4705 E 35th St · Indianapolis city (balance), IN 46218

$144,900

3 bd · 1.0 ba · 1,080 sqft · SingleFamily public records · 24 Days on market

Built 1947 7,971 sqft lot

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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 +16.3/30.0
• ARV discount +7.5/15.0
• DSCR +5.0/10.0
• 1% rule +4.5/10.0
• Rent growth +2.7/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.4/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

HUD HOME SOLD IN AS IS CONDITION. FOR INFORMATIN REGARDING HUD FORMS, EARNEST MONEY, REGISTERING & BIDDING SEE THE WEB ADDRESS LISTED BELOW. NO SHOWING APPOINTMENT NECESSARY. ALL INFORMATION DEEMED RELIABLE BUT NOT G UARANTEED. CASE NUMBER 151-571746 INSURED STATUS IN IC:SYSTEMS LBP POSSIBLE MOLD PRICE REDUCTION HUD LIST DATE:11/14/2003.

Key facts

• Upstairs loft
• Natural light
• Updated lighting

Tags

• REFINISHED HARDWOOD FLOORS
• UPDATED LIGHTING
• NATURAL LIGHT
• UPSTAIRS LOFT
• UPDATED BATHROOM
• REPLACEMENT WINDOWS

Property features AI

Exterior

• Parking: Detached garage with two parking spaces (approximately 528 sq ft)
• Utilities: Public water; Municipal sewer connection; No solid waste service listed
• Home design: Single-family residence; One-and-a-half story
• Construction: Vinyl siding; Block foundation
• Exterior features: Lot under 1/4 acre (about 0.18 acre)

Interior

• Kitchen: Eat-in kitchen; Gas water heater
• Bedrooms: Three bedrooms total — two on the main level and one on the upper level; Upper-level loft/bonus room
• Bathrooms: One full bathroom
• Heating & cooling: Forced air heating (natural gas); Central air conditioning
• Interior features: Attic access; Eat-in kitchen; Has basement
• Laundry & utility: No built-in appliances listed

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $145k.

Deal economics

• At list price, monthly cash flow is $79 ($946/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 $137k (5.3% below list).
• Recommended offer: $137k (5.3% below list) — sets the bar for 1% rule.
• Cap rate 6.9% 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: Center For Inquiry School 27 (math 25% / reading 29%, grade F, #737 of 994 statewide, top 76%, 525 students, 51% 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 flat; 338 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); lower-income renter base — watch delinquency; 1,906 units permitted in Marion County in 2024 (621 in 5+ unit buildings).
• This rent runs 43% of the median local income ($38k/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 $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 24 days — a 2% lower offer ($143k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 26y ago; this cycle's ask has dropped $25k (15%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $35k; list at $145k implies a 314% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1947 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $137,148 (5.3% below list)

Questions for the listing agent

1. Built in 1947 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
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: 0.95% ✗
• Cap rate: 6.95%
• Cash-on-cash: 2.33%
• DSCR: 1.10
• GRM: 8.8

CMA / ARV

• ARV (on-the-fly): $95,040
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3239 N Colorado Ave	0.36mi	3/1.0	1,104 (+2%)	4mo	$149,500	$135	76
4850 E 34th St	0.16mi	2/1.0 (-1)	1,125 (+4%)	5mo	$95,000	$84	76
3119 N Dequincy St	0.49mi	2/1.0 (-1)	1,079 (-0%)	3mo	$95,000	$88	69
3142 N Euclid Ave	0.46mi	3/1.0	1,050 (-3%)	8mo	$114,000	$109	68
3901 Wallace Ave	0.53mi	2/1.0 (-1)	1,047 (-3%)	0mo	$55,000	$53	65
3132 Wallace Ave	0.46mi	3/1.0	1,200 (+11%)	4mo	$100,000	$83	57
4315 E 30th	0.67mi	3/1.0	1,176 (+9%)	0mo	$66,500	$57	54
4723 Munter Ln	0.54mi	3/1.0	1,200 (+11%)	4mo	$75,000	$63	53
3125 N Bancroft St	0.55mi	3/1.0	936 (-13%)	3mo	$156,000	$167	49
3126 Forest Manor Ave	0.65mi	2/1.0 (-1)	954 (-12%)	4mo	$55,000	$58	42
3132 N Bancroft St	0.53mi	4/1.0 (+1)	1,232 (+14%)	7mo	$145,000	$118	41
3536 N Hawthorne Ln	0.65mi	3/2.0	925 (-14%)	6mo	$149,900	$162	37

