2646 E 18th St · Indianapolis city (balance), IN 46218

$95,555

2 bd · 1.0 ba · 745 sqft · SingleFamily public records · 87 Days on market

Built 1920 3,578 sqft lot $128/sqft · 30% above area Est $110k · 13% 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 +20.8/30.0
• ARV discount +13.5/15.0
• DSCR +6.6/10.0
• 1% rule +5.5/10.0
• 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 2646 E 18th St, this is a true move in ready residence. Many new updates include a new roof, furnace, water heater, full bathroom & kitchen remodel, interior doors, flooring, full paint inside & out, newer vinyl windows, electrical & plumbing updates & much more! The full-size basement is clean dry & perfect for storage or extra living space! This worry-free home presents a hard-to-find opportunity with an unbelievable low price!!

Key facts

• New furnace
• New water heater
• New interior doors

Tags

• NEW ROOF
• NEW FURNACE
• NEW WATER HEATER
• FULL BATHROOM REMODEL
• KITCHEN REMODEL
• NEW INTERIOR DOORS

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $96k.

Deal economics

• At list price, monthly cash flow is $130 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $96k).
• Recommended offer: $90k (6.0% below list) — sets the bar for market timing.
• Cap rate 7.9% 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 flat; 334 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 24d 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 32% 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 $660 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 87 days — a 6% lower offer ($90k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts; this cycle's ask has dropped $19k (17%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $89,821 (6.0% below list)

Questions for the listing agent

1. It's been on market 87 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 1920 — 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: 1.05% ✓
• Cap rate: 7.93%
• Cash-on-cash: 5.85%
• DSCR: 1.26
• GRM: 8.0

CMA / ARV

• ARV (median comp): $110,225
• List price: $95,555
• Delta: -13.31%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1824 N Parker Ave	0.18mi	2/1.0	720 (-3%)	5mo	$35,000	$49	82
1022 Jefferson Ave	0.74mi	2/1.0	780 (+5%)	3mo	$215,000	$276	56

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: -9.7%
• Equity multiple: 0.65×
• Total profit: $-9,323
• Equity at exit: $14,248

10-year hold

• IRR: -3.6%
• Equity multiple: 0.78×
• Total profit: $-5,840
• Equity at exit: $8,262

Cash invested: $26,755 (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: 8.0×

Monthly cashflow live

• Estimated rent: $1,001 high
• Mortgage (P&I): −$501
• Tax est. 1.5%: −$119 /mo · $1,433/yr
• Insurance: −$40
• HOA: −$0
• Vacancy / Maint / Mgmt: −$210
• Net cashflow: $130

