5917 E 45th St · Indianapolis city (balance), IN 46226

$94,900

3 bd · 1.0 ba · 1,176 sqft · SingleFamily public records · 11 Days on market

Built 1956 10,629 sqft lot $81/sqft · 43% below area Est $167k · 43% under

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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 +27.8/30.0
• ARV discount +15.0/15.0
• DSCR +9.8/10.0
• 1% rule +8.5/10.0
• Rent growth +4.2/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.4/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Ranch property that has been updated with roof and gutters in 2018, New siding and windows in 2015, new furnace in 2016. Unit is tenant occupied

Key facts

• Functional kitchen
• Large yard
• Spacious living room

Tags

• SPACIOUS LIVING ROOM
• FUNCTIONAL KITCHEN
• DEDICATED DINING AREA
• LARGE YARD
• QUICK INTERSTATE ACCESS

Property features AI

Finance

• Other: Lot approximately 0.24 acres (< 1/4 acre)

Exterior

• Parking: Attached garage (1 car, approximately 392 sq ft); Gravel parking
• Utilities: Public water; Municipal sewer connected; No solid waste service listed
• Home design: Single family residence; One story
• Construction: Vinyl siding and brick exterior; Slab foundation
• Exterior features: Full fence; Mature trees; Sidewalks; Street lights; Property has a view

Interior

• Kitchen: Electric oven; Refrigerator
• Bedrooms: Three bedrooms on the main level (sizes include 11x13, 9x13, 11x11)
• Bathrooms: One full bathroom with tub/shower
• Heating & cooling: Forced air heating (natural gas); Central air conditioning
• Interior features: Attic access; Painted woodwork; Smoke alarm
• Laundry & utility: Gas water heater

🏷️ Possibly a rental listed for sale. The $94,900 price doesn't fit this home's estimated sale value (~$166,877) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $95k.

Deal economics

• At list price, monthly cash flow is $288 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $95k).
• Cap rate 9.9% 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 (+6.8%/yr); 153 active listings in the ZIP; 36 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 44% 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).
• This rent runs 31% of the median local income ($50k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $656 of loan paydown is wiped out by about $3k 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 + 6.8% rent growth), your $27k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• Only 11 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 6y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $60k; list at $95k implies a 57% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1956 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $94,900

Questions for the listing agent

1. Built in 1956 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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.
4. 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.
5. 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: 1.35% ✓
• Cap rate: 9.93%
• Cash-on-cash: 13.00%
• DSCR: 1.58
• GRM: 6.2

CMA / ARV

• ARV (median comp): $166,877
• List price: $94,900
• Delta: -43.13%
• 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
4464 N Campbell Ave	0.06mi	3/1.5	1,176 (0%)	5mo	$160,000	$136	91
4463 N Bolton Ave	0.10mi	3/1.0	1,176 (0%)	6mo	$148,500	$126	90
4509 Priscilla Ave	0.17mi	3/1.0	1,176 (0%)	3mo	$125,000	$106	90
6401 E 44th Pl	0.48mi	3/1.0	1,180 (+0%)	0mo	$155,000	$131	77
4511 N Kenmore Rd	0.41mi	3/1.5	1,160 (-1%)	1mo	$121,000	$104	76
4443 N Kenyon Dr	0.49mi	3/1.0	1,160 (-1%)	1mo	$133,000	$115	74
4502 N Kitley Ave	0.52mi	3/1.5	1,160 (-1%)	7mo	$135,000	$116	65
6161 Meadowlark Dr	0.37mi	3/1.0	1,328 (+13%)	4mo	$150,000	$113	58
5601 Glencoe St	0.68mi	3/1.0	1,152 (-2%)	9mo	$173,000	$150	58
4312 N Pasadena	0.63mi	3/1.0	1,250 (+6%)	3mo	$132,000	$106	57
6108 Roselawn Dr	0.72mi	3/1.0	1,296 (+10%)	3mo	$170,000	$131	47
3912 N Webster Ave	0.74mi	4/1.0 (+1)	1,274 (+8%)	2mo	$125,000	$98	45

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 · 6.76% rent growth · sell at horizon

5-year hold

• IRR: 7.4%
• Equity multiple: 1.30×
• Total profit: $8,063
• Equity at exit: $14,150

