3247 Graceland Ave · Indianapolis city (balance), IN 46208

$95,000

5 bd · 2.0 ba · 1,744 sqft · SingleFamily public records · 5 Days on market

Built 1920 5,271 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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Rent growth +4.1/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.4/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome home to this adorable and move-in-ready property in the popular Crown Hill Neighborhood! You will love the updated kitchen and bathrooms, as well as, all the natural light from the many windows. This home features 5 bedrooms, with 3 upstairs and 2 downstairs on the main level. A wonderful perk to living here is the FREE memberships to both Newfields and the Indianapolis Children's Museum. Conveniently, you'll have a quick drive time to downtown, Midtown, Butler University, highway, parks, restaurants, and more! Book your showing today!

Key facts

• Private yard
• Welcoming porch
• 5,271 sq ft lot

Tags

• SINGLE FAMILY RESIDENCE
• BUNGALOW ARCHITECTURAL STYLE
• PRIVATE YARD
• WELCOMING PORCH

Property features AI

Finance

• Other: Lot size approximately 0.12 acre (<1/4 acre)

Exterior

• Parking: Alley access
• Utilities: Public water; Municipal sewer connected; Solid waste service available
• Home design: Single-family residence; Two levels
• Construction: Vinyl siding; Block foundation
• Exterior features: Partial fencing; Not in a subdivision

Interior

• Kitchen: No appliances included
• Bedrooms: Five bedrooms (2 on the main level, 3 on the upper level); Bedroom sizes include 18x10, 13x13, 15x11, 12x11 (various rooms on main and upper levels)
• Bathrooms: Two full bathrooms (one on main level, one on upper level)
• Heating & cooling: Forced air heating (natural gas); Central air conditioning
• Interior features: Attic access; Unfinished basement
• Laundry & utility: Basement utility space

What this means for you Summary

Snapshot

• This is a 5-bed/2.0-bath single-family listed at $95k.

Deal economics

• At list price, monthly cash flow is $937 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $95k).
• Cap rate 18.1% 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 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 (+6.4%/yr); 279 active listings in the ZIP; 10 comparable units currently listed for rent nearby; rentals at typical pace (median 24d 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 42% of the median local income ($60k/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 $657 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 + 6.4% rent growth), your $27k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• Only 5 days on market — expect competitive offers; lowballing is unlikely to land.
• 10 sale attempts since 23y 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.

Risks & watch-outs

• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $95,000

Questions for the listing agent

1. Built in 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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.
4. 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.
5. 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: 2.22% ✓
• Cap rate: 18.13%
• Cash-on-cash: 42.29%
• DSCR: 2.88
• GRM: 3.8

CMA / ARV

• ARV (on-the-fly): $242,416
• Comps found: 6

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
520 W 28th St	0.67mi	5/2.0	1,734 (-1%)	4mo	$196,500	$113	65
3160 Graceland Ave	0.14mi	4/2.0 (-1)	1,936 (+11%)	13mo	$130,000	$67	59
3341 N Capitol Ave	0.12mi	4/2.0 (-1)	1,562 (-10%)	16mo	$210,000	$134	59
3626 N Capitol Ave	0.47mi	4/2.5 (-1)	1,632 (-6%)	11mo	$261,500	$160	52
3131 Boulevard Pl	0.20mi	4/3.0 (-1)	1,956 (+12%)	12mo	$271,500	$139	51
2701 Boulevard Pl	0.67mi	4/3.0 (-1)	1,558 (-11%)	9mo	$320,000	$205	35

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 · 6.43% rent growth · sell at horizon

5-year hold

• IRR: 43.0%
• Equity multiple: 2.95×
• Total profit: $51,899
• Equity at exit: $14,165

10-year hold

• IRR: 50.7%
• Equity multiple: 6.84×
• Total profit: $155,464
• Equity at exit: $8,214

Cash invested: $26,600 (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 46208

• Rents YoY: 6.4%
• Active inventory: 279
• Price-to-rent: 3.8×

Monthly cashflow live

• Estimated rent: $2,105 high
• Mortgage (P&I): −$498
• Tax from tax record: −$188 /mo · $2,252/yr
• Insurance: −$40
• HOA: −$0
• Vacancy / Maint / Mgmt: −$442
• Net cashflow: $937

Break-even live

Break-even rent $918

Max offer price $95,000

Occupancy floor 50%

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: $23,750
• Closing costs: $2,850
• Reserves months: —
• Total cash needed: —

