Score
0Indianapolis, IN
4648 Evanston Ave
205K
2 beds
2 baths
1,392 sqft
2 bd • 2 ba • 1,392 sf
This analysis was generated on 2/20/2025. It is for entertainment purposes only and should not be considered as real estate or investment advice.
AI Property Analysis
0:000:00 / 0:00
List Price
$205,000
Price/Sq.Ft
$147
Year Built
1916
AI Property Analysis
A comprehensive evaluation of this property's features, market position, and investment potential.
The Good
• Prime Location: Situated in South Broad Ripple (SoBro), the property is conveniently located near downtown Broad Ripple, the Monon Trail, and various shops and restaurants. This walkable location is highly desirable and adds to the property's appeal. Walkable areas in Indianapolis often see a 5-10% premium in property values.
• 3-Car Detached Garage: A rare find in this area, the 3-car detached garage offers ample parking and storage space. This is a significant asset, especially considering the limited parking options in Broad Ripple.
• Recent Updates: The newer HVAC system and water heater (both 2021) provide peace of mind and reduce immediate repair costs. These updates can save the buyer several thousand dollars compared to replacing older systems.
• Hardwood Floors: The presence of hardwood floors throughout the living areas adds character and value to the home. Hardwood floors are a desirable feature for many buyers and can increase a property's appeal.
• Fenced Backyard with Patio: The fully fenced backyard with a large patio is ideal for entertaining and outdoor activities. This provides a private and enjoyable outdoor space.
The Bad
• Low School Ratings: The assigned schools, Rousseau McClellan School 91 (5/10), Shortridge High School (2/10), and Eliza A. Blaker School 55 (2/10), have low ratings. This may deter families with school-aged children and could affect future resale value. Properties in highly rated school districts often command a premium.
• Age of the Home: Built in 1916, the home is over 100 years old. This increases the likelihood of needing repairs or updates to plumbing, electrical, and structural components. Older homes may also have issues with insulation and energy efficiency, leading to higher utility bills.
• Potential for Lead Paint/Asbestos: Given the age of the home, there is a possibility of lead paint or asbestos being present. Testing and remediation can add significant costs.
• Small Bedrooms: Although the overall square footage is decent, the bedroom sizes are not specified and may be smaller than average compared to newer construction. Smaller bedrooms can limit furniture options and may not be suitable for all buyers.
The Ugly
• Unknown Crime Statistics: Without specific crime data, it's difficult to assess the safety of the neighborhood. Higher crime rates can negatively impact property values and insurance costs. A detailed crime analysis should be conducted.
• Potential for High Property Taxes: Indianapolis property taxes can be complex and fluctuate. Unexpected tax increases can strain a budget. Research recent assessment trends and factor potential future increases into your budget.
• Foundation Issues: Given the age of the home, there is a risk of foundation problems. Repairing foundation issues can be very expensive, potentially costing tens of thousands of dollars. A thorough inspection is essential.
• Outdated Kitchen and Bathrooms: While the listing mentions appliances, the kitchen and bathrooms may be outdated and require renovation. Kitchen and bathroom remodels can be costly, ranging from $10,000 to $50,000 or more depending on the scope of the project.
Who is this property for?
These details are presented solely for entertainment purposes and are not meant to steer or limit any prospective buyer.
Best For
• First-time homebuyers looking for an affordable entry point into the SoBro market. The property's price point of $205,000 makes it accessible compared to the rising prices in Broad Ripple.
• Buyers who value outdoor space and a large garage. The fully fenced backyard and 3-car detached garage are attractive features for those who enjoy outdoor activities or need ample storage/workshop space.
• Individuals seeking a walkable lifestyle close to amenities. The property's proximity to downtown Broad Ripple, the Monon Trail, and Midtown shops/restaurants offers convenient access to entertainment, dining, and recreation.
• Buyers comfortable with older homes and potential for future upgrades. The 1916 build offers character but may require ongoing maintenance and updates.
• Those seeking a home with essential updates already completed. The newer HVAC system and water heater (both 2021) provide peace of mind and reduce immediate repair costs.
Not For
• Buyers seeking a fully updated, move-in-ready home. While the HVAC and water heater are newer, the property may require additional cosmetic updates and repairs due to its age.
• Individuals prioritizing top-rated schools. The assigned public schools have lower ratings (2-5/10), which may not be suitable for families with school-aged children seeking high-performing schools.
