1452 S 9th St · Terre Haute, IN 47802

$109,000

2 bd · 1.0 ba · 1,282 sqft · SingleFamily public records · 145 Days on market

Built 1889 5,227 sqft lot $85/sqft · 65% above area ↓ 16% since listing

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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
• DSCR +6.5/10.0
• 1% rule +4.6/10.0
• Livability +3.8/5.0
• Schools +2.9/10.0
• Rent growth +2.8/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

2 bedroom home that has been completely remodeled in 2021. Windows, siding, roof, electrical, full kitchen and bathroom. HVAC, light fixtures, water heater, gutters and downspouts.

Key facts

• Full kitchen
• New siding
• Completely remodeled

Tags

• COMPLETELY REMODELED
• FULL KITCHEN
• FULL BATHROOM
• NEW WINDOWS
• NEW SIDING
• NEW ROOF

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $109k.

Deal economics

• At list price, monthly cash flow is $144 ($2k/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 $105k (4.0% below list).
• Recommended offer: $96k (12.0% below list) — sets the bar for market timing.
• Cap rate 7.9% 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: Farrington Grove Elementary School (math 27% / reading 22%, grade F, #762 of 994 statewide, top 78%, 428 students, 92% FRL); Sarah Scott Middle School (math 8% / reading 18%, grade F, #304 of 330 statewide, top 94%, 397 students, 86% FRL); Terre Haute South Vigo High School (math 37% / reading 72%, grade C-, #79 of 369 statewide, top 26%, 1,610 students, 51% FRL) — zoned schools average 76% FRL vs 47% district-wide (29 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising (+1.2%/yr); 191 active listings in the ZIP; 8 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 $754 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

• It's been on market 145 days — a 12% lower offer ($96k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 3y 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.

Risks & watch-outs

• Watch-outs: built in 1889 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $95,920 (12.0% below list)

Questions for the listing agent

1. It's been on market 145 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1889 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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 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: 0.96% ✗
• Cap rate: 7.88%
• Cash-on-cash: 5.66%
• DSCR: 1.25
• GRM: 8.7

CMA / ARV

• ARV (median comp): $66,078
• List price: $109,000
• Delta: 64.96%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1525 S 8th St	0.14mi	3/1.0 (+1)	1,344 (+5%)	1mo	$130,000	$97	80
1805 S 6th St	0.43mi	2/1.0	1,260 (-2%)	7mo	$110,000	$87	72
1425 S 11th St	0.13mi	2/1.0	1,120 (-13%)	2mo	$82,500	$74	71
1816 S 7th St	0.34mi	2/1.0	1,151 (-10%)	1mo	$123,000	$107	66
1319 S 9th St	0.14mi	2/1.0	1,099 (-14%)	5mo	$30,000	$27	66
2228 S 8th St	0.61mi	2/1.0	1,330 (+4%)	2mo	$87,040	$65	64
1419 S 12th St	0.26mi	3/2.0 (+1)	1,146 (-11%)	4mo	$177,000	$154	58
1828 S 8th St	0.33mi	1/1.0 (-1)	1,093 (-15%)	6mo	$98,500	$90	50
1515 S 17th St	0.71mi	2/1.0	1,184 (-8%)	6mo	$105,000	$89	50
2301 S 8th St	0.64mi	2/1.0	1,113 (-13%)	0mo	$146,500	$132	48
1519 Cruft St	0.68mi	3/2.0 (+1)	1,400 (+9%)	7mo	$183,000	$131	38
1217 S 17th St	0.74mi	3/2.0 (+1)	1,419 (+11%)	7mo	$84,000	$59	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 · 1.23% rent growth · sell at horizon

5-year hold

• IRR: -9.4%
• Equity multiple: 0.66×
• Total profit: $-10,359
• Equity at exit: $16,252

10-year hold

• IRR: -2.4%
• Equity multiple: 0.85×
• Total profit: $-4,585
• Equity at exit: $9,424

Cash invested: $30,520 (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 47802

• Home prices YoY: -26.8%
• Rents YoY: 1.2%
• Active inventory: 191
• Price-to-rent: 8.7×

Monthly cashflow live

• Estimated rent: $1,046 high
• Mortgage (P&I): −$572
• Tax from tax record: −$65 /mo · $785/yr
• Insurance: −$45
• HOA: −$0
• Vacancy / Maint / Mgmt: −$220
• Net cashflow: $144

Break-even live

Break-even rent $864

Max offer price $109,000

Occupancy floor 81%

Sensitivity live

Price	-10% $206	-5% $175	+0% $144	+5% $113	+10% $82
Rent	-10% $61	-5% $103	+0% $144	+5% $185	+10% $226
Rate	-1.0pp $199	-0.5pp $172	base $144	+0.5pp $116	+1.0pp $87

