3539 Brouse Ave · Indianapolis city (balance), IN 46218

$125,000

3 bd · 1.0 ba · 1,041 sqft · SingleFamily public records · 49 Days on market

Built 1949 5,358 sqft lot $120/sqft · 79% above area Est $140k · 10% 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).

• Cash flow +26.6/30.0
• ARV discount +12.2/15.0
• DSCR +9.1/10.0
• 1% rule +7.0/10.0
• 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

Calling all investors! Great home to add to your portfolio complete with a long term tenant already in place. No HOA. Don't miss this opportunity! Current tenant just renewed lease for another year. Current rent is $830.00 per month. Showings on weekends only 11am-3pm due to tenant occupancy.

Key facts

• 5,358 sq ft lot
• Built 1949
• Listed 48 days

Property features AI

Finance

• Other: Property classified as residential on approximately 0.12 acre; Basement present (unfinished)

Exterior

• Parking: Street parking and alley access (no garage)
• Utilities: Public water; Municipal sewer connection; Municipal solid waste service
• Home design: Single-family residence; One level; Faces west
• Construction: Vinyl siding; Concrete perimeter foundation
• Exterior features: Covered porch/patio; Chain link fence

Interior

• Kitchen: Kitchen on the main level
• Bedrooms: 3 bedrooms on the main level
• Bathrooms: 1 full bathroom on the main level
• Heating & cooling: Forced air heating (natural gas); Central air conditioning
• Interior features: Water heater; Smoke alarm
• Laundry & utility: Washer/dryer connections in basement

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $125k.

Deal economics

• At list price, monthly cash flow is $334 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $125k).
• Recommended offer: $121k (3.0% below list) — sets the bar for market timing.
• Cap rate 9.5% 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.
• Zoned schools: Center For Inquiry School 27 (math 25% / reading 29%, grade F, #737 of 994 statewide, top 76%, 525 students, 51% FRL); H L Harshman Middle School (math 3% / reading 16%, grade F, #316 of 330 statewide, top 96%, 549 students, 84% FRL); Arsenal Technical High School (math 6% / reading 27%, grade F, #353 of 369 statewide, top 96%, 2,366 students, 74% FRL).
• Market conditions: Rents flat; 338 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 19d 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).
• At $1,495/mo this rent would consume 47% of the median local household income ($38k/yr) (locally 2340% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $864 of loan paydown is wiped out by about $4k 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 49 days — a 3% lower offer ($121k) is reasonable based on typical stale-listing flexibility.
• 9 sale attempts since 20y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $95k; 32% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1949 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $121,250 (3.0% below list)

Questions for the listing agent

1. It's been on market 49 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1949 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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.
5. 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.
6. 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: 1.20% ✓
• Cap rate: 9.50%
• Cash-on-cash: 11.47%
• DSCR: 1.51
• GRM: 7.0

CMA / ARV

• ARV (median comp): $139,516
• List price: $125,000
• Delta: -10.40%
• 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
3724 Caroline Ave	0.25mi	3/1.0	1,032 (-1%)	8mo	$72,000	$70	80
2324 E 36th St	0.05mi	3/2.5	1,062 (+2%)	12mo	$190,000	$179	78
3710 Orchard Ave	0.34mi	4/1.0 (+1)	1,044 (+0%)	11mo	$142,000	$136	69
3034 E 35th St	0.57mi	3/1.5	1,080 (+4%)	8mo	$63,000	$58	59
3612 Schofield Ave	0.40mi	3/1.0	950 (-9%)	11mo	$126,000	$133	57
3460 N Oxford St	0.40mi	3/1.0	1,176 (+13%)	6mo	$50,000	$43	55
3125 N Tacoma Ave	0.55mi	3/1.5	1,104 (+6%)	9mo	$175,000	$159	54
3932 Millersville Dr	0.47mi	3/1.0	925 (-11%)	10mo	$100,000	$108	52
3263 Schofield Ave	0.56mi	3/1.0	1,194 (+15%)	2mo	$73,600	$62	48
3134 Orchard Ave	0.60mi	4/1.0 (+1)	1,104 (+6%)	13mo	$190,000	$172	46
3624 N Parker Ave	0.48mi	3/2.0	1,179 (+13%)	8mo	$125,000	$106	45
3038 Baltimore Ave	0.68mi	2/1.0 (-1)	924 (-11%)	4mo	$98,500	$107	41

