4050 Byram Ave · Indianapolis city (balance), IN 46208

$209,900

4 bd · 1.5 ba · 1,767 sqft · SingleFamily public records · 85 Days on market

Built 1972 5,009 sqft lot Est $277k · 24% under

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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 +20.5/30.0
• ARV discount +15.0/15.0
• DSCR +6.5/10.0
• 1% rule +5.2/10.0
• 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 MLS

This bi-level home offers 4 bedrooms, 2 full baths, and Living & family rooms. ****Interior of home has MOLD***** Please submit your offer with proof of funds and copy of earnest money. Subject to seller addendum and mold addendum.(O-CIT24)

Key facts

• Bi-level home
• Fresh paint
• Brand new kitchen

Tags

• BI-LEVEL HOME
• BRAND NEW KITCHEN
• FRESH PAINT
• NEW FLOORING
• LARGE LIVING AREAS
• PRIVATE BACK YARD

What this means for you Summary

Snapshot

• This is a 4-bed/1.5-bath single-family listed at $210k.

Deal economics

• At list price, monthly cash flow is $276 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $210k).
• Recommended offer: $197k (6.0% below list) — sets the bar for market timing.
• Cap rate 7.9% 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 (+6.4%/yr); 279 active listings in the ZIP; 26 comparable units currently listed for rent nearby; rentals at typical pace (median 18d 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 43% of the median local income ($60k/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 + 6.4% rent growth), your $59k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 85 days — a 6% lower offer ($197k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 21y ago; this cycle's ask has dropped $25k (11%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $29k; list at $210k implies a 624% gain — meaningful room to come down on a strong offer.

Recommended offer $197,306 (6.0% below list)

Questions for the listing agent

1. It's been on market 85 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1972 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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.
6. 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.
7. 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: 1.02% ✓
• Cap rate: 7.87%
• Cash-on-cash: 5.64%
• DSCR: 1.25
• GRM: 8.2

CMA / ARV

• ARV (on-the-fly): $277,419
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
4031 Rookwood Ave	0.13mi	3/1.5 (-1)	1,898 (+7%)	1mo	$269,000	$142	76
530 W 41st St	0.08mi	3/2.5 (-1)	1,618 (-8%)	3mo	$345,000	$213	70
3933 Byram Ave	0.12mi	3/2.0 (-1)	1,848 (+5%)	13mo	$220,000	$119	69
4123 Graceland Ave	0.39mi	3/2.5 (-1)	1,803 (+2%)	2mo	$375,000	$208	68
4125 Rookwood Ave	0.17mi	3/3.0 (-1)	1,872 (+6%)	13mo	$365,000	$195	60
637 Berkley Rd	0.33mi	3/1.0 (-1)	1,848 (+5%)	13mo	$235,000	$127	59
4068 Graceland Ave	0.35mi	3/1.5 (-1)	1,862 (+5%)	14mo	$292,000	$157	58
324 Northern Ave	0.31mi	3/1.0 (-1)	2,002 (+13%)	1mo	$195,000	$97	56
3554 Graceland Ave	0.71mi	3/1.5 (-1)	1,772 (+0%)	9mo	$225,000	$127	54
3626 N Capitol Ave	0.69mi	4/2.5	1,632 (-8%)	11mo	$261,500	$160	42
3704 Graceland Ave	0.57mi	3/1.0 (-1)	1,509 (-15%)	10mo	$115,000	$76	33
3658 Graceland Ave	0.60mi	3/2.5 (-1)	1,502 (-15%)	12mo	$250,000	$166	28

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 · 6.43% rent growth · sell at horizon

5-year hold

• IRR: -3.8%
• Equity multiple: 0.85×
• Total profit: $-8,764
• Equity at exit: $31,297

10-year hold

• IRR: 9.3%
• Equity multiple: 1.83×
• Total profit: $48,772
• Equity at exit: $18,148

Cash invested: $58,772 (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 46208

• Rents YoY: 6.4%
• Active inventory: 279
• Price-to-rent: 8.2×

Monthly cashflow live

• Estimated rent: $2,145 high
• Mortgage (P&I): −$1,101
• Tax from tax record: −$230 /mo · $2,761/yr
• Insurance: −$87
• HOA: −$0
• Vacancy / Maint / Mgmt: −$450
• Net cashflow: $276

Break-even live

Break-even rent $1,795

Max offer price $209,900

Occupancy floor 82%

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: $52,475
• Closing costs: $6,297
• Reserves months: —
• Total cash needed: —

