5020 Elliott Ave · Indianapolis city (balance), IN 46201

$134,900

3 bd · 1.0 ba · 1,238 sqft · SingleFamily public records · 38 Days on market

Built 1999 3,920 sqft lot $109/sqft · 22% below area Est $174k · 22% 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 +13.4/30.0
• 1% rule +5.2/10.0
• Rent growth +4.3/5.0
• DSCR +4.0/10.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.4/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

4BR and 1 bath home with covered porch! Brick exterior! Needs some repairs/cosmetics.

Key facts

• Large backyard
• Updated kitchen
• Open-concept layout

Tags

• OPEN-CONCEPT LAYOUT
• UPDATED KITCHEN
• LARGE BACKYARD
• CONVENIENT ACCESS TO SHOPPING
• CONVENIENT ACCESS TO DINING
• CONVENIENT ACCESS TO SCHOOLS

Property features AI

Exterior

• Parking: No parking listed
• Utilities: Public water; Municipal sewer connection; No solid waste service listed
• Home design: Single-family residence; One story; Slab foundation
• Construction: Brick construction
• Exterior features: Covered patio/porch; Storage shed; City lot with sidewalks and mature trees

Interior

• Kitchen: Electric oven; Refrigerator
• Bedrooms: 4 bedrooms on the main level
• Bathrooms: 1 full bathroom on the main level
• Heating & cooling: Natural gas heating; No central cooling listed
• Interior features: Eat-in kitchen; Smoke alarm

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $135k.

Deal economics

• At list price, monthly cash flow is $1 ($16/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $135k).
• Recommended offer: $131k (3.0% below list) — sets the bar for market timing.
• Cap rate 6.3% 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).
• 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); 1,906 units permitted in Marion County in 2024 (621 in 5+ unit buildings).
• This rent runs 34% 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 $933 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

• It's been on market 38 days — a 3% lower offer ($131k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 21y 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 $19k; list at $135k implies a 606% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 2.9% of price.

Recommended offer $130,853 (3.0% below list)

Questions for the listing agent

1. It's been on market 38 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
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: 1.02% ✓
• Cap rate: 6.30%
• Cash-on-cash: 0.04%
• DSCR: 1.00
• GRM: 8.1

CMA / ARV

• ARV (median comp): $174,004
• List price: $134,900
• Delta: -22.47%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
5017 E 14th St	0.21mi	3/1.0	1,290 (+4%)	4mo	$140,000	$109	80
1512 Wallace Ave	0.16mi	3/1.0	1,296 (+5%)	8mo	$120,000	$93	78
5310 E 16th St	0.44mi	3/1.5	1,288 (+4%)	0mo	$148,500	$115	70
1444 Wallace Ave	0.17mi	2/1.0 (-1)	1,121 (-10%)	8mo	$194,900	$174	64
1318 N Grant Ave	0.69mi	2/1.0 (-1)	1,255 (+1%)	1mo	$169,000	$135	60
4301 E 11th St	0.64mi	2/1.0 (-1)	1,271 (+3%)	5mo	$180,000	$142	56
1434 N Chester Ave	0.72mi	3/2.0	1,274 (+3%)	2mo	$232,000	$182	56
831 Wallace Ave	0.59mi	2/1.0 (-1)	1,320 (+7%)	1mo	$174,900	$133	55
1719 N Irvington Ave	0.49mi	3/1.5	1,084 (-12%)	1mo	$150,000	$138	53
1219 N Grant Ave	0.69mi	2/1.0 (-1)	1,316 (+6%)	4mo	$173,500	$132	50
1315 N Grant Ave N	0.66mi	3/2.5	1,404 (+13%)	2mo	$250,000	$178	40
1235 N Grant Ave	0.68mi	2/1.0 (-1)	1,056 (-15%)	8mo	$80,000	$76	32

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: -10.7%
• Equity multiple: 0.59×
• Total profit: $-15,413
• Equity at exit: $20,114

10-year hold

• IRR: 4.5%
• Equity multiple: 1.40×
• Total profit: $15,179
• Equity at exit: $11,664

Cash invested: $37,772 (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: 8.1×

Monthly cashflow live

• Estimated rent: $1,380 high
• Mortgage (P&I): −$707
• Tax from tax record: −$326 /mo · $3,906/yr
• Insurance: −$56
• HOA: −$0
• Vacancy / Maint / Mgmt: −$290
• Net cashflow: $1

