1613 W 1st St · Marion, IN 46952

$67,500

3 bd · 1.0 ba · 1,016 sqft · SingleFamily public records · 3 Days on market

Built 1910 4,356 sqft lot $66/sqft · at area comps Est $68k · at est.

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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 +7.6/15.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.7/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Step into this renovated 2 bedroom home where modern updates meet timeless charm. Featuring newer flooring throughout, this home boasts a fresh and inviting atmosphere. The updated bathroom offers contemporary finishes, while the newer roof provides peace of mind for years to come. The layout ensures comfort and functionality, perfect for first time buyers, downsizers or investors. This home is move in ready and waiting for you.

Key facts

• New vinyl siding
• New roof
• Updated bathroom

Tags

• NEW ROOF
• NEW VINYL SIDING
• UPDATED PLUMBING
• REFRESHED KITCHEN COUNTERTOPS
• UPDATED BATHROOM
• GAS FORCED-AIR HEATING

Property features AI

Exterior

• Utilities: Public water; Public sewer
• Home design: Single-family site-built home; One story
• Construction: Vinyl siding; Block foundation; Built with site-built construction
• Exterior features: Located on a cul-de-sac; Shed(s) on the property

Interior

• Kitchen: Microwave; Refrigerator
• Bedrooms: Total of 7 rooms (bedrooms and living spaces included)
• Bathrooms: 1 full bathroom (main level)
• Heating & cooling: Natural gas forced-air heating; Wall cooling unit(s)
• Interior features: Microwave; Refrigerator; Electric water heater; Water heater
• Laundry & utility: Washer; Dryer; Main level laundry

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $68k.

Deal economics

• At list price, monthly cash flow is $483 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $68k).
• Cap rate 14.9% vs local median 8.7% in Marion — 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 65/100 on livability (#337 in IN) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F, employment F.
• Marion Community Schools (town): math 18% / reading 24% proficiency, ranked #277 of 301 in IN (top 92%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 67% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Riverview Elementary School (math 42% / reading 27%, grade F, #597 of 994 statewide, top 63%, 396 students, 72% FRL); John L Mcculloch Junior High Sch (math 11% / reading 22%, grade F, #287 of 330 statewide, top 88%, 524 students, 74% FRL); Marion High School (math 12% / reading 47%, grade F, #308 of 369 statewide, top 84%, 1,050 students, 66% FRL) — zoned schools at 71% FRL track the district average.
• Market conditions: 124 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; 52 units permitted in Grant County in 2024 (8 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $467 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Grant County population projected at -18% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $19k cash investment doubles in ~4 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 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 $46k; 47% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1910 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $67,500

Questions for the listing agent

1. Built in 1910 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
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: 1.68% ✓
• Cap rate: 14.88%
• Cash-on-cash: 30.66%
• DSCR: 2.36
• GRM: 5.0

CMA / ARV

• ARV (median comp): $67,696
• List price: $67,500
• Delta: 11.53%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1640 W Spencer Ave	0.15mi	2/1.5 (-1)	1,004 (-1%)	2mo	$74,000	$74	82
1645 W Spencer Ave	0.13mi	3/1.0	1,132 (+11%)	4mo	$58,000	$51	72
1420 W 5th St	0.31mi	2/1.5 (-1)	1,074 (+6%)	5mo	$48,000	$45	65
500 N Hendricks Ave	0.70mi	3/1.5	1,034 (+2%)	2mo	$174,900	$169	61
304 N Norton Ave	0.47mi	2/1.5 (-1)	960 (-6%)	3mo	$154,000	$160	60
601 N Bradner Ave	0.56mi	3/1.0	960 (-6%)	7mo	$150,000	$156	59
312 Horace Mann Ct	0.67mi	2/1.0 (-1)	1,040 (+2%)	5mo	$153,000	$147	56
1148 W 6th St	0.46mi	2/1.0 (-1)	1,161 (+14%)	8mo	$123,100	$106	43
614 N Lancelot Dr	0.58mi	3/1.0	864 (-15%)	10mo	$129,900	$150	40
607 N Farlook Dr	0.64mi	4/1.0 (+1)	1,152 (+13%)	4mo	$82,500	$72	40
1813 W Wenlock Dr	0.60mi	3/1.0	864 (-15%)	9mo	$124,900	$145	39
2112 W 6th St	0.65mi	2/1.5 (-1)	864 (-15%)	3mo	$134,000	$155	35

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 25.4%
• Equity multiple: 2.05×
• Total profit: $19,804
• Equity at exit: $10,064

10-year hold

• IRR: 33.1%
• Equity multiple: 4.00×
• Total profit: $56,787
• Equity at exit: $5,836

Cash invested: $18,900 (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 46952

• Home prices YoY: -29.9%
• Active inventory: 124
• Price-to-rent: 5.0×

Monthly cashflow live

• Estimated rent: $1,134 medium
• Mortgage (P&I): −$354
• Tax from tax record: −$31 /mo · $368/yr
• Insurance: −$28
• HOA: −$0
• Vacancy / Maint / Mgmt: −$238
• Net cashflow: $483

Break-even live

Break-even rent $522

Max offer price $67,500

Occupancy floor 52%

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: $16,875
• Closing costs: $2,025
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2116 W 2nd St Marion, IN	1.0–2.0	1.0	764	$945	$1.24	43d	1	0.51mi
2145 W 2nd St Marion, IN	3.0	1.5	1377	$1,650	$1.20	43d	1	0.63mi
2111 W Frederick Dr Marion, IN	1.0–2.0	1.0–1.5	965	$937	$0.97	43d	4	0.90mi

