2446 Carrollton Ave · Indianapolis city (balance), IN 46205

$235,000

5 bd · 2.0 ba · 2,744 sqft · SingleFamily public records · 93 Days on market

Built 1922 6,621 sqft lot $86/sqft · 32% below area Est $427k · 45% 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 +16.9/30.0
• ARV discount +15.0/15.0
• 1% rule +5.9/10.0
• DSCR +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

Spacious 4/5 BR home with PRIME Mid Town location - Hardwoods - Flexible living options - Large living areas and bedrooms - Sun room - Arched entry ways and Old World charm - Two blocks from the Monon and a ton of new development - Main level W/D - Minutes to Broadripple and Mass Ave - Currently used as a cash flowing STR - Run the numbers; this one works! All furniture and decor can be purchased with home.

Key facts

• Main level w d
• Arched entry ways
• Sun room

Tags

• PRIME MID TOWN LOCATION
• SUN ROOM
• ARCHED ENTRY WAYS
• TWO BLOCKS FROM THE MONON
• MAIN LEVEL W D

What this means for you Summary

Snapshot

• This is a 5-bed/2.0-bath single-family listed at $235k.

Deal economics

• At list price, monthly cash flow is $154 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $235k).
• Recommended offer: $214k (9.0% below list) — sets the bar for market timing.
• Cap rate 7.1% 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 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; 6 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 42% 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 $2k of loan paydown is wiped out by about $7k 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 93 days — a 9% lower offer ($214k) is reasonable based on typical stale-listing flexibility.
• 9 sale attempts since 21y ago; this cycle's ask has dropped $15k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $180k; 31% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: property tax is 2.8% of price; built in 1922 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $213,850 (9.0% below list)

Questions for the listing agent

1. It's been on market 93 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1922 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 1.09% ✓
• Cap rate: 7.08%
• Cash-on-cash: 2.80%
• DSCR: 1.12
• GRM: 7.6

CMA / ARV

• ARV (median comp): $426,556
• List price: $235,000
• Delta: -44.91%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2114 Broadway St	0.47mi	4/2.5 (-1)	2,704 (-2%)	0mo	$437,000	$162	68
2228 N New Jersey St	0.50mi	4/2.5 (-1)	2,758 (+0%)	6mo	$500,000	$181	64
2351 N Pennsylvania St	0.64mi	4/3.0 (-1)	2,757 (+0%)	3mo	$500,000	$181	58
519 Sutherland Ave	0.30mi	4/2.5 (-1)	2,400 (-12%)	6mo	$390,000	$163	53
2314 N New Jersey St	0.44mi	4/3.0 (-1)	2,530 (-8%)	7mo	$470,000	$186	52
2019 Winthrop Ave	0.59mi	4/3.5 (-1)	2,890 (+5%)	3mo	$630,000	$218	50
1909 Ruckle St	0.74mi	4/4.0 (-1)	2,616 (-5%)	3mo	$485,000	$185	42
2933 Winthrop Ave	0.52mi	4/2.0 (-1)	2,340 (-15%)	6mo	$162,000	$69	41
1922 Ruckle St	0.73mi	4/4.0 (-1)	2,568 (-6%)	2mo	$485,000	$189	41
3039 N Park Ave	0.64mi	4/3.0 (-1)	2,462 (-10%)	6mo	$399,900	$162	39
2026 Alvord St	0.58mi	4/3.5 (-1)	3,039 (+11%)	8mo	$720,000	$237	38
2123 N Talbott St	0.74mi	4/2.5 (-1)	3,084 (+12%)	1mo	$442,500	$143	37

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: -7.8%
• Equity multiple: 0.70×
• Total profit: $-19,559
• Equity at exit: $35,039

10-year hold

• IRR: 5.9%
• Equity multiple: 1.51×
• Total profit: $33,807
• Equity at exit: $20,319

Cash invested: $65,800 (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: 7.6×

Monthly cashflow live

• Estimated rent: $2,564 high
• Mortgage (P&I): −$1,232
• Tax from tax record: −$541 /mo · $6,498/yr
• Insurance: −$98
• HOA: −$0
• Vacancy / Maint / Mgmt: −$538
• Net cashflow: $154

Break-even live

Break-even rent $2,369

Max offer price $235,000

Occupancy floor 89%

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: $58,750
• Closing costs: $7,050
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2340 N Park Ave Indianapolis, IN	4.0	3.5	3500	$3,500	$1.00	4d	1	0.29mi
2246 Bellefontaine St Indianapolis, IN	4.0	2.5	2587	$2,300	$0.89	24d	1	0.30mi
1949 Carrollton Ave Indianapolis, IN	4.0	3.5	2617	$2,995	$1.14	44d	1	0.65mi
3128 Broadway St Indianapolis, IN	4.0	1.5	1999	$2,200	$1.10	24d	1	0.70mi
1704 N Pennsylvania St Unit B Indianapolis, IN	4.0	1.5	2200	$1,800	$0.82	44d	1	1.13mi
3160 Graceland Ave Indianapolis, IN	4.0	2.0	1936	$2,000	$1.03	24d	1	1.22mi

