2610 E North St · Indianapolis city (balance), IN 46201

$265,000

6 bd · 4.0 ba · 1,414 sqft · MultiFamily public records · 1 Days on market

Built 1915 3,485 sqft lot

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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 +10.4/30.0
• ARV discount +7.5/15.0
• Rent growth +4.3/5.0
• 1% rule +3.9/10.0
• DSCR +3.0/10.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.4/10.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks MLS

Incredible cash flowing duplex on the Near East side of Indy. This turn-key ready duplex has 2 units with 3 bedrooms | 1 bathrooms with around 1,414 Sqft/unit of space. One unit is turnkey and is ready to be rented, the other is occupied until 11/30/24. Estimated rental amounts should be $1250~/unit. The interior has an open-style space between the living and dining area with LVP flooring and a fresh interior paint, and an updated kitchen space. The back yard is fully fenced with both units having their space while also having separate parking spaces. Consider living in one side and AirBnB-ing out the other for additional income. Enjoy being within 5 minutes of downtown Indy with quick access to neighborhood favorites like The Bottleworks District, Neidhammer Coffee & more. Make this your home today!

Key facts

• 3,485 sq ft lot
• Built 1915

Property features AI

Finance

• Other: Current use: residential (apartments under 20 units); Lot size approximately 0.08 acres
• Financial info: Property has 2 total units; Owner pays lawn care; owner does not pay utilities; Reported gross income, net operating income, and expenses listed as 0 (verify actuals)

Exterior

• Parking: Parking lot with 2 vehicle spaces (unpaved); Alley access
• Security: Smoke detector(s)
• Utilities: Solid waste service available; Utilities for units: central air, natural gas (fuel gas), forced heat, electric hot water
• Home design: Duplex (residential income property); Two-story structure; Updated/remodeled condition
• Construction: Vinyl siding; Crawl space foundation; Asphalt roof
• Exterior features: Full privacy fencing; Asphalt roof; Crawl space foundation; Sidewalks and street lights; City street access

Interior

• Kitchen: Each unit has a kitchen (approx. 12x14); Range/oven in each unit
• Bedrooms: Two 3-bedroom units
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: Updated/remodeled units; Smoke detector(s)
• Laundry & utility: Laundry connections in each unit

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/1.0-bath units multifamily listed at $265k.

Deal economics

• At list price, monthly cash flow is $-139 ($-2k/yr) — negative. Per door: $-69/mo.
• To cash-flow at today's rent, offer at most $240k (9.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $236k (11.0% below list).
• Recommended offer: $236k (11.0% below list) — sets the bar for 1% rule.
• Cap rate 5.7% vs local median 4.4% in Indianapolis city (balance) — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

Location & tenants

• Location reads: area grade D — 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 (+7.3%/yr); 480 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 1,906 units permitted in Marion County in 2024 (621 in 5+ unit buildings).
• At $2,359/mo this rent would consume 58% of the median local household income ($49k/yr) (locally 1906% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

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 1 days on market — expect competitive offers; lowballing is unlikely to land.
• 8 sale attempts since 24y 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.

Risks & watch-outs

• Watch-outs: built in 1915 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $235,900 (11.0% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1915 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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.
8. 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.
9. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 0.89% ✗
• Cap rate: 5.66%
• Cash-on-cash: -2.24%
• DSCR: 0.90
• GRM: 9.4

CMA / ARV

• ARV (on-the-fly): $124,432
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3310 E 9th St	0.55mi	6/3.0	1,362 (-4%)	13mo	$120,000	$88	53

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 · 7.31% rent growth · sell at horizon

5-year hold

• IRR: -14.8%
• Equity multiple: 0.45×
• Total profit: $-40,965
• Equity at exit: $39,512

10-year hold

• IRR: 0.2%
• Equity multiple: 1.02×
• Total profit: $1,398
• Equity at exit: $22,912

Cash invested: $74,200 (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 46201

• Home prices YoY: -33.9%
• Rents YoY: 7.3%
• Active inventory: 480
• Price-to-rent: 18.7×

