5240 E 34th St · Indianapolis city (balance), IN 46218

$94,500

2 bd · 1.0 ba · 864 sqft · SingleFamily public records · 59 Days on market

Built 1930 9,670 sqft lot $109/sqft · 19% below area Est $116k · 19% 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 +27.1/30.0
• ARV discount +15.0/15.0
• DSCR +9.4/10.0
• 1% rule +7.2/10.0
• 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

Welcome to 5240 East 34th Street in Indianapolis - a great opportunity for homeowners and investors alike. This property offers strong potential with a convenient location close to shopping, dining, schools, major roadways, and everything the east side of Indianapolis has to offer. Whether you are looking for a place to call home or an addition to your investment portfolio, this property is full of possibilities. Don't miss your chance to make it your own.

Key facts

• Close to schools
• Close to dining
• Convenient location

Tags

• CONVENIENT LOCATION
• CLOSE TO SHOPPING
• CLOSE TO DINING
• CLOSE TO SCHOOLS
• CLOSE TO MAJOR ROADWAYS

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $94k.

Deal economics

• At list price, monthly cash flow is $268 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $94k).
• Recommended offer: $92k (3.0% below list) — sets the bar for market timing.
• Cap rate 9.7% 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 B — 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 flat; 334 active listings in the ZIP; 35 comparable units currently listed for rent nearby; rentals at typical pace (median 20d 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).
• This rent runs 36% of the median local income ($38k/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 $653 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 59 days — a 3% lower offer ($92k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 18y ago; this cycle's ask has dropped $6k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $30k; list at $94k implies a 215% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

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

Recommended offer $91,665 (3.0% below list)

Questions for the listing agent

1. It's been on market 59 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. 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: 1.22% ✓
• Cap rate: 9.70%
• Cash-on-cash: 12.15%
• DSCR: 1.54
• GRM: 6.8

CMA / ARV

• ARV (median comp): $116,382
• List price: $94,500
• Delta: -18.80%
• 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
5415 E 34th St	0.19mi	2/1.0	908 (+5%)	2mo	$107,000	$118	81
3440 N Emerson Ave	0.20mi	2/1.0	832 (-4%)	6mo	$115,000	$138	79
3536 N Hawthorne Ln	0.21mi	3/2.0 (+1)	925 (+7%)	6mo	$149,900	$162	64
5765 E 35th St	0.58mi	3/1.0 (+1)	888 (+3%)	1mo	$146,000	$164	63
3614 N Whittier Pl	0.38mi	3/2.0 (+1)	912 (+6%)	3mo	$171,999	$189	61
3125 N Bancroft St	0.42mi	3/1.0 (+1)	936 (+8%)	3mo	$156,000	$167	59
3355 Wallace Ave	0.45mi	2/1.0	768 (-11%)	2mo	$59,500	$77	59
4715 Munter Ln	0.69mi	3/1.0 (+1)	864 (0%)	6mo	$46,000	$53	58
3505 N Emerson Ave	0.20mi	3/1.0 (+1)	972 (+12%)	10mo	$115,000	$118	57
5776 E 33rd St	0.67mi	3/1.0 (+1)	816 (-6%)	6mo	$83,000	$102	50
2937 Kristen Dr E	0.66mi	3/1.0 (+1)	936 (+8%)	2mo	$185,000	$198	49
3938 N Grand Ave	0.69mi	3/1.0 (+1)	993 (+15%)	9mo	$135,000	$136	31

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: -0.7%
• Equity multiple: 0.97×
• Total profit: $-727
• Equity at exit: $14,090

10-year hold

• IRR: 6.5%
• Equity multiple: 1.44×
• Total profit: $11,607
• Equity at exit: $8,171

Cash invested: $26,460 (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: 334
• Price-to-rent: 6.8×

Monthly cashflow live

• Estimated rent: $1,155 high
• Mortgage (P&I): −$496
• Tax from tax record: −$110 /mo · $1,318/yr
• Insurance: −$39
• HOA: −$0
• Vacancy / Maint / Mgmt: −$243
• Net cashflow: $268

Break-even live

Break-even rent $816

Max offer price $94,500

Occupancy floor 72%

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: $23,625
• Closing costs: $2,835
• Reserves months: —
• Total cash needed: —

