1811 N Dexter St · Indianapolis city (balance), IN 46202

$89,000

2 bd · 1.0 ba · 1,374 sqft · SingleFamily public records · 41 Days on market

Built 1930 5,184 sqft lot $65/sqft · 34% below area Est $176k · 49% 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 +30.0/30.0
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Rent growth +2.4/5.0
• Schools +1.4/10.0
• Appreciation +0.0/10.0

Listing remarks

Opportunity awaits at 1811 Dexter! This 2 bedroom, 1 bathroom home offers 1,122 square feet with classic features including a large covered front porch, welcoming foyer, formal dining room, and spacious back yard. Formerly used as a rental property, the home is ready for its next chapter and priced accordingly for the updates and repairs needed. With solid living space and plenty of character, this property could make a great investment opportunity, renovation project, or affordable option for a buyer willing to put in some sweat equity. Convenient layout, generous room sizes, and outdoor space provide a strong foundation to build on. Bring your vision and unlock the potential!

Key facts

• Formal dining room
• Strong foundation
• Welcoming foyer

Tags

• LARGE COVERED FRONT PORCH
• WELCOMING FOYER
• FORMAL DINING ROOM
• SPACIOUS BACK YARD
• STRONG FOUNDATION

Property features AI

Exterior

• Parking: No parking provided
• Utilities: Public water; Municipal sewer; Solid waste service available
• Home design: Single-family residence; Two levels
• Construction: Aluminum siding; Block foundation
• Exterior features: Covered porch/patio; Lot under 1/4 acre

Interior

• Kitchen: Electric oven; Refrigerator; Eat-in kitchen layout
• Bedrooms: Two bedrooms on the upper level
• Bathrooms: One full bathroom (upper level)
• Heating & cooling: Forced air heating (natural gas); No central air
• Interior features: Attic access; Eat-in kitchen; Smoke alarm
• Laundry & utility: Main level laundry; Gas water heater

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $89k.

Deal economics

• At list price, monthly cash flow is $396 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $89k).
• Recommended offer: $86k (3.0% below list) — sets the bar for market timing.
• Cap rate 11.6% 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.
• Zoned schools: Center For Inquiry School 27 (math 25% / reading 29%, grade F, #737 of 994 statewide, top 76%, 525 students, 51% FRL); H L Harshman Middle School (math 3% / reading 16%, grade F, #316 of 330 statewide, top 96%, 549 students, 84% FRL).
• Market conditions: Rents soft (-0.4%/yr); 267 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 25d 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 $615 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 + 0.0% rent growth), your $25k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 41 days — a 3% lower offer ($86k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 4y 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: property tax is 3.1% of price; built in 1930 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $86,330 (3.0% below list)

Questions for the listing agent

1. It's been on market 41 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 1930 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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.
6. 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.
7. 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: 1.61% ✓
• Cap rate: 11.64%
• Cash-on-cash: 19.09%
• DSCR: 1.85
• GRM: 5.2

CMA / ARV

• ARV (median comp): $176,034
• List price: $89,000
• Delta: -49.44%
• 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
1824 Milburn St	0.36mi	2/1.0	1,368 (-0%)	14mo	$175,000	$128	71
1877 Mansfield St	0.21mi	3/1.5 (+1)	1,482 (+8%)	1mo	$179,900	$121	69
1351 W 21st St	0.26mi	2/2.0	1,432 (+4%)	16mo	$64,000	$45	63
2035 Koehne St	0.28mi	2/1.0	1,261 (-8%)	14mo	$64,000	$51	62
2170 Sugar Grove Ave	0.40mi	2/1.0	1,536 (+12%)	3mo	$47,000	$31	59
1510 W 22nd St	0.46mi	2/1.0	1,270 (-8%)	13mo	$164,000	$129	55
1258 W 23rd St	0.56mi	3/2.0 (+1)	1,375 (+0%)	19mo	$170,000	$124	49
2141 Gent Ave	0.39mi	3/2.0 (+1)	1,250 (-9%)	19mo	$269,500	$216	42
1343 Edgemont Ave	0.69mi	3/1.0 (+1)	1,545 (+12%)	3mo	$110,000	$71	39
1525 W 22nd St	0.44mi	3/2.0 (+1)	1,556 (+13%)	17mo	$170,000	$109	34
1432 Edgemont Ave	0.71mi	2/1.0	1,233 (-10%)	23mo	$70,000	$57	31
2313 White Ave	0.59mi	3/2.0 (+1)	1,237 (-10%)	22mo	$170,000	$137	29

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 · 0.0% rent growth · sell at horizon

5-year hold

• IRR: 7.2%
• Equity multiple: 1.27×
• Total profit: $6,714
• Equity at exit: $13,270

