3457 Graceland Ave · Indianapolis city (balance), IN 46208

$89,500

2 bd · 1.0 ba · 960 sqft · SingleFamily public records · 129 Days on market

Built 1930 4,487 sqft lot Est $134k · 33% under ↓ 23% 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 +26.5/30.0
• ARV discount +15.0/15.0
• DSCR +9.0/10.0
• 1% rule +7.7/10.0
• Rent growth +4.1/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.4/10.0
• Appreciation +0.0/10.0

Listing remarks

This 2-bedroom home in the Crown Hill neighborhood is full of character and ready for someone to bring it back to life. With 960 square feet and a traditional single-level layout, it offers a cozy feel and plenty of potential for the right buyer. Whether you're a first-time homeowner or an investor looking for a solid project, this property is worth a look. Built in 1930 with a wood exterior, the home features a functional floor plan with comfortable living space throughout. The detached 1-car garage is on the property but is in poor condition and will need attention. Located near parks, schools, and easy access to downtown, this home is a great opportunity in an established area.

Key facts

• Near schools
• Near parks
• Wood exterior

Tags

• CROWN HILL NEIGHBORHOOD
• WOOD EXTERIOR
• FUNCTIONAL FLOOR PLAN
• DETACHED GARAGE
• NEAR PARKS
• NEAR SCHOOLS

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $90k.

Deal economics

• At list price, monthly cash flow is $181 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $90k).
• Recommended offer: $79k (12.0% below list) — sets the bar for market timing.
• Cap rate 9.5% 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 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: 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); Arsenal Technical High School (math 6% / reading 27%, grade F, #353 of 369 statewide, top 96%, 2,366 students, 74% FRL).
• Market conditions: Rents rising fast (+6.4%/yr); 283 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); 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 $619 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.
• At projected returns (-3.0% appreciation + 6.4% rent growth), your $25k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 129 days — a 12% lower offer ($79k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: flood insurance adds $56/mo; built in 1930 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $78,760 (12.0% below list)

Questions for the listing agent

1. It's been on market 129 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 1930 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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.
7. 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.
8. 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: 1.27% ✓
• Cap rate: 9.46%
• Cash-on-cash: 11.31%
• DSCR: 1.50
• GRM: 6.5

CMA / ARV

• ARV (on-the-fly): $134,400
• Comps found: 4

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3630 Graceland Ave	0.21mi	3/1.0 (+1)	864 (-10%)	21mo	$162,500	$188	51
3035 Graceland Ave	0.54mi	3/2.0 (+1)	1,001 (+4%)	10mo	$140,000	$140	50
2949 Shriver Ave	0.67mi	3/1.0 (+1)	1,080 (+12%)	2mo	$138,000	$128	41
3017 Ethel Ave	0.66mi	3/1.5 (+1)	1,079 (+12%)	7mo	$90,000	$83	36

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 · 6.43% rent growth · sell at horizon

5-year hold

• IRR: 1.2%
• Equity multiple: 1.05×
• Total profit: $1,155
• Equity at exit: $13,345

10-year hold

• IRR: 14.3%
• Equity multiple: 2.36×
• Total profit: $34,082
• Equity at exit: $7,738

Cash invested: $25,060 (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 46208

• Rents YoY: 6.4%
• Active inventory: 283
• Price-to-rent: 6.5×

Monthly cashflow live

• Estimated rent: $1,141 high
• Mortgage (P&I): −$469
• Tax from tax record: −$159 /mo · $1,904/yr
• Insurance: −$37
• Flood insurance flood zone: −$56 /mo · $666/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$240
• Net cashflow: $181

Break-even live

Break-even rent $912

Max offer price $89,500

Occupancy floor 79%

Sensitivity live

Price	-10% $231	-5% $206	+0% $181	+5% $155	+10% $130
Rent	-10% $90	-5% $136	+0% $181	+5% $226	+10% $271
Rate	-1.0pp $226	-0.5pp $203	base $181	+0.5pp $157	+1.0pp $134

