3711 N Butler Ave · Indianapolis city (balance), IN 46218

$104,900

3 bd · 1.0 ba · 980 sqft · SingleFamily public records · 37 Days on market

Built 1927 10,498 sqft lot $107/sqft · 32% above area Est $159k · 34% 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 +26.6/30.0
• ARV discount +15.0/15.0
• DSCR +9.1/10.0
• 1% rule +7.4/10.0
• 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

3 bedroom 1 bath home located at 37th and Butler. Would make a great investment home!

Key facts

• Arlington woods area
• 0.24 acre lot
• Built 1927

Tags

• ARLINGTON WOODS AREA
• EASY ACCESS TO DOWNTOWN
• QUIET RESIDENTIAL SETTING

Property features AI

Exterior

• Security: Smoke detector(s)
• Utilities: Public water; Municipal sewer; Electricity connected with circuit breakers
• Home design: Single-family residence; One story
• Construction: Aluminum siding and stone exterior; Block foundation
• Exterior features: City lot with sidewalks and mature trees

Interior

• Kitchen: Refrigerator; Range hood; Dishwasher; Water heater
• Bedrooms: Three bedrooms on the main level
• Bathrooms: One full bathroom on the main level
• Heating & cooling: Natural gas forced-air heating; No central cooling
• Interior features: Eat-in kitchen; Painted woodwork; Unfinished basement; Has view; Smoke detectors

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $105k.

Deal economics

• At list price, monthly cash flow is $281 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $105k).
• Recommended offer: $102k (3.0% below list) — sets the bar for market timing.
• Cap rate 9.5% 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 B — 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: Arlington Woods School 99 (math 2% / reading 8%, grade F, #970 of 994 statewide, top 99%, 335 students, 85% FRL); Shortridge High School (math 20% / reading 51%, grade F, #263 of 369 statewide, top 72%, 1,089 students, 70% FRL) — zoned schools at 78% FRL track the district average.
• Market conditions: Rents flat; 336 active listings in the ZIP; 38 comparable units currently listed for rent nearby; rentals at typical pace (median 25d 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 41% 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 $725 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 37 days — a 3% lower offer ($102k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 14y 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 $14k; list at $105k implies a 636% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1927 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $101,753 (3.0% below list)

Questions for the listing agent

1. It's been on market 37 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 1927 — 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: 1.24% ✓
• Cap rate: 9.51%
• Cash-on-cash: 11.47%
• DSCR: 1.51
• GRM: 6.7

CMA / ARV

• ARV (median comp): $159,370
• List price: $104,900
• Delta: -34.18%
• 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
3938 N Grand Ave	0.33mi	3/1.0	993 (+1%)	9mo	$135,000	$136	75
3536 N Hawthorne Ln	0.19mi	3/2.0	925 (-6%)	6mo	$149,900	$162	73
3614 N Whittier Pl	0.27mi	3/2.0	912 (-7%)	3mo	$171,999	$189	69
3715 N Irvington Ave	0.19mi	4/1.0 (+1)	1,104 (+13%)	5mo	$120,000	$109	61
5415 E 34th St	0.44mi	2/1.0 (-1)	908 (-7%)	2mo	$107,000	$118	61
3901 Wallace Ave	0.52mi	2/1.0 (-1)	1,047 (+7%)	0mo	$55,000	$53	59
5765 E 35th St	0.62mi	3/1.0	888 (-9%)	1mo	$146,000	$164	55
3904 N Graham Ave	0.59mi	3/1.0	1,080 (+10%)	1mo	$107,000	$99	55
3536 N Priscilla Ct	0.61mi	3/1.0	1,102 (+12%)	5mo	$133,500	$121	46
5660 E 34th St	0.60mi	3/1.5	1,104 (+13%)	4mo	$115,000	$104	46
3607 N Graham Ave	0.58mi	3/1.0	1,102 (+12%)	8mo	$116,000	$105	45
4850 E 34th St	0.58mi	2/1.0 (-1)	1,125 (+15%)	5mo	$95,000	$84	39

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: -1.7%
• Equity multiple: 0.94×
• Total profit: $-1,880
• Equity at exit: $15,641

10-year hold

• IRR: 5.4%
• Equity multiple: 1.36×
• Total profit: $10,533
• Equity at exit: $9,070

