2339 Hoyt Ave · Indianapolis city (balance), IN 46203

$104,900

2 bd · 1.0 ba · 634 sqft · SingleFamily public records · 96 Days on market

Built 1908 3,703 sqft lot $165/sqft · 30% below area Est $150k · 30% under

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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 +17.2/30.0
• ARV discount +15.0/15.0
• DSCR +5.4/10.0
• 1% rule +5.2/10.0
• Rent growth +3.2/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.4/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Located between Fletcher Place and Christian Park, this 2 bedroom 1 bath home with detached garage could be the perfect addition to your rental portfolio. Plenty of higher values around this area make this home an opportunity for an investor or contractor owner occupant. Home was previously a rental property and is in need of repairs. Seller will not accept offers from wholesalers, assignments of contract, or sight unseen offers with no due diligence prior. Please see private remarks for the offer process.

Key facts

• 3,703 sq ft lot
• Garage
• Built 1908

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $105k.

Deal economics

• At list price, monthly cash flow is $74 ($892/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $105k).
• Recommended offer: $95k (9.0% below list) — sets the bar for market timing.
• Cap rate 7.1% 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 rising (+2.9%/yr); 499 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 25d 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 $725 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 ($95k) is reasonable based on typical stale-listing flexibility.
• 8 sale attempts since 13y ago; this cycle's ask has dropped $15k (13%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $82k; 27% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1908 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $95,459 (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 1908 — 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: 1.02% ✓
• Cap rate: 7.14%
• Cash-on-cash: 3.04%
• DSCR: 1.14
• GRM: 8.1

CMA / ARV

• ARV (median comp): $150,178
• List price: $104,900
• Delta: -30.15%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 11 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2342 Hoyt Ave	0.04mi	2/1.0	601 (-5%)	12mo	$110,000	$183	80
618 S Temple Ave	0.19mi	2/1.0	672 (+6%)	14mo	$137,000	$204	70
2217 Spann Ave	0.14mi	2/1.0	720 (+14%)	3mo	$177,000	$246	68
2219 Lexington Ave	0.14mi	2/1.0	717 (+13%)	17mo	$178,366	$249	58
524 S Rural St	0.33mi	2/1.0	720 (+14%)	7mo	$148,000	$206	56
520 S Rural St	0.33mi	2/1.0	720 (+14%)	8mo	$95,000	$132	55
2217 Lexington Ave	0.14mi	1/1.0 (-1)	560 (-12%)	17mo	$168,316	$301	55
831 Laurel St	0.73mi	2/1.0	672 (+6%)	4mo	$180,000	$268	53
2011 Southeastern Ave	0.45mi	2/1.5	585 (-8%)	17mo	$168,000	$287	50
230 S Temple Ave	0.52mi	2/1.0	676 (+7%)	22mo	$45,000	$67	47
237 S Keystone Ave	0.47mi	3/1.0 (+1)	716 (+13%)	21mo	$135,000	$189	34

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 · 2.88% rent growth · sell at horizon

5-year hold

• IRR: -11.6%
• Equity multiple: 0.58×
• Total profit: $-12,349
• Equity at exit: $15,641

10-year hold

• IRR: -2.5%
• Equity multiple: 0.83×
• Total profit: $-5,001
• Equity at exit: $9,070

Cash invested: $29,372 (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 46203

• Home prices YoY: -26.7%
• Rents YoY: 2.9%
• Active inventory: 499
• Price-to-rent: 8.1×

Monthly cashflow live

• Estimated rent: $1,073 high
• Mortgage (P&I): −$550
• Tax from tax record: −$180 /mo · $2,155/yr
• Insurance: −$44
• HOA: −$0
• Vacancy / Maint / Mgmt: −$225
• Net cashflow: $74

Break-even live

Break-even rent $979

Max offer price $104,900

Occupancy floor 88%

Sensitivity live

Price	-10% $134	-5% $104	+0% $74	+5% $45	+10% $15
Rent	-10% $-10	-5% $32	+0% $74	+5% $117	+10% $159
Rate	-1.0pp $127	-0.5pp $101	base $74	+0.5pp $47	+1.0pp $19

