3329 N Downey Ave · Indianapolis city (balance), IN 46218

$75,000

3 bd · 1.0 ba · 1,008 sqft · SingleFamily public records · 1 Days on market

Built 1971 5,445 sqft lot Est $119k · 37% 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
• 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

Investor Alert | Prime opportunity in a desirable Warren Township location. Welcome to 3329 N. Downey Avenue, an urban residential area on the northeast side of Indianapolis. This 1971 ranch-style cottage is full of potential and ready for its next chapter. Featuring 3 bedrooms, 1 bathroom, and 1,008 sq ft of living space, this single-family home presents an excellent opportunity for investors or buyers ready to bring their vision to life. The home offers a classic ranch-style layout with vinyl siding and original hardwood flooring, providing a solid foundation for renovation. The property includes a gravel driveway with additional street parking, no garage, and no central air. It is conven

Key facts

• Vinyl siding
• Gravel driveway
• 5,445 sq ft lot

Tags

• CLASSIC RANCH-STYLE LAYOUT
• VINYL SIDING
• ORIGINAL HARDWOOD FLOORING
• GRAVEL DRIVEWAY
• EASY ACCESS TO INTERSTATE 70
• EASY ACCESS TO INTERSTATE 465

Property features AI

Finance

• Other: Property listed in fixer condition

Exterior

• Parking: Gravel parking
• Utilities: Public water; Municipal sewer connected; Electricity connected; Standard solid waste service
• Home design: Single-family residence; One story
• Construction: Vinyl siding; Crawl space foundation
• Exterior features: No fence; Lot smaller than 1/4 acre (approximately 0.13 acre)

Interior

• Kitchen: Electric oven; Refrigerator; Eat-in kitchen layout (19x9)
• Bedrooms: Three bedrooms on the main level (sizes include 10x9 and 9x9; additional bedroom dimensions 12x9)
• Bathrooms: One full bathroom on the main level
• Heating & cooling: Natural gas heating; No central air
• Interior features: Attic access; Eat-in kitchen
• Laundry & utility: Laundry closet

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $75k.

Deal economics

• At list price, monthly cash flow is $567 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $75k).
• Cap rate 15.4% 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 24d 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 $519 of loan paydown is wiped out by about $2k 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 $21k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.

Recommended offer $75,000

Questions for the listing agent

1. Built in 1971 — 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. 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.
4. 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.
5. 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: 1.74% ✓
• Cap rate: 15.36%
• Cash-on-cash: 32.38%
• DSCR: 2.44
• GRM: 4.8

CMA / ARV

• ARV (on-the-fly): $118,944
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
5415 E 34th St	0.12mi	2/1.0 (-1)	908 (-10%)	2mo	$107,000	$118	71
3125 N Bancroft St	0.44mi	3/1.0	936 (-7%)	3mo	$156,000	$167	65
2937 Kristen Dr E	0.47mi	3/1.0	936 (-7%)	2mo	$185,000	$198	65
5660 E 34th St	0.36mi	3/1.5	1,104 (+10%)	4mo	$115,000	$104	62
3614 N Whittier Pl	0.42mi	3/2.0	912 (-10%)	3mo	$171,999	$189	58
5765 E 35th St	0.48mi	3/1.0	888 (-12%)	1mo	$146,000	$164	57
3119 N Dequincy St	0.58mi	2/1.0 (-1)	1,079 (+7%)	3mo	$95,000	$88	54
3536 N Priscilla Ct	0.59mi	3/1.0	1,102 (+9%)	5mo	$133,500	$121	52
3112 N Bolton Ave	0.58mi	3/1.0	1,120 (+11%)	2mo	$88,000	$79	52
3715 N Irvington Ave	0.53mi	4/1.0 (+1)	1,104 (+10%)	5mo	$120,000	$109	50
4850 E 34th St	0.60mi	2/1.0 (-1)	1,125 (+12%)	5mo	$95,000	$84	43
3011 N Bolton Ave	0.64mi	2/1.0 (-1)	876 (-13%)	1mo	$98,000	$112	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: 25.0%
• Equity multiple: 2.01×
• Total profit: $21,106
• Equity at exit: $11,183

10-year hold

• IRR: 31.5%
• Equity multiple: 3.56×
• Total profit: $53,726
• Equity at exit: $6,485

Cash invested: $21,000 (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 46218

• Home prices YoY: -17.1%
• Rents YoY: 0.8%
• Active inventory: 334
• Price-to-rent: 4.8×

Monthly cashflow live

• Estimated rent: $1,308 high
• Mortgage (P&I): −$393
• Tax from tax record: −$42 /mo · $507/yr
• Insurance: −$31
• HOA: −$0
• Vacancy / Maint / Mgmt: −$275
• Net cashflow: $567

Break-even live

Break-even rent $591

Max offer price $75,000

Occupancy floor 52%

Sensitivity live

Price	-10% $609	-5% $588	+0% $567	+5% $545	+10% $524
Rent	-10% $463	-5% $515	+0% $567	+5% $618	+10% $670
Rate	-1.0pp $604	-0.5pp $586	base $567	+0.5pp $547	+1.0pp $527

