3619 S Felton St · Marion, IN 46953

$65,000

3 bd · 1.0 ba · 1,080 sqft · SingleFamily public records · 86 Days on market

Built 1957 5,808 sqft lot $60/sqft · 25% below area Est $86k · 25% 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
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.7/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Opportunity awaits in the quiet town of Marion! This 3-bedroom, 1-bath, single-level home offers great potential for investors or buyers looking to add their personal touch. Featuring a functional layout, spacious yard, and charming exterior, this fixer-upper is ready for your vision. Conveniently located in a peaceful neighborhood, it's the perfect chance to create a cozy home or investment property. Don't miss out on this value-packed opportunity!

Key facts

• Spacious yard
• Charming exterior
• 5,808 sq ft lot

Tags

• SPACIOUS YARD
• CHARMING EXTERIOR
• PEACEFUL NEIGHBORHOOD

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $65k.

Deal economics

• At list price, monthly cash flow is $410 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $65k).
• Recommended offer: $61k (6.0% below list) — sets the bar for market timing.
• Cap rate 13.9% vs local median 8.7% in Marion — 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 65/100 on livability (#337 in IN) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: schools F, amenities F, commute F.
• Marion Community Schools (town): math 18% / reading 24% proficiency, ranked #277 of 301 in IN (top 92%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 67% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 112 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 52 units permitted in Grant County in 2024 (8 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $449 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Grant County population projected at -18% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $18k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 86 days — a 6% lower offer ($61k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 3y ago; this cycle's ask has dropped $4k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1957 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $61,100 (6.0% below list)

Questions for the listing agent

1. It's been on market 86 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1957 — 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. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
6. 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.
7. 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.
8. 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: 1.69% ✓
• Cap rate: 13.86%
• Cash-on-cash: 27.01%
• DSCR: 2.20
• GRM: 4.9

CMA / ARV

• ARV (median comp): $86,444
• List price: $65,000
• Delta: -24.81%
• 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
3609 S Boots St	0.08mi	3/1.0	1,012 (-6%)	1mo	$121,000	$120	85
817 E 39th St	0.25mi	3/1.0	1,048 (-3%)	9mo	$142,000	$135	76
3748 S Adams St	0.13mi	3/2.0	1,040 (-4%)	10mo	$149,900	$144	76
3640 S Adams St	0.05mi	2/1.0 (-1)	1,156 (+7%)	7mo	$41,000	$35	75
3639 S Felton St	0.03mi	3/1.0	960 (-11%)	9mo	$74,000	$77	73
3706 S Gallatin St	0.17mi	2/1.5 (-1)	984 (-9%)	1mo	$49,000	$50	70
3902 S Meridian St	0.38mi	2/1.0 (-1)	1,152 (+7%)	1mo	$85,000	$74	66
3507 S Allegheny Ave	0.70mi	3/1.0	1,008 (-7%)	3mo	$100,000	$99	54
3238 S Harvey St	0.60mi	3/2.0	1,140 (+6%)	6mo	$90,000	$79	54
4118 S Landess St	0.67mi	2/1.0 (-1)	1,024 (-5%)	6mo	$97,000	$95	50
2910 S Brownlee St	0.69mi	3/1.0	1,015 (-6%)	10mo	$10,250	$10	49
3804 S Carey St	0.62mi	3/1.0	960 (-11%)	5mo	$102,000	$106	48

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 21.0%
• Equity multiple: 1.86×
• Total profit: $15,579
• Equity at exit: $9,692

10-year hold

• IRR: 29.1%
• Equity multiple: 3.60×
• Total profit: $47,248
• Equity at exit: $5,620

Cash invested: $18,200 (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 46953

• Home prices YoY: -23.4%
• Active inventory: 112
• Price-to-rent: 4.9×

Monthly cashflow live

• Estimated rent: $1,097 medium
• Mortgage (P&I): −$341
• Tax from tax record: −$89 /mo · $1,072/yr
• Insurance: −$27
• HOA: −$0
• Vacancy / Maint / Mgmt: −$230
• Net cashflow: $410

Break-even live

Break-even rent $579

Max offer price $65,000

Occupancy floor 58%

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: $16,250
• Closing costs: $1,950
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
703 E 28th St Marion, IN	2.0	1.0	1085	$1,200	$1.11	43d	1	0.83mi
5000 Prestwick Sq Marion, IN	2.0–3.0	2.0	884	$1,100	$1.24	43d	5	1.14mi

Listing history 26 events

1. 2026-06-19
   days on market $65,000 Active 86 DOM
2. 2026-06-18
   days on market $65,000 Active 85 DOM
3. 2026-06-17
   days on market $65,000 Active 84 DOM
4. 2026-06-16
   days on market $65,000 Active 83 DOM
5. 2026-06-15
   days on market $65,000 Active 82 DOM
6. 2026-06-14
   days on market $65,000 Active 80 DOM
7. 2026-06-12
   days on market $65,000 Active 79 DOM
8. 2026-06-09
   days on market $65,000 Active 76 DOM
9. 2026-06-08
   days on market $65,000 Active 75 DOM
10. 2026-06-07
    days on market $65,000 Active 74 DOM
11. 2026-06-02
    days on market $65,000 Active 69 DOM
12. 2026-06-01
    days on market $65,000 Active 68 DOM
13. 2026-05-31
    days on market $65,000 Active 67 DOM
14. 2026-05-30
    days on market $65,000 Active 66 DOM
15. 2026-04-14
    price $65,000 453-char remark

    Show marketing remark (453 chars)

    Opportunity awaits in the quiet town of Marion! This 3-bedroom, 1-bath, single-level home offers great potential for investors or buyers looking to add their personal touch. Featuring a functional layout, spacious yard, and charming exterior, this fixer-upper is ready for your vision. Conveniently located in a peaceful neighborhood, it's the perfect chance to create a cozy home or investment property. Don't miss out on this value-packed opportunity!

