109 S 3rd Ave · Beech Grove, IN 46107

$120,000

2 bd · 1.0 ba · 677 sqft · SingleFamily public records · 38 Days on market

Built 1940 5,314 sqft lot $177/sqft · 22% above area Est $193k · 38% under

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Why this score? — see what drove the D 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).

• ARV discount +15.0/15.0
• Cash flow +11.4/30.0
• 1% rule +3.4/10.0
• DSCR +3.3/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.9/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

This home could be an excellent buy for either a family or investor. Home has been well maintained and at that price is will not last long.

Key facts

• Covered front porch
• 5,314 sq ft lot
• Garage

Tags

• IMMEDIATE INCOME POTENTIAL
• FUNCTIONAL FLOOR PLAN
• COVERED FRONT PORCH
• LOW MAINTENANCE EXTERIOR
• QUICK INTERSTATE ACCESS

Property features AI

Finance

• Other: Property sits on approximately 0.12 acres

Exterior

• Parking: Detached 1-car garage
• Utilities: Public water; Municipal sewer connected
• Home design: Single family residence; Attached property; One story
• Construction: Vinyl siding; Block foundation
• Exterior features: Covered patio/porch

Interior

• Kitchen: Electric oven; Refrigerator
• Bedrooms: 2 bedrooms on the main level
• Bathrooms: 1 full bathroom on the main level
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: Electric oven; Refrigerator; Covered patio/porch; Basement present
• Laundry & utility: Solid waste service available

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $120k.

Deal economics

• At list price, monthly cash flow is $-42 ($-507/yr) — negative.
• To cash-flow at today's rent, offer at most $113k (6.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $101k (15.9% below list).
• Recommended offer: $101k (15.9% below list) — sets the bar for 1% rule.
• Cap rate 5.9% vs local median 4.4% in Beech Grove — 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 63/100 on livability (#418 in IN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: health & safety C-, amenities F, commute F.
• Beech Grove City Schools (suburban): math 17% / reading 29% proficiency, ranked #269 of 301 in IN (top 89%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Hornet Park Elementary School (456 students, 75% FRL); Beech Grove Middle School (math 13% / reading 24%, grade F, #276 of 330 statewide, top 84%, 476 students, 78% FRL); Beech Grove Sr High School (math 17% / reading 47%, grade F, #295 of 369 statewide, top 82%, 918 students, 71% FRL) — zoned schools average 75% FRL vs 58% district-wide (17 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 75 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals lingering (median 46d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 50% 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 $830 of loan paydown is wiped out by about $4k 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 38 days — a 3% lower offer ($116k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 23y 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 $36k; list at $120k implies a 233% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1940 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $100,956 (15.9% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 38 days. Have you received any prior offers? Is the seller open to a 16% concession, seller financing, or rate buy-down credit?
3. Built in 1940 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
6. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
7. 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.
8. 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.
9. 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: 0.84% ✗
• Cap rate: 5.87%
• Cash-on-cash: -1.51%
• DSCR: 0.93
• GRM: 9.9

CMA / ARV

• ARV (median comp): $192,733
• List price: $120,000
• Delta: -37.74%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
141 N 6th Ave	0.41mi	2/1.0	720 (+6%)	3mo	$135,000	$188	68
67 S 3rd Ave	0.08mi	2/1.0	775 (+14%)	7mo	$170,000	$219	67
515 Fletcher Ln	0.37mi	2/1.0	720 (+6%)	9mo	$175,000	$243	65
90 N 6th Ave	0.34mi	2/1.0	775 (+14%)	14mo	$188,000	$243	48
110 S 11th Ave S	0.55mi	2/1.0	630 (-7%)	22mo	$127,500	$202	45
311 N 8th Ave	0.64mi	2/1.0	768 (+13%)	19mo	$160,000	$208	32

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -18.8%
• Equity multiple: 0.34×
• Total profit: $-22,114
• Equity at exit: $17,892

10-year hold

• IRR: -11.2%
• Equity multiple: 0.33×
• Total profit: $-22,632
• Equity at exit: $10,375

Cash invested: $33,600 (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 46107

• Home prices YoY: -29.1%
• Active inventory: 75
• Price-to-rent: 9.9×

Monthly cashflow live

• Estimated rent: $1,010 medium
• Mortgage (P&I): −$629
• Tax from tax record: −$160 /mo · $1,926/yr
• Insurance: −$50
• HOA: −$0
• Vacancy / Maint / Mgmt: −$212
• Net cashflow: $-42

Break-even live

Break-even rent $1,063

Max offer price $112,538

Occupancy floor 99%

Sensitivity live

Price	-10% $26	-5% $-8	+0% $-42	+5% $-76	+10% $-110
Rent	-10% $-122	-5% $-82	+0% $-42	+5% $-2	+10% $38
Rate	-1.0pp $18	-0.5pp $-12	base $-42	+0.5pp $-73	+1.0pp $-105

