18 E Caven St · Indianapolis city (balance), IN 46225

$195,000

3 bd · 1.5 ba · 1,344 sqft · SingleFamily public records · 6 Days on market

Built 2018 3,006 sqft lot Est $226k · 14% under

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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 +13.8/30.0
• ARV discount +13.6/15.0
• Rent growth +5.0/5.0
• DSCR +4.2/10.0
• 1% rule +3.4/10.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.4/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

BANK OWNED HOME, GOOD INVESTMENT AREA, NEEDS REPAIRS, DON'T MISS THIS DEAL, ALL OFFERS MUST BE SUBMITTED WITH PROOF OF FUNDS, CALL AGENT FOR DETAILS SUFFERED FIRE DAMAGE, MAKE OFFER!!!!!!!!!!!!!11

Key facts

• 3,006 sq ft lot
• Built 2018
• Listed 6 days

Tags

• GENEROUS SIZE LIVING ROOM
• CENTER-ISLAND KITCHEN
• FULL APPLIANCE PACKAGE
• TUCKED-AWAY LAUNDRY CLOSET
• FULLY FENCED PRIVATE BACKYARD
• CLASSIC VINYL EXTERIOR

Property features AI

Exterior

• Parking: On-street parking
• Utilities: Public water; Municipal sewer; Solid waste service
• Home design: Single-family residence; Two levels; Residential property
• Construction: Vinyl siding; Cellar foundation
• Exterior features: Full privacy fence

Interior

• Kitchen: Dishwasher; Microwave; Electric oven; Refrigerator; Garbage disposal; Electric water heater
• Bedrooms: Three bedrooms on the upper level
• Bathrooms: One full bathroom (upper level); One half bathroom (main level)
• Heating & cooling: Electric forced-air heating; Central air conditioning
• Interior features: Kitchen island; Formal living room
• Laundry & utility: Laundry closet

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $195k.

Deal economics

• At list price, monthly cash flow is $16 ($194/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $164k (15.8% below list).
• Recommended offer: $164k (15.8% below list) — sets the bar for 1% rule.
• Cap rate 6.4% 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.
• Zoned schools: Frederick Douglass School 19 (math 9% / reading 13%, grade F, #909 of 994 statewide, top 92%, 444 students, 81% FRL); H L Harshman Middle School (math 3% / reading 16%, grade F, #316 of 330 statewide, top 96%, 549 students, 84% FRL).
• Market conditions: Rents rising fast (+11.0%/yr); 131 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 26d on market — plan ~3-4 weeks tenant-placement turnaround); 1,906 units permitted in Marion County in 2024 (621 in 5+ unit buildings).
• This rent runs 36% of the median local income ($55k/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 $1k of loan paydown is wiped out by about $6k 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

• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 24y 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.

Recommended offer $164,189 (15.8% below list)

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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?
3. 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.
4. 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.
5. 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: 0.84% ✗
• Cap rate: 6.39%
• Cash-on-cash: 0.35%
• DSCR: 1.02
• GRM: 9.9

CMA / ARV

• ARV (on-the-fly): $225,792
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
35 Iowa St	0.04mi	3/2.5	1,400 (+4%)	2mo	$239,000	$171	86
337 E Minnesota St	0.40mi	3/2.0	1,371 (+2%)	8mo	$265,000	$193	70
225 E Minnesota St	0.28mi	2/1.0 (-1)	1,270 (-6%)	1mo	$185,000	$146	69
255 Iowa St	0.32mi	3/1.0	1,452 (+8%)	6mo	$105,000	$72	65
1250 Union St	0.51mi	3/1.5	1,440 (+7%)	1mo	$200,000	$139	63
2117 S Pennsylvania St	0.33mi	2/1.0 (-1)	1,229 (-9%)	4mo	$87,500	$71	60
14 E Regent St	0.33mi	3/2.5	1,496 (+11%)	2mo	$270,000	$180	60
2142 Webb St	0.44mi	3/2.0	1,496 (+11%)	3mo	$128,000	$86	56
1869 New St	0.74mi	3/2.0	1,280 (-5%)	1mo	$337,000	$263	55
413 E Caven St	0.43mi	2/2.0 (-1)	1,192 (-11%)	1mo	$200,000	$168	54
711 Terrace Ave	0.70mi	3/2.0	1,475 (+10%)	1mo	$323,500	$219	48
728 E Beecher St	0.66mi	3/2.0	1,154 (-14%)	7mo	$187,500	$162	37

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 · 8.0% rent growth · sell at horizon

