503 E Highland Ave · Marion, IN 46952

$150,000

4 bd · 2.0 ba · 2,070 sqft · SingleFamily public records · 33 Days on market

Built 1962 6,534 sqft lot $72/sqft · 26% above area Est $120k · 25% over

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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 +21.8/30.0
• DSCR +7.0/10.0
• 1% rule +4.6/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.7/10.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

Lots of room to roam in this spacious 3-4 bedroom home with 2 full baths. Large eat in kitchen, and laundry area. Fenced back yard , wood deck and a detached garage with covered patio area. Two bedrooms down and large bedroom and landing that could be used for 4th bedroom up. Ready to move into and priced to sell!

Key facts

• Two story residence
• Wooden deck
• 6,534 sq ft lot

Tags

• TWO STORY RESIDENCE
• FIRST FLOOR LAUNDRY AREA
• EXPANSIVE EAT IN KITCHEN
• FLEXIBLE LOFT COMMON AREA
• FENCED BACKYARD OASIS
• WOODEN DECK

Property features AI

Finance

• HOA & community: No association amenities

Exterior

• Parking: Detached garage; One garage space; Concrete off-street parking
• Utilities: Public water; Public sewer; Cable available
• Home design: Single-family residence; Site-built home; Two stories
• Construction: Wood siding
• Exterior features: Covered porch; Deck; Patio; Partial chain-link fencing; Corner lot

Interior

• Kitchen: Dishwasher; Refrigerator; Electric cooktop; Oven; Exhaust fan
• Flooring: Hardwood; Laminate; Vinyl
• Bathrooms: Two full bathrooms; One main-level bathroom
• Heating & cooling: Natural gas and electric heating; Baseboard and forced air heating; No central cooling
• Interior features: Eat-in kitchen; Laminate countertops; One fireplace
• Laundry & utility: Washer hookup on main level; Electric dryer hookup; Washer; Dryer; Electric water heater

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $150k.

Deal economics

• At list price, monthly cash flow is $235 ($3k/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 $144k (4.0% below list).
• Recommended offer: $144k (4.0% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 65/100 on livability (#337 in IN) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F, employment F.
• Marion Community Schools (town): math 18% / reading 24% proficiency, ranked #277 of 301 in IN (top 92%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 67% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Riverview Elementary School (math 42% / reading 27%, grade F, #597 of 994 statewide, top 63%, 396 students, 72% FRL); John L Mcculloch Junior High Sch (math 11% / reading 22%, grade F, #287 of 330 statewide, top 88%, 524 students, 74% FRL); Marion High School (math 12% / reading 47%, grade F, #308 of 369 statewide, top 84%, 1,050 students, 66% FRL) — zoned schools at 71% FRL track the district average.
• Market conditions: 126 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 52 units permitted in Grant County in 2024 (8 in 5+ unit buildings).
• This rent runs 33% of the median local income ($53k/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 $4k of value loss. Plan a longer hold.
• Grant County population projected at -18% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 33 days — a 3% lower offer ($146k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 4y 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 $144,015 (4.0% below list)

Questions for the listing agent

1. It's been on market 33 days. Have you received any prior offers? Is the seller open to a 4% concession, seller financing, or rate buy-down credit?
2. Built in 1962 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
5. 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?
6. 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.
7. 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.
8. 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: 0.96% ✗
• Cap rate: 8.17%
• Cash-on-cash: 6.70%
• DSCR: 1.30
• GRM: 8.7

