307 N Arlington Ave · Indianapolis city (balance), IN 46219

$319,900

6 bd · 3.0 ba · 3,375 sqft · MultiFamily · 30 Days on market

Built 1951 Fair condition 6,011 sqft lot Est $297k · 8% over

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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 +15.9/30.0
• DSCR +4.9/10.0
• 1% rule +4.3/10.0
• ARV discount +4.0/15.0
• Rent growth +3.2/5.0
• Livability +2.5/5.0
• Condition / age +2.2/5.0
• 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

A huge Irvington area duplex with tons of character! Downstairs unit is a sprawling 1755sqft 3 bed 2 full bath unit with wide hallways, high ceilings, nice foyer entry space, and a large living room. Upstairs unit is a 1620sqft 3bed 1 bath, with a huge main bedroom. Both units have large eat-in kitchens, and share free common laundry and plenty of paved parking in the rear of the building. Fabulous location in a neighborhood surrounded with beautiful historic homes, and easy access to downtown and 465.

Key facts

• Spacious duplex
• Proper primary suite
• 6,011 sq ft lot

Tags

• SPACIOUS DUPLEX
• PROPER PRIMARY SUITE
• OVERSIZED LIVING ROOM
• GENEROUS EAT-IN KITCHENS
• AMPLE PRIVATE PARKING
• EASY ACCESS TO DOWNTOWN

Property features AI

Finance

• Other: Property type: Residential income (duplex); Total units: 2; Total rooms across units: 15; Each unit listed as 3-bedroom; Each unit is one level; Each unit kitchen approx. 10x10; Utilities for units: central air and forced heat
• Financial info: Gross income reported: $33,000; Expenses reported: $0; Unit 1 rent: $1,300 per month; Unit 2 rent: $1,450 per month; Two rental units total

Exterior

• Parking: Paved area parking
• Security: Fire alarm
• Utilities: Sewer service; Water service
• Home design: Duplex residential income property; Converted property; Two stories
• Construction: Wood siding construction; Block foundation
• Exterior features: Access from lot; Paved parking area; Asphalt parking surface

Interior

• Kitchen: Eat-in kitchens; Range/oven; Refrigerator
• Bedrooms: Total of 6 bedrooms across units
• Bathrooms: Total of 3 bathrooms across units
• Heating & cooling: Forced air heating (natural gas); Central air conditioning
• Interior features: Has basement; Fire alarm
• Laundry & utility: Common laundry; Building utilities include water and sewer

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/1.5-bath units multifamily listed at $320k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $150 ($2k/yr) — positive. Per door: $75/mo.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $299k (6.6% below list).
• Recommended offer: $299k (6.6% below list) — sets the bar for 1% rule.
• Cap rate 6.9% 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: Frederick Douglass School 19 (math 9% / reading 13%, grade F, #909 of 994 statewide, top 92%, 444 students, 81% FRL); H L Harshman Middle School (math 3% / reading 16%, grade F, #316 of 330 statewide, top 96%, 549 students, 84% FRL).
• Market conditions: Rents rising (+2.6%/yr); 143 active listings in the ZIP; 1,906 units permitted in Marion County in 2024 (621 in 5+ unit buildings).
• At $2,988/mo this rent would consume 59% of the median local household income ($61k/yr) (locally 2191% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $10k 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 30 days — a 2% lower offer ($315k) is reasonable based on typical stale-listing flexibility.
• 11 sale attempts since 23y 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 $213k; list at $320k implies a 50% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1951 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $298,800 (6.6% below list)

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
4. Built in 1951 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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.
8. 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.
9. 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: 0.93% ✗
• Cap rate: 6.85%
• Cash-on-cash: 2.01%
• DSCR: 1.09
• GRM: 8.9

CMA / ARV

• ARV (on-the-fly): $297,000
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
6607 Irwin Dr	0.57mi	5/4.0 (-1)	3,280 (-3%)	9mo	$290,000	$88	52

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 · 2.63% rent growth · sell at horizon

5-year hold

• IRR: -13.5%
• Equity multiple: 0.52×
• Total profit: $-43,362
• Equity at exit: $47,698

10-year hold

• IRR: -5.2%
• Equity multiple: 0.67×
• Total profit: $-29,808
• Equity at exit: $27,659

Cash invested: $89,572 (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 46219

