101 S Nebraska St · Marion, IN 46952

$65,000

3 bd · 2.0 ba · 1,922 sqft · MultiFamily public records · 98 Days on market

Built 1900 4,356 sqft lot $34/sqft · 9% below area Est $72k · 9% 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 +11.8/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.7/10.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks MLS

Investment Opportunity! This 2-story duplex offers 1,922 sq ft of income potential and sits on a corner lot with a spacious backyard and convenient street parking. The main level unit features 2 bedrooms, 2 bathrooms, two living areas, an updated kitchen, laundry room, and basement storage. The furnace is approximately 5 years old, providing added peace of mind. When this unit wsa rented it was rented for $725 a month. The upper-level unit includes 1 bedroom, 1 bathroom, a living room, and kitchen and is currently tenant-occupied at $600 per month, offering immediate rental income. Located close to downtown and SR 18, this property provides easy access to local amenities and commuting routes. Whether you're looking to expand your investment portfolio or live in one unit while renting the other, this duplex presents a solid opportunity with built-in income potential.

Key facts

• Spacious backyard
• Updated kitchen
• Basement storage

Tags

• CORNER LOT
• SPACIOUS BACKYARD
• UPDATED KITCHEN
• BASEMENT STORAGE
• EASY ACCESS TO LOCAL AMENITIES
• IMMEDIATE RENTAL INCOME

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $65k.

Deal economics

• At list price, monthly cash flow is $425 ($5k/yr) — positive. Per door: $213/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $65k).
• Recommended offer: $59k (9.0% below list) — sets the bar for market timing.
• Cap rate 22.6% vs local median 8.7% in Marion — 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 65/100 on livability (#337 in IN) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: schools F, amenities F, commute F.
• Marion Community Schools (town): math 18% / reading 24% proficiency, ranked #277 of 301 in IN (top 92%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 67% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 124 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 52 units permitted in Grant County in 2024 (8 in 5+ unit buildings).
• This rent runs 38% of the median local income ($53k/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 $449 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Grant County population projected at -18% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $18k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 98 days — a 9% lower offer ($59k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 12y ago; this cycle's ask has dropped $10k (13%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $37k; list at $65k implies a 76% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $460/mo; built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $59,150 (9.0% below list)

Questions for the listing agent

1. It's been on market 98 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
9. 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.
10. 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.
11. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 2.60% ✓
• Cap rate: 22.64%
• Cash-on-cash: 58.39%
• DSCR: 3.60
• GRM: 3.2

CMA / ARV

• ARV (median comp): $71,787
• List price: $65,000
• Delta: -9.45%
• Verdict: FAIR
• Comps: 19 within 1.0 mi

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
920 W 5th St	0.44mi	3/2.0	1,896 (-1%)	2mo	$44,800	$24	76
1304 W 2nd St	0.59mi	3/2.0	1,824 (-5%)	2mo	$72,500	$40	62
225 N E St	0.42mi	3/2.5	2,008 (+4%)	11mo	$90,008	$45	62
1308 W 2nd St	0.59mi	4/2.0 (+1)	1,982 (+3%)	2mo	$87,500	$44	60
1103 W 5th St #1103	0.53mi	4/2.0 (+1)	2,048 (+7%)	3mo	$65,000	$32	57
701 & 703 S Nebraska St	0.38mi	3/2.0	1,644 (-14%)	13mo	$115,000	$70	48
1413 W 4th St	0.72mi	4/2.0 (+1)	2,150 (+12%)	17mo	$130,000	$60	27

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 22.5%
• Equity multiple: 1.93×
• Total profit: $16,855
• Equity at exit: $9,692

10-year hold

• IRR: 30.7%
• Equity multiple: 3.79×
• Total profit: $50,796
• Equity at exit: $5,620

Cash invested: $18,200 (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 46952

• Home prices YoY: -29.9%
• Active inventory: 124
• Price-to-rent: 6.4×

Monthly cashflow live

• Estimated rent: $1,687 medium
• Mortgage (P&I): −$341
• Tax from tax record: −$79 /mo · $950/yr
• Insurance: −$27
• Flood insurance flood zone: −$460 /mo · $5,525/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$354
• Net cashflow: $425

Break-even live

Break-even rent $1,149

Max offer price $65,000

Occupancy floor 70%

Sensitivity live

Price	-10% $462	-5% $444	+0% $425	+5% $407	+10% $388
Rent	-10% $292	-5% $359	+0% $425	+5% $492	+10% $558
Rate	-1.0pp $458	-0.5pp $442	base $425	+0.5pp $408	+1.0pp $391

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$1,686
Total (2 units)			$1,687

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: $16,250
• Closing costs: $1,950
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
511 W Buckingham Dr Marion, IN	3.0	2.0	1942	$2,000	$1.03	44d	1	0.71mi

Listing history 23 events

1. 2026-06-19
   days on market $65,000 Active 98 DOM
2. 2026-06-18
   days on market $65,000 Active 97 DOM
3. 2026-06-17
   days on market $65,000 Active 96 DOM
4. 2026-06-16
   days on market $65,000 Active 95 DOM
5. 2026-06-15
   days on market $65,000 Active 94 DOM
6. 2026-06-14
   days on market $65,000 Active 92 DOM
7. 2026-06-12
   days on market $65,000 Active 91 DOM
8. 2026-06-09
   days on market $65,000 Active 88 DOM
9. 2026-06-08
   days on market $65,000 Active 87 DOM
10. 2026-06-07
    days on market $65,000 Active 86 DOM
11. 2026-06-02
    days on market $65,000 Active 81 DOM
12. 2026-06-01
    days on market $65,000 Active 80 DOM
13. 2026-05-31
    days on market $65,000 Active 79 DOM
14. 2026-05-30
    days on market $65,000 Active 78 DOM
15. 2026-04-09
    price $65,000 878-char remark

