1467 Blaine Ave · Indianapolis city (balance), IN 46221

$74,900

3 bd · 1.0 ba · 980 sqft · SingleFamily public records · 181 Days on market

Built 1920 3,703 sqft lot $76/sqft · 49% below area Est $147k · 49% 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 +2.9/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.4/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Excellent investment opportunity on Indy's Westside! Property is nearly ready to rent but needs some work. Close to interstate and Downtown access! Citizen's Energy is requiring the water meter be moved from crawlspace (access in bedroom closet) to outside before services will be restored. Additional 7 properties available from same seller/agent, also vacant, varying condition. Property is sold in Receivership - requires UNITED STATES DISTRICT COURT FOR THE SOUTHERN DISTRICT OF NEW YORK approval of contract prior to closing. Property is sold as-is. Seller will not assume responsibility for any required repairs to the home to qualify for financing. Buyer to be responsible for all costs on the settlement statement except for Seller paid commissions and management fees. Please see the attached documents. The Seller Addendum must be executed and delivered with all Purchase Offers along with all disclosures and proof of funds. Property is sold as-is. Seller will not assume responsibility for any required repairs to the home to qualify for financing. Seller Addendum is required and must be delivered along with Purchase Offer, disclosures, and proof of funds/pre-approval. See MLS docs. Electric is on, gas and water are off and will NOT be turned on for sale.

Key facts

• 3,703 sq ft lot
• Built 1920
• Listed 180 days

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $75k.

Deal economics

• At list price, monthly cash flow is $729 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $75k).
• Recommended offer: $66k (12.0% below list) — sets the bar for market timing.
• Cap rate 18.0% 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 (+1.8%/yr); 43 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals at typical pace (median 25d 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 $518 of loan paydown is wiped out by about $2k 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 + 1.8% rent growth), your $21k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 181 days — a 12% lower offer ($66k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 19y ago; this cycle's ask has dropped $5k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $42k; list at $75k implies a 79% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $65,912 (12.0% below list)

Questions for the listing agent

1. It's been on market 181 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1920 — 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: 2.15% ✓
• Cap rate: 17.97%
• Cash-on-cash: 41.71%
• DSCR: 2.86
• GRM: 3.9

CMA / ARV

• ARV (median comp): $146,869
• List price: $74,900
• Delta: -49.00%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1546 Kappes St	0.36mi	2/1.0 (-1)	1,004 (+2%)	11mo	$164,000	$163	65
1801 W Morris St	0.41mi	3/1.5	1,056 (+8%)	12mo	$189,000	$179	56
1445 S Belmont Ave	0.44mi	3/2.0	1,062 (+8%)	13mo	$130,000	$122	51
1367 S Sheffield Ave	0.53mi	3/1.0	1,090 (+11%)	19mo	$165,000	$151	41
2121 Howard St	0.51mi	3/1.0	1,080 (+10%)	23mo	$150,000	$139	40
920 Arbor Ave	0.70mi	3/1.0	902 (-8%)	19mo	$140,000	$155	38

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 · 1.79% rent growth · sell at horizon

5-year hold

• IRR: 36.9%
• Equity multiple: 2.54×
• Total profit: $32,391
• Equity at exit: $11,168

10-year hold

• IRR: 42.9%
• Equity multiple: 4.83×
• Total profit: $80,392
• Equity at exit: $6,476

Cash invested: $20,972 (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 46221

• Home prices YoY: -23.7%
• Rents YoY: 1.8%
• Active inventory: 43
• Price-to-rent: 3.9×

Monthly cashflow live

• Estimated rent: $1,610 high
• Mortgage (P&I): −$393
• Tax from tax record: −$119 /mo · $1,428/yr
• Insurance: −$31
• HOA: −$0
• Vacancy / Maint / Mgmt: −$338
• Net cashflow: $729

Break-even live

Break-even rent $687

Max offer price $74,900

Occupancy floor 50%

Sensitivity live

Price	-10% $771	-5% $750	+0% $729	+5% $708	+10% $687
Rent	-10% $602	-5% $665	+0% $729	+5% $793	+10% $856
Rate	-1.0pp $767	-0.5pp $748	base $729	+0.5pp $710	+1.0pp $690

