3829 E 31st St · Indianapolis city (balance), IN 46218

$99,000

2 bd · 1.0 ba · 725 sqft · SingleFamily public records · 59 Days on market

Built 1924 4,530 sqft lot $137/sqft · 47% above area Est $134k · 26% under

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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 +17.9/30.0
• ARV discount +15.0/15.0
• DSCR +5.6/10.0
• 1% rule +5.0/10.0
• Rent growth +2.7/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.4/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Renovated 2 bed / 1 bath in Brightwood with strong rental history up to $1,200/month. New LVP flooring throughout, updated kitchen with butcher block counters and white shaker cabinetry, and a fully remodeled bathroom with tiled shower and modern vanity. 725 sqft on a single level, with fresh paint, newer fixtures, and a clean, move-in ready layout with good natural light in every room. Vinyl siding, central HVAC, and a spacious yard and off-street parking. Located minutes from downtown, I-70, and the new Washington Park development. Ideal for investors seeking cash flow or owner occupants looking for a low maintenance, turnkey home at an accessible price point. Seller is a licensed real estate agent in Indiana.

Key facts

• Updated kitchen
• Modern vanity
• Tiled shower

Tags

• UPDATED KITCHEN
• BUTCHER BLOCK COUNTERS
• WHITE SHAKER CABINETRY
• FULLY REMODELED BATHROOM
• TILED SHOWER
• MODERN VANITY

🏷️ Possibly a rental listed for sale. The $99,000 price doesn't fit this home's estimated sale value (~$134,311) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $99k.

Deal economics

• At list price, monthly cash flow is $82 ($989/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 $99k (0.4% below list).
• Recommended offer: $96k (3.0% below list) — sets the bar for market timing.
• Cap rate 7.3% 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 flat; 334 active listings in the ZIP; 20 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); lower-income renter base — watch delinquency; 1,906 units permitted in Marion County in 2024 (621 in 5+ unit buildings).
• This rent runs 31% of the median local income ($38k/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 $684 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.

Negotiation context

• It's been on market 59 days — a 3% lower offer ($96k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $16k (14%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1924 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $96,030 (3.0% below list)

Questions for the listing agent

1. It's been on market 59 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1924 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 1.00% ✗
• Cap rate: 7.29%
• Cash-on-cash: 3.57%
• DSCR: 1.16
• GRM: 8.4

CMA / ARV

• ARV (median comp): $134,311
• List price: $99,000
• Delta: -26.29%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2907 Forest Manor Ave	0.26mi	2/1.0	768 (+6%)	1mo	$73,000	$95	77
3109 Forest Manor Ave	0.23mi	2/1.0	750 (+3%)	8mo	$115,000	$153	77
3114 Adams St	0.47mi	2/1.0	725 (0%)	3mo	$63,000	$87	76
3111 Station St	0.16mi	2/1.0	776 (+7%)	11mo	$100,000	$129	72
2919 N Denny St	0.16mi	2/1.0	816 (+13%)	6mo	$52,500	$64	66
2839 N Lasalle St	0.55mi	2/1.0	768 (+6%)	5mo	$55,000	$72	60
2724 N Dearborn St	0.69mi	2/1.0	720 (-1%)	10mo	$95,000	$132	58
2954 N Drexel Ave	0.48mi	2/1.0	672 (-7%)	10mo	$129,999	$193	57
4615 E 30th St	0.52mi	1/1.0 (-1)	660 (-9%)	6mo	$45,000	$68	51
3015 Adams St	0.43mi	2/1.0	819 (+13%)	9mo	$155,000	$189	51
2820 N Gladstone Ave	0.38mi	1/1.0 (-1)	806 (+11%)	9mo	$39,900	$50	51
2942 N Dearborn St	0.59mi	2/1.0	825 (+14%)	7mo	$70,000	$85	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 · 0.81% rent growth · sell at horizon

5-year hold

• IRR: -13.2%
• Equity multiple: 0.53×
• Total profit: $-12,894
• Equity at exit: $14,761

