8114 E 36th St · Indianapolis city (balance), IN 46226

$159,900

3 bd · 1.5 ba · 2,270 sqft · SingleFamily public records · 53 Days on market

Built 1962 7,187 sqft lot $70/sqft · 32% below area Est $166k · at est.

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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 +13.8/30.0
• ARV discount +9.1/15.0
• 1% rule +4.8/10.0
• DSCR +4.2/10.0
• Rent growth +4.2/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.4/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to this charming single-story ranch home located on the east side of Indianapolis. Built in 1964, this detached residence offers a classic layout with comfortable living spaces and great potential for customization. Situated on a spacious lot in an established neighborhood, the property provides a peaceful residential setting while remaining conveniently close to schools, shopping, dining, and major roadways. This home is ideal for buyers seeking a solid investment opportunity or a place to make their own. With its traditional design and functional floor plan, it offers a great foundation for updates and modern touches. Whether you're a first-time homebuyer or an investor, this property presents excellent value and potential in a well-connected location.

Key facts

• Spacious lot
• 7,187 sq ft lot
• 2 garage spots

Tags

• SINGLE-STORY RANCH HOME
• SPACIOUS LOT
• ESTABLISHED NEIGHBORHOOD
• PEACEFUL RESIDENTIAL SETTING
• FUNCTIONAL FLOOR PLAN
• WELL-CONNECTED LOCATION

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $160k.

Deal economics

• At list price, monthly cash flow is $16 ($188/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 $156k (2.4% below list).
• Recommended offer: $155k (3.0% below list) — sets the bar for market timing.
• Cap rate 6.4% 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.
• Zoned schools: Center For Inquiry School 27 (math 25% / reading 29%, grade F, #737 of 994 statewide, top 76%, 525 students, 51% FRL); H L Harshman Middle School (math 3% / reading 16%, grade F, #316 of 330 statewide, top 96%, 549 students, 84% FRL).
• Market conditions: Rents rising fast (+6.8%/yr); 153 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals at typical pace (median 17d 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 37% of the median local income ($50k/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 $1k of loan paydown is wiped out by about $5k 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 53 days — a 3% lower offer ($155k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 10y ago; this cycle's ask has dropped $60k (27%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $49k; list at $160k implies a 226% gain — meaningful room to come down on a strong offer.

Recommended offer $155,103 (3.0% below list)

Questions for the listing agent

1. It's been on market 53 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 1962 — 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. 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?
5. 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.
6. 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.
7. 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: 0.98% ✗
• Cap rate: 6.41%
• Cash-on-cash: 0.42%
• DSCR: 1.02
• GRM: 8.5

CMA / ARV

• ARV (median comp): $165,986
• List price: $159,900
• Delta: -3.67%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3607 Wellington Ave	0.28mi	3/1.5	2,134 (-6%)	5mo	$163,000	$76	73
3537 Cecil Ave	0.10mi	3/1.5	1,960 (-14%)	1mo	$165,000	$84	72
3541 Alpine Pl	0.31mi	4/3.0 (+1)	2,276 (+0%)	12mo	$221,500	$97	64
3544 Cecil Ave	0.08mi	4/1.5 (+1)	1,960 (-14%)	6mo	$175,000	$89	64
3976 Marseille Rd	0.67mi	3/2.0	2,206 (-3%)	1mo	$195,000	$88	61
7919 Penway St	0.24mi	4/2.0 (+1)	2,000 (-12%)	2mo	$175,000	$88	61
3449 Seine Ct	0.65mi	4/1.5 (+1)	2,160 (-5%)	2mo	$195,000	$90	55
7602 Penway St	0.53mi	4/2.0 (+1)	2,080 (-8%)	3mo	$235,000	$113	51
7514 Ruskin Pl	0.62mi	4/2.5 (+1)	2,240 (-1%)	12mo	$190,000	$85	50
8309 E 41st Pl	0.73mi	4/2.0 (+1)	2,200 (-3%)	7mo	$240,000	$109	48
3675 Dubarry Rd	0.54mi	4/2.0 (+1)	2,035 (-10%)	4mo	$215,000	$106	47
3949 Chateau Dr	0.67mi	4/2.0 (+1)	1,998 (-12%)	9mo	$250,000	$125	34

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 · 6.76% rent growth · sell at horizon

