3105 Walker Ave · Indianapolis city (balance), IN 46203

$75,000

2 bd · 1.0 ba · 804 sqft · SingleFamily public records · 29 Days on market

Built 1941 10,019 sqft lot ↓ 30% since listing

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Rent growth +3.2/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.4/10.0
• Appreciation +0.0/10.0

Listing remarks

This isn't a small bungalow play - it's a corner lot acquisition. Walker sits on a full . 23 acres (50x200 ft) in a solid southside neighborhood, with a 2-car garage and a shed tucked at the back of the property. The footprint alone makes this worth a hard look before you ever step inside. The interior currently contains personal property - haul-out is already being coordinated. Landscaping is also being addressed. Property is boarded; bring a drill with a #2 square bit for entry. Price reflects condition. The lot, the garage, and the zip code tell the rest of the story.

Key facts

• Full acres
• Shed
• 2 car garage

Tags

• CORNER LOT
• FULL ACRES
• 2 CAR GARAGE
• SHED
• SOLID SOUTHSIDE NEIGHBORHOOD

Property features AI

Finance

• Other: Lot under 1/4 acre (approximately 0.23 acre); Residential property

Exterior

• Parking: Detached 2-car garage
• Utilities: Public water; Municipal sewer connected
• Home design: Single-family residence; One level
• Construction: Aluminum siding; Block foundation
• Exterior features: Front porch

Interior

• Kitchen: Disposal; Gas water heater
• Bedrooms: 2 bedrooms (both on the main level)
• Bathrooms: 1 full bathroom (on the main level)
• Heating & cooling: Forced air heating (natural gas); Central air conditioning; Cellar basement
• Interior features: Eat-in kitchen; Smoke alarm

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $75k.

Deal economics

• At list price, monthly cash flow is $394 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $75k).
• Recommended offer: $74k (1.5% below list) — sets the bar for market timing.
• Cap rate 12.6% 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.
• Market conditions: Rents rising (+2.9%/yr); 493 active listings in the ZIP; 38 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 $519 of loan paydown is wiped out by about $2k 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 + 2.9% rent growth), your $21k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 29 days — a 2% lower offer ($74k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 19y 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.

Risks & watch-outs

• Watch-outs: built in 1941 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $73,875 (1.5% below list)

Questions for the listing agent

1. Built in 1941 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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.
4. 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.
5. 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: 1.54% ✓
• Cap rate: 12.59%
• Cash-on-cash: 22.49%
• DSCR: 2.00
• GRM: 5.4

CMA / ARV

• ARV (on-the-fly): $154,368
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3153 E Tabor St	0.34mi	2/1.0	840 (+4%)	1mo	$100,000	$119	76
434 N 18th Ave	0.43mi	2/1.0	768 (-4%)	10mo	$175,000	$228	64
2343 Cameron St	0.67mi	2/1.0	768 (-4%)	3mo	$150,000	$195	58
2343 Saint Peter St	0.60mi	3/1.0 (+1)	864 (+8%)	3mo	$113,000	$131	52
2301 Cameron St	0.74mi	2/1.0	768 (-4%)	8mo	$165,000	$215	52
2317 Saint Paul St	0.67mi	2/1.0	748 (-7%)	8mo	$142,500	$191	51
2541 Saint Peter St	0.55mi	3/1.0 (+1)	910 (+13%)	2mo	$115,000	$126	46
2334 S Keystone Ave	0.59mi	2/1.0	912 (+13%)	9mo	$175,000	$192	43
3014 Alice Ave	0.73mi	2/1.0	728 (-10%)	12mo	$104,500	$144	40
2411 Harlan St	0.69mi	2/1.0	905 (+13%)	11mo	$145,000	$160	37
2563 Harlan St	0.65mi	3/1.0 (+1)	910 (+13%)	9mo	$178,500	$196	35
2306 Finley Ave	0.61mi	3/2.0 (+1)	912 (+13%)	12mo	$200,000	$219	30

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 · 2.88% rent growth · sell at horizon

5-year hold

• IRR: 15.2%
• Equity multiple: 1.61×
• Total profit: $12,789
• Equity at exit: $11,183

