5320 E Burgess Ave · Indianapolis city (balance), IN 46219

$90,000

4 bd · 1.0 ba · 2,156 sqft · SingleFamily public records · 46 Days on market

Built 1910 6,186 sqft lot $42/sqft · 57% below area

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• 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

Listing remarks MLS

ATTENTION INVESTORS! Check out this 2 story home on the southside of Irvington! Has been a steady rental for numerous years- ready for a "refresh" to rent it out again - OR - a nice remodel to sell for a profit! 3 bedrooms, 2 baths, nice front porch!

Key facts

• Fully gutted
• Ready for renovation
• Blank canvas

Tags

• HISTORIC IRVINGTON DISTRICT
• FULLY GUTTED
• READY FOR RENOVATION
• BLANK CANVAS

Property features AI

Exterior

• Parking: Assigned outdoor parking
• Utilities: Public water; Municipal sewer connection; Solid waste service available
• Home design: Single family residence; One-and-a-half to two levels
• Construction: Vinyl siding; Block foundation and crawl space
• Exterior features: Covered patio/porch; Mature trees on the lot; Has a view

Interior

• Kitchen: Eat-in kitchen
• Bedrooms: Four bedrooms total (one on the main level, three on the upper level)
• Bathrooms: Two full bathrooms (one on the main level, one on the upper level)
• Heating & cooling: No heating system listed; No cooling system listed
• Interior features: Attic access; Built-in features; High ceilings; Painted woodwork; Eat-in kitchen

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $90k.

Deal economics

• At list price, monthly cash flow is $377 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $90k).
• Recommended offer: $87k (3.0% below list) — sets the bar for market timing.
• Cap rate 11.3% 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 (+2.6%/yr); 140 active listings in the ZIP; 13 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 69% 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).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $622 of loan paydown is wiped out by about $3k 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 + 2.6% rent growth), your $25k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 46 days — a 3% lower offer ($87k) is reasonable based on typical stale-listing flexibility.
• 9 sale attempts since 25y ago; this cycle's ask has dropped $5k (5%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $35k; list at $90k implies a 157% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 4.0% of price; built in 1910 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $87,300 (3.0% below list)

Questions for the listing agent

1. It's been on market 46 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 1910 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 1.67% ✓
• Cap rate: 11.32%
• Cash-on-cash: 17.94%
• DSCR: 1.80
• GRM: 5.0

CMA / ARV

• ARV (median comp): $233,800
• List price: $90,000
• Delta: -61.51%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
119 S Hawthorne Ln	0.34mi	4/2.0	1,928 (-11%)	4mo	$122,500	$64	59
717 S Dequincy St	0.57mi	3/2.0 (-1)	2,220 (+3%)	2mo	$220,000	$99	57
27 N Hawthorne Ln	0.55mi	4/1.5	2,346 (+9%)	2mo	$310,000	$132	56
5511 E University Ave	0.35mi	4/2.5	2,442 (+13%)	3mo	$333,000	$136	53
5959 Beechwood Ave	0.75mi	3/2.0 (-1)	2,184 (+1%)	7mo	$125,000	$57	48
325 N Bancroft St	0.73mi	4/2.0	2,317 (+8%)	2mo	$252,500	$109	48
25 N Riley Ave	0.63mi	3/1.0 (-1)	2,000 (-7%)	7mo	$212,000	$106	47
5120 E Pleasant Run Parkway North Dr	0.66mi	3/1.5 (-1)	2,414 (+12%)	1mo	$288,000	$119	41
5322 Lowell Ave	0.69mi	3/2.0 (-1)	2,354 (+9%)	4mo	$299,000	$127	40
309 N Riley Ave	0.74mi	3/2.0 (-1)	2,042 (-5%)	10mo	$190,000	$93	40
5110 E Pleasant Run Parkway North Dr	0.67mi	3/1.5 (-1)	2,428 (+13%)	4mo	$320,000	$132	38
124 Johnson Ave	0.48mi	3/2.0 (-1)	2,476 (+15%)	8mo	$260,750	$105	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 · 2.63% rent growth · sell at horizon

5-year hold

• IRR: 9.1%
• Equity multiple: 1.36×
• Total profit: $8,995
• Equity at exit: $13,419