5-year hold

• IRR: -11.1%
• Equity multiple: 0.58×
• Total profit: $-18,693
• Equity at exit: $23,842

10-year hold

• IRR: 3.3%
• Equity multiple: 1.28×
• Total profit: $12,548
• Equity at exit: $13,825

Cash invested: $44,772 (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 46226

• Rents YoY: 6.8%
• Active inventory: 153
• Price-to-rent: 8.5×

Monthly cashflow live

• Estimated rent: $1,560 medium
• Mortgage (P&I): −$839
• Tax from tax record: −$312 /mo · $3,742/yr
• Insurance: −$67
• HOA: −$0
• Vacancy / Maint / Mgmt: −$328
• Net cashflow: $16

Break-even live

Break-even rent $1,540

Max offer price $159,900

Occupancy floor 94%

Sensitivity live

Price	-10% $106	-5% $61	+0% $16	+5% $-30	+10% $-75
Rent	-10% $-108	-5% $-46	+0% $16	+5% $77	+10% $139
Rate	-1.0pp $96	-0.5pp $56	base $16	+0.5pp $-26	+1.0pp $-68

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: $39,975
• Closing costs: $4,797
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
8513 E 37th Pl Indianapolis, IN	4.0	1.5	1645	$1,525	$0.93	0d	1	0.43mi
3644 Celtic Dr Indianapolis, IN	4.0	1.5	1637	$1,500	$0.92	16d	1	1.09mi
3722 Ireland Dr Indianapolis, IN	3.0	2.0	1682	$1,700	$1.01	46d	1	1.19mi
9513 Baker Ct Indianapolis, IN	4.0	2.0	1702	$1,825	$1.07	9d	1	1.43mi

Listing history 22 events

1. 2026-06-21
   days on market $159,900 Active 53 DOM
2. 2026-06-18
   days on market $159,900 Active 50 DOM
3. 2026-06-17
   days on market $159,900 Active 49 DOM
4. 2026-06-16
   days on market $159,900 Active 48 DOM
5. 2026-06-15
   days on market $159,900 Active 47 DOM
6. 2026-06-13
   days on market $159,900 Active 45 DOM
7. 2026-06-13
   pricedays on market $159,900 Active 44 DOM
8. 2026-06-09
   days on market $219,900 Active 41 DOM
9. 2026-06-08
   days on market $219,900 Active 40 DOM
10. 2026-06-07
    days on market $219,900 Active 39 DOM
11. 2026-06-03
    days on market $219,900 Active 35 DOM
12. 2026-06-02
    days on market $219,900 Active 34 DOM
13. 2026-06-01
    days on market $219,900 Active 33 DOM
14. 2026-05-31
    days on market $219,900 Active 32 DOM
15. 2026-05-19
    status Active 775-char remark

    Show marketing remark (775 chars)

    Welcome to this charming single-story ranch home located on the east side of Indianapolis. Built in 1964, this detached residence offers a classic layout with comfortable living spaces and great potential for customization. Situated on a spacious lot in an established neighborhood, the property provides a peaceful residential setting while remaining conveniently close to schools, shopping, dining, and major roadways. This home is ideal for buyers seeking a solid investment opportunity or a place to make their own. With its traditional design and functional floor plan, it offers a great foundation for updates and modern touches. Whether you're a first-time homebuyer or an investor, this property presents excellent value and potential in a well-connected location.

16. 2026-05-07
    status Pending 775-char remark

    Show marketing remark (775 chars)

    Welcome to this charming single-story ranch home located on the east side of Indianapolis. Built in 1964, this detached residence offers a classic layout with comfortable living spaces and great potential for customization. Situated on a spacious lot in an established neighborhood, the property provides a peaceful residential setting while remaining conveniently close to schools, shopping, dining, and major roadways. This home is ideal for buyers seeking a solid investment opportunity or a place to make their own. With its traditional design and functional floor plan, it offers a great foundation for updates and modern touches. Whether you're a first-time homebuyer or an investor, this property presents excellent value and potential in a well-connected location.

17. 2026-04-17
    listed $219,900 Active 775-char remark

    Show marketing remark (775 chars)

    Welcome to this charming single-story ranch home located on the east side of Indianapolis. Built in 1964, this detached residence offers a classic layout with comfortable living spaces and great potential for customization. Situated on a spacious lot in an established neighborhood, the property provides a peaceful residential setting while remaining conveniently close to schools, shopping, dining, and major roadways. This home is ideal for buyers seeking a solid investment opportunity or a place to make their own. With its traditional design and functional floor plan, it offers a great foundation for updates and modern touches. Whether you're a first-time homebuyer or an investor, this property presents excellent value and potential in a well-connected location.