Break-even live

Break-even rent $836

Max offer price $95,555

Occupancy floor 82%

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: $23,889
• Closing costs: $2,867
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2827 E 18th St Indianapolis, IN	2.0	1.0	726	$1,300	$1.79	24d	1	0.08mi
3058 Brookside Parkway North Dr Indianapolis, IN	1.0	1.0	700	$875	$1.25	12d	1	0.19mi
1931 N Oxford St Indianapolis, IN	1.0	1.0	616	$875	$1.42	4d	1	0.23mi
1315 N Rural St Indianapolis, IN	1.0	1.0	700	$1,000	$1.43	4d	1	0.40mi
1114 N Dearborn St Indianapolis, IN	1.0	1.0	646	$795	$1.23	44d	1	0.63mi
1358 N Gale St Indianapolis, IN	1.0	1.0	550	$890	$1.62	16d	1	0.67mi
1301 N Olney St Unit 1303 Indianapolis, IN	2.0	1.0	750	$1,100	$1.47	44d	1	0.70mi
1036 N Tuxedo St Indianapolis, IN	1.0	1.0	646	$750	$1.16	4d	1	0.74mi
3709 Brookside Parkway South Dr Indianapolis, IN	1.0	1.0	742	$825	$1.11	24d	1	0.74mi
1028 N Olney St Unit 1030 Indianapolis, IN	1.0	1.0	700	$800	$1.14	24d	1	0.80mi
1106 N Gale St Unit 1 Indianapolis, IN	2.0	1.0	750	$895	$1.19	44d	1	0.81mi
2449 Wheeler St Indianapolis, IN	1.0	1.0	600	$950	$1.58	24d	1	0.86mi
2372 Beckwith Dr Indianapolis, IN	4.0	1.0–1.5	779	$1,064	$1.36	2d	32	0.87mi
2821 Oxford Ln Indianapolis, IN	1.0	1.0	640	$825	$1.29	44d	1	0.88mi
3011 Oxford Ln Indianapolis, IN	1.0	1.0	640	$800	$1.25	44d	1	0.89mi
2422 Adams St Unit 2 Indianapolis, IN	1.0	1.0	700	$850	$1.21	44d	1	0.91mi
2530 N Temple Ave Indianapolis, IN	1.0	1.0	720	$750	$1.04	20d	1	0.92mi
1518 N Chester Ave Indianapolis, IN	2.0	1.0	672	$700	$1.04	8d	1	0.95mi
628 N Oxford St Indianapolis, IN	1.0	1.0	536	$775	$1.45	24d	1	0.96mi
1644 Doctor Andrew J Brown Ave Unit A&B Indianapolis, IN	1.0	1.0	550	$1,300	$2.36	44d	1	0.99mi
1538 N Grant Ave Indianapolis, IN	1.0	1.0	375	$700	$1.87	44d	1	1.00mi
2519 Baltimore Ave Unit B Indianapolis, IN	2.0	1.0	482	$775	$1.61	24d	1	1.01mi
1306 N Chester Ave Indianapolis, IN	1.0	1.0	600	$800	$1.33	20d	1	1.02mi
1531 N Grant Ave Indianapolis, IN	1.0	1.0	611	$875	$1.43	24d	1	1.03mi
1327 N Chester Ave Indianapolis, IN	1.0	1.0	600	$795	$1.32	14d	1	1.03mi
621 Tecumseh St Indianapolis, IN	2.0	1.0	726	$1,025	$1.41	44d	1	1.07mi
1512 N Gladstone Ave Unit 1510 1510 Indianapolis, IN	1.0	1.0	570	$830	$1.46	15d	1	1.08mi
1510 N Gladstone Ave Indianapolis, IN	1.0	1.0	570	$765	$1.34	44d	1	1.08mi
784 Woodruff Place Middle Dr Indianapolis, IN	1.0	1.0	750	$1,300	$1.73	44d	1	1.08mi
1450 N Gladstone Ave Indianapolis, IN	1.0	1.0	588	$799	$1.36	44d	1	1.09mi
679 Woodruff Place East Dr Indianapolis, IN	1.0	1.0	600	$895	$1.49	24d	1	1.09mi
2030 N Colorado Ave Indianapolis, IN	2.0	1.0	728	$1,150	$1.58	24d	1	1.15mi
2722 N Olney St Indianapolis, IN	2.0	1.0	650	$795	$1.22	44d	1	1.15mi
1432 N Colorado Ave Indianapolis, IN	1.0	1.0	584	$875	$1.50	24d	1	1.16mi
1515 Lewis St Indianapolis, IN	2.0	1.0–2.0	782	$2,049	$2.62	2d	11	1.21mi
821 N Bradley Ave Indianapolis, IN	1.0	1.0	663	$850	$1.28	4d	1	1.23mi
415 N Oxford St Indianapolis, IN	1.0	1.0	580	$650	$1.12	24d	1	1.23mi
927 N Chester Ave Indianapolis, IN	1.0	1.0	596	$750	$1.26	44d	1	1.25mi
2930 N Dearborn St Indianapolis, IN	1.0	1.0	536	$599	$1.12	24d	1	1.32mi
896 N Gladstone Ave Indianapolis, IN	1.0	1.0	580	$775	$1.34	44d	1	1.33mi

Listing history 39 events

1. 2026-06-15
   status $95,555 Pending 87 DOM
2. 2026-06-15
   days on market $95,555 Active 87 DOM
3. 2026-06-13
   days on market $95,555 Active 85 DOM
4. 2026-06-13
   days on market $95,555 Active 84 DOM
5. 2026-06-09
   days on market $95,555 Active 81 DOM
6. 2026-06-08
   days on market $95,555 Active 80 DOM
7. 2026-06-07
   remarks 475-char remark
8. 2026-06-07
   pricedays on market $95,555 Active 79 DOM
9. 2026-06-03
   days on market $99,999 Active 75 DOM
10. 2026-06-02
    days on market $99,999 Active 74 DOM
11. 2026-06-01
    days on market $99,999 Active 73 DOM
12. 2026-05-31
    days on market $99,999 Active 72 DOM
13. 2026-05-18
    price $99,999 465-char remark

    Show marketing remark (465 chars)

    Welcome to 2646 E 18th St, this is a true move in ready residence. Many new updates include a new roof, furnace, water heater, full bathroom & kitchen remodel, interior doors, flooring, full paint inside & out, newer vinyl windows, electrical & plumbing updates & much more! The full-size basement is clean dry & perfect for storage or extra living space! This worry-free home presents a hard-to-find opportunity with an unbelievable low price!!

14. 2026-05-12
    price $104,555 465-char remark

    Show marketing remark (465 chars)

    Welcome to 2646 E 18th St, this is a true move in ready residence. Many new updates include a new roof, furnace, water heater, full bathroom & kitchen remodel, interior doors, flooring, full paint inside & out, newer vinyl windows, electrical & plumbing updates & much more! The full-size basement is clean dry & perfect for storage or extra living space! This worry-free home presents a hard-to-find opportunity with an unbelievable low price!!

15. 2026-04-27
    price $109,500 465-char remark

    Show marketing remark (465 chars)

    Welcome to 2646 E 18th St, this is a true move in ready residence. Many new updates include a new roof, furnace, water heater, full bathroom & kitchen remodel, interior doors, flooring, full paint inside & out, newer vinyl windows, electrical & plumbing updates & much more! The full-size basement is clean dry & perfect for storage or extra living space! This worry-free home presents a hard-to-find opportunity with an unbelievable low price!!