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 · 0.81% rent growth · sell at horizon

5-year hold

• IRR: -15.1%
• Equity multiple: 0.47×
• Total profit: $-21,394
• Equity at exit: $21,605

10-year hold

• IRR: -10.7%
• Equity multiple: 0.42×
• Total profit: $-23,686
• Equity at exit: $12,528

Cash invested: $40,572 (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 46218

• Home prices YoY: -17.1%
• Rents YoY: 0.8%
• Active inventory: 338
• Price-to-rent: 8.8×

Monthly cashflow live

• Estimated rent: $1,371 high
• Mortgage (P&I): −$760
• Tax from tax record: −$184 /mo · $2,213/yr
• Insurance: −$60
• HOA: −$0
• Vacancy / Maint / Mgmt: −$288
• Net cashflow: $79

Break-even live

Break-even rent $1,272

Max offer price $144,900

Occupancy floor 89%

Sensitivity live

Price	-10% $161	-5% $120	+0% $79	+5% $38	+10% $-3
Rent	-10% $-30	-5% $25	+0% $79	+5% $133	+10% $187
Rate	-1.0pp $152	-0.5pp $116	base $79	+0.5pp $41	+1.0pp $3

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: $36,225
• Closing costs: $4,347
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3332 Wallace Ave Indianapolis, IN	3.0	1.0	936	$1,600	$1.71	25d	1	0.25mi
3315 N Euclid Ave Indianapolis, IN	2.0	1.0	780	$1,300	$1.67	16d	1	0.25mi
3734 Manor Ct Indianapolis, IN	3.0	1.0	1414	$1,399	$0.99	9d	1	0.33mi
3167 Shick Dr Indianapolis, IN	4.0	1.0	1141	$2,350	$2.06	45d	1	0.40mi
3316 N Emerson Ave Indianapolis, IN	3.0	1.0	912	$1,100	$1.21	25d	1	0.43mi
3142 N Euclid Ave Indianapolis, IN	3.0	1.0	1050	$1,050	$1.00	45d	1	0.46mi
3639 N Emerson Ave Indianapolis, IN	4.0	1.0	1000	$1,450	$1.45	23d	1	0.47mi
3149 N Gladstone Ave Indianapolis, IN	3.0	1.5	1036	$1,350	$1.30	9d	1	0.52mi
3301 Mardenna Ave Indianapolis, IN	3.0	1.0	925	$1,200	$1.30	45d	1	0.56mi
4320 E 30th St Indianapolis, IN	3.0	1.5	1152	$1,195	$1.04	0d	1	0.65mi
4320 E 30th St Indianapolis, IN	3.0	1.5	1152	$1,195	$1.04	25d	1	0.65mi
3516 N Hawthorne Ln Indianapolis, IN	3.0	1.0	925	$1,225	$1.32	6d	1	0.65mi
3725 N Sherman Dr #7 Indianapolis, IN	2.0	1.0	729	$845	$1.16	5d	1	0.66mi
3725 N Sherman Dr #7 Indianapolis, IN	2.0	1.0	729	$845	$1.16	0d	1	0.66mi
3815 N Grand Ave Unit 3815 Indianapolis, IN	2.0	1.0	965	$1,250	$1.30	6d	1	0.68mi
2950 N Dequincy St Indianapolis, IN	3.0	1.0	888	$1,375	$1.55	15d	1	0.68mi
3319 N Hawthorne Ln Indianapolis, IN	3.0	1.0	1084	$1,100	$1.01	25d	1	0.70mi
2932 Arthington Blvd Indianapolis, IN	3.0	1.0	900	$1,350	$1.50	25d	1	0.71mi
3383 Station St Indianapolis, IN	3.0	1.0	744	$1,250	$1.68	25d	1	0.71mi
