1031 Blaine Ave · Indianapolis city (balance), IN 46221

$169,900

3 bd · 1.0 ba · 1,242 sqft · SingleFamily public records · 1 Days on market

Built 1920 9,583 sqft lot $137/sqft · 171% above area Est $187k · 9% under

---

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 +23.8/30.0
• ARV discount +11.7/15.0
• DSCR +7.7/10.0
• 1% rule +5.2/10.0
• Rent growth +2.9/5.0
• 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 0.22 acres lot offers a rare chance to start fresh and create something truly special. While the previous structure was lost to fire, this is your chance to wipe the lot clean making way for a brand-new vision to take root. Whether you're looking to build your dream home from the ground up or seeking a savvy investment opportunity to flip and resell, this structure can be demolished and ready for full potential. Located in an established neighborhood with existing utilities and infrastructure already in place, this is your opportunity to bring your plans to life without starting from scratch.

Key facts

• Open-plan kitchen
• Central island
• Charming porch

Tags

• OPEN-PLAN KITCHEN
• CENTRAL ISLAND
• CHARMING PORCH

Property features AI

Exterior

• Parking: Detached 2-car garage with garage door opener; Guest street parking
• Utilities: Public water; Municipal sewer connected; Regular solid waste service
• Home design: Single family residence; Two levels
• Construction: Brick construction; Block foundation
• Exterior features: Covered patio/porch

Interior

• Kitchen: Electric cooktop; Electric oven; Range hood; Down draft; Dishwasher; Refrigerator; Disposal; Exhaust fan
• Bedrooms: Three bedrooms total — two on the main level and one on the upper level; Primary bedroom includes a walk-in closet
• Bathrooms: Two full bathrooms; Primary bathroom features a full shower stall and suite layout
• Heating & cooling: Forced air heating (natural gas); Central air conditioning
• Interior features: Breakfast bar; High ceilings; Kitchen island; Pantry; Walk-in closet(s); Painted woodwork
• Laundry & utility: Electric water heater

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $170k.

Deal economics

• At list price, monthly cash flow is $325 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $170k).
• Cap rate 8.6% 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 (+1.8%/yr); 43 active listings in the ZIP; 14 comparable units currently listed for rent nearby; rentals at typical pace (median 16d on market — plan ~3-4 weeks tenant-placement turnaround); 1,906 units permitted in Marion County in 2024 (621 in 5+ unit buildings).
• This rent runs 32% of the median local income ($65k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k 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

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• 5 sale attempts since 4y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $20k; list at $170k implies a 750% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $169,900

Questions for the listing agent

1. Built in 1920 — 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. 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.
4. 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.
5. 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: 1.02% ✓
• Cap rate: 8.59%
• Cash-on-cash: 8.20%
• DSCR: 1.37
• GRM: 8.2

CMA / ARV

• ARV (median comp): $187,180
• List price: $169,900
• Delta: -9.23%
• Verdict: FAIR
• Comps: 11 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1922 Westview Dr	0.39mi	2/1.0 (-1)	1,330 (+7%)	4mo	$144,500	$109	62
1252 Kappes St	0.45mi	3/1.0	1,296 (+4%)	13mo	$177,000	$137	61
907 Warren Ave	0.40mi	4/1.0 (+1)	1,175 (-5%)	8mo	$159,900	$136	61
1746 Lambert St	0.35mi	3/2.0	1,131 (-9%)	6mo	$134,000	$118	60
1610 Howard St	0.42mi	3/1.0	1,207 (-3%)	22mo	$170,000	$141	57
1260 S Reisner St SW	0.31mi	3/2.0	1,144 (-8%)	15mo	$134,000	$117	56
1131 S Pershing Ave	0.60mi	3/1.0	1,332 (+7%)	12mo	$166,000	$125	50
1801 W Morris St	0.29mi	3/1.5	1,056 (-15%)	12mo	$189,000	$179	50
837 Birch Ave	0.49mi	2/2.0 (-1)	1,100 (-11%)	16mo	$180,000	$164	36
1367 S Sheffield Ave	0.67mi	3/1.0	1,090 (-12%)	19mo	$165,000	$151	32
1445 S Belmont Ave	0.68mi	3/2.0	1,062 (-14%)	13mo	$130,000	$122	29
2218 Howard St	0.71mi	2/1.5 (-1)	1,136 (-8%)	21mo	$75,000	$66	28

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 · 1.79% rent growth · sell at horizon

5-year hold

• IRR: -5.1%
• Equity multiple: 0.81×
• Total profit: $-8,956
• Equity at exit: $25,333

10-year hold

• IRR: 3.2%
• Equity multiple: 1.22×
• Total profit: $10,309
• Equity at exit: $14,690

Cash invested: $47,572 (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 46221

