55 S Chester Ave · Indianapolis city (balance), IN 46201

$101,900

2 bd · 1.0 ba · 872 sqft · SingleFamily public records · 141 Days on market

Built 1919 5,881 sqft lot $117/sqft · 29% above area Est $158k · 36% 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 +18.5/30.0
• ARV discount +15.0/15.0
• 1% rule +5.8/10.0
• DSCR +5.8/10.0
• 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

Listing remarks MLS

This 2-bedroom, 1-bath property offers character throughout while still leaving room for you to make it your own. Recent updates include new plumbing, a new garage door, and a new garage roof. Step outside to a spacious, fenced backyard.

Key facts

• New plumbing
• New garage roof
• Porch

Tags

• NEW PLUMBING
• NEW GARAGE DOOR
• NEW GARAGE ROOF
• BACKSPLASH
• PORCH
• SHED

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $102k.

Deal economics

• At list price, monthly cash flow is $96 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $102k).
• Recommended offer: $90k (12.0% below list) — sets the bar for market timing.
• Cap rate 7.4% 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.
• Market conditions: Rents rising fast (+7.3%/yr); 480 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 42% 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 $705 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 + 7.3% rent growth), your $29k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 141 days — a 12% lower offer ($90k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 25y ago; this cycle's ask has dropped $18k (15%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1919 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $89,672 (12.0% below list)

Questions for the listing agent

1. It's been on market 141 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 1919 — 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: 1.08% ✓
• Cap rate: 7.43%
• Cash-on-cash: 4.05%
• DSCR: 1.18
• GRM: 7.7

CMA / ARV

• ARV (median comp): $158,002
• List price: $101,900
• Delta: -35.51%
• 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
3919 Spann Ave	0.61mi	2/1.0	864 (-1%)	10mo	$74,000	$86	62
3909 Hoyt Ave	0.74mi	2/1.0	864 (-1%)	7mo	$120,000	$139	58
334 N Chester Ave	0.37mi	3/2.0 (+1)	912 (+5%)	13mo	$175,000	$192	56
330 N Lasalle St	0.70mi	2/1.0	840 (-4%)	8mo	$35,000	$42	54
4648 Brookville Rd	0.51mi	3/2.0 (+1)	936 (+7%)	3mo	$189,900	$203	53
3847 Hoyt Ave	0.74mi	2/1.0	912 (+5%)	6mo	$75,000	$82	53
545 Dayton Ave	0.75mi	3/1.0 (+1)	896 (+3%)	6mo	$101,000	$113	50
3106 Newton Ave	0.73mi	3/2.0 (+1)	912 (+5%)	1mo	$95,500	$105	49
111 N Gale St	0.49mi	2/1.0	754 (-14%)	7mo	$127,000	$168	48
3730 E Pleasant Run Parkway North Dr	0.64mi	3/1.0 (+1)	912 (+5%)	15mo	$147,900	$162	45
4113 Fletcher Ave	0.68mi	3/1.0 (+1)	912 (+5%)	15mo	$155,000	$170	44
3954 Fletcher Ave	0.64mi	2/1.0	979 (+12%)	14mo	$25,000	$26	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 · 7.31% rent growth · sell at horizon

5-year hold

• IRR: -4.8%
• Equity multiple: 0.81×
• Total profit: $-5,356
• Equity at exit: $15,194

10-year hold

• IRR: 9.7%
• Equity multiple: 1.90×
• Total profit: $25,761
• Equity at exit: $8,810

Cash invested: $28,532 (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: 480
• Price-to-rent: 7.7×

Monthly cashflow live

• Estimated rent: $1,099 high
• Mortgage (P&I): −$534
• Tax from tax record: −$195 /mo · $2,339/yr
• Insurance: −$42
• HOA: −$0
• Vacancy / Maint / Mgmt: −$231
• Net cashflow: $96

