None · Indianapolis city (balance), IN 46208

$139,000

2 bd · 4.0 ba · 1,248 sqft · MultiFamily · 66 Days on market

Built 1925 Fair condition 5,271 sqft lot Est $100k · 39% 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 +30.0/30.0
• DSCR +10.0/10.0
• 1% rule +8.5/10.0
• Rent growth +4.1/5.0
• Livability +2.5/5.0
• Condition / age +2.2/5.0
• 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: 2 units. confirmed

Listing remarks

* * A WORTHWHILE INVESTMENT * * An enduring structure awaits consideration at 1310 W 35th ST in INDIANAPOLIS, IN, USA. The substantial 1250 square feet of living area provides ample room for comfortable daily routines and personal expression. This generous interior expanse offers a canvas for creating distinct zones that cater to individual preferences and pursuits. Beyond the interior, an expansive 5271 square feet of lot area offers considerable outdoor potential, inviting the creation of serene gardens. This significant exterior space provides opportunities for various outdoor endeavors, enhancing the overall living experience. Constructed in 1925, this single-story duplex embodies a

Key facts

• Single story duplex
• Expansive lot area
• 5,271 sq ft lot

Tags

• SUBSTANTIAL LIVING AREA
• EXPANSIVE LOT AREA
• SINGLE STORY DUPLEX
• VERSATILE LIVING ARRANGEMENTS

Property features AI

Finance

• Other: Current use: residential / apartments (under 20 units)
• Financial info: Two-unit property; Gross income: $24,000; Expenses: $3,000; Owner pays insurance, lawn care, and taxes; Insurance expense listed as $1,000; Sample rent for one unit: $1,000 per month
• HOA & community: Details not provided

Exterior

• Parking: Covered and on-street parking spaces (2 car spaces); Carport with 2 spaces; Alley access
• Security: Smoke detector(s)
• Utilities: Municipal water and sewer; Separate gas meter; Municipal storm connection; Solid waste service available
• Home design: Duplex (residential income property); One story
• Construction: Wood siding and vinyl siding; Block foundation
• Exterior features: Shingle roof; City lot with curbs and sidewalks; Access to busline; Storm sewer; Mature trees; Frontage road access and street cuts

Interior

• Kitchen: Each unit includes range/oven and refrigerator
• Bedrooms: Two 1-bedroom units (unit-level info: one-level units)
• Flooring: Details not provided
• Bathrooms: Details not provided
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: Updated/remodeled condition; 9+ foot ceilings in basement; Smoke detectors
• Laundry & utility: Laundry connections for all units; Laundry located in basement

What this means for you Summary

Snapshot

• This is a 2 × 1-bed/2.0-bath units multifamily listed at $139k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $527 ($6k/yr) — positive. Per door: $263/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $139k).
• Recommended offer: $131k (6.0% below list) — sets the bar for market timing.
• Cap rate 10.8% 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 (+6.4%/yr); 283 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 25d 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 38% of the median local income ($60k/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 $961 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 + 6.4% rent growth), your $39k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 66 days — a 6% lower offer ($131k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1925 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $130,659 (6.0% below list)

Questions for the listing agent

1. It's been on market 66 days. Have you received any prior offers? Is the seller open to a 6% 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. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
5. Built in 1925 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. 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.
9. 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.
10. 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: 1.35% ✓
• Cap rate: 10.84%
• Cash-on-cash: 16.25%
• DSCR: 1.72
• GRM: 6.2

CMA / ARV

• ARV (on-the-fly): $99,840
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1310 W 35th St	0.00mi	1/2.0 (-1)	1,248 (0%)	0mo	$100,000	$80	87

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 · 6.43% rent growth · sell at horizon

5-year hold

• IRR: 11.1%
• Equity multiple: 1.46×
• Total profit: $17,789
• Equity at exit: $20,725

10-year hold

• IRR: 22.7%
• Equity multiple: 3.27×
• Total profit: $88,425
• Equity at exit: $12,018

Cash invested: $38,920 (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 46208

• Rents YoY: 6.4%
• Active inventory: 283
• Price-to-rent: 12.3×

Monthly cashflow live

• Estimated rent: $1,883 high
• Mortgage (P&I): −$729
• Tax est. 1.5%: −$174 /mo · $2,085/yr
• Insurance: −$58
• HOA: −$0
• Vacancy / Maint / Mgmt: −$395
• Net cashflow: $527

