706 Alabama Ct · Marion, IN 46953

$69,000

3 bd · 1.0 ba · 1,240 sqft · SingleFamily public records · 36 Days on market

Built 1963 7,841 sqft lot Est $79k · 13% under ↓ 1% since listing

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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 +13.4/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.7/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Comfortable Single Level Home with More than 1,200 SF! Spacious Living Room & Family Room, Oversized 1.5 Car Attached Garage. Home is currently 2 Bedrooms (was originally 3), could easily be made 3 Bedrooms again with replacement of wall. Eat-in Kitchen, One Full Bath. Low Maintenance Vinyl Siding. Bonus 10x12 Storage Shed. Backyard overlooks rural country setting with western sunset views! Immediate Possession! Estate Sale Property, selling as-is.

Key facts

• Fenced backyard
• 7,841 sq ft lot
• Garage

Tags

• DETACHED ONE-CAR GARAGE
• GENEROUSLY SIZED STORAGE SHED
• FENCED BACKYARD

Property features AI

Finance

• Other: Property in the Danecrest subdivision

Exterior

• Parking: Attached garage (1 car)
• Utilities: Public water; Public sewer
• Home design: Single-family residence; Site-built home; One story
• Construction: Vinyl siding; Slab foundation
• Exterior features: Level lot; Paved public road access

Interior

• Kitchen: Gas range
• Bathrooms: One full bathroom (main level)
• Heating & cooling: Central air conditioning; Natural gas heating; Baseboard heating; Forced air heating
• Interior features: Gas water heater; One fireplace; Five total rooms
• Laundry & utility: Laundry on the main level

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $69k.

Deal economics

• At list price, monthly cash flow is $538 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $69k).
• Recommended offer: $67k (3.0% below list) — sets the bar for market timing.
• Cap rate 15.6% vs local median 8.5% in Marion — 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 65/100 on livability (#337 in IN) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F, employment F.
• Marion Community Schools (town): math 18% / reading 24% proficiency, ranked #277 of 301 in IN (top 92%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 67% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: John W Kendall Elem School (math 37% / reading 32%, grade F, #597 of 994 statewide, top 63%, 372 students, 69% FRL); John L Mcculloch Junior High Sch (math 11% / reading 22%, grade F, #287 of 330 statewide, top 88%, 524 students, 74% FRL); Marion High School (math 12% / reading 47%, grade F, #308 of 369 statewide, top 84%, 1,050 students, 66% FRL) — zoned schools at 70% FRL track the district average.
• Market conditions: 114 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; 52 units permitted in Grant County in 2024 (8 in 5+ unit buildings).
• This rent runs 32% of the median local income ($46k/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 $477 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Grant County population projected at -18% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $19k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 36 days — a 3% lower offer ($67k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 3y 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.

Recommended offer $66,930 (3.0% below list)

Questions for the listing agent

1. It's been on market 36 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1963 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
5. 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.
6. 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.
7. 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: 1.76% ✓
• Cap rate: 15.65%
• Cash-on-cash: 33.41%
• DSCR: 2.49
• GRM: 4.7

CMA / ARV

• ARV (on-the-fly): $79,360
• Comps found: 9

Show comp detail 9 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2435 W 8th St	0.13mi	3/2.0	1,320 (+6%)	4mo	$102,000	$77	76
2510 W 10th St	0.16mi	2/1.0 (-1)	1,222 (-2%)	18mo	$107,000	$88	70
2610 W 9th St	0.08mi	4/1.5 (+1)	1,326 (+7%)	10mo	$115,000	$87	69
2115 W 8th St	0.61mi	3/1.0	1,255 (+1%)	9mo	$42,000	$33	62
609 S Miller Ave	0.51mi	2/1.0 (-1)	1,344 (+8%)	11mo	$72,500	$54	48
2412 W 14th St	0.48mi	2/1.0 (-1)	1,092 (-12%)	12mo	$24,900	$23	42
608 S Lenfesty Ave	0.66mi	3/2.0	1,334 (+8%)	19mo	$85,000	$64	36
2105 W 8th St	0.65mi	3/1.0	1,080 (-13%)	15mo	$112,000	$104	36
2310 W 12th St	0.42mi	2/1.0 (-1)	1,420 (+14%)	20mo	$39,888	$28	34

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: 28.6%
• Equity multiple: 2.19×
• Total profit: $23,059
• Equity at exit: $10,288

10-year hold

• IRR: 36.0%
• Equity multiple: 4.32×
• Total profit: $64,131
• Equity at exit: $5,966

Cash invested: $19,320 (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 46953

• Home prices YoY: -23.4%
• Active inventory: 114
• Price-to-rent: 4.7×

Monthly cashflow live

• Estimated rent: $1,218 medium
• Mortgage (P&I): −$362
• Tax from tax record: −$34 /mo · $402/yr
• Insurance: −$29
• HOA: −$0
• Vacancy / Maint / Mgmt: −$256
• Net cashflow: $538

Break-even live

Break-even rent $537

Max offer price $69,000

Occupancy floor 51%

Sensitivity live

Price	-10% $577	-5% $557	+0% $538	+5% $518	+10% $499
Rent	-10% $442	-5% $490	+0% $538	+5% $586	+10% $634
Rate	-1.0pp $573	-0.5pp $555	base $538	+0.5pp $520	+1.0pp $502

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: $17,250
• Closing costs: $2,070
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2145 W 2nd St Marion, IN	3.0	1.5	1377	$1,650	$1.20	44d	1	0.66mi
2116 W 2nd St Marion, IN	1.0–2.0	1.0	764	$945	$1.24	44d	1	0.81mi
2111 W Frederick Dr Marion, IN	1.0–2.0	1.0–1.5	965	$937	$0.97	44d	4	1.30mi

