2429 Guilford Ave · Indianapolis city (balance), IN 46205

$275,000

6 bd · 4.0 ba · 2,574 sqft · MultiFamily public records · 3 Days on market

Built 1915 6,534 sqft lot Est $291k · 5% under

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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 +28.9/30.0
• DSCR +10.0/10.0
• ARV discount +10.0/15.0
• 1% rule +8.4/10.0
• 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

Large duplex in an area of rehab. 3 bedrooms per side to maximize rent potential. Home is in need of updates & repairs. Bank-owned & offered in as-is condition. Pre-approval or proof of funds required with all offers. E arnest money to be $1000.

Key facts

• Functional layout
• Steady rental income
• Conveniently located

Tags

• STRONG INVESTMENT POTENTIAL
• FUNCTIONAL LAYOUT
• COMFORTABLE LIVING SPACE
• CONVENIENTLY LOCATED
• STEADY RENTAL INCOME
• DESIRABLE AREA

Property features AI

Finance

• Financial info: Two units; Gross monthly income reported as $2,600; Each unit listed with monthly rent of $1,300

Exterior

• Utilities: No solid waste service listed
• Home design: Residential income property; Duplex
• Exterior features: Less than 1/4 acre lot; Access road

Interior

• Kitchen: Kitchen in each unit
• Interior features: Basement present

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/2.0-bath units multifamily listed at $275k.

Deal economics

• At list price, monthly cash flow is $932 ($11k/yr) — positive. Per door: $466/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $275k).
• Cap rate 10.4% 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 fast (+6.2%/yr); 314 active listings in the ZIP; 1,906 units permitted in Marion County in 2024 (621 in 5+ unit buildings).
• At $3,690/mo this rent would consume 61% of the median local household income ($72k/yr) (locally 1149% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $8k 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 + 6.2% rent growth), your $77k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 20y 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 $14k; list at $275k implies a 1797% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1915 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $275,000

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1915 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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 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: 1.34% ✓
• Cap rate: 10.36%
• Cash-on-cash: 14.52%
• DSCR: 1.65
• GRM: 6.2

CMA / ARV

• ARV (on-the-fly): $290,862
• Comps found: 9

Show comp detail 9 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2429 Guilford Ave	0.00mi	6/4.0	2,574 (0%)	0mo	$235,000	$91	100
2707-2709 N College Ave	0.28mi	6/4.0	2,648 (+3%)	10mo	$210,000	$79	73
2519 N College Ave	0.17mi	6/5.0	2,832 (+10%)	8mo	$471,000	$166	64
2626-2628 Carrollton Ave	0.21mi	6/2.0	2,760 (+7%)	11mo	$170,000	$62	61
716 E 27th St	0.27mi	6/6.0	2,832 (+10%)	12mo	$390,000	$138	52
2939 N Park Ave	0.59mi	6/4.0	2,470 (-4%)	16mo	$480,000	$194	52
2701 Schofield Ave	0.68mi	6/3.0	2,508 (-3%)	18mo	$133,000	$53	45
3106 N College Ave	0.73mi	6/3.0	2,868 (+11%)	3mo	$325,000	$113	40
2907 N New Jersey St	0.64mi	6/3.0	2,766 (+8%)	18mo	$358,000	$129	38

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 · 6.21% rent growth · sell at horizon

5-year hold

• IRR: 8.7%
• Equity multiple: 1.35×
• Total profit: $27,185
• Equity at exit: $41,003

10-year hold

• IRR: 20.5%
• Equity multiple: 3.01×
• Total profit: $154,435
• Equity at exit: $23,777

Cash invested: $77,000 (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 46205

• Rents YoY: 6.2%
• Active inventory: 314
• Price-to-rent: 12.4×

Monthly cashflow live

• Estimated rent: $3,690 high
• Mortgage (P&I): −$1,442
• Tax from tax record: −$427 /mo · $5,120/yr
• Insurance: −$115
• HOA: −$0
• Vacancy / Maint / Mgmt: −$775
• Net cashflow: $932

Break-even live

Break-even rent $2,511

Max offer price $275,000

Occupancy floor 70%

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	2	$3,690
Total (2 units)			$3,690

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: $68,750
• Closing costs: $8,250
• Reserves months: —
• Total cash needed: —

Listing history 6 events

1. 2026-05-15
   status Pending
2. 2026-05-08
   listed $275,000 Active
3. 2007-12-11
   soldstatus $14,500 253-char remark

   Show marketing remark (253 chars)

   Large duplex in an area of rehab. 3 bedrooms per side to maximize rent potential. Home is in need of updates & repairs. Bank-owned & offered in as-is condition. Pre-approval or proof of funds required with all offers. E arnest money to be $1000.

4. 2007-06-14
   listed $17,900 253-char remark

   Show marketing remark (253 chars)

   Large duplex in an area of rehab. 3 bedrooms per side to maximize rent potential. Home is in need of updates & repairs. Bank-owned & offered in as-is condition. Pre-approval or proof of funds required with all offers. E arnest money to be $1000.

5. 2007-02-01
   historical
6. 2006-08-12
   listed $49,900

ⓘ 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: $5,120 · $427/mo
• Projected year-2 tax: $5,120 · $427/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 ≥101°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: $44,280
• − Mortgage interest: −$15,404
• − Property taxes: −$5,120
• − Insurance: −$1,375
• − Repairs & maintenance: −$3,542
• − Management: −$3,542
• − Depreciation: −$8,000
• Taxable income: $7,295
• Est. tax owed @ 24.0%: −$1,751
• After-tax cash flow: $9,429/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): 28,259
• Household income: $72,417
• Rent vs Own: 46.3% rent · 53.7% own
• Severe rent burden: 1149.0

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 0.64)
• Race & ethnicity: White 50% Black 32% Two or more races 10% Hispanic / Latino 7% Asian 3%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Italian 3% Slovak 2% Romanian 2%
• Foreign-born: 5% · Canada
• Languages at home: 89% English-only · Spanish 6% Other Indo-European 2% German/W. Germanic 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: ▼ -322.77%
• Current HPI: 380.5407
• Rent YoY: ▲ 6.21%
• 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

+451.1% since first listed

6 events — show timeline

• 2026-05-15 Pending — MIBOR as Distributed by MLS Grid
• 2026-05-08 Listed $275,000 MIBOR as Distributed by MLS Grid
• 2007-12-11 Sold (MLS) $14,500 MIBOR as Distributed by MLS Grid
• 2007-06-14 Listed $17,900 MIBOR as Distributed by MLS Grid
• 2007-02-01 Listing Removed — MIBOR as Distributed by MLS Grid
• 2006-08-12 Listed $49,900 MIBOR as Distributed by MLS Grid

Property tax history

+13.3%/yr

Latest (2025): $5,120 · +28.4% YoY. Source: county tax records.