50 N Hamilton Ave · Indianapolis city (balance), IN 46201

$450,000

2 bd · 99.0 ba · 1,565 sqft · MultiFamily public records · 18 Days on market

Built 1985 5,184 sqft lot Est $310k · 45% over

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Why this score? — see what drove the C+ 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
• Rent growth +4.3/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.4/10.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 10 units. estimate disagrees with records

Listing remarks

Unique multifamily opportunity currently configured as 10 residential units, including 8 studio units and 2 one-bedroom units. All units are vacant, providing flexibility for a new owner's leasing and management plans. Recent improvements reportedly include new flooring and paint throughout, updated kitchen cabinets and countertops in select units, new interior and exterior doors, new windows, mini-split HVAC systems, water heater, plumbing fixtures, bathroom mirrors, and PEX plumbing. Property offers approximately 3,110 square feet above grade, plus basement areas. Buyer to independently verify square footage, unit count, zoning, permitted uses, room dimensions, and all information materia

Key facts

• Residential units
• New flooring
• New interior doors

Tags

• MULTIFAMILY OPPORTUNITY
• RESIDENTIAL UNITS
• NEW FLOORING
• UPDATED KITCHEN CABINETS
• NEW INTERIOR DOORS
• NEW WINDOWS

Property features AI

Finance

• Other: Zoning: D5
• Financial info: Multi-unit property with 10 total units; Reported gross income: 0; Reported expenses: 0; Example unit rent shown: $890 monthly for a 1-level unit

Exterior

• Parking: Unpaved parking
• Utilities: No solid waste service indicated
• Home design: Residential income property; Duplex; Two levels; Conversion
• Construction: Lot approximately 0.12 acre
• Exterior features: Residential use; Access road

Interior

• Kitchen: Kitchen present in unit type (unit kitchens listed)
• Bedrooms: Unit types include one-level units
• Interior features: Has basement; Converted property

What this means for you Summary

Snapshot

• This is a 10 × 1-bed/1-bath units multifamily listed at $450k.

Deal economics

• At list price, monthly cash flow is $5k ($55k/yr) — positive. Per door: $459/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($10k rent vs $450k).
• Recommended offer: $443k (1.5% below list) — sets the bar for market timing.
• Cap rate 18.5% 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 C — 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 fast (+7.3%/yr); 480 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 58% 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).
• At $9,843/mo this rent would consume 240% of the median local household income ($49k/yr) (locally 1906% 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 $3k of loan paydown is wiped out by about $14k 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 + 7.3% rent growth), your $126k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 18 days — a 2% lower offer ($443k) is reasonable based on typical stale-listing flexibility.
• 9 sale attempts since 24y 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 $305k; 48% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Recommended offer $443,250 (1.5% below list)

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 2.19% ✓
• Cap rate: 18.53%
• Cash-on-cash: 43.72%
• DSCR: 2.95
• GRM: 3.8

CMA / ARV

• ARV (on-the-fly): $309,870
• Comps found: 4

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
826 N Beville Ave	0.67mi	3/1.0 (+1)	1,472 (-6%)	1mo	$236,000	$160	38
1920 E Washington St	0.15mi	3/2.0 (+1)	1,350 (-14%)	15mo	$267,500	$198	37
771-773 Woodruff Place East Dr	0.60mi	2/2.0	1,556 (-1%)	17mo	$375,000	$241	37
245 S Rural St	0.64mi	1/2.0 (-1)	1,400 (-10%)	14mo	$110,000	$79	22

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 · 7.31% rent growth · sell at horizon

5-year hold

• IRR: 45.5%
• Equity multiple: 3.10×
• Total profit: $264,160
• Equity at exit: $67,096

10-year hold

• IRR: 53.3%
• Equity multiple: 7.41×
• Total profit: $807,037
• Equity at exit: $38,908

Cash invested: $126,000 (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 46201

• Home prices YoY: -33.9%
• Rents YoY: 7.3%
• Active inventory: 480
• Price-to-rent: 38.1×

Monthly cashflow live

• Estimated rent: $9,843 high
• Mortgage (P&I): −$2,360
• Tax from tax record: −$638 /mo · $7,662/yr
• Insurance: −$188
• HOA: −$0
• Vacancy / Maint / Mgmt: −$2,067
• Net cashflow: $4,590

Break-even live

Break-even rent $4,033

Max offer price $450,000

Occupancy floor 48%

10-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 10× units	1	1	$9,840
Total (10 units)			$9,843

