Looking for a low-basis project where the numbers don't depend on a fantasy ARV?
Here it is.
This 1,475-SF Terre Haute fixer needs a substantial renovation, but at $44,999, there's room to create value without starting with a six-figure acquisition.
THE NUMBERS
MARKET PRICE: $44,999
BUY NOW: $49,999
Conservative ARV: ~$140,000–$150,000
Estimated Rehab: ~$55,000–$65,000
3 Bed | 1 Bath
1,475 SF
Detached Garage
This is a real rehab.
It's also priced like one.
THE PROJECT
Plan for a substantial renovation and general updating throughout.
Depending on your scope and crew, budget for:
Kitchen renovation
Bathroom renovation
Flooring/refinishing
Interior paint
Fixtures and finishes
Exterior/cosmetic work
Mechanical/system updates as needed
General repairs and deferred maintenance
We're carrying approximately $55K–$65K for underwriting rather than trying to make the deal look better with an unrealistically low rehab number.
Buyer to independently verify all systems, property condition and repair costs.
EXIT #1 — FIX & FLIP
Let's use a $145,000 working exit rather than stretching the ARV.
Purchase @ $44,999
Rehab @ $60,000
Purchase + Rehab: ~$105,000
That leaves approximately $40,000 between purchase/rehab basis and a $145K resale before financing, holding, closing and resale expenses.
Bring the renovation in below $60K or achieve the upper end of the retail range and the spread improves.
No $180K ARV required.
EXIT #2 — RENTAL / BRRRR
Don't want to flip it?
At this acquisition price, a landlord or BRRRR investor has another path.
Renovate it appropriately for a rental, stabilize the property and hold a 3-bedroom, nearly 1,500-SF asset without entering anywhere close to renovated retail pricing.
The rental strategy becomes especially attractive for an investor who can keep the renovation scope below a full retail flip.
EXIT #3 — CONTRACTOR / SWEAT-EQUITY PLAY
This may be where the deal gets strongest.
If you've got your own crew, can self-perform work or don't need to pay retail contractor pricing for the entire renovation, every dollar saved on rehab improves the spread.
Buy cheap.
Renovate appropriately for the neighborhood.
Don't over-improve it.
Let the basis do the work.
REAL RECENT SALES SUPPORT
We're intentionally underwriting this conservatively.
Nearby renovated/improved sales demonstrate value in the area, including a 3-bed / 1.5-bath, 1,369-SF property selling for approximately $165K in July 2026.
We're not asking you to underwrite this deal at $180K.
We're looking at a more conservative $140K–$150K range and pricing the opportunity accordingly.
WHY THIS ONE DESERVES A LOOK
Under $45K acquisition
3 bedrooms
1,475 SF
Detached garage
Multiple potential exits
Low total acquisition basis
Recent retail sales support
Value-add opportunity
Doesn't require a $180K ARV to make the story work
This isn't turnkey.
That's the opportunity.
Buy it for $44,999, control the rehab, and create the equity yourself.
MARKET: $44,999 BUY NOW: $49,999
Contact the dispo team for photos, access, property details and contract information.
Cash / Hard Money Preferred
Property sold as-is. Buyer to perform all independent due diligence regarding condition, systems, repair costs, square footage, value and exit strategy.
More About This Property
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ARV $160,000
From the listing
The seller picked no comps. Investimate’s own value for this home is $53,000.