16. 2026-04-14
    price $65,000 453-char remark

    Show marketing remark (453 chars)

    Opportunity awaits in the quiet town of Marion! This 3-bedroom, 1-bath, single-level home offers great potential for investors or buyers looking to add their personal touch. Featuring a functional layout, spacious yard, and charming exterior, this fixer-upper is ready for your vision. Conveniently located in a peaceful neighborhood, it's the perfect chance to create a cozy home or investment property. Don't miss out on this value-packed opportunity!

17. 2026-03-25
    listed $69,000 Active 453-char remark

    Show marketing remark (453 chars)

    Opportunity awaits in the quiet town of Marion! This 3-bedroom, 1-bath, single-level home offers great potential for investors or buyers looking to add their personal touch. Featuring a functional layout, spacious yard, and charming exterior, this fixer-upper is ready for your vision. Conveniently located in a peaceful neighborhood, it's the perfect chance to create a cozy home or investment property. Don't miss out on this value-packed opportunity!

18. 2026-03-25
    listed $69,000 Active 453-char remark

    Show marketing remark (453 chars)

    Opportunity awaits in the quiet town of Marion! This 3-bedroom, 1-bath, single-level home offers great potential for investors or buyers looking to add their personal touch. Featuring a functional layout, spacious yard, and charming exterior, this fixer-upper is ready for your vision. Conveniently located in a peaceful neighborhood, it's the perfect chance to create a cozy home or investment property. Don't miss out on this value-packed opportunity!

19. 2023-08-28
    status Pending
20. 2023-08-23
    historical
21. 2023-08-14
    status Pending
22. 2023-08-01
    historical
23. 2023-07-21
    status Pending
24. 2023-07-10
    status Pending
25. 2023-06-23
    price $45,000
26. 2023-06-15
    listed $50,000 Active

ⓘ 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: $1,072 · $89/mo
• Projected year-2 tax: $1,072 · $89/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 ≥100°F today · 18 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $13,168
• − Mortgage interest: −$3,641
• − Property taxes: −$1,072
• − Insurance: −$325
• − Repairs & maintenance: −$1,053
• − Management: −$1,053
• − Depreciation: −$1,891
• Taxable income: $4,133
• Est. tax owed @ 24.0%: −$992
• After-tax cash flow: $3,924/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: Marion Community Schools
• NCES district ID: 1806390
• Math proficiency: 18% ▼ -9.00%
• Reading proficiency: 24% ▼ -6.00%
• Median HH income: $33,415
• Composite: 17.13/100
• National rank: #9115
• State rank: #277 of 301 in IN

Livability — Marion

• Score: 65/100
• State rank: #337
• US rank: #13006

Category grades

Amenities F Commute F Cost of living A+ Crime A+ Employment F Housing A+ Health & safety D- User ratings C+

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Marion, IN
• County: Grant County · 41,561 people
• City population: 41,561
• Metro: Marion, IN
• Population (ZIP): 23,372
• Household income: $46,288
• Rent vs Own: 32.2% rent · 67.8% own
• Severe rent burden: 597.0

Population outlook (Grant County) Hauer SSP2

• Today (2025): 64,394 people
• By 2030: 62,145 · -3.5%
• By 2040: 57,252 · -11.1%
• By 2050: 52,968 · -17.7%
• By 2075: 45,986 · -28.6%
• By 2100: 39,400 · -38.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (77%)
• Race & ethnicity: White 77% Black 10% Two or more races 9% Hispanic / Latino 6%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Italian 3% Iranian 1% Slovak 1%
• Foreign-born: 2% · Canada
• Languages at home: 96% English-only · Spanish 3%

Political lean MEDSL · Grant

• 2024 margin: Solid R (+41.8) · D 28.2% · R 70.0% · Other 1.9%
• 2008→2024 swing: -28.7pp toward R · 2008: -13.1pp · 2024: -41.8pp
• All cycles: 2024: R+41.8 2020: R+38.8 2016: R+39.5 2012: R+22.0 2008: R+13.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -52.47%
• Current HPI: 171.7246
• Rent YoY: —
• Metro: Marion, 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

+30.0% since first listed

12 events — show timeline

• 2026-04-14 Price Changed $65,000 IRMLS
• 2026-04-14 Price Changed $65,000 MIBOR as Distributed by MLS Grid
• 2026-03-25 Listed $69,000 MIBOR as Distributed by MLS Grid
• 2026-03-25 Listed $69,000 IRMLS
• 2023-08-28 Pending — IRMLS
• 2023-08-23 Delisted — IRMLS
• 2023-08-14 Pending — IRMLS
• 2023-08-01 Delisted — IRMLS
• 2023-07-21 Pending — IRMLS
• 2023-07-10 Pending — IRMLS
• 2023-06-23 Price Changed $45,000 IRMLS
• 2023-06-15 Listed $50,000 IRMLS

Property tax history

+8.6%/yr

Latest (2025): $1,072 · +9.4% YoY. Source: county tax records.