2609 Garfield Ave · Terre Haute, IN 47807

$134,900

3 bd · 1.0 ba · 2,642 sqft · SingleFamily public records · 115 Days on market

Built 1900 5,663 sqft lot $51/sqft · 29% below area Est $142k · 5% under

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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 +15.7/30.0
• ARV discount +9.9/15.0
• Appreciation +7.1/10.0
• DSCR +4.8/10.0
• Livability +3.8/5.0
• 1% rule +3.6/10.0
• Rent growth +3.4/5.0
• Schools +2.9/10.0
• Condition / age +2.5/5.0

Listing remarks MLS

Spacious and Inviting home in the Collett Park area. This 3 Bedroom, 1 Bath home has large rooms. The large foyer makes the Living Room feel even large while the home also has a formal Dining Room. Updated bathroom with a nice walk in shower and located on the main level. L-shaped Kitchen includes a refrigerator, gas stove and dishwasher. Laundry is conveniently located on the main level off the kitchen. The upstairs bedroom is quite large and has room for additional living space to be finished or another bathroom added. The landscaping invites you to sit on the covered front porch or perhaps you prefer soaking in the hot tub or roasting marshmallows in the fire pit area in the fenced backyard. Detached one car garage with alley access which is used more for storage Most main level windows have been replaced, HVAC system was replaced in 2021, blown in insulation in 2022, termite treatment was done in 2022, water heater and water softener were replaced in 2024. Call to check out this lovely home today.

Key facts

• Formal dining room
• Large foyer
• L-shaped kitchen

Tags

• LARGE FOYER
• FORMAL DINING ROOM
• UPDATED BATHROOM
• WALK IN SHOWER
• L-SHAPED KITCHEN
• CONVENIENTLY LOCATED LAUNDRY

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $135k.

Deal economics

• At list price, monthly cash flow is $59 ($712/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 $116k (14.1% below list).
• Recommended offer: $116k (14.1% below list) — sets the bar for 1% rule.
• Cap rate 6.8% 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: Terre Town Elementary School (math 43% / reading 35%, grade F, #530 of 994 statewide, top 54%, 556 students, 82% FRL); Otter Creek Middle School (math 13% / reading 25%, grade F, #274 of 330 statewide, top 83%, 787 students, 65% 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 66% FRL vs 47% district-wide (19 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising (+3.7%/yr); 78 active listings in the ZIP; 1 comparable units currently listed for rent nearby; lower-income renter base — watch delinquency; 60 units permitted in Vigo County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $7k of equity ($933 loan paydown + $6k 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 $38k cash investment doubles in ~5 years — after that, you're playing with house money.
• By year 6, paydown + projected appreciation supports a ~$35k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 115 days — a 9% lower offer ($123k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 6y ago; this cycle's ask has dropped $15k (10%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $80k; list at $135k implies a 69% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

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

Recommended offer $115,941 (14.1% below list)

Questions for the listing agent

1. It's been on market 115 days. Have you received any prior offers? Is the seller open to a 14% concession, seller financing, or rate buy-down credit?
2. Built in 1900 — 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: 0.86% ✗
• Cap rate: 6.82%
• Cash-on-cash: 1.89%
• DSCR: 1.08
• GRM: 9.7

CMA / ARV

• ARV (median comp): $142,477
• List price: $134,900
• Delta: -5.32%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 8 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2545 N 8th St	0.35mi	3/2.0	2,493 (-6%)	3mo	$230,000	$92	68
2022 N 13th 1/2 St	0.61mi	3/1.0	2,594 (-2%)	2mo	$66,000	$25	67
2320 N 10th St	0.33mi	3/1.5	2,436 (-8%)	7mo	$279,900	$115	64
1422 Barbour Ave	0.32mi	3/1.0	2,876 (+9%)	8mo	$45,000	$16	64
3060 N 16th St	0.55mi	3/1.0	2,600 (-2%)	12mo	$31,500	$12	61
1414 Maple Ave	0.48mi	2/2.0 (-1)	2,408 (-9%)	5mo	$85,000	$35	50
1121 Maple Ave	0.46mi	3/3.0	2,400 (-9%)	7mo	$133,000	$55	49
1926 N 8th St	0.70mi	4/1.5 (+1)	2,448 (-7%)	2mo	$47,500	$19	46

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: 12.6%
• Equity multiple: 1.77×
• Total profit: $29,203
• Equity at exit: $69,521

10-year hold

• IRR: 14.3%
• Equity multiple: 3.39×
• Total profit: $90,132
• Equity at exit: $114,613

Cash invested: $37,772 (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: 9.7×

