105 W 36th St · Marion, IN 46953

$80,000

2 bd · 1.0 ba · 1,079 sqft · SingleFamily public records · 23 Days on market

Built 1900 3,445 sqft lot Est $103k · 22% 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 +26.4/30.0
• ARV discount +15.0/15.0
• DSCR +9.0/10.0
• 1% rule +6.4/10.0
• 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

Cozy 3 bedroom close to IWU. Master bedroom has 3 closets! Small lot, easy to maintain! Immediate possession on this one!

Key facts

• 3,445 sq ft lot
• Built 1900
• Listed 22 days

Property features AI

Finance

• Other: Property type: Residential; Lot approximately 0.08 acre; GPS-friendly directions available

Exterior

• Security: Smoke detector(s)
• Utilities: Public water; Municipal sewer connected; No solid waste service listed
• Home design: Single-family residence; One level
• Construction: Brick construction; Crawl space foundation
• Exterior features: Storage shed

Interior

• Kitchen: Refrigerator; Range hood
• Bedrooms: 3 bedrooms (all on the main level) — bedroom sizes include 10 x 15, 10 x 15, and 6 x 10
• Bathrooms: 1 full bathroom (main level)
• Heating & cooling: Natural gas heating; Central air conditioning
• Interior features: Attic access; Living room (10 x 15); Dining room (10 x 8)
• Laundry & utility: Dedicated laundry room; Washer; Dryer

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $80k.

Deal economics

• At list price, monthly cash flow is $209 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($909 rent vs $80k).
• Recommended offer: $79k (1.5% below list) — sets the bar for market timing.

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: amenities F, commute F, employment 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.
• Zoned schools: Marion High School (math 12% / reading 47%, grade F, #308 of 369 statewide, top 84%, 1,050 students, 66% FRL) — zoned schools at 66% FRL track the district average.
• Market conditions: 112 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; 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 $553 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 $22k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 23 days — a 2% lower offer ($79k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 11y ago; this cycle's ask has dropped $5k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $12k; list at $80k implies a 567% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $78,800 (1.5% below list)

Questions for the listing agent

1. Built in 1900 — 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. 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?
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: 1.14% ✓
• Cap rate: 9.43%
• Cash-on-cash: 11.22%
• DSCR: 1.50
• GRM: 7.3

CMA / ARV

• ARV (on-the-fly): $102,505
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3706 S Gallatin St	0.18mi	2/1.5	984 (-9%)	1mo	$49,000	$50	74
3609 S Boots St	0.21mi	3/1.0 (+1)	1,012 (-6%)	1mo	$121,000	$120	74
3640 S Adams St	0.33mi	2/1.0	1,156 (+7%)	7mo	$41,000	$35	67
4118 S Landess St	0.54mi	2/1.0	1,024 (-5%)	6mo	$97,000	$95	61
817 E 39th St	0.47mi	3/1.0 (+1)	1,048 (-3%)	9mo	$142,000	$135	61
3748 S Adams St	0.36mi	3/2.0 (+1)	1,040 (-4%)	10mo	$149,900	$144	60
3902 S Meridian St	0.64mi	2/1.0	1,152 (+7%)	1mo	$85,000	$74	58
2809 S Landess St	0.66mi	2/1.0	1,054 (-2%)	9mo	$90,000	$85	58
3639 S Felton St	0.29mi	3/1.0 (+1)	960 (-11%)	9mo	$74,000	$77	56
3804 S Carey St	0.41mi	3/1.0 (+1)	960 (-11%)	5mo	$102,000	$106	54
4104 S Poplar St	0.59mi	2/1.0	1,200 (+11%)	4mo	$48,900	$41	50
2906 S Hamaker St	0.60mi	3/1.0 (+1)	1,008 (-7%)	8mo	$110,000	$109	50

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: 0.4%
• Equity multiple: 1.02×
• Total profit: $359
• Equity at exit: $11,928

