3941 Arthington Blvd · Indianapolis city (balance), IN 46226

$115,500

2 bd · 1.0 ba · 1,096 sqft · SingleFamily public records · 74 Days on market

Built 1942 0.41 ac lot $105/sqft · 29% above area Est $178k · 35% 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).

• ARV discount +15.0/15.0
• Cash flow +14.8/30.0
• 1% rule +5.8/10.0
• DSCR +4.5/10.0
• Rent growth +4.2/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.4/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Nice Starter Home or Investment Property. 2 Bedroom, 1 Bath Home with a 1 car Garage.

Key facts

• 0.41 acre lot
• Garage
• Built 1942

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $116k.

Deal economics

• At list price, monthly cash flow is $31 ($377/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $116k).
• Recommended offer: $109k (6.0% below list) — sets the bar for market timing.
• Cap rate 6.6% 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 (+6.8%/yr); 151 active listings in the ZIP; 34 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); 1,906 units permitted in Marion County in 2024 (621 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $799 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 74 days — a 6% lower offer ($109k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 5y ago; this cycle's ask has dropped $24k (17%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: property tax is 3.1% of price; built in 1942 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $108,570 (6.0% below list)

Questions for the listing agent

1. It's been on market 74 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 1942 — 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: 1.08% ✓
• Cap rate: 6.62%
• Cash-on-cash: 1.16%
• DSCR: 1.05
• GRM: 7.8

CMA / ARV

• ARV (median comp): $178,409
• List price: $115,500
• Delta: -31.90%
• 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
3901 Wallace Ave	0.13mi	2/1.0	1,047 (-4%)	0mo	$55,000	$53	86
4934 E 41st St	0.27mi	3/1.5 (+1)	1,178 (+8%)	9mo	$47,000	$40	61
4850 E 34th St	0.71mi	2/1.0	1,125 (+3%)	5mo	$95,000	$84	58
3938 N Grand Ave	0.43mi	3/1.0 (+1)	993 (-9%)	9mo	$135,000	$136	52
4068 N Drexel Ave	0.22mi	3/1.0 (+1)	1,250 (+14%)	16mo	$215,500	$172	48
4512 E 38th Street North Dr	0.20mi	3/2.0 (+1)	1,200 (+10%)	22mo	$140,000	$117	47
3824 N Butler Ave	0.54mi	3/1.5 (+1)	1,133 (+3%)	22mo	$137,000	$121	44
4858 E 34th St	0.71mi	2/1.0	1,147 (+5%)	19mo	$117,500	$102	43
3955 N Grand Ave	0.47mi	3/1.0 (+1)	993 (-9%)	22mo	$175,000	$176	39
3601 N Emerson Ave	0.59mi	3/1.0 (+1)	1,026 (-6%)	24mo	$27,000	$26	37
3505 N Emerson Ave	0.69mi	3/1.0 (+1)	972 (-11%)	10mo	$115,000	$118	36
3605 N Butler Ave	0.71mi	3/1.0 (+1)	990 (-10%)	19mo	$79,500	$80	30

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 · 6.76% rent growth · sell at horizon

5-year hold

• IRR: -9.5%
• Equity multiple: 0.64×
• Total profit: $-11,730
• Equity at exit: $17,221

10-year hold

• IRR: 5.1%
• Equity multiple: 1.45×
• Total profit: $14,431
• Equity at exit: $9,986

Cash invested: $32,340 (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 46226

• Rents YoY: 6.8%
• Active inventory: 151
• Price-to-rent: 7.8×

Monthly cashflow live

• Estimated rent: $1,242 high
• Mortgage (P&I): −$606
• Tax from tax record: −$296 /mo · $3,550/yr
• Insurance: −$48
• HOA: −$0
• Vacancy / Maint / Mgmt: −$261
• Net cashflow: $31

Break-even live

Break-even rent $1,202

Max offer price $115,500

Occupancy floor 92%

Sensitivity live

Price	-10% $97	-5% $64	+0% $31	+5% $-1	+10% $-34
Rent	-10% $-67	-5% $-18	+0% $31	+5% $80	+10% $129
Rate	-1.0pp $90	-0.5pp $61	base $31	+0.5pp $1	+1.0pp $-29

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: $28,875
• Closing costs: $3,465
• Reserves months: —
• Total cash needed: —