Break-even live

Break-even rent $977

Max offer price $101,900

Occupancy floor 86%

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: $25,475
• Closing costs: $3,057
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4114 E Washington St Indianapolis, IN	2.0	1.0	909	$1,100	$1.21	44d	1	0.14mi
4214 E Washington St Indianapolis, IN	3.0	2.0	961	$1,195	$1.24	7d	1	0.17mi
37 S Sherman Dr Indianapolis, IN	1.0	1.0	700	$800	$1.14	23d	1	0.21mi
412 N Bradley Ave Unit 3 Indianapolis, IN	2.0	1.0	700	$950	$1.36	23d	1	0.43mi
83 N Ewing St Unit 83 Indianapolis, IN	3.0	1.0	1016	$1,199	$1.18	43d	1	0.44mi
3622 E New York St Indianapolis, IN	2.0	1.0	805	$995	$1.24	43d	1	0.44mi
4741 E Washington St Indianapolis, IN	1.0	1.0	700	$950	$1.36	21d	1	0.47mi
521 N Gladstone Ave Indianapolis, IN	1.0	1.0	816	$1,100	$1.35	20d	1	0.52mi
521 N Gladstone Ave Unit B Indianapolis, IN	1.0	1.0	816	$900	$1.10	7d	1	0.52mi
37 S Tuxedo St Indianapolis, IN	3.0	1.0	950	$1,150	$1.21	43d	1	0.54mi
4815 E Washington St Unit 4815-10 Indianapolis, IN	1.0	1.0	600	$950	$1.58	21d	1	0.54mi
4815 E Washington St Unit 4815-04 Indianapolis, IN	1.0	1.0	600	$895	$1.49	43d	1	0.54mi
4815 E Washington St Unit 4815-12 Indianapolis, IN	1.0	1.0	700	$950	$1.36	43d	1	0.54mi
4831 E Washington St Unit 4 Indianapolis, IN	2.0	2.0	1000	$995	$0.99	23d	1	0.56mi
622 N Linwood Ave Indianapolis, IN	3.0	2.0	985	$1,299	$1.32	43d	1	0.62mi
4926 E Washington St Apt 5 Indianapolis, IN	1.0	1.0	700	$895	$1.28	43d	1	0.65mi
28 S Dearborn St Unit A Indianapolis, IN	3.0	1.0	1100	$1,400	$1.27	10d	1	0.68mi
270 S Lasalle St Indianapolis, IN	3.0	2.0	562	$1,329	$2.36	7d	1	0.69mi
810 N Euclid Ave Indianapolis, IN	3.0	1.0	574	$1,550	$2.70	19d	1	0.70mi
706 N Bosart Ave Indianapolis, IN	2.0	1.0	1000	$1,070	$1.07	23d	1	0.70mi
821 N Bradley Ave Indianapolis, IN	1.0	1.0	663	$850	$1.28	4d	1	0.73mi
3906 Hoyt Ave Indianapolis, IN	2.0	1.0	912	$1,250	$1.37	7d	1	0.73mi
4919 Orion Ave Indianapolis, IN	2.0	1.0	766	$875	$1.14	43d	1	0.73mi
822 N Bradley Ave Unit 822 Indianapolis, IN	3.0	1.0	1100	$1,200	$1.09	43d	1	0.73mi
833 N Gladstone Ave Indianapolis, IN	1.0	1.0	687	$825	$1.20	23d	1	0.73mi
729 N Bosart Ave Indianapolis, IN	2.0	1.0	888	$1,195	$1.35	23d	1	0.75mi
4417 Linwood Ct Indianapolis, IN	2.0	1.0	780	$929	$1.19	3d	15	0.75mi
528 S Bosart Ave Indianapolis, IN	3.0	1.0	720	$1,305	$1.81	43d	1	0.75mi
3706 Hoyt Ave Indianapolis, IN	3.0	1.0	960	$1,500	$1.56	13d	1	0.78mi
3702 Hoyt Ave Indianapolis, IN	3.0	2.0	960	$1,500	$1.56	13d	1	0.78mi
301 S Gray St Indianapolis, IN	2.0	1.0	841	$1,025	$1.22	23d	1	0.78mi
340 S Dearborn St Indianapolis, IN	2.0	1.0	873	$1,180	$1.35	23d	1	0.79mi
25 S Emerson Ave Indianapolis, IN	1.0	1.0	710	$649	$0.91	43d	1	0.81mi
235 N Oakland Ave Indianapolis, IN	2.0	1.0	800	$1,000	$1.25	43d	1	0.82mi
927 N Chester Ave Indianapolis, IN	1.0	1.0	596	$750	$1.26	43d	1	0.83mi
896 N Gladstone Ave Indianapolis, IN	1.0	1.0	580	$775	$1.34	43d	1	0.83mi
510 N Dearborn St Indianapolis, IN	3.0	1.0	1008	$1,350	$1.34	43d	1	0.84mi
861 N Drexel Ave Unit 863 Indianapolis, IN	3.0	1.0	1000	$1,200	$1.20	43d	1	0.84mi
861 N Drexel Ave Indianapolis, IN	3.0	1.0	1000	$1,200	$1.20	7d	1	0.84mi
628 N Riley Ave Indianapolis, IN	2.0	1.5	948	$1,295	$1.37	23d	1	0.85mi

