3514 Harvest Ave · Indianapolis city (balance), IN 46226

$169,900

3 bd · 1.5 ba · 1,960 sqft · SingleFamily public records · 93 Days on market

Built 1963 7,100 sqft lot $87/sqft · 13% below area Est $195k · 13% 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).

• ARV discount +13.2/15.0
• Cash flow +12.7/30.0
• Rent growth +4.2/5.0
• 1% rule +4.1/10.0
• DSCR +3.8/10.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.4/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Situated at 3514 Harvest AVE in INDIANAPOLIS, IN, USA, this single family residence presents an inviting home, thoroughly prepared for immediate occupancy. Spanning 1960 square feet of living area, the home embraces an open floor plan, fostering a sense of spaciousness and effortless interaction throughout the main living zones. The kitchen, a central gathering space, is thoughtfully appointed with classic shaker cabinets, offering both timeless appeal and practical storage solutions for culinary pursuits. Among the five generously proportioned bedrooms, one offers the added comfort of an ensuite bathroom, providing a private sanctuary within the home. The residence also features a second full bathroom, thoughtfully designed to accommodate daily routines. Constructed in 1963, this two-story dwelling occupies a substantial 7100 square feet lot, providing ample exterior space surrounding the structure. This remarkable residence truly embodies a desirable dwelling where comfort and practical living converge.

Key facts

• 7,100 sq ft lot
• Garage
• Built 1963

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $170k.

Deal economics

• At list price, monthly cash flow is $-20 ($-239/yr) — negative.
• To cash-flow at today's rent, offer at most $166k (2.1% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $155k (8.7% below list).
• Recommended offer: $155k (9.0% below list) — sets the bar for market timing.
• Cap rate 6.2% 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 fast (+6.8%/yr); 151 active listings in the ZIP; 14 comparable units currently listed for rent nearby; rentals at typical pace (median 24d 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 37% of the median local income ($50k/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

• It's been on market 93 days — a 9% lower offer ($155k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 16y ago; this cycle's ask has dropped $25k (13%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $51k; list at $170k implies a 233% gain — meaningful room to come down on a strong offer.

Recommended offer $154,609 (9.0% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 93 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
3. Built in 1963 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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.
8. 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.
9. 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: 0.91% ✗
• Cap rate: 6.15%
• Cash-on-cash: -0.50%
• DSCR: 0.98
• GRM: 9.1

CMA / ARV

• ARV (median comp): $194,764
• List price: $169,900
• Delta: -12.77%
• 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
3537 Cecil Ave	0.05mi	3/1.5	1,960 (0%)	1mo	$165,000	$84	97
3544 Cecil Ave	0.08mi	4/1.5 (+1)	1,960 (0%)	6mo	$175,000	$89	87
7919 Penway St	0.38mi	4/2.0 (+1)	2,000 (+2%)	2mo	$175,000	$88	70
3630 Alsace Dr	0.19mi	3/1.0	1,722 (-12%)	5mo	$185,000	$107	65
3608 Tiffany Dr	0.24mi	4/2.0 (+1)	1,788 (-9%)	4mo	$218,500	$122	64
3675 Dubarry Rd	0.45mi	4/2.0 (+1)	2,035 (+4%)	4mo	$215,000	$106	62
3607 Wellington Ave	0.42mi	3/1.5	2,134 (+9%)	5mo	$163,000	$76	61
3909 Richelieu Ct	0.54mi	4/2.0 (+1)	1,850 (-6%)	2mo	$218,000	$118	57
3449 Seine Ct	0.51mi	4/1.5 (+1)	2,160 (+10%)	2mo	$195,000	$90	52
7602 Penway St	0.68mi	4/2.0 (+1)	2,080 (+6%)	3mo	$235,000	$113	48
3976 Marseille Rd	0.70mi	3/2.0	2,206 (+13%)	1mo	$195,000	$88	44
3771 Decamp Dr	0.48mi	4/2.5 (+1)	1,692 (-14%)	5mo	$211,000	$125	41

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 · 6.76% rent growth · sell at horizon

5-year hold

• IRR: -12.7%
• Equity multiple: 0.52×
• Total profit: $-22,642
• Equity at exit: $25,333

10-year hold

• IRR: 1.5%
• Equity multiple: 1.12×
• Total profit: $5,924
• 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 46226

• Rents YoY: 6.8%
• Active inventory: 151
• Price-to-rent: 9.1×

Monthly cashflow live

• Estimated rent: $1,551 high
• Mortgage (P&I): −$891
• Tax from tax record: −$283 /mo · $3,400/yr
• Insurance: −$71
• HOA: −$0
• Vacancy / Maint / Mgmt: −$326
• Net cashflow: $-20

