3342 N Chester Ave · Indianapolis city (balance), IN 46218

$74,900

2 bd · 1.0 ba · 798 sqft · SingleFamily public records · 14 Days on market

Built 1952 6,708 sqft lot $94/sqft · 16% above area Est $129k · 42% 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 +30.0/30.0
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• 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

Great starter home for a home buyer wanting to put in some sweat equity or an investor looking for another "flip" project or a solid rental. Located on the near east side close to downtown and tons of amenities. Home features "good bones" with a solid foundation, large covered front porch and full sized basement. Home will need some renovations to restore it to it's former glory.

Key facts

• Solid foundation
• Full sized basement
• 6,708 sq ft lot

Tags

• LARGE COVERED FRONT PORCH
• FULL SIZED BASEMENT
• SOLID FOUNDATION

Property features AI

Exterior

• Utilities: Public water; Municipal sewer connected; Solid waste service available
• Home design: Single-family residence; One level
• Construction: Wood siding exterior; Block foundation
• Exterior features: Lot under 1/4 acre (approximately 0.15 acre)

Interior

• Kitchen: Eat-in kitchen
• Bedrooms: 2 bedrooms on the main level
• Bathrooms: 1 full bathroom (main level)
• Heating & cooling: Forced air heating; No central cooling listed
• Interior features: Eat-in kitchen; Painted woodwork; Finished basement area (partial)
• Laundry & utility: No appliances listed

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $75k.

Deal economics

• At list price, monthly cash flow is $287 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $75k).
• Cap rate 10.9% 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 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; 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 37% 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 $518 of loan paydown is wiped out by about $2k 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 + 0.8% rent growth), your $21k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• Only 14 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: property tax is 3.4% of price; built in 1952 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $74,900

Questions for the listing agent

1. Built in 1952 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
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: 1.56% ✓
• Cap rate: 10.90%
• Cash-on-cash: 16.45%
• DSCR: 1.73
• GRM: 5.3

CMA / ARV

• ARV (median comp): $128,940
• List price: $74,900
• Delta: -41.91%
• 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
3109 Forest Manor Ave	0.30mi	2/1.0	750 (-6%)	8mo	$115,000	$153	69
2907 Forest Manor Ave	0.55mi	2/1.0	768 (-4%)	1mo	$73,000	$95	68
2919 N Denny St	0.52mi	2/1.0	816 (+2%)	6mo	$52,500	$64	66
3355 Wallace Ave	0.62mi	2/1.0	768 (-4%)	2mo	$59,500	$77	63
3814 E 31st St	0.35mi	2/1.0	899 (+13%)	1mo	$108,500	$121	62
3015 Adams St	0.62mi	2/1.0	819 (+3%)	9mo	$155,000	$189	59
3114 Adams St	0.57mi	2/1.0	725 (-9%)	3mo	$63,000	$87	56
3219 N Colorado Ave	0.31mi	3/1.0 (+1)	912 (+14%)	4mo	$139,900	$153	53
3640 N Lasalle St	0.67mi	2/1.0	720 (-10%)	1mo	$139,500	$194	52
4715 Munter Ln	0.63mi	3/1.0 (+1)	864 (+8%)	6mo	$46,000	$53	47
2956 Wallace Ave	0.69mi	3/1.0 (+1)	888 (+11%)	2mo	$143,000	$161	42
2949 Wallace Ave	0.71mi	3/1.0 (+1)	888 (+11%)	4mo	$110,000	$124	40

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: 4.7%
• Equity multiple: 1.18×
• Total profit: $3,741
• Equity at exit: $11,168

10-year hold

• IRR: 11.8%
• Equity multiple: 1.82×
• Total profit: $17,299
• Equity at exit: $6,476

Cash invested: $20,972 (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: 5.3×

Monthly cashflow live

• Estimated rent: $1,169 high
• Mortgage (P&I): −$393
• Tax from tax record: −$212 /mo · $2,548/yr
• Insurance: −$31
• HOA: −$0
• Vacancy / Maint / Mgmt: −$246
• Net cashflow: $287

