1513 Finley Ave · Indianapolis city (balance), IN 46203

$70,000

2 bd · 2.0 ba · 1,240 sqft · SingleFamily public records · 7 Days on market

Built 1900 6,011 sqft lot $56/sqft · 47% below area ↓ 22% 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Rent growth +3.2/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.4/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Garfield Park Neighborhood's most affordable and move-in ready 3 bed 2 full bath home just hit the market! Freshly painted throughout with a spacious living room area, high ceilings and sizeable bedrooms, this home is everything you will want and need! Enjoy a cool evening breeze on your large, covered front porch. Or, hang out in a large private backyard that's fully-fenced and pet-friendly. Convenient parking and storage is offered in a 2 car detached garage! Seller is offering a $5,000 closing credit with a strong and qualified offer!

Key facts

• 6,011 sq ft lot
• 2 garage spots
• Built 1900

Property features AI

Exterior

• Parking: Detached 2-car garage
• Utilities: Public water; Municipal sewer
• Home design: Single-family residence; Two levels
• Construction: Cement siding; Block foundation
• Exterior features: Fenced yard; Less than 1/4 acre lot

Interior

• Kitchen: Kitchen (main level)
• Bedrooms: Three bedrooms (one on the main level, two on the upper level)
• Bathrooms: Two full bathrooms
• Heating & cooling: Forced air heating (natural gas); Central air conditioning
• Interior features: Finished basement; 5 total rooms
• Laundry & utility: No listed laundry appliances

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath single-family listed at $70k.

Deal economics

• At list price, monthly cash flow is $457 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $70k).
• Cap rate 14.1% 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 (+2.9%/yr); 493 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).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $484 of loan paydown is wiped out by about $2k 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 + 2.9% rent growth), your $20k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• Only 7 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts since 15y 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: property tax is 2.6% of price; built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $70,000

Questions for the listing agent

1. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
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: 1.81% ✓
• Cap rate: 14.13%
• Cash-on-cash: 28.00%
• DSCR: 2.25
• GRM: 4.6

CMA / ARV

• ARV (median comp): $162,950
• List price: $70,000
• Delta: -57.04%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1127 E Kelly St	0.32mi	2/2.0	1,280 (+3%)	2mo	$185,000	$145	78
1426 E Bradbury Ave	0.11mi	3/2.0 (+1)	1,320 (+6%)	1mo	$208,000	$158	78
1639 Comer Ave	0.20mi	3/2.0 (+1)	1,327 (+7%)	1mo	$100,000	$75	73
1518 E Legrande Ave	0.42mi	2/2.0	1,296 (+4%)	3mo	$177,000	$137	70
1532 E Tabor St	0.28mi	2/1.0	1,305 (+5%)	7mo	$92,000	$70	68
1411 E Bradbury Ave	0.11mi	3/2.0 (+1)	1,120 (-10%)	7mo	$147,500	$132	68
2845 Tindall St	0.57mi	3/1.0 (+1)	1,200 (-3%)	3mo	$180,000	$150	56
1850 E Legrande Ave	0.59mi	2/1.0	1,344 (+8%)	1mo	$145,000	$108	54
2916 Dietz St	0.67mi	3/1.0 (+1)	1,200 (-3%)	4mo	$160,000	$133	52
2020 Mac Ct	0.58mi	3/1.0 (+1)	1,314 (+6%)	4mo	$185,000	$141	50
2905 Dietz St	0.65mi	3/1.0 (+1)	1,144 (-8%)	4mo	$150,000	$131	44
2415 Finley Ave	0.74mi	3/1.0 (+1)	1,148 (-7%)	3mo	$178,500	$155	41

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: 22.1%
• Equity multiple: 1.90×
• Total profit: $17,689
• Equity at exit: $10,437

10-year hold

• IRR: 30.1%
• Equity multiple: 3.68×
• Total profit: $52,517
• Equity at exit: $6,052

Cash invested: $19,600 (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 46203

• Home prices YoY: -26.7%
• Rents YoY: 2.9%
• Active inventory: 493
• Price-to-rent: 4.6×

Monthly cashflow live

• Estimated rent: $1,270 high
• Mortgage (P&I): −$367
• Tax from tax record: −$150 /mo · $1,799/yr
• Insurance: −$29
• HOA: −$0
• Vacancy / Maint / Mgmt: −$267
• Net cashflow: $457