10-year hold

• IRR: 20.0%
• Equity multiple: 3.00×
• Total profit: $53,250
• Equity at exit: $8,205

Cash invested: $26,572 (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 46226

• Rents YoY: 6.8%
• Active inventory: 153
• Price-to-rent: 6.2×

Monthly cashflow live

• Estimated rent: $1,285 high
• Mortgage (P&I): −$498
• Tax from tax record: −$190 /mo · $2,277/yr
• Insurance: −$40
• HOA: −$0
• Vacancy / Maint / Mgmt: −$270
• Net cashflow: $288

Break-even live

Break-even rent $920

Max offer price $94,900

Occupancy floor 73%

Sensitivity live

Price	-10% $342	-5% $315	+0% $288	+5% $261	+10% $234
Rent	-10% $186	-5% $237	+0% $288	+5% $339	+10% $389
Rate	-1.0pp $336	-0.5pp $312	base $288	+0.5pp $263	+1.0pp $238

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: $23,725
• Closing costs: $2,847
• Reserves months: —
• Total cash needed: —

Rent comps 36 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4555 N Arlington Ave Indianapolis, IN	1.0–3.0	1.0–1.5	880	$1,379	$1.57	4d	30	0.11mi
5865 E 46th St Indianapolis, IN	3.0	2.0	1400	$1,500	$1.07	44d	1	0.12mi
4504 Park Forest Ct Indianapolis, IN	2.0	1.0	928	$1,180	$1.27	4d	1	0.20mi
4438 Park Forest Ct Indianapolis, IN	2.0	1.0	928	$1,180	$1.27	44d	1	0.21mi
4430 Park Forest Ct Indianapolis, IN	2.0	1.0	928	$1,180	$1.27	44d	1	0.22mi
4545 Park Forest Ct Indianapolis, IN	2.0	1.0	928	$1,180	$1.27	44d	1	0.23mi
4537 Park Forest Ct Indianapolis, IN	2.0	1.0	928	$1,180	$1.27	44d	1	0.23mi
4521 Park Forest Ct Indianapolis, IN	2.0	1.0	700	$1,180	$1.69	5d	1	0.23mi
4445 Park Forest Ct Indianapolis, IN	2.0	1.0	928	$1,180	$1.27	4d	1	0.24mi
4437 Park Forest Ct Indianapolis, IN	2.0	1.0	928	$1,180	$1.27	44d	1	0.24mi
4405 Park Forest Ct Indianapolis, IN	2.0	1.0	928	$1,180	$1.27	24d	1	0.24mi
4404 Park Forest Ct Indianapolis, IN	2.0	1.0	928	$1,180	$1.27	22d	2	0.25mi
4411 Park Forest Ct Indianapolis, IN	2.0	1.0	928	$1,180	$1.27	44d	1	0.27mi
4511 N Kenmore Rd Indianapolis, IN	4.0	2.0	1200	$2,095	$1.75	5d	1	0.43mi
6005 Dickson Rd Unit 4 Indianapolis, IN	2.0	1.0	873	$725	$0.83	44d	1	0.47mi
6015 Dickson Rd #1 Indianapolis, IN	2.0	1.0	825	$950	$1.15	44d	1	0.47mi
6049 Dickson Rd Apt 4 Indianapolis, IN	2.0	1.0	750	$950	$1.27	44d	1	0.49mi
6048 Dickson Rd #3 Indianapolis, IN	2.0	1.0	725	$900	$1.24	44d	1	0.52mi
6108 Dickson Rd Unit 3 Indianapolis, IN	2.0	1.0	750	$900	$1.20	44d	1	0.54mi
6118 Dickson Rd Apt 3 Indianapolis, IN	2.0	1.0	750	$950	$1.27	44d	1	0.54mi
4839 N Kenmore Rd Indianapolis, IN	3.0	2.0	1215	$1,533	$1.26	22d	1	0.54mi
6563 E 46th St Indianapolis, IN	3.0	1.5	1185	$1,250	$1.05	5d	1	0.56mi
6051 Laurel Hall Dr Apt 4 Indianapolis, IN	2.0	1.0	750	$950	$1.27	44d	1	0.57mi
6111 Laurel Hall Dr #1 Indianapolis, IN	2.0	1.0	725	$950	$1.31	24d	1	0.58mi
6111 Laurel Hall Dr #3 Indianapolis, IN	2.0	1.0	725	$950	$1.31	44d	1	0.58mi
6028 Laurel Hall Dr #3 Indianapolis, IN	2.0	1.0	875	$950	$1.09	44d	1	0.59mi
5602 Glencoe St Indianapolis, IN	3.0	1.0	1000	$1,749	$1.75	18d	1	0.65mi
3912 N Webster Ave Indianapolis, IN	4.0	1.0	1274	$1,350	$1.06	22d	1	0.74mi
4307 N Edmondson Ave Indianapolis, IN	3.0	1.0	900	$1,299	$1.44	3d	1	0.84mi
3836 Priscilla Ave Indianapolis, IN	3.0	1.5	1040	$1,275	$1.23	3d	1	0.85mi
3718 N Audubon Rd Indianapolis, IN	3.0	1.0	875	$1,300	$1.49	24d	1	1.04mi
3815 N Grand Ave Unit 3815 Indianapolis, IN	2.0	1.0	965	$1,250	$1.30	5d	1	1.19mi
3900 N Shadeland Ave Indianapolis, IN	1.0–2.0	1.0	1070	$1,075	$1.00	4d	6	1.21mi
3636 N Whittier Pl Indianapolis, IN	3.0	1.0	912	$995	$1.09	8d	1	1.22mi
3639 N Emerson Ave Indianapolis, IN	4.0	1.0	1000	$1,450	$1.45	22d	1	1.42mi
3516 N Hawthorne Ln Indianapolis, IN	3.0	1.0	925	$1,225	$1.32	5d	1	1.43mi