Break-even live

Break-even rent $805

Max offer price $74,900

Occupancy floor 70%

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: $18,725
• Closing costs: $2,247
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3383 Station St Indianapolis, IN	3.0	1.0	744	$1,250	$1.68	23d	1	0.22mi
3149 N Gladstone Ave Indianapolis, IN	3.0	1.5	1036	$1,350	$1.30	7d	1	0.30mi
3315 N Euclid Ave Indianapolis, IN	2.0	1.0	780	$1,300	$1.67	14d	1	0.35mi
3142 N Euclid Ave Indianapolis, IN	3.0	1.0	1050	$1,050	$1.00	43d	1	0.36mi
3421 N Olney St Indianapolis, IN	2.0	1.0	720	$1,195	$1.66	16d	1	0.38mi
3920 E 30th St Indianapolis, IN	3.0	1.0	1071	$1,350	$1.26	7d	1	0.41mi
3920 E 30th St Indianapolis, IN	3.0	1.0	1071	$1,350	$1.26	4d	1	0.41mi
3522 N Olney St Indianapolis, IN	3.0	1.0	768	$1,300	$1.69	43d	1	0.47mi
3725 N Sherman Dr #7 Indianapolis, IN	2.0	1.0	729	$845	$1.16	3d	1	0.51mi
4726 E 34th St Indianapolis, IN	1.0	1.0	643	$800	$1.24	23d	1	0.55mi
3332 Wallace Ave Indianapolis, IN	3.0	1.0	936	$1,600	$1.71	23d	1	0.57mi
2862 N Chester Ave Indianapolis, IN	3.0	2.0	1076	$1,520	$1.41	43d	1	0.58mi
2864 Forest Manor Ave Indianapolis, IN	3.0	1.0	1018	$1,500	$1.47	23d	1	0.59mi
4615 E 30th St Indianapolis, IN	2.0	1.0	660	$1,100	$1.67	23d	1	0.62mi
3472 N Dearborn St Indianapolis, IN	2.0	1.0	890	$1,099	$1.23	19d	1	0.68mi
2932 Arthington Blvd Indianapolis, IN	3.0	1.0	900	$1,350	$1.50	23d	1	0.68mi
2949 Adams St Indianapolis, IN	2.0	1.0	978	$1,150	$1.18	43d	1	0.70mi
3461 N Dequincy St Indianapolis, IN	1.0	1.0	900	$720	$0.80	43d	1	0.70mi
3615 Sherman Forest Dr Indianapolis, IN	4.0	1.0–2.5	1057	$1,288	$1.22	4d	1	0.72mi
2950 N Dequincy St Indianapolis, IN	3.0	1.0	888	$1,375	$1.55	13d	1	0.72mi
2920 N Lasalle St Indianapolis, IN	3.0	1.0	875	$1,095	$1.25	17d	1	0.80mi
2930 N Dearborn St Indianapolis, IN	1.0	1.0	536	$599	$1.12	23d	1	0.82mi
3535 N Oxford St Indianapolis, IN	3.0	1.0	1015	$1,500	$1.48	21d	1	0.83mi
3316 N Emerson Ave Indianapolis, IN	3.0	1.0	912	$1,100	$1.21	23d	1	0.85mi
2722 N Olney St Indianapolis, IN	2.0	1.0	650	$795	$1.22	43d	1	0.86mi
3301 Mardenna Ave Indianapolis, IN	3.0	1.0	925	$1,200	$1.30	43d	1	1.00mi
4115 Meadows Dr Indianapolis, IN	1.0–3.0	1.0–2.0	1013	$1,374	$1.36	43d	9	1.07mi
2422 Adams St Unit 2 Indianapolis, IN	1.0	1.0	700	$850	$1.21	43d	1	1.10mi
2410 Adams St Indianapolis, IN	3.0	1.0	900	$1,200	$1.33	10d	1	1.12mi
3319 N Hawthorne Ln Indianapolis, IN	3.0	1.0	1084	$1,100	$1.01	23d	1	1.14mi
3516 N Hawthorne Ln Indianapolis, IN	3.0	1.0	925	$1,225	$1.32	4d	1	1.16mi
2931 N Tacoma Ave Unit 31 Indianapolis, IN	2.0	1.0	800	$950	$1.19	7d	1	1.17mi
3741 N Tacoma Ave Indianapolis, IN	3.0	1.0	913	$2,200	$2.41	17d	1	1.18mi
2449 Wheeler St Indianapolis, IN	1.0	1.0	600	$950	$1.58	23d	1	1.18mi
3815 N Grand Ave Unit 3815 Indianapolis, IN	2.0	1.0	965	$1,250	$1.30	4d	1	1.18mi
3011 Oxford Ln Indianapolis, IN	1.0	1.0	640	$800	$1.25	43d	1	1.19mi
2821 Oxford Ln Indianapolis, IN	1.0	1.0	640	$825	$1.29	43d	1	1.27mi
3719 Hillside Ave Indianapolis, IN	1.0	1.0	644	$725	$1.13	23d	1	1.31mi
2530 N Temple Ave Indianapolis, IN	1.0	1.0	720	$750	$1.04	20d	1	1.36mi
3636 N Whittier Pl Indianapolis, IN	3.0	1.0	912	$995	$1.09	7d	1	1.37mi

Listing history 1 events

1. 2026-05-12
   listed $74,900 Active 405-char remark

ⓘ 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: $2,548 · $212/mo
• Projected year-2 tax: $2,548 · $212/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 · 18 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: $14,033
• − Mortgage interest: −$4,196
• − Property taxes: −$2,548
• − Insurance: −$374
• − Repairs & maintenance: −$1,123
• − Management: −$1,123
• − Depreciation: −$2,179
• Taxable income: $2,490
• Est. tax owed @ 24.0%: −$598
• After-tax cash flow: $2,852/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

2 events — show timeline

• 2026-05-26 Pending — MIBOR as Distributed by MLS Grid
• 2026-05-12 Listed $74,900 MIBOR as Distributed by MLS Grid

Property tax history

+10.2%/yr

Latest (2025): $2,548 · -5.8% YoY. Source: county tax records.