3015 Eastern Ave · Indianapolis city (balance), IN 46218

$100,000

2 bd · 1.0 ba · 727 sqft · SingleFamily public records · 65 Days on market

Built 1947 7,362 sqft lot $138/sqft · 58% above area Est $126k · 21% under

---

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 +23.2/30.0
• ARV discount +15.0/15.0
• DSCR +7.4/10.0
• 1% rule +4.7/10.0
• Rent growth +2.7/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.4/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

This property offers a fantastic opportunity for investors looking to add value and generate strong returns. Whether you're looking for your next fix-and-flip or a long-term rental, this home has solid potential with the right vision. Featuring 2 bedrooms and 1 bathroom, this property sits in an area with ongoing growth and redevelopment, making it a smart addition to any investment portfolio. With comparable properties in the area showing strong resale and rental demand, the upside here is clear. Bring your contractor and your ideas. This is your chance to transform this property into a profitable asset.

Key facts

• 7,362 sq ft lot
• Built 1947
• Listed 65 days

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $100k.

Deal economics

• At list price, monthly cash flow is $180 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $97k (2.9% below list).
• Recommended offer: $94k (6.0% below list) — sets the bar for market timing.
• Cap rate 8.5% 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 flat; 334 active listings in the ZIP; 31 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); lower-income renter base — watch delinquency; 1,906 units permitted in Marion County in 2024 (621 in 5+ unit buildings).
• This rent runs 31% of the median local income ($38k/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 $691 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.

Negotiation context

• It's been on market 65 days — a 6% lower offer ($94k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1947 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $94,000 (6.0% below list)

Questions for the listing agent

1. It's been on market 65 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1947 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. 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.
6. 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.
7. 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: 0.97% ✗
• Cap rate: 8.46%
• Cash-on-cash: 7.73%
• DSCR: 1.34
• GRM: 8.6

CMA / ARV

• ARV (median comp): $126,210
• List price: $100,000
• Delta: -20.77%
• 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
3135 N Temple Ave	0.18mi	1/1.0 (-1)	725 (-0%)	4mo	$78,000	$108	83
3114 Adams St	0.44mi	2/1.0	725 (-0%)	3mo	$63,000	$87	77
3105 N Tacoma Ave	0.17mi	2/1.0	696 (-4%)	10mo	$137,500	$198	76
3061 N Tacoma Ave	0.15mi	2/1.0	672 (-8%)	6mo	$43,000	$64	75
2959 N Lasalle St	0.40mi	2/1.0	720 (-1%)	11mo	$59,900	$83	71
2801 Brouse Ave	0.37mi	2/1.0	720 (-1%)	13mo	$74,900	$104	70
2724 N Dearborn St	0.48mi	2/1.0	720 (-1%)	10mo	$95,000	$132	68
2839 N Lasalle St	0.46mi	2/1.0	768 (+6%)	5mo	$55,000	$72	65
3145 Stuart St	0.52mi	2/1.0	725 (-0%)	14mo	$79,000	$109	63
2942 N Dearborn St	0.31mi	2/1.0	825 (+14%)	7mo	$70,000	$85	57
3331 Orchard Ave	0.65mi	2/1.0	720 (-1%)	14mo	$115,000	$160	56
3015 Adams St	0.45mi	2/1.0	819 (+13%)	9mo	$155,000	$189	50

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 · 0.81% rent growth · sell at horizon

5-year hold

• IRR: -6.8%
• Equity multiple: 0.75×
• Total profit: $-6,864
• Equity at exit: $14,910

10-year hold

• IRR: 0.2%
• Equity multiple: 1.01×
• Total profit: $388
• Equity at exit: $8,646

Cash invested: $28,000 (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 46218

• Home prices YoY: -17.1%
• Rents YoY: 0.8%
• Active inventory: 334
• Price-to-rent: 8.6×

Monthly cashflow live

• Estimated rent: $971 high
• Mortgage (P&I): −$524
• Tax from tax record: −$20 /mo · $245/yr
• Insurance: −$42
• HOA: −$0
• Vacancy / Maint / Mgmt: −$204
• Net cashflow: $180

Break-even live

Break-even rent $742

Max offer price $100,000

Occupancy floor 76%

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: $25,000
• Closing costs: $3,000
• Reserves months: —
• Total cash needed: —

