300 W Olive St · West Terre Haute, IN 47885

$24,000

3 bd · 1.0 ba · 1,395 sqft · SingleFamily public records · 71 Days on market

Built 1900 Est $32k · 25% under ↓ 52% since listing

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Why this score? — see what drove the B+ 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 +30.0/30.0
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +3.9/5.0
• Schools +2.9/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Affordable 3 Bedroom Home Near Indiana State University This 3 bedroom, 1 bathroom single-family home offers 1,395 square feet of living space and is located just 6 minutes from Indiana State University. The property is vacant, easy to show, and has utilities available for inspections. Light cleanup has already been completed, giving buyers a head start on any cosmetic updates. ARV: $90,00 - $115,000+. This makes it a strong option for investors, landlords, or buyers looking for an affordable home with upside potential. Property Highlights: - 3 bedrooms and 1 bathroom - 1,395 square feet - Vacant and ready for renovation - Low Indiana property taxes - Flexible layout with solid structure Ideal Uses: - Student rental near Indiana State University - Cash-flow rental property - Light cosmetic flip or wholetail project - Affordable owner-occupant purchase with room to add value Terms: - Sold AS-IS - Cash offers only - Preferred closing timeline is 7 to 14 days - Buyer pays closing costs Contact James at [757-604-9257 / JamesBeale90@gmail. com] for more information or to schedule a showing.

Key facts

• Flexible layout
• Solid structure
• Built 1900

Tags

• LOW INDIANA PROPERTY TAXES
• FLEXIBLE LAYOUT
• SOLID STRUCTURE

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $24k.

Deal economics

• At list price, monthly cash flow is $536 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($952 rent vs $24k).
• Recommended offer: $23k (6.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 77/100 on livability (#38 in IN, #2,999 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: employment D+, commute D, schools D-.
• 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.
• Market conditions: 44 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 $166 of loan paydown is wiped out by about $720 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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $7k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 71 days — a 6% lower offer ($23k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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.

Risks & watch-outs

• Watch-outs: property tax is 4.0% of price; built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $22,560 (6.0% below list)

Questions for the listing agent

1. It's been on market 71 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
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: 3.97% ✓
• Cap rate: 33.11%
• Cash-on-cash: 95.77%
• DSCR: 5.26
• GRM: 2.1

CMA / ARV

• ARV (on-the-fly): $32,085
• Comps found: 3

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
318 Edwards St	0.07mi	2/1.0 (-1)	1,200 (-14%)	2mo	$8,000	$7	66
702 S 6th St	0.24mi	2/1.0 (-1)	1,226 (-12%)	20mo	$28,000	$23	47
201 N Mcquilkin Pl	0.66mi	4/2.0 (+1)	1,376 (-1%)	14mo	$160,000	$116	46

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 96.7%
• Equity multiple: 5.51×
• Total profit: $30,315
• Equity at exit: $3,578

10-year hold

• IRR: 99.4%
• Equity multiple: 11.50×
• Total profit: $70,565
• Equity at exit: $2,075

Cash invested: $6,720 (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 47885

• Home prices YoY: -21.7%
• Active inventory: 44
• Price-to-rent: 2.1×

Monthly cashflow live

• Estimated rent: $952 medium
• Mortgage (P&I): −$126
• Tax from tax record: −$80 /mo · $960/yr
• Insurance: −$10
• HOA: −$0
• Vacancy / Maint / Mgmt: −$200
• Net cashflow: $536

Break-even live

Break-even rent $273

Max offer price $24,000

Occupancy floor 39%

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: $6,000
• Closing costs: $720
• Reserves months: —
• Total cash needed: —

Listing history 22 events

1. 2026-06-19
   days on market $24,000 Active 71 DOM
2. 2026-06-18
   days on market $24,000 Active 70 DOM
3. 2026-06-17
   days on market $24,000 Active 69 DOM
4. 2026-06-16
   days on market $24,000 Active 68 DOM
5. 2026-06-15
   days on market $24,000 Active 67 DOM
6. 2026-06-14
   days on market $24,000 Active 65 DOM
7. 2026-06-13
   days on market $24,000 Active 64 DOM
8. 2026-06-10
   days on market $24,000 Active 62 DOM
9. 2026-06-09
   days on market $24,000 Active 61 DOM
10. 2026-06-08
    days on market $24,000 Active 60 DOM
11. 2026-06-07
    days on market $24,000 Active 59 DOM
12. 2026-06-05
    days on market $24,000 Active 56 DOM
13. 2026-06-02
    days on market $24,000 Active 54 DOM
14. 2026-06-01
    days on market $24,000 Active 53 DOM
15. 2026-05-31
    days on market $24,000 Active 52 DOM
16. 2026-05-30
    days on market $24,000 Active 51 DOM
17. 2026-04-03
    listed $24,000 Active 1130-char remark

    Show marketing remark (1130 chars)

    Affordable 3 Bedroom Home Near Indiana State University This 3 bedroom, 1 bathroom single-family home offers 1,395 square feet of living space and is located just 6 minutes from Indiana State University. The property is vacant, easy to show, and has utilities available for inspections. Light cleanup has already been completed, giving buyers a head start on any cosmetic updates. ARV: $90,00 - $115,000+. This makes it a strong option for investors, landlords, or buyers looking for an affordable home with upside potential. Property Highlights: - 3 bedrooms and 1 bathroom - 1,395 square feet - Vacant and ready for renovation - Low Indiana property taxes - Flexible layout with solid structure Ideal Uses: - Student rental near Indiana State University - Cash-flow rental property - Light cosmetic flip or wholetail project - Affordable owner-occupant purchase with room to add value Terms: - Sold AS-IS - Cash offers only - Preferred closing timeline is 7 to 14 days - Buyer pays closing costs Contact James at [757-604-9257 / JamesBeale90@gmail. com] for more information or to schedule a showing.

18. 2026-01-16
    price $29,900
19. 2025-12-29
    price $33,900
20. 2025-12-12
    price $37,900
21. 2025-12-09
    price $38,900
22. 2025-12-04
    listed $49,900 Active

ⓘ 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: $960 · $80/mo
• Projected year-2 tax: $960 · $80/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 1/10 Low FEMA zone X · 0% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 4/10 Moderate 7 d/yr ≥105°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: $11,426
• − Mortgage interest: −$1,344
• − Property taxes: −$960
• − Insurance: −$120
• − Repairs & maintenance: −$914
• − Management: −$914
• − Depreciation: −$698
• Taxable income: $6,475
• Est. tax owed @ 24.0%: −$1,554
• After-tax cash flow: $4,882/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 — West Terre Haute

• Score: 77/100
• State rank: #38
• US rank: #2999

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: West Terre Haute, IN
• Population (ZIP): 9,287

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 (95%)
• Race & ethnicity: White 95% Two or more races 3% Black 2%
• Common ancestry: Romanian 3% Lithuanian 3% Iranian 2%
• Foreign-born: 1% · Canada
• Languages at home: 99% English-only · Spanish 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: ▼ -52.51%
• Current HPI: 189.7491
• Rent YoY: —
• Metro: —
• 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

-51.9% since first listed

6 events — show timeline

• 2026-04-03 Listed $24,000 FSBO.com
• 2026-01-16 Price Changed $29,900 IRMLS
• 2025-12-29 Price Changed $33,900 IRMLS
• 2025-12-12 Price Changed $37,900 IRMLS
• 2025-12-09 Price Changed $38,900 IRMLS
• 2025-12-04 Listed $49,900 IRMLS

Property tax history

+7.1%/yr

Latest (2024): $960 · +1.9% YoY. Source: county tax records.