1929 N Linwood Ave · Indianapolis city (balance), IN 46218

$97,300

2 bd · 1.0 ba · 728 sqft · SingleFamily public records · 91 Days on market

Built 1949 5,401 sqft lot $134/sqft · 31% above area Est $147k · 34% 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).

• Cash flow +15.5/30.0
• ARV discount +15.0/15.0
• 1% rule +4.8/10.0
• DSCR +4.8/10.0
• 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

Listing remarks MLS

This charming cottage makes a great first impression with its cozy feel and inviting simplicity. Step inside and you'll find a space that's easy to live in, easy to maintain, and full of potential for someone looking to make it their own. Whether you're starting out, downsizing, or searching for a smart investment, this home is one you'll want to see in person. Built in 1949, this single-family cottage offers 728 square feet per county records and features a low-maintenance vinyl exterior. The one-level layout includes two bedrooms and one full bathroom, providing comfortable, efficient living without wasted space. With no garage, the home offers convenient street parking and a straightforward lifestyle that keeps things simple and affordable.

Key facts

• One level layout
• 5,401 sq ft lot
• Built 1949

Tags

• LOW MAINTENANCE VINYL EXTERIOR
• ONE LEVEL LAYOUT
• CONVENIENT STREET PARKING

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $97k.

Deal economics

• At list price, monthly cash flow is $40 ($477/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $96k (1.8% below list).
• Recommended offer: $89k (9.0% below list) — sets the bar for market timing.
• Cap rate 6.8% 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 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).
• This rent runs 30% of the median local income ($38k/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 $673 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.

Negotiation context

• It's been on market 91 days — a 9% lower offer ($89k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 23y ago; this cycle's ask has dropped $10k (9%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $30k; list at $97k implies a 219% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1949 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $88,543 (9.0% below list)

Questions for the listing agent

1. It's been on market 91 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1949 — 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. 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?
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 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: 0.98% ✗
• Cap rate: 6.78%
• Cash-on-cash: 1.75%
• DSCR: 1.08
• GRM: 8.5

CMA / ARV

• ARV (median comp): $147,403
• List price: $97,300
• Delta: -33.99%
• 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
1937 N Colorado Ave	0.13mi	2/1.0	720 (-1%)	16mo	$165,000	$229	79
2048 N Euclid Ave	0.18mi	2/1.0	688 (-6%)	5mo	$62,500	$91	78
4733 E 18th St	0.29mi	2/1.0	748 (+3%)	10mo	$100,000	$134	74
2173 N Drexel Ave	0.38mi	2/1.0	728 (0%)	15mo	$135,000	$185	70
1726 N Euclid Ave	0.21mi	2/1.0	672 (-8%)	12mo	$97,000	$144	68
2181 N Linwood Ave	0.36mi	2/1.0	720 (-1%)	18mo	$65,000	$90	66
1910 N Riley Ave	0.39mi	2/1.0	708 (-3%)	17mo	$95,000	$134	63
4522 E 17th St	0.24mi	3/1.0 (+1)	768 (+6%)	17mo	$145,000	$189	60
1518 N Chester Ave	0.51mi	2/1.0	672 (-8%)	4mo	$114,555	$170	60
4514 E 17th St	0.23mi	3/2.0 (+1)	804 (+10%)	17mo	$139,999	$174	48
2203 N Drexel Ave	0.40mi	2/1.0	835 (+15%)	14mo	$30,000	$36	45
1536 N Sherman Dr	0.63mi	2/1.0	816 (+12%)	7mo	$55,000	$67	44

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: -16.1%
• Equity multiple: 0.44×
• Total profit: $-15,253
• Equity at exit: $14,508

10-year hold

• IRR: -12.4%
• Equity multiple: 0.34×
• Total profit: $-17,946
• Equity at exit: $8,413

Cash invested: $27,244 (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: 8.5×

Monthly cashflow live

• Estimated rent: $955 high
• Mortgage (P&I): −$510
• Tax from tax record: −$164 /mo · $1,969/yr
• Insurance: −$41
• HOA: −$0
• Vacancy / Maint / Mgmt: −$201
• Net cashflow: $40

