3912 Terrace Ave · Indianapolis city (balance), IN 46203

$130,000

3 bd · 1.0 ba · 750 sqft · SingleFamily public records · 160 Days on market

Built 1930 7,275 sqft lot $173/sqft · 5% below area Est $137k · 5% 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 +18.1/30.0
• ARV discount +9.8/15.0
• DSCR +5.7/10.0
• 1% rule +5.6/10.0
• 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 MLS

This 3-bedroom, 1-bath home is currently rented for $1,000 a month and delivers consistent income in a convenient southside location. Just minutes from downtown Indianapolis, it offers easy access to shopping, highways, and public transit. The layout is efficient and tenant-friendly, with room for future updates if desired. A great addition to any rental portfolio.

Key facts

• Southside location
• Efficient layout
• 7,275 sq ft lot

Tags

• SOUTHSIDE LOCATION
• EASY ACCESS TO SHOPPING
• EASY ACCESS TO HIGHWAYS
• EASY ACCESS TO PUBLIC TRANSIT
• EFFICIENT LAYOUT

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $130k.

Deal economics

• At list price, monthly cash flow is $113 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $130k).
• Recommended offer: $114k (12.0% below list) — sets the bar for market timing.
• Cap rate 7.3% 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 (+2.9%/yr); 493 active listings in the ZIP; 35 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 49% 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).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $899 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 160 days — a 12% lower offer ($114k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 9y ago; this cycle's ask has dropped $10k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $21k; list at $130k implies a 525% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1930 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $114,400 (12.0% below list)

Questions for the listing agent

1. It's been on market 160 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. 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. 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?
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: 1.06% ✓
• Cap rate: 7.34%
• Cash-on-cash: 3.73%
• DSCR: 1.17
• GRM: 7.8

CMA / ARV

• ARV (median comp): $136,907
• List price: $130,000
• Delta: -5.05%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1214 S Chester Ave	0.08mi	2/1.0 (-1)	796 (+6%)	0mo	$124,000	$156	81
1323 S Ewing St	0.28mi	2/1.0 (-1)	768 (+2%)	7mo	$147,000	$191	72
3562 E Morris St	0.35mi	2/2.0 (-1)	742 (-1%)	2mo	$165,000	$222	71
1128 S Denny St	0.17mi	2/1.0 (-1)	720 (-4%)	20mo	$70,000	$97	63
4721 E Morris St	0.57mi	2/1.0 (-1)	840 (+12%)	9mo	$165,000	$196	41
4841 E Terrace Ave	0.68mi	2/1.0 (-1)	780 (+4%)	20mo	$150,000	$192	40

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: -10.5%
• Equity multiple: 0.62×
• Total profit: $-13,956
• Equity at exit: $19,383

10-year hold

• IRR: -1.3%
• Equity multiple: 0.91×
• Total profit: $-3,272
• Equity at exit: $11,240

Cash invested: $36,400 (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 46203

• Home prices YoY: -26.7%
• Rents YoY: 2.9%
• Active inventory: 493
• Price-to-rent: 7.8×

Monthly cashflow live

• Estimated rent: $1,381 high
• Mortgage (P&I): −$682
• Tax from tax record: −$242 /mo · $2,906/yr
• Insurance: −$54
• HOA: −$0
• Vacancy / Maint / Mgmt: −$290
• Net cashflow: $113

Break-even live

Break-even rent $1,238

Max offer price $130,000

Occupancy floor 87%

Sensitivity live

Price	-10% $187	-5% $150	+0% $113	+5% $76	+10% $40
Rent	-10% $4	-5% $59	+0% $113	+5% $168	+10% $222
Rate	-1.0pp $179	-0.5pp $146	base $113	+0.5pp $79	+1.0pp $45

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: $32,500
• Closing costs: $3,900
• Reserves months: —
• Total cash needed: —

