3847 N Vinewood Ave · Indianapolis city (balance), IN 46254

$142,000

3 bd · 1.0 ba · 950 sqft · SingleFamily public records · 2 Days on market

Built 1962 8,102 sqft lot Est $169k · 16% 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 +15.8/30.0
• ARV discount +14.7/15.0
• DSCR +4.9/10.0
• 1% rule +4.7/10.0
• Rent growth +3.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.4/10.0
• Appreciation +0.0/10.0

Listing remarks

This ranch-style home offers a simple, comfortable layout with the kind of potential that's easy to appreciate. From the moment you arrive, you'll see the opportunity to make it your own and create a space that fits your needs. Whether you're just getting started or looking for a solid investment, this one is worth a closer look. Built in 1962, this single-level home offers 950 square feet of living space with aluminum siding and vinyl windows for low-maintenance living. Inside, you'll find 3 bedrooms and 1 bath, with a functional layout that makes the most of the space. While there's no garage, a dedicated parking pad provides convenient off-street parking, adding to the home's practicalit

Key facts

• 8,102 sq ft lot
• Built 1962
• Listed 2 days

Property features AI

Exterior

• Utilities: Public water; Municipal sewer connected; Solid waste service available
• Home design: Single-family residence; One story
• Construction: Aluminum and vinyl siding; Slab foundation
• Exterior features: Lot under 1/4 acre (approximately 0.19 acre)

Interior

• Kitchen: No appliances included
• Bedrooms: Three bedrooms on the main level (all bedrooms on main)
• Bathrooms: One full bathroom on the main level
• Heating & cooling: Forced air heating (natural gas); Central air conditioning
• Interior features: Woodwork stained/painted
• Laundry & utility: No laundry appliances listed

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $142k.

Deal economics

• At list price, monthly cash flow is $64 ($774/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 $138k (3.0% below list).
• Recommended offer: $138k (3.0% below list) — sets the bar for 1% rule.
• Cap rate 6.8% 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 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.
• Market conditions: Rents rising fast (+4.1%/yr); 15 active listings in the ZIP; 15 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).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $982 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.

Negotiation context

• Only 2 days on market — expect competitive offers; lowballing is unlikely to land.

Recommended offer $137,767 (3.0% below list)

Questions for the listing agent

1. Built in 1962 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
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: 0.97% ✗
• Cap rate: 6.84%
• Cash-on-cash: 1.95%
• DSCR: 1.09
• GRM: 8.6

CMA / ARV

• ARV (on-the-fly): $169,100
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3847 N Vinewood Ave	0.00mi	3/1.0	950 (0%)	1mo	$142,000	$149	99
6014 Ruskin Pl W	0.16mi	3/1.0	950 (0%)	5mo	$165,000	$174	88
3820 N Lawndale Ave	0.08mi	4/1.5 (+1)	925 (-3%)	1mo	$165,000	$178	84
3944 N Lawndale Ave	0.15mi	3/1.0	1,008 (+6%)	2mo	$70,000	$69	81
5807 Westhaven Dr	0.26mi	3/1.0	950 (0%)	11mo	$195,000	$205	79
6008 Penway Cir	0.27mi	3/1.0	925 (-3%)	8mo	$220,000	$238	76
3938 N Vinewood Ave	0.11mi	4/1.0 (+1)	988 (+4%)	9mo	$180,000	$182	76
6108 Penway St	0.30mi	3/1.0	936 (-2%)	10mo	$155,000	$166	75
5932 Dabny Ct	0.58mi	3/1.5	936 (-2%)	2mo	$214,900	$230	67
5919 W 41st Pl	0.37mi	3/1.0	864 (-9%)	2mo	$125,000	$145	66
3532 N Lawndale Ave	0.42mi	3/1.0	1,044 (+10%)	4mo	$210,000	$201	61
3544 Patton Dr	0.52mi	3/1.0	1,044 (+10%)	8mo	$175,000	$168	53

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 · 4.13% rent growth · sell at horizon

5-year hold

• IRR: -11.9%
• Equity multiple: 0.57×
• Total profit: $-17,274
• Equity at exit: $21,173

10-year hold

• IRR: -1.0%
• Equity multiple: 0.93×
• Total profit: $-2,913
• Equity at exit: $12,278

