2806 N Denny St · Indianapolis city (balance), IN 46218

$110,900

4 bd · 1.0 ba · 2,452 sqft · SingleFamily public records · 208 Days on market

Built 1910 0.33 ac lot Est $115k · at est. ↓ 24% since listing

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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
• DSCR +10.0/10.0
• 1% rule +9.4/10.0
• ARV discount +9.2/15.0
• Rent growth +2.7/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.4/10.0
• Appreciation +0.0/10.0

Listing remarks

Excellent investment opportunity with this home to make it yours however you wish. This amazing opportunity is sold AS-IS.

Key facts

• 0.33 acre lot
• Built 1910
• Listed 208 days

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $111k.

Deal economics

• At list price, monthly cash flow is $492 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $111k).
• Recommended offer: $98k (12.0% below list) — sets the bar for market timing.
• Cap rate 11.6% 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 flat; 336 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); lower-income renter base — watch delinquency; 1,906 units permitted in Marion County in 2024 (621 in 5+ unit buildings).
• At $1,592/mo this rent would consume 50% of the median local household income ($38k/yr) (locally 2340% 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 $767 of loan paydown is wiped out by about $3k 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 + 0.8% rent growth), your $31k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 208 days — a 12% lower offer ($98k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts; this cycle's ask has dropped $59k (35%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1910 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $97,592 (12.0% below list)

Questions for the listing agent

1. It's been on market 208 days. Have you received any prior offers? Is the seller open to a 12% 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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 1.44% ✓
• Cap rate: 11.61%
• Cash-on-cash: 19.00%
• DSCR: 1.85
• GRM: 5.8

CMA / ARV

• ARV (on-the-fly): $115,244
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2806 N Denny St	0.00mi	4/1.5	2,454 (+0%)	1mo	$115,900	$47	97
2717 Station St	0.17mi	5/2.0 (+1)	2,356 (-4%)	4mo	$94,900	$40	74
2429 Adams St	0.50mi	4/2.0	2,470 (+1%)	5mo	$80,000	$32	68
2955 N Olney St	0.38mi	3/1.0 (-1)	2,550 (+4%)	5mo	$75,000	$29	67
2950 N Gale St	0.33mi	3/2.0 (-1)	2,368 (-3%)	7mo	$174,000	$73	64
2701 N Gale St	0.26mi	4/2.0	2,745 (+12%)	3mo	$95,000	$35	61
2835 N Gale St	0.24mi	3/1.0 (-1)	2,184 (-11%)	9mo	$101,000	$46	58
2962 Station St	0.29mi	3/1.5 (-1)	2,216 (-10%)	13mo	$174,000	$79	52
2430 Stuart St	0.48mi	4/3.0	2,676 (+9%)	4mo	$220,000	$82	51
3235 Adams St	0.69mi	3/2.0 (-1)	2,152 (-12%)	2mo	$223,000	$104	37
2438 N Gale St	0.37mi	3/2.0 (-1)	2,808 (+14%)	17mo	$204,100	$73	35
2229 Station St	0.53mi	3/2.0 (-1)	2,172 (-11%)	16mo	$100,000	$46	34

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 · 0.81% rent growth · sell at horizon

5-year hold

• IRR: 8.4%
• Equity multiple: 1.32×
• Total profit: $9,932
• Equity at exit: $16,536

10-year hold

• IRR: 15.7%
• Equity multiple: 2.15×
• Total profit: $35,580
• Equity at exit: $9,589

Cash invested: $31,052 (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 46218

• Home prices YoY: -17.1%
• Rents YoY: 0.8%
• Active inventory: 336
• Price-to-rent: 5.8×

Monthly cashflow live

• Estimated rent: $1,592 medium
• Mortgage (P&I): −$582
• Tax est. 1.5%: −$139 /mo · $1,664/yr
• Insurance: −$46
• HOA: −$0
• Vacancy / Maint / Mgmt: −$334
• Net cashflow: $492