Monthly cashflow live

• Estimated rent: $2,359 high
• Mortgage (P&I): −$1,390
• Tax from tax record: −$502 /mo · $6,027/yr
• Insurance: −$110
• HOA: −$0
• Vacancy / Maint / Mgmt: −$495
• Net cashflow: $-139

Break-even live

Break-even rent $2,535

Max offer price $240,487

Occupancy floor —

Sensitivity live

Price	-10% $11	-5% $-64	+0% $-139	+5% $-214	+10% $-289
Rent	-10% $-325	-5% $-232	+0% $-139	+5% $-46	+10% $48
Rate	-1.0pp $-5	-0.5pp $-71	base $-139	+0.5pp $-207	+1.0pp $-277

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	3	1	$2,358
Total (2 units)			$2,359

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: $66,250
• Closing costs: $7,950
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3710 E Market St Indianapolis, IN	6.0	1.0	1232	$1,450	$1.18	15d	1	0.89mi

Listing history 2 events

1. 2026-06-18
   remarks 695-char remark
2. 2026-06-18
   listed $265,000 Active 1 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: $6,027 · $502/mo
• Projected year-2 tax: $6,027 · $502/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 · 19 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% 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: $28,308
• − Mortgage interest: −$14,844
• − Property taxes: −$6,027
• − Insurance: −$1,325
• − Repairs & maintenance: −$2,265
• − Management: −$2,265
• − Depreciation: −$7,709
• Taxable loss: −$6,127
• Est. tax savings @ 24.0%: +$1,470
• After-tax cash flow: $-195/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): 30,335
• Household income: $49,195
• Rent vs Own: 48.4% rent · 51.6% own
• Severe rent burden: 1906.0

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 0.63)
• Race & ethnicity: White 53% Hispanic / Latino 23% Black 18% Two or more races 9%
• Hispanic origin (detail): Mexican 14% Puerto Rican 2%
• Common ancestry: Slovak 2% Lithuanian 2% Italian 1%
• Foreign-born: 9% · Canada
• Languages at home: 81% English-only · Spanish 17%

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: ▼ -192.51%
• Current HPI: 375.0969
• Rent YoY: ▲ 7.31%
• 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

+1052.2% since first listed

20 events — show timeline

• 2026-06-18 Listed $265,000 MIBOR as Distributed by MLS Grid
• 2024-10-11 Sold (MLS) $235,000 MIBOR as Distributed by MLS Grid
• 2024-09-12 Pending — MIBOR as Distributed by MLS Grid
• 2024-09-09 Listed $229,900 MIBOR as Distributed by MLS Grid
• 2022-07-18 Price Changed $875 RENT.
• 2019-04-18 Sold (MLS) $83,500 MIBOR as Distributed by MLS Grid
• 2019-03-24 Pending — MIBOR as Distributed by MLS Grid
• 2019-03-20 Listed $86,900 MIBOR as Distributed by MLS Grid
• 2013-10-23 Listing Removed — MIBOR as Distributed by MLS Grid
• 2013-10-21 Sold (MLS) $80,000 MIBOR as Distributed by MLS Grid
• 2013-07-03 Listed $80,000 MIBOR as Distributed by MLS Grid
• 2013-06-28 Listing Removed — MIBOR as Distributed by MLS Grid
• 2013-06-28 Sold (MLS) $8,700 MIBOR as Distributed by MLS Grid
• 2013-05-14 Listed $8,900 MIBOR as Distributed by MLS Grid
• 2012-12-20 Listing Removed — MIBOR as Distributed by MLS Grid
• 2012-06-20 Listed $16,900 MIBOR as Distributed by MLS Grid
• 2006-11-30 Listing Removed — MIBOR as Distributed by MLS Grid
• 2006-03-03 Listed $46,900 MIBOR as Distributed by MLS Grid
• 2003-02-28 Sold (MLS) $23,490 MIBOR as Distributed by MLS Grid
• 2002-12-11 Listed $23,000 MIBOR as Distributed by MLS Grid

Property tax history

+22.0%/yr

Latest (2025): $6,027 · +184.4% YoY. Source: county tax records.