5-year hold

• IRR: -10.5%
• Equity multiple: 0.60×
• Total profit: $-21,910
• Equity at exit: $29,075

10-year hold

• IRR: 4.5%
• Equity multiple: 1.40×
• Total profit: $21,672
• Equity at exit: $16,860

Cash invested: $54,600 (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 46225

• Home prices YoY: -8.2%
• Rents YoY: 11.0%
• Active inventory: 131
• Price-to-rent: 9.9×

Monthly cashflow live

• Estimated rent: $1,642 high
• Mortgage (P&I): −$1,023
• Tax from tax record: −$177 /mo · $2,125/yr
• Insurance: −$81
• HOA: −$0
• Vacancy / Maint / Mgmt: −$345
• Net cashflow: $16

Break-even live

Break-even rent $1,621

Max offer price $195,000

Occupancy floor 94%

Sensitivity live

Price	-10% $127	-5% $71	+0% $16	+5% $-39	+10% $-94
Rent	-10% $-114	-5% $-49	+0% $16	+5% $81	+10% $146
Rate	-1.0pp $114	-0.5pp $66	base $16	+0.5pp $-34	+1.0pp $-86

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: $48,750
• Closing costs: $5,850
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
11 Iowa St Indianapolis, IN	2.0	1.0	1176	$1,595	$1.36	0d	1	0.05mi
1819 Union St Unit 1817 Indianapolis, IN	3.0	2.0	1020	$1,199	$1.18	45d	1	0.06mi
1756 S Delaware St Unit 1754 Indianapolis, IN	3.0	2.0	1014	$1,300	$1.28	16d	1	0.14mi
1756 Delaware St Indianapolis, IN	3.0	2.0	1014	$1,300	$1.28	45d	1	0.14mi
1713 S Delaware St Indianapolis, IN	2.0	2.0	1785	$1,700	$0.95	45d	1	0.18mi
224 Iowa St Indianapolis, IN	3.0	1.0	1254	$1,450	$1.16	25d	1	0.26mi
243 Terrace Ave Indianapolis, IN	4.0	2.0	1669	$2,700	$1.62	19d	1	0.45mi
438 E Beecher St Indianapolis, IN	3.0	2.5	1500	$1,450	$0.97	25d	1	0.45mi
1409 S Alabama St Indianapolis, IN	2.0	1.0	949	$1,245	$1.31	45d	1	0.46mi
1407 S Alabama St Indianapolis, IN	2.0	1.0	949	$1,150	$1.21	45d	1	0.47mi
1436 S New Jersey St Unit A Indianapolis, IN	3.0	2.5	1300	$2,100	$1.62	25d	1	0.47mi
512 E Minnesota St Unit 203 Indianapolis, IN	2.0	1.0	903	$1,195	$1.32	25d	1	0.50mi
1439 South East St Indianapolis, IN	2.0	2.0	1114	$1,425	$1.28	22d	1	0.54mi
1439 South East St Indianapolis, IN	2.0	2.0	1114	$1,425	$1.28	0d	1	0.54mi
1437 S East St Indianapolis, IN	2.0	2.0	1114	$1,425	$1.28	45d	1	0.55mi
2283 Union St Indianapolis, IN	3.0	2.0	1824	$1,820	$1.00	25d	1	0.56mi
620 E Beecher St Indianapolis, IN	3.0	2.0	1072	$1,639	$1.53	22d	1	0.56mi
1830 Orleans St Indianapolis, IN	3.0	2.5	1586	$1,995	$1.26	45d	1	0.57mi
2314 Union St Indianapolis, IN	3.0	2.0	892	$1,295	$1.45	45d	1	0.59mi
1833 Orleans St Unit 1 Indianapolis, IN	3.0	1.0	1260	$1,350	$1.07	45d	1	0.60mi
1206 S Talbott St Indianapolis, IN	2.0	1.5	1200	$975	$0.81	0d	1	0.60mi
2109 Singleton St Indianapolis, IN	3.0	2.0	1340	$2,100	$1.57	9d	1	0.60mi
406 Orange St Indianapolis, IN	3.0	2.5	1820	$2,250	$1.24	45d	1	0.61mi
614 Parkway Ave Indianapolis, IN	3.0	2.0	1360	$1,850	$1.36	0d	1	0.68mi
728 Cottage Ave Indianapolis, IN	3.0	2.5	1831	$2,550	$1.39	25d	1	0.69mi
752 Cottage Ave Indianapolis, IN	3.0	2.0	1548	$1,750	$1.13	16d	1	0.73mi
726 Parkway Ave Indianapolis, IN	3.0	2.0	1150	$2,195	$1.91	19d	1	0.74mi
835 Weghorst St Unit 837 Indianapolis, IN	3.0	1.5	1500	$1,399	$0.93	25d	1	0.75mi
704 Sanders St Indianapolis, IN	2.0	1.0	1290	$1,275	$0.99	25d	1	0.77mi
944 E Minnesota St Indianapolis, IN	2.0	2.0	944	$1,299	$1.38	45d	1	0.81mi
518 Prospect St Unit 1357365P Indianapolis, IN	3.0	2.0	1614	$2,594	$1.61	9d	1	0.81mi
518 Prospect St Unit 1353834P Indianapolis, IN	3.0	2.0	1603	$2,442	$1.52	16d	1	0.81mi
1247 Wright St Indianapolis, IN	3.0	1.5	1809	$1,750	$0.97	45d	1	0.83mi
1247 Wright St Indianapolis, IN	3.0	1.5	1247	$1,750	$1.40	19d	1	0.83mi
915 S Meridian St Indianapolis, IN	2.0	1.0–2.0	829	$2,551	$3.08	0d	42	0.84mi
736 E Morris St Indianapolis, IN	2.0	1.5	1500	$1,195	$0.80	0d	1	0.86mi
736 E Morris St Indianapolis, IN	2.0	1.5	1500	$1,195	$0.80	6d	1	0.86mi
1703 Ringgold Ave Indianapolis, IN	3.0	2.0	1712	$1,700	$0.99	0d	1	0.86mi
1514 Ringgold Ave Indianapolis, IN	3.0	1.0	1064	$1,295	$1.22	45d	1	0.87mi
1861 Barth Ave Unit 1861 Indianapolis, IN	2.0	1.0	1300	$1,600	$1.23	25d	1	0.92mi

