3519 Luewan Ct · Indianapolis city (balance), IN 46235

$95,000

3 bd · 1.0 ba · 1,107 sqft · SingleFamily public records · 13 Days on market

Built 1970 7,754 sqft lot $86/sqft · 36% below area Est $149k · 36% 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 +30.0/30.0
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Rent growth +3.1/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.4/10.0
• Appreciation +0.0/10.0

Listing remarks

Discover a charming single-family residence at 3519 Luewan CT in INDIANAPOLIS, IN. Built in 1970, this inviting home offers 1107 square feet of comfortable living space. The home provides three well-proportioned bedrooms and one full bathroom. The home has separate living and family roof with family roof open to kitchen and back patio. Come and see this perfect starter home!

Key facts

• 7,754 sq ft lot
• Built 1970
• Listed 13 days

Tags

• SINGLE FAMILY RESIDENCE
• OPEN TO KITCHEN AND BACK PATIO

Property features AI

Exterior

• Utilities: Public water; Municipal sewer connected; Municipal solid waste service
• Home design: Single-family residence; One story
• Construction: Vinyl siding; Slab foundation
• Exterior features: Patio; Partial fencing (yard fenced); Mature trees on the lot

Interior

• Kitchen: Electric cooktop; Electric oven; Refrigerator
• Bedrooms: 3 bedrooms (all on the main level)
• Bathrooms: 1 full bathroom (main level)
• Heating & cooling: Forced air heating (natural gas); Central air conditioning
• Interior features: Eat-in kitchen; Utility room
• Laundry & utility: Utility room

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $95k.

Deal economics

• At list price, monthly cash flow is $747 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $95k).
• Cap rate 15.7% 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 rising (+2.6%/yr); 54 active listings in the ZIP; 34 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 34% of the median local income ($59k/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 $657 of loan paydown is wiped out by about $3k 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 + 2.6% rent growth), your $27k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• Only 13 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts 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 $95,000

Questions for the listing agent

1. Built in 1970 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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: 1.76% ✓
• Cap rate: 15.73%
• Cash-on-cash: 33.69%
• DSCR: 2.50
• GRM: 4.7

CMA / ARV

• ARV (median comp): $148,592
• List price: $95,000
• Delta: -36.07%
• 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
3514 Jerome Ct	0.03mi	3/1.0	1,107 (0%)	10mo	$79,000	$71	91
3525 Luewan Ct	0.01mi	4/1.0 (+1)	1,107 (0%)	5mo	$120,000	$108	90
3513 Ireland Dr	0.07mi	3/1.0	1,094 (-1%)	11mo	$140,000	$128	86
3509 N Wittfield St	0.18mi	3/1.0	1,073 (-3%)	9mo	$135,000	$126	79
3444 Hermosa Ct	0.13mi	3/1.5	1,262 (+14%)	3mo	$145,000	$115	67
9613 E 39th Pl	0.60mi	3/1.0	1,073 (-3%)	2mo	$125,000	$116	65
3857 Arquette Dr	0.57mi	3/1.0	1,107 (0%)	10mo	$125,000	$113	65
3655 N Wittfield St	0.29mi	3/1.0	1,213 (+10%)	9mo	$150,261	$124	63
3405 N Brentwood Ave	0.38mi	3/1.5	1,253 (+13%)	10mo	$160,000	$128	50
10013 Ridgefield Dr	0.67mi	3/1.0	1,225 (+11%)	4mo	$145,000	$118	48
9819 Bishop Ct	0.61mi	4/2.0 (+1)	1,225 (+11%)	1mo	$136,500	$111	44
3814 Strathmore Dr	0.56mi	4/1.0 (+1)	1,225 (+11%)	9mo	$185,000	$151	44

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 · 2.56% rent growth · sell at horizon

5-year hold

• IRR: 28.5%
• Equity multiple: 2.18×
• Total profit: $31,409
• Equity at exit: $14,165

10-year hold

• IRR: 35.7%
• Equity multiple: 4.21×
• Total profit: $85,497
• Equity at exit: $8,214

Cash invested: $26,600 (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 46235

• Home prices YoY: -4.3%
• Rents YoY: 2.6%
• Active inventory: 54
• Price-to-rent: 4.7×

Monthly cashflow live

• Estimated rent: $1,671 high
• Mortgage (P&I): −$498
• Tax from tax record: −$35 /mo · $422/yr
• Insurance: −$40
• HOA: −$0
• Vacancy / Maint / Mgmt: −$351
• Net cashflow: $747

Break-even live

Break-even rent $725

Max offer price $95,000

Occupancy floor 50%

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: $23,750
• Closing costs: $2,850
• Reserves months: —
• Total cash needed: —