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: $27,250
• Closing costs: $3,270
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1611 S 7th St Apt 4 Terre Haute, IN	2.0	1.0	1022	$795	$0.78	45d	1	0.22mi
1201 S 7th St Unit 3 Terre Haute, IN	3.0	1.0	880	$925	$1.05	45d	1	0.29mi
1011 S 4th St Terre Haute, IN	2.0	1.0	1268	$750	$0.59	45d	1	0.59mi
600 S Center St Unit 602 Terre Haute, IN	3.0	1.5	1500	$2,500	$1.67	45d	1	0.69mi
435 S 18th St Terre Haute, IN	3.0	1.0	1108	$1,050	$0.95	45d	1	1.07mi
501 S 19th St Terre Haute, IN	2.0	1.0	1200	$975	$0.81	45d	1	1.08mi
1915 Poplar St Unit A Terre Haute, IN	3.0	1.0	1412	$1,200	$0.85	45d	1	1.18mi
1701 Ohio St Unit C Terre Haute, IN	2.0	1.0	880	$950	$1.08	45d	1	1.22mi

Listing history 23 events

1. 2026-06-21
   days on market $109,000 Active 145 DOM
2. 2026-06-19
   days on market $109,000 Active 143 DOM
3. 2026-06-18
   days on market $109,000 Active 142 DOM
4. 2026-06-17
   days on market $109,000 Active 141 DOM
5. 2026-06-16
   days on market $109,000 Active 140 DOM
6. 2026-06-15
   days on market $109,000 Active 139 DOM
7. 2026-06-14
   days on market $109,000 Active 137 DOM
8. 2026-06-13
   days on market $109,000 Active 136 DOM
9. 2026-06-10
   days on market $109,000 Active 134 DOM
10. 2026-06-09
    days on market $109,000 Active 133 DOM
11. 2026-06-08
    days on market $109,000 Active 132 DOM
12. 2026-06-07
    days on market $109,000 Active 131 DOM
13. 2026-06-05
    days on market $109,000 Active 128 DOM
14. 2026-06-02
    days on market $109,000 Active 126 DOM
15. 2026-06-01
    days on market $109,000 Active 125 DOM
16. 2026-05-31
    days on market $109,000 Active 124 DOM
17. 2026-05-30
    days on market $109,000 Active 123 DOM
18. 2026-01-23
    listed $109,000 Active 181-char remark

    Show marketing remark (181 chars)

    2 bedroom home that has been completely remodeled in 2021. Windows, siding, roof, electrical, full kitchen and bathroom. HVAC, light fixtures, water heater, gutters and downspouts.

19. 2024-01-26
    status Pending
20. 2023-12-13
    price $123,900
21. 2023-11-14
    price $124,900
22. 2023-10-06
    listed $129,900 Active
23. 2022-01-14
    price $850

ⓘ 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: $785 · $65/mo
• Projected year-2 tax: $856 · $71/mo
• Expected delta: +$71/yr (+$6/mo · 9.0%)

ⓘ 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 3/10 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: $12,551
• − Mortgage interest: −$6,106
• − Property taxes: −$785
• − Insurance: −$545
• − Repairs & maintenance: −$1,004
• − Management: −$1,004
• − Depreciation: −$3,171
• Taxable loss: −$64
• Est. tax savings @ 24.0%: +$15
• After-tax cash flow: $1,741/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): 33,135
• Household income: $57,395
• Rent vs Own: 41.0% rent · 59.0% own
• Severe rent burden: 1102.0

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 (82%)
• Race & ethnicity: White 82% Black 8% Two or more races 5% Hispanic / Latino 3% Asian 3%
• Common ancestry: Lithuanian 3% Slovak 2% Serbian 2%
• Foreign-born: 3% · China, Canada
• Languages at home: 96% English-only · Spanish 1% Other Indo-European 1% Chinese 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: ▼ -67.05%
• Current HPI: 183.0194
• Rent YoY: ▲ 1.23%
• 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

-16.1% since first listed

6 events — show timeline

• 2026-01-23 Listed $109,000 THAAR
• 2024-01-26 Pending — THAAR
• 2023-12-13 Price Changed $123,900 THAAR
• 2023-11-14 Price Changed $124,900 THAAR
• 2023-10-06 Listed $129,900 THAAR
• 2022-01-14 Price Changed $850 RENT.

Property tax history

-6.8%/yr

Latest (2024): $785 · -49.7% YoY. Source: county tax records.