315 N 14 1/2 St · Terre Haute, IN 47807

$12,000

2 bd · 1.0 ba · 750 sqft · SingleFamily public records · 91 Days on market

Built 1904 4,356 sqft lot $16/sqft · 82% below area ↓ 22% 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 +15.0/30.0
• ARV discount +7.5/15.0
• Appreciation +7.1/10.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Livability +3.8/5.0
• Rent growth +3.4/5.0
• Schools +2.9/10.0
• Condition / age +2.5/5.0

Listing remarks MLS

Calling all investors! This property is condemned and in need of significant renovation, including city approval before occupancy and to enter it. With the right vision and work, this could be a rewarding project. Sold as-is.

Key facts

• 4,356 sq ft lot
• Built 1904
• Listed 91 days

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $12k.

Deal economics

• At list price, monthly cash flow is $564 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($843 rent vs $12k).
• Recommended offer: $11k (9.0% below list) — sets the bar for market timing.
• Cap rate 62.7% 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: schools D-, 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.
• Market conditions: Rents rising (+3.7%/yr); 78 active listings in the ZIP; 16 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).
• This rent runs 41% of the median local income ($25k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• In year one you build about $580 of equity ($83 loan paydown + $497 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 $3k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 91 days — a 9% lower offer ($11k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: property tax is 3.4% of price; built in 1904 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $10,920 (9.0% below list)

Questions for the listing agent

1. It's been on market 91 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1904 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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.
9. 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.
10. 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: 7.02% ✓
• Cap rate: 62.65%
• Cash-on-cash: 201.28%
• DSCR: 9.96
• GRM: 1.2

CMA / ARV

• ARV (median comp): $65,828
• List price: $12,000
• Delta: -81.77%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1510 2nd Ave	0.51mi	2/1.0	790 (+5%)	3mo	$47,500	$60	65
1619 4th Ave	0.64mi	2/1.0	675 (-10%)	3mo	$73,000	$108	51

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: —
• Equity multiple: 12.53×
• Total profit: $38,738
• Equity at exit: $6,184

10-year hold

• IRR: —
• Equity multiple: 27.10×
• Total profit: $87,696
• Equity at exit: $10,195

Cash invested: $3,360 (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: 1.2×

Monthly cashflow live

• Estimated rent: $843 high
• Mortgage (P&I): −$63
• Tax from tax record: −$34 /mo · $412/yr
• Insurance: −$5
• HOA: −$0
• Vacancy / Maint / Mgmt: −$177
• Net cashflow: $564

Break-even live

Break-even rent $129

Max offer price $12,000

Occupancy floor 28%

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: $3,000
• Closing costs: $360
• Reserves months: —
• Total cash needed: —

Rent comps 16 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1095 Spruce St Unit 2 Bed TBD Terre Haute, IN	2.0	1.0	650	$519	$0.80	43d	1	0.42mi
1609 Ohio St Unit 1 Terre Haute, IN, USA Terre Haute, IN	1.0	1.0	700	$785	$1.12	43d	1	0.49mi
1701 Ohio St Unit C Terre Haute, IN	2.0	1.0	880	$950	$1.08	43d	1	0.51mi
901 Elm St Terre Haute, IN	2.0	1.0	600	$800	$1.33	43d	1	0.60mi
435 S 18th St Terre Haute, IN	3.0	1.0	1108	$1,050	$0.95	43d	1	0.74mi
1028 N 9th St Terre Haute, IN	2.0	1.0	960	$1,200	$1.25	43d	1	0.77mi
615 Cherry St Unit 212 Terre Haute, IN	2.0	1.0	625	$1,194	$1.91	43d	1	0.89mi
433 S 25th St Terre Haute, IN	2.0	1.0	760	$995	$1.31	43d	1	1.05mi
1723 N 11th St Unit 3 Terre Haute, IN	2.0	1.0	800	$800	$1.00	43d	1	1.12mi
1723 N 11th St Unit 2 Terre Haute, IN	1.0	1.0	700	$800	$1.14	43d	1	1.12mi
731 S 7th St Terre Haute, IN	1.0	1.0	700	$1,200	$1.71	43d	1	1.15mi
2003 N 22nd St Terre Haute, IN	1.0	1.0	846	$650	$0.77	43d	1	1.28mi
1320 S 19th St Terre Haute, IN	2.0	1.0	830	$700	$0.84	43d	1	1.34mi
628 Ash St Terre Haute, IN	1.0–2.0	1.0	568	$750	$1.32	43d	1	1.38mi
1201 S 7th St Unit 3 Terre Haute, IN	3.0	1.0	880	$925	$1.05	43d	1	1.41mi
500 College Ave Terre Haute, IN	2.0	1.0	809	$792	$0.98	43d	14	1.45mi

Listing history 18 events

1. 2026-06-18
   days on market $12,000 Active 91 DOM
2. 2026-06-17
   days on market $12,000 Active 90 DOM
3. 2026-06-16
   days on market $12,000 Active 89 DOM
4. 2026-06-15
   days on market $12,000 Active 88 DOM
5. 2026-06-14
   days on market $12,000 Active 86 DOM
6. 2026-06-13
   days on market $12,000 Active 85 DOM
7. 2026-06-10
   days on market $12,000 Active 83 DOM
8. 2026-06-09
   days on market $12,000 Active 82 DOM
9. 2026-06-08
   days on market $12,000 Active 81 DOM
10. 2026-06-07
    pricedays on market $12,000 Active 80 DOM
11. 2026-06-05
    days on market $14,000 Active 77 DOM
12. 2026-06-02
    days on market $14,000 Active 75 DOM
13. 2026-06-01
    days on market $14,000 Active 74 DOM
14. 2026-05-31
    days on market $14,000 Active 73 DOM
15. 2026-05-30
    days on market $14,000 Active 72 DOM
16. 2026-04-16
    price $14,000 225-char remark

    Show marketing remark (225 chars)

    Calling all investors! This property is condemned and in need of significant renovation, including city approval before occupancy and to enter it. With the right vision and work, this could be a rewarding project. Sold as-is.

17. 2026-04-02
    price $16,000 225-char remark

    Show marketing remark (225 chars)

    Calling all investors! This property is condemned and in need of significant renovation, including city approval before occupancy and to enter it. With the right vision and work, this could be a rewarding project. Sold as-is.

18. 2026-03-19
    listed $18,000 Active 225-char remark

    Show marketing remark (225 chars)

    Calling all investors! This property is condemned and in need of significant renovation, including city approval before occupancy and to enter it. With the right vision and work, this could be a rewarding project. Sold as-is.

ⓘ 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: $412 · $34/mo
• Projected year-2 tax: $412 · $34/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: $10,114
• − Mortgage interest: −$672
• − Property taxes: −$412
• − Insurance: −$60
• − Repairs & maintenance: −$809
• − Management: −$809
• − Depreciation: −$349
• Taxable income: $7,002
• Est. tax owed @ 24.0%: −$1,681
• After-tax cash flow: $5,082/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

-22.2% since first listed

3 events — show timeline

• 2026-04-16 Price Changed $14,000 THAAR
• 2026-04-02 Price Changed $16,000 THAAR
• 2026-03-19 Listed $18,000 THAAR

Property tax history

-5.7%/yr

Latest (2024): $412 · +8.4% YoY. Source: county tax records.