915 N Meridian St · Marion, IN 46952

$50,000

2 bd · 1.0 ba · 784 sqft · SingleFamily public records · 24 Days on market

Built 1959 Est $74k · 32% under

---

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 +30.0/30.0
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.7/10.0
• Appreciation +0.0/10.0

Listing remarks

This 784 square foot single family home has 2 bedrooms and 1.0 bathrooms. This home is located at 915 N Meridian St, Marion, IN 46952.

Key facts

• Built 1959
• Listed 23 days

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $50k.

Deal economics

• At list price, monthly cash flow is $251 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($768 rent vs $50k).
• Recommended offer: $49k (1.5% below list) — sets the bar for market timing.
• Cap rate 12.3% vs local median 8.7% in Marion — 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 65/100 on livability (#337 in IN) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: schools F, amenities F, commute F.
• Marion Community Schools (town): math 18% / reading 24% proficiency, ranked #277 of 301 in IN (top 92%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 67% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 124 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 52 units permitted in Grant County in 2024 (8 in 5+ unit buildings).
• This rent is only 17% of the median local income ($53k/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 $346 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Grant County population projected at -18% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $14k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 24 days — a 2% lower offer ($49k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1959 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $49,250 (1.5% below list)

Questions for the listing agent

1. Built in 1959 — 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. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
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: 1.54% ✓
• Cap rate: 12.31%
• Cash-on-cash: 21.49%
• DSCR: 1.96
• GRM: 5.4

CMA / ARV

• ARV (on-the-fly): $73,696
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
416 E Bradford St	0.37mi	2/1.0	816 (+4%)	1mo	$76,200	$93	75
1008 N Quarry Rd	0.54mi	2/1.0	768 (-2%)	1mo	$116,500	$152	71
1126 N Meridian St	0.23mi	2/1.0	724 (-8%)	9mo	$40,000	$55	69
914 N Branson St	0.08mi	2/1.0	672 (-14%)	10mo	$26,500	$39	64
612 E Bradford St	0.45mi	2/1.0	825 (+5%)	10mo	$49,900	$60	62
214 W Wharton Dr	0.38mi	2/1.0	864 (+10%)	5mo	$130,000	$150	62
609 E Wiley St	0.30mi	3/1.0 (+1)	864 (+10%)	8mo	$94,000	$109	57
211 E Sherman St	0.50mi	2/1.0	690 (-12%)	5mo	$11,000	$16	52
716 W Wharton Dr	0.64mi	3/1.0 (+1)	864 (+10%)	8mo	$99,900	$116	41
334 N Boots St	0.57mi	3/2.0 (+1)	728 (-7%)	14mo	$65,000	$89	41
832 E Sherman St	0.75mi	3/1.0 (+1)	848 (+8%)	10mo	$80,000	$94	39
713 W Wharton Dr	0.62mi	3/1.0 (+1)	864 (+10%)	13mo	$139,900	$162	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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 14.1%
• Equity multiple: 1.56×
• Total profit: $7,883
• Equity at exit: $7,455

10-year hold

• IRR: 22.9%
• Equity multiple: 2.96×
• Total profit: $27,497
• Equity at exit: $4,323

Cash invested: $14,000 (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 46952

• Home prices YoY: -29.9%
• Active inventory: 124
• Price-to-rent: 5.4×

Monthly cashflow live

• Estimated rent: $768 medium
• Mortgage (P&I): −$262
• Tax from tax record: −$73 /mo · $880/yr
• Insurance: −$21
• HOA: −$0
• Vacancy / Maint / Mgmt: −$161
• Net cashflow: $251

Break-even live

Break-even rent $451

Max offer price $50,000

Occupancy floor 62%

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: $12,500
• Closing costs: $1,500
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
805 N Washington St Unit 10 Marion, IN	1.0	1.0	600	$575	$0.96	44d	1	0.28mi
715 E Sherman St Marion, IN	2.0	1.0	1085	$1,050	$0.97	44d	1	0.67mi

Listing history 15 events

1. 2026-06-19
   days on market $50,000 Active 24 DOM
2. 2026-06-18
   days on market $50,000 Active 23 DOM
3. 2026-06-17
   days on market $50,000 Active 22 DOM
4. 2026-06-16
   days on market $50,000 Active 21 DOM
5. 2026-06-15
   days on market $50,000 Active 20 DOM
6. 2026-06-14
   days on market $50,000 Active 18 DOM
7. 2026-06-12
   days on market $50,000 Active 17 DOM
8. 2026-06-09
   days on market $50,000 Active 14 DOM
9. 2026-06-08
   days on market $50,000 Active 13 DOM
10. 2026-06-07
    days on market $50,000 Active 12 DOM
11. 2026-06-02
    days on market $50,000 Active 7 DOM
12. 2026-06-01
    days on market $50,000 Active 6 DOM
13. 2026-05-31
    days on market $50,000 Active 5 DOM
14. 2026-05-30
    days on market $50,000 Active 4 DOM
15. 2026-05-26
    listed $50,000 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: $880 · $73/mo
• Projected year-2 tax: $880 · $73/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 3/10 Moderate 7 d/yr ≥101°F today · 18 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $9,221
• − Mortgage interest: −$2,801
• − Property taxes: −$880
• − Insurance: −$250
• − Repairs & maintenance: −$738
• − Management: −$738
• − Depreciation: −$1,455
• Taxable income: $2,360
• Est. tax owed @ 24.0%: −$567
• After-tax cash flow: $2,442/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: Marion Community Schools
• NCES district ID: 1806390
• Math proficiency: 18% ▼ -9.00%
• Reading proficiency: 24% ▼ -6.00%
• Median HH income: $33,415
• Composite: 17.13/100
• National rank: #9115
• State rank: #277 of 301 in IN

Livability — Marion

• Score: 65/100
• State rank: #337
• US rank: #13006

Category grades

Amenities F Commute F Cost of living A+ Crime A+ Employment F Housing A+ Health & safety D- User ratings C+

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Marion, IN
• County: Grant County · 41,561 people
• City population: 41,561
• Metro: Marion, IN
• Population (ZIP): 18,189
• Household income: $52,880
• Rent vs Own: 31.5% rent · 68.5% own
• Severe rent burden: 662.0

Population outlook (Grant County) Hauer SSP2

• Today (2025): 64,394 people
• By 2030: 62,145 · -3.5%
• By 2040: 57,252 · -11.1%
• By 2050: 52,968 · -17.7%
• By 2075: 45,986 · -28.6%
• By 2100: 39,400 · -38.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (84%)
• Race & ethnicity: White 84% Two or more races 7% Hispanic / Latino 5% Black 4% Asian 1%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Italian 3% Romanian 1% Iranian 1%
• Foreign-born: 4% · Canada
• Languages at home: 96% English-only · Spanish 3%

Political lean MEDSL · Grant

• 2024 margin: Solid R (+41.8) · D 28.2% · R 70.0% · Other 1.9%
• 2008→2024 swing: -28.7pp toward R · 2008: -13.1pp · 2024: -41.8pp
• All cycles: 2024: R+41.8 2020: R+38.8 2016: R+39.5 2012: R+22.0 2008: R+13.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -76.69%
• Current HPI: 180.1174
• Rent YoY: —
• Metro: Marion, 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

• 2026-05-26 Listed $50,000 FSBO.com

Property tax history

+16.3%/yr

Latest (2025): $880 · +66.7% YoY. Source: county tax records.