4949 Crittenden Ave · Indianapolis city (balance), IN 46205

$189,900

3 bd · 2.0 ba · 1,840 sqft · SingleFamily public records · 3 Days on market

Built 1929 5,184 sqft lot Est $283k · 33% under ↓ 21% since listing

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Why this score? — see what drove the C+ 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 +23.9/30.0
• ARV discount +15.0/15.0
• DSCR +7.7/10.0
• 1% rule +6.3/10.0
• Rent growth +4.1/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.4/10.0
• Appreciation +0.0/10.0

Listing remarks

ATTENTION EXPERIENCED INVESTORS. .. this one is just for you!! 3 bed/2 bath FIXER in desirable South Broad Ripple features spacious ensuite primary bedroom/bath upstairs plus 2 bedroom/1 bathroom on the main level. Assessor says 2,736 total SF, including unfinished basement but seller believes it is about 2,300 SF. This property has a 2-car detached garage. Lot adjacent to the south is not included and does not convey, but . 12 acre lot is very standard in this neighborhood. Don't miss the unique fireplace and hardwoods worth refinishing. Smaller renovated properties in the immediate area easily comp from $330K - $340K. Many of these homes have bedrooms and bathrooms in basement. CASH buye

Key facts

• Close to restaurants
• Close to monon trail
• Unique fireplace

Tags

• ENSUITE PRIMARY BEDROOM
• UNIQUE FIREPLACE
• HARDWOODS WORTH REFINISHING
• CLOSE TO MONON TRAIL
• CLOSE TO 54TH STREET SHOPS
• CLOSE TO RESTAURANTS

Property features AI

Exterior

• Parking: Detached 2-car garage
• Utilities: Public water; Municipal sewer connected; Municipal solid waste service
• Home design: Single-family residence; One and one-half stories; Less than 1/4 acre lot
• Construction: Aluminum siding; Block foundation
• Exterior features: Covered patio/porch; Full yard fence

Interior

• Kitchen: Eat-in kitchen
• Bedrooms: Three bedrooms total — two on the main level, one on the upper level
• Flooring: Hardwood floors
• Bathrooms: Two full bathrooms — one on the main level, one on the upper level
• Heating & cooling: Forced air heating; Natural gas heating; No central cooling
• Interior features: Hardwood floors; Eat-in kitchen
• Laundry & utility: Basement (unfinished)

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $190k.

Deal economics

• At list price, monthly cash flow is $368 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $190k).
• Cap rate 8.6% 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 C — 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 rising fast (+6.2%/yr); 314 active listings in the ZIP; 26 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 1,906 units permitted in Marion County in 2024 (621 in 5+ unit buildings).
• This rent runs 36% of the median local income ($72k/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 $6k 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 + 6.2% rent growth), your $53k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1929 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $189,900

Questions for the listing agent

1. Built in 1929 — 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: 1.13% ✓
• Cap rate: 8.62%
• Cash-on-cash: 8.32%
• DSCR: 1.37
• GRM: 7.4

CMA / ARV

• ARV (on-the-fly): $283,360
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
4840 Crittenden Ave	0.13mi	3/1.5	1,830 (-0%)	1mo	$274,900	$150	90
5020 Evanston Ave	0.04mi	3/2.0	1,934 (+5%)	2mo	$340,000	$176	88
5218 Kingsley Dr	0.31mi	2/2.0 (-1)	1,852 (+1%)	1mo	$285,000	$154	78
4711 Crittenden Ave	0.16mi	3/2.0	2,070 (+12%)	0mo	$275,000	$133	71
4534 Norwaldo Ave	0.35mi	3/1.0	1,728 (-6%)	1mo	$145,000	$84	69
4549 Caroline Ave	0.35mi	3/2.5	1,683 (-8%)	0mo	$297,000	$176	67
5513 Indianola Ave	0.74mi	3/2.0	1,828 (-1%)	1mo	$417,500	$228	64
5121 Rosslyn Ave	0.33mi	2/2.0 (-1)	1,664 (-10%)	1mo	$200,000	$120	63
5124 Primrose Ave	0.30mi	3/1.0	1,592 (-14%)	0mo	$240,000	$151	59
5220 N Ralston Ave	0.36mi	2/1.0 (-1)	1,640 (-11%)	1mo	$263,900	$161	55
5364 Primrose Ave	0.52mi	2/1.0 (-1)	1,716 (-7%)	0mo	$259,000	$151	55
4850 Carvel Ave	0.66mi	3/1.5	1,650 (-10%)	1mo	$275,000	$167	49

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 · 6.21% rent growth · sell at horizon

5-year hold

• IRR: -0.1%
• Equity multiple: 1.00×
• Total profit: $-114
• Equity at exit: $28,315

10-year hold

• IRR: 12.7%
• Equity multiple: 2.16×
• Total profit: $61,627
• Equity at exit: $16,419

Cash invested: $53,172 (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 46205

• Rents YoY: 6.2%
• Active inventory: 314
• Price-to-rent: 7.4×

Monthly cashflow live

• Estimated rent: $2,145 high
• Mortgage (P&I): −$996
• Tax from tax record: −$251 /mo · $3,013/yr
• Insurance: −$79
• HOA: −$0
• Vacancy / Maint / Mgmt: −$450
• Net cashflow: $368

