3903 Marseille Rd · Indianapolis city (balance), IN 46226

$134,900

3 bd · 1.0 ba · 972 sqft · SingleFamily public records · 55 Days on market

Built 1961 7,449 sqft lot $139/sqft · 9% below area Est $148k · 9% 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 +19.0/30.0
• ARV discount +11.6/15.0
• DSCR +6.0/10.0
• 1% rule +5.5/10.0
• Rent growth +4.2/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.4/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Great Investment Opportunity. With a little bit of work, this home will be rent-ready once again.

Key facts

• Near schools
• Breakfast room
• Large backyard

Tags

• LIVING AREA
• OPEN KITCHEN
• BREAKFAST ROOM
• LARGE BACKYARD
• CONVENIENT LOCATION
• NEAR SCHOOLS

Property features AI

Exterior

• Parking: Attached garage (1 car, approximately 351 sq ft)
• Utilities: Public water; Municipal sewer
• Home design: Single-family residence; One level
• Construction: Brick and stone exterior; Slab foundation
• Exterior features: Full yard fence; Sidewalks

Interior

• Kitchen: Electric oven; Refrigerator; Electric water heater
• Bedrooms: 3 bedrooms (all on the main level)
• Bathrooms: 1 full bathroom (on the main level)
• Heating & cooling: Baseboard heating; Electric heating; Forced air; No central air
• Interior features: Eat-in kitchen; Living room; Dining room; Kitchen

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $135k.

Deal economics

• At list price, monthly cash flow is $141 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $135k).
• Recommended offer: $131k (3.0% below list) — sets the bar for market timing.
• Cap rate 7.5% 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 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.
• Zoned schools: Charles Warren Fairbanks Sch 105 (math 2% / reading 8%, grade F, #970 of 994 statewide, top 99%, 313 students, 78% FRL); Arsenal Technical High School (math 6% / reading 27%, grade F, #353 of 369 statewide, top 96%, 2,366 students, 74% FRL) — zoned schools at 76% FRL track the district average.
• Market conditions: Rents rising fast (+6.8%/yr); 151 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); 1,906 units permitted in Marion County in 2024 (621 in 5+ unit buildings).
• This rent runs 34% of the median local income ($50k/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 $933 of loan paydown is wiped out by about $4k 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 + 6.8% rent growth), your $38k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 55 days — a 3% lower offer ($131k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 16y ago; this cycle's ask has dropped $10k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $33k; list at $135k implies a 309% gain — meaningful room to come down on a strong offer.

Recommended offer $130,853 (3.0% below list)

Questions for the listing agent

1. It's been on market 55 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 1961 — 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: 1.05% ✓
• Cap rate: 7.55%
• Cash-on-cash: 4.47%
• DSCR: 1.20
• GRM: 7.9

CMA / ARV

• ARV (median comp): $148,365
• List price: $134,900
• Delta: -9.08%
• Verdict: FAIR
• 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 Biscayne Rd	0.21mi	3/1.0	925 (-5%)	0mo	$132,000	$143	82
3930 Chateau Dr	0.06mi	3/1.0	1,073 (+10%)	1mo	$99,000	$92	79
8724 Montery Rd	0.25mi	3/1.0	925 (-5%)	2mo	$134,900	$146	79
8242 E 42nd St	0.46mi	3/1.5	936 (-4%)	2mo	$165,000	$176	68
3733 Harvest Ave	0.31mi	3/1.0	1,055 (+8%)	7mo	$119,500	$113	65
3965 Alsace Pl	0.21mi	3/1.0	864 (-11%)	9mo	$189,000	$219	64
8340 E 41st Pl	0.37mi	3/1.0	864 (-11%)	1mo	$140,000	$162	64
8246 E 41st Pl	0.42mi	3/1.0	864 (-11%)	1mo	$120,500	$139	62
4132 Biscayne Rd	0.41mi	3/1.0	1,073 (+10%)	5mo	$104,900	$98	60
8138 E 34th Pl	0.66mi	2/1.0 (-1)	1,025 (+6%)	5mo	$145,000	$141	51
4054 Arborcrest Dr	0.37mi	4/1.0 (+1)	1,098 (+13%)	8mo	$170,000	$155	49
3525 Lombardy Pl	0.51mi	4/2.0 (+1)	1,047 (+8%)	7mo	$180,000	$172	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 · 6.76% rent growth · sell at horizon

