511 E Marion Ave · Arcadia, IN 46030

$190,000

2 bd · 1.0 ba · 840 sqft · SingleFamily public records · 77 Days on market

Built 1950 6,534 sqft lot $226/sqft · 5% below area Est $201k · 5% under

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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 +12.5/30.0
• ARV discount +9.9/15.0
• DSCR +3.7/10.0
• Livability +3.6/5.0
• Schools +3.3/10.0
• 1% rule +2.8/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Don't miss this adorable 2 bedroom, 1 bath home in the heart of Arcadia. Situated on a nice sized lot this property features several updates including a new bathtub and surround, new bathroom vanity and sink, new laminated hardwood flooring & quarter round in both bedrooms and a brand new water heater in 2026. Property also features a detached 2 car garage & nice rear deck for relaxing after a long day. Close to Cicero & Noblesville & Morse Reservoir. Enjoy plenty of shopping & dining nearby. This cozy home is just what you are looking for!

Key facts

• Nice rear deck
• New bathtub
• New water heater

Tags

• NEW BATHTUB
• NEW BATHROOM VANITY
• NEW WATER HEATER
• DETACHED 2 CAR GARAGE
• NICE REAR DECK

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $190k.

Deal economics

• At list price, monthly cash flow is $-28 ($-330/yr) — negative.
• To cash-flow at today's rent, offer at most $185k (2.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $148k (22.2% below list).
• Recommended offer: $148k (22.2% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 71/100 on livability (#139 in IN) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F, health & safety F.
• Hamilton Heights School Corporation (suburban): math 31% / reading 44% proficiency, ranked #154 of 301 in IN (top 51%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Hamilton Heights Elementary School (math 40% / reading 39%, grade F, #500 of 994 statewide, top 53%, 901 students, 33% FRL); Hamilton Heights Middle School (math 27% / reading 40%, grade F, #176 of 330 statewide, top 54%, 695 students, 34% FRL); Hamilton Heights High School (math 32% / reading 67%, grade D, #123 of 369 statewide, top 36%, 711 students, 31% FRL).
• Market conditions: 33 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 4,661 units permitted in Hamilton County in 2024 (1,528 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 $6k of value loss. Plan a longer hold.
• Hamilton County population projected at +44% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 77 days — a 6% lower offer ($179k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 17y ago; this cycle's ask has dropped $20k (10%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $150k; 27% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1950 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $147,801 (22.2% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 77 days. Have you received any prior offers? Is the seller open to a 22% concession, seller financing, or rate buy-down credit?
3. Built in 1950 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
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 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: 0.78% ✗
• Cap rate: 6.12%
• Cash-on-cash: -0.62%
• DSCR: 0.97
• GRM: 10.7

CMA / ARV

• ARV (median comp): $200,769
• List price: $190,000
• Delta: -5.36%
• Verdict: FAIR
• Comps: 10 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
400 E Hamilton Ave	0.20mi	3/1.0 (+1)	952 (+13%)	13mo	$220,000	$231	53

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -17.4%
• Equity multiple: 0.39×
• Total profit: $-32,592
• Equity at exit: $28,330

10-year hold

• IRR: -9.4%
• Equity multiple: 0.42×
• Total profit: $-30,842
• Equity at exit: $16,428

Cash invested: $53,200 (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 46030

• Home prices YoY: -34.1%
• Active inventory: 33
• Price-to-rent: 10.7×

Monthly cashflow live

• Estimated rent: $1,478 medium
• Mortgage (P&I): −$996
• Tax from tax record: −$120 /mo · $1,435/yr
• Insurance: −$79
• HOA: −$0
• Vacancy / Maint / Mgmt: −$310
• Net cashflow: $-28

Break-even live

Break-even rent $1,513

Max offer price $185,136

Occupancy floor 97%

Sensitivity live

Price	-10% $80	-5% $26	+0% $-28	+5% $-81	+10% $-135
Rent	-10% $-144	-5% $-86	+0% $-28	+5% $31	+10% $89
Rate	-1.0pp $68	-0.5pp $21	base $-28	+0.5pp $-77	+1.0pp $-127

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: $47,500
• Closing costs: $5,700
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
307 Sunset Ln Arcadia, IN	2.0	1.0	837	$1,195	$1.43	0d	1	0.42mi
25575 State Road 19 Arcadia, IN	2.0	1.0	837	$2,000	$2.39	19d	1	0.77mi

Listing history 27 events

1. 2026-06-17
   days on market $190,000 Active 77 DOM
2. 2026-06-16
   days on market $190,000 Active 76 DOM
3. 2026-06-15
   days on market $190,000 Active 75 DOM
4. 2026-06-13
   days on market $190,000 Active 73 DOM
5. 2026-06-13
   pricedays on market $190,000 Active 72 DOM
6. 2026-06-09
   days on market $195,000 Active 69 DOM
7. 2026-06-08
   days on market $195,000 Active 68 DOM
8. 2026-06-07
   days on market $195,000 Active 67 DOM
9. 2026-06-05
   days on market $195,000 Active 64 DOM
10. 2026-06-03
    days on market $195,000 Active 63 DOM
11. 2026-06-02
    days on market $195,000 Active 62 DOM
12. 2026-06-01
    days on market $195,000 Active 61 DOM
13. 2026-05-31
    days on market $195,000 Active 60 DOM
14. 2026-05-09
    price $195,000 566-char remark

