744 S Addison St · Indianapolis city (balance), IN 46221

$115,000

2 bd · 1.0 ba · 768 sqft · SingleFamily public records · 57 Days on market

Built 1930 5,619 sqft lot $150/sqft · 77% above area Est $98k · 18% over

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Why this score? — see what drove the D+ 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 +23.6/30.0
• DSCR +7.6/10.0
• 1% rule +6.3/10.0
• Rent growth +2.9/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.4/10.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

Investor opportunity! This 3-bedroom, 1-bath home is located in a well-established neighborhood and offers strong potential. Features include a fully fenced yard and a large detached structure that can serve as storage or workshop space, with the ability to convert back into a 2-car garage. Enjoy the enclosed front porch-perfect for relaxing on mild Indiana evenings. Conveniently located with easy access to I-70, making it attractive for future tenants or resale.

Key facts

• Easy access to i-70
• Fully fenced yard
• Enclosed front porch

Tags

• FULLY FENCED YARD
• LARGE DETACHED STRUCTURE
• ENCLOSED FRONT PORCH
• EASY ACCESS TO I-70

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $115k.

Deal economics

• At list price, monthly cash flow is $217 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $115k).
• Recommended offer: $112k (3.0% below list) — sets the bar for market timing.
• Cap rate 8.6% 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 D — 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; 19 comparable units currently listed for rent nearby; rentals at typical pace (median 20d 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 $795 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 57 days — a 3% lower offer ($112k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 17y 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.

Risks & watch-outs

• Watch-outs: built in 1930 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $111,550 (3.0% below list)

Questions for the listing agent

1. It's been on market 57 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 1930 — 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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 1.13% ✓
• Cap rate: 8.56%
• Cash-on-cash: 8.10%
• DSCR: 1.36
• GRM: 7.4

CMA / ARV

• ARV (median comp): $97,668
• List price: $115,000
• Delta: 17.75%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
841 S Addison St	0.12mi	2/1.0	720 (-6%)	0mo	$113,000	$157	84
563 S Harris Ave	0.20mi	2/1.0	768 (0%)	14mo	$65,000	$85	79
2110 W Mccarty St	0.37mi	2/1.0	768 (0%)	7mo	$61,000	$79	77
328 S Addison St	0.32mi	2/1.0	864 (+12%)	1mo	$73,400	$85	63
1623 Oliver Ave	0.74mi	2/1.0	744 (-3%)	11mo	$158,000	$212	51

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: -5.3%
• Equity multiple: 0.80×
• Total profit: $-6,330
• Equity at exit: $17,147

10-year hold

• IRR: 2.8%
• Equity multiple: 1.19×
• Total profit: $6,157
• Equity at exit: $9,943

Cash invested: $32,200 (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 46221

• Home prices YoY: -23.7%
• Rents YoY: 1.8%
• Active inventory: 43
• Price-to-rent: 7.4×

Monthly cashflow live

• Estimated rent: $1,303 high
• Mortgage (P&I): −$603
• Tax from tax record: −$161 /mo · $1,931/yr
• Insurance: −$48
• HOA: −$0
• Vacancy / Maint / Mgmt: −$274
• Net cashflow: $217

Break-even live

Break-even rent $1,028

Max offer price $115,000

Occupancy floor 78%

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: $28,750
• Closing costs: $3,450
• Reserves months: —
• Total cash needed: —

