2327 Hoyt Ave · Indianapolis city (balance), IN 46203

$55,000

2 bd · 1.0 ba · 790 sqft · SingleFamily public records · 53 Days on market

Built 1955 3,703 sqft lot ↓ 21% since listing

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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
• 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

* Investor Special * Great opportunity for investors looking for a project! Come to Christian Park with your imagination, your hard hat, and your drill!! This 2 bedroom 1 bathroom property needs a lot of TLC, but is the perfect project for those looking to work! You do not want to miss out on this opportunity, place an offer now!! (Property being sold AS-IS)

Key facts

• As-is sale
• 3,703 sq ft lot
• 2 garage spots

Tags

• CHRISTIAN PARK LOCATION
• AS-IS SALE
• INVESTMENT OPPORTUNITY

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $55k.

Deal economics

• At list price, monthly cash flow is $593 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $55k).
• Recommended offer: $53k (3.0% below list) — sets the bar for market timing.
• Cap rate 19.2% 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 (+2.9%/yr); 493 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); 48% 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 $380 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 + 2.9% rent growth), your $15k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 53 days — a 3% lower offer ($53k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1955 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $53,350 (3.0% below list)

Questions for the listing agent

1. It's been on market 53 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 1955 — 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: 2.24% ✓
• Cap rate: 19.22%
• Cash-on-cash: 46.17%
• DSCR: 3.05
• GRM: 3.7

CMA / ARV

• ARV (on-the-fly): $161,160
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2217 Spann Ave	0.13mi	2/1.0	720 (-9%)	3mo	$177,000	$246	77
1118 Churchman Ave	0.39mi	2/2.0	812 (+3%)	7mo	$244,000	$300	67
524 S Rural St	0.34mi	2/1.0	720 (-9%)	7mo	$148,000	$206	63
520 S Rural St	0.35mi	2/1.0	720 (-9%)	8mo	$95,000	$132	62
543 Leeds Ave	0.29mi	2/1.0	856 (+8%)	13mo	$172,500	$202	62
418 S Oxford St	0.46mi	2/1.0	816 (+3%)	14mo	$151,000	$185	61
238 S Temple Ave	0.51mi	2/1.0	840 (+6%)	13mo	$65,000	$77	55
618 S Temple Ave	0.20mi	2/1.0	672 (-15%)	14mo	$137,000	$204	54
425 S Oakland Ave	0.59mi	2/1.0	834 (+6%)	12mo	$105,000	$126	53
1341 Fletcher Ave	0.71mi	2/1.0	860 (+9%)	0mo	$215,000	$250	52
1410 St Paul St	0.60mi	1/1.0 (-1)	864 (+9%)	12mo	$83,250	$96	41
831 Laurel St	0.71mi	2/1.0	672 (-15%)	4mo	$180,000	$268	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 · 2.88% rent growth · sell at horizon

5-year hold

• IRR: 43.3%
• Equity multiple: 2.86×
• Total profit: $28,697
• Equity at exit: $8,201

10-year hold

• IRR: 49.3%
• Equity multiple: 5.74×
• Total profit: $73,052
• Equity at exit: $4,755

Cash invested: $15,400 (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 46203

• Home prices YoY: -26.7%
• Rents YoY: 2.9%
• Active inventory: 493
• Price-to-rent: 3.7×

Monthly cashflow live

• Estimated rent: $1,231 high
• Mortgage (P&I): −$288
• Tax est. 1.5%: −$69 /mo · $825/yr
• Insurance: −$23
• HOA: −$0
• Vacancy / Maint / Mgmt: −$259
• Net cashflow: $593

