3748 Ruckle St · Indianapolis city (balance), IN 46205

$170,000

4 bd · 2.5 ba · 1,744 sqft · MultiFamily public records · 191 Days on market

Built 1910 5,271 sqft lot $97/sqft · 24% below area Est $255k · 33% under

---

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 +22.5/30.0
• ARV discount +15.0/15.0
• DSCR +7.2/10.0
• 1% rule +4.9/10.0
• 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: 1 unit. estimate disagrees with records

Listing remarks MLS

Located at 3748 Ruckle ST, INDIANAPOLIS, IN, this single family residence offers a unique opportunity, presenting a fantastic investment prospect or a canvas awaiting the personal touch of a handy homeowner. The property's condition makes it ideal for those looking to invest wisely. This residence features three bedrooms, offering comfortable spaces for rest and relaxation. Imagine the possibilities for creating personalized retreats within these rooms, each tailored to individual preferences and needs. With two full bathrooms and one half bathroom, convenience is thoughtfully integrated into the home's design, accommodating both daily routines and the needs of guests. Spanning 1744 square feet of living area, the home provides a generous environment for a variety of living arrangements. The 5271 square feet lot allows for enjoyment of outdoor activities. Built in 1910, this two story home offers a blend of classic charm with modern potential. This property invites you to unlock its full potential and create a home that reflects your unique vision.

Key facts

• 5,271 sq ft lot
• Built 1910
• Listed 191 days

What this means for you Summary

Snapshot

• This is a 4-bed/2.5-bath multifamily listed at $170k.

Deal economics

• At list price, monthly cash flow is $287 ($3k/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 $169k (0.8% below list).
• Recommended offer: $150k (12.0% below list) — sets the bar for market timing.
• Cap rate 8.3% 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 fast (+6.2%/yr); 314 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).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k 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 + 6.2% rent growth), your $48k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 191 days — a 12% lower offer ($150k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

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

Recommended offer $149,600 (12.0% below list)

Questions for the listing agent

1. It's been on market 191 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 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: 0.99% ✗
• Cap rate: 8.32%
• Cash-on-cash: 7.23%
• DSCR: 1.32
• GRM: 8.4

CMA / ARV

• ARV (median comp): $255,457
• List price: $170,000
• Delta: -33.45%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 6.21% rent growth · sell at horizon

5-year hold

• IRR: -2.0%
• Equity multiple: 0.92×
• Total profit: $-3,706
• Equity at exit: $25,348

10-year hold

• IRR: 10.6%
• Equity multiple: 1.94×
• Total profit: $44,733
• Equity at exit: $14,698

Cash invested: $47,600 (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: 314
• Price-to-rent: 8.4×

Monthly cashflow live

• Estimated rent: $1,687 high
• Mortgage (P&I): −$891
• Tax from tax record: −$84 /mo · $1,003/yr
• Insurance: −$71
• HOA: −$0
• Vacancy / Maint / Mgmt: −$354
• Net cashflow: $287