Listing history 5 events

1. 2026-05-12
   status Pending 331-char remark
2. 2026-05-01
   listed $94,900 Active 331-char remark
3. 2020-07-01
   listed $46,000 Active 144-char remark

   Show marketing remark (144 chars)

   Ranch property that has been updated with roof and gutters in 2018, New siding and windows in 2015, new furnace in 2016. Unit is tenant occupied

4. 2020-07-01
   status Pending 144-char remark

   Show marketing remark (144 chars)

   Ranch property that has been updated with roof and gutters in 2018, New siding and windows in 2015, new furnace in 2016. Unit is tenant occupied

5. 2020-06-30
   soldstatus $60,500 Sold 144-char remark

   Show marketing remark (144 chars)

   Ranch property that has been updated with roof and gutters in 2018, New siding and windows in 2015, new furnace in 2016. Unit is tenant occupied

ⓘ 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: $2,277 · $190/mo
• Projected year-2 tax: $2,277 · $190/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 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥101°F today · 18 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: $15,416
• − Mortgage interest: −$5,316
• − Property taxes: −$2,277
• − Insurance: −$474
• − Repairs & maintenance: −$1,233
• − Management: −$1,233
• − Depreciation: −$2,761
• Taxable income: $2,121
• Est. tax owed @ 24.0%: −$509
• After-tax cash flow: $2,945/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): 47,099
• Household income: $50,325
• Rent vs Own: 53.8% rent · 46.2% own
• Severe rent burden: 2742.0

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: Black 53% White 25% Hispanic / Latino 17% Two or more races 9% Asian 2%
• Hispanic origin (detail): Mexican 11%
• Common ancestry: Lithuanian 1% Italian 1% Romanian 1%
• Foreign-born: 11% · Canada
• Languages at home: 86% English-only · Spanish 10% French/Haitian/Cajun 1% Other Asian/Pacific 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: ▼ -218.85%
• Current HPI: 239.43
• Rent YoY: ▲ 6.76%
• 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

+56.9% since first listed

5 events — show timeline

• 2026-05-12 Pending — MIBOR as Distributed by MLS Grid
• 2026-05-01 Listed $94,900 MIBOR as Distributed by MLS Grid
• 2020-07-01 Listed $46,000 MIBOR as Distributed by MLS Grid
• 2020-07-01 Pending — MIBOR as Distributed by MLS Grid
• 2020-06-30 Sold (MLS) $60,500 MIBOR as Distributed by MLS Grid

Property tax history

+5.1%/yr

Latest (2025): $2,277 · -4.6% YoY. Source: county tax records.