Monthly cashflow live

• Estimated rent: $1,159 medium
• Mortgage (P&I): −$707
• Tax from tax record: −$93 /mo · $1,116/yr
• Insurance: −$56
• HOA: −$0
• Vacancy / Maint / Mgmt: −$243
• Net cashflow: $59

Break-even live

Break-even rent $1,084

Max offer price $134,900

Occupancy floor 90%

Sensitivity live

Price	-10% $136	-5% $98	+0% $59	+5% $21	+10% $-17
Rent	-10% $-32	-5% $14	+0% $59	+5% $105	+10% $151
Rate	-1.0pp $127	-0.5pp $94	base $59	+0.5pp $24	+1.0pp $-11

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: $33,725
• Closing costs: $4,047
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1728 N 24th St Terre Haute, IN	4.0	2.0	1922	$1,035	$0.54	45d	1	1.21mi

Listing history 24 events

1. 2026-06-21
   days on market $134,900 Active 115 DOM
2. 2026-06-19
   days on market $134,900 Active 113 DOM
3. 2026-06-18
   days on market $134,900 Active 112 DOM
4. 2026-06-17
   days on market $134,900 Active 111 DOM
5. 2026-06-16
   days on market $134,900 Active 110 DOM
6. 2026-06-15
   days on market $134,900 Active 109 DOM
7. 2026-06-14
   days on market $134,900 Active 107 DOM
8. 2026-06-13
   days on market $134,900 Active 106 DOM
9. 2026-06-10
   days on market $134,900 Active 104 DOM
10. 2026-06-09
    days on market $134,900 Active 103 DOM
11. 2026-06-08
    days on market $134,900 Active 102 DOM
12. 2026-06-07
    days on market $134,900 Active 101 DOM
13. 2026-06-05
    days on market $134,900 Active 98 DOM
14. 2026-06-02
    days on market $134,900 Active 96 DOM
15. 2026-06-01
    days on market $134,900 Active 95 DOM
16. 2026-05-31
    days on market $134,900 Active 94 DOM
17. 2026-05-30
    days on market $134,900 Active 93 DOM
18. 2026-05-13
    price $134,900 1017-char remark

    Show marketing remark (1017 chars)

    Spacious and Inviting home in the Collett Park area. This 3 Bedroom, 1 Bath home has large rooms. The large foyer makes the Living Room feel even large while the home also has a formal Dining Room. Updated bathroom with a nice walk in shower and located on the main level. L-shaped Kitchen includes a refrigerator, gas stove and dishwasher. Laundry is conveniently located on the main level off the kitchen. The upstairs bedroom is quite large and has room for additional living space to be finished or another bathroom added. The landscaping invites you to sit on the covered front porch or perhaps you prefer soaking in the hot tub or roasting marshmallows in the fire pit area in the fenced backyard. Detached one car garage with alley access which is used more for storage Most main level windows have been replaced, HVAC system was replaced in 2021, blown in insulation in 2022, termite treatment was done in 2022, water heater and water softener were replaced in 2024. Call to check out this lovely home today.

19. 2026-03-27
    price $144,900 1017-char remark

    Show marketing remark (1017 chars)

    Spacious and Inviting home in the Collett Park area. This 3 Bedroom, 1 Bath home has large rooms. The large foyer makes the Living Room feel even large while the home also has a formal Dining Room. Updated bathroom with a nice walk in shower and located on the main level. L-shaped Kitchen includes a refrigerator, gas stove and dishwasher. Laundry is conveniently located on the main level off the kitchen. The upstairs bedroom is quite large and has room for additional living space to be finished or another bathroom added. The landscaping invites you to sit on the covered front porch or perhaps you prefer soaking in the hot tub or roasting marshmallows in the fire pit area in the fenced backyard. Detached one car garage with alley access which is used more for storage Most main level windows have been replaced, HVAC system was replaced in 2021, blown in insulation in 2022, termite treatment was done in 2022, water heater and water softener were replaced in 2024. Call to check out this lovely home today.

20. 2026-03-12
    status Active 1017-char remark

    Show marketing remark (1017 chars)

    Spacious and Inviting home in the Collett Park area. This 3 Bedroom, 1 Bath home has large rooms. The large foyer makes the Living Room feel even large while the home also has a formal Dining Room. Updated bathroom with a nice walk in shower and located on the main level. L-shaped Kitchen includes a refrigerator, gas stove and dishwasher. Laundry is conveniently located on the main level off the kitchen. The upstairs bedroom is quite large and has room for additional living space to be finished or another bathroom added. The landscaping invites you to sit on the covered front porch or perhaps you prefer soaking in the hot tub or roasting marshmallows in the fire pit area in the fenced backyard. Detached one car garage with alley access which is used more for storage Most main level windows have been replaced, HVAC system was replaced in 2021, blown in insulation in 2022, termite treatment was done in 2022, water heater and water softener were replaced in 2024. Call to check out this lovely home today.

