2417 N Bolton Ave · Indianapolis city (balance), IN 46218

$199,900

2 bd · None ba · 768 sqft · MultiFamily public records · 30 Days on market

Built 1965 6,621 sqft lot

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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 +16.6/30.0
• ARV discount +7.5/15.0
• DSCR +5.1/10.0
• 1% rule +4.9/10.0
• 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

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks MLS

Investing made easy! This 4 bedroom, 2 bathroom BRICK duplex is available, along with its sister property of 2413 N Bolton Ave. ($192,500 per duplex, $385,000 for both.) Each unit is a 2 bedroom, 1 bathroom. Complete rehab was completed within the last 5 years so the property features newer plumbing, HVAC, electrical, appliances, windows, and doors. Each unit has its own washer and dryer. In addition, there is plenty of off street parking for your tenants. The units are metered separately, including water. Tenants pay all utilities. This property is positioned to have minimal maintenance for many, many years to come. Unit 2417 is on a month-to-month lease and 2419 is vacant. Target rent of $950 per unit. Unit 2419 is "go & show". At this time, occupied units are only being shown this Saturday, 12/14 from 12:00 - 2:00pm. Occupied units can be vacated prior to closing. The owner is NOT interested in selling separately at this time.

Key facts

• 6,621 sq ft lot
• Built 1965
• Listed 30 days

Property features AI

Finance

• Other: Lot size approximately 0.15 acre
• Financial info: Two-unit property; Gross income and expenses listed as $0
• HOA & community: Low maintenance lifestyle: No

Exterior

• Parking: Not specified
• Security: Not specified
• Utilities: No solid waste service listed
• Home design: Duplex residential income property; One story
• Construction: Not specified
• Exterior features: Residential use; Access road

Interior

• Kitchen: Not specified
• Bedrooms: Not specified
• Flooring: Not specified
• Bathrooms: Not specified
• Heating & cooling: Not specified
• Interior features: One-level living
• Laundry & utility: Not specified

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1-bath units multifamily listed at $200k.

Deal economics

• At list price, monthly cash flow is $120 ($1k/yr) — positive. Per door: $60/mo.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $198k (1.2% below list).
• Recommended offer: $197k (1.5% below list) — sets the bar for market timing.
• Cap rate 7.0% 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 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.
• Zoned schools: Center For Inquiry School 27 (math 25% / reading 29%, grade F, #737 of 994 statewide, top 76%, 525 students, 51% FRL); H L Harshman Middle School (math 3% / reading 16%, grade F, #316 of 330 statewide, top 96%, 549 students, 84% FRL).
• Market conditions: Rents flat; 338 active listings in the ZIP; 37 comparable units currently listed for rent nearby; rentals at typical pace (median 26d 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).
• At $1,976/mo this rent would consume 62% of the median local household income ($38k/yr) (locally 2340% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k 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 30 days — a 2% lower offer ($197k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 18y 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.

Recommended offer $196,901 (1.5% below list)

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1965 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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.
7. 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.
8. 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: 0.99% ✗
• Cap rate: 7.02%
• Cash-on-cash: 2.58%
• DSCR: 1.11
• GRM: 8.4

CMA / ARV

• ARV (on-the-fly): $34,560
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2226 Admiral Dr	0.54mi	2/2.0	816 (+6%)	2mo	$37,000	$45	63

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: -14.8%
• Equity multiple: 0.48×
• Total profit: $-28,916
• Equity at exit: $29,806

10-year hold

• IRR: -10.4%
• Equity multiple: 0.43×
• Total profit: $-31,767
• Equity at exit: $17,284

Cash invested: $55,972 (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: 16.9×

Monthly cashflow live

• Estimated rent: $1,976 medium
• Mortgage (P&I): −$1,048
• Tax from tax record: −$309 /mo · $3,708/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$415
• Net cashflow: $120

Break-even live

Break-even rent $1,824

Max offer price $199,900

Occupancy floor 89%

Sensitivity live

Price	-10% $234	-5% $177	+0% $120	+5% $64	+10% $7
Rent	-10% $-36	-5% $42	+0% $120	+5% $198	+10% $277
Rate	-1.0pp $221	-0.5pp $171	base $120	+0.5pp $69	+1.0pp $16

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$1,976
Total (2 units)			$1,976

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: $49,975
• Closing costs: $5,997
• Reserves months: —
• Total cash needed: —