Break-even live

Break-even rent $1,216

Max offer price $139,000

Occupancy floor 67%

Sensitivity live

Price	-10% $623	-5% $575	+0% $527	+5% $479	+10% $431
Rent	-10% $378	-5% $453	+0% $527	+5% $601	+10% $676
Rate	-1.0pp $597	-0.5pp $562	base $527	+0.5pp $491	+1.0pp $454

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

Units	Beds	Baths	Est. rent
▸ 2× units	1	2	$1,882
Total (2 units)			$1,883

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: $34,750
• Closing costs: $4,170
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3440 N Harding St Indianapolis, IN	2.0	1.0	754	$1,275	$1.69	21d	1	0.11mi
3440 N Harding St Indianapolis, IN	2.0	1.0	754	$1,325	$1.76	44d	1	0.11mi
1138 36th St Unit 1 Indianapolis, IN	1.0	1.0	900	$885	$0.98	21d	1	0.22mi
1261 W 32nd St Indianapolis, IN	2.0	1.0	832	$975	$1.17	44d	1	0.29mi
1470 W 32nd St Indianapolis, IN	2.0	1.0	700	$1,000	$1.43	44d	1	0.31mi
1039 W 36th St Indianapolis, IN	2.0	1.0	864	$995	$1.15	44d	1	0.35mi
3217 Rader St Indianapolis, IN	3.0	1.0	1200	$1,299	$1.08	44d	1	0.48mi
1054 W 31st St Unit A Indianapolis, IN	2.0	1.0	1200	$1,500	$1.25	44d	1	0.51mi
926 W 32nd St Indianapolis, IN	3.0	2.0	1050	$1,295	$1.23	8d	1	0.57mi
1227 W 29th St Indianapolis, IN	3.0	1.5	1056	$1,250	$1.18	24d	1	0.63mi
1519 W 28th St Indianapolis, IN	2.0	1.0	816	$895	$1.10	44d	1	0.78mi
826 W 29th St Indianapolis, IN	3.0	2.0	1200	$1,595	$1.33	44d	1	0.86mi
648 W 30th St Indianapolis, IN	3.0	2.0	1300	$1,500	$1.15	24d	1	0.87mi
824 W 29th St Indianapolis, IN	3.0	2.0	1200	$1,595	$1.33	44d	1	0.89mi
1214 W 25th St Indianapolis, IN	1.0	1.0	800	$775	$0.97	24d	1	0.98mi
3017 Ethel Ave Indianapolis, IN	3.0	1.5	1079	$1,400	$1.30	24d	1	1.02mi
1244 Edgemont Ave Indianapolis, IN	2.0	1.0	1092	$1,275	$1.17	44d	1	1.04mi
538 W 29th St Indianapolis, IN	3.0	1.0	1132	$1,349	$1.19	24d	1	1.06mi
560 Udell St Indianapolis, IN	3.0	1.5	1176	$1,190	$1.01	24d	1	1.06mi
541 W 29th St Indianapolis, IN	1.0	1.0	740	$900	$1.22	21d	1	1.07mi
970 Edgemont Ave Indianapolis, IN	2.0	1.0	740	$845	$1.14	5d	1	1.12mi
3924 Byram Ave Indianapolis, IN	1.0	1.0	810	$1,099	$1.36	5d	1	1.14mi
516 W 28th St Indianapolis, IN	2.0	1.0	1005	$1,100	$1.09	24d	1	1.17mi
906 Burdsal Pkwy Indianapolis, IN	2.0	1.0	936	$1,295	$1.38	24d	1	1.22mi
908 Burdsal Pkwy Marion, IN	2.0	1.0	936	$1,300	$1.39	24d	1	1.22mi
608 Bernard Ave Indianapolis, IN	3.0	2.0	1056	$1,475	$1.40	4d	1	1.22mi
2248 N Harding St Indianapolis, IN	2.0	1.0	1100	$899	$0.82	24d	1	1.25mi
3031 Boulevard Pl Indianapolis, IN	3.0	1.5	1395	$1,450	$1.04	18d	1	1.26mi
3469 Graceland Ave Indianapolis, IN	2.0	1.0	1000	$1,200	$1.20	44d	1	1.26mi
1367 W Pruitt St Indianapolis, IN	3.0	1.0	1088	$1,450	$1.33	44d	1	1.28mi
1415 W Pruitt St Indianapolis, IN	3.0	1.0	1001	$1,249	$1.25	24d	1	1.30mi
3413 N Capitol Ave Indianapolis, IN	3.0	1.0	1176	$1,249	$1.06	11d	1	1.32mi
3415 N Capitol Ave Indianapolis, IN	3.0	1.0	1176	$1,249	$1.06	24d	1	1.32mi
732 Clarendon Pl Indianapolis, IN	2.0	1.0	800	$1,100	$1.38	44d	1	1.32mi
3622 N Capitol Ave Indianapolis, IN	3.0	1.0	1300	$1,300	$1.00	8d	1	1.33mi
143 W 35th St Indianapolis, IN	3.0	1.0	1235	$1,175	$0.95	8d	1	1.34mi
3502 N Kenwood Ave Indianapolis, IN	3.0	2.0	1094	$1,220	$1.12	44d	1	1.36mi
319 W 40th St Indianapolis, IN	3.0	1.0	1176	$1,295	$1.10	15d	1	1.38mi
2602 Mansion Dr Indianapolis, IN	2.0–3.0	2.0	1850	$1,379	$0.75	8d	6	1.41mi
3457 N Illinois St Indianapolis, IN	3.0	2.0	1230	$1,145	$0.93	24d	1	1.45mi

