1306 Wright St · Indianapolis city (balance), IN 46203

$199,900

3 bd · 1.0 ba · 1,608 sqft · SingleFamily public records · 56 Days on market

Built 1860 3,920 sqft lot $124/sqft · 6% below area Est $331k · 40% under

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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 +18.0/30.0
• ARV discount +15.0/15.0
• DSCR +5.6/10.0
• 1% rule +4.3/10.0
• Rent growth +3.2/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.4/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Great opportunity in the up & coming Bates-Hendricks neighborhood! Much work has been done making this a great rental or for a do-it-yourselfer looking for some quick equity! New in kitchen: tile floor, cabinets, c’top & sink w/disposal. Bath w/new tile floor, vanity & tub/shower! Brand new carpet. Lots of charm remains as well w/tall ceilings, built-in china hutch, craftsman style staircase & transom windows. Big covered porch, fenced yard & parking spaces behind house! Being sold AS-IS.

Key facts

• Original built ins
• High ceilings
• Covered back porch

Tags

• ORIGINAL HARDWOOD FLOORS
• HIGH CEILINGS
• ORIGINAL BUILT INS
• TONS OF LARGE WINDOWS
• FULLY FENCED BACKYARD
• COVERED BACK PORCH

Property features AI

Exterior

• Parking: Alley access
• Utilities: Public water; Municipal sewer connection; Solid waste service available
• Home design: Single family residence; Two levels; Fixer condition
• Construction: Wood siding exterior; Concrete perimeter and brick/mortar foundation
• Exterior features: Covered patio/porch; City lot with sidewalks

Interior

• Kitchen: Down draft; Electric oven; Refrigerator; Disposal; Exhaust fan
• Bedrooms: Primary bedroom includes a sitting room; Two upper-level bedrooms
• Flooring: Hardwood floors
• Bathrooms: One full bathroom on the upper level with a full tub
• Heating & cooling: Forced air heating (natural gas); Central air conditioning
• Interior features: Hardwood floors; Unfinished basement
• Laundry & utility: Washer; Dryer; Gas water heater

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $200k.

Deal economics

• At list price, monthly cash flow is $172 ($2k/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 $187k (6.5% below list).
• Recommended offer: $187k (6.5% below list) — sets the bar for 1% rule.
• Cap rate 7.3% 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 (+2.9%/yr); 493 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); 1,906 units permitted in Marion County in 2024 (621 in 5+ unit buildings).
• This rent runs 39% of the median local income ($57k/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 $6k 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 56 days — a 3% lower offer ($194k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 20y 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 $89k; list at $200k implies a 125% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1860 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $186,850 (6.5% below list)

Questions for the listing agent

1. It's been on market 56 days. Have you received any prior offers? Is the seller open to a 7% concession, seller financing, or rate buy-down credit?
2. Built in 1860 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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: 0.93% ✗
• Cap rate: 7.33%
• Cash-on-cash: 3.69%
• DSCR: 1.16
• GRM: 8.9

CMA / ARV

• ARV (median comp): $331,350
• List price: $199,900
• Delta: -39.67%
• 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
746 Parkway Ave	0.02mi	3/2.0	1,628 (+1%)	2mo	$251,000	$154	91
619 Prospect St	0.23mi	3/1.5	1,564 (-3%)	1mo	$264,000	$169	82
711 Terrace Ave	0.12mi	3/2.0	1,475 (-8%)	1mo	$323,500	$219	76
1034 Elm St	0.52mi	3/2.0	1,587 (-1%)	0mo	$385,000	$243	69
1202 Hartford St	0.15mi	3/3.5	1,480 (-8%)	2mo	$330,000	$223	68
830 Olive St	0.56mi	3/2.0	1,618 (+1%)	2mo	$335,000	$207	68
1152 Lexington Ave	0.61mi	2/1.0 (-1)	1,596 (-1%)	1mo	$148,000	$93	64
1205 Hoyt Ave	0.66mi	2/1.0 (-1)	1,581 (-2%)	0mo	$237,000	$150	61
1125 Laurel St	0.58mi	3/2.0	1,731 (+8%)	1mo	$350,000	$202	55
1250 Union St	0.65mi	3/1.5	1,440 (-10%)	1mo	$200,000	$139	50
935 Spruce St	0.72mi	2/1.0 (-1)	1,788 (+11%)	1mo	$300,000	$168	42
2125 S Garfield Dr	0.74mi	3/2.5	1,820 (+13%)	1mo	$285,000	$157	37

