415 W Miller Ave · West Terre Haute, IN 47885

$93,000

3 bd · 1.0 ba · 2,052 sqft · SingleFamily public records · 7 Days on market

Built 1901 $45/sqft · 19% below area Est $112k · 17% under ↓ 10% 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 +24.2/30.0
• ARV discount +15.0/15.0
• DSCR +7.8/10.0
• 1% rule +5.6/10.0
• 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

New carpet, fresh paint, and a recent price reduction! Now is the perfect time to make this charming house yours! The inviting living room features a beautiful bay window that fills the space with natural light. This home offers 3 bedrooms, 1.5 baths, and a versatile flex room that can be used as an office, playroom, or additional living space. A partial basement provides plenty of storage. Vinyl-clad windows are featured throughout most of the home. Outside, you’ll find a large yard and attractive exterior shutters that add extra curb appeal. A 2-car garage completes the package. Don’t miss your opportunity to call this home your own! Let's Connect to schedule a tour!

Key facts

• Recent updates
• Oversized yard
• Attached garage

Tags

• ATTACHED GARAGE
• OVERSIZED YARD
• RECENT UPDATES
• CLOSE TO COLLEGES
• GORGEOUS LAKE

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $93k.

Deal economics

• At list price, monthly cash flow is $186 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($985 rent vs $93k).

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 $643 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 7 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts; this cycle's ask has dropped $12k (11%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1901 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $93,000

Questions for the listing agent

1. Built in 1901 — 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. 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.
5. 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.
6. 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: 1.06% ✓
• Cap rate: 8.69%
• Cash-on-cash: 8.56%
• DSCR: 1.38
• GRM: 7.9

CMA / ARV

• ARV (median comp): $111,580
• List price: $93,000
• Delta: -15.76%
• Verdict: UNDERPRICED
• Comps: 12 within 1.0 mi

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
238 S Mcilroy Ave	0.30mi	2/1.0 (-1)	2,024 (-1%)	13mo	$120,000	$59	68
400 S 8th St	0.36mi	3/1.0	1,750 (-15%)	3mo	$113,500	$65	56
407 S 8th St	0.39mi	2/1.5 (-1)	1,848 (-10%)	12mo	$85,000	$46	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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -3.3%
• Equity multiple: 0.88×
• Total profit: $-3,250
• Equity at exit: $13,867

10-year hold

• IRR: 6.4%
• Equity multiple: 1.47×
• Total profit: $12,344
• Equity at exit: $8,041

Cash invested: $26,040 (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: 7.9×

Monthly cashflow live

• Estimated rent: $985 medium
• Mortgage (P&I): −$488
• Tax from tax record: −$66 /mo · $788/yr
• Insurance: −$39
• HOA: −$0
• Vacancy / Maint / Mgmt: −$207
• Net cashflow: $186

Break-even live

Break-even rent $749

Max offer price $93,000

Occupancy floor 76%

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: $23,250
• Closing costs: $2,790
• Reserves months: —
• Total cash needed: —

Listing history 19 events

1. 2026-06-19
   days on market $93,000 Active 7 DOM
2. 2026-06-18
   days on market $93,000 Active 6 DOM
3. 2026-06-17
   days on market $93,000 Active 5 DOM
4. 2026-06-16
   days on market $93,000 Active 4 DOM
5. 2026-06-15
   days on market $93,000 Active 3 DOM
6. 2026-06-13
   pricelisting id $93,000 Active 1 DOM
7. 2026-06-10
   days on marketlisting id $94,000 Active 1 DOM
8. 2026-06-08
   days on market $94,000 Active 176 DOM
9. 2026-06-07
   days on market $94,000 Active 175 DOM
10. 2026-06-05
    days on market $94,000 Active 172 DOM
11. 2026-06-02
    days on market $94,000 Active 170 DOM
12. 2026-06-01
    days on market $94,000 Active 169 DOM
13. 2026-05-31
    days on market $94,000 Active 168 DOM
14. 2026-05-30
    days on market $94,000 Active 167 DOM
15. 2026-05-04
    status Active 689-char remark

    Show marketing remark (689 chars)

    New carpet, fresh paint, and a recent price reduction! Now is the perfect time to make this charming house yours! The inviting living room features a beautiful bay window that fills the space with natural light. This home offers 3 bedrooms, 1.5 baths, and a versatile flex room that can be used as an office, playroom, or additional living space. A partial basement provides plenty of storage. Vinyl-clad windows are featured throughout most of the home. Outside, you’ll find a large yard and attractive exterior shutters that add extra curb appeal. A 2-car garage completes the package. Don’t miss your opportunity to call this home your own! Let's Connect to schedule a tour!

