915 N Lasalle St · Indianapolis city (balance), IN 46201

$165,000

3 bd · 6.0 ba · 1,328 sqft · MultiFamily public records · 58 Days on market

Built 1910 6,795 sqft lot $124/sqft · 155% above area Est $184k · 11% 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 +23.6/30.0
• ARV discount +12.2/15.0
• DSCR +7.6/10.0
• 1% rule +7.1/10.0
• Rent growth +4.3/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.4/10.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Key facts

• 6,795 sq ft lot
• Built 1910
• Listed 58 days

Property features AI

Finance

• Financial info: Two-unit property; Unit 1 rent listed at $1,500 per month; Unit 2 rent listed at $1,200 per month; Reported gross income and expenses listed as 0

Exterior

• Utilities: No solid waste service listed
• Home design: Duplex residential income property; Two stories
• Exterior features: Vacant current use; Access road

Interior

• Kitchen: Unit 1 kitchen approximately 17x9; Unit 2 kitchen approximately 15x10
• Bedrooms: Two 2-bedroom units
• Interior features: Has basement; Two levels

What this means for you Summary

Snapshot

• This is a 3-bed/6.0-bath multifamily listed at $165k.

Deal economics

• At list price, monthly cash flow is $310 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $165k).
• Recommended offer: $160k (3.0% below list) — sets the bar for market timing.
• Cap rate 8.5% 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.
• Zoned schools: Frederick Douglass School 19 (math 9% / reading 13%, grade F, #909 of 994 statewide, top 92%, 444 students, 81% FRL); H L Harshman Middle School (math 3% / reading 16%, grade F, #316 of 330 statewide, top 96%, 549 students, 84% FRL); Arsenal Technical High School (math 6% / reading 27%, grade F, #353 of 369 statewide, top 96%, 2,366 students, 74% FRL) — zoned schools at 80% FRL track the district average.
• Market conditions: Rents rising fast (+7.3%/yr); 483 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 26d on market — plan ~3-4 weeks tenant-placement turnaround); 40% 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).
• At $1,989/mo this rent would consume 49% of the median local household income ($49k/yr) (locally 1906% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

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.
• At projected returns (-3.0% appreciation + 7.3% rent growth), your $46k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 58 days — a 3% lower offer ($160k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 16y ago; this cycle's ask has dropped $10k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1910 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $160,050 (3.0% below list)

Questions for the listing agent

1. It's been on market 58 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 1910 — 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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.21% ✓
• Cap rate: 8.55%
• Cash-on-cash: 8.06%
• DSCR: 1.36
• GRM: 6.9

CMA / ARV

• ARV (median comp): $184,395
• List price: $165,000
• Delta: -10.52%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1315 N Rural St	0.53mi	2/2.0 (-1)	1,392 (+5%)	5mo	$82,000	$59	43
626-628 N Oxford St	0.37mi	2/2.0 (-1)	1,512 (+14%)	3mo	$123,000	$81	37
318 N Sherman Dr	0.61mi	2/4.0 (-1)	1,500 (+13%)	10mo	$220,000	$147	29
826 N Beville Ave	0.71mi	3/1.0	1,472 (+11%)	2mo	$236,000	$160	27
1308 N Chester Ave	0.63mi	2/2.0 (-1)	1,200 (-10%)	13mo	$138,000	$115	24

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 · 7.31% rent growth · sell at horizon

5-year hold

• IRR: 1.1%
• Equity multiple: 1.05×
• Total profit: $2,120
• Equity at exit: $24,602

10-year hold

• IRR: 15.0%
• Equity multiple: 2.47×
• Total profit: $68,073
• Equity at exit: $14,266

Cash invested: $46,200 (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 46201

• Home prices YoY: -33.9%
• Rents YoY: 7.3%
• Active inventory: 483
• Price-to-rent: 12.0×

Monthly cashflow live

• Estimated rent: $1,989 high
• Mortgage (P&I): −$865
• Tax from tax record: −$327 /mo · $3,926/yr
• Insurance: −$69
• HOA: −$0
• Vacancy / Maint / Mgmt: −$418
• Net cashflow: $310

Break-even live

Break-even rent $1,596

Max offer price $165,000

Occupancy floor 79%

Sensitivity live

Price	-10% $404	-5% $357	+0% $310	+5% $263	+10% $217
Rent	-10% $153	-5% $232	+0% $310	+5% $389	+10% $467
Rate	-1.0pp $393	-0.5pp $352	base $310	+0.5pp $267	+1.0pp $224

