None · Indianapolis city (balance), IN 46208

$139,000

2 bd · 4.0 ba · 624 sqft · MultiFamily public records · 64 Days on market

Built 1925 5,271 sqft lot $223/sqft · 114% above area Est $130k · 7% over

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Why this score? — see what drove the C+ 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 +29.8/30.0
• DSCR +10.0/10.0
• 1% rule +8.3/10.0
• ARV discount +4.3/15.0
• Rent growth +4.1/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.4/10.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks MLS

**A WORTHWHILE INVESTMENT** An enduring structure awaits consideration at 1310 W 35th ST in INDIANAPOLIS, IN, USA. The substantial 1250 square feet of living area provides ample room for comfortable daily routines and personal expression. This generous interior expanse offers a canvas for creating distinct zones that cater to individual preferences and pursuits. Beyond the interior, an expansive 5271 square feet of lot area offers considerable outdoor potential, inviting the creation of serene gardens. This significant exterior space provides opportunities for various outdoor endeavors, enhancing the overall living experience. Constructed in 1925, this single-story duplex embodies a design from a distinguished era, offering the ease of single-level living throughout its well-defined spaces. As a duplex, the property inherently offers versatile living arrangements, presenting opportunities for flexible use or potential income generation. Envision a lifestyle where the established character of this 1925 duplex, combined with its generous living and outdoor spaces, provides a foundation for diverse aspirations. TENANT OCCUPIED = DO NOT DISTRUB TENANTS

Key facts

• Single story duplex
• Expansive lot area
• 5,271 sq ft lot

Tags

• SUBSTANTIAL LIVING AREA
• EXPANSIVE LOT AREA
• SINGLE STORY DUPLEX
• VERSATILE LIVING ARRANGEMENTS

What this means for you Summary

Snapshot

• This is a 2 × 1-bed/2.0-bath units multifamily listed at $139k.

Deal economics

• At list price, monthly cash flow is $511 ($6k/yr) — positive. Per door: $255/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $139k).
• Recommended offer: $131k (6.0% below list) — sets the bar for market timing.
• Cap rate 10.7% 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 C — 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 fast (+6.4%/yr); 283 active listings in the ZIP; 14 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 43% 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).
• This rent runs 37% of the median local income ($60k/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 $961 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.
• At projected returns (-3.0% appreciation + 6.4% rent growth), your $39k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 64 days — a 6% lower offer ($131k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 4y 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.
• Current owner paid $100k; 39% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1925 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $130,659 (6.0% below list)

Questions for the listing agent

1. It's been on market 64 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1925 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.33% ✓
• Cap rate: 10.70%
• Cash-on-cash: 15.75%
• DSCR: 1.70
• GRM: 6.2

CMA / ARV

• ARV (median comp): $129,789
• List price: $139,000
• Delta: 7.10%
• Verdict: FAIR
• Comps: 10 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 6.43% rent growth · sell at horizon

5-year hold

• IRR: 10.4%
• Equity multiple: 1.43×
• Total profit: $16,647
• Equity at exit: $20,725

10-year hold

• IRR: 22.1%
• Equity multiple: 3.20×
• Total profit: $85,625
• Equity at exit: $12,018

Cash invested: $38,920 (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 46208

• Rents YoY: 6.4%
• Active inventory: 283
• Price-to-rent: 12.5×

Monthly cashflow live

• Estimated rent: $1,854 medium
• Mortgage (P&I): −$729
• Tax from tax record: −$167 /mo · $2,005/yr
• Insurance: −$58
• HOA: −$0
• Vacancy / Maint / Mgmt: −$389
• Net cashflow: $511

Break-even live

Break-even rent $1,207

Max offer price $139,000

Occupancy floor 67%

Sensitivity live

Price	-10% $589	-5% $550	+0% $511	+5% $471	+10% $432
Rent	-10% $364	-5% $438	+0% $511	+5% $584	+10% $657
Rate	-1.0pp $581	-0.5pp $546	base $511	+0.5pp $475	+1.0pp $438

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	1	2	$1,854
Total (2 units)			$1,854

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: $34,750
• Closing costs: $4,170
• Reserves months: —
• Total cash needed: —