Rent comps 35 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3516 N Hawthorne Ln Indianapolis, IN	3.0	1.0	925	$1,225	$1.32	4d	1	0.14mi
3301 Mardenna Ave Indianapolis, IN	3.0	1.0	925	$1,200	$1.30	43d	1	0.17mi
3319 N Hawthorne Ln Indianapolis, IN	3.0	1.0	1084	$1,100	$1.01	23d	1	0.18mi
3316 N Emerson Ave Indianapolis, IN	3.0	1.0	912	$1,100	$1.21	23d	1	0.25mi
3636 N Whittier Pl Indianapolis, IN	3.0	1.0	912	$995	$1.09	7d	1	0.36mi
3461 N Dequincy St Indianapolis, IN	1.0	1.0	900	$720	$0.80	43d	1	0.40mi
3332 Wallace Ave Indianapolis, IN	3.0	1.0	936	$1,600	$1.71	23d	1	0.51mi
4726 E 34th St Indianapolis, IN	1.0	1.0	643	$800	$1.24	23d	1	0.53mi
3815 N Grand Ave Unit 3815 Indianapolis, IN	2.0	1.0	965	$1,250	$1.30	4d	1	0.53mi
3718 N Audubon Rd Indianapolis, IN	3.0	1.0	875	$1,300	$1.49	23d	1	0.61mi
3315 N Euclid Ave Indianapolis, IN	2.0	1.0	780	$1,300	$1.67	14d	1	0.73mi
2950 N Dequincy St Indianapolis, IN	3.0	1.0	888	$1,375	$1.55	13d	1	0.79mi
3836 Priscilla Ave Indianapolis, IN	3.0	1.5	1040	$1,275	$1.23	1d	1	0.81mi
4615 E 30th St Indianapolis, IN	2.0	1.0	660	$1,100	$1.67	23d	1	0.85mi
3142 N Euclid Ave Indianapolis, IN	3.0	1.0	1050	$1,050	$1.00	43d	1	0.85mi
2932 Arthington Blvd Indianapolis, IN	3.0	1.0	900	$1,350	$1.50	23d	1	0.88mi
5602 Glencoe St Indianapolis, IN	3.0	1.0	1000	$1,749	$1.75	17d	1	0.92mi
3149 N Gladstone Ave Indianapolis, IN	3.0	1.5	1036	$1,350	$1.30	7d	1	0.95mi
2864 Forest Manor Ave Indianapolis, IN	3.0	1.0	1018	$1,500	$1.47	23d	1	1.20mi
3920 E 30th St Indianapolis, IN	3.0	1.0	1071	$1,350	$1.26	4d	1	1.21mi
3920 E 30th St Indianapolis, IN	3.0	1.0	1071	$1,350	$1.26	7d	1	1.21mi
3725 N Sherman Dr #7 Indianapolis, IN	2.0	1.0	729	$845	$1.16	3d	1	1.24mi
2862 N Chester Ave Indianapolis, IN	3.0	2.0	1076	$1,520	$1.41	43d	1	1.27mi
3383 Station St Indianapolis, IN	3.0	1.0	744	$1,250	$1.68	23d	1	1.28mi
2404 N Lesley Ave Indianapolis, IN	2.0	1.0	763	$850	$1.11	43d	1	1.31mi
2308 N Ritter Ave Apt 24 Indianapolis, IN	2.0	1.0	725	$825	$1.14	20d	1	1.32mi
2312 N Ritter Ave Apt 31 Indianapolis, IN	2.0	1.0	725	$825	$1.14	21d	1	1.33mi
2302 N Ritter Ave Indianapolis, IN	2.0	1.0	725	$788	$1.09	7d	2	1.33mi
2304 N Ritter Ave Apt 9 Indianapolis, IN	2.0	1.0	725	$799	$1.10	20d	1	1.34mi
3421 N Olney St Indianapolis, IN	2.0	1.0	720	$1,195	$1.66	16d	1	1.43mi
2194 N Riley Ave Indianapolis, IN	3.0	1.0	1100	$1,749	$1.59	43d	1	1.43mi
2419 N Bolton Ave Indianapolis, IN	2.0	1.0	768	$950	$1.24	7d	1	1.43mi
3615 Sherman Forest Dr Indianapolis, IN	4.0	1.0–2.5	1057	$1,288	$1.22	4d	1	1.45mi
5923 E 24th St Indianapolis, IN	2.0	1.0	816	$950	$1.16	17d	1	1.46mi
3522 N Olney St Indianapolis, IN	3.0	1.0	768	$1,300	$1.69	43d	1	1.46mi

