2403 N Parker Ave · Indianapolis city (balance), IN 46218

$129,900

3 bd · 1.0 ba · 1,120 sqft · SingleFamily public records · 37 Days on market

Built 1954 5,401 sqft lot $116/sqft · 27% above area Est $205k · 37% 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 +21.2/30.0
• ARV discount +15.0/15.0
• DSCR +6.8/10.0
• 1% rule +5.0/10.0
• Rent growth +2.7/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.4/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Property is being sold AS IS. Was a previous rental property and needs lots of cosmetics. Furnace is also missing. Three bedroom, 1 bath unit. Would make a good investment property. Previous tenant lived in it for 5 years.

Key facts

• Covered front porch
• Full basement
• Private ensuite bath

Tags

• FULL BASEMENT
• COVERED FRONT PORCH
• PRIVATE ENSUITE BATH
• FLEXIBLE LIVING SPACE
• SOLID MECHANICALS
• MINUTES FROM FOUNTAIN SQUARE

Property features AI

Finance

• Other: Approximately 25% of optional level finished (basement partially finished)
• HOA & community: Not a low-maintenance lifestyle property

Exterior

• Parking: Alley access
• Utilities: Public water; Municipal sewer connected; Electricity connected; Natural gas available and connected; Water connected; Solid waste service available
• Home design: Single family residence; One story
• Construction: Vinyl siding; Wood siding; Concrete perimeter foundation
• Exterior features: Covered patio/porch; Less than 1/4 acre lot (approximately 0.12 acre)

Interior

• Kitchen: Electric cooktop; Refrigerator
• Bedrooms: Three bedrooms on the main level; One bedroom in the basement (partially finished area)
• Flooring: Hardwood floors
• Bathrooms: Two full bathrooms (main level)
• Heating & cooling: Forced air heating (natural gas); Window AC units
• Interior features: Hardwood floors; Living room is formal

🏷️ Possibly a rental listed for sale. The $129,900 price doesn't fit this home's estimated sale value (~$204,959) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $130k.

Deal economics

• At list price, monthly cash flow is $188 ($2k/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 $129k (0.4% below list).
• Recommended offer: $126k (3.0% below list) — sets the bar for market timing.
• Cap rate 8.0% 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: James Russell Lowell School 51 (math 2% / reading 8%, grade F, #970 of 994 statewide, top 99%, 294 students, 82% FRL); H L Harshman Middle School (math 3% / reading 16%, grade F, #316 of 330 statewide, top 96%, 549 students, 84% 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 80% FRL track the district average.
• Market conditions: Rents flat; 338 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); lower-income renter base — watch delinquency; 1,906 units permitted in Marion County in 2024 (621 in 5+ unit buildings).
• This rent runs 41% of the median local income ($38k/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 $898 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 37 days — a 3% lower offer ($126k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 17y 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 $18k; list at $130k implies a 622% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1954 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $126,003 (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 1954 — 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: 1.00% ✗
• Cap rate: 8.03%
• Cash-on-cash: 6.19%
• DSCR: 1.28
• GRM: 8.4

CMA / ARV

• ARV (median comp): $204,959
• List price: $129,900
• Delta: -36.62%
• 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
2343 N Rural St	0.13mi	2/1.0 (-1)	1,124 (+0%)	4mo	$60,000	$53	85
2740 N Rural St	0.34mi	3/2.0	1,082 (-3%)	2mo	$195,000	$180	73
3320 E 26th St	0.29mi	3/2.0	1,068 (-5%)	3mo	$156,500	$147	72
2037 Adams St	0.55mi	3/1.0	1,106 (-1%)	3mo	$118,000	$107	69
2018 N Dearborn St	0.50mi	3/1.0	1,168 (+4%)	2mo	$145,000	$124	68
2427 N Rural St	0.12mi	2/2.5 (-1)	1,200 (+7%)	6mo	$150,000	$125	66
2426 Lasalle St	0.18mi	2/1.0 (-1)	984 (-12%)	9mo	$95,000	$97	59
2804 Adams St	0.42mi	3/1.0	1,288 (+15%)	1mo	$115,500	$90	55
2718 N Olney St	0.45mi	3/2.0	1,248 (+11%)	8mo	$179,900	$144	49
2729 Massachusetts Ave	0.60mi	3/2.0	1,260 (+12%)	3mo	$178,000	$141	45
2601 Manlove Ave	0.72mi	3/1.0	972 (-13%)	1mo	$174,900	$180	43
2745 Caroline Ave	0.66mi	3/2.0	1,272 (+14%)	0mo	$195,000	$153	42