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: $18,750
• Closing costs: $2,250
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3319 N Hawthorne Ln Indianapolis, IN	3.0	1.0	1084	$1,100	$1.01	24d	1	0.09mi
3301 Mardenna Ave Indianapolis, IN	3.0	1.0	925	$1,200	$1.30	44d	1	0.23mi
3070 N Layman Ave #1 Indianapolis, IN	3.0	2.0	1480	$1,700	$1.15	44d	1	0.31mi
3516 N Hawthorne Ln Indianapolis, IN	3.0	1.0	925	$1,225	$1.32	5d	1	0.34mi
3316 N Emerson Ave Indianapolis, IN	3.0	1.0	912	$1,100	$1.21	24d	1	0.38mi
3636 N Whittier Pl Indianapolis, IN	3.0	1.0	912	$995	$1.09	8d	1	0.48mi
2703 Kristen Dr E Indianapolis, IN	3.0	1.0	1155	$1,700	$1.47	44d	1	0.59mi
3639 N Emerson Ave Indianapolis, IN	4.0	1.0	1000	$1,450	$1.45	22d	1	0.61mi
3332 Wallace Ave Indianapolis, IN	3.0	1.0	936	$1,600	$1.71	24d	1	0.65mi
3718 N Audubon Rd Indianapolis, IN	3.0	1.0	875	$1,300	$1.49	24d	1	0.66mi
3167 Shick Dr Indianapolis, IN	4.0	1.0	1141	$2,350	$2.06	44d	1	0.72mi
3815 N Grand Ave Unit 3815 Indianapolis, IN	2.0	1.0	965	$1,250	$1.30	5d	1	0.77mi
2950 N Dequincy St Indianapolis, IN	3.0	1.0	888	$1,375	$1.55	14d	1	0.78mi
3836 Priscilla Ave Indianapolis, IN	3.0	1.5	1040	$1,275	$1.23	2d	1	0.87mi
3315 N Euclid Ave Indianapolis, IN	2.0	1.0	780	$1,300	$1.67	15d	1	0.88mi
2932 Arthington Blvd Indianapolis, IN	3.0	1.0	900	$1,350	$1.50	24d	1	0.88mi
3142 N Euclid Ave Indianapolis, IN	3.0	1.0	1050	$1,050	$1.00	44d	1	0.94mi
3734 Manor Ct Indianapolis, IN	3.0	1.0	1414	$1,399	$0.99	8d	1	0.98mi
4320 E 30th St Indianapolis, IN	3.0	1.5	1152	$1,195	$1.04	24d	1	1.00mi
3149 N Gladstone Ave Indianapolis, IN	3.0	1.5	1036	$1,350	$1.30	8d	1	1.04mi
5602 Glencoe St Indianapolis, IN	3.0	1.0	1000	$1,749	$1.75	18d	1	1.06mi
2404 N Lesley Ave Indianapolis, IN	2.0	1.0	763	$850	$1.11	44d	1	1.06mi
2308 N Ritter Ave Apt 24 Indianapolis, IN	2.0	1.0	725	$825	$1.14	21d	1	1.09mi
3912 N Webster Ave Indianapolis, IN	4.0	1.0	1274	$1,350	$1.06	22d	1	1.10mi
2312 N Ritter Ave Apt 31 Indianapolis, IN	2.0	1.0	725	$825	$1.14	22d	1	1.10mi
2302 N Ritter Ave Indianapolis, IN	2.0	1.0	725	$788	$1.09	8d	2	1.10mi
2304 N Ritter Ave Apt 9 Indianapolis, IN	2.0	1.0	725	$799	$1.10	21d	1	1.11mi
2419 N Bolton Ave Indianapolis, IN	2.0	1.0	768	$950	$1.24	8d	1	1.17mi
2819 N Gladstone Ave Indianapolis, IN	4.0	2.0	1261	$1,450	$1.15	44d	1	1.18mi
5923 E 24th St Indianapolis, IN	2.0	1.0	816	$950	$1.16	18d	1	1.20mi
2864 Forest Manor Ave Indianapolis, IN	3.0	1.0	1018	$1,500	$1.47	24d	1	1.23mi
2194 N Riley Ave Indianapolis, IN	3.0	1.0	1100	$1,749	$1.59	44d	1	1.28mi
3920 E 30th St Indianapolis, IN	3.0	1.0	1071	$1,350	$1.26	5d	1	1.28mi
3920 E 30th St Indianapolis, IN	3.0	1.0	1071	$1,350	$1.26	8d	1	1.28mi
2862 N Chester Ave Indianapolis, IN	3.0	2.0	1076	$1,520	$1.41	44d	1	1.31mi
5130 E 21st St Indianapolis, IN	3.0	2.0	1188	$1,500	$1.26	44d	1	1.38mi
5130 E 21st St Indianapolis, IN	3.0	2.0	1188	$1,500	$1.26	24d	1	1.38mi
5119 E 21st St Indianapolis, IN	2.0	1.0	816	$1,199	$1.47	44d	1	1.41mi
3383 Station St Indianapolis, IN	3.0	1.0	744	$1,250	$1.68	24d	1	1.44mi
5242 E 20th Pl Indianapolis, IN	2.0	1.0	720	$1,050	$1.46	8d	1	1.45mi

Listing history 2 events

1. 2026-05-05
   status Pending
2. 2026-05-04
   listed $75,000 Active

ⓘ 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: $507 · $42/mo
• Projected year-2 tax: $572 · $48/mo
• Expected delta: +$65/yr (+$5/mo · 12.8%)

ⓘ 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 (shaded) · 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 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: $15,699
• − Mortgage interest: −$4,201
• − Property taxes: −$507
• − Insurance: −$375
• − Repairs & maintenance: −$1,256
• − Management: −$1,256
• − Depreciation: −$2,182
• Taxable income: $5,922
• Est. tax owed @ 24.0%: −$1,421
• After-tax cash flow: $5,379/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

2 events — show timeline

• 2026-05-05 Pending — MIBOR as Distributed by MLS Grid
• 2026-05-04 Listed $75,000 MIBOR as Distributed by MLS Grid

Property tax history

+26.8%/yr

Latest (2025): $507 · +6.0% YoY. Source: county tax records.