2005 Sharon Ave · Indianapolis city (balance), IN 46222

$99,000

2 bd · 1.0 ba · 672 sqft · SingleFamily public records · 52 Days on market

Built 1946 6,186 sqft lot $147/sqft · 29% above area Est $154k · 36% 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 +21.2/30.0
• ARV discount +15.0/15.0
• DSCR +6.8/10.0
• 1% rule +6.2/10.0
• Rent growth +3.1/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.4/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Opportunity on the west side of Indianapolis! This 2-bedroom, 1-bath single-level home with a full basement offers solid potential for investors or buyers looking to add value. Previously tenant-occupied, the property presents a great option for a fix-and-flip, rental, or long-term hold strategy. Conveniently located near Indianapolis Motor Speedway and White River Parkway with quick access to downtown amenities. Property is in need of repairs and is being sold as-is.

Key facts

• Full basement
• 6,186 sq ft lot
• Garage

Tags

• FULL BASEMENT

🏷️ Possibly a rental listed for sale. The $99,000 price doesn't fit this home's estimated sale value (~$153,592) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $99k.

Deal economics

• At list price, monthly cash flow is $144 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $99k).
• Recommended offer: $96k (3.0% below list) — sets the bar for market timing.
• Cap rate 8.0% 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 (+2.5%/yr); 170 active listings in the ZIP; 18 comparable units currently listed for rent nearby; rentals leasing fast (median 14d on market — plan ~1-2 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 $684 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 52 days — a 3% lower offer ($96k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 14y ago; this cycle's ask has dropped $11k (10%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $35k; list at $99k implies a 183% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1946 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $96,030 (3.0% below list)

Questions for the listing agent

1. It's been on market 52 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1946 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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: 1.12% ✓
• Cap rate: 8.03%
• Cash-on-cash: 6.21%
• DSCR: 1.28
• GRM: 7.4

CMA / ARV

• ARV (median comp): $153,592
• List price: $99,000
• Delta: -35.54%
• 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
2225 N Centennial St	0.31mi	2/1.0	725 (+8%)	2mo	$140,000	$193	71
2257 N Goodlet Ave	0.33mi	2/1.0	725 (+8%)	5mo	$140,000	$193	67
2245 N Goodlet Ave	0.31mi	2/1.0	725 (+8%)	8mo	$97,500	$134	66
2305 N Goodlet Ave	0.38mi	2/1.0	725 (+8%)	4mo	$143,000	$197	65
2341 N Tibbs Ave	0.57mi	2/1.0	725 (+8%)	0mo	$84,000	$116	60
1209 N Centennial St	0.69mi	2/1.0	732 (+9%)	3mo	$140,000	$191	51
1169 N Goodlet Ave	0.69mi	2/1.0	725 (+8%)	5mo	$129,000	$178	50
1700 N Tibbs Ave	0.49mi	2/1.0	750 (+12%)	12mo	$125,000	$167	48
2010 N Exeter Ave	0.64mi	2/1.0	736 (+10%)	8mo	$140,000	$190	47
2473 N Goodlet Ave	0.72mi	2/1.0	725 (+8%)	8mo	$117,100	$162	46
1623 N Centennial St	0.42mi	2/2.0	760 (+13%)	10mo	$110,000	$145	46
2018 N Rochester Ave	0.71mi	2/1.0	600 (-11%)	12mo	$170,000	$283	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 · 2.46% rent growth · sell at horizon

5-year hold

• IRR: -7.3%
• Equity multiple: 0.73×
• Total profit: $-7,451
• Equity at exit: $14,761

10-year hold

• IRR: 1.6%
• Equity multiple: 1.11×
• Total profit: $3,041
• Equity at exit: $8,560

Cash invested: $27,720 (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 46222

• Home prices YoY: -16.7%
• Rents YoY: 2.5%
• Active inventory: 170
• Price-to-rent: 7.4×

Monthly cashflow live

• Estimated rent: $1,109 high
• Mortgage (P&I): −$519
• Tax from tax record: −$172 /mo · $2,066/yr
• Insurance: −$41
• HOA: −$0
• Vacancy / Maint / Mgmt: −$233
• Net cashflow: $144

Break-even live

Break-even rent $927

Max offer price $99,000

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: $24,750
• Closing costs: $2,970
• Reserves months: —
• Total cash needed: —

