249 N Beville Ave · Indianapolis city (balance), IN 46201

$204,000

3 bd · 3.0 ba · 1,508 sqft · SingleFamily public records · 56 Days on market

Built 1955 4,792 sqft lot Est $222k · 8% under ↓ 5% since listing

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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).

• Cash flow +16.8/30.0
• ARV discount +11.1/15.0
• DSCR +5.2/10.0
• Rent growth +4.3/5.0
• 1% rule +3.4/10.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.4/10.0
• Appreciation +0.0/10.0

Listing remarks

Step inside this delightful 3 bed, 3 bath updated home located in the desirable Near East Side close to downtown! This carefully rehabbed home offers a perfect mix of charm and modern living. The spacious open plan effortlessly connects the living area to the renovated kitchen featuring beautiful quartz countertops, stainless steel appliances, new cabinets, sink and faucets, and generous cabinet space with new cabinets. The main floor features an open plan kitchen, living and dining room that benefits from abundant natural light. The staircase leads to the attic that can be used as an office or bonus room, offering flexible space for your needs. All three bedrooms have new carpet and floori

Key facts

• Quartz countertops
• Renovated kitchen
• New cabinets

Tags

• UPDATED HOME
• RENOVATED KITCHEN
• QUARTZ COUNTERTOPS
• STAINLESS STEEL APPLIANCES
• NEW CABINETS
• ABUNDANT NATURAL LIGHT

Property features AI

Exterior

• Utilities: Public water; Municipal sewer connection; Solid waste service available
• Home design: Single-family residence; One level plus loft
• Construction: Wood siding; Brick foundation
• Exterior features: Lot under 1/4 acre (0.11 acre)

Interior

• Kitchen: Dishwasher; Gas oven; Refrigerator; Exhaust fan; Eat-in kitchen
• Bedrooms: Three bedrooms (all on the main level); Loft on the upper level (22 x 12)
• Bathrooms: Three full bathrooms
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: Attic stairway; High ceilings; Eat-in kitchen; Supplemental storage; Has basement
• Laundry & utility: In-unit laundry (main level, 8 x 6)

What this means for you Summary

Snapshot

• This is a 3-bed/3.0-bath single-family listed at $204k.

Deal economics

• At list price, monthly cash flow is $130 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $170k (16.4% below list).
• Recommended offer: $170k (16.4% below list) — sets the bar for 1% rule.
• Cap rate 7.1% 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 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.
• Zoned schools: Frederick Douglass School 19 (math 9% / reading 13%, grade F, #909 of 994 statewide, top 92%, 444 students, 81% FRL); H L Harshman Middle School (math 3% / reading 16%, grade F, #316 of 330 statewide, top 96%, 549 students, 84% 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 80% FRL track the district average.
• Market conditions: Rents rising fast (+7.3%/yr); 483 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 26d on market — plan ~3-4 weeks tenant-placement turnaround); 40% of comp listings sitting > 30 days — soft ceiling on asking rent; 1,906 units permitted in Marion County in 2024 (621 in 5+ unit buildings).
• This rent runs 42% of the median local income ($49k/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 $1k of loan paydown is wiped out by about $6k 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 56 days — a 3% lower offer ($198k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 2y 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: built in 1955 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $170,455 (16.4% below list)

Questions for the listing agent

1. It's been on market 56 days. Have you received any prior offers? Is the seller open to a 16% concession, seller financing, or rate buy-down credit?
2. Built in 1955 — 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. 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?
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: 0.84% ✗
• Cap rate: 7.06%
• Cash-on-cash: 2.73%
• DSCR: 1.12
• GRM: 10.0