Break-even live

Break-even rent $1,379

Max offer price $134,900

Occupancy floor 95%

Sensitivity live

Price	-10% $78	-5% $39	+0% $1	+5% $-37	+10% $-75
Rent	-10% $-108	-5% $-53	+0% $1	+5% $56	+10% $110
Rate	-1.0pp $69	-0.5pp $36	base $1	+0.5pp $-34	+1.0pp $-69

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: $33,725
• Closing costs: $4,047
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4930 Elliott Ave Indianapolis, IN	4.0	1.0	1219	$1,500	$1.23	45d	1	0.03mi
1824 N Riley Ave Indianapolis, IN	2.0	1.0	720	$1,150	$1.60	45d	1	0.26mi
4732 E 18th St Unit A Indianapolis, IN	3.0	2.0	1200	$1,700	$1.42	45d	1	0.28mi
1951 N Bosart Ave Indianapolis, IN	2.0	1.0	728	$1,000	$1.37	5d	1	0.47mi
1421 N Colorado Ave Indianapolis, IN	2.0	1.0	983	$1,225	$1.25	25d	1	0.52mi
5119 E 21st St Indianapolis, IN	2.0	1.0	816	$1,199	$1.47	45d	1	0.58mi
822 N Emerson Ave Indianapolis, IN	2.0	1.0	928	$1,050	$1.13	45d	1	0.59mi
5322 E 19th Pl Indianapolis, IN	2.0	1.0	720	$945	$1.31	45d	1	0.60mi
5242 E 20th Pl Indianapolis, IN	2.0	1.0	720	$1,050	$1.46	9d	1	0.61mi
1742 N Whittier Pl Indianapolis, IN	2.0	1.0	1440	$995	$0.69	0d	1	0.61mi
1742 N Whittier Pl Indianapolis, IN	2.0	1.0	1440	$995	$0.69	12d	1	0.61mi
5130 E 21st St Indianapolis, IN	3.0	2.0	1188	$1,500	$1.26	45d	1	0.61mi
5130 E 21st St Indianapolis, IN	3.0	2.0	1188	$1,500	$1.26	25d	1	0.61mi
953 N Linwood Ave Indianapolis, IN	2.0	1.0	960	$1,325	$1.38	45d	1	0.62mi
1702 N Ritter Ave Indianapolis, IN	2.0	1.0	750	$1,200	$1.60	5d	1	0.64mi
1506 N Grant Ave Indianapolis, IN	2.0	1.0	780	$1,150	$1.47	16d	1	0.66mi
861 N Drexel Ave Indianapolis, IN	3.0	1.0	1000	$1,200	$1.20	9d	1	0.68mi
861 N Drexel Ave Unit 863 Indianapolis, IN	3.0	1.0	1000	$1,200	$1.20	45d	1	0.68mi
1509 N Chester Ave Indianapolis, IN	2.0	1.0	950	$1,100	$1.16	23d	1	0.70mi
1509 N Chester Ave Indianapolis, IN	2.0	1.0	950	$1,100	$1.16	0d	1	0.70mi
2030 N Colorado Ave Indianapolis, IN	2.0	1.0	728	$1,150	$1.58	25d	1	0.73mi
2194 N Riley Ave Indianapolis, IN	3.0	1.0	1100	$1,749	$1.59	45d	1	0.74mi
1513 N Denny St Indianapolis, IN	3.0	1.0	874	$1,399	$1.60	25d	1	0.76mi
1417 N Denny St Indianapolis, IN	2.0	1.0	1000	$1,125	$1.12	25d	1	0.78mi
4417 Linwood Ct Indianapolis, IN	2.0	1.0	780	$929	$1.19	5d	15	0.78mi
729 N Bosart Ave Indianapolis, IN	2.0	1.0	888	$1,195	$1.35	25d	1	0.79mi
628 N Riley Ave Indianapolis, IN	2.0	1.5	948	$1,295	$1.37	25d	1	0.80mi
1424 N Denny St Indianapolis, IN	3.0	1.0	1206	$1,295	$1.07	45d	1	0.80mi
706 N Bosart Ave Indianapolis, IN	2.0	1.0	1000	$1,070	$1.07	25d	1	0.83mi
606 N Emerson Ave Indianapolis, IN	2.0	1.5	1372	$2,450	$1.79	25d	1	0.85mi
5105 E North St Indianapolis, IN	2.0	2.0	1180	$2,250	$1.91	45d	1	0.86mi
508 N Emerson Ave Unit 506 Indianapolis, IN	2.0	1.0	950	$950	$1.00	16d	1	0.89mi
508 Emerson Ave Indianapolis, IN	3.0	1.5	1094	$1,150	$1.05	15d	1	0.89mi
622 N Linwood Ave Indianapolis, IN	3.0	2.0	985	$1,299	$1.32	45d	1	0.90mi
1531 N Kealing Ave Unit A Indianapolis, IN	3.0	2.0	1250	$1,397	$1.12	25d	1	0.93mi
1531 N Kealing Ave Indianapolis, IN	3.0	2.0	1250	$1,500	$1.20	25d	1	0.93mi
1521 N Kealing Ave Indianapolis, IN	3.0	1.0	1250	$1,250	$1.00	19d	1	0.94mi
3617 Brookside Parkway South Dr Indianapolis, IN	2.0	1.0	800	$999	$1.25	25d	1	0.97mi
415 N Dequincy St Indianapolis, IN	3.0	2.0	1250	$1,900	$1.52	16d	1	0.98mi
3601 Brookside Parkway South Dr Indianapolis, IN	2.0	1.0	1025	$995	$0.97	45d	1	1.00mi