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 · 0.81% rent growth · sell at horizon

5-year hold

• IRR: -9.1%
• Equity multiple: 0.67×
• Total profit: $-11,904
• Equity at exit: $19,369

10-year hold

• IRR: -2.7%
• Equity multiple: 0.83×
• Total profit: $-6,010
• Equity at exit: $11,231

Cash invested: $36,372 (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 46218

• Home prices YoY: -17.1%
• Rents YoY: 0.8%
• Active inventory: 338
• Price-to-rent: 8.4×

Monthly cashflow live

• Estimated rent: $1,294 high
• Mortgage (P&I): −$681
• Tax from tax record: −$99 /mo · $1,193/yr
• Insurance: −$54
• HOA: −$0
• Vacancy / Maint / Mgmt: −$272
• Net cashflow: $188

Break-even live

Break-even rent $1,057

Max offer price $129,900

Occupancy floor 80%

Sensitivity live

Price	-10% $261	-5% $224	+0% $188	+5% $151	+10% $114
Rent	-10% $85	-5% $137	+0% $188	+5% $239	+10% $290
Rate	-1.0pp $253	-0.5pp $221	base $188	+0.5pp $154	+1.0pp $120

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: $32,475
• Closing costs: $3,897
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2410 Adams St Indianapolis, IN	3.0	1.0	900	$1,200	$1.33	12d	1	0.24mi
2341 Adams St Indianapolis, IN	2.0	1.0	1200	$1,199	$1.00	45d	1	0.27mi
2343 E Adams St Indianapolis, IN	2.0	1.0	1200	$1,199	$1.00	45d	1	0.27mi
3449 E 26th St Indianapolis, IN	3.0	2.0	1200	$1,512	$1.26	3d	1	0.36mi
3451 E 26th St Indianapolis, IN	3.0	2.0	1200	$1,650	$1.38	45d	1	0.36mi
2810 Adams St Indianapolis, IN	3.0	2.0	912	$1,200	$1.32	0d	1	0.42mi
2830 Lasalle St Unit 28 Indianapolis, IN	2.0	1.0	1400	$1,025	$0.73	0d	1	0.42mi
2827 Adams St Indianapolis, IN	3.0	2.0	1200	$1,512	$1.26	3d	1	0.45mi
2045 N Dearborn St Indianapolis, IN	3.0	2.0	912	$1,145	$1.26	25d	1	0.46mi
2906 N Lasalle St Indianapolis, IN	4.0	1.0	1032	$950	$0.92	25d	1	0.50mi
2920 N Lasalle St Indianapolis, IN	3.0	1.0	875	$1,095	$1.25	19d	1	0.53mi
2828 N Gale St Indianapolis, IN	3.0	2.0	1248	$1,260	$1.01	0d	1	0.57mi
2221 Station St Indianapolis, IN	3.0	2.5	1312	$1,600	$1.22	25d	1	0.59mi
2949 Adams St Indianapolis, IN	2.0	1.0	978	$1,150	$1.18	45d	1	0.60mi
1938 N Dearborn St Indianapolis, IN	3.0	1.0	1162	$1,400	$1.20	25d	1	0.61mi
2931 N Tacoma Ave Unit 31 Indianapolis, IN	2.0	1.0	800	$950	$1.19	9d	1	0.62mi
2931 N Tacoma Ave Unit 31 Indianapolis, IN	2.0	1.0	800	$950	$1.19	0d	1	0.62mi
2826 Station St Indianapolis, IN	3.0	2.0	1248	$1,550	$1.24	45d	1	0.64mi
2616 Caroline Ave Indianapolis, IN	4.0	1.0	1276	$1,300	$1.02	45d	1	0.64mi
2010 E 25th St Indianapolis, IN	2.0	1.0	792	$775	$0.98	25d	1	0.64mi
2815 Brookside Ave Indianapolis, IN	3.0	2.0	1120	$1,350	$1.21	12d	1	0.65mi
2372 Beckwith Dr Indianapolis, IN	1.0–3.0	1.0–1.5	676	$1,239	$1.83	0d	5	0.67mi
2822 E 19th St Indianapolis, IN	3.0	2.0	1130	$1,300	$1.15	45d	1	0.67mi
