3245 Blue Ash Ln · Indianapolis city (balance), IN 46239

$259,000

4 bd · 2.5 ba · 1,992 sqft · SingleFamily public records · 11 Days on market

Built 2001 7,405 sqft lot Est $255k · at est. $25/mo HOA · 1% of rent

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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 +13.8/30.0
• ARV discount +6.8/15.0
• DSCR +4.2/10.0
• Rent growth +4.0/5.0
• Schools +4.0/10.0
• 1% rule +3.3/10.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

This is a 2-story property in Wanamaker neighborhood. Lots of value in this terrific home with 4 bedrooms and 2.5 baths, a nice-sized kitchen with oven/range and refrigerator included, a separate dining room, 2 car attached garage, and a large backyard - perfect for outside entertaining.

Key facts

• Laminate flooring
• Porcelain floors
• Granite countertops

Tags

• HARDWOOD BAMBOO FLOORING
• LAMINATE FLOORING
• PORCELAIN FLOORS
• GOURMET EAT-IN KITCHEN
• GRANITE COUNTERTOPS
• STAINLESS STEEL APPLIANCES

Property features AI

Finance

• HOA & community: Homeowners association (annual fee $300); Community amenities: clubhouse, pool, playground, park, management, landscaping, jogging path

Exterior

• Parking: Attached garage; 2-car garage; Garage faces front; Driveway with concrete surface; Additional off-street parking; Garage door opener
• Security: Security system; Carbon monoxide detectors; Fire alarm
• Utilities: Public water; Public sewer; 200+ amp electrical service with circuit breakers; Electricity connected; Cable available
• Home design: Two-story home; Built in 2001
• Construction: Brick and vinyl siding exterior; Shingle roof; Assessor-reported lot size
• Exterior features: Private yard; Fenced backyard with chain link fence; Front porch; Rear porch; Garage structure on property; No significant view

Interior

• Kitchen: Stainless steel appliances; Refrigerator; Range / Electric range / Electric cooktop; Dishwasher; Disposal; Eat-in kitchen with granite counters
• Bedrooms: Primary bedroom; Three additional bedrooms
• Flooring: Hardwood; Tile; Laminate
• Bathrooms: 2 full bathrooms; 1 half bathroom
• Heating & cooling: Central heating; Central air; Ceiling fans
• Interior features: Ceiling fans; Walk-in closets; Recessed lighting; Granite counters; Eat-in kitchen
• Laundry & utility: Main level laundry room; Washer and dryer included; Electric dryer hookup

What this means for you Summary

Snapshot

• This is a 4-bed/2.5-bath single-family listed at $259k.

Deal economics

• At list price, monthly cash flow is $21 ($258/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 $215k (16.9% below list).
• Recommended offer: $215k (16.9% below list) — sets the bar for 1% rule.
• Cap rate 6.4% 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 D — affects rentability + tenant quality, not the cash-flow math above.
• Franklin Township Community School Corporation (urban): math 42% / reading 47% proficiency, ranked #87 of 301 in IN (top 29%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Franklin Central Junior High (math 31% / reading 40%, grade F, #162 of 330 statewide, top 49%, 1,711 students, 51% FRL); Franklin Central High School (math 41% / reading 69%, grade C, #77 of 369 statewide, top 21%, 3,319 students, 46% FRL) — zoned schools average 48% FRL vs 29% district-wide (20 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising fast (+6.1%/yr); 337 active listings in the ZIP; 12 comparable units currently listed for rent nearby; rentals at typical pace (median 14d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 1,906 units permitted in Marion County in 2024 (621 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $8k 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

• Only 11 days on market — expect competitive offers; lowballing is unlikely to land.
• 7 sale attempts since 22y 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 $215,132 (16.9% below list)

Questions for the listing agent

1. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
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: 0.83% ✗
• Cap rate: 6.39%
• Cash-on-cash: 0.36%
• DSCR: 1.02
• GRM: 10.0

