848 N Oxford St · Indianapolis city (balance), IN 46201

$289,900

3 bd · 16.0 ba · 1,287 sqft · MultiFamily public records · 35 Days on market

Built 1920 5,619 sqft lot $225/sqft · 262% above area Est $235k · 24% over

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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 +28.0/30.0
• DSCR +10.0/10.0
• 1% rule +8.0/10.0
• Rent growth +4.3/5.0
• 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

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 4 units. confirmed

Listing remarks MLS

Absolutely Charming and Ready For that Motivated individual to take on the project/investment that will keep on giving! Do not miss the chance to own your own income generator! This home is perfect for the individual that can see the potential in what this property has to offer. It does need quite a few cosmetic updates inside, one side does not have a working furnace, however, this exterior needs little work, roof is in good condition and the windows have been changed on most of the property. Again, this house is super cute and should be considered a fixer upper for cash buyers!

Key facts

• Fourplex
• Kitchen
• Cash flow

Tags

• FOURPLEX
• CASH FLOW
• MULTI-FAMILY HOME
• MAIN FLOOR UNITS
• TWO-STORY UNITS
• KITCHEN

Property features AI

Finance

• Other: Zoned D5; Lot under 1/4 acre (approx. 0.13 acre); Road access via concrete city street
• Financial info: Multi-unit property with 4 total units; Gross income and expenses not reported

Exterior

• Parking: Detached 2-car garage
• Utilities: No solid waste service listed
• Home design: Residential income property; Quadruplex (attached); Two-story sections; Faces east; Property listed as fixer
• Construction: Brick and wood siding construction
• Exterior features: Partial privacy fencing; Asphalt roof; Curb, sidewalk and street light presence; Small trees (under 20 ft)

Interior

• Kitchen: Eat-in kitchen (one 3-bedroom unit sized approx. 13x16); Kitchen in 1-bedroom unit sized approx. 10x12
• Bedrooms: Some units are 3-bedroom; Some units are 1-bedroom
• Bathrooms: Some units have 1 bathroom
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: Has basement; Eat-in kitchen (some units); Fireplace (some units)
• Laundry & utility: Laundry connections (in at least one unit)

What this means for you Summary

Snapshot

• This is a 2×1bd/1ba + 2×3bd/1ba units multifamily listed at $290k.

Deal economics

• At list price, monthly cash flow is $906 ($11k/yr) — positive. Per door: $227/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $290k).
• Recommended offer: $281k (3.0% below list) — sets the bar for market timing.
• Cap rate 10.0% 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 at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 1,906 units permitted in Marion County in 2024 (621 in 5+ unit buildings).
• At $3,765/mo this rent would consume 92% of the median local household income ($49k/yr) (locally 1906% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $9k 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 $81k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 35 days — a 3% lower offer ($281k) is reasonable based on typical stale-listing flexibility.
• 8 sale attempts since 3y 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 $180k; list at $290k implies a 61% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

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

Recommended offer $281,203 (3.0% below list)

Questions for the listing agent

1. It's been on market 35 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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.
7. 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.
8. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.30% ✓
• Cap rate: 10.04%
• Cash-on-cash: 13.40%
• DSCR: 1.60
• GRM: 6.4

CMA / ARV

• ARV (median comp): $234,653
• List price: $289,900
• Delta: 23.54%
• 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
1315 N Rural St	0.42mi	2/2.0 (-1)	1,392 (+8%)	5mo	$82,000	$59	42
224 N Tacoma Ave	0.63mi	2/2.0 (-1)	1,200 (-7%)	2mo	$140,000	$117	38
826 N Beville Ave	0.38mi	3/1.0	1,472 (+14%)	1mo	$236,000	$160	37
2522 E 16th St	0.65mi	2/2.0 (-1)	1,300 (+1%)	14mo	$184,000	$142	36
944 N Hamilton Ave	0.52mi	2/2.0 (-1)	1,400 (+9%)	8mo	$170,000	$121	35

