2631 Southeastern Ave · Indianapolis city (balance), IN 46201

$124,999

4 bd · 2.0 ba · 1,072 sqft · SingleFamily public records · 69 Days on market

Built 1880 3,964 sqft lot $117/sqft · 14% above area Est $136k · 8% 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 +24.8/30.0
• ARV discount +11.3/15.0
• DSCR +8.0/10.0
• 1% rule +7.1/10.0
• Rent growth +4.3/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.4/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

This property offers a great opportunity for a buyer to add their own finishing touch and call it home or for an investor to start or add to a portfolio. This property is perfectly located within walking distance of a grocery store, shops, and restaurants. Additionally, you can be in downtown Indianapolis within a few minutes in a car or to most of the immediate suburbs within 20-30 minutes. Do not hesitate to check this one out as it surely will not last long!

Key facts

• 3,964 sq ft lot
• Garage
• Built 1880

Tags

• WALKING DISTANCE GROCERY STORE
• WALKING DISTANCE SHOPS
• WALKING DISTANCE RESTAURANTS
• MINUTES TO IMMEDIATE SUBURBS

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $125k.

Deal economics

• At list price, monthly cash flow is $265 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $125k).
• Recommended offer: $117k (6.0% below list) — sets the bar for market timing.
• Cap rate 8.8% 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 (+7.3%/yr); 480 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 50% of comp listings sitting > 30 days — soft ceiling on asking rent; 1,906 units permitted in Marion County in 2024 (621 in 5+ unit buildings).
• This rent runs 37% of the median local income ($49k/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 $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.
• At projected returns (-3.0% appreciation + 7.3% rent growth), your $35k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 69 days — a 6% lower offer ($117k) is reasonable based on typical stale-listing flexibility.
• 10 sale attempts since 18y 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 $80k; list at $125k implies a 56% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1880 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $117,499 (6.0% below list)

Questions for the listing agent

1. It's been on market 69 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 1880 — 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: 1.21% ✓
• Cap rate: 8.84%
• Cash-on-cash: 9.09%
• DSCR: 1.40
• GRM: 6.9

CMA / ARV

• ARV (median comp): $136,491
• List price: $124,999
• Delta: -8.42%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3037 Newton Ave	0.40mi	3/1.0 (-1)	1,074 (+0%)	2mo	$156,000	$145	70
331 S Oakland Ave	0.31mi	3/1.0 (-1)	1,056 (-2%)	5mo	$135,000	$128	70
2134 Spann Ave	0.39mi	3/1.0 (-1)	1,085 (+1%)	1mo	$125,000	$115	70
3040 English Ave	0.29mi	3/1.0 (-1)	1,140 (+6%)	9mo	$80,000	$70	60
1828 E Maryland St	0.65mi	3/1.0 (-1)	1,100 (+3%)	4mo	$105,000	$95	53
1150 Vandeman St	0.75mi	4/1.5	1,104 (+3%)	9mo	$160,000	$145	51
3780 E Pleasant Run Parkway North Dr	0.72mi	3/1.0 (-1)	1,026 (-4%)	3mo	$136,000	$133	48
158 Harlan St	0.53mi	3/1.0 (-1)	1,172 (+9%)	3mo	$57,000	$49	48
3106 Newton Ave	0.47mi	3/2.0 (-1)	912 (-15%)	1mo	$95,500	$105	47
1641 Deloss St	0.71mi	3/1.5 (-1)	1,038 (-3%)	9mo	$205,000	$197	47
1740 Spann Ave	0.64mi	3/2.0 (-1)	1,178 (+10%)	7mo	$280,000	$238	43
315 S Dearborn St	0.43mi	3/1.0 (-1)	1,232 (+15%)	9mo	$159,000	$129	39

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 · 7.31% rent growth · sell at horizon

5-year hold

• IRR: 2.5%
• Equity multiple: 1.10×
• Total profit: $3,507
• Equity at exit: $18,638

10-year hold

• IRR: 16.0%
• Equity multiple: 2.59×
• Total profit: $55,634
• 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 46201

• Home prices YoY: -33.9%
• Rents YoY: 7.3%
• Active inventory: 480
• Price-to-rent: 6.9×

Monthly cashflow live

• Estimated rent: $1,508 high
• Mortgage (P&I): −$656
• Tax from tax record: −$218 /mo · $2,621/yr
• Insurance: −$52
• HOA: −$0
• Vacancy / Maint / Mgmt: −$317
• Net cashflow: $265

