1315 W 34th St · Indianapolis city (balance), IN 46208

$147,000

3 bd · 1.0 ba · 1,720 sqft · SingleFamily public records · 1 Days on market

Built 1932 5,793 sqft lot Est $143k · at est.

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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 +19.1/30.0
• ARV discount +6.2/15.0
• DSCR +6.0/10.0
• 1% rule +5.8/10.0
• 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

Calling all investors and renovators! This 3 bedroom, 1 bath home is full of potential and ready for your personal touch. The main level features both a living room and a separate den, providing flexible living and entertaining spaces. Outside, enjoy a generously sized backyard with endless possibilities for outdoor living or future improvements. Conveniently located just minutes from downtown, this property offers easy access to shopping, dining, entertainment, and major roadways. Don't miss this opportunity to add value and make this property your next investment project!

Key facts

• Separate den
• 5,793 sq ft lot
• Built 1932

Tags

• SEPARATE DEN
• GENEROUSLY SIZED BACKYARD
• EASY ACCESS TO SHOPPING
• EASY ACCESS TO DINING
• EASY ACCESS TO ENTERTAINMENT
• EASY ACCESS TO MAJOR ROADWAYS

Property features AI

Exterior

• Utilities: Public water; Municipal sewer connected; Solid waste service available
• Home design: Single-family residence; One and one half stories
• Construction: Brick and wood siding exterior; Block foundation
• Exterior features: Lot under 1/4 acre (approx. 0.13 acre)

Interior

• Kitchen: Kitchen (16x15)
• Bedrooms: Three bedrooms on upper level
• Bathrooms: One full bathroom (upper level)
• Heating & cooling: No heating specified; No cooling specified
• Interior features: Eat-in kitchen; Basement
• Laundry & utility: Main level laundry (10x7)

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $147k.

Deal economics

• At list price, monthly cash flow is $156 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $147k).
• Cap rate 7.6% 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 rising fast (+6.4%/yr); 279 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 32% 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 $1k of loan paydown is wiped out by about $4k 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 $41k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• 10 sale attempts since 12y 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 $42k; list at $147k implies a 246% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1932 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $147,000

Questions for the listing agent

1. Built in 1932 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
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: 1.08% ✓
• Cap rate: 7.57%
• Cash-on-cash: 4.56%
• DSCR: 1.20
• GRM: 7.7

CMA / ARV

• ARV (on-the-fly): $142,760
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1205 W 32nd St	0.20mi	3/1.0	1,686 (-2%)	0mo	$122,500	$73	87
1307 Congress Ave	0.22mi	3/2.0	1,655 (-4%)	2mo	$200,000	$121	78
1453 W 34th St	0.16mi	3/1.0	1,528 (-11%)	1mo	$150,000	$98	73
3105 N White River Parkway East Dr	0.36mi	3/3.0	1,715 (-0%)	3mo	$230,000	$134	72
1340 W 32nd St	0.13mi	2/1.0 (-1)	1,878 (+9%)	5mo	$79,900	$43	70
962 W 35th St	0.43mi	2/1.0 (-1)	1,768 (+3%)	1mo	$97,900	$55	69
1149 W 36th St	0.25mi	2/1.0 (-1)	1,605 (-7%)	4mo	$134,000	$83	69
3052 Skylar Ln	0.41mi	2/1.5 (-1)	1,674 (-3%)	2mo	$145,729	$87	68
1226 W 29th St	0.47mi	2/1.0 (-1)	1,616 (-6%)	1mo	$127,900	$79	62
950 W 28th St	0.73mi	3/2.5	1,713 (-0%)	1mo	$320,000	$187	58
1030 W 37th St	0.42mi	2/1.0 (-1)	1,888 (+10%)	3mo	$145,000	$77	56
1346 W 27th St	0.65mi	3/2.0	1,932 (+12%)	4mo	$150,000	$78	41

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: -5.1%
• Equity multiple: 0.80×
• Total profit: $-8,146
• Equity at exit: $21,918

10-year hold

• IRR: 8.4%
• Equity multiple: 1.75×
• Total profit: $30,881
• Equity at exit: $12,710

Cash invested: $41,160 (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: 7.7×