16. 2026-04-23
    price $111,455 465-char remark

    Show marketing remark (465 chars)

    Welcome to 2646 E 18th St, this is a true move in ready residence. Many new updates include a new roof, furnace, water heater, full bathroom & kitchen remodel, interior doors, flooring, full paint inside & out, newer vinyl windows, electrical & plumbing updates & much more! The full-size basement is clean dry & perfect for storage or extra living space! This worry-free home presents a hard-to-find opportunity with an unbelievable low price!!

17. 2026-04-06
    price $111,955 465-char remark

    Show marketing remark (465 chars)

    Welcome to 2646 E 18th St, this is a true move in ready residence. Many new updates include a new roof, furnace, water heater, full bathroom & kitchen remodel, interior doors, flooring, full paint inside & out, newer vinyl windows, electrical & plumbing updates & much more! The full-size basement is clean dry & perfect for storage or extra living space! This worry-free home presents a hard-to-find opportunity with an unbelievable low price!!

18. 2026-03-19
    listed $114,555 Active 465-char remark

    Show marketing remark (465 chars)

    Welcome to 2646 E 18th St, this is a true move in ready residence. Many new updates include a new roof, furnace, water heater, full bathroom & kitchen remodel, interior doors, flooring, full paint inside & out, newer vinyl windows, electrical & plumbing updates & much more! The full-size basement is clean dry & perfect for storage or extra living space! This worry-free home presents a hard-to-find opportunity with an unbelievable low price!!

19. 2026-01-14
    historical
20. 2026-01-10
    status Active
21. 2026-01-09
    historical
22. 2025-12-30
    status Active
23. 2025-12-29
    historical
24. 2025-12-10
    price $60,000
25. 2025-12-01
    price $63,900
26. 2025-11-26
    price $64,500
27. 2025-10-31
    price $65,555
28. 2025-10-27
    price $67,500
29. 2025-10-27
    price $68,500
30. 2025-10-23
    price $69,500
31. 2025-10-16
    price $70,555
32. 2025-10-09
    price $72,900
33. 2025-10-09
    status Active
34. 2025-10-08
    historical
35. 2025-09-30
    price $73,900
36. 2025-09-26
    price $74,900
37. 2025-09-19
    price $75,555
38. 2025-09-08
    price $76,555
39. 2025-08-27
    listed $79,555 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

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 ≥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: $12,011
• − Mortgage interest: −$5,353
• − Property taxes: −$1,433
• − Insurance: −$478
• − Repairs & maintenance: −$961
• − Management: −$961
• − Depreciation: −$2,780
• Taxable income: $46
• Est. tax owed @ 24.0%: −$11
• After-tax cash flow: $1,554/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

+25.7% since first listed

27 events — show timeline

• 2026-05-18 Price Changed $99,999 MIBOR as Distributed by MLS Grid
• 2026-05-12 Price Changed $104,555 MIBOR as Distributed by MLS Grid
• 2026-04-27 Price Changed $109,500 MIBOR as Distributed by MLS Grid
• 2026-04-23 Price Changed $111,455 MIBOR as Distributed by MLS Grid
• 2026-04-06 Price Changed $111,955 MIBOR as Distributed by MLS Grid
• 2026-03-19 Listed $114,555 MIBOR as Distributed by MLS Grid
• 2026-01-14 Listing Removed — MIBOR as Distributed by MLS Grid
• 2026-01-10 Relisted — MIBOR as Distributed by MLS Grid
• 2026-01-09 Listing Removed — MIBOR as Distributed by MLS Grid
• 2025-12-30 Relisted — MIBOR as Distributed by MLS Grid
• 2025-12-29 Listing Removed — MIBOR as Distributed by MLS Grid
• 2025-12-10 Price Changed $60,000 MIBOR as Distributed by MLS Grid
• 2025-12-01 Price Changed $63,900 MIBOR as Distributed by MLS Grid
• 2025-11-26 Price Changed $64,500 MIBOR as Distributed by MLS Grid
• 2025-10-31 Price Changed $65,555 MIBOR as Distributed by MLS Grid
• 2025-10-27 Price Changed $67,500 MIBOR as Distributed by MLS Grid
• 2025-10-27 Price Changed $68,500 MIBOR as Distributed by MLS Grid
• 2025-10-23 Price Changed $69,500 MIBOR as Distributed by MLS Grid
• 2025-10-16 Price Changed $70,555 MIBOR as Distributed by MLS Grid
• 2025-10-09 Price Changed $72,900 MIBOR as Distributed by MLS Grid
• 2025-10-09 Relisted — MIBOR as Distributed by MLS Grid
• 2025-10-08 Listing Removed — MIBOR as Distributed by MLS Grid
• 2025-09-30 Price Changed $73,900 MIBOR as Distributed by MLS Grid
• 2025-09-26 Price Changed $74,900 MIBOR as Distributed by MLS Grid
• 2025-09-19 Price Changed $75,555 MIBOR as Distributed by MLS Grid
• 2025-09-08 Price Changed $76,555 MIBOR as Distributed by MLS Grid
• 2025-08-27 Listed $79,555 MIBOR as Distributed by MLS Grid

Property tax history

-6.0%/yr

Latest (2025): $111 · +2.2% YoY. Source: county tax records.