10-year hold

• IRR: 23.8%
• Equity multiple: 3.04×
• Total profit: $42,911
• Equity at exit: $6,485

Cash invested: $21,000 (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 46203

• Home prices YoY: -26.7%
• Rents YoY: 2.9%
• Active inventory: 493
• Price-to-rent: 5.4×

Monthly cashflow live

• Estimated rent: $1,154 high
• Mortgage (P&I): −$393
• Tax est. 1.5%: −$94 /mo · $1,125/yr
• Insurance: −$31
• HOA: −$0
• Vacancy / Maint / Mgmt: −$242
• Net cashflow: $394

Break-even live

Break-even rent $656

Max offer price $75,000

Occupancy floor 61%

Sensitivity live

Price	-10% $445	-5% $419	+0% $394	+5% $368	+10% $342
Rent	-10% $302	-5% $348	+0% $394	+5% $439	+10% $485
Rate	-1.0pp $431	-0.5pp $413	base $394	+0.5pp $374	+1.0pp $354

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: $18,750
• Closing costs: $2,250
• Reserves months: —
• Total cash needed: —

Rent comps 38 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2430 E Kelly St Indianapolis, IN	2.0	1.0	965	$949	$0.98	44d	1	0.57mi
2430 Albany St Beech Grove, IN	2.0	1.0	800	$899	$1.12	15d	1	0.58mi
2430 Albany St Apt 01 Beech Grove, IN	2.0	1.0	800	$899	$1.12	8d	1	0.58mi
2315 Bischoff Dr Beech Grove, IN	2.0	1.0	1065	$848	$0.80	24d	2	0.68mi
2633 S Randolph St Indianapolis, IN	2.0	1.0	900	$995	$1.11	11d	1	0.79mi
2633 S Randolph St Unit b Indianapolis, IN	2.0	1.0	900	$995	$1.11	24d	1	0.79mi
1730 Perkins Ave Indianapolis, IN	3.0	1.0	924	$1,300	$1.41	24d	1	0.84mi
2469 Dawson St Indianapolis, IN	2.0	1.0	700	$949	$1.36	4d	4	0.89mi
3012 E Minnesota St Indianapolis, IN	2.0	1.0	875	$1,000	$1.14	44d	1	0.92mi
3012 E Minnesota St Indianapolis, IN	2.0	1.0	767	$1,000	$1.30	24d	1	0.93mi
2036 Calhoun St Indianapolis, IN	2.0	1.0	880	$1,200	$1.36	8d	1	0.93mi
3206 S Temple Ave Indianapolis, IN	2.0	1.0	784	$1,080	$1.38	24d	1	0.97mi
1505 S Rural St Indianapolis, IN	3.0	1.0	1104	$1,500	$1.36	13d	1	1.06mi
1637 Hoefgen St Indianapolis, IN	2.0	1.0	780	$1,000	$1.28	44d	1	1.07mi
1706 E Tabor St Unit 1708 Indianapolis, IN	3.0	1.0	1000	$1,300	$1.30	8d	1	1.07mi
1604 E Kelly St Indianapolis, IN	2.0	1.0	750	$1,025	$1.37	18d	1	1.18mi
1604 E Kelly St Indianapolis, IN	2.0	1.0	800	$1,025	$1.28	11d	1	1.18mi
1815 Dawson St Unit 1815 Indianapolis, IN	2.0	1.0	1019	$999	$0.98	15d	1	1.19mi
1549 Nelson Ave Indianapolis, IN	3.0	1.0	950	$1,380	$1.45	44d	1	1.19mi
1727 S Randolph St Indianapolis, IN	1.0	1.0	616	$950	$1.54	44d	1	1.20mi
3518 Terrace Ave Indianapolis, IN	3.0	1.0	864	$1,300	$1.50	44d	1	1.22mi
3146 Asbury St Indianapolis, IN	2.0	1.0	728	$850	$1.17	8d	1	1.27mi
68 N 7th Ave #2 Beech Grove, IN	1.0	1.0	600	$825	$1.38	44d	1	1.29mi
1409 E Tabor St Indianapolis, IN	1.0	1.0	528	$775	$1.47	24d	1	1.33mi
64 N 6th Ave Apt 2 Beech Grove, IN	1.0	1.0	550	$825	$1.50	13d	1	1.34mi
108 S 8th Ave Beech Grove, IN	2.0	1.5	816	$1,225	$1.50	11d	1	1.36mi
1640 Asbury St Indianapolis, IN	1.0	1.0	700	$850	$1.21	44d	1	1.36mi
1534 Dawson St Indianapolis, IN	3.0	1.0	1040	$1,499	$1.44	24d	1	1.38mi
80 N 5th Ave Beech Grove, IN	2.0	2.0	900	$1,150	$1.28	8d	1	1.38mi
1637 S State Ave Indianapolis, IN	2.0	1.5	816	$900	$1.10	18d	1	1.38mi
82 N 5th Ave Beech Grove, IN	2.0	2.0	900	$1,295	$1.44	44d	1	1.39mi
1503 Dawson St Indianapolis, IN	2.0	1.0	700	$1,200	$1.71	44d	1	1.41mi
3441 Prospect St Indianapolis, IN	2.0	1.0	1008	$1,500	$1.49	24d	1	1.42mi
3441 Prospect St Indianapolis, IN	2.0	1.0	1008	$1,700	$1.69	45d	1	1.42mi
1543 S State Ave Indianapolis, IN	2.0	1.0	1086	$1,100	$1.01	8d	1	1.43mi
1144 McDougal St Indianapolis, IN	3.0	1.0	876	$1,500	$1.71	22d	1	1.48mi
1620 E Palmer St Indianapolis, IN	2.0	1.0	824	$1,200	$1.46	24d	1	1.48mi
1026 Laurel St Indianapolis, IN	1.0	1.0	655	$860	$1.31	44d	1	1.49mi

