918 N Elder Ave · Indianapolis city (balance), IN 46222

$125,000

2 bd · 1.0 ba · 837 sqft · SingleFamily public records · 4 Days on market

Built 1930 4,792 sqft lot Est $126k · at est.

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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 +16.4/30.0
• ARV discount +8.0/15.0
• DSCR +5.1/10.0
• 1% rule +5.0/10.0
• 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 MLS

Are you looking for a home that is ready to move right into? Check out this wonderful 2 bedroom, 1 bathroom home just minutes from IUPUI, Eskanazi, The Indianapolis Zoo, and all other wonderful attractions Downtown has to offer. Updated throughout AND 3 new foundation walls, this house is a great home for any buyer. Check it out ASAP!

Key facts

• 4,792 sq ft lot
• Built 1930
• Listed 3 days

Property features AI

Exterior

• Utilities: Public water; Municipal sewer connection; Regular solid waste service
• Home design: Single-family residence; Updated/remodeled condition; One story; Facing east
• Construction: Vinyl siding; Block foundation
• Exterior features: Covered patio/porch; Lot less than 1/4 acre

Interior

• Kitchen: Electric oven; Refrigerator
• Bedrooms: 2 bedrooms on the main level (each approximately 12 x 10)
• Bathrooms: 1 full bathroom on the main level
• Heating & cooling: Forced air heating; Window air conditioning units
• Interior features: Eat-in kitchen; Covered patio/porch
• Laundry & utility: Basement present

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $125k.

Deal economics

• At list price, monthly cash flow is $70 ($842/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 $125k (0.3% below list).
• Recommended offer: $125k (0.3% below list) — sets the bar for 1% rule.
• Cap rate 7.0% 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.
• Market conditions: Rents rising (+2.5%/yr); 173 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 $864 of loan paydown is wiped out by about $4k 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

• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.
• 5 sale attempts since 3y 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.
• Current owner paid $95k; 32% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1930 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $124,626 (0.3% below list)

Questions for the listing agent

1. Built in 1930 — 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. 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?
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: 1.00% ✗
• Cap rate: 6.97%
• Cash-on-cash: 2.41%
• DSCR: 1.11
• GRM: 8.4

CMA / ARV

• ARV (on-the-fly): $126,387
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1106 N Sheffield Ave	0.33mi	2/1.0	852 (+2%)	10mo	$118,000	$138	73
1918 Wilcox St	0.37mi	2/1.0	893 (+7%)	2mo	$85,000	$95	70
726 Lynn St	0.14mi	3/1.0 (+1)	864 (+3%)	22mo	$108,000	$125	65
561 Lynn St	0.21mi	3/1.5 (+1)	920 (+10%)	5mo	$135,000	$147	62
754 N Holmes Ave	0.62mi	2/1.0	800 (-4%)	4mo	$121,000	$151	61
1929 Wilcox St	0.40mi	2/1.0	778 (-7%)	11mo	$70,000	$90	60
549 N Traub Ave	0.25mi	3/1.0 (+1)	900 (+8%)	13mo	$100,000	$111	60
715 N Warman Ave	0.67mi	2/1.0	816 (-2%)	12mo	$129,900	$159	55
1014 N Sheffield Ave	0.27mi	3/2.0 (+1)	952 (+14%)	8mo	$173,000	$182	50
225 N Reisner St	0.66mi	2/1.0	806 (-4%)	20mo	$169,900	$211	46
1744 W Miami St	0.65mi	2/1.0	772 (-8%)	21mo	$144,000	$187	39
1746 W Miami St	0.65mi	2/1.0	772 (-8%)	22mo	$125,000	$162	38

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: -13.1%
• Equity multiple: 0.53×
• Total profit: $-16,408
• Equity at exit: $18,638

10-year hold

• IRR: -4.9%
• Equity multiple: 0.68×
• Total profit: $-11,062
• Equity at exit: $10,808

Cash invested: $35,000 (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 46222

• Home prices YoY: -16.7%
• Rents YoY: 2.5%
• Active inventory: 173
• Price-to-rent: 8.4×

Monthly cashflow live

• Estimated rent: $1,246 high
• Mortgage (P&I): −$656
• Tax from tax record: −$207 /mo · $2,481/yr
• Insurance: −$52
• HOA: −$0
• Vacancy / Maint / Mgmt: −$262
• Net cashflow: $70

