1713 N Rural St · Indianapolis city (balance), IN 46218

$129,000

1 bd · 1.0 ba · 638 sqft · MultiFamily public records · 50 Days on market

Built 1944 6,273 sqft lot $202/sqft · 75% above area Est $147k · 12% under

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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
• ARV discount +13.0/15.0
• DSCR +10.0/10.0
• 1% rule +8.7/10.0
• Rent growth +2.7/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.4/10.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks MLS

1 bedroom per side, block duplex along busy street. Convenient to walk to schools, parks and along bus line. Great investment property with high traffic visibility for marketing. Full rehab needed.

Key facts

• Living room
• Large backyard
• Laundry utility room

Tags

• DUPLEX
• LIVING ROOM
• EAT-IN KITCHEN
• LAUNDRY UTILITY ROOM
• FULL BATH
• LARGE BACKYARD

Property features AI

Finance

• Other: Property currently used as residential
• Financial info: Two-unit property; Unit 1 rent listed at $850 per month; Unit 2 rent listed at $750 per month; Gross income and expenses listed as 0 (per provided data)
• HOA & community: Not specified

Exterior

• Parking: Unpaved parking and other parking areas; Alley access; Concrete parking features; No garage spaces
• Security: Not specified
• Utilities: Solid waste service available; Owner pays insurance, taxes, and water
• Home design: Duplex (residential income property); One story
• Construction: Block construction; Slab foundation
• Exterior features: City lot with sidewalks; Mature trees; Asphalt road frontage; Access road/frontage road

Interior

• Kitchen: Range/Oven; Refrigerator
• Bedrooms: Two 1-bedroom units (each unit is single-level)
• Flooring: Not specified
• Bathrooms: Not specified
• Heating & cooling: Baseboard heating (electric); Window air conditioning units
• Interior features: Eat-in kitchens in both units; Laundry room on the main level
• Laundry & utility: Main-level laundry room

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $129k.

Deal economics

• At list price, monthly cash flow is $560 ($7k/yr) — positive. Per door: $280/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $129k).
• Recommended offer: $125k (3.0% below list) — sets the bar for market timing.
• Cap rate 11.5% 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.
• Market conditions: Rents flat; 334 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); lower-income renter base — watch delinquency; 1,906 units permitted in Marion County in 2024 (621 in 5+ unit buildings).
• At $1,765/mo this rent would consume 56% of the median local household income ($38k/yr) (locally 2340% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $892 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.
• At projected returns (-3.0% appreciation + 0.8% rent growth), your $36k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 50 days — a 3% lower offer ($125k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 17y ago; this cycle's ask has dropped $16k (11%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $20k; list at $129k implies a 545% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1944 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $125,130 (3.0% below list)

Questions for the listing agent

1. It's been on market 50 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1944 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.37% ✓
• Cap rate: 11.50%
• Cash-on-cash: 18.61%
• DSCR: 1.83
• GRM: 6.1

CMA / ARV

• ARV (median comp): $147,136
• List price: $129,000
• Delta: -12.33%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1522 N Tacoma Ave	0.25mi	2/1.0 (+1)	660 (+3%)	17mo	$130,000	$197	63

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 · 0.81% rent growth · sell at horizon

5-year hold

• IRR: 7.9%
• Equity multiple: 1.30×
• Total profit: $10,966
• Equity at exit: $19,234

10-year hold

• IRR: 15.3%
• Equity multiple: 2.12×
• Total profit: $40,516
• Equity at exit: $11,154

Cash invested: $36,120 (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 46218

• Home prices YoY: -17.1%
• Rents YoY: 0.8%
• Active inventory: 334
• Price-to-rent: 12.2×

Monthly cashflow live

• Estimated rent: $1,765 medium
• Mortgage (P&I): −$676
• Tax from tax record: −$104 /mo · $1,246/yr
• Insurance: −$54
• HOA: −$0
• Vacancy / Maint / Mgmt: −$371
• Net cashflow: $560

Break-even live

Break-even rent $1,056

Max offer price $129,000

Occupancy floor 63%

Sensitivity live

Price	-10% $633	-5% $597	+0% $560	+5% $524	+10% $487
Rent	-10% $421	-5% $491	+0% $560	+5% $630	+10% $700
Rate	-1.0pp $625	-0.5pp $593	base $560	+0.5pp $527	+1.0pp $493

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$1,764
Total (2 units)			$1,765

