1147 S Chester Ave · Indianapolis city (balance), IN 46203

$150,000

3 bd · 1.0 ba · 1,032 sqft · SingleFamily public records · 101 Days on market

Built 1963 8,668 sqft lot $145/sqft · at area comps Est $154k · at est.

---

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).

• Cash flow +15.5/30.0
• ARV discount +8.7/15.0
• DSCR +4.8/10.0
• 1% rule +4.5/10.0
• 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

Perfectly positioned between the trendy energy of Fountain Square and the historic charm of Irvington! This 3-bedroom home is a rare find for those looking to build instant value. The heavy lifting is already done with a newer HVAC (1.5 yrs), all-new plumbing (2025), and updated front faux-stone siding. Inside, the kitchen shines with granite countertops, while the original hardwood floors are just waiting for a simple refinish to truly sparkle and maximize your ROI! The exterior is a true urban oasis, featuring a massive, level, and fully chain-link fenced backyard. Don't miss the versatile 1-car garage, the cool flex space you've been looking for to create a home gym, game room, or creative studio. Located on a quiet, wide street in a historic district, you are just minutes from downtown hospitals, major employers like Eli Lilly, local splash pads, and top-rated dining. Whether you are looking for your own home, a high-yield rental (tenants can stay or go!), or a quick-equity flip, this move-in-ready property is a strategic win in a high-demand area.

Key facts

• Flex space
• 1-car garage
• Quiet wide street

Tags

• NEWER HVAC
• ALL-NEW PLUMBING
• ORIGINAL HARDWOOD FLOORS
• 1-CAR GARAGE
• FLEX SPACE
• QUIET WIDE STREET

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $150k.

Deal economics

• At list price, monthly cash flow is $61 ($735/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $143k (4.9% below list).
• Recommended offer: $136k (9.0% below list) — sets the bar for market timing.
• Cap rate 6.8% 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 D — 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.
• Zoned schools: Frederick Douglass School 19 (math 9% / reading 13%, grade F, #909 of 994 statewide, top 92%, 444 students, 81% FRL); H L Harshman Middle School (math 3% / reading 16%, grade F, #316 of 330 statewide, top 96%, 549 students, 84% FRL).
• Market conditions: Rents rising (+2.9%/yr); 500 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 26d on market — plan ~3-4 weeks tenant-placement turnaround); 40% 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 $1k 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 101 days — a 9% lower offer ($136k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $62k; list at $150k implies a 142% gain — meaningful room to come down on a strong offer.

Recommended offer $136,500 (9.0% below list)

Questions for the listing agent

1. It's been on market 101 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 1963 — 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. 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?
6. 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.
7. 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.
8. 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: 0.95% ✗
• Cap rate: 6.78%
• Cash-on-cash: 1.75%
• DSCR: 1.08
• GRM: 8.8

CMA / ARV

• ARV (median comp): $154,204
• List price: $150,000
• Delta: -2.73%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1214 S Grant Ave	0.09mi	3/1.0	971 (-6%)	1mo	$215,000	$221	85
1159 S Bradley Ave	0.13mi	3/1.0	936 (-9%)	1mo	$86,000	$92	78
4514 Rowney St	0.40mi	3/1.0	1,043 (+1%)	3mo	$185,000	$177	77
1423 S Grant Ave	0.22mi	3/1.0	1,104 (+7%)	3mo	$159,900	$145	76
4307 Terrace Ave	0.26mi	3/1.0	936 (-9%)	3mo	$150,000	$160	70
3710 Hoyt Ave	0.50mi	3/1.0	960 (-7%)	1mo	$121,000	$126	64
3545 Orange St	0.36mi	4/2.0 (+1)	1,104 (+7%)	1mo	$122,000	$111	62
1400 Temperance Ave	0.33mi	3/1.0	1,176 (+14%)	1mo	$190,000	$162	60
4425 Hoyt Ave	0.51mi	3/1.0	1,128 (+9%)	2mo	$160,000	$142	59
1141 Madeira St	0.51mi	3/2.0	1,104 (+7%)	4mo	$135,000	$122	58
4624 Terrace Ave	0.45mi	2/2.0 (-1)	1,130 (+10%)	2mo	$108,990	$96	53
3847 Hoyt Ave	0.42mi	2/1.0 (-1)	912 (-12%)	6mo	$75,000	$82	51

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: -13.6%
• Equity multiple: 0.51×
• Total profit: $-20,540
• Equity at exit: $22,365

10-year hold

• IRR: -4.9%
• Equity multiple: 0.68×
• Total profit: $-13,408
• Equity at exit: $12,969

Cash invested: $42,000 (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 46203

• Home prices YoY: -26.7%
• Rents YoY: 2.9%
• Active inventory: 500
• Price-to-rent: 8.8×

