1007 W 5th St · Marion, IN 46953

$150,000

3 bd · 2.0 ba · 2,900 sqft · SingleFamily public records · 32 Days on market

Built 1930 5,412 sqft lot Est $128k · 18% over

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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 +19.2/30.0
• DSCR +6.1/10.0
• 1% rule +4.3/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.7/10.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

A Timeless Beauty situated in the Heart of Marion. So much space in this property that boasts original hardwood floors that have been wonderfully restored. High beamed ceilings flow throughout the great room and directly into the oversized dining area which is adorned with multiple sets of swinging french doors. A sunroom and a den will make for perfect relaxation spaces. Stained glass windows add some original aesthetic appeal to some of the rooms. The large front porch and the spacious back deck add additional space great for all your entertaining needs.

Key facts

• Craftsman style home
• Updated baths
• New paint

Tags

• CRAFTSMAN STYLE HOME
• COMPLETE OVERHAUL
• NEW PAINT
• NEW PLASTER
• UPDATED BATHS
• RECENTLY PAINTED CABINETS

Property features AI

Finance

• HOA & community: No association amenities

Exterior

• Parking: No designated parking
• Utilities: Public water; Public sewer; Cable available and connected; Electric and gas service
• Home design: Single-family residence; Site-built home; 2 stories
• Construction: Brick and wood siding exterior; Block foundation; Asphalt shingle roof; Built as a detached site-built home
• Exterior features: Covered porch; Porch; Privacy wood fencing; Level lot

Interior

• Kitchen: Gas range; Refrigerator
• Bedrooms: Master bedroom is on the main level
• Flooring: Hardwood; Carpet; Vinyl
• Bathrooms: 2 full bathrooms (both on the main level)
• Heating & cooling: Natural gas forced-air heating; Central air; Ceiling fans; Window AC units
• Interior features: Ceiling fans; Laminate countertops; Built-in features; Master suite on main level; Living room wood-burning fireplace
• Laundry & utility: Washer hookup on main level; Electric dryer hookup on main level; Washer; Dryer; Gas water heater

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $150k.

Deal economics

• At list price, monthly cash flow is $163 ($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 $139k (7.2% below list).
• Recommended offer: $139k (7.2% below list) — sets the bar for 1% rule.

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: 114 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).
• This rent runs 36% of the median local income ($46k/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 $1k of loan paydown is wiped out by about $4k 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.

Negotiation context

• It's been on market 32 days — a 3% lower offer ($146k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 6y 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 $115k; 30% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1930 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $139,130 (7.2% below list)

Questions for the listing agent

1. It's been on market 32 days. Have you received any prior offers? Is the seller open to a 7% concession, seller financing, or rate buy-down credit?
2. Built in 1930 — 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. 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?
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 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: 0.93% ✗
• Cap rate: 7.60%
• Cash-on-cash: 4.66%
• DSCR: 1.21
• GRM: 9.0

CMA / ARV

• ARV (on-the-fly): $127,600
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1112 W 6th St	0.08mi	3/2.0	2,700 (-7%)	16mo	$79,000	$29	72
608 W 3rd St	0.31mi	3/1.5	2,699 (-7%)	1mo	$67,000	$25	71
1136 W 3rd St	0.21mi	3/1.5	2,679 (-8%)	8mo	$117,000	$44	69
720 W 7th St	0.19mi	2/1.5 (-1)	2,808 (-3%)	15mo	$60,000	$21	67
620 W 6th St	0.23mi	4/2.0 (+1)	2,678 (-8%)	6mo	$105,000	$39	66
910 W Spencer Ave	0.44mi	4/2.5 (+1)	2,874 (-1%)	8mo	$175,000	$61	64
717 W Nelson St	0.36mi	2/1.5 (-1)	2,580 (-11%)	3mo	$56,549	$22	55
815 S Boots St	0.57mi	4/2.0 (+1)	3,070 (+6%)	15mo	$13,000	$4	47
614 W Nelson St	0.42mi	3/1.5	2,470 (-15%)	12mo	$122,000	$49	44
1101 W Jeffras Ave	0.54mi	3/2.0	2,634 (-9%)	19mo	$159,500	$61	44
718 W Spencer Ave	0.46mi	4/2.0 (+1)	2,532 (-13%)	17mo	$225,000	$89	38
721 W Jeffras Ave	0.56mi	3/3.5	3,273 (+13%)	12mo	$320,000	$98	36

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: -9.1%
• Equity multiple: 0.67×
• Total profit: $-13,970
• Equity at exit: $22,365

10-year hold

• IRR: 0.4%
• Equity multiple: 1.02×
• Total profit: $1,033
• Equity at exit: $12,969

Cash invested: $42,000 (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: 114
• Price-to-rent: 9.0×

Monthly cashflow live

• Estimated rent: $1,391 medium
• Mortgage (P&I): −$787
• Tax from tax record: −$87 /mo · $1,045/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$292
• Net cashflow: $163

Break-even live

Break-even rent $1,185

Max offer price $150,000

Occupancy floor 83%

Sensitivity live

Price	-10% $248	-5% $205	+0% $163	+5% $120	+10% $78
Rent	-10% $53	-5% $108	+0% $163	+5% $218	+10% $273
Rate	-1.0pp $238	-0.5pp $201	base $163	+0.5pp $124	+1.0pp $85

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: $37,500
• Closing costs: $4,500
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
511 W Buckingham Dr Marion, IN	3.0	2.0	1942	$2,000	$1.03	45d	1	1.05mi