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: $26,225
• Closing costs: $3,147
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1022 S Churchman Ave Unit 1024 Indianapolis, IN	1.0	1.0	350	$895	$2.56	44d	1	0.28mi
1912 Lexington Ave Unit 1910B Indianapolis, IN	1.0	1.0	660	$850	$1.29	44d	1	0.32mi
423 Villa Ave Indianapolis, IN	1.0	1.0	593	$799	$1.35	24d	1	0.36mi
815 Dawson St Unit 2 Indianapolis, IN	2.0	1.0	600	$1,300	$2.17	5d	1	0.40mi
2025 Southeastern Ave Indianapolis, IN	1.0	1.0	663	$775	$1.17	44d	1	0.44mi
2034 Southeastern Ave Indianapolis, IN	1.0	1.0	525	$850	$1.62	15d	1	0.46mi
247 S Randolph St Indianapolis, IN	2.0	1.0	720	$750	$1.04	44d	1	0.49mi
245 S Randolph St Indianapolis, IN	2.0	1.0	720	$750	$1.04	44d	1	0.49mi
1023 S State Ave Indianapolis, IN	1.0	1.0	600	$1,099	$1.83	24d	1	0.51mi
3022 English Ave Unit 3022 Indianapolis, IN	2.0	1.0	600	$650	$1.08	44d	1	0.52mi
1718 Southeastern Ave Indianapolis, IN	1.0	1.0	700	$1,080	$1.54	44d	1	0.63mi
1026 Laurel St Indianapolis, IN	1.0	1.0	655	$860	$1.31	44d	1	0.71mi
1503 Dawson St Indianapolis, IN	2.0	1.0	700	$1,200	$1.71	44d	1	0.73mi
1441 Prospect St Indianapolis, IN	2.0	1.0–2.0	2840	$2,000	$0.70	2d	13	0.74mi
49 S Rural St Indianapolis, IN	2.0	1.5	750	$950	$1.27	11d	1	0.75mi
270 S Lasalle St Indianapolis, IN	3.0	2.0	562	$1,329	$2.36	8d	1	0.80mi
1306 Woodlawn Ave Unit 1B Indianapolis, IN	1.0	1.0	720	$1,275	$1.77	44d	1	0.80mi
1306 Woodlawn Ave Unit 1D Indianapolis, IN	1.0	1.0	391	$1,025	$2.62	44d	1	0.80mi
1224 Prospect St Indianapolis, IN	2.0	1.0–2.0	691	$2,235	$3.23	2d	8	0.87mi
1640 Asbury St Indianapolis, IN	1.0	1.0	700	$850	$1.21	44d	1	0.90mi
1727 S Randolph St Indianapolis, IN	1.0	1.0	616	$950	$1.54	44d	1	0.92mi
2211 E New York St Unit B Indianapolis, IN	1.0	1.0	650	$725	$1.12	23d	1	0.98mi
1044 Shelby St Unit 205 CDBG 80% Indianapolis, IN	1.0	1.0	579	$650	$1.12	18d	1	1.00mi
1329 E Market St Unit 8 Indianapolis, IN	1.0	1.0	480	$945	$1.97	23d	1	1.05mi
330 N Arsenal Ave Unit B Indianapolis, IN	2.0	1.0	700	$1,100	$1.57	8d	1	1.16mi
332 N Arsenal Ave Unit A Indianapolis, IN	2.0	1.0	750	$1,150	$1.53	8d	1	1.16mi
1117 E Market St Indianapolis, IN	2.0	1.0–2.0	803	$1,875	$2.33	4d	15	1.17mi
415 N Oxford St Indianapolis, IN	1.0	1.0	580	$650	$1.12	24d	1	1.19mi
1556 Shelby St Indianapolis, IN	2.0	1.0	500	$1,000	$2.00	44d	1	1.21mi
1558 Shelby St Indianapolis, IN	1.0	1.0	500	$1,000	$2.00	44d	1	1.21mi
471 N State Ave Unit 1 Indianapolis, IN	1.0	1.0	634	$785	$1.24	44d	1	1.26mi
37 S Sherman Dr Indianapolis, IN	1.0	1.0	700	$800	$1.14	24d	1	1.31mi
1515 E Michigan St Apt 2 Indianapolis, IN	1.0	1.0	700	$825	$1.18	21d	1	1.32mi
718 E Georgia St Indianapolis, IN	2.0	1.0–2.0	904	$1,777	$1.96	4d	15	1.32mi
520 Virginia Ave Apt 24 Indianapolis, IN	1.0	1.0	665	$1,575	$2.37	24d	1	1.34mi
531 Virginia Ave Indianapolis, IN	1.0	1.0	642	$1,384	$2.16	8d	4	1.36mi
621 Tecumseh St Indianapolis, IN	2.0	1.0	726	$1,025	$1.41	44d	1	1.40mi
679 Woodruff Place East Dr Indianapolis, IN	1.0	1.0	600	$895	$1.49	24d	1	1.40mi
628 N Oxford St Indianapolis, IN	1.0	1.0	536	$775	$1.45	24d	1	1.43mi
140 Pope St Indianapolis, IN	2.0	1.0–2.0	734	$1,825	$2.49	3d	23	1.50mi