    Show marketing remark (878 chars)

    Investment Opportunity! This 2-story duplex offers 1,922 sq ft of income potential and sits on a corner lot with a spacious backyard and convenient street parking. The main level unit features 2 bedrooms, 2 bathrooms, two living areas, an updated kitchen, laundry room, and basement storage. The furnace is approximately 5 years old, providing added peace of mind. When this unit wsa rented it was rented for $725 a month. The upper-level unit includes 1 bedroom, 1 bathroom, a living room, and kitchen and is currently tenant-occupied at $600 per month, offering immediate rental income. Located close to downtown and SR 18, this property provides easy access to local amenities and commuting routes. Whether you're looking to expand your investment portfolio or live in one unit while renting the other, this duplex presents a solid opportunity with built-in income potential.

16. 2026-03-13
    listed $75,000 Active 878-char remark

    Show marketing remark (878 chars)

    Investment Opportunity! This 2-story duplex offers 1,922 sq ft of income potential and sits on a corner lot with a spacious backyard and convenient street parking. The main level unit features 2 bedrooms, 2 bathrooms, two living areas, an updated kitchen, laundry room, and basement storage. The furnace is approximately 5 years old, providing added peace of mind. When this unit wsa rented it was rented for $725 a month. The upper-level unit includes 1 bedroom, 1 bathroom, a living room, and kitchen and is currently tenant-occupied at $600 per month, offering immediate rental income. Located close to downtown and SR 18, this property provides easy access to local amenities and commuting routes. Whether you're looking to expand your investment portfolio or live in one unit while renting the other, this duplex presents a solid opportunity with built-in income potential.

17. 2021-11-24
    soldstatus $37,000
18. 2021-10-02
    listed $39,900
19. 2021-10-02
    listed $39,900
20. 2015-08-05
    soldstatus $8,500
21. 2015-06-22
    listed $11,500
22. 2015-02-25
    listed $12,500
23. 2014-11-17
    listed $19,900

ⓘ 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: $950 · $79/mo
• Projected year-2 tax: $950 · $79/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 8/10 Severe FEMA zone AE · 97% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥100°F today · 18 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $20,244
• − Mortgage interest: −$3,641
• − Property taxes: −$950
• − Insurance: −$5,850
• − Repairs & maintenance: −$1,620
• − Management: −$1,620
• − Depreciation: −$1,891
• Taxable income: $4,673
• Est. tax owed @ 24.0%: −$1,122
• After-tax cash flow: $3,981/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: Marion Community Schools
• NCES district ID: 1806390
• Math proficiency: 18% ▼ -9.00%
• Reading proficiency: 24% ▼ -6.00%
• Median HH income: $33,415
• Composite: 17.13/100
• National rank: #9115
• State rank: #277 of 301 in IN

Livability — Marion

• Score: 65/100
• State rank: #337
• US rank: #13006

Category grades

Amenities F Commute F Cost of living A+ Crime A+ Employment F Housing A+ Health & safety D- User ratings C+

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Marion, IN
• County: Grant County · 41,561 people
• City population: 41,561
• Metro: Marion, IN
• Population (ZIP): 18,189
• Household income: $52,880
• Rent vs Own: 31.5% rent · 68.5% own
• Severe rent burden: 662.0

Population outlook (Grant County) Hauer SSP2

• Today (2025): 64,394 people
• By 2030: 62,145 · -3.5%
• By 2040: 57,252 · -11.1%
• By 2050: 52,968 · -17.7%
• By 2075: 45,986 · -28.6%
• By 2100: 39,400 · -38.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (84%)
• Race & ethnicity: White 84% Two or more races 7% Hispanic / Latino 5% Black 4% Asian 1%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Italian 3% Romanian 1% Iranian 1%
• Foreign-born: 4% · Canada
• Languages at home: 96% English-only · Spanish 3%

Political lean MEDSL · Grant

• 2024 margin: Solid R (+41.8) · D 28.2% · R 70.0% · Other 1.9%
• 2008→2024 swing: -28.7pp toward R · 2008: -13.1pp · 2024: -41.8pp
• All cycles: 2024: R+41.8 2020: R+38.8 2016: R+39.5 2012: R+22.0 2008: R+13.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -76.69%
• Current HPI: 180.1174
• Rent YoY: —
• Metro: Marion, 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

+226.6% since first listed

9 events — show timeline

• 2026-04-09 Price Changed $65,000 MIBOR as Distributed by MLS Grid
• 2026-03-13 Listed $75,000 MIBOR as Distributed by MLS Grid
• 2021-11-24 Sold (MLS) $37,000 IRMLS
• 2021-10-02 Listed $39,900 IRMLS
• 2021-10-02 Listed $39,900 IRMLS
• 2015-08-05 Sold (MLS) $8,500 IRMLS
• 2015-06-22 Listed $11,500 IRMLS
• 2015-02-25 Listed $12,500 IRMLS
• 2014-11-17 Listed $19,900 IRMLS

Property tax history

-3.6%/yr

Latest (2025): $950 · -3.5% YoY. Source: county tax records.