Monthly cashflow live

• Estimated rent: $1,582 high
• Mortgage (P&I): −$771
• Tax from tax record: −$261 /mo · $3,131/yr
• Insurance: −$61
• HOA: −$0
• Vacancy / Maint / Mgmt: −$332
• Net cashflow: $156

Break-even live

Break-even rent $1,384

Max offer price $147,000

Occupancy floor 85%

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: $36,750
• Closing costs: $4,410
• Reserves months: —
• Total cash needed: —

Rent comps 40 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	0.02mi
1331 W 34th St Indianapolis, IN	4.0	2.0	2160	$1,800	$0.83	14d	1	0.02mi
1054 W 31st St Unit A Indianapolis, IN	2.0	1.0	1200	$1,500	$1.25	43d	1	0.41mi
962 W 35th St Indianapolis, IN	2.0	1.0	1768	$1,195	$0.68	3d	1	0.43mi
3217 Rader St Indianapolis, IN	3.0	1.0	1200	$1,299	$1.08	43d	1	0.44mi
3057 Armory Dr Indianapolis, IN	2.0	1.5	1674	$1,495	$0.89	7d	1	0.44mi
3057 Armory Dr Indianapolis, IN	2.0	2.0	1674	$1,695	$1.01	43d	1	0.44mi
1227 W 29th St Indianapolis, IN	3.0	1.5	1056	$1,250	$1.18	23d	1	0.49mi
926 W 32nd St Indianapolis, IN	3.0	2.0	1050	$1,295	$1.23	7d	1	0.52mi
826 W 29th St Indianapolis, IN	3.0	2.0	1200	$1,595	$1.33	43d	1	0.78mi
824 W 29th St Indianapolis, IN	3.0	2.0	1200	$1,595	$1.33	43d	1	0.80mi
648 W 30th St Indianapolis, IN	3.0	2.0	1300	$1,500	$1.15	23d	1	0.81mi
1244 Edgemont Ave Indianapolis, IN	2.0	1.0	1092	$1,275	$1.17	43d	1	0.90mi
1343 Edgemont Ave Indianapolis, IN	4.0	2.0	1545	$2,095	$1.36	43d	1	0.92mi
3017 Ethel Ave Indianapolis, IN	3.0	1.5	1079	$1,400	$1.30	23d	1	0.96mi
560 Udell St Indianapolis, IN	3.0	1.5	1176	$1,190	$1.01	23d	1	0.99mi
538 W 29th St Indianapolis, IN	3.0	1.0	1132	$1,349	$1.19	23d	1	0.99mi
2248 N Harding St Indianapolis, IN	2.0	1.0	1100	$899	$0.82	23d	1	1.11mi
1367 W Pruitt St Indianapolis, IN	3.0	1.0	1088	$1,450	$1.33	43d	1	1.14mi
3031 Boulevard Pl Indianapolis, IN	3.0	1.5	1395	$1,450	$1.04	17d	1	1.22mi
3160 Graceland Ave Indianapolis, IN	4.0	2.0	1936	$2,000	$1.03	23d	1	1.23mi
2146 Gent Ave Indianapolis, IN	3.0	2.0	1952	$2,000	$1.02	21d	1	1.28mi
445 W 25th St Indianapolis, IN	4.0	2.0	1500	$1,900	$1.27	43d	1	1.31mi
2602 Mansion Dr Indianapolis, IN	2.0–3.0	2.0	1850	$1,675	$0.91	7d	6	1.31mi
608 Bernard Ave Indianapolis, IN	3.0	2.0	1056	$1,475	$1.40	3d	1	1.32mi
3413 N Capitol Ave Indianapolis, IN	3.0	1.0	1176	$1,249	$1.06	10d	1	1.33mi
3415 N Capitol Ave Indianapolis, IN	3.0	1.0	1176	$1,249	$1.06	23d	1	1.33mi
143 W 35th St Indianapolis, IN	3.0	1.0	1235	$1,175	$0.95	7d	1	1.36mi
3622 N Capitol Ave Indianapolis, IN	3.0	1.0	1300	$1,300	$1.00	7d	1	1.37mi
1135 W 21st St Indianapolis, IN	3.0	2.0	1296	$1,495	$1.15	23d	1	1.38mi
1133 W 21st St Indianapolis, IN	3.0	2.0	1296	$1,495	$1.15	23d	1	1.38mi
320 W 39th St Indianapolis, IN	4.0	2.0	1216	$2,200	$1.81	7d	1	1.38mi
3502 N Kenwood Ave Indianapolis, IN	3.0	2.0	1094	$1,220	$1.12	43d	1	1.39mi
3109 N Centennial St Indianapolis, IN	4.0	2.0	1664	$1,495	$0.90	43d	1	1.42mi
2825 N Kessler Boulevard Dr Indianapolis, IN	3.0	1.5	1228	$1,701	$1.39	23d	1	1.43mi
4117 Byram Ave Indianapolis, IN	4.0	2.0	1540	$1,930	$1.25	43d	1	1.43mi
3827 Graceland Ave Indianapolis, IN	4.0	2.0	2195	$1,595	$0.73	43d	1	1.44mi
3621 N Kenwood Ave Indianapolis, IN	3.0	1.5	1521	$1,599	$1.05	3d	1	1.45mi
319 W 40th St Indianapolis, IN	3.0	1.0	1176	$1,295	$1.10	14d	1	1.46mi
3457 N Illinois St Indianapolis, IN	3.0	2.0	1230	$1,145	$0.93	23d	1	1.47mi