Rent comps 26 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4117 Byram Ave Indianapolis, IN	4.0	2.0	1540	$1,930	$1.25	44d	1	0.09mi
324 W 41st St Indianapolis, IN	4.0	1.0	2566	$1,400	$0.55	24d	1	0.27mi
731 W 43rd St Indianapolis, IN	4.0	4.0	1600	$3,350	$2.09	18d	1	0.28mi
528 W 43rd St Indianapolis, IN	4.0	2.0	2080	$2,750	$1.32	3d	1	0.30mi
3827 Graceland Ave Indianapolis, IN	4.0	2.0	2195	$1,595	$0.73	44d	1	0.50mi
206 W 43rd St Indianapolis, IN	3.0	2.5	1544	$2,500	$1.62	24d	1	0.51mi
3622 N Capitol Ave Indianapolis, IN	3.0	1.0	1300	$1,300	$1.00	8d	1	0.72mi
4623 Rookwood Ave Indianapolis, IN	3.0	3.5	1792	$3,200	$1.79	16d	1	0.72mi
3655 N Kenwood Ave Indianapolis, IN	4.0	2.0	1700	$1,700	$1.00	24d	1	0.73mi
3621 N Kenwood Ave Indianapolis, IN	3.0	1.5	1521	$1,599	$1.05	3d	1	0.77mi
3801 N Meridian St Indianapolis, IN	1.0–3.0	1.0–2.0	1057	$2,022	$1.91	20d	35	0.81mi
4631 Graceland Ave Indianapolis, IN	4.0	2.0	2019	$2,900	$1.44	3d	1	0.81mi
143 W 35th St Indianapolis, IN	3.0	1.0	1235	$1,175	$0.95	8d	1	0.88mi
3457 N Illinois St Indianapolis, IN	3.0	2.0	1230	$1,145	$0.93	24d	1	0.97mi
4022 Central Ave Indianapolis, IN	3.0	1.0	1288	$1,500	$1.16	22d	1	1.06mi
402 W 52nd St Indianapolis, IN	3.0	2.5	1328	$2,200	$1.66	14d	1	1.20mi
3160 Graceland Ave Indianapolis, IN	4.0	2.0	1936	$2,000	$1.03	24d	1	1.23mi
1061 W 33rd St Indianapolis, IN	3.0	2.0	2400	$1,550	$0.65	44d	1	1.24mi
3851 Broadway St Indianapolis, IN	3.0	1.0	1513	$1,950	$1.29	18d	1	1.30mi
4040 N College Ave Indianapolis, IN	3.0	1.5	1280	$1,900	$1.48	8d	1	1.31mi
3031 Boulevard Pl Indianapolis, IN	3.0	1.5	1395	$1,450	$1.04	18d	1	1.35mi
1331 W 34th St Indianapolis, IN	4.0	2.0	2160	$1,800	$0.83	15d	1	1.35mi
648 W 30th St Indianapolis, IN	3.0	2.0	1300	$1,500	$1.15	24d	1	1.36mi
3103 N Meridian St Indianapolis, IN	3.0	2.0	1280	$1,775	$1.39	24d	1	1.43mi
3078 N Pennsylvania St Indianapolis, IN	3.0	3.5	2440	$3,050	$1.25	3d	1	1.46mi
4704 N College Ave Indianapolis, IN	3.0	1.5	2049	$1,695	$0.83	14d	1	1.49mi

Listing history 7 events

1. 2024-12-06
   status Pending
2. 2024-11-19
   price $209,900
3. 2024-10-22
   price $214,900
4. 2024-10-01
   price $224,900
5. 2024-09-11
   listed $234,900 Active
6. 2005-11-28
   soldstatus $29,000 247-char remark

   Show marketing remark (247 chars)

   This bi-level home offers 4 bedrooms, 2 full baths, and Living & family rooms. ****Interior of home has MOLD***** Please submit your offer with proof of funds and copy of earnest money. Subject to seller addendum and mold addendum.(O-CIT24)

7. 2005-07-13
   listed $34,900 247-char remark

   Show marketing remark (247 chars)

   This bi-level home offers 4 bedrooms, 2 full baths, and Living & family rooms. ****Interior of home has MOLD***** Please submit your offer with proof of funds and copy of earnest money. Subject to seller addendum and mold addendum.(O-CIT24)

ⓘ 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: $2,761 · $230/mo
• Projected year-2 tax: $2,761 · $230/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 4/10 Moderate 7 d/yr ≥101°F today · 19 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: $25,736
• − Mortgage interest: −$11,758
• − Property taxes: −$2,761
• − Insurance: −$1,050
• − Repairs & maintenance: −$2,059
• − Management: −$2,059
• − Depreciation: −$6,106
• Taxable loss: −$56
• Est. tax savings @ 24.0%: +$13
• After-tax cash flow: $3,326/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): 22,379
• Household income: $60,062
• Rent vs Own: 44.1% rent · 55.9% own
• Severe rent burden: 978.0

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 0.62)
• Race & ethnicity: White 46% Black 40% Hispanic / Latino 8% Two or more races 6% Asian 2%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Romanian 2% Slovak 2% Italian 1%
• Foreign-born: 4% · Canada
• Languages at home: 93% English-only · Spanish 5% French/Haitian/Cajun 1% Other Indo-European 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: ▼ -324.63%
• Current HPI: 319.7725
• Rent YoY: ▲ 6.43%
• 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

+501.4% since first listed

7 events — show timeline

• 2024-12-06 Pending — MIBOR as Distributed by MLS Grid
• 2024-11-19 Price Changed $209,900 MIBOR as Distributed by MLS Grid
• 2024-10-22 Price Changed $214,900 MIBOR as Distributed by MLS Grid
• 2024-10-01 Price Changed $224,900 MIBOR as Distributed by MLS Grid
• 2024-09-11 Listed $234,900 MIBOR as Distributed by MLS Grid
• 2005-11-28 Sold (MLS) $29,000 MIBOR as Distributed by MLS Grid
• 2005-07-13 Listed $34,900 MIBOR as Distributed by MLS Grid

Property tax history

+6.3%/yr

Latest (2025): $2,761 · +17.0% YoY. Source: county tax records.