6174 Raleigh Dr · Indianapolis city (balance), IN 46219

$64,900

2 bd · 1.0 ba · 1,149 sqft · SingleFamily public records · 6 Days on market

Built 1948 7,187 sqft lot $56/sqft · 43% below area Est $115k · 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 +30.0/30.0
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• 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

This house has had a major fire and is being sold "as is'. Great opportunity for a fixer upper. This home sold in 2024 as a total renovation.All appliances are "as is" Cash only offers.

Key facts

• 7,187 sq ft lot
• Garage
• Built 1948

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $65k.

Deal economics

• At list price, monthly cash flow is $336 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $65k).
• Cap rate 12.5% 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 (+2.6%/yr); 140 active listings in the ZIP; 33 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 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 $449 of loan paydown is wiped out by about $2k 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 + 2.6% rent growth), your $18k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.
• 10 sale attempts since 19y 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.

Risks & watch-outs

• Watch-outs: built in 1948 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $64,900

Questions for the listing agent

1. Built in 1948 — 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: 1.58% ✓
• Cap rate: 12.51%
• Cash-on-cash: 22.19%
• DSCR: 1.99
• GRM: 5.3

CMA / ARV

• ARV (median comp): $114,596
• List price: $64,900
• Delta: -43.37%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 8 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
6174 Raleigh Dr	0.00mi	3/1.0 (+1)	1,149 (0%)	1mo	$50,000	$44	94
6231 E 25th St	0.10mi	3/2.0 (+1)	1,152 (+0%)	3mo	$150,000	$130	83
6120 E 24th St	0.14mi	3/1.0 (+1)	1,176 (+2%)	10mo	$80,000	$68	76
6250 E 25th St	0.14mi	3/1.0 (+1)	1,212 (+6%)	22mo	$131,500	$108	61
2225 N Arlington Ave	0.35mi	3/1.0 (+1)	1,220 (+6%)	19mo	$129,000	$106	52
5603 E 22nd St	0.70mi	2/1.0	1,016 (-12%)	2mo	$170,000	$167	47
2260 N Graham Ave	0.57mi	3/1.0 (+1)	1,280 (+11%)	10mo	$115,000	$90	41
2331 N Graham Ave	0.51mi	3/2.0 (+1)	1,248 (+9%)	23mo	$230,000	$184	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 · 2.63% rent growth · sell at horizon

5-year hold

• IRR: 14.5%
• Equity multiple: 1.58×
• Total profit: $10,541
• Equity at exit: $9,677

10-year hold

• IRR: 23.0%
• Equity multiple: 2.94×
• Total profit: $35,320
• Equity at exit: $5,611

Cash invested: $18,172 (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 46219

• Rents YoY: 2.6%
• Active inventory: 140
• Price-to-rent: 5.3×

Monthly cashflow live

• Estimated rent: $1,026 high
• Mortgage (P&I): −$340
• Tax from tax record: −$107 /mo · $1,285/yr
• Insurance: −$27
• HOA: −$0
• Vacancy / Maint / Mgmt: −$215
• Net cashflow: $336

Break-even live

Break-even rent $601

Max offer price $64,900

Occupancy floor 62%

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: $16,225
• Closing costs: $1,947
• Reserves months: —
• Total cash needed: —

