2809 Shriver Ave · Indianapolis city (balance), IN 46208

$70,000

2 bd · 1.5 ba · 1,425 sqft · SingleFamily public records · 59 Days on market

Built 1925 3,398 sqft lot $49/sqft · 52% below area ↓ 22% since listing

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Why this score? — see what drove the B- grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Rent growth +4.1/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.4/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

A rare opportunity in a prime location with exceptional potential and long-term value. Ideally situated just minutes from the Children's Museum, local universities, and downtown Indianapolis, this home offers both convenience and strong market positioning. This 2-bedroom home includes a versatile upper level, ideal for a potential third bedroom or an additional living area. Surrounded by comparable properties supporting continued growth and strong resale value, this home is well-positioned for those seeking to personalize a residence, build equity, or explore rental or resale potential. A unique blend of location, flexibility, and opportunity, ready for its next chapter. Schedule your showing today and begin your next chapter here!

Key facts

• 3,398 sq ft lot
• Built 1925
• Listed 59 days

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath single-family listed at $70k.

Deal economics

• At list price, monthly cash flow is $646 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $70k).
• Recommended offer: $68k (3.0% below list) — sets the bar for market timing.
• Cap rate 17.4% vs local median 4.4% in Indianapolis city (balance) — 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.

Location & tenants

• Location reads: area grade B — affects rentability + tenant quality, not the cash-flow math above.
• Indianapolis Public Schools (urban): math 14% / reading 20% proficiency, ranked #286 of 301 in IN (top 95%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 77% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising fast (+6.4%/yr); 279 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 42% of comp listings sitting > 30 days — soft ceiling on asking rent; 1,906 units permitted in Marion County in 2024 (621 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $484 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Marion County population projected at +18% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 6.4% rent growth), your $20k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 59 days — a 3% lower offer ($68k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1925 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $67,900 (3.0% below list)

Questions for the listing agent

1. It's been on market 59 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1925 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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.
5. 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.
6. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 2.04% ✓
• Cap rate: 17.36%
• Cash-on-cash: 39.54%
• DSCR: 2.76
• GRM: 4.1

CMA / ARV

• ARV (median comp): $213,586
• List price: $70,000
• Delta: -67.23%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2420 N Capitol Ave	0.43mi	3/2.5 (+1)	1,414 (-1%)	1mo	$194,000	$137	69
2422 N Capitol Ave	0.43mi	3/2.5 (+1)	1,408 (-1%)	1mo	$194,000	$138	68
451 W 26th St	0.21mi	3/2.0 (+1)	1,320 (-7%)	4mo	$85,000	$64	67
713 W 32nd St	0.58mi	3/2.0 (+1)	1,417 (-1%)	1mo	$147,000	$104	64
2709 Shriver Ave	0.08mi	3/2.0 (+1)	1,212 (-15%)	6mo	$123,016	$101	59
2434 N Pennsylvania St	0.61mi	3/2.5 (+1)	1,440 (+1%)	4mo	$299,900	$208	57
851 W 25th St	0.58mi	3/1.5 (+1)	1,334 (-6%)	4mo	$90,000	$67	54
2442 Ethel Ave	0.38mi	2/1.0	1,214 (-15%)	3mo	$150,000	$124	53
2280 Indianapolis Ave	0.56mi	3/2.5 (+1)	1,288 (-10%)	0mo	$136,000	$106	49
3224 N Capitol Ave	0.56mi	3/2.5 (+1)	1,542 (+8%)	3mo	$249,900	$162	49
811 W 25th St	0.53mi	3/2.0 (+1)	1,292 (-9%)	9mo	$56,000	$43	45
3310 N Capitol Ave	0.65mi	1/10.0 (-1)	1,278 (-10%)	6mo	$65,000	$51	28

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 6.43% rent growth · sell at horizon

5-year hold

• IRR: 39.7%
• Equity multiple: 2.78×
• Total profit: $34,899
• Equity at exit: $10,437

10-year hold

• IRR: 47.7%
• Equity multiple: 6.40×
• Total profit: $105,854
• Equity at exit: $6,052

Cash invested: $19,600 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 90 Strongly Landlord-Friendly
• State Indiana: 90 Strongly Landlord-Friendly · R+11
• County: — inherits STATE
• City: — inherits STATE

10-day pay-or-quit; landlord-favorable; preempted.

