1444 N Denny St · Indianapolis city (balance), IN 46201

$165,000

1 bd · 4.0 ba · 528 sqft · MultiFamily public records · 37 Days on market

Built 1945 6,063 sqft lot $312/sqft · 296% above area Est $167k · at est.

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Why this score? — see what drove the D 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 +15.9/30.0
• ARV discount +7.9/15.0
• 1% rule +5.0/10.0
• DSCR +4.9/10.0
• Rent growth +4.3/5.0
• 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: 1 unit. estimate disagrees with records

Listing remarks MLS

Several updates just completed! Hardwoods throughout just totally refinished and look beautiful! Turnkey 1 bed 1 bath per side duplex with tons of updates. Property was updated in 2015 with new kitchens, bathrooms, tile floors, new furnaces, new water heaters, new appliances including washer and dryer in each unit. 2016 new vinyl siding and roof, 2022 new windows and gutters, 2023 new paint, refinished hardwood floors, new downspout extensions and several more updates!

Key facts

• Easy access
• Updated
• Laundry area

Tags

• INVESTMENT OPPORTUNITY
• UPDATED
• LAUNDRY AREA
• EASY ACCESS

Property features AI

Finance

• Other: Property type: Residential income (duplex)
• Financial info: Two-unit property; Owner pays insurance and taxes; Gross income reported as $800; Expenses reported as $0; Unit 1 rent: $850 per month; Unit 2 rent: $800 per month

Exterior

• Parking: On-street parking
• Utilities: Private sewer; Solid waste: no
• Home design: Duplex (residential income); One story
• Construction: Aluminum siding
• Exterior features: Sidewalks; Street cuts for road access

Interior

• Kitchen: Kitchen (10 x 11) in Unit 1; Kitchen (10 x 11) in Unit 2
• Bedrooms: Unit 2 is a 1-bedroom unit
• Heating & cooling: Central air; Forced heat (gas)
• Interior features: Central air; Basement
• Laundry & utility: Laundry connections in each unit; Hot water: gas; Heat: forced air (gas); Fuel: gas

What this means for you Summary

Snapshot

• This is a 1-bed/4.0-bath multifamily listed at $165k.

Deal economics

• At list price, monthly cash flow is $80 ($959/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $165k (0.2% below list).
• Recommended offer: $160k (3.0% below list) — sets the bar for market timing.
• Cap rate 6.9% 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 D — 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 (+7.3%/yr); 480 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).
• This rent runs 40% of the median local income ($49k/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 $1k of loan paydown is wiped out by about $5k 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.

Negotiation context

• It's been on market 37 days — a 3% lower offer ($160k) is reasonable based on typical stale-listing flexibility.
• 9 sale attempts since 25y 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.

Risks & watch-outs

• Watch-outs: built in 1945 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $160,050 (3.0% below list)

Questions for the listing agent

1. It's been on market 37 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 1945 — 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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 1.00% ✗
• Cap rate: 6.87%
• Cash-on-cash: 2.08%
• DSCR: 1.09
• GRM: 8.4

CMA / ARV

• ARV (median comp): $166,656
• List price: $165,000
• Delta: -0.99%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 7.31% rent growth · sell at horizon

5-year hold

• IRR: -7.9%
• Equity multiple: 0.69×
• Total profit: $-14,126
• Equity at exit: $24,602

10-year hold

• IRR: 6.7%
• Equity multiple: 1.61×
• Total profit: $27,962
• Equity at exit: $14,266

Cash invested: $46,200 (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 46201

• Home prices YoY: -33.9%
• Rents YoY: 7.3%
• Active inventory: 480
• Price-to-rent: 16.7×

Monthly cashflow live

• Estimated rent: $1,646 medium
• Mortgage (P&I): −$865
• Tax from tax record: −$286 /mo · $3,437/yr
• Insurance: −$69
• HOA: −$0
• Vacancy / Maint / Mgmt: −$346
• Net cashflow: $80

Break-even live

Break-even rent $1,545

Max offer price $165,000

Occupancy floor 90%

Sensitivity live

Price	-10% $173	-5% $127	+0% $80	+5% $33	+10% $-13
Rent	-10% $-50	-5% $15	+0% $80	+5% $145	+10% $210
Rate	-1.0pp $163	-0.5pp $122	base $80	+0.5pp $37	+1.0pp $-6