• Buyers with limited budgets for maintenance and repairs. Older homes often require ongoing maintenance and unexpected repairs, which can strain a tight budget.
• Those who prefer a modern, open-concept layout. The property's layout may be more traditional, which may not appeal to buyers seeking contemporary design features.
• Individuals sensitive to potential safety concerns. While SoBro is generally considered safe, it's essential to research crime statistics and consider personal safety preferences, as crime rates can vary by neighborhood.
Demographics
Area Median Income
$56,563
Property History
Price History
Ownership Timeline
$168,500Cash Purchase
Nov 18, 2022James Todd TravisAndrew Iaria
Warranty Deed
Standard Sale (Purchase/Resales)
$0Cash Purchase
Jun 17, 2017Michael P BlessingJames Todd Travis
Deed
Standard Sale (Purchase/Resales)
$0Financed
Mar 18, 2008Donald W HorstmanMichael P Blessing
Warranty Deed
Standard Sale (Purchase/Resales)
Property Taxes
$1,871
2023 Tax Assessment
16.1%from previous year
Assessed Value$146,800
Tax Rate1.27%
Sunlight Analysis
Visualize how sunlight affects this property throughout the day and year.
Sunlight Analysis
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Schools
Details about nearby schools in this area
Financials
Monthly Costs
Market Rent (2 bed)
Get a detailed estimate on Zillow$1,070
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Location & Comparables
Subject Property
Comparable Sales
Subject Property
Price
$205,000
Price/sqft
$147
Layout
2 bd•2 ba
Days on market
2 daysat time of analysis
Stats in the Area
Based on 6 comparable properties nearby
Average Price
$184,250
11.3%
Your price is 11.3% above average
Median Price
$152,000
34.9%
Based on 6 recent sales
Price per Sq.Ft
$138
6.7%
Your price is 6.7% above average $/sqft
Comparable Properties
| Address | Price | Sq.Ft | Beds | Baths | $/Sq.Ft | Sale Date |
|---|---|---|---|---|---|---|
| 4940 Allisonville Road #B, Indianapolis, IN 46205 | $130,000 | 1,347 | 2 | 2 | $9734.5% | 12/3/2024 |
| 5038 Allisonville Road #UNIT B, Indianapolis, IN 46205 | $152,000 | 1,400 | 3 | 2 | $10926.3% | 11/8/2024 |
| 5347 N College Avenue #106, Indianapolis, IN 46220 | $199,000 | 1,264 | 2 | 2 | $1576.9% | 11/14/2024 |
| 5040 Allisonville Road #C, Indianapolis, IN 46205 | $122,000 | 1,347 | 2 | 2 | $9138.5% | 10/23/2024 |
| 5356 Primrose Avenue, Indianapolis, IN 46220 | $365,000 | 1,348 | 3 | 2 | $27183.9% | 10/10/2024 |
| 4934 Allisonville Road #E, Indianapolis, IN 46205 | $137,500 | 1,300 | 2 | 2 | $10628.2% | 10/22/2024 |
4940 Allisonville Road #B, Indianapolis, IN 46205
Price: $130,000
Sq.Ft: 1,347
Beds/Baths: 2/2
$/Sq.Ft:
$9734.5%
Sale Date: 12/3/2024
5038 Allisonville Road #UNIT B, Indianapolis, IN 46205
Price: $152,000
Sq.Ft: 1,400
Beds/Baths: 3/2
$/Sq.Ft:
$10926.3%
Sale Date: 11/8/2024
5347 N College Avenue #106, Indianapolis, IN 46220
Price: $199,000
Sq.Ft: 1,264
Beds/Baths: 2/2
$/Sq.Ft:
$1576.9%
Sale Date: 11/14/2024
5040 Allisonville Road #C, Indianapolis, IN 46205
Price: $122,000
Sq.Ft: 1,347
Beds/Baths: 2/2
$/Sq.Ft:
$9138.5%
Sale Date: 10/23/2024
5356 Primrose Avenue, Indianapolis, IN 46220
Price: $365,000
Sq.Ft: 1,348
Beds/Baths: 3/2
$/Sq.Ft:
$27183.9%
Sale Date: 10/10/2024
4934 Allisonville Road #E, Indianapolis, IN 46205
Price: $137,500
Sq.Ft: 1,300
Beds/Baths: 2/2
$/Sq.Ft:
$10628.2%
Sale Date: 10/22/2024
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