Rent comps 33 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
6267 E 24th St Indianapolis, IN	3.0	1.0	981	$1,195	$1.22	1d	1	0.20mi
2226 N Kenyon St Indianapolis, IN	2.0	1.0	816	$850	$1.04	23d	1	0.31mi
6154 Commodore Dr Indianapolis, IN	2.0	1.0	900	$950	$1.06	23d	1	0.32mi
6136 Nimitz Dr Indianapolis, IN	2.0	1.0	864	$799	$0.92	20d	1	0.33mi
6120 Nimitz Dr Indianapolis, IN	2.0	1.0	864	$750	$0.87	43d	1	0.34mi
6149 Commodore Dr Indianapolis, IN	2.0	1.0	816	$850	$1.04	23d	1	0.35mi
5923 E 24th St Indianapolis, IN	2.0	1.0	816	$950	$1.16	17d	1	0.36mi
6119 Nimitz Dr Indianapolis, IN	3.0	1.0	816	$850	$1.04	23d	1	0.37mi
2419 N Bolton Ave Indianapolis, IN	2.0	1.0	768	$950	$1.24	7d	1	0.38mi
6046 E 21st St Indianapolis, IN	1.0–2.0	1.0	792	$865	$1.09	22d	11	0.39mi
2404 N Lesley Ave Indianapolis, IN	2.0	1.0	763	$850	$1.11	43d	1	0.63mi
2304 N Ritter Ave Apt 9 Indianapolis, IN	2.0	1.0	725	$799	$1.10	20d	1	0.80mi
2308 N Ritter Ave Apt 24 Indianapolis, IN	2.0	1.0	725	$825	$1.14	20d	1	0.80mi
2302 N Ritter Ave Indianapolis, IN	2.0	1.0	725	$788	$1.09	7d	2	0.82mi
2312 N Ritter Ave Apt 31 Indianapolis, IN	2.0	1.0	725	$825	$1.14	22d	1	0.84mi
2703 Kristen Dr E Indianapolis, IN	3.0	1.0	1155	$1,700	$1.47	43d	1	0.88mi
3070 N Layman Ave #1 Indianapolis, IN	3.0	2.0	1480	$1,700	$1.15	43d	1	0.97mi
1424 N Campbell Ave Unit 1424 Indianapolis, IN	1.0	1.0	750	$905	$1.21	23d	1	1.09mi
1424 N Campbell Ave Unit 1446 Indianapolis, IN	1.0	1.0	800	$920	$1.15	23d	1	1.09mi
5322 E 19th Pl Indianapolis, IN	2.0	1.0	720	$945	$1.31	43d	1	1.13mi
5242 E 20th Pl Indianapolis, IN	2.0	1.0	720	$1,050	$1.46	7d	1	1.15mi
1742 N Whittier Pl Indianapolis, IN	2.0	1.0	1440	$995	$0.69	10d	1	1.15mi
1702 N Ritter Ave Indianapolis, IN	2.0	1.0	750	$1,200	$1.60	4d	1	1.18mi
1366 N Arlington Ave Indianapolis, IN	2.0	1.0–1.5	885	$1,074	$1.21	3d	10	1.18mi
1213 Taylor Dr E Indianapolis, IN	2.0	1.0	853	$1,045	$1.23	14d	1	1.26mi
5130 E 21st St Indianapolis, IN	3.0	2.0	1188	$1,500	$1.26	23d	1	1.27mi
5130 E 21st St Indianapolis, IN	3.0	2.0	1188	$1,500	$1.26	43d	1	1.27mi
5119 E 21st St Indianapolis, IN	2.0	1.0	816	$1,199	$1.47	43d	1	1.29mi
3319 N Hawthorne Ln Indianapolis, IN	3.0	1.0	1084	$1,100	$1.01	23d	1	1.36mi
6214 Eastridge Dr Indianapolis, IN	2.0	1.0	798	$1,000	$1.25	43d	1	1.37mi
2194 N Riley Ave Indianapolis, IN	3.0	1.0	1100	$1,749	$1.59	43d	1	1.42mi
6203 E 11th St Indianapolis, IN	2.0	1.0	880	$1,025	$1.16	23d	1	1.43mi
3301 Mardenna Ave Indianapolis, IN	3.0	1.0	925	$1,200	$1.30	43d	1	1.48mi

Listing history 28 events

1. 2026-05-04
   status Pending 200-char remark

   Show marketing remark (200 chars)

   This house has had a major fire and is being sold "as is'. Great opportunity for a fixer upper. This home sold in 2024 as a total renovation.All appliances are "as is" Cash only offers.

