4209 Lesley Ave · Indianapolis city (balance), IN 46226

$99,000

3 bd · 1.5 ba · 1,025 sqft · SingleFamily public records · 5 Days on market

Built 1953 0.34 ac lot Est $139k · 29% 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 +25.8/30.0
• ARV discount +15.0/15.0
• DSCR +8.6/10.0
• 1% rule +8.1/10.0
• Rent growth +4.2/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.4/10.0
• Appreciation +0.0/10.0

Listing remarks

Step right up, folks, and feast your eyes on 4209 Lesley AVE, a charming single-family residence in INDIANAPOLIS, IN. PERFECT for investors or anyone wanting to add to their portfilio! Large Back Yard , There's plenty of space for everyone to spread out and dream big.

Key facts

• Large back yard
• 0.34 acre lot
• 2 garage spots

Tags

• LARGE BACK YARD

Property features AI

Exterior

• Parking: Detached 2-car garage (528 sq ft)
• Utilities: Public water; Municipal sewer connected; No solid waste service listed
• Home design: Single-family residence; Attached property; One level
• Construction: Vinyl with brick exterior; Concrete perimeter foundation
• Exterior features: Approximately 0.35 acre lot (about 1/4–1/2 acre); Property faces east

Interior

• Kitchen: Refrigerator included
• Bedrooms: Three bedrooms on the main level
• Flooring: Luxury vinyl plank throughout main living areas and bedrooms
• Bathrooms: One full bathroom; One half bathroom
• Heating & cooling: Forced air heating (natural gas); Central air conditioning
• Interior features: Attic access; Living room with luxury vinyl plank flooring; Dining room with luxury vinyl plank flooring; Kitchen with luxury vinyl plank flooring; Laundry room with luxury vinyl plank flooring; Additional main-level room with luxury vinyl plank flooring
• Laundry & utility: Main-level laundry room

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $99k.

Deal economics

• At list price, monthly cash flow is $239 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $99k).
• Cap rate 9.2% 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 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 rising fast (+6.8%/yr); 151 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); 42% of comp listings sitting > 30 days — soft ceiling on asking rent; 1,906 units permitted in Marion County in 2024 (621 in 5+ unit buildings).
• This rent runs 31% 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 $684 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.
• At projected returns (-3.0% appreciation + 6.8% rent growth), your $28k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• Only 5 days on market — expect competitive offers; lowballing is unlikely to land.
• 7 sale attempts since 18y 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 $19k; list at $99k implies a 432% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 2.7% of price; built in 1953 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $99,000

Questions for the listing agent

1. Built in 1953 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 1.31% ✓
• Cap rate: 9.20%
• Cash-on-cash: 10.37%
• DSCR: 1.46
• GRM: 6.4

CMA / ARV

• ARV (on-the-fly): $139,400
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
5605 Glencoe St	0.22mi	4/1.5 (+1)	1,056 (+3%)	10mo	$158,500	$150	71
3904 N Graham Ave	0.43mi	3/1.0	1,080 (+5%)	1mo	$107,000	$99	68
5601 Glencoe St	0.22mi	3/1.0	1,152 (+12%)	9mo	$173,000	$150	60
4002 N Catherwood Ave	0.57mi	4/1.0 (+1)	984 (-4%)	2mo	$125,000	$127	58
4101 N Arlington Ave	0.45mi	3/1.0	944 (-8%)	6mo	$145,000	$154	58
3938 N Grand Ave	0.64mi	3/1.0	993 (-3%)	9mo	$135,000	$136	55
4464 N Campbell Ave	0.46mi	3/1.5	1,176 (+15%)	5mo	$160,000	$136	50
4509 Priscilla Ave	0.46mi	3/1.0	1,176 (+15%)	3mo	$125,000	$106	50
4071 Sawyer St	0.59mi	3/1.0	964 (-6%)	14mo	$36,000	$37	49
4463 N Bolton Ave	0.44mi	3/1.0	1,176 (+15%)	6mo	$148,500	$126	48
3715 N Irvington Ave	0.70mi	4/1.0 (+1)	1,104 (+8%)	5mo	$120,000	$109	43
4514 Priscilla Ave	0.46mi	3/1.0	1,176 (+15%)	11mo	$180,000	$153	42

