1422 Barbour Ave · Terre Haute, IN 47804

$58,900

3 bd · 1.0 ba · 2,876 sqft · SingleFamily public records · 56 Days on market

Built 1905 5,227 sqft lot $20/sqft · 58% below area

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Livability +3.8/5.0
• Schools +2.9/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Calling all cash-buying investors! Seize the opportunity to bring this home back to its former glory. This 1.5-story property offers 3 bedrooms, 1 full bath, and a two-car attached garage with a unique layout—featuring a half story above the garage for added space and flexibility. Ready to be refinished, this home is a prime value-add opportunity with plenty of potential for the right vision. Conveniently located on the north end near shopping, dining, and schools. Ready to be refinished, this home is a prime value-add opportunity with plenty of potential for the right vision. Don't miss out and make it your own!

Key facts

• Unique layout
• 5,227 sq ft lot
• 2 garage spots

Tags

• UNIQUE LAYOUT
• HALF STORY ABOVE GARAGE
• PRIME VALUE-ADD OPPORTUNITY

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $59k.

Deal economics

• At list price, monthly cash flow is $572 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $59k).
• Recommended offer: $57k (3.0% below list) — sets the bar for market timing.
• Cap rate 18.0% 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: 65 active listings in the ZIP; lower-income renter base — watch delinquency; 60 units permitted in Vigo County in 2024 (0 in 5+ unit buildings).
• This rent runs 36% of the median local income ($41k/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 $407 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 + 3.0% rent growth), your $16k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 56 days — a 3% lower offer ($57k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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 $45k; 31% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1905 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $57,133 (3.0% below list)

Questions for the listing agent

1. It's been on market 56 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1905 — 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. 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.
7. 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.
8. 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: 2.08% ✓
• Cap rate: 17.95%
• Cash-on-cash: 41.65%
• DSCR: 2.85
• GRM: 4.0

CMA / ARV

• ARV (median comp): $140,385
• List price: $58,900
• Delta: -58.04%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 9 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1422 Barbour Ave	0.00mi	3/1.0	2,876 (0%)	8mo	$45,000	$16	94
2022 N 13th 1/2 St	0.40mi	3/1.0	2,594 (-10%)	2mo	$66,000	$25	64
2512 N 14th 1/2 St	0.18mi	3/2.0	3,132 (+9%)	14mo	$85,000	$27	61
2105 N 10th St	0.48mi	3/3.0	3,175 (+10%)	4mo	$339,900	$107	49
3060 N 16th St	0.61mi	3/1.0	2,600 (-10%)	12mo	$31,500	$12	45
2004 N 21st St	0.61mi	3/1.0	2,520 (-12%)	8mo	$68,000	$27	45
2545 N 8th St	0.61mi	3/2.0	2,493 (-13%)	3mo	$230,000	$92	43
1718 Garfield Ave	0.62mi	3/2.0	2,537 (-12%)	13mo	$99,000	$39	37
1926 N 8th St	0.71mi	4/1.5 (+1)	2,448 (-15%)	2mo	$47,500	$19	33

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 38.3%
• Equity multiple: 2.63×
• Total profit: $26,921
• Equity at exit: $8,782

10-year hold

• IRR: 44.8%
• Equity multiple: 5.27×
• Total profit: $70,425
• Equity at exit: $5,093

Cash invested: $16,492 (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 47804

• Home prices YoY: -24.2%
• Active inventory: 65
• Price-to-rent: 4.0×

Monthly cashflow live

• Estimated rent: $1,222 medium
• Mortgage (P&I): −$309
• Tax from tax record: −$60 /mo · $717/yr
• Insurance: −$25
• HOA: −$0
• Vacancy / Maint / Mgmt: −$257
• Net cashflow: $572

Break-even live

Break-even rent $498

Max offer price $58,900

Occupancy floor 48%

Sensitivity live

Price	-10% $606	-5% $589	+0% $572	+5% $556	+10% $539
Rent	-10% $476	-5% $524	+0% $572	+5% $621	+10% $669
Rate	-1.0pp $602	-0.5pp $587	base $572	+0.5pp $557	+1.0pp $542

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: $14,725
• Closing costs: $1,767
• Reserves months: —
• Total cash needed: —

Listing history 13 events

1. 2026-06-10
   days on market $58,900 Active 56 DOM
2. 2026-06-09
   days on market $58,900 Active 55 DOM
3. 2026-06-08
   days on market $58,900 Active 54 DOM
4. 2026-06-07
   days on market $58,900 Active 53 DOM
5. 2026-06-05
   days on market $58,900 Active 50 DOM
6. 2026-06-02
   days on market $58,900 Active 48 DOM
7. 2026-06-01
   days on market $58,900 Active 47 DOM
8. 2026-05-31
   days on market $58,900 Active 46 DOM
9. 2026-05-30
   days on market $58,900 Active 45 DOM
10. 2026-04-16
    listed $58,900 Active 626-char remark

    Show marketing remark (626 chars)

    Calling all cash-buying investors! Seize the opportunity to bring this home back to its former glory. This 1.5-story property offers 3 bedrooms, 1 full bath, and a two-car attached garage with a unique layout—featuring a half story above the garage for added space and flexibility. Ready to be refinished, this home is a prime value-add opportunity with plenty of potential for the right vision. Conveniently located on the north end near shopping, dining, and schools. Ready to be refinished, this home is a prime value-add opportunity with plenty of potential for the right vision. Don't miss out and make it your own!

11. 2025-10-31
    soldstatus $45,000 Closed
12. 2025-10-20
    status Pending
13. 2025-10-07
    listed $49,500 Active

ⓘ 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: $717 · $60/mo
• Projected year-2 tax: $717 · $60/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: $14,667
• − Mortgage interest: −$3,299
• − Property taxes: −$717
• − Insurance: −$294
• − Repairs & maintenance: −$1,173
• − Management: −$1,173
• − Depreciation: −$1,713
• Taxable income: $6,296
• Est. tax owed @ 24.0%: −$1,511
• After-tax cash flow: $5,358/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): 10,553
• Household income: $40,674
• Rent vs Own: 42.4% rent · 57.6% own
• Severe rent burden: 414.0

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 (81%)
• Race & ethnicity: White 81% Hispanic / Latino 7% Black 6% Two or more races 5%
• Hispanic origin (detail): Mexican 5% Puerto Rican 1%
• Common ancestry: Slovak 4% Lithuanian 3% Romanian 2%
• Foreign-born: 4% · Canada, China
• Languages at home: 92% English-only · Spanish 7% 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: ▼ -52.33%
• Current HPI: 164.2961
• Rent YoY: —
• 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

+19.0% since first listed

4 events — show timeline

• 2026-04-16 Listed $58,900 THAAR
• 2025-10-31 Sold (MLS) $45,000 THAAR
• 2025-10-20 Pending — THAAR
• 2025-10-07 Listed $49,500 THAAR

Property tax history

-0.7%/yr

Latest (2024): $717 · +27.1% YoY. Source: county tax records.