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: $30,000
• Closing costs: $3,600
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
82 N 5th Ave Beech Grove, IN	1.0	1.0	500	$950	$1.90	9d	1	0.26mi
64 N 6th Ave Apt 2 Beech Grove, IN	1.0	1.0	550	$825	$1.50	14d	1	0.28mi
68 N 7th Ave #2 Beech Grove, IN	1.0	1.0	600	$825	$1.38	45d	1	0.33mi
120 N 9th Ave Beech Grove, IN	1.0	1.0	500	$850	$1.70	45d	1	0.48mi

Listing history 22 events

1. 2026-06-21
   days on market $120,000 Active 38 DOM
2. 2026-06-18
   days on market $120,000 Active 35 DOM
3. 2026-06-17
   days on market $120,000 Active 34 DOM
4. 2026-06-16
   days on market $120,000 Active 33 DOM
5. 2026-06-15
   days on market $120,000 Active 32 DOM
6. 2026-06-13
   days on market $120,000 Active 30 DOM
7. 2026-06-13
   days on market $120,000 Active 29 DOM
8. 2026-06-09
   days on market $120,000 Active 26 DOM
9. 2026-06-08
   days on market $120,000 Active 25 DOM
10. 2026-06-07
    days on market $120,000 Active 24 DOM
11. 2026-06-03
    days on market $120,000 Active 20 DOM
12. 2026-06-02
    days on market $120,000 Active 19 DOM
13. 2026-06-01
    days on market $120,000 Active 18 DOM
14. 2026-05-31
    days on market $120,000 Active 17 DOM
15. 2026-05-12
    listed $120,000 Active 519-char remark
16. 2017-06-02
    soldstatus $36,000 Sold 139-char remark

    Show marketing remark (139 chars)

    This home could be an excellent buy for either a family or investor. Home has been well maintained and at that price is will not last long.

17. 2017-05-10
    status Pending 139-char remark

    Show marketing remark (139 chars)

    This home could be an excellent buy for either a family or investor. Home has been well maintained and at that price is will not last long.

18. 2017-05-02
    listed $40,000 Active 139-char remark

    Show marketing remark (139 chars)

    This home could be an excellent buy for either a family or investor. Home has been well maintained and at that price is will not last long.

19. 2004-12-31
    historical
20. 2004-06-25
    listed $55,900
21. 2003-08-25
    historical
22. 2003-02-27
    listed $69,900

ⓘ 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: $1,926 · $160/mo
• Projected year-2 tax: $1,926 · $160/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 ≥102°F today · 19 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 0% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $12,115
• − Mortgage interest: −$6,722
• − Property taxes: −$1,926
• − Insurance: −$600
• − Repairs & maintenance: −$969
• − Management: −$969
• − Depreciation: −$3,491
• Taxable loss: −$2,562
• Est. tax savings @ 24.0%: +$615
• After-tax cash flow: $108/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: Beech Grove City Schools
• NCES district ID: 1800450
• Math proficiency: 17% ▼ -8.00%
• Reading proficiency: 29% ▼ -6.00%
• Median HH income: $38,775
• Composite: 19.28/100
• National rank: #8802
• State rank: #269 of 301 in IN

Livability — Beech Grove

• Score: 63/100
• State rank: #418
• US rank: #15174

Category grades

Amenities F Commute F Cost of living A+ Crime C+ Employment F Housing A+ Health & safety C- User ratings F

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Beech Grove, IN
• County: Marion County · 998,460 people
• City population: 13,020
• Metro: Indianapolis-Carmel-Anderson, IN
• Population (ZIP): 13,020
• Household income: $56,799
• Rent vs Own: 33.0% rent · 67.0% own
• Severe rent burden: 326.0

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 (88%)
• Race & ethnicity: White 88% Hispanic / Latino 6% Two or more races 4% Black 2%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Slovak 3% Romanian 2% Iranian 2%
• Foreign-born: 3% · Canada, Jamaica
• Languages at home: 97% English-only · Spanish 2% 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: ▼ -112.00%
• Current HPI: 272.2969
• Rent YoY: —
• 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

+71.7% since first listed

8 events — show timeline

• 2026-05-12 Listed $120,000 MIBOR as Distributed by MLS Grid
• 2017-06-02 Sold (MLS) $36,000 MIBOR as Distributed by MLS Grid
• 2017-05-10 Pending — MIBOR as Distributed by MLS Grid
• 2017-05-02 Listed $40,000 MIBOR as Distributed by MLS Grid
• 2004-12-31 Listing Removed — MIBOR as Distributed by MLS Grid
• 2004-06-25 Listed $55,900 MIBOR as Distributed by MLS Grid
• 2003-08-25 Listing Removed — MIBOR as Distributed by MLS Grid
• 2003-02-27 Listed $69,900 MIBOR as Distributed by MLS Grid

Property tax history

+5.5%/yr

Latest (2025): $1,926 · +11.1% YoY. Source: county tax records.