1124 E Murry St · Indianapolis city (balance), IN 46227

$93,000

2 bd · 1.0 ba · 840 sqft · SingleFamily public records

Built 1951 0.26 ac lot Est $126k · 26% 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 +28.3/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +7.6/10.0
• Rent growth +3.1/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.4/10.0
• Appreciation +0.0/10.0

Listing remarks

list & pend

Key facts

• 0.26 acre lot
• 2 garage spots
• Built 1951

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $93k.

Deal economics

• At list price, monthly cash flow is $297 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $93k).
• Cap rate 10.1% 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 (+2.5%/yr); 245 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 21d 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 $643 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.
• At projected returns (-3.0% appreciation + 2.5% rent growth), your $26k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• Only 0 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1951 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $93,000

Questions for the listing agent

1. Built in 1951 — 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: 1.26% ✓
• Cap rate: 10.12%
• Cash-on-cash: 13.68%
• DSCR: 1.61
• GRM: 6.6

CMA / ARV

• ARV (on-the-fly): $126,000
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1124 E Murry St	0.00mi	3/1.0 (+1)	840 (0%)	1mo	$93,000	$111	94
1120 Bacon St	0.18mi	2/1.0	832 (-1%)	2mo	$103,950	$125	89
645 Martin St	0.44mi	2/1.0	772 (-8%)	8mo	$78,000	$101	59
711 E Perry St	0.41mi	2/1.0	740 (-12%)	4mo	$155,000	$209	57
1018 Albany St	0.37mi	2/1.5	720 (-14%)	1mo	$185,000	$257	56
747 Sparrow Ave	0.39mi	2/1.0	936 (+11%)	9mo	$140,000	$150	56
2876 Tindall St	0.62mi	2/1.0	912 (+9%)	1mo	$75,000	$82	56
3033 Asbury St	0.56mi	3/1.0 (+1)	912 (+9%)	0mo	$139,900	$153	54
2822 Tindall St	0.70mi	3/1.0 (+1)	864 (+3%)	5mo	$185,000	$214	54
1620 Norton Ave	0.53mi	3/1.0 (+1)	928 (+10%)	2mo	$119,900	$129	51
3057 Dawson St	0.68mi	3/1.0 (+1)	936 (+11%)	1mo	$185,000	$198	43
2908 Dawson St	0.74mi	3/1.0 (+1)	912 (+9%)	9mo	$130,000	$143	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 · 2.46% rent growth · sell at horizon

5-year hold

• IRR: 3.2%
• Equity multiple: 1.12×
• Total profit: $3,213
• Equity at exit: $13,867

10-year hold

• IRR: 12.3%
• Equity multiple: 1.95×
• Total profit: $24,610
• Equity at exit: $8,041

Cash invested: $26,040 (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 46227

• Rents YoY: 2.5%
• Active inventory: 245
• Price-to-rent: 6.6×

Monthly cashflow live

• Estimated rent: $1,169 high
• Mortgage (P&I): −$488
• Tax from tax record: −$100 /mo · $1,201/yr
• Insurance: −$39
• HOA: −$0
• Vacancy / Maint / Mgmt: −$245
• Net cashflow: $297

Break-even live

Break-even rent $793

Max offer price $93,000

Occupancy floor 70%

Sensitivity live

Price	-10% $349	-5% $323	+0% $297	+5% $271	+10% $244
Rent	-10% $205	-5% $251	+0% $297	+5% $343	+10% $389
Rate	-1.0pp $344	-0.5pp $321	base $297	+0.5pp $273	+1.0pp $248

