1930 N Harding St · Indianapolis city (balance), IN 46202

$69,999

3 bd · 1.0 ba · 936 sqft · SingleFamily public records · 1 Days on market

Built 1925 5,619 sqft lot

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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
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Rent growth +2.4/5.0
• Schools +1.4/10.0
• Appreciation +0.0/10.0

Listing remarks

Discover a charming single-family residence, built in 1925, offering 936 square feet of inviting living space at 1930 N Harding St. This single-story home is ready for some love to make it your own or your next investment, featuring two comfortable bedrooms alongside a well-appointed full bathroom that serves the home's needs. Thoughtfully designed for ease of living, the layout also includes a nice basement packed with potential for extra storage, a workshop, or future finishing. Situated on a nice-sized lot offering ample outdoor potential for gardening or entertaining, this delightful property invites you to immerse yourself in its possibilities

Key facts

• Nice basement
• 5,619 sq ft lot
• Built 1925

Tags

• SINGLE FAMILY RESIDENCE
• INVITING LIVING SPACE
• WELL APPOINTED FULL BATHROOM
• NICE BASEMENT
• AMPLE OUTDOOR POTENTIAL

Property features AI

Exterior

• Parking: No garage (detached parking available)
• Utilities: Public water; Municipal sewer connected; City solid waste service
• Home design: Single-family residence; One level
• Construction: Concrete perimeter foundation; Other construction materials
• Exterior features: Storage shed; Lot under 1/4 acre (0.13 acres)

Interior

• Kitchen: Electric oven
• Bedrooms: Two bedrooms on the main level
• Bathrooms: One full bathroom on the main level
• Heating & cooling: No heating; No cooling
• Interior features: Attic stairway; Unfinished basement

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $70k.

Deal economics

• At list price, monthly cash flow is $476 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $70k).
• Cap rate 14.5% 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 soft (-0.4%/yr); 262 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); 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 $484 of loan paydown is wiped out by about $2k 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 + 0.0% rent growth), your $20k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: property tax is 3.7% of price; built in 1925 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $69,999

Questions for the listing agent

1. Built in 1925 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 1.97% ✓
• Cap rate: 14.46%
• Cash-on-cash: 29.17%
• DSCR: 2.30
• GRM: 4.2

CMA / ARV

• ARV (on-the-fly): $198,432
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2126 White Ave	0.24mi	3/1.0	920 (-2%)	18mo	$133,000	$145	71
1802 Sugar Grove Ave	0.22mi	3/1.0	1,008 (+8%)	11mo	$135,000	$134	68
1835 Koehne St	0.13mi	2/1.0 (-1)	1,066 (+14%)	2mo	$130,000	$122	64
2041 N Dexter St	0.13mi	3/2.0	1,050 (+12%)	10mo	$227,500	$217	61
2193 N Dexter St	0.27mi	3/2.0	1,050 (+12%)	14mo	$225,000	$214	52
2023 Gent Ave	0.27mi	2/1.5 (-1)	875 (-6%)	23mo	$179,750	$205	51
2171 Sugar Grove Ave	0.26mi	3/2.0	1,050 (+12%)	16mo	$225,000	$214	50
2189 N Dexter St	0.26mi	3/2.0	1,050 (+12%)	16mo	$225,000	$214	50
2142 Gent Ave	0.31mi	3/2.0	1,057 (+13%)	15mo	$200,000	$189	48
2145 Sugar Grove Ave	0.24mi	3/2.0	1,050 (+12%)	21mo	$222,500	$212	47
2131 Sugar Grove Ave	0.22mi	3/2.0	1,050 (+12%)	24mo	$222,500	$212	46
1309 W 26th St	0.67mi	3/2.0	1,050 (+12%)	1mo	$210,000	$200	44

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 · 0.0% rent growth · sell at horizon

5-year hold

• IRR: 19.7%
• Equity multiple: 1.77×
• Total profit: $15,063
• Equity at exit: $10,437

10-year hold

• IRR: 25.6%
• Equity multiple: 2.89×
• Total profit: $36,990
• Equity at exit: $6,052

Cash invested: $19,600 (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 46202

• Home prices YoY: -26.2%
• Rents YoY: -0.4%
• Active inventory: 262
• Price-to-rent: 4.2×

Monthly cashflow live

• Estimated rent: $1,378 high
• Mortgage (P&I): −$367
• Tax from tax record: −$216 /mo · $2,588/yr
• Insurance: −$29
• HOA: −$0
• Vacancy / Maint / Mgmt: −$289
• Net cashflow: $476