CMA / ARV

• ARV (on-the-fly): $221,676
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
221 N Beville Ave	0.05mi	3/2.5	1,680 (+11%)	3mo	$304,000	$181	74
401 N Temple Ave	0.27mi	3/2.0	1,434 (-5%)	2mo	$255,000	$178	74
505 N Keystone Ave	0.28mi	3/2.0	1,435 (-5%)	4mo	$290,000	$202	72
2626 E North St	0.44mi	3/2.5	1,540 (+2%)	4mo	$280,000	$182	70
435 N Rural St	0.40mi	3/1.0	1,470 (-2%)	2mo	$100,000	$68	68
330 Eastern Ave	0.28mi	3/2.0	1,708 (+13%)	3mo	$170,000	$100	58
248 Eastern Ave	0.26mi	2/1.0 (-1)	1,686 (+12%)	1mo	$107,000	$63	54
252 Eastern Ave	0.26mi	2/1.5 (-1)	1,727 (+14%)	2mo	$180,000	$104	51
815 Tecumseh St	0.54mi	2/1.5 (-1)	1,356 (-10%)	1mo	$225,000	$166	46
319 S Temple Ave	0.63mi	3/2.5	1,313 (-13%)	4mo	$177,500	$135	44
1613 E Ohio St	0.48mi	2/1.0 (-1)	1,324 (-12%)	2mo	$195,000	$147	43
818 N Oakland Ave	0.71mi	3/1.0	1,653 (+10%)	4mo	$128,000	$77	40

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 · 7.31% rent growth · sell at horizon

5-year hold

• IRR: -7.9%
• Equity multiple: 0.70×
• Total profit: $-17,146
• Equity at exit: $30,417

10-year hold

• IRR: 6.0%
• Equity multiple: 1.52×
• Total profit: $29,964
• Equity at exit: $17,638

Cash invested: $57,120 (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 46201

• Home prices YoY: -33.9%
• Rents YoY: 7.3%
• Active inventory: 483
• Price-to-rent: 10.0×

Monthly cashflow live

• Estimated rent: $1,705 high
• Mortgage (P&I): −$1,070
• Tax from tax record: −$62 /mo · $739/yr
• Insurance: −$85
• HOA: −$0
• Vacancy / Maint / Mgmt: −$358
• Net cashflow: $130

Break-even live

Break-even rent $1,540

Max offer price $204,000

Occupancy floor 87%

Sensitivity live

Price	-10% $246	-5% $188	+0% $130	+5% $72	+10% $15
Rent	-10% $-4	-5% $63	+0% $130	+5% $198	+10% $265
Rate	-1.0pp $233	-0.5pp $182	base $130	+0.5pp $77	+1.0pp $24

