411 S 22nd St · Terre Haute, IN 47803

$120,000

3 bd · 1.0 ba · 1,224 sqft · SingleFamily public records · 45 Days on market

Built 1950 0.25 ac lot $98/sqft · at area comps Est $121k · at est. ↓ 7% 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 +23.5/30.0
• ARV discount +7.7/15.0
• DSCR +7.5/10.0
• 1% rule +5.1/10.0
• 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

Ready to become a homeowner? This one-level home has had the same owner for over 40 years with a great location, flexible living space, a new roof and two-year old HVAC units! The home features 3 bedrooms, 1 full bathroom, a formal dining area, and a spacious 19x11 family room at the rear of the home that could serve as a second living area, office, playroom, or potential future primary suite. Situated on a large corner lot along an alley, there is a generous yard with room to add a garage in the future. A storage shed is included, and all appliances remain with the home. Conveniently located near shopping, schools, and other local amenities, this property offers great potential for its nex

Key facts

• Generous yard
• Large corner lot
• New roof

Tags

• FLEXIBLE LIVING SPACE
• NEW ROOF
• TWO YEAR OLD HVAC UNITS
• SPACIOUS FAMILY ROOM
• LARGE CORNER LOT
• GENEROUS YARD

Property features AI

Exterior

• Utilities: Public sewer
• Home design: Single-family residence; One story
• Construction: Metal siding
• Exterior features: Shingle roof; Shed(s)

Interior

• Kitchen: Gas oven; Gas range; Refrigerator
• Flooring: Carpet
• Bathrooms: 1 full bathroom
• Heating & cooling: Natural gas heating; Central air; Ceiling fan(s)
• Interior features: Gas oven and gas range; Refrigerator; Carpet flooring; Central air and ceiling fans

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $120k.

Deal economics

• At list price, monthly cash flow is $223 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $120k).
• Recommended offer: $116k (3.0% below list) — sets the bar for market timing.
• Cap rate 8.5% 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: 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; 11 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; 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 $830 of loan paydown is wiped out by about $4k 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

• It's been on market 45 days — a 3% lower offer ($116k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1950 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $116,400 (3.0% below list)

Questions for the listing agent

1. It's been on market 45 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1950 — 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. 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.
7. 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.
8. 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: 1.01% ✓
• Cap rate: 8.53%
• Cash-on-cash: 7.98%
• DSCR: 1.35
• GRM: 8.3

CMA / ARV

• ARV (median comp): $120,518
• List price: $120,000
• Delta: -0.43%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2512 Farrington St	0.49mi	3/1.0	1,245 (+2%)	0mo	$149,900	$120	74
1008 S 20th St	0.45mi	2/1.0 (-1)	1,225 (+0%)	1mo	$115,000	$94	73
552 Monterey Ave	0.07mi	2/1.0 (-1)	1,080 (-12%)	3mo	$147,000	$136	70
111 S 23rd St	0.45mi	2/1.0 (-1)	1,242 (+2%)	3mo	$155,000	$125	69
239 S 22nd St	0.29mi	2/1.0 (-1)	1,301 (+6%)	4mo	$160,000	$123	68
246 S 24th St	0.36mi	3/1.0	1,364 (+11%)	1mo	$183,900	$135	64
1006 S 25th St	0.51mi	2/2.0 (-1)	1,207 (-1%)	3mo	$169,900	$141	62
1407 Ohio St	0.63mi	3/1.5	1,178 (-4%)	4mo	$29,500	$25	59
2709 Crawford St	0.48mi	3/1.0	1,363 (+11%)	1mo	$192,444	$141	58
941 S 25th St	0.48mi	2/1.0 (-1)	1,102 (-10%)	2mo	$115,000	$104	54
2107 College	0.48mi	2/2.0 (-1)	1,040 (-15%)	0mo	$165,000	$159	43
1335 S 20th St	0.68mi	2/2.0 (-1)	1,350 (+10%)	5mo	$120,000	$89	38

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: -3.1%
• Equity multiple: 0.88×
• Total profit: $-3,916
• Equity at exit: $17,892