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: 3.9%
• Equity multiple: 1.16×
• Total profit: $4,384
• Equity at exit: $14,761

10-year hold

• IRR: 17.0%
• Equity multiple: 2.67×
• Total profit: $46,376
• Equity at exit: $8,560

Cash invested: $27,720 (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: 6.4×

Monthly cashflow live

• Estimated rent: $1,298 high
• Mortgage (P&I): −$519
• Tax from tax record: −$225 /mo · $2,702/yr
• Insurance: −$41
• HOA: −$0
• Vacancy / Maint / Mgmt: −$272
• Net cashflow: $239

Break-even live

Break-even rent $994

Max offer price $99,000

Occupancy floor 77%

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: $24,750
• Closing costs: $2,970
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5602 Glencoe St Indianapolis, IN	3.0	1.0	1000	$1,749	$1.75	17d	1	0.21mi
5865 E 46th St Indianapolis, IN	3.0	2.0	1400	$1,500	$1.07	43d	1	0.47mi
3836 Priscilla Ave Indianapolis, IN	3.0	1.5	1040	$1,275	$1.23	2d	1	0.52mi
4404 Park Forest Ct Indianapolis, IN	2.0	1.0	928	$1,180	$1.27	21d	2	0.57mi
4430 Park Forest Ct Indianapolis, IN	2.0	1.0	928	$1,180	$1.27	43d	1	0.57mi
3912 N Webster Ave Indianapolis, IN	4.0	1.0	1274	$1,350	$1.06	21d	1	0.57mi
4555 N Arlington Ave Indianapolis, IN	1.0–3.0	1.0–1.5	880	$1,379	$1.57	3d	30	0.58mi
4438 Park Forest Ct Indianapolis, IN	2.0	1.0	928	$1,180	$1.27	43d	1	0.58mi
4411 Park Forest Ct Indianapolis, IN	2.0	1.0	928	$1,180	$1.27	43d	1	0.59mi
4437 Park Forest Ct Indianapolis, IN	2.0	1.0	928	$1,180	$1.27	43d	1	0.60mi
4445 Park Forest Ct Indianapolis, IN	2.0	1.0	928	$1,180	$1.27	3d	1	0.61mi
4504 Park Forest Ct Indianapolis, IN	2.0	1.0	928	$1,180	$1.27	3d	1	0.61mi
4521 Park Forest Ct Indianapolis, IN	2.0	1.0	700	$1,180	$1.69	4d	1	0.63mi
3718 N Audubon Rd Indianapolis, IN	3.0	1.0	875	$1,300	$1.49	23d	1	0.67mi
4537 Park Forest Ct Indianapolis, IN	2.0	1.0	928	$1,180	$1.27	43d	1	0.67mi
4545 Park Forest Ct Indianapolis, IN	2.0	1.0	928	$1,180	$1.27	43d	1	0.67mi
4405 Park Forest Ct Indianapolis, IN	2.0	1.0	928	$1,180	$1.27	23d	1	0.70mi
3815 N Grand Ave Unit 3815 Indianapolis, IN	2.0	1.0	965	$1,250	$1.30	4d	1	0.72mi
3636 N Whittier Pl Indianapolis, IN	3.0	1.0	912	$995	$1.09	7d	1	0.79mi
4511 N Kenmore Rd Indianapolis, IN	4.0	2.0	1200	$2,095	$1.75	4d	1	0.85mi
6005 Dickson Rd Unit 4 Indianapolis, IN	2.0	1.0	873	$725	$0.83	43d	1	0.90mi
6015 Dickson Rd #1 Indianapolis, IN	2.0	1.0	825	$950	$1.15	43d	1	0.91mi
6049 Dickson Rd Apt 4 Indianapolis, IN	2.0	1.0	750	$950	$1.27	43d	1	0.94mi
3639 N Emerson Ave Indianapolis, IN	4.0	1.0	1000	$1,450	$1.45	21d	1	0.95mi
6048 Dickson Rd #3 Indianapolis, IN	2.0	1.0	725	$900	$1.24	43d	1	0.97mi
6563 E 46th St Indianapolis, IN	3.0	1.5	1185	$1,250	$1.05	4d	1	0.97mi
3516 N Hawthorne Ln Indianapolis, IN	3.0	1.0	925	$1,225	$1.32	4d	1	0.98mi
6108 Dickson Rd Unit 3 Indianapolis, IN	2.0	1.0	750	$900	$1.20	43d	1	0.99mi
6118 Dickson Rd Apt 3 Indianapolis, IN	2.0	1.0	750	$950	$1.27	43d	1	1.00mi
6051 Laurel Hall Dr Apt 4 Indianapolis, IN	2.0	1.0	750	$950	$1.27	43d	1	1.01mi
4839 N Kenmore Rd Indianapolis, IN	3.0	2.0	1215	$1,533	$1.26	21d	1	1.01mi
6028 Laurel Hall Dr #3 Indianapolis, IN	2.0	1.0	875	$950	$1.09	43d	1	1.02mi
6111 Laurel Hall Dr #1 Indianapolis, IN	2.0	1.0	725	$950	$1.31	23d	1	1.03mi
6111 Laurel Hall Dr #3 Indianapolis, IN	2.0	1.0	725	$950	$1.31	43d	1	1.03mi
4307 N Edmondson Ave Indianapolis, IN	3.0	1.0	900	$1,299	$1.44	2d	1	1.12mi
3734 Manor Ct Indianapolis, IN	3.0	1.0	1414	$1,399	$0.99	7d	1	1.22mi
3319 N Hawthorne Ln Indianapolis, IN	3.0	1.0	1084	$1,100	$1.01	23d	1	1.25mi
3301 Mardenna Ave Indianapolis, IN	3.0	1.0	925	$1,200	$1.30	43d	1	1.29mi
3316 N Emerson Ave Indianapolis, IN	3.0	1.0	912	$1,100	$1.21	23d	1	1.33mi
3900 N Shadeland Ave Indianapolis, IN	1.0–2.0	1.0	1070	$1,075	$1.00	3d	6	1.37mi