2. 2026-05-01
   status Active 200-char remark

   Show marketing remark (200 chars)

   This house has had a major fire and is being sold "as is'. Great opportunity for a fixer upper. This home sold in 2024 as a total renovation.All appliances are "as is" Cash only offers.

3. 2026-04-02
   status Pending 200-char remark

   Show marketing remark (200 chars)

   This house has had a major fire and is being sold "as is'. Great opportunity for a fixer upper. This home sold in 2024 as a total renovation.All appliances are "as is" Cash only offers.

4. 2026-04-02
   status Active 200-char remark

   Show marketing remark (200 chars)

   This house has had a major fire and is being sold "as is'. Great opportunity for a fixer upper. This home sold in 2024 as a total renovation.All appliances are "as is" Cash only offers.

5. 2026-03-31
   status Pending 200-char remark

   Show marketing remark (200 chars)

   This house has had a major fire and is being sold "as is'. Great opportunity for a fixer upper. This home sold in 2024 as a total renovation.All appliances are "as is" Cash only offers.

6. 2026-03-29
   listed $64,900 Active 200-char remark

   Show marketing remark (200 chars)

   This house has had a major fire and is being sold "as is'. Great opportunity for a fixer upper. This home sold in 2024 as a total renovation.All appliances are "as is" Cash only offers.

7. 2024-11-15
   soldstatus $154,900 Closed 669-char remark

   Show marketing remark (669 chars)

   Welcome to your new home at 6174 Raleigh Drive in the heart of Indianapolis! This cozy 3-bedroom, 1-bathroom house has all the modern touches you'll love. Inside, you'll find fresh new carpet and a beautifully remodeled bathroom. The kitchen comes ready with an electric oven and refrigerator, making meal prep a breeze. Stay comfy year-round with central AC and forced air heating. Plus, there's plenty of space with a driveway and garage for your parking needs. A brand-new furnace was installed in June, so you're all set for efficient heating. This place is perfect for anyone looking for a relaxed and inviting spot to call home. Don't miss out on making it yours!

8. 2024-11-12
   status Pending 669-char remark

   Show marketing remark (669 chars)

   Welcome to your new home at 6174 Raleigh Drive in the heart of Indianapolis! This cozy 3-bedroom, 1-bathroom house has all the modern touches you'll love. Inside, you'll find fresh new carpet and a beautifully remodeled bathroom. The kitchen comes ready with an electric oven and refrigerator, making meal prep a breeze. Stay comfy year-round with central AC and forced air heating. Plus, there's plenty of space with a driveway and garage for your parking needs. A brand-new furnace was installed in June, so you're all set for efficient heating. This place is perfect for anyone looking for a relaxed and inviting spot to call home. Don't miss out on making it yours!

9. 2024-10-18
   listed $154,900 Active 669-char remark

   Show marketing remark (669 chars)

   Welcome to your new home at 6174 Raleigh Drive in the heart of Indianapolis! This cozy 3-bedroom, 1-bathroom house has all the modern touches you'll love. Inside, you'll find fresh new carpet and a beautifully remodeled bathroom. The kitchen comes ready with an electric oven and refrigerator, making meal prep a breeze. Stay comfy year-round with central AC and forced air heating. Plus, there's plenty of space with a driveway and garage for your parking needs. A brand-new furnace was installed in June, so you're all set for efficient heating. This place is perfect for anyone looking for a relaxed and inviting spot to call home. Don't miss out on making it yours!

10. 2022-05-22
    price $1,050
11. 2021-05-05
    soldstatus $68,750 Closed
12. 2021-04-20
    status Pending
13. 2021-04-16
    listed $80,000 Active
14. 2019-07-31
    soldstatus $45,000 Sold
15. 2019-07-02
    listed $51,500 Active
16. 2019-07-02
    status Pending
17. 2018-09-13
    soldstatus $34,000 Sold
18. 2018-08-13
    status Pending
19. 2018-08-07
    price $40,900
20. 2018-06-08
    price $41,900
21. 2018-06-01
    listed $45,900 Active
22. 2010-03-18
    historical
23. 2010-03-18
    soldstatus $18,100
24. 2010-01-04
    listed $19,900
25. 2008-03-19
    soldstatus $70,000
26. 2007-08-23
    listed $80,000
27. 2007-07-06
    soldstatus $25,000
28. 2007-04-20
    listed $28,000

