3450 Ralston Ave · Indianapolis city (balance), IN 46218

$83,000

2 bd · 1.0 ba · 676 sqft · SingleFamily public records · 37 Days on market

Built 1980 Est $108k · 23% 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 +28.3/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +6.8/10.0
• 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 MLS

2 Bedroom, 1 bathroom home needs some TLC. Subject is corporate owned being sold in 'as-is' condition. Must submit proof of funds or pre-approval letter w/offer. If financing involved, pre-approval letter from seller br anch required. See agent remarks.

Key facts

• Fenced yard
• Full basement
• Built 1980

Tags

• FULL BASEMENT
• DETACHED 2 CAR GARAGE
• FENCED YARD

Property features AI

Exterior

• Home design: Built in 1980
• Construction: Living area approximately 676
• Exterior features: Located in the Meadows subdivision

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $83k.

Deal economics

• At list price, monthly cash flow is $266 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($977 rent vs $83k).
• Recommended offer: $81k (3.0% below list) — sets the bar for market timing.
• Cap rate 10.1% 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 31% 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 $574 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.

Negotiation context

• It's been on market 37 days — a 3% lower offer ($81k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 19y 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 $12k; list at $83k implies a 622% gain — meaningful room to come down on a strong offer.

Recommended offer $80,510 (3.0% below list)

Questions for the listing agent

1. It's been on market 37 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
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: 1.18% ✓
• Cap rate: 10.14%
• Cash-on-cash: 13.73%
• DSCR: 1.61
• GRM: 7.1

CMA / ARV

• ARV (on-the-fly): $108,160
• Comps found: 4

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3331 Orchard Ave	0.26mi	2/1.0	720 (+6%)	14mo	$115,000	$160	66
3274 Ralston Ave	0.29mi	2/1.0	625 (-8%)	17mo	$81,869	$131	60
3105 N Tacoma Ave	0.75mi	2/1.0	696 (+3%)	10mo	$137,500	$198	52
3031 Orchard Ave	0.58mi	2/1.0	624 (-8%)	18mo	$50,000	$80	45

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: 1.6%
• Equity multiple: 1.06×
• Total profit: $1,351
• Equity at exit: $12,376

10-year hold

• IRR: 9.0%
• Equity multiple: 1.63×
• Total profit: $14,598
• Equity at exit: $7,176

Cash invested: $23,240 (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: 7.1×

Monthly cashflow live

• Estimated rent: $977 high
• Mortgage (P&I): −$435
• Tax from tax record: −$36 /mo · $434/yr
• Insurance: −$35
• HOA: −$0
• Vacancy / Maint / Mgmt: −$205
• Net cashflow: $266

