2839 Eastern Ave · Indianapolis city (balance), IN 46218

$99,900

3 bd · 1.0 ba · 900 sqft · SingleFamily public records · 164 Days on market

Built 1940 6,055 sqft lot $111/sqft · 44% below area Est $180k · 44% under

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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
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +7.6/10.0
• 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

Welcome to this charming 3-bedroom, 1-bath home-move-in ready! Enjoy a comfortable layout and a welcoming exterior that make the property feel instantly inviting. Perfect as a starter home or a solid investment opportunity. The garage located to the south of the home is not part of the property.

Key facts

• 6,055 sq ft lot
• Built 1940
• Listed 164 days

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $100k.

Deal economics

• At list price, monthly cash flow is $375 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $100k).
• Recommended offer: $88k (12.0% below list) — sets the bar for market timing.
• Cap rate 10.8% 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 flat; 334 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 22d 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 40% 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 $691 of loan paydown is wiped out by about $3k 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 + 0.8% rent growth), your $28k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 164 days — a 12% lower offer ($88k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 15y 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 $68k; 47% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1940 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $87,912 (12.0% below list)

Questions for the listing agent

1. It's been on market 164 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1940 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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.
6. 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.
7. 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: 1.26% ✓
• Cap rate: 10.80%
• Cash-on-cash: 16.09%
• DSCR: 1.72
• GRM: 6.6

CMA / ARV

• ARV (median comp): $179,654
• List price: $99,900
• Delta: -44.39%
• 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
2818 N Lasalle St	0.36mi	3/2.0	875 (-3%)	2mo	$195,000	$223	73
3038 Baltimore Ave	0.52mi	2/1.0 (-1)	924 (+3%)	4mo	$98,500	$107	63
2929 Manlove Ave	0.52mi	3/1.0	960 (+7%)	2mo	$139,000	$145	63
2951 Hillside Ave	0.35mi	3/2.0	980 (+9%)	3mo	$156,000	$159	63
2347 N Rural St	0.49mi	2/1.0 (-1)	864 (-4%)	4mo	$50,000	$58	62
2942 N Dearborn St	0.31mi	2/1.0 (-1)	825 (-8%)	7mo	$70,000	$85	60
2601 Manlove Ave	0.56mi	3/1.0	972 (+8%)	1mo	$174,900	$180	59
3015 Adams St	0.49mi	2/1.0 (-1)	819 (-9%)	9mo	$155,000	$189	50
2319 N Rural St	0.54mi	3/1.0	984 (+9%)	11mo	$117,000	$119	50
2839 N Lasalle St	0.38mi	2/1.0 (-1)	768 (-15%)	5mo	$55,000	$72	48
2426 Lasalle St	0.54mi	2/1.0 (-1)	984 (+9%)	9mo	$95,000	$97	47
2808 Sangster Ave	0.60mi	3/1.0	1,028 (+14%)	3mo	$100,000	$97	46

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: 4.7%
• Equity multiple: 1.18×
• Total profit: $4,969
• Equity at exit: $14,895

10-year hold

• IRR: 12.2%
• Equity multiple: 1.87×
• Total profit: $24,349
• Equity at exit: $8,638

Cash invested: $27,972 (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: 334
• Price-to-rent: 6.6×

Monthly cashflow live

• Estimated rent: $1,256 high
• Mortgage (P&I): −$524
• Tax from tax record: −$52 /mo · $619/yr
• Insurance: −$42
• HOA: −$0
• Vacancy / Maint / Mgmt: −$264
• Net cashflow: $375