Listing history 35 events

1. 2026-06-18
   days on market $235,000 Active 93 DOM
2. 2026-06-17
   days on market $235,000 Active 92 DOM
3. 2026-06-16
   days on market $235,000 Active 91 DOM
4. 2026-06-15
   days on market $235,000 Active 90 DOM
5. 2026-06-13
   days on market $235,000 Active 88 DOM
6. 2026-06-13
   days on market $235,000 Active 87 DOM
7. 2026-06-09
   days on market $235,000 Active 84 DOM
8. 2026-06-08
   days on market $235,000 Active 83 DOM
9. 2026-06-07
   days on market $235,000 Active 82 DOM
10. 2026-06-03
    days on market $235,000 Active 78 DOM
11. 2026-06-02
    days on market $235,000 Active 77 DOM
12. 2026-06-01
    days on market $235,000 Active 76 DOM
13. 2026-05-31
    days on market $235,000 Active 75 DOM
14. 2026-05-08
    price $235,000 410-char remark

    Show marketing remark (410 chars)

    Spacious 4/5 BR home with PRIME Mid Town location - Hardwoods - Flexible living options - Large living areas and bedrooms - Sun room - Arched entry ways and Old World charm - Two blocks from the Monon and a ton of new development - Main level W/D - Minutes to Broadripple and Mass Ave - Currently used as a cash flowing STR - Run the numbers; this one works! All furniture and decor can be purchased with home.

15. 2026-03-23
    status Active 410-char remark

    Show marketing remark (410 chars)

    Spacious 4/5 BR home with PRIME Mid Town location - Hardwoods - Flexible living options - Large living areas and bedrooms - Sun room - Arched entry ways and Old World charm - Two blocks from the Monon and a ton of new development - Main level W/D - Minutes to Broadripple and Mass Ave - Currently used as a cash flowing STR - Run the numbers; this one works! All furniture and decor can be purchased with home.

16. 2026-03-02
    status Pending 410-char remark

    Show marketing remark (410 chars)

    Spacious 4/5 BR home with PRIME Mid Town location - Hardwoods - Flexible living options - Large living areas and bedrooms - Sun room - Arched entry ways and Old World charm - Two blocks from the Monon and a ton of new development - Main level W/D - Minutes to Broadripple and Mass Ave - Currently used as a cash flowing STR - Run the numbers; this one works! All furniture and decor can be purchased with home.

17. 2026-02-24
    listed $250,000 Active 410-char remark

    Show marketing remark (410 chars)

    Spacious 4/5 BR home with PRIME Mid Town location - Hardwoods - Flexible living options - Large living areas and bedrooms - Sun room - Arched entry ways and Old World charm - Two blocks from the Monon and a ton of new development - Main level W/D - Minutes to Broadripple and Mass Ave - Currently used as a cash flowing STR - Run the numbers; this one works! All furniture and decor can be purchased with home.

18. 2024-01-25
    historical $2,500
19. 2023-11-19
    price $2,500
20. 2023-10-20
    price $2,750
21. 2023-08-30
    listed $3,000
22. 2019-06-03
    soldstatus $180,000 Sold 720-char remark

    Show marketing remark (720 chars)

    Immaculate & very well-kept home on East side of Fall creek neighborhood in Reagan Park! With just over 2700 sq ft, this huge 5 Bedroom/2 bath home with 3 season sun room and basement is priced to sell. This Homes has 2 bedrooms on MAIN floor, beautiful wood work, arch door ways with Tons of room for storage and walk-in closets. Updates included:2016 Both baths totally refinished, new lights/fans in bedrooms. 2014: New furnace! Recently updates include newly fresh paint and stained as well as new carpet on stairway. Hardwood floors in hallways, dining room and living room. This home is only 2 blocks from Monon Trail and very close to downtown and offering home warranty! Hurry-This home should not last long!

23. 2019-04-17
    status Pending 720-char remark

    Show marketing remark (720 chars)

    Immaculate & very well-kept home on East side of Fall creek neighborhood in Reagan Park! With just over 2700 sq ft, this huge 5 Bedroom/2 bath home with 3 season sun room and basement is priced to sell. This Homes has 2 bedrooms on MAIN floor, beautiful wood work, arch door ways with Tons of room for storage and walk-in closets. Updates included:2016 Both baths totally refinished, new lights/fans in bedrooms. 2014: New furnace! Recently updates include newly fresh paint and stained as well as new carpet on stairway. Hardwood floors in hallways, dining room and living room. This home is only 2 blocks from Monon Trail and very close to downtown and offering home warranty! Hurry-This home should not last long!