Methodology + full state rankings →

ZIP-level market 46208

• Rents YoY: 6.4%
• Active inventory: 279
• Price-to-rent: 4.1×

Monthly cashflow live

• Estimated rent: $1,426 high
• Mortgage (P&I): −$367
• Tax from tax record: −$85 /mo · $1,018/yr
• Insurance: −$29
• HOA: −$0
• Vacancy / Maint / Mgmt: −$300
• Net cashflow: $646

Break-even live

Break-even rent $609

Max offer price $70,000

Occupancy floor 50%

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $17,500
• Closing costs: $2,100
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2808 N Capitol Ave Indianapolis, IN	2.0	1.0	900	$975	$1.08	23d	1	0.18mi
516 W 28th St Indianapolis, IN	2.0	1.0	1005	$1,100	$1.09	23d	1	0.19mi
538 W 29th St Indianapolis, IN	3.0	1.0	1132	$1,349	$1.19	23d	1	0.26mi
560 Udell St Indianapolis, IN	3.0	1.5	1176	$1,190	$1.01	23d	1	0.28mi
3031 Boulevard Pl Indianapolis, IN	3.0	1.5	1395	$1,450	$1.04	17d	1	0.29mi
3017 Ethel Ave Indianapolis, IN	3.0	1.5	1079	$1,400	$1.30	23d	1	0.32mi
648 W 30th St Indianapolis, IN	3.0	2.0	1300	$1,500	$1.15	23d	1	0.44mi
824 W 29th St Indianapolis, IN	3.0	2.0	1200	$1,595	$1.33	43d	1	0.48mi
55 W Fall Creek Parkway South Dr Unit C Indianapolis, IN	2.0	1.0	1000	$1,035	$1.03	43d	1	0.48mi
826 W 29th St Indianapolis, IN	3.0	2.0	1200	$1,595	$1.33	43d	1	0.49mi
2625 N Meridian St Indianapolis, IN	1.0–2.0	1.0–2.0	850	$2,150	$2.53	7d	8	0.52mi
2318 N Capitol Ave Indianapolis, IN	3.0	1.0	1440	$1,050	$0.73	43d	1	0.54mi
2801 N Talbott St Unit A Indianapolis, IN	3.0	2.0	1296	$1,850	$1.43	43d	1	0.59mi
2813 N Talbott St Indianapolis, IN	3.0	2.0	1297	$1,800	$1.39	43d	1	0.59mi
2809 N Talbott St Indianapolis, IN	3.0	2.0	1250	$1,750	$1.40	43d	1	0.59mi
2805 N Talbott St Indianapolis, IN	3.0	2.0	1296	$1,800	$1.39	43d	1	0.59mi
2901 N Talbott St Indianapolis, IN	3.0	1.5	1388	$1,400	$1.01	43d	1	0.59mi
3103 N Meridian St Indianapolis, IN	3.0	2.0	1280	$1,775	$1.39	23d	1	0.60mi
118 W 23rd St Indianapolis, IN	3.0	1.5	1456	$1,300	$0.89	10d	1	0.61mi
2437 N Pennsylvania St Indianapolis, IN	3.0	2.0	1400	$1,650	$1.18	23d	1	0.61mi
2235 Doctor Martin Luther King Junior St Indianapolis, IN	3.0	1.5	948	$1,700	$1.79	43d	1	0.62mi
2925 N Delaware St Indianapolis, IN	3.0	1.5	1322	$1,275	$0.96	23d	1	0.65mi
3004 N Delaware St Indianapolis, IN	3.0	1.5	1600	$1,599	$1.00	7d	1	0.66mi
2955 N Delaware St Indianapolis, IN	3.0	1.5	1400	$1,600	$1.14	43d	1	0.67mi
2224 N Kenwood Ave Indianapolis, IN	3.0	3.0	1735	$1,950	$1.12	7d	1	0.67mi
908 Burdsal Pkwy Marion, IN	2.0	1.0	936	$1,300	$1.39	23d	1	0.71mi
906 Burdsal Pkwy Indianapolis, IN	2.0	1.0	936	$1,295	$1.38	23d	1	0.71mi
926 W 32nd St Indianapolis, IN	3.0	2.0	1050	$1,295	$1.23	7d	1	0.75mi
3413 N Capitol Ave Indianapolis, IN	3.0	1.0	1176	$1,249	$1.06	10d	1	0.77mi
3415 N Capitol Ave Indianapolis, IN	3.0	1.0	1176	$1,249	$1.06	23d	1	0.77mi
321 E 31st St Indianapolis, IN	3.0	1.0	1390	$1,400	$1.01	43d	1	0.80mi
2161 N Meridian St Indianapolis, IN	3.0	2.0	1592	$1,800	$1.13	43d	1	0.82mi
3217 Rader St Indianapolis, IN	3.0	1.0	1200	$1,299	$1.08	43d	1	0.83mi
1054 W 31st St Unit A Indianapolis, IN	2.0	1.0	1200	$1,500	$1.25	43d	1	0.85mi
2131 N Meridian St Indianapolis, IN	2.0	1.0	994	$1,455	$1.46	43d	1	0.85mi
3469 Graceland Ave Indianapolis, IN	2.0	1.0	1000	$1,200	$1.20	43d	1	0.86mi
143 W 35th St Indianapolis, IN	3.0	1.0	1235	$1,175	$0.95	7d	1	0.87mi
2920 Ruckle St Indianapolis, IN	3.0	1.5	1272	$1,700	$1.34	7d	1	0.88mi
3457 N Illinois St Indianapolis, IN	3.0	2.0	1230	$1,145	$0.93	23d	1	0.88mi
2141 N Talbott St Indianapolis, IN	2.0	2.5	1556	$2,600	$1.67	12d	1	0.89mi

