1609 7th Ave · Terre Haute, IN 47807

$22,500

3 bd · 1.0 ba · 1,674 sqft · SingleFamily public records · 70 Days on market

Built 1916 $13/sqft · 60% below area ↓ 25% since listing

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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 +15.0/30.0
• ARV discount +7.5/15.0
• Appreciation +7.1/10.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Livability +3.8/5.0
• Rent growth +3.4/5.0
• Schools +2.9/10.0
• Condition / age +2.5/5.0

Listing remarks MLS

Unlock the potential in this 4-bedroom, 2-bath home offering 1,674 square feet of space and an oversized 2-car garage. This property is a blank canvas ready for transformation. Bring your vision and creativity to life! With one bedroom and full bathroom on the main level and three bedrooms and a spacious full bathroom on the second floor, the layout offers a strong foundation for your next project. Whether you're looking to renovate, invest, or create your dream home, the possibilities here are endless.

Key facts

• 2 garage spots
• Built 1916
• Listed 69 days

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $22k.

Deal economics

• At list price, monthly cash flow is $652 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $22k).
• Recommended offer: $21k (6.0% below list) — sets the bar for market timing.
• Cap rate 41.1% 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: 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; 7 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 $1,022/mo this rent would consume 50% 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 $1k of equity ($156 loan paydown + $932 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 $6k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 70 days — a 6% lower offer ($21k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1916 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $21,150 (6.0% below list)

Questions for the listing agent

1. It's been on market 70 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1916 — 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: 4.54% ✓
• Cap rate: 41.06%
• Cash-on-cash: 124.18%
• DSCR: 6.53
• GRM: 1.8

CMA / ARV

• ARV (median comp): $55,933
• List price: $22,500
• Delta: -59.77%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 10 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1458 Maple Ave	0.61mi	4/1.5 (+1)	1,612 (-4%)	1mo	$80,000	$50	57
2124 N 20th St	0.53mi	3/1.0	1,806 (+8%)	8mo	$64,900	$36	56
1908 Plum St	0.20mi	2/1.0 (-1)	1,515 (-10%)	18mo	$105,000	$69	55
1644 Locust St	0.42mi	4/2.0 (+1)	1,836 (+10%)	2mo	$99,000	$54	54
2341 8th Ave	0.48mi	4/2.5 (+1)	1,806 (+8%)	1mo	$132,500	$73	53
930 8th Ave	0.70mi	4/2.0 (+1)	1,560 (-7%)	1mo	$130,000	$83	46
2147 N 21st St	0.59mi	3/2.0	1,594 (-5%)	18mo	$125,000	$78	46
1402 N 26th St	0.66mi	2/1.0 (-1)	1,700 (+2%)	22mo	$44,900	$26	44
1835 N 12 St	0.63mi	2/1.0 (-1)	1,470 (-12%)	9mo	$77,000	$52	38
2134 Hendricks St	0.74mi	3/2.0	1,530 (-9%)	14mo	$95,000	$62	36

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: —
• Equity multiple: 8.37×
• Total profit: $46,403
• Equity at exit: $11,595

10-year hold

• IRR: —
• Equity multiple: 17.91×
• Total profit: $106,524
• Equity at exit: $19,116

Cash invested: $6,300 (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: 1.8×

Monthly cashflow live

• Estimated rent: $1,022 high
• Mortgage (P&I): −$118
• Tax est. 1.5%: −$28 /mo · $338/yr
• Insurance: −$9
• HOA: −$0
• Vacancy / Maint / Mgmt: −$215
• Net cashflow: $652

Break-even live

Break-even rent $197

Max offer price $22,500

Occupancy floor 31%

Sensitivity live

Price	-10% $667	-5% $660	+0% $652	+5% $644	+10% $636
Rent	-10% $571	-5% $612	+0% $652	+5% $692	+10% $733
Rate	-1.0pp $663	-0.5pp $658	base $652	+0.5pp $646	+1.0pp $640

