1207 W 35th St · Indianapolis city (balance), IN 46208

$94,900

3 bd · 2.0 ba · 1,928 sqft · SingleFamily public records · 462 Days on market

Built 1910 5,271 sqft lot Est $148k · 36% 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 +30.0/30.0
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• 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

Listing remarks MLS

Bring your imagination and make this 3 bedroom home into whatever you can think of. Property is mostly gutted so half your work is already completed.

Key facts

• Newer roof
• Recent renovations
• Newer windows

Tags

• RECENT RENOVATIONS
• NEWER ROOF
• NEWER WINDOWS
• FUNCTIONAL FLOOR PLAN

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $95k.

Deal economics

• At list price, monthly cash flow is $624 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $95k).
• Recommended offer: $84k (12.0% below list) — sets the bar for market timing.
• Cap rate 14.2% 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 (+6.4%/yr); 279 active listings in the ZIP; 29 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 33% of the median local income ($60k/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 $656 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 + 6.4% rent growth), your $27k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 462 days — a 12% lower offer ($84k) is reasonable based on typical stale-listing flexibility.
• 9 sale attempts since 14y ago; this cycle's ask has dropped $85k (47%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $53k; list at $95k implies a 79% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1910 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $83,512 (12.0% below list)

Questions for the listing agent

1. It's been on market 462 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1910 — 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. 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.
6. 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.
7. 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: 1.72% ✓
• Cap rate: 14.18%
• Cash-on-cash: 28.16%
• DSCR: 2.25
• GRM: 4.9

CMA / ARV

• ARV (on-the-fly): $148,456
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1035 W 37th St	0.26mi	3/1.0	2,020 (+5%)	1mo	$140,000	$69	75
1450 W 33rd St	0.32mi	3/1.0	1,980 (+3%)	3mo	$85,000	$43	74
1030 W 37th St	0.27mi	2/1.0 (-1)	1,888 (-2%)	3mo	$145,000	$77	73
1311 W 33rd St	0.20mi	3/1.0	2,094 (+9%)	1mo	$122,350	$58	71
1205 W 32nd St	0.22mi	3/1.0	1,686 (-13%)	0mo	$122,500	$73	64
962 W 35th St	0.27mi	2/1.0 (-1)	1,768 (-8%)	1mo	$97,900	$55	63
1331 W 34th St W	0.18mi	2/1.0 (-1)	2,160 (+12%)	1mo	$92,500	$43	62
1346 W 27th St	0.75mi	3/2.0	1,932 (+0%)	4mo	$150,000	$78	61
1307 Congress Ave	0.32mi	3/2.0	1,655 (-14%)	2mo	$200,000	$121	60
3105 N White River Parkway East Dr	0.52mi	3/3.0	1,715 (-11%)	3mo	$230,000	$134	51
950 W 28th St	0.72mi	3/2.5	1,713 (-11%)	1mo	$320,000	$187	45
3052 Skylar Ln	0.56mi	2/1.5 (-1)	1,674 (-13%)	2mo	$145,729	$87	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 · 6.43% rent growth · sell at horizon

5-year hold

• IRR: 26.2%
• Equity multiple: 2.14×
• Total profit: $30,187
• Equity at exit: $14,150

10-year hold

• IRR: 35.9%
• Equity multiple: 4.88×
• Total profit: $103,159
• Equity at exit: $8,205

Cash invested: $26,572 (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 46208

• Rents YoY: 6.4%
• Active inventory: 279
• Price-to-rent: 4.9×

Monthly cashflow live

• Estimated rent: $1,629 high
• Mortgage (P&I): −$498
• Tax from tax record: −$126 /mo · $1,513/yr
• Insurance: −$40
• HOA: −$0
• Vacancy / Maint / Mgmt: −$342
• Net cashflow: $624

Break-even live

Break-even rent $840

Max offer price $94,900

Occupancy floor 57%

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: $23,725
• Closing costs: $2,847
• Reserves months: —
• Total cash needed: —