Rent comps 34 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3525 Luewan Ct Indianapolis, IN	4.0	1.0	1107	$1,750	$1.58	23d	1	0.02mi
3519 Jerome Ct Indianapolis, IN	4.0	1.0	1107	$1,995	$1.80	23d	1	0.06mi
9226 E 36th Pl Indianapolis, IN	3.0	1.0	1073	$1,250	$1.16	7d	1	0.16mi
3747 Ireland Dr Indianapolis, IN	4.0	1.5	1400	$1,700	$1.21	23d	1	0.31mi
3631 Decamp Dr Indianapolis, IN	3.0	1.0	1000	$1,335	$1.33	23d	1	0.57mi
3540 Dubarry Ct Indianapolis, IN	3.0	2.0	1297	$1,400	$1.08	23d	1	0.59mi
9060 E 39th Pl Indianapolis, IN	1.0–2.0	1.0–1.5	820	$1,040	$1.27	23d	1	0.66mi
9962 Catalina Dr Indianapolis, IN	3.0	1.0	1236	$1,600	$1.29	3d	1	0.70mi
9438 Conried Dr Indianapolis, IN	3.0	1.0	1094	$1,445	$1.32	4d	1	0.72mi
3809 Biscayne Rd Indianapolis, IN	2.0	1.5	992	$1,020	$1.03	14d	1	0.72mi
3815 Biscayne Rd Indianapolis, IN	3.0	1.5	1188	$1,220	$1.03	14d	1	0.72mi
3821 Biscayne Rd Indianapolis, IN	4.0	1.5	1188	$1,325	$1.12	14d	1	0.73mi
3823 Biscayne Rd Indianapolis, IN	4.0	1.5	1188	$1,320	$1.11	14d	1	0.74mi
3829 Biscayne Rd Indianapolis, IN	4.0	1.5	1188	$1,320	$1.11	14d	1	0.74mi
3962 Strathmore Dr Indianapolis, IN	3.0	1.0	925	$1,250	$1.35	23d	1	0.75mi
8862 Bel Air Ct Indianapolis, IN	3.0	1.0	1073	$1,264	$1.18	17d	1	0.75mi
8914 Elmonte Dr Indianapolis, IN	3.0	1.5	1500	$1,600	$1.07	23d	1	0.81mi
3938 Biscayne Rd Indianapolis, IN	3.0	1.0	1000	$1,895	$1.90	2d	1	0.82mi
8738 Montery Rd Indianapolis, IN	3.0	1.0	1421	$1,396	$0.98	7d	1	0.91mi
9949 Ellis Dr Indianapolis, IN	4.0	2.0	1421	$1,580	$1.11	2d	1	0.92mi
8724 Montery Rd Indianapolis, IN	3.0	1.0	925	$1,500	$1.62	43d	1	0.93mi
10101 Montery Rd Indianapolis, IN	2.0	1.0	627	$1,439	$2.30	1d	10	0.98mi
3645 Wingate Ct Indianapolis, IN	3.0	1.0–2.0	774	$1,500	$1.94	23d	6	1.09mi
8203 Penway St Indianapolis, IN	3.0	1.5	1360	$1,500	$1.10	23d	1	1.14mi
8501 Athens Ct Indianapolis, IN	4.0	1.0	1225	$1,475	$1.20	14d	1	1.29mi
3513 Roseway Dr Indianapolis, IN	3.0	2.0	1216	$1,600	$1.32	17d	1	1.35mi
4315 Aspen Way Indianapolis, IN	3.0	1.0	1080	$1,380	$1.28	43d	1	1.37mi
7937 E 34th St Indianapolis, IN	4.0	1.0	1450	$2,000	$1.38	23d	1	1.37mi
3665 Coneflower Way Indianapolis, IN	3.0	2.0	1030	$1,375	$1.33	43d	1	1.45mi
7925 Crossbridge Dr Indianapolis, IN	2.0	2.0	1072	$1,200	$1.12	43d	1	1.47mi
7838 Ridgewood Dr Indianapolis, IN	3.0	2.0	936	$1,540	$1.65	43d	1	1.47mi
7838 Ridgewood Dr Indianapolis, IN	3.0	2.0	936	$1,540	$1.65	23d	1	1.47mi
8254 Meadowlark Dr Unit 1 Indianapolis, IN	3.0	1.5	1320	$1,150	$0.87	43d	1	1.50mi
8254 Meadowlark Dr Indianapolis, IN	3.0	1.5	1320	$1,150	$0.87	21d	1	1.50mi

Listing history 3 events

1. 2026-05-14
   listed $95,000 Active 379-char remark
2. 2025-12-08
   historical
3. 2025-12-05
   listed $90,000 Active

ⓘ 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: $422 · $35/mo
• Projected year-2 tax: $615 · $51/mo
• Expected delta: +$193/yr (+$16/mo · 45.7%)

ⓘ 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 100% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $20,047
• − Mortgage interest: −$5,321
• − Property taxes: −$422
• − Insurance: −$475
• − Repairs & maintenance: −$1,604
• − Management: −$1,604
• − Depreciation: −$2,764
• Taxable income: $7,857
• Est. tax owed @ 24.0%: −$1,886
• After-tax cash flow: $7,076/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): 36,317
• Household income: $58,951
• Rent vs Own: 46.5% rent · 53.5% own
• Severe rent burden: 1901.0

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: Black 57% White 18% Hispanic / Latino 17% Two or more races 11%
• Hispanic origin (detail): Mexican 11% Puerto Rican 2%
• Common ancestry: Hispanic 3% Slovak 1% Romanian 1%
• Foreign-born: 11% · Canada
• Languages at home: 80% English-only · Spanish 15% French/Haitian/Cajun 4%

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: ▼ -12.41%
• Current HPI: 275.1505
• Rent YoY: ▲ 2.56%
• 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

+5.6% since first listed

4 events — show timeline

• 2026-05-28 Pending — MIBOR as Distributed by MLS Grid
• 2026-05-14 Listed $95,000 MIBOR as Distributed by MLS Grid
• 2025-12-08 Listing Removed — MIBOR as Distributed by MLS Grid
• 2025-12-05 Listed $90,000 MIBOR as Distributed by MLS Grid

Property tax history

+2.1%/yr

Latest (2025): $422 · +2.0% YoY. Source: county tax records.