3251 Orchard Ave · Indianapolis city (balance), IN 46218

$100,000

3 bd · 2.0 ba · 1,068 sqft · SingleFamily public records · 4 Days on market

Built 1963 0.26 ac lot $94/sqft · 78% above area Est $150k · 34% 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 +29.0/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +9.5/10.0
• 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

Situated on a quiet 0.26-acre lot and just under 15 minutes from downtown, this property offers a rare combination of space, flexibility, and upside for the right buyer. Step inside the main level and you'll find 3 bedrooms, a full bathroom, and hardwood floors throughout - a solid foundation with great character already in place. Downstairs, the walkout full basement adds generous storage and is already plumbed for a bathroom and kitchenette, giving the next owner a real head start on additional finished living space. Beyond the main house, the property continues to impress. Out back sits a 720 sq. ft. in-law suite fully equipped with a kitchen, half bathroom, and all utilities connected -

Key facts

• In-law suite
• Fully fenced
• Large front yard

Tags

• FULL BASEMENT
• IN-LAW SUITE
• LARGE FRONT YARD
• LARGE BACK YARD
• FULLY FENCED

Property features AI

Finance

• Other: Approximately 0.26 acre lot (about 1/4–1/2 acre); Additional parcels included

Exterior

• Utilities: Community sewer; Private water source; Natural gas connected and available; Sewer connected; Water connected; Cable connected; Solid waste service available
• Home design: Single-family residence; One story; Crawl space foundation; Brick construction
• Construction: Brick exterior; Crawl space foundation
• Exterior features: Fire pit; Front yard fencing; Fenced front yard

Interior

• Kitchen: Gas cooktop; Gas oven; Microwave; Refrigerator
• Bedrooms: Three bedrooms on the main level
• Bathrooms: Two full bathrooms (one on main level, one in basement); Primary bath has tub with shower
• Heating & cooling: Forced air heating (natural gas); Window air conditioning units
• Interior features: Dining room with fireplace; Finished basement with exterior entry; Has view
• Laundry & utility: Laundry in basement with full connections; Gas water heater

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $100k.

Deal economics

• At list price, monthly cash flow is $287 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $100k).
• Cap rate 10.4% 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 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).
• At $1,447/mo this rent would consume 46% of the median local household income ($38k/yr) (locally 2340% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $691 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

• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: property tax is 2.8% of price; flood insurance adds $56/mo.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $100,000

Questions for the listing agent

1. Built in 1963 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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: 1.45% ✓
• Cap rate: 10.41%
• Cash-on-cash: 14.70%
• DSCR: 1.65
• GRM: 5.8

CMA / ARV

• ARV (median comp): $150,489
• List price: $100,000
• Delta: -33.55%
• 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
2931 Sangster Ave	0.39mi	3/1.0	1,064 (-0%)	6mo	$117,000	$110	72
3263 Schofield Ave	0.09mi	3/1.0	1,194 (+12%)	2mo	$73,600	$62	70
2848 Schofield Ave	0.51mi	3/1.0	1,102 (+3%)	2mo	$72,000	$65	66
2951 Hillside Ave	0.42mi	3/2.0	980 (-8%)	3mo	$156,000	$159	64
3135 Ralston Ave	0.25mi	2/2.0 (-1)	1,200 (+12%)	1mo	$177,500	$148	62
2753 Sangster Ave	0.61mi	3/1.0	1,088 (+2%)	3mo	$162,000	$149	62
2808 Sangster Ave	0.57mi	3/1.0	1,028 (-4%)	3mo	$100,000	$97	60
2929 Manlove Ave	0.41mi	3/1.0	960 (-10%)	2mo	$139,000	$145	58
3038 Baltimore Ave	0.27mi	2/1.0 (-1)	924 (-14%)	4mo	$98,500	$107	53
3515 N Keystone Ave	0.47mi	2/1.0 (-1)	1,200 (+12%)	8mo	$58,000	$48	42
3460 N Oxford St	0.72mi	3/1.0	1,176 (+10%)	6mo	$50,000	$43	41
2738 Schofield Ave	0.65mi	4/1.0 (+1)	1,205 (+13%)	2mo	$170,000	$141	38

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: -0.9%
• Equity multiple: 0.97×
• Total profit: $-893
• Equity at exit: $14,910

10-year hold

• IRR: 6.0%
• Equity multiple: 1.39×
• Total profit: $11,044
• Equity at exit: $8,646

Cash invested: $28,000 (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: 5.8×

Monthly cashflow live

• Estimated rent: $1,447 high
• Mortgage (P&I): −$524
• Tax from tax record: −$234 /mo · $2,808/yr
• Insurance: −$42
• Flood insurance flood zone: −$56 /mo · $666/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$304
• Net cashflow: $287