Listing history 6 events

1. 2026-06-02
   status $195,000 Pending 6 DOM
2. 2026-06-01
   days on market $195,000 Active 6 DOM
3. 2026-05-31
   days on market $195,000 Active 5 DOM
4. 2026-05-26
   listed $195,000 Active
5. 2002-02-27
   soldstatus 197-char remark

   Show marketing remark (197 chars)

   BANK OWNED HOME, GOOD INVESTMENT AREA, NEEDS REPAIRS, DON'T MISS THIS DEAL, ALL OFFERS MUST BE SUBMITTED WITH PROOF OF FUNDS, CALL AGENT FOR DETAILS SUFFERED FIRE DAMAGE, MAKE OFFER!!!!!!!!!!!!!11

6. 2002-01-18
   listed $14,900 197-char remark

   Show marketing remark (197 chars)

   BANK OWNED HOME, GOOD INVESTMENT AREA, NEEDS REPAIRS, DON'T MISS THIS DEAL, ALL OFFERS MUST BE SUBMITTED WITH PROOF OF FUNDS, CALL AGENT FOR DETAILS SUFFERED FIRE DAMAGE, MAKE OFFER!!!!!!!!!!!!!11

ⓘ 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: $2,125 · $177/mo
• Projected year-2 tax: $2,125 · $177/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 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $19,703
• − Mortgage interest: −$10,923
• − Property taxes: −$2,125
• − Insurance: −$975
• − Repairs & maintenance: −$1,576
• − Management: −$1,576
• − Depreciation: −$5,673
• Taxable loss: −$3,146
• Est. tax savings @ 24.0%: +$755
• After-tax cash flow: $949/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): 6,037
• Household income: $55,190
• Rent vs Own: 44.0% rent · 56.0% own
• Severe rent burden: 311.0

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 (68%)
• Race & ethnicity: White 68% Two or more races 12% Black 11% Hispanic / Latino 10% Asian 2%
• Hispanic origin (detail): Mexican 6%
• Common ancestry: Romanian 2% Italian 2% Slovak 1%
• Foreign-born: 9% · Canada
• Languages at home: 88% English-only · Spanish 10% German/W. Germanic 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: ▼ -36.19%
• Current HPI: 403.9271
• Rent YoY: ▲ 10.98%
• 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

+1208.7% since first listed

3 events — show timeline

• 2026-05-26 Listed $195,000 MIBOR as Distributed by MLS Grid
• 2002-02-27 Sold (MLS) — MIBOR as Distributed by MLS Grid
• 2002-01-18 Listed $14,900 MIBOR as Distributed by MLS Grid

Property tax history

-3.7%/yr

Latest (2025): $2,125 · -1.6% YoY. Source: county tax records.