Rent comps 34 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3734 Manor Ct Indianapolis, IN	3.0	1.0	1414	$1,399	$0.99	8d	1	0.30mi
3815 N Grand Ave Unit 3815 Indianapolis, IN	2.0	1.0	965	$1,250	$1.30	5d	1	0.48mi
3461 N Dequincy St Indianapolis, IN	1.0	1.0	900	$720	$0.80	44d	1	0.64mi
3725 N Sherman Dr #7 Indianapolis, IN	2.0	1.0	729	$845	$1.16	4d	1	0.73mi
3516 N Hawthorne Ln Indianapolis, IN	3.0	1.0	925	$1,225	$1.32	5d	1	0.83mi
3615 Sherman Forest Dr Indianapolis, IN	4.0	1.0–2.5	1057	$1,288	$1.22	5d	1	0.83mi
3332 Wallace Ave Indianapolis, IN	3.0	1.0	936	$1,600	$1.71	24d	1	0.85mi
3315 N Euclid Ave Indianapolis, IN	2.0	1.0	780	$1,300	$1.67	15d	1	0.86mi
3316 N Emerson Ave Indianapolis, IN	3.0	1.0	912	$1,100	$1.21	24d	1	0.88mi
3636 N Whittier Pl Indianapolis, IN	3.0	1.0	912	$995	$1.09	8d	1	0.89mi
5602 Glencoe St Indianapolis, IN	3.0	1.0	1000	$1,749	$1.75	18d	1	0.95mi
3301 Mardenna Ave Indianapolis, IN	3.0	1.0	925	$1,200	$1.30	44d	1	0.96mi
4115 Meadows Dr Indianapolis, IN	1.0–3.0	1.0–2.0	1013	$1,374	$1.36	44d	9	0.99mi
3319 N Hawthorne Ln Indianapolis, IN	3.0	1.0	1084	$1,100	$1.01	24d	1	1.05mi
3718 N Audubon Rd Indianapolis, IN	3.0	1.0	875	$1,300	$1.49	24d	1	1.06mi
3142 N Euclid Ave Indianapolis, IN	3.0	1.0	1050	$1,050	$1.00	44d	1	1.07mi
3522 N Olney St Indianapolis, IN	3.0	1.0	768	$1,300	$1.69	44d	1	1.09mi
3383 Station St Indianapolis, IN	3.0	1.0	744	$1,250	$1.68	24d	1	1.09mi
3149 N Gladstone Ave Indianapolis, IN	3.0	1.5	1036	$1,350	$1.30	8d	1	1.11mi
3421 N Olney St Indianapolis, IN	2.0	1.0	720	$1,195	$1.66	17d	1	1.14mi
3836 Priscilla Ave Indianapolis, IN	3.0	1.5	1040	$1,275	$1.23	2d	1	1.14mi
4320 E 30th St Indianapolis, IN	3.0	1.5	1152	$1,195	$1.04	24d	1	1.26mi
2950 N Dequincy St Indianapolis, IN	3.0	1.0	888	$1,375	$1.55	14d	1	1.30mi
2932 Arthington Blvd Indianapolis, IN	3.0	1.0	900	$1,350	$1.50	24d	1	1.33mi
3472 N Dearborn St Indianapolis, IN	2.0	1.0	890	$1,099	$1.23	20d	1	1.34mi
3920 E 30th St Indianapolis, IN	3.0	1.0	1071	$1,350	$1.26	8d	1	1.35mi
3920 E 30th St Indianapolis, IN	3.0	1.0	1071	$1,350	$1.26	5d	1	1.35mi
5865 E 46th St Indianapolis, IN	3.0	2.0	1400	$1,500	$1.07	44d	1	1.40mi
3535 N Oxford St Indianapolis, IN	3.0	1.0	1015	$1,500	$1.48	22d	1	1.43mi
4400 E Fall Creek Parkway North Dr Indianapolis, IN	1.0–2.0	1.0–1.5	857	$1,349	$1.57	2d	31	1.43mi
3070 N Layman Ave #1 Indianapolis, IN	3.0	2.0	1480	$1,700	$1.15	44d	1	1.44mi
2864 Forest Manor Ave Indianapolis, IN	3.0	1.0	1018	$1,500	$1.47	24d	1	1.47mi
3039 E 47th St Indianapolis, IN	2.0	2.0	1133	$1,086	$0.96	3d	7	1.49mi
3031 E 47th St Apt E Indianapolis, IN	2.0	2.0	1133	$1,074	$0.95	8d	1	1.50mi