10-year hold

• IRR: -8.1%
• Equity multiple: 0.54×
• Total profit: $-12,724
• Equity at exit: $8,560

Cash invested: $27,720 (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 46218

• Home prices YoY: -17.1%
• Rents YoY: 0.8%
• Active inventory: 334
• Price-to-rent: 8.4×

Monthly cashflow live

• Estimated rent: $986 high
• Mortgage (P&I): −$519
• Tax from tax record: −$136 /mo · $1,632/yr
• Insurance: −$41
• HOA: −$0
• Vacancy / Maint / Mgmt: −$207
• Net cashflow: $82

Break-even live

Break-even rent $882

Max offer price $99,000

Occupancy floor 87%

Sensitivity live

Price	-10% $138	-5% $110	+0% $82	+5% $54	+10% $26
Rent	-10% $5	-5% $44	+0% $82	+5% $121	+10% $160
Rate	-1.0pp $132	-0.5pp $108	base $82	+0.5pp $57	+1.0pp $31

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: $24,750
• Closing costs: $2,970
• Reserves months: —
• Total cash needed: —

Rent comps 20 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3383 Station St Indianapolis, IN	3.0	1.0	744	$1,250	$1.68	24d	1	0.47mi
2722 N Olney St Indianapolis, IN	2.0	1.0	650	$795	$1.22	44d	1	0.49mi
4615 E 30th St Indianapolis, IN	2.0	1.0	660	$1,100	$1.67	24d	1	0.49mi
2930 N Dearborn St Indianapolis, IN	1.0	1.0	536	$599	$1.12	24d	1	0.61mi
3421 N Olney St Indianapolis, IN	2.0	1.0	720	$1,195	$1.66	17d	1	0.62mi
2422 Adams St Unit 2 Indianapolis, IN	1.0	1.0	700	$850	$1.21	44d	1	0.72mi
4726 E 34th St Indianapolis, IN	1.0	1.0	643	$800	$1.24	24d	1	0.79mi
2449 Wheeler St Indianapolis, IN	1.0	1.0	600	$950	$1.58	24d	1	0.84mi
3011 Oxford Ln Indianapolis, IN	1.0	1.0	640	$800	$1.25	44d	1	0.86mi
3725 N Sherman Dr #7 Indianapolis, IN	2.0	1.0	729	$845	$1.16	4d	1	0.91mi
2821 Oxford Ln Indianapolis, IN	1.0	1.0	640	$825	$1.29	44d	1	0.96mi
2530 N Temple Ave Indianapolis, IN	1.0	1.0	720	$750	$1.04	21d	1	1.08mi
3615 Sherman Forest Dr Indianapolis, IN	4.0	1.0–2.5	1057	$1,288	$1.22	5d	1	1.10mi
2030 N Colorado Ave Indianapolis, IN	2.0	1.0	728	$1,150	$1.58	24d	1	1.12mi
1951 N Bosart Ave Indianapolis, IN	2.0	1.0	728	$1,000	$1.37	4d	1	1.30mi
1931 N Oxford St Indianapolis, IN	1.0	1.0	616	$875	$1.42	4d	1	1.40mi
2519 Baltimore Ave Unit B Indianapolis, IN	2.0	1.0	482	$775	$1.61	24d	1	1.41mi
3363 Nicholas Ave Indianapolis, IN	2.0	1.0	720	$1,000	$1.39	4d	1	1.42mi
4115 Meadows Dr Indianapolis, IN	1.0–3.0	1.0–2.0	1013	$1,374	$1.36	44d	9	1.44mi
3719 Hillside Ave Indianapolis, IN	1.0	1.0	644	$725	$1.13	24d	1	1.47mi