Break-even live

Break-even rent $481

Max offer price $55,000

Occupancy floor 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: $13,750
• Closing costs: $1,650
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2230 Woodlawn Ave Indianapolis, IN	2.0	1.0	924	$1,350	$1.46	43d	1	0.18mi
2116 Woodlawn Ave Indianapolis, IN	2.0	2.0	1054	$1,175	$1.11	7d	1	0.22mi
1011 Harlan St Indianapolis, IN	2.0	2.0	1008	$1,525	$1.51	43d	1	0.26mi
1013 Harlan St Indianapolis, IN	2.0	1.0	1008	$1,475	$1.46	43d	1	0.26mi
1912 Lexington Ave Unit 1910B Indianapolis, IN	1.0	1.0	660	$850	$1.29	43d	1	0.27mi
423 Villa Ave Indianapolis, IN	1.0	1.0	593	$799	$1.35	23d	1	0.32mi
815 Dawson St Unit 2 Indianapolis, IN	2.0	1.0	600	$1,300	$2.17	4d	1	0.35mi
2631 Southeastern Ave Indianapolis, IN	3.0	2.0	1072	$1,195	$1.11	11d	1	0.36mi
225 Hamilton Ave Indianapolis, IN	2.0	2.0	1008	$1,695	$1.68	43d	1	0.39mi
2025 Southeastern Ave Indianapolis, IN	1.0	1.0	663	$775	$1.17	43d	1	0.41mi
2034 Southeastern Ave Indianapolis, IN	1.0	1.0	525	$850	$1.62	14d	1	0.44mi
518 S State Ave Indianapolis, IN	2.0	1.0	900	$725	$0.81	43d	1	0.44mi
247 S Randolph St Indianapolis, IN	2.0	1.0	720	$750	$1.04	43d	1	0.46mi
245 S Randolph St Indianapolis, IN	2.0	1.0	720	$750	$1.04	43d	1	0.46mi
1023 S State Ave Indianapolis, IN	1.0	1.0	600	$1,099	$1.83	23d	1	0.46mi
330 S Rural St Indianapolis, IN	2.0	1.0	960	$1,050	$1.09	7d	1	0.49mi
350 S Oxford St Indianapolis, IN	3.0	1.0	826	$1,300	$1.57	43d	1	0.52mi
323 S Rural St Indianapolis, IN	3.0	1.5	1090	$1,050	$0.96	43d	1	0.53mi
3022 English Ave Unit 3022 Indianapolis, IN	2.0	1.0	600	$650	$1.08	43d	1	0.57mi
1449 Fletcher Ave Indianapolis, IN	2.0	2.0	1000	$2,000	$2.00	17d	1	0.60mi
1718 Southeastern Ave Indianapolis, IN	1.0	1.0	700	$1,080	$1.54	43d	1	0.60mi
1026 Laurel St Indianapolis, IN	1.0	1.0	655	$860	$1.31	43d	1	0.68mi
1441 Prospect St Indianapolis, IN	2.0	1.0–2.0	2840	$2,000	$0.70	1d	13	0.69mi
1503 Dawson St Indianapolis, IN	2.0	1.0	700	$1,200	$1.71	43d	1	0.71mi
340 S Dearborn St Indianapolis, IN	2.0	1.0	873	$1,180	$1.35	23d	1	0.74mi
1337 Prospect St Unit 3 Indianapolis, IN	1.0	2.0	1100	$1,450	$1.32	43d	1	0.75mi
1306 Woodlawn Ave Unit 1B Indianapolis, IN	1.0	1.0	720	$1,275	$1.77	43d	1	0.75mi
301 S Gray St Indianapolis, IN	2.0	1.0	841	$1,025	$1.22	23d	1	0.76mi
1534 Dawson St Indianapolis, IN	3.0	1.0	1040	$1,499	$1.44	23d	1	0.77mi
49 S Rural St Indianapolis, IN	2.0	1.5	750	$950	$1.27	10d	1	0.77mi
1505 S Rural St Indianapolis, IN	3.0	1.0	1104	$1,500	$1.36	12d	1	0.79mi
1224 Prospect St Indianapolis, IN	2.0	1.0–2.0	691	$2,235	$3.23	1d	8	0.82mi
1148 Fletcher Ave Indianapolis, IN	2.0	1.0	900	$1,800	$2.00	17d	1	0.82mi
3441 Prospect St Indianapolis, IN	2.0	1.0	1008	$1,700	$1.69	44d	1	0.83mi
3441 Prospect St Indianapolis, IN	2.0	1.0	1008	$1,500	$1.49	23d	1	0.83mi
1543 S State Ave Indianapolis, IN	2.0	1.0	1086	$1,100	$1.01	7d	1	0.84mi
270 S Lasalle St Indianapolis, IN	3.0	2.0	562	$1,329	$2.36	7d	1	0.84mi
1620 E Palmer St Indianapolis, IN	2.0	1.0	824	$1,200	$1.46	23d	1	0.87mi
1640 Asbury St Indianapolis, IN	1.0	1.0	700	$850	$1.21	43d	1	0.87mi
1637 S State Ave Indianapolis, IN	2.0	1.5	816	$900	$1.10	17d	1	0.89mi

Listing history 5 events

1. 2024-08-12
   status Pending
2. 2024-07-24
   price $55,000
3. 2024-07-17
   price $59,900
4. 2024-07-08
   price $64,900
5. 2024-06-20
   listed $69,900 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone X (unshaded) · 69% 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: $14,774
• − Mortgage interest: −$3,081
• − Property taxes: −$825
• − Insurance: −$275
• − Repairs & maintenance: −$1,182
• − Management: −$1,182
• − Depreciation: −$1,600
• Taxable income: $6,629
• Est. tax owed @ 24.0%: −$1,591
• After-tax cash flow: $5,519/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): 37,758
• Household income: $57,393
• Rent vs Own: 42.2% rent · 57.8% own
• Severe rent burden: 1499.0

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: Predominantly White (69%)
• Race & ethnicity: White 69% Hispanic / Latino 14% Black 12% Two or more races 8% Asian 2% Native American 1%
• Hispanic origin (detail): Mexican 12% Puerto Rican 1%
• Common ancestry: Slovak 2% Lithuanian 2% Italian 1%
• Foreign-born: 8% · Canada
• Languages at home: 88% English-only · Spanish 10% 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: ▼ -127.37%
• Current HPI: 349.579
• Rent YoY: ▲ 2.88%
• 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

-21.3% since first listed

5 events — show timeline

• 2024-08-12 Pending — MIBOR as Distributed by MLS Grid
• 2024-07-24 Price Changed $55,000 MIBOR as Distributed by MLS Grid
• 2024-07-17 Price Changed $59,900 MIBOR as Distributed by MLS Grid
• 2024-07-08 Price Changed $64,900 MIBOR as Distributed by MLS Grid
• 2024-06-20 Listed $69,900 MIBOR as Distributed by MLS Grid

Property tax history

+20.7%/yr

Latest (2025): $6,162 · +7.7% YoY. Source: county tax records.