340 S Grand Ave · Indianapolis city (balance), IN 46219

$129,900

2 bd · 1.0 ba · 1,215 sqft · SingleFamily public records · 33 Days on market

Built 1915 6,795 sqft lot $107/sqft · 11% above area Est $168k · 23% under ↓ 10% 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).

• ARV discount +15.0/15.0
• Cash flow +11.7/30.0
• 1% rule +4.0/10.0
• DSCR +3.4/10.0
• Rent growth +3.2/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.4/10.0
• Appreciation +0.0/10.0

Listing remarks

This single family bungalow offers 2 comfortable bedrooms on main level, with a large 3rd bedroom upstairs, provides ample private space. A well-appointed full bathroom serves the home's needs. Further expanding the property's potential is a basement, offering additional storage or the possibility for future customization. This 1.5-story home set on a generous 6,795 square foot lot, with a 2 car detached garage. Discover the possibilities this bungalow holds for creating your ideal home. This home would make a great rental. Sold in as-is condition.

Key facts

• Full bathroom
• Basement
• Detached garage

Tags

• FULL BATHROOM
• BASEMENT
• DETACHED GARAGE

Property features AI

Finance

• Other: Property type: Residential

Exterior

• Parking: Detached 2-car garage; Guest street parking; Service door access to garage
• Utilities: Public water; Municipal sewer; Electricity connected; Natural gas connected; Solid waste service
• Home design: Single family residence; One and one-half story
• Construction: Stucco exterior; Block foundation
• Exterior features: Glass-enclosed patio/porch; Curbs and sidewalks; Small trees (under 20 ft)

Interior

• Kitchen: Gas oven; Refrigerator; Eat-in kitchen
• Bedrooms: 3 bedrooms total — 2 on the main level, 1 on the upper level
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating (natural gas); Central air conditioning
• Interior features: Attic stairway; Eat-in kitchen; Unfinished basement
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $130k.

Deal economics

• At list price, monthly cash flow is $-39 ($-470/yr) — negative.
• To cash-flow at today's rent, offer at most $123k (5.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $117k (10.0% below list).
• Recommended offer: $117k (10.0% below list) — sets the bar for 1% rule.
• Cap rate 5.9% 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 (+2.6%/yr); 143 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).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $898 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 33 days — a 3% lower offer ($126k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $9k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1915 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $116,861 (10.0% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 33 days. Have you received any prior offers? Is the seller open to a 10% concession, seller financing, or rate buy-down credit?
3. Built in 1915 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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.
7. 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.
8. 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: 0.90% ✗
• Cap rate: 5.93%
• Cash-on-cash: -1.29%
• DSCR: 0.94
• GRM: 9.3

CMA / ARV

• ARV (median comp): $168,394
• List price: $129,900
• Delta: -22.86%
• 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
330 S Grand Ave	0.01mi	3/1.0 (+1)	1,300 (+7%)	7mo	$149,500	$115	77
5109 E Burgess Ave	0.05mi	2/1.0	1,152 (-5%)	21mo	$107,500	$93	71
4830 Wentworth Blvd	0.29mi	2/1.0	1,152 (-5%)	10mo	$132,000	$115	69
729 Auvergne Ave	0.43mi	3/1.0 (+1)	1,152 (-5%)	1mo	$149,900	$130	66
620 S Irvington Ave	0.42mi	2/1.0	1,340 (+10%)	8mo	$182,000	$136	56
4805 Wentworth Blvd	0.35mi	2/1.0	1,104 (-9%)	20mo	$144,500	$131	51
5332 Fletcher Ave	0.36mi	3/1.0 (+1)	1,078 (-11%)	10mo	$139,000	$129	51
4425 Hoyt Ave	0.72mi	3/1.0 (+1)	1,128 (-7%)	2mo	$160,000	$142	48
5508 E Rawles Ter	0.46mi	3/1.0 (+1)	1,092 (-10%)	16mo	$144,000	$132	44
5810 Greenfield Ave	0.73mi	3/1.0 (+1)	1,099 (-10%)	2mo	$160,000	$146	43
781 S Emerson Ave	0.47mi	3/1.0 (+1)	1,104 (-9%)	18mo	$115,000	$104	43
4349 Fletcher Ave	0.70mi	2/1.0	1,080 (-11%)	14mo	$178,000	$165	37