Break-even live

Break-even rent $1,679

Max offer price $189,900

Occupancy floor 78%

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: $47,475
• Closing costs: $5,697
• Reserves months: —
• Total cash needed: —

Rent comps 26 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5110 Norwaldo Ave Unit 1537772P Indianapolis, IN	2.0	2.5	1797	$3,651	$2.03	2d	1	0.13mi
4812 Norwaldo Ave Indianapolis, IN	3.0	2.5	1536	$1,995	$1.30	23d	1	0.15mi
5301 Evanston Ct Indianapolis, IN	3.0	2.0	2111	$3,099	$1.47	3d	1	0.43mi
4448 Evanston Ave Unit B Indianapolis, IN	2.0	1.5	1500	$1,400	$0.93	43d	1	0.43mi
4448 Evanston Ave Unit B Indianapolis, IN	2.0	1.5	1500	$1,275	$0.85	22d	1	0.43mi
1414 E 46th St Indianapolis, IN	3.0	2.0	2155	$1,800	$0.84	43d	1	0.44mi
5316 Primrose Ave Indianapolis, IN	2.0	1.0	1646	$1,550	$0.94	43d	1	0.47mi
5220 Luzzane Dr Indianapolis, IN	1.0–3.0	1.0–2.0	1046	$1,920	$1.83	16d	19	0.51mi
5380 Primrose Ave Indianapolis, IN	2.0	2.0	2002	$2,250	$1.12	43d	1	0.55mi
4301 Crittenden Ave Indianapolis, IN	2.0	1.0	1376	$1,350	$0.98	43d	1	0.63mi
5601 Ralston Ave Unit B Indianapolis, IN	4.0	3.0	2000	$2,200	$1.10	23d	1	0.80mi
2606 E 56th St Indianapolis, IN	3.0	2.0	2304	$2,295	$1.00	23d	1	0.91mi
2631 Northview Ave Indianapolis, IN	3.0	2.0	2460	$1,850	$0.75	43d	1	0.95mi
4704 N College Ave Indianapolis, IN	3.0	1.5	2049	$1,695	$0.83	14d	1	0.96mi
5845 Brouse Ave Indianapolis, IN	3.0	2.0	2200	$2,395	$1.09	17d	1	1.13mi
5846 N Keystone Ave Indianapolis, IN	3.0	2.0	1671	$2,000	$1.20	20d	1	1.16mi
5245 Central Ave Indianapolis, IN	2.0	1.0	2332	$1,475	$0.63	14d	1	1.19mi
5875 N Keystone Ave Indianapolis, IN	2.0	2.0	1352	$1,675	$1.24	4d	1	1.28mi
4073 N College Ave Indianapolis, IN	2.0	2.5	2000	$2,500	$1.25	43d	1	1.30mi
4071 N College Ave Indianapolis, IN	2.0	2.5	2000	$2,200	$1.10	4d	1	1.30mi
2221 E 38th St Indianapolis, IN	2.0	1.0	1728	$999	$0.58	14d	1	1.32mi
4040 N College Ave Indianapolis, IN	3.0	1.5	1280	$1,900	$1.48	7d	1	1.36mi
3736 Kinnear Ave Indianapolis, IN	3.0	2.0	2180	$1,450	$0.67	43d	1	1.37mi
4115 Meadows Dr Indianapolis, IN	1.0–3.0	1.0–2.0	1013	$1,592	$1.57	43d	9	1.37mi
6015 Norwaldo Ave Indianapolis, IN	3.0	2.0	2086	$2,300	$1.10	23d	1	1.41mi
5946 Haverford Ave Indianapolis, IN	3.0	2.0	1904	$1,800	$0.95	23d	1	1.43mi

Listing history 3 events

1. 2026-06-02
   status $189,900 Pending 3 DOM
2. 2026-06-01
   days on market $189,900 Active 3 DOM
3. 2026-05-31
   days on market $189,900 Active 2 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: $3,013 · $251/mo
• Projected year-2 tax: $3,013 · $251/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 ≥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: $25,739
• − Mortgage interest: −$10,637
• − Property taxes: −$3,013
• − Insurance: −$950
• − Repairs & maintenance: −$2,059
• − Management: −$2,059
• − Depreciation: −$5,524
• Taxable income: $1,497
• Est. tax owed @ 24.0%: −$359
• After-tax cash flow: $4,062/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): 28,259
• Household income: $72,417
• Rent vs Own: 46.3% rent · 53.7% own
• Severe rent burden: 1149.0

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 0.64)
• Race & ethnicity: White 50% Black 32% Two or more races 10% Hispanic / Latino 7% Asian 3%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Italian 3% Slovak 2% Romanian 2%
• Foreign-born: 5% · Canada
• Languages at home: 89% English-only · Spanish 6% Other Indo-European 2% German/W. Germanic 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: ▼ -322.77%
• Current HPI: 380.5407
• Rent YoY: ▲ 6.21%
• 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

-20.9% since first listed

2 events — show timeline

• 2026-05-30 Listed $189,900 MIBOR as Distributed by MLS Grid
• 2022-09-26 Sold (Public Records) $240,000 Public Records

Property tax history

+1.9%/yr

Latest (2025): $3,013 · +8.8% YoY. Source: county tax records.