2802 Fenwood Ave · Terre Haute, IN 47803

$89,900

2 bd · 1.0 ba · 1,040 sqft · SingleFamily public records · 4 Days on market

Built 1910 5,227 sqft lot Est $103k · 13% 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 +25.1/30.0
• ARV discount +13.2/15.0
• DSCR +8.2/10.0
• 1% rule +6.9/10.0
• 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

Welcome to 2802 Fenwood Ave. , a charming and well-maintained bungalow located on Terre Haute’s Eastside. This inviting 2-bedroom, 1-bath home offers approximately 1,040 finished square feet and features an enclosed front porch that provides the perfect space to relax and unwind year-round. Inside, you’ll find a spacious living room highlighted by a cozy fireplace, a formal dining room ideal for entertaining guests and a functional kitchen with all kitchen appliances included. The washer and dryer shall also remain with the property for the new owner’s convenience. Additional features include a partial basement offering excellent storage space, a fenced backyard perfect fo

Key facts

• Functional kitchen
• Formal dining room
• Partial basement

Tags

• ENCLOSED FRONT PORCH
• COZY FIREPLACE
• FORMAL DINING ROOM
• FUNCTIONAL KITCHEN
• PARTIAL BASEMENT
• FENCED BACKYARD

Property features AI

Exterior

• Parking: Detached garage with 2 spaces; Garage door opener; Gravel parking area
• Utilities: Public sewer
• Home design: Single-family residence; One story
• Construction: Aluminum siding; Shingle roof; Partial, unfinished crawl space basement
• Exterior features: Covered porch

Interior

• Kitchen: Gas oven; Gas range; Microwave; Refrigerator
• Flooring: Carpet; Vinyl
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating (natural gas); Central air conditioning; Ceiling fans
• Interior features: Window coverings and insulated windows; Water softener; Fireplace (1)
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $90k.

Deal economics

• At list price, monthly cash flow is $199 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $90k).
• Cap rate 8.9% 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: Meadows Elementary School (math 37% / reading 37%); 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).
• Market conditions: Rents rising fast (+4.1%/yr); 177 active listings in the ZIP; 11 comparable units currently listed for rent nearby; rentals lingering (median 45d 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 $622 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.
• At projected returns (-3.0% appreciation + 4.1% rent growth), your $25k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 4y 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.

Risks & watch-outs

• Watch-outs: built in 1910 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $89,900

Questions for the listing agent

1. Built in 1910 — 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: 1.19% ✓
• Cap rate: 8.95%
• Cash-on-cash: 9.48%
• DSCR: 1.42
• GRM: 7.0

CMA / ARV

• ARV (on-the-fly): $102,960
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2802 Fenwood Ave	0.00mi	2/1.0	1,040 (0%)	0mo	$94,500	$91	100
2801 Fenwood Ave	0.02mi	2/1.0	934 (-10%)	1mo	$118,000	$126	81
3014 Schaal Ave	0.17mi	2/1.0	1,120 (+8%)	3mo	$30,000	$27	77
2144 Spruce St	0.56mi	2/1.0	1,064 (+2%)	0mo	$40,500	$38	70
2250 Tippecanoe St	0.45mi	2/1.0	1,090 (+5%)	2mo	$60,000	$55	70
19 Marigold Pl	0.46mi	2/1.0	1,008 (-3%)	7mo	$140,000	$139	68
2321 Tippecanoe St	0.38mi	2/1.0	912 (-12%)	1mo	$90,000	$99	61
235 Adams Blvd	0.66mi	2/1.0	1,108 (+6%)	3mo	$175,000	$158	56
125 S 26th St	0.52mi	3/1.0 (+1)	988 (-5%)	8mo	$143,500	$145	55
106 N 21st St	0.73mi	2/1.0	1,078 (+4%)	10mo	$90,000	$83	52
2334 5th Ave	0.62mi	2/1.0	952 (-8%)	7mo	$10,500	$11	51
111 N 36th St	0.65mi	3/1.0 (+1)	977 (-6%)	8mo	$120,900	$124	48

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: -0.7%
• Equity multiple: 0.97×
• Total profit: $-684
• Equity at exit: $13,404

10-year hold

• IRR: 10.1%
• Equity multiple: 1.83×
• Total profit: $20,836
• Equity at exit: $7,773

Cash invested: $25,172 (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: 7.0×

Monthly cashflow live

• Estimated rent: $1,073 high
• Mortgage (P&I): −$471
• Tax from tax record: −$140 /mo · $1,684/yr
• Insurance: −$37
• HOA: −$0
• Vacancy / Maint / Mgmt: −$225
• Net cashflow: $199

Break-even live

Break-even rent $822

Max offer price $89,900

Occupancy floor 76%

Sensitivity live

Price	-10% $250	-5% $224	+0% $199	+5% $173	+10% $148
Rent	-10% $114	-5% $156	+0% $199	+5% $241	+10% $284
Rate	-1.0pp $244	-0.5pp $222	base $199	+0.5pp $175	+1.0pp $152

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: $22,475
• Closing costs: $2,697
• Reserves months: —
• Total cash needed: —

Rent comps 11 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2124 1st Ave Terre Haute, IN	2.0	1.0	1208	$899	$0.74	45d	1	0.68mi
433 S 25th St Terre Haute, IN	2.0	1.0	760	$995	$1.31	45d	1	0.94mi
4201 Locust St Terre Haute, IN	1.0–3.0	1.0–2.0	1016	$1,428	$1.41	45d	12	1.08mi
1701 Ohio St Unit C Terre Haute, IN	2.0	1.0	880	$950	$1.08	45d	1	1.10mi
1915 Poplar St Unit A Terre Haute, IN	3.0	1.0	1412	$1,200	$0.85	45d	1	1.13mi
2003 N 22nd St Terre Haute, IN	1.0	1.0	846	$650	$0.77	45d	1	1.13mi
1609 Ohio St Unit 1 Terre Haute, IN, USA Terre Haute, IN	1.0	1.0	700	$785	$1.12	45d	1	1.15mi
1432 4th Ave Terre Haute, IN	3.0	1.0	1144	$1,000	$0.87	45d	1	1.16mi
435 S 18th St Terre Haute, IN	3.0	1.0	1108	$1,050	$0.95	45d	1	1.24mi
501 S 19th St Terre Haute, IN	2.0	1.0	1200	$975	$0.81	45d	1	1.24mi
66 Pear Tree Ln Terre Haute, IN	2.0	1.0	868	$875	$1.01	45d	1	1.39mi

Listing history 4 events

1. 2026-05-11
   status Pending
2. 2026-05-07
   listed $89,900 Active
3. 2022-05-16
   historical
4. 2022-05-07
   listed $89,900

ⓘ 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: $1,684 · $140/mo
• Projected year-2 tax: $1,684 · $140/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 ≥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: $12,882
• − Mortgage interest: −$5,036
• − Property taxes: −$1,684
• − Insurance: −$450
• − Repairs & maintenance: −$1,031
• − Management: −$1,031
• − Depreciation: −$2,615
• Taxable income: $1,036
• Est. tax owed @ 24.0%: −$249
• After-tax cash flow: $2,137/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

+0.0% since first listed

4 events — show timeline

• 2026-05-11 Pending — THAAR
• 2026-05-07 Listed $89,900 THAAR
• 2022-05-16 Delisted — THAAR
• 2022-05-07 Listed $89,900 THAAR

Property tax history

+12.3%/yr

Latest (2024): $1,684 · +4.7% YoY. Source: county tax records.