3640 N Temple Ave · Indianapolis city (balance), IN 46218

$109,900

2 bd · 1.0 ba · 1,040 sqft · SingleFamily public records · 96 Days on market

Built 1935 10,019 sqft lot Est $112k · at est.

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Why this score? — see what drove the C+ 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 +27.4/30.0
• DSCR +9.6/10.0
• ARV discount +8.5/15.0
• 1% rule +7.4/10.0
• Rent growth +2.7/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.4/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

2 bedroom bungalow with large covered front porch and 2 car detached garage. The interior features a brick fireplace and built ins. Home needs some TLC.

Key facts

• Stone countertops
• Sunroom
• Shaker cabinets

Tags

• SUNROOM
• FENCED BACKYARD
• STONE COUNTERTOPS
• SHAKER CABINETS

Property features AI

Exterior

• Parking: Detached 2-car garage (approximately 440 sq ft)
• Utilities: Public water; Municipal sewer connected
• Home design: Single-family residence; One level
• Construction: Vinyl siding and brick exterior; Concrete perimeter foundation
• Exterior features: Less than 1/4 acre lot (approximately 0.23 acres)

Interior

• Kitchen: Electric oven; Refrigerator; Range hood; Water heater
• Bedrooms: Two bedrooms on the main level (examples: one is 11x10)
• Bathrooms: One full bathroom on the main level
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: Attic access; Interior-entry basement; Masonry fireplace in the living room; Has basement; Has view
• Laundry & utility: Dedicated laundry room

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $110k.

Deal economics

• At list price, monthly cash flow is $321 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $110k).
• Recommended offer: $100k (9.0% below list) — sets the bar for market timing.
• Cap rate 9.8% 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 C — 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 flat; 334 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); lower-income renter base — watch delinquency; 1,906 units permitted in Marion County in 2024 (621 in 5+ unit buildings).
• This rent runs 43% of the median local income ($38k/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 $760 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.

Negotiation context

• It's been on market 96 days — a 9% lower offer ($100k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 21y ago; this cycle's ask has dropped $10k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $8k; list at $110k implies a 1274% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1935 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $100,009 (9.0% below list)

Questions for the listing agent

1. It's been on market 96 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1935 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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.
6. 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.
7. 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: 1.24% ✓
• Cap rate: 9.80%
• Cash-on-cash: 12.53%
• DSCR: 1.56
• GRM: 6.7

CMA / ARV

• ARV (on-the-fly): $112,320
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3724 Caroline Ave	0.40mi	3/1.0 (+1)	1,032 (-1%)	8mo	$72,000	$70	68
2324 E 36th St	0.22mi	3/2.5 (+1)	1,062 (+2%)	12mo	$190,000	$179	65
4034 N Temple Ave	0.47mi	2/1.0	1,052 (+1%)	14mo	$72,000	$68	65
3034 E 35th St	0.40mi	3/1.5 (+1)	1,080 (+4%)	7mo	$63,000	$58	62
3460 N Oxford St	0.28mi	3/1.0 (+1)	1,176 (+13%)	6mo	$50,000	$43	55
3649 Ralston Ave	0.65mi	2/1.0	1,008 (-3%)	16mo	$140,000	$139	51
3624 N Parker Ave	0.27mi	3/2.0 (+1)	1,179 (+13%)	8mo	$125,000	$106	50
3932 Millersville Dr	0.47mi	3/1.0 (+1)	925 (-11%)	10mo	$100,000	$108	47
3125 N Tacoma Ave	0.66mi	3/1.5 (+1)	1,104 (+6%)	9mo	$175,000	$159	44
3317 Adams St	0.69mi	3/1.0 (+1)	988 (-5%)	12mo	$70,000	$71	44
3612 Schofield Ave	0.61mi	3/1.0 (+1)	950 (-9%)	11mo	$126,000	$133	43
2217 E 34th St	0.44mi	3/1.0 (+1)	912 (-12%)	15mo	$163,450	$179	42

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 · 0.81% rent growth · sell at horizon

5-year hold

• IRR: -0.2%
• Equity multiple: 0.99×
• Total profit: $-276
• Equity at exit: $16,386

10-year hold

• IRR: 7.0%
• Equity multiple: 1.48×
• Total profit: $14,618
• Equity at exit: $9,502

Cash invested: $30,772 (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 46218

• Home prices YoY: -17.1%
• Rents YoY: 0.8%
• Active inventory: 334
• Price-to-rent: 6.7×

Monthly cashflow live

• Estimated rent: $1,365 high
• Mortgage (P&I): −$576
• Tax from tax record: −$135 /mo · $1,623/yr
• Insurance: −$46
• HOA: −$0
• Vacancy / Maint / Mgmt: −$287
• Net cashflow: $321