Rent comps 29 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1331 W 34th St Indianapolis, IN	2.0	1.0	2160	$1,399	$0.65	23d	1	0.19mi
1331 W 34th St Indianapolis, IN	4.0	2.0	2160	$1,800	$0.83	14d	1	0.19mi
1061 W 33rd St Indianapolis, IN	3.0	2.0	2400	$1,550	$0.65	43d	1	0.21mi
962 W 35th St Indianapolis, IN	2.0	1.0	1768	$1,195	$0.68	3d	1	0.26mi
3057 Armory Dr Indianapolis, IN	2.0	2.0	1674	$1,695	$1.01	43d	1	0.61mi
3057 Armory Dr Indianapolis, IN	2.0	1.5	1674	$1,495	$0.89	7d	1	0.61mi
648 W 30th St Indianapolis, IN	3.0	2.0	1300	$1,500	$1.15	23d	1	0.70mi
2868 Indianapolis Ave Indianapolis, IN	3.0	2.0	2390	$1,550	$0.65	21d	1	0.97mi
2868 Indianapolis Ave Indianapolis, IN	3.0	2.0	2390	$1,550	$0.65	7d	1	0.97mi
1343 Edgemont Ave Indianapolis, IN	4.0	2.0	1545	$2,095	$1.36	43d	1	1.01mi
3031 Boulevard Pl Indianapolis, IN	3.0	1.5	1395	$1,450	$1.04	17d	1	1.08mi
3160 Graceland Ave Indianapolis, IN	4.0	2.0	1936	$2,000	$1.03	23d	1	1.09mi
143 W 35th St Indianapolis, IN	3.0	1.0	1235	$1,175	$0.95	7d	1	1.19mi
3622 N Capitol Ave Indianapolis, IN	3.0	1.0	1300	$1,300	$1.00	7d	1	1.20mi
445 W 25th St Indianapolis, IN	4.0	2.0	1500	$1,900	$1.27	43d	1	1.24mi
3827 Graceland Ave Indianapolis, IN	4.0	2.0	2195	$1,595	$0.73	43d	1	1.27mi
3621 N Kenwood Ave Indianapolis, IN	3.0	1.5	1521	$1,599	$1.05	3d	1	1.28mi
4117 Byram Ave Indianapolis, IN	4.0	2.0	1540	$1,930	$1.25	43d	1	1.28mi
3457 N Illinois St Indianapolis, IN	3.0	2.0	1230	$1,145	$0.93	23d	1	1.30mi
3655 N Kenwood Ave Indianapolis, IN	4.0	2.0	1700	$1,700	$1.00	23d	1	1.30mi
2146 Gent Ave Indianapolis, IN	3.0	2.0	1952	$2,000	$1.02	21d	1	1.34mi
731 W 43rd St Indianapolis, IN	4.0	4.0	1600	$3,350	$2.09	17d	1	1.35mi
324 W 41st St Indianapolis, IN	4.0	1.0	2566	$1,400	$0.55	23d	1	1.40mi
1135 W 21st St Indianapolis, IN	3.0	2.0	1296	$1,495	$1.15	23d	1	1.43mi
1133 W 21st St Indianapolis, IN	3.0	2.0	1296	$1,495	$1.15	23d	1	1.43mi
3103 N Meridian St Indianapolis, IN	3.0	2.0	1280	$1,775	$1.39	23d	1	1.45mi
528 W 43rd St Indianapolis, IN	4.0	2.0	2080	$2,750	$1.32	3d	1	1.47mi
3707 N Meridian St Indianapolis, IN	2.0	1.0–2.0	1042	$1,199	$1.15	43d	1	1.48mi
2602 Mansion Dr Indianapolis, IN	2.0–3.0	2.0	1850	$1,675	$0.91	7d	6	1.48mi

Listing history 32 events

1. 2026-04-01
   status Pending
2. 2026-03-31
   price $94,900
3. 2026-02-12
   price $99,900
4. 2026-01-05
   price $102,400
5. 2025-12-01
   price $104,900
6. 2025-10-28
   price $107,400
7. 2025-09-30
   status Active
8. 2025-09-17
   status Pending
9. 2025-08-24
   price $109,900
10. 2025-07-22
    price $134,900
11. 2025-06-19
    price $144,900
12. 2025-04-07
    price $149,900
13. 2025-02-03
    price $159,900
14. 2025-01-03
    price $169,900
15. 2024-12-03
    listed $179,900 Active
16. 2024-04-17
    status Active
17. 2024-04-17
    historical
18. 2024-01-30
    historical
19. 2024-01-27
    price $89,000
20. 2024-01-24
    status Active
21. 2024-01-08
    status Pending
22. 2023-12-26
    listed $145,000 Active
23. 2023-01-30
    soldstatus $53,000 Closed 149-char remark

    Show marketing remark (149 chars)

    Bring your imagination and make this 3 bedroom home into whatever you can think of. Property is mostly gutted so half your work is already completed.

24. 2023-01-19
    status Pending 149-char remark

    Show marketing remark (149 chars)

    Bring your imagination and make this 3 bedroom home into whatever you can think of. Property is mostly gutted so half your work is already completed.

