807 E 29th St · Marion, IN 46953

$42,900

3 bd · 1.0 ba · 952 sqft · SingleFamily public records · 1 Days on market

Built 1905 5,968 sqft lot Est $80k · 46% 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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• 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

Great Opportunity for the Budget Minded Buyer! Great Starter Home or Rental Investment! This home has 3 Bedrooms, 1 Full Bath, Spacious Eat-in Kitchen w/ appliances that remain. Enclosed Porch leads to Oversized 2 Car Attached Garage. Full Chain Link Fenced Perimeter. Brand New Single Layer Roof! Immediate Possession! Selling As-Is. Cash or Conventional Financing Only.

Key facts

• 5,968 sq ft lot
• 2 garage spots
• Built 1905

Property features AI

Finance

• Other: Located in the Mendenhall(s) subdivision; Directions: Located on E. 29th Street between Waite Street & Home Avenue, on the north side of the street.
• HOA & community: No association amenities

Exterior

• Parking: Attached 2-car garage; Concrete driveway and off-street parking
• Utilities: Public water; Public sewer; Cable available
• Home design: Single-family residence; Site-built home; Single-story
• Construction: Aluminum siding; Asphalt shingle roof; Crawl space foundation; Built area above grade: 952
• Exterior features: Front porch; Level lot; Chain link full fencing; Asphalt road access

Interior

• Kitchen: Refrigerator; Gas range
• Bedrooms: Total rooms: 5 (bedroom count not specified separately)
• Flooring: Carpet; Vinyl
• Bathrooms: One full bathroom on the main level
• Heating & cooling: Natural gas forced-air heating; Ceiling fan(s) for cooling
• Interior features: Ceiling fans; Eat-in kitchen; Laminate countertops; Window treatments; One fireplace (no special features listed)
• Laundry & utility: Washer hookup; Electric dryer hookup; Laundry on the main level; Electric water heater

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $43k.

Deal economics

• At list price, monthly cash flow is $571 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $43k).
• Cap rate 22.3% 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: Frances Slocum Elem School (math 12% / reading 12%, grade F, #893 of 994 statewide, top 91%, 472 students, 81% 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).
• Market conditions: 112 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 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 $297 of loan paydown is wiped out by about $1k 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 $12k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 8y 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.

Risks & watch-outs

• Watch-outs: built in 1905 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $42,900

Questions for the listing agent

1. Built in 1905 — 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: 2.63% ✓
• Cap rate: 22.26%
• Cash-on-cash: 57.02%
• DSCR: 3.54
• GRM: 3.2

CMA / ARV

• ARV (on-the-fly): $79,968
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2910 S Brownlee St	0.12mi	3/1.0	1,015 (+7%)	10mo	$10,250	$10	75
1122 E 27th St	0.36mi	3/1.0	976 (+2%)	9mo	$108,500	$111	72
2722 S Home Ave	0.11mi	2/1.0 (-1)	868 (-9%)	6mo	$58,000	$67	70
8 Valley Ct	0.41mi	3/1.0	912 (-4%)	6mo	$122,000	$134	69
3011 S Koldyke Dr	0.53mi	3/1.0	1,008 (+6%)	2mo	$45,000	$45	64
3507 S Allegheny Ave	0.57mi	3/1.0	1,008 (+6%)	3mo	$100,000	$99	61
3216 S Overman St	0.27mi	2/1.0 (-1)	880 (-8%)	10mo	$75,000	$85	61
1521 E 33rd St	0.62mi	3/1.0	896 (-6%)	2mo	$75,000	$84	60
3235 S Koldyke Dr	0.62mi	3/1.0	1,024 (+8%)	2mo	$75,000	$73	57
1607 E 33rd St	0.67mi	3/1.0	1,000 (+5%)	6mo	$44,900	$45	55
2114 S Branson St	0.56mi	3/1.5	1,000 (+5%)	10mo	$120,000	$120	55
2701 S Washington St	0.45mi	2/1.0 (-1)	852 (-10%)	8mo	$25,500	$30	50

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: 55.5%
• Equity multiple: 3.45×
• Total profit: $29,435
• Equity at exit: $6,397

10-year hold

• IRR: 60.5%
• Equity multiple: 7.04×
• Total profit: $72,573
• Equity at exit: $3,709

Cash invested: $12,012 (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 46953

• Home prices YoY: -23.4%
• Active inventory: 112
• Price-to-rent: 3.2×

Monthly cashflow live

• Estimated rent: $1,129 medium
• Mortgage (P&I): −$225
• Tax from tax record: −$78 /mo · $936/yr
• Insurance: −$18
• HOA: −$0
• Vacancy / Maint / Mgmt: −$237
• Net cashflow: $571

Break-even live

Break-even rent $406

Max offer price $42,900

Occupancy floor 44%

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: $10,725
• Closing costs: $1,287
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
703 E 28th St Marion, IN	2.0	1.0	1085	$1,200	$1.11	43d	1	0.12mi

Listing history 2 events

1. 2026-06-07
   remarks 371-char remark
2. 2026-06-07
   listed $42,900 Pending 1 DOM

ⓘ 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: $936 · $78/mo
• Projected year-2 tax: $936 · $78/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 2/10 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 · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $13,544
• − Mortgage interest: −$2,403
• − Property taxes: −$936
• − Insurance: −$214
• − Repairs & maintenance: −$1,084
• − Management: −$1,084
• − Depreciation: −$1,248
• Taxable income: $6,575
• Est. tax owed @ 24.0%: −$1,578
• After-tax cash flow: $5,271/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): 23,372
• Household income: $46,288
• Rent vs Own: 32.2% rent · 67.8% own
• Severe rent burden: 597.0

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 (77%)
• Race & ethnicity: White 77% Black 10% Two or more races 9% Hispanic / Latino 6%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Italian 3% Iranian 1% Slovak 1%
• Foreign-born: 2% · 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: ▼ -52.47%
• Current HPI: 171.7246
• 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

+43.5% since first listed

3 events — show timeline

• 2026-06-05 Pending — IRMLS
• 2026-06-04 Listed $42,900 IRMLS
• 2018-07-14 Listed $29,900 IRMLS

Property tax history

+9.0%/yr

Latest (2025): $936 · +9.6% YoY. Source: county tax records.