561 W 13th St · Indianapolis city (balance), IN 46202

$209,000

3 bd · 2.0 ba · 1,625 sqft · SingleFamily public records · 184 Days on market

Built 1957 7,405 sqft lot $129/sqft · 14% below area Est $244k · 14% 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).

• Cash flow +16.8/30.0
• ARV discount +14.0/15.0
• DSCR +5.2/10.0
• 1% rule +4.6/10.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Rent growth +2.4/5.0
• Schools +1.4/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

The Primary Bedroom is the largest of the three. Bedroom 2nd is a suite with full bath attached. Property is part of an improving neighborhood with new apartment complexes under construction on a major N/S throughfare just a stone's throw away. Historic Crispus Attucks High School, an Early College High School, is just two blocks away. A leisure walk or bike ride to the many attractions of the CBD: Shopping, restaurants, sport venues, theatres plus the sprawling campus of Indiana University-Indianapolis. Roof, windows, washer, dryer and water heater are 4 years old or less. A must see home!

Key facts

• 7,405 sq ft lot
• Garage
• Built 1957

Tags

• NEW APARTMENT COMPLEXES

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $209k.

Deal economics

• At list price, monthly cash flow is $136 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $201k (3.7% below list).
• Recommended offer: $184k (12.0% below list) — sets the bar for market timing.
• Cap rate 7.1% 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.
• Market conditions: Rents soft (-0.4%/yr); 266 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 19d 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 38% of the median local income ($64k/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 $1k of loan paydown is wiped out by about $6k 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 184 days — a 12% lower offer ($184k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 17y ago; this cycle's ask has dropped $31k (13%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $30k; list at $209k implies a 597% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1957 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $183,920 (12.0% below list)

Questions for the listing agent

1. It's been on market 184 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 1957 — 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. 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: 0.96% ✗
• Cap rate: 7.07%
• Cash-on-cash: 2.78%
• DSCR: 1.12
• GRM: 8.7

CMA / ARV

• ARV (median comp): $244,173
• List price: $209,000
• Delta: -14.41%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 11 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1202 Brooks St	0.16mi	2/1.0 (-1)	1,654 (+2%)	17mo	$170,000	$103	66
1239 Brooks St	0.10mi	2/2.0 (-1)	1,502 (-8%)	15mo	$139,900	$93	65
1719 Rembrandt St	0.69mi	3/2.5	1,654 (+2%)	14mo	$370,000	$224	51
1209 Fall Creek Pkwy Dr E	0.19mi	3/2.0	1,388 (-15%)	20mo	$205,000	$148	50
1715 Rembrandt St	0.68mi	4/3.0 (+1)	1,646 (+1%)	15mo	$381,000	$231	44
1720 Rembrandt St	0.71mi	3/2.0	1,776 (+9%)	10mo	$283,000	$159	43
1842 Milburn St	0.70mi	3/2.5	1,772 (+9%)	14mo	$342,500	$193	39
829 Camp St	0.41mi	3/2.5	1,860 (+14%)	20mo	$345,000	$185	38
1724 Milburn St	0.61mi	3/1.0	1,764 (+9%)	20mo	$162,000	$92	36
928 Fayette St	0.36mi	4/3.0 (+1)	1,865 (+15%)	18mo	$425,000	$228	35
1056 W 18th St	0.67mi	2/2.5 (-1)	1,760 (+8%)	23mo	$330,000	$188	28

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 · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -15.3%
• Equity multiple: 0.47×
• Total profit: $-31,078
• Equity at exit: $31,163

10-year hold

• IRR: -13.0%
• Equity multiple: 0.34×
• Total profit: $-38,567
• Equity at exit: $18,071

Cash invested: $58,520 (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 46202

• Home prices YoY: -26.2%
• Rents YoY: -0.4%
• Active inventory: 266
• Price-to-rent: 8.7×

Monthly cashflow live

• Estimated rent: $2,012 high
• Mortgage (P&I): −$1,096
• Tax from tax record: −$271 /mo · $3,249/yr
• Insurance: −$87
• HOA: −$0
• Vacancy / Maint / Mgmt: −$423
• Net cashflow: $136

Break-even live

Break-even rent $1,840

Max offer price $209,000

Occupancy floor 88%

Sensitivity live

Price	-10% $254	-5% $195	+0% $136	+5% $77	+10% $17
Rent	-10% $-23	-5% $56	+0% $136	+5% $215	+10% $295
Rate	-1.0pp $241	-0.5pp $189	base $136	+0.5pp $82	+1.0pp $27

