901 N Parker Ave · Indianapolis city (balance), IN 46201

$150,000

5 bd · 1.0 ba · 1,576 sqft · SingleFamily public records · 68 Days on market

Built 1910 4,617 sqft lot $95/sqft · 16% above area Est $194k · 23% under ↓ 16% 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 +27.2/30.0
• ARV discount +15.0/15.0
• DSCR +9.5/10.0
• 1% rule +8.1/10.0
• 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

Listing remarks MLS

RENTED FOR $1,600/MONTH, this Near Eastside single-family is generating income on day one with a lease in place through June 2026. A well-maintained 3-bed home just minutes from downtown Indianapolis - a straightforward, no-hassle addition to any rental portfolio.

Key facts

• 4,617 sq ft lot
• 2 garage spots
• Built 1910

🏷️ Possibly a rental listed for sale. The $150,000 price doesn't fit this home's estimated sale value (~$194,170) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 5-bed/1.0-bath single-family listed at $150k.

Deal economics

• At list price, monthly cash flow is $431 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $150k).
• Recommended offer: $141k (6.0% below list) — sets the bar for market timing.
• Cap rate 9.7% 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; 8 comparable units currently listed for rent nearby; rentals at typical pace (median 16d on market — plan ~3-4 weeks tenant-placement turnaround); 1,906 units permitted in Marion County in 2024 (621 in 5+ unit buildings).
• At $1,958/mo this rent would consume 48% of the median local household income ($49k/yr) (locally 1906% 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 $1k 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.
• At projected returns (-3.0% appreciation + 7.3% rent growth), your $42k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 68 days — a 6% lower offer ($141k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 4y ago; this cycle's ask has dropped $10k (6%) 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 $141,000 (6.0% below list)

Questions for the listing agent

1. It's been on market 68 days. Have you received any prior offers? Is the seller open to a 6% 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: 1.31% ✓
• Cap rate: 9.74%
• Cash-on-cash: 12.31%
• DSCR: 1.55
• GRM: 6.4

CMA / ARV

• ARV (median comp): $194,170
• List price: $150,000
• Delta: -22.75%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
844 N Parker Ave	0.04mi	4/2.5 (-1)	1,552 (-2%)	14mo	$264,000	$170	73
624 N Rural St	0.24mi	5/2.5	1,779 (+13%)	17mo	$149,900	$84	47
2919 E New York St	0.55mi	4/1.0 (-1)	1,444 (-8%)	16mo	$95,000	$66	42
1215 N Ewing St	0.59mi	4/2.5 (-1)	1,642 (+4%)	16mo	$260,000	$158	41
416 Eastern Ave	0.48mi	4/2.5 (-1)	1,720 (+9%)	16mo	$270,000	$157	38
325 N Tacoma Ave	0.57mi	4/2.5 (-1)	1,720 (+9%)	21mo	$290,000	$169	30

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 · 7.31% rent growth · sell at horizon

5-year hold

• IRR: 7.0%
• Equity multiple: 1.29×
• Total profit: $12,061
• Equity at exit: $22,365

10-year hold

• IRR: 20.0%
• Equity multiple: 3.04×
• Total profit: $85,877
• Equity at exit: $12,969

Cash invested: $42,000 (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: 6.4×

Monthly cashflow live

• Estimated rent: $1,958 high
• Mortgage (P&I): −$787
• Tax from tax record: −$267 /mo · $3,201/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$411
• Net cashflow: $431

Break-even live

Break-even rent $1,413

Max offer price $150,000

Occupancy floor 73%

Sensitivity live

Price	-10% $516	-5% $473	+0% $431	+5% $388	+10% $346
Rent	-10% $276	-5% $353	+0% $431	+5% $508	+10% $585
Rate	-1.0pp $506	-0.5pp $469	base $431	+0.5pp $392	+1.0pp $352

