3329 Carrollton Ave · Indianapolis city (balance), IN 46205

$315,000

2 bd · 3.0 ba · 1,558 sqft · MultiFamily public records · 29 Days on market

Built 1923 7,231 sqft lot $202/sqft · 505356% above area Est $393k · 20% 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 +11.9/30.0
• Rent growth +4.1/5.0
• 1% rule +3.8/10.0
• DSCR +3.5/10.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.4/10.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks MLS

Location!Location!Location! Excellent Retal income opportunity! Side by Side duplex. You can live one side and rent the other.Roof windows wiring, plumbing,HVAC all 2013. New waterproofing system in the basement. Each side has 3 bedrooms 1 1/2bath plus basement. Front porch and Back deck on both side. right side is currently has tenant, You are welcome to check the left side of the Duplex.

Key facts

• Covered front porch
• Decorative fireplace
• Private rear deck

Tags

• COVERED FRONT PORCH
• LARGE INVITING LIVING ROOM
• DECORATIVE FIREPLACE
• ABUNDANT NATURAL LIGHT
• WELL APPOINTED KITCHEN
• PRIVATE REAR DECK

Property features AI

Finance

• Other: Each unit reports utilities including central air, electric fuel, and gas fuel; Sample monthly rents listed: Unit 1 $1,480; Unit 2 $1,400
• Financial info: Owner pays taxes; Gross income listed as 0; Expenses listed as 0; Property configured as 2 units with a total of 6 bedrooms and 14 rooms

Exterior

• Parking: On-street parking; Alley access; Other parking
• Security: Smoke detector(s)
• Utilities: Solid waste service not indicated
• Home design: Duplex (residential income property); Two stories
• Construction: Vinyl siding; Block foundation
• Exterior features: Sidewalks; Mature trees; Low-maintenance yard not indicated

Interior

• Kitchen: Each unit has a kitchen (listed size 12 x 15)
• Bedrooms: Two 3-bedroom units (each unit listed as 3 Bedroom)
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: Unfinished basement; Central air; Forced air heating; Smoke detectors
• Laundry & utility: Laundry in basement

What this means for you Summary

Snapshot

• This is a 2 × 3.0-bed/1.5-bath units multifamily listed at $315k.

Deal economics

• At list price, monthly cash flow is $-83 ($-993/yr) — negative. Per door: $-41/mo.
• To cash-flow at today's rent, offer at most $300k (4.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $277k (12.0% below list).
• Recommended offer: $277k (12.0% below list) — sets the bar for 1% rule.
• Cap rate 6.0% 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.
• Zoned schools: Center For Inquiry School 27 (math 25% / reading 29%, grade F, #737 of 994 statewide, top 76%, 525 students, 51% FRL); H L Harshman Middle School (math 3% / reading 16%, grade F, #316 of 330 statewide, top 96%, 549 students, 84% FRL); Arsenal Technical High School (math 6% / reading 27%, grade F, #353 of 369 statewide, top 96%, 2,366 students, 74% FRL).
• Market conditions: Rents rising fast (+6.2%/yr); 317 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); 1,906 units permitted in Marion County in 2024 (621 in 5+ unit buildings).
• At $2,772/mo this rent would consume 46% of the median local household income ($72k/yr) (locally 1149% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $9k 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 29 days — a 2% lower offer ($310k) is reasonable based on typical stale-listing flexibility.
• 10 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 $215k; 47% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1923 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $277,200 (12.0% 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. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1923 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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.
8. 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.
9. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 0.88% ✗
• Cap rate: 5.98%
• Cash-on-cash: -1.13%
• DSCR: 0.95
• GRM: 9.5

CMA / ARV

• ARV (median comp): $392,974
• List price: $315,000
• Delta: -19.84%
• Verdict: UNDERPRICED
• Comps: 10 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 6.21% rent growth · sell at horizon

5-year hold

• IRR: -14.4%
• Equity multiple: 0.47×
• Total profit: $-46,974
• Equity at exit: $46,968

10-year hold

• IRR: -1.0%
• Equity multiple: 0.92×
• Total profit: $-6,776
• Equity at exit: $27,235

Cash invested: $88,200 (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 46205