ⓘ 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: $1,285 · $107/mo
• Projected year-2 tax: $1,285 · $107/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 · 17 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: $12,313
• − Mortgage interest: −$3,635
• − Property taxes: −$1,285
• − Insurance: −$324
• − Repairs & maintenance: −$985
• − Management: −$985
• − Depreciation: −$1,888
• Taxable income: $3,210
• Est. tax owed @ 24.0%: −$770
• After-tax cash flow: $3,263/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): 38,855
• Household income: $60,803
• Rent vs Own: 41.0% rent · 59.0% own
• Severe rent burden: 2191.0

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 0.63)
• Race & ethnicity: White 54% Black 22% Hispanic / Latino 18% Two or more races 9%
• Hispanic origin (detail): Mexican 10% Puerto Rican 1%
• Common ancestry: Slovak 2% Romanian 2% Lithuanian 2%
• Foreign-born: 10% · Canada
• Languages at home: 85% English-only · Spanish 14%

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: ▼ -199.69%
• Current HPI: 289.8788
• Rent YoY: ▲ 2.63%
• 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

+131.8% since first listed

28 events — show timeline

• 2026-05-04 Pending — MIBOR as Distributed by MLS Grid
• 2026-05-01 Relisted — MIBOR as Distributed by MLS Grid
• 2026-04-02 Pending — MIBOR as Distributed by MLS Grid
• 2026-04-02 Relisted — MIBOR as Distributed by MLS Grid
• 2026-03-31 Pending — MIBOR as Distributed by MLS Grid
• 2026-03-29 Listed $64,900 MIBOR as Distributed by MLS Grid
• 2024-11-15 Sold (MLS) $154,900 MIBOR as Distributed by MLS Grid
• 2024-11-12 Pending — MIBOR as Distributed by MLS Grid
• 2024-10-18 Listed $154,900 MIBOR as Distributed by MLS Grid
• 2022-05-22 Price Changed $1,050 RENT.
• 2021-05-05 Sold (MLS) $68,750 MIBOR as Distributed by MLS Grid
• 2021-04-20 Pending — MIBOR as Distributed by MLS Grid
• 2021-04-16 Listed $80,000 MIBOR as Distributed by MLS Grid
• 2019-07-31 Sold (MLS) $45,000 MIBOR as Distributed by MLS Grid
• 2019-07-02 Listed $51,500 MIBOR as Distributed by MLS Grid
• 2019-07-02 Pending — MIBOR as Distributed by MLS Grid
• 2018-09-13 Sold (MLS) $34,000 MIBOR as Distributed by MLS Grid
• 2018-08-13 Pending — MIBOR as Distributed by MLS Grid
• 2018-08-07 Price Changed $40,900 MIBOR as Distributed by MLS Grid
• 2018-06-08 Price Changed $41,900 MIBOR as Distributed by MLS Grid
• 2018-06-01 Listed $45,900 MIBOR as Distributed by MLS Grid
• 2010-03-18 Listing Removed — MIBOR as Distributed by MLS Grid
• 2010-03-18 Sold (MLS) $18,100 MIBOR as Distributed by MLS Grid
• 2010-01-04 Listed $19,900 MIBOR as Distributed by MLS Grid
• 2008-03-19 Sold (MLS) $70,000 MIBOR as Distributed by MLS Grid
• 2007-08-23 Listed $80,000 MIBOR as Distributed by MLS Grid
• 2007-07-06 Sold (MLS) $25,000 MIBOR as Distributed by MLS Grid
• 2007-04-20 Listed $28,000 MIBOR as Distributed by MLS Grid

Property tax history

+1.1%/yr

Latest (2025): $1,285 · +166.2% YoY. Source: county tax records.