2531 S 1st St · Terre Haute, IN 47802

$104,900

4 bd · 1.5 ba · 1,449 sqft · SingleFamily public records · 279 Days on market

Built 1915 5,663 sqft lot $72/sqft · 9% below area Est $116k · 9% under

---

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 +28.0/30.0
• ARV discount +11.7/15.0
• DSCR +9.9/10.0
• 1% rule +8.0/10.0
• Livability +3.8/5.0
• Schools +2.9/10.0
• Rent growth +2.8/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Calling all investors! This versatile home features four bedrooms and two kitchens with separate entrances, making it ideal for duplex living. Enjoy the convenience of being near restaurants, shopping, and entertainment. Seize this opportunity to make a smart investment today!

Key facts

• Two kitchens
• Near shopping
• Near restaurants

Tags

• TWO KITCHENS
• SEPARATE ENTRANCES
• DUPLEX LIVING
• NEAR RESTAURANTS
• NEAR SHOPPING
• NEAR ENTERTAINMENT

What this means for you Summary

Snapshot

• This is a 4-bed/1.5-bath single-family listed at $105k.

Deal economics

• At list price, monthly cash flow is $327 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $105k).
• Recommended offer: $92k (12.0% below list) — sets the bar for market timing.
• Cap rate 10.0% 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 (+1.2%/yr); 187 active listings in the ZIP; 1 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 $725 of loan paydown is wiped out by about $3k 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

• It's been on market 279 days — a 12% lower offer ($92k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 6y ago; this cycle's ask has dropped $24k (19%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $30k; list at $105k implies a 250% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1915 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $92,312 (12.0% below list)

Questions for the listing agent

1. It's been on market 279 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1915 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
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: 1.30% ✓
• Cap rate: 10.03%
• Cash-on-cash: 13.35%
• DSCR: 1.59
• GRM: 6.4

CMA / ARV

• ARV (median comp): $115,561
• List price: $104,900
• Delta: -9.23%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2427 Arleth Street St	0.10mi	4/1.5	1,316 (-9%)	6mo	$145,500	$111	75
2815 S 9 1/2 St St	0.67mi	4/2.0	1,380 (-5%)	5mo	$112,000	$81	55
2605 S 10th St	0.72mi	3/1.0 (-1)	1,336 (-8%)	3mo	$156,000	$117	44

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 · 1.23% rent growth · sell at horizon

5-year hold

• IRR: 1.3%
• Equity multiple: 1.05×
• Total profit: $1,462
• Equity at exit: $15,641

10-year hold

• IRR: 9.1%
• Equity multiple: 1.64×
• Total profit: $18,777
• Equity at exit: $9,070

Cash invested: $29,372 (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 47802

• Home prices YoY: -26.8%
• Rents YoY: 1.2%
• Active inventory: 187
• Price-to-rent: 6.4×

Monthly cashflow live

• Estimated rent: $1,361 medium
• Mortgage (P&I): −$550
• Tax from tax record: −$154 /mo · $1,853/yr
• Insurance: −$44
• HOA: −$0
• Vacancy / Maint / Mgmt: −$286
• Net cashflow: $327

Break-even live

Break-even rent $947

Max offer price $104,900

Occupancy floor 71%

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: $26,225
• Closing costs: $3,147
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1201 S 7th St Unit 3 Terre Haute, IN	3.0	1.0	880	$925	$1.05	44d	1	1.18mi

Listing history 28 events

1. 2026-06-19
   days on market $104,900 Active 279 DOM
2. 2026-06-18
   days on market $104,900 Active 278 DOM
3. 2026-06-17
   days on market $104,900 Active 277 DOM
4. 2026-06-16
   days on market $104,900 Active 276 DOM
5. 2026-06-15
   days on market $104,900 Active 275 DOM
6. 2026-06-14
   days on market $104,900 Active 273 DOM
7. 2026-06-13
   days on market $104,900 Active 272 DOM
8. 2026-06-10
   days on market $104,900 Active 270 DOM
9. 2026-06-09
   days on market $104,900 Active 269 DOM
10. 2026-06-08
    days on market $104,900 Active 268 DOM
11. 2026-06-07
    days on market $104,900 Active 267 DOM
12. 2026-06-05
    days on market $104,900 Active 264 DOM
13. 2026-06-02
    days on market $104,900 Active 262 DOM
14. 2026-06-01
    days on market $104,900 Active 261 DOM
15. 2026-05-31
    days on market $104,900 Active 260 DOM
16. 2026-05-30
    days on market $104,900 Active 259 DOM
17. 2026-04-10
    status Active 277-char remark

    Show marketing remark (277 chars)

    Calling all investors! This versatile home features four bedrooms and two kitchens with separate entrances, making it ideal for duplex living. Enjoy the convenience of being near restaurants, shopping, and entertainment. Seize this opportunity to make a smart investment today!