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: $52,250
• Closing costs: $6,270
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1226 Doctor Martin Luther King Junior St Indianapolis, IN	1.0–3.0	1.0–3.5	1067	$2,285	$2.14	2d	10	0.13mi
1401 Doctor Martin Luther King Junior St Indianapolis, IN	1.0–2.0	1.0	982	$1,875	$1.91	14d	1	0.17mi
930 W 10th St Indianapolis, IN	1.0–4.0	1.0–4.0	874	$3,144	$3.59	5d	1	0.28mi
936 Camp St Indianapolis, IN	3.0	2.0	1334	$2,800	$2.10	5d	1	0.33mi
928 Camp St Indianapolis, IN	2.0	1.5	1240	$2,000	$1.61	24d	1	0.34mi
1201 Indiana Ave Indianapolis, IN	1.0–3.0	1.0–3.5	967	$2,404	$2.49	2d	36	0.48mi
1449 Montcalm St Indianapolis, IN	3.0	1.0	1300	$1,900	$1.46	44d	1	0.51mi
335 W 9th St Indianapolis, IN	3.0	1.0–3.0	893	$2,750	$3.08	3d	11	0.53mi
1037 W 18th St Indianapolis, IN	2.0	2.5	1685	$2,500	$1.48	18d	1	0.60mi
1446 N Illinois St Indianapolis, IN	2.0	1.5	1560	$1,850	$1.19	18d	1	0.61mi
733 N Capitol Ave Indianapolis, IN	2.0	2.5	1150	$1,450	$1.26	44d	2	0.72mi
1321 N Meridian St Indianapolis, IN	2.0	1.0–2.0	1013	$1,940	$1.92	4d	92	0.74mi
75 W 18th St Indianapolis, IN	1.0–2.0	1.0–2.0	845	$2,395	$2.83	17d	8	0.76mi
1410 Breedlove Ln Indianapolis, IN	2.0	1.0–2.0	886	$2,557	$2.88	2d	63	0.77mi
902 N Meridian St Indianapolis, IN	2.0	1.0–2.0	937	$1,975	$2.11	8d	7	0.79mi
549 N Senate Ave Unit 2422 Alabama Indianapolis, IN	2.0	1.0	1079	$1,738	$1.61	44d	1	0.79mi
549 N Senate Ave Unit 2216 New Jersey Indianapolis, IN	2.0	1.5	1135	$1,830	$1.61	8d	1	0.79mi
549 N Senate Ave Unit 2331 New Jersey Indianapolis, IN	2.0	1.0	1079	$1,707	$1.58	44d	1	0.79mi
549 N Senate Ave Unit 2430 Alabama Indianapolis, IN	2.0	1.5	1240	$1,840	$1.48	44d	1	0.79mi
923 N Meridian St Indianapolis, IN	2.0	1.0–2.0	822	$1,889	$2.30	2d	15	0.80mi
727 Perth Ln Indianapolis, IN	2.0	2.5	1657	$2,650	$1.60	15d	1	0.83mi
1228 W 18th St Indianapolis, IN	2.0	1.0	1050	$1,200	$1.14	44d	1	0.83mi
1704 N Pennsylvania St Unit B Indianapolis, IN	4.0	1.5	2200	$1,800	$0.82	44d	1	0.84mi
1827 N Meridian St Indianapolis, IN	2.0	1.0–2.0	836	$1,699	$2.03	14d	16	0.87mi
1133 W 21st St Indianapolis, IN	3.0	2.0	1296	$1,495	$1.15	24d	1	0.92mi
1135 W 21st St Indianapolis, IN	3.0	2.0	1296	$1,495	$1.15	24d	1	0.93mi
1645 N Talbott St Indianapolis, IN	2.0	1.0	1230	$1,149	$0.93	24d	1	0.93mi
1473 N Delaware St Indianapolis, IN	2.0	1.5	1572	$1,600	$1.02	15d	1	0.94mi
1920 Sugar Grove Ave Indianapolis, IN	3.0	1.5	1378	$1,175	$0.85	3d	1	0.97mi
2146 Gent Ave Indianapolis, IN	3.0	2.0	1952	$2,000	$1.02	22d	1	1.03mi
2224 N Kenwood Ave Indianapolis, IN	3.0	3.0	1735	$1,950	$1.12	8d	1	1.05mi
613 Fort Wayne Ave Indianapolis, IN	2.0	2.0	1510	$2,395	$1.59	24d	1	1.06mi
1430 N New Jersey St Indianapolis, IN	3.0	3.5	2180	$3,000	$1.38	44d	1	1.07mi
402 N Meridian St Indianapolis, IN	1.0–2.0	1.0–2.0	913	$2,100	$2.30	8d	9	1.08mi
918 Fort Wayne Ave Indianapolis, IN	1.0–3.0	1.0–3.0	1239	$2,500	$2.02	44d	1	1.10mi
2161 N Meridian St Indianapolis, IN	3.0	2.0	1592	$1,800	$1.13	44d	1	1.11mi
2126 N Talbott St Unit 1 Indianapolis, IN	2.0	1.0	1300	$1,435	$1.10	45d	1	1.12mi
2318 N Capitol Ave Indianapolis, IN	3.0	1.0	1440	$1,050	$0.73	44d	1	1.12mi
650 Alabama St Indianapolis, IN	3.0	1.0–2.5	1099	$3,329	$3.03	17d	27	1.12mi
1228 Central Ave Indianapolis, IN	2.0	1.5	1599	$1,950	$1.22	13d	1	1.13mi