10-year hold

• IRR: 13.3%
• Equity multiple: 1.90×
• Total profit: $22,493
• Equity at exit: $7,695

Cash invested: $24,920 (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 46202

• Home prices YoY: -26.2%
• Rents YoY: -0.4%
• Active inventory: 267
• Price-to-rent: 5.2×

Monthly cashflow live

• Estimated rent: $1,435 high
• Mortgage (P&I): −$467
• Tax from tax record: −$234 /mo · $2,803/yr
• Insurance: −$37
• HOA: −$0
• Vacancy / Maint / Mgmt: −$301
• Net cashflow: $396

Break-even live

Break-even rent $933

Max offer price $89,000

Occupancy floor 67%

Sensitivity live

Price	-10% $447	-5% $422	+0% $396	+5% $371	+10% $346
Rent	-10% $283	-5% $340	+0% $396	+5% $453	+10% $510
Rate	-1.0pp $441	-0.5pp $419	base $396	+0.5pp $373	+1.0pp $350

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: $22,250
• Closing costs: $2,670
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1228 W 18th St Indianapolis, IN	2.0	1.0	1050	$1,200	$1.14	45d	1	0.10mi
1920 Sugar Grove Ave Indianapolis, IN	3.0	1.5	1378	$1,175	$0.85	4d	1	0.12mi
1135 W 21st St Indianapolis, IN	3.0	2.0	1296	$1,495	$1.15	25d	1	0.30mi
1133 W 21st St Indianapolis, IN	3.0	2.0	1296	$1,495	$1.15	25d	1	0.30mi
1037 W 18th St Indianapolis, IN	2.0	2.5	1685	$2,500	$1.48	19d	1	0.37mi
1410 Breedlove Ln Indianapolis, IN	2.0	1.0–2.0	947	$2,557	$2.70	0d	61	0.39mi
1449 Montcalm St Indianapolis, IN	3.0	1.0	1300	$1,900	$1.46	45d	1	0.44mi
1415 W Pruitt St Indianapolis, IN	3.0	1.0	1001	$1,249	$1.25	25d	1	0.45mi
1367 W Pruitt St Indianapolis, IN	3.0	1.0	1088	$1,450	$1.33	45d	1	0.45mi
2248 N Harding St Indianapolis, IN	2.0	1.0	1100	$899	$0.82	25d	1	0.49mi
1201 Indiana Ave Indianapolis, IN	1.0–3.0	1.0–3.5	967	$1,770	$1.83	0d	34	0.58mi
1150 N White River Pkwy West Dr Indianapolis, IN	1.0–2.0	1.0	722	$1,224	$1.69	3d	9	0.69mi
1244 Edgemont Ave Indianapolis, IN	2.0	1.0	1092	$1,275	$1.17	45d	1	0.69mi
908 Burdsal Pkwy Marion, IN	2.0	1.0	936	$1,300	$1.39	25d	1	0.83mi
906 Burdsal Pkwy Indianapolis, IN	2.0	1.0	936	$1,295	$1.38	25d	1	0.83mi
1441 W Lynn Dr Indianapolis, IN	3.0	2.0	967	$1,550	$1.60	45d	1	0.92mi
930 W 10th St Indianapolis, IN	1.0–4.0	1.0–4.0	874	$2,371	$2.71	5d	1	0.92mi
955 N Traub Ave Indianapolis, IN	3.0	2.0	1300	$1,449	$1.11	45d	1	0.95mi
2106 Cold Spring Rd Indianapolis, IN	2.0	1.0–1.5	940	$1,294	$1.38	0d	3	0.98mi
2235 Doctor Martin Luther King Junior St Indianapolis, IN	3.0	1.5	948	$1,700	$1.79	45d	1	1.01mi
1023 N Pershing Ave Indianapolis, IN	3.0	1.5	1182	$1,350	$1.14	25d	1	1.02mi
1401 Doctor Martin Luther King Junior St Indianapolis, IN	1.0–2.0	1.0	982	$1,875	$1.91	15d	1	1.04mi
1226 Doctor Martin Luther King Junior St Indianapolis, IN	1.0–3.0	1.0–3.5	1067	$1,828	$1.71	0d	10	1.06mi
1227 W 29th St Indianapolis, IN	3.0	1.5	1056	$1,250	$1.18	25d	1	1.12mi
1118 King Ave Indianapolis, IN	3.0	1.0	1560	$1,299	$0.83	18d	1	1.15mi
936 Camp St Indianapolis, IN	3.0	2.0	1334	$2,800	$2.10	5d	1	1.15mi
1155 N Holmes Ave Indianapolis, IN	3.0	1.0	952	$2,800	$2.94	4d	1	1.15mi
928 Camp St Indianapolis, IN	2.0	1.5	1240	$2,000	$1.61	25d	1	1.16mi
2602 Mansion Dr Indianapolis, IN	2.0–3.0	2.0	1850	$1,379	$0.75	9d	6	1.21mi
525 N Belmont Ave Indianapolis, IN	3.0	1.0	912	$1,225	$1.34	25d	1	1.28mi
824 W 29th St Indianapolis, IN	3.0	2.0	1200	$1,595	$1.33	45d	1	1.28mi
826 W 29th St Indianapolis, IN	3.0	2.0	1200	$1,595	$1.33	45d	1	1.30mi
2011 N Kessler Boulevard Dr Indianapolis, IN	3.0	1.0	888	$1,375	$1.55	25d	1	1.32mi
3057 Armory Dr Indianapolis, IN	2.0	1.5	1674	$1,495	$0.89	9d	1	1.34mi
3057 Armory Dr Indianapolis, IN	2.0	2.0	1674	$1,695	$1.01	45d	1	1.34mi
1911 Wilcox St Indianapolis, IN	2.0	1.0	896	$1,150	$1.28	45d	1	1.35mi
560 Udell St Indianapolis, IN	3.0	1.5	1176	$1,190	$1.01	25d	1	1.37mi
1054 W 31st St Unit A Indianapolis, IN	2.0	1.0	1200	$1,500	$1.25	45d	1	1.37mi
516 W 28th St Indianapolis, IN	2.0	1.0	1005	$1,100	$1.09	25d	1	1.37mi
2318 N Capitol Ave Indianapolis, IN	3.0	1.0	1440	$1,050	$0.73	45d	1	1.40mi