Cash invested: $39,760 (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 46254

• Home prices YoY: -33.6%
• Rents YoY: 4.1%
• Active inventory: 15
• Price-to-rent: 8.6×

Monthly cashflow live

• Estimated rent: $1,378 high
• Mortgage (P&I): −$745
• Tax from tax record: −$220 /mo · $2,641/yr
• Insurance: −$59
• HOA: −$0
• Vacancy / Maint / Mgmt: −$289
• Net cashflow: $64

Break-even live

Break-even rent $1,296

Max offer price $142,000

Occupancy floor 90%

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: $35,500
• Closing costs: $4,260
• Reserves months: —
• Total cash needed: —

Rent comps 15 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5801 Westhaven Dr Indianapolis, IN	4.0	1.0	1102	$1,300	$1.18	23d	1	0.29mi
5801 Westhaven Dr Indianapolis, IN	4.0	1.0	1102	$1,300	$1.18	43d	1	0.29mi
3636 Mission Dr Indianapolis, IN	2.0	1.5	1100	$1,225	$1.11	43d	1	0.42mi
6363 Commons Dr Indianapolis, IN	1.0–3.0	1.0–2.0	966	$1,440	$1.49	3d	13	0.61mi
6710 Hollow Run Pl Indianapolis, IN	1.0–3.0	1.0–2.0	995	$2,000	$2.01	7d	37	0.66mi
5505 Scarlet Dr Indianapolis, IN	3.0	1.0–1.5	883	$1,549	$1.75	2d	4	0.72mi
6474 Lupine Ter Indianapolis, IN	2.0	1.0	847	$950	$1.12	23d	1	0.73mi
6536 Lupine Ter Indianapolis, IN	2.0	1.0	906	$1,280	$1.41	23d	1	0.78mi
3269 Lupine Dr Indianapolis, IN	2.0	1.0	986	$995	$1.01	23d	1	0.84mi
3279 Lupine Dr Indianapolis, IN	2.0	1.0	827	$1,150	$1.39	43d	1	0.84mi
3281 Lupine Dr Indianapolis, IN	2.0	1.0	966	$1,300	$1.35	23d	1	0.85mi
6436 Lupine Dr Indianapolis, IN	2.0	1.0	966	$950	$0.98	23d	1	1.12mi
6458 Lupine Dr Indianapolis, IN	2.0	1.0	966	$950	$0.98	23d	1	1.13mi
3201 Watergate Rd Indianapolis, IN	3.0	1.0–2.0	826	$1,269	$1.54	3d	20	1.14mi
3245 Chrysler St Indianapolis, IN	3.0	1.0	945	$1,345	$1.42	4d	1	1.48mi

Listing history 2 events

1. 2026-05-01
   status Pending
2. 2026-04-29
   listed $142,000 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: $2,641 · $220/mo
• Projected year-2 tax: $2,641 · $220/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 · 19 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 4/10 Moderate 4 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $16,532
• − Mortgage interest: −$7,954
• − Property taxes: −$2,641
• − Insurance: −$710
• − Repairs & maintenance: −$1,323
• − Management: −$1,323
• − Depreciation: −$4,131
• Taxable loss: −$1,549
• Est. tax savings @ 24.0%: +$372
• After-tax cash flow: $1,145/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): 40,674
• Household income: $60,287
• Rent vs Own: 50.5% rent · 49.5% own
• Severe rent burden: 1660.0

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 0.61)
• Race & ethnicity: Black 56% White 20% Hispanic / Latino 18% Two or more races 11% Asian 2%
• Hispanic origin (detail): Mexican 8% Puerto Rican 2% Dominican 2%
• Common ancestry: Hispanic 3% Lithuanian 1% Italian 1%
• Foreign-born: 23% · Canada, United Kingdom, Mexico
• Languages at home: 75% English-only · Spanish 14% French/Haitian/Cajun 5% 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: ▼ -127.90%
• Current HPI: 252.8994
• Rent YoY: ▲ 4.13%
• 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

• 2026-05-01 Pending — MIBOR as Distributed by MLS Grid
• 2026-04-29 Listed $142,000 MIBOR as Distributed by MLS Grid

Property tax history

+10.1%/yr

Latest (2025): $2,641 · +13.4% YoY. Source: county tax records.