2841 E 19th St Indianapolis, IN	2.0	1.0	812	$850	$1.05	6d	1	0.69mi
2820 Caroline Ave Indianapolis, IN	3.0	1.5	1112	$1,250	$1.12	25d	1	0.72mi
2827 E 18th St Indianapolis, IN	2.0	1.0	726	$1,300	$1.79	25d	1	0.76mi
1623 N Rural St Indianapolis, IN	2.0	1.0	1452	$875	$0.60	45d	1	0.88mi
2862 N Chester Ave Indianapolis, IN	3.0	2.0	1076	$1,520	$1.41	45d	1	0.89mi
3920 E 30th St Indianapolis, IN	3.0	1.0	1071	$1,350	$1.26	6d	1	0.96mi
3920 E 30th St Indianapolis, IN	3.0	1.0	1071	$1,350	$1.26	9d	1	0.96mi
2864 Forest Manor Ave Indianapolis, IN	3.0	1.0	1018	$1,500	$1.47	25d	1	0.96mi
1550 N Rural St Indianapolis, IN	3.0	1.0	1388	$1,500	$1.08	0d	1	0.96mi
3121 Baltimore Ave Indianapolis, IN	3.0	1.0	1232	$7,865	$6.38	9d	1	0.98mi
3165 Station St Unit A Indianapolis, IN	2.0	1.0	768	$1,000	$1.30	0d	1	1.00mi
2819 N Gladstone Ave Indianapolis, IN	4.0	2.0	1261	$1,450	$1.15	45d	1	1.02mi
1505 N Tuxedo St Unit 1507 Indianapolis, IN	2.0	1.0	1000	$1,100	$1.10	45d	1	1.03mi
2330 E 16th St Indianapolis, IN	3.0	1.5	1378	$1,450	$1.05	6d	1	1.04mi
2407 E 16th St Indianapolis, IN	3.0	1.0	1212	$1,450	$1.20	25d	1	1.04mi
2203 Sheldon St Unit B Indianapolis, IN	3.0	2.0	1350	$1,500	$1.11	46d	1	1.04mi
3601 Brookside Parkway South Dr Indianapolis, IN	2.0	1.0	1025	$995	$0.97	45d	1	1.05mi

Listing history 32 events

1. 2026-06-21
   days on market $129,900 Active 37 DOM
2. 2026-06-18
   days on market $129,900 Active 34 DOM
3. 2026-06-17
   days on market $129,900 Active 33 DOM
4. 2026-06-16
   days on market $129,900 Active 32 DOM
5. 2026-06-15
   price $129,900 Active 31 DOM
6. 2026-06-15
   days on market $132,000 Active 31 DOM
7. 2026-06-13
   days on market $132,000 Active 29 DOM
8. 2026-06-13
   days on market $132,000 Active 28 DOM
9. 2026-06-09
   days on market $132,000 Active 25 DOM
10. 2026-06-08
    days on market $132,000 Active 24 DOM
11. 2026-06-07
    days on market $132,000 Active 23 DOM
12. 2026-06-03
    days on market $132,000 Active 19 DOM
13. 2026-06-02
    days on market $132,000 Active 18 DOM
14. 2026-06-01
    days on market $132,000 Active 17 DOM
15. 2026-05-31
    days on market $132,000 Active 16 DOM
16. 2026-05-15
    listed $132,000 Active 817-char remark
17. 2026-04-26
    historical
18. 2026-03-16
    price $139,000
19. 2026-03-12
    status Active
20. 2026-02-19
    status Pending
21. 2026-02-09
    status Active
22. 2025-12-09
    status Pending
23. 2025-12-08
    historical
24. 2025-10-31
    listed $149,000 Active
25. 2019-03-13
    soldstatus $18,000 Sold

    Show marketing remark (232 chars)

    Property is being sold AS IS. Was a previous rental property and needs lots of cosmetics. Furnace is also missing. Three bedroom, 1 bath unit. Would make a good investment property. Previous tenant lived in it for 5 years.