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: $32,250
• Closing costs: $3,870
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2827 E 18th St Indianapolis, IN	2.0	1.0	726	$1,300	$1.79	24d	1	0.07mi
3058 Brookside Parkway North Dr Indianapolis, IN	1.0	1.0	700	$875	$1.25	13d	1	0.13mi
1931 N Oxford St Indianapolis, IN	1.0	1.0	616	$875	$1.42	4d	1	0.25mi
1315 N Rural St Indianapolis, IN	1.0	1.0	700	$1,000	$1.43	5d	1	0.33mi
1114 N Dearborn St Indianapolis, IN	1.0	1.0	646	$795	$1.23	45d	1	0.54mi
1358 N Gale St Indianapolis, IN	1.0	1.0	550	$890	$1.62	17d	1	0.59mi
1301 N Olney St Unit 1303 Indianapolis, IN	2.0	1.0	750	$1,100	$1.47	44d	1	0.61mi
1036 N Tuxedo St Indianapolis, IN	1.0	1.0	646	$750	$1.16	5d	1	0.66mi
3709 Brookside Parkway South Dr Indianapolis, IN	1.0	1.0	742	$825	$1.11	24d	1	0.68mi
1028 N Olney St Unit 1030 Indianapolis, IN	1.0	1.0	700	$800	$1.14	24d	1	0.71mi
1106 N Gale St Unit 1 Indianapolis, IN	2.0	1.0	750	$895	$1.19	44d	1	0.72mi
1106 N Gale St Unit 3 Indianapolis, IN	—	1.0	400	$650	$1.62	5d	1	0.72mi
1518 N Chester Ave Indianapolis, IN	2.0	1.0	672	$700	$1.04	8d	1	0.88mi
628 N Oxford St Indianapolis, IN	1.0	1.0	536	$775	$1.45	24d	1	0.89mi
2449 Wheeler St Indianapolis, IN	1.0	1.0	600	$950	$1.58	24d	1	0.92mi
1538 N Grant Ave Indianapolis, IN	1.0	1.0	375	$700	$1.87	44d	1	0.94mi
1306 N Chester Ave Indianapolis, IN	1.0	1.0	600	$800	$1.33	21d	1	0.94mi
2821 Oxford Ln Indianapolis, IN	1.0	1.0	640	$825	$1.29	44d	1	0.95mi
3011 Oxford Ln Indianapolis, IN	1.0	1.0	640	$800	$1.25	44d	1	0.95mi
2422 Adams St Unit 2 Indianapolis, IN	1.0	1.0	700	$850	$1.21	44d	1	0.95mi
1327 N Chester Ave Indianapolis, IN	1.0	1.0	600	$795	$1.32	14d	1	0.95mi
2372 Beckwith Dr Indianapolis, IN	4.0	1.0–1.5	779	$922	$1.18	2d	32	0.96mi
1531 N Grant Ave Indianapolis, IN	1.0	1.0	611	$875	$1.43	24d	1	0.96mi
2530 N Temple Ave Indianapolis, IN	1.0	1.0	720	$750	$1.04	21d	1	1.00mi
1512 N Gladstone Ave Unit 1510 1510 Indianapolis, IN	1.0	1.0	570	$830	$1.46	15d	1	1.01mi
1510 N Gladstone Ave Indianapolis, IN	1.0	1.0	570	$765	$1.34	44d	1	1.01mi
1450 N Gladstone Ave Indianapolis, IN	1.0	1.0	588	$799	$1.36	44d	1	1.02mi
621 Tecumseh St Indianapolis, IN	2.0	1.0	726	$1,025	$1.41	44d	1	1.04mi
1644 Doctor Andrew J Brown Ave Unit A&B Indianapolis, IN	1.0	1.0	550	$1,300	$2.36	44d	1	1.04mi
784 Woodruff Place Middle Dr Indianapolis, IN	1.0	1.0	750	$1,300	$1.73	44d	1	1.06mi
679 Woodruff Place East Dr Indianapolis, IN	1.0	1.0	600	$895	$1.49	24d	1	1.06mi
1432 N Colorado Ave Indianapolis, IN	1.0	1.0	584	$875	$1.50	24d	1	1.09mi
2519 Baltimore Ave Unit B Indianapolis, IN	2.0	1.0	482	$775	$1.61	24d	1	1.10mi
2030 N Colorado Ave Indianapolis, IN	2.0	1.0	728	$1,150	$1.58	24d	1	1.12mi
821 N Bradley Ave Indianapolis, IN	1.0	1.0	663	$850	$1.28	5d	1	1.14mi
415 N Oxford St Indianapolis, IN	1.0	1.0	580	$650	$1.12	24d	1	1.16mi
927 N Chester Ave Indianapolis, IN	1.0	1.0	596	$750	$1.26	44d	1	1.16mi
2722 N Olney St Indianapolis, IN	2.0	1.0	650	$795	$1.22	44d	1	1.19mi
896 N Gladstone Ave Indianapolis, IN	1.0	1.0	580	$775	$1.34	44d	1	1.24mi
1515 Lewis St Indianapolis, IN	2.0	1.0–2.0	782	$1,674	$2.14	2d	11	1.25mi