Break-even live

Break-even rent $1,172

Max offer price $124,999

Occupancy floor 77%

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
2631 Southeastern Ave Indianapolis, IN	3.0	2.0	1072	$1,195	$1.11	11d	1	0.02mi
350 S Oxford St Indianapolis, IN	3.0	1.0	826	$1,300	$1.57	43d	1	0.19mi
323 S Rural St Indianapolis, IN	3.0	1.5	1090	$1,050	$0.96	43d	1	0.20mi
241 S Temple Ave Indianapolis, IN	3.0	2.0	1200	$1,350	$1.12	43d	1	0.27mi
420 Hamilton Ave Unit A Indianapolis, IN	3.0	2.0	1350	$1,550	$1.15	43d	1	0.41mi
420 Hamilton Ave Unit B Indianapolis, IN	3.0	2.0	1350	$1,450	$1.07	10d	1	0.41mi
909 Saint Peter St Indianapolis, IN	3.0	2.0	1200	$1,800	$1.50	43d	1	0.42mi
253 S Gray St Indianapolis, IN	3.0	1.5	1176	$1,660	$1.41	2d	1	0.43mi
2218 Pleasant St Indianapolis, IN	3.0	2.0	1376	$2,499	$1.82	23d	1	0.46mi
151 Harlan St Unit A Indianapolis, IN	3.0	2.0	1250	$1,549	$1.24	23d	1	0.51mi
2015 E Maryland St Indianapolis, IN	3.0	2.0	1250	$1,495	$1.20	43d	1	0.55mi
1123 Churchman Ave Indianapolis, IN	3.0	1.5	1472	$1,360	$0.92	13d	1	0.66mi
39 N Tacoma Ave Indianapolis, IN	3.0	1.0	1233	$895	$0.73	43d	1	0.66mi
28 S Dearborn St Unit A Indianapolis, IN	3.0	1.0	1100	$1,400	$1.27	10d	1	0.67mi
1053 Villa Ave Indianapolis, IN	3.0	1.5	1281	$1,400	$1.09	43d	1	0.68mi
512 S State Ave Unit 512 State 120% AMI Indianapolis, IN	3.0	1.0	1200	$1,400	$1.17	23d	1	0.69mi
20 N Gray St Indianapolis, IN	3.0	2.0	1300	$1,800	$1.38	43d	1	0.73mi
37 S Tuxedo St Indianapolis, IN	3.0	1.0	950	$1,150	$1.21	43d	1	0.75mi
228 N Tacoma Ave Indianapolis, IN	3.0	1.0	1200	$1,100	$0.92	10d	1	0.75mi
12 N Randolph St Indianapolis, IN	3.0	1.0	1485	$1,650	$1.11	43d	1	0.78mi
44 Parkview Ave Indianapolis, IN	3.0	2.0	1250	$1,695	$1.36	20d	1	0.79mi
3702 Hoyt Ave Indianapolis, IN	3.0	2.0	960	$1,500	$1.56	13d	1	0.79mi
44 E Parkview Ave Unit A Indianapolis, IN	3.0	2.0	1296	$1,695	$1.31	23d	1	0.79mi
44 E Parkview Ave Unit B Indianapolis, IN	3.0	2.0	1297	$1,695	$1.31	43d	1	0.79mi
3706 Hoyt Ave Indianapolis, IN	3.0	1.0	960	$1,500	$1.56	13d	1	0.80mi
43 N Randolph St Indianapolis, IN	3.0	2.0	1250	$1,399	$1.12	43d	1	0.81mi
1512 English Ave Indianapolis, IN	3.0	2.0	1416	$1,650	$1.17	4d	1	0.82mi
253 N Gray St Indianapolis, IN	3.0	1.5	1176	$1,660	$1.41	7d	1	0.86mi
113 S Arsenal Ave Indianapolis, IN	3.0	2.0	1296	$1,800	$1.39	43d	1	0.88mi
145 McKim Ave Indianapolis, IN	3.0	2.5	1470	$2,195	$1.49	44d	1	0.91mi
1505 S Rural St Indianapolis, IN	3.0	1.0	1104	$1,500	$1.36	12d	1	0.91mi
418 Eastern Ave Indianapolis, IN	3.0	1.0	1008	$1,325	$1.31	23d	1	0.92mi
409 N Oakland Ave Unit 411 Indianapolis, IN	3.0	2.0	1300	$1,495	$1.15	43d	1	0.94mi
1527 Prospect St Indianapolis, IN	3.0	1.5	1150	$1,200	$1.04	23d	1	0.96mi
439 N Forest Ave Indianapolis, IN	3.0	2.0	1030	$1,200	$1.17	23d	1	0.96mi
1541 E Ohio St Indianapolis, IN	3.0	1.0	1400	$1,399	$1.00	43d	1	0.97mi
3518 Terrace Ave Indianapolis, IN	3.0	1.0	864	$1,300	$1.50	43d	1	0.98mi
1534 E Ohio St Indianapolis, IN	3.0	2.5	1204	$1,650	$1.37	16d	1	0.99mi
101 N Arsenal Ave Indianapolis, IN	3.0	2.0	1300	$1,749	$1.35	43d	1	1.00mi
416 N Hamilton Ave Unit 416-A Indianapolis, IN	3.0	2.0	1350	$1,500	$1.11	43d	1	1.00mi