Break-even live

Break-even rent $781

Max offer price $99,900

Occupancy floor 65%

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: $24,975
• Closing costs: $2,997
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2931 N Tacoma Ave Unit 31 Indianapolis, IN	2.0	1.0	800	$950	$1.19	7d	1	0.16mi
2906 N Lasalle St Indianapolis, IN	4.0	1.0	1032	$950	$0.92	23d	1	0.37mi
2920 N Lasalle St Indianapolis, IN	3.0	1.0	875	$1,095	$1.25	18d	1	0.37mi
2820 Caroline Ave Indianapolis, IN	3.0	1.5	1112	$1,250	$1.12	23d	1	0.40mi
2949 Adams St Indianapolis, IN	2.0	1.0	978	$1,150	$1.18	44d	1	0.48mi
2010 E 25th St Indianapolis, IN	2.0	1.0	792	$775	$0.98	23d	1	0.51mi
2722 N Olney St Indianapolis, IN	2.0	1.0	650	$795	$1.22	44d	1	0.58mi
2410 Adams St Indianapolis, IN	3.0	1.0	900	$1,200	$1.33	10d	1	0.59mi
2372 Beckwith Dr Indianapolis, IN	4.0	1.0–1.5	779	$1,206	$1.55	1d	32	0.65mi
3363 Nicholas Ave Indianapolis, IN	2.0	1.0	720	$1,000	$1.39	4d	1	0.80mi
3472 N Dearborn St Indianapolis, IN	2.0	1.0	890	$1,099	$1.23	20d	1	0.87mi
3535 N Oxford St Indianapolis, IN	3.0	1.0	1015	$1,500	$1.48	22d	1	0.92mi
2045 N Dearborn St Indianapolis, IN	3.0	2.0	912	$1,145	$1.26	23d	1	0.92mi
3207 N Arsenal Ave Indianapolis, IN	3.0	1.0	994	$1,195	$1.20	23d	1	0.92mi
3421 N Olney St Indianapolis, IN	2.0	1.0	720	$1,195	$1.66	16d	1	0.96mi
3920 E 30th St Indianapolis, IN	3.0	1.0	1071	$1,350	$1.26	4d	1	0.97mi
3920 E 30th St Indianapolis, IN	3.0	1.0	1071	$1,350	$1.26	7d	1	0.97mi
2862 N Chester Ave Indianapolis, IN	3.0	2.0	1076	$1,520	$1.41	44d	1	0.98mi
3383 Station St Indianapolis, IN	3.0	1.0	744	$1,250	$1.68	23d	1	0.99mi
2549 Columbia Ave Unit 1332865P Indianapolis, IN	3.0	2.0	893	$2,274	$2.55	2d	1	1.01mi
1902 E 35th St Indianapolis, IN	3.0	1.0	1100	$1,600	$1.45	44d	1	1.03mi
3132 Dr Andrew J Brown Ave Indianapolis, IN	2.0	1.0–2.0	791	$2,120	$2.68	2d	46	1.04mi
3522 N Olney St Indianapolis, IN	3.0	1.0	768	$1,300	$1.69	44d	1	1.04mi
2815 Brookside Ave Indianapolis, IN	3.0	2.0	1120	$1,350	$1.21	10d	1	1.06mi
2864 Forest Manor Ave Indianapolis, IN	3.0	1.0	1018	$1,500	$1.47	23d	1	1.06mi
2841 E 19th St Indianapolis, IN	2.0	1.0	812	$850	$1.05	4d	1	1.11mi
3741 N Tacoma Ave Indianapolis, IN	3.0	1.0	913	$2,200	$2.41	18d	1	1.15mi
3709 Kinnear Ave Indianapolis, IN	2.0	1.0	650	$1,000	$1.54	44d	1	1.17mi
2827 E 18th St Indianapolis, IN	2.0	1.0	726	$1,300	$1.79	23d	1	1.18mi
3139 Guilford Ave Indianapolis, IN	3.0	1.0	1068	$1,345	$1.26	44d	1	1.19mi
3149 N Gladstone Ave Indianapolis, IN	3.0	1.5	1036	$1,350	$1.30	7d	1	1.22mi
3203 Sutherland Ave Unit 1310761P Indianapolis, IN	2.0	1.0	1097	$3,668	$3.34	2d	1	1.27mi
2529 Guilford Ave Unit A Indianapolis, IN	2.0	1.5	1000	$1,495	$1.50	44d	1	1.29mi
3142 N Euclid Ave Indianapolis, IN	3.0	1.0	1050	$1,050	$1.00	44d	1	1.31mi
3725 N Sherman Dr #7 Indianapolis, IN	2.0	1.0	729	$845	$1.16	4d	1	1.39mi
2405 E 16th St Indianapolis, IN	3.0	1.0	1120	$1,450	$1.29	14d	1	1.41mi
4615 E 30th St Indianapolis, IN	2.0	1.0	660	$1,100	$1.67	23d	1	1.41mi
2932 Arthington Blvd Indianapolis, IN	3.0	1.0	900	$1,350	$1.50	23d	1	1.42mi
3315 N Euclid Ave Indianapolis, IN	2.0	1.0	780	$1,300	$1.67	14d	1	1.44mi
3615 Sherman Forest Dr Indianapolis, IN	4.0	1.0–2.5	1057	$1,544	$1.46	4d	1	1.45mi

Listing history 25 events

1. 2026-06-18
   days on market $99,900 Active 164 DOM
2. 2026-06-17
   days on market $99,900 Active 163 DOM
3. 2026-06-16
   days on market $99,900 Active 162 DOM
4. 2026-06-15
   days on market $99,900 Active 161 DOM
5. 2026-06-13
   days on market $99,900 Active 159 DOM
6. 2026-06-13
   days on market $99,900 Active 158 DOM
7. 2026-06-09
   days on market $99,900 Active 155 DOM
8. 2026-06-08
   days on market $99,900 Active 154 DOM
9. 2026-06-07
   days on market $99,900 Active 153 DOM
10. 2026-06-03
    days on market $99,900 Active 149 DOM
11. 2026-06-02
    days on market $99,900 Active 148 DOM
12. 2026-06-01
    days on market $99,900 Active 147 DOM
13. 2026-05-31
    days on market $99,900 Active 146 DOM
14. 2026-05-11
    status Active 296-char remark

    Show marketing remark (296 chars)

    Welcome to this charming 3-bedroom, 1-bath home-move-in ready! Enjoy a comfortable layout and a welcoming exterior that make the property feel instantly inviting. Perfect as a starter home or a solid investment opportunity. The garage located to the south of the home is not part of the property.

