2621 Southeastern Ave · Indianapolis city (balance), IN 46201

$79,900

3 bd · 1.5 ba · 1,320 sqft · SingleFamily public records · 5 Days on market

Built 1909 4,051 sqft lot

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Rent growth +4.3/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.4/10.0
• Appreciation +0.0/10.0

Listing remarks

INVESTOR SPECIAL! 3 BDRM/ 1.5 BATHS, 2+ CAR DETACHED GARAGE. Great price to make money on a rehab. Home needs a lot of work and is being sold in AS-IS condition. All items/personal/trash, etc will remain with the sale of the home. It is up to the buyer to do the clean out after closing. There is some standing water in the unfinished basement. Tax records do not show the total upper square footage for 2nd level and is estimated on the listing. Home had AC and heat but not warranted by the seller to still be in the home or be in any working condition at the time of showings or closing. Home is being sold in an estate. Cash buyers only. All room sizes are estimated and not guaranteed to be cor

Key facts

• 4,051 sq ft lot
• 2 garage spots
• Built 1909

Property features AI

Exterior

• Parking: Detached 2-car garage
• Utilities: Public water; Municipal sewer connected; Solid waste service available
• Home design: Single-family residence; One-and-a-half story; Property condition: fixer
• Construction: Aluminum siding and brick exterior; Block foundation
• Exterior features: Covered and screened porch/patio; City lot with sidewalks; Mature trees and small trees (under 20 ft)

Interior

• Kitchen: No appliances included
• Bedrooms: Three bedrooms total — one on the main level and two on the upper level
• Bathrooms: One full bathroom (upper level); One half bathroom (main level)
• Heating & cooling: No heating system listed; No cooling system listed
• Interior features: High ceilings; Unfinished basement
• Laundry & utility: No built-in laundry/appliances listed

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $80k.

Deal economics

• At list price, monthly cash flow is $684 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $80k).
• Cap rate 16.6% 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.
• 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 25d on market — plan ~3-4 weeks tenant-placement turnaround); 48% 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 37% 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 $552 of loan paydown is wiped out by about $2k 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 + 7.3% rent growth), your $22k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• Only 5 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1909 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $79,900

Questions for the listing agent

1. Built in 1909 — 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: 1.88% ✓
• Cap rate: 16.57%
• Cash-on-cash: 36.70%
• DSCR: 2.63
• GRM: 4.4

CMA / ARV

• ARV (on-the-fly): $176,880
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
319 S Temple Ave	0.15mi	3/2.5	1,313 (-0%)	4mo	$177,500	$135	85
442 S Oxford St	0.13mi	3/2.5	1,272 (-4%)	0mo	$170,000	$134	83
2820 English Ave	0.12mi	2/2.0 (-1)	1,260 (-4%)	3mo	$140,000	$111	77
714 S Keystone Ave	0.26mi	2/1.0 (-1)	1,223 (-7%)	2mo	$172,900	$141	67
2320 Spann Ave	0.28mi	2/2.0 (-1)	1,219 (-8%)	5mo	$183,000	$150	63
315 S Dearborn St	0.44mi	3/1.0	1,232 (-7%)	9mo	$159,000	$129	59
3040 English Ave	0.30mi	3/1.0	1,140 (-14%)	9mo	$80,000	$70	54
1004 S Keystone Ave	0.46mi	2/2.5 (-1)	1,218 (-8%)	4mo	$265,000	$218	54
158 Harlan St	0.52mi	3/1.0	1,172 (-11%)	3mo	$57,000	$49	52
1740 Spann Ave	0.63mi	3/2.0	1,178 (-11%)	8mo	$280,000	$238	45
302 Villa Ave	0.54mi	3/1.5	1,508 (+14%)	9mo	$70,000	$46	44
912 Harlan St	0.57mi	2/1.0 (-1)	1,491 (+13%)	2mo	$175,000	$117	43

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: 37.2%
• Equity multiple: 2.67×
• Total profit: $37,424
• Equity at exit: $11,913

10-year hold

• IRR: 45.8%
• Equity multiple: 6.33×
• Total profit: $119,195
• Equity at exit: $6,908

Cash invested: $22,372 (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: 4.4×

Monthly cashflow live

• Estimated rent: $1,504 high
• Mortgage (P&I): −$419
• Tax from tax record: −$52 /mo · $622/yr
• Insurance: −$33
• HOA: −$0
• Vacancy / Maint / Mgmt: −$316
• Net cashflow: $684

Break-even live

Break-even rent $638

Max offer price $79,900

Occupancy floor 50%

Sensitivity live

Price	-10% $729	-5% $707	+0% $684	+5% $662	+10% $639
Rent	-10% $565	-5% $625	+0% $684	+5% $744	+10% $803
Rate	-1.0pp $724	-0.5pp $704	base $684	+0.5pp $663	+1.0pp $642