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

Units	Beds	Baths	Est. rent
▸ 2× units	1	1	$1,646
Total (2 units)			$1,646

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: $41,250
• Closing costs: $4,950
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1518 N Chester Ave Indianapolis, IN	2.0	1.0	672	$700	$1.04	8d	1	0.10mi
1327 N Chester Ave Indianapolis, IN	1.0	1.0	600	$795	$1.32	14d	1	0.16mi
1538 N Grant Ave Indianapolis, IN	1.0	1.0	375	$700	$1.87	44d	1	0.16mi
3709 Brookside Parkway South Dr Indianapolis, IN	1.0	1.0	742	$825	$1.11	24d	1	0.17mi
1306 N Chester Ave Indianapolis, IN	1.0	1.0	600	$800	$1.33	21d	1	0.18mi
1531 N Grant Ave Indianapolis, IN	1.0	1.0	611	$875	$1.43	24d	1	0.18mi
1450 N Gladstone Ave Indianapolis, IN	1.0	1.0	588	$799	$1.36	44d	1	0.20mi
1510 N Gladstone Ave Indianapolis, IN	1.0	1.0	570	$765	$1.34	44d	1	0.21mi
1512 N Gladstone Ave Unit 1510 1510 Indianapolis, IN	1.0	1.0	570	$830	$1.46	15d	1	0.21mi
1432 N Colorado Ave Indianapolis, IN	1.0	1.0	584	$875	$1.50	24d	1	0.27mi
1358 N Gale St Indianapolis, IN	1.0	1.0	550	$890	$1.62	17d	1	0.28mi
1301 N Olney St Unit 1303 Indianapolis, IN	2.0	1.0	750	$1,100	$1.47	44d	1	0.35mi
1106 N Gale St Unit 3 Indianapolis, IN	—	1.0	400	$650	$1.62	5d	1	0.40mi
1106 N Gale St Unit 1 Indianapolis, IN	2.0	1.0	750	$895	$1.19	44d	1	0.40mi
1028 N Olney St Unit 1030 Indianapolis, IN	1.0	1.0	700	$800	$1.14	24d	1	0.47mi
927 N Chester Ave Indianapolis, IN	1.0	1.0	596	$750	$1.26	44d	1	0.50mi
1036 N Tuxedo St Indianapolis, IN	1.0	1.0	646	$750	$1.16	5d	1	0.51mi
896 N Gladstone Ave Indianapolis, IN	1.0	1.0	580	$775	$1.34	44d	1	0.54mi
821 N Bradley Ave Indianapolis, IN	1.0	1.0	663	$850	$1.28	5d	1	0.60mi
1114 N Dearborn St Indianapolis, IN	1.0	1.0	646	$795	$1.23	45d	1	0.62mi
2030 N Colorado Ave Indianapolis, IN	2.0	1.0	728	$1,150	$1.58	24d	1	0.62mi
833 N Gladstone Ave Indianapolis, IN	1.0	1.0	687	$825	$1.20	24d	1	0.64mi
3058 Brookside Parkway North Dr Indianapolis, IN	1.0	1.0	700	$875	$1.25	13d	1	0.71mi
1951 N Bosart Ave Indianapolis, IN	2.0	1.0	728	$1,000	$1.37	4d	1	0.75mi
2827 E 18th St Indianapolis, IN	2.0	1.0	726	$1,300	$1.79	24d	1	0.81mi
1315 N Rural St Indianapolis, IN	1.0	1.0	700	$1,000	$1.43	5d	1	0.82mi
1931 N Oxford St Indianapolis, IN	1.0	1.0	616	$875	$1.42	4d	1	0.82mi
1824 N Riley Ave Indianapolis, IN	2.0	1.0	720	$1,150	$1.60	44d	1	0.86mi
412 N Bradley Ave Unit 3 Indianapolis, IN	2.0	1.0	700	$950	$1.36	24d	1	0.92mi
320 N Sherman Dr Indianapolis, IN	—	1.0	750	$525	$0.70	44d	1	0.99mi
320 N Sherman Dr Unit A Indianapolis, IN	—	1.0	450	$525	$1.17	5d	1	0.99mi
628 N Oxford St Indianapolis, IN	1.0	1.0	536	$775	$1.45	24d	1	1.03mi
830 N Emerson Ave Indianapolis, IN	1.0	1.0	560	$850	$1.52	44d	1	1.05mi
831 N Emerson Ave Indianapolis, IN	1.0	1.0	647	$1,000	$1.55	24d	1	1.08mi
2422 Adams St Unit 2 Indianapolis, IN	1.0	1.0	700	$850	$1.21	44d	1	1.18mi
415 N Oxford St Indianapolis, IN	1.0	1.0	580	$650	$1.12	24d	1	1.18mi
2449 Wheeler St Indianapolis, IN	1.0	1.0	600	$950	$1.58	24d	1	1.28mi
5242 E 20th Pl Indianapolis, IN	2.0	1.0	720	$1,050	$1.46	8d	1	1.30mi
37 S Sherman Dr Indianapolis, IN	1.0	1.0	700	$800	$1.14	24d	1	1.30mi
5322 E 19th Pl Indianapolis, IN	2.0	1.0	720	$945	$1.31	44d	1	1.33mi