15. 2026-04-09
    status Pending 296-char remark

    Show marketing remark (296 chars)

    Welcome to this charming 3-bedroom, 1-bath home-move-in ready! Enjoy a comfortable layout and a welcoming exterior that make the property feel instantly inviting. Perfect as a starter home or a solid investment opportunity. The garage located to the south of the home is not part of the property.

16. 2025-12-04
    listed $99,900 Active 296-char remark

    Show marketing remark (296 chars)

    Welcome to this charming 3-bedroom, 1-bath home-move-in ready! Enjoy a comfortable layout and a welcoming exterior that make the property feel instantly inviting. Perfect as a starter home or a solid investment opportunity. The garage located to the south of the home is not part of the property.

17. 2020-07-10
    soldstatus $68,000
18. 2020-06-26
    soldstatus $68,000 Sold 312-char remark

    Show marketing remark (312 chars)

    A cute, 3 bedroom, former rental property ready for new owners. Home has an oversized 2 car garage with room for a workshop, a private fenced in backyard and a spacious front lawn. Move-in ready; it could continue as a rental or would make a lovely owner-occupied home. Available on contract to qualified buyers.

19. 2020-06-01
    status Pending 312-char remark

    Show marketing remark (312 chars)

    A cute, 3 bedroom, former rental property ready for new owners. Home has an oversized 2 car garage with room for a workshop, a private fenced in backyard and a spacious front lawn. Move-in ready; it could continue as a rental or would make a lovely owner-occupied home. Available on contract to qualified buyers.

20. 2020-05-27
    status Active 312-char remark

    Show marketing remark (312 chars)

    A cute, 3 bedroom, former rental property ready for new owners. Home has an oversized 2 car garage with room for a workshop, a private fenced in backyard and a spacious front lawn. Move-in ready; it could continue as a rental or would make a lovely owner-occupied home. Available on contract to qualified buyers.

21. 2020-04-16
    historical 312-char remark

    Show marketing remark (312 chars)

    A cute, 3 bedroom, former rental property ready for new owners. Home has an oversized 2 car garage with room for a workshop, a private fenced in backyard and a spacious front lawn. Move-in ready; it could continue as a rental or would make a lovely owner-occupied home. Available on contract to qualified buyers.

22. 2020-03-06
    price $69,000 312-char remark

    Show marketing remark (312 chars)

    A cute, 3 bedroom, former rental property ready for new owners. Home has an oversized 2 car garage with room for a workshop, a private fenced in backyard and a spacious front lawn. Move-in ready; it could continue as a rental or would make a lovely owner-occupied home. Available on contract to qualified buyers.

23. 2020-02-25
    listed $74,900 Active 312-char remark

    Show marketing remark (312 chars)

    A cute, 3 bedroom, former rental property ready for new owners. Home has an oversized 2 car garage with room for a workshop, a private fenced in backyard and a spacious front lawn. Move-in ready; it could continue as a rental or would make a lovely owner-occupied home. Available on contract to qualified buyers.

24. 2011-09-25
    historical
25. 2011-03-27
    listed $45,900

ⓘ 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: $619 · $52/mo
• Projected year-2 tax: $734 · $61/mo
• Expected delta: +$115/yr (+$10/mo · 18.6%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone X (unshaded) · 57% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥102°F today · 18 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: $15,071
• − Mortgage interest: −$5,596
• − Property taxes: −$619
• − Insurance: −$500
• − Repairs & maintenance: −$1,206
• − Management: −$1,206
• − Depreciation: −$2,906
• Taxable income: $3,040
• Est. tax owed @ 24.0%: −$729
• After-tax cash flow: $3,772/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

+117.6% since first listed

12 events — show timeline

• 2026-05-11 Relisted — MIBOR as Distributed by MLS Grid
• 2026-04-09 Pending — MIBOR as Distributed by MLS Grid
• 2025-12-04 Listed $99,900 MIBOR as Distributed by MLS Grid
• 2020-07-10 Sold (Public Records) $68,000 Public Records
• 2020-06-26 Sold (MLS) $68,000 MIBOR as Distributed by MLS Grid
• 2020-06-01 Pending — MIBOR as Distributed by MLS Grid
• 2020-05-27 Relisted — MIBOR as Distributed by MLS Grid
• 2020-04-16 Listing Removed — MIBOR as Distributed by MLS Grid
• 2020-03-06 Price Changed $69,000 MIBOR as Distributed by MLS Grid
• 2020-02-25 Listed $74,900 MIBOR as Distributed by MLS Grid
• 2011-09-25 Listing Removed — MIBOR as Distributed by MLS Grid
• 2011-03-27 Listed $45,900 MIBOR as Distributed by MLS Grid

Property tax history

-3.4%/yr

Latest (2025): $619 · +6.1% YoY. Source: county tax records.