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: $19,975
• Closing costs: $2,397
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2631 Southeastern Ave Indianapolis, IN	3.0	2.0	1072	$1,195	$1.11	13d	1	0.02mi
330 S Rural St Indianapolis, IN	2.0	1.0	960	$1,050	$1.09	8d	1	0.16mi
323 S Rural St Indianapolis, IN	3.0	1.5	1090	$1,050	$0.96	45d	1	0.20mi
2320 Spann Ave Indianapolis, IN	2.0	2.0	1219	$1,795	$1.47	17d	1	0.27mi
241 S Temple Ave Indianapolis, IN	3.0	2.0	1200	$1,350	$1.12	45d	1	0.27mi
420 Hamilton Ave Unit A Indianapolis, IN	3.0	2.0	1350	$1,550	$1.15	45d	1	0.41mi
420 Hamilton Ave Unit B Indianapolis, IN	3.0	2.0	1350	$1,450	$1.07	11d	1	0.41mi
225 Hamilton Ave Indianapolis, IN	2.0	2.0	1008	$1,695	$1.68	45d	1	0.42mi
909 Saint Peter St Indianapolis, IN	3.0	2.0	1200	$1,800	$1.50	45d	1	0.42mi
253 S Gray St Indianapolis, IN	3.0	1.5	1176	$1,660	$1.41	3d	1	0.43mi
2218 Pleasant St Indianapolis, IN	3.0	2.0	1376	$2,499	$1.82	24d	1	0.46mi
420 Harlan St Indianapolis, IN	2.0	2.0	1260	$1,500	$1.19	24d	1	0.46mi
2230 Woodlawn Ave Indianapolis, IN	2.0	1.0	924	$1,350	$1.46	45d	1	0.49mi
151 Harlan St Unit A Indianapolis, IN	3.0	2.0	1250	$1,549	$1.24	24d	1	0.51mi
2015 Southeastern Ave Unit 2015 Indianapolis, IN	2.0	2.5	1350	$2,200	$1.63	24d	1	0.51mi
2015 E Maryland St Indianapolis, IN	3.0	2.0	1250	$1,495	$1.20	45d	1	0.55mi
2116 Woodlawn Ave Indianapolis, IN	2.0	2.0	1054	$1,175	$1.11	8d	1	0.55mi
1011 Harlan St Indianapolis, IN	2.0	2.0	1008	$1,525	$1.51	45d	1	0.59mi
1013 Harlan St Indianapolis, IN	2.0	1.0	1008	$1,475	$1.46	45d	1	0.59mi
1123 Churchman Ave Indianapolis, IN	3.0	1.5	1472	$1,360	$0.92	15d	1	0.66mi
39 N Tacoma Ave Indianapolis, IN	3.0	1.0	1233	$895	$0.73	45d	1	0.66mi
28 S Dearborn St Unit B Indianapolis, IN	2.0	1.5	1166	$1,150	$0.99	24d	1	0.67mi
28 S Dearborn St Unit A Indianapolis, IN	3.0	1.0	1100	$1,400	$1.27	11d	1	0.67mi
41 Keystone Ave Indianapolis, IN	3.0	2.5	1600	$2,500	$1.56	45d	1	0.67mi
43 Keystone Ave Indianapolis, IN	3.0	2.5	1600	$2,291	$1.43	17d	1	0.67mi
1053 Villa Ave Indianapolis, IN	3.0	1.5	1281	$1,400	$1.09	45d	1	0.68mi
47 Keystone Ave Indianapolis, IN	3.0	2.5	1600	$2,500	$1.56	45d	1	0.68mi
518 S State Ave Indianapolis, IN	2.0	1.0	900	$725	$0.81	45d	1	0.69mi
512 S State Ave Unit 512 State 120% AMI Indianapolis, IN	3.0	1.0	1200	$1,400	$1.17	24d	1	0.69mi
1020 S Randolph St Indianapolis, IN	3.0	1.5	1550	$1,650	$1.06	24d	1	0.71mi
20 N Gray St Indianapolis, IN	3.0	2.0	1300	$1,800	$1.38	45d	1	0.73mi
22 Hendricks Pl Unit 22 Indianapolis, IN	3.0	1.5	1730	$1,600	$0.92	19d	1	0.73mi
3441 Prospect St Indianapolis, IN	2.0	1.0	1008	$1,500	$1.49	24d	1	0.73mi
3441 Prospect St Indianapolis, IN	2.0	1.0	1008	$1,700	$1.69	45d	1	0.73mi
17 E Parkview Ave Unit 19 Indianapolis, IN	3.0	1.0	1530	$1,650	$1.08	45d	1	0.74mi
17 E Parkview Ave Unit 17 Indianapolis, IN	3.0	1.5	1530	$1,650	$1.08	45d	1	0.74mi
37 S Tuxedo St Indianapolis, IN	3.0	1.0	950	$1,150	$1.21	45d	1	0.75mi
228 N Tacoma Ave Indianapolis, IN	3.0	1.0	1200	$1,100	$0.92	11d	1	0.75mi
22 Parkview Ave Indianapolis, IN	3.0	1.5	1728	$1,450	$0.84	8d	1	0.76mi
238 Eastern Ave Indianapolis, IN	3.0	2.0	1850	$1,900	$1.03	24d	1	0.76mi

Listing history 5 events

1. 2026-06-16
   status $79,900 Pending 5 DOM
2. 2026-06-15
   days on market $79,900 Active 5 DOM
3. 2026-06-13
   days on market $79,900 Active 3 DOM
4. 2026-06-13
   remarks 699-char remark
5. 2026-06-13
   listed $79,900 Active 2 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: $622 · $52/mo
• Projected year-2 tax: $651 · $54/mo
• Expected delta: +$28/yr (+$2/mo · 4.6%)

ⓘ 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 4/10 Moderate 5 unhealthy d/yr today · 7 by 30 yrs out

Taxation est. · year 1

• Rental income: $18,050
• − Mortgage interest: −$4,476
• − Property taxes: −$622
• − Insurance: −$400
• − Repairs & maintenance: −$1,444
• − Management: −$1,444
• − Depreciation: −$2,324
• Taxable income: $7,340
• Est. tax owed @ 24.0%: −$1,762
• After-tax cash flow: $6,448/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

1 event — show timeline

• 2026-06-09 Listed $79,900 MIBOR as Distributed by MLS Grid

Property tax history

+26.5%/yr

Latest (2025): $622 · +135.6% YoY. Source: county tax records.