Listing history 2 events

1. 2026-06-18
   remarks 580-char remark
2. 2026-06-18
   listed $147,000 Active 1 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: $3,131 · $261/mo
• Projected year-2 tax: $3,131 · $261/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 ≥102°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: $18,979
• − Mortgage interest: −$8,234
• − Property taxes: −$3,131
• − Insurance: −$735
• − Repairs & maintenance: −$1,518
• − Management: −$1,518
• − Depreciation: −$4,276
• Taxable loss: −$435
• Est. tax savings @ 24.0%: +$104
• After-tax cash flow: $1,981/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

+488.0% since first listed

23 events — show timeline

• 2026-06-18 Listed $147,000 MIBOR as Distributed by MLS Grid
• 2025-02-20 Listing Removed — MIBOR as Distributed by MLS Grid
• 2024-10-31 Listed $134,900 MIBOR as Distributed by MLS Grid
• 2024-08-15 Listing Removed — MIBOR as Distributed by MLS Grid
• 2024-03-05 Listed $125,000 MIBOR as Distributed by MLS Grid
• 2023-09-30 Rental Removed $1,250 APPFOLIO
• 2023-08-31 Listed for Rent $1,250 APPFOLIO
• 2022-12-07 Listing Removed — MIBOR as Distributed by MLS Grid
• 2022-11-01 Relisted — MIBOR as Distributed by MLS Grid
• 2022-10-18 Pending — MIBOR as Distributed by MLS Grid
• 2022-10-14 Listed $65,000 MIBOR as Distributed by MLS Grid
• 2021-05-14 Sold (MLS) $42,500 MIBOR as Distributed by MLS Grid
• 2021-04-27 Pending — MIBOR as Distributed by MLS Grid
• 2021-02-25 Relisted — MIBOR as Distributed by MLS Grid
• 2021-02-15 Pending — MIBOR as Distributed by MLS Grid
• 2021-02-08 Listed $50,000 MIBOR as Distributed by MLS Grid
• 2016-08-31 Pending — MIBOR as Distributed by MLS Grid
• 2016-08-31 Listed $10,000 MIBOR as Distributed by MLS Grid
• 2016-08-26 Sold (MLS) $10,000 MIBOR as Distributed by MLS Grid
• 2015-12-06 Listing Removed — MIBOR as Distributed by MLS Grid
• 2015-09-22 Price Changed $15,000 MIBOR as Distributed by MLS Grid
• 2015-05-07 Price Changed $19,000 MIBOR as Distributed by MLS Grid
• 2014-09-30 Listed $25,000 MIBOR as Distributed by MLS Grid

Property tax history

+22.1%/yr

Latest (2025): $3,131 · +14.2% YoY. Source: county tax records.