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: -1.7%
• Equity multiple: 0.94×
• Total profit: $-2,167
• Equity at exit: $18,638

10-year hold

• IRR: 5.5%
• Equity multiple: 1.37×
• Total profit: $12,927
• Equity at exit: $10,808

Cash invested: $35,000 (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: 338
• Price-to-rent: 7.0×

Monthly cashflow live

• Estimated rent: $1,495 high
• Mortgage (P&I): −$656
• Tax from tax record: −$139 /mo · $1,671/yr
• Insurance: −$52
• HOA: −$0
• Vacancy / Maint / Mgmt: −$314
• Net cashflow: $334

Break-even live

Break-even rent $1,072

Max offer price $125,000

Occupancy floor 73%

Sensitivity live

Price	-10% $405	-5% $370	+0% $334	+5% $299	+10% $264
Rent	-10% $216	-5% $275	+0% $334	+5% $394	+10% $453
Rate	-1.0pp $397	-0.5pp $366	base $334	+0.5pp $302	+1.0pp $269

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: $31,250
• Closing costs: $3,750
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3448 Hillside Ave Indianapolis, IN	3.0	1.0	1305	$1,800	$1.38	0d	1	0.12mi
3532 Caroline Ave Indianapolis, IN	4.0	1.0	1177	$2,299	$1.95	45d	1	0.16mi
3363 Nicholas Ave Indianapolis, IN	2.0	1.0	720	$1,000	$1.39	5d	1	0.28mi
3741 N Tacoma Ave Indianapolis, IN	3.0	1.0	913	$2,200	$2.41	19d	1	0.30mi
1902 E 35th St Indianapolis, IN	3.0	1.0	1100	$1,600	$1.45	45d	1	0.35mi
3535 N Oxford St Indianapolis, IN	3.0	1.0	1015	$1,500	$1.48	23d	1	0.44mi
3121 Baltimore Ave Indianapolis, IN	3.0	1.0	1232	$7,865	$6.38	9d	1	0.53mi
3472 N Dearborn St Indianapolis, IN	2.0	1.0	890	$1,099	$1.23	21d	1	0.58mi
3436 N Lasalle St Indianapolis, IN	3.0	1.0	1118	$1,300	$1.16	0d	1	0.69mi
3207 N Arsenal Ave Indianapolis, IN	3.0	1.0	994	$1,195	$1.20	25d	1	0.77mi
3207 N Arsenal Ave Indianapolis, IN	3.0	1.0	994	$1,195	$1.20	0d	1	0.77mi
2931 N Tacoma Ave Unit 31 Indianapolis, IN	2.0	1.0	800	$950	$1.19	9d	1	0.79mi
2931 N Tacoma Ave Unit 31 Indianapolis, IN	2.0	1.0	800	$950	$1.19	0d	1	0.79mi
3522 N Olney St Indianapolis, IN	3.0	1.0	768	$1,300	$1.69	45d	1	0.83mi
3421 N Olney St Indianapolis, IN	2.0	1.0	720	$1,195	$1.66	18d	1	0.88mi
3541 Birchwood Ave Indianapolis, IN	3.0	1.0	1400	$1,549	$1.11	13d	1	0.88mi
3132 Dr Andrew J Brown Ave Indianapolis, IN	2.0	1.0–2.0	791	$2,120	$2.68	3d	46	0.89mi
3476 Birchwood Ave Indianapolis, IN	3.0	1.5	1420	$1,625	$1.14	25d	1	0.90mi
2820 Caroline Ave Indianapolis, IN	3.0	1.5	1112	$1,250	$1.12	25d	1	0.93mi
4301 Crittenden Ave Indianapolis, IN	2.0	1.0	1376	$1,350	$0.98	45d	1	0.98mi
916 Fairfield Ave Unit 918 Indianapolis, IN	3.0	1.0	1000	$1,300	$1.30	9d	1	1.00mi
4303 Norwaldo Ave Indianapolis, IN	3.0	1.0	1050	$1,200	$1.14	45d	1	1.01mi
3509 Guilford Ave Indianapolis, IN	3.0	1.5	1351	$1,445	$1.07	16d	1	1.02mi
3615 Sherman Forest Dr Indianapolis, IN	4.0	1.0–2.5	1057	$1,544	$1.46	6d	1	1.02mi
2920 N Lasalle St Indianapolis, IN	3.0	1.0	875	$1,095	$1.25	19d	1	1.02mi
3909 Winthrop Ave Unit B Indianapolis, IN	2.0	1.5	931	$1,550	$1.66	13d	1	1.03mi
3139 Guilford Ave Indianapolis, IN	3.0	1.0	1068	$1,345	$1.26	45d	1	1.03mi
4326 Crittenden Ave Indianapolis, IN	2.0	1.0	812	$1,045	$1.29	22d	1	1.04mi
3383 Station St Indianapolis, IN	3.0	1.0	744	$1,250	$1.68	25d	1	1.04mi
3530 Guilford Ave Indianapolis, IN	3.0	2.0	1426	$1,500	$1.05	0d	1	1.04mi
2906 N Lasalle St Indianapolis, IN	4.0	1.0	1032	$950	$0.92	25d	1	1.04mi
4115 Meadows Dr Indianapolis, IN	1.0–3.0	1.0–2.0	1013	$1,592	$1.57	45d	9	1.05mi
2949 Adams St Indianapolis, IN	2.0	1.0	978	$1,150	$1.18	45d	1	1.05mi
4309 Ralston Ave Indianapolis, IN	3.0	1.0	918	$1,600	$1.74	16d	1	1.07mi
3203 Sutherland Ave Unit 1310761P Indianapolis, IN	2.0	1.0	1097	$3,668	$3.34	3d	1	1.08mi
3110 Guilford Ave Indianapolis, IN	3.0	1.5	1250	$1,295	$1.04	25d	1	1.10mi
3165 Station St Unit A Indianapolis, IN	2.0	1.0	768	$1,000	$1.30	0d	1	1.11mi
2616 Caroline Ave Indianapolis, IN	4.0	1.0	1276	$1,300	$1.02	45d	1	1.12mi
2830 Lasalle St Unit 28 Indianapolis, IN	2.0	1.0	1400	$1,025	$0.73	0d	1	1.12mi
3725 N Sherman Dr #7 Indianapolis, IN	2.0	1.0	729	$845	$1.16	0d	1	1.12mi