3920 E 30th St Indianapolis, IN	3.0	1.0	1071	$1,350	$1.26	9d	1	0.79mi
3920 E 30th St Indianapolis, IN	3.0	1.0	1071	$1,350	$1.26	6d	1	0.79mi
3165 Station St Unit A Indianapolis, IN	2.0	1.0	768	$1,000	$1.30	0d	1	0.80mi
3421 N Olney St Indianapolis, IN	2.0	1.0	720	$1,195	$1.66	18d	1	0.84mi
3636 N Whittier Pl Indianapolis, IN	3.0	1.0	912	$995	$1.09	9d	1	0.85mi
3522 N Olney St Indianapolis, IN	3.0	1.0	768	$1,300	$1.69	45d	1	0.87mi
2864 Forest Manor Ave Indianapolis, IN	3.0	1.0	1018	$1,500	$1.47	25d	1	0.87mi
3615 Sherman Forest Dr Indianapolis, IN	4.0	1.0–2.5	1057	$1,544	$1.46	6d	1	0.89mi
2819 N Gladstone Ave Indianapolis, IN	4.0	2.0	1261	$1,450	$1.15	45d	1	0.91mi
2862 N Chester Ave Indianapolis, IN	3.0	2.0	1076	$1,520	$1.41	45d	1	0.91mi
3436 N Lasalle St Indianapolis, IN	3.0	1.0	1118	$1,300	$1.16	0d	1	1.03mi
3070 N Layman Ave #1 Indianapolis, IN	3.0	2.0	1480	$1,700	$1.15	45d	1	1.08mi
3718 N Audubon Rd Indianapolis, IN	3.0	1.0	875	$1,300	$1.49	25d	1	1.11mi
2826 Station St Indianapolis, IN	3.0	2.0	1248	$1,550	$1.24	45d	1	1.12mi
3472 N Dearborn St Indianapolis, IN	2.0	1.0	890	$1,099	$1.23	21d	1	1.13mi
2828 N Gale St Indianapolis, IN	3.0	2.0	1248	$1,260	$1.01	0d	1	1.17mi
2703 Kristen Dr E Indianapolis, IN	3.0	1.0	1155	$1,700	$1.47	45d	1	1.19mi
4115 Meadows Dr Indianapolis, IN	1.0–3.0	1.0–2.0	1013	$1,592	$1.57	45d	9	1.20mi
2949 Adams St Indianapolis, IN	2.0	1.0	978	$1,150	$1.18	45d	1	1.20mi
5602 Glencoe St Indianapolis, IN	3.0	1.0	1000	$1,749	$1.75	19d	1	1.25mi
3535 N Oxford St Indianapolis, IN	3.0	1.0	1015	$1,500	$1.48	23d	1	1.27mi

Listing history 23 events

1. 2026-06-21
   days on market $144,900 Active 24 DOM
2. 2026-06-18
   days on market $144,900 Active 21 DOM
3. 2026-06-17
   days on market $144,900 Active 20 DOM
4. 2026-06-16
   days on market $144,900 Active 19 DOM
5. 2026-06-15
   days on market $144,900 Active 18 DOM
6. 2026-06-13
   days on market $144,900 Active 16 DOM
7. 2026-06-13
   pricedays on market $144,900 Active 15 DOM
8. 2026-06-09
   days on market $159,900 Active 12 DOM
9. 2026-06-08
   days on market $159,900 Active 11 DOM
10. 2026-06-07
    days on market $159,900 Active 10 DOM
11. 2026-06-03
    pricedays on market $159,900 Active 6 DOM
12. 2026-06-02
    days on market $169,900 Active 5 DOM
13. 2026-06-01
    days on market $169,900 Active 4 DOM
14. 2026-05-31
    days on market $169,900 Active 3 DOM
15. 2026-05-28
    listed $169,900 Active
16. 2004-01-20
    soldstatus $35,000 347-char remark

