616 W Nelson St · Marion, IN 46952

$89,000

3 bd · 1.0 ba · 1,140 sqft · SingleFamily public records · 44 Days on market

Built 1910 10,454 sqft lot $78/sqft · 29% above area Est $69k · 29% over ↓ 6% since listing

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Why this score? — see what drove the C- 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 +27.6/30.0
• DSCR +9.7/10.0
• 1% rule +7.5/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.7/10.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks

Charming bungalow full of character and opportunity! This 2-bedroom home welcomes you with a spacious front porch-perfect for relaxing mornings or evenings unwinding. Inside, you'll find cozy living spaces with hardwood floors hidden beneath the carpet, just waiting to be restored to their original beauty. This home offers a great layout and timeless details throughout. Don't miss your chance to bring new life to this classic home with great bones and undeniable charm!

Key facts

• 0.24 acre lot
• Garage
• Built 1910

Property features AI

Exterior

• Parking: Detached 1-car garage
• Utilities: Public water; Public sewer; Electric water heater
• Home design: Single-family, site-built home; One story
• Construction: Wood siding; Partial basement
• Exterior features: Level lot

Interior

• Kitchen: Gas range; Refrigerator; Freezer
• Bathrooms: 1 full bathroom (main level)
• Heating & cooling: Natural gas forced-air heating; Central air conditioning
• Interior features: Window treatments; Living room fireplace (1)
• Laundry & utility: Washer; Dryer; Laundry in basement; Electric water heater

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $89k.

Deal economics

• At list price, monthly cash flow is $266 ($3k/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.

Location & tenants

• Location reads 65/100 on livability (#337 in IN) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F, employment F.
• Marion Community Schools (town): math 18% / reading 24% proficiency, ranked #277 of 301 in IN (top 92%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 67% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Riverview Elementary School (math 42% / reading 27%, grade F, #597 of 994 statewide, top 63%, 396 students, 72% FRL); John L Mcculloch Junior High Sch (math 11% / reading 22%, grade F, #287 of 330 statewide, top 88%, 524 students, 74% FRL); Marion High School (math 12% / reading 47%, grade F, #308 of 369 statewide, top 84%, 1,050 students, 66% FRL) — zoned schools at 71% FRL track the district average.
• Market conditions: 124 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; 52 units permitted in Grant County in 2024 (8 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.
• Grant County population projected at -18% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% 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 44 days — a 3% lower offer ($86k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1910 — 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 44 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 1910 — 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. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
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: 1.25% ✓
• Cap rate: 9.88%
• Cash-on-cash: 12.81%
• DSCR: 1.57
• GRM: 6.7

CMA / ARV

• ARV (median comp): $68,816
• List price: $89,000
• Delta: 29.33%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
221 N D St	0.17mi	3/2.0	1,221 (+7%)	2mo	$144,500	$118	74
229 W Spencer Ave	0.17mi	2/1.5 (-1)	1,214 (+6%)	1mo	$115,000	$95	73
636 W 1st St	0.06mi	2/1.0 (-1)	1,218 (+7%)	11mo	$113,200	$93	71
312 Horace Mann Ct	0.22mi	2/1.0 (-1)	1,040 (-9%)	5mo	$153,000	$147	66
916 S Nebraska St	0.64mi	3/1.0	1,088 (-5%)	2mo	$30,000	$28	61
1148 W 6th St	0.54mi	2/1.0 (-1)	1,161 (+2%)	8mo	$123,100	$106	60
215 N G St	0.36mi	3/1.0	1,242 (+9%)	12mo	$25,000	$20	59
623 N Willow Dr	0.57mi	3/1.5	1,025 (-10%)	0mo	$55,000	$54	54
706 S Western Ave	0.66mi	2/1.0 (-1)	1,116 (-2%)	11mo	$51,000	$46	52
1420 W 5th St	0.63mi	2/1.5 (-1)	1,074 (-6%)	5mo	$48,000	$45	50
1015 W 3rd St	0.33mi	2/1.5 (-1)	1,298 (+14%)	8mo	$76,900	$59	48
916 N Oxford Dr	0.64mi	3/2.0	1,300 (+14%)	3mo	$142,000	$109	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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 2.6%
• Equity multiple: 1.10×
• Total profit: $2,535
• Equity at exit: $13,270

10-year hold

• IRR: 12.2%
• Equity multiple: 1.97×
• Total profit: $24,090
• 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 46952

