4024 Eastern Ave · Indianapolis city (balance), IN 46205

$94,900

1 bd · 1.0 ba · 780 sqft · SingleFamily public records · 59 Days on market

Built 1927 6,578 sqft lot $122/sqft · 87% above area Est $102k · 7% under

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Why this score? — see what drove the C 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 +23.1/30.0
• ARV discount +10.5/15.0
• DSCR +7.4/10.0
• 1% rule +6.6/10.0
• 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

Great property with tons of period charm and curb appeal, just needs a little work to be a great home or investment property.

Key facts

• 6,578 sq ft lot
• Garage
• Built 1927

Property features AI

Exterior

• Parking: Detached 1-car garage
• Security: Smoke detector(s)
• Utilities: Public water; Municipal sewer connection; Electric service with circuit breakers
• Home design: Single family residence; One level
• Construction: Vinyl siding and stucco exterior; Block foundation
• Exterior features: Has view; Less than 1/4 acre lot

Interior

• Kitchen: Electric oven; Range hood; Refrigerator
• Bedrooms: 2 bedrooms on the main level
• Bathrooms: 1 full bathroom with tub and shower
• Heating & cooling: Forced air heating (natural gas); No central air
• Interior features: Attic access; Masonry fireplace in the living room
• Laundry & utility: Water heater

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath single-family listed at $95k.

Deal economics

• At list price, monthly cash flow is $171 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $95k).
• Recommended offer: $92k (3.0% below list) — sets the bar for market timing.
• Cap rate 8.5% 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 C — 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: Shortridge High School (math 20% / reading 51%, grade F, #263 of 369 statewide, top 72%, 1,089 students, 70% FRL).
• Zoned-school proficiency averages 36% at this address vs 17% district-wide (+18 pts) — the actual schools serving this property are materially stronger than the Indianapolis Public Schools average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: Rents rising fast (+6.2%/yr); 317 active listings in the ZIP; 34 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); 1,906 units permitted in Marion County in 2024 (621 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $656 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 + 6.2% rent growth), your $27k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 59 days — a 3% lower offer ($92k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 8y ago; this cycle's ask has dropped $10k (10%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $30k; list at $95k implies a 217% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1927 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $92,053 (3.0% below list)

Questions for the listing agent

1. It's been on market 59 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1927 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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.
5. 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.
6. 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: 1.16% ✓
• Cap rate: 8.45%
• Cash-on-cash: 7.72%
• DSCR: 1.34
• GRM: 7.2

CMA / ARV

• ARV (median comp): $101,689
• List price: $94,900
• Delta: -6.68%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 8 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3640 N Lasalle St	0.60mi	2/1.0 (+1)	720 (-8%)	1mo	$139,500	$194	53
3930 Caroline Ave	0.45mi	2/1.0 (+1)	812 (+4%)	18mo	$102,500	$126	52
3714 Hillside Ave	0.48mi	2/2.0 (+1)	844 (+8%)	4mo	$143,900	$170	52
3706 Baltimore Ave	0.55mi	2/1.0 (+1)	812 (+4%)	13mo	$40,000	$49	52
3511 N Keystone Ave	0.66mi	2/1.0 (+1)	837 (+7%)	10mo	$113,500	$136	44
2110 Clay St	0.57mi	2/1.0 (+1)	816 (+5%)	24mo	$156,000	$191	41
3541 Kinnear Ave	0.74mi	2/1.0 (+1)	812 (+4%)	23mo	$107,000	$132	34
4310 Crittenden Ave	0.66mi	2/1.0 (+1)	672 (-14%)	9mo	$142,000	$211	33

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 · 6.21% rent growth · sell at horizon

5-year hold

• IRR: -0.8%
• Equity multiple: 0.97×
• Total profit: $-789
• Equity at exit: $14,150

10-year hold

• IRR: 12.2%
• Equity multiple: 2.11×
• Total profit: $29,549
• Equity at exit: $8,205

Cash invested: $26,572 (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 46205

• Rents YoY: 6.2%
• Active inventory: 317
• Price-to-rent: 7.2×

Monthly cashflow live

• Estimated rent: $1,098 high
• Mortgage (P&I): −$498
• Tax from tax record: −$160 /mo · $1,914/yr
• Insurance: −$40
• HOA: −$0
• Vacancy / Maint / Mgmt: −$231
• Net cashflow: $171

