243 N 5th Ave · Beech Grove, IN 46107

$245,000

6 bd · 5.0 ba · 7,200 sqft · Land · 199 Days on market

Built 2025 6,795 sqft lot

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Why this score? — see what drove the F 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 +9.0/30.0
• ARV discount +7.5/15.0
• Livability +3.2/5.0
• 1% rule +2.8/10.0
• DSCR +2.5/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.9/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Investors - Rare Beech Grove Opportunity! Looking for your next profitable project? Check out this brand-new construction duplex in Beech Grove that's ready for you to finish! Total 3,600 sq ft - 1,800 sq ft per side Each unit: 3 Bedrooms, 2.5 Bathrooms Water, electric, and ductwork already completed Perfect for flip, BRRRR, rental portfolio, or house hack! This is a high-demand area and opportunities like this don't last long.

Key facts

• 6,795 sq ft lot
• Built 2025
• Listed 199 days

Tags

• BRAND-NEW CONSTRUCTION DUPLEX
• MATERIALS ON-SITE STAY

What this means for you Summary

Snapshot

• This is a 6-bed/5.0-bath land listed at $245k.

Deal economics

• At list price, monthly cash flow is $-193 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $217k (11.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $190k (22.5% below list).
• Recommended offer: $190k (22.5% below list) — sets the bar for 1% rule.
• Cap rate 5.3% vs local median 4.4% in Beech Grove — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

Location & tenants

• Location reads 63/100 on livability (#418 in IN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: health & safety C-, schools F, amenities F.
• Beech Grove City Schools (suburban): math 17% / reading 29% proficiency, ranked #269 of 301 in IN (top 89%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 75 active listings in the ZIP; 1,906 units permitted in Marion County in 2024 (621 in 5+ unit buildings).
• This rent runs 40% of the median local income ($57k/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 199 days — a 12% lower offer ($216k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 26y ago; this cycle's ask has dropped $30k (11%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Recommended offer $189,926 (22.5% 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. It's been on market 199 days. Have you received any prior offers? Is the seller open to a 22% concession, seller financing, or rate buy-down credit?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
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 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: 0.78% ✗
• Cap rate: 5.35%
• Cash-on-cash: -3.37%
• DSCR: 0.85
• GRM: 10.7

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -21.9%
• Equity multiple: 0.24×
• Total profit: $-51,947
• Equity at exit: $36,530

10-year hold

• IRR: -15.8%
• Equity multiple: 0.11×
• Total profit: $-60,923
• Equity at exit: $21,183

Cash invested: $68,600 (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 46107

• Home prices YoY: -29.1%
• Active inventory: 75
• Price-to-rent: 10.7×

Monthly cashflow live

• Estimated rent: $1,899 medium
• Mortgage (P&I): −$1,285
• Tax est. 1.5%: −$306 /mo · $3,675/yr
• Insurance: −$102
• HOA: −$0
• Vacancy / Maint / Mgmt: −$399
• Net cashflow: $-193

Break-even live

Break-even rent $2,143

Max offer price $217,112

Occupancy floor —

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: $61,250
• Closing costs: $7,350
• Reserves months: —
• Total cash needed: —

Listing history 27 events

1. 2026-06-18
   days on market $245,000 Active 199 DOM
2. 2026-06-17
   days on market $245,000 Active 198 DOM
3. 2026-06-16
   days on market $245,000 Active 197 DOM
4. 2026-06-15
   days on market $245,000 Active 196 DOM
5. 2026-06-13
   days on market $245,000 Active 194 DOM
6. 2026-06-13
   days on market $245,000 Active 193 DOM
7. 2026-06-09
   days on market $245,000 Active 190 DOM
8. 2026-06-08
   days on market $245,000 Active 189 DOM
9. 2026-06-07
   days on market $245,000 Active 188 DOM
10. 2026-06-03
    days on market $245,000 Active 184 DOM
11. 2026-06-02
    days on market $245,000 Active 183 DOM
12. 2026-06-01
    days on market $245,000 Active 182 DOM
13. 2026-05-31
    days on market $245,000 Active 181 DOM
14. 2026-05-18
    price $245,000 444-char remark

    Show marketing remark (444 chars)

    Investors - Rare Beech Grove Opportunity! Looking for your next profitable project? Check out this brand-new construction duplex in Beech Grove that's ready for you to finish! Total 3,600 sq ft - 1,800 sq ft per side Each unit: 3 Bedrooms, 2.5 Bathrooms Water, electric, and ductwork already completed Perfect for flip, BRRRR, rental portfolio, or house hack! This is a high-demand area and opportunities like this don't last long.

15. 2026-04-30
    price $248,000 444-char remark

    Show marketing remark (444 chars)

    Investors - Rare Beech Grove Opportunity! Looking for your next profitable project? Check out this brand-new construction duplex in Beech Grove that's ready for you to finish! Total 3,600 sq ft - 1,800 sq ft per side Each unit: 3 Bedrooms, 2.5 Bathrooms Water, electric, and ductwork already completed Perfect for flip, BRRRR, rental portfolio, or house hack! This is a high-demand area and opportunities like this don't last long.