Listing history 2 events

1. 2026-06-07
   remarks 699-char remark
2. 2026-06-07
   listed $139,000 Pending 66 DOM

ⓘ 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: $22,596
• − Mortgage interest: −$7,786
• − Property taxes: −$2,085
• − Insurance: −$695
• − Repairs & maintenance: −$1,808
• − Management: −$1,808
• − Depreciation: −$4,044
• Taxable income: $4,371
• Est. tax owed @ 24.0%: −$1,049
• After-tax cash flow: $5,275/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.

Condition & rehab AI · 6 photos

Fair 45/100 Moderate rehab

This property requires moderate renovations, including painting, kitchen and bathroom updates, to improve its condition and value. The single-story structure and ample lot area offer potential for a good investment.

Repairs flagged

• Major Kitchen cabinets — No visible cabinets in the kitchen, suggesting they may be missing or in poor condition.
• Major Bathroom fixtures — No visible updates or upgrades in the bathroom, indicating potential need for renovation.
• Major Exterior paint — No visible siding or paint condition in the exterior, suggesting potential need for repainting.

Value-add opportunities

• Both Painting the exterior and interior — Fresh paint can significantly improve the curb appeal and overall condition of the property, enhancing both resale and rental value.
• Both Upgrading kitchen cabinets and appliances — Modernizing the kitchen with new cabinets and appliances can increase the property's appeal and functionality, making it more attractive to buyers and renters.
• Both Upgrading bathroom fixtures — Renovating the bathroom with updated fixtures can improve the property's functionality and aesthetic, making it more appealing to both buyers and renters.

Renovation cost estimate screening

Repair item	Severity	Est. cost
Kitchen cabinets · No visible cabinets in the kitchen, suggesting they may be missing or in poor condition.	Major	$15,000–50,000
Bathroom fixtures · No visible updates or upgrades in the bathroom, indicating potential need for renovation.	Major	$15,000–50,000
Exterior paint · No visible siding or paint condition in the exterior, suggesting potential need for repainting.	Major	$15,000–50,000
Total estimated repair cost · 3 items		$45,000–150,000

Value-add ROI direction

• Both Painting the exterior and interior — Fresh paint can significantly improve the curb appeal and overall condition of the property, enhancing both resale and rental value. ↑
• Both Upgrading kitchen cabinets and appliances — Modernizing the kitchen with new cabinets and appliances can increase the property's appeal and functionality, making it more attractive to buyers and renters. ↑
• Both Upgrading bathroom fixtures — Renovating the bathroom with updated fixtures can improve the property's functionality and aesthetic, making it more appealing to both buyers and renters. ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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): 22,379
• Household income: $60,062
• Rent vs Own: 44.1% rent · 55.9% own
• Severe rent burden: 978.0

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 0.62)
• Race & ethnicity: White 46% Black 40% Hispanic / Latino 8% Two or more races 6% Asian 2%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Romanian 2% Slovak 2% Italian 1%
• Foreign-born: 4% · Canada
• Languages at home: 93% English-only · Spanish 5% French/Haitian/Cajun 1% Other Indo-European 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: ▼ -324.63%
• Current HPI: 319.7725
• Rent YoY: ▲ 6.43%
• 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

2 events — show timeline

• 2026-06-05 Pending — MIBOR as Distributed by MLS Grid
• 2026-03-23 Listed $139,000 MIBOR as Distributed by MLS Grid