Break-even live

Break-even rent $882

Max offer price $94,900

Occupancy floor 79%

Sensitivity live

Price	-10% $225	-5% $198	+0% $171	+5% $144	+10% $117
Rent	-10% $84	-5% $128	+0% $171	+5% $214	+10% $258
Rate	-1.0pp $219	-0.5pp $195	base $171	+0.5pp $146	+1.0pp $121

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: $23,725
• Closing costs: $2,847
• Reserves months: —
• Total cash needed: —

Rent comps 34 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3719 Hillside Ave Indianapolis, IN	1.0	1.0	644	$725	$1.13	24d	1	0.44mi
3763 Baltimore Ave Unit 3765 Indianapolis, IN	1.0	1.0	750	$750	$1.00	45d	1	0.45mi
4115 Meadows Dr Indianapolis, IN	1.0–3.0	1.0–2.0	1013	$1,157	$1.14	45d	9	0.53mi
4400 E Fall Creek Parkway North Dr Indianapolis, IN	1.0–2.0	1.0–1.5	857	$1,014	$1.18	3d	31	0.58mi
3709 Kinnear Ave Indianapolis, IN	2.0	1.0	650	$1,000	$1.54	45d	1	0.60mi
3723 Orchard Ave Unit 3723 Indianapolis, IN	1.0	1.5	700	$1,300	$1.86	24d	1	0.64mi
4326 Crittenden Ave Indianapolis, IN	2.0	1.0	812	$1,045	$1.29	21d	1	0.69mi
3615 Sherman Forest Dr Indianapolis, IN	4.0	1.0–2.5	1057	$1,031	$0.98	5d	1	0.69mi
3472 N Dearborn St Indianapolis, IN	2.0	1.0	890	$1,099	$1.23	21d	1	0.71mi
2511 E 46th St Indianapolis, IN	1.0–2.0	1.0–2.0	830	$1,073	$1.29	45d	2	0.71mi
2106 E 46th St Indianapolis, IN	1.0	1.0	552	$925	$1.68	11d	1	0.88mi
3363 Nicholas Ave Indianapolis, IN	2.0	1.0	720	$1,000	$1.39	5d	1	0.89mi
4521 Norwaldo Ave Unit A Indianapolis, IN	2.0	1.5	1024	$1,525	$1.49	24d	1	0.89mi
4521 Norwaldo Ave Unit B Indianapolis, IN	2.0	1.5	1054	$1,600	$1.52	45d	1	0.89mi
3725 N Sherman Dr #7 Indianapolis, IN	2.0	1.0	729	$845	$1.16	5d	1	0.90mi
3421 N Olney St Indianapolis, IN	2.0	1.0	720	$1,195	$1.66	17d	1	0.92mi
3609 Balsam Ave Indianapolis, IN	1.0	1.0	541	$755	$1.40	15d	1	1.11mi
3609 Balsam Ave Indianapolis, IN	1.0	1.0	541	$775	$1.43	4d	1	1.11mi
4560 Marcy Ln Indianapolis, IN	1.0–2.0	1.0	770	$1,300	$1.69	15d	8	1.12mi
3610 Balsam Ave Indianapolis, IN	1.0	1.0	464	$775	$1.67	4d	9	1.13mi
3909 Winthrop Ave Unit B Indianapolis, IN	2.0	1.5	931	$1,550	$1.66	13d	1	1.21mi
3165 Station St Unit B Indianapolis, IN	—	1.0	768	$749	$0.98	8d	1	1.26mi
2111 E 52nd St Indianapolis, IN	1.0–2.0	1.0	750	$999	$1.33	8d	4	1.30mi
5169 Caroline Ave Indianapolis, IN	1.0	1.0	600	$1,400	$2.33	24d	1	1.31mi
2931 N Tacoma Ave Unit 31 Indianapolis, IN	2.0	1.0	800	$950	$1.19	8d	1	1.33mi
2930 N Dearborn St Indianapolis, IN	1.0	1.0	536	$599	$1.12	24d	1	1.36mi
5006 Rosslyn Ave Indianapolis, IN	2.0	1.0	744	$2,000	$2.69	24d	1	1.37mi
2949 Adams St Indianapolis, IN	2.0	1.0	978	$1,150	$1.18	45d	1	1.39mi
5005 Indianola Ave Indianapolis, IN	2.0	1.0	884	$1,249	$1.41	45d	1	1.40mi
4554 Winthrop Ave Unit 4554-8 Indianapolis, IN	2.0	1.0	800	$1,030	$1.29	8d	1	1.43mi
4554 Winthrop Ave Unit 4554-10 Indianapolis, IN	2.0	1.0	800	$1,030	$1.29	24d	1	1.43mi
5161 Primrose Ave Indianapolis, IN	2.0	1.0	837	$1,850	$2.21	15d	1	1.45mi
3132 Dr Andrew J Brown Ave Indianapolis, IN	2.0	1.0–2.0	791	$1,685	$2.13	3d	46	1.46mi
3716 N College Ave Unit 3 Indianapolis, IN	2.0	2.0	1100	$1,450	$1.32	45d	1	1.50mi