Listing history 27 events

1. 2026-06-18
   days on market $94,500 Active 59 DOM
2. 2026-06-17
   days on market $94,500 Active 58 DOM
3. 2026-06-16
   days on market $94,500 Active 57 DOM
4. 2026-06-15
   days on market $94,500 Active 56 DOM
5. 2026-06-13
   days on market $94,500 Active 54 DOM
6. 2026-06-13
   days on market $94,500 Active 53 DOM
7. 2026-06-09
   days on market $94,500 Active 50 DOM
8. 2026-06-08
   days on market $94,500 Active 49 DOM
9. 2026-06-07
   days on market $94,500 Active 48 DOM
10. 2026-06-03
    days on market $94,500 Active 44 DOM
11. 2026-06-02
    days on market $94,500 Active 43 DOM
12. 2026-06-01
    days on market $94,500 Active 42 DOM
13. 2026-05-31
    days on market $94,500 Active 41 DOM
14. 2026-04-20
    listed $101,000 Active 460-char remark

    Show marketing remark (460 chars)

    Welcome to 5240 East 34th Street in Indianapolis - a great opportunity for homeowners and investors alike. This property offers strong potential with a convenient location close to shopping, dining, schools, major roadways, and everything the east side of Indianapolis has to offer. Whether you are looking for a place to call home or an addition to your investment portfolio, this property is full of possibilities. Don't miss your chance to make it your own.

15. 2022-12-06
    historical
16. 2019-11-26
    soldstatus $30,000 Sold 213-char remark

    Show marketing remark (213 chars)

    This 2 bedroom bungalow has 2 large family rooms, galley kitchen, and separate utility room that houses washer/dryer hookups. Home previously rented for $600/mo. And has convenient access to public transportation.

17. 2019-11-14
    status Pending 213-char remark

    Show marketing remark (213 chars)

    This 2 bedroom bungalow has 2 large family rooms, galley kitchen, and separate utility room that houses washer/dryer hookups. Home previously rented for $600/mo. And has convenient access to public transportation.

18. 2019-10-07
    price $40,000 213-char remark

    Show marketing remark (213 chars)

    This 2 bedroom bungalow has 2 large family rooms, galley kitchen, and separate utility room that houses washer/dryer hookups. Home previously rented for $600/mo. And has convenient access to public transportation.

19. 2019-09-12
    listed $45,000 Active 213-char remark

    Show marketing remark (213 chars)

    This 2 bedroom bungalow has 2 large family rooms, galley kitchen, and separate utility room that houses washer/dryer hookups. Home previously rented for $600/mo. And has convenient access to public transportation.

20. 2018-01-27
    historical
21. 2017-08-04
    listed $49,900 Active
22. 2016-08-19
    historical
23. 2016-04-15
    price $37,900
24. 2016-01-29
    price $39,000
25. 2015-11-30
    listed $41,000 Active
26. 2009-01-16
    historical
27. 2008-01-15
    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: $1,318 · $110/mo
• Projected year-2 tax: $1,318 · $110/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 ≥101°F today · 17 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: $13,865
• − Mortgage interest: −$5,293
• − Property taxes: −$1,318
• − Insurance: −$472
• − Repairs & maintenance: −$1,109
• − Management: −$1,109
• − Depreciation: −$2,749
• Taxable income: $1,813
• Est. tax owed @ 24.0%: −$435
• After-tax cash flow: $2,780/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

+407.5% since first listed

14 events — show timeline

• 2026-04-20 Listed $101,000 MIBOR as Distributed by MLS Grid
• 2022-12-06 Rental Removed — RENT.
• 2019-11-26 Sold (MLS) $30,000 MIBOR as Distributed by MLS Grid
• 2019-11-14 Pending — MIBOR as Distributed by MLS Grid
• 2019-10-07 Price Changed $40,000 MIBOR as Distributed by MLS Grid
• 2019-09-12 Listed $45,000 MIBOR as Distributed by MLS Grid
• 2018-01-27 Listing Removed — MIBOR as Distributed by MLS Grid
• 2017-08-04 Listed $49,900 MIBOR as Distributed by MLS Grid
• 2016-08-19 Listing Removed — MIBOR as Distributed by MLS Grid
• 2016-04-15 Price Changed $37,900 MIBOR as Distributed by MLS Grid
• 2016-01-29 Price Changed $39,000 MIBOR as Distributed by MLS Grid
• 2015-11-30 Listed $41,000 MIBOR as Distributed by MLS Grid
• 2009-01-16 Listing Removed — MIBOR as Distributed by MLS Grid
• 2008-01-15 Listed $19,900 MIBOR as Distributed by MLS Grid

Property tax history

+0.8%/yr

Latest (2025): $1,318 · +22.2% YoY. Source: county tax records.