2033 N 10th St, Terre Haute, IN 47804, USA

🏡 Investor Overview: 2033 N 10th St, Terre Haute, IN 47804

Property Type: Triplex (3 Units, Any Combination) (Currently Used as SFR)
Beds/Baths: 3 Bed / 2.5 Bath (Potential for 6+ Bed / 3+ Bath)
Sqft: 3,305 | Lot: 5,680 | Year Built: 1890 (Remodeled: 2024)
Occupancy: 100% (Month-to-Month Lease, Expires 2/28/2026)
Asking Price: 💰 TBD
Current Rent: $1,600/mo (Tenants Pay Utilities)
Market Rent (Triplex): $3,000/mo | Market Rent (By Room): $600/room
Insurance: $2,000/yr (Escrow) | Taxes: $1,875/yr
🔍 Property Snapshot
Type: Triplex (currently configured as a single-family residence)
Sqft: 3,305 total
Lot Size: 5,680 sqft
Year Built: 1890 (Remodeled 2024)
Condition: Fully renovated – $0 rehab needed
Occupancy: 100% occupied
Lease Type: Month-to-month (flexible for sale or tenant retention)
📈 Valuation & ARV Range
ARV Estimate: TBD (Based on triplex conversion and room-by-room potential)

Exterior photos show a well-maintained, newly remodeled home with modern siding, roof, and windows.
Interior photos reveal spacious rooms with new flooring (carpet and hardwood), updated lighting, and a renovated bathroom with modern fixtures.
Proximity to ISU campus (1.3 miles, 5-minute drive) suggests strong rental demand, especially for student housing or multi-unit setups.

 

💵 Financial Snapshot
Current Rent: $1,600/mo = $19,200/yr
Market Rent (Triplex): $3,000/mo = $36,000/yr
Market Rent (By Room, 6 rooms): $3,600/mo = $43,200/yr
Annual Expenses (Est.): $3,875 (Insurance + Taxes)
NOI (Current): $15,325/yr
NOI (Triplex Market Rent): $32,125/yr
NOI (Room-by-Room): $39,325/yr
Cap Rate (Current): ~8.0% | Cap (Triplex): ~16.7% | Cap (Room): ~20.5%
Cash-on-Cash ROI: TBD (depends on purchase price and financing)

✅ DSCR Loan Analysis (Estimate)
Gross Income: $1,600/mo (current) | $3,000–$3,600/mo (market)
Annual Gross: $19,200 (current) | $36,000–$43,200 (market)
Estimated Expenses: ~$3,875 (insurance + taxes, no utilities)
NOI: ~$15,325–$39,325/yr
Estimated DSCR: 1.28–3.28 (depends on rate/terms, 20% down, 7.5% interest)
DSCR loan-qualified with strong buffer above 1.2 minimum

💡 Investor Highlights
✅ Fully renovated with new electrical, plumbing, HVAC, roof, and windows – turnkey ready
✅ Spacious 3,305 sqft with basement and 2nd floor bedroom (egress + half bath)
✅ Zoned triplex with potential to convert to 6+ bedrooms, boosting ARV and rents
✅ 100% occupied with tenants paying utilities, cash flowing day one
📍 1.3 miles from ISU campus – ideal for student rentals or room-by-room leasing
🚀 Upside in rent increases via triplex conversion or room rentals
🔑 Flexible month-to-month lease for easy transition to new owner or strategy
✅ Dry basement offers additional value-add potential (e.g., extra bedroom/bath)

🔧 Potential Value-Adds

Convert to true triplex configuration (3 units) to achieve $3,000/mo market rent.
Add 2–3 bedrooms and 1 bath in the basement to support room-by-room leasing ($600/room, up to $3,600/mo).
Finish 2nd floor half bath into full bath to enhance rental appeal.
Utilize parking pad for additional revenue (e.g., tenant parking fees).
Add attic access/stairs for potential storage or future living space (if feasible).

 

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📞 Contact Jamie Franklin | Acquire JDF Corp | 317-610-9834

🔍 Visual Inspection Notes: 2033 N 10th St, Terre Haute, IN 47804

Exterior Overview:

Classic two-story Victorian-style home with gabled roof, front porch, and gray siding; appears freshly painted and well-maintained post-2024 remodel.
Roof looks new (black shingles, no visible sagging, curling, or damage; light snow coverage suggests good drainage).
Windows are modern replacements (double-hung, energy-efficient style, clean frames with no cracks or fogging).
Front yard is flat and open, covered in snow during photos—minimal landscaping visible, but no major debris or overgrowth; potential for curb appeal boosts like shrubs or walkway enhancements.

No garage, but rear parking pad via alley access looks functional and graveled; backyard connects seamlessly to kitchen entry, offering easy tenant access.
Overall condition: Solid structural integrity, no signs of foundation cracks, siding gaps, or water damage; turnkey exterior ready for occupancy with minor seasonal cleanup potential.

 

Interior Overview:

Fully remodeled to modern standards—clean, bright, and vacant in photos, showcasing fresh finishes throughout the 3,305 sqft layout.
Main living areas feature glossy hardwood floors (rich wood tone, no scratches or warping; recently installed/polished for a high-end feel).
Bedrooms and hallways have neutral gray carpet (plush, clean, no stains or wear; attic-access bedroom on 2nd floor includes egress window and half bath for compliant use).

Bathroom shown is updated with hardwood flooring, white toilet, gray vanity/sink, mirror, and simple lighting—functional and contemporary, no leaks or tile issues visible; half bath could easily convert to full.

Ceilings are textured/popcorn style in some rooms, with modern flush-mount lights and fans; walls painted white/neutral, smooth drywall with no patches or holes.
Open layouts in hallways and rooms suggest good flow; basement (not shown but described as dry and upgraded with new plumbing/electrical) adds storage or expansion potential without moisture concerns.

No appliances or furniture in photos, emphasizing the blank-canvas appeal; all systems (HVAC vents visible, outlets/switches new) appear code-compliant and ready for immediate use.

Overall condition: Brand-new interior from studs-up remodel—minimal to no defects, ideal for quick leasing; value-adds like adding basement beds/baths or attic stairs could enhance without major demo.