3532 Harvest Ave · Indianapolis city (balance), IN 46226

$99,900

2 bd · 1.0 ba · 735 sqft · SingleFamily public records · 185 Days on market

Built 1963 6,970 sqft lot $136/sqft · 43% above area Est $139k · 28% under

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Why this score? — see what drove the D 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).

• ARV discount +15.0/15.0
• Cash flow +8.6/30.0
• 1% rule +5.8/10.0
• Rent growth +4.2/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• DSCR +2.4/10.0
• Schools +1.4/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcoming, single-level home boasting fresh paint, new carpeting, and convenient location with easy access to local freeways for smoothers commutes! From the covered front porch, ideal for morning coffee, to the bright living space, this home was designed with comfort in mind. The basement and attached garage offer great storage potential, especially for large and seasonal items. Relax in the fenced backyard - providing plenty of room for outdoor play and entertaining. Neutral finishes throughout create an ideal blank canvas just waiting for your personal touch. Your search ends here - Inquire today before it's gone!

Key facts

• Covered front porch
• Attached garage
• Single-level home

Tags

• SINGLE-LEVEL HOME
• COVERED FRONT PORCH
• FENCED BACKYARD
• ATTACHED GARAGE
• GREAT STORAGE POTENTIAL

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $100k.

Deal economics

• At list price, monthly cash flow is $-85 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $90k (9.7% below list).
• Meets the 1% rule at list price ($1k rent vs $100k).
• Recommended offer: $88k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads: area grade D — 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 fast (+6.8%/yr); 151 active listings in the ZIP; 3 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 $691 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.

Negotiation context

• It's been on market 185 days — a 12% lower offer ($88k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 25y ago; this cycle's ask has dropped $30k (23%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: property tax is 4.5% of price.

Recommended offer $87,912 (12.0% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 185 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
3. Built in 1963 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
8. 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.
9. 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.
10. 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: 1.08% ✓
• Cap rate: 5.27%
• Cash-on-cash: -3.66%
• DSCR: 0.84
• GRM: 7.7

CMA / ARV

• ARV (median comp): $139,266
• List price: $99,900
• Delta: -28.27%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
8248 E 41st St	0.74mi	3/1.0 (+1)	720 (-2%)	20mo	$120,000	$167	41

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: -16.6%
• Equity multiple: 0.39×
• Total profit: $-17,191
• Equity at exit: $14,895

10-year hold

• IRR: -1.0%
• Equity multiple: 0.91×
• Total profit: $-2,399
• Equity at exit: $8,638

Cash invested: $27,972 (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: 7.7×

Monthly cashflow live

• Estimated rent: $1,084 medium
• Mortgage (P&I): −$524
• Tax from tax record: −$376 /mo · $4,511/yr
• Insurance: −$42
• HOA: −$0
• Vacancy / Maint / Mgmt: −$228
• Net cashflow: $-85

Break-even live

Break-even rent $1,192

Max offer price $90,220

Occupancy floor —

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: $24,975
• Closing costs: $2,997
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
7975 Red Mill Dr Indianapolis, IN	2.0	1.0	576	$975	$1.69	44d	1	0.59mi
9060 E 39th Pl Indianapolis, IN	1.0–2.0	1.0–1.5	820	$1,040	$1.27	24d	1	0.97mi
7171 Twin Oaks Dr Indianapolis, IN	3.0	1.0–1.5	801	$1,199	$1.50	24d	9	1.12mi

Listing history 27 events

1. 2026-06-18
   days on market $99,900 Active 185 DOM
2. 2026-06-17
   days on market $99,900 Active 184 DOM
3. 2026-06-16
   days on market $99,900 Active 183 DOM
4. 2026-06-15
   days on market $99,900 Active 182 DOM
5. 2026-06-13
   days on market $99,900 Active 180 DOM
6. 2026-06-13
   days on market $99,900 Active 179 DOM
7. 2026-06-09
   days on market $99,900 Active 176 DOM
8. 2026-06-08
   days on market $99,900 Active 175 DOM
9. 2026-06-07
   days on market $99,900 Active 174 DOM
10. 2026-06-03
    days on market $99,900 Active 170 DOM
11. 2026-06-02
    days on market $99,900 Active 169 DOM
12. 2026-06-01
    days on market $99,900 Active 168 DOM
13. 2026-05-31
    days on market $99,900 Active 167 DOM
14. 2026-04-06
    status Active 624-char remark

    Show marketing remark (624 chars)

    Welcoming, single-level home boasting fresh paint, new carpeting, and convenient location with easy access to local freeways for smoothers commutes! From the covered front porch, ideal for morning coffee, to the bright living space, this home was designed with comfort in mind. The basement and attached garage offer great storage potential, especially for large and seasonal items. Relax in the fenced backyard - providing plenty of room for outdoor play and entertaining. Neutral finishes throughout create an ideal blank canvas just waiting for your personal touch. Your search ends here - Inquire today before it's gone!

15. 2026-02-17
    status Pending 624-char remark

    Show marketing remark (624 chars)

    Welcoming, single-level home boasting fresh paint, new carpeting, and convenient location with easy access to local freeways for smoothers commutes! From the covered front porch, ideal for morning coffee, to the bright living space, this home was designed with comfort in mind. The basement and attached garage offer great storage potential, especially for large and seasonal items. Relax in the fenced backyard - providing plenty of room for outdoor play and entertaining. Neutral finishes throughout create an ideal blank canvas just waiting for your personal touch. Your search ends here - Inquire today before it's gone!