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: $51,000
• Closing costs: $6,120
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
210 N Keystone Ave Indianapolis, IN	4.0	2.0	2024	$2,200	$1.09	9d	1	0.08mi
47 Keystone Ave Indianapolis, IN	3.0	2.5	1600	$2,500	$1.56	45d	1	0.13mi
43 Keystone Ave Indianapolis, IN	3.0	2.5	1600	$2,291	$1.43	18d	1	0.14mi
41 Keystone Ave Indianapolis, IN	3.0	2.5	1600	$2,500	$1.56	45d	1	0.14mi
228 N Tacoma Ave Indianapolis, IN	3.0	1.0	1200	$1,100	$0.92	12d	1	0.15mi
39 N Tacoma Ave Indianapolis, IN	3.0	1.0	1233	$895	$0.73	45d	1	0.21mi
416 N Hamilton Ave Unit 416-A Indianapolis, IN	3.0	2.0	1350	$1,500	$1.11	45d	1	0.21mi
22 Hendricks Pl Unit 22 Indianapolis, IN	3.0	1.5	1730	$1,600	$0.92	19d	1	0.27mi
238 Eastern Ave Indianapolis, IN	3.0	2.0	1850	$1,900	$1.03	25d	1	0.27mi
409 N Temple Ave Indianapolis, IN	3.0	2.0	2106	$1,650	$0.78	45d	1	0.28mi
44 E Parkview Ave Unit B Indianapolis, IN	3.0	2.0	1297	$1,695	$1.31	45d	1	0.29mi
44 E Parkview Ave Unit A Indianapolis, IN	3.0	2.0	1296	$1,695	$1.31	25d	1	0.29mi
44 Parkview Ave Indianapolis, IN	3.0	2.0	1250	$1,695	$1.36	22d	1	0.29mi
17 E Parkview Ave Unit 19 Indianapolis, IN	3.0	1.0	1530	$1,650	$1.08	45d	1	0.30mi
17 E Parkview Ave Unit 17 Indianapolis, IN	3.0	1.5	1530	$1,650	$1.08	45d	1	0.30mi
22 Parkview Ave Indianapolis, IN	3.0	1.5	1728	$1,450	$0.84	9d	1	0.31mi
43 N Randolph St Indianapolis, IN	3.0	2.0	1250	$1,399	$1.12	45d	1	0.32mi
420 Eastern Ave Indianapolis, IN	3.0	1.0	1900	$1,325	$0.70	45d	1	0.32mi
17 N Randolph St Indianapolis, IN	3.0	2.0	1822	$2,075	$1.14	6d	1	0.34mi
12 N Randolph St Indianapolis, IN	3.0	1.0	1485	$1,650	$1.11	45d	1	0.36mi
303 N State Ave Indianapolis, IN	3.0	1.0	1700	$1,275	$0.75	25d	1	0.40mi
29 N Walcott St Indianapolis, IN	4.0	3.0	2200	$2,400	$1.09	45d	1	0.44mi
635 Jefferson Ave Indianapolis, IN	3.0	1.5	1744	$1,700	$0.97	45d	1	0.45mi
2822 E Michigan St Indianapolis, IN	3.0	2.0	1918	$1,999	$1.04	23d	1	0.46mi
625 N Tacoma Ave Indianapolis, IN	3.0	1.0	1160	$1,350	$1.16	12d	1	0.46mi
627 N Tacoma Ave Indianapolis, IN	3.0	1.0	1160	$1,350	$1.16	12d	1	0.46mi
656 N Beville Ave Indianapolis, IN	3.0	2.5	2121	$3,500	$1.65	25d	1	0.47mi
515 N Oxford St Indianapolis, IN	2.0	1.5	1728	$1,050	$0.61	4d	1	0.50mi
1541 E Ohio St Indianapolis, IN	3.0	1.0	1400	$1,399	$1.00	45d	1	0.50mi
1534 E Ohio St Indianapolis, IN	3.0	2.5	1204	$1,650	$1.37	18d	1	0.51mi
1531 Sturm Ave Indianapolis, IN	3.0	2.0	1806	$1,515	$0.84	25d	1	0.51mi
1529 Sturm Ave Indianapolis, IN	3.0	2.0	1806	$1,515	$0.84	25d	1	0.51mi
2903 E Michigan St Indianapolis, IN	3.0	2.0	1310	$1,650	$1.26	16d	1	0.51mi
1529 E Ohio St Indianapolis, IN	2.0	1.0	1118	$1,299	$1.16	45d	1	0.52mi
2015 E Maryland St Indianapolis, IN	3.0	2.0	1250	$1,495	$1.20	45d	1	0.53mi
619 N Rural St Indianapolis, IN	3.0	2.0	1300	$1,600	$1.23	25d	1	0.53mi
408 N Oakland Ave Unit A Indianapolis, IN	2.0	2.0	1100	$995	$0.90	19d	1	0.53mi
408 N Oakland Ave Unit A Indianapolis, IN	2.0	2.0	1100	$995	$0.90	0d	1	0.53mi
826 N Beville Ave Indianapolis, IN	3.0	1.0	1472	$1,295	$0.88	6d	1	0.54mi
826 N Beville Ave Indianapolis, IN	3.0	1.0	1472	$1,295	$0.88	4d	1	0.54mi