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: 8.3%
• Equity multiple: 1.34×
• Total profit: $27,877
• Equity at exit: $43,225

10-year hold

• IRR: 21.0%
• Equity multiple: 3.16×
• Total profit: $175,407
• Equity at exit: $25,065

Cash invested: $81,172 (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: 34.6×

Monthly cashflow live

• Estimated rent: $3,765 medium
• Mortgage (P&I): −$1,520
• Tax from tax record: −$427 /mo · $5,124/yr
• Insurance: −$121
• HOA: −$0
• Vacancy / Maint / Mgmt: −$791
• Net cashflow: $906

Break-even live

Break-even rent $2,618

Max offer price $289,900

Occupancy floor 71%

4-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	1	1	$1,396
▸ 2× units	3	1	$2,368
Total (4 units)			$3,765

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: $72,475
• Closing costs: $8,697
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
849 N Rural St Unit 849 Indianapolis, IN	3.0	2.5	1300	$2,000	$1.54	43d	1	0.02mi
851 N Rural St Indianapolis, IN	3.0	2.5	1300	$1,700	$1.31	23d	1	0.03mi
852 N Rural St Indianapolis, IN	2.0	1.5	1528	$1,300	$0.85	23d	1	0.05mi
645 N Oxford St Indianapolis, IN	4.0	1.5	1344	$1,500	$1.12	23d	1	0.10mi
639 N Rural St Indianapolis, IN	3.0	1.0	1000	$1,675	$1.68	17d	1	0.12mi
818 N Oakland Ave Unit 46201 Indianapolis, IN	3.0	1.5	1332	$1,550	$1.16	43d	1	0.15mi
619 N Rural St Indianapolis, IN	3.0	2.0	1300	$1,600	$1.23	23d	1	0.16mi
849 N Oakland Ave Indianapolis, IN	4.0	3.0	1638	$2,350	$1.43	12d	1	0.17mi
960 Eastern Ave Indianapolis, IN	3.0	1.5	1616	$1,500	$0.93	43d	1	0.18mi
960 Eastern Ave Indianapolis, IN	3.0	1.5	1616	$1,500	$0.93	23d	1	0.18mi
3101 E 10th St #301 Indianapolis, IN	2.0	1.0	921	$1,195	$1.30	43d	1	0.22mi
3030 E 10th St Indianapolis, IN	2.0	1.0	950	$900	$0.95	21d	1	0.23mi
632 N Gray St Indianapolis, IN	3.0	1.0	960	$1,800	$1.88	43d	1	0.24mi
627 N Tacoma Ave Indianapolis, IN	3.0	1.0	1160	$1,350	$1.16	10d	1	0.24mi
625 N Tacoma Ave Indianapolis, IN	3.0	1.0	1160	$1,350	$1.16	10d	1	0.25mi
1036 N Parker Ave Indianapolis, IN	4.0	2.0	1342	$1,745	$1.30	4d	1	0.26mi
639 N Gray St Indianapolis, IN	3.0	1.5	1120	$1,220	$1.09	43d	1	0.26mi
1038 N Parker Ave Indianapolis, IN	4.0	2.0	1342	$1,745	$1.30	4d	1	0.26mi
637 N Gray St Indianapolis, IN	3.0	1.5	1120	$1,150	$1.03	44d	1	0.26mi
1112 N Rural St Unit 1110 Indianapolis, IN	2.0	1.5	1204	$1,150	$0.96	23d	1	0.27mi
515 N Oxford St Indianapolis, IN	2.0	1.5	1728	$1,050	$0.61	3d	1	0.28mi
1113 N Oxford St Indianapolis, IN	3.0	2.0	1100	$1,495	$1.36	7d	1	0.28mi
2814 E Michigan St Unit D Indianapolis, IN	2.0	1.5	949	$1,350	$1.42	43d	1	0.29mi
933 N Dearborn St Indianapolis, IN	3.0	1.5	1204	$1,500	$1.25	43d	1	0.29mi
2810 E Michigan St Unit C Indianapolis, IN	2.0	1.5	949	$1,350	$1.42	43d	1	0.29mi
613-615 N Jefferson Indianapolis, IN	3.0	1.0	1030	$1,600	$1.55	14d	1	0.31mi
840 N Lasalle St Indianapolis, IN	3.0	1.0	1215	$1,100	$0.91	23d	1	0.32mi
2903 E Michigan St Indianapolis, IN	3.0	2.0	1310	$1,650	$1.26	14d	1	0.34mi
909 N Lasalle St Indianapolis, IN	3.0	2.0	1717	$1,600	$0.93	44d	1	0.35mi
929 N Beville Ave Indianapolis, IN	3.0	1.0	1328	$1,395	$1.05	23d	1	0.35mi
826 N Beville Ave Indianapolis, IN	3.0	1.0	1472	$1,295	$0.88	4d	1	0.36mi
826 N Beville Ave Indianapolis, IN	3.0	1.0	1472	$1,295	$0.88	2d	1	0.36mi
510 N Dearborn St Indianapolis, IN	3.0	1.0	1008	$1,350	$1.34	43d	1	0.39mi
1214 N Oakland Ave Indianapolis, IN	3.0	2.0	1464	$1,350	$0.92	14d	1	0.39mi
1119 N Dearborn St Indianapolis, IN	3.0	1.5	1200	$1,249	$1.04	43d	1	0.39mi
1216 N Oakland Ave Indianapolis, IN	3.0	2.0	1464	$1,550	$1.06	14d	1	0.40mi
418 Eastern Ave Indianapolis, IN	3.0	1.0	1008	$1,325	$1.31	23d	1	0.40mi
635 Jefferson Ave Indianapolis, IN	3.0	1.5	1744	$1,700	$0.97	43d	1	0.41mi
953 N Tuxedo St Indianapolis, IN	3.0	1.0	1200	$950	$0.79	23d	1	0.44mi
439 N Forest Ave Indianapolis, IN	3.0	2.0	1030	$1,200	$1.17	23d	1	0.44mi