Break-even live

Break-even rent $959

Max offer price $109,900

Occupancy floor 71%

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: $27,475
• Closing costs: $3,297
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3741 N Tacoma Ave Indianapolis, IN	3.0	1.0	913	$2,200	$2.41	18d	1	0.12mi
3535 N Oxford St Indianapolis, IN	3.0	1.0	1015	$1,500	$1.48	22d	1	0.26mi
3763 Baltimore Ave Unit 3765 Indianapolis, IN	1.0	1.0	750	$750	$1.00	44d	1	0.30mi
3472 N Dearborn St Indianapolis, IN	2.0	1.0	890	$1,099	$1.23	20d	1	0.42mi
3723 Orchard Ave Unit 3723 Indianapolis, IN	1.0	1.5	700	$1,300	$1.86	24d	1	0.48mi
3363 Nicholas Ave Indianapolis, IN	2.0	1.0	720	$1,000	$1.39	4d	1	0.53mi
1902 E 35th St Indianapolis, IN	3.0	1.0	1100	$1,600	$1.45	44d	1	0.60mi
3522 N Olney St Indianapolis, IN	3.0	1.0	768	$1,300	$1.69	44d	1	0.64mi
3421 N Olney St Indianapolis, IN	2.0	1.0	720	$1,195	$1.66	16d	1	0.71mi
3121 Baltimore Ave Indianapolis, IN	3.0	1.0	1232	$7,865	$6.38	8d	1	0.72mi
3615 Sherman Forest Dr Indianapolis, IN	4.0	1.0–2.5	1057	$1,288	$1.22	4d	1	0.77mi
4115 Meadows Dr Indianapolis, IN	1.0–3.0	1.0–2.0	1013	$1,374	$1.36	44d	9	0.80mi
3383 Station St Indianapolis, IN	3.0	1.0	744	$1,250	$1.68	24d	1	0.88mi
3725 N Sherman Dr #7 Indianapolis, IN	2.0	1.0	729	$845	$1.16	4d	1	0.89mi
2931 N Tacoma Ave Unit 31 Indianapolis, IN	2.0	1.0	800	$950	$1.19	8d	1	0.92mi
4301 Crittenden Ave Indianapolis, IN	2.0	1.0	1376	$1,350	$0.98	44d	1	0.93mi
4303 Norwaldo Ave Indianapolis, IN	3.0	1.0	1050	$1,200	$1.14	44d	1	0.97mi
4326 Crittenden Ave Indianapolis, IN	2.0	1.0	812	$1,045	$1.29	20d	1	0.99mi
4400 E Fall Creek Parkway North Dr Indianapolis, IN	1.0–2.0	1.0–1.5	857	$1,349	$1.57	2d	31	0.99mi
3207 N Arsenal Ave Indianapolis, IN	3.0	1.0	994	$1,195	$1.20	24d	1	1.02mi
2949 Adams St Indianapolis, IN	2.0	1.0	978	$1,150	$1.18	44d	1	1.03mi
2920 N Lasalle St Indianapolis, IN	3.0	1.0	875	$1,095	$1.25	18d	1	1.03mi
4309 Ralston Ave Indianapolis, IN	3.0	1.0	918	$1,600	$1.74	15d	1	1.06mi
3541 Birchwood Ave Indianapolis, IN	3.0	1.0	1400	$1,549	$1.11	12d	1	1.09mi
4448 Evanston Ave Unit B Indianapolis, IN	2.0	1.5	1500	$1,400	$0.93	44d	1	1.10mi
4448 Evanston Ave Unit B Indianapolis, IN	2.0	1.5	1500	$1,275	$0.85	22d	1	1.10mi
2820 Caroline Ave Indianapolis, IN	3.0	1.5	1112	$1,250	$1.12	24d	1	1.11mi
2511 E 46th St Indianapolis, IN	1.0–2.0	1.0–2.0	830	$1,305	$1.57	44d	2	1.12mi
3476 Birchwood Ave Indianapolis, IN	3.0	1.5	1420	$1,625	$1.14	24d	1	1.13mi
3132 Dr Andrew J Brown Ave Indianapolis, IN	2.0	1.0–2.0	791	$2,120	$2.68	2d	46	1.14mi
2830 Lasalle St Unit 28 Indianapolis, IN	2.0	1.0	1400	$1,100	$0.79	44d	1	1.14mi
2827 Adams St Indianapolis, IN	3.0	2.0	1200	$1,512	$1.26	2d	1	1.18mi
3909 Winthrop Ave Unit B Indianapolis, IN	2.0	1.5	931	$1,550	$1.66	12d	1	1.19mi
4521 Norwaldo Ave Unit A Indianapolis, IN	2.0	1.5	1024	$1,525	$1.49	24d	1	1.22mi
4521 Norwaldo Ave Unit B Indianapolis, IN	2.0	1.5	1054	$1,600	$1.52	44d	1	1.22mi
916 Fairfield Ave Unit 918 Indianapolis, IN	3.0	1.0	1000	$1,300	$1.30	8d	1	1.22mi
3509 Guilford Ave Indianapolis, IN	3.0	1.5	1351	$1,445	$1.07	15d	1	1.24mi
3139 Guilford Ave Indianapolis, IN	3.0	1.0	1068	$1,345	$1.26	44d	1	1.29mi
3920 E 30th St Indianapolis, IN	3.0	1.0	1071	$1,350	$1.26	8d	1	1.29mi
3920 E 30th St Indianapolis, IN	3.0	1.0	1071	$1,350	$1.26	4d	1	1.29mi

