120 Blakely Ave · Terre Haute, IN 47803

$132,500

5 bd · 1.0 ba · 1,736 sqft · SingleFamily public records · 17 Days on market

Built 1910 6,098 sqft lot

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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
• DSCR +10.0/10.0
• 1% rule +9.0/10.0
• ARV discount +7.5/15.0
• 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 MLS

Looking for a spacious home with a great price and a convenient location? Check out this 4-5 bedroom home w/ so much to offer! Inside you will find hardwoods, a large kitchen, 2-3 bdrms on the main floor w/ 2 additional bdrms upstairs, and a nice area off the kitchen perfect for a mud room or extra pantry space. The living room has french doors leading to a den, the possible 5th bdrm, or even a dining room. The dry basement has a large room w/ carpet giving additional space for a playroom or family room. Outside is a covered front porch and 2 car detached garage. This home would also make for a smart investment property as it has been a successful rental and would be ideal for several college students or a family. Close to schools, shopping, and the Heritage Trail. Taxes will be much less w/ exemptions. Call Tracey Barrett for a tour @ [phone]!

Key facts

• Covered front porch
• Large kitchen
• Hardwood floors

Tags

• HARDWOOD FLOORS
• LARGE KITCHEN
• COVERED FRONT PORCH
• DETACHED TWO-CAR GARAGE

Property features AI

Exterior

• Parking: Detached garage; 1 garage space; Concrete driveway/parking
• Utilities: Public sewer
• Home design: Single-family residence; Residential property; 2 stories
• Construction: Metal siding; Shingle roof
• Exterior features: Covered porch/patio

Interior

• Kitchen: Electric range; Electric oven; Refrigerator
• Flooring: Hardwood floors
• Bathrooms: 1 full bathroom
• Heating & cooling: Natural gas heating; Central air conditioning; Ceiling fans
• Interior features: Electric range; Electric oven; Refrigerator; Partial, unfinished basement

What this means for you Summary

Snapshot

• This is a 5-bed/1.0-bath single-family listed at $132k.

Deal economics

• At list price, monthly cash flow is $554 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $132k).
• Recommended offer: $131k (1.5% below list) — sets the bar for market timing.
• Cap rate 11.3% 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: Lost Creek Elementary School (math 62% / reading 54%, grade C+, #160 of 994 statewide, top 17%, 735 students, 48% 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).
• 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).
• This rent runs 37% of the median local income ($61k/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 $916 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.
• At projected returns (-3.0% appreciation + 4.1% rent growth), your $37k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 17 days — a 2% lower offer ($131k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 6y 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 $44k; list at $132k implies a 198% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1910 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $130,512 (1.5% below list)

Questions for the listing agent

1. Built in 1910 — 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: 1.40% ✓
• Cap rate: 11.31%
• Cash-on-cash: 17.92%
• DSCR: 1.80
• GRM: 6.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 4.09% rent growth · sell at horizon

5-year hold

• IRR: 10.7%
• Equity multiple: 1.43×
• Total profit: $15,894
• Equity at exit: $19,756

10-year hold

• IRR: 20.6%
• Equity multiple: 2.83×
• Total profit: $67,977
• Equity at exit: $11,456

Cash invested: $37,100 (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: 6.0×

Monthly cashflow live

• Estimated rent: $1,849 medium
• Mortgage (P&I): −$695
• Tax from tax record: −$157 /mo · $1,881/yr
• Insurance: −$55
• HOA: −$0
• Vacancy / Maint / Mgmt: −$388
• Net cashflow: $554

Break-even live

Break-even rent $1,148

Max offer price $132,500

Occupancy floor 65%

Sensitivity live

Price	-10% $629	-5% $592	+0% $554	+5% $517	+10% $479
Rent	-10% $408	-5% $481	+0% $554	+5% $627	+10% $700
Rate	-1.0pp $621	-0.5pp $588	base $554	+0.5pp $520	+1.0pp $485

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: $33,125
• Closing costs: $3,975
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2639 Fenwood Ave Terre Haute, IN	5.0	1.5	2056	$1,495	$0.73	45d	1	0.94mi
1728 N 24th St Terre Haute, IN	4.0	2.0	1922	$1,035	$0.54	45d	1	1.42mi

Listing history 14 events

1. 2026-06-21
   days on market $132,500 Active 17 DOM
2. 2026-06-19
   days on market $132,500 Active 15 DOM
3. 2026-06-18
   days on market $132,500 Active 14 DOM
4. 2026-06-17
   days on market $132,500 Active 13 DOM
5. 2026-06-16
   days on market $132,500 Active 12 DOM
6. 2026-06-15
   days on market $132,500 Active 11 DOM
7. 2026-06-14
   days on market $132,500 Active 9 DOM
8. 2026-06-13
   days on market $132,500 Active 8 DOM
9. 2026-06-10
   days on market $132,500 Active 6 DOM
10. 2026-06-09
    days on market $132,500 Active 5 DOM
11. 2026-06-08
    days on market $132,500 Active 4 DOM
12. 2026-06-07
    days on market $132,500 Active 3 DOM
13. 2026-06-05
    remarks 699-char remark
14. 2026-06-05
    listed $132,500 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: $1,881 · $157/mo
• Projected year-2 tax: $1,881 · $157/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 ≥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: $22,191
• − Mortgage interest: −$7,422
• − Property taxes: −$1,881
• − Insurance: −$662
• − Repairs & maintenance: −$1,775
• − Management: −$1,775
• − Depreciation: −$3,855
• Taxable income: $4,821
• Est. tax owed @ 24.0%: −$1,157
• After-tax cash flow: $5,492/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

+141.3% since first listed

7 events — show timeline

• 2026-06-04 Listed $132,500 THAAR
• 2025-03-27 Rental Removed $1,100 APPFOLIO
• 2025-03-18 Listed for Rent $1,100 APPFOLIO
• 2023-12-31 Rental Removed $1,000 APPFOLIO
• 2023-12-19 Listed for Rent $1,000 APPFOLIO
• 2020-03-13 Sold (MLS) $44,500 THAAR
• 2020-01-11 Listed $54,900 THAAR

Property tax history

-2.7%/yr

Latest (2024): $1,881 · +4.8% YoY. Source: county tax records.