1416 Comer Ave · Indianapolis city (balance), IN 46203

$210,000

2 bd · 2.0 ba · 1,140 sqft · MultiFamily public records · 58 Days on market

Built 1930 5,184 sqft lot Est $171k · 23% over

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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
• DSCR +5.2/10.0
• 1% rule +5.0/10.0
• Rent growth +3.2/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.4/10.0
• ARV discount +0.0/15.0
• 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 MLS

A Duplex Real Estate investment, that would be perfect for any home owner that is interested in having a potential tenant in the property. This duplex has two bedrooms and two bathrooms overall. There is even a detached garage with 2 parking spots, with individual access to the garage for each side of the duplex.

Key facts

• 5,184 sq ft lot
• 2 garage spots
• Built 1930

Tags

• INCOME PRODUCING DUPLEX
• PARTIALLY FENCED BACKYARD
• IN UNIT LAUNDRY HOOKUPS
• DETACHED 2 CAR GARAGE

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $210k.

Deal economics

• At list price, monthly cash flow is $134 ($2k/yr) — positive. Per door: $67/mo.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $209k (0.3% below list).
• Recommended offer: $204k (3.0% 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.
• Zoned schools: Frederick Douglass School 19 (math 9% / reading 13%, grade F, #909 of 994 statewide, top 92%, 444 students, 81% FRL); H L Harshman Middle School (math 3% / reading 16%, grade F, #316 of 330 statewide, top 96%, 549 students, 84% FRL).
• Market conditions: Rents rising (+2.9%/yr); 500 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 22d 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 44% of the median local income ($57k/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 58 days — a 3% lower offer ($204k) is reasonable based on typical stale-listing flexibility.
• 14 sale attempts since 18y 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.
• Current owner paid $170k; 24% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1930 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $203,700 (3.0% below list)

Questions for the listing agent

1. It's been on market 58 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1930 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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.
8. 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.
9. 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: 1.00% ✗
• Cap rate: 7.06%
• Cash-on-cash: 2.73%
• DSCR: 1.12
• GRM: 8.4

CMA / ARV

• ARV (on-the-fly): $171,000
• Comps found: 4

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1201 Finley Ave	0.18mi	3/1.0 (+1)	1,100 (-4%)	6mo	$320,500	$291	72
1735-1737 Wade St	0.43mi	2/2.0	984 (-14%)	2mo	$100,000	$102	55
1545 E Legrande Ave	0.52mi	2/2.0	1,268 (+11%)	6mo	$69,900	$55	52
802 E Raymond St	0.68mi	1/2.0 (-1)	1,300 (+14%)	0mo	$195,000	$150	40

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 · 2.88% rent growth · sell at horizon

5-year hold

• IRR: -12.1%
• Equity multiple: 0.56×
• Total profit: $-25,700
• Equity at exit: $31,312

10-year hold

• IRR: -3.1%
• Equity multiple: 0.79×
• Total profit: $-12,157
• Equity at exit: $18,157

Cash invested: $58,800 (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 46203

• Home prices YoY: -26.7%
• Rents YoY: 2.9%
• Active inventory: 500
• Price-to-rent: 16.7×

Monthly cashflow live

• Estimated rent: $2,094 high
• Mortgage (P&I): −$1,101
• Tax from tax record: −$332 /mo · $3,983/yr
• Insurance: −$88
• HOA: −$0
• Vacancy / Maint / Mgmt: −$440
• Net cashflow: $134

Break-even live

Break-even rent $1,925

Max offer price $210,000

Occupancy floor 89%

Sensitivity live

Price	-10% $252	-5% $193	+0% $134	+5% $74	+10% $15
Rent	-10% $-32	-5% $51	+0% $134	+5% $216	+10% $299
Rate	-1.0pp $239	-0.5pp $187	base $134	+0.5pp $79	+1.0pp $24

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,094
Total (2 units)			$2,094