10-year hold

• IRR: 18.0%
• Equity multiple: 2.47×
• Total profit: $37,027
• Equity at exit: $7,782

Cash invested: $25,200 (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 46219

• Rents YoY: 2.6%
• Active inventory: 140
• Price-to-rent: 5.0×

Monthly cashflow live

• Estimated rent: $1,505 high
• Mortgage (P&I): −$472
• Tax from tax record: −$302 /mo · $3,628/yr
• Insurance: −$38
• HOA: −$0
• Vacancy / Maint / Mgmt: −$316
• Net cashflow: $377

Break-even live

Break-even rent $1,028

Max offer price $90,000

Occupancy floor 70%

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: $22,500
• Closing costs: $2,700
• Reserves months: —
• Total cash needed: —

Rent comps 13 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5010 Brookville Rd Indianapolis, IN	3.0	2.0	1656	$1,350	$0.82	7d	1	0.28mi
117 N Riley Ave Indianapolis, IN	3.0	3.0	1664	$1,600	$0.96	20d	1	0.70mi
4318 Spann Ave Indianapolis, IN	3.0	1.0	1411	$1,200	$0.85	44d	1	0.83mi
21 N Colorado Ave Indianapolis, IN	3.0	1.5	1520	$2,000	$1.32	44d	1	0.98mi
323 N Gladstone Ave Indianapolis, IN	3.0	2.0	2580	$1,285	$0.50	44d	1	1.13mi
325 N Gladstone Ave Indianapolis, IN	3.0	2.0	2580	$1,285	$0.50	44d	1	1.13mi
119 N Grant Ave Indianapolis, IN	3.0	1.0	1408	$1,195	$0.85	44d	1	1.14mi
5015 Reeder St Indianapolis, IN	3.0	2.0	1482	$1,950	$1.32	44d	1	1.17mi
642 N Colorado Ave Indianapolis, IN	3.0	2.0	1572	$1,450	$0.92	44d	1	1.28mi
5414 E 10th St Indianapolis, IN	3.0	2.0	2322	$1,850	$0.80	18d	1	1.32mi
801 N Gladstone Ave Indianapolis, IN	3.0	1.5	1776	$1,225	$0.69	44d	1	1.35mi
4703 E Minnesota St Indianapolis, IN	4.0	1.5	1588	$1,695	$1.07	44d	1	1.36mi
3712 E Market St Indianapolis, IN	3.0	1.0	1800	$1,450	$0.81	15d	1	1.41mi

Listing history 33 events

1. 2026-06-18
   status $90,000 Pending 46 DOM
2. 2026-06-18
   days on market $90,000 Active 46 DOM
3. 2026-06-17
   days on market $90,000 Active 45 DOM
4. 2026-06-16
   days on market $90,000 Active 44 DOM
5. 2026-06-15
   days on market $90,000 Active 43 DOM
6. 2026-06-13
   days on market $90,000 Active 41 DOM
7. 2026-06-13
   days on market $90,000 Active 40 DOM
8. 2026-06-09
   days on market $90,000 Active 37 DOM
9. 2026-06-08
   days on market $90,000 Active 36 DOM
10. 2026-06-07
    days on market $90,000 Active 35 DOM
11. 2026-06-03
    days on market $90,000 Active 31 DOM
12. 2026-06-02
    days on market $90,000 Active 30 DOM
13. 2026-06-01
    days on market $90,000 Active 29 DOM
14. 2026-05-31
    days on market $90,000 Active 28 DOM
15. 2026-05-03
    listed $95,000 Active 458-char remark
16. 2019-05-29
    soldstatus $35,000 Sold 261-char remark

    Show marketing remark (261 chars)

    ATTENTION INVESTORS! Check out this 2 story home on the southside of Irvington! Has been a steady rental for numerous years- ready for a "refresh" to rent it out again - OR - a nice remodel to sell for a profit! 3 bedrooms, 2 baths, nice front porch!

17. 2019-05-03
    status Pending 261-char remark

    Show marketing remark (261 chars)

    ATTENTION INVESTORS! Check out this 2 story home on the southside of Irvington! Has been a steady rental for numerous years- ready for a "refresh" to rent it out again - OR - a nice remodel to sell for a profit! 3 bedrooms, 2 baths, nice front porch!