• Rents YoY: 2.6%
• Active inventory: 143
• Price-to-rent: 17.8×

Monthly cashflow live

• Estimated rent: $2,988 high
• Mortgage (P&I): −$1,678
• Tax est. 1.5%: −$400 /mo · $4,798/yr
• Insurance: −$133
• HOA: −$0
• Vacancy / Maint / Mgmt: −$627
• Net cashflow: $150

Break-even live

Break-even rent $2,798

Max offer price $319,900

Occupancy floor 90%

Sensitivity live

Price	-10% $371	-5% $260	+0% $150	+5% $39	+10% $-71
Rent	-10% $-86	-5% $32	+0% $150	+5% $268	+10% $386
Rate	-1.0pp $311	-0.5pp $231	base $150	+0.5pp $67	+1.0pp $-17

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	1.5	$2,988
Total (2 units)			$2,988

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: $79,975
• Closing costs: $9,597
• Reserves months: —
• Total cash needed: —

Listing history 37 events

1. 2026-06-21
   days on market $319,900 Active 30 DOM
2. 2026-06-18
   days on market $319,900 Active 27 DOM
3. 2026-06-17
   days on market $319,900 Active 26 DOM
4. 2026-06-16
   days on market $319,900 Active 25 DOM
5. 2026-06-15
   days on market $319,900 Active 24 DOM
6. 2026-06-13
   days on market $319,900 Active 22 DOM
7. 2026-06-13
   days on market $319,900 Active 21 DOM
8. 2026-06-09
   days on market $319,900 Active 18 DOM
9. 2026-06-08
   days on market $319,900 Active 17 DOM
10. 2026-06-07
    days on market $319,900 Active 16 DOM
11. 2026-06-03
    days on market $319,900 Active 12 DOM
12. 2026-06-02
    days on market $319,900 Active 11 DOM
13. 2026-06-01
    days on market $319,900 Active 10 DOM
14. 2026-05-31
    days on market $319,900 Active 9 DOM
15. 2026-05-22
    listed $319,900 Active
16. 2024-01-03
    historical $1,400
17. 2023-11-23
    price $1,400
18. 2023-11-02
    price $1,450
19. 2023-10-20
    listed $1,500
20. 2022-07-13
    soldstatus $213,000 Closed 507-char remark

    Show marketing remark (507 chars)

    A huge Irvington area duplex with tons of character! Downstairs unit is a sprawling 1755sqft 3 bed 2 full bath unit with wide hallways, high ceilings, nice foyer entry space, and a large living room. Upstairs unit is a 1620sqft 3bed 1 bath, with a huge main bedroom. Both units have large eat-in kitchens, and share free common laundry and plenty of paved parking in the rear of the building. Fabulous location in a neighborhood surrounded with beautiful historic homes, and easy access to downtown and 465.

21. 2022-05-09
    status Pending 507-char remark

    Show marketing remark (507 chars)

    A huge Irvington area duplex with tons of character! Downstairs unit is a sprawling 1755sqft 3 bed 2 full bath unit with wide hallways, high ceilings, nice foyer entry space, and a large living room. Upstairs unit is a 1620sqft 3bed 1 bath, with a huge main bedroom. Both units have large eat-in kitchens, and share free common laundry and plenty of paved parking in the rear of the building. Fabulous location in a neighborhood surrounded with beautiful historic homes, and easy access to downtown and 465.

22. 2022-05-06
    listed $225,000 Active 507-char remark

    Show marketing remark (507 chars)

    A huge Irvington area duplex with tons of character! Downstairs unit is a sprawling 1755sqft 3 bed 2 full bath unit with wide hallways, high ceilings, nice foyer entry space, and a large living room. Upstairs unit is a 1620sqft 3bed 1 bath, with a huge main bedroom. Both units have large eat-in kitchens, and share free common laundry and plenty of paved parking in the rear of the building. Fabulous location in a neighborhood surrounded with beautiful historic homes, and easy access to downtown and 465.