Rent comps 35 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3518 Terrace Ave Indianapolis, IN	3.0	1.0	864	$1,300	$1.50	44d	1	0.37mi
3441 Prospect St Indianapolis, IN	2.0	1.0	1008	$1,500	$1.49	24d	1	0.56mi
3441 Prospect St Indianapolis, IN	2.0	1.0	1008	$1,700	$1.69	45d	1	0.56mi
3906 Hoyt Ave Indianapolis, IN	2.0	1.0	912	$1,250	$1.37	8d	1	0.59mi
3706 Hoyt Ave Indianapolis, IN	3.0	1.0	960	$1,500	$1.56	14d	1	0.63mi
3702 Hoyt Ave Indianapolis, IN	3.0	2.0	960	$1,500	$1.56	14d	1	0.63mi
3012 E Minnesota St Indianapolis, IN	2.0	1.0	767	$1,000	$1.30	24d	1	0.75mi
3012 E Minnesota St Indianapolis, IN	2.0	1.0	875	$1,000	$1.14	44d	1	0.75mi
1730 Perkins Ave Indianapolis, IN	3.0	1.0	924	$1,300	$1.41	24d	1	0.76mi
750 S Dequincy St Indianapolis, IN	3.0	1.5	936	$1,500	$1.60	44d	1	0.84mi
528 S Bosart Ave Indianapolis, IN	3.0	1.0	720	$1,305	$1.81	44d	1	0.89mi
5056 Emerton Pl Unit 5056 Indianapolis, IN	2.0	1.0	868	$1,245	$1.43	24d	1	0.91mi
5056 Emerton Pl Unit 5046 Indianapolis, IN	2.0	1.5	1039	$1,245	$1.20	24d	1	0.91mi
1505 S Rural St Indianapolis, IN	3.0	1.0	1104	$1,500	$1.36	13d	1	0.92mi
5010 Emerton Pl Indianapolis, IN	2.0	1.5	1002	$1,095	$1.09	44d	1	0.93mi
3022 English Ave Unit 3022 Indianapolis, IN	2.0	1.0	600	$650	$1.08	44d	1	1.07mi
340 S Dearborn St Indianapolis, IN	2.0	1.0	873	$1,180	$1.35	24d	1	1.11mi
270 S Lasalle St Indianapolis, IN	3.0	2.0	562	$1,329	$2.36	8d	1	1.16mi
301 S Gray St Indianapolis, IN	2.0	1.0	841	$1,025	$1.22	24d	1	1.19mi
350 S Oxford St Indianapolis, IN	3.0	1.0	826	$1,300	$1.57	44d	1	1.25mi
2631 Southeastern Ave Indianapolis, IN	3.0	2.0	1072	$1,195	$1.11	12d	1	1.26mi
4919 Orion Ave Indianapolis, IN	2.0	1.0	766	$875	$1.14	44d	1	1.27mi
330 S Rural St Indianapolis, IN	2.0	1.0	960	$1,050	$1.09	8d	1	1.30mi
323 S Rural St Indianapolis, IN	3.0	1.5	1090	$1,050	$0.96	44d	1	1.30mi
5131 E Burgess Ave Indianapolis, IN	2.0	1.0	816	$1,100	$1.35	44d	1	1.34mi
2230 Woodlawn Ave Indianapolis, IN	2.0	1.0	924	$1,350	$1.46	44d	1	1.37mi
37 S Tuxedo St Indianapolis, IN	3.0	1.0	950	$1,150	$1.21	44d	1	1.38mi
2430 E Kelly St Indianapolis, IN	2.0	1.0	965	$949	$0.98	44d	1	1.41mi
4114 E Washington St Indianapolis, IN	2.0	1.0	909	$1,100	$1.21	45d	1	1.44mi
4214 E Washington St Indianapolis, IN	3.0	2.0	961	$1,195	$1.24	8d	1	1.44mi
28 S Dearborn St Unit A Indianapolis, IN	3.0	1.0	1100	$1,400	$1.27	11d	1	1.45mi
1013 Harlan St Indianapolis, IN	2.0	1.0	1008	$1,475	$1.46	44d	1	1.46mi
1011 Harlan St Indianapolis, IN	2.0	2.0	1008	$1,525	$1.51	44d	1	1.46mi
2116 Woodlawn Ave Indianapolis, IN	2.0	2.0	1054	$1,175	$1.11	8d	1	1.46mi
2036 Calhoun St Indianapolis, IN	2.0	1.0	880	$1,200	$1.36	8d	1	1.50mi

Listing history 34 events

1. 2026-06-18
   days on market $130,000 Active 160 DOM
2. 2026-06-17
   days on market $130,000 Active 159 DOM
3. 2026-06-16
   days on market $130,000 Active 158 DOM
4. 2026-06-15
   days on market $130,000 Active 157 DOM
5. 2026-06-13
   days on market $130,000 Active 155 DOM
6. 2026-06-13
   days on market $130,000 Active 154 DOM
7. 2026-06-09
   days on market $130,000 Active 151 DOM
8. 2026-06-08
   days on market $130,000 Active 150 DOM
9. 2026-06-07
   days on market $130,000 Active 149 DOM
10. 2026-06-03
    days on market $130,000 Active 145 DOM
11. 2026-06-02
    days on market $130,000 Active 144 DOM
12. 2026-06-01
    days on market $130,000 Active 143 DOM
13. 2026-05-31
    days on market $130,000 Active 142 DOM
14. 2026-04-15
    price $130,000 367-char remark

    Show marketing remark (367 chars)

    This 3-bedroom, 1-bath home is currently rented for $1,000 a month and delivers consistent income in a convenient southside location. Just minutes from downtown Indianapolis, it offers easy access to shopping, highways, and public transit. The layout is efficient and tenant-friendly, with room for future updates if desired. A great addition to any rental portfolio.