• Rents YoY: 6.2%
• Active inventory: 317
• Price-to-rent: 18.9×

Monthly cashflow live

• Estimated rent: $2,772 high
• Mortgage (P&I): −$1,652
• Tax from tax record: −$490 /mo · $5,874/yr
• Insurance: −$131
• HOA: −$0
• Vacancy / Maint / Mgmt: −$582
• Net cashflow: $-83

Break-even live

Break-even rent $2,877

Max offer price $300,379

Occupancy floor 98%

Sensitivity live

Price	-10% $96	-5% $6	+0% $-83	+5% $-172	+10% $-261
Rent	-10% $-302	-5% $-192	+0% $-83	+5% $27	+10% $136
Rate	-1.0pp $76	-0.5pp $-3	base $-83	+0.5pp $-164	+1.0pp $-247

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	3.0	1.5	$2,772
Total (2 units)			$2,772

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: $78,750
• Closing costs: $9,450
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
728 E 34th St Indianapolis, IN	3.0	1.0	1491	$1,400	$0.94	6d	1	0.07mi
728 E 34th St Indianapolis, IN	3.0	1.0	1491	$1,400	$0.94	21d	1	0.07mi
3359 N College Ave Indianapolis, IN	2.0	1.5	1450	$1,795	$1.24	12d	1	0.09mi
3359 N College Ave Unit 3359 Indianapolis, IN	2.0	1.5	1082	$1,895	$1.75	25d	1	0.09mi
3370 N College Ave Indianapolis, IN	3.0	1.0	1680	$1,275	$0.76	4d	1	0.13mi
3365 Broadway St Indianapolis, IN	3.0	2.0	1300	$1,700	$1.31	45d	1	0.15mi
3509 Guilford Ave Indianapolis, IN	3.0	1.5	1351	$1,445	$1.07	16d	1	0.21mi
3530 Guilford Ave Indianapolis, IN	3.0	2.0	1426	$1,500	$1.05	0d	1	0.23mi
3476 Birchwood Ave Indianapolis, IN	3.0	1.5	1420	$1,625	$1.14	25d	1	0.27mi
3203 Sutherland Ave Unit 1310761P Indianapolis, IN	2.0	1.0	1097	$3,668	$3.34	4d	1	0.28mi
3544 N College Ave Unit 2 Cozy Suite Indianapolis, IN	3.0	2.0	1540	$1,300	$0.84	0d	1	0.28mi
3208 Guilford Ave Indianapolis, IN	3.0	3.0	1800	$1,700	$0.94	14d	1	0.30mi
3141 N Park Ave Indianapolis, IN	3.0	1.0	1390	$1,000	$0.72	45d	1	0.33mi
514 E 33rd St Indianapolis, IN	3.0	1.0	1208	$1,200	$0.99	25d	1	0.33mi
3139 Guilford Ave Indianapolis, IN	3.0	1.0	1068	$1,345	$1.26	45d	1	0.33mi
512 E 33rd St Indianapolis, IN	3.0	1.0	1208	$1,200	$0.99	25d	1	0.34mi
3106 N College Ave Indianapolis, IN	3.0	1.5	1400	$1,700	$1.21	9d	1	0.34mi
3541 Birchwood Ave Indianapolis, IN	3.0	1.0	1400	$1,549	$1.11	14d	1	0.36mi
3110 Guilford Ave Indianapolis, IN	3.0	1.5	1250	$1,295	$1.04	25d	1	0.36mi
3132 Dr Andrew J Brown Ave Indianapolis, IN	2.0	1.0–2.0	791	$2,120	$2.68	3d	46	0.44mi
3558 Central Ave Indianapolis, IN	3.0	1.0	1215	$2,100	$1.73	25d	1	0.46mi
3716 N College Ave Unit 3 Indianapolis, IN	2.0	2.0	1100	$1,450	$1.32	45d	1	0.49mi
2950 Winthrop Ave Indianapolis, IN	3.0	2.0	1224	$1,449	$1.18	45d	1	0.50mi
2960 N Park Ave Indianapolis, IN	3.0	1.5	1400	$1,550	$1.11	0d	1	0.52mi
2960 N Park Ave Indianapolis, IN	3.0	2.0	1400	$1,595	$1.14	45d	1	0.52mi
2960 N Park Ave Indianapolis, IN	3.0	1.5	1400	$1,550	$1.11	25d	1	0.52mi
2958 N Park Ave Unit 2958 Indianapolis, IN	3.0	1.5	1350	$1,450	$1.07	4d	1	0.53mi
321 E 31st St Indianapolis, IN	3.0	1.0	1390	$1,400	$1.01	45d	1	0.57mi
3554 Washington Blvd Indianapolis, IN	1.0	1.0	1714	$750	$0.44	25d	1	0.57mi
2950 Ruckle St Indianapolis, IN	3.0	1.0	1450	$1,300	$0.90	45d	1	0.57mi
2920 Ruckle St Indianapolis, IN	3.0	1.5	1272	$1,700	$1.34	0d	1	0.63mi
2920 Ruckle St Indianapolis, IN	3.0	1.5	1272	$1,700	$1.34	9d	1	0.63mi
3851 Broadway St Indianapolis, IN	3.0	1.0	1513	$1,950	$1.29	19d	1	0.66mi
2830 N Park Ave Indianapolis, IN	2.0	3.0	1500	$1,600	$1.07	45d	1	0.66mi
2751 Guilford Ave Unit A Indianapolis, IN	3.0	2.0	1250	$1,750	$1.40	0d	1	0.69mi
2751 Guilford Ave Unit Aunit Indianapolis, IN	3.0	2.0	1250	$1,750	$1.40	45d	1	0.69mi
2751 Guilford Ave Unit B Indianapolis, IN	3.0	2.0	1250	$1,750	$1.40	15d	1	0.69mi
3004 N Delaware St Indianapolis, IN	3.0	1.5	1600	$1,549	$0.97	0d	1	0.72mi
2955 N Delaware St Indianapolis, IN	3.0	1.5	1400	$1,600	$1.14	45d	1	0.73mi
1902 E 35th St Indianapolis, IN	3.0	1.0	1100	$1,600	$1.45	45d	1	0.75mi

