2801 Fenwood Ave · Terre Haute, IN 47803

$110,000

2 bd · 1.0 ba · 934 sqft · SingleFamily public records · 2 Days on market

Built 1922 5,320 sqft lot Est $114k · at est.

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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 +21.5/30.0
• ARV discount +9.1/15.0
• DSCR +6.9/10.0
• 1% rule +4.8/10.0
• 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

This charming 2-bedroom, 1-bath bungalow offers the perfect blend of cozy residential living and unbeatable proximity to Indiana State University’s Memorial Stadium. Located on the city’s east side, this home is an ideal find for first-time buyers, savvy investors, or anyone looking to be near the heart of the action. Major Mechanical Peace of Mind The heavy lifting has already been done. This home features recent high-ticket updates that ensure efficiency and reliability for years to come: Water Heater: Just 1 year old (2025). Roof: Only 3 years old (2023). HVAC System: Approximately 5 years old (2021). Layout & Features Living Space: Classic bungalow architecture with a

Key facts

• 5,320 sq ft lot
• 2 garage spots
• Built 1922

Property features AI

Exterior

• Parking: Detached 2-car garage
• Utilities: Public sewer
• Home design: Single family residence; One story
• Construction: Frame construction
• Exterior features: Shingle roof; Lot approximately 38 x 140; R-1 zoning

Interior

• Kitchen: Electric range; Electric oven; Refrigerator; Disposal
• Flooring: Laminate flooring; Vinyl flooring
• Bathrooms: 1 full bathroom
• Heating & cooling: Natural gas heating; Central air conditioning
• Interior features: Partial basement; Disposal

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $110k.

Deal economics

• At list price, monthly cash flow is $166 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $107k (2.5% below list).
• Recommended offer: $107k (2.5% below list) — sets the bar for 1% rule.
• Cap rate 8.1% 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: 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 North Vigo High School (math 25% / reading 62%, grade F, #191 of 369 statewide, top 52%, 1,507 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; 8 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; 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 $761 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

• Only 2 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 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 $68k; list at $110k implies a 61% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1922 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $107,295 (2.5% below list)

Questions for the listing agent

1. Built in 1922 — 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: 0.98% ✗
• Cap rate: 8.10%
• Cash-on-cash: 6.46%
• DSCR: 1.29
• GRM: 8.5

CMA / ARV

• ARV (on-the-fly): $113,948
• Comps found: 11

Show comp detail 11 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2801 Fenwood Ave	0.00mi	2/1.0	934 (0%)	1mo	$118,000	$126	99
2802 Fenwood Ave	0.02mi	2/1.0	1,040 (+11%)	0mo	$94,500	$91	80
2321 Tippecanoe St	0.38mi	2/1.0	912 (-2%)	1mo	$90,000	$99	78
2530 Mariposa Dr	0.37mi	2/1.0	880 (-6%)	8mo	$134,900	$153	67
2334 5th Ave	0.64mi	2/1.0	952 (+2%)	7mo	$10,500	$11	62
19 Marigold Pl	0.43mi	2/1.0	1,008 (+8%)	6mo	$140,000	$139	61
125 S 26th St	0.50mi	3/1.0 (+1)	988 (+6%)	8mo	$143,500	$145	55
2144 Spruce St	0.56mi	2/1.0	1,064 (+14%)	0mo	$40,500	$38	51
111 N 36th St	0.66mi	3/1.0 (+1)	977 (+5%)	8mo	$120,900	$124	50
217 S 25th St	0.59mi	2/2.0	992 (+6%)	22mo	$107,000	$108	40
125 N 36th St	0.66mi	2/1.0	798 (-15%)	6mo	$97,000	$122	40

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: -5.3%
• Equity multiple: 0.80×
• Total profit: $-6,112
• Equity at exit: $16,401

10-year hold

• IRR: 5.5%
• Equity multiple: 1.43×
• Total profit: $13,129
• Equity at exit: $9,511

Cash invested: $30,800 (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: 8.5×

Monthly cashflow live

• Estimated rent: $1,073 high
• Mortgage (P&I): −$577
• Tax from tax record: −$59 /mo · $711/yr
• Insurance: −$46
• HOA: −$0
• Vacancy / Maint / Mgmt: −$225
• Net cashflow: $166

Break-even live

Break-even rent $863

Max offer price $110,000

Occupancy floor 80%

Sensitivity live

Price	-10% $228	-5% $197	+0% $166	+5% $135	+10% $103
Rent	-10% $81	-5% $123	+0% $166	+5% $208	+10% $250
Rate	-1.0pp $221	-0.5pp $194	base $166	+0.5pp $137	+1.0pp $108

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: $27,500
• Closing costs: $3,300
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
433 S 25th St Terre Haute, IN	2.0	1.0	760	$995	$1.31	44d	1	0.92mi
1701 Ohio St Unit C Terre Haute, IN	2.0	1.0	880	$950	$1.08	44d	1	1.06mi
2003 N 22nd St Terre Haute, IN	1.0	1.0	846	$650	$0.77	44d	1	1.10mi
1609 Ohio St Unit 1 Terre Haute, IN, USA Terre Haute, IN	1.0	1.0	700	$785	$1.12	44d	1	1.11mi
4201 Locust St Terre Haute, IN	1.0–3.0	1.0–2.0	1016	$1,428	$1.41	44d	12	1.14mi
435 S 18th St Terre Haute, IN	3.0	1.0	1108	$1,050	$0.95	44d	1	1.20mi
66 Pear Tree Ln Terre Haute, IN	2.0	1.0	868	$875	$1.01	44d	1	1.42mi
1095 Spruce St Unit 2 Bed TBD Terre Haute, IN	2.0	1.0	650	$519	$0.80	44d	1	1.42mi

Listing history 4 events

1. 2026-05-02
   status Pending
2. 2026-04-29
   listed $110,000 Active
3. 2020-10-22
   soldstatus $68,500
4. 2020-08-25
   listed $68,500

ⓘ 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: $711 · $59/mo
• Projected year-2 tax: $823 · $69/mo
• Expected delta: +$112/yr (+$9/mo · 15.8%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 3/10 Moderate FEMA zone X (unshaded) · 20% 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: $12,875
• − Mortgage interest: −$6,162
• − Property taxes: −$711
• − Insurance: −$550
• − Repairs & maintenance: −$1,030
• − Management: −$1,030
• − Depreciation: −$3,200
• Taxable income: $193
• Est. tax owed @ 24.0%: −$46
• After-tax cash flow: $1,942/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

+60.6% since first listed

4 events — show timeline

• 2026-05-02 Pending — THAAR
• 2026-04-29 Listed $110,000 THAAR
• 2020-10-22 Sold (MLS) $68,500 THAAR
• 2020-08-25 Listed $68,500 THAAR

Property tax history

-10.9%/yr

Latest (2024): $711 · +4.3% YoY. Source: county tax records.