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 · 2.63% rent growth · sell at horizon

5-year hold

• IRR: -18.8%
• Equity multiple: 0.34×
• Total profit: $-23,918
• Equity at exit: $19,369

10-year hold

• IRR: -12.0%
• Equity multiple: 0.30×
• Total profit: $-25,569
• Equity at exit: $11,231

Cash invested: $36,372 (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 46219

• Rents YoY: 2.6%
• Active inventory: 143
• Price-to-rent: 9.3×

Monthly cashflow live

• Estimated rent: $1,169 high
• Mortgage (P&I): −$681
• Tax from tax record: −$227 /mo · $2,724/yr
• Insurance: −$54
• HOA: −$0
• Vacancy / Maint / Mgmt: −$245
• Net cashflow: $-39

Break-even live

Break-even rent $1,218

Max offer price $122,987

Occupancy floor 98%

Sensitivity live

Price	-10% $34	-5% $-2	+0% $-39	+5% $-76	+10% $-113
Rent	-10% $-131	-5% $-85	+0% $-39	+5% $7	+10% $53
Rate	-1.0pp $26	-0.5pp $-6	base $-39	+0.5pp $-73	+1.0pp $-107

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: $32,475
• Closing costs: $3,897
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5131 E Burgess Ave Indianapolis, IN	2.0	1.0	816	$1,100	$1.35	45d	1	0.07mi
5131 E Burgess Ave Indianapolis, IN	2.0	1.0	816	$1,100	$1.35	0d	1	0.07mi
4931 Orion Ave Indianapolis, IN	2.0	1.0	1200	$1,450	$1.21	25d	1	0.15mi
4919 Orion Ave Indianapolis, IN	2.0	1.0	766	$875	$1.14	45d	1	0.18mi
25 S Emerson Ave Indianapolis, IN	1.0	1.0	710	$649	$0.91	45d	1	0.38mi
4 N Butler Ave Unit 11 Indianapolis, IN	2.0	1.0	850	$750	$0.88	6d	1	0.46mi
4 N Butler Ave Unit 8 Indianapolis, IN	2.0	1.0	850	$800	$0.94	45d	1	0.46mi
4926 E Washington St Apt 5 Indianapolis, IN	1.0	1.0	700	$895	$1.28	45d	1	0.49mi
4831 E Washington St Unit 4 Indianapolis, IN	2.0	2.0	1000	$995	$0.99	25d	1	0.49mi
528 S Bosart Ave Indianapolis, IN	3.0	1.0	720	$1,305	$1.81	45d	1	0.50mi
4815 E Washington St Unit 4815-12 Indianapolis, IN	1.0	1.0	700	$950	$1.36	45d	1	0.51mi
4741 E Washington St Indianapolis, IN	1.0	1.0	700	$950	$1.36	23d	1	0.54mi
5250 E Market St Unit 5252 Indianapolis, IN	2.0	1.0	1000	$1,350	$1.35	16d	1	0.54mi
750 S Dequincy St Indianapolis, IN	3.0	1.5	936	$1,500	$1.60	45d	1	0.55mi
306 N Riley Ave Indianapolis, IN	3.0	1.0	1320	$1,095	$0.83	19d	1	0.64mi
25 N Drexel Ave Unit A Indianapolis, IN	3.0	2.0	1250	$1,325	$1.06	45d	1	0.66mi
4318 Spann Ave Indianapolis, IN	3.0	1.0	1411	$1,200	$0.85	45d	1	0.71mi
739 Temperance Ave Indianapolis, IN	3.0	1.0	1136	$1,350	$1.19	45d	1	0.72mi
415 N Dequincy St Indianapolis, IN	3.0	2.0	1250	$1,900	$1.52	16d	1	0.73mi
508 Emerson Ave Indianapolis, IN	3.0	1.5	1094	$1,150	$1.05	16d	1	0.78mi
508 N Emerson Ave Unit 506 Indianapolis, IN	2.0	1.0	950	$950	$1.00	16d	1	0.78mi
29 S Audubon Rd Indianapolis, IN	1.0–2.0	1.0	670	$989	$1.48	16d	5	0.79mi
5105 E North St Indianapolis, IN	2.0	2.0	1180	$2,250	$1.91	45d	1	0.81mi
606 N Emerson Ave Indianapolis, IN	2.0	1.5	1372	$2,450	$1.79	25d	1	0.82mi
4214 E Washington St Indianapolis, IN	3.0	2.0	961	$1,195	$1.24	9d	1	0.83mi
4214 E Washington St Indianapolis, IN	3.0	2.0	961	$1,145	$1.19	0d	1	0.83mi
5750 E Washington St Indianapolis, IN	2.0	1.0	1186	$1,100	$0.93	5d	2	0.88mi
4114 E Washington St Indianapolis, IN	2.0	1.0	909	$1,100	$1.21	46d	1	0.88mi
5819 E Washington St #13 Indianapolis, IN	1.0	1.0	700	$795	$1.14	45d	1	0.89mi
628 N Riley Ave Indianapolis, IN	2.0	1.5	948	$1,295	$1.37	25d	1	0.89mi
338 S Arlington Ave Indianapolis, IN	2.0	2.0	1303	$1,610	$1.24	25d	1	0.93mi
338 S Arlington Ave Apt 204 Indianapolis, IN	2.0	2.0	1303	$1,674	$1.28	16d	1	0.94mi
119 N Grant Ave Indianapolis, IN	3.0	1.0	1408	$1,195	$0.85	45d	1	0.96mi
706 N Bosart Ave Indianapolis, IN	2.0	1.0	1000	$1,070	$1.07	25d	1	0.98mi
729 N Bosart Ave Indianapolis, IN	2.0	1.0	888	$1,195	$1.35	25d	1	1.00mi
622 N Linwood Ave Indianapolis, IN	3.0	2.0	985	$1,299	$1.32	45d	1	1.02mi
3906 Hoyt Ave Indianapolis, IN	2.0	1.0	912	$1,250	$1.37	9d	1	1.03mi
5914 E Washington St Indianapolis, IN	1.0	1.0	700	$825	$1.18	25d	1	1.04mi
775 Dequincy St Indianapolis, IN	1.0	1.0	784	$875	$1.12	25d	1	1.07mi
8 S Bradley Ave Indianapolis, IN	2.0	1.0	1300	$950	$0.73	25d	1	1.07mi

