4530 N Sunnyside St

North Terre Haute, IN 47805

$89,248D+

1 bd · 1.0 ba · 948 sqft · Built 1953 · SingleFamily · Active · 560 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $769/mo
• Mortgage (P&I): −$468
• Tax + insurance: −$114
• HOA: −$0
• Vac / Maint / Mgmt: −$162
• Net cashflow: $25/mo
• Annual: $303/yr
• Cap rate: 6.63%
• Cash-on-cash: 1.21%
• DSCR: 1.05
• 1% rule: 0.86%
• Cash to close: $24,989

Investor read

• This is a 1-bed/1.0-bath single-family listed at $89k.
• At list price, monthly cash flow is $25 ($303/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $77k (13.8% below list).
• It's been on market 560 days — a 12% lower offer ($79k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $77k (13.8% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $617 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Location reads 64/100 on livability (#408 in IN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime B+; Watch: employment D, amenities F, commute 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); Otter Creek Middle School (math 13% / reading 25%, grade F, #274 of 330 statewide, top 83%, 787 students, 65% 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 66% FRL vs 47% district-wide (19 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Watch-outs: built in 1953 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 81 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 60 units permitted in Vigo County in 2024 (0 in 5+ unit buildings).
• Vigo County population projected to shrink 5% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• 9 sale attempts since 5y ago; this cycle's ask has dropped $6k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Cap rate 6.6% vs local median 3.3% in North 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.
• This rent is only 13% of the median local income ($72k/yr) — well below the 30% rent-burden line; pricing power to push rent on renewal without tenant pushback.

Questions for listing agent

• It's been on market 560 days. Have you received any prior offers? Is the seller open to a 14% concession, seller financing, or rate buy-down credit?
• Built in 1953 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
• 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?
• 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.
• 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.