Break-even live

Break-even rent $1,576

Max offer price $166,387

Occupancy floor 96%

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
8203 Penway St Indianapolis, IN	3.0	1.5	1360	$1,500	$1.10	23d	1	0.18mi
7937 E 34th St Indianapolis, IN	4.0	1.0	1450	$2,000	$1.38	23d	1	0.34mi
3540 Dubarry Ct Indianapolis, IN	3.0	2.0	1297	$1,400	$1.08	23d	1	0.48mi
7531 Penway St Indianapolis, IN	3.0	1.5	1237	$1,551	$1.25	7d	1	0.71mi
8738 Montery Rd Indianapolis, IN	3.0	1.0	1421	$1,396	$0.98	7d	1	0.79mi
8914 Elmonte Dr Indianapolis, IN	3.0	1.5	1500	$1,600	$1.07	23d	1	0.88mi
3644 Celtic Dr Indianapolis, IN	4.0	1.5	1637	$1,500	$0.92	14d	1	0.94mi
8501 Athens Ct Indianapolis, IN	4.0	1.0	1225	$1,475	$1.20	14d	1	0.96mi
8254 Meadowlark Dr Indianapolis, IN	3.0	1.5	1320	$1,150	$0.87	21d	1	1.03mi
8254 Meadowlark Dr Unit 1 Indianapolis, IN	3.0	1.5	1320	$1,150	$0.87	43d	1	1.03mi
3722 Ireland Dr Indianapolis, IN	3.0	2.0	1682	$1,700	$1.01	43d	1	1.04mi
3747 Ireland Dr Indianapolis, IN	4.0	1.5	1400	$1,700	$1.21	23d	1	1.08mi
3775 Allerton Pl Indianapolis, IN	1.0–4.0	2.0	1068	$1,617	$1.51	13d	1	1.12mi
9513 Baker Ct Indianapolis, IN	4.0	2.0	1702	$1,825	$1.07	7d	1	1.32mi

Listing history 25 events

1. 2026-06-18
   days on market $169,900 Active 93 DOM
2. 2026-06-17
   days on market $169,900 Active 92 DOM
3. 2026-06-16
   days on market $169,900 Active 91 DOM
4. 2026-06-15
   days on market $169,900 Active 90 DOM
5. 2026-06-13
   days on market $169,900 Active 88 DOM
6. 2026-06-13
   pricedays on market $169,900 Active 87 DOM
7. 2026-06-09
   days on market $174,900 Active 84 DOM
8. 2026-06-08
   days on market $174,900 Active 83 DOM
9. 2026-06-07
   days on market $174,900 Active 82 DOM
10. 2026-06-03
    days on market $174,900 Active 78 DOM
11. 2026-06-02
    days on market $174,900 Active 77 DOM
12. 2026-06-01
    days on market $174,900 Active 76 DOM
13. 2026-05-31
    price $174,900 Active 75 DOM
14. 2026-05-31
    days on market $179,900 Active 75 DOM
15. 2026-05-04
    price $179,900 1024-char remark

    Show marketing remark (1024 chars)

    Situated at 3514 Harvest AVE in INDIANAPOLIS, IN, USA, this single family residence presents an inviting home, thoroughly prepared for immediate occupancy. Spanning 1960 square feet of living area, the home embraces an open floor plan, fostering a sense of spaciousness and effortless interaction throughout the main living zones. The kitchen, a central gathering space, is thoughtfully appointed with classic shaker cabinets, offering both timeless appeal and practical storage solutions for culinary pursuits. Among the five generously proportioned bedrooms, one offers the added comfort of an ensuite bathroom, providing a private sanctuary within the home. The residence also features a second full bathroom, thoughtfully designed to accommodate daily routines. Constructed in 1963, this two-story dwelling occupies a substantial 7100 square feet lot, providing ample exterior space surrounding the structure. This remarkable residence truly embodies a desirable dwelling where comfort and practical living converge.

16. 2026-04-16
    price $184,900 1024-char remark

    Show marketing remark (1024 chars)

    Situated at 3514 Harvest AVE in INDIANAPOLIS, IN, USA, this single family residence presents an inviting home, thoroughly prepared for immediate occupancy. Spanning 1960 square feet of living area, the home embraces an open floor plan, fostering a sense of spaciousness and effortless interaction throughout the main living zones. The kitchen, a central gathering space, is thoughtfully appointed with classic shaker cabinets, offering both timeless appeal and practical storage solutions for culinary pursuits. Among the five generously proportioned bedrooms, one offers the added comfort of an ensuite bathroom, providing a private sanctuary within the home. The residence also features a second full bathroom, thoughtfully designed to accommodate daily routines. Constructed in 1963, this two-story dwelling occupies a substantial 7100 square feet lot, providing ample exterior space surrounding the structure. This remarkable residence truly embodies a desirable dwelling where comfort and practical living converge.

17. 2026-04-06
    price $189,900 1024-char remark

    Show marketing remark (1024 chars)

    Situated at 3514 Harvest AVE in INDIANAPOLIS, IN, USA, this single family residence presents an inviting home, thoroughly prepared for immediate occupancy. Spanning 1960 square feet of living area, the home embraces an open floor plan, fostering a sense of spaciousness and effortless interaction throughout the main living zones. The kitchen, a central gathering space, is thoughtfully appointed with classic shaker cabinets, offering both timeless appeal and practical storage solutions for culinary pursuits. Among the five generously proportioned bedrooms, one offers the added comfort of an ensuite bathroom, providing a private sanctuary within the home. The residence also features a second full bathroom, thoughtfully designed to accommodate daily routines. Constructed in 1963, this two-story dwelling occupies a substantial 7100 square feet lot, providing ample exterior space surrounding the structure. This remarkable residence truly embodies a desirable dwelling where comfort and practical living converge.

