1514 4th Ave · Terre Haute, IN 47807

$75,000

3 bd · 1.0 ba · 2,228 sqft · SingleFamily public records

Built 1909 5,227 sqft lot Est $96k · 22% under

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Why this score? — see what drove the A- 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 +30.0/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +9.5/10.0
• Appreciation +7.1/10.0
• Livability +3.8/5.0
• Rent growth +3.4/5.0
• Schools +2.9/10.0
• Condition / age +2.5/5.0

Listing remarks

Looking for a large home? This property offers three bedrooms, two full bathrooms and space to creatively arrange the interior for additional bedrooms! Located near ISU campus, this home has the potential to comfortably accommodate a large household. Additional features include a great covered front porch, a multi-use flex room/bonus room, main-level laundry, and alley-access to the attached garage. Partially fenced, small yard. Let's Connect to schedule a tour!

Key facts

• 5,227 sq ft lot
• 2 garage spots
• Built 1909

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $75k.

Deal economics

• At list price, monthly cash flow is $368 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $75k).
• Cap rate 12.2% 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: 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: Deming Early Learning Center (math 17% / reading 12%, grade F, #862 of 994 statewide, top 88%, 311 students, 74% 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 64% FRL vs 47% district-wide (16 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising (+3.7%/yr); 78 active listings in the ZIP; 5 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; lower-income renter base — watch delinquency; 60 units permitted in Vigo County in 2024 (0 in 5+ unit buildings).
• At $1,084/mo this rent would consume 53% 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 ($519 loan paydown + $3k 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 $21k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 9, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 0 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts since 3y ago; this cycle's ask has dropped $25k (25%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1909 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $75,000

Questions for the listing agent

1. Built in 1909 — 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: 1.45% ✓
• Cap rate: 12.18%
• Cash-on-cash: 21.01%
• DSCR: 1.93
• GRM: 5.8

CMA / ARV

• ARV (on-the-fly): $95,804
• Comps found: 8

Show comp detail 8 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2012 1st Ave	0.38mi	3/1.0	2,054 (-8%)	1mo	$33,500	$16	69
2205 5th Ave	0.40mi	3/2.0	2,300 (+3%)	4mo	$99,000	$43	68
1216 3rd Ave	0.34mi	3/1.0	2,288 (+3%)	15mo	$125,000	$55	68
1949 Beech St	0.48mi	2/1.0 (-1)	2,360 (+6%)	13mo	$104,000	$44	52
1200 N 10th St	0.56mi	2/2.0 (-1)	1,994 (-10%)	1mo	$149,000	$75	47
2004 N 21st St	0.62mi	3/1.0	2,520 (+13%)	8mo	$68,000	$27	43
2025 N 13th St	0.63mi	3/1.5	2,009 (-10%)	16mo	$59,900	$30	39
1718 Garfield Ave	0.53mi	3/2.0	2,537 (+14%)	12mo	$99,000	$39	38

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: 30.0%
• Equity multiple: 2.80×
• Total profit: $37,895
• Equity at exit: $38,651

10-year hold

• IRR: 29.8%
• Equity multiple: 5.66×
• Total profit: $97,851
• Equity at exit: $63,721

Cash invested: $21,000 (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: 5.8×

Monthly cashflow live

• Estimated rent: $1,084 high
• Mortgage (P&I): −$393
• Tax from tax record: −$65 /mo · $774/yr
• Insurance: −$31
• HOA: −$0
• Vacancy / Maint / Mgmt: −$228
• Net cashflow: $368

Break-even live

Break-even rent $619

Max offer price $75,000

Occupancy floor 61%

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: $18,750
• Closing costs: $2,250
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2206 2nd Ave Terre Haute, IN	2.0	1.0	1664	$785	$0.47	44d	1	0.44mi
1728 N 24th St Terre Haute, IN	4.0	2.0	1922	$1,035	$0.54	43d	1	0.73mi
2250 Garfield Ave Terre Haute, IN	3.0	1.0	1500	$1,375	$0.92	43d	1	0.99mi
1915 Poplar St Unit A Terre Haute, IN	3.0	1.0	1412	$1,200	$0.85	43d	1	1.29mi
2116 Poplar St Terre Haute, IN	4.0	1.5	1872	$1,900	$1.01	43d	1	1.30mi

Listing history 12 events

1. 2025-10-11
   price $79,900
2. 2025-09-23
   price $89,900
3. 2025-08-13
   listed $99,900 Active
4. 2024-01-31
   historical
5. 2024-01-16
   status Pending
6. 2024-01-09
   historical
7. 2024-01-05
   historical
8. 2023-12-06
   price $65,000
9. 2023-12-06
   price $65,000
10. 2023-11-09
    listed $80,000 Active
11. 2023-11-09
    listed $80,000 Active
12. 2023-11-08
    listed $65,000

ⓘ 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: $774 · $65/mo
• Projected year-2 tax: $774 · $65/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 1/10 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: $13,014
• − Mortgage interest: −$4,201
• − Property taxes: −$774
• − Insurance: −$375
• − Repairs & maintenance: −$1,041
• − Management: −$1,041
• − Depreciation: −$2,182
• Taxable income: $3,399
• Est. tax owed @ 24.0%: −$816
• After-tax cash flow: $3,596/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

+22.9% since first listed

12 events — show timeline

• 2025-10-11 Price Changed $79,900 THAAR
• 2025-09-23 Price Changed $89,900 THAAR
• 2025-08-13 Listed $99,900 THAAR
• 2024-01-31 Delisted — THAAR
• 2024-01-16 Pending — MIBOR as Distributed by MLS Grid
• 2024-01-09 Listing Removed — MIBOR as Distributed by MLS Grid
• 2024-01-05 Listing Removed — MIBOR as Distributed by MLS Grid
• 2023-12-06 Price Changed $65,000 MIBOR as Distributed by MLS Grid
• 2023-12-06 Price Changed $65,000 THAAR
• 2023-11-09 Listed $80,000 THAAR
• 2023-11-09 Listed $80,000 MIBOR as Distributed by MLS Grid
• 2023-11-08 Listed $65,000 THAAR

Property tax history

+0.5%/yr

Latest (2024): $774 · -1.9% YoY. Source: county tax records.