3541 N Chester Ave · Indianapolis city (balance), IN 46218

$129,900

2 bd · 1.0 ba · 872 sqft · SingleFamily public records · 72 Days on market

Built 1946 6,447 sqft lot $149/sqft · 83% above area Est $142k · 9% 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 +19.7/30.0
• ARV discount +11.4/15.0
• DSCR +6.2/10.0
• 1% rule +4.0/10.0
• Rent growth +2.7/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.4/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Excellent rental opportunity. Full basement, fenced rear yard. Seller will re-install furnace with appropriate purchase price.

Key facts

• Full basement
• Fenced rear yard
• 6,447 sq ft lot

Tags

• FULL BASEMENT
• FENCED REAR YARD

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $130k.

Deal economics

• At list price, monthly cash flow is $152 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $117k (10.2% below list).
• Recommended offer: $117k (10.2% below list) — sets the bar for 1% rule.
• Cap rate 7.7% 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 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.
• Market conditions: Rents flat; 334 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); lower-income renter base — watch delinquency; 1,906 units permitted in Marion County in 2024 (621 in 5+ unit buildings).
• This rent runs 37% of the median local income ($38k/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 $898 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.

Negotiation context

• It's been on market 72 days — a 6% lower offer ($122k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 24y 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 $69k; list at $130k implies a 88% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1946 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $116,615 (10.2% below list)

Questions for the listing agent

1. It's been on market 72 days. Have you received any prior offers? Is the seller open to a 10% concession, seller financing, or rate buy-down credit?
2. Built in 1946 — 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: 0.90% ✗
• Cap rate: 7.70%
• Cash-on-cash: 5.01%
• DSCR: 1.22
• GRM: 9.3

CMA / ARV

• ARV (median comp): $142,280
• List price: $129,900
• Delta: -8.70%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3814 E 31st St	0.66mi	2/1.0	899 (+3%)	1mo	$108,500	$121	63
3219 N Colorado Ave	0.48mi	3/1.0 (+1)	912 (+5%)	4mo	$139,900	$153	61
3845 E 32nd St	0.57mi	2/1.0	904 (+4%)	13mo	$72,000	$80	57
3126 Forest Manor Ave	0.62mi	2/1.0	954 (+9%)	4mo	$55,000	$58	52
3924 E 30th St	0.71mi	2/1.0	836 (-4%)	10mo	$85,000	$102	52
3161 N Gale St	0.57mi	2/1.0	960 (+10%)	7mo	$110,000	$115	51
3355 Wallace Ave	0.66mi	2/1.0	768 (-12%)	2mo	$59,500	$77	48
4716 E 33rd St	0.62mi	3/1.0 (+1)	925 (+6%)	12mo	$149,900	$162	46
3111 Station St	0.62mi	2/1.0	776 (-11%)	11mo	$100,000	$129	44
3109 Forest Manor Ave	0.58mi	2/1.0	750 (-14%)	8mo	$115,000	$153	43
4744 E 33rd St	0.68mi	2/1.0	768 (-12%)	11mo	$60,000	$78	39
3317 Adams St	0.52mi	3/1.0 (+1)	988 (+13%)	12mo	$70,000	$71	38

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 · 0.81% rent growth · sell at horizon

5-year hold

• IRR: -10.8%
• Equity multiple: 0.62×
• Total profit: $-13,957
• Equity at exit: $19,369

10-year hold

• IRR: -4.5%
• Equity multiple: 0.73×
• Total profit: $-9,828
• Equity at exit: $11,231

Cash invested: $36,372 (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 46218

• Home prices YoY: -17.1%
• Rents YoY: 0.8%
• Active inventory: 334
• Price-to-rent: 9.3×

Monthly cashflow live

• Estimated rent: $1,166 high
• Mortgage (P&I): −$681
• Tax from tax record: −$34 /mo · $409/yr
• Insurance: −$54
• HOA: −$0
• Vacancy / Maint / Mgmt: −$245
• Net cashflow: $152

Break-even live

Break-even rent $974

Max offer price $129,900

Occupancy floor 82%

Sensitivity live

Price	-10% $225	-5% $189	+0% $152	+5% $115	+10% $78
Rent	-10% $60	-5% $106	+0% $152	+5% $198	+10% $244
Rate	-1.0pp $217	-0.5pp $185	base $152	+0.5pp $118	+1.0pp $84