Monthly cashflow live

• Estimated rent: $1,427 high
• Mortgage (P&I): −$787
• Tax from tax record: −$217 /mo · $2,604/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$300
• Net cashflow: $61

Break-even live

Break-even rent $1,350

Max offer price $150,000

Occupancy floor 91%

Sensitivity live

Price	-10% $146	-5% $104	+0% $61	+5% $19	+10% $-24
Rent	-10% $-52	-5% $5	+0% $61	+5% $118	+10% $174
Rate	-1.0pp $137	-0.5pp $99	base $61	+0.5pp $22	+1.0pp $-17

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: $37,500
• Closing costs: $4,500
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3518 Terrace Ave Indianapolis, IN	3.0	1.0	864	$1,300	$1.50	45d	1	0.44mi
3906 Hoyt Ave Indianapolis, IN	2.0	1.0	912	$1,250	$1.37	9d	1	0.46mi
739 Temperance Ave Indianapolis, IN	3.0	1.0	1136	$1,350	$1.19	45d	1	0.52mi
3706 Hoyt Ave Indianapolis, IN	3.0	1.0	960	$1,500	$1.56	15d	1	0.53mi
3702 Hoyt Ave Indianapolis, IN	3.0	2.0	960	$1,500	$1.56	15d	1	0.53mi
3441 Prospect St Indianapolis, IN	2.0	1.0	1008	$1,500	$1.49	25d	1	0.57mi
3441 Prospect St Indianapolis, IN	2.0	1.0	1008	$1,700	$1.69	46d	1	0.57mi
4318 Spann Ave Indianapolis, IN	3.0	1.0	1411	$1,200	$0.85	45d	1	0.62mi
750 S Dequincy St Indianapolis, IN	3.0	1.5	936	$1,500	$1.60	45d	1	0.71mi
528 S Bosart Ave Indianapolis, IN	3.0	1.0	720	$1,305	$1.81	45d	1	0.75mi
5015 Reeder St Indianapolis, IN	3.0	2.0	1482	$1,950	$1.32	45d	1	0.77mi
3012 E Minnesota St Indianapolis, IN	2.0	1.0	767	$1,000	$1.30	25d	1	0.85mi
3012 E Minnesota St Indianapolis, IN	2.0	1.0	875	$1,000	$1.14	45d	1	0.85mi
1730 Perkins Ave Indianapolis, IN	3.0	1.0	924	$1,300	$1.41	25d	1	0.87mi
5056 Emerton Pl Unit 5046 Indianapolis, IN	2.0	1.5	1039	$1,245	$1.20	25d	1	0.94mi
5056 Emerton Pl Unit 5056 Indianapolis, IN	2.0	1.0	868	$1,245	$1.43	25d	1	0.94mi
5010 Emerton Pl Indianapolis, IN	2.0	1.5	1002	$1,095	$1.09	45d	1	0.98mi
1505 S Rural St Indianapolis, IN	3.0	1.0	1104	$1,500	$1.36	14d	1	1.00mi
340 S Dearborn St Indianapolis, IN	2.0	1.0	873	$1,180	$1.35	25d	1	1.03mi
301 S Gray St Indianapolis, IN	2.0	1.0	841	$1,025	$1.22	25d	1	1.11mi
4919 Orion Ave Indianapolis, IN	2.0	1.0	766	$875	$1.14	45d	1	1.13mi
253 S Gray St Indianapolis, IN	3.0	1.5	1176	$1,660	$1.41	3d	1	1.14mi
4931 Orion Ave Indianapolis, IN	2.0	1.0	1200	$1,450	$1.21	25d	1	1.14mi
350 S Oxford St Indianapolis, IN	3.0	1.0	826	$1,300	$1.57	45d	1	1.19mi
5131 E Burgess Ave Indianapolis, IN	2.0	1.0	816	$1,100	$1.35	0d	1	1.20mi
5131 E Burgess Ave Indianapolis, IN	2.0	1.0	816	$1,100	$1.35	45d	1	1.20mi
2631 Southeastern Ave Indianapolis, IN	3.0	2.0	1072	$1,195	$1.11	13d	1	1.22mi
8 S Bradley Ave Indianapolis, IN	2.0	1.0	1300	$950	$0.73	25d	1	1.25mi
330 S Rural St Indianapolis, IN	2.0	1.0	960	$1,050	$1.09	9d	1	1.25mi
323 S Rural St Indianapolis, IN	3.0	1.5	1090	$1,050	$0.96	45d	1	1.25mi
37 S Tuxedo St Indianapolis, IN	3.0	1.0	950	$1,150	$1.21	45d	1	1.28mi
4114 E Washington St Indianapolis, IN	2.0	1.0	909	$1,100	$1.21	46d	1	1.30mi
4214 E Washington St Indianapolis, IN	3.0	2.0	961	$1,145	$1.19	0d	1	1.30mi
4214 E Washington St Indianapolis, IN	3.0	2.0	961	$1,195	$1.24	9d	1	1.30mi
909 Saint Peter St Indianapolis, IN	3.0	2.0	1200	$1,800	$1.50	45d	1	1.32mi
33 N Sherman Dr Unit 33 Indianapolis, IN	3.0	1.5	1288	$1,500	$1.16	9d	1	1.34mi
28 S Dearborn St Unit A Indianapolis, IN	3.0	1.0	1100	$1,400	$1.27	12d	1	1.35mi
28 S Dearborn St Unit B Indianapolis, IN	2.0	1.5	1166	$1,150	$0.99	25d	1	1.35mi
453 S Keystone Ave Indianapolis, IN	2.0	1.5	950	$1,150	$1.21	0d	1	1.38mi
1123 Churchman Ave Indianapolis, IN	3.0	1.5	1472	$1,360	$0.92	15d	1	1.39mi