18. 2016-10-24
    soldstatus $49,000 Sold 225-char remark

    Show marketing remark (225 chars)

    DRASTICALLY REDUCED!!!!SELLING A NICE 3 BED - BI-LEVEL 2CAR GARAGE hardwoods fireplace updated kitchenREFINISHED HARDWOOD FLOORSUPDATED KITCHEN UPDATED BATHROOMS BEAUTIFUL HOMEFAMILY ROOM MAIN LEVELBONUS/GAME ROOM LOWER LEVEL

19. 2016-09-21
    price $65,900 225-char remark

    Show marketing remark (225 chars)

    DRASTICALLY REDUCED!!!!SELLING A NICE 3 BED - BI-LEVEL 2CAR GARAGE hardwoods fireplace updated kitchenREFINISHED HARDWOOD FLOORSUPDATED KITCHEN UPDATED BATHROOMS BEAUTIFUL HOMEFAMILY ROOM MAIN LEVELBONUS/GAME ROOM LOWER LEVEL

20. 2016-08-02
    price $75,900 225-char remark

    Show marketing remark (225 chars)

    DRASTICALLY REDUCED!!!!SELLING A NICE 3 BED - BI-LEVEL 2CAR GARAGE hardwoods fireplace updated kitchenREFINISHED HARDWOOD FLOORSUPDATED KITCHEN UPDATED BATHROOMS BEAUTIFUL HOMEFAMILY ROOM MAIN LEVELBONUS/GAME ROOM LOWER LEVEL

21. 2016-07-23
    listed $81,900 Active 225-char remark

    Show marketing remark (225 chars)

    DRASTICALLY REDUCED!!!!SELLING A NICE 3 BED - BI-LEVEL 2CAR GARAGE hardwoods fireplace updated kitchenREFINISHED HARDWOOD FLOORSUPDATED KITCHEN UPDATED BATHROOMS BEAUTIFUL HOMEFAMILY ROOM MAIN LEVELBONUS/GAME ROOM LOWER LEVEL

22. 2002-05-03
    soldstatus $83,790

ⓘ 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: $3,742 · $312/mo
• Projected year-2 tax: $3,742 · $312/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 3/10 Moderate FEMA zone X (shaded) · 20% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥101°F today · 18 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $18,724
• − Mortgage interest: −$8,957
• − Property taxes: −$3,742
• − Insurance: −$800
• − Repairs & maintenance: −$1,498
• − Management: −$1,498
• − Depreciation: −$4,652
• Taxable loss: −$2,422
• Est. tax savings @ 24.0%: +$581
• After-tax cash flow: $769/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): 47,099
• Household income: $50,325
• Rent vs Own: 53.8% rent · 46.2% own
• Severe rent burden: 2742.0

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: Black 53% White 25% Hispanic / Latino 17% Two or more races 9% Asian 2%
• Hispanic origin (detail): Mexican 11%
• Common ancestry: Lithuanian 1% Italian 1% Romanian 1%
• Foreign-born: 11% · Canada
• Languages at home: 86% English-only · Spanish 10% French/Haitian/Cajun 1% Other Asian/Pacific 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: ▼ -218.85%
• Current HPI: 239.43
• Rent YoY: ▲ 6.76%
• 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

+162.4% since first listed

8 events — show timeline

• 2026-05-19 Relisted — MIBOR as Distributed by MLS Grid
• 2026-05-07 Pending — MIBOR as Distributed by MLS Grid
• 2026-04-17 Listed $219,900 MIBOR as Distributed by MLS Grid
• 2016-10-24 Sold (MLS) $49,000 MIBOR as Distributed by MLS Grid
• 2016-09-21 Price Changed $65,900 MIBOR as Distributed by MLS Grid
• 2016-08-02 Price Changed $75,900 MIBOR as Distributed by MLS Grid
• 2016-07-23 Listed $81,900 MIBOR as Distributed by MLS Grid
• 2002-05-03 Sold (Public Records) $83,790 Public Records

Property tax history

+12.3%/yr

Latest (2025): $3,742 · +27.3% YoY. Source: county tax records.