5-year hold

• IRR: -5.0%
• Equity multiple: 0.81×
• Total profit: $-7,275
• Equity at exit: $20,114

10-year hold

• IRR: 8.8%
• Equity multiple: 1.80×
• Total profit: $30,089
• Equity at exit: $11,664

Cash invested: $37,772 (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 46226

• Rents YoY: 6.8%
• Active inventory: 151
• Price-to-rent: 7.9×

Monthly cashflow live

• Estimated rent: $1,417 high
• Mortgage (P&I): −$707
• Tax from tax record: −$215 /mo · $2,581/yr
• Insurance: −$56
• HOA: −$0
• Vacancy / Maint / Mgmt: −$298
• Net cashflow: $141

Break-even live

Break-even rent $1,239

Max offer price $134,900

Occupancy floor 85%

Sensitivity live

Price	-10% $217	-5% $179	+0% $141	+5% $103	+10% $64
Rent	-10% $29	-5% $85	+0% $141	+5% $197	+10% $253
Rate	-1.0pp $209	-0.5pp $175	base $141	+0.5pp $106	+1.0pp $70

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: $33,725
• Closing costs: $4,047
• Reserves months: —
• Total cash needed: —

Rent comps 20 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3938 Biscayne Rd Indianapolis, IN	3.0	1.0	1000	$1,895	$1.90	3d	1	0.19mi
3809 Biscayne Rd Indianapolis, IN	2.0	1.5	992	$1,020	$1.03	15d	1	0.21mi
8724 Montery Rd Indianapolis, IN	3.0	1.0	925	$1,500	$1.62	44d	1	0.23mi
8862 Bel Air Ct Indianapolis, IN	3.0	1.0	1073	$1,264	$1.18	18d	1	0.28mi
3631 Decamp Dr Indianapolis, IN	3.0	1.0	1000	$1,335	$1.33	24d	1	0.42mi
9060 E 39th Pl Indianapolis, IN	1.0–2.0	1.0–1.5	820	$1,040	$1.27	24d	1	0.51mi
4315 Aspen Way Indianapolis, IN	3.0	1.0	1080	$1,380	$1.28	44d	1	0.54mi
7925 Crossbridge Dr Indianapolis, IN	2.0	2.0	1072	$1,200	$1.12	44d	1	0.59mi
7975 Red Mill Dr Indianapolis, IN	2.0	1.0	576	$975	$1.69	44d	1	0.66mi
9226 E 36th Pl Indianapolis, IN	3.0	1.0	1073	$1,250	$1.16	8d	1	0.77mi
9438 Conried Dr Indianapolis, IN	3.0	1.0	1094	$1,445	$1.32	5d	1	0.86mi
3525 Luewan Ct Indianapolis, IN	4.0	1.0	1107	$1,750	$1.58	24d	1	0.95mi
3519 Jerome Ct Indianapolis, IN	4.0	1.0	1107	$1,995	$1.80	24d	1	0.99mi
7838 Ridgewood Dr Indianapolis, IN	3.0	2.0	936	$1,540	$1.65	44d	1	1.01mi
7838 Ridgewood Dr Indianapolis, IN	3.0	2.0	936	$1,540	$1.65	24d	1	1.01mi
3226 Wellington Ave Indianapolis, IN	3.0	1.0	900	$1,149	$1.28	11d	1	1.11mi
3962 Strathmore Dr Indianapolis, IN	3.0	1.0	925	$1,250	$1.35	24d	1	1.15mi
3775 Allerton Pl Indianapolis, IN	1.0–4.0	2.0	1068	$1,617	$1.51	14d	1	1.37mi
7171 Twin Oaks Dr Indianapolis, IN	3.0	1.0–1.5	801	$1,399	$1.75	24d	9	1.46mi
10101 Montery Rd Indianapolis, IN	2.0	1.0	627	$1,439	$2.30	2d	10	1.50mi