24. 2019-04-04
    price $219,900 720-char remark

    Show marketing remark (720 chars)

    Immaculate & very well-kept home on East side of Fall creek neighborhood in Reagan Park! With just over 2700 sq ft, this huge 5 Bedroom/2 bath home with 3 season sun room and basement is priced to sell. This Homes has 2 bedrooms on MAIN floor, beautiful wood work, arch door ways with Tons of room for storage and walk-in closets. Updates included:2016 Both baths totally refinished, new lights/fans in bedrooms. 2014: New furnace! Recently updates include newly fresh paint and stained as well as new carpet on stairway. Hardwood floors in hallways, dining room and living room. This home is only 2 blocks from Monon Trail and very close to downtown and offering home warranty! Hurry-This home should not last long!

25. 2019-03-10
    listed $229,900 Active 720-char remark

    Show marketing remark (720 chars)

    Immaculate & very well-kept home on East side of Fall creek neighborhood in Reagan Park! With just over 2700 sq ft, this huge 5 Bedroom/2 bath home with 3 season sun room and basement is priced to sell. This Homes has 2 bedrooms on MAIN floor, beautiful wood work, arch door ways with Tons of room for storage and walk-in closets. Updates included:2016 Both baths totally refinished, new lights/fans in bedrooms. 2014: New furnace! Recently updates include newly fresh paint and stained as well as new carpet on stairway. Hardwood floors in hallways, dining room and living room. This home is only 2 blocks from Monon Trail and very close to downtown and offering home warranty! Hurry-This home should not last long!

26. 2008-07-18
    soldstatus $29,500
27. 2008-04-04
    listed $29,500
28. 2008-04-04
    historical
29. 2008-03-24
    historical
30. 2008-01-17
    listed $37,500
31. 2007-12-10
    historical
32. 2007-10-23
    listed $49,900
33. 2006-01-21
    listed $84,000
34. 2005-12-07
    historical
35. 2005-06-08
    listed $110,000

ⓘ 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: $6,498 · $541/mo
• Projected year-2 tax: $6,498 · $541/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: $30,765
• − Mortgage interest: −$13,164
• − Property taxes: −$6,498
• − Insurance: −$1,175
• − Repairs & maintenance: −$2,461
• − Management: −$2,461
• − Depreciation: −$6,836
• Taxable loss: −$1,830
• Est. tax savings @ 24.0%: +$439
• After-tax cash flow: $2,283/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

+113.6% since first listed

22 events — show timeline

• 2026-05-08 Price Changed $235,000 MIBOR as Distributed by MLS Grid
• 2026-03-23 Relisted — MIBOR as Distributed by MLS Grid
• 2026-03-02 Pending — MIBOR as Distributed by MLS Grid
• 2026-02-24 Listed $250,000 MIBOR as Distributed by MLS Grid
• 2024-01-25 Rental Removed $2,500 RENTEC
• 2023-11-19 Price Changed $2,500 RENTEC
• 2023-10-20 Price Changed $2,750 RENTEC
• 2023-08-30 Listed for Rent $3,000 RENTEC
• 2019-06-03 Sold (MLS) $180,000 MIBOR as Distributed by MLS Grid
• 2019-04-17 Pending — MIBOR as Distributed by MLS Grid
• 2019-04-04 Price Changed $219,900 MIBOR as Distributed by MLS Grid
• 2019-03-10 Listed $229,900 MIBOR as Distributed by MLS Grid
• 2008-07-18 Sold (MLS) $29,500 MIBOR as Distributed by MLS Grid
• 2008-04-04 Listed $29,500 MIBOR as Distributed by MLS Grid
• 2008-04-04 Listing Removed — MIBOR as Distributed by MLS Grid
• 2008-03-24 Listing Removed — MIBOR as Distributed by MLS Grid
• 2008-01-17 Listed $37,500 MIBOR as Distributed by MLS Grid
• 2007-12-10 Listing Removed — MIBOR as Distributed by MLS Grid
• 2007-10-23 Listed $49,900 MIBOR as Distributed by MLS Grid
• 2006-01-21 Listed $84,000 MIBOR as Distributed by MLS Grid
• 2005-12-07 Listing Removed — MIBOR as Distributed by MLS Grid
• 2005-06-08 Listed $110,000 MIBOR as Distributed by MLS Grid

Property tax history

+28.3%/yr

Latest (2025): $6,498 · +11.4% YoY. Source: county tax records.