505 S 20th · Terre Haute, IN 47803

$59,900

2 bd · 1.0 ba · 920 sqft · SingleFamily public records · 4 Days on market

Built 1900 5,117 sqft lot Est $106k · 43% under

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Why this score? — see what drove the B+ 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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +3.8/5.0
• Rent growth +3.5/5.0
• Schools +2.9/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Opportunity meets simplicity at 505 South 20th Street in Terre Haute, Indiana 47803, a 920 sq ft single-family home that keeps ownership straightforward while offering the kind of manageable footprint many buy-and-hold investors appreciate. With a classic 2-bedroom, 1-bath layout, this is a clean starting point for a long-term hold strategy focused on durability, ease of upkeep, and day-to-day livability. Inside, the 2 bedrooms provide practical separation for everyday routines, while the 1-bath plan keeps maintenance efficient and predictable. At 920 sq ft, the home is sized for comfortable, uncomplicated living, with space that can flex between rest, work-from-home needs, or a dedicated h

Key facts

• 5,117 sq ft lot
• Built 1900
• Listed 4 days

Property features AI

Exterior

• Home design: Single-family residence; One-story
• Construction: Aluminum siding and frame construction
• Exterior features: Front porch; Shingle roof

Interior

• Kitchen: Electric range; Electric oven
• Bedrooms: Total of 5 rooms (bedroom count not specified)
• Bathrooms: 1 full bathroom
• Heating & cooling: Natural gas heating; Has heating
• Interior features: Insulated windows; Partial basement

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $60k.

Deal economics

• At list price, monthly cash flow is $402 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $60k).
• Cap rate 14.3% 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: Davis Park Elementary School (math 32% / reading 27%, grade F, #697 of 994 statewide, top 73%, 335 students, 88% FRL); Woodrow Wilson Middle School (math 21% / reading 31%, grade F, #240 of 330 statewide, top 73%, 701 students, 62% 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 67% FRL vs 47% district-wide (20 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising fast (+4.1%/yr); 177 active listings in the ZIP; 13 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 $414 of loan paydown is wiped out by about $2k 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.
• At projected returns (-3.0% appreciation + 4.1% rent growth), your $17k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 7y 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 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $59,900

Questions for the listing agent

1. Built in 1900 — 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: 1.71% ✓
• Cap rate: 14.35%
• Cash-on-cash: 28.77%
• DSCR: 2.28
• GRM: 4.9

CMA / ARV

• ARV (on-the-fly): $105,800
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
557 Monterey Ave	0.13mi	2/1.0	906 (-2%)	1mo	$110,000	$121	90
1805 Park St	0.26mi	2/1.0	922 (+0%)	7mo	$79,900	$87	82
415 S 24th St	0.39mi	2/1.0	930 (+1%)	1mo	$85,000	$91	80
2006 Park St	0.22mi	2/1.0	957 (+4%)	8mo	$109,900	$115	77
508 S 20th St	0.03mi	2/1.0	1,053 (+14%)	7mo	$138,900	$132	69
136 Monterey Ave	0.43mi	2/1.0	979 (+6%)	3mo	$159,000	$162	67
438 Gilbert Ave	0.36mi	3/1.0 (+1)	972 (+6%)	7mo	$30,000	$31	63
2107 College	0.37mi	2/2.0	1,040 (+13%)	0mo	$165,000	$159	56
436 S 16th St	0.24mi	2/1.0	1,044 (+14%)	20mo	$116,000	$111	50
125 S 26th St	0.70mi	3/1.0 (+1)	988 (+7%)	8mo	$143,500	$145	43
1216 S 25th St	0.65mi	2/1.0	824 (-10%)	16mo	$90,000	$109	39
2732 Park St	0.68mi	3/1.0 (+1)	1,004 (+9%)	14mo	$65,500	$65	36

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 · 4.09% rent growth · sell at horizon

5-year hold

• IRR: 24.3%
• Equity multiple: 2.02×
• Total profit: $17,051
• Equity at exit: $8,931

10-year hold

• IRR: 32.8%
• Equity multiple: 4.14×
• Total profit: $52,632
• Equity at exit: $5,179

Cash invested: $16,772 (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 47803

• Home prices YoY: -28.6%
• Rents YoY: 4.1%
• Active inventory: 177
• Price-to-rent: 4.9×