Listing history 20 events

1. 2026-04-30
   status Pending
2. 2026-04-21
   price $204,000
3. 2026-03-29
   price $208,000
4. 2026-03-15
   price $212,000
5. 2026-03-05
   listed $205,000 Active
6. 2025-11-15
   historical
7. 2025-10-28
   price $199,000
8. 2025-06-16
   status Active
9. 2025-06-03
   status Pending
10. 2025-05-06
    price $207,000
11. 2025-02-27
    price $209,000
12. 2024-12-17
    status Active
13. 2024-12-14
    historical
14. 2024-11-25
    price $211,000
15. 2024-10-23
    price $214,000
16. 2024-10-08
    price $218,000
17. 2024-08-14
    price $223,000
18. 2024-08-14
    price $223
19. 2024-08-14
    status Active
20. 2024-06-15
    listed $215,000 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: $739 · $62/mo
• Projected year-2 tax: $1,237 · $103/mo
• Expected delta: +$497/yr (+$41/mo · 67.3%)

ⓘ 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 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: $20,455
• − Mortgage interest: −$11,427
• − Property taxes: −$739
• − Insurance: −$1,020
• − Repairs & maintenance: −$1,636
• − Management: −$1,636
• − Depreciation: −$5,935
• Taxable loss: −$1,939
• Est. tax savings @ 24.0%: +$465
• After-tax cash flow: $2,028/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): 30,335
• Household income: $49,195
• Rent vs Own: 48.4% rent · 51.6% own
• Severe rent burden: 1906.0

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 0.63)
• Race & ethnicity: White 53% Hispanic / Latino 23% Black 18% Two or more races 9%
• Hispanic origin (detail): Mexican 14% Puerto Rican 2%
• Common ancestry: Slovak 2% Lithuanian 2% Italian 1%
• Foreign-born: 9% · Canada
• Languages at home: 81% English-only · Spanish 17%

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: ▼ -192.51%
• Current HPI: 375.0969
• Rent YoY: ▲ 7.31%
• 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

-5.1% since first listed

20 events — show timeline

• 2026-04-30 Pending — MIBOR as Distributed by MLS Grid
• 2026-04-21 Price Changed $204,000 MIBOR as Distributed by MLS Grid
• 2026-03-29 Price Changed $208,000 MIBOR as Distributed by MLS Grid
• 2026-03-15 Price Changed $212,000 MIBOR as Distributed by MLS Grid
• 2026-03-05 Listed $205,000 MIBOR as Distributed by MLS Grid
• 2025-11-15 Listing Removed — MIBOR as Distributed by MLS Grid
• 2025-10-28 Price Changed $199,000 MIBOR as Distributed by MLS Grid
• 2025-06-16 Relisted — MIBOR as Distributed by MLS Grid
• 2025-06-03 Pending — MIBOR as Distributed by MLS Grid
• 2025-05-06 Price Changed $207,000 MIBOR as Distributed by MLS Grid
• 2025-02-27 Price Changed $209,000 MIBOR as Distributed by MLS Grid
• 2024-12-17 Relisted — MIBOR as Distributed by MLS Grid
• 2024-12-14 Listing Removed — MIBOR as Distributed by MLS Grid
• 2024-11-25 Price Changed $211,000 MIBOR as Distributed by MLS Grid
• 2024-10-23 Price Changed $214,000 MIBOR as Distributed by MLS Grid
• 2024-10-08 Price Changed $218,000 MIBOR as Distributed by MLS Grid
• 2024-08-14 Price Changed $223,000 MIBOR as Distributed by MLS Grid
• 2024-08-14 Price Changed $223 MIBOR as Distributed by MLS Grid
• 2024-08-14 Relisted — MIBOR as Distributed by MLS Grid
• 2024-06-15 Listed $215,000 MIBOR as Distributed by MLS Grid

Property tax history

+25.0%/yr

Latest (2025): $739 · +15.7% YoY. Source: county tax records.