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: $22,375
• Closing costs: $2,685
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3469 Graceland Ave Indianapolis, IN	2.0	1.0	1000	$1,200	$1.20	45d	1	0.03mi
3502 N Kenwood Ave Indianapolis, IN	3.0	2.0	1094	$1,220	$1.12	45d	1	0.08mi
3413 N Capitol Ave Indianapolis, IN	3.0	1.0	588	$1,299	$2.21	25d	1	0.10mi
3501 N Illinois St Unit 3 Indianapolis, IN	2.0	2.0	1087	$1,350	$1.24	9d	1	0.17mi
3540 N Meridian St Indianapolis, IN	1.0	1.0	757	$789	$1.04	6d	3	0.26mi
3340 N Meridian St Unit 3340-305 Indianapolis, IN	1.0	1.0	650	$855	$1.32	25d	1	0.29mi
3340 N Meridian St Unit 3340-302 Indianapolis, IN	1.0	1.0	650	$855	$1.32	22d	1	0.30mi
3330 N Meridian St Unit 3330-306 Indianapolis, IN	1.0	1.0	650	$855	$1.32	22d	1	0.31mi
3310 N Meridian St Indianapolis, IN	1.0–2.0	1.0	750	$1,150	$1.53	45d	3	0.32mi
3541 N Meridian St Indianapolis, IN	1.0–2.0	1.0	987	$880	$0.89	45d	1	0.32mi
3640 N Meridian St Unit 01 Indianapolis, IN	3.0	1.0	1000	$999	$1.00	45d	1	0.33mi
3640 N Meridian St Unit 13 Indianapolis, IN	1.0	1.0	700	$699	$1.00	25d	1	0.33mi
3640 N Meridian St Unit 11 Indianapolis, IN	1.0	1.0	700	$699	$1.00	45d	1	0.33mi
3729 N Kenwood Ave Indianapolis, IN	2.0	1.0	1107	$1,100	$0.99	45d	1	0.35mi
3710 N Meridian St Indianapolis, IN	2.0	1.0–2.0	670	$969	$1.45	0d	33	0.35mi
3707 N Meridian St Indianapolis, IN	2.0	1.0–2.0	1042	$1,199	$1.15	45d	1	0.38mi
3524 N Pennsylvania St Indianapolis, IN	2.0	1.0	725	$872	$1.20	5d	4	0.38mi
3726 N Meridian St Apt 33 Indianapolis, IN	1.0	1.0	725	$750	$1.03	25d	1	0.39mi
3671 N Pennsylvania St Indianapolis, IN	2.0	1.0	725	$794	$1.10	22d	1	0.51mi
3554 N Washington Blvd Apt 2 Indianapolis, IN	1.0	1.0	800	$750	$0.94	45d	1	0.52mi
3558 Washington Blvd Indianapolis, IN	3.0	1.0	975	$1,199	$1.23	9d	1	0.52mi
3801 N Meridian St Indianapolis, IN	1.0–3.0	1.0–2.0	1057	$1,474	$1.39	22d	35	0.53mi
57 E 38th St Indianapolis, IN	1.0	1.0	750	$770	$1.03	4d	4	0.54mi
3017 Ethel Ave Indianapolis, IN	3.0	1.5	1079	$1,400	$1.30	25d	1	0.68mi
2937 N Kenwood Ave Unit A Indianapolis, IN	1.0	1.0	672	$889	$1.32	24d	1	0.68mi
2937 Shriver Ave Indianapolis, IN	1.0	1.0	564	$850	$1.51	45d	1	0.69mi
3815 Washington Blvd Indianapolis, IN	2.0	1.0	1000	$1,250	$1.25	9d	1	0.71mi
4031 Boulevard Pl Indianapolis, IN	1.0	1.0	700	$895	$1.28	22d	1	0.71mi
3924 Byram Ave Indianapolis, IN	1.0	1.0	810	$1,099	$1.36	6d	1	0.73mi
3836 Central Ave Indianapolis, IN	1.0	1.0	600	$1,125	$1.88	25d	1	0.80mi
2818 N Capitol Ave Apt 1 Indianapolis, IN	1.0	1.0	600	$2,000	$3.33	45d	1	0.82mi
538 W 29th St Unit B Indianapolis, IN	3.0	1.0	1031	$1,349	$1.31	0d	1	0.83mi
608 Bernard Ave Indianapolis, IN	3.0	2.0	1056	$1,475	$1.40	5d	1	0.84mi
4023 Clarendon Rd Indianapolis, IN	1.0	1.0	572	$950	$1.66	45d	1	0.84mi
2808 N Capitol Ave Indianapolis, IN	2.0	1.0	900	$975	$1.08	25d	1	0.84mi
541 W 29th St Indianapolis, IN	1.0	1.0	740	$900	$1.22	22d	1	0.85mi
926 W 32nd St Indianapolis, IN	3.0	2.0	1050	$1,295	$1.23	9d	1	0.86mi
1 W 28th St Indianapolis, IN	1.0	1.0	656	$970	$1.48	5d	15	0.91mi
516 W 28th St Indianapolis, IN	2.0	1.0	1005	$1,100	$1.09	25d	1	0.92mi
4210 Graceland Ave Indianapolis, IN	1.0	1.0	676	$900	$1.33	24d	1	0.93mi

Listing history 6 events

1. 2026-03-16
   status Pending
2. 2026-02-23
   price $89,500
3. 2026-01-16
   price $95,500
4. 2025-12-23
   price $100,500
5. 2025-11-25
   price $105,500
6. 2025-11-07
   listed $115,500 Active

ⓘ 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: $1,904 · $159/mo
• Projected year-2 tax: $1,904 · $159/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 7/10 Severe FEMA zone X (unshaded) · 76% 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: $13,693
• − Mortgage interest: −$5,013
• − Property taxes: −$1,904
• − Insurance: −$1,114
• − Repairs & maintenance: −$1,095
• − Management: −$1,095
• − Depreciation: −$2,604
• Taxable income: $867
• Est. tax owed @ 24.0%: −$208
• After-tax cash flow: $1,959/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): 22,379
• Household income: $60,062
• Rent vs Own: 44.1% rent · 55.9% own
• Severe rent burden: 978.0

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: White 46% Black 40% Hispanic / Latino 8% Two or more races 6% Asian 2%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Romanian 2% Slovak 2% Italian 1%
• Foreign-born: 4% · Canada
• Languages at home: 93% English-only · Spanish 5% French/Haitian/Cajun 1% Other Indo-European 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: ▼ -324.63%
• Current HPI: 319.7725
• Rent YoY: ▲ 6.43%
• 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

-22.5% since first listed

6 events — show timeline

• 2026-03-16 Pending — MIBOR as Distributed by MLS Grid
• 2026-02-23 Price Changed $89,500 MIBOR as Distributed by MLS Grid
• 2026-01-16 Price Changed $95,500 MIBOR as Distributed by MLS Grid
• 2025-12-23 Price Changed $100,500 MIBOR as Distributed by MLS Grid
• 2025-11-25 Price Changed $105,500 MIBOR as Distributed by MLS Grid
• 2025-11-07 Listed $115,500 MIBOR as Distributed by MLS Grid

Property tax history

+8.3%/yr

Latest (2025): $1,904 · +6.2% YoY. Source: county tax records.