1449 Blaine Ave · Indianapolis city (balance), IN 46221

$69,900

3 bd · 1.0 ba · 1,060 sqft · SingleFamily public records · 5 Days on market

Built 1920 5,401 sqft lot

---

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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Rent growth +2.9/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.4/10.0
• Appreciation +0.0/10.0

Listing remarks

Charming 2-bedroom, 1-bath bungalow offering 1,060 sq. ft. of single-level living. Built in 1920, this home features vinyl windows, aluminum siding, and a functional layout with plenty of potential for the next owner. Soft flooring areas are present and visibly marked with caution tape-please use caution when entering and touring the property. Property is being sold AS-IS with no repairs or warranties. Buyers should rely on their own inspections and due diligence. Excellent opportunity for investors, renovators, or buyers looking to add their personal touch. Schedule your showing today!

Key facts

• 5,401 sq ft lot
• Built 1920
• Listed 4 days

Property features AI

Finance

• Other: Approximately 2,120 total building area with about 1,325 living area and finished lower-level space

Exterior

• Utilities: Public water; Municipal sewer connection; Solid waste service
• Home design: Single-family residence; One level
• Construction: Aluminum and vinyl siding; Block and brick/mortar foundation (full)
• Exterior features: Lot under 1/4 acre (approximately 0.12 acre)

Interior

• Kitchen: Electric oven
• Bedrooms: 2 bedrooms on the main level
• Bathrooms: 1 full bathroom on the main level
• Heating & cooling: Forced air heating (natural gas); No central air
• Interior features: Woodwork stained or painted; Basement (finished space present)
• Laundry & utility: Washer and dryer included

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $70k.

Deal economics

• At list price, monthly cash flow is $774 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $70k).
• Cap rate 19.6% 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 (+1.8%/yr); 43 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 1,906 units permitted in Marion County in 2024 (621 in 5+ unit buildings).
• This rent runs 31% of the median local income ($65k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $483 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 + 1.8% rent growth), your $20k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• Only 5 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: property tax is 2.9% of price; built in 1920 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $69,900

Questions for the listing agent

1. Built in 1920 — 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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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.
5. 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.
6. 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: 2.42% ✓
• Cap rate: 19.57%
• Cash-on-cash: 47.43%
• DSCR: 3.11
• GRM: 3.4

CMA / ARV

• ARV (on-the-fly): $149,460
• Comps found: 10

Show comp detail 10 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1801 W Morris St	0.38mi	3/1.5	1,056 (-0%)	12mo	$189,000	$179	70
1746 Lambert St	0.30mi	3/2.0	1,131 (+7%)	6mo	$134,000	$118	66
1445 S Belmont Ave	0.44mi	3/2.0	1,062 (+0%)	13mo	$130,000	$122	64
1546 Kappes St	0.37mi	2/1.0 (-1)	1,004 (-5%)	11mo	$164,000	$163	60
1260 S Reisner St SW	0.24mi	3/2.0	1,144 (+8%)	15mo	$134,000	$117	59
1367 S Sheffield Ave	0.52mi	3/1.0	1,090 (+3%)	19mo	$165,000	$151	55
2121 Howard St	0.51mi	3/1.0	1,080 (+2%)	23mo	$150,000	$139	54
1610 Howard St	0.11mi	3/1.0	1,207 (+14%)	22mo	$170,000	$141	54
2218 Howard St	0.56mi	2/1.5 (-1)	1,136 (+7%)	21mo	$75,000	$66	37
920 Arbor Ave	0.67mi	3/1.0	902 (-15%)	19mo	$140,000	$155	28

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 · 1.79% rent growth · sell at horizon

5-year hold

• IRR: 43.4%
• Equity multiple: 2.84×
• Total profit: $35,980
• Equity at exit: $10,422

10-year hold

• IRR: 48.9%
• Equity multiple: 5.44×
• Total profit: $86,922
• Equity at exit: $6,044

Cash invested: $19,572 (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 46221

• Home prices YoY: -23.7%
• Rents YoY: 1.8%
• Active inventory: 43
• Price-to-rent: 3.4×

Monthly cashflow live

• Estimated rent: $1,693 high
• Mortgage (P&I): −$367
• Tax from tax record: −$168 /mo · $2,016/yr
• Insurance: −$29
• HOA: −$0
• Vacancy / Maint / Mgmt: −$355
• Net cashflow: $774

Break-even live

Break-even rent $713

Max offer price $69,900

Occupancy floor 49%

Sensitivity live

Price	-10% $813	-5% $793	+0% $774	+5% $754	+10% $734
Rent	-10% $640	-5% $707	+0% $774	+5% $840	+10% $907
Rate	-1.0pp $809	-0.5pp $791	base $774	+0.5pp $755	+1.0pp $737

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: $17,475
• Closing costs: $2,097
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1339 W Lee St Indianapolis, IN	2.0	1.5	960	$975	$1.02	4d	1	0.25mi
1801 W Morris St Indianapolis, IN	3.0	1.5	1056	$1,795	$1.70	45d	1	0.40mi
1105 Blaine Ave Indianapolis, IN	1.0–2.0	1.0–2.5	1157	$1,795	$1.55	24d	1	0.48mi
2015 W Wilkins St Indianapolis, IN	3.0	1.0	1250	$1,895	$1.52	45d	1	0.63mi
2127 Haines Ave Indianapolis, IN	3.0	2.0	1250	$2,000	$1.60	2d	1	0.68mi
1909 S Pershing Ave Indianapolis, IN	3.0	1.5	728	$1,750	$2.40	4d	1	0.69mi
841 S Addison St Indianapolis, IN	2.0	1.0	750	$1,295	$1.73	45d	1	1.04mi
101 S Harding St Apt 307 Indianapolis, IN	2.0	2.0	970	$1,685	$1.74	4d	1	1.37mi

Listing history 4 events

1. 2026-06-21
   days on market $69,900 Active 5 DOM
2. 2026-06-18
   days on market $69,900 Active 2 DOM
3. 2026-06-17
   remarks 593-char remark
4. 2026-06-17
   listed $69,900 Active 1 DOM

ⓘ 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: $2,016 · $168/mo
• Projected year-2 tax: $2,016 · $168/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 100% 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: $20,312
• − Mortgage interest: −$3,915
• − Property taxes: −$2,016
• − Insurance: −$350
• − Repairs & maintenance: −$1,625
• − Management: −$1,625
• − Depreciation: −$2,033
• Taxable income: $8,748
• Est. tax owed @ 24.0%: −$2,100
• After-tax cash flow: $7,183/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): 27,027
• Household income: $65,280
• Rent vs Own: 38.2% rent · 61.8% own
• Severe rent burden: 1011.0

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% Black 13% Hispanic / Latino 13% Two or more races 7%
• Hispanic origin (detail): Mexican 7%
• Common ancestry: Italian 2% Iranian 2% Lithuanian 2%
• Foreign-born: 9% · Canada, China
• Languages at home: 87% English-only · Spanish 9% Arabic 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: ▼ -97.56%
• Current HPI: 313.4711
• Rent YoY: ▲ 1.79%
• 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

1 event — show timeline

• 2026-06-16 Listed $69,900 MIBOR as Distributed by MLS Grid

Property tax history

+8.4%/yr

Latest (2025): $2,016 · +13.2% YoY. Source: county tax records.