Listing history 19 events

1. 2026-06-21
   days on market $69,000 Active 36 DOM
2. 2026-06-19
   days on market $69,000 Active 34 DOM
3. 2026-06-18
   days on market $69,000 Active 33 DOM
4. 2026-06-17
   days on market $69,000 Active 32 DOM
5. 2026-06-16
   days on market $69,000 Active 31 DOM
6. 2026-06-15
   days on market $69,000 Active 30 DOM
7. 2026-06-14
   days on market $69,000 Active 28 DOM
8. 2026-06-12
   days on market $69,000 Active 27 DOM
9. 2026-06-09
   days on market $69,000 Active 24 DOM
10. 2026-06-08
    days on market $69,000 Active 23 DOM
11. 2026-06-07
    days on market $69,000 Active 22 DOM
12. 2026-06-02
    days on market $69,000 Active 17 DOM
13. 2026-06-01
    days on market $69,000 Active 16 DOM
14. 2026-05-31
    days on market $69,000 Active 15 DOM
15. 2026-05-30
    days on market $69,000 Active 14 DOM
16. 2026-05-16
    listed $69,000 Active
17. 2023-10-06
    soldstatus $68,000 Closed 458-char remark

    Show marketing remark (458 chars)

    Comfortable Single Level Home with More than 1,200 SF! Spacious Living Room & Family Room, Oversized 1.5 Car Attached Garage. Home is currently 2 Bedrooms (was originally 3), could easily be made 3 Bedrooms again with replacement of wall. Eat-in Kitchen, One Full Bath. Low Maintenance Vinyl Siding. Bonus 10x12 Storage Shed. Backyard overlooks rural country setting with western sunset views! Immediate Possession! Estate Sale Property, selling as-is.

18. 2023-09-29
    historical Active Under Contract 458-char remark

    Show marketing remark (458 chars)

    Comfortable Single Level Home with More than 1,200 SF! Spacious Living Room & Family Room, Oversized 1.5 Car Attached Garage. Home is currently 2 Bedrooms (was originally 3), could easily be made 3 Bedrooms again with replacement of wall. Eat-in Kitchen, One Full Bath. Low Maintenance Vinyl Siding. Bonus 10x12 Storage Shed. Backyard overlooks rural country setting with western sunset views! Immediate Possession! Estate Sale Property, selling as-is.

19. 2023-09-25
    listed $69,900 Active 458-char remark

    Show marketing remark (458 chars)

    Comfortable Single Level Home with More than 1,200 SF! Spacious Living Room & Family Room, Oversized 1.5 Car Attached Garage. Home is currently 2 Bedrooms (was originally 3), could easily be made 3 Bedrooms again with replacement of wall. Eat-in Kitchen, One Full Bath. Low Maintenance Vinyl Siding. Bonus 10x12 Storage Shed. Backyard overlooks rural country setting with western sunset views! Immediate Possession! Estate Sale Property, selling as-is.

ⓘ 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: $402 · $34/mo
• Projected year-2 tax: $494 · $41/mo
• Expected delta: +$92/yr (+$8/mo · 22.9%)

ⓘ 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 · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $14,611
• − Mortgage interest: −$3,865
• − Property taxes: −$402
• − Insurance: −$345
• − Repairs & maintenance: −$1,169
• − Management: −$1,169
• − Depreciation: −$2,007
• Taxable income: $5,654
• Est. tax owed @ 24.0%: −$1,357
• After-tax cash flow: $5,097/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: Marion Community Schools
• NCES district ID: 1806390
• Math proficiency: 18% ▼ -9.00%
• Reading proficiency: 24% ▼ -6.00%
• Median HH income: $33,415
• Composite: 17.13/100
• National rank: #9115
• State rank: #277 of 301 in IN

Livability — Marion

• Score: 65/100
• State rank: #337
• US rank: #13006

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Marion, IN
• County: Grant County · 41,561 people
• City population: 41,561
• Metro: Marion, IN
• Population (ZIP): 23,372
• Household income: $46,288
• Rent vs Own: 32.2% rent · 67.8% own
• Severe rent burden: 597.0

Population outlook (Grant County) Hauer SSP2

• Today (2025): 64,394 people
• By 2030: 62,145 · -3.5%
• By 2040: 57,252 · -11.1%
• By 2050: 52,968 · -17.7%
• By 2075: 45,986 · -28.6%
• By 2100: 39,400 · -38.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (77%)
• Race & ethnicity: White 77% Black 10% Two or more races 9% Hispanic / Latino 6%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Italian 3% Iranian 1% Slovak 1%
• Foreign-born: 2% · Canada
• Languages at home: 96% English-only · Spanish 3%

Political lean MEDSL · Grant

• 2024 margin: Solid R (+41.8) · D 28.2% · R 70.0% · Other 1.9%
• 2008→2024 swing: -28.7pp toward R · 2008: -13.1pp · 2024: -41.8pp
• All cycles: 2024: R+41.8 2020: R+38.8 2016: R+39.5 2012: R+22.0 2008: R+13.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -52.47%
• Current HPI: 171.7246
• Rent YoY: —
• Metro: Marion, 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

-1.3% since first listed

4 events — show timeline

• 2026-05-16 Listed $69,000 IRMLS
• 2023-10-06 Sold (MLS) $68,000 IRMLS
• 2023-09-29 Contingent — IRMLS
• 2023-09-25 Listed $69,900 IRMLS

Property tax history

-1.4%/yr

Latest (2025): $402 · -14.5% YoY. Source: county tax records.