• Home prices YoY: -23.7%
• Rents YoY: 1.8%
• Active inventory: 43
• Price-to-rent: 8.2×

Monthly cashflow live

• Estimated rent: $1,732 high
• Mortgage (P&I): −$891
• Tax from tax record: −$81 /mo · $971/yr
• Insurance: −$71
• HOA: −$0
• Vacancy / Maint / Mgmt: −$364
• Net cashflow: $325

Break-even live

Break-even rent $1,320

Max offer price $169,900

Occupancy floor 76%

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: $42,475
• Closing costs: $5,097
• Reserves months: —
• Total cash needed: —

Rent comps 14 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1105 Blaine Ave Indianapolis, IN	1.0–2.0	1.0–2.5	1157	$1,795	$1.55	23d	1	0.07mi
1801 W Morris St Indianapolis, IN	3.0	1.5	1056	$1,795	$1.70	43d	1	0.31mi
2015 W Wilkins St Indianapolis, IN	3.0	1.0	1250	$1,895	$1.52	43d	1	0.44mi
1339 W Lee St Indianapolis, IN	2.0	1.5	960	$975	$1.02	3d	1	0.45mi
101 S Harding St Apt 307 Indianapolis, IN	2.0	2.0	970	$1,685	$1.74	2d	1	0.82mi
841 S Addison St Indianapolis, IN	2.0	1.0	750	$1,295	$1.73	43d	1	0.84mi
1909 S Pershing Ave Indianapolis, IN	3.0	1.5	728	$1,750	$2.40	3d	1	1.08mi
210 N Richland St Indianapolis, IN	4.0	2.0	1062	$1,625	$1.53	13d	1	1.10mi
2127 Haines Ave Indianapolis, IN	3.0	2.0	1250	$2,000	$1.60	1d	1	1.11mi
86 N Holmes Ave Indianapolis, IN	2.0	1.0	978	$1,050	$1.07	16d	1	1.34mi
1911 Wilcox St Indianapolis, IN	2.0	1.0	896	$1,150	$1.28	43d	1	1.40mi
460 N White River Parkway Dr W Indianapolis, IN	2.0	1.0	681	$1,725	$2.53	2d	14	1.42mi
264 N Holmes Ave Indianapolis, IN	2.0	1.0	1092	$1,200	$1.10	10d	1	1.43mi
240 N Warman Ave Indianapolis, IN	2.0–3.0	1.0–2.0	1052	$1,400	$1.33	20d	5	1.46mi

Listing history 11 events

1. 2026-05-17
   status Pending 739-char remark
2. 2026-05-14
   listed $169,900 Active 739-char remark
3. 2025-07-18
   soldstatus $20,000 Closed 605-char remark

   Show marketing remark (605 chars)

   This 0.22 acres lot offers a rare chance to start fresh and create something truly special. While the previous structure was lost to fire, this is your chance to wipe the lot clean making way for a brand-new vision to take root. Whether you're looking to build your dream home from the ground up or seeking a savvy investment opportunity to flip and resell, this structure can be demolished and ready for full potential. Located in an established neighborhood with existing utilities and infrastructure already in place, this is your opportunity to bring your plans to life without starting from scratch.

4. 2025-06-17
   status Pending 605-char remark

   Show marketing remark (605 chars)

   This 0.22 acres lot offers a rare chance to start fresh and create something truly special. While the previous structure was lost to fire, this is your chance to wipe the lot clean making way for a brand-new vision to take root. Whether you're looking to build your dream home from the ground up or seeking a savvy investment opportunity to flip and resell, this structure can be demolished and ready for full potential. Located in an established neighborhood with existing utilities and infrastructure already in place, this is your opportunity to bring your plans to life without starting from scratch.

5. 2025-06-14
   listed $20,000 Active 605-char remark

   Show marketing remark (605 chars)

   This 0.22 acres lot offers a rare chance to start fresh and create something truly special. While the previous structure was lost to fire, this is your chance to wipe the lot clean making way for a brand-new vision to take root. Whether you're looking to build your dream home from the ground up or seeking a savvy investment opportunity to flip and resell, this structure can be demolished and ready for full potential. Located in an established neighborhood with existing utilities and infrastructure already in place, this is your opportunity to bring your plans to life without starting from scratch.