Listing history 20 events

1. 2026-06-21
   days on market $89,000 Active 41 DOM
2. 2026-06-18
   days on market $89,000 Active 38 DOM
3. 2026-06-17
   days on market $89,000 Active 37 DOM
4. 2026-06-16
   days on market $89,000 Active 36 DOM
5. 2026-06-15
   days on market $89,000 Active 35 DOM
6. 2026-06-13
   days on market $89,000 Active 33 DOM
7. 2026-06-13
   days on market $89,000 Active 32 DOM
8. 2026-06-09
   days on market $89,000 Active 29 DOM
9. 2026-06-08
   days on market $89,000 Active 28 DOM
10. 2026-06-07
    days on market $89,000 Active 27 DOM
11. 2026-06-03
    days on market $89,000 Active 23 DOM
12. 2026-06-02
    days on market $89,000 Active 22 DOM
13. 2026-06-01
    days on market $89,000 Active 21 DOM
14. 2026-05-31
    days on market $89,000 Active 20 DOM
15. 2026-05-11
    listed $89,000 Active 687-char remark
16. 2022-12-23
    historical
17. 2022-12-19
    status Active
18. 2022-12-19
    historical
19. 2022-10-14
    status Pending
20. 2022-09-29
    listed $89,000 Active

ⓘ 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: $2,803 · $234/mo
• Projected year-2 tax: $2,803 · $234/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 ≥102°F today · 19 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 0% 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: $17,222
• − Mortgage interest: −$4,985
• − Property taxes: −$2,803
• − Insurance: −$445
• − Repairs & maintenance: −$1,378
• − Management: −$1,378
• − Depreciation: −$2,589
• Taxable income: $3,644
• Est. tax owed @ 24.0%: −$874
• After-tax cash flow: $3,882/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): 20,180
• Household income: $63,506
• Rent vs Own: 70.6% rent · 29.4% own
• Severe rent burden: 1829.0

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 0.57)
• Race & ethnicity: White 62% Black 20% Hispanic / Latino 8% Asian 6% Two or more races 5%
• Hispanic origin (detail): Mexican 5%
• Common ancestry: Italian 4% Romanian 3% Slovak 3%
• Foreign-born: 11% · Canada, China
• Languages at home: 86% English-only · Spanish 6% Other Indo-European 3% Arabic 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: ▼ -136.75%
• Current HPI: 385.5518
• Rent YoY: ▼ -0.37%
• 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

+0.0% since first listed

6 events — show timeline

• 2026-05-11 Listed $89,000 MIBOR as Distributed by MLS Grid
• 2022-12-23 Rental Removed — RENT.
• 2022-12-19 Relisted — MIBOR as Distributed by MLS Grid
• 2022-12-19 Listing Removed — MIBOR as Distributed by MLS Grid
• 2022-10-14 Pending — MIBOR as Distributed by MLS Grid
• 2022-09-29 Listed $89,000 MIBOR as Distributed by MLS Grid

Property tax history

+12.9%/yr

Latest (2025): $2,803 · +23.1% YoY. Source: county tax records.