5915 E Shimer Ave · Indianapolis city (balance), IN 46219

$109,000

2 bd · 1.0 ba · 725 sqft · SingleFamily public records · 5 Days on market

Built 1949 5,793 sqft lot Est $156k · 30% 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 +15.7/30.0
• ARV discount +15.0/15.0
• DSCR +4.8/10.0
• 1% rule +3.2/10.0
• Rent growth +3.2/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.4/10.0
• Appreciation +0.0/10.0

Listing remarks

Investor special! This 2-bedroom, 1-bath home on Indianapolis' east side offers approximately 725 square feet and has been utilized as a rental property for the past two years. Convenient location with easy access to downtown, shopping, dining, and major roadways. Great opportunity for investors, landlords, or buyers looking for an affordable home with upside potential. Property is being sold as-is.

Key facts

• 5,793 sq ft lot
• Built 1949
• Listed 4 days

Property features AI

Finance

• Other: Property size: under 1/4 acre (0.13 acres)

Exterior

• Parking: On-street parking
• Utilities: Public water; Municipal sewer connected
• Home design: Single-family residence; One-story; North-facing; Property listed as fixer condition
• Construction: Wood siding; Crawl space foundation
• Exterior features: Covered porch; Deck; Mini barn; Full yard fencing

Interior

• Kitchen: Kitchen on main level
• Bedrooms: Two main-level bedrooms
• Bathrooms: One full bathroom
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: 6 total main-level rooms including living room, dining room, kitchen and laundry; Appliances: None listed
• Laundry & utility: Main-level laundry room

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $109k.

Deal economics

• At list price, monthly cash flow is $48 ($579/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 $90k (17.6% below list).
• Recommended offer: $90k (17.6% 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 (+2.6%/yr); 143 active listings in the ZIP; 23 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 43% of comp listings sitting > 30 days — soft ceiling on asking rent; 1,906 units permitted in Marion County in 2024 (621 in 5+ unit buildings).
• This rent is only 18% of the median local income ($61k/yr) — well below the 30% rent-burden line; pricing power to push rent on renewal without tenant pushback.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $754 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

• Only 5 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1949 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $89,780 (17.6% below list)

Questions for the listing agent

1. Built in 1949 — 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: 0.82% ✗
• Cap rate: 6.82%
• Cash-on-cash: 1.90%
• DSCR: 1.08
• GRM: 10.1

CMA / ARV

• ARV (on-the-fly): $155,875
• Comps found: 3

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
5826 Greenfield Ave	0.17mi	2/1.0	725 (0%)	1mo	$155,000	$214	91
212 S Good Ave	0.59mi	2/1.0	792 (+9%)	13mo	$170,000	$215	46
5502 Rawles Ter	0.49mi	2/1.0	823 (+14%)	15mo	$178,000	$216	42

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 · 2.63% rent growth · sell at horizon

5-year hold

• IRR: -13.7%
• Equity multiple: 0.51×
• Total profit: $-14,963
• Equity at exit: $16,252

10-year hold

• IRR: -5.4%
• Equity multiple: 0.65×
• Total profit: $-10,601
• Equity at exit: $9,424

Cash invested: $30,520 (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 46219

• Rents YoY: 2.6%
• Active inventory: 143
• Price-to-rent: 10.1×

Monthly cashflow live

• Estimated rent: $898 high
• Mortgage (P&I): −$572
• Tax from tax record: −$44 /mo · $527/yr
• Insurance: −$45
• HOA: −$0
• Vacancy / Maint / Mgmt: −$189
• Net cashflow: $48

Break-even live

Break-even rent $837

Max offer price $109,000

Occupancy floor 90%

Sensitivity live

Price	-10% $110	-5% $79	+0% $48	+5% $17	+10% $-13
Rent	-10% $-23	-5% $13	+0% $48	+5% $84	+10% $119
Rate	-1.0pp $103	-0.5pp $76	base $48	+0.5pp $20	+1.0pp $-9

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: $27,250
• Closing costs: $3,270
• Reserves months: —
• Total cash needed: —