6. 2025-02-28
   status Pending

   Show marketing remark (477 chars)

   Fixxer-upper in an up and coming area**Roof replaced on the house and garage 7/2023**3 Bedrooms on the Main level, Living Room, Dining Room, and Kitchen***2 Bedrooms in upstairs attic**Furnace is 6 years old**Sewer line is 3 years old**Full basement**Large covered porch***Minutes from White River State Park, Back 9 Golf, Rhodius Park, Lucas Oil Stadium, Victory Field, Biltwell Event Center, Indianapolis Zoo, Convention Center**Detached 2 car garage**Immediate possession**

7. 2025-02-28
   soldstatus $110,000 Closed

   Show marketing remark (477 chars)

   Fixxer-upper in an up and coming area**Roof replaced on the house and garage 7/2023**3 Bedrooms on the Main level, Living Room, Dining Room, and Kitchen***2 Bedrooms in upstairs attic**Furnace is 6 years old**Sewer line is 3 years old**Full basement**Large covered porch***Minutes from White River State Park, Back 9 Golf, Rhodius Park, Lucas Oil Stadium, Victory Field, Biltwell Event Center, Indianapolis Zoo, Convention Center**Detached 2 car garage**Immediate possession**

8. 2024-02-22
   status Active

   Show marketing remark (477 chars)

   Fixxer-upper in an up and coming area**Roof replaced on the house and garage 7/2023**3 Bedrooms on the Main level, Living Room, Dining Room, and Kitchen***2 Bedrooms in upstairs attic**Furnace is 6 years old**Sewer line is 3 years old**Full basement**Large covered porch***Minutes from White River State Park, Back 9 Golf, Rhodius Park, Lucas Oil Stadium, Victory Field, Biltwell Event Center, Indianapolis Zoo, Convention Center**Detached 2 car garage**Immediate possession**

9. 2024-02-19
   status Pending

   Show marketing remark (477 chars)

   Fixxer-upper in an up and coming area**Roof replaced on the house and garage 7/2023**3 Bedrooms on the Main level, Living Room, Dining Room, and Kitchen***2 Bedrooms in upstairs attic**Furnace is 6 years old**Sewer line is 3 years old**Full basement**Large covered porch***Minutes from White River State Park, Back 9 Golf, Rhodius Park, Lucas Oil Stadium, Victory Field, Biltwell Event Center, Indianapolis Zoo, Convention Center**Detached 2 car garage**Immediate possession**

10. 2023-05-08
    listed $119,900 Active

    Show marketing remark (477 chars)

    Fixxer-upper in an up and coming area**Roof replaced on the house and garage 7/2023**3 Bedrooms on the Main level, Living Room, Dining Room, and Kitchen***2 Bedrooms in upstairs attic**Furnace is 6 years old**Sewer line is 3 years old**Full basement**Large covered porch***Minutes from White River State Park, Back 9 Golf, Rhodius Park, Lucas Oil Stadium, Victory Field, Biltwell Event Center, Indianapolis Zoo, Convention Center**Detached 2 car garage**Immediate possession**

11. 2022-09-08
    listed $79,900 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: $971 · $81/mo
• Projected year-2 tax: $1,208 · $101/mo
• Expected delta: +$237/yr (+$20/mo · 24.4%)

ⓘ 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 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: $20,778
• − Mortgage interest: −$9,517
• − Property taxes: −$971
• − Insurance: −$850
• − Repairs & maintenance: −$1,662
• − Management: −$1,662
• − Depreciation: −$4,943
• Taxable income: $1,174
• Est. tax owed @ 24.0%: −$282
• After-tax cash flow: $3,621/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): 27,027
• Household income: $65,280
• Rent vs Own: 38.2% rent · 61.8% own
• Severe rent burden: 1011.0

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% Black 13% Hispanic / Latino 13% Two or more races 7%
• Hispanic origin (detail): Mexican 7%
• Common ancestry: Italian 2% Iranian 2% Lithuanian 2%
• Foreign-born: 9% · Canada, China
• Languages at home: 87% English-only · Spanish 9% Arabic 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: ▼ -97.56%
• Current HPI: 313.4711
• Rent YoY: ▲ 1.79%
• 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

+112.6% since first listed

11 events — show timeline

• 2026-05-17 Pending — MIBOR as Distributed by MLS Grid
• 2026-05-14 Listed $169,900 MIBOR as Distributed by MLS Grid
• 2025-07-18 Sold (MLS) $20,000 MIBOR as Distributed by MLS Grid
• 2025-06-17 Pending — MIBOR as Distributed by MLS Grid
• 2025-06-14 Listed $20,000 MIBOR as Distributed by MLS Grid
• 2025-02-28 Pending — MIBOR as Distributed by MLS Grid
• 2025-02-28 Sold (MLS) $110,000 MIBOR as Distributed by MLS Grid
• 2024-02-22 Relisted — MIBOR as Distributed by MLS Grid
• 2024-02-19 Pending — MIBOR as Distributed by MLS Grid
• 2023-05-08 Listed $119,900 MIBOR as Distributed by MLS Grid
• 2022-09-08 Listed $79,900 MIBOR as Distributed by MLS Grid

Property tax history

+11.2%/yr

Latest (2025): $971 · +10.3% YoY. Source: county tax records.