366 S Grand Ave · Indianapolis city (balance), IN 46219

$139,900

3 bd · 1.0 ba · 1,692 sqft · SingleFamily public records · 58 Days on market

Built 1900 6,795 sqft lot $83/sqft · 12% below area Est $159k · 12% under

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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 +18.0/30.0
• ARV discount +12.9/15.0
• DSCR +5.6/10.0
• 1% rule +5.3/10.0
• 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

Charming bungalow-style home in an established neighborhood offering classic character and everyday convenience. This 1.5-story residence features a functional layout with comfortable living spaces, well-sized bedrooms, and a versatile upper level ideal for additional living or storage. The home sits on a mature city lot with shade trees and a welcoming front porch, perfect for relaxing outdoors. Detached parking and easy-maintenance yard add practicality. Conveniently located near local dining, shopping, parks, and quick access to major commuter routes and downtown Indianapolis. A great opportunity for homeowners or investors looking for value and potential in a well-loved area.

Key facts

• Mature city lot
• Shade trees
• Functional layout

Tags

• BUNGALOW STYLE HOME
• FUNCTIONAL LAYOUT
• VERSATILE UPPER LEVEL
• MATURE CITY LOT
• SHADE TREES
• WELCOMING FRONT PORCH

Property features AI

Exterior

• Parking: No designated parking
• Security: Smoke alarm
• Utilities: Public water; Municipal sewer
• Home design: Single family residence; One level
• Construction: Aluminum siding; Block foundation
• Exterior features: City lot with sidewalks; Mature trees; Less than 1/4 acre (0.16 acres)

Interior

• Kitchen: Electric oven; Dishwasher; Refrigerator; Gas water heater
• Bedrooms: Three bedrooms on the main level (each approx. 10x10; one room 12x12)
• Flooring: Hardwood floors
• Bathrooms: One full bathroom (main level)
• Heating & cooling: Forced air heating (natural gas); No central air
• Interior features: Hardwood floors; Walk-in closet(s); Unfinished basement; Smoke alarm; Sump pump; Has view
• Laundry & utility: Sump pump

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $140k.

Deal economics

• At list price, monthly cash flow is $120 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $140k).
• Recommended offer: $136k (3.0% below list) — sets the bar for market timing.
• Cap rate 7.3% 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 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.
• Zoned schools: Christian Park School 82 (math 8% / reading 8%, grade F, #949 of 994 statewide, top 97%, 246 students, 83% FRL); Arsenal Technical High School (math 6% / reading 27%, grade F, #353 of 369 statewide, top 96%, 2,366 students, 74% FRL) — zoned schools at 79% FRL track the district average.
• Market conditions: Rents rising (+2.6%/yr); 143 active listings in the ZIP; 31 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 42% 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 $967 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.

Negotiation context

• It's been on market 58 days — a 3% lower offer ($136k) is reasonable based on typical stale-listing flexibility.
• 11 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.
• Current owner paid $86k; list at $140k implies a 63% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $135,703 (3.0% below list)

Questions for the listing agent

1. It's been on market 58 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 1900 — 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. 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: 1.03% ✓
• Cap rate: 7.33%
• Cash-on-cash: 3.69%
• DSCR: 1.16
• GRM: 8.1

CMA / ARV

• ARV (median comp): $159,129
• List price: $139,900
• Delta: -12.08%
• 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
340 S Grand Ave	0.05mi	3/1.0	1,741 (+3%)	0mo	$125,000	$72	92
4922 Brookville Rd	0.20mi	2/1.0 (-1)	1,624 (-4%)	1mo	$165,000	$102	78
145 S Bancroft St	0.37mi	2/1.0 (-1)	1,535 (-9%)	1mo	$110,000	$72	62
5338 Brookville Rd	0.27mi	2/1.5 (-1)	1,491 (-12%)	1mo	$155,000	$104	60
527 S Grand Ave	0.23mi	2/1.0 (-1)	1,450 (-14%)	1mo	$90,000	$62	59
5413 Greenfield Ave	0.31mi	2/1.0 (-1)	1,920 (+14%)	1mo	$103,600	$54	58
5754 Rawles Ave	0.72mi	2/1.0 (-1)	1,728 (+2%)	1mo	$220,000	$127	57
701 S Grand Ave	0.35mi	2/1.0 (-1)	1,450 (-14%)	1mo	$118,000	$81	54
621 S Butler Ave	0.35mi	2/1.0 (-1)	1,450 (-14%)	1mo	$120,000	$83	54
4650 Young Ave	0.44mi	2/1.0 (-1)	1,464 (-14%)	1mo	$133,000	$91	51
4601 English Ave	0.53mi	2/1.0 (-1)	1,920 (+14%)	1mo	$173,000	$90	47
4301 English Ave	0.71mi	2/1.0 (-1)	1,920 (+14%)	0mo	$110,000	$57	39