Break-even live

Break-even rent $1,157

Max offer price $125,000

Occupancy floor 89%

Sensitivity live

Price	-10% $141	-5% $106	+0% $70	+5% $35	+10% $-1
Rent	-10% $-28	-5% $21	+0% $70	+5% $119	+10% $169
Rate	-1.0pp $133	-0.5pp $102	base $70	+0.5pp $38	+1.0pp $5

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: $31,250
• Closing costs: $3,750
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
525 N Belmont Ave Indianapolis, IN	3.0	1.0	912	$1,225	$1.34	25d	1	0.28mi
1150 N White River Pkwy West Dr Indianapolis, IN	1.0–2.0	1.0	722	$1,224	$1.69	3d	9	0.31mi
1911 Wilcox St Indianapolis, IN	2.0	1.0	896	$1,150	$1.28	45d	1	0.37mi
460 N White River Parkway Dr W Indianapolis, IN	2.0	1.0	681	$1,725	$2.53	0d	15	0.38mi
767 N Belleview Pl Indianapolis, IN	1.0	1.0	628	$899	$1.43	0d	1	0.44mi
765 N Belleview Pl Indianapolis, IN	1.0	1.0	628	$899	$1.43	0d	1	0.44mi
1411 N Pershing Ave Indianapolis, IN	1.0	1.0	700	$850	$1.21	45d	1	0.59mi
1510 Stadium Way Unit Stadium Flats-2203 Indianapolis, IN	2.0	1.0	770	$1,462	$1.90	0d	1	0.63mi
1510 Stadium Way Unit 220 Indianapolis, IN	1.0	1.0	665	$1,365	$2.05	9d	1	0.63mi
1155 N Holmes Ave Indianapolis, IN	3.0	1.0	952	$2,800	$2.94	4d	1	0.68mi
1410 Breedlove Ln Indianapolis, IN	2.0	1.0–2.0	947	$2,557	$2.70	0d	61	0.68mi
771 Haugh St Indianapolis, IN	2.0	1.0	714	$1,250	$1.75	21d	1	0.71mi
3014 W 10th St Unit 1 Indianapolis, IN	2.0	1.0	850	$749	$0.88	25d	1	0.80mi
3014 W 10th St Indianapolis, IN	2.0	1.0	850	$749	$0.88	45d	1	0.80mi
1409 N Warman Ave Indianapolis, IN	2.0	1.0	816	$1,300	$1.59	21d	1	0.82mi
1201 Indiana Ave Indianapolis, IN	1.0–3.0	1.0–3.5	967	$1,770	$1.83	0d	34	0.86mi
1918 W Washington St Unit 12 Indianapolis, IN	1.0	1.0	600	$950	$1.58	45d	1	0.86mi
264 N Holmes Ave Indianapolis, IN	2.0	1.0	1092	$1,200	$1.10	12d	1	0.89mi
2701 W 17th St Indianapolis, IN	2.0	1.0	810	$899	$1.11	9d	1	0.90mi
1165 N Concord St Indianapolis, IN	1.0	1.0	695	$775	$1.12	45d	1	0.94mi
55 S Harding St #308 Indianapolis, IN	1.0	1.0	754	$1,200	$1.59	25d	1	0.97mi
240 N Warman Ave Indianapolis, IN	2.0–3.0	1.0–2.0	1052	$1,150	$1.09	21d	5	0.98mi
86 N Holmes Ave Indianapolis, IN	2.0	1.0	978	$1,050	$1.07	17d	1	0.99mi
101 S Harding St Apt 307 Indianapolis, IN	2.0	2.0	970	$1,685	$1.74	4d	1	0.99mi
1228 W 18th St Indianapolis, IN	2.0	1.0	1050	$1,200	$1.14	45d	1	1.00mi
930 W 10th St Indianapolis, IN	1.0–4.0	1.0–4.0	874	$2,371	$2.71	5d	1	1.05mi
411 N Centennial St Indianapolis, IN	2.0	1.0	750	$995	$1.33	9d	1	1.11mi
735 W 11th St Indianapolis, IN	2.0	1.0	712	$1,398	$1.96	45d	1	1.14mi
2106 Cold Spring Rd Indianapolis, IN	2.0	1.0–1.5	940	$1,294	$1.38	0d	3	1.28mi
2011 N Kessler Boulevard Dr Indianapolis, IN	3.0	1.0	888	$1,375	$1.55	25d	1	1.35mi
1022 Doctor Martin Luther King Junior St Indianapolis, IN	1.0	1.0	645	$875	$1.36	25d	1	1.36mi
1415 W Pruitt St Indianapolis, IN	3.0	1.0	1001	$1,249	$1.25	25d	1	1.36mi
1226 Doctor Martin Luther King Junior St Indianapolis, IN	1.0–3.0	1.0–3.5	1067	$1,828	$1.71	0d	10	1.37mi
1441 W Lynn Dr Indianapolis, IN	3.0	2.0	967	$1,550	$1.60	45d	1	1.39mi
1367 W Pruitt St Indianapolis, IN	3.0	1.0	1088	$1,450	$1.33	45d	1	1.40mi
2248 N Harding St Indianapolis, IN	2.0	1.0	1100	$899	$0.82	25d	1	1.41mi
632 Doctor Martin Luther King Junior St Indianapolis, IN	1.0	1.0	504	$1,300	$2.58	0d	2	1.45mi
929 Fayette St Unit D Indianapolis, IN	1.0	1.0	832	$1,095	$1.32	25d	1	1.46mi
1401 Doctor Martin Luther King Junior St Indianapolis, IN	1.0–2.0	1.0	982	$1,875	$1.91	15d	1	1.46mi
925 N Somerset Ave Indianapolis, IN	3.0	1.0	1061	$1,300	$1.23	9d	1	1.47mi