Listing history 21 events

1. 2026-06-18
   days on market $134,900 Active 55 DOM
2. 2026-06-17
   days on market $134,900 Active 54 DOM
3. 2026-06-16
   days on market $134,900 Active 53 DOM
4. 2026-06-15
   days on market $134,900 Active 52 DOM
5. 2026-06-13
   days on market $134,900 Active 50 DOM
6. 2026-06-13
   days on market $134,900 Active 49 DOM
7. 2026-06-09
   days on market $134,900 Active 46 DOM
8. 2026-06-08
   days on market $134,900 Active 45 DOM
9. 2026-06-07
   days on market $134,900 Active 44 DOM
10. 2026-06-03
    days on market $134,900 Active 40 DOM
11. 2026-06-02
    days on market $134,900 Active 39 DOM
12. 2026-06-01
    days on market $134,900 Active 38 DOM
13. 2026-05-31
    price $134,900 Active 37 DOM
14. 2026-05-31
    days on market $139,900 Active 37 DOM
15. 2026-05-15
    price $139,900 272-char remark
16. 2026-04-24
    listed $144,900 Active 272-char remark
17. 2017-09-15
    soldstatus $33,000 Sold 98-char remark

    Show marketing remark (98 chars)

    Great Investment Opportunity. With a little bit of work, this home will be rent-ready once again.

18. 2017-08-28
    status Pending 98-char remark

    Show marketing remark (98 chars)

    Great Investment Opportunity. With a little bit of work, this home will be rent-ready once again.

19. 2017-08-14
    listed $41,000 Active 98-char remark

    Show marketing remark (98 chars)

    Great Investment Opportunity. With a little bit of work, this home will be rent-ready once again.

20. 2010-09-10
    historical
21. 2010-03-09
    listed $45,000

ⓘ 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: $2,581 · $215/mo
• Projected year-2 tax: $2,581 · $215/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 0% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $17,006
• − Mortgage interest: −$7,556
• − Property taxes: −$2,581
• − Insurance: −$674
• − Repairs & maintenance: −$1,360
• − Management: −$1,360
• − Depreciation: −$3,924
• Taxable loss: −$451
• Est. tax savings @ 24.0%: +$108
• After-tax cash flow: $1,798/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): 47,099
• Household income: $50,325
• Rent vs Own: 53.8% rent · 46.2% own
• Severe rent burden: 2742.0

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 0.62)
• Race & ethnicity: Black 53% White 25% Hispanic / Latino 17% Two or more races 9% Asian 2%
• Hispanic origin (detail): Mexican 11%
• Common ancestry: Lithuanian 1% Italian 1% Romanian 1%
• Foreign-born: 11% · Canada
• Languages at home: 86% English-only · Spanish 10% French/Haitian/Cajun 1% Other Asian/Pacific 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: ▼ -218.85%
• Current HPI: 239.43
• Rent YoY: ▲ 6.76%
• 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

+199.8% since first listed

8 events — show timeline

• 2026-05-31 Price Changed $134,900 MIBOR as Distributed by MLS Grid
• 2026-05-15 Price Changed $139,900 MIBOR as Distributed by MLS Grid
• 2026-04-24 Listed $144,900 MIBOR as Distributed by MLS Grid
• 2017-09-15 Sold (MLS) $33,000 MIBOR as Distributed by MLS Grid
• 2017-08-28 Pending — MIBOR as Distributed by MLS Grid
• 2017-08-14 Listed $41,000 MIBOR as Distributed by MLS Grid
• 2010-09-10 Listing Removed — MIBOR as Distributed by MLS Grid
• 2010-03-09 Listed $45,000 MIBOR as Distributed by MLS Grid

Property tax history

+9.0%/yr

Latest (2025): $2,581 · +24.8% YoY. Source: county tax records.