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: $23,250
• Closing costs: $2,790
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3312 Olive St Indianapolis, IN	3.0	2.0	1000	$1,395	$1.40	24d	1	0.09mi
3311 Linden St Indianapolis, IN	3.0	1.0	1056	$1,150	$1.09	44d	1	0.12mi
3334 Laurel St Indianapolis, IN	3.0	1.0	1068	$1,200	$1.12	21d	1	0.18mi
2948 Shelby St Unit D Indianapolis, IN	2.0	1.0	750	$1,025	$1.37	44d	1	0.30mi
1320 1/2 Norton Ave Indianapolis, IN	2.0	1.0	785	$920	$1.17	22d	1	0.39mi
1144 McDougal St Indianapolis, IN	3.0	1.0	876	$1,500	$1.71	22d	1	0.51mi
3146 Asbury St Indianapolis, IN	2.0	1.0	728	$850	$1.17	8d	1	0.53mi
1620 Norton Ave Indianapolis, IN	3.0	1.0	928	$1,395	$1.50	18d	1	0.55mi
3765 S State Ave Indianapolis, IN	2.0	1.0	700	$995	$1.42	24d	1	0.67mi
2830 S East St Indianapolis, IN	2.0	1.0	656	$1,200	$1.83	44d	1	0.72mi
1549 Nelson Ave Indianapolis, IN	3.0	1.0	950	$1,380	$1.45	44d	1	0.72mi
360 Sandra Ln Unit 319-D126 Indianapolis, IN	2.0	1.0	621	$960	$1.55	3d	1	0.74mi
360 Sandra Ln Unit 109-013 Indianapolis, IN	2.0	1.0	621	$1,029	$1.66	5d	1	0.74mi
360 Sandra Ln Unit 115-044 Indianapolis, IN	2.0	1.0	621	$999	$1.61	4d	1	0.74mi
360 Sandra Ln Unit 110-064 Indianapolis, IN	2.0	1.0	621	$961	$1.55	3d	1	0.74mi
360 Sandra Ln Unit 110-062 Indianapolis, IN	2.0	1.0	621	$949	$1.53	8d	1	0.74mi
360 Sandra Ln Unit 314-D59 Indianapolis, IN	2.0	1.0	621	$1,011	$1.63	4d	1	0.74mi
360 Sandra Ln Indianapolis, IN	1.0–2.0	1.0	562	$1,494	$2.66	12d	9	0.74mi
2760 S East St Indianapolis, IN	2.0–3.0	2.0	1072	$895	$0.83	4d	3	0.76mi
2555 Shelby St Unit 2559 Indianapolis, IN	1.0	1.0	717	$1,250	$1.74	44d	1	0.79mi
3714 Bartlett Ave Indianapolis, IN	1.0	1.0	576	$969	$1.68	5d	4	0.86mi
2525 Shelby St Unit 1 Indianapolis, IN	1.0	1.0	600	$865	$1.44	3d	1	0.87mi
2525 Shelby St Unit 4 Indianapolis, IN	1.0	1.0	600	$775	$1.29	24d	1	0.87mi
1051 E Edwards Ave Indianapolis, IN	2.0	1.0	896	$1,150	$1.28	44d	1	0.94mi
265 E Southern Ave Indianapolis, IN	1.0–2.0	1.0	800	$1,150	$1.44	3d	2	0.97mi
1637 Hoefgen St Indianapolis, IN	2.0	1.0	780	$1,000	$1.28	44d	1	0.99mi
2633 S Randolph St Unit b Indianapolis, IN	2.0	1.0	900	$995	$1.11	24d	1	1.01mi
2633 S Randolph St Indianapolis, IN	2.0	1.0	900	$995	$1.11	11d	1	1.01mi
2904 S Pennsylvania St Indianapolis, IN	1.0	1.0	750	$725	$0.97	24d	2	1.02mi
920 E Markwood Ave Indianapolis, IN	1.0–2.0	1.0	838	$949	$1.13	8d	2	1.04mi
4020 Hanna Village Dr Indianapolis, IN	1.0–3.0	1.0–2.0	886	$1,299	$1.47	3d	2	1.06mi
3206 S Temple Ave Indianapolis, IN	2.0	1.0	784	$1,080	$1.38	24d	1	1.09mi
272 Hoefgen St Unit 1336809P Indianapolis, IN	2.0	1.0	592	$2,055	$3.47	2d	1	1.10mi
2469 Dawson St Indianapolis, IN	2.0	1.0	700	$949	$1.36	4d	4	1.12mi
2859 S Meridian St Indianapolis, IN	1.0–2.0	1.0	771	$906	$1.17	24d	2	1.13mi
2859 S Meridian St Indianapolis, IN	1.0–2.0	1.0	771	$906	$1.17	44d	2	1.13mi
4100 Continental Ct Indianapolis, IN	1.0–2.0	1.0–1.5	917	$1,249	$1.36	2d	7	1.16mi
215 W Troy Ave Indianapolis, IN	2.0	1.0	600	$1,095	$1.82	22d	1	1.21mi
1409 E Tabor St Indianapolis, IN	1.0	1.0	528	$775	$1.47	24d	1	1.23mi
1604 E Kelly St Indianapolis, IN	2.0	1.0	800	$1,025	$1.28	11d	1	1.24mi

Listing history 2 events

1. 2026-05-21
   historical
2. 2026-05-19
   listed $93,000

ⓘ 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: $1,201 · $100/mo
• Projected year-2 tax: $1,201 · $100/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 4/10 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: $14,026
• − Mortgage interest: −$5,209
• − Property taxes: −$1,201
• − Insurance: −$465
• − Repairs & maintenance: −$1,122
• − Management: −$1,122
• − Depreciation: −$2,705
• Taxable income: $2,201
• Est. tax owed @ 24.0%: −$528
• After-tax cash flow: $3,034/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): 57,587
• Household income: $53,629
• Rent vs Own: 55.1% rent · 44.9% own
• Severe rent burden: 3583.0

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 0.59)
• Race & ethnicity: White 61% Asian 12% Black 11% Hispanic / Latino 10% Two or more races 8%
• Hispanic origin (detail): Mexican 8%
• Common ancestry: Italian 2% Slovak 2% Lithuanian 1%
• Foreign-born: 17% · Philippines, Canada, Vietnam
• Languages at home: 79% English-only · Other Asian/Pacific 9% Spanish 7% 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: ▼ -260.49%
• Current HPI: 276.8271
• Rent YoY: ▲ 2.46%
• 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

2 events — show timeline

• 2026-05-21 Listing Removed — MIBOR as Distributed by MLS Grid
• 2026-05-19 Listed $93,000 MIBOR as Distributed by MLS Grid

Property tax history

+13.6%/yr

Latest (2025): $1,201 · +11.2% YoY. Source: county tax records.