Listing history 17 events

1. 2026-06-18
   days on market $70,000 Active 59 DOM
2. 2026-06-17
   days on market $70,000 Active 58 DOM
3. 2026-06-16
   days on market $70,000 Active 57 DOM
4. 2026-06-15
   days on market $70,000 Active 56 DOM
5. 2026-06-13
   days on market $70,000 Active 54 DOM
6. 2026-06-13
   days on market $70,000 Active 53 DOM
7. 2026-06-09
   days on market $70,000 Active 50 DOM
8. 2026-06-08
   days on market $70,000 Active 49 DOM
9. 2026-06-07
   days on market $70,000 Active 48 DOM
10. 2026-06-03
    days on market $70,000 Active 44 DOM
11. 2026-06-02
    days on market $70,000 Active 43 DOM
12. 2026-06-01
    days on market $70,000 Active 42 DOM
13. 2026-05-31
    days on market $70,000 Active 41 DOM
14. 2026-05-11
    status Pending 741-char remark

    Show marketing remark (741 chars)

    A rare opportunity in a prime location with exceptional potential and long-term value. Ideally situated just minutes from the Children's Museum, local universities, and downtown Indianapolis, this home offers both convenience and strong market positioning. This 2-bedroom home includes a versatile upper level, ideal for a potential third bedroom or an additional living area. Surrounded by comparable properties supporting continued growth and strong resale value, this home is well-positioned for those seeking to personalize a residence, build equity, or explore rental or resale potential. A unique blend of location, flexibility, and opportunity, ready for its next chapter. Schedule your showing today and begin your next chapter here!

15. 2026-05-04
    price $70,000 741-char remark

    Show marketing remark (741 chars)

    A rare opportunity in a prime location with exceptional potential and long-term value. Ideally situated just minutes from the Children's Museum, local universities, and downtown Indianapolis, this home offers both convenience and strong market positioning. This 2-bedroom home includes a versatile upper level, ideal for a potential third bedroom or an additional living area. Surrounded by comparable properties supporting continued growth and strong resale value, this home is well-positioned for those seeking to personalize a residence, build equity, or explore rental or resale potential. A unique blend of location, flexibility, and opportunity, ready for its next chapter. Schedule your showing today and begin your next chapter here!

16. 2026-04-20
    price $80,000 741-char remark

    Show marketing remark (741 chars)

    A rare opportunity in a prime location with exceptional potential and long-term value. Ideally situated just minutes from the Children's Museum, local universities, and downtown Indianapolis, this home offers both convenience and strong market positioning. This 2-bedroom home includes a versatile upper level, ideal for a potential third bedroom or an additional living area. Surrounded by comparable properties supporting continued growth and strong resale value, this home is well-positioned for those seeking to personalize a residence, build equity, or explore rental or resale potential. A unique blend of location, flexibility, and opportunity, ready for its next chapter. Schedule your showing today and begin your next chapter here!