Rent comps 37 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2419 N Bolton Ave Indianapolis, IN	2.0	1.0	768	$950	$1.24	9d	1	0.02mi
5923 E 24th St Indianapolis, IN	2.0	1.0	816	$950	$1.16	19d	1	0.05mi
2404 N Lesley Ave Indianapolis, IN	2.0	1.0	763	$850	$1.11	45d	1	0.25mi
6046 E 21st St Indianapolis, IN	1.0–2.0	1.0	792	$865	$1.09	23d	11	0.32mi
6046 E 21st St Indianapolis, IN	1.0–2.0	1.0	642	$873	$1.36	0d	9	0.32mi
6120 Nimitz Dr Indianapolis, IN	2.0	1.0	864	$750	$0.87	45d	1	0.39mi
6136 Nimitz Dr Indianapolis, IN	2.0	1.0	864	$799	$0.92	22d	1	0.40mi
2304 N Ritter Ave Apt 9 Indianapolis, IN	2.0	1.0	725	$799	$1.10	22d	1	0.40mi
2308 N Ritter Ave Apt 24 Indianapolis, IN	2.0	1.0	725	$825	$1.14	22d	1	0.41mi
6119 Nimitz Dr Indianapolis, IN	3.0	1.0	816	$850	$1.04	25d	1	0.42mi
6119 Nimitz Dr Indianapolis, IN	3.0	1.0	816	$850	$1.04	0d	1	0.42mi
2302 N Ritter Ave Indianapolis, IN	2.0	1.0	725	$788	$1.09	9d	2	0.42mi
2312 N Ritter Ave Apt 31 Indianapolis, IN	2.0	1.0	725	$825	$1.14	23d	1	0.45mi
6149 Commodore Dr Indianapolis, IN	2.0	1.0	816	$850	$1.04	25d	1	0.45mi
6154 Commodore Dr Indianapolis, IN	2.0	1.0	900	$950	$1.06	25d	1	0.45mi
6267 E 24th St Indianapolis, IN	3.0	1.0	981	$1,195	$1.22	3d	1	0.55mi
2226 N Kenyon St Indianapolis, IN	2.0	1.0	816	$850	$1.04	25d	1	0.57mi
5322 E 19th Pl Indianapolis, IN	2.0	1.0	720	$945	$1.31	45d	1	0.75mi
5242 E 20th Pl Indianapolis, IN	2.0	1.0	720	$1,050	$1.46	9d	1	0.76mi
1702 N Ritter Ave Indianapolis, IN	2.0	1.0	750	$1,200	$1.60	5d	1	0.86mi
5119 E 21st St Indianapolis, IN	2.0	1.0	816	$1,199	$1.47	45d	1	0.89mi
1424 N Campbell Ave Unit 1424 Indianapolis, IN	1.0	1.0	750	$905	$1.21	25d	1	0.91mi
1424 N Campbell Ave Unit 1446 Indianapolis, IN	1.0	1.0	800	$920	$1.15	25d	1	0.91mi
1366 N Arlington Ave Indianapolis, IN	2.0	1.0–1.5	885	$1,074	$1.21	0d	13	0.99mi
2194 N Riley Ave Indianapolis, IN	3.0	1.0	1100	$1,749	$1.59	45d	1	1.03mi
1213 Taylor Dr E Indianapolis, IN	2.0	1.0	853	$1,045	$1.23	16d	1	1.19mi
1824 N Riley Ave Indianapolis, IN	2.0	1.0	720	$1,150	$1.60	45d	1	1.19mi
3319 N Hawthorne Ln Indianapolis, IN	3.0	1.0	1084	$1,100	$1.01	25d	1	1.24mi
6214 Eastridge Dr Indianapolis, IN	2.0	1.0	798	$1,000	$1.25	45d	1	1.30mi
1951 N Bosart Ave Indianapolis, IN	2.0	1.0	728	$1,000	$1.37	5d	1	1.32mi
3301 Mardenna Ave Indianapolis, IN	3.0	1.0	925	$1,200	$1.30	45d	1	1.33mi
6203 E 11th St Indianapolis, IN	2.0	1.0	880	$1,025	$1.16	25d	1	1.34mi
2950 N Dequincy St Indianapolis, IN	3.0	1.0	888	$1,375	$1.55	15d	1	1.36mi
2932 Arthington Blvd Indianapolis, IN	3.0	1.0	900	$1,350	$1.50	25d	1	1.43mi
3316 N Emerson Ave Indianapolis, IN	3.0	1.0	912	$1,100	$1.21	25d	1	1.43mi
4615 E 30th St Indianapolis, IN	2.0	1.0	660	$1,100	$1.67	25d	1	1.48mi
3516 N Hawthorne Ln Indianapolis, IN	3.0	1.0	925	$1,225	$1.32	6d	1	1.50mi