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: $52,500
• Closing costs: $6,300
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1549 Nelson Ave Indianapolis, IN	3.0	1.0	950	$1,380	$1.45	45d	1	0.22mi
1637 Hoefgen St Indianapolis, IN	2.0	1.0	780	$1,000	$1.28	45d	1	0.22mi
2555 Shelby St Unit 2559 Indianapolis, IN	1.0	1.0	717	$1,250	$1.74	45d	1	0.24mi
1144 McDougal St Indianapolis, IN	3.0	1.0	876	$1,500	$1.71	23d	1	0.35mi
1604 E Kelly St Indianapolis, IN	2.0	1.0	800	$1,025	$1.28	12d	1	0.38mi
1604 E Kelly St Indianapolis, IN	2.0	1.0	750	$1,025	$1.37	19d	1	0.38mi
2469 Dawson St Indianapolis, IN	2.0	1.0	700	$949	$1.36	5d	4	0.41mi
2714 Dawson St Indianapolis, IN	3.0	1.0	912	$1,500	$1.64	0d	1	0.47mi
1706 E Tabor St Unit 1708 Indianapolis, IN	3.0	1.0	1000	$1,300	$1.30	9d	1	0.49mi
2633 S Randolph St Unit b Indianapolis, IN	2.0	1.0	900	$995	$1.11	25d	1	0.52mi
2633 S Randolph St Indianapolis, IN	2.0	1.0	900	$995	$1.11	12d	1	0.52mi
1011 E Raymond St Indianapolis, IN	2.0	2.0	1100	$1,350	$1.23	25d	1	0.56mi
2948 Shelby St Unit D Indianapolis, IN	2.0	1.0	750	$1,025	$1.37	45d	1	0.59mi
2020 Boyd Ave Indianapolis, IN	3.0	1.5	1160	$1,450	$1.25	25d	1	0.60mi
2018 Boyd Ave Indianapolis, IN	3.0	1.5	1160	$1,350	$1.16	45d	1	0.60mi
2103 Ringgold Ave Indianapolis, IN	1.0	1.0	1090	$775	$0.71	15d	1	0.68mi
1117 E Naomi St Indianapolis, IN	2.0	1.5	976	$1,450	$1.49	0d	1	0.81mi
3146 Asbury St Indianapolis, IN	2.0	1.0	728	$850	$1.17	9d	1	0.82mi
2770 South East St Unit 302 Indianapolis, IN	3.0	2.0	1158	$1,015	$0.88	4d	1	0.84mi
1861 Barth Ave Unit 1861 Indianapolis, IN	2.0	1.0	1300	$1,600	$1.23	25d	1	0.84mi
2770 S East St Apt 103 Indianapolis, IN	3.0	2.0	1190	$1,045	$0.88	16d	1	0.84mi
2036 Calhoun St Indianapolis, IN	2.0	1.0	880	$1,200	$1.36	9d	1	0.84mi
2760 S East St Indianapolis, IN	2.0–3.0	2.0	1072	$895	$0.83	5d	3	0.85mi
3311 Linden St Indianapolis, IN	3.0	1.0	1056	$1,150	$1.09	45d	1	0.89mi
2109 Singleton St Indianapolis, IN	3.0	2.0	1340	$2,100	$1.57	9d	1	0.89mi
2430 E Kelly St Indianapolis, IN	2.0	1.0	965	$949	$0.98	45d	1	0.89mi
1742 Thaddeus St Unit 1742-A Indianapolis, IN	3.0	2.0	1350	$1,600	$1.19	15d	1	0.89mi
265 E Southern Ave Indianapolis, IN	1.0–2.0	1.0	800	$1,150	$1.44	4d	2	0.91mi
1815 Dawson St Unit 1815 Indianapolis, IN	2.0	1.0	1019	$999	$0.98	16d	1	0.92mi
1729 Thaddeus St Unit 1729-B Indianapolis, IN	3.0	2.0	1350	$1,600	$1.19	15d	1	0.92mi
3312 Olive St Indianapolis, IN	3.0	2.0	1000	$1,395	$1.40	25d	1	0.94mi
3334 Laurel St Indianapolis, IN	3.0	1.0	1068	$1,200	$1.12	22d	1	0.94mi
2209 Ransdell St Indianapolis, IN	2.0	1.0	710	$900	$1.27	45d	1	0.97mi
2236 Ransdell St Indianapolis, IN	2.0	1.0	850	$1,150	$1.35	45d	1	0.99mi
620 E Beecher St Indianapolis, IN	3.0	2.0	1072	$1,639	$1.53	21d	1	1.00mi
823 Iowa St Indianapolis, IN	2.0	1.0	812	$1,100	$1.35	45d	1	1.02mi
823 Iowa St Indianapolis, IN	2.0	1.0	812	$1,100	$1.35	0d	1	1.02mi
1637 S State Ave Indianapolis, IN	2.0	1.5	816	$900	$1.10	19d	1	1.03mi
1833 Orleans St Unit 1 Indianapolis, IN	3.0	1.0	1260	$1,350	$1.07	45d	1	1.03mi
1640 Asbury St Indianapolis, IN	1.0	1.0	700	$850	$1.21	45d	1	1.03mi