Listing history 25 events

1. 2026-06-21
   days on market $150,000 Active 32 DOM
2. 2026-06-19
   days on market $150,000 Active 30 DOM
3. 2026-06-18
   days on market $150,000 Active 29 DOM
4. 2026-06-17
   days on market $150,000 Active 28 DOM
5. 2026-06-16
   days on market $150,000 Active 27 DOM
6. 2026-06-15
   days on market $150,000 Active 26 DOM
7. 2026-06-14
   days on market $150,000 Active 24 DOM
8. 2026-06-12
   days on market $150,000 Active 23 DOM
9. 2026-06-09
   days on market $150,000 Active 20 DOM
10. 2026-06-08
    days on market $150,000 Active 19 DOM
11. 2026-06-07
    days on market $150,000 Active 18 DOM
12. 2026-06-02
    days on market $150,000 Active 13 DOM
13. 2026-06-01
    days on market $150,000 Active 12 DOM
14. 2026-05-31
    days on market $150,000 Active 11 DOM
15. 2026-05-30
    days on market $150,000 Active 10 DOM
16. 2026-05-19
    listed $150,000 Active
17. 2023-10-02
    soldstatus $115,000 Closed 562-char remark

    Show marketing remark (562 chars)

    A Timeless Beauty situated in the Heart of Marion. So much space in this property that boasts original hardwood floors that have been wonderfully restored. High beamed ceilings flow throughout the great room and directly into the oversized dining area which is adorned with multiple sets of swinging french doors. A sunroom and a den will make for perfect relaxation spaces. Stained glass windows add some original aesthetic appeal to some of the rooms. The large front porch and the spacious back deck add additional space great for all your entertaining needs.

18. 2023-09-28
    status Pending 562-char remark

    Show marketing remark (562 chars)

    A Timeless Beauty situated in the Heart of Marion. So much space in this property that boasts original hardwood floors that have been wonderfully restored. High beamed ceilings flow throughout the great room and directly into the oversized dining area which is adorned with multiple sets of swinging french doors. A sunroom and a den will make for perfect relaxation spaces. Stained glass windows add some original aesthetic appeal to some of the rooms. The large front porch and the spacious back deck add additional space great for all your entertaining needs.

19. 2023-09-08
    historical Active Under Contract 562-char remark

    Show marketing remark (562 chars)

    A Timeless Beauty situated in the Heart of Marion. So much space in this property that boasts original hardwood floors that have been wonderfully restored. High beamed ceilings flow throughout the great room and directly into the oversized dining area which is adorned with multiple sets of swinging french doors. A sunroom and a den will make for perfect relaxation spaces. Stained glass windows add some original aesthetic appeal to some of the rooms. The large front porch and the spacious back deck add additional space great for all your entertaining needs.

20. 2023-09-05
    listed $115,000 Active 562-char remark

    Show marketing remark (562 chars)

    A Timeless Beauty situated in the Heart of Marion. So much space in this property that boasts original hardwood floors that have been wonderfully restored. High beamed ceilings flow throughout the great room and directly into the oversized dining area which is adorned with multiple sets of swinging french doors. A sunroom and a den will make for perfect relaxation spaces. Stained glass windows add some original aesthetic appeal to some of the rooms. The large front porch and the spacious back deck add additional space great for all your entertaining needs.

21. 2022-07-08
    soldstatus $100,000 Closed 148-char remark

    Show marketing remark (148 chars)

    Beautiful 1930's home, completely updated. Hardwood floors newly refinished, Carpet is new. Updated bath * kitchen. Wide hallway. Front sun porch.

22. 2022-06-15
    listed Active Under Contract 148-char remark

    Show marketing remark (148 chars)

    Beautiful 1930's home, completely updated. Hardwood floors newly refinished, Carpet is new. Updated bath * kitchen. Wide hallway. Front sun porch.

23. 2022-05-14
    listed $99,900 148-char remark

    Show marketing remark (148 chars)

    Beautiful 1930's home, completely updated. Hardwood floors newly refinished, Carpet is new. Updated bath * kitchen. Wide hallway. Front sun porch.

24. 2020-12-29
    soldstatus $26,000
25. 2020-09-29
    listed $26,000

ⓘ 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: $1,045 · $87/mo
• Projected year-2 tax: $1,160 · $97/mo
• Expected delta: +$115/yr (+$10/mo · 11.0%)

ⓘ 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: $16,696
• − Mortgage interest: −$8,402
• − Property taxes: −$1,045
• − Insurance: −$750
• − Repairs & maintenance: −$1,336
• − Management: −$1,336
• − Depreciation: −$4,364
• Taxable loss: −$537
• Est. tax savings @ 24.0%: +$129
• After-tax cash flow: $2,084/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

+476.9% since first listed

10 events — show timeline

• 2026-05-19 Listed $150,000 IRMLS
• 2023-10-02 Sold (MLS) $115,000 IRMLS
• 2023-09-28 Pending — IRMLS
• 2023-09-08 Contingent — IRMLS
• 2023-09-05 Listed $115,000 IRMLS
• 2022-07-08 Sold (MLS) $100,000 IRMLS
• 2022-06-15 Listed — IRMLS
• 2022-05-14 Listed $99,900 IRMLS
• 2020-12-29 Sold (MLS) $26,000 IRMLS
• 2020-09-29 Listed $26,000 IRMLS

Property tax history

-7.0%/yr

Latest (2025): $1,045 · -14.6% YoY. Source: county tax records.