2279 Berne Ave · Terre Haute, IN 47805

$115,000

4 bd · 2.0 ba · 1,352 sqft · SingleFamily public records · 7 Days on market

Built 1951 6,970 sqft lot $85/sqft · at area comps Est $171k · 33% 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 +28.1/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +6.9/10.0
• Livability +3.8/5.0
• Schools +2.9/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Cute home in Terre Town! This 3 bedroom 2 bath home has been well maintained, and has many updates throughout! Bonus space for a computer room or man cave or craft room. Partial basement for added storage. Large fenced in yard is perfect for the kids' toys or for entertaining.

Key facts

• Added space
• Large fenced-in yard
• Partial basement

Tags

• FUNCTIONAL LAYOUT
• ADDED SPACE
• PARTIAL BASEMENT
• LARGE FENCED-IN YARD

Property features AI

Exterior

• Parking: No dedicated parking listed
• Utilities: Public water; Municipal sewer connected; Electricity connected; Natural gas connected; Sewer connected; Water connected
• Home design: Single family residence; One level
• Construction: Vinyl siding; Partial foundation
• Exterior features: Chain link fence; Corner lot; Irregular lot

Interior

• Kitchen: Dishwasher; Microwave; Electric oven; Refrigerator
• Bedrooms: Three bedrooms on the main level; Primary bedroom with walk-in closet
• Flooring: Hardwood floors
• Bathrooms: Two full bathrooms on the main level; Primary bathroom with full shower stall
• Heating & cooling: Baseboard heating; Electric heating; Forced air; Central air conditioning
• Interior features: Walk-in closet(s); Hardwood floors; Basement (partial, unfinished)
• Laundry & utility: Laundry located in the basement; Electric water heater

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $115k.

Deal economics

• At list price, monthly cash flow is $361 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $115k).
• Cap rate 10.1% 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: 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); 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 67% FRL vs 47% district-wide (19 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 81 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 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 $795 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 + 3.0% rent growth), your $32k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• Only 7 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts since 6y 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.
• Current owner paid $80k; 44% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1951 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $115,000

Questions for the listing agent

1. Built in 1951 — 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: 10.06%
• Cash-on-cash: 13.46%
• DSCR: 1.60
• GRM: 7.0

CMA / ARV

• ARV (median comp): $171,246
• List price: $115,000
• Delta: -32.85%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2101 Frisco Ave	0.26mi	3/1.5 (-1)	1,360 (+1%)	5mo	$166,000	$122	76
1906 Winslow Ave	0.39mi	3/2.0 (-1)	1,360 (+1%)	2mo	$234,900	$173	74
1905 E Haythorne Ave	0.42mi	3/2.0 (-1)	1,348 (-0%)	1mo	$239,900	$178	74
2106 Clay Ave	0.24mi	3/1.0 (-1)	1,244 (-8%)	6mo	$35,000	$28	62
4523 N 14th st St	0.75mi	3/2.0 (-1)	1,360 (+1%)	1mo	$238,400	$175	58
4531 N 14th St St	0.75mi	3/2.0 (-1)	1,344 (-1%)	6mo	$243,000	$181	54
4308 N 14th 1/2 St	0.71mi	3/2.0 (-1)	1,288 (-5%)	1mo	$205,000	$159	54
1955 Winslow Ave	0.29mi	3/1.5 (-1)	1,160 (-14%)	4mo	$170,000	$147	53
4527 N 14th st St	0.75mi	3/2.0 (-1)	1,416 (+5%)	3mo	$240,000	$169	50
4519 N 14th St	0.75mi	3/2.0 (-1)	1,300 (-4%)	7mo	$239,900	$185	48
4518 N 16th St	0.59mi	3/2.0 (-1)	1,152 (-15%)	5mo	$162,500	$141	38
4535 N 14th st St	0.75mi	3/2.0 (-1)	1,540 (+14%)	4mo	$249,900	$162	34

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 3.5%
• Equity multiple: 1.14×
• Total profit: $4,349
• Equity at exit: $17,147

10-year hold

• IRR: 13.0%
• Equity multiple: 2.03×
• Total profit: $33,315
• Equity at exit: $9,943