Listing history 17 events

1. 2026-06-21
   days on market $150,000 Active 101 DOM
2. 2026-06-18
   days on market $150,000 Active 98 DOM
3. 2026-06-17
   days on market $150,000 Active 97 DOM
4. 2026-06-16
   days on market $150,000 Active 96 DOM
5. 2026-06-15
   days on market $150,000 Active 95 DOM
6. 2026-06-13
   days on market $150,000 Active 93 DOM
7. 2026-06-13
   days on market $150,000 Active 92 DOM
8. 2026-06-09
   days on market $150,000 Active 89 DOM
9. 2026-06-08
   days on market $150,000 Active 88 DOM
10. 2026-06-07
    days on market $150,000 Active 87 DOM
11. 2026-06-03
    days on market $150,000 Active 83 DOM
12. 2026-06-02
    days on market $150,000 Active 82 DOM
13. 2026-06-01
    days on market $150,000 Active 81 DOM
14. 2026-05-31
    days on market $150,000 Active 80 DOM
15. 2026-04-16
    price $150,000 1068-char remark

    Show marketing remark (1068 chars)

    Perfectly positioned between the trendy energy of Fountain Square and the historic charm of Irvington! This 3-bedroom home is a rare find for those looking to build instant value. The heavy lifting is already done with a newer HVAC (1.5 yrs), all-new plumbing (2025), and updated front faux-stone siding. Inside, the kitchen shines with granite countertops, while the original hardwood floors are just waiting for a simple refinish to truly sparkle and maximize your ROI! The exterior is a true urban oasis, featuring a massive, level, and fully chain-link fenced backyard. Don't miss the versatile 1-car garage, the cool flex space you've been looking for to create a home gym, game room, or creative studio. Located on a quiet, wide street in a historic district, you are just minutes from downtown hospitals, major employers like Eli Lilly, local splash pads, and top-rated dining. Whether you are looking for your own home, a high-yield rental (tenants can stay or go!), or a quick-equity flip, this move-in-ready property is a strategic win in a high-demand area.

16. 2026-03-12
    listed $158,900 Active 1068-char remark

    Show marketing remark (1068 chars)

    Perfectly positioned between the trendy energy of Fountain Square and the historic charm of Irvington! This 3-bedroom home is a rare find for those looking to build instant value. The heavy lifting is already done with a newer HVAC (1.5 yrs), all-new plumbing (2025), and updated front faux-stone siding. Inside, the kitchen shines with granite countertops, while the original hardwood floors are just waiting for a simple refinish to truly sparkle and maximize your ROI! The exterior is a true urban oasis, featuring a massive, level, and fully chain-link fenced backyard. Don't miss the versatile 1-car garage, the cool flex space you've been looking for to create a home gym, game room, or creative studio. Located on a quiet, wide street in a historic district, you are just minutes from downtown hospitals, major employers like Eli Lilly, local splash pads, and top-rated dining. Whether you are looking for your own home, a high-yield rental (tenants can stay or go!), or a quick-equity flip, this move-in-ready property is a strategic win in a high-demand area.

17. 2019-05-28
    soldstatus $61,900

ⓘ 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: $2,604 · $217/mo
• Projected year-2 tax: $2,604 · $217/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 ≥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: $17,124
• − Mortgage interest: −$8,402
• − Property taxes: −$2,604
• − Insurance: −$750
• − Repairs & maintenance: −$1,370
• − Management: −$1,370
• − Depreciation: −$4,364
• Taxable loss: −$1,736
• Est. tax savings @ 24.0%: +$417
• After-tax cash flow: $1,151/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

+142.3% since first listed

3 events — show timeline

• 2026-04-16 Price Changed $150,000 MIBOR as Distributed by MLS Grid
• 2026-03-12 Listed $158,900 MIBOR as Distributed by MLS Grid
• 2019-05-28 Sold (Public Records) $61,900 Public Records

Property tax history

+17.9%/yr

Latest (2025): $2,604 · +14.8% YoY. Source: county tax records.