CMA / ARV

• ARV (on-the-fly): $254,976
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3245 Blue Ash Ln	0.00mi	4/2.5	1,992 (0%)	0mo	$260,000	$131	100
3307 Blue Ash	0.06mi	4/2.5	1,980 (-1%)	10mo	$232,000	$117	88
8238 Spring Wind Dr	0.27mi	4/2.5	2,035 (+2%)	2mo	$248,000	$122	82
8517 Sweet Birch Dr	0.12mi	4/2.5	1,980 (-1%)	14mo	$256,000	$129	82
8019 Fisher Bend Dr	0.47mi	3/2.5 (-1)	2,070 (+4%)	1mo	$265,000	$128	66
3710 Laurel Cherry Ln	0.60mi	4/2.5	1,992 (0%)	10mo	$263,000	$132	64
3406 Cork Bend Dr	0.67mi	3/2.5 (-1)	2,034 (+2%)	8mo	$208,500	$103	54
7816 Danube St	0.70mi	4/2.5	2,152 (+8%)	1mo	$285,000	$132	53
7871 Danube St	0.61mi	3/2.5 (-1)	2,152 (+8%)	6mo	$260,000	$121	48
8048 Grove Berry Dr	0.45mi	4/2.5	1,732 (-13%)	14mo	$245,000	$141	46
7906 States Bend Ln	0.63mi	3/2.5 (-1)	1,792 (-10%)	10mo	$212,500	$119	41
3422 Brandenburg Blvd	0.74mi	3/2.5 (-1)	1,792 (-10%)	7mo	$210,000	$117	38

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 · 6.11% rent growth · sell at horizon

5-year hold

• IRR: -12.5%
• Equity multiple: 0.54×
• Total profit: $-33,697
• Equity at exit: $38,618

10-year hold

• IRR: 0.5%
• Equity multiple: 1.04×
• Total profit: $2,634
• Equity at exit: $22,394

Cash invested: $72,520 (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 46239

• Home prices YoY: -29.2%
• Rents YoY: 6.1%
• Active inventory: 337
• Price-to-rent: 10.0×

Monthly cashflow live

• Estimated rent: $2,151 high
• Mortgage (P&I): −$1,358
• Tax from tax record: −$187 /mo · $2,243/yr
• Insurance: −$108
• HOA: −$25
• Vacancy / Maint / Mgmt: −$452
• Net cashflow: $21

Break-even live

Break-even rent $2,124

Max offer price $259,000

Occupancy floor 94%

Sensitivity live

Price	-10% $168	-5% $95	+0% $21	+5% $-52	+10% $-125
Rent	-10% $-148	-5% $-64	+0% $21	+5% $106	+10% $191
Rate	-1.0pp $152	-0.5pp $87	base $21	+0.5pp $-46	+1.0pp $-114

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: $64,750
• Closing costs: $7,770
• Reserves months: —
• Total cash needed: —

Rent comps 12 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
8114 Grove Berry Dr Indianapolis, IN	4.0	2.5	2323	$2,126	$0.92	9d	1	0.40mi
3718 Laurel Cherry Ln Indianapolis, IN	3.0	2.0	1368	$1,695	$1.24	25d	1	0.59mi
7939 Wildwood Farms Ln Indianapolis, IN	4.0	2.5	2126	$1,695	$0.80	14d	1	0.60mi
3203 Brandenburg Dr Indianapolis, IN	4.0	2.5	1486	$1,869	$1.26	4d	1	0.77mi
3149 Brandenburg Dr Indianapolis, IN	4.0	2.5	1486	$1,885	$1.27	5d	1	0.77mi
2825 Ludwig Dr Indianapolis, IN	4.0	2.0	1500	$2,056	$1.37	25d	1	0.79mi
2837 Ludwig Dr Indianapolis, IN	4.0	2.5	2569	$2,165	$0.84	0d	1	0.80mi
3143 Danube Way Indianapolis, IN	3.0	2.5	1792	$2,050	$1.14	3d	1	0.88mi
4127 S Post Rd Indianapolis, IN	3.0	2.0	1460	$1,585	$1.09	25d	1	0.97mi
4225 Tiana Cir Indianapolis, IN	3.0	2.0	1946	$2,071	$1.06	14d	1	1.03mi
8017 Grand Gulch Dr Indianapolis, IN	3.0	2.5	2128	$2,120	$1.00	9d	1	1.09mi
7650 Lara Lee Dr Indianapolis, IN	4.0	2.0	1696	$2,039	$1.20	25d	1	1.30mi