Listing history 5 events

1. 2026-06-16
   status $99,000 Pending 5 DOM
2. 2026-06-15
   days on market $99,000 Active 5 DOM
3. 2026-06-13
   days on market $99,000 Active 3 DOM
4. 2026-06-13
   remarks 268-char remark
5. 2026-06-13
   listed $99,000 Active 2 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: $2,702 · $225/mo
• Projected year-2 tax: $2,702 · $225/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 4/10 Moderate 5 unhealthy d/yr today · 7 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,570
• − Mortgage interest: −$5,546
• − Property taxes: −$2,702
• − Insurance: −$495
• − Repairs & maintenance: −$1,246
• − Management: −$1,246
• − Depreciation: −$2,880
• Taxable income: $1,456
• Est. tax owed @ 24.0%: −$350
• After-tax cash flow: $2,524/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

+453.1% since first listed

14 events — show timeline

• 2026-06-10 Listed $99,000 MIBOR as Distributed by MLS Grid
• 2023-11-30 Pending — MIBOR as Distributed by MLS Grid
• 2023-11-27 Listing Removed — MIBOR as Distributed by MLS Grid
• 2023-11-26 Relisted — MIBOR as Distributed by MLS Grid
• 2023-11-17 Pending — MIBOR as Distributed by MLS Grid
• 2023-11-14 Price Changed $134,900 MIBOR as Distributed by MLS Grid
• 2023-11-08 Listed $145,000 MIBOR as Distributed by MLS Grid
• 2022-12-05 Listed $120,000 MIBOR as Distributed by MLS Grid
• 2010-08-28 Listing Removed — MIBOR as Distributed by MLS Grid
• 2009-07-26 Listing Removed — MIBOR as Distributed by MLS Grid
• 2009-07-26 Listed $59,500 MIBOR as Distributed by MLS Grid
• 2008-07-20 Listed $67,900 MIBOR as Distributed by MLS Grid
• 2008-06-10 Sold (MLS) $18,600 MIBOR as Distributed by MLS Grid
• 2008-03-12 Listed $17,900 MIBOR as Distributed by MLS Grid

Property tax history

+15.8%/yr

Latest (2025): $2,702 · +2.0% YoY. Source: county tax records.