?
6. 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.
7. 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.
8. 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: 0.92% ✗
• Cap rate: 6.70%
• Cash-on-cash: 1.46%
• DSCR: 1.06
• GRM: 9.0

CMA / ARV

• ARV (on-the-fly): $88,578
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
433 S 25th St	0.33mi	2/1.0	760 (-5%)	2mo	$89,000	$117	75
2900 Franklin St	0.50mi	2/2.0	796 (-0%)	1mo	$165,000	$207	72
2209 Crawford St	0.12mi	2/1.0	739 (-7%)	14mo	$103,000	$139	70
2204 Seabury Ave	0.58mi	2/1.0	816 (+2%)	1mo	$90,000	$110	68
2703 Dean Ave	0.45mi	1/1.0 (-1)	790 (-1%)	5mo	$18,750	$24	68
1216 S 25th St	0.30mi	2/1.0	824 (+3%)	16mo	$90,000	$109	67
916 S 17 St	0.45mi	2/1.0	744 (-7%)	3mo	$82,500	$111	65
557 Monterey Ave	0.29mi	2/1.0	906 (+14%)	2mo	$110,000	$121	62
2379 Putnam	0.53mi	2/1.0	798 (0%)	18mo	$134,000	$168	60
613 S 15th St	0.62mi	1/1.0 (-1)	756 (-5%)	9mo	$22,000	$29	50
1029 S 17th St	0.49mi	2/1.0	890 (+12%)	22mo	$40,000	$45	40
3019 Washington Ave	0.65mi	1/1.0 (-1)	704 (-12%)	15mo	$69,500	$99	33

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: -12.7%
• Equity multiple: 0.54×
• Total profit: $-14,950
• Equity at exit: $17,147

10-year hold

• IRR: -2.1%
• Equity multiple: 0.85×
• Total profit: $-4,798
• Equity at exit: $9,943

Cash invested: $32,200 (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 47803

• Home prices YoY: -28.6%
• Rents YoY: 4.1%
• Active inventory: 177
• Price-to-rent: 9.0×

Monthly cashflow live

• Estimated rent: $1,062 high
• Mortgage (P&I): −$603
• Tax from tax record: −$149 /mo · $1,784/yr
• Insurance: −$48
• HOA: −$0
• Vacancy / Maint / Mgmt: −$223
• Net cashflow: $39

Break-even live

Break-even rent $1,012

Max offer price $115,000

Occupancy floor 91%

Sensitivity live

Price	-10% $104	-5% $72	+0% $39	+5% $7	+10% $-26
Rent	-10% $-45	-5% $-3	+0% $39	+5% $81	+10% $123
Rate	-1.0pp $97	-0.5pp $68	base $39	+0.5pp $9	+1.0pp $-21

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: $28,750
• Closing costs: $3,450
• Reserves months: —
• Total cash needed: —

Rent comps 9 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	45d	1	0.32mi
1320 S 19th St Terre Haute, IN	2.0	1.0	830	$700	$0.84	45d	1	0.46mi
435 S 18th St Terre Haute, IN	3.0	1.0	1108	$1,050	$0.95	45d	1	0.49mi
1701 Ohio St Unit C Terre Haute, IN	2.0	1.0	880	$950	$1.08	45d	1	0.67mi
1609 Ohio St Unit 1 Terre Haute, IN, USA Terre Haute, IN	1.0	1.0	700	$785	$1.12	45d	1	0.71mi
66 Pear Tree Ln Terre Haute, IN	2.0	1.0	868	$875	$1.01	45d	1	1.14mi
731 S 7th St Terre Haute, IN	1.0	1.0	700	$1,200	$1.71	45d	1	1.35mi
1201 S 7th St Unit 3 Terre Haute, IN	3.0	1.0	880	$925	$1.05	45d	1	1.37mi
1611 S 7th St Apt 4 Terre Haute, IN	2.0	1.0	1022	$795	$0.78	45d	1	1.49mi

Listing history 8 events

1. 2026-05-07
   historical $1,120
2. 2026-04-23
   listed $1,120
3. 2026-04-08
   status Pending
4. 2026-04-08
   listed $115,000 Active
5. 2026-01-10
   historical $1,120
6. 2025-12-06
   listed $1,120
7. 2023-12-20
   historical $1,250
8. 2023-12-01
   listed $1,250

ⓘ 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: $1,784 · $149/mo
• Projected year-2 tax: $1,784 · $149/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 6/10 Major FEMA zone X (unshaded) · 74% 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: $12,740
• − Mortgage interest: −$6,442
• − Property taxes: −$1,784
• − Insurance: −$575
• − Repairs & maintenance: −$1,019
• − Management: −$1,019
• − Depreciation: −$3,345
• Taxable loss: −$1,444
• Est. tax savings @ 24.0%: +$347
• After-tax cash flow: $816/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

-10.4% since first listed

8 events — show timeline

• 2026-05-07 Rental Removed $1,120 APPFOLIO
• 2026-04-23 Listed for Rent $1,120 APPFOLIO
• 2026-04-08 Pending — THAAR
• 2026-04-08 Listed $115,000 THAAR
• 2026-01-10 Rental Removed $1,120 APPFOLIO
• 2025-12-06 Listed for Rent $1,120 APPFOLIO
• 2023-12-20 Rental Removed $1,250 APPFOLIO
• 2023-12-01 Listed for Rent $1,250 APPFOLIO

Property tax history

+11.5%/yr

Latest (2024): $1,784 · +4.0% YoY. Source: county tax records.