4205 English Ave · Indianapolis city (balance), IN 46201

$105,000

1 bd · 4.0 ba · 600 sqft · MultiFamily public records · 3 Days on market

Built 1940 5,401 sqft lot

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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 +9.6/10.0
• ARV discount +7.5/15.0
• Rent growth +4.3/5.0
• 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

Investor special with endless potential! This duplex is the perfect opportunity for investors looking to add to their portfolio or buyers ready to create their own vision. Each unit offers great layout potential and solid bones, making it ideal for renovation and customization. Whether you're looking to renovate and rent, live in one side while generating income from the other, or completely transform the property into your dream space, the possibilities are endless. Conveniently located near bus line, park and schools. Bring your ideas and unlock the value this property has to offer! AS-IS Each unit is 1 bedroom / 1 bathroom.

Key facts

• 5,401 sq ft lot
• 2 garage spots
• Built 1940

Tags

• CONVENIENTLY LOCATED NEAR PARK

Property features AI

Finance

• Financial info: Gross income and expenses currently listed as $0

Exterior

• Parking: Detached 2-car garage
• Utilities: Municipal solid waste service available
• Home design: Duplex (residential income property)
• Construction: Lot size about 0.12 acre
• Exterior features: Low-maintenance yard (not designated low-maintenance lifestyle); Vacant current use; Road access: Not applicable

Interior

• Bedrooms: Two 1-bedroom units
• Interior features: Unfinished basement; One-level living

What this means for you Summary

Snapshot

• This is a 2 × 1-bed/1-bath units multifamily listed at $105k.

Deal economics

• At list price, monthly cash flow is $532 ($6k/yr) — positive. Per door: $266/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $105k).
• Cap rate 12.4% 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 rising fast (+7.3%/yr); 483 active listings in the ZIP; 25 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 48% 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).
• This rent runs 37% 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 $726 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 + 7.3% rent growth), your $29k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1940 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $105,000

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1940 — 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. 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 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: 1.46% ✓
• Cap rate: 12.38%
• Cash-on-cash: 21.73%
• DSCR: 1.97
• GRM: 5.7

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 7.31% rent growth · sell at horizon

5-year hold

• IRR: 19.0%
• Equity multiple: 1.81×
• Total profit: $23,842
• Equity at exit: $15,656

10-year hold

• IRR: 30.1%
• Equity multiple: 4.25×
• Total profit: $95,601
• Equity at exit: $9,078

Cash invested: $29,400 (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: 11.4×

Monthly cashflow live

• Estimated rent: $1,537 high
• Mortgage (P&I): −$551
• Tax from tax record: −$87 /mo · $1,050/yr
• Insurance: −$44
• HOA: −$0
• Vacancy / Maint / Mgmt: −$323
• Net cashflow: $532

Break-even live

Break-even rent $863

Max offer price $105,000

Occupancy floor 60%

Sensitivity live

Price	-10% $592	-5% $562	+0% $532	+5% $503	+10% $473
Rent	-10% $411	-5% $472	+0% $532	+5% $593	+10% $654
Rate	-1.0pp $585	-0.5pp $559	base $532	+0.5pp $505	+1.0pp $477

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

Units	Beds	Baths	Est. rent
▸ 2× units	1	1	$1,536
Total (2 units)			$1,537

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: $26,250
• Closing costs: $3,150
• Reserves months: —
• Total cash needed: —

Rent comps 25 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
648 Dayton Ave Indianapolis, IN	1.0	1.0	450	$750	$1.67	15d	1	0.37mi
37 S Sherman Dr Indianapolis, IN	1.0	1.0	700	$800	$1.14	24d	1	0.64mi
4741 E Washington St Indianapolis, IN	1.0	1.0	700	$950	$1.36	22d	1	0.74mi
4815 E Washington St Unit 4815-12 Indianapolis, IN	1.0	1.0	700	$950	$1.36	44d	1	0.79mi
4815 E Washington St Unit 4815-10 Indianapolis, IN	1.0	1.0	600	$950	$1.58	22d	1	0.79mi
4815 E Washington St Unit 4815-04 Indianapolis, IN	1.0	1.0	600	$895	$1.49	44d	1	0.79mi
4926 E Washington St Apt 5 Indianapolis, IN	1.0	1.0	700	$895	$1.28	44d	1	0.88mi
3022 English Ave Unit 3022 Indianapolis, IN	2.0	1.0	600	$650	$1.08	44d	1	0.91mi
320 N Sherman Dr Indianapolis, IN	—	1.0	750	$525	$0.70	44d	1	0.94mi
320 N Sherman Dr Unit A Indianapolis, IN	—	1.0	450	$525	$1.17	5d	1	0.94mi
25 S Emerson Ave Indianapolis, IN	1.0	1.0	710	$649	$0.91	44d	1	0.96mi
412 N Bradley Ave Unit 3 Indianapolis, IN	2.0	1.0	700	$950	$1.36	24d	1	0.99mi
5143 E Washington St Apt 102 Indianapolis, IN	1.0	1.0	630	$850	$1.35	44d	1	1.04mi
5143 E Washington St Apt 101 Indianapolis, IN	1.0	1.0	600	$800	$1.33	44d	1	1.04mi
222 S Downey Ave Apt 421 Indianapolis, IN	—	1.0	500	$919	$1.84	44d	1	1.08mi
222 S Downey Ave Unit 405 Indianapolis, IN	—	1.0	412	$971	$2.36	44d	1	1.08mi
4 N Butler Ave Unit 2 Indianapolis, IN	1.0	1.0	500	$675	$1.35	24d	1	1.10mi
5230 E Washington St Indianapolis, IN	1.0	1.0	463	$804	$1.74	3d	6	1.15mi
5230 E Washington St Indianapolis, IN	1.0	1.0	463	$819	$1.77	11d	6	1.15mi
49 S Rural St Indianapolis, IN	2.0	1.5	750	$950	$1.27	11d	1	1.18mi
833 N Gladstone Ave Indianapolis, IN	1.0	1.0	687	$825	$1.20	24d	1	1.28mi
821 N Bradley Ave Indianapolis, IN	1.0	1.0	663	$850	$1.28	5d	1	1.29mi
415 N Oxford St Indianapolis, IN	1.0	1.0	580	$650	$1.12	24d	1	1.34mi
896 N Gladstone Ave Indianapolis, IN	1.0	1.0	580	$775	$1.34	44d	1	1.38mi
927 N Chester Ave Indianapolis, IN	1.0	1.0	596	$750	$1.26	44d	1	1.38mi

Listing history 2 events

1. 2026-05-10
   status Pending
2. 2026-05-07
   listed $105,000 Active

ⓘ 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: $1,050 · $87/mo
• Projected year-2 tax: $1,050 · $87/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 4/10 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: $18,444
• − Mortgage interest: −$5,882
• − Property taxes: −$1,050
• − Insurance: −$525
• − Repairs & maintenance: −$1,476
• − Management: −$1,476
• − Depreciation: −$3,055
• Taxable income: $4,982
• Est. tax owed @ 24.0%: −$1,196
• After-tax cash flow: $5,193/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

2 events — show timeline

• 2026-05-10 Pending — MIBOR as Distributed by MLS Grid
• 2026-05-07 Listed $105,000 MIBOR as Distributed by MLS Grid

Property tax history

+6.5%/yr

Latest (2025): $1,050 · -9.1% YoY. Source: county tax records.