CMA / ARV

• ARV (median comp): $119,788
• List price: $150,000
• Delta: 25.22%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 11 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
503 E Highland Ave	0.00mi	4/2.0	2,079 (+0%)	0mo	$150,000	$72	99
195 E Highland Ave	0.18mi	3/1.0 (-1)	1,820 (-12%)	6mo	$125,000	$69	57
1210 N Brownlee St	0.03mi	3/2.0 (-1)	1,768 (-15%)	24mo	$118,000	$67	50
807 Tippy Dr	0.57mi	4/2.5	2,020 (-2%)	22mo	$131,900	$65	49
806 N Tippy Dr	0.59mi	3/2.0 (-1)	1,916 (-7%)	8mo	$174,500	$91	49
1453 Eagle Ln	0.37mi	4/3.5	2,348 (+13%)	8mo	$310,000	$132	48
410 E Lincoln St	0.59mi	4/2.0	1,764 (-15%)	3mo	$70,000	$40	45
1011 N River Dr	0.54mi	3/2.5 (-1)	2,320 (+12%)	7mo	$210,000	$91	42
1401 N Quarry Rd	0.63mi	5/2.0 (+1)	2,213 (+7%)	19mo	$207,000	$94	39
325 E Marshall St	0.70mi	4/1.0	1,792 (-13%)	12mo	$123,500	$69	31
610 E Marshall St	0.74mi	3/2.0 (-1)	1,863 (-10%)	24mo	$133,500	$72	24

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -6.0%
• Equity multiple: 0.78×
• Total profit: $-9,427
• Equity at exit: $22,365

10-year hold

• IRR: 3.5%
• Equity multiple: 1.26×
• Total profit: $10,784
• Equity at exit: $12,969

Cash invested: $42,000 (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 46952

• Home prices YoY: -29.9%
• Active inventory: 126
• Price-to-rent: 8.7×

Monthly cashflow live

• Estimated rent: $1,440 medium
• Mortgage (P&I): −$787
• Tax from tax record: −$54 /mo · $648/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$302
• Net cashflow: $235

Break-even live

Break-even rent $1,143

Max offer price $150,000

Occupancy floor 79%

Sensitivity live

Price	-10% $319	-5% $277	+0% $235	+5% $192	+10% $150
Rent	-10% $121	-5% $178	+0% $235	+5% $291	+10% $348
Rate	-1.0pp $310	-0.5pp $273	base $235	+0.5pp $196	+1.0pp $156

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: $37,500
• Closing costs: $4,500
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
511 W Buckingham Dr Marion, IN	3.0	2.0	1942	$2,000	$1.03	45d	1	0.66mi

Listing history 17 events

1. 2026-06-15
   statusdays on market $150,000 Pending 33 DOM
2. 2026-06-14
   days on market $150,000 Active Under Contract 32 DOM
3. 2026-06-12
   days on market $150,000 Active Under Contract 31 DOM
4. 2026-06-09
   days on market $150,000 Active Under Contract 28 DOM
5. 2026-06-08
   days on market $150,000 Active Under Contract 27 DOM
6. 2026-06-07
   days on market $150,000 Active Under Contract 26 DOM
7. 2026-06-02
   days on market $150,000 Active Under Contract 21 DOM
8. 2026-06-01
   days on market $150,000 Active Under Contract 20 DOM
9. 2026-05-31
   days on market $150,000 Active Under Contract 19 DOM
10. 2026-05-30
    days on market $150,000 Active Under Contract 18 DOM
11. 2026-05-11
    listed $150,000 Active 1204-char remark
12. 2022-08-08
    soldstatus $89,900 Closed 315-char remark

    Show marketing remark (315 chars)

    Lots of room to roam in this spacious 3-4 bedroom home with 2 full baths. Large eat in kitchen, and laundry area. Fenced back yard , wood deck and a detached garage with covered patio area. Two bedrooms down and large bedroom and landing that could be used for 4th bedroom up. Ready to move into and priced to sell!

13. 2022-08-03
    status Pending 315-char remark

    Show marketing remark (315 chars)

    Lots of room to roam in this spacious 3-4 bedroom home with 2 full baths. Large eat in kitchen, and laundry area. Fenced back yard , wood deck and a detached garage with covered patio area. Two bedrooms down and large bedroom and landing that could be used for 4th bedroom up. Ready to move into and priced to sell!

14. 2022-06-24
    historical Active Under Contract 315-char remark

    Show marketing remark (315 chars)

    Lots of room to roam in this spacious 3-4 bedroom home with 2 full baths. Large eat in kitchen, and laundry area. Fenced back yard , wood deck and a detached garage with covered patio area. Two bedrooms down and large bedroom and landing that could be used for 4th bedroom up. Ready to move into and priced to sell!