Listing history 19 events

1. 2026-06-17
   status $129,000 Pending 50 DOM
2. 2026-06-16
   days on market $129,000 Active 50 DOM
3. 2026-06-15
   days on market $129,000 Active 49 DOM
4. 2026-06-13
   days on market $129,000 Active 47 DOM
5. 2026-06-13
   pricedays on market $129,000 Active 46 DOM
6. 2026-06-09
   days on market $134,999 Active 43 DOM
7. 2026-06-08
   days on market $134,999 Active 42 DOM
8. 2026-06-07
   days on market $134,999 Active 41 DOM
9. 2026-06-03
   days on market $134,999 Active 37 DOM
10. 2026-06-02
    days on market $134,999 Active 36 DOM
11. 2026-06-01
    days on market $134,999 Active 35 DOM
12. 2026-05-31
    days on market $134,999 Active 34 DOM
13. 2026-04-27
    listed $145,000 Active 298-char remark
14. 2017-04-04
    soldstatus $20,000 Sold 198-char remark

    Show marketing remark (198 chars)

    1 bedroom per side, block duplex along busy street. Convenient to walk to schools, parks and along bus line. Great investment property with high traffic visibility for marketing. Full rehab needed.

15. 2017-03-31
    historical Active with Contingency 198-char remark

    Show marketing remark (198 chars)

    1 bedroom per side, block duplex along busy street. Convenient to walk to schools, parks and along bus line. Great investment property with high traffic visibility for marketing. Full rehab needed.

16. 2017-03-17
    listed $20,000 Active 198-char remark

    Show marketing remark (198 chars)

    1 bedroom per side, block duplex along busy street. Convenient to walk to schools, parks and along bus line. Great investment property with high traffic visibility for marketing. Full rehab needed.

17. 2009-11-05
    historical

    Show marketing remark (182 chars)

    Excellent investment opportunity on this property. Rent both sides and double the income potential. Interior needs quite a bit of work but exterior is low maintenance cinder block.

18. 2009-11-05
    soldstatus $5,251

    Show marketing remark (182 chars)

    Excellent investment opportunity on this property. Rent both sides and double the income potential. Interior needs quite a bit of work but exterior is low maintenance cinder block.

19. 2009-08-26
    listed $5,500

    Show marketing remark (182 chars)

    Excellent investment opportunity on this property. Rent both sides and double the income potential. Interior needs quite a bit of work but exterior is low maintenance cinder block.

ⓘ 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: $1,246 · $104/mo
• Projected year-2 tax: $1,246 · $104/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 · 19 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 0% 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: $21,180
• − Mortgage interest: −$7,226
• − Property taxes: −$1,246
• − Insurance: −$645
• − Repairs & maintenance: −$1,694
• − Management: −$1,694
• − Depreciation: −$3,753
• Taxable income: $4,921
• Est. tax owed @ 24.0%: −$1,181
• After-tax cash flow: $5,542/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): 29,360
• Household income: $38,063
• Rent vs Own: 47.2% rent · 52.8% own
• Severe rent burden: 2340.0

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 Black (68%)
• Race & ethnicity: Black 68% White 18% Hispanic / Latino 9% Two or more races 6%
• Hispanic origin (detail): Mexican 6%
• Common ancestry: Romanian 1%
• Foreign-born: 5% · Canada, Philippines
• Languages at home: 92% English-only · Spanish 7%

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: ▼ -81.57%
• Current HPI: 395.7071
• Rent YoY: ▲ 0.81%
• 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

+2245.5% since first listed

11 events — show timeline

• 2026-06-16 Pending — MIBOR as Distributed by MLS Grid
• 2026-06-10 Price Changed $129,000 MIBOR as Distributed by MLS Grid
• 2026-05-28 Price Changed $134,999 MIBOR as Distributed by MLS Grid
• 2026-05-20 Price Changed $139,999 MIBOR as Distributed by MLS Grid
• 2026-04-27 Listed $145,000 MIBOR as Distributed by MLS Grid
• 2017-04-04 Sold (MLS) $20,000 MIBOR as Distributed by MLS Grid
• 2017-03-31 Contingent — MIBOR as Distributed by MLS Grid
• 2017-03-17 Listed $20,000 MIBOR as Distributed by MLS Grid
• 2009-11-05 Listing Removed — MIBOR as Distributed by MLS Grid
• 2009-11-05 Sold (MLS) $5,251 MIBOR as Distributed by MLS Grid
• 2009-08-26 Listed $5,500 MIBOR as Distributed by MLS Grid

Property tax history

+5.0%/yr

Latest (2025): $1,246 · +10.0% YoY. Source: county tax records.