Listing history 35 events

1. 2026-01-13
   status Pending
2. 2026-01-06
   status Active
3. 2025-12-13
   status Pending
4. 2025-11-24
   price $210,000
5. 2025-10-23
   listed $219,900 Active
6. 2024-01-28
   historical $1,000
7. 2023-10-14
   listed $1,000
8. 2023-01-23
   soldstatus $170,000 Closed 314-char remark

   Show marketing remark (314 chars)

   A Duplex Real Estate investment, that would be perfect for any home owner that is interested in having a potential tenant in the property. This duplex has two bedrooms and two bathrooms overall. There is even a detached garage with 2 parking spots, with individual access to the garage for each side of the duplex.

9. 2022-12-28
   status Pending 314-char remark

   Show marketing remark (314 chars)

   A Duplex Real Estate investment, that would be perfect for any home owner that is interested in having a potential tenant in the property. This duplex has two bedrooms and two bathrooms overall. There is even a detached garage with 2 parking spots, with individual access to the garage for each side of the duplex.

10. 2022-12-16
    listed $178,000 Active 314-char remark

    Show marketing remark (314 chars)

    A Duplex Real Estate investment, that would be perfect for any home owner that is interested in having a potential tenant in the property. This duplex has two bedrooms and two bathrooms overall. There is even a detached garage with 2 parking spots, with individual access to the garage for each side of the duplex.

11. 2022-07-01
    historical 378-char remark

    Show marketing remark (378 chars)

    ***GREAT INVESTMENT OPPORTUNITY*** Under rented duplex in the heart of Indianapolis. Perfect property for the investor or buyer looking to live in an instant income generating property. Being sold As Is. Seller will not be making any repairs. Part of a portfolio being sold that includes 1416 Comer, 3547 Illinois, 3319 Capitol, & 1726 Somerset. Package deals welcome.

12. 2022-07-01
    soldstatus $117,500 Closed 378-char remark

    Show marketing remark (378 chars)

    ***GREAT INVESTMENT OPPORTUNITY*** Under rented duplex in the heart of Indianapolis. Perfect property for the investor or buyer looking to live in an instant income generating property. Being sold As Is. Seller will not be making any repairs. Part of a portfolio being sold that includes 1416 Comer, 3547 Illinois, 3319 Capitol, & 1726 Somerset. Package deals welcome.

13. 2022-04-27
    status Pending 378-char remark

    Show marketing remark (378 chars)

    ***GREAT INVESTMENT OPPORTUNITY*** Under rented duplex in the heart of Indianapolis. Perfect property for the investor or buyer looking to live in an instant income generating property. Being sold As Is. Seller will not be making any repairs. Part of a portfolio being sold that includes 1416 Comer, 3547 Illinois, 3319 Capitol, & 1726 Somerset. Package deals welcome.

14. 2022-04-22
    listed $140,000 Active 378-char remark

    Show marketing remark (378 chars)

    ***GREAT INVESTMENT OPPORTUNITY*** Under rented duplex in the heart of Indianapolis. Perfect property for the investor or buyer looking to live in an instant income generating property. Being sold As Is. Seller will not be making any repairs. Part of a portfolio being sold that includes 1416 Comer, 3547 Illinois, 3319 Capitol, & 1726 Somerset. Package deals welcome.

15. 2019-04-18
    soldstatus $87,000
16. 2019-04-17
    soldstatus $87,000 Sold
17. 2019-04-04
    status Pending
18. 2019-04-04
    status Active
19. 2019-02-06
    historical
20. 2019-02-01
    status Active
21. 2019-01-31
    historical
22. 2018-11-01
    status Active
23. 2018-10-31
    historical
24. 2018-10-02
    listed $87,000 Active
25. 2013-11-15
    historical
26. 2013-11-01
    soldstatus $27,500
27. 2013-04-20
    historical
28. 2013-04-19
    listed $31,900
29. 2010-01-11
    listed $74,000
30. 2009-11-01
    historical
31. 2009-09-02
    listed $79,000
32. 2009-08-12
    historical
33. 2009-02-21
    historical
34. 2009-02-11
    listed $79,000
35. 2008-05-20
    listed $84,900