Break-even live

Break-even rent $905

Max offer price $97,300

Occupancy floor 91%

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: $24,325
• Closing costs: $2,919
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1951 N Bosart Ave Indianapolis, IN	2.0	1.0	728	$1,000	$1.37	3d	1	0.17mi
2030 N Colorado Ave Indianapolis, IN	2.0	1.0	728	$1,150	$1.58	23d	1	0.22mi
1824 N Riley Ave Indianapolis, IN	2.0	1.0	720	$1,150	$1.60	43d	1	0.39mi
1512 N Gladstone Ave Unit 1510 1510 Indianapolis, IN	1.0	1.0	570	$830	$1.46	14d	1	0.42mi
1510 N Gladstone Ave Indianapolis, IN	1.0	1.0	570	$765	$1.34	43d	1	0.42mi
1531 N Grant Ave Indianapolis, IN	1.0	1.0	611	$875	$1.43	23d	1	0.43mi
1538 N Grant Ave Indianapolis, IN	1.0	1.0	375	$700	$1.87	43d	1	0.43mi
1450 N Gladstone Ave Indianapolis, IN	1.0	1.0	588	$799	$1.36	43d	1	0.47mi
1432 N Colorado Ave Indianapolis, IN	1.0	1.0	584	$875	$1.50	23d	1	0.49mi
1518 N Chester Ave Indianapolis, IN	2.0	1.0	672	$700	$1.04	7d	1	0.49mi
1327 N Chester Ave Indianapolis, IN	1.0	1.0	600	$795	$1.32	13d	1	0.63mi
3709 Brookside Parkway South Dr Indianapolis, IN	1.0	1.0	742	$825	$1.11	23d	1	0.63mi
1306 N Chester Ave Indianapolis, IN	1.0	1.0	600	$800	$1.33	20d	1	0.68mi
5242 E 20th Pl Indianapolis, IN	2.0	1.0	720	$1,050	$1.46	7d	1	0.76mi
5322 E 19th Pl Indianapolis, IN	2.0	1.0	720	$945	$1.31	43d	1	0.83mi
1358 N Gale St Indianapolis, IN	1.0	1.0	550	$890	$1.62	16d	1	0.84mi
896 N Gladstone Ave Indianapolis, IN	1.0	1.0	580	$775	$1.34	43d	1	0.92mi
1301 N Olney St Unit 1303 Indianapolis, IN	2.0	1.0	750	$1,100	$1.47	43d	1	0.93mi
927 N Chester Ave Indianapolis, IN	1.0	1.0	596	$750	$1.26	43d	1	0.95mi
1106 N Gale St Unit 1 Indianapolis, IN	2.0	1.0	750	$895	$1.19	43d	1	0.99mi
833 N Gladstone Ave Indianapolis, IN	1.0	1.0	687	$825	$1.20	23d	1	1.01mi
1702 N Ritter Ave Indianapolis, IN	2.0	1.0	750	$1,200	$1.60	3d	1	1.02mi
830 N Emerson Ave Indianapolis, IN	1.0	1.0	560	$850	$1.52	43d	1	1.04mi
831 N Emerson Ave Indianapolis, IN	1.0	1.0	647	$1,000	$1.55	23d	1	1.05mi
810 N Euclid Ave Indianapolis, IN	3.0	1.0	574	$1,550	$2.70	19d	1	1.06mi
2312 N Ritter Ave Apt 31 Indianapolis, IN	2.0	1.0	725	$825	$1.14	21d	1	1.06mi
1028 N Olney St Unit 1030 Indianapolis, IN	1.0	1.0	700	$800	$1.14	23d	1	1.07mi
2302 N Ritter Ave Indianapolis, IN	2.0	1.0	725	$788	$1.09	7d	2	1.08mi
821 N Bradley Ave Indianapolis, IN	1.0	1.0	663	$850	$1.28	4d	1	1.10mi
2304 N Ritter Ave Apt 9 Indianapolis, IN	2.0	1.0	725	$799	$1.10	20d	1	1.10mi
2308 N Ritter Ave Apt 24 Indianapolis, IN	2.0	1.0	725	$825	$1.14	20d	1	1.10mi
1036 N Tuxedo St Indianapolis, IN	1.0	1.0	646	$750	$1.16	4d	1	1.11mi
2422 Adams St Unit 2 Indianapolis, IN	1.0	1.0	700	$850	$1.21	43d	1	1.11mi
3058 Brookside Parkway North Dr Indianapolis, IN	1.0	1.0	700	$875	$1.25	12d	1	1.11mi
1931 N Oxford St Indianapolis, IN	1.0	1.0	616	$875	$1.42	3d	1	1.12mi
2722 N Olney St Indianapolis, IN	2.0	1.0	650	$795	$1.22	43d	1	1.18mi
1114 N Dearborn St Indianapolis, IN	1.0	1.0	646	$795	$1.23	44d	1	1.20mi
2827 E 18th St Indianapolis, IN	2.0	1.0	726	$1,300	$1.79	23d	1	1.20mi
4615 E 30th St Indianapolis, IN	2.0	1.0	660	$1,100	$1.67	23d	1	1.22mi
2449 Wheeler St Indianapolis, IN	1.0	1.0	600	$950	$1.58	23d	1	1.27mi

Listing history 8 events

1. 2026-05-11
   status Active 756-char remark

   Show marketing remark (756 chars)

   This charming cottage makes a great first impression with its cozy feel and inviting simplicity. Step inside and you'll find a space that's easy to live in, easy to maintain, and full of potential for someone looking to make it their own. Whether you're starting out, downsizing, or searching for a smart investment, this home is one you'll want to see in person. Built in 1949, this single-family cottage offers 728 square feet per county records and features a low-maintenance vinyl exterior. The one-level layout includes two bedrooms and one full bathroom, providing comfortable, efficient living without wasted space. With no garage, the home offers convenient street parking and a straightforward lifestyle that keeps things simple and affordable.