    Show marketing remark (347 chars)

    HUD HOME SOLD IN AS IS CONDITION. FOR INFORMATIN REGARDING HUD FORMS, EARNEST MONEY, REGISTERING & BIDDING SEE THE WEB ADDRESS LISTED BELOW. NO SHOWING APPOINTMENT NECESSARY. ALL INFORMATION DEEMED RELIABLE BUT NOT G UARANTEED. CASE NUMBER 151-571746 INSURED STATUS IN IC:SYSTEMS LBP POSSIBLE MOLD PRICE REDUCTION HUD LIST DATE:11/14/2003.

17. 2003-08-08
    listed $38,400 347-char remark

    Show marketing remark (347 chars)

    HUD HOME SOLD IN AS IS CONDITION. FOR INFORMATIN REGARDING HUD FORMS, EARNEST MONEY, REGISTERING & BIDDING SEE THE WEB ADDRESS LISTED BELOW. NO SHOWING APPOINTMENT NECESSARY. ALL INFORMATION DEEMED RELIABLE BUT NOT G UARANTEED. CASE NUMBER 151-571746 INSURED STATUS IN IC:SYSTEMS LBP POSSIBLE MOLD PRICE REDUCTION HUD LIST DATE:11/14/2003.

18. 2001-12-04
    historical
19. 2001-06-17
    historical
20. 2001-06-06
    listed $68,500
21. 2001-01-18
    listed $69,900
22. 2001-01-17
    historical
23. 2000-07-24
    listed $69,900

ⓘ 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: $2,213 · $184/mo
• Projected year-2 tax: $2,213 · $184/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 ≥101°F today · 18 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: $16,458
• − Mortgage interest: −$8,117
• − Property taxes: −$2,213
• − Insurance: −$724
• − Repairs & maintenance: −$1,317
• − Management: −$1,317
• − Depreciation: −$4,215
• Taxable loss: −$1,445
• Est. tax savings @ 24.0%: +$347
• After-tax cash flow: $1,293/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): 29,360
• Household income: $38,063
• Rent vs Own: 47.2% rent · 52.8% own
• Severe rent burden: 2340.0

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 Black (68%)
• Race & ethnicity: Black 68% White 18% Hispanic / Latino 9% Two or more races 6%
• Hispanic origin (detail): Mexican 6%
• Common ancestry: Romanian 1%
• Foreign-born: 5% · Canada, Philippines
• Languages at home: 92% English-only · Spanish 7%

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: ▼ -81.57%
• Current HPI: 395.7071
• Rent YoY: ▲ 0.81%
• 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

+143.1% since first listed

9 events — show timeline

• 2026-05-28 Listed $169,900 MIBOR as Distributed by MLS Grid
• 2004-01-20 Sold (MLS) $35,000 MIBOR as Distributed by MLS Grid
• 2003-08-08 Listed $38,400 MIBOR as Distributed by MLS Grid
• 2001-12-04 Listing Removed — MIBOR as Distributed by MLS Grid
• 2001-06-17 Listing Removed — MIBOR as Distributed by MLS Grid
• 2001-06-06 Listed $68,500 MIBOR as Distributed by MLS Grid
• 2001-01-18 Listed $69,900 MIBOR as Distributed by MLS Grid
• 2001-01-17 Listing Removed — MIBOR as Distributed by MLS Grid
• 2000-07-24 Listed $69,900 MIBOR as Distributed by MLS Grid

Property tax history

+7.8%/yr

Latest (2025): $2,213 · +16.7% YoY. Source: county tax records.