15. 2026-01-09
    listed $140,000 Active 367-char remark

    Show marketing remark (367 chars)

    This 3-bedroom, 1-bath home is currently rented for $1,000 a month and delivers consistent income in a convenient southside location. Just minutes from downtown Indianapolis, it offers easy access to shopping, highways, and public transit. The layout is efficient and tenant-friendly, with room for future updates if desired. A great addition to any rental portfolio.

16. 2025-10-01
    historical
17. 2025-08-23
    price $130,000
18. 2025-07-17
    listed $140,000 Active
19. 2025-06-30
    historical
20. 2024-06-18
    listed $155,000 Active
21. 2018-11-30
    historical
22. 2018-10-12
    price $68,000
23. 2018-09-12
    price $70,000
24. 2018-08-29
    price $74,900
25. 2018-08-08
    price $77,900
26. 2018-07-30
    price $79,900
27. 2018-07-06
    listed $84,900 Active
28. 2017-08-04
    soldstatus $20,800 Sold
29. 2017-06-13
    status Pending
30. 2017-05-30
    price $24,900
31. 2017-03-27
    status Active
32. 2017-03-22
    historical
33. 2017-03-02
    price $26,900
34. 2017-01-26
    listed $39,000 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: $2,906 · $242/mo
• Projected year-2 tax: $2,906 · $242/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 ≥102°F today · 18 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $16,575
• − Mortgage interest: −$7,282
• − Property taxes: −$2,906
• − Insurance: −$650
• − Repairs & maintenance: −$1,326
• − Management: −$1,326
• − Depreciation: −$3,782
• Taxable loss: −$697
• Est. tax savings @ 24.0%: +$167
• After-tax cash flow: $1,525/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): 37,758
• Household income: $57,393
• Rent vs Own: 42.2% rent · 57.8% own
• Severe rent burden: 1499.0

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: 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%

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

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

+233.3% since first listed

21 events — show timeline

• 2026-04-15 Price Changed $130,000 MIBOR as Distributed by MLS Grid
• 2026-01-09 Listed $140,000 MIBOR as Distributed by MLS Grid
• 2025-10-01 Listing Removed — MIBOR as Distributed by MLS Grid
• 2025-08-23 Price Changed $130,000 MIBOR as Distributed by MLS Grid
• 2025-07-17 Listed $140,000 MIBOR as Distributed by MLS Grid
• 2025-06-30 Listing Removed — MIBOR as Distributed by MLS Grid
• 2024-06-18 Listed $155,000 MIBOR as Distributed by MLS Grid
• 2018-11-30 Listing Removed — MIBOR as Distributed by MLS Grid
• 2018-10-12 Price Changed $68,000 MIBOR as Distributed by MLS Grid
• 2018-09-12 Price Changed $70,000 MIBOR as Distributed by MLS Grid
• 2018-08-29 Price Changed $74,900 MIBOR as Distributed by MLS Grid
• 2018-08-08 Price Changed $77,900 MIBOR as Distributed by MLS Grid
• 2018-07-30 Price Changed $79,900 MIBOR as Distributed by MLS Grid
• 2018-07-06 Listed $84,900 MIBOR as Distributed by MLS Grid
• 2017-08-04 Sold (MLS) $20,800 MIBOR as Distributed by MLS Grid
• 2017-06-13 Pending — MIBOR as Distributed by MLS Grid
• 2017-05-30 Price Changed $24,900 MIBOR as Distributed by MLS Grid
• 2017-03-27 Relisted — MIBOR as Distributed by MLS Grid
• 2017-03-22 Listing Removed — MIBOR as Distributed by MLS Grid
• 2017-03-02 Price Changed $26,900 MIBOR as Distributed by MLS Grid
• 2017-01-26 Listed $39,000 MIBOR as Distributed by MLS Grid

Property tax history

+11.5%/yr

Latest (2025): $2,906 · +18.1% YoY. Source: county tax records.