Break-even live

Break-even rent $691

Max offer price $70,000

Occupancy floor 59%

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: $17,500
• Closing costs: $2,100
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1637 Hoefgen St Indianapolis, IN	2.0	1.0	780	$1,000	$1.28	43d	1	0.17mi
1604 E Kelly St Indianapolis, IN	2.0	1.0	800	$1,025	$1.28	10d	1	0.24mi
1604 E Kelly St Indianapolis, IN	2.0	1.0	750	$1,025	$1.37	17d	1	0.24mi
1549 Nelson Ave Indianapolis, IN	3.0	1.0	950	$1,380	$1.45	43d	1	0.33mi
2555 Shelby St Unit 2559 Indianapolis, IN	1.0	1.0	717	$1,250	$1.74	43d	1	0.34mi
2469 Dawson St Indianapolis, IN	2.0	1.0	700	$949	$1.36	3d	4	0.34mi
1706 E Tabor St Unit 1708 Indianapolis, IN	3.0	1.0	1000	$1,300	$1.30	7d	1	0.35mi
2020 Boyd Ave Indianapolis, IN	3.0	1.5	1160	$1,450	$1.25	23d	1	0.47mi
2018 Boyd Ave Indianapolis, IN	3.0	1.5	1160	$1,350	$1.16	43d	1	0.47mi
1144 McDougal St Indianapolis, IN	3.0	1.0	876	$1,500	$1.71	21d	1	0.50mi
1011 E Raymond St Indianapolis, IN	2.0	2.0	1100	$1,350	$1.23	23d	1	0.50mi
2633 S Randolph St Indianapolis, IN	2.0	1.0	900	$995	$1.11	10d	1	0.52mi
2633 S Randolph St Unit b Indianapolis, IN	2.0	1.0	900	$995	$1.11	23d	1	0.52mi
2103 Ringgold Ave Indianapolis, IN	1.0	1.0	1090	$775	$0.71	13d	1	0.61mi
2036 Calhoun St Indianapolis, IN	2.0	1.0	880	$1,200	$1.36	7d	1	0.70mi
1861 Barth Ave Unit 1861 Indianapolis, IN	2.0	1.0	1300	$1,600	$1.23	23d	1	0.74mi
2948 Shelby St Unit D Indianapolis, IN	2.0	1.0	750	$1,025	$1.37	43d	1	0.74mi
1742 Thaddeus St Unit 1742-A Indianapolis, IN	3.0	2.0	1350	$1,600	$1.19	13d	1	0.76mi
1815 Dawson St Unit 1815 Indianapolis, IN	2.0	1.0	1019	$999	$0.98	14d	1	0.77mi
1729 Thaddeus St Unit 1729-B Indianapolis, IN	3.0	2.0	1350	$1,600	$1.19	13d	1	0.78mi
2430 E Kelly St Indianapolis, IN	2.0	1.0	965	$949	$0.98	43d	1	0.79mi
2109 Singleton St Indianapolis, IN	3.0	2.0	1340	$2,100	$1.57	7d	1	0.85mi
1637 S State Ave Indianapolis, IN	2.0	1.5	816	$900	$1.10	17d	1	0.88mi
1640 Asbury St Indianapolis, IN	1.0	1.0	700	$850	$1.21	43d	1	0.89mi
1602 Quill St Unit B Indianapolis, IN	3.0	2.0	1250	$1,650	$1.32	14d	1	0.91mi
1602 Quill St Unit B Indianapolis, IN	3.0	2.0	1250	$1,750	$1.40	43d	1	0.91mi
3146 Asbury St Indianapolis, IN	2.0	1.0	728	$850	$1.17	7d	1	0.93mi
1620 E Palmer St Indianapolis, IN	2.0	1.0	824	$1,200	$1.46	23d	1	0.93mi
1543 S State Ave Indianapolis, IN	2.0	1.0	1086	$1,100	$1.01	7d	1	0.94mi
823 Iowa St Indianapolis, IN	2.0	1.0	812	$1,100	$1.35	43d	1	0.94mi
620 E Beecher St Indianapolis, IN	3.0	2.0	1072	$1,639	$1.53	19d	1	0.94mi
2770 South East St Unit 302 Indianapolis, IN	3.0	2.0	1158	$1,015	$0.88	2d	1	0.95mi
2770 S East St Apt 103 Indianapolis, IN	3.0	2.0	1190	$1,045	$0.88	14d	1	0.95mi
2760 S East St Indianapolis, IN	2.0–3.0	2.0	1072	$895	$0.83	3d	3	0.96mi
944 E Minnesota St Indianapolis, IN	2.0	2.0	944	$1,299	$1.38	43d	1	0.96mi
1833 Orleans St Unit 1 Indianapolis, IN	3.0	1.0	1260	$1,350	$1.07	43d	1	0.97mi
2209 Ransdell St Indianapolis, IN	2.0	1.0	710	$900	$1.27	43d	1	0.97mi
1534 Dawson St Indianapolis, IN	3.0	1.0	1040	$1,499	$1.44	23d	1	0.99mi
265 E Southern Ave Indianapolis, IN	1.0–2.0	1.0	800	$1,150	$1.44	2d	2	0.99mi
2236 Ransdell St Indianapolis, IN	2.0	1.0	850	$1,150	$1.35	43d	1	1.00mi