Listing history 19 events

1. 2026-06-18
   days on market $99,000 Active 59 DOM
2. 2026-06-17
   days on market $99,000 Active 58 DOM
3. 2026-06-16
   days on market $99,000 Active 57 DOM
4. 2026-06-15
   days on market $99,000 Active 56 DOM
5. 2026-06-13
   days on market $99,000 Active 54 DOM
6. 2026-06-13
   days on market $99,000 Active 53 DOM
7. 2026-06-09
   days on market $99,000 Active 50 DOM
8. 2026-06-08
   days on market $99,000 Active 49 DOM
9. 2026-06-07
   days on market $99,000 Active 48 DOM
10. 2026-06-03
    days on market $99,000 Active 44 DOM
11. 2026-06-02
    days on market $99,000 Active 43 DOM
12. 2026-06-01
    days on market $99,000 Active 42 DOM
13. 2026-05-31
    days on market $99,000 Active 41 DOM
14. 2026-05-05
    price $109,900 721-char remark

    Show marketing remark (721 chars)

    Renovated 2 bed / 1 bath in Brightwood with strong rental history up to $1,200/month. New LVP flooring throughout, updated kitchen with butcher block counters and white shaker cabinetry, and a fully remodeled bathroom with tiled shower and modern vanity. 725 sqft on a single level, with fresh paint, newer fixtures, and a clean, move-in ready layout with good natural light in every room. Vinyl siding, central HVAC, and a spacious yard and off-street parking. Located minutes from downtown, I-70, and the new Washington Park development. Ideal for investors seeking cash flow or owner occupants looking for a low maintenance, turnkey home at an accessible price point. Seller is a licensed real estate agent in Indiana.

15. 2026-04-20
    listed $114,900 Active 721-char remark

    Show marketing remark (721 chars)

    Renovated 2 bed / 1 bath in Brightwood with strong rental history up to $1,200/month. New LVP flooring throughout, updated kitchen with butcher block counters and white shaker cabinetry, and a fully remodeled bathroom with tiled shower and modern vanity. 725 sqft on a single level, with fresh paint, newer fixtures, and a clean, move-in ready layout with good natural light in every room. Vinyl siding, central HVAC, and a spacious yard and off-street parking. Located minutes from downtown, I-70, and the new Washington Park development. Ideal for investors seeking cash flow or owner occupants looking for a low maintenance, turnkey home at an accessible price point. Seller is a licensed real estate agent in Indiana.

16. 2025-11-18
    historical
17. 2025-10-13
    price $133,900
18. 2025-09-04
    listed $134,900 Active
19. 2022-05-12
    price $1,000

ⓘ 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: $1,632 · $136/mo
• Projected year-2 tax: $1,632 · $136/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 · 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: $11,832
• − Mortgage interest: −$5,546
• − Property taxes: −$1,632
• − Insurance: −$495
• − Repairs & maintenance: −$947
• − Management: −$947
• − Depreciation: −$2,880
• Taxable loss: −$614
• Est. tax savings @ 24.0%: +$147
• After-tax cash flow: $1,137/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): 29,360
• Household income: $38,063
• Rent vs Own: 47.2% rent · 52.8% own
• Severe rent burden: 2340.0

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: Predominantly Black (68%)
• Race & ethnicity: Black 68% White 18% Hispanic / Latino 9% Two or more races 6%
• Hispanic origin (detail): Mexican 6%
• Common ancestry: Romanian 1%
• Foreign-born: 5% · Canada, Philippines
• Languages at home: 92% English-only · Spanish 7%

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: ▼ -81.57%
• Current HPI: 395.7071
• Rent YoY: ▲ 0.81%
• 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

+10890.0% since first listed

6 events — show timeline

• 2026-05-05 Price Changed $109,900 MIBOR as Distributed by MLS Grid
• 2026-04-20 Listed $114,900 MIBOR as Distributed by MLS Grid
• 2025-11-18 Listing Removed — MIBOR as Distributed by MLS Grid
• 2025-10-13 Price Changed $133,900 MIBOR as Distributed by MLS Grid
• 2025-09-04 Listed $134,900 MIBOR as Distributed by MLS Grid
• 2022-05-12 Price Changed $1,000 RENT.

Property tax history

+25.4%/yr

Latest (2025): $1,632 · +32.9% YoY. Source: county tax records.