Listing history 23 events

1. 2026-06-21
   days on market $134,900 Active 38 DOM
2. 2026-06-18
   days on market $134,900 Active 35 DOM
3. 2026-06-17
   days on market $134,900 Active 34 DOM
4. 2026-06-16
   days on market $134,900 Active 33 DOM
5. 2026-06-15
   days on market $134,900 Active 32 DOM
6. 2026-06-13
   days on market $134,900 Active 30 DOM
7. 2026-06-13
   days on market $134,900 Active 29 DOM
8. 2026-06-09
   days on market $134,900 Active 26 DOM
9. 2026-06-08
   days on market $134,900 Active 25 DOM
10. 2026-06-07
    days on market $134,900 Active 24 DOM
11. 2026-06-03
    days on market $134,900 Active 20 DOM
12. 2026-06-02
    days on market $134,900 Active 19 DOM
13. 2026-06-01
    days on market $134,900 Active 18 DOM
14. 2026-05-31
    days on market $134,900 Active 17 DOM
15. 2026-05-14
    listed $134,900 Active 505-char remark
16. 2008-12-15
    soldstatus $19,100 87-char remark

    Show marketing remark (87 chars)

    4BR and 1 bath home with covered porch! Brick exterior! Needs some repairs/cosmetics.

17. 2008-11-14
    listed $14,900 87-char remark

    Show marketing remark (87 chars)

    4BR and 1 bath home with covered porch! Brick exterior! Needs some repairs/cosmetics.

18. 2008-03-03
    historical
19. 2008-01-03
    listed $79,900
20. 2005-11-26
    historical
21. 2005-09-29
    soldstatus $35,000
22. 2005-08-05
    listed $37,500
23. 2005-05-29
    listed $35,000

ⓘ 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: $3,906 · $326/mo
• Projected year-2 tax: $3,906 · $326/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 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: $16,564
• − Mortgage interest: −$7,556
• − Property taxes: −$3,906
• − Insurance: −$674
• − Repairs & maintenance: −$1,325
• − Management: −$1,325
• − Depreciation: −$3,924
• Taxable loss: −$2,148
• Est. tax savings @ 24.0%: +$515
• After-tax cash flow: $531/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

+285.4% since first listed

9 events — show timeline

• 2026-05-14 Listed $134,900 MIBOR as Distributed by MLS Grid
• 2008-12-15 Sold (MLS) $19,100 MIBOR as Distributed by MLS Grid
• 2008-11-14 Listed $14,900 MIBOR as Distributed by MLS Grid
• 2008-03-03 Listing Removed — MIBOR as Distributed by MLS Grid
• 2008-01-03 Listed $79,900 MIBOR as Distributed by MLS Grid
• 2005-11-26 Listing Removed — MIBOR as Distributed by MLS Grid
• 2005-09-29 Sold (MLS) $35,000 MIBOR as Distributed by MLS Grid
• 2005-08-05 Listed $37,500 MIBOR as Distributed by MLS Grid
• 2005-05-29 Listed $35,000 MIBOR as Distributed by MLS Grid

Property tax history

+15.6%/yr

Latest (2025): $3,906 · +33.3% YoY. Source: county tax records.