HOA detail

• Monthly dues: $25 · $300/yr

Listing history 21 events

1. 2026-05-07
   status Pending
2. 2026-04-26
   listed $259,000 Active
3. 2026-04-26
   historical
4. 2026-03-30
   price $259,000
5. 2026-03-12
   price $268,000
6. 2025-11-20
   listed $270,000 Active
7. 2023-05-31
   soldstatus $230,000 Closed 289-char remark

   Show marketing remark (289 chars)

   This is a 2-story property in Wanamaker neighborhood. Lots of value in this terrific home with 4 bedrooms and 2.5 baths, a nice-sized kitchen with oven/range and refrigerator included, a separate dining room, 2 car attached garage, and a large backyard - perfect for outside entertaining.

8. 2023-04-20
   status Pending 289-char remark

   Show marketing remark (289 chars)

   This is a 2-story property in Wanamaker neighborhood. Lots of value in this terrific home with 4 bedrooms and 2.5 baths, a nice-sized kitchen with oven/range and refrigerator included, a separate dining room, 2 car attached garage, and a large backyard - perfect for outside entertaining.

9. 2023-04-20
   status Active 289-char remark

   Show marketing remark (289 chars)

   This is a 2-story property in Wanamaker neighborhood. Lots of value in this terrific home with 4 bedrooms and 2.5 baths, a nice-sized kitchen with oven/range and refrigerator included, a separate dining room, 2 car attached garage, and a large backyard - perfect for outside entertaining.

10. 2023-04-20
    price $235,000 289-char remark

    Show marketing remark (289 chars)

    This is a 2-story property in Wanamaker neighborhood. Lots of value in this terrific home with 4 bedrooms and 2.5 baths, a nice-sized kitchen with oven/range and refrigerator included, a separate dining room, 2 car attached garage, and a large backyard - perfect for outside entertaining.

11. 2023-03-03
    status Pending 289-char remark

    Show marketing remark (289 chars)

    This is a 2-story property in Wanamaker neighborhood. Lots of value in this terrific home with 4 bedrooms and 2.5 baths, a nice-sized kitchen with oven/range and refrigerator included, a separate dining room, 2 car attached garage, and a large backyard - perfect for outside entertaining.

12. 2022-12-02
    price $229,000 289-char remark

    Show marketing remark (289 chars)

    This is a 2-story property in Wanamaker neighborhood. Lots of value in this terrific home with 4 bedrooms and 2.5 baths, a nice-sized kitchen with oven/range and refrigerator included, a separate dining room, 2 car attached garage, and a large backyard - perfect for outside entertaining.

13. 2022-11-04
    price $232,000 289-char remark

    Show marketing remark (289 chars)

    This is a 2-story property in Wanamaker neighborhood. Lots of value in this terrific home with 4 bedrooms and 2.5 baths, a nice-sized kitchen with oven/range and refrigerator included, a separate dining room, 2 car attached garage, and a large backyard - perfect for outside entertaining.

14. 2022-10-11
    listed $239,900 Active 289-char remark

    Show marketing remark (289 chars)

    This is a 2-story property in Wanamaker neighborhood. Lots of value in this terrific home with 4 bedrooms and 2.5 baths, a nice-sized kitchen with oven/range and refrigerator included, a separate dining room, 2 car attached garage, and a large backyard - perfect for outside entertaining.