Cash invested: $32,200 (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 47805

• Home prices YoY: -20.3%
• Active inventory: 81
• Price-to-rent: 7.0×

Monthly cashflow live

• Estimated rent: $1,371 medium
• Mortgage (P&I): −$603
• Tax from tax record: −$70 /mo · $846/yr
• Insurance: −$48
• HOA: −$0
• Vacancy / Maint / Mgmt: −$288
• Net cashflow: $361

Break-even live

Break-even rent $913

Max offer price $115,000

Occupancy floor 69%

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: $28,750
• Closing costs: $3,450
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3100 N 14th St Terre Haute, IN	3.0	1.5	990	$1,450	$1.46	43d	1	1.20mi

Listing history 8 events

1. 2026-05-08
   status Pending 373-char remark
2. 2026-04-23
   listed $115,000 Active 373-char remark
3. 2021-07-19
   soldstatus $80,000 277-char remark

   Show marketing remark (277 chars)

   Cute home in Terre Town! This 3 bedroom 2 bath home has been well maintained, and has many updates throughout! Bonus space for a computer room or man cave or craft room. Partial basement for added storage. Large fenced in yard is perfect for the kids' toys or for entertaining.

4. 2021-07-19
   soldstatus $80,000

   Show marketing remark (277 chars)

   Cute home in Terre Town! This 3 bedroom 2 bath home has been well maintained, and has many updates throughout! Bonus space for a computer room or man cave or craft room. Partial basement for added storage. Large fenced in yard is perfect for the kids' toys or for entertaining.

5. 2021-05-31
   listed $89,900

   Show marketing remark (277 chars)

   Cute home in Terre Town! This 3 bedroom 2 bath home has been well maintained, and has many updates throughout! Bonus space for a computer room or man cave or craft room. Partial basement for added storage. Large fenced in yard is perfect for the kids' toys or for entertaining.

6. 2021-05-31
   listed $89,900 277-char remark

   Show marketing remark (277 chars)

   Cute home in Terre Town! This 3 bedroom 2 bath home has been well maintained, and has many updates throughout! Bonus space for a computer room or man cave or craft room. Partial basement for added storage. Large fenced in yard is perfect for the kids' toys or for entertaining.

7. 2020-12-03
   historical
8. 2020-08-19
   listed $75,000

ⓘ 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: $846 · $70/mo
• Projected year-2 tax: $912 · $76/mo
• Expected delta: +$66/yr (+$5/mo · 7.8%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 3/10 Moderate FEMA zone X (unshaded) · 20% 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: $16,446
• − Mortgage interest: −$6,442
• − Property taxes: −$846
• − Insurance: −$575
• − Repairs & maintenance: −$1,316
• − Management: −$1,316
• − Depreciation: −$3,345
• Taxable income: $2,607
• Est. tax owed @ 24.0%: −$626
• After-tax cash flow: $3,709/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): 12,619
• Household income: $72,411
• Rent vs Own: 17.9% rent · 82.1% own
• Severe rent burden: 192.0

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 (92%)
• Race & ethnicity: White 92% Two or more races 5% Hispanic / Latino 2% Black 1%
• Common ancestry: Italian 3% Slovak 2% Lithuanian 2%
• Foreign-born: 1% · South Korea
• Languages at home: 98% English-only · Spanish 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: ▼ -48.03%
• Current HPI: 188.402
• Rent YoY: —
• 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

+53.3% since first listed

8 events — show timeline

• 2026-05-08 Pending — MIBOR as Distributed by MLS Grid
• 2026-04-23 Listed $115,000 MIBOR as Distributed by MLS Grid
• 2021-07-19 Sold (MLS) $80,000 MIBOR as Distributed by MLS Grid
• 2021-07-19 Sold (MLS) $80,000 THAAR
• 2021-05-31 Listed $89,900 MIBOR as Distributed by MLS Grid
• 2021-05-31 Listed $89,900 THAAR
• 2020-12-03 Listing Removed — MIBOR as Distributed by MLS Grid
• 2020-08-19 Listed $75,000 MIBOR as Distributed by MLS Grid

Property tax history

+5.5%/yr

Latest (2024): $846 · +3.0% YoY. Source: county tax records.