Cash invested: $29,372 (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: 336
• Price-to-rent: 6.7×

Monthly cashflow live

• Estimated rent: $1,298 high
• Mortgage (P&I): −$550
• Tax from tax record: −$150 /mo · $1,806/yr
• Insurance: −$44
• HOA: −$0
• Vacancy / Maint / Mgmt: −$273
• Net cashflow: $281

Break-even live

Break-even rent $942

Max offer price $104,900

Occupancy floor 73%

Sensitivity live

Price	-10% $340	-5% $311	+0% $281	+5% $251	+10% $221
Rent	-10% $178	-5% $230	+0% $281	+5% $332	+10% $383
Rate	-1.0pp $334	-0.5pp $308	base $281	+0.5pp $254	+1.0pp $226

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: $26,225
• Closing costs: $3,147
• Reserves months: —
• Total cash needed: —

Rent comps 38 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3639 N Emerson Ave Indianapolis, IN	4.0	1.0	1000	$1,450	$1.45	22d	1	0.18mi
3815 N Grand Ave Unit 3815 Indianapolis, IN	2.0	1.0	965	$1,250	$1.30	5d	1	0.20mi
3516 N Hawthorne Ln Indianapolis, IN	3.0	1.0	925	$1,225	$1.32	5d	1	0.23mi
3636 N Whittier Pl Indianapolis, IN	3.0	1.0	912	$995	$1.09	8d	1	0.26mi
3718 N Audubon Rd Indianapolis, IN	3.0	1.0	875	$1,300	$1.49	24d	1	0.48mi
3301 Mardenna Ave Indianapolis, IN	3.0	1.0	925	$1,200	$1.30	44d	1	0.50mi
3319 N Hawthorne Ln Indianapolis, IN	3.0	1.0	1084	$1,100	$1.01	24d	1	0.52mi
3316 N Emerson Ave Indianapolis, IN	3.0	1.0	912	$1,100	$1.21	24d	1	0.52mi
5602 Glencoe St Indianapolis, IN	3.0	1.0	1000	$1,749	$1.75	18d	1	0.63mi
3836 Priscilla Ave Indianapolis, IN	3.0	1.5	1040	$1,275	$1.23	3d	1	0.63mi
3332 Wallace Ave Indianapolis, IN	3.0	1.0	936	$1,600	$1.71	24d	1	0.70mi
3315 N Euclid Ave Indianapolis, IN	2.0	1.0	780	$1,300	$1.67	15d	1	0.87mi
3142 N Euclid Ave Indianapolis, IN	3.0	1.0	1050	$1,050	$1.00	44d	1	1.04mi
2950 N Dequincy St Indianapolis, IN	3.0	1.0	888	$1,375	$1.55	14d	1	1.08mi
4615 E 30th St Indianapolis, IN	2.0	1.0	660	$1,100	$1.67	24d	1	1.11mi
3149 N Gladstone Ave Indianapolis, IN	3.0	1.5	1036	$1,350	$1.30	8d	1	1.13mi
2932 Arthington Blvd Indianapolis, IN	3.0	1.0	900	$1,350	$1.50	24d	1	1.16mi
3725 N Sherman Dr #7 Indianapolis, IN	2.0	1.0	729	$845	$1.16	5d	1	1.18mi
4404 Park Forest Ct Indianapolis, IN	2.0	1.0	928	$1,180	$1.27	22d	2	1.31mi
4411 Park Forest Ct Indianapolis, IN	2.0	1.0	928	$1,180	$1.27	44d	1	1.32mi
4430 Park Forest Ct Indianapolis, IN	2.0	1.0	928	$1,180	$1.27	44d	1	1.33mi
4438 Park Forest Ct Indianapolis, IN	2.0	1.0	928	$1,180	$1.27	44d	1	1.34mi
3383 Station St Indianapolis, IN	3.0	1.0	744	$1,250	$1.68	24d	1	1.36mi
4437 Park Forest Ct Indianapolis, IN	2.0	1.0	928	$1,180	$1.27	44d	1	1.36mi
3615 Sherman Forest Dr Indianapolis, IN	4.0	1.0–2.5	1057	$1,544	$1.46	5d	1	1.36mi
4445 Park Forest Ct Indianapolis, IN	2.0	1.0	928	$1,180	$1.27	3d	1	1.37mi
4555 N Arlington Ave Indianapolis, IN	1.0–3.0	1.0–1.5	880	$1,379	$1.57	4d	30	1.38mi
4504 Park Forest Ct Indianapolis, IN	2.0	1.0	928	$1,180	$1.27	3d	1	1.39mi
4521 Park Forest Ct Indianapolis, IN	2.0	1.0	700	$1,180	$1.69	5d	1	1.39mi
3920 E 30th St Indianapolis, IN	3.0	1.0	1071	$1,350	$1.26	5d	1	1.40mi
3920 E 30th St Indianapolis, IN	3.0	1.0	1071	$1,350	$1.26	8d	1	1.40mi
2864 Forest Manor Ave Indianapolis, IN	3.0	1.0	1018	$1,500	$1.47	24d	1	1.43mi
4537 Park Forest Ct Indianapolis, IN	2.0	1.0	928	$1,180	$1.27	44d	1	1.45mi
4545 Park Forest Ct Indianapolis, IN	2.0	1.0	928	$1,180	$1.27	44d	1	1.45mi
3421 N Olney St Indianapolis, IN	2.0	1.0	720	$1,195	$1.66	17d	1	1.47mi
3522 N Olney St Indianapolis, IN	3.0	1.0	768	$1,300	$1.69	44d	1	1.47mi
4405 Park Forest Ct Indianapolis, IN	2.0	1.0	928	$1,180	$1.27	24d	1	1.48mi
2862 N Chester Ave Indianapolis, IN	3.0	2.0	1076	$1,520	$1.41	44d	1	1.49mi