Listing history 32 events

1. 2026-06-18
   days on market $165,000 Active 37 DOM
2. 2026-06-17
   days on market $165,000 Active 36 DOM
3. 2026-06-16
   days on market $165,000 Active 35 DOM
4. 2026-06-15
   days on market $165,000 Active 34 DOM
5. 2026-06-13
   days on market $165,000 Active 32 DOM
6. 2026-06-13
   days on market $165,000 Active 31 DOM
7. 2026-06-09
   days on market $165,000 Active 28 DOM
8. 2026-06-08
   days on market $165,000 Active 27 DOM
9. 2026-06-07
   days on market $165,000 Active 26 DOM
10. 2026-06-03
    days on market $165,000 Active 22 DOM
11. 2026-06-02
    days on market $165,000 Active 21 DOM
12. 2026-06-01
    days on market $165,000 Active 20 DOM
13. 2026-05-31
    days on market $165,000 Active 19 DOM
14. 2026-05-12
    listed $165,000 Active 241-char remark
15. 2025-09-17
    status Pending
16. 2025-09-17
    historical
17. 2025-06-04
    listed $159,000 Active
18. 2024-01-26
    historical $850
19. 2023-12-23
    listed $850
20. 2023-02-21
    soldstatus $145,000 Closed

    Show marketing remark (473 chars)

    Several updates just completed! Hardwoods throughout just totally refinished and look beautiful! Turnkey 1 bed 1 bath per side duplex with tons of updates. Property was updated in 2015 with new kitchens, bathrooms, tile floors, new furnaces, new water heaters, new appliances including washer and dryer in each unit. 2016 new vinyl siding and roof, 2022 new windows and gutters, 2023 new paint, refinished hardwood floors, new downspout extensions and several more updates!

21. 2023-01-23
    status Pending

    Show marketing remark (473 chars)

    Several updates just completed! Hardwoods throughout just totally refinished and look beautiful! Turnkey 1 bed 1 bath per side duplex with tons of updates. Property was updated in 2015 with new kitchens, bathrooms, tile floors, new furnaces, new water heaters, new appliances including washer and dryer in each unit. 2016 new vinyl siding and roof, 2022 new windows and gutters, 2023 new paint, refinished hardwood floors, new downspout extensions and several more updates!

22. 2023-01-20
    status Active

    Show marketing remark (473 chars)

    Several updates just completed! Hardwoods throughout just totally refinished and look beautiful! Turnkey 1 bed 1 bath per side duplex with tons of updates. Property was updated in 2015 with new kitchens, bathrooms, tile floors, new furnaces, new water heaters, new appliances including washer and dryer in each unit. 2016 new vinyl siding and roof, 2022 new windows and gutters, 2023 new paint, refinished hardwood floors, new downspout extensions and several more updates!

23. 2023-01-06
    status Active

    Show marketing remark (473 chars)

    Several updates just completed! Hardwoods throughout just totally refinished and look beautiful! Turnkey 1 bed 1 bath per side duplex with tons of updates. Property was updated in 2015 with new kitchens, bathrooms, tile floors, new furnaces, new water heaters, new appliances including washer and dryer in each unit. 2016 new vinyl siding and roof, 2022 new windows and gutters, 2023 new paint, refinished hardwood floors, new downspout extensions and several more updates!