Break-even live

Break-even rent $641

Max offer price $83,000

Occupancy floor 68%

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: $20,750
• Closing costs: $2,490
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3363 Nicholas Ave Indianapolis, IN	2.0	1.0	720	$1,000	$1.39	4d	1	0.30mi
3723 Orchard Ave Unit 3723 Indianapolis, IN	1.0	1.5	700	$1,300	$1.86	23d	1	0.31mi
3519 Balsam Ave Unit 7 Indianapolis, IN	1.0	1.0	450	$850	$1.89	23d	1	0.32mi
3519 Balsam Ave Unit 6 Indianapolis, IN	1.0	1.0	450	$775	$1.72	43d	1	0.32mi
3709 Kinnear Ave Indianapolis, IN	2.0	1.0	650	$1,000	$1.54	43d	1	0.33mi
3609 Balsam Ave Indianapolis, IN	1.0	1.0	541	$775	$1.43	3d	1	0.38mi
3609 Balsam Ave Indianapolis, IN	1.0	1.0	541	$755	$1.40	14d	1	0.38mi
3610 Balsam Ave Indianapolis, IN	1.0	1.0	464	$775	$1.67	3d	9	0.40mi
3763 Baltimore Ave Unit 3765 Indianapolis, IN	1.0	1.0	750	$750	$1.00	43d	1	0.48mi
1040 Fairfield Ave Unit 104011 Indianapolis, IN	1.0	1.0	519	$799	$1.54	23d	1	0.50mi
3719 Hillside Ave Indianapolis, IN	1.0	1.0	644	$725	$1.13	23d	1	0.51mi
3132 Dr Andrew J Brown Ave Indianapolis, IN	2.0	1.0–2.0	791	$2,120	$2.68	2d	46	0.55mi
2846 Doctor Andrew J Brown Ave Indianapolis, IN	1.0	1.0	420	$700	$1.67	43d	1	0.84mi
636 E 37th St Unit 5 Indianapolis, IN	2.0	1.0	700	$695	$0.99	23d	1	0.85mi
633 E 38th St #4 Indianapolis, IN	3.0	1.0	650	$1,050	$1.62	43d	1	0.87mi
3603 Washington Blvd Indianapolis, IN	1.0	1.0	519	$775	$1.49	3d	1	1.08mi
3836 Central Ave Indianapolis, IN	1.0	1.0	600	$1,125	$1.88	23d	1	1.10mi
2519 Baltimore Ave Unit B Indianapolis, IN	2.0	1.0	482	$775	$1.61	23d	1	1.14mi
2930 N Dearborn St Indianapolis, IN	1.0	1.0	536	$599	$1.12	23d	1	1.22mi
2530 N Temple Ave Indianapolis, IN	1.0	1.0	720	$750	$1.04	20d	1	1.25mi
3671 N Pennsylvania St Indianapolis, IN	2.0	1.0	725	$794	$1.10	20d	1	1.25mi
3524 N Pennsylvania St Indianapolis, IN	2.0	1.0	725	$872	$1.20	3d	4	1.28mi
3421 N Olney St Indianapolis, IN	2.0	1.0	720	$1,195	$1.66	16d	1	1.29mi
2372 Beckwith Dr Indianapolis, IN	4.0	1.0–1.5	779	$1,064	$1.36	1d	32	1.31mi
57 E 38th St Indianapolis, IN	1.0	1.0	750	$770	$1.03	2d	4	1.32mi
4560 Marcy Ln Indianapolis, IN	1.0–2.0	1.0	770	$1,565	$2.03	14d	8	1.34mi
4525 Indianola Ave Indianapolis, IN	1.0	1.0	480	$774	$1.61	4d	1	1.35mi
3601 N Meridian St Indianapolis, IN	1.0	1.0	700	$775	$1.11	23d	1	1.35mi
2821 Oxford Ln Indianapolis, IN	1.0	1.0	640	$825	$1.29	43d	1	1.36mi
3707 N Meridian St Indianapolis, IN	2.0	1.0–2.0	1042	$1,199	$1.15	43d	1	1.36mi
3801 N Meridian St Indianapolis, IN	1.0–3.0	1.0–2.0	1057	$1,474	$1.39	20d	35	1.39mi
3640 N Meridian St Unit 11 Indianapolis, IN	1.0	1.0	700	$699	$1.00	43d	1	1.41mi
3640 N Meridian St Unit 13 Indianapolis, IN	1.0	1.0	700	$699	$1.00	23d	1	1.41mi
3540 N Meridian St Indianapolis, IN	1.0	1.0	757	$789	$1.04	4d	3	1.41mi
3726 N Meridian St Apt 33 Indianapolis, IN	1.0	1.0	725	$750	$1.03	23d	1	1.41mi
3340 N Meridian St Unit 3340-302 Indianapolis, IN	1.0	1.0	650	$855	$1.32	20d	1	1.42mi
3710 N Meridian St Indianapolis, IN	2.0	1.0–2.0	670	$969	$1.45	2d	34	1.42mi
3340 N Meridian St Unit 3340-305 Indianapolis, IN	1.0	1.0	650	$855	$1.32	23d	1	1.43mi
4115 Meadows Dr Indianapolis, IN	1.0–3.0	1.0–2.0	1013	$1,374	$1.36	43d	9	1.43mi
3310 N Meridian St Indianapolis, IN	1.0–2.0	1.0	750	$1,150	$1.53	43d	3	1.43mi

Listing history 16 events

1. 2026-06-18
   days on market $83,000 Active 37 DOM
2. 2026-06-17
   days on market $83,000 Active 36 DOM
3. 2026-06-16
   days on market $83,000 Active 35 DOM
4. 2026-06-15
   days on market $83,000 Active 34 DOM
5. 2026-06-13
   days on market $83,000 Active 32 DOM
6. 2026-06-13
   days on market $83,000 Active 31 DOM
7. 2026-06-09
   days on market $83,000 Active 28 DOM
8. 2026-06-08
   days on market $83,000 Active 27 DOM
9. 2026-06-07
   days on market $83,000 Active 26 DOM
10. 2026-06-03
    days on market $83,000 Active 22 DOM
11. 2026-06-02
    days on market $83,000 Active 21 DOM
12. 2026-06-01
    days on market $83,000 Active 20 DOM
13. 2026-05-31
    days on market $83,000 Active 19 DOM
14. 2026-05-12
    listed $83,000 Active 94-char remark
15. 2007-08-02
    soldstatus $11,500 253-char remark

    Show marketing remark (253 chars)

    2 Bedroom, 1 bathroom home needs some TLC. Subject is corporate owned being sold in 'as-is' condition. Must submit proof of funds or pre-approval letter w/offer. If financing involved, pre-approval letter from seller br anch required. See agent remarks.

16. 2007-06-07
    listed $15,900 253-char remark

    Show marketing remark (253 chars)

    2 Bedroom, 1 bathroom home needs some TLC. Subject is corporate owned being sold in 'as-is' condition. Must submit proof of funds or pre-approval letter w/offer. If financing involved, pre-approval letter from seller br anch required. See agent remarks.

ⓘ 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: $434 · $36/mo
• Projected year-2 tax: $570 · $47/mo
• Expected delta: +$136/yr (+$11/mo · 31.2%)

ⓘ 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 · 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: $11,725
• − Mortgage interest: −$4,649
• − Property taxes: −$434
• − Insurance: −$415
• − Repairs & maintenance: −$938
• − Management: −$938
• − Depreciation: −$2,415
• Taxable income: $1,936
• Est. tax owed @ 24.0%: −$465
• After-tax cash flow: $2,726/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

+422.0% since first listed

3 events — show timeline

• 2026-05-12 Listed $83,000 FSBO.com
• 2007-08-02 Sold (MLS) $11,500 MIBOR as Distributed by MLS Grid
• 2007-06-07 Listed $15,900 MIBOR as Distributed by MLS Grid

Property tax history

+7.2%/yr

Latest (2025): $434 · -71.1% YoY. Source: county tax records.