Listing history 18 events

1. 2026-06-21
   days on market $104,900 Active 37 DOM
2. 2026-06-18
   days on market $104,900 Active 34 DOM
3. 2026-06-17
   days on market $104,900 Active 33 DOM
4. 2026-06-16
   days on market $104,900 Active 32 DOM
5. 2026-06-15
   days on market $104,900 Active 31 DOM
6. 2026-06-13
   days on market $104,900 Active 29 DOM
7. 2026-06-13
   days on market $104,900 Active 28 DOM
8. 2026-06-09
   days on market $104,900 Active 25 DOM
9. 2026-06-08
   days on market $104,900 Active 24 DOM
10. 2026-06-07
    days on market $104,900 Active 23 DOM
11. 2026-06-03
    days on market $104,900 Active 19 DOM
12. 2026-06-02
    days on market $104,900 Active 18 DOM
13. 2026-06-01
    days on market $104,900 Active 17 DOM
14. 2026-05-31
    days on market $104,900 Active 16 DOM
15. 2026-05-15
    listed $104,900 Active 491-char remark
16. 2012-07-20
    historical 85-char remark

    Show marketing remark (85 chars)

    3 bedroom 1 bath home located at 37th and Butler. Would make a great investment home!

17. 2012-07-18
    soldstatus $14,250 85-char remark

    Show marketing remark (85 chars)

    3 bedroom 1 bath home located at 37th and Butler. Would make a great investment home!

18. 2012-06-08
    listed $18,000 85-char remark

    Show marketing remark (85 chars)

    3 bedroom 1 bath home located at 37th and Butler. Would make a great investment home!

ⓘ 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: $1,806 · $150/mo
• Projected year-2 tax: $1,806 · $150/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 ≥101°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: $15,572
• − Mortgage interest: −$5,876
• − Property taxes: −$1,806
• − Insurance: −$524
• − Repairs & maintenance: −$1,246
• − Management: −$1,246
• − Depreciation: −$3,052
• Taxable income: $1,822
• Est. tax owed @ 24.0%: −$437
• After-tax cash flow: $2,933/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

+482.8% since first listed

4 events — show timeline

• 2026-05-15 Listed $104,900 MIBOR as Distributed by MLS Grid
• 2012-07-20 Listing Removed — MIBOR as Distributed by MLS Grid
• 2012-07-18 Sold (MLS) $14,250 MIBOR as Distributed by MLS Grid
• 2012-06-08 Listed $18,000 MIBOR as Distributed by MLS Grid

Property tax history

+3.6%/yr

Latest (2025): $1,806 · +22.6% YoY. Source: county tax records.