Break-even live

Break-even rent $1,324

Max offer price $170,000

Occupancy floor 78%

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: $42,500
• Closing costs: $5,100
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3558 Central Ave Indianapolis, IN	3.0	1.0	1215	$2,100	$1.73	24d	1	0.23mi
3851 Broadway St Indianapolis, IN	3.0	1.0	1513	$1,950	$1.29	18d	1	0.23mi
4022 Central Ave Indianapolis, IN	3.0	1.0	1288	$1,500	$1.16	22d	1	0.37mi
3801 N Meridian St Indianapolis, IN	1.0–3.0	1.0–2.0	1057	$2,022	$1.91	20d	35	0.39mi
4040 N College Ave Indianapolis, IN	3.0	1.5	1280	$1,900	$1.48	8d	1	0.42mi
3509 Guilford Ave Indianapolis, IN	3.0	1.5	1351	$1,445	$1.07	15d	1	0.47mi
3365 Broadway St Indianapolis, IN	3.0	2.0	1300	$1,700	$1.31	44d	1	0.49mi
3370 N College Ave Indianapolis, IN	3.0	1.0	1680	$1,275	$0.76	2d	1	0.49mi
728 E 34th St Indianapolis, IN	3.0	1.0	1491	$1,400	$0.94	4d	1	0.51mi
728 E 34th St Indianapolis, IN	3.0	1.0	1491	$1,400	$0.94	20d	1	0.51mi
3541 Birchwood Ave Indianapolis, IN	3.0	1.0	1400	$1,549	$1.11	12d	1	0.54mi
514 E 33rd St Indianapolis, IN	3.0	1.0	1208	$1,200	$0.99	24d	1	0.55mi
512 E 33rd St Indianapolis, IN	3.0	1.0	1208	$1,200	$0.99	24d	1	0.55mi
3476 Birchwood Ave Indianapolis, IN	3.0	1.5	1420	$1,625	$1.14	24d	1	0.55mi
3655 N Kenwood Ave Indianapolis, IN	4.0	2.0	1700	$1,700	$1.00	24d	1	0.60mi
3621 N Kenwood Ave Indianapolis, IN	3.0	1.5	1521	$1,599	$1.05	3d	1	0.61mi
3457 N Illinois St Indianapolis, IN	3.0	2.0	1230	$1,145	$0.93	24d	1	0.63mi
3502 N Kenwood Ave Indianapolis, IN	3.0	2.0	1094	$1,220	$1.12	44d	1	0.69mi
3622 N Capitol Ave Indianapolis, IN	3.0	1.0	1300	$1,300	$1.00	8d	1	0.70mi
143 W 35th St Indianapolis, IN	3.0	1.0	1235	$1,175	$0.95	8d	1	0.72mi
3827 Graceland Ave Indianapolis, IN	4.0	2.0	2195	$1,595	$0.73	44d	1	0.73mi
3141 N Park Ave Indianapolis, IN	3.0	1.0	1390	$1,000	$0.72	44d	1	0.74mi
3128 Broadway St Indianapolis, IN	4.0	1.5	1999	$2,200	$1.10	24d	1	0.78mi
3415 N Capitol Ave Indianapolis, IN	3.0	1.0	1176	$1,249	$1.06	24d	1	0.78mi
3413 N Capitol Ave Indianapolis, IN	3.0	1.0	1176	$1,249	$1.06	11d	1	0.78mi
3106 N College Ave Indianapolis, IN	3.0	1.5	1400	$1,700	$1.21	8d	1	0.82mi
321 E 31st St Indianapolis, IN	3.0	1.0	1390	$1,400	$1.01	44d	1	0.84mi
320 W 39th St Indianapolis, IN	4.0	2.0	1216	$2,200	$1.81	8d	1	0.86mi
319 W 40th St Indianapolis, IN	3.0	1.0	1176	$1,295	$1.10	14d	1	0.87mi
3208 Guilford Ave Indianapolis, IN	3.0	3.0	1800	$1,700	$0.94	12d	1	0.87mi
3103 N Meridian St Indianapolis, IN	3.0	2.0	1280	$1,775	$1.39	24d	1	0.89mi
3139 Guilford Ave Indianapolis, IN	3.0	1.0	1068	$1,345	$1.26	44d	1	0.91mi
3110 Guilford Ave Indianapolis, IN	3.0	1.5	1250	$1,295	$1.04	24d	1	0.94mi
2960 N Park Ave Indianapolis, IN	3.0	1.5	1400	$1,550	$1.11	24d	1	0.95mi
2960 N Park Ave Indianapolis, IN	3.0	2.0	1400	$1,595	$1.14	44d	1	0.95mi
2958 N Park Ave Unit 2958 Indianapolis, IN	3.0	1.5	1350	$1,450	$1.07	3d	1	0.96mi
3004 N Delaware St Indianapolis, IN	3.0	1.5	1600	$1,599	$1.00	8d	1	0.97mi
2950 Ruckle St Indianapolis, IN	3.0	1.0	1450	$1,300	$0.90	44d	1	0.97mi
206 W 43rd St Indianapolis, IN	3.0	2.5	1544	$2,500	$1.62	24d	1	0.99mi
2955 N Delaware St Indianapolis, IN	3.0	1.5	1400	$1,600	$1.14	44d	1	1.01mi

Listing history 14 events

1. 2026-06-18
   days on market $170,000 Active 191 DOM
2. 2026-06-17
   days on market $170,000 Active 190 DOM
3. 2026-06-16
   days on market $170,000 Active 189 DOM
4. 2026-06-15
   days on market $170,000 Active 188 DOM
5. 2026-06-13
   days on market $170,000 Active 186 DOM
6. 2026-06-13
   days on market $170,000 Active 185 DOM
7. 2026-06-09
   days on market $170,000 Active 182 DOM
8. 2026-06-08
   days on market $170,000 Active 181 DOM
9. 2026-06-07
   days on market $170,000 Active 180 DOM
10. 2026-06-03
    days on market $170,000 Active 176 DOM
11. 2026-06-02
    days on market $170,000 Active 175 DOM
12. 2026-06-01
    days on market $170,000 Active 174 DOM
13. 2026-05-31
    days on market $170,000 Active 173 DOM
14. 2025-12-09
    listed $170,000 Active 1064-char remark

    Show marketing remark (1064 chars)

    Located at 3748 Ruckle ST, INDIANAPOLIS, IN, this single family residence offers a unique opportunity, presenting a fantastic investment prospect or a canvas awaiting the personal touch of a handy homeowner. The property's condition makes it ideal for those looking to invest wisely. This residence features three bedrooms, offering comfortable spaces for rest and relaxation. Imagine the possibilities for creating personalized retreats within these rooms, each tailored to individual preferences and needs. With two full bathrooms and one half bathroom, convenience is thoughtfully integrated into the home's design, accommodating both daily routines and the needs of guests. Spanning 1744 square feet of living area, the home provides a generous environment for a variety of living arrangements. The 5271 square feet lot allows for enjoyment of outdoor activities. Built in 1910, this two story home offers a blend of classic charm with modern potential. This property invites you to unlock its full potential and create a home that reflects your unique vision.

ⓘ 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: $1,003 · $84/mo
• Projected year-2 tax: $1,224 · $102/mo
• Expected delta: +$221/yr (+$18/mo · 22.1%)

ⓘ 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: $20,244
• − Mortgage interest: −$9,523
• − Property taxes: −$1,003
• − Insurance: −$850
• − Repairs & maintenance: −$1,620
• − Management: −$1,620
• − Depreciation: −$4,945
• Taxable income: $685
• Est. tax owed @ 24.0%: −$164
• After-tax cash flow: $3,278/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

1 event — show timeline

• 2025-12-09 Listed $170,000 MIBOR as Distributed by MLS Grid

Property tax history

+12.5%/yr

Latest (2025): $1,003 · -63.3% YoY. Source: county tax records.