Listing history 30 events

1. 2026-06-10
   status $315,000 Pending 29 DOM
2. 2026-06-09
   days on market $315,000 Active 29 DOM
3. 2026-06-08
   days on market $315,000 Active 28 DOM
4. 2026-06-07
   pricedays on market $315,000 Active 27 DOM
5. 2026-06-03
   days on market $325,000 Active 23 DOM
6. 2026-06-02
   days on market $325,000 Active 22 DOM
7. 2026-06-01
   days on market $325,000 Active 21 DOM
8. 2026-05-31
   days on market $325,000 Active 20 DOM
9. 2026-05-04
   listed $325,000 Active 1355-char remark
10. 2020-10-19
    soldstatus $215,000 Sold 392-char remark

    Show marketing remark (392 chars)

    Location!Location!Location! Excellent Retal income opportunity! Side by Side duplex. You can live one side and rent the other.Roof windows wiring, plumbing,HVAC all 2013. New waterproofing system in the basement. Each side has 3 bedrooms 1 1/2bath plus basement. Front porch and Back deck on both side. right side is currently has tenant, You are welcome to check the left side of the Duplex.

11. 2020-09-11
    status Pending 392-char remark

    Show marketing remark (392 chars)

    Location!Location!Location! Excellent Retal income opportunity! Side by Side duplex. You can live one side and rent the other.Roof windows wiring, plumbing,HVAC all 2013. New waterproofing system in the basement. Each side has 3 bedrooms 1 1/2bath plus basement. Front porch and Back deck on both side. right side is currently has tenant, You are welcome to check the left side of the Duplex.

12. 2020-08-31
    status Pending 392-char remark

    Show marketing remark (392 chars)

    Location!Location!Location! Excellent Retal income opportunity! Side by Side duplex. You can live one side and rent the other.Roof windows wiring, plumbing,HVAC all 2013. New waterproofing system in the basement. Each side has 3 bedrooms 1 1/2bath plus basement. Front porch and Back deck on both side. right side is currently has tenant, You are welcome to check the left side of the Duplex.

13. 2020-08-26
    listed $219,900 Active 392-char remark

    Show marketing remark (392 chars)

    Location!Location!Location! Excellent Retal income opportunity! Side by Side duplex. You can live one side and rent the other.Roof windows wiring, plumbing,HVAC all 2013. New waterproofing system in the basement. Each side has 3 bedrooms 1 1/2bath plus basement. Front porch and Back deck on both side. right side is currently has tenant, You are welcome to check the left side of the Duplex.