17. 2026-04-02
    listed $90,000 Active 741-char remark

    Show marketing remark (741 chars)

    A rare opportunity in a prime location with exceptional potential and long-term value. Ideally situated just minutes from the Children's Museum, local universities, and downtown Indianapolis, this home offers both convenience and strong market positioning. This 2-bedroom home includes a versatile upper level, ideal for a potential third bedroom or an additional living area. Surrounded by comparable properties supporting continued growth and strong resale value, this home is well-positioned for those seeking to personalize a residence, build equity, or explore rental or resale potential. A unique blend of location, flexibility, and opportunity, ready for its next chapter. Schedule your showing today and begin your next chapter here!

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast IN · Partial reset (capped growth)

• Current annual tax: $1,018 · $85/mo
• Projected year-2 tax: $1,018 · $85/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone X (unshaded) · 75% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 4/10 Moderate 7 d/yr ≥101°F today · 19 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 0% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 5 unhealthy d/yr today · 7 by 30 yrs out

Taxation est. · year 1

• Rental income: $17,117
• − Mortgage interest: −$3,921
• − Property taxes: −$1,018
• − Insurance: −$350
• − Repairs & maintenance: −$1,369
• − Management: −$1,369
• − Depreciation: −$2,036
• Taxable income: $7,053
• Est. tax owed @ 24.0%: −$1,693
• After-tax cash flow: $6,057/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Indianapolis Public Schools
• NCES district ID: 1804770
• Math proficiency: 14% ▼ -7.00%
• Reading proficiency: 20% ▼ -3.00%
• Median HH income: $32,034
• Composite: 13.69/100
• National rank: #9499
• State rank: #286 of 301 in IN

Livability — Indianapolis city (balance)

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• Census place: Indianapolis city (balance), IN
• County: Marion County · 998,460 people
• City population: 881,119
• Metro: Indianapolis-Carmel-Anderson, IN
• Population (ZIP): 22,379
• Household income: $60,062
• Rent vs Own: 44.1% rent · 55.9% own
• Severe rent burden: 978.0

Population outlook (Marion County) Hauer SSP2

• Today (2025): 1,025,572 people
• By 2030: 1,065,727 · +3.9%
• By 2040: 1,141,577 · +11.3%
• By 2050: 1,208,920 · +17.9%
• By 2075: 1,367,288 · +33.3%
• By 2100: 1,438,201 · +40.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.62)
• Race & ethnicity: White 46% Black 40% Hispanic / Latino 8% Two or more races 6% Asian 2%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Romanian 2% Slovak 2% Italian 1%
• Foreign-born: 4% · Canada
• Languages at home: 93% English-only · Spanish 5% French/Haitian/Cajun 1% Other Indo-European 1%

Political lean MEDSL · Marion

• 2024 margin: Strong D (+27.7) · D 63.0% · R 35.3% · Other 1.7%
• 2008→2024 swing: -0.7pp no change · 2008: 28.4pp · 2024: 27.7pp
• All cycles: 2024: D+27.7 2020: D+29.1 2016: D+22.8 2012: D+22.2 2008: D+28.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -324.63%
• Current HPI: 319.7725
• Rent YoY: ▲ 6.43%
• Metro: Indianapolis-Carmel-Anderson, IN
• State GDP YoY: ▲ 2.90%
• F500 in state: 18

Industry mix (Fortune 500 HQ in IN)

Industry	F500 HQs	Revenue
▸Industrial Machinery	2	$37B
▸Healthcare	1	$177B
▸Pharmaceuticals	1	$45B
▸Metals / Steel	1	$18B
▸Agriculture	1	$17B
▸Packaging	1	$12B

Price history

-22.2% since first listed

4 events — show timeline

• 2026-05-11 Pending — MIBOR as Distributed by MLS Grid
• 2026-05-04 Price Changed $70,000 MIBOR as Distributed by MLS Grid
• 2026-04-20 Price Changed $80,000 MIBOR as Distributed by MLS Grid
• 2026-04-02 Listed $90,000 MIBOR as Distributed by MLS Grid

Property tax history

-0.1%/yr

Latest (2025): $1,018 · +12.0% YoY. Source: county tax records.