516 S 24th St · Terre Haute, IN 47803

$169,900

2 bd · 1.0 ba · 1,788 sqft · SingleFamily public records · 2 Days on market

Built 1940 5,663 sqft lot Est $181k · 6% under

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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 +11.3/30.0
• ARV discount +10.2/15.0
• Livability +3.8/5.0
• Rent growth +3.5/5.0
• DSCR +3.3/10.0
• Schools +2.9/10.0
• Condition / age +2.5/5.0
• 1% rule +2.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

This lovely 3 bedroom, 1 bath brick cottage is ready to be your new home. The main level consists of the living room with nice fireplace, dining room, kitchen, 2 bedrooms and 1 bath. Upstairs is additional bedroom with sitting area. This could also be used as family room/office/playroom. A partial fenced yard and a one car garage. Full basement with lots of room for storage. Many updates including: windows 2014, driveway, porch. railing, retaining wall 2014, refrigerator, sink and faucet 2017. New front, back and screen doors. Convenient location near Meadows - Baeslers area.

Key facts

• Attached garage
• Full basement
• Updated kitchen

Tags

• BRICK RANCH
• FULL BASEMENT
• ATTACHED GARAGE
• CONCRETE DRIVEWAY
• UPDATED KITCHEN
• FENCED BACKYARD

Property features AI

Exterior

• Parking: Detached concrete garage (1 car)
• Utilities: Public sewer
• Home design: Single-family residence; Single story
• Construction: Block construction
• Exterior features: Patio; Porch; Shingle roof

Interior

• Kitchen: Electric range; Electric oven; Refrigerator
• Bathrooms: 1 full bathroom
• Heating & cooling: Central air conditioning; Forced air heating (natural gas)
• Interior features: Fireplace (1); Full basement

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $170k.

Deal economics

• At list price, monthly cash flow is $-61 ($-728/yr) — negative.
• To cash-flow at today's rent, offer at most $159k (6.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $125k (26.7% below list).
• Recommended offer: $125k (26.7% below list) — sets the bar for 1% rule.
• Cap rate 5.9% vs local median 4.7% in Terre Haute — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

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; 2 comparable units currently listed for rent nearby; 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 $1k of loan paydown is wiped out by about $5k 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 2 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 8y 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 $92k; list at $170k implies a 85% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1940 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $124,535 (26.7% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. Built in 1940 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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 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: 0.73% ✗
• Cap rate: 5.86%
• Cash-on-cash: -1.53%
• DSCR: 0.93
• GRM: 11.4

CMA / ARV

• ARV (on-the-fly): $180,588
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2539 Oak St	0.14mi	2/2.0	1,719 (-4%)	8mo	$173,000	$101	77
906 S 19th St	0.49mi	3/1.5 (+1)	1,701 (-5%)	1mo	$128,000	$75	61
2236 Park St	0.23mi	3/2.0 (+1)	1,562 (-13%)	2mo	$137,900	$88	58
1307 S 21st St	0.58mi	3/1.0 (+1)	1,848 (+3%)	8mo	$48,000	$26	56
2611 Mariposa Dr	0.65mi	3/2.0 (+1)	1,892 (+6%)	1mo	$138,000	$73	50
65 S 21st St	0.61mi	2/1.5	1,625 (-9%)	6mo	$192,500	$118	50
2215 College Ave	0.40mi	3/2.0 (+1)	1,717 (-4%)	20mo	$143,000	$83	49
3028 Franklin St	0.60mi	3/1.0 (+1)	1,978 (+11%)	1mo	$215,000	$109	48
2100 College Ave	0.44mi	3/1.5 (+1)	1,558 (-13%)	7mo	$184,900	$119	45
805 S Brown Ave	0.58mi	3/2.5 (+1)	1,561 (-13%)	5mo	$242,000	$155	37
1008 S 18th St	0.58mi	1/1.0 (-1)	1,539 (-14%)	19mo	$53,000	$34	29
2901 Cruft St	0.52mi	3/2.5 (+1)	1,599 (-11%)	22mo	$260,000	$163	29

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: -17.8%
• Equity multiple: 0.37×
• Total profit: $-30,077
• Equity at exit: $25,333

10-year hold

• IRR: -8.3%
• Equity multiple: 0.46×
• Total profit: $-25,624
• Equity at exit: $14,690

Cash invested: $47,572 (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: 11.4×

Monthly cashflow live

• Estimated rent: $1,245 medium
• Mortgage (P&I): −$891
• Tax from tax record: −$83 /mo · $993/yr
• Insurance: −$71
• HOA: −$0
• Vacancy / Maint / Mgmt: −$262
• Net cashflow: $-61

Break-even live

Break-even rent $1,322

Max offer price $159,177

Occupancy floor 100%

Sensitivity live

Price	-10% $35	-5% $-13	+0% $-61	+5% $-109	+10% $-157
Rent	-10% $-159	-5% $-110	+0% $-61	+5% $-12	+10% $38
Rate	-1.0pp $25	-0.5pp $-17	base $-61	+0.5pp $-105	+1.0pp $-150

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: $42,475
• Closing costs: $5,097
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1915 Poplar St Unit A Terre Haute, IN	3.0	1.0	1412	$1,200	$0.85	44d	1	0.46mi
2206 2nd Ave Terre Haute, IN	2.0	1.0	1664	$785	$0.47	45d	1	1.37mi

Listing history 3 events

1. 2026-06-14
   statusdays on market $169,900 Pending 2 DOM
2. 2026-06-13
   remarks 699-char remark
3. 2026-06-13
   listed $169,900 Active 1 DOM

ⓘ 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: $993 · $83/mo
• Projected year-2 tax: $1,219 · $102/mo
• Expected delta: +$225/yr (+$19/mo · 22.7%)

ⓘ 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 ≥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: $14,944
• − Mortgage interest: −$9,517
• − Property taxes: −$993
• − Insurance: −$850
• − Repairs & maintenance: −$1,196
• − Management: −$1,196
• − Depreciation: −$4,943
• Taxable loss: −$3,749
• Est. tax savings @ 24.0%: +$900
• After-tax cash flow: $171/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

+82.9% since first listed

3 events — show timeline

• 2026-06-11 Listed $169,900 THAAR
• 2018-03-09 Sold (MLS) $92,000 THAAR
• 2018-01-31 Listed $92,900 THAAR

Property tax history

+2.8%/yr

Latest (2024): $993 · +4.4% YoY. Source: county tax records.