Listing history 36 events

1. 2026-06-21
   days on market $125,000 Active 49 DOM
2. 2026-06-18
   days on market $125,000 Active 46 DOM
3. 2026-06-17
   days on market $125,000 Active 45 DOM
4. 2026-06-16
   days on market $125,000 Active 44 DOM
5. 2026-06-15
   days on market $125,000 Active 43 DOM
6. 2026-06-13
   days on market $125,000 Active 41 DOM
7. 2026-06-13
   days on market $125,000 Active 40 DOM
8. 2026-06-09
   days on market $125,000 Active 37 DOM
9. 2026-06-08
   days on market $125,000 Active 36 DOM
10. 2026-06-07
    days on market $125,000 Active 35 DOM
11. 2026-06-03
    days on market $125,000 Active 31 DOM
12. 2026-06-02
    days on market $125,000 Active 30 DOM
13. 2026-06-01
    days on market $125,000 Active 29 DOM
14. 2026-05-31
    days on market $125,000 Active 28 DOM
15. 2026-05-04
    listed $125,000 Active 507-char remark
16. 2022-05-02
    soldstatus $95,000 Closed 293-char remark

    Show marketing remark (293 chars)

    Calling all investors! Great home to add to your portfolio complete with a long term tenant already in place. No HOA. Don't miss this opportunity! Current tenant just renewed lease for another year. Current rent is $830.00 per month. Showings on weekends only 11am-3pm due to tenant occupancy.

17. 2022-04-21
    status Pending 293-char remark

    Show marketing remark (293 chars)

    Calling all investors! Great home to add to your portfolio complete with a long term tenant already in place. No HOA. Don't miss this opportunity! Current tenant just renewed lease for another year. Current rent is $830.00 per month. Showings on weekends only 11am-3pm due to tenant occupancy.