Break-even live

Break-even rent $970

Max offer price $110,900

Occupancy floor 64%

Sensitivity live

Price	-10% $568	-5% $530	+0% $492	+5% $453	+10% $415
Rent	-10% $366	-5% $429	+0% $492	+5% $555	+10% $617
Rate	-1.0pp $547	-0.5pp $520	base $492	+0.5pp $463	+1.0pp $434

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: $27,725
• Closing costs: $3,327
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1927 N Dearborn St Indianapolis, IN	3.0	1.0	2182	$1,495	$0.69	45d	1	1.10mi
3615 Sherman Forest Dr Indianapolis, IN	4.0	1.0–2.5	1057	$1,800	$1.70	5d	1	1.37mi
3707 N Riley Ave Indianapolis, IN	3.0	1.5	2016	$1,500	$0.74	24d	1	1.41mi

Listing history 17 events

1. 2026-04-16
   status Pending
2. 2026-04-07
   price $110,900
3. 2026-03-17
   price $115,900
4. 2026-03-12
   status Active
5. 2026-03-04
   historical
6. 2026-02-26
   price $121,900
7. 2026-02-10
   price $126,900
8. 2026-01-22
   price $133,500
9. 2026-01-05
   price $140,500
10. 2025-12-11
    status Active
11. 2025-12-03
    status Pending
12. 2025-11-19
    price $148,000
13. 2025-10-29
    price $155,900
14. 2025-09-16
    price $162,900
15. 2025-09-04
    listed $169,900 Active
16. 2025-06-24
    historical
17. 2025-04-27
    listed $145,000 Active

ⓘ 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 ≥102°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: $19,109
• − Mortgage interest: −$6,212
• − Property taxes: −$1,664
• − Insurance: −$554
• − Repairs & maintenance: −$1,529
• − Management: −$1,529
• − Depreciation: −$3,226
• Taxable income: $4,396
• Est. tax owed @ 24.0%: −$1,055
• After-tax cash flow: $4,845/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): 29,360
• Household income: $38,063
• Rent vs Own: 47.2% rent · 52.8% own
• Severe rent burden: 2340.0

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: Predominantly Black (68%)
• Race & ethnicity: Black 68% White 18% Hispanic / Latino 9% Two or more races 6%
• Hispanic origin (detail): Mexican 6%
• Common ancestry: Romanian 1%
• Foreign-born: 5% · Canada, Philippines
• Languages at home: 92% English-only · Spanish 7%

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: ▼ -81.57%
• Current HPI: 395.7071
• Rent YoY: ▲ 0.81%
• 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

-23.5% since first listed

17 events — show timeline

• 2026-04-16 Pending — MIBOR as Distributed by MLS Grid
• 2026-04-07 Price Changed $110,900 MIBOR as Distributed by MLS Grid
• 2026-03-17 Price Changed $115,900 MIBOR as Distributed by MLS Grid
• 2026-03-12 Relisted — MIBOR as Distributed by MLS Grid
• 2026-03-04 Listing Removed — MIBOR as Distributed by MLS Grid
• 2026-02-26 Price Changed $121,900 MIBOR as Distributed by MLS Grid
• 2026-02-10 Price Changed $126,900 MIBOR as Distributed by MLS Grid
• 2026-01-22 Price Changed $133,500 MIBOR as Distributed by MLS Grid
• 2026-01-05 Price Changed $140,500 MIBOR as Distributed by MLS Grid
• 2025-12-11 Relisted — MIBOR as Distributed by MLS Grid
• 2025-12-03 Pending — MIBOR as Distributed by MLS Grid
• 2025-11-19 Price Changed $148,000 MIBOR as Distributed by MLS Grid
• 2025-10-29 Price Changed $155,900 MIBOR as Distributed by MLS Grid
• 2025-09-16 Price Changed $162,900 MIBOR as Distributed by MLS Grid
• 2025-09-04 Listed $169,900 MIBOR as Distributed by MLS Grid
• 2025-06-24 Listing Removed — MIBOR as Distributed by MLS Grid
• 2025-04-27 Listed $145,000 MIBOR as Distributed by MLS Grid

Property tax history

-3.9%/yr

Latest (2025): $111 · +2.2% YoY. Source: county tax records.