Listing history 25 events

1. 2026-06-17
   status $289,900 Pending 35 DOM
2. 2026-06-17
   days on market $289,900 Active 35 DOM
3. 2026-06-16
   days on market $289,900 Active 34 DOM
4. 2026-06-15
   days on market $289,900 Active 33 DOM
5. 2026-06-13
   days on market $289,900 Active 31 DOM
6. 2026-06-13
   days on market $289,900 Active 30 DOM
7. 2026-06-09
   days on market $289,900 Active 27 DOM
8. 2026-06-08
   days on market $289,900 Active 26 DOM
9. 2026-06-07
   statusdays on market $289,900 Active 25 DOM
10. 2026-04-27
    listed $289,900 Active 574-char remark
11. 2024-08-23
    soldstatus $180,000 Closed 589-char remark

    Show marketing remark (589 chars)

    Absolutely Charming and Ready For that Motivated individual to take on the project/investment that will keep on giving! Do not miss the chance to own your own income generator! This home is perfect for the individual that can see the potential in what this property has to offer. It does need quite a few cosmetic updates inside, one side does not have a working furnace, however, this exterior needs little work, roof is in good condition and the windows have been changed on most of the property. Again, this house is super cute and should be considered a fixer upper for cash buyers!

12. 2024-08-08
    status Pending 589-char remark

    Show marketing remark (589 chars)

    Absolutely Charming and Ready For that Motivated individual to take on the project/investment that will keep on giving! Do not miss the chance to own your own income generator! This home is perfect for the individual that can see the potential in what this property has to offer. It does need quite a few cosmetic updates inside, one side does not have a working furnace, however, this exterior needs little work, roof is in good condition and the windows have been changed on most of the property. Again, this house is super cute and should be considered a fixer upper for cash buyers!

