1003 N 7th St · Terre Haute, IN 47807

$59,000

2 bd · 1.0 ba · 1,341 sqft · SingleFamily public records · 1 Days on market

Built 1900 Est $75k · 21% under

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Why this score? — see what drove the A- 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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +7.1/10.0
• Livability +3.8/5.0
• Rent growth +3.4/5.0
• Schools +2.9/10.0
• Condition / age +2.5/5.0

Listing remarks

In great rental neighborhood two blocks north of Indiana State university. It is also 2 blocks from Union Hospital the areas largest employer. Outside is a parklike view. House can accommodate 4 bedrooms when using the upstairs loft. Recent new windows in 2 bedrooms and hvac is about 6 years old. Recently painted all of main floor. Rents for $850 mo. Needs some work : two bedrooms need carpeting. Kitchen oven needs replaced. The fridge is brand new. Upstairs Studio need carpet and paint. Recent plumbing upgraded. Elderly owner is selling rentals one at a time.

Key facts

• Parklike view
• Recent new windows
• Brand new fridge

Tags

• PARKLIKE VIEW
• RECENT NEW WINDOWS
• RECENT PLUMBING UPGRADED
• BRAND NEW FRIDGE

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $59k.

Deal economics

• At list price, monthly cash flow is $491 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $59k).
• Cap rate 16.3% 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 (+3.7%/yr); 78 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; lower-income renter base — watch delinquency; 60 units permitted in Vigo County in 2024 (0 in 5+ unit buildings).
• At $1,126/mo this rent would consume 55% of the median local household income ($25k/yr) (locally 1836% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• In year one you build about $3k of equity ($408 loan paydown + $2k appreciation (4.1% local appreciation)).
• Vigo County population projected to shrink 5% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (4.1% appreciation + 3.7% rent growth), your $17k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $59,000

Questions for the listing agent

1. Built in 1900 — 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: 1.91% ✓
• Cap rate: 16.28%
• Cash-on-cash: 35.67%
• DSCR: 2.59
• GRM: 4.4

CMA / ARV

• ARV (on-the-fly): $75,096
• Comps found: 10

Show comp detail 10 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1006 N 9th St	0.13mi	2/1.0	1,338 (-0%)	1mo	$115,000	$86	92
1116 N 8th St	0.12mi	3/1.0 (+1)	1,322 (-1%)	17mo	$34,000	$26	73
917 N 9th St	0.18mi	3/1.0 (+1)	1,423 (+6%)	5mo	$42,750	$30	72
917 7th Ave	0.36mi	3/1.0 (+1)	1,312 (-2%)	7mo	$85,000	$65	69
1204 Ash St	0.71mi	1/1.0 (-1)	1,344 (+0%)	2mo	$74,750	$56	60
1642 Garfield Ave	0.62mi	3/1.5 (+1)	1,328 (-1%)	5mo	$137,500	$104	59
136 8th Ave	0.63mi	2/1.5	1,432 (+7%)	4mo	$110,000	$77	54
1901 N 6th St	0.71mi	2/1.0	1,280 (-4%)	23mo	$35,000	$27	40
726 N 14th 1/2 St	0.69mi	1/1.0 (-1)	1,222 (-9%)	10mo	$31,000	$25	39
1427 6th Ave	0.71mi	3/1.0 (+1)	1,160 (-14%)	6mo	$64,000	$55	34

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

4.14% appreciation · 3.74% rent growth · sell at horizon

5-year hold

• IRR: 43.7%
• Equity multiple: 3.60×
• Total profit: $42,882
• Equity at exit: $30,406

10-year hold

• IRR: 42.7%
• Equity multiple: 7.41×
• Total profit: $105,813
• Equity at exit: $50,127

Cash invested: $16,520 (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 47807

• Home prices YoY: 2.8%
• Rents YoY: 3.7%
• Active inventory: 78
• Price-to-rent: 4.4×

Monthly cashflow live

• Estimated rent: $1,126 high
• Mortgage (P&I): −$309
• Tax from tax record: −$65 /mo · $774/yr
• Insurance: −$25
• HOA: −$0
• Vacancy / Maint / Mgmt: −$236
• Net cashflow: $491

Break-even live

Break-even rent $504

Max offer price $59,000

Occupancy floor 51%

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: $14,750
• Closing costs: $1,770
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1028 N 9th St Terre Haute, IN	2.0	1.0	960	$1,200	$1.25	44d	1	0.14mi
1432 4th Ave Terre Haute, IN	3.0	1.0	1144	$1,000	$0.87	44d	1	0.71mi
1 Sycamore St Terre Haute, IN	2.0	2.0	1311	$1,510	$1.15	44d	1	0.79mi
2124 1st Ave Terre Haute, IN	2.0	1.0	1208	$899	$0.74	44d	1	1.13mi
2250 Garfield Ave Terre Haute, IN	3.0	1.0	1500	$1,375	$0.92	44d	1	1.13mi
2206 2nd Ave Terre Haute, IN	2.0	1.0	1664	$785	$0.47	44d	1	1.17mi
600 S Center St Unit 602 Terre Haute, IN	3.0	1.5	1500	$2,500	$1.67	44d	1	1.28mi
1701 Ohio St Unit C Terre Haute, IN	2.0	1.0	880	$950	$1.08	44d	1	1.30mi

Listing history 1 events

1. 2019-12-06
   listed $265,000

ⓘ 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: $774 · $65/mo
• Projected year-2 tax: $774 · $65/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 ≥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: $13,512
• − Mortgage interest: −$3,305
• − Property taxes: −$774
• − Insurance: −$295
• − Repairs & maintenance: −$1,081
• − Management: −$1,081
• − Depreciation: −$1,716
• Taxable income: $5,260
• Est. tax owed @ 24.0%: −$1,262
• After-tax cash flow: $4,630/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): 13,140
• Household income: $24,706
• Rent vs Own: 73.5% rent · 26.5% own
• Severe rent burden: 1836.0

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 (74%)
• Race & ethnicity: White 74% Black 14% Two or more races 8% Hispanic / Latino 4%
• Common ancestry: Slovak 4% Romanian 2% Lithuanian 1%
• Foreign-born: 3% · Canada
• Languages at home: 94% English-only · Spanish 4% Arabic 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: ▲ 4.14%
• Current HPI: 152.8073
• Rent YoY: ▲ 3.74%
• 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

• 2019-12-06 Listed $265,000 THAAR

Property tax history

-7.6%/yr

Latest (2024): $774 · -42.3% YoY. Source: county tax records.