2608 College Ave · Terre Haute, IN 47803

$154,900

4 bd · 1.0 ba · 2,208 sqft · SingleFamily public records · 5 Days on market

Built 1925 5,227 sqft lot Est $212k · 27% under

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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 +26.7/30.0
• ARV discount +15.0/15.0
• DSCR +9.2/10.0
• 1% rule +6.3/10.0
• 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

Simple pleasures abound in this terrific family home on the growing east side. This charming bungalow says "welcome home" with the relaxing covered front porch to melt the stress away! Lovely hardwood floors and original woodwork in the expansive living room, dining room and both main floor bedrooms. Updated kitchen features a cozy breakfast nook and all appliances. 2 bedrooms on the main level 2 additional bedrooms upstairs, each with 2 closets and built-in desks. (Upstairs bedrooms are heated with wired in baseboards). Great updated bath with additional storage and laundry chute in the hall. Closets are everywhere including a huge pantry off the kitchen. The clean and dry baseme

Key facts

• Covered front porch
• Breakfast nook
• Huge pantry

Tags

• COVERED FRONT PORCH
• HARDWOOD FLOORS
• ORIGINAL WOODWORK
• UPDATED KITCHEN
• BREAKFAST NOOK
• HUGE PANTRY

Property features AI

Exterior

• Parking: Attached garage with 2 spaces; Concrete driveway; Garage door opener
• Utilities: Public sewer
• Home design: Single family residence; One story
• Construction: Vinyl siding; Shingle roof
• Exterior features: Covered patio; Shed(s)

Interior

• Kitchen: Electric range; Electric oven; Microwave; Dishwasher; Refrigerator; Water softener
• Flooring: Carpet; Hardwood
• Bathrooms: 1 full bathroom
• Heating & cooling: Central air; Ceiling fan(s); Forced air heating; Baseboard heating; Natural gas heating
• Interior features: Walk-in closets; Window coverings; Insulated windows; Partially finished partial crawlspace basement
• Laundry & utility: Dryer

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $155k.

Deal economics

• At list price, monthly cash flow is $421 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $155k).
• Cap rate 9.6% 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: 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; 3 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).
• This rent runs 35% 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 $1k of loan paydown is wiped out by about $5k 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 $43k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• Only 5 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1925 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $154,900

Questions for the listing agent

1. Built in 1925 — 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: 1.13% ✓
• Cap rate: 9.55%
• Cash-on-cash: 11.64%
• DSCR: 1.52
• GRM: 7.4

CMA / ARV

• ARV (on-the-fly): $211,968
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2514 Crawford St	0.25mi	3/1.0 (-1)	2,080 (-6%)	2mo	$200,000	$96	72
1009 S 23rd St St	0.24mi	3/2.0 (-1)	2,322 (+5%)	1mo	$142,000	$61	70
2920 Dean Ave	0.28mi	4/1.5	2,400 (+9%)	5mo	$25,000	$10	67
615 S 32nd St	0.45mi	4/2.0	2,332 (+6%)	2mo	$260,000	$111	65
3028 Franklin St	0.30mi	3/1.0 (-1)	1,978 (-10%)	1mo	$215,000	$109	63
64 E Heritage Dr	0.63mi	4/2.0	2,096 (-5%)	1mo	$274,900	$131	58
1115 S 17th St	0.74mi	4/2.0	2,276 (+3%)	0mo	$41,900	$18	56
1030 S 17th St	0.71mi	4/2.0	2,312 (+5%)	2mo	$149,900	$65	53
1501 S 19th St	0.70mi	3/2.5 (-1)	2,200 (-0%)	3mo	$80,000	$36	53
941 S 38th St	0.71mi	3/2.0 (-1)	2,154 (-2%)	3mo	$327,500	$152	51
718 S 17th St	0.73mi	4/2.0	2,053 (-7%)	2mo	$167,900	$82	48
1542 S Birch Grove St St	0.62mi	3/2.0 (-1)	2,360 (+7%)	7mo	$334,900	$142	45

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: 2.1%
• Equity multiple: 1.08×
• Total profit: $3,607
• Equity at exit: $23,096

10-year hold

• IRR: 12.7%
• Equity multiple: 2.05×
• Total profit: $45,654
• Equity at exit: $13,393

Cash invested: $43,372 (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 47803

• Home prices YoY: -28.6%
• Rents YoY: 4.1%
• Active inventory: 177
• Price-to-rent: 7.4×

Monthly cashflow live

• Estimated rent: $1,754 medium
• Mortgage (P&I): −$812
• Tax from tax record: −$88 /mo · $1,055/yr
• Insurance: −$65
• HOA: −$0
• Vacancy / Maint / Mgmt: −$368
• Net cashflow: $421

Break-even live

Break-even rent $1,221

Max offer price $154,900

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: $38,725
• Closing costs: $4,647
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2116 Poplar St Terre Haute, IN	4.0	1.5	1872	$1,900	$1.01	44d	1	0.66mi
1915 Poplar St Unit A Terre Haute, IN	3.0	1.0	1412	$1,200	$0.85	44d	1	0.74mi
2639 Fenwood Ave Terre Haute, IN	5.0	1.5	2056	$1,495	$0.73	44d	1	1.29mi

Listing history 6 events

1. 2026-06-15
   status $154,900 Pending 5 DOM
2. 2026-06-15
   days on market $154,900 Active 5 DOM
3. 2026-06-14
   days on market $154,900 Active 3 DOM
4. 2026-06-13
   days on market $154,900 Active 2 DOM
5. 2026-06-09
   remarks 689-char remark
6. 2026-06-09
   listed $154,900 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: $1,055 · $88/mo
• Projected year-2 tax: $1,186 · $99/mo
• Expected delta: +$131/yr (+$11/mo · 12.4%)

ⓘ 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: $21,047
• − Mortgage interest: −$8,677
• − Property taxes: −$1,055
• − Insurance: −$774
• − Repairs & maintenance: −$1,684
• − Management: −$1,684
• − Depreciation: −$4,506
• Taxable income: $2,667
• Est. tax owed @ 24.0%: −$640
• After-tax cash flow: $4,410/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

1 event — show timeline

• 2026-06-08 Listed $154,900 THAAR

Property tax history

+3.5%/yr

Latest (2024): $1,055 · +4.6% YoY. Source: county tax records.