Listing history 19 events

1. 2026-04-30
   status Pending
2. 2026-04-17
   price $109,900
3. 2026-03-26
   status Active
4. 2026-03-19
   status Pending
5. 2026-01-16
   listed $119,900 Active
6. 2025-12-21
   historical
7. 2025-11-28
   status Active
8. 2025-11-24
   status Pending
9. 2025-11-16
   price $119,900
10. 2025-10-11
    price $129,900
11. 2025-09-11
    price $139,900
12. 2025-08-21
    listed $144,900 Active
13. 2010-04-20
    historical 152-char remark

    Show marketing remark (152 chars)

    2 bedroom bungalow with large covered front porch and 2 car detached garage. The interior features a brick fireplace and built ins. Home needs some TLC.

14. 2010-04-19
    soldstatus $8,000 152-char remark

    Show marketing remark (152 chars)

    2 bedroom bungalow with large covered front porch and 2 car detached garage. The interior features a brick fireplace and built ins. Home needs some TLC.

15. 2010-02-03
    listed $9,900 152-char remark

    Show marketing remark (152 chars)

    2 bedroom bungalow with large covered front porch and 2 car detached garage. The interior features a brick fireplace and built ins. Home needs some TLC.

16. 2008-08-10
    historical
17. 2008-03-11
    listed $47,000
18. 2006-02-04
    historical
19. 2005-10-04
    listed $32,000

ⓘ 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: $1,623 · $135/mo
• Projected year-2 tax: $1,623 · $135/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 4/10 Moderate FEMA zone X (unshaded) · 20% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥102°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: $16,383
• − Mortgage interest: −$6,156
• − Property taxes: −$1,623
• − Insurance: −$550
• − Repairs & maintenance: −$1,311
• − Management: −$1,311
• − Depreciation: −$3,197
• Taxable income: $2,236
• Est. tax owed @ 24.0%: −$537
• After-tax cash flow: $3,318/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): 29,360
• Household income: $38,063
• Rent vs Own: 47.2% rent · 52.8% own
• Severe rent burden: 2340.0

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: Predominantly Black (68%)
• Race & ethnicity: Black 68% White 18% Hispanic / Latino 9% Two or more races 6%
• Hispanic origin (detail): Mexican 6%
• Common ancestry: Romanian 1%
• Foreign-born: 5% · Canada, Philippines
• Languages at home: 92% English-only · Spanish 7%

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: ▼ -81.57%
• Current HPI: 395.7071
• Rent YoY: ▲ 0.81%
• 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

+243.4% since first listed

19 events — show timeline

• 2026-04-30 Pending — MIBOR as Distributed by MLS Grid
• 2026-04-17 Price Changed $109,900 MIBOR as Distributed by MLS Grid
• 2026-03-26 Relisted — MIBOR as Distributed by MLS Grid
• 2026-03-19 Pending — MIBOR as Distributed by MLS Grid
• 2026-01-16 Listed $119,900 MIBOR as Distributed by MLS Grid
• 2025-12-21 Listing Removed — MIBOR as Distributed by MLS Grid
• 2025-11-28 Relisted — MIBOR as Distributed by MLS Grid
• 2025-11-24 Pending — MIBOR as Distributed by MLS Grid
• 2025-11-16 Price Changed $119,900 MIBOR as Distributed by MLS Grid
• 2025-10-11 Price Changed $129,900 MIBOR as Distributed by MLS Grid
• 2025-09-11 Price Changed $139,900 MIBOR as Distributed by MLS Grid
• 2025-08-21 Listed $144,900 MIBOR as Distributed by MLS Grid
• 2010-04-20 Listing Removed — MIBOR as Distributed by MLS Grid
• 2010-04-19 Sold (MLS) $8,000 MIBOR as Distributed by MLS Grid
• 2010-02-03 Listed $9,900 MIBOR as Distributed by MLS Grid
• 2008-08-10 Listing Removed — MIBOR as Distributed by MLS Grid
• 2008-03-11 Listed $47,000 MIBOR as Distributed by MLS Grid
• 2006-02-04 Listing Removed — MIBOR as Distributed by MLS Grid
• 2005-10-04 Listed $32,000 MIBOR as Distributed by MLS Grid

Property tax history

+6.0%/yr

Latest (2025): $1,623 · +7.2% YoY. Source: county tax records.