Rent comps 23 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
29 S Audubon Rd Indianapolis, IN	1.0–2.0	1.0	670	$989	$1.48	15d	5	0.78mi
5819 E Washington St #13 Indianapolis, IN	1.0	1.0	700	$795	$1.14	44d	1	0.80mi
5819 E Washington St #10 Indianapolis, IN	1.0	1.0	550	$715	$1.30	44d	1	0.80mi
5901 E Washington St Apt 38 Indianapolis, IN	1.0	1.0	670	$949	$1.42	3d	1	0.80mi
5703 E Washington St Indianapolis, IN	2.0	1.0	628	$1,025	$1.63	4d	3	0.82mi
19 S Webster Ave Indianapolis, IN	1.0	1.0	700	$799	$1.14	44d	1	0.82mi
15 S Webster Ave Indianapolis, IN	1.0	1.0	650	$799	$1.23	5d	1	0.83mi
5914 E Washington St Indianapolis, IN	1.0	1.0	700	$825	$1.18	24d	1	0.85mi
5730 E Washington St Indianapolis, IN	1.0–2.0	1.0	556	$865	$1.55	15d	4	0.86mi
6052 E Washington St Unit B Indianapolis, IN	1.0	1.0	600	$575	$0.96	24d	1	0.89mi
5230 E Washington St Indianapolis, IN	1.0	1.0	463	$804	$1.74	3d	6	1.07mi
5230 E Washington St Indianapolis, IN	1.0	1.0	463	$819	$1.77	11d	6	1.07mi
4 N Butler Ave Unit 2 Indianapolis, IN	1.0	1.0	500	$675	$1.35	24d	1	1.10mi
5143 E Washington St Apt 102 Indianapolis, IN	1.0	1.0	630	$850	$1.35	44d	1	1.11mi
5143 E Washington St Apt 101 Indianapolis, IN	1.0	1.0	600	$800	$1.33	44d	1	1.11mi
25 S Emerson Ave Indianapolis, IN	1.0	1.0	710	$649	$0.91	44d	1	1.15mi
528 S Bosart Ave Indianapolis, IN	3.0	1.0	720	$1,305	$1.81	44d	1	1.24mi
648 Dayton Ave Indianapolis, IN	1.0	1.0	450	$750	$1.67	15d	1	1.30mi
4926 E Washington St Apt 5 Indianapolis, IN	1.0	1.0	700	$895	$1.28	44d	1	1.33mi
4815 E Washington St Unit 4815-10 Indianapolis, IN	1.0	1.0	600	$950	$1.58	23d	1	1.38mi
4815 E Washington St Unit 4815-04 Indianapolis, IN	1.0	1.0	600	$895	$1.49	44d	1	1.38mi
4815 E Washington St Unit 4815-12 Indianapolis, IN	1.0	1.0	700	$950	$1.36	44d	1	1.38mi
4741 E Washington St Indianapolis, IN	1.0	1.0	700	$950	$1.36	23d	1	1.44mi

Listing history 4 events

1. 2026-06-21
   days on market $109,000 Active 5 DOM
2. 2026-06-18
   days on market $109,000 Active 2 DOM
3. 2026-06-17
   remarks 402-char remark
4. 2026-06-17
   listed $109,000 Active 1 DOM

ⓘ 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: $527 · $44/mo
• Projected year-2 tax: $727 · $61/mo
• Expected delta: +$200/yr (+$17/mo · 37.8%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 5/10 Major FEMA zone X (unshaded) · 48% 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: $10,774
• − Mortgage interest: −$6,106
• − Property taxes: −$527
• − Insurance: −$545
• − Repairs & maintenance: −$862
• − Management: −$862
• − Depreciation: −$3,171
• Taxable loss: −$1,299
• Est. tax savings @ 24.0%: +$312
• After-tax cash flow: $891/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): 38,855
• Household income: $60,803
• Rent vs Own: 41.0% rent · 59.0% own
• Severe rent burden: 2191.0

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 0.63)
• Race & ethnicity: White 54% Black 22% Hispanic / Latino 18% Two or more races 9%
• Hispanic origin (detail): Mexican 10% Puerto Rican 1%
• Common ancestry: Slovak 2% Romanian 2% Lithuanian 2%
• Foreign-born: 10% · Canada
• Languages at home: 85% English-only · Spanish 14%

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: ▼ -199.69%
• Current HPI: 289.8788
• Rent YoY: ▲ 2.63%
• 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

1 event — show timeline

• 2026-06-16 Listed $109,000 MIBOR as Distributed by MLS Grid

Property tax history

+8.7%/yr

Latest (2025): $527 · -16.0% YoY. Source: county tax records.