Listing history 41 events

1. 2026-06-21
   days on market $104,900 Active 96 DOM
2. 2026-06-18
   days on market $104,900 Active 93 DOM
3. 2026-06-17
   days on market $104,900 Active 92 DOM
4. 2026-06-16
   days on market $104,900 Active 91 DOM
5. 2026-06-15
   days on market $104,900 Active 90 DOM
6. 2026-06-13
   days on market $104,900 Active 88 DOM
7. 2026-06-13
   days on market $104,900 Active 87 DOM
8. 2026-06-09
   days on market $104,900 Active 84 DOM
9. 2026-06-08
   days on market $104,900 Active 83 DOM
10. 2026-06-07
    days on market $104,900 Active 82 DOM
11. 2026-06-03
    pricedays on market $104,900 Active 78 DOM
12. 2026-06-02
    days on market $109,900 Active 77 DOM
13. 2026-06-01
    days on market $109,900 Active 76 DOM
14. 2026-05-31
    days on market $109,900 Active 75 DOM
15. 2026-05-01
    price $109,900 511-char remark

    Show marketing remark (511 chars)

    Located between Fletcher Place and Christian Park, this 2 bedroom 1 bath home with detached garage could be the perfect addition to your rental portfolio. Plenty of higher values around this area make this home an opportunity for an investor or contractor owner occupant. Home was previously a rental property and is in need of repairs. Seller will not accept offers from wholesalers, assignments of contract, or sight unseen offers with no due diligence prior. Please see private remarks for the offer process.

16. 2026-03-31
    price $114,900 511-char remark

    Show marketing remark (511 chars)

    Located between Fletcher Place and Christian Park, this 2 bedroom 1 bath home with detached garage could be the perfect addition to your rental portfolio. Plenty of higher values around this area make this home an opportunity for an investor or contractor owner occupant. Home was previously a rental property and is in need of repairs. Seller will not accept offers from wholesalers, assignments of contract, or sight unseen offers with no due diligence prior. Please see private remarks for the offer process.

17. 2026-03-17
    listed $119,900 Active 511-char remark

    Show marketing remark (511 chars)

    Located between Fletcher Place and Christian Park, this 2 bedroom 1 bath home with detached garage could be the perfect addition to your rental portfolio. Plenty of higher values around this area make this home an opportunity for an investor or contractor owner occupant. Home was previously a rental property and is in need of repairs. Seller will not accept offers from wholesalers, assignments of contract, or sight unseen offers with no due diligence prior. Please see private remarks for the offer process.

