1016 Dawson St · Indianapolis city (balance), IN 46203

$144,900

3 bd · 2.0 ba · 1,156 sqft · SingleFamily public records · 474 Days on market

Built 1900 Excellent condition 3,180 sqft lot $125/sqft · 36% below area Est $226k · 36% under ↓ 24% since listing

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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 +24.6/30.0
• ARV discount +15.0/15.0
• DSCR +7.9/10.0
• 1% rule +6.3/10.0
• Condition / age +4.8/5.0
• Rent growth +3.2/5.0
• Livability +2.5/5.0
• Schools +1.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

**INVESTOR FLIP POTENTIAL** Take advantage of extra strong values in this Fountain Square fixer. You can continue what was started to realize potential gains or renovate for cash flows. Unlimited potential due to location and neighboring homes. Bring your contractor with you as current condition is in framing stage. There is room to build a garage for even higher values in this area. New owner will need to apply for permits through Marion County.

Key facts

• Apply for permits
• Room to build garage
• 3,180 sq ft lot

Tags

• INVESTOR FLIP POTENTIAL
• FOUNTAIN SQUARE FIXER
• ROOM TO BUILD GARAGE
• APPLY FOR PERMITS

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $145k. Condition is rated excellent.

Deal economics

• At list price, monthly cash flow is $299 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $145k).
• Recommended offer: $128k (12.0% below list) — sets the bar for market timing.
• Cap rate 8.8% vs local median 4.5% 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.
• 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 (+2.9%/yr); 638 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals lingering (median 47d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 65% 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 runs 34% of the median local income ($57k/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 $4k 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 474 days — a 12% lower offer ($128k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 2y ago; this cycle's ask has dropped $55k (28%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $127,512 (12.0% below list)

Questions for the listing agent

1. It's been on market 474 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 1.13% ✓
• Cap rate: 8.77%
• Cash-on-cash: 8.86%
• DSCR: 1.39
• GRM: 7.3

CMA / ARV

• ARV (median comp): $225,831
• List price: $144,900
• Delta: -35.84%
• 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
1430 St Paul St	0.51mi	2/1.0 (-1)	1,170 (+1%)	0mo	$139,900	$120	65
2134 Spann Ave	0.45mi	3/1.0	1,085 (-6%)	3mo	$125,000	$115	62
1016 Lexington Ave	0.59mi	2/1.0 (-1)	1,177 (+2%)	2mo	$245,000	$208	59
1031 Saint Paul St	0.34mi	4/1.5 (+1)	1,290 (+12%)	0mo	$175,000	$136	57
1234 E Pleasant Run Parkway North Dr	0.64mi	2/2.0 (-1)	1,115 (-4%)	3mo	$215,000	$193	57
1524 Pleasant St	0.19mi	2/1.0 (-1)	995 (-14%)	3mo	$125,000	$126	56
714 S Keystone Ave	0.52mi	2/1.0 (-1)	1,223 (+6%)	3mo	$172,900	$141	54
1533 Linden St	0.61mi	3/1.0	1,064 (-8%)	0mo	$244,900	$230	54
1502 Spann Ave	0.42mi	4/1.5 (+1)	1,288 (+11%)	4mo	$235,000	$182	51
1418 St Paul St	0.50mi	3/1.0	1,000 (-14%)	3mo	$170,000	$170	48
1515 Southeastern Ave	0.74mi	2/1.0 (-1)	1,222 (+6%)	2mo	$58,300	$48	46
1735 Thaddeus St	0.70mi	4/2.0 (+1)	1,296 (+12%)	4mo	$105,000	$81	38

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 · 2.88% rent growth · sell at horizon

5-year hold

• IRR: -3.0%
• Equity multiple: 0.89×
• Total profit: $-4,580
• Equity at exit: $21,605

10-year hold

• IRR: 6.6%
• Equity multiple: 1.49×
• Total profit: $19,858
• Equity at exit: $12,528

Cash invested: $40,572 (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 →

Buyer's market Market conditions within 1.0 mi — comparable homes for sale

Active competition Active MLS

• For sale now: 43 active · 16 under contract
• Months of supply: 9.2 mo (11%/mo absorbed)
• Median asking: $199,900 ($169/sqft)
• Median days on market: 69 d
• This list price: 23% of active listings are priced below it
• ARV vs active asking: +15.3% above current asking $/sqft

Closed sales set the value; these active listings set current market conditions and a practical price ceiling.

