2004 E Wheeler Ave · Terre Haute, IN 47802

$84,999

3 bd · 1.0 ba · 1,134 sqft · SingleFamily public records · 14 Days on market

Built 1910 0.64 ac lot

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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 +6.5/10.0
• DSCR +6.5/10.0
• 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

Key facts

• 0.64 acre lot
• 2 garage spots
• Built 1910

Property features AI

Exterior

• Parking: Detached 2-car garage (approximately 418 sq ft)
• Security: Smoke detectors
• Utilities: Public water; Municipal sewer connected
• Home design: Single-family residence; One level
• Construction: Brick and vinyl siding exterior; Block foundation
• Exterior features: Half- to one-acre lot (about 0.64 acre); Has a view

Interior

• Kitchen: Water heater (appliance listed)
• Bedrooms: 3 bedrooms on the main level
• Bathrooms: 1 full bathroom on the main level
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: Attic access; Interior-entry basement; Has basement

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $85k.

Deal economics

• At list price, monthly cash flow is $112 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($979 rent vs $85k).
• 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: 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 (+1.2%/yr); 187 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals lingering (median 44d 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 $587 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 14 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: property tax is 2.5% of price; built in 1910 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $84,999

Questions for the listing agent

1. Built in 1910 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
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: 1.15% ✓
• Cap rate: 7.87%
• Cash-on-cash: 5.65%
• DSCR: 1.25
• GRM: 7.2

CMA / ARV

• ARV (on-the-fly): $187,110
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2510 Kings Ct	0.13mi	3/2.0	1,158 (+2%)	4mo	$194,622	$168	83
2447 Kings Ct	0.18mi	3/2.0	1,168 (+3%)	0mo	$203,000	$174	82
2391 Kings Ct	0.23mi	3/2.0	1,168 (+3%)	9mo	$200,000	$171	73
2939 S 13th St	0.60mi	2/1.0 (-1)	1,144 (+1%)	2mo	$109,900	$96	64
3123 S 21st St	0.29mi	3/1.0	1,000 (-12%)	6mo	$195,000	$195	62
1903 Grant St	0.53mi	3/1.0	1,120 (-1%)	14mo	$105,000	$94	62
2020 Morton St	0.44mi	3/1.5	1,230 (+8%)	3mo	$162,500	$132	61
2259 Morton St	0.43mi	2/2.0 (-1)	1,216 (+7%)	0mo	$206,400	$170	58
1158 Helen Ave	0.65mi	2/1.0 (-1)	1,200 (+6%)	1mo	$23,500	$20	54
1941 S 21st St	0.64mi	3/1.0	1,208 (+6%)	7mo	$153,000	$127	54
2716 S 26th St	0.51mi	2/1.0 (-1)	1,103 (-3%)	18mo	$60,000	$54	51
1908 S 23rd St	0.73mi	2/2.0 (-1)	1,072 (-6%)	0mo	$176,852	$165	48

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: -9.7%
• Equity multiple: 0.65×
• Total profit: $-8,295
• Equity at exit: $12,674

10-year hold

• IRR: -3.1%
• Equity multiple: 0.81×
• Total profit: $-4,581
• Equity at exit: $7,349

Cash invested: $23,800 (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: 187
• Price-to-rent: 7.2×

Monthly cashflow live

• Estimated rent: $979 medium
• Mortgage (P&I): −$446
• Tax from tax record: −$180 /mo · $2,162/yr
• Insurance: −$35
• HOA: −$0
• Vacancy / Maint / Mgmt: −$206
• Net cashflow: $112

Break-even live

Break-even rent $837

Max offer price $84,999

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: $21,250
• Closing costs: $2,550
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2440 S 11th St Terre Haute, IN	2.0	1.0	800	$1,000	$1.25	43d	1	0.82mi
1320 S 19th St Terre Haute, IN	2.0	1.0	830	$700	$0.84	43d	1	1.18mi
1611 S 7th St Apt 4 Terre Haute, IN	2.0	1.0	1022	$795	$0.78	43d	1	1.40mi
4258 S Kian St Terre Haute, IN	2.0	1.0	850	$795	$0.94	43d	1	1.44mi

Listing history 6 events

1. 2026-06-05
   statusdays on market $84,999 Pending 14 DOM
2. 2026-06-02
   days on market $84,999 Active 13 DOM
3. 2026-06-01
   days on market $84,999 Active 12 DOM
4. 2026-05-31
   days on market $84,999 Active 11 DOM
5. 2026-05-30
   days on market $84,999 Active 10 DOM
6. 2026-05-20
   listed $89,999 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: $2,162 · $180/mo
• Projected year-2 tax: $2,162 · $180/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 (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 4/10 Moderate 7 d/yr ≥104°F today · 18 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $11,746
• − Mortgage interest: −$4,761
• − Property taxes: −$2,162
• − Insurance: −$425
• − Repairs & maintenance: −$940
• − Management: −$940
• − Depreciation: −$2,473
• Taxable income: $46
• Est. tax owed @ 24.0%: −$11
• After-tax cash flow: $1,333/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

1 event — show timeline

• 2026-05-20 Listed $89,999 MIBOR as Distributed by MLS Grid

Property tax history

+6.0%/yr

Latest (2024): $2,162 · +3.3% YoY. Source: county tax records.