21. 2026-03-06
    status Pending 1017-char remark

    Show marketing remark (1017 chars)

    Spacious and Inviting home in the Collett Park area. This 3 Bedroom, 1 Bath home has large rooms. The large foyer makes the Living Room feel even large while the home also has a formal Dining Room. Updated bathroom with a nice walk in shower and located on the main level. L-shaped Kitchen includes a refrigerator, gas stove and dishwasher. Laundry is conveniently located on the main level off the kitchen. The upstairs bedroom is quite large and has room for additional living space to be finished or another bathroom added. The landscaping invites you to sit on the covered front porch or perhaps you prefer soaking in the hot tub or roasting marshmallows in the fire pit area in the fenced backyard. Detached one car garage with alley access which is used more for storage Most main level windows have been replaced, HVAC system was replaced in 2021, blown in insulation in 2022, termite treatment was done in 2022, water heater and water softener were replaced in 2024. Call to check out this lovely home today.

22. 2026-02-19
    listed $149,900 Active 1017-char remark

    Show marketing remark (1017 chars)

    Spacious and Inviting home in the Collett Park area. This 3 Bedroom, 1 Bath home has large rooms. The large foyer makes the Living Room feel even large while the home also has a formal Dining Room. Updated bathroom with a nice walk in shower and located on the main level. L-shaped Kitchen includes a refrigerator, gas stove and dishwasher. Laundry is conveniently located on the main level off the kitchen. The upstairs bedroom is quite large and has room for additional living space to be finished or another bathroom added. The landscaping invites you to sit on the covered front porch or perhaps you prefer soaking in the hot tub or roasting marshmallows in the fire pit area in the fenced backyard. Detached one car garage with alley access which is used more for storage Most main level windows have been replaced, HVAC system was replaced in 2021, blown in insulation in 2022, termite treatment was done in 2022, water heater and water softener were replaced in 2024. Call to check out this lovely home today.

23. 2021-01-12
    soldstatus $80,000 699-char remark

    Show marketing remark (699 chars)

    SPACIOUS and inviting, this three bedroom one bath home offers a huge foyer area with open concept to the bright and over sized living room and dining area. Dining room does have french doors if you prefer privacy while enjoying your meal. Updated bathroom with jet tub and plenty of storage. L-shaped, efficient kitchen includes stove/oven and dishwasher. Laundry is conveniently located on the main level off of the kitchen. The landscaping invites you to sit on the covered front porch or perhaps you prefer the fire pit area in the fenced backyard. Detached one car garage with alley access. Newer roof, furnace and central air are assets to this home. Make an appointment today to see this one!

24. 2020-09-11
    listed $84,900 699-char remark

    Show marketing remark (699 chars)

    SPACIOUS and inviting, this three bedroom one bath home offers a huge foyer area with open concept to the bright and over sized living room and dining area. Dining room does have french doors if you prefer privacy while enjoying your meal. Updated bathroom with jet tub and plenty of storage. L-shaped, efficient kitchen includes stove/oven and dishwasher. Laundry is conveniently located on the main level off of the kitchen. The landscaping invites you to sit on the covered front porch or perhaps you prefer the fire pit area in the fenced backyard. Detached one car garage with alley access. Newer roof, furnace and central air are assets to this home. Make an appointment today to see this one!

ⓘ 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: $1,116 · $93/mo
• Projected year-2 tax: $1,131 · $94/mo
• Expected delta: +$16/yr (+$1/mo · 1.4%)

ⓘ 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: $13,913
• − Mortgage interest: −$7,556
• − Property taxes: −$1,116
• − Insurance: −$674
• − Repairs & maintenance: −$1,113
• − Management: −$1,113
• − Depreciation: −$3,924
• Taxable loss: −$1,584
• Est. tax savings @ 24.0%: +$380
• After-tax cash flow: $1,092/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

+58.9% since first listed

7 events — show timeline

• 2026-05-13 Price Changed $134,900 THAAR
• 2026-03-27 Price Changed $144,900 THAAR
• 2026-03-12 Relisted — THAAR
• 2026-03-06 Pending — THAAR
• 2026-02-19 Listed $149,900 THAAR
• 2021-01-12 Sold (MLS) $80,000 THAAR
• 2020-09-11 Listed $84,900 THAAR

Property tax history

+14.9%/yr

Latest (2024): $1,116 · +4.5% YoY. Source: county tax records.