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: -10.9%
• Equity multiple: 0.60×
• Total profit: $-15,476
• Equity at exit: $20,860

10-year hold

• IRR: -2.1%
• Equity multiple: 0.86×
• Total profit: $-5,553
• Equity at exit: $12,096

Cash invested: $39,172 (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: 143
• Price-to-rent: 8.1×

Monthly cashflow live

• Estimated rent: $1,444 high
• Mortgage (P&I): −$734
• Tax from tax record: −$228 /mo · $2,742/yr
• Insurance: −$58
• HOA: −$0
• Vacancy / Maint / Mgmt: −$303
• Net cashflow: $120

Break-even live

Break-even rent $1,292

Max offer price $139,900

Occupancy floor 87%

Sensitivity live

Price	-10% $200	-5% $160	+0% $120	+5% $81	+10% $41
Rent	-10% $6	-5% $63	+0% $120	+5% $178	+10% $235
Rate	-1.0pp $191	-0.5pp $156	base $120	+0.5pp $84	+1.0pp $47

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: $34,975
• Closing costs: $4,197
• Reserves months: —
• Total cash needed: —

Rent comps 31 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5010 Brookville Rd Indianapolis, IN	3.0	2.0	1656	$1,350	$0.82	8d	1	0.12mi
4931 Orion Ave Indianapolis, IN	2.0	1.0	1200	$1,450	$1.21	24d	1	0.17mi
117 N Riley Ave Indianapolis, IN	3.0	3.0	1664	$1,600	$0.96	20d	1	0.63mi
739 Temperance Ave Indianapolis, IN	3.0	1.0	1136	$1,350	$1.19	44d	1	0.68mi
4318 Spann Ave Indianapolis, IN	3.0	1.0	1411	$1,200	$0.85	44d	1	0.68mi
306 N Riley Ave Indianapolis, IN	3.0	1.0	1320	$1,095	$0.83	18d	1	0.70mi
25 N Drexel Ave Unit A Indianapolis, IN	3.0	2.0	1250	$1,325	$1.06	44d	1	0.71mi
415 N Dequincy St Indianapolis, IN	3.0	2.0	1250	$1,900	$1.52	15d	1	0.79mi
508 Emerson Ave Indianapolis, IN	3.0	1.5	1094	$1,150	$1.05	15d	1	0.84mi
21 N Colorado Ave Indianapolis, IN	3.0	1.5	1520	$2,000	$1.32	44d	1	0.84mi
5105 E North St Indianapolis, IN	2.0	2.0	1180	$2,250	$1.91	44d	1	0.88mi
606 N Emerson Ave Indianapolis, IN	2.0	1.5	1372	$2,450	$1.79	24d	1	0.89mi
5750 E Washington St Indianapolis, IN	2.0	1.0	1186	$1,100	$0.93	4d	2	0.92mi
338 S Arlington Ave Indianapolis, IN	2.0	2.0	1303	$1,610	$1.24	24d	1	0.94mi
338 S Arlington Ave Apt 204 Indianapolis, IN	2.0	2.0	1303	$1,674	$1.28	15d	1	0.94mi
119 N Grant Ave Indianapolis, IN	3.0	1.0	1408	$1,195	$0.85	44d	1	1.00mi
8 S Bradley Ave Indianapolis, IN	2.0	1.0	1300	$950	$0.73	24d	1	1.09mi
614 N Colorado Ave Indianapolis, IN	2.0	2.0	1736	$1,200	$0.69	24d	1	1.14mi
5015 Reeder St Indianapolis, IN	3.0	2.0	1482	$1,950	$1.32	44d	1	1.14mi
314 N Denny St Indianapolis, IN	3.0	1.0	1184	$975	$0.82	24d	1	1.16mi
33 N Sherman Dr Unit 33 Indianapolis, IN	3.0	1.5	1288	$1,500	$1.16	8d	1	1.17mi
642 N Colorado Ave Indianapolis, IN	3.0	2.0	1572	$1,450	$0.92	44d	1	1.17mi
405 S Sheridan Ave Indianapolis, IN	2.0	1.0	1700	$1,350	$0.79	18d	1	1.19mi
442 N Denny St Indianapolis, IN	3.0	1.0	1140	$1,045	$0.92	24d	1	1.25mi
801 N Gladstone Ave Indianapolis, IN	3.0	1.5	1776	$1,225	$0.69	44d	1	1.25mi
3712 E Market St Indianapolis, IN	3.0	1.0	1800	$1,450	$0.81	15d	1	1.27mi
4703 E Minnesota St Indianapolis, IN	4.0	1.5	1588	$1,695	$1.07	44d	1	1.29mi
447 N Sherman Dr Indianapolis, IN	3.0	1.5	1312	$1,195	$0.91	44d	1	1.33mi
603 N Sherman Dr Indianapolis, IN	3.0	1.0	1250	$1,300	$1.04	44d	1	1.37mi
822 N Bradley Ave Unit 822 Indianapolis, IN	3.0	1.0	1100	$1,200	$1.09	44d	1	1.47mi
49 S Lasalle St Unit 1540092P Indianapolis, IN	3.0	2.0	1991	$3,053	$1.53	4d	1	1.48mi