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
1× unit	3	1	$1,142
1× unit	1	1	$848
Total (2 units)			$1,989

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: $41,250
• Closing costs: $4,950
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
916 N Tuxedo St Indianapolis, IN	3.0	1.0	1256	$1,195	$0.95	0d	1	0.04mi
909 N Lasalle St Indianapolis, IN	3.0	2.0	1717	$1,600	$0.93	46d	1	0.04mi
953 N Tuxedo St Indianapolis, IN	3.0	1.0	1200	$950	$0.79	25d	1	0.07mi
933 N Dearborn St Indianapolis, IN	3.0	1.5	1204	$1,500	$1.25	45d	1	0.09mi
840 N Lasalle St Indianapolis, IN	3.0	1.0	1215	$1,100	$0.91	25d	1	0.11mi
1018 N Tuxedo St Unit 1016 Indianapolis, IN	3.0	1.5	1250	$1,099	$0.88	0d	1	0.13mi
1018 N Tuxedo St Unit 1016 Indianapolis, IN	3.0	1.5	1250	$1,099	$0.88	45d	1	0.13mi
849 N Oakland Ave Indianapolis, IN	4.0	3.0	1638	$2,350	$1.43	13d	1	0.22mi
1015 N Gale St Indianapolis, IN	3.0	2.0	1200	$1,550	$1.29	16d	1	0.22mi
3101 E 10th St #301 Indianapolis, IN	2.0	1.0	921	$1,195	$1.30	45d	1	0.23mi
639 N Gray St Indianapolis, IN	3.0	1.5	1120	$1,220	$1.09	45d	1	0.23mi
637 N Gray St Indianapolis, IN	3.0	1.5	1120	$1,150	$1.03	46d	1	0.23mi
1119 N Dearborn St Indianapolis, IN	3.0	1.5	1200	$1,249	$1.04	45d	1	0.24mi
3030 E 10th St Indianapolis, IN	2.0	1.0	950	$900	$0.95	23d	1	0.25mi
632 N Gray St Indianapolis, IN	3.0	1.0	960	$1,800	$1.88	45d	1	0.25mi
818 N Oakland Ave Unit 46201 Indianapolis, IN	3.0	1.5	1332	$1,550	$1.16	45d	1	0.26mi
1038 N Parker Ave Indianapolis, IN	4.0	2.0	1342	$1,745	$1.30	5d	1	0.31mi
1036 N Parker Ave Indianapolis, IN	4.0	2.0	1342	$1,745	$1.30	5d	1	0.31mi
1216 N Oakland Ave Indianapolis, IN	3.0	2.0	1464	$1,550	$1.06	15d	1	0.34mi
1214 N Oakland Ave Indianapolis, IN	3.0	2.0	1464	$1,350	$0.92	15d	1	0.34mi
510 N Dearborn St Indianapolis, IN	3.0	1.0	1008	$1,350	$1.34	45d	1	0.36mi
645 N Oxford St Indianapolis, IN	4.0	1.5	1344	$1,500	$1.12	25d	1	0.37mi
1113 N Oxford St Indianapolis, IN	3.0	2.0	1100	$1,495	$1.36	9d	1	0.37mi
1323 N Olney St Indianapolis, IN	2.0	1.0	1288	$945	$0.73	45d	1	0.38mi
849 N Rural St Unit 849 Indianapolis, IN	3.0	2.5	1300	$2,000	$1.54	45d	1	0.39mi
851 N Rural St Indianapolis, IN	3.0	2.5	1300	$1,700	$1.31	25d	1	0.40mi
3123 E Michigan St Indianapolis, IN	2.0	1.0	1200	$625	$0.52	0d	1	0.40mi
852 N Rural St Indianapolis, IN	2.0	1.5	1528	$1,300	$0.85	25d	1	0.42mi
822 N Bradley Ave Unit 822 Indianapolis, IN	3.0	1.0	1100	$1,200	$1.09	45d	1	0.42mi
822 N Bradley Ave Unit 822 Indianapolis, IN	3.0	1.0	1100	$1,200	$1.09	0d	1	0.42mi
1341 N Gale St Indianapolis, IN	4.0	2.0	899	$2,000	$2.22	25d	1	0.43mi
639 N Rural St Indianapolis, IN	3.0	1.0	1000	$1,675	$1.68	19d	1	0.44mi
430 N Dearborn St Indianapolis, IN	3.0	1.0	1128	$1,300	$1.15	45d	1	0.45mi
619 N Rural St Indianapolis, IN	3.0	2.0	1300	$1,600	$1.23	25d	1	0.46mi
1112 N Rural St Unit 1110 Indianapolis, IN	2.0	1.5	1204	$1,150	$0.96	25d	1	0.46mi
960 Eastern Ave Indianapolis, IN	3.0	1.5	1616	$1,500	$0.93	45d	1	0.47mi
960 Eastern Ave Indianapolis, IN	3.0	1.5	1616	$1,500	$0.93	25d	1	0.47mi
515 N Oxford St Indianapolis, IN	2.0	1.5	1728	$1,050	$0.61	4d	1	0.48mi
603 N Sherman Dr Indianapolis, IN	3.0	1.0	1250	$1,300	$1.04	45d	1	0.48mi
2903 E Michigan St Indianapolis, IN	3.0	2.0	1310	$1,650	$1.26	16d	1	0.49mi