Listing history 27 events

1. 2026-06-07
   days on market $124,999 Active 69 DOM
2. 2026-06-03
   days on market $124,999 Active 65 DOM
3. 2026-06-02
   days on market $124,999 Active 64 DOM
4. 2026-06-01
   days on market $124,999 Active 63 DOM
5. 2026-05-31
   days on market $124,999 Active 62 DOM
6. 2026-05-15
   status Active 465-char remark

   Show marketing remark (465 chars)

   This property offers a great opportunity for a buyer to add their own finishing touch and call it home or for an investor to start or add to a portfolio. This property is perfectly located within walking distance of a grocery store, shops, and restaurants. Additionally, you can be in downtown Indianapolis within a few minutes in a car or to most of the immediate suburbs within 20-30 minutes. Do not hesitate to check this one out as it surely will not last long!

7. 2026-05-12
   status Pending 465-char remark

   Show marketing remark (465 chars)

   This property offers a great opportunity for a buyer to add their own finishing touch and call it home or for an investor to start or add to a portfolio. This property is perfectly located within walking distance of a grocery store, shops, and restaurants. Additionally, you can be in downtown Indianapolis within a few minutes in a car or to most of the immediate suburbs within 20-30 minutes. Do not hesitate to check this one out as it surely will not last long!

8. 2026-04-17
   price $124,999 465-char remark

   Show marketing remark (465 chars)

   This property offers a great opportunity for a buyer to add their own finishing touch and call it home or for an investor to start or add to a portfolio. This property is perfectly located within walking distance of a grocery store, shops, and restaurants. Additionally, you can be in downtown Indianapolis within a few minutes in a car or to most of the immediate suburbs within 20-30 minutes. Do not hesitate to check this one out as it surely will not last long!

9. 2026-03-31
   status Active 465-char remark

   Show marketing remark (465 chars)

   This property offers a great opportunity for a buyer to add their own finishing touch and call it home or for an investor to start or add to a portfolio. This property is perfectly located within walking distance of a grocery store, shops, and restaurants. Additionally, you can be in downtown Indianapolis within a few minutes in a car or to most of the immediate suburbs within 20-30 minutes. Do not hesitate to check this one out as it surely will not last long!

10. 2026-03-20
    status Pending 465-char remark

    Show marketing remark (465 chars)

    This property offers a great opportunity for a buyer to add their own finishing touch and call it home or for an investor to start or add to a portfolio. This property is perfectly located within walking distance of a grocery store, shops, and restaurants. Additionally, you can be in downtown Indianapolis within a few minutes in a car or to most of the immediate suburbs within 20-30 minutes. Do not hesitate to check this one out as it surely will not last long!

11. 2026-03-16
    listed $129,999 Active 465-char remark

    Show marketing remark (465 chars)

    This property offers a great opportunity for a buyer to add their own finishing touch and call it home or for an investor to start or add to a portfolio. This property is perfectly located within walking distance of a grocery store, shops, and restaurants. Additionally, you can be in downtown Indianapolis within a few minutes in a car or to most of the immediate suburbs within 20-30 minutes. Do not hesitate to check this one out as it surely will not last long!

12. 2024-02-14
    historical $1,050
13. 2024-02-05
    price $1,050
14. 2024-01-18
    listed $1,100
15. 2022-11-18
    historical
16. 2022-05-23
    soldstatus $80,000 Closed 516-char remark

    Show marketing remark (516 chars)

    Perfect as an investment opportunity, personal home, or BOTH! This Twin Aire traditional American charmer is conveniently located near the new CDC development offering easy access to shopping, dining and entertainment. Also conveniently located just a short drive from the heart of Fountain Square and Downtown Indianapolis! The interior features a few recent updates, but it is also need of some cosmetic updates, repair of some termite damage, and other repairs, so the home is ready for your own personal touches.