Listing history 7 events

1. 2026-05-06
   status Pending 601-char remark

   Show marketing remark (601 chars)

   The Primary Bedroom is the largest of the three. Bedroom 2nd is a suite with full bath attached. Property is part of an improving neighborhood with new apartment complexes under construction on a major N/S throughfare just a stone's throw away. Historic Crispus Attucks High School, an Early College High School, is just two blocks away. A leisure walk or bike ride to the many attractions of the CBD: Shopping, restaurants, sport venues, theatres plus the sprawling campus of Indiana University-Indianapolis. Roof, windows, washer, dryer and water heater are 4 years old or less. A must see home!

2. 2026-02-19
   price $209,000 601-char remark

   Show marketing remark (601 chars)

   The Primary Bedroom is the largest of the three. Bedroom 2nd is a suite with full bath attached. Property is part of an improving neighborhood with new apartment complexes under construction on a major N/S throughfare just a stone's throw away. Historic Crispus Attucks High School, an Early College High School, is just two blocks away. A leisure walk or bike ride to the many attractions of the CBD: Shopping, restaurants, sport venues, theatres plus the sprawling campus of Indiana University-Indianapolis. Roof, windows, washer, dryer and water heater are 4 years old or less. A must see home!

3. 2026-01-06
   price $229,000 601-char remark

   Show marketing remark (601 chars)

   The Primary Bedroom is the largest of the three. Bedroom 2nd is a suite with full bath attached. Property is part of an improving neighborhood with new apartment complexes under construction on a major N/S throughfare just a stone's throw away. Historic Crispus Attucks High School, an Early College High School, is just two blocks away. A leisure walk or bike ride to the many attractions of the CBD: Shopping, restaurants, sport venues, theatres plus the sprawling campus of Indiana University-Indianapolis. Roof, windows, washer, dryer and water heater are 4 years old or less. A must see home!

4. 2025-10-31
   listed $239,900 Active 601-char remark

   Show marketing remark (601 chars)

   The Primary Bedroom is the largest of the three. Bedroom 2nd is a suite with full bath attached. Property is part of an improving neighborhood with new apartment complexes under construction on a major N/S throughfare just a stone's throw away. Historic Crispus Attucks High School, an Early College High School, is just two blocks away. A leisure walk or bike ride to the many attractions of the CBD: Shopping, restaurants, sport venues, theatres plus the sprawling campus of Indiana University-Indianapolis. Roof, windows, washer, dryer and water heater are 4 years old or less. A must see home!

5. 2010-09-16
   historical
6. 2009-11-12
   soldstatus $30,000
7. 2009-06-17
   listed $15,000

ⓘ 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: $3,249 · $271/mo
• Projected year-2 tax: $3,249 · $271/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 ≥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: $24,147
• − Mortgage interest: −$11,707
• − Property taxes: −$3,249
• − Insurance: −$1,045
• − Repairs & maintenance: −$1,932
• − Management: −$1,932
• − Depreciation: −$6,080
• Taxable loss: −$1,798
• Est. tax savings @ 24.0%: +$432
• After-tax cash flow: $2,061/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): 20,180
• Household income: $63,506
• Rent vs Own: 70.6% rent · 29.4% own
• Severe rent burden: 1829.0

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 0.57)
• Race & ethnicity: White 62% Black 20% Hispanic / Latino 8% Asian 6% Two or more races 5%
• Hispanic origin (detail): Mexican 5%
• Common ancestry: Italian 4% Romanian 3% Slovak 3%
• Foreign-born: 11% · Canada, China
• Languages at home: 86% English-only · Spanish 6% Other Indo-European 3% Arabic 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: ▼ -136.75%
• Current HPI: 385.5518
• Rent YoY: ▼ -0.37%
• 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

+1293.3% since first listed

7 events — show timeline

• 2026-05-06 Pending — MIBOR as Distributed by MLS Grid
• 2026-02-19 Price Changed $209,000 MIBOR as Distributed by MLS Grid
• 2026-01-06 Price Changed $229,000 MIBOR as Distributed by MLS Grid
• 2025-10-31 Listed $239,900 MIBOR as Distributed by MLS Grid
• 2010-09-16 Listing Removed — MIBOR as Distributed by MLS Grid
• 2009-11-12 Sold (MLS) $30,000 MIBOR as Distributed by MLS Grid
• 2009-06-17 Listed $15,000 MIBOR as Distributed by MLS Grid

Property tax history

+9.5%/yr

Latest (2025): $3,249 · +20.0% YoY. Source: county tax records.