1418 E Bradbury Ave · Indianapolis city (balance), IN 46203

$140,000

2 bd · 1.0 ba · 2,070 sqft · MultiFamily public records · 67 Days on market

Built 1904 6,011 sqft lot $68/sqft · 19% below area Est $173k · 19% 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

Multi-family units

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

Listing remarks MLS

Welcome to your newest CASH FLOWING INVESTMENT PROPERTY. This up and down duplex is fully occupied, bringing in $1,495 !! The top unit is TWO BEDROOMS, with WALK IN CLOSETS, along with a HUGE KITCHEN. The bottom unit provides a single bedroom, with an ADDITIONAL ROOM for an office or storage. Each unit has LONG TERM TENANTS, that provide ease of mind to add to your portfolio! The GAS FURNACE AND WATER HEATER WERE REPLACED IN 2026, as well as the SUMP PUMP IN THE BASEMENT.

Key facts

• Up and down duplex
• Additional room
• Walk in closets

Tags

• UP AND DOWN DUPLEX
• WALK IN CLOSETS
• HUGE KITCHEN
• ADDITIONAL ROOM

What this means for you Summary

Snapshot

• This is a 1×3bd/2.0ba + 1×1bd/1.0ba units multifamily listed at $140k.

Deal economics

• At list price, monthly cash flow is $1k ($12k/yr) — positive. Per door: $520/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $140k).
• Recommended offer: $132k (6.0% below list) — sets the bar for market timing.
• Cap rate 15.2% 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 (+2.9%/yr); 499 active listings in the ZIP; 34 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).
• At $2,553/mo this rent would consume 53% of the median local household income ($57k/yr) (locally 1499% 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 $968 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.
• At projected returns (-3.0% appreciation + 2.9% rent growth), your $39k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 67 days — a 6% lower offer ($132k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 9y ago; this cycle's ask has dropped $15k (10%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $68k; list at $140k implies a 107% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1904 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $131,600 (6.0% below list)

Questions for the listing agent

1. It's been on market 67 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1904 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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.
8. 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.
9. 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: 1.82% ✓
• Cap rate: 15.22%
• Cash-on-cash: 31.87%
• DSCR: 2.42
• GRM: 4.6

CMA / ARV

• ARV (median comp): $173,358
• List price: $140,000
• Delta: -19.24%
• Verdict: UNDERPRICED
• Comps: 13 within 1.0 mi

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1517 Wade St	0.09mi	1/2.0 (-1)	2,212 (+7%)	2mo	$164,000	$74	74
1210 E Southern Ave	0.29mi	3/3.0 (+1)	1,974 (-5%)	6mo	$175,000	$89	60
1845 Barth Ave	0.65mi	3/2.0 (+1)	2,352 (+14%)	6mo	$295,000	$125	33

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: 26.7%
• Equity multiple: 2.11×
• Total profit: $43,351
• Equity at exit: $20,874

10-year hold

• IRR: 34.2%
• Equity multiple: 4.11×
• Total profit: $122,041
• Equity at exit: $12,105

Cash invested: $39,200 (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: 499
• Price-to-rent: 8.6×

Monthly cashflow live

• Estimated rent: $2,553 high
• Mortgage (P&I): −$734
• Tax from tax record: −$183 /mo · $2,200/yr
• Insurance: −$58
• HOA: −$0
• Vacancy / Maint / Mgmt: −$536
• Net cashflow: $1,041

Break-even live

Break-even rent $1,235

Max offer price $140,000

Occupancy floor 54%

Sensitivity live

Price	-10% $1,120	-5% $1,081	+0% $1,041	+5% $1,001	+10% $962
Rent	-10% $839	-5% $940	+0% $1,041	+5% $1,142	+10% $1,243
Rate	-1.0pp $1,112	-0.5pp $1,077	base $1,041	+0.5pp $1,005	+1.0pp $968

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

Units	Beds	Baths	Est. rent
1× unit	3	2	$1,363
1× unit	1	1	$1,190
Total (2 units)			$2,553

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: $35,000
• Closing costs: $4,200
• Reserves months: —
• Total cash needed: —