17. 2022-05-09
    status Pending 516-char remark

    Show marketing remark (516 chars)

    Perfect as an investment opportunity, personal home, or BOTH! This Twin Aire traditional American charmer is conveniently located near the new CDC development offering easy access to shopping, dining and entertainment. Also conveniently located just a short drive from the heart of Fountain Square and Downtown Indianapolis! The interior features a few recent updates, but it is also need of some cosmetic updates, repair of some termite damage, and other repairs, so the home is ready for your own personal touches.

18. 2022-05-04
    listed $65,000 Active 516-char remark

    Show marketing remark (516 chars)

    Perfect as an investment opportunity, personal home, or BOTH! This Twin Aire traditional American charmer is conveniently located near the new CDC development offering easy access to shopping, dining and entertainment. Also conveniently located just a short drive from the heart of Fountain Square and Downtown Indianapolis! The interior features a few recent updates, but it is also need of some cosmetic updates, repair of some termite damage, and other repairs, so the home is ready for your own personal touches.

19. 2022-04-30
    historical
20. 2022-04-30
    status Active
21. 2022-04-22
    status Active
22. 2022-04-09
    status Pending
23. 2022-04-06
    status Active
24. 2022-03-21
    status Pending
25. 2022-03-13
    listed $96,000 Active
26. 2009-01-03
    historical
27. 2008-07-02
    listed $37,000

ⓘ 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: $2,621 · $218/mo
• Projected year-2 tax: $2,621 · $218/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 ≥101°F today · 19 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: $18,091
• − Mortgage interest: −$7,002
• − Property taxes: −$2,621
• − Insurance: −$625
• − Repairs & maintenance: −$1,447
• − Management: −$1,447
• − Depreciation: −$3,636
• Taxable income: $1,313
• Est. tax owed @ 24.0%: −$315
• After-tax cash flow: $2,865/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): 30,335
• Household income: $49,195
• Rent vs Own: 48.4% rent · 51.6% own
• Severe rent burden: 1906.0

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 0.63)
• Race & ethnicity: White 53% Hispanic / Latino 23% Black 18% Two or more races 9%
• Hispanic origin (detail): Mexican 14% Puerto Rican 2%
• Common ancestry: Slovak 2% Lithuanian 2% Italian 1%
• Foreign-born: 9% · Canada
• Languages at home: 81% English-only · Spanish 17%

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: ▼ -192.51%
• Current HPI: 375.0969
• Rent YoY: ▲ 7.31%
• 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

+237.8% since first listed

22 events — show timeline

• 2026-05-15 Relisted — MIBOR as Distributed by MLS Grid
• 2026-05-12 Pending — MIBOR as Distributed by MLS Grid
• 2026-04-17 Price Changed $124,999 MIBOR as Distributed by MLS Grid
• 2026-03-31 Relisted — MIBOR as Distributed by MLS Grid
• 2026-03-20 Pending — MIBOR as Distributed by MLS Grid
• 2026-03-16 Listed $129,999 MIBOR as Distributed by MLS Grid
• 2024-02-14 Rental Removed $1,050 MIBOR
• 2024-02-05 Price Changed $1,050 MIBOR
• 2024-01-18 Listed for Rent $1,100 MIBOR
• 2022-11-18 Rental Removed — RENT.
• 2022-05-23 Sold (MLS) $80,000 MIBOR as Distributed by MLS Grid
• 2022-05-09 Pending — MIBOR as Distributed by MLS Grid
• 2022-05-04 Listed $65,000 MIBOR as Distributed by MLS Grid
• 2022-04-30 Listing Removed — MIBOR as Distributed by MLS Grid
• 2022-04-30 Relisted — MIBOR as Distributed by MLS Grid
• 2022-04-22 Relisted — MIBOR as Distributed by MLS Grid
• 2022-04-09 Pending — MIBOR as Distributed by MLS Grid
• 2022-04-06 Relisted — MIBOR as Distributed by MLS Grid
• 2022-03-21 Pending — MIBOR as Distributed by MLS Grid
• 2022-03-13 Listed $96,000 MIBOR as Distributed by MLS Grid
• 2009-01-03 Listing Removed — MIBOR as Distributed by MLS Grid
• 2008-07-02 Listed $37,000 MIBOR as Distributed by MLS Grid

Property tax history

+14.3%/yr

Latest (2025): $2,621 · +14.2% YoY. Source: county tax records.