18. 2022-04-15
    listed $99,900 Active 293-char remark

    Show marketing remark (293 chars)

    Calling all investors! Great home to add to your portfolio complete with a long term tenant already in place. No HOA. Don't miss this opportunity! Current tenant just renewed lease for another year. Current rent is $830.00 per month. Showings on weekends only 11am-3pm due to tenant occupancy.

19. 2016-09-07
    soldstatus $13,500 Sold

    Show marketing remark (92 chars)

    This 3 bedroom, 1 bath home is a great opportunity for an Investor or Homeowner. Sold As-Is.

20. 2016-08-12
    status Pending

    Show marketing remark (92 chars)

    This 3 bedroom, 1 bath home is a great opportunity for an Investor or Homeowner. Sold As-Is.

21. 2016-07-08
    listed $19,900 Active

    Show marketing remark (92 chars)

    This 3 bedroom, 1 bath home is a great opportunity for an Investor or Homeowner. Sold As-Is.

22. 2015-12-30
    historical
23. 2015-11-18
    price $19,900
24. 2015-10-06
    listed $25,000 Active
25. 2015-06-02
    soldstatus $17,000 Sold
26. 2015-05-21
    status Pending
27. 2015-03-10
    listed $18,000 Active
28. 2012-09-07
    historical
29. 2011-09-06
    listed $45,000
30. 2011-07-18
    historical
31. 2011-07-15
    soldstatus $9,000
32. 2010-09-03
    listed $12,000
33. 2006-11-29
    soldstatus $19,000
34. 2006-08-16
    listed $24,900
35. 2006-08-14
    historical
36. 2006-02-15
    listed $59,900

ⓘ 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: $1,671 · $139/mo
• Projected year-2 tax: $1,671 · $139/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 ≥102°F today · 18 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 0% 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: $17,944
• − Mortgage interest: −$7,002
• − Property taxes: −$1,671
• − Insurance: −$625
• − Repairs & maintenance: −$1,435
• − Management: −$1,435
• − Depreciation: −$3,636
• Taxable income: $2,138
• Est. tax owed @ 24.0%: −$513
• After-tax cash flow: $3,500/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

+108.7% since first listed

22 events — show timeline

• 2026-05-04 Listed $125,000 MIBOR as Distributed by MLS Grid
• 2022-05-02 Sold (MLS) $95,000 MIBOR as Distributed by MLS Grid
• 2022-04-21 Pending — MIBOR as Distributed by MLS Grid
• 2022-04-15 Listed $99,900 MIBOR as Distributed by MLS Grid
• 2016-09-07 Sold (MLS) $13,500 MIBOR as Distributed by MLS Grid
• 2016-08-12 Pending — MIBOR as Distributed by MLS Grid
• 2016-07-08 Listed $19,900 MIBOR as Distributed by MLS Grid
• 2015-12-30 Listing Removed — MIBOR as Distributed by MLS Grid
• 2015-11-18 Price Changed $19,900 MIBOR as Distributed by MLS Grid
• 2015-10-06 Listed $25,000 MIBOR as Distributed by MLS Grid
• 2015-06-02 Sold (MLS) $17,000 MIBOR as Distributed by MLS Grid
• 2015-05-21 Pending — MIBOR as Distributed by MLS Grid
• 2015-03-10 Listed $18,000 MIBOR as Distributed by MLS Grid
• 2012-09-07 Listing Removed — MIBOR as Distributed by MLS Grid
• 2011-09-06 Listed $45,000 MIBOR as Distributed by MLS Grid
• 2011-07-18 Listing Removed — MIBOR as Distributed by MLS Grid
• 2011-07-15 Sold (MLS) $9,000 MIBOR as Distributed by MLS Grid
• 2010-09-03 Listed $12,000 MIBOR as Distributed by MLS Grid
• 2006-11-29 Sold (MLS) $19,000 MIBOR as Distributed by MLS Grid
• 2006-08-16 Listed $24,900 MIBOR as Distributed by MLS Grid
• 2006-08-14 Listing Removed — MIBOR as Distributed by MLS Grid
• 2006-02-15 Listed $59,900 MIBOR as Distributed by MLS Grid

Property tax history

+7.4%/yr

Latest (2025): $1,671 · -9.9% YoY. Source: county tax records.