ZIP-level market 46203

• Home prices YoY: -26.7%
• Rents YoY: 2.9%
• Active inventory: 638
• Price-to-rent: 7.3×

Monthly cashflow live

• Estimated rent: $1,644 high
• Mortgage (P&I): −$760
• Tax from tax record: −$179 /mo · $2,149/yr
• Insurance: −$60
• HOA: −$0
• Vacancy / Maint / Mgmt: −$345
• Net cashflow: $299

Break-even live

Break-even rent $1,265

Max offer price $144,900

Occupancy floor 77%

Sensitivity live

Price	-10% $382	-5% $341	+0% $299	+5% $258	+10% $217
Rent	-10% $170	-5% $235	+0% $299	+5% $364	+10% $429
Rate	-1.0pp $372	-0.5pp $336	base $299	+0.5pp $262	+1.0pp $224

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: $36,225
• Closing costs: $4,347
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1015 S Randolph St Indianapolis, IN	3.0	2.0	1025	$2,200	$2.15	37d	1	0.11mi
1019 S Randolph St Indianapolis, IN	3.0	1.5	1100	$1,550	$1.41	21d	1	0.11mi
1053 Villa Ave Indianapolis, IN	3.0	1.5	1281	$1,300	$1.01	35d	1	0.18mi
1502 Woodlawn Ave Indianapolis, IN	2.0	2.0	1441	$2,300	$1.60	42d	1	0.19mi
1527 Prospect St Indianapolis, IN	3.0	1.5	1150	$1,200	$1.04	72d	1	0.20mi
1011 Harlan St Indianapolis, IN	2.0	2.0	1008	$1,525	$1.51	92d	1	0.23mi
1013 Harlan St Indianapolis, IN	2.0	1.0	1008	$1,475	$1.46	92d	1	0.23mi
2116 Woodlawn Ave Indianapolis, IN	2.0	2.0	1054	$1,175	$1.11	56d	1	0.24mi
1441 Prospect St Indianapolis, IN	2.0	1.0–2.0	2840	$1,893	$0.67	9d	15	0.26mi
2218 Pleasant St Indianapolis, IN	3.0	2.0	1376	$2,499	$1.82	72d	1	0.33mi
1130 Churchman Ave Indianapolis, IN	2.0	1.5	1300	$1,099	$0.85	13d	1	0.33mi
2230 Woodlawn Ave Indianapolis, IN	2.0	1.0	924	$1,350	$1.46	92d	1	0.33mi
1449 Fletcher Ave Indianapolis, IN	2.0	2.0	1000	$2,000	$2.00	66d	1	0.34mi
1123 Churchman Ave Indianapolis, IN	3.0	1.5	1472	$1,360	$0.92	63d	1	0.35mi
518 S State Ave Indianapolis, IN	2.0	1.0	900	$725	$0.81	92d	1	0.36mi
512 S State Ave Unit 512 Indianapolis, IN	3.0	1.0	1200	$1,300	$1.08	17d	1	0.37mi
1330 Lexington Ave Indianapolis, IN	2.0	2.0	906	$1,900	$2.10	17d	1	0.37mi
1224 Prospect St Indianapolis, IN	2.0	1.0–2.0	691	$2,049	$2.96	9d	11	0.40mi
909 Saint Peter St Indianapolis, IN	3.0	2.0	1200	$1,800	$1.50	92d	1	0.42mi
911 Saint Peter St Indianapolis, IN	3.0	2.0	1200	$1,650	$1.38	17d	1	0.42mi
1015 Olive St Indianapolis, IN	3.0	1.0	1200	$1,975	$1.65	42d	1	0.42mi
1512 English Ave Indianapolis, IN	3.0	2.0	1416	$1,650	$1.17	53d	1	0.45mi
1503 Dawson St Indianapolis, IN	2.0	1.0	700	$1,200	$1.71	92d	1	0.46mi
420 Harlan St Indianapolis, IN	2.0	2.0	1260	$1,500	$1.19	72d	1	0.47mi
1142 S Keystone Ave Indianapolis, IN	3.0	1.0	1056	$1,650	$1.56	47d	1	0.49mi
420 Hamilton Ave Unit B Indianapolis, IN	3.0	2.0	1350	$1,700	$1.26	9d	1	0.50mi
420 Hamilton Ave Unit B Indianapolis, IN	3.0	2.0	1350	$1,450	$1.07	59d	1	0.50mi
420 Hamilton Ave Unit A Indianapolis, IN	3.0	2.0	1350	$1,550	$1.15	92d	1	0.50mi
2217 Terrace Ave Indianapolis, IN	2.0	1.5	1092	$1,250	$1.14	13d	1	0.50mi
1112 Pleasant St Unit 2 Indianapolis, IN	2.0	2.0	1000	$1,650	$1.65	29d	1	0.50mi
1534 Dawson St Indianapolis, IN	3.0	1.0	1040	$1,450	$1.39	27d	1	0.51mi
1534 Dawson St Indianapolis, IN	3.0	1.0	1040	$1,499	$1.44	72d	1	0.51mi
2320 Spann Ave Indianapolis, IN	2.0	2.0	1219	$1,575	$1.29	17d	1	0.51mi
2320 Spann Ave Indianapolis, IN	2.0	2.0	1219	$1,675	$1.37	47d	1	0.51mi
2320 Spann Ave Indianapolis, IN	2.0	2.0	1219	$1,625	$1.33	28d	1	0.51mi
1536 Dawson St Indianapolis, IN	2.0	1.0	816	$1,500	$1.84	11d	1	0.52mi
1148 Fletcher Ave Indianapolis, IN	2.0	1.0	900	$1,800	$2.00	66d	1	0.53mi
1620 E Palmer St Indianapolis, IN	2.0	1.0	824	$1,200	$1.46	72d	1	0.53mi
1543 S State Ave Indianapolis, IN	2.0	1.0	1086	$995	$0.92	42d	1	0.53mi
1602 Quill St Unit B Indianapolis, IN	3.0	2.0	1250	$1,499	$1.20	34d	1	0.55mi