18. 2023-05-15
    historical
19. 2022-11-23
    listed $159,900 Active
20. 2022-10-12
    soldstatus $82,500 Closed
21. 2022-09-28
    status Pending
22. 2022-08-29
    price $89,999
23. 2022-08-17
    price $94,999
24. 2022-08-05
    listed $99,999 Active
25. 2017-06-19
    soldstatus $50,000 Sold
26. 2017-04-03
    status Pending
27. 2017-03-07
    listed $49,900 Active
28. 2016-12-07
    soldstatus $21,900 Sold
29. 2016-11-18
    historical Active with Contingency
30. 2016-10-25
    price $29,900
31. 2016-06-29
    listed $33,000 Active
32. 2016-06-11
    historical
33. 2016-05-02
    price $33,000
34. 2016-01-18
    price $35,000
35. 2016-01-11
    status Active
36. 2015-12-31
    historical
37. 2015-09-10
    historical Active with Contingency
38. 2015-05-12
    price $39,000
39. 2014-12-23
    price $39,200
40. 2014-12-23
    status Active
41. 2013-12-30
    listed $39,400

ⓘ 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: $2,155 · $180/mo
• Projected year-2 tax: $2,155 · $180/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 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: $12,877
• − Mortgage interest: −$5,876
• − Property taxes: −$2,155
• − Insurance: −$524
• − Repairs & maintenance: −$1,030
• − Management: −$1,030
• − Depreciation: −$3,052
• Taxable loss: −$791
• Est. tax savings @ 24.0%: +$190
• After-tax cash flow: $1,082/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): 37,758
• Household income: $57,393
• Rent vs Own: 42.2% rent · 57.8% own
• Severe rent burden: 1499.0

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 White (69%)
• Race & ethnicity: White 69% Hispanic / Latino 14% Black 12% Two or more races 8% Asian 2% Native American 1%
• Hispanic origin (detail): Mexican 12% Puerto Rican 1%
• Common ancestry: Slovak 2% Lithuanian 2% Italian 1%
• Foreign-born: 8% · Canada
• Languages at home: 88% English-only · Spanish 10% 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: ▼ -127.37%
• Current HPI: 349.579
• Rent YoY: ▲ 2.88%
• 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

+178.9% since first listed

27 events — show timeline

• 2026-05-01 Price Changed $109,900 MIBOR as Distributed by MLS Grid
• 2026-03-31 Price Changed $114,900 MIBOR as Distributed by MLS Grid
• 2026-03-17 Listed $119,900 MIBOR as Distributed by MLS Grid
• 2023-05-15 Listing Removed — MIBOR as Distributed by MLS Grid
• 2022-11-23 Listed $159,900 MIBOR as Distributed by MLS Grid
• 2022-10-12 Sold (MLS) $82,500 MIBOR as Distributed by MLS Grid
• 2022-09-28 Pending — MIBOR as Distributed by MLS Grid
• 2022-08-29 Price Changed $89,999 MIBOR as Distributed by MLS Grid
• 2022-08-17 Price Changed $94,999 MIBOR as Distributed by MLS Grid
• 2022-08-05 Listed $99,999 MIBOR as Distributed by MLS Grid
• 2017-06-19 Sold (MLS) $50,000 MIBOR as Distributed by MLS Grid
• 2017-04-03 Pending — MIBOR as Distributed by MLS Grid
• 2017-03-07 Listed $49,900 MIBOR as Distributed by MLS Grid
• 2016-12-07 Sold (MLS) $21,900 MIBOR as Distributed by MLS Grid
• 2016-11-18 Contingent — MIBOR as Distributed by MLS Grid
• 2016-10-25 Price Changed $29,900 MIBOR as Distributed by MLS Grid
• 2016-06-29 Listed $33,000 MIBOR as Distributed by MLS Grid
• 2016-06-11 Listing Removed — MIBOR as Distributed by MLS Grid
• 2016-05-02 Price Changed $33,000 MIBOR as Distributed by MLS Grid
• 2016-01-18 Price Changed $35,000 MIBOR as Distributed by MLS Grid
• 2016-01-11 Relisted — MIBOR as Distributed by MLS Grid
• 2015-12-31 Listing Removed — MIBOR as Distributed by MLS Grid
• 2015-09-10 Contingent — MIBOR as Distributed by MLS Grid
• 2015-05-12 Price Changed $39,000 MIBOR as Distributed by MLS Grid
• 2014-12-23 Price Changed $39,200 MIBOR as Distributed by MLS Grid
• 2014-12-23 Relisted — MIBOR as Distributed by MLS Grid
• 2013-12-30 Listed $39,400 MIBOR as Distributed by MLS Grid

Property tax history

+22.6%/yr

Latest (2025): $2,155 · +13.0% YoY. Source: county tax records.