Listing history 12 events

1. 2026-05-11
   status Pending 516-char remark
2. 2026-05-04
   listed $70,000 Active 516-char remark
3. 2024-03-20
   soldstatus $142,000 Closed 543-char remark

   Show marketing remark (543 chars)

   Garfield Park Neighborhood's most affordable and move-in ready 3 bed 2 full bath home just hit the market! Freshly painted throughout with a spacious living room area, high ceilings and sizeable bedrooms, this home is everything you will want and need! Enjoy a cool evening breeze on your large, covered front porch. Or, hang out in a large private backyard that's fully-fenced and pet-friendly. Convenient parking and storage is offered in a 2 car detached garage! Seller is offering a $5,000 closing credit with a strong and qualified offer!

4. 2024-02-19
   status Pending 543-char remark

   Show marketing remark (543 chars)

   Garfield Park Neighborhood's most affordable and move-in ready 3 bed 2 full bath home just hit the market! Freshly painted throughout with a spacious living room area, high ceilings and sizeable bedrooms, this home is everything you will want and need! Enjoy a cool evening breeze on your large, covered front porch. Or, hang out in a large private backyard that's fully-fenced and pet-friendly. Convenient parking and storage is offered in a 2 car detached garage! Seller is offering a $5,000 closing credit with a strong and qualified offer!

5. 2024-02-15
   listed $148,000 Active 543-char remark

   Show marketing remark (543 chars)

   Garfield Park Neighborhood's most affordable and move-in ready 3 bed 2 full bath home just hit the market! Freshly painted throughout with a spacious living room area, high ceilings and sizeable bedrooms, this home is everything you will want and need! Enjoy a cool evening breeze on your large, covered front porch. Or, hang out in a large private backyard that's fully-fenced and pet-friendly. Convenient parking and storage is offered in a 2 car detached garage! Seller is offering a $5,000 closing credit with a strong and qualified offer!

6. 2015-03-11
   status Pending
7. 2015-02-27
   price $56,300
8. 2015-02-14
   listed $46,300 Active
9. 2012-02-20
   historical
10. 2012-02-17
    soldstatus $17,200
11. 2011-12-27
    listed $13,900
12. 2002-02-08
    soldstatus $85,120

ⓘ 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: $1,799 · $150/mo
• Projected year-2 tax: $1,799 · $150/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: $15,243
• − Mortgage interest: −$3,921
• − Property taxes: −$1,799
• − Insurance: −$350
• − Repairs & maintenance: −$1,219
• − Management: −$1,219
• − Depreciation: −$2,036
• Taxable income: $4,698
• Est. tax owed @ 24.0%: −$1,127
• After-tax cash flow: $4,361/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

-22.5% since first listed

13 events — show timeline

• 2026-05-26 Sold (MLS) $66,000 MIBOR as Distributed by MLS Grid
• 2026-05-11 Pending — MIBOR as Distributed by MLS Grid
• 2026-05-04 Listed $70,000 MIBOR as Distributed by MLS Grid
• 2024-03-20 Sold (MLS) $142,000 MIBOR as Distributed by MLS Grid
• 2024-02-19 Pending — MIBOR as Distributed by MLS Grid
• 2024-02-15 Listed $148,000 MIBOR as Distributed by MLS Grid
• 2015-03-11 Pending — MIBOR as Distributed by MLS Grid
• 2015-02-27 Price Changed $56,300 MIBOR as Distributed by MLS Grid
• 2015-02-14 Listed $46,300 MIBOR as Distributed by MLS Grid
• 2012-02-20 Listing Removed — MIBOR as Distributed by MLS Grid
• 2012-02-17 Sold (MLS) $17,200 MIBOR as Distributed by MLS Grid
• 2011-12-27 Listed $13,900 MIBOR as Distributed by MLS Grid
• 2002-02-08 Sold (Public Records) $85,120 Public Records

Property tax history

+9.8%/yr

Latest (2025): $1,799 · +84.6% YoY. Source: county tax records.