Listing history 16 events

1. 2026-06-18
   days on market $75,000 Active 29 DOM
2. 2026-06-17
   days on market $75,000 Active 28 DOM
3. 2026-06-16
   days on market $75,000 Active 27 DOM
4. 2026-06-15
   days on market $75,000 Active 26 DOM
5. 2026-06-13
   days on market $75,000 Active 24 DOM
6. 2026-06-13
   days on market $75,000 Active 23 DOM
7. 2026-06-09
   days on market $75,000 Active 20 DOM
8. 2026-06-08
   days on market $75,000 Active 19 DOM
9. 2026-06-07
   days on market $75,000 Active 18 DOM
10. 2026-06-03
    days on market $75,000 Active 14 DOM
11. 2026-06-02
    days on market $75,000 Active 13 DOM
12. 2026-06-01
    days on market $75,000 Active 12 DOM
13. 2026-05-31
    days on market $75,000 Active 11 DOM
14. 2026-05-20
    listed $75,000 Active
15. 2007-12-29
    historical
16. 2007-06-29
    listed $107,900

ⓘ 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 ≥101°F today · 19 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $13,851
• − Mortgage interest: −$4,201
• − Property taxes: −$1,125
• − Insurance: −$375
• − Repairs & maintenance: −$1,108
• − Management: −$1,108
• − Depreciation: −$2,182
• Taxable income: $3,752
• Est. tax owed @ 24.0%: −$900
• After-tax cash flow: $3,822/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): 37,758
• Household income: $57,393
• Rent vs Own: 42.2% rent · 57.8% own
• Severe rent burden: 1499.0

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 White (69%)
• Race & ethnicity: White 69% Hispanic / Latino 14% Black 12% Two or more races 8% Asian 2% Native American 1%
• Hispanic origin (detail): Mexican 12% Puerto Rican 1%
• Common ancestry: Slovak 2% Lithuanian 2% Italian 1%
• Foreign-born: 8% · Canada
• Languages at home: 88% English-only · Spanish 10% Other Indo-European 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: ▼ -127.37%
• Current HPI: 349.579
• Rent YoY: ▲ 2.88%
• 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

-30.5% since first listed

3 events — show timeline

• 2026-05-20 Listed $75,000 MIBOR as Distributed by MLS Grid
• 2007-12-29 Listing Removed — MIBOR as Distributed by MLS Grid
• 2007-06-29 Listed $107,900 MIBOR as Distributed by MLS Grid

Property tax history

+25.7%/yr

Latest (2025): $5,169 · +177.5% YoY. Source: county tax records.