604 Chariot Ln · Indianapolis city (balance), IN 46227

$1

3 bd · 1.0 ba · 1,711 sqft · SingleFamily public records · 16 Days on market

Built 1966 0.34 ac 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).

• ARV discount +7.5/15.0
• Cash flow +5.2/30.0
• Schools +3.5/10.0
• Rent growth +3.1/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +0.9/10.0
• DSCR +0.0/10.0
• Appreciation +0.0/10.0

Listing remarks

Save the date Saturday, June 27 at 9:30 AM this lovely one owner brick home will be offered for sale at public auction. Offering three bedrooms and two full baths with a full finish basement. If you're looking for space, your search is over. This home offers entry foyer, large spacious living room, opening up to huge kitchen with an abundance of oak cabinetry, breakfast nook area, large family room, three bedrooms and two baths all on the main level. In the basement, you will find a huge game room that is also the family room, offering a wooden bar with storage, separate laundry room, separate partial bathroom that offers a Jacuzzi tub, backup basement unit and could be another bathroom the

Key facts

• Breakfast nook
• Oak cabinetry
• Wooden bar

Tags

• ENTRY FOYER
• HUGE KITCHEN
• OAK CABINETRY
• BREAKFAST NOOK
• GAME ROOM
• WOODEN BAR

Property features AI

Exterior

• Parking: Attached garage with two spaces
• Utilities: Public water; Municipal sewer connected; Municipal solid waste service
• Home design: Single-family residence; One story; Residential property
• Construction: Brick and stone construction; Block foundation
• Exterior features: Covered patio/porch; Deck; Storage shed/outbuilding; Mature trees; City lot

Interior

• Kitchen: Dishwasher; Microwave; Electric oven; Range hood; Refrigerator; Garbage disposal
• Bedrooms: Three bedrooms on the main level
• Flooring: Hardwood floors
• Bathrooms: Two full bathrooms (main level)
• Heating & cooling: Forced air heating (natural gas); Central air conditioning; Whole house fan
• Interior features: Attic pull-down stairs; Hardwood floors; Eat-in kitchen; Woodwork stained/painted
• Laundry & utility: Washer and dryer included; Laundry room located in the basement; Laundry connections throughout

🔨 Auction listing. The $1 list price is a nominal opening bid, not a real ask — every metric below is computed on the estimated value $280,604 (ARV from comps), not the list price.

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $1.

Deal economics

• At list price, monthly cash flow is $-630 ($-8k/yr) — negative.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $1).

Location & tenants

• Location reads: area grade F — affects rentability + tenant quality, not the cash-flow math above.
• Perry Township Schools (urban): math 36% / reading 45% proficiency, ranked #138 of 301 in IN (top 46%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising (+2.5%/yr); 248 active listings in the ZIP; 14 comparable units currently listed for rent nearby; rentals leasing fast (median 12d on market — plan ~1-2 weeks tenant-placement turnaround); 1,906 units permitted in Marion County in 2024 (621 in 5+ unit buildings).
• This rent runs 37% of the median local income ($54k/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 $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

• It's been on market 16 days — a 2% lower offer ($0) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: property tax is 420906.0% of price.

Recommended offer $1

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. Built in 1966 — 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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 0.59% ✗
• Cap rate: 3.60%
• Cash-on-cash: -9.62%
• DSCR: 0.57
• GRM: 14.1

CMA / ARV

• ARV (on-the-fly): $280,604
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
623 Chariot Ln	0.05mi	3/2.0	1,572 (-8%)	4mo	$255,000	$162	77
842 Front Royal Dr	0.31mi	3/2.0	1,624 (-5%)	1mo	$275,000	$169	72
707 Daffon Dr	0.32mi	4/2.0 (+1)	1,652 (-3%)	2mo	$314,000	$190	69
610 Front Royal Dr	0.21mi	3/2.0	1,550 (-9%)	10mo	$270,000	$174	62
8122 S East St	0.25mi	3/1.5	1,458 (-15%)	1mo	$256,000	$176	61
155 Sherry Ln	0.52mi	3/1.5	1,698 (-1%)	14mo	$238,000	$140	61
117 Walleye Ct	0.47mi	3/2.0	1,827 (+7%)	8mo	$225,000	$123	56
101 E Hill Valley Dr	0.62mi	3/1.5	1,506 (-12%)	1mo	$254,900	$169	48
1202 E Stop 10 Rd	0.70mi	4/3.0 (+1)	1,829 (+7%)	8mo	$285,000	$156	36
333 E Waterbury Rd	0.66mi	4/2.0 (+1)	1,872 (+9%)	13mo	$260,000	$139	34
8025 Meadow Ln	0.72mi	4/2.0 (+1)	1,556 (-9%)	11mo	$254,900	$164	33
116 Bennington Rd	0.74mi	4/2.5 (+1)	1,954 (+14%)	11mo	$269,000	$138	21

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 · 2.46% rent growth · sell at horizon

5-year hold

• IRR: -34.1%
• Equity multiple: -0.10×
• Total profit: $-86,452
• Equity at exit: $41,839

10-year hold

• IRR: -46.5%
• Equity multiple: -0.66×
• Total profit: $-130,466
• Equity at exit: $24,262