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 · 2.88% rent growth · sell at horizon

5-year hold

• IRR: -10.6%
• Equity multiple: 0.61×
• Total profit: $-21,673
• Equity at exit: $29,806

10-year hold

• IRR: -1.5%
• Equity multiple: 0.90×
• Total profit: $-5,757
• Equity at exit: $17,284

Cash invested: $55,972 (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 46203

• Home prices YoY: -26.7%
• Rents YoY: 2.9%
• Active inventory: 493
• Price-to-rent: 8.9×

Monthly cashflow live

• Estimated rent: $1,868 high
• Mortgage (P&I): −$1,048
• Tax from tax record: −$172 /mo · $2,069/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$392
• Net cashflow: $172

Break-even live

Break-even rent $1,651

Max offer price $199,900

Occupancy floor 86%

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: $49,975
• Closing costs: $5,997
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
734 Parkway Ave Indianapolis, IN	3.0	2.0	2110	$2,299	$1.09	24d	1	0.02mi
726 Parkway Ave Indianapolis, IN	3.0	2.0	1150	$2,195	$1.91	17d	1	0.03mi
1247 Wright St Indianapolis, IN	3.0	1.5	1809	$1,750	$0.97	44d	1	0.08mi
1247 Wright St Indianapolis, IN	3.0	1.5	1247	$1,750	$1.40	18d	1	0.08mi
752 Cottage Ave Indianapolis, IN	3.0	2.0	1548	$1,750	$1.13	15d	1	0.09mi
728 Cottage Ave Indianapolis, IN	3.0	2.5	1831	$2,550	$1.39	24d	1	0.09mi
614 Parkway Ave Indianapolis, IN	3.0	2.0	1360	$1,900	$1.40	22d	1	0.11mi
704 Sanders St Indianapolis, IN	2.0	1.0	1290	$1,275	$0.99	24d	1	0.13mi
835 Weghorst St Unit 837 Indianapolis, IN	3.0	1.5	1500	$1,399	$0.93	24d	1	0.18mi
736 E Morris St Indianapolis, IN	2.0	1.5	1500	$1,195	$0.80	4d	1	0.18mi
1514 Ringgold Ave Indianapolis, IN	3.0	1.0	1064	$1,295	$1.22	44d	1	0.20mi
1437 S East St Indianapolis, IN	2.0	2.0	1114	$1,425	$1.28	44d	1	0.21mi
1439 South East St Indianapolis, IN	2.0	2.0	1114	$1,425	$1.28	20d	1	0.22mi
932 E Morris St Indianapolis, IN	2.0	2.0	1483	$1,900	$1.28	3d	1	0.26mi
907 Prospect St Unit 907 Prospect NO AMI Indianapolis, IN	3.0	1.5	1121	$1,400	$1.25	24d	1	0.26mi
406 Orange St Indianapolis, IN	3.0	2.5	1820	$2,250	$1.24	44d	1	0.27mi
1035 Sanders St Unit 163 Indianapolis, IN	2.0	1.0	1481	$1,921	$1.30	44d	1	0.28mi
1045 Orange St Indianapolis, IN	2.0	1.0	1232	$2,000	$1.62	24d	1	0.29mi
1045 Orange St Indianapolis, IN	2.0	1.0	1232	$2,200	$1.79	44d	1	0.29mi
1436 S New Jersey St Unit A Indianapolis, IN	3.0	2.5	1300	$2,100	$1.62	24d	1	0.29mi
518 Prospect St Unit 1357365P Indianapolis, IN	3.0	2.0	1614	$2,594	$1.61	8d	1	0.30mi
518 Prospect St Unit 1353834P Indianapolis, IN	3.0	2.0	1603	$2,442	$1.52	15d	1	0.30mi
1012 Prospect St Unit 1527 Indianapolis, IN	3.0	1.5	1150	$1,200	$1.04	44d	1	0.35mi
1012 Prospect St Unit 907 Prospect NO AMI Indianapolis, IN	3.0	1.5	1121	$1,400	$1.25	44d	1	0.35mi
1012 Prospect St Unit 512 State 120% AMI Indianapolis, IN	3.0	1.0	1200	$1,400	$1.17	44d	1	0.35mi
1140 Shelby St Apt 515 Indianapolis, IN	2.0	2.0	1181	$2,090	$1.77	24d	1	0.35mi
243 Terrace Ave Indianapolis, IN	4.0	2.0	1669	$2,700	$1.62	18d	1	0.35mi
714 Buchanan St Indianapolis, IN	2.0	2.0	1100	$1,995	$1.81	15d	1	0.36mi
1830 Orleans St Indianapolis, IN	3.0	2.5	1586	$1,995	$1.26	44d	1	0.42mi
1835 Applegate St Indianapolis, IN	4.0	3.0	2024	$2,300	$1.14	44d	1	0.42mi
1833 Orleans St Unit 1 Indianapolis, IN	3.0	1.0	1260	$1,350	$1.07	44d	1	0.42mi
1012 Hosbrook St Indianapolis, IN	2.0	2.5	1728	$2,400	$1.39	24d	1	0.50mi
620 E Beecher St Indianapolis, IN	3.0	2.0	1072	$1,639	$1.53	20d	1	0.50mi
438 E Beecher St Indianapolis, IN	3.0	2.5	1500	$1,450	$0.97	24d	1	0.53mi
224 Iowa St Indianapolis, IN	3.0	1.0	1254	$1,450	$1.16	24d	1	0.53mi
1861 Barth Ave Unit 1861 Indianapolis, IN	2.0	1.0	1300	$1,600	$1.23	24d	1	0.54mi
1330 Laurel St Indianapolis, IN	3.0	2.0	1911	$2,250	$1.18	20d	1	0.55mi
1713 S Delaware St Indianapolis, IN	2.0	2.0	1785	$1,700	$0.95	44d	1	0.59mi
1258 E Naomi St Indianapolis, IN	3.0	2.0	1608	$1,450	$0.90	8d	1	0.66mi
1441 Prospect St Indianapolis, IN	2.0	1.0–2.0	2840	$2,000	$0.70	2d	13	0.66mi