Listing history 23 events

1. 2026-06-18
   price $115,500 Active 74 DOM
2. 2026-06-18
   days on market $121,500 Active 74 DOM
3. 2026-06-17
   days on market $121,500 Active 73 DOM
4. 2026-06-16
   days on market $121,500 Active 72 DOM
5. 2026-06-15
   status $121,500 Active 71 DOM
6. 2026-06-13
   statusdays on market $121,500 Pending 71 DOM
7. 2026-06-09
   days on market $121,500 Active 69 DOM
8. 2026-06-08
   days on market $121,500 Active 68 DOM
9. 2026-06-07
   pricedays on market $121,500 Active 67 DOM
10. 2026-06-03
    days on market $127,500 Active 63 DOM
11. 2026-06-02
    days on market $127,500 Active 62 DOM
12. 2026-06-01
    days on market $127,500 Active 61 DOM
13. 2026-05-31
    days on market $127,500 Active 60 DOM
14. 2026-05-06
    price $132,900 85-char remark

    Show marketing remark (85 chars)

    Nice Starter Home or Investment Property. 2 Bedroom, 1 Bath Home with a 1 car Garage.

15. 2026-04-27
    status Active 85-char remark

    Show marketing remark (85 chars)

    Nice Starter Home or Investment Property. 2 Bedroom, 1 Bath Home with a 1 car Garage.

16. 2026-04-01
    status Pending 85-char remark

    Show marketing remark (85 chars)

    Nice Starter Home or Investment Property. 2 Bedroom, 1 Bath Home with a 1 car Garage.

17. 2026-03-20
    status Active 85-char remark

    Show marketing remark (85 chars)

    Nice Starter Home or Investment Property. 2 Bedroom, 1 Bath Home with a 1 car Garage.

18. 2026-03-10
    status Pending 85-char remark

    Show marketing remark (85 chars)

    Nice Starter Home or Investment Property. 2 Bedroom, 1 Bath Home with a 1 car Garage.

19. 2026-02-24
    listed $139,900 Active 85-char remark

    Show marketing remark (85 chars)

    Nice Starter Home or Investment Property. 2 Bedroom, 1 Bath Home with a 1 car Garage.

20. 2021-11-30
    historical
21. 2021-11-26
    listed $125,000 Active
22. 2021-11-24
    historical
23. 2021-11-08
    listed $125,000 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: $3,550 · $296/mo
• Projected year-2 tax: $3,550 · $296/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 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 4/10 Moderate 5 unhealthy d/yr today · 7 by 30 yrs out

Taxation est. · year 1

• Rental income: $14,902
• − Mortgage interest: −$6,470
• − Property taxes: −$3,550
• − Insurance: −$578
• − Repairs & maintenance: −$1,192
• − Management: −$1,192
• − Depreciation: −$3,360
• Taxable loss: −$1,440
• Est. tax savings @ 24.0%: +$346
• After-tax cash flow: $722/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): 47,099
• Household income: $50,325
• Rent vs Own: 53.8% rent · 46.2% own
• Severe rent burden: 2742.0

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 53% White 25% Hispanic / Latino 17% Two or more races 9% Asian 2%
• Hispanic origin (detail): Mexican 11%
• Common ancestry: Lithuanian 1% Italian 1% Romanian 1%
• Foreign-born: 11% · Canada
• Languages at home: 86% English-only · Spanish 10% French/Haitian/Cajun 1% Other Asian/Pacific 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: ▼ -218.85%
• Current HPI: 239.43
• Rent YoY: ▲ 6.76%
• 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

+6.3% since first listed

10 events — show timeline

• 2026-05-06 Price Changed $132,900 MIBOR as Distributed by MLS Grid
• 2026-04-27 Relisted — MIBOR as Distributed by MLS Grid
• 2026-04-01 Pending — MIBOR as Distributed by MLS Grid
• 2026-03-20 Relisted — MIBOR as Distributed by MLS Grid
• 2026-03-10 Pending — MIBOR as Distributed by MLS Grid
• 2026-02-24 Listed $139,900 MIBOR as Distributed by MLS Grid
• 2021-11-30 Listing Removed — MIBOR as Distributed by MLS Grid
• 2021-11-26 Listed $125,000 MIBOR as Distributed by MLS Grid
• 2021-11-24 Listing Removed — MIBOR as Distributed by MLS Grid
• 2021-11-08 Listed $125,000 MIBOR as Distributed by MLS Grid

Property tax history

+12.6%/yr

Latest (2025): $3,550 · +14.8% YoY. Source: county tax records.