1915 Poplar St · Terre Haute, IN 47803

$215,000

3 bd · 3.0 ba · 2,824 sqft · MultiFamily public records · 1 Days on market

Built 1890 7,405 sqft lot

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Why this score? — see what drove the D- 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 +10.0/30.0
• ARV discount +7.5/15.0
• Livability +3.8/5.0
• Rent growth +3.5/5.0
• Schools +2.9/10.0
• DSCR +2.8/10.0
• Condition / age +2.5/5.0
• 1% rule +2.1/10.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks

The sale of this house is part of a portfolio sale.

Key facts

• 7,405 sq ft lot
• Built 1890

What this means for you Summary

Snapshot

• This is a 3-bed/3.0-bath multifamily listed at $215k.

Deal economics

• At list price, monthly cash flow is $-131 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $192k (10.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $154k (28.5% below list).
• Recommended offer: $154k (28.5% below list) — sets the bar for 1% rule.

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: Davis Park Elementary School (math 32% / reading 27%, grade F, #697 of 994 statewide, top 73%, 335 students, 88% FRL); 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) — zoned schools average 67% FRL vs 47% district-wide (20 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising fast (+4.1%/yr); 177 active listings in the ZIP; 60 units permitted in Vigo County in 2024 (0 in 5+ unit buildings).
• This rent runs 30% 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 $6k 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.

Negotiation context

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

Risks & watch-outs

• Watch-outs: built in 1890 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $153,663 (28.5% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. Built in 1890 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
6. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 0.71% ✗
• Cap rate: 5.56%
• Cash-on-cash: -2.60%
• DSCR: 0.88
• GRM: 11.7

CMA / ARV

• ARV (on-the-fly): $81,896
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
49 S 13th 1/2 St	0.56mi	2/3.0 (-1)	2,550 (-10%)	18mo	$74,000	$29	37

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: -19.6%
• Equity multiple: 0.31×
• Total profit: $-41,512
• Equity at exit: $32,057

10-year hold

• IRR: -10.5%
• Equity multiple: 0.34×
• Total profit: $-39,964
• Equity at exit: $18,589

Cash invested: $60,200 (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: 11.7×

Monthly cashflow live

• Estimated rent: $1,537 medium
• Mortgage (P&I): −$1,127
• Tax from tax record: −$127 /mo · $1,529/yr
• Insurance: −$90
• HOA: −$0
• Vacancy / Maint / Mgmt: −$323
• Net cashflow: $-131

Break-even live

Break-even rent $1,702

Max offer price $191,943

Occupancy floor —

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: $53,750
• Closing costs: $6,450
• Reserves months: —
• Total cash needed: —

Listing history 2 events

1. 2026-04-08
   status Pending
2. 2026-04-03
   listed $215,000 Active

ⓘ 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: $1,529 · $127/mo
• Projected year-2 tax: $1,678 · $140/mo
• Expected delta: +$149/yr (+$12/mo · 9.8%)

ⓘ 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: $18,440
• − Mortgage interest: −$12,043
• − Property taxes: −$1,529
• − Insurance: −$1,075
• − Repairs & maintenance: −$1,475
• − Management: −$1,475
• − Depreciation: −$6,255
• Taxable loss: −$5,412
• Est. tax savings @ 24.0%: +$1,299
• After-tax cash flow: $-267/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

2 events — show timeline

• 2026-04-08 Pending — THAAR
• 2026-04-03 Listed $215,000 THAAR

Property tax history

-3.6%/yr

Latest (2024): $1,529 · +1.9% YoY. Source: county tax records.