Listing history 27 events

1. 2026-06-18
   days on market $199,900 Active 56 DOM
2. 2026-06-17
   days on market $199,900 Active 55 DOM
3. 2026-06-16
   days on market $199,900 Active 54 DOM
4. 2026-06-15
   days on market $199,900 Active 53 DOM
5. 2026-06-13
   days on market $199,900 Active 51 DOM
6. 2026-06-13
   days on market $199,900 Active 50 DOM
7. 2026-06-09
   days on market $199,900 Active 47 DOM
8. 2026-06-08
   days on market $199,900 Active 46 DOM
9. 2026-06-07
   days on market $199,900 Active 45 DOM
10. 2026-06-03
    days on market $199,900 Active 41 DOM
11. 2026-06-02
    days on market $199,900 Active 40 DOM
12. 2026-06-01
    days on market $199,900 Active 39 DOM
13. 2026-05-31
    days on market $199,900 Active 38 DOM
14. 2026-04-23
    listed $199,900 Active 895-char remark
15. 2016-04-08
    soldstatus $89,000 Sold 524-char remark

    Show marketing remark (524 chars)

    Great opportunity in the up & coming Bates-Hendricks neighborhood! Much work has been done making this a great rental or for a do-it-yourselfer looking for some quick equity! New in kitchen: tile floor, cabinets, c’top & sink w/disposal. Bath w/new tile floor, vanity & tub/shower! Brand new carpet. Lots of charm remains as well w/tall ceilings, built-in china hutch, craftsman style staircase & transom windows. Big covered porch, fenced yard & parking spaces behind house! Being sold AS-IS.

16. 2016-04-06
    status Pending 524-char remark

    Show marketing remark (524 chars)

    Great opportunity in the up & coming Bates-Hendricks neighborhood! Much work has been done making this a great rental or for a do-it-yourselfer looking for some quick equity! New in kitchen: tile floor, cabinets, c’top & sink w/disposal. Bath w/new tile floor, vanity & tub/shower! Brand new carpet. Lots of charm remains as well w/tall ceilings, built-in china hutch, craftsman style staircase & transom windows. Big covered porch, fenced yard & parking spaces behind house! Being sold AS-IS.

17. 2016-03-08
    historical Active with Contingency 524-char remark

    Show marketing remark (524 chars)

    Great opportunity in the up & coming Bates-Hendricks neighborhood! Much work has been done making this a great rental or for a do-it-yourselfer looking for some quick equity! New in kitchen: tile floor, cabinets, c’top & sink w/disposal. Bath w/new tile floor, vanity & tub/shower! Brand new carpet. Lots of charm remains as well w/tall ceilings, built-in china hutch, craftsman style staircase & transom windows. Big covered porch, fenced yard & parking spaces behind house! Being sold AS-IS.