26. 2019-02-04
    status Pending

    Show marketing remark (232 chars)

    Property is being sold AS IS. Was a previous rental property and needs lots of cosmetics. Furnace is also missing. Three bedroom, 1 bath unit. Would make a good investment property. Previous tenant lived in it for 5 years.

27. 2019-01-26
    listed $21,500 Active

    Show marketing remark (232 chars)

    Property is being sold AS IS. Was a previous rental property and needs lots of cosmetics. Furnace is also missing. Three bedroom, 1 bath unit. Would make a good investment property. Previous tenant lived in it for 5 years.

28. 2010-12-01
    historical
29. 2010-07-12
    listed $15,000
30. 2009-03-26
    historical
31. 2009-03-23
    soldstatus $6,000
32. 2009-01-22
    listed $9,900

ⓘ 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: $1,193 · $99/mo
• Projected year-2 tax: $1,193 · $99/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 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: $15,531
• − Mortgage interest: −$7,276
• − Property taxes: −$1,193
• − Insurance: −$650
• − Repairs & maintenance: −$1,242
• − Management: −$1,242
• − Depreciation: −$3,779
• Taxable income: $148
• Est. tax owed @ 24.0%: −$36
• After-tax cash flow: $2,217/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): 29,360
• Household income: $38,063
• Rent vs Own: 47.2% rent · 52.8% own
• Severe rent burden: 2340.0

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 Black (68%)
• Race & ethnicity: Black 68% White 18% Hispanic / Latino 9% Two or more races 6%
• Hispanic origin (detail): Mexican 6%
• Common ancestry: Romanian 1%
• Foreign-born: 5% · Canada, Philippines
• Languages at home: 92% English-only · Spanish 7%

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: ▼ -81.57%
• Current HPI: 395.7071
• Rent YoY: ▲ 0.81%
• 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

+1212.1% since first listed

18 events — show timeline

• 2026-06-15 Price Changed $129,900 MIBOR as Distributed by MLS Grid
• 2026-05-15 Listed $132,000 MIBOR as Distributed by MLS Grid
• 2026-04-26 Listing Removed — MIBOR as Distributed by MLS Grid
• 2026-03-16 Price Changed $139,000 MIBOR as Distributed by MLS Grid
• 2026-03-12 Relisted — MIBOR as Distributed by MLS Grid
• 2026-02-19 Pending — MIBOR as Distributed by MLS Grid
• 2026-02-09 Relisted — MIBOR as Distributed by MLS Grid
• 2025-12-09 Pending — MIBOR as Distributed by MLS Grid
• 2025-12-08 Listing Removed — MIBOR as Distributed by MLS Grid
• 2025-10-31 Listed $149,000 MIBOR as Distributed by MLS Grid
• 2019-03-13 Sold (MLS) $18,000 MIBOR as Distributed by MLS Grid
• 2019-02-04 Pending — MIBOR as Distributed by MLS Grid
• 2019-01-26 Listed $21,500 MIBOR as Distributed by MLS Grid
• 2010-12-01 Listing Removed — MIBOR as Distributed by MLS Grid
• 2010-07-12 Listed $15,000 MIBOR as Distributed by MLS Grid
• 2009-03-26 Listing Removed — MIBOR as Distributed by MLS Grid
• 2009-03-23 Sold (MLS) $6,000 MIBOR as Distributed by MLS Grid
• 2009-01-22 Listed $9,900 MIBOR as Distributed by MLS Grid

Property tax history

+13.2%/yr

Latest (2025): $1,193 · -0.9% YoY. Source: county tax records.