2815 N 4th St · Terre Haute, IN 47804

$130,000

2 bd · 1.5 ba · 1,257 sqft · Condo public records · 50 Days on market

Built 1985 $103/sqft · at area comps Est $125k · at est.

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Why this score? — see what drove the D 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 +15.1/30.0
• ARV discount +5.8/15.0
• DSCR +4.6/10.0
• Livability +3.8/5.0
• 1% rule +3.5/10.0
• 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

Charming and move-in ready 2-bedroom, 1.5-bath condo with thoughtful updates throughout! Enjoy a bright, inviting living space featuring a cozy fireplace with gas log insert—perfect for relaxing evenings at home. The updated kitchen shines with new countertops, offering both style and functionality for everyday living and entertaining. Recent improvements provide peace of mind, including new windows, a new front door, updated flooring, and a new garage door opener. Additional insulation added above the garage. The half bath has been tastefully refreshed with a new sink and vanity, adding a modern touch. Fresh paint throughout. With two spacious bedrooms and a well-designed layout, this home offers comfort and convenience in every detail. Whether you’re a first-time buyer, downsizing, or looking for low-maintenance living, this beautifully updated condo is a must-see!

Key facts

• Updated kitchen
• New front door
• Updated flooring

Tags

• COZY FIREPLACE
• UPDATED KITCHEN
• NEW WINDOWS
• NEW FRONT DOOR
• UPDATED FLOORING
• NEW GARAGE DOOR OPENER

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath condo listed at $130k.

Deal economics

• At list price, monthly cash flow is $44 ($525/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 $111k (14.7% below list).
• Recommended offer: $111k (14.7% below list) — sets the bar for 1% rule.
• Cap rate 6.7% 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: Terre Town Elementary School (math 43% / reading 35%, grade F, #530 of 994 statewide, top 54%, 556 students, 82% FRL); Otter Creek Middle School (math 13% / reading 25%, grade F, #274 of 330 statewide, top 83%, 787 students, 65% FRL); Terre Haute North Vigo High School (math 25% / reading 62%, grade F, #191 of 369 statewide, top 52%, 1,507 students, 51% FRL) — zoned schools average 66% FRL vs 47% district-wide (19 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 66 active listings in the ZIP; 2 comparable units currently listed for rent nearby; lower-income renter base — watch delinquency; 60 units permitted in Vigo County in 2024 (0 in 5+ unit buildings).
• This rent runs 33% of the median local income ($41k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $899 of loan paydown is wiped out by about $4k 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 50 days — a 3% lower offer ($126k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 5y 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.
• Current owner paid $80k; list at $130k implies a 62% gain — meaningful room to come down on a strong offer.

Recommended offer $110,911 (14.7% below list)

Questions for the listing agent

1. It's been on market 50 days. Have you received any prior offers? Is the seller open to a 15% concession, seller financing, or rate buy-down credit?
2. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 0.85% ✗
• Cap rate: 6.70%
• Cash-on-cash: 1.44%
• DSCR: 1.06
• GRM: 9.8

CMA / ARV

• ARV (median comp): $125,275
• List price: $130,000
• Delta: 3.77%
• Verdict: FAIR
• Comps: 15 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -14.0%
• Equity multiple: 0.50×
• Total profit: $-18,305
• Equity at exit: $19,383

10-year hold

• IRR: -5.3%
• Equity multiple: 0.66×
• Total profit: $-12,451
• Equity at exit: $11,240

Cash invested: $36,400 (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 47804

• Home prices YoY: -24.2%
• Active inventory: 66
• Price-to-rent: 9.8×

Monthly cashflow live

• Estimated rent: $1,109 medium
• Mortgage (P&I): −$682
• Tax from tax record: −$97 /mo · $1,159/yr
• Insurance: −$54
• HOA: −$0
• Vacancy / Maint / Mgmt: −$233
• Net cashflow: $44