16. 2026-01-23
    price $124,900 624-char remark

    Show marketing remark (624 chars)

    Welcoming, single-level home boasting fresh paint, new carpeting, and convenient location with easy access to local freeways for smoothers commutes! From the covered front porch, ideal for morning coffee, to the bright living space, this home was designed with comfort in mind. The basement and attached garage offer great storage potential, especially for large and seasonal items. Relax in the fenced backyard - providing plenty of room for outdoor play and entertaining. Neutral finishes throughout create an ideal blank canvas just waiting for your personal touch. Your search ends here - Inquire today before it's gone!

17. 2025-10-29
    listed $129,900 Active 624-char remark

    Show marketing remark (624 chars)

    Welcoming, single-level home boasting fresh paint, new carpeting, and convenient location with easy access to local freeways for smoothers commutes! From the covered front porch, ideal for morning coffee, to the bright living space, this home was designed with comfort in mind. The basement and attached garage offer great storage potential, especially for large and seasonal items. Relax in the fenced backyard - providing plenty of room for outdoor play and entertaining. Neutral finishes throughout create an ideal blank canvas just waiting for your personal touch. Your search ends here - Inquire today before it's gone!

18. 2022-07-21
    soldstatus $115,000
19. 2022-07-08
    soldstatus $115,000 Closed 516-char remark

    Show marketing remark (516 chars)

    Great property for 1st time homebuyer or investor looking to add to your portfolio, this is a turn-key 2 bed 1 bath home. Freshly painted on the inside and out, new flooring throughout and porch has been redone as well. Enjoy the large, fenced back yard for summer fun. There is a nice covered area in the back yard that would be great for outdoor dining area. Main sewer line was replaced last year and roof was replaced in 2017. Properties in this area are renting for approximately 900-1100 for a two bedroom

20. 2022-06-04
    status Pending 516-char remark

    Show marketing remark (516 chars)

    Great property for 1st time homebuyer or investor looking to add to your portfolio, this is a turn-key 2 bed 1 bath home. Freshly painted on the inside and out, new flooring throughout and porch has been redone as well. Enjoy the large, fenced back yard for summer fun. There is a nice covered area in the back yard that would be great for outdoor dining area. Main sewer line was replaced last year and roof was replaced in 2017. Properties in this area are renting for approximately 900-1100 for a two bedroom

21. 2022-06-01
    listed $119,900 Active 516-char remark

    Show marketing remark (516 chars)

    Great property for 1st time homebuyer or investor looking to add to your portfolio, this is a turn-key 2 bed 1 bath home. Freshly painted on the inside and out, new flooring throughout and porch has been redone as well. Enjoy the large, fenced back yard for summer fun. There is a nice covered area in the back yard that would be great for outdoor dining area. Main sewer line was replaced last year and roof was replaced in 2017. Properties in this area are renting for approximately 900-1100 for a two bedroom

22. 2006-09-29
    soldstatus $42,000
23. 2006-08-18
    listed $44,900
24. 2005-10-03
    historical
25. 2004-10-04
    listed $83,300
26. 2002-02-15
    historical
27. 2001-08-17
    listed $80,500

ⓘ 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: $4,511 · $376/mo
• Projected year-2 tax: $4,511 · $376/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 100% 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: $13,006
• − Mortgage interest: −$5,596
• − Property taxes: −$4,511
• − Insurance: −$500
• − Repairs & maintenance: −$1,040
• − Management: −$1,040
• − Depreciation: −$2,906
• Taxable loss: −$2,588
• Est. tax savings @ 24.0%: +$621
• After-tax cash flow: $-402/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

+55.2% since first listed

14 events — show timeline

• 2026-04-06 Relisted — MIBOR as Distributed by MLS Grid
• 2026-02-17 Pending — MIBOR as Distributed by MLS Grid
• 2026-01-23 Price Changed $124,900 MIBOR as Distributed by MLS Grid
• 2025-10-29 Listed $129,900 MIBOR as Distributed by MLS Grid
• 2022-07-21 Sold (Public Records) $115,000 Public Records
• 2022-07-08 Sold (MLS) $115,000 MIBOR as Distributed by MLS Grid
• 2022-06-04 Pending — MIBOR as Distributed by MLS Grid
• 2022-06-01 Listed $119,900 MIBOR as Distributed by MLS Grid
• 2006-09-29 Sold (MLS) $42,000 MIBOR as Distributed by MLS Grid
• 2006-08-18 Listed $44,900 MIBOR as Distributed by MLS Grid
• 2005-10-03 Listing Removed — MIBOR as Distributed by MLS Grid
• 2004-10-04 Listed $83,300 MIBOR as Distributed by MLS Grid
• 2002-02-15 Listing Removed — MIBOR as Distributed by MLS Grid
• 2001-08-17 Listed $80,500 MIBOR as Distributed by MLS Grid

Property tax history

+23.3%/yr

Latest (2025): $4,511 · +41.8% YoY. Source: county tax records.