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: $18,725
• Closing costs: $2,247
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1339 W Lee St Indianapolis, IN	2.0	1.5	960	$975	$1.02	4d	1	0.25mi
1801 W Morris St Indianapolis, IN	3.0	1.5	1056	$1,795	$1.70	45d	1	0.40mi
1105 Blaine Ave Indianapolis, IN	1.0–2.0	1.0–2.5	1157	$1,795	$1.55	25d	1	0.48mi
1909 S Pershing Ave Indianapolis, IN	3.0	1.5	728	$1,750	$2.40	4d	1	0.69mi
841 S Addison St Indianapolis, IN	2.0	1.0	750	$1,295	$1.73	45d	1	1.04mi
101 S Harding St Apt 307 Indianapolis, IN	2.0	2.0	970	$1,685	$1.74	4d	1	1.37mi

Listing history 23 events

1. 2026-06-21
   days on market $74,900 Active 181 DOM
2. 2026-06-18
   days on market $74,900 Active 178 DOM
3. 2026-06-17
   days on market $74,900 Active 177 DOM
4. 2026-06-16
   days on market $74,900 Active 176 DOM
5. 2026-06-15
   days on market $74,900 Active 175 DOM
6. 2026-06-13
   days on market $74,900 Active 173 DOM
7. 2026-06-13
   days on market $74,900 Active 172 DOM
8. 2026-06-09
   days on market $74,900 Active 169 DOM
9. 2026-06-08
   days on market $74,900 Active 168 DOM
10. 2026-06-07
    days on market $74,900 Active 167 DOM
11. 2026-06-03
    days on market $74,900 Active 163 DOM
12. 2026-06-02
    days on market $74,900 Active 162 DOM
13. 2026-06-01
    days on market $74,900 Active 161 DOM
14. 2026-05-31
    days on market $74,900 Active 160 DOM
15. 2026-03-17
    status Active 1271-char remark

    Show marketing remark (1271 chars)

    Excellent investment opportunity on Indy's Westside! Property is nearly ready to rent but needs some work. Close to interstate and Downtown access! Citizen's Energy is requiring the water meter be moved from crawlspace (access in bedroom closet) to outside before services will be restored. Additional 7 properties available from same seller/agent, also vacant, varying condition. Property is sold in Receivership - requires UNITED STATES DISTRICT COURT FOR THE SOUTHERN DISTRICT OF NEW YORK approval of contract prior to closing. Property is sold as-is. Seller will not assume responsibility for any required repairs to the home to qualify for financing. Buyer to be responsible for all costs on the settlement statement except for Seller paid commissions and management fees. Please see the attached documents. The Seller Addendum must be executed and delivered with all Purchase Offers along with all disclosures and proof of funds. Property is sold as-is. Seller will not assume responsibility for any required repairs to the home to qualify for financing. Seller Addendum is required and must be delivered along with Purchase Offer, disclosures, and proof of funds/pre-approval. See MLS docs. Electric is on, gas and water are off and will NOT be turned on for sale.

16. 2026-02-18
    status Pending 1271-char remark

    Show marketing remark (1271 chars)

    Excellent investment opportunity on Indy's Westside! Property is nearly ready to rent but needs some work. Close to interstate and Downtown access! Citizen's Energy is requiring the water meter be moved from crawlspace (access in bedroom closet) to outside before services will be restored. Additional 7 properties available from same seller/agent, also vacant, varying condition. Property is sold in Receivership - requires UNITED STATES DISTRICT COURT FOR THE SOUTHERN DISTRICT OF NEW YORK approval of contract prior to closing. Property is sold as-is. Seller will not assume responsibility for any required repairs to the home to qualify for financing. Buyer to be responsible for all costs on the settlement statement except for Seller paid commissions and management fees. Please see the attached documents. The Seller Addendum must be executed and delivered with all Purchase Offers along with all disclosures and proof of funds. Property is sold as-is. Seller will not assume responsibility for any required repairs to the home to qualify for financing. Seller Addendum is required and must be delivered along with Purchase Offer, disclosures, and proof of funds/pre-approval. See MLS docs. Electric is on, gas and water are off and will NOT be turned on for sale.