Break-even live

Break-even rent $775

Max offer price $69,999

Occupancy floor 60%

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: $17,500
• Closing costs: $2,100
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1228 W 18th St Indianapolis, IN	2.0	1.0	1050	$1,200	$1.14	43d	1	0.27mi
1415 W Pruitt St Indianapolis, IN	3.0	1.0	1001	$1,249	$1.25	23d	1	0.29mi
1367 W Pruitt St Indianapolis, IN	3.0	1.0	1088	$1,450	$1.33	43d	1	0.31mi
2248 N Harding St Indianapolis, IN	2.0	1.0	1100	$899	$0.82	23d	1	0.34mi
1410 Breedlove Ln Indianapolis, IN	2.0	1.0–2.0	886	$2,557	$2.88	1d	63	0.55mi
1244 Edgemont Ave Indianapolis, IN	2.0	1.0	1092	$1,275	$1.17	43d	1	0.58mi
1201 Indiana Ave Indianapolis, IN	1.0–3.0	1.0–3.5	967	$2,404	$2.49	1d	36	0.75mi
970 Edgemont Ave Indianapolis, IN	2.0	1.0	740	$845	$1.14	4d	1	0.79mi
1150 N White River Pkwy West Dr Indianapolis, IN	1.0–2.0	1.0	722	$1,224	$1.69	1d	9	0.79mi
1319 W 27th St Indianapolis, IN	2.0	1.0	651	$900	$1.38	12d	1	0.79mi
908 Burdsal Pkwy Marion, IN	2.0	1.0	936	$1,300	$1.39	23d	1	0.81mi
906 Burdsal Pkwy Indianapolis, IN	2.0	1.0	936	$1,295	$1.38	23d	1	0.81mi
2106 Cold Spring Rd Indianapolis, IN	2.0	1.0–1.5	940	$1,189	$1.26	2d	4	0.85mi
1519 W 28th St Indianapolis, IN	2.0	1.0	816	$895	$1.10	43d	1	0.85mi
1457 W 29th St Indianapolis, IN	2.0	1.0	686	$995	$1.45	20d	1	0.96mi
2701 W 17th St Indianapolis, IN	2.0	1.0	810	$899	$1.11	7d	1	1.00mi
1227 W 29th St Indianapolis, IN	3.0	1.5	1056	$1,250	$1.18	23d	1	1.00mi
2602 Mansion Dr Indianapolis, IN	2.0–3.0	2.0	1850	$1,675	$0.91	7d	6	1.04mi
2235 Doctor Martin Luther King Junior St Indianapolis, IN	3.0	1.5	948	$1,700	$1.79	43d	1	1.06mi
1441 W Lynn Dr Indianapolis, IN	3.0	2.0	967	$1,550	$1.60	43d	1	1.07mi
524 W 23rd St Indianapolis, IN	2.0	1.0	664	$949	$1.43	43d	1	1.09mi
930 W 10th St Indianapolis, IN	1.0–4.0	1.0–4.0	874	$3,144	$3.59	4d	1	1.10mi
1409 N Warman Ave Indianapolis, IN	2.0	1.0	816	$1,300	$1.59	20d	1	1.10mi
1155 N Holmes Ave Indianapolis, IN	3.0	1.0	952	$2,800	$2.94	2d	1	1.14mi
735 W 11th St Indianapolis, IN	2.0	1.0	712	$1,398	$1.96	43d	1	1.18mi
1401 Doctor Martin Luther King Junior St Indianapolis, IN	1.0–2.0	1.0	982	$1,875	$1.91	13d	1	1.20mi
2011 N Kessler Boulevard Dr Indianapolis, IN	3.0	1.0	888	$1,375	$1.55	23d	1	1.21mi
1226 Doctor Martin Luther King Junior St Indianapolis, IN	1.0–3.0	1.0–3.5	1067	$2,285	$2.14	1d	10	1.23mi
1261 W 32nd St Indianapolis, IN	2.0	1.0	832	$975	$1.17	43d	1	1.31mi
1470 W 32nd St Indianapolis, IN	2.0	1.0	700	$1,000	$1.43	43d	1	1.34mi
516 W 28th St Indianapolis, IN	2.0	1.0	1005	$1,100	$1.09	23d	1	1.35mi
460 N White River Parkway Dr W Indianapolis, IN	2.0	1.0	681	$1,725	$2.53	2d	14	1.35mi
525 N Belmont Ave Indianapolis, IN	3.0	1.0	912	$1,225	$1.34	23d	1	1.36mi
2365 N Goodlet Ave Indianapolis, IN	3.0	1.5	900	$1,099	$1.22	23d	1	1.38mi
3014 W 10th St Indianapolis, IN	2.0	1.0	850	$749	$0.88	43d	1	1.44mi
3014 W 10th St Unit 1 Indianapolis, IN	2.0	1.0	850	$749	$0.88	23d	1	1.44mi
1911 Wilcox St Indianapolis, IN	2.0	1.0	896	$1,150	$1.28	43d	1	1.45mi
926 W 32nd St Indianapolis, IN	3.0	2.0	1050	$1,295	$1.23	7d	1	1.47mi
2418 N Centennial St Indianapolis, IN	2.0	1.0	725	$1,099	$1.52	43d	1	1.47mi
771 Haugh St Indianapolis, IN	2.0	1.0	714	$1,250	$1.75	19d	1	1.49mi

Listing history 2 events

1. 2026-06-18
   remarks 656-char remark
2. 2026-06-18
   listed $69,999 Active 1 DOM

ⓘ 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: $2,588 · $216/mo
• Projected year-2 tax: $2,588 · $216/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 4/10 Moderate 7 d/yr ≥102°F today · 19 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 0% 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: $16,531
• − Mortgage interest: −$3,921
• − Property taxes: −$2,588
• − Insurance: −$350
• − Repairs & maintenance: −$1,323
• − Management: −$1,323
• − Depreciation: −$2,036
• Taxable income: $4,991
• Est. tax owed @ 24.0%: −$1,198
• After-tax cash flow: $4,519/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): 20,180
• Household income: $63,506
• Rent vs Own: 70.6% rent · 29.4% own
• Severe rent burden: 1829.0

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 0.57)
• Race & ethnicity: White 62% Black 20% Hispanic / Latino 8% Asian 6% Two or more races 5%
• Hispanic origin (detail): Mexican 5%
• Common ancestry: Italian 4% Romanian 3% Slovak 3%
• Foreign-born: 11% · Canada, China
• Languages at home: 86% English-only · Spanish 6% Other Indo-European 3% Arabic 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: ▼ -136.75%
• Current HPI: 385.5518
• Rent YoY: ▼ -0.37%
• 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

1 event — show timeline

• 2026-06-18 Listed $69,999 MIBOR as Distributed by MLS Grid

Property tax history

+48.2%/yr

Latest (2025): $2,588 · +22.8% YoY. Source: county tax records.