3017 Broadway St · Indianapolis city (balance), IN 46205

$295,000

3 bd · 1.0 ba · 1,563 sqft · MultiFamily public records · 16 Days on market

Built 1915 4,661 sqft lot $189/sqft · 23% above area Est $338k · 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).

• Cash flow +14.0/30.0
• ARV discount +13.2/15.0
• DSCR +4.2/10.0
• 1% rule +4.1/10.0
• Rent growth +4.1/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.4/10.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks MLS

MAPLETON FALL-CREEK DUPLEX // This updated duplex offers a vacant side for your finishing touches as well as the other side with long-term tenant willing to continue a lease for another year! Make this part of your investment portfolio in Indy or be an owner-occupant!

Key facts

• Updated duplex
• Freshly painted
• Elevated ceilings

Tags

• UPDATED DUPLEX
• IMMEDIATE INCOME POTENTIAL
• ELEVATED CEILINGS
• SPACIOUS BEDROOMS
• FUNCTIONAL LAYOUTS
• FRESHLY PAINTED

Property features AI

Finance

• Financial info: Two-unit building; Gross income reported: 30,819; Net operating income reported: 16,819; Expenses reported: 11,000; Owner pays insurance and taxes; One unit rent listed at $1,225 per month

Exterior

• Parking: Unpaved unit parking
• Utilities: Separate gas meter; Water connected; Sewer connected
• Home design: Duplex residential income property; Two stories
• Construction: Vinyl siding
• Exterior features: Shingle roof; Has a view

Interior

• Kitchen: Eat-in kitchen; Kitchen approx. 10x10 (for one unit)
• Bedrooms: 3-bedroom unit (one unit described; building is a duplex)
• Heating & cooling: Forced air heating; Central air conditioning; Separate meters
• Interior features: Updated/remodeled condition; Has unfinished basement
• Laundry & utility: Other laundry features

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/2.0-bath units multifamily listed at $295k.

Deal economics

• At list price, monthly cash flow is $-18 ($-221/yr) — negative. Per door: $-9/mo.
• To cash-flow at today's rent, offer at most $292k (1.1% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $268k (9.1% below list).
• Recommended offer: $268k (9.1% below list) — sets the bar for 1% rule.
• Cap rate 6.4% 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.
• Zoned schools: Center For Inquiry School 27 (math 25% / reading 29%, grade F, #737 of 994 statewide, top 76%, 525 students, 51% FRL); H L Harshman Middle School (math 3% / reading 16%, grade F, #316 of 330 statewide, top 96%, 549 students, 84% FRL); Arsenal Technical High School (math 6% / reading 27%, grade F, #353 of 369 statewide, top 96%, 2,366 students, 74% FRL).
• Market conditions: Rents rising fast (+6.2%/yr); 317 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 26d 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 44% of the median local income ($72k/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 $2k of loan paydown is wiped out by about $9k 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 16 days — a 2% lower offer ($291k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 6y 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.

Risks & watch-outs

• Watch-outs: flood insurance adds $56/mo; built in 1915 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $268,200 (9.1% 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. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1915 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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.
9. 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.
10. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 0.91% ✗
• Cap rate: 6.44%
• Cash-on-cash: 0.54%
• DSCR: 1.02
• GRM: 9.2

CMA / ARV

• ARV (median comp): $338,146
• List price: $295,000
• Delta: -12.76%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2625 Central Ave	0.45mi	4/4.0 (+1)	1,570 (+0%)	2mo	$445,000	$283	59

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 · 6.21% rent growth · sell at horizon

5-year hold

• IRR: -13.0%
• Equity multiple: 0.52×
• Total profit: $-39,935
• Equity at exit: $43,985

10-year hold

• IRR: 0.5%
• Equity multiple: 1.04×
• Total profit: $3,316
• Equity at exit: $25,506

Cash invested: $82,600 (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 46205

• Rents YoY: 6.2%
• Active inventory: 317
• Price-to-rent: 18.3×

Monthly cashflow live

• Estimated rent: $2,682 high
• Mortgage (P&I): −$1,547
• Tax from tax record: −$412 /mo · $4,941/yr
• Insurance: −$123
• Flood insurance flood zone: −$56 /mo · $666/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$563
• Net cashflow: $-18