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: $5,625
• Closing costs: $675
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1432 4th Ave Terre Haute, IN	3.0	1.0	1144	$1,000	$0.87	44d	1	0.29mi
2206 2nd Ave Terre Haute, IN	2.0	1.0	1664	$785	$0.47	45d	1	0.41mi
2124 1st Ave Terre Haute, IN	2.0	1.0	1208	$899	$0.74	44d	1	0.43mi
1728 N 24th St Terre Haute, IN	4.0	2.0	1922	$1,035	$0.54	44d	1	0.49mi
2250 Garfield Ave Terre Haute, IN	3.0	1.0	1500	$1,375	$0.92	44d	1	0.88mi
2116 Poplar St Terre Haute, IN	4.0	1.5	1872	$1,900	$1.01	44d	1	1.46mi
1915 Poplar St Unit A Terre Haute, IN	3.0	1.0	1412	$1,200	$0.85	44d	1	1.47mi

Listing history 19 events

1. 2026-06-19
   days on market $22,500 Active 70 DOM
2. 2026-06-18
   days on market $22,500 Active 69 DOM
3. 2026-06-17
   days on market $22,500 Active 68 DOM
4. 2026-06-16
   days on market $22,500 Active 67 DOM
5. 2026-06-15
   days on market $22,500 Active 66 DOM
6. 2026-06-14
   days on market $22,500 Active 64 DOM
7. 2026-06-13
   days on market $22,500 Active 63 DOM
8. 2026-06-10
   days on market $22,500 Active 61 DOM
9. 2026-06-09
   days on market $22,500 Active 60 DOM
10. 2026-06-08
    days on market $22,500 Active 59 DOM
11. 2026-06-07
    days on market $22,500 Active 58 DOM
12. 2026-06-05
    days on market $22,500 Active 55 DOM
13. 2026-06-02
    days on market $22,500 Active 53 DOM
14. 2026-06-01
    days on market $22,500 Active 52 DOM
15. 2026-05-31
    days on market $22,500 Active 51 DOM
16. 2026-05-30
    days on market $22,500 Active 50 DOM
17. 2026-04-29
    price $22,500 508-char remark

    Show marketing remark (508 chars)

    Unlock the potential in this 4-bedroom, 2-bath home offering 1,674 square feet of space and an oversized 2-car garage. This property is a blank canvas ready for transformation. Bring your vision and creativity to life! With one bedroom and full bathroom on the main level and three bedrooms and a spacious full bathroom on the second floor, the layout offers a strong foundation for your next project. Whether you're looking to renovate, invest, or create your dream home, the possibilities here are endless.

18. 2026-04-23
    price $29,000 508-char remark

    Show marketing remark (508 chars)

    Unlock the potential in this 4-bedroom, 2-bath home offering 1,674 square feet of space and an oversized 2-car garage. This property is a blank canvas ready for transformation. Bring your vision and creativity to life! With one bedroom and full bathroom on the main level and three bedrooms and a spacious full bathroom on the second floor, the layout offers a strong foundation for your next project. Whether you're looking to renovate, invest, or create your dream home, the possibilities here are endless.

19. 2026-04-10
    listed $30,000 Active 508-char remark

    Show marketing remark (508 chars)

    Unlock the potential in this 4-bedroom, 2-bath home offering 1,674 square feet of space and an oversized 2-car garage. This property is a blank canvas ready for transformation. Bring your vision and creativity to life! With one bedroom and full bathroom on the main level and three bedrooms and a spacious full bathroom on the second floor, the layout offers a strong foundation for your next project. Whether you're looking to renovate, invest, or create your dream home, the possibilities here are endless.

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

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 ≥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: $12,264
• − Mortgage interest: −$1,260
• − Property taxes: −$338
• − Insurance: −$112
• − Repairs & maintenance: −$981
• − Management: −$981
• − Depreciation: −$655
• Taxable income: $7,937
• Est. tax owed @ 24.0%: −$1,905
• After-tax cash flow: $5,918/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

-25.0% since first listed

3 events — show timeline

• 2026-04-29 Price Changed $22,500 THAAR
• 2026-04-23 Price Changed $29,000 THAAR
• 2026-04-10 Listed $30,000 THAAR

Property tax history

-0.5%/yr

Latest (2024): $1,563 · +4.2% YoY. Source: county tax records.