Listing history 22 events

1. 2026-06-21
   days on market $165,000 Active 58 DOM
2. 2026-06-18
   days on market $165,000 Active 55 DOM
3. 2026-06-17
   days on market $165,000 Active 54 DOM
4. 2026-06-16
   days on market $165,000 Active 53 DOM
5. 2026-06-15
   days on market $165,000 Active 52 DOM
6. 2026-06-13
   days on market $165,000 Active 50 DOM
7. 2026-06-13
   days on market $165,000 Active 49 DOM
8. 2026-06-09
   days on market $165,000 Active 46 DOM
9. 2026-06-08
   days on market $165,000 Active 45 DOM
10. 2026-06-07
    pricedays on market $165,000 Active 44 DOM
11. 2026-06-03
    days on market $175,000 Active 40 DOM
12. 2026-06-02
    days on market $175,000 Active 39 DOM
13. 2026-06-01
    days on market $175,000 Active 38 DOM
14. 2026-05-31
    days on market $175,000 Active 37 DOM
15. 2026-04-24
    listed $175,000 Active 806-char remark
16. 2025-03-24
    status Pending
17. 2025-03-24
    historical
18. 2025-03-10
    listed $225,000 Active
19. 2016-05-20
    historical
20. 2015-08-03
    listed $70,000 Active
21. 2010-10-13
    historical
22. 2010-04-12
    listed $34,400

ⓘ 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: $3,926 · $327/mo
• Projected year-2 tax: $3,926 · $327/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

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

Taxation est. · year 1

• Rental income: $23,868
• − Mortgage interest: −$9,243
• − Property taxes: −$3,926
• − Insurance: −$825
• − Repairs & maintenance: −$1,909
• − Management: −$1,909
• − Depreciation: −$4,800
• Taxable income: $1,256
• Est. tax owed @ 24.0%: −$301
• After-tax cash flow: $3,420/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): 30,335
• Household income: $49,195
• Rent vs Own: 48.4% rent · 51.6% own
• Severe rent burden: 1906.0

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 53% Hispanic / Latino 23% Black 18% Two or more races 9%
• Hispanic origin (detail): Mexican 14% Puerto Rican 2%
• Common ancestry: Slovak 2% Lithuanian 2% Italian 1%
• Foreign-born: 9% · Canada
• Languages at home: 81% English-only · Spanish 17%

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: ▼ -192.51%
• Current HPI: 375.0969
• Rent YoY: ▲ 7.31%
• 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

+379.7% since first listed

9 events — show timeline

• 2026-06-03 Price Changed $165,000 MIBOR as Distributed by MLS Grid
• 2026-04-24 Listed $175,000 MIBOR as Distributed by MLS Grid
• 2025-03-24 Pending — MIBOR as Distributed by MLS Grid
• 2025-03-24 Listing Removed — MIBOR as Distributed by MLS Grid
• 2025-03-10 Listed $225,000 MIBOR as Distributed by MLS Grid
• 2016-05-20 Listing Removed — MIBOR as Distributed by MLS Grid
• 2015-08-03 Listed $70,000 MIBOR as Distributed by MLS Grid
• 2010-10-13 Listing Removed — MIBOR as Distributed by MLS Grid
• 2010-04-12 Listed $34,400 MIBOR as Distributed by MLS Grid

Property tax history

+17.5%/yr

Latest (2024): $3,926 · +6.4% YoY. Source: county tax records.