18. 2026-03-17
    listed $194,900 Active 1024-char remark

    Show marketing remark (1024 chars)

    Situated at 3514 Harvest AVE in INDIANAPOLIS, IN, USA, this single family residence presents an inviting home, thoroughly prepared for immediate occupancy. Spanning 1960 square feet of living area, the home embraces an open floor plan, fostering a sense of spaciousness and effortless interaction throughout the main living zones. The kitchen, a central gathering space, is thoughtfully appointed with classic shaker cabinets, offering both timeless appeal and practical storage solutions for culinary pursuits. Among the five generously proportioned bedrooms, one offers the added comfort of an ensuite bathroom, providing a private sanctuary within the home. The residence also features a second full bathroom, thoughtfully designed to accommodate daily routines. Constructed in 1963, this two-story dwelling occupies a substantial 7100 square feet lot, providing ample exterior space surrounding the structure. This remarkable residence truly embodies a desirable dwelling where comfort and practical living converge.

19. 2017-09-25
    soldstatus $51,000
20. 2017-08-22
    soldstatus $51,000 Sold 377-char remark

    Show marketing remark (377 chars)

    Check out all this SPACE!! A fantastic kitchen boasts tons of cabinet space that opens up into a living room with hardwood floors. The home has been recently painted and is ready for your finishing touches. The home has 4 good size bedrooms, 1 and 1/2 baths and tons of living space with the separate family room, living room and bonus room that could be an additional bedroom!

21. 2017-05-22
    status Pending 377-char remark

    Show marketing remark (377 chars)

    Check out all this SPACE!! A fantastic kitchen boasts tons of cabinet space that opens up into a living room with hardwood floors. The home has been recently painted and is ready for your finishing touches. The home has 4 good size bedrooms, 1 and 1/2 baths and tons of living space with the separate family room, living room and bonus room that could be an additional bedroom!

22. 2017-05-12
    listed $54,000 Active 377-char remark

    Show marketing remark (377 chars)

    Check out all this SPACE!! A fantastic kitchen boasts tons of cabinet space that opens up into a living room with hardwood floors. The home has been recently painted and is ready for your finishing touches. The home has 4 good size bedrooms, 1 and 1/2 baths and tons of living space with the separate family room, living room and bonus room that could be an additional bedroom!

23. 2010-01-29
    historical
24. 2010-01-29
    soldstatus $29,000
25. 2010-01-05
    listed $34,900

ⓘ 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: $3,400 · $283/mo
• Projected year-2 tax: $3,400 · $283/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 ≥101°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 3 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $18,611
• − Mortgage interest: −$9,517
• − Property taxes: −$3,400
• − Insurance: −$850
• − Repairs & maintenance: −$1,489
• − Management: −$1,489
• − Depreciation: −$4,943
• Taxable loss: −$3,076
• Est. tax savings @ 24.0%: +$738
• After-tax cash flow: $500/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): 47,099
• Household income: $50,325
• Rent vs Own: 53.8% rent · 46.2% own
• Severe rent burden: 2742.0

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 0.62)
• Race & ethnicity: Black 53% White 25% Hispanic / Latino 17% Two or more races 9% Asian 2%
• Hispanic origin (detail): Mexican 11%
• Common ancestry: Lithuanian 1% Italian 1% Romanian 1%
• Foreign-born: 11% · Canada
• Languages at home: 86% English-only · Spanish 10% French/Haitian/Cajun 1% Other Asian/Pacific 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: ▼ -218.85%
• Current HPI: 239.43
• Rent YoY: ▲ 6.76%
• 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

+415.5% since first listed

11 events — show timeline

• 2026-05-04 Price Changed $179,900 MIBOR as Distributed by MLS Grid
• 2026-04-16 Price Changed $184,900 MIBOR as Distributed by MLS Grid
• 2026-04-06 Price Changed $189,900 MIBOR as Distributed by MLS Grid
• 2026-03-17 Listed $194,900 MIBOR as Distributed by MLS Grid
• 2017-09-25 Sold (Public Records) $51,000 Public Records
• 2017-08-22 Sold (MLS) $51,000 MIBOR as Distributed by MLS Grid
• 2017-05-22 Pending — MIBOR as Distributed by MLS Grid
• 2017-05-12 Listed $54,000 MIBOR as Distributed by MLS Grid
• 2010-01-29 Listing Removed — MIBOR as Distributed by MLS Grid
• 2010-01-29 Sold (MLS) $29,000 MIBOR as Distributed by MLS Grid
• 2010-01-05 Listed $34,900 MIBOR as Distributed by MLS Grid

Property tax history

+9.6%/yr

Latest (2025): $3,400 · +30.5% YoY. Source: county tax records.