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: $112,500
• Closing costs: $13,500
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
22 Hendricks Pl Unit 22 Indianapolis, IN	3.0	1.5	1730	$1,600	$0.92	17d	1	0.07mi
17 E Parkview Ave Unit 17 Indianapolis, IN	3.0	1.5	1530	$1,650	$1.08	43d	1	0.08mi
17 E Parkview Ave Unit 19 Indianapolis, IN	3.0	1.0	1530	$1,650	$1.08	43d	1	0.08mi
44 E Parkview Ave Unit A Indianapolis, IN	3.0	2.0	1296	$1,695	$1.31	23d	1	0.09mi
44 E Parkview Ave Unit B Indianapolis, IN	3.0	2.0	1297	$1,695	$1.31	43d	1	0.09mi
44 Parkview Ave Indianapolis, IN	3.0	2.0	1250	$1,695	$1.36	20d	1	0.09mi
22 Parkview Ave Indianapolis, IN	3.0	1.5	1728	$1,450	$0.84	7d	1	0.10mi
43 N Randolph St Indianapolis, IN	3.0	2.0	1250	$1,399	$1.12	43d	1	0.12mi
17 N Randolph St Indianapolis, IN	3.0	2.0	1822	$2,075	$1.14	4d	1	0.13mi
12 N Randolph St Indianapolis, IN	3.0	1.0	1485	$1,650	$1.11	43d	1	0.15mi
41 Keystone Ave Indianapolis, IN	3.0	2.5	1600	$2,500	$1.56	43d	1	0.24mi
43 Keystone Ave Indianapolis, IN	3.0	2.5	1600	$2,291	$1.43	16d	1	0.24mi
47 Keystone Ave Indianapolis, IN	3.0	2.5	1600	$2,500	$1.56	43d	1	0.24mi
303 N State Ave Indianapolis, IN	3.0	1.0	1700	$1,275	$0.75	23d	1	0.26mi
416 N Hamilton Ave Unit 416-A Indianapolis, IN	3.0	2.0	1350	$1,500	$1.11	43d	1	0.29mi
1541 E Ohio St Indianapolis, IN	3.0	1.0	1400	$1,399	$1.00	43d	1	0.32mi
1534 E Ohio St Indianapolis, IN	3.0	2.5	1204	$1,650	$1.37	16d	1	0.33mi
224 N Tacoma Ave Unit B TACOMA Indianapolis, IN	1.0	1.0	1200	$799	$0.67	7d	1	0.33mi
228 N Tacoma Ave Indianapolis, IN	3.0	1.0	1200	$1,100	$0.92	10d	1	0.33mi
1529 E Ohio St Indianapolis, IN	2.0	1.0	1118	$1,299	$1.16	43d	1	0.34mi
39 N Tacoma Ave Indianapolis, IN	3.0	1.0	1233	$895	$0.73	43d	1	0.34mi
2015 E Maryland St Indianapolis, IN	3.0	2.0	1250	$1,495	$1.20	43d	1	0.35mi
151 Harlan St Unit A Indianapolis, IN	3.0	2.0	1250	$1,549	$1.24	23d	1	0.37mi
117 N Arsenal Ave Indianapolis, IN	3.0	2.0	1250	$1,800	$1.44	4d	1	0.38mi
115 N Arsenal Ave Indianapolis, IN	3.0	2.0	1297	$1,800	$1.39	43d	1	0.38mi
119 N Arsenal Ave Indianapolis, IN	3.0	2.0	1250	$1,800	$1.44	22d	1	0.38mi
119 N Arsenal Ave Unit 119 Indianapolis, IN	3.0	2.0	1250	$1,800	$1.44	43d	1	0.38mi
117 N Arsenal Ave Unit 117 Indianapolis, IN	3.0	2.0	1250	$1,800	$1.44	43d	1	0.38mi
101 N Arsenal Ave Indianapolis, IN	3.0	2.0	1300	$1,749	$1.35	43d	1	0.39mi
1531 Sturm Ave Indianapolis, IN	3.0	2.0	1806	$1,515	$0.84	23d	1	0.43mi
1529 Sturm Ave Indianapolis, IN	3.0	2.0	1806	$1,515	$0.84	23d	1	0.43mi
1430 E Ohio St Indianapolis, IN	3.0	1.5	2174	$1,745	$0.80	43d	1	0.44mi
2015 Southeastern Ave Unit 2015 Indianapolis, IN	2.0	2.5	1350	$2,200	$1.63	23d	1	0.44mi
113 S Arsenal Ave Indianapolis, IN	3.0	2.0	1296	$1,800	$1.39	43d	1	0.45mi
238 Eastern Ave Indianapolis, IN	3.0	2.0	1850	$1,900	$1.03	23d	1	0.46mi
409 N Temple Ave Indianapolis, IN	3.0	2.0	2106	$1,650	$0.78	43d	1	0.49mi
420 Eastern Ave Indianapolis, IN	3.0	1.0	1900	$1,325	$0.70	43d	1	0.53mi
241 S Temple Ave Indianapolis, IN	3.0	2.0	1200	$1,350	$1.12	43d	1	0.54mi
1404 E Vermont St Indianapolis, IN	2.0	2.5	1353	$1,950	$1.44	43d	1	0.55mi
145 McKim Ave Indianapolis, IN	3.0	2.5	1470	$2,195	$1.49	44d	1	0.56mi