ⓘ 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: $3,983 · $332/mo
• Projected year-2 tax: $3,983 · $332/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 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $25,128
• − Mortgage interest: −$11,763
• − Property taxes: −$3,983
• − Insurance: −$1,050
• − Repairs & maintenance: −$2,010
• − Management: −$2,010
• − Depreciation: −$6,109
• Taxable loss: −$1,798
• Est. tax savings @ 24.0%: +$432
• After-tax cash flow: $2,034/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): 37,758
• Household income: $57,393
• Rent vs Own: 42.2% rent · 57.8% own
• Severe rent burden: 1499.0

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 White (69%)
• Race & ethnicity: White 69% Hispanic / Latino 14% Black 12% Two or more races 8% Asian 2% Native American 1%
• Hispanic origin (detail): Mexican 12% Puerto Rican 1%
• Common ancestry: Slovak 2% Lithuanian 2% Italian 1%
• Foreign-born: 8% · Canada
• Languages at home: 88% English-only · Spanish 10% 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: ▼ -127.37%
• Current HPI: 349.579
• Rent YoY: ▲ 2.88%
• 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

+147.3% since first listed

35 events — show timeline

• 2026-01-13 Pending — MIBOR as Distributed by MLS Grid
• 2026-01-06 Relisted — MIBOR as Distributed by MLS Grid
• 2025-12-13 Pending — MIBOR as Distributed by MLS Grid
• 2025-11-24 Price Changed $210,000 MIBOR as Distributed by MLS Grid
• 2025-10-23 Listed $219,900 MIBOR as Distributed by MLS Grid
• 2024-01-28 Rental Removed $1,000 APPFOLIO
• 2023-10-14 Listed for Rent $1,000 APPFOLIO
• 2023-01-23 Sold (MLS) $170,000 MIBOR as Distributed by MLS Grid
• 2022-12-28 Pending — MIBOR as Distributed by MLS Grid
• 2022-12-16 Listed $178,000 MIBOR as Distributed by MLS Grid
• 2022-07-01 Listing Removed — MIBOR as Distributed by MLS Grid
• 2022-07-01 Sold (MLS) $117,500 MIBOR as Distributed by MLS Grid
• 2022-04-27 Pending — MIBOR as Distributed by MLS Grid
• 2022-04-22 Listed $140,000 MIBOR as Distributed by MLS Grid
• 2019-04-18 Sold (Public Records) $87,000 Public Records
• 2019-04-17 Sold (MLS) $87,000 MIBOR as Distributed by MLS Grid
• 2019-04-04 Pending — MIBOR as Distributed by MLS Grid
• 2019-04-04 Relisted — MIBOR as Distributed by MLS Grid
• 2019-02-06 Listing Removed — MIBOR as Distributed by MLS Grid
• 2019-02-01 Relisted — MIBOR as Distributed by MLS Grid
• 2019-01-31 Listing Removed — MIBOR as Distributed by MLS Grid
• 2018-11-01 Relisted — MIBOR as Distributed by MLS Grid
• 2018-10-31 Listing Removed — MIBOR as Distributed by MLS Grid
• 2018-10-02 Listed $87,000 MIBOR as Distributed by MLS Grid
• 2013-11-15 Listing Removed — MIBOR as Distributed by MLS Grid
• 2013-11-01 Sold (MLS) $27,500 MIBOR as Distributed by MLS Grid
• 2013-04-20 Listing Removed — MIBOR as Distributed by MLS Grid
• 2013-04-19 Listed $31,900 MIBOR as Distributed by MLS Grid
• 2010-01-11 Listed $74,000 MIBOR as Distributed by MLS Grid
• 2009-11-01 Listing Removed — MIBOR as Distributed by MLS Grid
• 2009-09-02 Listed $79,000 MIBOR as Distributed by MLS Grid
• 2009-08-12 Listing Removed — MIBOR as Distributed by MLS Grid
• 2009-02-21 Listing Removed — MIBOR as Distributed by MLS Grid
• 2009-02-11 Listed $79,000 MIBOR as Distributed by MLS Grid
• 2008-05-20 Listed $84,900 MIBOR as Distributed by MLS Grid

Property tax history

+8.4%/yr

Latest (2025): $3,983 · -3.9% YoY. Source: county tax records.