Monthly cashflow live

• Estimated rent: $1,023 high
• Mortgage (P&I): −$314
• Tax from tax record: −$67 /mo · $806/yr
• Insurance: −$25
• HOA: −$0
• Vacancy / Maint / Mgmt: −$215
• Net cashflow: $402

Break-even live

Break-even rent $514

Max offer price $59,900

Occupancy floor 56%

Sensitivity live

Price	-10% $436	-5% $419	+0% $402	+5% $385	+10% $368
Rent	-10% $321	-5% $362	+0% $402	+5% $443	+10% $483
Rate	-1.0pp $432	-0.5pp $417	base $402	+0.5pp $387	+1.0pp $371

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: $14,975
• Closing costs: $1,797
• Reserves months: —
• Total cash needed: —

Rent comps 13 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
435 S 18th St Terre Haute, IN	3.0	1.0	1108	$1,050	$0.95	44d	1	0.16mi
1701 Ohio St Unit C Terre Haute, IN	2.0	1.0	880	$950	$1.08	44d	1	0.34mi
1609 Ohio St Unit 1 Terre Haute, IN, USA Terre Haute, IN	1.0	1.0	700	$785	$1.12	44d	1	0.37mi
433 S 25th St Terre Haute, IN	2.0	1.0	760	$995	$1.31	44d	1	0.43mi
1320 S 19th St Terre Haute, IN	2.0	1.0	830	$700	$0.84	44d	1	0.54mi
731 S 7th St Terre Haute, IN	1.0	1.0	700	$1,200	$1.71	44d	1	1.09mi
1201 S 7th St Unit 3 Terre Haute, IN	3.0	1.0	880	$925	$1.05	44d	1	1.18mi
1095 Spruce St Unit 2 Bed TBD Terre Haute, IN	2.0	1.0	650	$519	$0.80	44d	1	1.18mi
615 Cherry St Unit 212 Terre Haute, IN	2.0	1.0	625	$1,194	$1.91	44d	1	1.29mi
500 College Ave Terre Haute, IN	2.0	1.0	809	$792	$0.98	44d	14	1.35mi
1611 S 7th St Apt 4 Terre Haute, IN	2.0	1.0	1022	$795	$0.78	44d	1	1.36mi
901 Elm St Terre Haute, IN	2.0	1.0	600	$800	$1.33	44d	1	1.39mi
66 Pear Tree Ln Terre Haute, IN	2.0	1.0	868	$875	$1.01	44d	1	1.43mi

Listing history 6 events

1. 2026-06-01
   statusdays on market $59,900 Pending 4 DOM
2. 2026-05-31
   days on market $59,900 Active 3 DOM
3. 2026-05-30
   days on market $59,900 Active 2 DOM
4. 2026-05-28
   listed $59,900 Active
5. 2022-05-12
   price $575
6. 2019-07-15
   listed $31,900

ⓘ 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: $806 · $67/mo
• Projected year-2 tax: $806 · $67/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 4/10 Moderate FEMA zone X (unshaded) · 24% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 4/10 Moderate 7 d/yr ≥104°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: $12,280
• − Mortgage interest: −$3,355
• − Property taxes: −$806
• − Insurance: −$300
• − Repairs & maintenance: −$982
• − Management: −$982
• − Depreciation: −$1,743
• Taxable income: $4,111
• Est. tax owed @ 24.0%: −$987
• After-tax cash flow: $3,839/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): 21,746
• Household income: $60,565
• Rent vs Own: 30.9% rent · 69.1% own
• Severe rent burden: 571.0

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 (86%)
• Race & ethnicity: White 86% Asian 5% Two or more races 4% Black 3% Hispanic / Latino 3%
• Common ancestry: Slovak 2% Lithuanian 2% Italian 1%
• Foreign-born: 5% · China, Canada
• Languages at home: 94% English-only · Chinese 2% Spanish 1% Other Asian/Pacific 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: ▼ -69.70%
• Current HPI: 173.6547
• Rent YoY: ▲ 4.09%
• 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

+87.8% since first listed

3 events — show timeline

• 2026-05-28 Listed $59,900 THAAR
• 2022-05-12 Price Changed $575 RENT.
• 2019-07-15 Listed $31,900 THAAR

Property tax history

-6.5%/yr

Latest (2024): $806 · +0.3% YoY. Source: county tax records.