18. 2016-02-22
    price $94,500 524-char remark

    Show marketing remark (524 chars)

    Great opportunity in the up & coming Bates-Hendricks neighborhood! Much work has been done making this a great rental or for a do-it-yourselfer looking for some quick equity! New in kitchen: tile floor, cabinets, c’top & sink w/disposal. Bath w/new tile floor, vanity & tub/shower! Brand new carpet. Lots of charm remains as well w/tall ceilings, built-in china hutch, craftsman style staircase & transom windows. Big covered porch, fenced yard & parking spaces behind house! Being sold AS-IS.

19. 2016-02-01
    listed $98,500 Active 524-char remark

    Show marketing remark (524 chars)

    Great opportunity in the up & coming Bates-Hendricks neighborhood! Much work has been done making this a great rental or for a do-it-yourselfer looking for some quick equity! New in kitchen: tile floor, cabinets, c’top & sink w/disposal. Bath w/new tile floor, vanity & tub/shower! Brand new carpet. Lots of charm remains as well w/tall ceilings, built-in china hutch, craftsman style staircase & transom windows. Big covered porch, fenced yard & parking spaces behind house! Being sold AS-IS.

20. 2015-09-15
    historical
21. 2015-08-28
    price $63,900
22. 2015-08-28
    status Active
23. 2015-08-24
    historical Contingent - Backup Pending Other
24. 2015-08-07
    price $68,990
25. 2015-08-07
    listed $68,900 Active
26. 2006-04-04
    soldstatus $37,900
27. 2006-01-13
    listed $40,000

ⓘ 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: $2,069 · $172/mo
• Projected year-2 tax: $2,069 · $172/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 4/10 Moderate 7 d/yr ≥101°F today · 19 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $22,422
• − Mortgage interest: −$11,198
• − Property taxes: −$2,069
• − Insurance: −$1,000
• − Repairs & maintenance: −$1,794
• − Management: −$1,794
• − Depreciation: −$5,815
• Taxable loss: −$1,246
• Est. tax savings @ 24.0%: +$299
• After-tax cash flow: $2,365/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): 37,758
• Household income: $57,393
• Rent vs Own: 42.2% rent · 57.8% own
• Severe rent burden: 1499.0

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% Hispanic / Latino 14% Black 12% Two or more races 8% Asian 2% Native American 1%
• Hispanic origin (detail): Mexican 12% Puerto Rican 1%
• Common ancestry: Slovak 2% Lithuanian 2% Italian 1%
• Foreign-born: 8% · Canada
• Languages at home: 88% English-only · Spanish 10% Other Indo-European 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: ▼ -127.37%
• Current HPI: 349.579
• Rent YoY: ▲ 2.88%
• 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

+399.8% since first listed

14 events — show timeline

• 2026-04-23 Listed $199,900 MIBOR as Distributed by MLS Grid
• 2016-04-08 Sold (MLS) $89,000 MIBOR as Distributed by MLS Grid
• 2016-04-06 Pending — MIBOR as Distributed by MLS Grid
• 2016-03-08 Contingent — MIBOR as Distributed by MLS Grid
• 2016-02-22 Price Changed $94,500 MIBOR as Distributed by MLS Grid
• 2016-02-01 Listed $98,500 MIBOR as Distributed by MLS Grid
• 2015-09-15 Listing Removed — MIBOR as Distributed by MLS Grid
• 2015-08-28 Price Changed $63,900 MIBOR as Distributed by MLS Grid
• 2015-08-28 Relisted — MIBOR as Distributed by MLS Grid
• 2015-08-24 Contingent — MIBOR as Distributed by MLS Grid
• 2015-08-07 Price Changed $68,990 MIBOR as Distributed by MLS Grid
• 2015-08-07 Listed $68,900 MIBOR as Distributed by MLS Grid
• 2006-04-04 Sold (MLS) $37,900 MIBOR as Distributed by MLS Grid
• 2006-01-13 Listed $40,000 MIBOR as Distributed by MLS Grid

Property tax history

+7.0%/yr

Latest (2025): $2,069 · -2.5% YoY. Source: county tax records.