Break-even live

Break-even rent $2,705

Max offer price $291,745

Occupancy floor 96%

Sensitivity live

Price	-10% $149	-5% $65	+0% $-18	+5% $-102	+10% $-185
Rent	-10% $-230	-5% $-124	+0% $-18	+5% $88	+10% $193
Rate	-1.0pp $130	-0.5pp $57	base $-18	+0.5pp $-95	+1.0pp $-173

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	3	2	$2,682
Total (2 units)			$2,682

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: $73,750
• Closing costs: $8,850
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2960 N Park Ave Indianapolis, IN	3.0	1.5	1400	$1,550	$1.11	25d	1	0.09mi
2960 N Park Ave Indianapolis, IN	3.0	1.5	1400	$1,550	$1.11	0d	1	0.09mi
2960 N Park Ave Indianapolis, IN	3.0	2.0	1400	$1,595	$1.14	45d	1	0.09mi
2958 N Park Ave Unit 2958 Indianapolis, IN	3.0	1.5	1350	$1,450	$1.07	5d	1	0.10mi
3106 N College Ave Indianapolis, IN	3.0	1.5	1400	$1,700	$1.21	9d	1	0.11mi
3128 Broadway St Indianapolis, IN	4.0	1.5	1999	$2,200	$1.10	25d	1	0.14mi
2950 Ruckle St Indianapolis, IN	3.0	1.0	1450	$1,300	$0.90	45d	1	0.16mi
3141 N Park Ave Indianapolis, IN	3.0	1.0	1390	$1,000	$0.72	45d	1	0.17mi
2920 Ruckle St Indianapolis, IN	3.0	1.5	1272	$1,700	$1.34	9d	1	0.20mi
2920 Ruckle St Indianapolis, IN	3.0	1.5	1272	$1,700	$1.34	0d	1	0.20mi
2830 N Park Ave Indianapolis, IN	2.0	3.0	1500	$1,600	$1.07	45d	1	0.22mi
321 E 31st St Indianapolis, IN	3.0	1.0	1390	$1,400	$1.01	45d	1	0.29mi
2950 Winthrop Ave Indianapolis, IN	3.0	2.0	1224	$1,449	$1.18	45d	1	0.32mi
3110 Guilford Ave Indianapolis, IN	3.0	1.5	1250	$1,295	$1.04	25d	1	0.32mi
3203 Sutherland Ave Unit 1310761P Indianapolis, IN	2.0	1.0	1097	$3,668	$3.34	4d	1	0.32mi
2751 Guilford Ave Unit B Indianapolis, IN	3.0	2.0	1250	$1,750	$1.40	16d	1	0.36mi
2751 Guilford Ave Unit A Indianapolis, IN	3.0	2.0	1250	$1,750	$1.40	0d	1	0.36mi
2751 Guilford Ave Unit Aunit Indianapolis, IN	3.0	2.0	1250	$1,750	$1.40	45d	1	0.36mi
3208 Guilford Ave Indianapolis, IN	3.0	3.0	1800	$1,700	$0.94	14d	1	0.37mi
2709 N College Ave Indianapolis, IN	3.0	2.0	1500	$2,200	$1.47	25d	1	0.37mi
2707 N College Ave Indianapolis, IN	3.0	2.0	1500	$2,200	$1.47	19d	1	0.38mi
3139 Guilford Ave Indianapolis, IN	3.0	1.0	1068	$1,345	$1.26	45d	1	0.38mi
2955 N Delaware St Indianapolis, IN	3.0	1.5	1400	$1,600	$1.14	45d	1	0.38mi
514 E 33rd St Indianapolis, IN	3.0	1.0	1208	$1,200	$0.99	25d	1	0.38mi
512 E 33rd St Indianapolis, IN	3.0	1.0	1208	$1,200	$0.99	25d	1	0.38mi
3004 N Delaware St Indianapolis, IN	3.0	1.5	1600	$1,549	$0.97	0d	1	0.40mi
2925 N Delaware St Indianapolis, IN	3.0	1.5	1322	$1,275	$0.96	25d	1	0.40mi
2923 N Delaware St Indianapolis, IN	3.0	1.5	1320	$1,350	$1.02	0d	1	0.40mi
2711 Guilford Ave Indianapolis, IN	3.0	2.0	1250	$1,695	$1.36	25d	1	0.42mi
3365 Broadway St Indianapolis, IN	3.0	2.0	1300	$1,700	$1.31	45d	1	0.44mi
3359 N College Ave Indianapolis, IN	2.0	1.5	1450	$1,795	$1.24	12d	1	0.45mi
3359 N College Ave Unit 3359 Indianapolis, IN	2.0	1.5	1082	$1,895	$1.75	25d	1	0.45mi
3370 N College Ave Indianapolis, IN	3.0	1.0	1680	$1,275	$0.76	4d	1	0.45mi
2901 N Talbott St Indianapolis, IN	3.0	1.5	1388	$1,400	$1.01	0d	1	0.46mi
2901 N Talbott St Indianapolis, IN	3.0	1.5	1388	$1,400	$1.01	45d	1	0.46mi
728 E 34th St Indianapolis, IN	3.0	1.0	1491	$1,400	$0.94	22d	1	0.48mi
728 E 34th St Indianapolis, IN	3.0	1.0	1491	$1,400	$0.94	6d	1	0.48mi
2614 Guilford Ave Unit 2614 Indianapolis, IN	3.0	1.0	1176	$1,645	$1.40	0d	1	0.48mi
2813 N Talbott St Indianapolis, IN	3.0	2.0	1297	$1,800	$1.39	45d	1	0.50mi
2801 N Talbott St Unit A Indianapolis, IN	3.0	2.0	1296	$1,850	$1.43	45d	1	0.50mi