Listing history 13 events

1. 2026-06-18
   days on market $450,000 Active 18 DOM
2. 2026-06-17
   days on market $450,000 Active 17 DOM
3. 2026-06-16
   days on market $450,000 Active 16 DOM
4. 2026-06-15
   days on market $450,000 Active 15 DOM
5. 2026-06-13
   days on market $450,000 Active 13 DOM
6. 2026-06-13
   days on market $450,000 Active 12 DOM
7. 2026-06-09
   days on market $450,000 Active 9 DOM
8. 2026-06-08
   days on market $450,000 Active 8 DOM
9. 2026-06-07
   days on market $450,000 Active 7 DOM
10. 2026-06-03
    days on market $450,000 Active 3 DOM
11. 2026-06-02
    days on market $450,000 Active 2 DOM
12. 2026-05-31
    remarks 699-char remark
13. 2026-05-31
    listed $450,000 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: $7,662 · $638/mo
• Projected year-2 tax: $7,662 · $638/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 ≥101°F today · 19 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 0% 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: $118,116
• − Mortgage interest: −$25,207
• − Property taxes: −$7,662
• − Insurance: −$2,250
• − Repairs & maintenance: −$9,449
• − Management: −$9,449
• − Depreciation: −$13,091
• Taxable income: $51,008
• Est. tax owed @ 24.0%: −$12,242
• After-tax cash flow: $42,840/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): 30,335
• Household income: $49,195
• Rent vs Own: 48.4% rent · 51.6% own
• Severe rent burden: 1906.0

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 53% Hispanic / Latino 23% Black 18% Two or more races 9%
• Hispanic origin (detail): Mexican 14% Puerto Rican 2%
• Common ancestry: Slovak 2% Lithuanian 2% Italian 1%
• Foreign-born: 9% · Canada
• Languages at home: 81% English-only · Spanish 17%

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: ▼ -192.51%
• Current HPI: 375.0969
• Rent YoY: ▲ 7.31%
• 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

+2161.3% since first listed

25 events — show timeline

• 2026-05-31 Listed $450,000 MIBOR as Distributed by MLS Grid
• 2024-08-01 Sold (Public Records) $305,000 Public Records
• 2024-04-28 Pending — MIBOR as Distributed by MLS Grid
• 2024-04-25 Listing Removed — MIBOR as Distributed by MLS Grid
• 2024-04-15 Price Changed $389,000 MIBOR as Distributed by MLS Grid
• 2024-04-01 Price Changed $399,000 MIBOR as Distributed by MLS Grid
• 2024-03-12 Relisted — MIBOR as Distributed by MLS Grid
• 2024-03-12 Price Changed $415,000 MIBOR as Distributed by MLS Grid
• 2024-02-26 Pending — MIBOR as Distributed by MLS Grid
• 2024-01-13 Relisted — MIBOR as Distributed by MLS Grid
• 2024-01-12 Listing Removed — MIBOR as Distributed by MLS Grid
• 2024-01-04 Relisted — MIBOR as Distributed by MLS Grid
• 2023-12-31 Listing Removed — MIBOR as Distributed by MLS Grid
• 2023-08-28 Price Changed $465,000 MIBOR as Distributed by MLS Grid
• 2023-07-14 Listed $480,000 MIBOR as Distributed by MLS Grid
• 2023-05-11 Pending — MIBOR as Distributed by MLS Grid
• 2023-05-09 Listing Removed — MIBOR as Distributed by MLS Grid
• 2023-04-25 Price Changed $480,000 MIBOR as Distributed by MLS Grid
• 2023-03-30 Listed $560,000 MIBOR as Distributed by MLS Grid
• 2005-07-08 Sold (MLS) $57,700 MIBOR as Distributed by MLS Grid
• 2005-04-15 Listed $62,500 MIBOR as Distributed by MLS Grid
• 2004-02-08 Listing Removed — MIBOR as Distributed by MLS Grid
• 2003-06-10 Listed $107,000 MIBOR as Distributed by MLS Grid
• 2002-08-27 Sold (MLS) $18,000 MIBOR as Distributed by MLS Grid
• 2002-03-18 Listed $19,900 MIBOR as Distributed by MLS Grid

Property tax history

+17.2%/yr

Latest (2025): $7,662 · -10.8% YoY. Source: county tax records.