Break-even live

Break-even rent $1,083

Max offer price $100,000

Occupancy floor 75%

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: $25,000
• Closing costs: $3,000
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3363 Nicholas Ave Indianapolis, IN	2.0	1.0	720	$1,000	$1.39	4d	1	0.15mi
3121 Baltimore Ave Indianapolis, IN	3.0	1.0	1232	$7,865	$6.38	8d	1	0.24mi
1902 E 35th St Indianapolis, IN	3.0	1.0	1100	$1,600	$1.45	44d	1	0.29mi
3448 Hillside Ave Indianapolis, IN	4.0	1.0	1305	$1,800	$1.38	2d	1	0.32mi
3207 N Arsenal Ave Indianapolis, IN	3.0	1.0	994	$1,195	$1.20	24d	1	0.35mi
3532 Caroline Ave Indianapolis, IN	4.0	1.0	1177	$2,299	$1.95	44d	1	0.35mi
3132 Dr Andrew J Brown Ave Indianapolis, IN	2.0	1.0–2.0	791	$2,120	$2.68	2d	46	0.48mi
2820 Caroline Ave Indianapolis, IN	3.0	1.5	1112	$1,250	$1.12	24d	1	0.59mi
2931 N Tacoma Ave Unit 31 Indianapolis, IN	2.0	1.0	800	$950	$1.19	8d	1	0.61mi
3139 Guilford Ave Indianapolis, IN	3.0	1.0	1068	$1,345	$1.26	44d	1	0.64mi
3476 Birchwood Ave Indianapolis, IN	3.0	1.5	1420	$1,625	$1.14	24d	1	0.69mi
3110 Guilford Ave Indianapolis, IN	3.0	1.5	1250	$1,295	$1.04	24d	1	0.70mi
3203 Sutherland Ave Unit 1310761P Indianapolis, IN	2.0	1.0	1097	$3,668	$3.34	2d	1	0.70mi
3541 Birchwood Ave Indianapolis, IN	3.0	1.0	1400	$1,549	$1.11	12d	1	0.72mi
3741 N Tacoma Ave Indianapolis, IN	3.0	1.0	913	$2,200	$2.41	18d	1	0.74mi
2950 Winthrop Ave Indianapolis, IN	3.0	2.0	1224	$1,449	$1.18	44d	1	0.76mi
2757 Columbia Ave Unit 2757-B Indianapolis, IN	3.0	2.0	1350	$1,525	$1.13	44d	1	0.78mi
2616 Caroline Ave Indianapolis, IN	4.0	1.0	1276	$1,300	$1.02	44d	1	0.78mi
3535 N Oxford St Indianapolis, IN	3.0	1.0	1015	$1,500	$1.48	22d	1	0.79mi
3509 Guilford Ave Indianapolis, IN	3.0	1.5	1351	$1,445	$1.07	15d	1	0.79mi
916 Fairfield Ave Unit 918 Indianapolis, IN	3.0	1.0	1000	$1,300	$1.30	8d	1	0.81mi
728 E 34th St Indianapolis, IN	3.0	1.0	1491	$1,400	$0.94	4d	1	0.85mi
728 E 34th St Indianapolis, IN	3.0	1.0	1491	$1,400	$0.94	20d	1	0.85mi
2010 E 25th St Indianapolis, IN	2.0	1.0	792	$775	$0.98	24d	1	0.86mi
3472 N Dearborn St Indianapolis, IN	2.0	1.0	890	$1,099	$1.23	20d	1	0.88mi
3359 N College Ave Unit 3359 Indianapolis, IN	2.0	1.5	1082	$1,895	$1.75	24d	1	0.89mi
3359 N College Ave Indianapolis, IN	2.0	1.5	1450	$1,795	$1.24	11d	1	0.89mi
2553 Columbia Ave Unit 2553-B Indianapolis, IN	3.0	2.0	1350	$1,525	$1.13	44d	1	0.89mi
2549 Columbia Ave Unit 1332865P Indianapolis, IN	3.0	2.0	893	$2,274	$2.55	2d	1	0.90mi
3106 N College Ave Indianapolis, IN	3.0	1.5	1400	$1,700	$1.21	8d	1	0.95mi
2751 Guilford Ave Unit Aunit Indianapolis, IN	3.0	2.0	1250	$1,750	$1.40	44d	1	0.95mi
2751 Guilford Ave Unit B Indianapolis, IN	3.0	2.0	1250	$1,750	$1.40	14d	1	0.95mi
3365 Broadway St Indianapolis, IN	3.0	2.0	1300	$1,700	$1.31	44d	1	0.95mi
2920 N Lasalle St Indianapolis, IN	3.0	1.0	875	$1,095	$1.25	18d	1	1.01mi
2711 Guilford Ave Indianapolis, IN	3.0	2.0	1250	$1,695	$1.36	24d	1	1.01mi
2372 Beckwith Dr Indianapolis, IN	4.0	1.0–1.5	779	$1,206	$1.55	2d	32	1.02mi
2906 N Lasalle St Indianapolis, IN	4.0	1.0	1032	$950	$0.92	24d	1	1.02mi
3909 Winthrop Ave Unit B Indianapolis, IN	2.0	1.5	931	$1,550	$1.66	12d	1	1.02mi
3141 N Park Ave Indianapolis, IN	3.0	1.0	1390	$1,000	$0.72	44d	1	1.03mi
2830 Lasalle St Unit 28 Indianapolis, IN	2.0	1.0	1400	$1,100	$0.79	44d	1	1.07mi

Listing history 1 events

1. 2026-05-15
   listed $100,000 Active 1105-char remark

ⓘ 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: $2,808 · $234/mo
• Projected year-2 tax: $2,808 · $234/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 7/10 Severe FEMA zone X (unshaded) · 75% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥102°F today · 19 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% 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: $17,364
• − Mortgage interest: −$5,602
• − Property taxes: −$2,808
• − Insurance: −$1,166
• − Repairs & maintenance: −$1,389
• − Management: −$1,389
• − Depreciation: −$2,909
• Taxable income: $2,100
• Est. tax owed @ 24.0%: −$504
• After-tax cash flow: $2,946/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

2 events — show timeline

• 2026-05-19 Pending — MIBOR as Distributed by MLS Grid
• 2026-05-15 Listed $100,000 MIBOR as Distributed by MLS Grid

Property tax history

+10.0%/yr

Latest (2025): $2,808 · -26.5% YoY. Source: county tax records.