Score
0Terre Haute, IN
1535 Elm St
83K
3 beds
1 baths
2,040 sqft
3 bd • 1 ba • 2,040 sf
This analysis was generated on 1/24/2025. It is for entertainment purposes only and should not be considered as real estate or investment advice.
List Price
$82,700
Price/Sq.Ft
$41
Year Built
AI Property Analysis
A comprehensive evaluation of this property's features, market position, and investment potential.
The Good
The property at 1535 Elm St, Terre Haute, IN 47807 offers exceptional value at $40.54/sqft, which is significantly below the average price for similar homes in the area (typically ranging from $80-$100/sqft). With 2,040 sqft, it provides 36% more living space than the average 3-bedroom home in Terre Haute (1,500 sqft). The large lot features mature trees, enhancing curb appeal and potentially lowering cooling costs. Its location on Elm St suggests it's in an established neighborhood, likely with good walkability. The attached garage adds convenience and value, estimated at $10,000-$15,000. Based on local rental rates, this property could generate approximately $1,047/month as a 3-bedroom rental, potentially yielding a gross annual return of 15.2% on the purchase price.
The Bad
The property's single bathroom for a 3-bedroom home is below the current market standard of 2+ bathrooms, potentially limiting its appeal and future resale value. The lack of detailed information about the year built and property features suggests it may be an older home, possibly requiring significant updates or repairs. The exterior paint appears worn, indicating potential neglect in maintenance. Given the median income of $23,495 in the area, finding qualified renters or buyers may be challenging, potentially leading to longer vacancy periods or lower rental rates.
The Ugly
The unknown build year is a significant concern, potentially hiding major issues related to outdated systems, foundation problems, or hazardous materials like lead paint or asbestos. If the home was built before 1978, lead paint remediation could cost $10,000-$30,000. Asbestos removal, if necessary, might range from $20,000-$40,000. The property's low price point relative to its size suggests potential structural or major system issues. Given Terre Haute's industrial history, soil contamination could be a concern, requiring environmental testing ($500-$1,500) and potential remediation costs. The single bathroom for a 3-bedroom home is severely outdated, and adding a second bathroom could cost $15,000-$25,000.
Who is this property for?
These details are presented solely for entertainment purposes and are not meant to steer or limit any prospective buyer.
Best For
This property is best suited for investors with renovation experience and capital for improvements. It could appeal to first-time homebuyers willing to take on a fixer-upper, especially those with DIY skills. The large size makes it suitable for growing families who prioritize space over modern amenities and are willing to gradually update the property. Real estate developers looking for properties with potential for significant value-add through renovations may also find this attractive.
Not For
This property is not suitable for buyers seeking a move-in ready home or those without the budget for potential major renovations. It's not ideal for individuals with mobility issues or families needing multiple bathrooms immediately. Investors looking for turnkey rental properties should avoid this unless they have the capacity for a full renovation. Those sensitive to potential environmental hazards or without the means to conduct thorough inspections and possible remediation should also look elsewhere.
Demographics
Area Median Income
$23,495
Property History
Price History
Ownership Timeline
$0Cash Purchase
Oct 15, 2016Ella M ReddRonald L Smith
Quit Claim Deed
Non-Arm's Length Transactions
Sunlight Analysis
Visualize how sunlight affects this property throughout the day and year.
Sunlight Analysis
Data provided by Shadowmap
Loading sunlight data...
Financials
Monthly Costs
Market Rent (3 bed)
Get a detailed estimate on Zillow$647
Unlock Premium Features
Supercharge Your Property Analysis
Get unlimited AI-powered insights and analysis to make confident decisions about any property you're interested in.
Best for serious buyers
- Unlimited AI analysis
- Unlimited AI chat
- Advanced tools & insights
$24.92/mo
Billed yearlySave 17% ($60/year)
Cancel anytime • 30-day money-back guarantee
Location & Comparables
Subject Property
Comparable Sales
Subject Property
Price
$82,700
Price/sqft
$41
Layout
3 bd•1 ba
Stats in the Area
Based on 5 comparable properties nearby
Average Price
$74,100
11.6%
Your price is 11.6% above average
Median Price
$74,000
11.8%
Based on 5 recent sales
Price per Sq.Ft
$48
15.5%
Your price is 15.5% below average $/sqft
Comparable Properties
| Address | Price | Sq.Ft | Beds | Baths | $/Sq.Ft | Sale Date |
|---|---|---|---|---|---|---|
| 2817 Fenwood Avenue, Terre Haute, IN 47803 | $75,000 | 1,884 | 2 | 1 | $401.8% | 9/30/2024 |
| 91 S 19th Street, Terre Haute, IN 47807 | $180,000 | 2,197 | 4 | 2 | $82102.1% | 10/11/2024 |
| 2411 6th Avenue, Terre Haute, IN 47803 | $38,000 | 1,809 | 3 | 2 | $2148.2% | 9/9/2024 |
| 49 S 13th 1/2 Street, Terre Haute, IN 47807 | $74,000 | N/A | N/A | N/A | N/A | 9/28/2024 |
| 2000 1st Avenue, Terre Haute, IN 47807 | $3,500 | N/A | N/A | N/A | N/A | 7/29/2024 |
2817 Fenwood Avenue, Terre Haute, IN 47803
Price: $75,000
Sq.Ft: 1,884
Beds/Baths: 2/1
$/Sq.Ft:
$401.8%
Sale Date: 9/30/2024
91 S 19th Street, Terre Haute, IN 47807
Price: $180,000
Sq.Ft: 2,197
Beds/Baths: 4/2
$/Sq.Ft:
$82102.1%
Sale Date: 10/11/2024
2411 6th Avenue, Terre Haute, IN 47803
Price: $38,000
Sq.Ft: 1,809
Beds/Baths: 3/2
$/Sq.Ft:
$2148.2%
Sale Date: 9/9/2024
49 S 13th 1/2 Street, Terre Haute, IN 47807
Price: $74,000
Sq.Ft: N/A
Beds/Baths: N/A/N/A
$/Sq.Ft: N/A
Sale Date: 9/28/2024
2000 1st Avenue, Terre Haute, IN 47807
Price: $3,500
Sq.Ft: N/A
Beds/Baths: N/A/N/A
$/Sq.Ft: N/A
Sale Date: 7/29/2024
Frequently Asked Questions
Property Discussion
Start the Conversation
Share your insights on this property—did you visit the open house? Know of any hidden pros or cons? Your street-level knowledge could be exactly what another buyer needs.
You
Analyze Any Property for Free
Get instant insights and potential savings on any Zillow listing.
Free Analysis
AI-Powered Insights
Instant Results