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: $32,475
• Closing costs: $3,897
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3725 N Sherman Dr #7 Indianapolis, IN	2.0	1.0	729	$845	$1.16	4d	1	0.25mi
3383 Station St Indianapolis, IN	3.0	1.0	744	$1,250	$1.68	24d	1	0.33mi
3421 N Olney St Indianapolis, IN	2.0	1.0	720	$1,195	$1.66	17d	1	0.39mi
3522 N Olney St Indianapolis, IN	3.0	1.0	768	$1,300	$1.69	44d	1	0.39mi
3315 N Euclid Ave Indianapolis, IN	2.0	1.0	780	$1,300	$1.67	15d	1	0.45mi
3615 Sherman Forest Dr Indianapolis, IN	4.0	1.0–2.5	1057	$1,288	$1.22	5d	1	0.48mi
3149 N Gladstone Ave Indianapolis, IN	3.0	1.5	1036	$1,350	$1.30	8d	1	0.54mi
4726 E 34th St Indianapolis, IN	1.0	1.0	643	$800	$1.24	24d	1	0.56mi
3142 N Euclid Ave Indianapolis, IN	3.0	1.0	1050	$1,050	$1.00	44d	1	0.57mi
3332 Wallace Ave Indianapolis, IN	3.0	1.0	936	$1,600	$1.71	24d	1	0.65mi
3472 N Dearborn St Indianapolis, IN	2.0	1.0	890	$1,099	$1.23	20d	1	0.65mi
3461 N Dequincy St Indianapolis, IN	1.0	1.0	900	$720	$0.80	44d	1	0.68mi
3920 E 30th St Indianapolis, IN	3.0	1.0	1071	$1,350	$1.26	5d	1	0.69mi
3920 E 30th St Indianapolis, IN	3.0	1.0	1071	$1,350	$1.26	8d	1	0.69mi
3535 N Oxford St Indianapolis, IN	3.0	1.0	1015	$1,500	$1.48	22d	1	0.79mi
4115 Meadows Dr Indianapolis, IN	1.0–3.0	1.0–2.0	1013	$1,374	$1.36	44d	9	0.83mi
4615 E 30th St Indianapolis, IN	2.0	1.0	660	$1,100	$1.67	24d	1	0.84mi
2862 N Chester Ave Indianapolis, IN	3.0	2.0	1076	$1,520	$1.41	44d	1	0.86mi
2864 Forest Manor Ave Indianapolis, IN	3.0	1.0	1018	$1,500	$1.47	24d	1	0.87mi
3316 N Emerson Ave Indianapolis, IN	3.0	1.0	912	$1,100	$1.21	24d	1	0.90mi
2932 Arthington Blvd Indianapolis, IN	3.0	1.0	900	$1,350	$1.50	24d	1	0.90mi
2949 Adams St Indianapolis, IN	2.0	1.0	978	$1,150	$1.18	44d	1	0.91mi
2950 N Dequincy St Indianapolis, IN	3.0	1.0	888	$1,375	$1.55	14d	1	0.92mi
2920 N Lasalle St Indianapolis, IN	3.0	1.0	875	$1,095	$1.25	18d	1	1.00mi
2930 N Dearborn St Indianapolis, IN	1.0	1.0	536	$599	$1.12	24d	1	1.02mi
3301 Mardenna Ave Indianapolis, IN	3.0	1.0	925	$1,200	$1.30	44d	1	1.04mi
3815 N Grand Ave Unit 3815 Indianapolis, IN	2.0	1.0	965	$1,250	$1.30	5d	1	1.05mi
3741 N Tacoma Ave Indianapolis, IN	3.0	1.0	913	$2,200	$2.41	18d	1	1.08mi
2722 N Olney St Indianapolis, IN	2.0	1.0	650	$795	$1.22	44d	1	1.11mi
3516 N Hawthorne Ln Indianapolis, IN	3.0	1.0	925	$1,225	$1.32	5d	1	1.13mi
3319 N Hawthorne Ln Indianapolis, IN	3.0	1.0	1084	$1,100	$1.01	24d	1	1.18mi
3719 Hillside Ave Indianapolis, IN	1.0	1.0	644	$725	$1.13	24d	1	1.23mi
2931 N Tacoma Ave Unit 31 Indianapolis, IN	2.0	1.0	800	$950	$1.19	8d	1	1.32mi
3636 N Whittier Pl Indianapolis, IN	3.0	1.0	912	$995	$1.09	8d	1	1.32mi
3763 Baltimore Ave Unit 3765 Indianapolis, IN	1.0	1.0	750	$750	$1.00	44d	1	1.32mi
2422 Adams St Unit 2 Indianapolis, IN	1.0	1.0	700	$850	$1.21	44d	1	1.35mi
4400 E Fall Creek Parkway North Dr Indianapolis, IN	1.0–2.0	1.0–1.5	857	$1,349	$1.57	2d	31	1.36mi
2410 Adams St Indianapolis, IN	3.0	1.0	900	$1,200	$1.33	11d	1	1.37mi
3363 Nicholas Ave Indianapolis, IN	2.0	1.0	720	$1,000	$1.39	4d	1	1.41mi
3011 Oxford Ln Indianapolis, IN	1.0	1.0	640	$800	$1.25	44d	1	1.41mi