Listing history 37 events

1. 2026-06-21
   days on market $139,900 Active 58 DOM
2. 2026-06-18
   days on market $139,900 Active 55 DOM
3. 2026-06-17
   days on market $139,900 Active 54 DOM
4. 2026-06-16
   days on market $139,900 Active 53 DOM
5. 2026-06-15
   days on market $139,900 Active 52 DOM
6. 2026-06-13
   days on market $139,900 Active 50 DOM
7. 2026-06-13
   days on market $139,900 Active 49 DOM
8. 2026-06-09
   days on market $139,900 Active 46 DOM
9. 2026-06-08
   days on market $139,900 Active 45 DOM
10. 2026-06-07
    days on market $139,900 Active 44 DOM
11. 2026-06-03
    days on market $139,900 Active 40 DOM
12. 2026-06-02
    days on market $139,900 Active 39 DOM
13. 2026-06-01
    days on market $139,900 Active 38 DOM
14. 2026-05-31
    price $139,900 Active 37 DOM
15. 2026-05-31
    days on market $144,900 Active 37 DOM
16. 2026-04-24
    listed $144,900 Active 688-char remark
17. 2022-10-05
    soldstatus $86,000
18. 2022-09-29
    soldstatus $86,000 Closed
19. 2022-09-09
    historical
20. 2022-09-08
    listed $86,000
21. 2022-03-10
    status Active
22. 2022-03-09
    historical
23. 2022-02-12
    status Pending
24. 2022-02-12
    status Active
25. 2022-01-31
    status Active
26. 2021-12-07
    status Pending
27. 2021-12-05
    listed $110,000 Active
28. 2018-07-16
    status Pending
29. 2018-05-25
    listed $1,100,000 Active
30. 2012-01-13
    historical
31. 2011-07-12
    listed $32,000
32. 2008-05-09
    soldstatus $13,500
33. 2007-12-31
    listed $15,000
34. 2003-01-03
    soldstatus $24,500
35. 2002-07-19
    listed $26,500
36. 2002-02-28
    historical
37. 2001-08-27
    listed $40,000

ⓘ 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: $2,742 · $228/mo
• Projected year-2 tax: $2,742 · $228/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: $17,331
• − Mortgage interest: −$7,837
• − Property taxes: −$2,742
• − Insurance: −$700
• − Repairs & maintenance: −$1,386
• − Management: −$1,386
• − Depreciation: −$4,070
• Taxable loss: −$790
• Est. tax savings @ 24.0%: +$190
• After-tax cash flow: $1,636/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

+249.8% since first listed

23 events — show timeline

• 2026-05-31 Price Changed $139,900 MIBOR as Distributed by MLS Grid
• 2026-04-24 Listed $144,900 MIBOR as Distributed by MLS Grid
• 2022-10-05 Sold (Public Records) $86,000 Public Records
• 2022-09-29 Sold (MLS) $86,000 MIBOR as Distributed by MLS Grid
• 2022-09-09 Listing Removed — MIBOR as Distributed by MLS Grid
• 2022-09-08 Listed $86,000 MIBOR as Distributed by MLS Grid
• 2022-03-10 Relisted — MIBOR as Distributed by MLS Grid
• 2022-03-09 Listing Removed — MIBOR as Distributed by MLS Grid
• 2022-02-12 Pending — MIBOR as Distributed by MLS Grid
• 2022-02-12 Relisted — MIBOR as Distributed by MLS Grid
• 2022-01-31 Relisted — MIBOR as Distributed by MLS Grid
• 2021-12-07 Pending — MIBOR as Distributed by MLS Grid
• 2021-12-05 Listed $110,000 MIBOR as Distributed by MLS Grid
• 2018-07-16 Pending — MIBOR as Distributed by MLS Grid
• 2018-05-25 Listed $1,100,000 MIBOR as Distributed by MLS Grid
• 2012-01-13 Listing Removed — MIBOR as Distributed by MLS Grid
• 2011-07-12 Listed $32,000 MIBOR as Distributed by MLS Grid
• 2008-05-09 Sold (MLS) $13,500 MIBOR as Distributed by MLS Grid
• 2007-12-31 Listed $15,000 MIBOR as Distributed by MLS Grid
• 2003-01-03 Sold (MLS) $24,500 MIBOR as Distributed by MLS Grid
• 2002-07-19 Listed $26,500 MIBOR as Distributed by MLS Grid
• 2002-02-28 Listing Removed — MIBOR as Distributed by MLS Grid
• 2001-08-27 Listed $40,000 MIBOR as Distributed by MLS Grid

Property tax history

+11.1%/yr

Latest (2025): $2,742 · +28.3% YoY. Source: county tax records.