    Show marketing remark (566 chars)

    Don't miss this adorable 2 bedroom, 1 bath home in the heart of Arcadia. Situated on a nice sized lot this property features several updates including a new bathtub and surround, new bathroom vanity and sink, new laminated hardwood flooring & quarter round in both bedrooms and a brand new water heater in 2026. Property also features a detached 2 car garage & nice rear deck for relaxing after a long day. Close to Cicero & Noblesville & Morse Reservoir. Enjoy plenty of shopping & dining nearby. This cozy home is just what you are looking for!

15. 2026-04-26
    price $199,000 566-char remark

    Show marketing remark (566 chars)

    Don't miss this adorable 2 bedroom, 1 bath home in the heart of Arcadia. Situated on a nice sized lot this property features several updates including a new bathtub and surround, new bathroom vanity and sink, new laminated hardwood flooring & quarter round in both bedrooms and a brand new water heater in 2026. Property also features a detached 2 car garage & nice rear deck for relaxing after a long day. Close to Cicero & Noblesville & Morse Reservoir. Enjoy plenty of shopping & dining nearby. This cozy home is just what you are looking for!

16. 2026-04-20
    price $205,000 566-char remark

    Show marketing remark (566 chars)

    Don't miss this adorable 2 bedroom, 1 bath home in the heart of Arcadia. Situated on a nice sized lot this property features several updates including a new bathtub and surround, new bathroom vanity and sink, new laminated hardwood flooring & quarter round in both bedrooms and a brand new water heater in 2026. Property also features a detached 2 car garage & nice rear deck for relaxing after a long day. Close to Cicero & Noblesville & Morse Reservoir. Enjoy plenty of shopping & dining nearby. This cozy home is just what you are looking for!

17. 2026-04-20
    status Active 566-char remark

    Show marketing remark (566 chars)

    Don't miss this adorable 2 bedroom, 1 bath home in the heart of Arcadia. Situated on a nice sized lot this property features several updates including a new bathtub and surround, new bathroom vanity and sink, new laminated hardwood flooring & quarter round in both bedrooms and a brand new water heater in 2026. Property also features a detached 2 car garage & nice rear deck for relaxing after a long day. Close to Cicero & Noblesville & Morse Reservoir. Enjoy plenty of shopping & dining nearby. This cozy home is just what you are looking for!

18. 2026-02-23
    historical 566-char remark

    Show marketing remark (566 chars)

    Don't miss this adorable 2 bedroom, 1 bath home in the heart of Arcadia. Situated on a nice sized lot this property features several updates including a new bathtub and surround, new bathroom vanity and sink, new laminated hardwood flooring & quarter round in both bedrooms and a brand new water heater in 2026. Property also features a detached 2 car garage & nice rear deck for relaxing after a long day. Close to Cicero & Noblesville & Morse Reservoir. Enjoy plenty of shopping & dining nearby. This cozy home is just what you are looking for!

19. 2026-02-20
    price $200,000 566-char remark

    Show marketing remark (566 chars)

    Don't miss this adorable 2 bedroom, 1 bath home in the heart of Arcadia. Situated on a nice sized lot this property features several updates including a new bathtub and surround, new bathroom vanity and sink, new laminated hardwood flooring & quarter round in both bedrooms and a brand new water heater in 2026. Property also features a detached 2 car garage & nice rear deck for relaxing after a long day. Close to Cicero & Noblesville & Morse Reservoir. Enjoy plenty of shopping & dining nearby. This cozy home is just what you are looking for!

20. 2026-02-12
    price $205,000 566-char remark

    Show marketing remark (566 chars)

    Don't miss this adorable 2 bedroom, 1 bath home in the heart of Arcadia. Situated on a nice sized lot this property features several updates including a new bathtub and surround, new bathroom vanity and sink, new laminated hardwood flooring & quarter round in both bedrooms and a brand new water heater in 2026. Property also features a detached 2 car garage & nice rear deck for relaxing after a long day. Close to Cicero & Noblesville & Morse Reservoir. Enjoy plenty of shopping & dining nearby. This cozy home is just what you are looking for!

21. 2026-02-05
    listed $210,000 Active 566-char remark

    Show marketing remark (566 chars)

    Don't miss this adorable 2 bedroom, 1 bath home in the heart of Arcadia. Situated on a nice sized lot this property features several updates including a new bathtub and surround, new bathroom vanity and sink, new laminated hardwood flooring & quarter round in both bedrooms and a brand new water heater in 2026. Property also features a detached 2 car garage & nice rear deck for relaxing after a long day. Close to Cicero & Noblesville & Morse Reservoir. Enjoy plenty of shopping & dining nearby. This cozy home is just what you are looking for!