15. 2006-08-18
    soldstatus $101,500
16. 2006-05-30
    listed $114,900
17. 2005-09-14
    historical
18. 2005-08-22
    soldstatus $117,500
19. 2005-01-11
    historical
20. 2004-09-14
    listed $117,500
21. 2004-07-13
    listed $124,900

ⓘ 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: $2,243 · $187/mo
• Projected year-2 tax: $2,243 · $187/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 · 19 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $25,816
• − Mortgage interest: −$14,508
• − Property taxes: −$2,243
• − Insurance: −$1,295
• − Repairs & maintenance: −$2,065
• − Management: −$2,065
• − HOA: −$300
• − Depreciation: −$7,535
• Taxable loss: −$4,196
• Est. tax savings @ 24.0%: +$1,007
• After-tax cash flow: $1,264/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: Franklin Township Community School Corporation
• NCES district ID: 1803750
• Math proficiency: 42% ▼ -12.00%
• Reading proficiency: 47% ▼ -6.00%
• Median HH income: $67,825
• Composite: 39.91/100
• National rank: #3852
• State rank: #87 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): 33,931
• Household income: $100,331
• Rent vs Own: 17.6% rent · 82.4% own
• Severe rent burden: 567.0

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: Diverse neighborhood (Simpson 0.61)
• Race & ethnicity: White 57% Black 24% Hispanic / Latino 9% Two or more races 9% Asian 4%
• Hispanic origin (detail): Mexican 6%
• Common ancestry: Lithuanian 2% Slovak 2% Romanian 1%
• Foreign-born: 7% · Canada, Philippines, China
• Languages at home: 89% English-only · Spanish 6% Other Indo-European 2% Chinese 1%

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: ▼ -93.15%
• Current HPI: 226.1965
• Rent YoY: ▲ 6.11%
• 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

+107.4% since first listed

21 events — show timeline

• 2026-05-07 Pending — NIRA MLS as Distributed by MLS Grid
• 2026-04-26 Listed $259,000 NIRA MLS as Distributed by MLS Grid
• 2026-04-26 Listing Removed — NIRA MLS as Distributed by MLS Grid
• 2026-03-30 Price Changed $259,000 NIRA MLS as Distributed by MLS Grid
• 2026-03-12 Price Changed $268,000 NIRA MLS as Distributed by MLS Grid
• 2025-11-20 Listed $270,000 NIRA MLS as Distributed by MLS Grid
• 2023-05-31 Sold (MLS) $230,000 MIBOR as Distributed by MLS Grid
• 2023-04-20 Pending — MIBOR as Distributed by MLS Grid
• 2023-04-20 Relisted — MIBOR as Distributed by MLS Grid
• 2023-04-20 Price Changed $235,000 MIBOR as Distributed by MLS Grid
• 2023-03-03 Pending — MIBOR as Distributed by MLS Grid
• 2022-12-02 Price Changed $229,000 MIBOR as Distributed by MLS Grid
• 2022-11-04 Price Changed $232,000 MIBOR as Distributed by MLS Grid
• 2022-10-11 Listed $239,900 MIBOR as Distributed by MLS Grid
• 2006-08-18 Sold (MLS) $101,500 MIBOR as Distributed by MLS Grid
• 2006-05-30 Listed $114,900 MIBOR as Distributed by MLS Grid
• 2005-09-14 Listing Removed — MIBOR as Distributed by MLS Grid
• 2005-08-22 Sold (Public Records) $117,500 Public Records
• 2005-01-11 Listing Removed — MIBOR as Distributed by MLS Grid
• 2004-09-14 Listed $117,500 MIBOR as Distributed by MLS Grid
• 2004-07-13 Listed $124,900 MIBOR as Distributed by MLS Grid

Property tax history

+5.9%/yr

Latest (2025): $2,243 · -3.5% YoY. Source: county tax records.