Cash invested: $78,569 (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 46227

• Rents YoY: 2.5%
• Active inventory: 248

Monthly cashflow live

• Estimated rent: $1,657 high
• Mortgage (P&I): −$1,472
• Tax est. 1.5%: −$351 /mo · $4,209/yr
• Insurance: −$117
• HOA: −$0
• Vacancy / Maint / Mgmt: −$348
• Net cashflow: $-630

Break-even live

Break-even rent $2,455

Max offer price $189,472

Occupancy floor —

Sensitivity live

Price	-10% $-436	-5% $-533	+0% $-630	+5% $-727	+10% $-824
Rent	-10% $-761	-5% $-695	+0% $-630	+5% $-564	+10% $-499
Rate	-1.0pp $-488	-0.5pp $-558	base $-630	+0.5pp $-703	+1.0pp $-776

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: $70,151
• Closing costs: $8,418
• Reserves months: —
• Total cash needed: —

Rent comps 14 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
8141 Valley Estates Dr Indianapolis, IN	3.0	2.0	1302	$1,650	$1.27	8d	1	0.40mi
1009 Lismore Ln Indianapolis, IN	1.0–2.0	1.0–2.0	875	$1,365	$1.56	24d	1	0.56mi
7621 Orchard Village Dr Indianapolis, IN	2.0	2.0	1082	$1,400	$1.29	24d	1	0.73mi
1542 Citrin Pl Indianapolis, IN	3.0	2.5	1299	$1,755	$1.35	4d	1	0.82mi
1542 Citrin Pl Unit 1538 Indianapolis, IN	3.0	2.5	1299	$1,755	$1.35	17d	1	0.82mi
7913 Ella Dobbs Ln Indianapolis, IN	1.0–3.0	1.0–2.0	1021	$1,650	$1.62	24d	1	0.92mi
7266 Lockwood Ln Indianapolis, IN	1.0–2.0	1.0–2.0	824	$1,440	$1.75	3d	18	1.01mi
1451 E Southport Rd Indianapolis, IN	1.0–3.0	1.0–2.5	1250	$1,656	$1.32	2d	13	1.15mi
1933 Lisa Walk Dr Indianapolis, IN	3.0	2.0	1374	$1,670	$1.22	15d	1	1.16mi
6789 S East St Indianapolis, IN	1.0–3.0	1.0–2.0	1075	$1,459	$1.36	2d	24	1.17mi
7536 S Katherine Dr Indianapolis, IN	3.0	2.0	1161	$1,816	$1.56	24d	1	1.19mi
1703 E 12 Rd Stop 12 Indianapolis, IN	3.0	2.0	1840	$1,899	$1.03	11d	1	1.22mi
6512 Bridge Crossing Dr Indianapolis, IN	1.0–2.0	1.0–2.0	965	$2,177	$2.26	2d	27	1.41mi
921 Parliament Pl Greenwood, IN	1.0–3.0	1.0–2.0	994	$1,525	$1.53	3d	30	1.49mi

Listing history 10 events

1. 2026-06-21
   days on market $1 Active 16 DOM
2. 2026-06-18
   days on market $1 Active 13 DOM
3. 2026-06-17
   days on market $1 Active 12 DOM
4. 2026-06-16
   days on market $1 Active 11 DOM
5. 2026-06-15
   days on market $1 Active 10 DOM
6. 2026-06-13
   days on market $1 Active 8 DOM
7. 2026-06-09
   days on market $1 Active 4 DOM
8. 2026-06-08
   days on market $1 Active 3 DOM
9. 2026-06-07
   remarks 699-char remark
10. 2026-06-07
    listed $1 Active 2 DOM

ⓘ 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 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 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: $19,890
• − Mortgage interest: −$15,718
• − Property taxes: −$4,209
• − Insurance: −$1,403
• − Repairs & maintenance: −$1,591
• − Management: −$1,591
• − Depreciation: −$8,163
• Taxable loss: −$12,786
• Est. tax savings @ 24.0%: +$3,069
• After-tax cash flow: $-4,489/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: Perry Township Schools
• NCES district ID: 1808820
• Math proficiency: 36% ▼ -13.00%
• Reading proficiency: 45% ▼ -6.00%
• Median HH income: $47,170
• Composite: 34.61/100
• National rank: #5153
• State rank: #138 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): 57,587
• Household income: $53,629
• Rent vs Own: 55.1% rent · 44.9% own
• Severe rent burden: 3583.0

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 0.59)
• Race & ethnicity: White 61% Asian 12% Black 11% Hispanic / Latino 10% Two or more races 8%
• Hispanic origin (detail): Mexican 8%
• Common ancestry: Italian 2% Slovak 2% Lithuanian 1%
• Foreign-born: 17% · Philippines, Canada, Vietnam
• Languages at home: 79% English-only · Other Asian/Pacific 9% Spanish 7% 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: ▼ -260.49%
• Current HPI: 276.8271
• Rent YoY: ▲ 2.46%
• 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

Property tax history

+6.0%/yr

Latest (2025): $3,392 · -5.2% YoY. Source: county tax records.