22. 2021-09-30
    soldstatus $149,900 Closed 258-char remark

    Show marketing remark (258 chars)

    Surprise! Home in Hamilton County under $150,000, move in condition, New within the last year, Heating, Cooling, Roof, Gutters, Water Heater, Kitchen, Flooring, Paint and Deck, windows. Large detached garage, Move in and enjoy, so much better than renting!!

23. 2021-08-31
    status Pending 258-char remark

    Show marketing remark (258 chars)

    Surprise! Home in Hamilton County under $150,000, move in condition, New within the last year, Heating, Cooling, Roof, Gutters, Water Heater, Kitchen, Flooring, Paint and Deck, windows. Large detached garage, Move in and enjoy, so much better than renting!!

24. 2021-08-27
    listed $149,900 Active 258-char remark

    Show marketing remark (258 chars)

    Surprise! Home in Hamilton County under $150,000, move in condition, New within the last year, Heating, Cooling, Roof, Gutters, Water Heater, Kitchen, Flooring, Paint and Deck, windows. Large detached garage, Move in and enjoy, so much better than renting!!

25. 2009-07-15
    historical
26. 2009-07-10
    soldstatus $75,000
27. 2009-04-08
    listed $79,000

ⓘ 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: $1,435 · $120/mo
• Projected year-2 tax: $1,525 · $127/mo
• Expected delta: +$90/yr (+$7/mo · 6.3%)

ⓘ 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 · 18 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 0% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $17,736
• − Mortgage interest: −$10,643
• − Property taxes: −$1,435
• − Insurance: −$950
• − Repairs & maintenance: −$1,419
• − Management: −$1,419
• − Depreciation: −$5,527
• Taxable loss: −$3,657
• Est. tax savings @ 24.0%: +$878
• After-tax cash flow: $547/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: Hamilton Heights School Corporation
• NCES district ID: 1804260
• Math proficiency: 31% ▼ -15.00%
• Reading proficiency: 44% ▼ -10.00%
• Median HH income: $60,360
• Composite: 33.37/100
• National rank: #5481
• State rank: #154 of 301 in IN

Livability — Arcadia

• Score: 71/100
• State rank: #139
• US rank: #7213

Category grades

Amenities F Commute F Cost of living A+ Crime A+ Employment B- Housing A+ Health & safety F User ratings A+

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Arcadia, IN
• City population: 3,278
• Population (ZIP): 3,278

Population outlook (Hamilton County) Hauer SSP2

• Today (2025): 381,938 people
• By 2030: 417,496 · +9.3%
• By 2040: 486,684 · +27.4%
• By 2050: 549,805 · +44.0%
• By 2075: 687,078 · +79.9%
• By 2100: 754,495 · +97.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (86%)
• Race & ethnicity: White 86% Two or more races 12% Hispanic / Latino 10%
• Hispanic origin (detail): Mexican 10%
• Common ancestry: Lithuanian 6% Romanian 3% Iranian 2%
• Foreign-born: 6% · Canada, China
• Languages at home: 90% English-only · Spanish 10%

Political lean MEDSL · Hamilton

• 2024 margin: Lean R (+6.1) · D 46.0% · R 52.1% · Other 1.9%
• 2008→2024 swing: +16.2pp toward D · 2008: -22.2pp · 2024: -6.1pp
• All cycles: 2024: R+6.1 2020: R+6.8 2016: R+19.6 2012: R+34.3 2008: R+22.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -116.88%
• Current HPI: 225.6773
• Rent YoY: —
• Metro: —
• 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

+146.8% since first listed

14 events — show timeline

• 2026-05-09 Price Changed $195,000 MIBOR as Distributed by MLS Grid
• 2026-04-26 Price Changed $199,000 MIBOR as Distributed by MLS Grid
• 2026-04-20 Price Changed $205,000 MIBOR as Distributed by MLS Grid
• 2026-04-20 Relisted — MIBOR as Distributed by MLS Grid
• 2026-02-23 Listing Removed — MIBOR as Distributed by MLS Grid
• 2026-02-20 Price Changed $200,000 MIBOR as Distributed by MLS Grid
• 2026-02-12 Price Changed $205,000 MIBOR as Distributed by MLS Grid
• 2026-02-05 Listed $210,000 MIBOR as Distributed by MLS Grid
• 2021-09-30 Sold (MLS) $149,900 MIBOR as Distributed by MLS Grid
• 2021-08-31 Pending — MIBOR as Distributed by MLS Grid
• 2021-08-27 Listed $149,900 MIBOR as Distributed by MLS Grid
• 2009-07-15 Listing Removed — MIBOR as Distributed by MLS Grid
• 2009-07-10 Sold (MLS) $75,000 MIBOR as Distributed by MLS Grid
• 2009-04-08 Listed $79,000 MIBOR as Distributed by MLS Grid

Property tax history

+12.6%/yr

Latest (2025): $1,435 · -2.4% YoY. Source: county tax records.