Rent comps 19 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
841 S Addison St Indianapolis, IN	2.0	1.0	750	$1,295	$1.73	43d	1	0.14mi
1925 Westview Dr Unit 100 Indianapolis, IN	1.0	1.0	600	$900	$1.50	22d	1	0.59mi
1925 Westview Dr Unit 212 Indianapolis, IN	1.0	1.0	600	$900	$1.50	7d	1	0.60mi
1925 Westview Dr Indianapolis, IN	1.0	1.0	600	$900	$1.50	14d	2	0.61mi
86 N Holmes Ave Indianapolis, IN	2.0	1.0	978	$1,050	$1.07	16d	1	0.75mi
1801 W Morris St Indianapolis, IN	3.0	1.5	1056	$1,795	$1.70	43d	1	0.76mi
1918 W Washington St Unit 12 Indianapolis, IN	1.0	1.0	600	$950	$1.58	43d	1	0.81mi
240 N Warman Ave Indianapolis, IN	2.0–3.0	1.0–2.0	1052	$1,150	$1.09	20d	5	0.86mi
264 N Holmes Ave Indianapolis, IN	2.0	1.0	1092	$1,200	$1.10	10d	1	0.88mi
1105 Blaine Ave Indianapolis, IN	1.0–2.0	1.0–2.5	1157	$1,795	$1.55	23d	1	0.89mi
1339 W Lee St Indianapolis, IN	2.0	1.5	960	$975	$1.02	3d	1	0.90mi
101 S Harding St Apt 307 Indianapolis, IN	2.0	2.0	970	$1,685	$1.74	3d	1	1.11mi
55 S Harding St #308 Indianapolis, IN	1.0	1.0	754	$1,200	$1.59	23d	1	1.12mi
1909 S Pershing Ave Indianapolis, IN	3.0	1.5	728	$1,750	$2.40	3d	1	1.14mi
411 N Centennial St Indianapolis, IN	2.0	1.0	750	$995	$1.33	7d	1	1.19mi
1911 Wilcox St Indianapolis, IN	2.0	1.0	896	$1,150	$1.28	43d	1	1.25mi
525 N Belmont Ave Indianapolis, IN	3.0	1.0	912	$1,225	$1.34	23d	1	1.33mi
460 N White River Parkway Dr W Indianapolis, IN	2.0	1.0	681	$1,725	$2.53	3d	14	1.42mi
771 Haugh St Indianapolis, IN	2.0	1.0	714	$1,250	$1.75	20d	1	1.48mi

Listing history 18 events

1. 2026-06-18
   days on market $115,000 Active 57 DOM
2. 2026-06-17
   days on market $115,000 Active 56 DOM
3. 2026-06-16
   days on market $115,000 Active 55 DOM
4. 2026-06-15
   days on market $115,000 Active 54 DOM
5. 2026-06-13
   days on market $115,000 Active 52 DOM
6. 2026-06-13
   days on market $115,000 Active 51 DOM
7. 2026-06-09
   days on market $115,000 Active 48 DOM
8. 2026-06-08
   days on market $115,000 Active 47 DOM
9. 2026-06-07
   days on market $115,000 Active 46 DOM
10. 2026-06-03
    days on market $115,000 Active 42 DOM
11. 2026-06-02
    days on market $115,000 Active 41 DOM
12. 2026-06-01
    days on market $115,000 Active 40 DOM
13. 2026-05-31
    days on market $115,000 Active 39 DOM
14. 2026-04-20
    listed $115,000 Active 470-char remark

    Show marketing remark (470 chars)

    Investor opportunity! This 3-bedroom, 1-bath home is located in a well-established neighborhood and offers strong potential. Features include a fully fenced yard and a large detached structure that can serve as storage or workshop space, with the ability to convert back into a 2-car garage. Enjoy the enclosed front porch-perfect for relaxing on mild Indiana evenings. Conveniently located with easy access to I-70, making it attractive for future tenants or resale.

15. 2010-10-15
    historical
16. 2010-04-14
    listed $29,500
17. 2010-02-04
    historical
18. 2009-11-03
    listed $30,000

ⓘ 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: $1,931 · $161/mo
• Projected year-2 tax: $1,931 · $161/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 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: $15,634
• − Mortgage interest: −$6,442
• − Property taxes: −$1,931
• − Insurance: −$575
• − Repairs & maintenance: −$1,251
• − Management: −$1,251
• − Depreciation: −$3,345
• Taxable income: $839
• Est. tax owed @ 24.0%: −$201
• After-tax cash flow: $2,407/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

+283.3% since first listed

5 events — show timeline

• 2026-04-20 Listed $115,000 MIBOR as Distributed by MLS Grid
• 2010-10-15 Listing Removed — MIBOR as Distributed by MLS Grid
• 2010-04-14 Listed $29,500 MIBOR as Distributed by MLS Grid
• 2010-02-04 Listing Removed — MIBOR as Distributed by MLS Grid
• 2009-11-03 Listed $30,000 MIBOR as Distributed by MLS Grid

Property tax history

+7.1%/yr

Latest (2025): $1,931 · +25.3% YoY. Source: county tax records.