Listing history 3 events

1. 2026-06-21
   days on market $125,000 Active 4 DOM
2. 2026-06-18
   remarks 699-char remark
3. 2026-06-18
   listed $125,000 Active 1 DOM

ⓘ 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: $2,481 · $207/mo
• Projected year-2 tax: $2,481 · $207/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: $14,955
• − Mortgage interest: −$7,002
• − Property taxes: −$2,481
• − Insurance: −$625
• − Repairs & maintenance: −$1,196
• − Management: −$1,196
• − Depreciation: −$3,636
• Taxable loss: −$1,182
• Est. tax savings @ 24.0%: +$284
• After-tax cash flow: $1,126/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): 38,887
• Household income: $50,783
• Rent vs Own: 51.7% rent · 48.3% own
• Severe rent burden: 1750.0

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: Highly diverse neighborhood (Simpson 0.72)
• Race & ethnicity: White 32% Black 30% Hispanic / Latino 30% Two or more races 12% Asian 2%
• Hispanic origin (detail): Mexican 24% Puerto Rican 1%
• Common ancestry: Lithuanian 1% Iranian 1% Slovak 1%
• Foreign-born: 21% · Canada, Jamaica
• Languages at home: 67% English-only · Spanish 25% Other Indo-European 3% Arabic 2%

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: ▼ -75.47%
• Current HPI: 375.8479
• 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

+13.7% since first listed

12 events — show timeline

• 2026-05-12 Listed $125,000 MIBOR as Distributed by MLS Grid
• 2023-09-25 Rental Removed $875 MIBOR
• 2023-09-08 Price Changed $875 MIBOR
• 2023-08-29 Listed for Rent $925 MIBOR
• 2023-08-22 Sold (MLS) $95,000 MIBOR as Distributed by MLS Grid
• 2023-07-18 Pending — MIBOR as Distributed by MLS Grid
• 2023-07-14 Relisted — MIBOR as Distributed by MLS Grid
• 2023-06-27 Pending — MIBOR as Distributed by MLS Grid
• 2023-06-19 Relisted — MIBOR as Distributed by MLS Grid
• 2023-06-05 Pending — MIBOR as Distributed by MLS Grid
• 2023-04-27 Price Changed $99,900 MIBOR as Distributed by MLS Grid
• 2023-03-13 Listed $109,900 MIBOR as Distributed by MLS Grid

Property tax history

+19.2%/yr

Latest (2025): $2,481 · +10.0% YoY. Source: county tax records.