Listing history 5 events

1. 2026-06-07
   statusdays on market $129,900 Pending 33 DOM
2. 2026-06-03
   days on market $129,900 Active 31 DOM
3. 2026-06-02
   pricestatus $129,900 Active 30 DOM
4. 2026-05-18
   price $131,900 557-char remark
5. 2026-04-24
   listed $138,900 Active 557-char remark

ⓘ 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: $2,724 · $227/mo
• Projected year-2 tax: $2,724 · $227/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 ≥102°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: $14,023
• − Mortgage interest: −$7,276
• − Property taxes: −$2,724
• − Insurance: −$650
• − Repairs & maintenance: −$1,122
• − Management: −$1,122
• − Depreciation: −$3,779
• Taxable loss: −$2,649
• Est. tax savings @ 24.0%: +$636
• After-tax cash flow: $166/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): 38,855
• Household income: $60,803
• Rent vs Own: 41.0% rent · 59.0% own
• Severe rent burden: 2191.0

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 54% Black 22% Hispanic / Latino 18% Two or more races 9%
• Hispanic origin (detail): Mexican 10% Puerto Rican 1%
• Common ancestry: Slovak 2% Romanian 2% Lithuanian 2%
• Foreign-born: 10% · Canada
• Languages at home: 85% English-only · Spanish 14%

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: ▼ -199.69%
• Current HPI: 289.8788
• Rent YoY: ▲ 2.63%
• 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

-10.0% since first listed

7 events — show timeline

• 2026-06-17 Sold (MLS) $125,000 MIBOR as Distributed by MLS Grid
• 2026-06-06 Pending — MIBOR as Distributed by MLS Grid
• 2026-06-02 Relisted — MIBOR as Distributed by MLS Grid
• 2026-06-02 Price Changed $129,900 MIBOR as Distributed by MLS Grid
• 2026-05-24 Pending — MIBOR as Distributed by MLS Grid
• 2026-05-18 Price Changed $131,900 MIBOR as Distributed by MLS Grid
• 2026-04-24 Listed $138,900 MIBOR as Distributed by MLS Grid

Property tax history

+49.1%/yr

Latest (2025): $2,724 · +27.7% YoY. Source: county tax records.