10-year hold

• IRR: 7.7%
• Equity multiple: 1.61×
• Total profit: $20,373
• Equity at exit: $10,375

Cash invested: $33,600 (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: 8.3×

Monthly cashflow live

• Estimated rent: $1,210 high
• Mortgage (P&I): −$629
• Tax from tax record: −$53 /mo · $641/yr
• Insurance: −$50
• HOA: −$0
• Vacancy / Maint / Mgmt: −$254
• Net cashflow: $223

Break-even live

Break-even rent $927

Max offer price $120,000

Occupancy floor 77%

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: $30,000
• Closing costs: $3,600
• Reserves months: —
• Total cash needed: —

Rent comps 11 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1915 Poplar St Unit A Terre Haute, IN	3.0	1.0	1412	$1,200	$0.85	44d	1	0.21mi
501 S 19th St Terre Haute, IN	2.0	1.0	1200	$975	$0.81	44d	1	0.25mi
433 S 25th St Terre Haute, IN	2.0	1.0	760	$995	$1.31	44d	1	0.26mi
435 S 18th St Terre Haute, IN	3.0	1.0	1108	$1,050	$0.95	44d	1	0.31mi
1701 Ohio St Unit C Terre Haute, IN	2.0	1.0	880	$950	$1.08	44d	1	0.40mi
1320 S 19th St Terre Haute, IN	2.0	1.0	830	$700	$0.84	44d	1	0.65mi
2124 1st Ave Terre Haute, IN	2.0	1.0	1208	$899	$0.74	44d	1	1.15mi
66 Pear Tree Ln Terre Haute, IN	2.0	1.0	868	$875	$1.01	44d	1	1.28mi
600 S Center St Unit 602 Terre Haute, IN	3.0	1.5	1500	$2,500	$1.67	44d	1	1.29mi
1201 S 7th St Unit 3 Terre Haute, IN	3.0	1.0	880	$925	$1.05	44d	1	1.35mi
1432 4th Ave Terre Haute, IN	3.0	1.0	1144	$1,000	$0.87	44d	1	1.44mi

Listing history 17 events

1. 2026-06-19
   days on market $120,000 Active 45 DOM
2. 2026-06-18
   days on market $120,000 Active 44 DOM
3. 2026-06-17
   days on market $120,000 Active 43 DOM
4. 2026-06-16
   days on market $120,000 Active 42 DOM
5. 2026-06-15
   days on market $120,000 Active 41 DOM
6. 2026-06-14
   days on market $120,000 Active 39 DOM
7. 2026-06-13
   days on market $120,000 Active 38 DOM
8. 2026-06-10
   days on market $120,000 Active 36 DOM
9. 2026-06-09
   days on market $120,000 Active 35 DOM
10. 2026-06-08
    days on market $120,000 Active 34 DOM
11. 2026-06-07
    days on market $120,000 Active 33 DOM
12. 2026-06-05
    days on market $120,000 Active 30 DOM
13. 2026-06-02
    days on market $120,000 Active 28 DOM
14. 2026-06-01
    days on market $120,000 Active 27 DOM
15. 2026-05-31
    days on market $120,000 Active 26 DOM
16. 2026-05-30
    days on market $120,000 Active 25 DOM
17. 2026-05-05
    listed $128,500 Active 757-char remark

ⓘ 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: $641 · $53/mo
• Projected year-2 tax: $830 · $69/mo
• Expected delta: +$190/yr (+$16/mo · 29.6%)

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

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone X (unshaded) · 21% 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: $14,523
• − Mortgage interest: −$6,722
• − Property taxes: −$641
• − Insurance: −$600
• − Repairs & maintenance: −$1,162
• − Management: −$1,162
• − Depreciation: −$3,491
• Taxable income: $746
• Est. tax owed @ 24.0%: −$179
• After-tax cash flow: $2,502/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

-6.6% since first listed

2 events — show timeline

• 2026-05-29 Price Changed $120,000 THAAR
• 2026-05-05 Listed $128,500 THAAR

Property tax history

+7.9%/yr

Latest (2024): $641 · +2.3% YoY. Source: county tax records.