13. 2024-07-24
    status Active 589-char remark

    Show marketing remark (589 chars)

    Absolutely Charming and Ready For that Motivated individual to take on the project/investment that will keep on giving! Do not miss the chance to own your own income generator! This home is perfect for the individual that can see the potential in what this property has to offer. It does need quite a few cosmetic updates inside, one side does not have a working furnace, however, this exterior needs little work, roof is in good condition and the windows have been changed on most of the property. Again, this house is super cute and should be considered a fixer upper for cash buyers!

14. 2024-07-08
    status Pending 589-char remark

    Show marketing remark (589 chars)

    Absolutely Charming and Ready For that Motivated individual to take on the project/investment that will keep on giving! Do not miss the chance to own your own income generator! This home is perfect for the individual that can see the potential in what this property has to offer. It does need quite a few cosmetic updates inside, one side does not have a working furnace, however, this exterior needs little work, roof is in good condition and the windows have been changed on most of the property. Again, this house is super cute and should be considered a fixer upper for cash buyers!

15. 2024-06-18
    listed $185,000 Active 589-char remark

    Show marketing remark (589 chars)

    Absolutely Charming and Ready For that Motivated individual to take on the project/investment that will keep on giving! Do not miss the chance to own your own income generator! This home is perfect for the individual that can see the potential in what this property has to offer. It does need quite a few cosmetic updates inside, one side does not have a working furnace, however, this exterior needs little work, roof is in good condition and the windows have been changed on most of the property. Again, this house is super cute and should be considered a fixer upper for cash buyers!

16. 2024-03-31
    historical
17. 2024-01-11
    status Active
18. 2023-12-25
    status Pending
19. 2023-11-21
    status Active
20. 2023-11-12
    status Pending
21. 2023-10-18
    listed $195,000 Active
22. 2023-09-25
    historical
23. 2023-08-14
    price $230,000
24. 2023-05-30
    price $244,500
25. 2023-03-05
    listed $249,500 Active

ⓘ 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: $5,124 · $427/mo
• Projected year-2 tax: $5,124 · $427/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 ≥102°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: $45,180
• − Mortgage interest: −$16,239
• − Property taxes: −$5,124
• − Insurance: −$1,450
• − Repairs & maintenance: −$3,614
• − Management: −$3,614
• − Depreciation: −$8,433
• Taxable income: $6,705
• Est. tax owed @ 24.0%: −$1,609
• After-tax cash flow: $9,266/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

+16.2% since first listed

19 events — show timeline

• 2026-06-17 Pending — MIBOR as Distributed by MLS Grid
• 2026-06-05 Relisted — MIBOR as Distributed by MLS Grid
• 2026-05-19 Pending — MIBOR as Distributed by MLS Grid
• 2026-04-27 Listed $289,900 MIBOR as Distributed by MLS Grid
• 2024-08-23 Sold (MLS) $180,000 MIBOR as Distributed by MLS Grid
• 2024-08-08 Pending — MIBOR as Distributed by MLS Grid
• 2024-07-24 Relisted — MIBOR as Distributed by MLS Grid
• 2024-07-08 Pending — MIBOR as Distributed by MLS Grid
• 2024-06-18 Listed $185,000 MIBOR as Distributed by MLS Grid
• 2024-03-31 Listing Removed — MIBOR as Distributed by MLS Grid
• 2024-01-11 Relisted — MIBOR as Distributed by MLS Grid
• 2023-12-25 Pending — MIBOR as Distributed by MLS Grid
• 2023-11-21 Relisted — MIBOR as Distributed by MLS Grid
• 2023-11-12 Pending — MIBOR as Distributed by MLS Grid
• 2023-10-18 Listed $195,000 MIBOR as Distributed by MLS Grid
• 2023-09-25 Listing Removed — MIBOR as Distributed by MLS Grid
• 2023-08-14 Price Changed $230,000 MIBOR as Distributed by MLS Grid
• 2023-05-30 Price Changed $244,500 MIBOR as Distributed by MLS Grid
• 2023-03-05 Listed $249,500 MIBOR as Distributed by MLS Grid

Property tax history

+20.0%/yr

Latest (2025): $5,124 · +140.4% YoY. Source: county tax records.