2. 2026-05-07
   status Pending 756-char remark

   Show marketing remark (756 chars)

   This charming cottage makes a great first impression with its cozy feel and inviting simplicity. Step inside and you'll find a space that's easy to live in, easy to maintain, and full of potential for someone looking to make it their own. Whether you're starting out, downsizing, or searching for a smart investment, this home is one you'll want to see in person. Built in 1949, this single-family cottage offers 728 square feet per county records and features a low-maintenance vinyl exterior. The one-level layout includes two bedrooms and one full bathroom, providing comfortable, efficient living without wasted space. With no garage, the home offers convenient street parking and a straightforward lifestyle that keeps things simple and affordable.

3. 2026-03-31
   price $97,300 756-char remark

   Show marketing remark (756 chars)

   This charming cottage makes a great first impression with its cozy feel and inviting simplicity. Step inside and you'll find a space that's easy to live in, easy to maintain, and full of potential for someone looking to make it their own. Whether you're starting out, downsizing, or searching for a smart investment, this home is one you'll want to see in person. Built in 1949, this single-family cottage offers 728 square feet per county records and features a low-maintenance vinyl exterior. The one-level layout includes two bedrooms and one full bathroom, providing comfortable, efficient living without wasted space. With no garage, the home offers convenient street parking and a straightforward lifestyle that keeps things simple and affordable.

4. 2026-02-20
   listed $107,300 Active 756-char remark

   Show marketing remark (756 chars)

   This charming cottage makes a great first impression with its cozy feel and inviting simplicity. Step inside and you'll find a space that's easy to live in, easy to maintain, and full of potential for someone looking to make it their own. Whether you're starting out, downsizing, or searching for a smart investment, this home is one you'll want to see in person. Built in 1949, this single-family cottage offers 728 square feet per county records and features a low-maintenance vinyl exterior. The one-level layout includes two bedrooms and one full bathroom, providing comfortable, efficient living without wasted space. With no garage, the home offers convenient street parking and a straightforward lifestyle that keeps things simple and affordable.

5. 2004-02-09
   soldstatus $30,500 215-char remark

   Show marketing remark (215 chars)

   2 BEDROOM/1 FULL BATH HOME. SUBJECT IS BANK OWNED & BEING SOLD 'AS IS'. MUST SUBMIT PROOF OF FUNDS OR PRE APPROVAL LTR WITH OFFER. PRICED TO SELL & EASY TO SHOW.-SELLER WILL PAY $1000 BONUS TO SELLING AGENT.

6. 2003-12-09
   listed $32,500 215-char remark

   Show marketing remark (215 chars)

   2 BEDROOM/1 FULL BATH HOME. SUBJECT IS BANK OWNED & BEING SOLD 'AS IS'. MUST SUBMIT PROOF OF FUNDS OR PRE APPROVAL LTR WITH OFFER. PRICED TO SELL & EASY TO SHOW.-SELLER WILL PAY $1000 BONUS TO SELLING AGENT.

7. 2003-08-25
   historical
8. 2003-03-05
   listed $57,500

ⓘ 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: $1,969 · $164/mo
• Projected year-2 tax: $1,969 · $164/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 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: $11,462
• − Mortgage interest: −$5,450
• − Property taxes: −$1,969
• − Insurance: −$486
• − Repairs & maintenance: −$917
• − Management: −$917
• − Depreciation: −$2,831
• Taxable loss: −$1,108
• Est. tax savings @ 24.0%: +$266
• After-tax cash flow: $743/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

+69.2% since first listed

8 events — show timeline

• 2026-05-11 Relisted — MIBOR as Distributed by MLS Grid
• 2026-05-07 Pending — MIBOR as Distributed by MLS Grid
• 2026-03-31 Price Changed $97,300 MIBOR as Distributed by MLS Grid
• 2026-02-20 Listed $107,300 MIBOR as Distributed by MLS Grid
• 2004-02-09 Sold (MLS) $30,500 MIBOR as Distributed by MLS Grid
• 2003-12-09 Listed $32,500 MIBOR as Distributed by MLS Grid
• 2003-08-25 Listing Removed — MIBOR as Distributed by MLS Grid
• 2003-03-05 Listed $57,500 MIBOR as Distributed by MLS Grid

Property tax history

+6.9%/yr

Latest (2025): $1,969 · +11.7% YoY. Source: county tax records.