Rent comps 10 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3160 Graceland Ave Indianapolis, IN	4.0	2.0	1936	$2,000	$1.03	24d	1	0.14mi
3655 N Kenwood Ave Indianapolis, IN	4.0	2.0	1700	$1,700	$1.00	24d	1	0.54mi
3827 Graceland Ave Indianapolis, IN	4.0	2.0	2195	$1,595	$0.73	44d	1	0.73mi
320 W 39th St Indianapolis, IN	4.0	2.0	1216	$2,200	$1.81	7d	1	0.81mi
3128 Broadway St Indianapolis, IN	4.0	1.5	1999	$2,200	$1.10	24d	1	0.84mi
445 W 25th St Indianapolis, IN	4.0	2.0	1500	$1,900	$1.27	44d	1	0.89mi
4117 Byram Ave Indianapolis, IN	4.0	2.0	1540	$1,930	$1.25	44d	1	1.18mi
1331 W 34th St Indianapolis, IN	4.0	2.0	2160	$1,800	$0.83	15d	1	1.29mi
528 W 43rd St Indianapolis, IN	4.0	2.0	2080	$2,750	$1.32	3d	1	1.36mi
731 W 43rd St Indianapolis, IN	4.0	4.0	1600	$3,350	$2.09	18d	1	1.40mi

Listing history 5 events

1. 2026-06-18
   status $95,000 Active 5 DOM
2. 2026-06-07
   statusdays on market $95,000 Pending 5 DOM
3. 2026-06-03
   days on market $95,000 Active 2 DOM
4. 2026-06-01
   remarks 677-char remark
5. 2026-06-01
   listed $95,000 Active 1 DOM

ⓘ 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: $2,252 · $188/mo
• Projected year-2 tax: $2,252 · $188/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: $25,259
• − Mortgage interest: −$5,321
• − Property taxes: −$2,252
• − Insurance: −$475
• − Repairs & maintenance: −$2,021
• − Management: −$2,021
• − Depreciation: −$2,764
• Taxable income: $10,405
• Est. tax owed @ 24.0%: −$2,497
• After-tax cash flow: $8,752/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): 22,379
• Household income: $60,062
• Rent vs Own: 44.1% rent · 55.9% own
• Severe rent burden: 978.0

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 0.62)
• Race & ethnicity: White 46% Black 40% Hispanic / Latino 8% Two or more races 6% Asian 2%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Romanian 2% Slovak 2% Italian 1%
• Foreign-born: 4% · Canada
• Languages at home: 93% English-only · Spanish 5% French/Haitian/Cajun 1% Other Indo-European 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: ▼ -324.63%
• Current HPI: 319.7725
• Rent YoY: ▲ 6.43%
• 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

+322.2% since first listed

28 events — show timeline

• 2026-05-31 Listed $95,000 MIBOR as Distributed by MLS Grid
• 2023-03-09 Sold (MLS) $204,900 MIBOR as Distributed by MLS Grid
• 2023-02-10 Pending — MIBOR as Distributed by MLS Grid
• 2023-01-31 Price Changed $209,900 MIBOR as Distributed by MLS Grid
• 2022-11-16 Listed $215,000 MIBOR as Distributed by MLS Grid
• 2018-05-11 Sold (MLS) $119,900 MIBOR as Distributed by MLS Grid
• 2018-04-08 Pending — MIBOR as Distributed by MLS Grid
• 2018-03-29 Contingent — MIBOR as Distributed by MLS Grid
• 2018-03-27 Listed $119,900 MIBOR as Distributed by MLS Grid
• 2017-12-28 Sold (Public Records) $24,000 Public Records
• 2016-10-03 Sold (Public Records) $16,000 Public Records
• 2016-09-22 Sold (MLS) $16,000 MIBOR as Distributed by MLS Grid
• 2016-09-13 Pending — MIBOR as Distributed by MLS Grid
• 2016-07-19 Price Changed $22,500 MIBOR as Distributed by MLS Grid
• 2016-07-19 Relisted — MIBOR as Distributed by MLS Grid
• 2016-07-16 Listing Removed — MIBOR as Distributed by MLS Grid
• 2016-05-11 Price Changed $30,000 MIBOR as Distributed by MLS Grid
• 2016-04-22 Listed $35,000 MIBOR as Distributed by MLS Grid
• 2016-03-24 Listing Removed — MIBOR as Distributed by MLS Grid
• 2016-01-04 Listed $35,000 MIBOR as Distributed by MLS Grid
• 2014-09-06 Listing Removed — MIBOR as Distributed by MLS Grid
• 2014-03-05 Listed $45,000 MIBOR as Distributed by MLS Grid
• 2013-09-10 Listing Removed — MIBOR as Distributed by MLS Grid
• 2013-05-28 Listed $25,000 MIBOR as Distributed by MLS Grid
• 2003-11-12 Sold (MLS) $16,500 MIBOR as Distributed by MLS Grid
• 2003-10-17 Listing Removed — MIBOR as Distributed by MLS Grid
• 2003-09-29 Listed $19,900 MIBOR as Distributed by MLS Grid
• 2003-07-17 Listed $22,500 MIBOR as Distributed by MLS Grid

Property tax history

+9.8%/yr

Latest (2025): $2,252 · -2.1% YoY. Source: county tax records.