1602 W Jeffras Ave · Marion, IN 46952

$50,000

2 bd · 1.0 ba · 884 sqft · SingleFamily public records · 4 Days on market

Built 1900 4,700 sqft lot

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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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• 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

Being sold AS-IS, WHERE-IS, with no repairs or concessions to be made by the seller. Cash offers preferred! Don't miss this opportunity to acquire an affordable property with strong upside potential in Marion, Indiana. This 2-bedroom, 1-bath home offers 884 square feet of living space and features a functional floor plan, spacious living area, and a detached garage for additional storage or parking. Conveniently located near schools, shopping, dining, and major roadways, the property provides easy access to everyday amenities. Whether you're an investor, flipper, or buyer looking for a value-add opportunity, this home presents excellent potential for renovation, rental income, or resale. Br

Key facts

• Spacious living area
• Detached garage
• 4,700 sq ft lot

Tags

• DETACHED GARAGE
• FUNCTIONAL FLOOR PLAN
• SPACIOUS LIVING AREA
• EASY ACCESS TO AMENITIES

Property features AI

Finance

• Financial info: Annual tax amount reported

Exterior

• Utilities: Public water; Public sewer
• Home design: Single-family residence, site-built; One story
• Construction: Vinyl siding; Slab foundation; Built as site-built construction
• Exterior features: Lot dimensions approximately 47 x 100; Lot size about 0.11 acre

Interior

• Kitchen: Includes refrigerator and gas oven
• Bedrooms: Total of 5 rooms (includes bedrooms and living spaces)
• Bathrooms: 1 full bathroom (main level)
• Heating & cooling: Forced air heating; Window unit cooling
• Interior features: Refrigerator; Gas oven; Window air conditioning units; Forced air heating
• Laundry & utility: Laundry on the main level

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 $366 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($857 rent vs $50k).
• Cap rate 15.1% vs local median 8.2% 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: amenities F, commute F, employment 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.
• Zoned schools: John W Kendall Elem School (math 37% / reading 32%, grade F, #597 of 994 statewide, top 63%, 372 students, 69% FRL); John L Mcculloch Junior High Sch (math 11% / reading 22%, grade F, #287 of 330 statewide, top 88%, 524 students, 74% FRL); Marion High School (math 12% / reading 47%, grade F, #308 of 369 statewide, top 84%, 1,050 students, 66% FRL) — zoned schools at 70% FRL track the district average.
• Market conditions: 126 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; 52 units permitted in Grant County in 2024 (8 in 5+ unit buildings).

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 ~4 years — after that, you're playing with house money.

Negotiation context

• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

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

Recommended offer $50,000

Questions for the listing agent

1. Built in 1900 — 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: 1.71% ✓
• Cap rate: 15.08%
• Cash-on-cash: 31.37%
• DSCR: 2.40
• GRM: 4.9

CMA / ARV

• ARV (on-the-fly): $112,268
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1805 W Wenlock Dr	0.41mi	2/1.0	851 (-4%)	7mo	$95,000	$112	69
1203 W National Ave	0.51mi	2/1.0	848 (-4%)	2mo	$85,000	$100	68
1640 W Spencer Ave	0.15mi	2/1.5	1,004 (+14%)	2mo	$74,000	$74	66
221 N G St	0.37mi	2/1.0	804 (-9%)	2mo	$55,000	$68	66
1005 N Oxford Dr	0.55mi	3/1.0 (+1)	864 (-2%)	6mo	$109,900	$127	60
304 N Norton Ave	0.50mi	2/1.5	960 (+9%)	3mo	$154,000	$160	58
601 N Bradner Ave	0.39mi	3/1.0 (+1)	960 (+9%)	7mo	$150,000	$156	57
806 N Guinivere Dr	0.66mi	3/1.0 (+1)	900 (+2%)	7mo	$157,000	$174	55
506 N Miller Ave	0.71mi	3/1.5 (+1)	936 (+6%)	2mo	$156,000	$167	49
1422 W 5 St	0.55mi	2/1.0	768 (-13%)	7mo	$55,000	$72	47
1806 W Westlea Dr	0.71mi	3/1.0 (+1)	960 (+9%)	2mo	$80,000	$83	46
800 N Knight Cir	0.62mi	3/1.0 (+1)	984 (+11%)	1mo	$157,000	$160	46

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: 26.2%
• Equity multiple: 2.09×
• Total profit: $15,202
• Equity at exit: $7,455

10-year hold

• IRR: 33.9%
• Equity multiple: 4.09×
• Total profit: $43,222
• 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: 126
• Price-to-rent: 4.9×

Monthly cashflow live

• Estimated rent: $857 medium
• Mortgage (P&I): −$262
• Tax from tax record: −$28 /mo · $333/yr
• Insurance: −$21
• HOA: −$0
• Vacancy / Maint / Mgmt: −$180
• Net cashflow: $366

Break-even live

Break-even rent $393

Max offer price $50,000

Occupancy floor 52%

Sensitivity live

Price	-10% $394	-5% $380	+0% $366	+5% $352	+10% $338
Rent	-10% $298	-5% $332	+0% $366	+5% $400	+10% $434
Rate	-1.0pp $391	-0.5pp $379	base $366	+0.5pp $353	+1.0pp $340

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 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2116 W 2nd St Marion, IN	1.0–2.0	1.0	764	$945	$1.24	45d	1	0.63mi
2111 W Frederick Dr Marion, IN	1.0–2.0	1.0–1.5	965	$937	$0.97	45d	4	0.76mi
805 N Washington St Unit 10 Marion, IN	1.0	1.0	600	$575	$0.96	45d	1	1.07mi

Listing history 8 events

1. 2026-06-21
   days on market $50,000 Active 4 DOM
2. 2026-06-19
   days on market $50,000 Active 2 DOM
3. 2026-06-18
   days on marketlisting id $50,000 Active 1 DOM
4. 2026-06-17
   days on market $50,000 Active 5 DOM
5. 2026-06-16
   days on market $50,000 Active 4 DOM
6. 2026-06-15
   days on market $50,000 Active 3 DOM
7. 2026-06-12
   remarks 699-char remark
8. 2026-06-12
   listed $50,000 Active 1 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: $333 · $28/mo
• Projected year-2 tax: $379 · $32/mo
• Expected delta: +$46/yr (+$4/mo · 13.8%)

ⓘ 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 ≥100°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: $10,281
• − Mortgage interest: −$2,801
• − Property taxes: −$333
• − Insurance: −$250
• − Repairs & maintenance: −$822
• − Management: −$822
• − Depreciation: −$1,455
• Taxable income: $3,798
• Est. tax owed @ 24.0%: −$911
• After-tax cash flow: $3,481/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

• 2026-06-12 Listed $50,000 IRMLS

Property tax history

+1.9%/yr

Latest (2024): $333 · +6.0% YoY. Source: county tax records.