Listing history 50 events

1. 2026-08-08
   days on market $144,900 Active 474 DOM
2. 2026-08-07
   days on market $144,900 Active 473 DOM
3. 2026-08-06
   days on market $144,900 Active 472 DOM
4. 2026-08-05
   days on market $144,900 Active 471 DOM
5. 2026-08-04
   days on market $144,900 Active 470 DOM
6. 2026-08-03
   pricedays on market $144,900 Active 469 DOM
7. 2026-07-31
   days on market $149,900 Active 466 DOM
8. 2026-07-30
   days on market $149,900 Active 465 DOM
9. 2026-07-30
   days on market $149,900 Active 464 DOM
10. 2026-07-28
    days on market $149,900 Active 463 DOM
11. 2026-07-26
    days on market $149,900 Active 461 DOM
12. 2026-07-24
    days on market $149,900 Active 459 DOM
13. 2026-07-23
    days on market $149,900 Active 458 DOM
14. 2026-07-22
    days on market $149,900 Active 457 DOM
15. 2026-07-21
    days on market $149,900 Active 456 DOM
16. 2026-07-20
    days on market $149,900 Active 455 DOM
17. 2026-07-18
    days on market $149,900 Active 453 DOM
18. 2026-07-18
    days on market $149,900 Active 452 DOM
19. 2026-07-16
    days on market $149,900 Active 451 DOM
20. 2026-07-15
    days on market $149,900 Active 450 DOM
21. 2026-07-14
    days on market $149,900 Active 449 DOM
22. 2026-07-13
    days on market $149,900 Active 448 DOM
23. 2026-07-13
    days on market $149,900 Active 447 DOM
24. 2026-07-11
    days on market $149,900 Active 446 DOM
25. 2026-07-10
    days on market $149,900 Active 445 DOM
26. 2026-07-09
    days on market $149,900 Active 444 DOM
27. 2026-07-07
    price $149,900 Active 442 DOM
28. 2026-07-07
    days on market $154,900 Active 442 DOM
29. 2026-07-06
    days on market $154,900 Active 441 DOM
30. 2026-07-05
    days on market $154,900 Active 440 DOM
31. 2026-07-03
    days on market $154,900 Active 438 DOM
32. 2026-07-02
    days on market $154,900 Active 437 DOM
33. 2026-07-01
    days on market $154,900 Active 436 DOM
34. 2026-06-30
    days on market $154,900 Active 435 DOM
35. 2026-06-29
    days on market $154,900 Active 434 DOM
36. 2026-06-28
    days on market $154,900 Active 433 DOM
37. 2026-06-27
    days on market $154,900 Active 432 DOM
38. 2026-06-26
    days on market $154,900 Active 431 DOM
39. 2026-06-25
    days on market $154,900 Active 429 DOM
40. 2026-06-22
    days on market $154,900 Active 427 DOM
41. 2026-06-21
    days on market $154,900 Active 426 DOM
42. 2026-06-18
    days on market $154,900 Active 423 DOM
43. 2026-06-17
    days on market $154,900 Active 422 DOM
44. 2026-06-16
    days on market $154,900 Active 421 DOM
45. 2026-06-15
    days on market $154,900 Active 420 DOM
46. 2026-06-13
    days on market $154,900 Active 418 DOM
47. 2026-06-13
    days on market $154,900 Active 417 DOM
48. 2026-06-09
    days on market $154,900 Active 414 DOM
49. 2026-06-08
    days on market $154,900 Active 413 DOM
50. 2026-06-07
    days on market $154,900 Active 412 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: $2,149 · $179/mo
• Projected year-2 tax: $2,149 · $179/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 4/10 Moderate 7 d/yr ≥101°F today · 19 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: $19,729
• − Mortgage interest: −$8,117
• − Property taxes: −$2,149
• − Insurance: −$724
• − Repairs & maintenance: −$1,578
• − Management: −$1,578
• − Depreciation: −$4,215
• Taxable income: $1,367
• Est. tax owed @ 24.0%: −$328
• After-tax cash flow: $3,266/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.