Rent comps 34 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1546 E Bradbury Ave Indianapolis, IN	2.0	1.5	2066	$1,500	$0.73	44d	1	0.12mi
1528 E Tabor St Indianapolis, IN	3.0	1.5	2200	$1,550	$0.70	15d	1	0.22mi
1628 Cruft St Indianapolis, IN	3.0	2.0	1992	$1,495	$0.75	44d	1	0.36mi
1258 E Naomi St Indianapolis, IN	3.0	2.0	1608	$1,450	$0.90	8d	1	0.61mi
1641 Iowa St Indianapolis, IN	3.0	3.0	1938	$1,900	$0.98	24d	1	0.72mi
1830 Orleans St Indianapolis, IN	3.0	2.5	1586	$1,995	$1.26	44d	1	0.90mi
1619 S Randolph St Indianapolis, IN	3.0	1.0	2016	$1,195	$0.59	24d	1	0.92mi
438 E Beecher St Indianapolis, IN	3.0	2.5	1500	$1,450	$0.97	24d	1	0.95mi
835 Weghorst St Unit 837 Indianapolis, IN	3.0	1.5	1500	$1,399	$0.93	24d	1	1.01mi
1330 Laurel St Indianapolis, IN	3.0	2.0	1911	$2,250	$1.18	21d	1	1.04mi
1337 Barth Ave Indianapolis, IN	3.0	1.0	2468	$1,700	$0.69	11d	1	1.09mi
1337 Barth Ave Indianapolis, IN	3.0	1.0	2468	$1,700	$0.69	8d	1	1.09mi
1337 Barth Ave Indianapolis, IN	3.0	1.0	2468	$1,700	$0.69	17d	1	1.09mi
1337 Barth Ave Unit NA Indianapolis, IN	3.0	1.0	2468	$1,700	$0.69	5d	1	1.09mi
752 Cottage Ave Indianapolis, IN	3.0	2.0	1548	$1,750	$1.13	15d	1	1.11mi
728 Cottage Ave Indianapolis, IN	3.0	2.5	1831	$2,550	$1.39	24d	1	1.13mi
3319 Olive St Indianapolis, IN	3.0	2.0	1588	$1,450	$0.91	24d	1	1.15mi
1301 Ringgold Ave Unit 1303750P Indianapolis, IN	3.0	3.0	2884	$6,514	$2.26	44d	1	1.15mi
1035 Sanders St Unit 163 Indianapolis, IN	2.0	1.0	1481	$1,921	$1.30	44d	1	1.17mi
2283 Union St Indianapolis, IN	3.0	2.0	1824	$1,820	$1.00	24d	1	1.20mi
734 Parkway Ave Indianapolis, IN	3.0	2.0	2110	$2,299	$1.09	24d	1	1.21mi
1230 Harlan St Indianapolis, IN	3.0	3.5	2167	$2,600	$1.20	2d	1	1.22mi
1247 Wright St Indianapolis, IN	3.0	1.5	1809	$1,750	$0.97	44d	1	1.24mi
1441 Prospect St Indianapolis, IN	2.0	1.0–2.0	2840	$2,000	$0.70	2d	13	1.25mi
1713 S Delaware St Indianapolis, IN	2.0	2.0	1785	$1,700	$0.95	44d	1	1.27mi
932 E Morris St Indianapolis, IN	2.0	2.0	1483	$1,900	$1.28	4d	1	1.28mi
1123 Churchman Ave Indianapolis, IN	3.0	1.5	1472	$1,360	$0.92	15d	1	1.36mi
736 E Morris St Indianapolis, IN	2.0	1.5	1500	$1,195	$0.80	5d	1	1.36mi
1502 Woodlawn Ave Indianapolis, IN	2.0	2.0	1441	$2,500	$1.73	15d	1	1.37mi
1020 S Randolph St Indianapolis, IN	3.0	1.5	1550	$1,650	$1.06	24d	1	1.39mi
406 Orange St Indianapolis, IN	3.0	2.5	1820	$2,250	$1.24	44d	1	1.40mi
3216 Brill Rd Indianapolis, IN	3.0	2.0	1628	$1,646	$1.01	24d	1	1.44mi
518 Prospect St Unit 1357365P Indianapolis, IN	3.0	2.0	1614	$2,594	$1.61	8d	1	1.49mi
518 Prospect St Unit 1353834P Indianapolis, IN	3.0	2.0	1603	$2,442	$1.52	15d	1	1.49mi

Listing history 27 events

1. 2026-06-21
   days on market $140,000 Active 67 DOM
2. 2026-06-18
   days on market $140,000 Active 64 DOM
3. 2026-06-17
   days on market $140,000 Active 63 DOM
4. 2026-06-16
   days on market $140,000 Active 62 DOM
5. 2026-06-15
   days on market $140,000 Active 61 DOM
6. 2026-06-13
   days on market $140,000 Active 59 DOM
7. 2026-06-13
   days on market $140,000 Active 58 DOM
8. 2026-06-09
   days on market $140,000 Active 55 DOM
9. 2026-06-08
   days on market $140,000 Active 54 DOM
10. 2026-06-07
    days on market $140,000 Active 53 DOM
11. 2026-06-03
    days on market $140,000 Active 49 DOM
12. 2026-06-02
    days on market $140,000 Active 48 DOM
13. 2026-06-01
    days on market $140,000 Active 47 DOM
14. 2026-05-31
    days on market $140,000 Active 46 DOM
15. 2026-04-15
    listed $155,000 Active 476-char remark

    Show marketing remark (476 chars)

    Welcome to your newest CASH FLOWING INVESTMENT PROPERTY. This up and down duplex is fully occupied, bringing in $1,495 !! The top unit is TWO BEDROOMS, with WALK IN CLOSETS, along with a HUGE KITCHEN. The bottom unit provides a single bedroom, with an ADDITIONAL ROOM for an office or storage. Each unit has LONG TERM TENANTS, that provide ease of mind to add to your portfolio! The GAS FURNACE AND WATER HEATER WERE REPLACED IN 2026, as well as the SUMP PUMP IN THE BASEMENT.