Listing history 26 events

1. 2026-06-18
   days on market $101,900 Active 141 DOM
2. 2026-06-17
   days on market $101,900 Active 140 DOM
3. 2026-06-16
   days on market $101,900 Active 139 DOM
4. 2026-06-15
   days on market $101,900 Active 138 DOM
5. 2026-06-13
   days on market $101,900 Active 136 DOM
6. 2026-06-13
   days on market $101,900 Active 135 DOM
7. 2026-06-09
   days on market $101,900 Active 132 DOM
8. 2026-06-08
   days on market $101,900 Active 131 DOM
9. 2026-06-07
   days on market $101,900 Active 130 DOM
10. 2026-06-03
    days on market $101,900 Active 126 DOM
11. 2026-06-02
    days on market $101,900 Active 125 DOM
12. 2026-06-01
    days on market $101,900 Active 124 DOM
13. 2026-05-31
    days on market $101,900 Active 123 DOM
14. 2026-04-14
    price $101,900 239-char remark

    Show marketing remark (239 chars)

    This 2-bedroom, 1-bath property offers character throughout while still leaving room for you to make it your own. Recent updates include new plumbing, a new garage door, and a new garage roof. Step outside to a spacious, fenced backyard.

15. 2026-03-16
    price $110,900 239-char remark

    Show marketing remark (239 chars)

    This 2-bedroom, 1-bath property offers character throughout while still leaving room for you to make it your own. Recent updates include new plumbing, a new garage door, and a new garage roof. Step outside to a spacious, fenced backyard.

16. 2026-02-17
    price $114,900 239-char remark

    Show marketing remark (239 chars)

    This 2-bedroom, 1-bath property offers character throughout while still leaving room for you to make it your own. Recent updates include new plumbing, a new garage door, and a new garage roof. Step outside to a spacious, fenced backyard.

17. 2026-01-28
    listed $119,900 Active 239-char remark

    Show marketing remark (239 chars)

    This 2-bedroom, 1-bath property offers character throughout while still leaving room for you to make it your own. Recent updates include new plumbing, a new garage door, and a new garage roof. Step outside to a spacious, fenced backyard.

18. 2026-01-20
    historical
19. 2025-12-03
    listed $138,900 Active
20. 2022-12-19
    soldstatus $94,900 Closed
21. 2022-12-07
    status Pending
22. 2022-11-29
    listed $94,900 Active
23. 2005-02-10
    soldstatus $25,000
24. 2004-12-03
    listed $26,900
25. 2002-07-30
    historical
26. 2001-09-27
    listed

ⓘ 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: $2,339 · $195/mo
• Projected year-2 tax: $2,339 · $195/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 ≥102°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: $13,184
• − Mortgage interest: −$5,708
• − Property taxes: −$2,339
• − Insurance: −$510
• − Repairs & maintenance: −$1,055
• − Management: −$1,055
• − Depreciation: −$2,964
• Taxable loss: −$446
• Est. tax savings @ 24.0%: +$107
• After-tax cash flow: $1,262/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

+278.8% since first listed

13 events — show timeline

• 2026-04-14 Price Changed $101,900 MIBOR as Distributed by MLS Grid
• 2026-03-16 Price Changed $110,900 MIBOR as Distributed by MLS Grid
• 2026-02-17 Price Changed $114,900 MIBOR as Distributed by MLS Grid
• 2026-01-28 Listed $119,900 MIBOR as Distributed by MLS Grid
• 2026-01-20 Listing Removed — MIBOR as Distributed by MLS Grid
• 2025-12-03 Listed $138,900 MIBOR as Distributed by MLS Grid
• 2022-12-19 Sold (MLS) $94,900 MIBOR as Distributed by MLS Grid
• 2022-12-07 Pending — MIBOR as Distributed by MLS Grid
• 2022-11-29 Listed $94,900 MIBOR as Distributed by MLS Grid
• 2005-02-10 Sold (MLS) $25,000 MIBOR as Distributed by MLS Grid
• 2004-12-03 Listed $26,900 MIBOR as Distributed by MLS Grid
• 2002-07-30 Listing Removed — MIBOR as Distributed by MLS Grid
• 2001-09-27 Listed — MIBOR as Distributed by MLS Grid

Property tax history

+8.2%/yr

Latest (2025): $2,339 · +15.3% YoY. Source: county tax records.