23. 2021-03-18
    listed $175,000
24. 2016-04-27
    listed $109,000
25. 2014-06-19
    historical
26. 2014-05-16
    soldstatus $98,000
27. 2014-03-01
    listed $103,000
28. 2008-07-16
    soldstatus $23,900
29. 2008-03-20
    listed $24,900
30. 2008-03-03
    historical
31. 2007-11-12
    listed $39,900
32. 2005-07-05
    soldstatus $55,900
33. 2005-02-08
    listed $53,900
34. 2004-07-03
    historical
35. 2004-02-09
    listed $119,900
36. 2004-02-08
    historical
37. 2003-08-12
    listed $119,900

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

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 · 18 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% 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: $35,856
• − Mortgage interest: −$17,919
• − Property taxes: −$4,798
• − Insurance: −$1,600
• − Repairs & maintenance: −$2,868
• − Management: −$2,868
• − Depreciation: −$9,306
• Taxable loss: −$3,505
• Est. tax savings @ 24.0%: +$841
• After-tax cash flow: $2,638/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.

Condition & rehab AI · 12 photos

Fair 45/100 Moderate rehab

A moderate rehab project is needed to improve the home's curb appeal and interior condition, enhancing its resale and rental value.

Repairs flagged

• Moderate exterior siding — moderate wear
• Minor interior paint — basic paint

Value-add opportunities

• Both paint exterior — enhances curb appeal and resale value
• Both repair siding — improves exterior condition and resale value
• Both update kitchen and bathrooms — modernizes spaces and increases value
• Both install new flooring — updates bedrooms and increases value

Renovation cost estimate screening

Repair item	Severity	Est. cost
exterior siding · moderate wear	Moderate	$3,000–15,000
interior paint · basic paint	Minor	$500–3,000
Total estimated repair cost · 2 items		$3,500–18,000

Value-add ROI direction

• Both paint exterior — enhances curb appeal and resale value ↑
• Both repair siding — improves exterior condition and resale value ↑
• Both update kitchen and bathrooms — modernizes spaces and increases value ↑
• Both install new flooring — updates bedrooms and increases value ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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): 38,855
• Household income: $60,803
• Rent vs Own: 41.0% rent · 59.0% own
• Severe rent burden: 2191.0

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 0.63)
• Race & ethnicity: White 54% Black 22% Hispanic / Latino 18% Two or more races 9%
• Hispanic origin (detail): Mexican 10% Puerto Rican 1%
• Common ancestry: Slovak 2% Romanian 2% Lithuanian 2%
• Foreign-born: 10% · Canada
• Languages at home: 85% English-only · Spanish 14%

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: ▼ -199.69%
• Current HPI: 289.8788
• Rent YoY: ▲ 2.63%
• 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

+166.8% since first listed

23 events — show timeline

• 2026-05-22 Listed $319,900 MIBOR as Distributed by MLS Grid
• 2024-01-03 Rental Removed $1,400 MIBOR
• 2023-11-23 Price Changed $1,400 MIBOR
• 2023-11-02 Price Changed $1,450 MIBOR
• 2023-10-20 Listed for Rent $1,500 MIBOR
• 2022-07-13 Sold (MLS) $213,000 MIBOR as Distributed by MLS Grid
• 2022-05-09 Pending — MIBOR as Distributed by MLS Grid
• 2022-05-06 Listed $225,000 MIBOR as Distributed by MLS Grid
• 2021-03-18 Listed $175,000 MIBOR as Distributed by MLS Grid
• 2016-04-27 Listed $109,000 MIBOR as Distributed by MLS Grid
• 2014-06-19 Listing Removed — MIBOR as Distributed by MLS Grid
• 2014-05-16 Sold (MLS) $98,000 MIBOR as Distributed by MLS Grid
• 2014-03-01 Listed $103,000 MIBOR as Distributed by MLS Grid
• 2008-07-16 Sold (MLS) $23,900 MIBOR as Distributed by MLS Grid
• 2008-03-20 Listed $24,900 MIBOR as Distributed by MLS Grid
• 2008-03-03 Listing Removed — MIBOR as Distributed by MLS Grid
• 2007-11-12 Listed $39,900 MIBOR as Distributed by MLS Grid
• 2005-07-05 Sold (MLS) $55,900 MIBOR as Distributed by MLS Grid
• 2005-02-08 Listed $53,900 MIBOR as Distributed by MLS Grid
• 2004-07-03 Listing Removed — MIBOR as Distributed by MLS Grid
• 2004-02-09 Listed $119,900 MIBOR as Distributed by MLS Grid
• 2004-02-08 Listing Removed — MIBOR as Distributed by MLS Grid
• 2003-08-12 Listed $119,900 MIBOR as Distributed by MLS Grid