Listing history 6 events

1. 2026-05-11
   status Pending 576-char remark
2. 2026-04-25
   listed $295,000 Active 576-char remark
3. 2025-05-30
   historical
4. 2025-04-26
   listed
5. 2020-07-23
   listed $160,000 Active 268-char remark

   Show marketing remark (268 chars)

   MAPLETON FALL-CREEK DUPLEX // This updated duplex offers a vacant side for your finishing touches as well as the other side with long-term tenant willing to continue a lease for another year! Make this part of your investment portfolio in Indy or be an owner-occupant!

6. 2020-07-22
   soldstatus $160,000 Sold 268-char remark

   Show marketing remark (268 chars)

   MAPLETON FALL-CREEK DUPLEX // This updated duplex offers a vacant side for your finishing touches as well as the other side with long-term tenant willing to continue a lease for another year! Make this part of your investment portfolio in Indy or be an owner-occupant!

ⓘ 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: $4,941 · $412/mo
• Projected year-2 tax: $4,941 · $412/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 9/10 Extreme FEMA zone X (unshaded) · 99% 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 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: $32,184
• − Mortgage interest: −$16,525
• − Property taxes: −$4,941
• − Insurance: −$2,142
• − Repairs & maintenance: −$2,575
• − Management: −$2,575
• − Depreciation: −$8,582
• Taxable loss: −$5,154
• Est. tax savings @ 24.0%: +$1,237
• After-tax cash flow: $1,016/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): 28,259
• Household income: $72,417
• Rent vs Own: 46.3% rent · 53.7% own
• Severe rent burden: 1149.0

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 0.64)
• Race & ethnicity: White 50% Black 32% Two or more races 10% Hispanic / Latino 7% Asian 3%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Italian 3% Slovak 2% Romanian 2%
• Foreign-born: 5% · Canada
• Languages at home: 89% English-only · Spanish 6% Other Indo-European 2% German/W. Germanic 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: ▼ -322.77%
• Current HPI: 380.5407
• Rent YoY: ▲ 6.21%
• 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

+70.3% since first listed

7 events — show timeline

• 2026-06-12 Sold (MLS) $272,530 MIBOR as Distributed by MLS Grid
• 2026-05-11 Pending — MIBOR as Distributed by MLS Grid
• 2026-04-25 Listed $295,000 MIBOR as Distributed by MLS Grid
• 2025-05-30 Rental Removed — RENTEC
• 2025-04-26 Listed for Rent — RENTEC
• 2020-07-23 Listed $160,000 MIBOR as Distributed by MLS Grid
• 2020-07-22 Sold (MLS) $160,000 MIBOR as Distributed by MLS Grid

Property tax history

+7.7%/yr

Latest (2025): $4,941 · +2.6% YoY. Source: county tax records.