16. 2026-04-23
    price $254,500 444-char remark

    Show marketing remark (444 chars)

    Investors - Rare Beech Grove Opportunity! Looking for your next profitable project? Check out this brand-new construction duplex in Beech Grove that's ready for you to finish! Total 3,600 sq ft - 1,800 sq ft per side Each unit: 3 Bedrooms, 2.5 Bathrooms Water, electric, and ductwork already completed Perfect for flip, BRRRR, rental portfolio, or house hack! This is a high-demand area and opportunities like this don't last long.

17. 2026-04-11
    price $259,000 444-char remark

    Show marketing remark (444 chars)

    Investors - Rare Beech Grove Opportunity! Looking for your next profitable project? Check out this brand-new construction duplex in Beech Grove that's ready for you to finish! Total 3,600 sq ft - 1,800 sq ft per side Each unit: 3 Bedrooms, 2.5 Bathrooms Water, electric, and ductwork already completed Perfect for flip, BRRRR, rental portfolio, or house hack! This is a high-demand area and opportunities like this don't last long.

18. 2026-04-02
    price $264,900 444-char remark

    Show marketing remark (444 chars)

    Investors - Rare Beech Grove Opportunity! Looking for your next profitable project? Check out this brand-new construction duplex in Beech Grove that's ready for you to finish! Total 3,600 sq ft - 1,800 sq ft per side Each unit: 3 Bedrooms, 2.5 Bathrooms Water, electric, and ductwork already completed Perfect for flip, BRRRR, rental portfolio, or house hack! This is a high-demand area and opportunities like this don't last long.

19. 2025-12-01
    listed $275,000 Active 444-char remark

    Show marketing remark (444 chars)

    Investors - Rare Beech Grove Opportunity! Looking for your next profitable project? Check out this brand-new construction duplex in Beech Grove that's ready for you to finish! Total 3,600 sq ft - 1,800 sq ft per side Each unit: 3 Bedrooms, 2.5 Bathrooms Water, electric, and ductwork already completed Perfect for flip, BRRRR, rental portfolio, or house hack! This is a high-demand area and opportunities like this don't last long.

20. 2019-02-23
    historical
21. 2018-06-06
    listed $7,500 Active
22. 2005-03-31
    historical
23. 2002-12-23
    listed $20,000
24. 2002-10-31
    historical
25. 2002-02-22
    listed $19,900
26. 2002-02-06
    historical
27. 2000-11-20
    listed $20,000

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone X (unshaded) · 22% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 4/10 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 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $22,791
• − Mortgage interest: −$13,724
• − Property taxes: −$3,675
• − Insurance: −$1,225
• − Repairs & maintenance: −$1,823
• − Management: −$1,823
• − Depreciation: −$7,127
• Taxable loss: −$6,607
• Est. tax savings @ 24.0%: +$1,586
• After-tax cash flow: $-727/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: Beech Grove City Schools
• NCES district ID: 1800450
• Math proficiency: 17% ▼ -8.00%
• Reading proficiency: 29% ▼ -6.00%
• Median HH income: $38,775
• Composite: 19.28/100
• National rank: #8802
• State rank: #269 of 301 in IN

Livability — Beech Grove

• Score: 63/100
• State rank: #418
• US rank: #15174

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Beech Grove, IN
• County: Marion County · 998,460 people
• City population: 13,020
• Metro: Indianapolis-Carmel-Anderson, IN
• Population (ZIP): 13,020
• Household income: $56,799
• Rent vs Own: 33.0% rent · 67.0% own
• Severe rent burden: 326.0

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 White (88%)
• Race & ethnicity: White 88% Hispanic / Latino 6% Two or more races 4% Black 2%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Slovak 3% Romanian 2% Iranian 2%
• Foreign-born: 3% · Canada, Jamaica
• Languages at home: 97% English-only · Spanish 2% Other Indo-European 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: ▼ -112.00%
• Current HPI: 272.2969
• Rent YoY: —
• 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

+1125.0% since first listed

14 events — show timeline

• 2026-05-18 Price Changed $245,000 MIBOR as Distributed by MLS Grid
• 2026-04-30 Price Changed $248,000 MIBOR as Distributed by MLS Grid
• 2026-04-23 Price Changed $254,500 MIBOR as Distributed by MLS Grid
• 2026-04-11 Price Changed $259,000 MIBOR as Distributed by MLS Grid
• 2026-04-02 Price Changed $264,900 MIBOR as Distributed by MLS Grid
• 2025-12-01 Listed $275,000 MIBOR as Distributed by MLS Grid
• 2019-02-23 Listing Removed — MIBOR as Distributed by MLS Grid
• 2018-06-06 Listed $7,500 MIBOR as Distributed by MLS Grid
• 2005-03-31 Listing Removed — MIBOR as Distributed by MLS Grid
• 2002-12-23 Listed $20,000 MIBOR as Distributed by MLS Grid
• 2002-10-31 Listing Removed — MIBOR as Distributed by MLS Grid
• 2002-02-22 Listed $19,900 MIBOR as Distributed by MLS Grid
• 2002-02-06 Listing Removed — MIBOR as Distributed by MLS Grid
• 2000-11-20 Listed $20,000 MIBOR as Distributed by MLS Grid

Property tax history

+5.6%/yr

Latest (2025): $417 · -1.1% YoY. Source: county tax records.