25. 2022-12-30
    listed $69,900 Active 149-char remark

    Show marketing remark (149 chars)

    Bring your imagination and make this 3 bedroom home into whatever you can think of. Property is mostly gutted so half your work is already completed.

26. 2018-07-30
    soldstatus $15,000 Sold
27. 2018-07-16
    status Pending
28. 2018-06-18
    listed $18,000 Active
29. 2015-04-10
    historical
30. 2015-03-18
    listed $17,500 Active
31. 2012-12-24
    historical
32. 2012-07-23
    listed $20,000

ⓘ 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: $1,513 · $126/mo
• Projected year-2 tax: $1,513 · $126/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 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: $19,548
• − Mortgage interest: −$5,316
• − Property taxes: −$1,513
• − Insurance: −$474
• − Repairs & maintenance: −$1,564
• − Management: −$1,564
• − Depreciation: −$2,761
• Taxable income: $6,357
• Est. tax owed @ 24.0%: −$1,526
• After-tax cash flow: $5,958/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): 22,379
• Household income: $60,062
• Rent vs Own: 44.1% rent · 55.9% own
• Severe rent burden: 978.0

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: White 46% Black 40% Hispanic / Latino 8% Two or more races 6% Asian 2%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Romanian 2% Slovak 2% Italian 1%
• Foreign-born: 4% · Canada
• Languages at home: 93% English-only · Spanish 5% French/Haitian/Cajun 1% 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: ▼ -324.63%
• Current HPI: 319.7725
• Rent YoY: ▲ 6.43%
• 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

+374.5% since first listed

32 events — show timeline

• 2026-04-01 Pending — MIBOR as Distributed by MLS Grid
• 2026-03-31 Price Changed $94,900 MIBOR as Distributed by MLS Grid
• 2026-02-12 Price Changed $99,900 MIBOR as Distributed by MLS Grid
• 2026-01-05 Price Changed $102,400 MIBOR as Distributed by MLS Grid
• 2025-12-01 Price Changed $104,900 MIBOR as Distributed by MLS Grid
• 2025-10-28 Price Changed $107,400 MIBOR as Distributed by MLS Grid
• 2025-09-30 Relisted — MIBOR as Distributed by MLS Grid
• 2025-09-17 Pending — MIBOR as Distributed by MLS Grid
• 2025-08-24 Price Changed $109,900 MIBOR as Distributed by MLS Grid
• 2025-07-22 Price Changed $134,900 MIBOR as Distributed by MLS Grid
• 2025-06-19 Price Changed $144,900 MIBOR as Distributed by MLS Grid
• 2025-04-07 Price Changed $149,900 MIBOR as Distributed by MLS Grid
• 2025-02-03 Price Changed $159,900 MIBOR as Distributed by MLS Grid
• 2025-01-03 Price Changed $169,900 MIBOR as Distributed by MLS Grid
• 2024-12-03 Listed $179,900 MIBOR as Distributed by MLS Grid
• 2024-04-17 Relisted — MIBOR as Distributed by MLS Grid
• 2024-04-17 Listing Removed — MIBOR as Distributed by MLS Grid
• 2024-01-30 Listing Removed — MIBOR as Distributed by MLS Grid
• 2024-01-27 Price Changed $89,000 MIBOR as Distributed by MLS Grid
• 2024-01-24 Relisted — MIBOR as Distributed by MLS Grid
• 2024-01-08 Pending — MIBOR as Distributed by MLS Grid
• 2023-12-26 Listed $145,000 MIBOR as Distributed by MLS Grid
• 2023-01-30 Sold (MLS) $53,000 MIBOR as Distributed by MLS Grid
• 2023-01-19 Pending — MIBOR as Distributed by MLS Grid
• 2022-12-30 Listed $69,900 MIBOR as Distributed by MLS Grid
• 2018-07-30 Sold (MLS) $15,000 MIBOR as Distributed by MLS Grid
• 2018-07-16 Pending — MIBOR as Distributed by MLS Grid
• 2018-06-18 Listed $18,000 MIBOR as Distributed by MLS Grid
• 2015-04-10 Listing Removed — MIBOR as Distributed by MLS Grid
• 2015-03-18 Listed $17,500 MIBOR as Distributed by MLS Grid
• 2012-12-24 Listing Removed — MIBOR as Distributed by MLS Grid
• 2012-07-23 Listed $20,000 MIBOR as Distributed by MLS Grid

Property tax history

+23.2%/yr

Latest (2025): $1,513 · -49.3% YoY. Source: county tax records.