Listing history 22 events

1. 2026-06-21
   days on market $94,900 Active 59 DOM
2. 2026-06-18
   days on market $94,900 Active 56 DOM
3. 2026-06-17
   days on market $94,900 Active 55 DOM
4. 2026-06-16
   days on market $94,900 Active 54 DOM
5. 2026-06-15
   days on market $94,900 Active 53 DOM
6. 2026-06-13
   days on market $94,900 Active 51 DOM
7. 2026-06-13
   days on market $94,900 Active 50 DOM
8. 2026-06-09
   days on market $94,900 Active 47 DOM
9. 2026-06-08
   days on market $94,900 Active 46 DOM
10. 2026-06-07
    days on market $94,900 Active 45 DOM
11. 2026-06-03
    days on market $94,900 Active 41 DOM
12. 2026-06-02
    days on market $94,900 Active 40 DOM
13. 2026-06-01
    days on market $94,900 Active 39 DOM
14. 2026-05-31
    price $94,900 Active 38 DOM
15. 2026-05-31
    days on market $99,900 Active 38 DOM
16. 2026-05-15
    price $99,900 508-char remark
17. 2026-04-23
    listed $104,900 Active 508-char remark
18. 2019-03-05
    soldstatus $29,900 Sold 125-char remark

    Show marketing remark (125 chars)

    Great property with tons of period charm and curb appeal, just needs a little work to be a great home or investment property.

19. 2019-02-21
    status Pending 125-char remark

    Show marketing remark (125 chars)

    Great property with tons of period charm and curb appeal, just needs a little work to be a great home or investment property.

20. 2019-02-01
    price $29,900 125-char remark

    Show marketing remark (125 chars)

    Great property with tons of period charm and curb appeal, just needs a little work to be a great home or investment property.

21. 2018-12-11
    price $34,900 125-char remark

    Show marketing remark (125 chars)

    Great property with tons of period charm and curb appeal, just needs a little work to be a great home or investment property.

22. 2018-11-24
    listed $42,000 Active 125-char remark

    Show marketing remark (125 chars)

    Great property with tons of period charm and curb appeal, just needs a little work to be a great home or investment property.

ⓘ 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: $1,914 · $160/mo
• Projected year-2 tax: $1,914 · $160/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 · 18 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: $13,180
• − Mortgage interest: −$5,316
• − Property taxes: −$1,914
• − Insurance: −$474
• − Repairs & maintenance: −$1,054
• − Management: −$1,054
• − Depreciation: −$2,761
• Taxable income: $605
• Est. tax owed @ 24.0%: −$145
• After-tax cash flow: $1,906/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): 28,259
• Household income: $72,417
• Rent vs Own: 46.3% rent · 53.7% own
• Severe rent burden: 1149.0

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 0.64)
• Race & ethnicity: White 50% Black 32% Two or more races 10% Hispanic / Latino 7% Asian 3%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Italian 3% Slovak 2% Romanian 2%
• Foreign-born: 5% · Canada
• Languages at home: 89% English-only · Spanish 6% Other Indo-European 2% German/W. Germanic 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: ▼ -322.77%
• Current HPI: 380.5407
• Rent YoY: ▲ 6.21%
• 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

+126.0% since first listed

8 events — show timeline

• 2026-05-31 Price Changed $94,900 MIBOR as Distributed by MLS Grid
• 2026-05-15 Price Changed $99,900 MIBOR as Distributed by MLS Grid
• 2026-04-23 Listed $104,900 MIBOR as Distributed by MLS Grid
• 2019-03-05 Sold (MLS) $29,900 MIBOR as Distributed by MLS Grid
• 2019-02-21 Pending — MIBOR as Distributed by MLS Grid
• 2019-02-01 Price Changed $29,900 MIBOR as Distributed by MLS Grid
• 2018-12-11 Price Changed $34,900 MIBOR as Distributed by MLS Grid
• 2018-11-24 Listed $42,000 MIBOR as Distributed by MLS Grid

Property tax history

+20.7%/yr

Latest (2025): $1,914 · +23.6% YoY. Source: county tax records.