18. 2019-04-19
    listed $49,000 Active 261-char remark

    Show marketing remark (261 chars)

    ATTENTION INVESTORS! Check out this 2 story home on the southside of Irvington! Has been a steady rental for numerous years- ready for a "refresh" to rent it out again - OR - a nice remodel to sell for a profit! 3 bedrooms, 2 baths, nice front porch!

19. 2018-10-31
    historical
20. 2018-09-10
    status Active
21. 2018-08-03
    status Pending
22. 2018-07-12
    listed $55,000 Active
23. 2009-06-06
    historical
24. 2009-05-14
    soldstatus $20,000
25. 2009-02-07
    historical
26. 2009-02-02
    listed $29,900
27. 2008-06-24
    listed $39,900
28. 2005-10-31
    historical
29. 2005-04-21
    listed $100,000
30. 2004-01-13
    soldstatus $94,500
31. 2003-02-26
    listed $94,500
32. 2002-12-18
    soldstatus $23,000
33. 2001-10-10
    listed $36,900

ⓘ 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: $3,628 · $302/mo
• Projected year-2 tax: $3,628 · $302/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 ≥102°F today · 19 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: $18,054
• − Mortgage interest: −$5,041
• − Property taxes: −$3,628
• − Insurance: −$450
• − Repairs & maintenance: −$1,444
• − Management: −$1,444
• − Depreciation: −$2,618
• Taxable income: $3,428
• Est. tax owed @ 24.0%: −$823
• After-tax cash flow: $3,699/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): 38,855
• Household income: $60,803
• Rent vs Own: 41.0% rent · 59.0% own
• Severe rent burden: 2191.0

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 54% Black 22% Hispanic / Latino 18% Two or more races 9%
• Hispanic origin (detail): Mexican 10% Puerto Rican 1%
• Common ancestry: Slovak 2% Romanian 2% Lithuanian 2%
• Foreign-born: 10% · Canada
• Languages at home: 85% English-only · Spanish 14%

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: ▼ -199.69%
• Current HPI: 289.8788
• Rent YoY: ▲ 2.63%
• 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

+143.9% since first listed

21 events — show timeline

• 2026-06-18 Pending — MIBOR as Distributed by MLS Grid
• 2026-05-29 Price Changed $90,000 MIBOR as Distributed by MLS Grid
• 2026-05-03 Listed $95,000 MIBOR as Distributed by MLS Grid
• 2019-05-29 Sold (MLS) $35,000 MIBOR as Distributed by MLS Grid
• 2019-05-03 Pending — MIBOR as Distributed by MLS Grid
• 2019-04-19 Listed $49,000 MIBOR as Distributed by MLS Grid
• 2018-10-31 Listing Removed — MIBOR as Distributed by MLS Grid
• 2018-09-10 Relisted — MIBOR as Distributed by MLS Grid
• 2018-08-03 Pending — MIBOR as Distributed by MLS Grid
• 2018-07-12 Listed $55,000 MIBOR as Distributed by MLS Grid
• 2009-06-06 Listing Removed — MIBOR as Distributed by MLS Grid
• 2009-05-14 Sold (MLS) $20,000 MIBOR as Distributed by MLS Grid
• 2009-02-07 Listing Removed — MIBOR as Distributed by MLS Grid
• 2009-02-02 Listed $29,900 MIBOR as Distributed by MLS Grid
• 2008-06-24 Listed $39,900 MIBOR as Distributed by MLS Grid
• 2005-10-31 Listing Removed — MIBOR as Distributed by MLS Grid
• 2005-04-21 Listed $100,000 MIBOR as Distributed by MLS Grid
• 2004-01-13 Sold (MLS) $94,500 MIBOR as Distributed by MLS Grid
• 2003-02-26 Listed $94,500 MIBOR as Distributed by MLS Grid
• 2002-12-18 Sold (MLS) $23,000 MIBOR as Distributed by MLS Grid
• 2001-10-10 Listed $36,900 MIBOR as Distributed by MLS Grid

Property tax history

+17.2%/yr

Latest (2025): $3,628 · +28.4% YoY. Source: county tax records.