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: $37,500
• Closing costs: $4,500
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
849 N Oakland Ave Indianapolis, IN	4.0	3.0	1638	$2,350	$1.43	13d	1	0.09mi
1036 N Parker Ave Indianapolis, IN	4.0	2.0	1342	$1,745	$1.30	5d	1	0.16mi
1038 N Parker Ave Indianapolis, IN	4.0	2.0	1342	$1,745	$1.30	5d	1	0.17mi
645 N Oxford St Indianapolis, IN	4.0	1.5	1344	$1,500	$1.12	24d	1	0.18mi
210 N Keystone Ave Indianapolis, IN	4.0	2.0	2024	$2,200	$1.09	8d	1	0.81mi
3710 E Market St Indianapolis, IN	6.0	1.0	1232	$1,450	$1.18	15d	1	0.83mi
2224 Langley Ave Indianapolis, IN	4.0	2.0	1513	$1,595	$1.05	44d	1	1.00mi
29 N Walcott St Indianapolis, IN	4.0	3.0	2200	$2,400	$1.09	44d	1	1.19mi

Listing history 20 events

1. 2026-06-21
   days on market $150,000 Active 68 DOM
2. 2026-06-18
   days on market $150,000 Active 65 DOM
3. 2026-06-17
   days on market $150,000 Active 64 DOM
4. 2026-06-16
   days on market $150,000 Active 63 DOM
5. 2026-06-15
   days on market $150,000 Active 62 DOM
6. 2026-06-13
   days on market $150,000 Active 60 DOM
7. 2026-06-13
   days on market $150,000 Active 59 DOM
8. 2026-06-09
   days on market $150,000 Active 56 DOM
9. 2026-06-08
   days on market $150,000 Active 55 DOM
10. 2026-06-07
    days on market $150,000 Active 54 DOM
11. 2026-06-03
    days on market $150,000 Active 50 DOM
12. 2026-06-02
    days on market $150,000 Active 49 DOM
13. 2026-06-01
    days on market $150,000 Active 48 DOM
14. 2026-05-31
    days on market $150,000 Active 47 DOM
15. 2026-05-14
    status Active 264-char remark

    Show marketing remark (264 chars)

    RENTED FOR $1,600/MONTH, this Near Eastside single-family is generating income on day one with a lease in place through June 2026. A well-maintained 3-bed home just minutes from downtown Indianapolis - a straightforward, no-hassle addition to any rental portfolio.

16. 2026-05-01
    status Pending 264-char remark

    Show marketing remark (264 chars)

    RENTED FOR $1,600/MONTH, this Near Eastside single-family is generating income on day one with a lease in place through June 2026. A well-maintained 3-bed home just minutes from downtown Indianapolis - a straightforward, no-hassle addition to any rental portfolio.

17. 2026-04-01
    listed $160,000 Active 264-char remark

    Show marketing remark (264 chars)

    RENTED FOR $1,600/MONTH, this Near Eastside single-family is generating income on day one with a lease in place through June 2026. A well-maintained 3-bed home just minutes from downtown Indianapolis - a straightforward, no-hassle addition to any rental portfolio.

18. 2023-06-11
    historical
19. 2022-12-10
    historical
20. 2022-10-13
    listed $190,000 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: $3,201 · $267/mo
• Projected year-2 tax: $3,201 · $267/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: $23,493
• − Mortgage interest: −$8,402
• − Property taxes: −$3,201
• − Insurance: −$750
• − Repairs & maintenance: −$1,879
• − Management: −$1,879
• − Depreciation: −$4,364
• Taxable income: $3,016
• Est. tax owed @ 24.0%: −$724
• After-tax cash flow: $4,444/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

-15.8% since first listed

6 events — show timeline

• 2026-05-14 Relisted — MIBOR as Distributed by MLS Grid
• 2026-05-01 Pending — MIBOR as Distributed by MLS Grid
• 2026-04-01 Listed $160,000 MIBOR as Distributed by MLS Grid
• 2023-06-11 Rental Removed — RENT.
• 2022-12-10 Listing Removed — MIBOR as Distributed by MLS Grid
• 2022-10-13 Listed $190,000 MIBOR as Distributed by MLS Grid

Property tax history

+11.2%/yr

Latest (2025): $3,201 · +40.7% YoY. Source: county tax records.