18. 2026-02-18
    status Pending 277-char remark

    Show marketing remark (277 chars)

    Calling all investors! This versatile home features four bedrooms and two kitchens with separate entrances, making it ideal for duplex living. Enjoy the convenience of being near restaurants, shopping, and entertainment. Seize this opportunity to make a smart investment today!

19. 2025-11-24
    price $104,900 277-char remark

    Show marketing remark (277 chars)

    Calling all investors! This versatile home features four bedrooms and two kitchens with separate entrances, making it ideal for duplex living. Enjoy the convenience of being near restaurants, shopping, and entertainment. Seize this opportunity to make a smart investment today!

20. 2025-10-08
    price $115,000 277-char remark

    Show marketing remark (277 chars)

    Calling all investors! This versatile home features four bedrooms and two kitchens with separate entrances, making it ideal for duplex living. Enjoy the convenience of being near restaurants, shopping, and entertainment. Seize this opportunity to make a smart investment today!

21. 2025-08-07
    status Active 277-char remark

    Show marketing remark (277 chars)

    Calling all investors! This versatile home features four bedrooms and two kitchens with separate entrances, making it ideal for duplex living. Enjoy the convenience of being near restaurants, shopping, and entertainment. Seize this opportunity to make a smart investment today!

22. 2025-07-28
    status Pending 277-char remark

    Show marketing remark (277 chars)

    Calling all investors! This versatile home features four bedrooms and two kitchens with separate entrances, making it ideal for duplex living. Enjoy the convenience of being near restaurants, shopping, and entertainment. Seize this opportunity to make a smart investment today!

23. 2025-07-14
    listed $129,000 Active 277-char remark

    Show marketing remark (277 chars)

    Calling all investors! This versatile home features four bedrooms and two kitchens with separate entrances, making it ideal for duplex living. Enjoy the convenience of being near restaurants, shopping, and entertainment. Seize this opportunity to make a smart investment today!

24. 2023-05-05
    status Pending
25. 2023-04-10
    price $124,900
26. 2023-03-20
    listed $129,900 Active
27. 2020-04-15
    soldstatus $30,000
28. 2020-02-26
    listed $35,900

ⓘ 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: $1,853 · $154/mo
• Projected year-2 tax: $1,853 · $154/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 3/10 Moderate
• 🌡 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 2 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $16,328
• − Mortgage interest: −$5,876
• − Property taxes: −$1,853
• − Insurance: −$524
• − Repairs & maintenance: −$1,306
• − Management: −$1,306
• − Depreciation: −$3,052
• Taxable income: $2,410
• Est. tax owed @ 24.0%: −$578
• After-tax cash flow: $3,342/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): 33,135
• Household income: $57,395
• Rent vs Own: 41.0% rent · 59.0% own
• Severe rent burden: 1102.0

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 (82%)
• Race & ethnicity: White 82% Black 8% Two or more races 5% Hispanic / Latino 3% Asian 3%
• Common ancestry: Lithuanian 3% Slovak 2% Serbian 2%
• Foreign-born: 3% · China, Canada
• Languages at home: 96% English-only · Spanish 1% Other Indo-European 1% Chinese 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: ▼ -67.05%
• Current HPI: 183.0194
• Rent YoY: ▲ 1.23%
• 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

+192.2% since first listed

12 events — show timeline

• 2026-04-10 Relisted — THAAR
• 2026-02-18 Pending — THAAR
• 2025-11-24 Price Changed $104,900 THAAR
• 2025-10-08 Price Changed $115,000 THAAR
• 2025-08-07 Relisted — THAAR
• 2025-07-28 Pending — THAAR
• 2025-07-14 Listed $129,000 THAAR
• 2023-05-05 Pending — THAAR
• 2023-04-10 Price Changed $124,900 THAAR
• 2023-03-20 Listed $129,900 THAAR
• 2020-04-15 Sold (MLS) $30,000 THAAR
• 2020-02-26 Listed $35,900 THAAR

Property tax history

+79.4%/yr

Latest (2024): $1,853 · +4.6% YoY. Source: county tax records.