Condition & rehab AI · 13 photos

Excellent 95/100 None rehab

This property is in excellent condition with a good exterior and interior framing. It is ready for painting and flooring to be completed for a move-in-ready state.

Value-add opportunities

• Both Paint the interior walls and trim — Painting the interior will enhance the appearance and make the space more inviting for both buyers and renters. ↑
• Both Install flooring — Installing flooring will complete the interior and make the space move-in ready for both buyers and renters. ↑

F Composite school gradezoned avg 13/100

Zoned Schools

Elementary William Mckinley School 39 F IN #829/994 Nat'l #34,564/41,679 Middle Hw Longfellow Med/stem Magnet Midl F IN #319/330 Nat'l #13,619/14,009

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 · 1,025,572 people
• City population: 881,119
• Metro: Indianapolis-Carmel-Anderson, IN
• Population (ZIP): 37,758
• Household income: $57,393
• Rent vs Own: 42.2% rent · 57.8% own
• Severe rent burden: 10% of renters

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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%

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Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (69%)
• Race & ethnicity: White 69% Hispanic / Latino 14% Black 12% Two or more races 8% Asian 2% Native American 1%
• Hispanic origin (detail): Mexican 12% Puerto Rican 1%
• Common ancestry: Slovak 2% Lithuanian 2% Italian 1%
• Foreign-born: 8% · Canada
• Languages at home: 88% English-only · Spanish 10% Other Indo-European 1%

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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: ▼ -127.37%
• Current HPI: 349.579
• Rent YoY: ▲ 2.88%
• Metro: Indianapolis-Carmel-Anderson, IN
• State GDP YoY: ▲ 2.90%
• F500 in state: 18

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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

-23.8% since first listed

14 events — show timeline

• 2026-05-01 Price Changed $159,900 MIBOR as Distributed by MLS Grid
• 2026-03-31 Price Changed $164,900 MIBOR as Distributed by MLS Grid
• 2026-02-12 Price Changed $169,900 MIBOR as Distributed by MLS Grid
• 2026-01-05 Price Changed $172,400 MIBOR as Distributed by MLS Grid
• 2025-12-01 Price Changed $174,900 MIBOR as Distributed by MLS Grid
• 2025-10-28 Price Changed $177,400 MIBOR as Distributed by MLS Grid
• 2025-08-24 Price Changed $179,900 MIBOR as Distributed by MLS Grid
• 2025-07-22 Price Changed $184,900 MIBOR as Distributed by MLS Grid
• 2025-06-19 Price Changed $194,900 MIBOR as Distributed by MLS Grid
• 2025-04-21 Listed $199,900 MIBOR as Distributed by MLS Grid
• 2024-07-16 Pending — MIBOR as Distributed by MLS Grid
• 2024-07-15 Listing Removed — MIBOR as Distributed by MLS Grid
• 2024-06-13 Price Changed $195,000 MIBOR as Distributed by MLS Grid
• 2024-05-07 Listed $209,900 MIBOR as Distributed by MLS Grid

Property tax history

+7.8%/yr

Latest (2025): $2,149 · +7.8% YoY. Source: county tax records.