14. 2019-01-11
    historical
15. 2018-12-04
    listed $850 Active
16. 2017-03-15
    soldstatus $113,000 Sold
17. 2017-01-13
    historical Active with Contingency
18. 2017-01-10
    listed $113,000 Active
19. 2013-04-29
    historical
20. 2013-04-29
    soldstatus $5,000
21. 2012-04-12
    listed $9,900
22. 2012-01-28
    historical
23. 2011-10-26
    listed $29,900
24. 2011-09-21
    historical
25. 2011-08-23
    listed $12,500
26. 2006-03-08
    soldstatus $49,500
27. 2006-02-22
    historical
28. 2006-01-20
    listed $57,900
29. 2005-08-22
    listed $100,000
30. 2001-03-01
    soldstatus $96,092

ⓘ 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: $5,874 · $490/mo
• Projected year-2 tax: $5,874 · $490/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 6/10 Major FEMA zone X (unshaded) · 75% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥101°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: $33,264
• − Mortgage interest: −$17,645
• − Property taxes: −$5,874
• − Insurance: −$1,575
• − Repairs & maintenance: −$2,661
• − Management: −$2,661
• − Depreciation: −$9,164
• Taxable loss: −$6,316
• Est. tax savings @ 24.0%: +$1,516
• After-tax cash flow: $523/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): 28,259
• Household income: $72,417
• Rent vs Own: 46.3% rent · 53.7% own
• Severe rent burden: 1149.0

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 0.64)
• Race & ethnicity: White 50% Black 32% Two or more races 10% Hispanic / Latino 7% Asian 3%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Italian 3% Slovak 2% Romanian 2%
• Foreign-born: 5% · Canada
• Languages at home: 89% English-only · Spanish 6% Other Indo-European 2% German/W. Germanic 1%

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: ▼ -322.77%
• Current HPI: 380.5407
• Rent YoY: ▲ 6.21%
• 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

+227.8% since first listed

26 events — show timeline

• 2026-06-09 Pending — MIBOR as Distributed by MLS Grid
• 2026-06-06 Price Changed $315,000 MIBOR as Distributed by MLS Grid
• 2026-05-27 Relisted — MIBOR as Distributed by MLS Grid
• 2026-05-20 Pending — MIBOR as Distributed by MLS Grid
• 2026-05-04 Listed $325,000 MIBOR as Distributed by MLS Grid
• 2020-10-19 Sold (MLS) $215,000 MIBOR as Distributed by MLS Grid
• 2020-09-11 Pending — MIBOR as Distributed by MLS Grid
• 2020-08-31 Pending — MIBOR as Distributed by MLS Grid
• 2020-08-26 Listed $219,900 MIBOR as Distributed by MLS Grid
• 2019-01-11 Listing Removed — MIBOR as Distributed by MLS Grid
• 2018-12-04 Listed $850 MIBOR as Distributed by MLS Grid
• 2017-03-15 Sold (MLS) $113,000 MIBOR as Distributed by MLS Grid
• 2017-01-13 Contingent — MIBOR as Distributed by MLS Grid
• 2017-01-10 Listed $113,000 MIBOR as Distributed by MLS Grid
• 2013-04-29 Listing Removed — MIBOR as Distributed by MLS Grid
• 2013-04-29 Sold (MLS) $5,000 MIBOR as Distributed by MLS Grid
• 2012-04-12 Listed $9,900 MIBOR as Distributed by MLS Grid
• 2012-01-28 Listing Removed — MIBOR as Distributed by MLS Grid
• 2011-10-26 Listed $29,900 MIBOR as Distributed by MLS Grid
• 2011-09-21 Listing Removed — MIBOR as Distributed by MLS Grid
• 2011-08-23 Listed $12,500 MIBOR as Distributed by MLS Grid
• 2006-03-08 Sold (MLS) $49,500 MIBOR as Distributed by MLS Grid
• 2006-02-22 Listing Removed — MIBOR as Distributed by MLS Grid
• 2006-01-20 Listed $57,900 MIBOR as Distributed by MLS Grid
• 2005-08-22 Listed $100,000 MIBOR as Distributed by MLS Grid
• 2001-03-01 Sold (Public Records) $96,092 Public Records

Property tax history

+8.5%/yr

Latest (2025): $5,874 · +2.2% YoY. Source: county tax records.