15. 2022-06-16
    status Active 315-char remark

    Show marketing remark (315 chars)

    Lots of room to roam in this spacious 3-4 bedroom home with 2 full baths. Large eat in kitchen, and laundry area. Fenced back yard , wood deck and a detached garage with covered patio area. Two bedrooms down and large bedroom and landing that could be used for 4th bedroom up. Ready to move into and priced to sell!

16. 2022-06-15
    listed Active Under Contract 315-char remark

    Show marketing remark (315 chars)

    Lots of room to roam in this spacious 3-4 bedroom home with 2 full baths. Large eat in kitchen, and laundry area. Fenced back yard , wood deck and a detached garage with covered patio area. Two bedrooms down and large bedroom and landing that could be used for 4th bedroom up. Ready to move into and priced to sell!

17. 2022-06-03
    listed $89,900 315-char remark

    Show marketing remark (315 chars)

    Lots of room to roam in this spacious 3-4 bedroom home with 2 full baths. Large eat in kitchen, and laundry area. Fenced back yard , wood deck and a detached garage with covered patio area. Two bedrooms down and large bedroom and landing that could be used for 4th bedroom up. Ready to move into and priced to sell!

ⓘ 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: $648 · $54/mo
• Projected year-2 tax: $962 · $80/mo
• Expected delta: +$313/yr (+$26/mo · 48.3%)

ⓘ 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 · 18 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $17,282
• − Mortgage interest: −$8,402
• − Property taxes: −$648
• − Insurance: −$750
• − Repairs & maintenance: −$1,383
• − Management: −$1,383
• − Depreciation: −$4,364
• Taxable income: $352
• Est. tax owed @ 24.0%: −$85
• After-tax cash flow: $2,730/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: Marion Community Schools
• NCES district ID: 1806390
• Math proficiency: 18% ▼ -9.00%
• Reading proficiency: 24% ▼ -6.00%
• Median HH income: $33,415
• Composite: 17.13/100
• National rank: #9115
• State rank: #277 of 301 in IN

Livability — Marion

• Score: 65/100
• State rank: #337
• US rank: #13006

Category grades

Amenities F Commute F Cost of living A+ Crime A+ Employment F Housing A+ Health & safety D- User ratings C+

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Marion, IN
• County: Grant County · 41,561 people
• City population: 41,561
• Metro: Marion, IN
• Population (ZIP): 18,189
• Household income: $52,880
• Rent vs Own: 31.5% rent · 68.5% own
• Severe rent burden: 662.0

Population outlook (Grant County) Hauer SSP2

• Today (2025): 64,394 people
• By 2030: 62,145 · -3.5%
• By 2040: 57,252 · -11.1%
• By 2050: 52,968 · -17.7%
• By 2075: 45,986 · -28.6%
• By 2100: 39,400 · -38.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (84%)
• Race & ethnicity: White 84% Two or more races 7% Hispanic / Latino 5% Black 4% Asian 1%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Italian 3% Romanian 1% Iranian 1%
• Foreign-born: 4% · Canada
• Languages at home: 96% English-only · Spanish 3%

Political lean MEDSL · Grant

• 2024 margin: Solid R (+41.8) · D 28.2% · R 70.0% · Other 1.9%
• 2008→2024 swing: -28.7pp toward R · 2008: -13.1pp · 2024: -41.8pp
• All cycles: 2024: R+41.8 2020: R+38.8 2016: R+39.5 2012: R+22.0 2008: R+13.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -76.69%
• Current HPI: 180.1174
• Rent YoY: —
• Metro: Marion, 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

+66.9% since first listed

10 events — show timeline

• 2026-06-16 Sold (MLS) $150,000 IRMLS
• 2026-06-14 Pending — IRMLS
• 2026-05-27 Contingent — IRMLS
• 2026-05-11 Listed $150,000 IRMLS
• 2022-08-08 Sold (MLS) $89,900 IRMLS
• 2022-08-03 Pending — IRMLS
• 2022-06-24 Contingent — IRMLS
• 2022-06-16 Relisted — IRMLS
• 2022-06-15 Listed — IRMLS
• 2022-06-03 Listed $89,900 IRMLS

Property tax history

+4.1%/yr

Latest (2025): $648 · -2.8% YoY. Source: county tax records.