10-year hold

• IRR: 10.1%
• Equity multiple: 1.78×
• Total profit: $17,430
• Equity at exit: $6,917

Cash invested: $22,400 (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: 7.3×

Monthly cashflow live

• Estimated rent: $909 medium
• Mortgage (P&I): −$420
• Tax from tax record: −$56 /mo · $668/yr
• Insurance: −$33
• HOA: −$0
• Vacancy / Maint / Mgmt: −$191
• Net cashflow: $209

Break-even live

Break-even rent $644

Max offer price $80,000

Occupancy floor 72%

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: $20,000
• Closing costs: $2,400
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2516 S Washington St Unit 1 Marion, IN	1.0	1.0	800	$675	$0.84	43d	1	0.84mi
703 E 28th St Marion, IN	2.0	1.0	1085	$1,200	$1.11	43d	1	0.91mi
5000 Prestwick Sq Marion, IN	2.0–3.0	2.0	884	$915	$1.04	43d	5	1.16mi

Listing history 22 events

1. 2026-06-19
   days on market $80,000 Active 23 DOM
2. 2026-06-18
   days on market $80,000 Active 22 DOM
3. 2026-06-17
   days on market $80,000 Active 21 DOM
4. 2026-06-16
   days on market $80,000 Active 20 DOM
5. 2026-06-15
   days on market $80,000 Active 19 DOM
6. 2026-06-14
   days on market $80,000 Active 17 DOM
7. 2026-06-12
   days on market $80,000 Active 16 DOM
8. 2026-06-09
   days on market $80,000 Active 13 DOM
9. 2026-06-09
   price $80,000 Active 12 DOM
10. 2026-06-08
    days on market $84,900 Active 12 DOM
11. 2026-06-07
    days on market $84,900 Active 11 DOM
12. 2026-06-02
    days on market $84,900 Active 6 DOM
13. 2026-06-01
    days on market $84,900 Active 5 DOM
14. 2026-05-31
    days on market $84,900 Active 4 DOM
15. 2026-05-30
    days on market $84,900 Active 3 DOM
16. 2026-05-27
    listed $84,900 Active
17. 2025-02-22
    historical $949
18. 2025-02-14
    price $949
19. 2025-01-10
    price $999
20. 2024-11-08
    listed $1,099
21. 2015-12-03
    soldstatus $12,000 124-char remark

    Show marketing remark (124 chars)

    Cozy 3 bedroom close to IWU. Master bedroom has 3 closets! Small lot, easy to maintain! Immediate possession on this one!

22. 2015-05-11
    listed $14,900 124-char remark

    Show marketing remark (124 chars)

    Cozy 3 bedroom close to IWU. Master bedroom has 3 closets! Small lot, easy to maintain! Immediate possession on this one!

ⓘ 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: $668 · $56/mo
• Projected year-2 tax: $674 · $56/mo
• Expected delta: +$6/yr ($0/mo · 0.9%)

ⓘ 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: $10,905
• − Mortgage interest: −$4,481
• − Property taxes: −$668
• − Insurance: −$400
• − Repairs & maintenance: −$872
• − Management: −$872
• − Depreciation: −$2,327
• Taxable income: $1,284
• Est. tax owed @ 24.0%: −$308
• After-tax cash flow: $2,205/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

+469.8% since first listed

7 events — show timeline

• 2026-05-27 Listed $84,900 MIBOR as Distributed by MLS Grid
• 2025-02-22 Rental Removed $949 APPFOLIO
• 2025-02-14 Price Changed $949 APPFOLIO
• 2025-01-10 Price Changed $999 APPFOLIO
• 2024-11-08 Listed for Rent $1,099 APPFOLIO
• 2015-12-03 Sold (MLS) $12,000 IRMLS
• 2015-05-11 Listed $14,900 IRMLS

Property tax history

+6.7%/yr

Latest (2025): $668 · +8.8% YoY. Source: county tax records.