Rent comps 14 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1470 W 32nd St Indianapolis, IN	2.0	1.0	700	$1,000	$1.43	45d	1	0.31mi
1460 W 32nd St Indianapolis, IN	1.0	1.0	576	$847	$1.47	25d	1	0.31mi
1341 W Congress Ave Unit 1343 Indianapolis, IN	1.0	1.0	600	$750	$1.25	45d	1	0.36mi
1457 W 29th St Indianapolis, IN	2.0	1.0	686	$995	$1.45	21d	1	0.65mi
1319 W 27th St Indianapolis, IN	2.0	1.0	651	$900	$1.38	13d	1	0.81mi
541 W 29th St Indianapolis, IN	1.0	1.0	740	$900	$1.22	21d	1	1.07mi
970 Edgemont Ave Indianapolis, IN	2.0	1.0	740	$845	$1.14	5d	1	1.12mi
4023 Clarendon Rd Indianapolis, IN	1.0	1.0	572	$950	$1.66	45d	1	1.15mi
2937 Shriver Ave Indianapolis, IN	1.0	1.0	564	$850	$1.51	45d	1	1.22mi
819 Edgemont Ave Apt 115 Indianapolis, IN	1.0	1.0	540	$915	$1.69	45d	1	1.26mi
3413 N Capitol Ave Indianapolis, IN	3.0	1.0	588	$1,299	$2.21	25d	1	1.32mi
4031 Boulevard Pl Indianapolis, IN	1.0	1.0	700	$895	$1.28	21d	1	1.45mi
2818 N Capitol Ave Apt 1 Indianapolis, IN	1.0	1.0	600	$2,000	$3.33	45d	1	1.46mi
2937 N Kenwood Ave Unit A Indianapolis, IN	1.0	1.0	672	$889	$1.32	23d	1	1.48mi

Listing history 9 events

1. 2026-06-03
   days on market $139,000 Active 64 DOM
2. 2026-06-02
   days on market $139,000 Active 63 DOM
3. 2026-06-01
   days on market $139,000 Active 62 DOM
4. 2026-05-31
   days on market $139,000 Active 61 DOM
5. 2026-03-23
   listed $139,000 Active 1172-char remark

   Show marketing remark (1172 chars)

   **A WORTHWHILE INVESTMENT** An enduring structure awaits consideration at 1310 W 35th ST in INDIANAPOLIS, IN, USA. The substantial 1250 square feet of living area provides ample room for comfortable daily routines and personal expression. This generous interior expanse offers a canvas for creating distinct zones that cater to individual preferences and pursuits. Beyond the interior, an expansive 5271 square feet of lot area offers considerable outdoor potential, inviting the creation of serene gardens. This significant exterior space provides opportunities for various outdoor endeavors, enhancing the overall living experience. Constructed in 1925, this single-story duplex embodies a design from a distinguished era, offering the ease of single-level living throughout its well-defined spaces. As a duplex, the property inherently offers versatile living arrangements, presenting opportunities for flexible use or potential income generation. Envision a lifestyle where the established character of this 1925 duplex, combined with its generous living and outdoor spaces, provides a foundation for diverse aspirations. TENANT OCCUPIED = DO NOT DISTRUB TENANTS

6. 2025-04-04
   soldstatus $100,000
7. 2022-09-16
   soldstatus $85,000 Closed 291-char remark

   Show marketing remark (291 chars)

   Charming Duplex, with one bath and one bedroom with a basement on each side. This move in ready Duplex is located near Butler Tarkington area, where there are numerous places to dine, minutes from I65, the Fairgrounds and downtown. This is an investor's dream, don't miss out on this one!

8. 2022-08-23
   status Pending 291-char remark

   Show marketing remark (291 chars)

   Charming Duplex, with one bath and one bedroom with a basement on each side. This move in ready Duplex is located near Butler Tarkington area, where there are numerous places to dine, minutes from I65, the Fairgrounds and downtown. This is an investor's dream, don't miss out on this one!

9. 2022-08-11
   listed $100,000 Active 291-char remark

   Show marketing remark (291 chars)

   Charming Duplex, with one bath and one bedroom with a basement on each side. This move in ready Duplex is located near Butler Tarkington area, where there are numerous places to dine, minutes from I65, the Fairgrounds and downtown. This is an investor's dream, don't miss out on this one!

ⓘ 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: $2,005 · $167/mo
• Projected year-2 tax: $2,005 · $167/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 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: $22,248
• − Mortgage interest: −$7,786
• − Property taxes: −$2,005
• − Insurance: −$695
• − Repairs & maintenance: −$1,780
• − Management: −$1,780
• − Depreciation: −$4,044
• Taxable income: $4,159
• Est. tax owed @ 24.0%: −$998
• After-tax cash flow: $5,131/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): 22,379
• Household income: $60,062
• Rent vs Own: 44.1% rent · 55.9% own
• Severe rent burden: 978.0

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 0.62)
• Race & ethnicity: White 46% Black 40% Hispanic / Latino 8% Two or more races 6% Asian 2%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Romanian 2% Slovak 2% Italian 1%
• Foreign-born: 4% · Canada
• Languages at home: 93% English-only · Spanish 5% French/Haitian/Cajun 1% Other Indo-European 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: ▼ -324.63%
• Current HPI: 319.7725
• Rent YoY: ▲ 6.43%
• 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

+39.0% since first listed

5 events — show timeline

• 2026-03-23 Listed $139,000 MIBOR as Distributed by MLS Grid
• 2025-04-04 Sold (Public Records) $100,000 Public Records
• 2022-09-16 Sold (MLS) $85,000 MIBOR as Distributed by MLS Grid
• 2022-08-23 Pending — MIBOR as Distributed by MLS Grid
• 2022-08-11 Listed $100,000 MIBOR as Distributed by MLS Grid

Property tax history

+11.5%/yr

Latest (2025): $2,005 · -8.2% YoY. Source: county tax records.