Rent comps 31 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2930 N Dearborn St Indianapolis, IN	1.0	1.0	536	$599	$1.12	23d	1	0.32mi
2530 N Temple Ave Indianapolis, IN	1.0	1.0	720	$750	$1.04	20d	1	0.47mi
2821 Oxford Ln Indianapolis, IN	1.0	1.0	640	$825	$1.29	43d	1	0.51mi
3011 Oxford Ln Indianapolis, IN	1.0	1.0	640	$800	$1.25	43d	1	0.55mi
2449 Wheeler St Indianapolis, IN	1.0	1.0	600	$950	$1.58	23d	1	0.61mi
3363 Nicholas Ave Indianapolis, IN	2.0	1.0	720	$1,000	$1.39	3d	1	0.64mi
2519 Baltimore Ave Unit B Indianapolis, IN	2.0	1.0	482	$775	$1.61	23d	1	0.64mi
2722 N Olney St Indianapolis, IN	2.0	1.0	650	$795	$1.22	43d	1	0.66mi
2422 Adams St Unit 2 Indianapolis, IN	1.0	1.0	700	$850	$1.21	43d	1	0.72mi
3421 N Olney St Indianapolis, IN	2.0	1.0	720	$1,195	$1.66	16d	1	0.80mi
2372 Beckwith Dr Indianapolis, IN	4.0	1.0–1.5	779	$1,064	$1.36	1d	32	0.81mi
3383 Station St Indianapolis, IN	3.0	1.0	744	$1,250	$1.68	23d	1	0.87mi
3719 Hillside Ave Indianapolis, IN	1.0	1.0	644	$725	$1.13	23d	1	0.93mi
2846 Doctor Andrew J Brown Ave Indianapolis, IN	1.0	1.0	420	$700	$1.67	43d	1	0.97mi
3709 Kinnear Ave Indianapolis, IN	2.0	1.0	650	$1,000	$1.54	43d	1	0.98mi
3132 Dr Andrew J Brown Ave Indianapolis, IN	2.0	1.0–2.0	791	$2,120	$2.68	1d	46	0.98mi
3763 Baltimore Ave Unit 3765 Indianapolis, IN	1.0	1.0	750	$750	$1.00	43d	1	1.00mi
3723 Orchard Ave Unit 3723 Indianapolis, IN	1.0	1.5	700	$1,300	$1.86	23d	1	1.03mi
3725 N Sherman Dr #7 Indianapolis, IN	2.0	1.0	729	$845	$1.16	3d	1	1.23mi
1931 N Oxford St Indianapolis, IN	1.0	1.0	616	$875	$1.42	3d	1	1.24mi
3519 Balsam Ave Unit 7 Indianapolis, IN	1.0	1.0	450	$850	$1.89	23d	1	1.24mi
3519 Balsam Ave Unit 6 Indianapolis, IN	1.0	1.0	450	$775	$1.72	43d	1	1.24mi
3615 Sherman Forest Dr Indianapolis, IN	4.0	1.0–2.5	1057	$1,288	$1.22	4d	1	1.27mi
3609 Balsam Ave Indianapolis, IN	1.0	1.0	541	$775	$1.43	2d	1	1.30mi
3609 Balsam Ave Indianapolis, IN	1.0	1.0	541	$755	$1.40	14d	1	1.30mi
3610 Balsam Ave Indianapolis, IN	1.0	1.0	464	$775	$1.67	2d	9	1.32mi
2827 E 18th St Indianapolis, IN	2.0	1.0	726	$1,300	$1.79	23d	1	1.39mi
1040 Fairfield Ave Unit 104011 Indianapolis, IN	1.0	1.0	519	$799	$1.54	23d	1	1.39mi
4615 E 30th St Indianapolis, IN	2.0	1.0	660	$1,100	$1.67	23d	1	1.40mi
3058 Brookside Parkway North Dr Indianapolis, IN	1.0	1.0	700	$875	$1.25	12d	1	1.44mi
4115 Meadows Dr Indianapolis, IN	1.0–3.0	1.0–2.0	1013	$1,374	$1.36	43d	9	1.48mi

Listing history 14 events

1. 2026-06-18
   days on market $100,000 Active 65 DOM
2. 2026-06-17
   days on market $100,000 Active 64 DOM
3. 2026-06-16
   days on market $100,000 Active 63 DOM
4. 2026-06-15
   days on market $100,000 Active 62 DOM
5. 2026-06-13
   days on market $100,000 Active 60 DOM
6. 2026-06-13
   days on market $100,000 Active 59 DOM
7. 2026-06-09
   days on market $100,000 Active 56 DOM
8. 2026-06-08
   days on market $100,000 Active 55 DOM
9. 2026-06-07
   days on market $100,000 Active 54 DOM
10. 2026-06-03
    days on market $100,000 Active 50 DOM
11. 2026-06-02
    days on market $100,000 Active 49 DOM
12. 2026-06-01
    days on market $100,000 Active 48 DOM
13. 2026-05-31
    days on market $100,000 Active 47 DOM
14. 2026-04-13
    listed $100,000 Active 612-char remark

    Show marketing remark (612 chars)

    This property offers a fantastic opportunity for investors looking to add value and generate strong returns. Whether you're looking for your next fix-and-flip or a long-term rental, this home has solid potential with the right vision. Featuring 2 bedrooms and 1 bathroom, this property sits in an area with ongoing growth and redevelopment, making it a smart addition to any investment portfolio. With comparable properties in the area showing strong resale and rental demand, the upside here is clear. Bring your contractor and your ideas. This is your chance to transform this property into a profitable asset.

ⓘ 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: $245 · $20/mo
• Projected year-2 tax: $548 · $46/mo
• Expected delta: +$302/yr (+$25/mo · 123.3%)

ⓘ 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 · 18 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: $11,648
• − Mortgage interest: −$5,602
• − Property taxes: −$245
• − Insurance: −$500
• − Repairs & maintenance: −$932
• − Management: −$932
• − Depreciation: −$2,909
• Taxable income: $528
• Est. tax owed @ 24.0%: −$127
• After-tax cash flow: $2,037/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): 29,360
• Household income: $38,063
• Rent vs Own: 47.2% rent · 52.8% own
• Severe rent burden: 2340.0

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 Black (68%)
• Race & ethnicity: Black 68% White 18% Hispanic / Latino 9% Two or more races 6%
• Hispanic origin (detail): Mexican 6%
• Common ancestry: Romanian 1%
• Foreign-born: 5% · Canada, Philippines
• Languages at home: 92% English-only · Spanish 7%

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: ▼ -81.57%
• Current HPI: 395.7071
• Rent YoY: ▲ 0.81%
• 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

1 event — show timeline

• 2026-04-13 Listed $100,000 MIBOR as Distributed by MLS Grid

Property tax history

+3.0%/yr

Latest (2025): $245 · -40.7% YoY. Source: county tax records.