• Home prices YoY: -29.9%
• Active inventory: 124
• Price-to-rent: 6.7×

Monthly cashflow live

• Estimated rent: $1,115 medium
• Mortgage (P&I): −$467
• Tax est. 1.5%: −$111 /mo · $1,335/yr
• Insurance: −$37
• HOA: −$0
• Vacancy / Maint / Mgmt: −$234
• Net cashflow: $266

Break-even live

Break-even rent $779

Max offer price $89,000

Occupancy floor 71%

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 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
715 E Sherman St Marion, IN	2.0	1.0	1085	$1,050	$0.97	44d	1	0.98mi
2116 W 2nd St Marion, IN	1.0–2.0	1.0	764	$945	$1.24	44d	1	1.25mi
2145 W 2nd St Marion, IN	3.0	1.5	1377	$1,650	$1.20	44d	1	1.37mi
2111 W Frederick Dr Marion, IN	1.0–2.0	1.0–1.5	965	$937	$0.97	44d	4	1.46mi

Listing history 15 events

1. 2026-06-19
   days on market $89,000 Active 44 DOM
2. 2026-06-18
   days on market $89,000 Active 43 DOM
3. 2026-06-17
   days on market $89,000 Active 42 DOM
4. 2026-06-16
   days on market $89,000 Active 41 DOM
5. 2026-06-15
   days on market $89,000 Active 40 DOM
6. 2026-06-14
   days on market $89,000 Active 38 DOM
7. 2026-06-12
   days on market $89,000 Active 37 DOM
8. 2026-06-09
   days on market $89,000 Active 34 DOM
9. 2026-06-08
   days on market $89,000 Active 33 DOM
10. 2026-06-07
    days on market $89,000 Active 32 DOM
11. 2026-06-02
    days on market $89,000 Active 27 DOM
12. 2026-06-01
    days on market $89,000 Active 26 DOM
13. 2026-05-31
    days on market $89,000 Active 25 DOM
14. 2026-05-30
    days on market $89,000 Active 24 DOM
15. 2026-05-06
    listed $94,500 Active 473-char remark

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

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 ≥100°F today · 18 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $13,383
• − Mortgage interest: −$4,985
• − Property taxes: −$1,335
• − Insurance: −$445
• − Repairs & maintenance: −$1,071
• − Management: −$1,071
• − Depreciation: −$2,589
• Taxable income: $1,887
• Est. tax owed @ 24.0%: −$453
• After-tax cash flow: $2,739/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: Marion Community Schools
• NCES district ID: 1806390
• Math proficiency: 18% ▼ -9.00%
• Reading proficiency: 24% ▼ -6.00%
• Median HH income: $33,415
• Composite: 17.13/100
• National rank: #9115
• State rank: #277 of 301 in IN

Livability — Marion

• Score: 65/100
• State rank: #337
• US rank: #13006

Category grades

Amenities F Commute F Cost of living A+ Crime A+ Employment F Housing A+ Health & safety D- User ratings C+

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Marion, IN
• County: Grant County · 41,561 people
• City population: 41,561
• Metro: Marion, IN
• Population (ZIP): 18,189
• Household income: $52,880
• Rent vs Own: 31.5% rent · 68.5% own
• Severe rent burden: 662.0

Population outlook (Grant County) Hauer SSP2

• Today (2025): 64,394 people
• By 2030: 62,145 · -3.5%
• By 2040: 57,252 · -11.1%
• By 2050: 52,968 · -17.7%
• By 2075: 45,986 · -28.6%
• By 2100: 39,400 · -38.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (84%)
• Race & ethnicity: White 84% Two or more races 7% Hispanic / Latino 5% Black 4% Asian 1%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Italian 3% Romanian 1% Iranian 1%
• Foreign-born: 4% · Canada
• Languages at home: 96% English-only · Spanish 3%

Political lean MEDSL · Grant

• 2024 margin: Solid R (+41.8) · D 28.2% · R 70.0% · Other 1.9%
• 2008→2024 swing: -28.7pp toward R · 2008: -13.1pp · 2024: -41.8pp
• All cycles: 2024: R+41.8 2020: R+38.8 2016: R+39.5 2012: R+22.0 2008: R+13.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -76.69%
• Current HPI: 180.1174
• Rent YoY: —
• Metro: Marion, 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

-5.8% since first listed

2 events — show timeline

• 2026-05-28 Price Changed $89,000 IRMLS
• 2026-05-06 Listed $94,500 IRMLS