18-Unit Apartment
New
For Sale
$2,149,000
801 N 5th St, Terre Haute, IN 47807
A mix of two- and three-bedroom rentals sits within walking distance of Indiana State University.
Property Size19,024 SF
Price / SF$112.96
Days on Market4
Property Features for 801 N 5th St
General Information
Standard status
Active
Size
19,024 SF
Occupancy
100%
Units
Unit Mix
10 x 3BR, 8 x 2BR
Multifamily Units
18
Amenities
off-street parking
on-site picnic shelter
Building Details
Year Built
1994
Buildings
6
Listing Agency:
Emmert Realty
Listed By:
Kimberly Emmert-ODell
(812) 448-8580
Source:
Megandusing
Added: Sep 28
Changed: Oct 1
Last Checked: Oct 1 at 2:11PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Emmert Realty
Investment Insights
Based on property information with market context.
The 19,024-square-foot apartment property comprises five duplex buildings with three-bedroom units and a separate eight-unit building with two-bedroom apartments. Built in 1994, the property includes off-street parking and an on-site picnic shelter. Occupancy is 100%. The unit mix spans two bedroom configurations across 18 apartments.
Indiana State University is within walking distance. Downtown Terre Haute, shopping, and dining are also nearby.
Indiana State University is within walking distance. Downtown Terre Haute, shopping, and dining are also nearby.
Key Highlights
- 18 apartments across five duplex buildings and one eight‑unit building
- Five duplex buildings contain three‑bedroom units; the eight‑unit building has two‑bedroom apartments
- 19,024 square feet; built in 1994
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$83,973
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.91%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,679,460
$1.7M
Cap Rate 7%
$1,199,614
$1.2M
Cap Rate 9%
$933,033
$933.0K
Market Conditions
NOI Build-Up for 19,024 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$173.5K $9.12/SF
− Vacancy
−$20.8K −$1.09/SF
EGI
$152.7K $8.03/SF
− OpEx
−$68.7K −$3.61/SF
NOI
$84.0K $4.41/SF
Area
Vigo County, IN
Vacancy
12.00%
Lease Rate
$9.12 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,679,460
Cap Rate 7%
$1,199,614
Cap Rate 9%
$933,033
Alternative Uses
Best Use
Apartment 5plus
$1.20M
$1.05M – $1.40M
NOI $83,973 @ 7.0% cap · market cap 3.91%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$13.73M
$12.02M – $16.02M
NOI $961,290 @ 7.0% cap · market cap 44.73%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
18
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
602
Businesses Nearby
Explore this area
Business Placement
Demographics for 47807, IN
12,063
Population
6,805
Households
1.8
Avg Household Size
29
Median Age
13%
College-Educated
82%
High-School Grad
3.8 sq mi
ZIP Area
3,174
Density / Sq Mi
$24,389
Median Household Income
$15,611
Median Earnings
$910
Median Rent
$58,400
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Midwest region
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Frequently Asked Questions
What type of property is this?
Apartment building - A mix of two- and three-bedroom rentals sits within walking distance of Indiana State University.
Where is this apartment building located?
The property is located at 801 N 5th St Terre Haute, IN.
What is the asking price?
The asking price for this property is $2,149,000.
What are key features of this property?
This property features: 18 apartments across five duplex buildings and one eight‑unit building; Five duplex buildings contain three‑bedroom units; the eight‑unit building has two‑bedroom apartments; 19,024 square feet; built in 1994
