2331 4th Ave · Terre Haute, IN 47807

$90,000

3 bd · 1.0 ba · 2,304 sqft · SingleFamily public records · 18 Days on market

Built 1907 Est $101k · 11% under

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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 +24.9/30.0
• ARV discount +12.5/15.0
• DSCR +8.1/10.0
• Appreciation +7.1/10.0
• 1% rule +5.9/10.0
• Livability +3.8/5.0
• Rent growth +3.4/5.0
• Schools +2.9/10.0
• Condition / age +2.5/5.0

Listing remarks

Family home with a fenced in back yard and looking for its new owners!

Key facts

• Fenced in back yard
• Built 1907
• Listed 17 days

Tags

• FENCED IN BACK YARD

Property features AI

Exterior

• Home design: Built in 1907
• Construction: Original construction from 1907
• Exterior features: Located in the Spencer Park subdivision

Interior

• Interior features: Historic character (built in 1907)

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $90k.

Deal economics

• At list price, monthly cash flow is $193 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($978 rent vs $90k).
• Recommended offer: $89k (1.5% below list) — sets the bar for market timing.
• Cap rate 8.9% 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: schools D-, 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.
• Market conditions: Rents rising (+3.7%/yr); 78 active listings in the ZIP; 4 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; lower-income renter base — watch delinquency; 60 units permitted in Vigo County in 2024 (0 in 5+ unit buildings).
• At $978/mo this rent would consume 47% of the median local household income ($25k/yr) (locally 1836% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• In year one you build about $4k of equity ($622 loan paydown + $4k appreciation (4.1% local appreciation)).
• Vigo County population projected to shrink 5% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (4.1% appreciation + 3.7% rent growth), your $25k cash investment doubles in ~4 years — after that, you're playing with house money.
• By year 8, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 18 days — a 2% lower offer ($89k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1907 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $88,650 (1.5% below list)

Questions for the listing agent

1. Built in 1907 — 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. 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.
6. 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.
7. 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: 1.09% ✓
• Cap rate: 8.86%
• Cash-on-cash: 9.17%
• DSCR: 1.41
• GRM: 7.7

CMA / ARV

• ARV (on-the-fly): $101,376
• Comps found: 6

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2205 5th Ave	0.18mi	3/2.0	2,300 (-0%)	4mo	$99,000	$43	83
1954 N 26th St	0.57mi	3/1.0	2,372 (+3%)	1mo	$184,000	$78	68
2012 1st Ave	0.29mi	3/1.0	2,054 (-11%)	1mo	$33,500	$16	68
1949 Beech St	0.48mi	2/1.0 (-1)	2,360 (+2%)	13mo	$104,000	$44	58
2004 N 21st St	0.62mi	3/1.0	2,520 (+9%)	8mo	$68,000	$27	49
2811 Fenwood Ave	0.59mi	2/1.0 (-1)	2,000 (-13%)	11mo	$92,000	$46	36

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

4.14% appreciation · 3.74% rent growth · sell at horizon

5-year hold

• IRR: 19.2%
• Equity multiple: 2.17×
• Total profit: $29,383
• Equity at exit: $46,382

10-year hold

• IRR: 20.0%
• Equity multiple: 4.25×
• Total profit: $81,965
• Equity at exit: $76,466

Cash invested: $25,200 (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 47807

• Home prices YoY: 2.8%
• Rents YoY: 3.7%
• Active inventory: 78
• Price-to-rent: 7.7×

Monthly cashflow live

• Estimated rent: $978 medium
• Mortgage (P&I): −$472
• Tax from tax record: −$70 /mo · $843/yr
• Insurance: −$38
• HOA: −$0
• Vacancy / Maint / Mgmt: −$205
• Net cashflow: $193

Break-even live

Break-even rent $734

Max offer price $90,000

Occupancy floor 75%

Sensitivity live

Price	-10% $243	-5% $218	+0% $193	+5% $167	+10% $142
Rent	-10% $115	-5% $154	+0% $193	+5% $231	+10% $270
Rate	-1.0pp $238	-0.5pp $215	base $193	+0.5pp $169	+1.0pp $145

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: $22,500
• Closing costs: $2,700
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2206 2nd Ave Terre Haute, IN	2.0	1.0	1664	$785	$0.47	45d	1	0.20mi
1728 N 24th St Terre Haute, IN	4.0	2.0	1922	$1,035	$0.54	44d	1	0.40mi
124 N Fruitridge Ave Terre Haute, IN	3.0	1.0	1891	$950	$0.50	44d	1	1.21mi
2116 Poplar St Terre Haute, IN	4.0	1.5	1872	$1,900	$1.01	44d	1	1.24mi

Listing history 13 events

1. 2026-06-16
   days on market $90,000 Active 18 DOM
2. 2026-06-15
   days on market $90,000 Active 17 DOM
3. 2026-06-14
   days on market $90,000 Active 15 DOM
4. 2026-06-13
   days on market $90,000 Active 14 DOM
5. 2026-06-10
   days on market $90,000 Active 12 DOM
6. 2026-06-09
   days on market $90,000 Active 11 DOM
7. 2026-06-08
   days on market $90,000 Active 10 DOM
8. 2026-06-07
   days on market $90,000 Active 9 DOM
9. 2026-06-05
   days on market $90,000 Active 6 DOM
10. 2026-06-02
    days on market $90,000 Active 4 DOM
11. 2026-06-01
    days on market $90,000 Active 3 DOM
12. 2026-05-31
    days on market $90,000 Active 2 DOM
13. 2026-05-30
    listed $90,000 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: $843 · $70/mo
• Projected year-2 tax: $843 · $70/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 4/10 Moderate FEMA zone X (unshaded) · 22% 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: $11,731
• − Mortgage interest: −$5,041
• − Property taxes: −$843
• − Insurance: −$450
• − Repairs & maintenance: −$938
• − Management: −$938
• − Depreciation: −$2,618
• Taxable income: $901
• Est. tax owed @ 24.0%: −$216
• After-tax cash flow: $2,094/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): 13,140
• Household income: $24,706
• Rent vs Own: 73.5% rent · 26.5% own
• Severe rent burden: 1836.0

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 (74%)
• Race & ethnicity: White 74% Black 14% Two or more races 8% Hispanic / Latino 4%
• Common ancestry: Slovak 4% Romanian 2% Lithuanian 1%
• Foreign-born: 3% · Canada
• Languages at home: 94% English-only · Spanish 4% Arabic 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: ▲ 4.14%
• Current HPI: 152.8073
• Rent YoY: ▲ 3.74%
• 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

1 event — show timeline

• 2026-05-30 Listed $90,000 FSBO.com

Property tax history

-5.9%/yr

Latest (2024): $843 · +4.8% YoY. Source: county tax records.