Listing history 16 events

1. 2026-06-19
   days on market $67,500 Active 3 DOM
2. 2026-06-18
   days on market $67,500 Active 2 DOM
3. 2026-06-17
   remarks 699-char remark
4. 2026-06-17
   pricedays on marketlisting id $67,500 Active 1 DOM
5. 2026-06-09
   days on market $75,500 Active 28 DOM
6. 2026-06-08
   days on market $75,500 Active 27 DOM
7. 2026-06-07
   pricedays on market $75,500 Active 26 DOM
8. 2026-06-02
   days on market $76,500 Active 21 DOM
9. 2026-06-01
   days on market $76,500 Active 20 DOM
10. 2026-05-31
    days on market $76,500 Active 19 DOM
11. 2026-05-30
    days on market $76,500 Active 18 DOM
12. 2026-05-12
    listed $80,000 Active 440-char remark
13. 2025-04-10
    soldstatus $45,900 Closed 432-char remark

    Show marketing remark (432 chars)

    Step into this renovated 2 bedroom home where modern updates meet timeless charm. Featuring newer flooring throughout, this home boasts a fresh and inviting atmosphere. The updated bathroom offers contemporary finishes, while the newer roof provides peace of mind for years to come. The layout ensures comfort and functionality, perfect for first time buyers, downsizers or investors. This home is move in ready and waiting for you.

14. 2025-03-31
    status Pending 432-char remark

    Show marketing remark (432 chars)

    Step into this renovated 2 bedroom home where modern updates meet timeless charm. Featuring newer flooring throughout, this home boasts a fresh and inviting atmosphere. The updated bathroom offers contemporary finishes, while the newer roof provides peace of mind for years to come. The layout ensures comfort and functionality, perfect for first time buyers, downsizers or investors. This home is move in ready and waiting for you.

15. 2025-03-04
    price $59,900 432-char remark

    Show marketing remark (432 chars)

    Step into this renovated 2 bedroom home where modern updates meet timeless charm. Featuring newer flooring throughout, this home boasts a fresh and inviting atmosphere. The updated bathroom offers contemporary finishes, while the newer roof provides peace of mind for years to come. The layout ensures comfort and functionality, perfect for first time buyers, downsizers or investors. This home is move in ready and waiting for you.

16. 2025-02-08
    listed $64,900 Active 432-char remark

    Show marketing remark (432 chars)

    Step into this renovated 2 bedroom home where modern updates meet timeless charm. Featuring newer flooring throughout, this home boasts a fresh and inviting atmosphere. The updated bathroom offers contemporary finishes, while the newer roof provides peace of mind for years to come. The layout ensures comfort and functionality, perfect for first time buyers, downsizers or investors. This home is move in ready and waiting for you.

ⓘ 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: $368 · $31/mo
• Projected year-2 tax: $471 · $39/mo
• Expected delta: +$103/yr (+$9/mo · 28.0%)

ⓘ 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 ≥100°F today · 18 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $13,606
• − Mortgage interest: −$3,781
• − Property taxes: −$368
• − Insurance: −$338
• − Repairs & maintenance: −$1,088
• − Management: −$1,088
• − Depreciation: −$1,964
• Taxable income: $4,979
• Est. tax owed @ 24.0%: −$1,195
• After-tax cash flow: $4,600/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: Marion Community Schools
• NCES district ID: 1806390
• Math proficiency: 18% ▼ -9.00%
• Reading proficiency: 24% ▼ -6.00%
• Median HH income: $33,415
• Composite: 17.13/100
• National rank: #9115
• State rank: #277 of 301 in IN

Livability — Marion

• Score: 65/100
• State rank: #337
• US rank: #13006

Category grades

Amenities F Commute F Cost of living A+ Crime A+ Employment F Housing A+ Health & safety D- User ratings C+

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Marion, IN
• County: Grant County · 41,561 people
• City population: 41,561
• Metro: Marion, IN
• Population (ZIP): 18,189
• Household income: $52,880
• Rent vs Own: 31.5% rent · 68.5% own
• Severe rent burden: 662.0

Population outlook (Grant County) Hauer SSP2

• Today (2025): 64,394 people
• By 2030: 62,145 · -3.5%
• By 2040: 57,252 · -11.1%
• By 2050: 52,968 · -17.7%
• By 2075: 45,986 · -28.6%
• By 2100: 39,400 · -38.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (84%)
• Race & ethnicity: White 84% Two or more races 7% Hispanic / Latino 5% Black 4% Asian 1%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Italian 3% Romanian 1% Iranian 1%
• Foreign-born: 4% · Canada
• Languages at home: 96% English-only · Spanish 3%

Political lean MEDSL · Grant

• 2024 margin: Solid R (+41.8) · D 28.2% · R 70.0% · Other 1.9%
• 2008→2024 swing: -28.7pp toward R · 2008: -13.1pp · 2024: -41.8pp
• All cycles: 2024: R+41.8 2020: R+38.8 2016: R+39.5 2012: R+22.0 2008: R+13.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -76.69%
• Current HPI: 180.1174
• Rent YoY: —
• Metro: Marion, 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

+4.0% since first listed

9 events — show timeline

• 2026-06-16 Listed $67,500 IRMLS
• 2026-06-10 Delisted — IRMLS
• 2026-06-06 Price Changed $75,500 IRMLS
• 2026-05-22 Price Changed $76,500 IRMLS
• 2026-05-12 Listed $80,000 IRMLS
• 2025-04-10 Sold (MLS) $45,900 IRMLS
• 2025-03-31 Pending — IRMLS
• 2025-03-04 Price Changed $59,900 IRMLS
• 2025-02-08 Listed $64,900 IRMLS

Property tax history

-10.5%/yr

Latest (2024): $368 · +2.2% YoY. Source: county tax records.