Rent comps 18 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2774 Pixel DR Indianapolis, IN	1.0	1.0	750	$1,100	$1.47	43d	1	0.40mi
2418 N Centennial St Indianapolis, IN	2.0	1.0	725	$1,099	$1.52	43d	1	0.56mi
2014 N Exeter Ave Indianapolis, IN	2.0	1.0	660	$1,295	$1.96	7d	1	0.65mi
1411 N Pershing Ave Indianapolis, IN	1.0	1.0	700	$850	$1.21	43d	1	0.70mi
1165 N Concord St Indianapolis, IN	1.0	1.0	695	$775	$1.12	43d	1	0.71mi
3621 Lawnview Ln Indianapolis, IN	1.0–4.0	1.0–1.5	1012	$1,026	$1.01	1d	13	0.71mi
771 Haugh St Indianapolis, IN	2.0	1.0	714	$1,250	$1.75	19d	1	1.08mi
1510 Stadium Way Unit 220 Indianapolis, IN	1.0	1.0	665	$1,365	$2.05	7d	1	1.10mi
2930 Lafayette Rd Indianapolis, IN	2.0	1.0	642	$1,108	$1.72	1d	5	1.15mi
1150 N White River Pkwy West Dr Indianapolis, IN	1.0–2.0	1.0	722	$1,224	$1.69	1d	9	1.19mi
1410 Breedlove Ln Indianapolis, IN	2.0	1.0–2.0	886	$2,557	$2.88	1d	63	1.32mi
1457 W 29th St Indianapolis, IN	2.0	1.0	686	$995	$1.45	20d	1	1.38mi
1319 W 27th St Indianapolis, IN	2.0	1.0	651	$900	$1.38	12d	1	1.42mi
3215 N Alton Ave Indianapolis, IN	1.0–3.0	1.0–2.0	970	$1,214	$1.25	2d	16	1.42mi
3215 N Alton Ave Unit 3348-108 Indianapolis, IN	1.0	1.0	662	$849	$1.28	13d	1	1.42mi
3215 N Alton Ave Unit 3328-206 Indianapolis, IN	1.0	1.0	662	$829	$1.25	21d	1	1.42mi
3215 N Alton Ave Unit 3230-207 Indianapolis, IN	1.0	1.0	662	$829	$1.25	23d	1	1.42mi
411 N Centennial St Indianapolis, IN	2.0	1.0	750	$995	$1.33	7d	1	1.50mi

Listing history 14 events

1. 2026-06-03
   status $99,000 Pending 52 DOM
2. 2026-06-02
   days on market $99,000 Active 52 DOM
3. 2026-06-01
   days on market $99,000 Active 51 DOM
4. 2026-05-31
   days on market $99,000 Active 50 DOM
5. 2026-04-29
   price $99,000 472-char remark

   Show marketing remark (472 chars)

   Opportunity on the west side of Indianapolis! This 2-bedroom, 1-bath single-level home with a full basement offers solid potential for investors or buyers looking to add value. Previously tenant-occupied, the property presents a great option for a fix-and-flip, rental, or long-term hold strategy. Conveniently located near Indianapolis Motor Speedway and White River Parkway with quick access to downtown amenities. Property is in need of repairs and is being sold as-is.

6. 2026-04-11
   listed $110,000 Active 472-char remark

   Show marketing remark (472 chars)

   Opportunity on the west side of Indianapolis! This 2-bedroom, 1-bath single-level home with a full basement offers solid potential for investors or buyers looking to add value. Previously tenant-occupied, the property presents a great option for a fix-and-flip, rental, or long-term hold strategy. Conveniently located near Indianapolis Motor Speedway and White River Parkway with quick access to downtown amenities. Property is in need of repairs and is being sold as-is.

7. 2018-03-01
   listed $35,000 Active 15-char remark

   Show marketing remark (15 chars)

   Listed and sold

8. 2018-02-28
   soldstatus $35,000 Sold 15-char remark

   Show marketing remark (15 chars)

   Listed and sold

9. 2017-11-14
   historical
10. 2017-10-31
    price $31,000
11. 2017-09-14
    listed $35,000 Active
12. 2013-01-10
    historical
13. 2013-01-08
    soldstatus $13,000
14. 2012-11-02
    listed $14,205

ⓘ 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: $2,066 · $172/mo
• Projected year-2 tax: $2,066 · $172/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 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: $13,308
• − Mortgage interest: −$5,546
• − Property taxes: −$2,066
• − Insurance: −$495
• − Repairs & maintenance: −$1,065
• − Management: −$1,065
• − Depreciation: −$2,880
• Taxable income: $193
• Est. tax owed @ 24.0%: −$46
• After-tax cash flow: $1,677/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): 38,887
• Household income: $50,783
• Rent vs Own: 51.7% rent · 48.3% own
• Severe rent burden: 1750.0

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: Highly diverse neighborhood (Simpson 0.72)
• Race & ethnicity: White 32% Black 30% Hispanic / Latino 30% Two or more races 12% Asian 2%
• Hispanic origin (detail): Mexican 24% Puerto Rican 1%
• Common ancestry: Lithuanian 1% Iranian 1% Slovak 1%
• Foreign-born: 21% · Canada, Jamaica
• Languages at home: 67% English-only · Spanish 25% Other Indo-European 3% Arabic 2%

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: ▼ -75.47%
• Current HPI: 375.8479
• Rent YoY: ▲ 2.46%
• 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

+596.9% since first listed

10 events — show timeline

• 2026-04-29 Price Changed $99,000 MIBOR as Distributed by MLS Grid
• 2026-04-11 Listed $110,000 MIBOR as Distributed by MLS Grid
• 2018-03-01 Listed $35,000 MIBOR as Distributed by MLS Grid
• 2018-02-28 Sold (MLS) $35,000 MIBOR as Distributed by MLS Grid
• 2017-11-14 Listing Removed — MIBOR as Distributed by MLS Grid
• 2017-10-31 Price Changed $31,000 MIBOR as Distributed by MLS Grid
• 2017-09-14 Listed $35,000 MIBOR as Distributed by MLS Grid
• 2013-01-10 Listing Removed — MIBOR as Distributed by MLS Grid
• 2013-01-08 Sold (MLS) $13,000 MIBOR as Distributed by MLS Grid
• 2012-11-02 Listed $14,205 MIBOR as Distributed by MLS Grid

Property tax history

+9.3%/yr

Latest (2025): $2,066 · +10.5% YoY. Source: county tax records.