Listing history 21 events

1. 2026-06-21
   days on market $199,900 Active 30 DOM
2. 2026-06-18
   days on market $199,900 Active 27 DOM
3. 2026-06-17
   days on market $199,900 Active 26 DOM
4. 2026-06-16
   days on market $199,900 Active 25 DOM
5. 2026-06-15
   days on market $199,900 Active 24 DOM
6. 2026-06-13
   days on market $199,900 Active 22 DOM
7. 2026-06-13
   days on market $199,900 Active 21 DOM
8. 2026-06-09
   days on market $199,900 Active 18 DOM
9. 2026-06-08
   days on market $199,900 Active 17 DOM
10. 2026-06-07
    days on market $199,900 Active 16 DOM
11. 2026-06-03
    days on market $199,900 Active 12 DOM
12. 2026-06-02
    days on market $199,900 Active 11 DOM
13. 2026-06-01
    days on market $199,900 Active 10 DOM
14. 2026-05-31
    days on market $199,900 Active 9 DOM
15. 2026-05-22
    listed $199,900 Active
16. 2025-02-17
    soldstatus $191,000 Closed 957-char remark

    Show marketing remark (957 chars)

    Investing made easy! This 4 bedroom, 2 bathroom BRICK duplex is available, along with its sister property of 2413 N Bolton Ave. ($192,500 per duplex, $385,000 for both.) Each unit is a 2 bedroom, 1 bathroom. Complete rehab was completed within the last 5 years so the property features newer plumbing, HVAC, electrical, appliances, windows, and doors. Each unit has its own washer and dryer. In addition, there is plenty of off street parking for your tenants. The units are metered separately, including water. Tenants pay all utilities. This property is positioned to have minimal maintenance for many, many years to come. Unit 2417 is on a month-to-month lease and 2419 is vacant. Target rent of $950 per unit. Unit 2419 is "go & show". At this time, occupied units are only being shown this Saturday, 12/14 from 12:00 - 2:00pm. Occupied units can be vacated prior to closing. The owner is NOT interested in selling separately at this time.

17. 2024-12-20
    status Pending 957-char remark

    Show marketing remark (957 chars)

    Investing made easy! This 4 bedroom, 2 bathroom BRICK duplex is available, along with its sister property of 2413 N Bolton Ave. ($192,500 per duplex, $385,000 for both.) Each unit is a 2 bedroom, 1 bathroom. Complete rehab was completed within the last 5 years so the property features newer plumbing, HVAC, electrical, appliances, windows, and doors. Each unit has its own washer and dryer. In addition, there is plenty of off street parking for your tenants. The units are metered separately, including water. Tenants pay all utilities. This property is positioned to have minimal maintenance for many, many years to come. Unit 2417 is on a month-to-month lease and 2419 is vacant. Target rent of $950 per unit. Unit 2419 is "go & show". At this time, occupied units are only being shown this Saturday, 12/14 from 12:00 - 2:00pm. Occupied units can be vacated prior to closing. The owner is NOT interested in selling separately at this time.

18. 2024-12-09
    listed $192,500 Active 957-char remark

    Show marketing remark (957 chars)

    Investing made easy! This 4 bedroom, 2 bathroom BRICK duplex is available, along with its sister property of 2413 N Bolton Ave. ($192,500 per duplex, $385,000 for both.) Each unit is a 2 bedroom, 1 bathroom. Complete rehab was completed within the last 5 years so the property features newer plumbing, HVAC, electrical, appliances, windows, and doors. Each unit has its own washer and dryer. In addition, there is plenty of off street parking for your tenants. The units are metered separately, including water. Tenants pay all utilities. This property is positioned to have minimal maintenance for many, many years to come. Unit 2417 is on a month-to-month lease and 2419 is vacant. Target rent of $950 per unit. Unit 2419 is "go & show". At this time, occupied units are only being shown this Saturday, 12/14 from 12:00 - 2:00pm. Occupied units can be vacated prior to closing. The owner is NOT interested in selling separately at this time.

19. 2019-02-28
    soldstatus $20,500
20. 2009-07-03
    historical
21. 2008-07-02
    listed $80,000

ⓘ 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: $3,708 · $309/mo
• Projected year-2 tax: $3,708 · $309/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 ≥101°F today · 18 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: $23,712
• − Mortgage interest: −$11,198
• − Property taxes: −$3,708
• − Insurance: −$1,000
• − Repairs & maintenance: −$1,897
• − Management: −$1,897
• − Depreciation: −$5,815
• Taxable loss: −$1,802
• Est. tax savings @ 24.0%: +$433
• After-tax cash flow: $1,878/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

+149.9% since first listed

7 events — show timeline

• 2026-05-22 Listed $199,900 MIBOR as Distributed by MLS Grid
• 2025-02-17 Sold (MLS) $191,000 MIBOR as Distributed by MLS Grid
• 2024-12-20 Pending — MIBOR as Distributed by MLS Grid
• 2024-12-09 Listed $192,500 MIBOR as Distributed by MLS Grid
• 2019-02-28 Sold (Public Records) $20,500 Public Records
• 2009-07-03 Listing Removed — MIBOR as Distributed by MLS Grid
• 2008-07-02 Listed $80,000 MIBOR as Distributed by MLS Grid

Property tax history

+9.8%/yr

Latest (2025): $3,708 · +11.3% YoY. Source: county tax records.