Listing history 18 events

1. 2026-06-18
   days on market $129,900 Active 72 DOM
2. 2026-06-17
   days on market $129,900 Active 71 DOM
3. 2026-06-16
   days on market $129,900 Active 70 DOM
4. 2026-06-15
   days on market $129,900 Active 69 DOM
5. 2026-06-13
   days on market $129,900 Active 67 DOM
6. 2026-06-13
   days on market $129,900 Active 66 DOM
7. 2026-06-09
   days on market $129,900 Active 63 DOM
8. 2026-06-08
   days on market $129,900 Active 62 DOM
9. 2026-06-07
   days on market $129,900 Active 61 DOM
10. 2026-06-03
    days on market $129,900 Active 57 DOM
11. 2026-06-02
    days on market $129,900 Active 56 DOM
12. 2026-06-01
    days on market $129,900 Active 55 DOM
13. 2026-05-31
    days on market $129,900 Active 54 DOM
14. 2026-04-06
    listed $129,900 Active 126-char remark

    Show marketing remark (126 chars)

    Excellent rental opportunity. Full basement, fenced rear yard. Seller will re-install furnace with appropriate purchase price.

15. 2009-11-23
    historical
16. 2009-10-09
    listed $14,000
17. 2002-10-17
    soldstatus $69,000
18. 2002-08-03
    listed $73,000

ⓘ 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: $409 · $34/mo
• Projected year-2 tax: $757 · $63/mo
• Expected delta: +$347/yr (+$29/mo · 84.8%)

ⓘ 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 ≥101°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: $13,994
• − Mortgage interest: −$7,276
• − Property taxes: −$409
• − Insurance: −$650
• − Repairs & maintenance: −$1,120
• − Management: −$1,120
• − Depreciation: −$3,779
• Taxable loss: −$359
• Est. tax savings @ 24.0%: +$86
• After-tax cash flow: $1,908/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): 29,360
• Household income: $38,063
• Rent vs Own: 47.2% rent · 52.8% own
• Severe rent burden: 2340.0

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 Black (68%)
• Race & ethnicity: Black 68% White 18% Hispanic / Latino 9% Two or more races 6%
• Hispanic origin (detail): Mexican 6%
• Common ancestry: Romanian 1%
• Foreign-born: 5% · Canada, Philippines
• Languages at home: 92% English-only · Spanish 7%

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: ▼ -81.57%
• Current HPI: 395.7071
• Rent YoY: ▲ 0.81%
• 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

+77.9% since first listed

5 events — show timeline

• 2026-04-06 Listed $129,900 MIBOR as Distributed by MLS Grid
• 2009-11-23 Listing Removed — MIBOR as Distributed by MLS Grid
• 2009-10-09 Listed $14,000 MIBOR as Distributed by MLS Grid
• 2002-10-17 Sold (MLS) $69,000 MIBOR as Distributed by MLS Grid
• 2002-08-03 Listed $73,000 MIBOR as Distributed by MLS Grid

Property tax history

+3.5%/yr

Latest (2025): $409 · -16.2% YoY. Source: county tax records.