Break-even live

Break-even rent $1,054

Max offer price $130,000

Occupancy floor 91%

Sensitivity live

Price	-10% $117	-5% $81	+0% $44	+5% $7	+10% $-30
Rent	-10% $-44	-5% $0	+0% $44	+5% $88	+10% $131
Rate	-1.0pp $109	-0.5pp $77	base $44	+0.5pp $10	+1.0pp $-24

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: $32,500
• Closing costs: $3,900
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2250 Garfield Ave Terre Haute, IN	3.0	1.0	1500	$1,375	$0.92	45d	1	0.81mi
3100 N 14th St Terre Haute, IN	3.0	1.5	990	$1,450	$1.46	45d	1	0.89mi

HOA detail condo

• Monthly dues: $0 · $0/yr
• Likely covers: gas
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 8 events

1. 2026-05-13
   status Pending 891-char remark

   Show marketing remark (891 chars)

   Charming and move-in ready 2-bedroom, 1.5-bath condo with thoughtful updates throughout! Enjoy a bright, inviting living space featuring a cozy fireplace with gas log insert—perfect for relaxing evenings at home. The updated kitchen shines with new countertops, offering both style and functionality for everyday living and entertaining. Recent improvements provide peace of mind, including new windows, a new front door, updated flooring, and a new garage door opener. Additional insulation added above the garage. The half bath has been tastefully refreshed with a new sink and vanity, adding a modern touch. Fresh paint throughout. With two spacious bedrooms and a well-designed layout, this home offers comfort and convenience in every detail. Whether you’re a first-time buyer, downsizing, or looking for low-maintenance living, this beautifully updated condo is a must-see!

2. 2026-04-13
   status Active 891-char remark

   Show marketing remark (891 chars)

   Charming and move-in ready 2-bedroom, 1.5-bath condo with thoughtful updates throughout! Enjoy a bright, inviting living space featuring a cozy fireplace with gas log insert—perfect for relaxing evenings at home. The updated kitchen shines with new countertops, offering both style and functionality for everyday living and entertaining. Recent improvements provide peace of mind, including new windows, a new front door, updated flooring, and a new garage door opener. Additional insulation added above the garage. The half bath has been tastefully refreshed with a new sink and vanity, adding a modern touch. Fresh paint throughout. With two spacious bedrooms and a well-designed layout, this home offers comfort and convenience in every detail. Whether you’re a first-time buyer, downsizing, or looking for low-maintenance living, this beautifully updated condo is a must-see!

3. 2026-04-09
   status Pending 891-char remark

   Show marketing remark (891 chars)

   Charming and move-in ready 2-bedroom, 1.5-bath condo with thoughtful updates throughout! Enjoy a bright, inviting living space featuring a cozy fireplace with gas log insert—perfect for relaxing evenings at home. The updated kitchen shines with new countertops, offering both style and functionality for everyday living and entertaining. Recent improvements provide peace of mind, including new windows, a new front door, updated flooring, and a new garage door opener. Additional insulation added above the garage. The half bath has been tastefully refreshed with a new sink and vanity, adding a modern touch. Fresh paint throughout. With two spacious bedrooms and a well-designed layout, this home offers comfort and convenience in every detail. Whether you’re a first-time buyer, downsizing, or looking for low-maintenance living, this beautifully updated condo is a must-see!

4. 2026-03-20
   listed $130,000 Active 891-char remark

   Show marketing remark (891 chars)

   Charming and move-in ready 2-bedroom, 1.5-bath condo with thoughtful updates throughout! Enjoy a bright, inviting living space featuring a cozy fireplace with gas log insert—perfect for relaxing evenings at home. The updated kitchen shines with new countertops, offering both style and functionality for everyday living and entertaining. Recent improvements provide peace of mind, including new windows, a new front door, updated flooring, and a new garage door opener. Additional insulation added above the garage. The half bath has been tastefully refreshed with a new sink and vanity, adding a modern touch. Fresh paint throughout. With two spacious bedrooms and a well-designed layout, this home offers comfort and convenience in every detail. Whether you’re a first-time buyer, downsizing, or looking for low-maintenance living, this beautifully updated condo is a must-see!