24. 2022-11-12
    status Active

    Show marketing remark (473 chars)

    Several updates just completed! Hardwoods throughout just totally refinished and look beautiful! Turnkey 1 bed 1 bath per side duplex with tons of updates. Property was updated in 2015 with new kitchens, bathrooms, tile floors, new furnaces, new water heaters, new appliances including washer and dryer in each unit. 2016 new vinyl siding and roof, 2022 new windows and gutters, 2023 new paint, refinished hardwood floors, new downspout extensions and several more updates!

25. 2022-10-12
    status Pending

    Show marketing remark (473 chars)

    Several updates just completed! Hardwoods throughout just totally refinished and look beautiful! Turnkey 1 bed 1 bath per side duplex with tons of updates. Property was updated in 2015 with new kitchens, bathrooms, tile floors, new furnaces, new water heaters, new appliances including washer and dryer in each unit. 2016 new vinyl siding and roof, 2022 new windows and gutters, 2023 new paint, refinished hardwood floors, new downspout extensions and several more updates!

26. 2022-10-10
    listed $145,000 Active

    Show marketing remark (473 chars)

    Several updates just completed! Hardwoods throughout just totally refinished and look beautiful! Turnkey 1 bed 1 bath per side duplex with tons of updates. Property was updated in 2015 with new kitchens, bathrooms, tile floors, new furnaces, new water heaters, new appliances including washer and dryer in each unit. 2016 new vinyl siding and roof, 2022 new windows and gutters, 2023 new paint, refinished hardwood floors, new downspout extensions and several more updates!

27. 2015-10-14
    soldstatus $22,000 Sold
28. 2015-10-06
    status Pending
29. 2015-09-15
    historical Active with Contingency
30. 2015-08-25
    listed $19,500 Active
31. 2002-04-18
    historical
32. 2001-08-10
    listed $46,500

ⓘ 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: $3,437 · $286/mo
• Projected year-2 tax: $3,437 · $286/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 · 18 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: $19,752
• − Mortgage interest: −$9,243
• − Property taxes: −$3,437
• − Insurance: −$825
• − Repairs & maintenance: −$1,580
• − Management: −$1,580
• − Depreciation: −$4,800
• Taxable loss: −$1,713
• Est. tax savings @ 24.0%: +$411
• After-tax cash flow: $1,370/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): 30,335
• Household income: $49,195
• Rent vs Own: 48.4% rent · 51.6% own
• Severe rent burden: 1906.0

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 53% Hispanic / Latino 23% Black 18% Two or more races 9%
• Hispanic origin (detail): Mexican 14% Puerto Rican 2%
• Common ancestry: Slovak 2% Lithuanian 2% Italian 1%
• Foreign-born: 9% · Canada
• Languages at home: 81% English-only · Spanish 17%

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: ▼ -192.51%
• Current HPI: 375.0969
• Rent YoY: ▲ 7.31%
• 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

+254.8% since first listed

19 events — show timeline

• 2026-05-12 Listed $165,000 MIBOR as Distributed by MLS Grid
• 2025-09-17 Pending — MIBOR as Distributed by MLS Grid
• 2025-09-17 Listing Removed — MIBOR as Distributed by MLS Grid
• 2025-06-04 Listed $159,000 MIBOR as Distributed by MLS Grid
• 2024-01-26 Rental Removed $850 MIBOR
• 2023-12-23 Listed for Rent $850 MIBOR
• 2023-02-21 Sold (MLS) $145,000 MIBOR as Distributed by MLS Grid
• 2023-01-23 Pending — MIBOR as Distributed by MLS Grid
• 2023-01-20 Relisted — MIBOR as Distributed by MLS Grid
• 2023-01-06 Relisted — MIBOR as Distributed by MLS Grid
• 2022-11-12 Relisted — MIBOR as Distributed by MLS Grid
• 2022-10-12 Pending — MIBOR as Distributed by MLS Grid
• 2022-10-10 Listed $145,000 MIBOR as Distributed by MLS Grid
• 2015-10-14 Sold (MLS) $22,000 MIBOR as Distributed by MLS Grid
• 2015-10-06 Pending — MIBOR as Distributed by MLS Grid
• 2015-09-15 Contingent — MIBOR as Distributed by MLS Grid
• 2015-08-25 Listed $19,500 MIBOR as Distributed by MLS Grid
• 2002-04-18 Listing Removed — MIBOR as Distributed by MLS Grid
• 2001-08-10 Listed $46,500 MIBOR as Distributed by MLS Grid

Property tax history

+13.5%/yr

Latest (2025): $3,437 · -0.6% YoY. Source: county tax records.