17. 2026-02-09
    price $74,900 1271-char remark

    Show marketing remark (1271 chars)

    Excellent investment opportunity on Indy's Westside! Property is nearly ready to rent but needs some work. Close to interstate and Downtown access! Citizen's Energy is requiring the water meter be moved from crawlspace (access in bedroom closet) to outside before services will be restored. Additional 7 properties available from same seller/agent, also vacant, varying condition. Property is sold in Receivership - requires UNITED STATES DISTRICT COURT FOR THE SOUTHERN DISTRICT OF NEW YORK approval of contract prior to closing. Property is sold as-is. Seller will not assume responsibility for any required repairs to the home to qualify for financing. Buyer to be responsible for all costs on the settlement statement except for Seller paid commissions and management fees. Please see the attached documents. The Seller Addendum must be executed and delivered with all Purchase Offers along with all disclosures and proof of funds. Property is sold as-is. Seller will not assume responsibility for any required repairs to the home to qualify for financing. Seller Addendum is required and must be delivered along with Purchase Offer, disclosures, and proof of funds/pre-approval. See MLS docs. Electric is on, gas and water are off and will NOT be turned on for sale.

18. 2025-11-24
    listed $79,900 Active 1271-char remark

    Show marketing remark (1271 chars)

    Excellent investment opportunity on Indy's Westside! Property is nearly ready to rent but needs some work. Close to interstate and Downtown access! Citizen's Energy is requiring the water meter be moved from crawlspace (access in bedroom closet) to outside before services will be restored. Additional 7 properties available from same seller/agent, also vacant, varying condition. Property is sold in Receivership - requires UNITED STATES DISTRICT COURT FOR THE SOUTHERN DISTRICT OF NEW YORK approval of contract prior to closing. Property is sold as-is. Seller will not assume responsibility for any required repairs to the home to qualify for financing. Buyer to be responsible for all costs on the settlement statement except for Seller paid commissions and management fees. Please see the attached documents. The Seller Addendum must be executed and delivered with all Purchase Offers along with all disclosures and proof of funds. Property is sold as-is. Seller will not assume responsibility for any required repairs to the home to qualify for financing. Seller Addendum is required and must be delivered along with Purchase Offer, disclosures, and proof of funds/pre-approval. See MLS docs. Electric is on, gas and water are off and will NOT be turned on for sale.

19. 2019-07-30
    historical
20. 2019-05-21
    listed $65,000 Active
21. 2008-10-07
    historical
22. 2007-10-23
    listed $45,000
23. 2000-08-04
    soldstatus $41,895

ⓘ 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: $1,428 · $119/mo
• Projected year-2 tax: $1,428 · $119/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 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: $19,320
• − Mortgage interest: −$4,196
• − Property taxes: −$1,428
• − Insurance: −$374
• − Repairs & maintenance: −$1,546
• − Management: −$1,546
• − Depreciation: −$2,179
• Taxable income: $8,052
• Est. tax owed @ 24.0%: −$1,932
• After-tax cash flow: $6,815/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): 27,027
• Household income: $65,280
• Rent vs Own: 38.2% rent · 61.8% own
• Severe rent burden: 1011.0

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 (69%)
• Race & ethnicity: White 69% Black 13% Hispanic / Latino 13% Two or more races 7%
• Hispanic origin (detail): Mexican 7%
• Common ancestry: Italian 2% Iranian 2% Lithuanian 2%
• Foreign-born: 9% · Canada, China
• Languages at home: 87% English-only · Spanish 9% Arabic 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: ▼ -97.56%
• Current HPI: 313.4711
• Rent YoY: ▲ 1.79%
• 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

+78.8% since first listed

9 events — show timeline

• 2026-03-17 Relisted — MIBOR as Distributed by MLS Grid
• 2026-02-18 Pending — MIBOR as Distributed by MLS Grid
• 2026-02-09 Price Changed $74,900 MIBOR as Distributed by MLS Grid
• 2025-11-24 Listed $79,900 MIBOR as Distributed by MLS Grid
• 2019-07-30 Listing Removed — MIBOR as Distributed by MLS Grid
• 2019-05-21 Listed $65,000 MIBOR as Distributed by MLS Grid
• 2008-10-07 Listing Removed — MIBOR as Distributed by MLS Grid
• 2007-10-23 Listed $45,000 MIBOR as Distributed by MLS Grid
• 2000-08-04 Sold (Public Records) $41,895 Public Records

Property tax history

+8.5%/yr

Latest (2025): $1,428 · +12.5% YoY. Source: county tax records.