5. 2021-09-03
   soldstatus $80,000 509-char remark

   Show marketing remark (509 chars)

   Enjoy easy condo living in White Oaks Place. Conveniently located north near Highway 41 & Fort Harrison. Close to ISU, St. Mary's and Union Hospital. Large loft area overlooking the living room with a fireplace and solid bamboo flooring. Dining area leads out to a deck and large yard. Kitchen has updated backsplash and stainless-steel appliances. Beautifully updated half bath downstairs. Master bedroom has a large walk-in closet. Washer & dryer hook up is on the main floor. Attached 1 car garage.

6. 2021-09-03
   soldstatus $80,000

   Show marketing remark (509 chars)

   Enjoy easy condo living in White Oaks Place. Conveniently located north near Highway 41 & Fort Harrison. Close to ISU, St. Mary's and Union Hospital. Large loft area overlooking the living room with a fireplace and solid bamboo flooring. Dining area leads out to a deck and large yard. Kitchen has updated backsplash and stainless-steel appliances. Beautifully updated half bath downstairs. Master bedroom has a large walk-in closet. Washer & dryer hook up is on the main floor. Attached 1 car garage.

7. 2021-07-09
   listed $84,900 509-char remark

   Show marketing remark (509 chars)

   Enjoy easy condo living in White Oaks Place. Conveniently located north near Highway 41 & Fort Harrison. Close to ISU, St. Mary's and Union Hospital. Large loft area overlooking the living room with a fireplace and solid bamboo flooring. Dining area leads out to a deck and large yard. Kitchen has updated backsplash and stainless-steel appliances. Beautifully updated half bath downstairs. Master bedroom has a large walk-in closet. Washer & dryer hook up is on the main floor. Attached 1 car garage.

8. 2021-07-09
   listed $84,900

   Show marketing remark (509 chars)

   Enjoy easy condo living in White Oaks Place. Conveniently located north near Highway 41 & Fort Harrison. Close to ISU, St. Mary's and Union Hospital. Large loft area overlooking the living room with a fireplace and solid bamboo flooring. Dining area leads out to a deck and large yard. Kitchen has updated backsplash and stainless-steel appliances. Beautifully updated half bath downstairs. Master bedroom has a large walk-in closet. Washer & dryer hook up is on the main floor. Attached 1 car garage.

ⓘ 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: $1,159 · $97/mo
• Projected year-2 tax: $1,159 · $97/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 ≥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: $13,309
• − Mortgage interest: −$7,282
• − Property taxes: −$1,159
• − Insurance: −$650
• − Repairs & maintenance: −$1,065
• − Management: −$1,065
• − Depreciation: −$3,782
• Taxable loss: −$1,693
• Est. tax savings @ 24.0%: +$406
• After-tax cash flow: $931/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): 10,553
• Household income: $40,674
• Rent vs Own: 42.4% rent · 57.6% own
• Severe rent burden: 414.0

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 (81%)
• Race & ethnicity: White 81% Hispanic / Latino 7% Black 6% Two or more races 5%
• Hispanic origin (detail): Mexican 5% Puerto Rican 1%
• Common ancestry: Slovak 4% Lithuanian 3% Romanian 2%
• Foreign-born: 4% · Canada, China
• Languages at home: 92% English-only · Spanish 7% 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: ▼ -52.33%
• Current HPI: 164.2961
• Rent YoY: —
• 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

+53.1% since first listed

8 events — show timeline

• 2026-05-13 Pending — THAAR
• 2026-04-13 Relisted — THAAR
• 2026-04-09 Pending — THAAR
• 2026-03-20 Listed $130,000 THAAR
• 2021-09-03 Sold (MLS) $80,000 THAAR
• 2021-09-03 Sold (MLS) $80,000 MIBOR as Distributed by MLS Grid
• 2021-07-09 Listed $84,900 MIBOR as Distributed by MLS Grid
• 2021-07-09 Listed $84,900 THAAR

Property tax history

+4.0%/yr

Latest (2024): $1,159 · +0.2% YoY. Source: county tax records.