16. 2022-01-30
    price $650
17. 2018-06-08
    soldstatus $67,500 Sold 213-char remark

    Show marketing remark (213 chars)

    Great money maker and opportunity! Lower unit has 2 bedrooms, 1 bath, kitchen, laundry room, dining room & living room. Upper unit has 1 bedroom, large living room & spacious kitchen. This is a must see.

18. 2018-04-02
    status Pending 213-char remark

    Show marketing remark (213 chars)

    Great money maker and opportunity! Lower unit has 2 bedrooms, 1 bath, kitchen, laundry room, dining room & living room. Upper unit has 1 bedroom, large living room & spacious kitchen. This is a must see.

19. 2018-03-19
    status Active 213-char remark

    Show marketing remark (213 chars)

    Great money maker and opportunity! Lower unit has 2 bedrooms, 1 bath, kitchen, laundry room, dining room & living room. Upper unit has 1 bedroom, large living room & spacious kitchen. This is a must see.

20. 2018-03-14
    status Pending 213-char remark

    Show marketing remark (213 chars)

    Great money maker and opportunity! Lower unit has 2 bedrooms, 1 bath, kitchen, laundry room, dining room & living room. Upper unit has 1 bedroom, large living room & spacious kitchen. This is a must see.

21. 2018-03-08
    price $75,000 213-char remark

    Show marketing remark (213 chars)

    Great money maker and opportunity! Lower unit has 2 bedrooms, 1 bath, kitchen, laundry room, dining room & living room. Upper unit has 1 bedroom, large living room & spacious kitchen. This is a must see.

22. 2018-03-06
    price $90,000 213-char remark

    Show marketing remark (213 chars)

    Great money maker and opportunity! Lower unit has 2 bedrooms, 1 bath, kitchen, laundry room, dining room & living room. Upper unit has 1 bedroom, large living room & spacious kitchen. This is a must see.

23. 2018-03-06
    listed $75,000 Active 213-char remark

    Show marketing remark (213 chars)

    Great money maker and opportunity! Lower unit has 2 bedrooms, 1 bath, kitchen, laundry room, dining room & living room. Upper unit has 1 bedroom, large living room & spacious kitchen. This is a must see.

24. 2017-08-10
    soldstatus $33,500 Sold
25. 2017-07-31
    status Pending
26. 2017-07-24
    price $37,500
27. 2017-06-12
    listed $42,000 Active

ⓘ 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: $2,200 · $183/mo
• Projected year-2 tax: $2,200 · $183/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 4/10 Moderate FEMA zone X (unshaded) · 20% 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 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: $30,636
• − Mortgage interest: −$7,842
• − Property taxes: −$2,200
• − Insurance: −$700
• − Repairs & maintenance: −$2,451
• − Management: −$2,451
• − Depreciation: −$4,073
• Taxable income: $10,919
• Est. tax owed @ 24.0%: −$2,621
• After-tax cash flow: $9,871/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

+269.0% since first listed

13 events — show timeline

• 2026-04-15 Listed $155,000 MIBOR as Distributed by MLS Grid
• 2022-01-30 Price Changed $650 RENT.
• 2018-06-08 Sold (MLS) $67,500 MIBOR as Distributed by MLS Grid
• 2018-04-02 Pending — MIBOR as Distributed by MLS Grid
• 2018-03-19 Relisted — MIBOR as Distributed by MLS Grid
• 2018-03-14 Pending — MIBOR as Distributed by MLS Grid
• 2018-03-08 Price Changed $75,000 MIBOR as Distributed by MLS Grid
• 2018-03-06 Price Changed $90,000 MIBOR as Distributed by MLS Grid
• 2018-03-06 Listed $75,000 MIBOR as Distributed by MLS Grid
• 2017-08-10 Sold (MLS) $33,500 MIBOR as Distributed by MLS Grid
• 2017-07-31 Pending — MIBOR as Distributed by MLS Grid
• 2017-07-24 Price Changed $37,500 MIBOR as Distributed by MLS Grid
• 2017-06-12 Listed $42,000 MIBOR as Distributed by MLS Grid

Property tax history

+11.0%/yr

Latest (2025): $2,200 · -3.3% YoY. Source: county tax records.