16. 2026-04-29
    status Pending 689-char remark

    Show marketing remark (689 chars)

    New carpet, fresh paint, and a recent price reduction! Now is the perfect time to make this charming house yours! The inviting living room features a beautiful bay window that fills the space with natural light. This home offers 3 bedrooms, 1.5 baths, and a versatile flex room that can be used as an office, playroom, or additional living space. A partial basement provides plenty of storage. Vinyl-clad windows are featured throughout most of the home. Outside, you’ll find a large yard and attractive exterior shutters that add extra curb appeal. A 2-car garage completes the package. Don’t miss your opportunity to call this home your own! Let's Connect to schedule a tour!

17. 2026-03-01
    price $94,000 689-char remark

    Show marketing remark (689 chars)

    New carpet, fresh paint, and a recent price reduction! Now is the perfect time to make this charming house yours! The inviting living room features a beautiful bay window that fills the space with natural light. This home offers 3 bedrooms, 1.5 baths, and a versatile flex room that can be used as an office, playroom, or additional living space. A partial basement provides plenty of storage. Vinyl-clad windows are featured throughout most of the home. Outside, you’ll find a large yard and attractive exterior shutters that add extra curb appeal. A 2-car garage completes the package. Don’t miss your opportunity to call this home your own! Let's Connect to schedule a tour!

18. 2026-01-09
    price $100,000 689-char remark

    Show marketing remark (689 chars)

    New carpet, fresh paint, and a recent price reduction! Now is the perfect time to make this charming house yours! The inviting living room features a beautiful bay window that fills the space with natural light. This home offers 3 bedrooms, 1.5 baths, and a versatile flex room that can be used as an office, playroom, or additional living space. A partial basement provides plenty of storage. Vinyl-clad windows are featured throughout most of the home. Outside, you’ll find a large yard and attractive exterior shutters that add extra curb appeal. A 2-car garage completes the package. Don’t miss your opportunity to call this home your own! Let's Connect to schedule a tour!

19. 2025-12-09
    listed $105,000 Active 689-char remark

    Show marketing remark (689 chars)

    New carpet, fresh paint, and a recent price reduction! Now is the perfect time to make this charming house yours! The inviting living room features a beautiful bay window that fills the space with natural light. This home offers 3 bedrooms, 1.5 baths, and a versatile flex room that can be used as an office, playroom, or additional living space. A partial basement provides plenty of storage. Vinyl-clad windows are featured throughout most of the home. Outside, you’ll find a large yard and attractive exterior shutters that add extra curb appeal. A 2-car garage completes the package. Don’t miss your opportunity to call this home your own! Let's Connect to schedule a tour!

ⓘ 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: $788 · $66/mo
• Projected year-2 tax: $789 · $66/mo
• Expected delta: +$1/yr ($0/mo · 0.2%)

ⓘ 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 · 70% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 4/10 Moderate 7 d/yr ≥105°F today · 20 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: $11,817
• − Mortgage interest: −$5,209
• − Property taxes: −$788
• − Insurance: −$465
• − Repairs & maintenance: −$945
• − Management: −$945
• − Depreciation: −$2,705
• Taxable income: $758
• Est. tax owed @ 24.0%: −$182
• After-tax cash flow: $2,048/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

-10.5% since first listed

5 events — show timeline

• 2026-05-04 Relisted — THAAR
• 2026-04-29 Pending — THAAR
• 2026-03-01 Price Changed $94,000 THAAR
• 2026-01-09 Price Changed $100,000 THAAR
• 2025-12-09 Listed $105,000 THAAR

Property tax history

+4.1%/yr

Latest (2024): $788 · +2.5% YoY. Source: county tax records.