1619 Kessler Blvd Dr N · Indianapolis city (balance), IN 46222

$120,000

3 bd · 1.0 ba · 2,261 sqft · SingleFamily public records · 70 Days on market

Built 1930 7,971 sqft lot $53/sqft · at area comps Est $165k · 27% under

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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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Rent growth +3.1/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.4/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Back on the Market.Spacious 4-bedroom, 2 full bath home with a full basement, ready for someone to add their own TLC. Newer windows already in place, and original hardwood floors are believed to be under the carpet. Great opportunity for an investor or first-time buyer looking to build equity. Conveniently located near major hospitals, IUPUI, highways, and on the bus line.

Key facts

• Full basement
• Newer windows
• Conveniently located

Tags

• FULL BASEMENT
• NEWER WINDOWS
• ORIGINAL HARDWOOD FLOORS
• CONVENIENTLY LOCATED

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $120k.

Deal economics

• At list price, monthly cash flow is $520 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $120k).
• Recommended offer: $113k (6.0% below list) — sets the bar for market timing.
• Cap rate 11.5% 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 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 (+2.5%/yr); 173 active listings in the ZIP; 9 comparable units currently listed for rent nearby; rentals at typical pace (median 23d 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 ($51k/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 $830 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.
• At projected returns (-3.0% appreciation + 2.5% rent growth), your $34k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 70 days — a 6% lower offer ($113k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 18y ago; this cycle's ask has dropped $70k (37%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $18k; list at $120k implies a 567% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 2.7% of price; built in 1930 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $112,800 (6.0% below list)

Questions for the listing agent

1. It's been on market 70 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1930 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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.
7. 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.
8. 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: 1.55% ✓
• Cap rate: 11.50%
• Cash-on-cash: 18.59%
• DSCR: 1.83
• GRM: 5.4

CMA / ARV

• ARV (median comp): $164,789
• List price: $120,000
• Delta: -27.18%
• 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
3018 W 16th St	0.09mi	3/1.5	2,080 (-8%)	3mo	$125,000	$60	78
2522 W 17th St	0.37mi	3/1.5	2,288 (+1%)	6mo	$185,000	$81	74
1032 Groff Ave	0.55mi	3/1.0	2,268 (+0%)	1mo	$175,000	$77	73
1945 N Goodlet Ave	0.33mi	3/2.0	2,400 (+6%)	2mo	$107,500	$45	68
1901 N Moreland Ave	0.30mi	3/1.0	2,056 (-9%)	4mo	$77,000	$37	67
1022 N Goodlet Ave	0.52mi	3/1.0	2,118 (-6%)	1mo	$56,000	$26	65
1909 N Goodlet Ave	0.25mi	4/1.5 (+1)	1,960 (-13%)	2mo	$195,100	$100	58
1114 King Ave	0.52mi	2/1.0 (-1)	2,080 (-8%)	4mo	$125,000	$60	54
1051 N Mount St	0.65mi	3/1.0	1,986 (-12%)	3mo	$123,000	$62	46
1056 N Mount St	0.63mi	4/3.0 (+1)	2,418 (+7%)	5mo	$195,000	$81	42
1047 N Berwick Ave	0.63mi	2/2.5 (-1)	2,552 (+13%)	5mo	$144,000	$56	34
3021 W 10th St	0.57mi	4/2.5 (+1)	2,600 (+15%)	5mo	$140,500	$54	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 · 2.46% rent growth · sell at horizon

5-year hold

• IRR: 9.7%
• Equity multiple: 1.38×
• Total profit: $12,797
• Equity at exit: $17,892

10-year hold

• IRR: 18.4%
• Equity multiple: 2.49×
• Total profit: $50,158
• Equity at exit: $10,375

Cash invested: $33,600 (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 46222

• Home prices YoY: -16.7%
• Rents YoY: 2.5%
• Active inventory: 173
• Price-to-rent: 5.4×

Monthly cashflow live

• Estimated rent: $1,858 high
• Mortgage (P&I): −$629
• Tax from tax record: −$268 /mo · $3,216/yr
• Insurance: −$50
• HOA: −$0
• Vacancy / Maint / Mgmt: −$390
• Net cashflow: $520

Break-even live

Break-even rent $1,199

Max offer price $120,000

Occupancy floor 67%

Sensitivity live

Price	-10% $588	-5% $554	+0% $520	+5% $486	+10% $452
Rent	-10% $374	-5% $447	+0% $520	+5% $594	+10% $667
Rate	-1.0pp $581	-0.5pp $551	base $520	+0.5pp $489	+1.0pp $458

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: $30,000
• Closing costs: $3,600
• Reserves months: —
• Total cash needed: —

Rent comps 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
545 N Goodlet Ave Indianapolis, IN	3.0	1.0	1664	$1,250	$0.75	24d	1	0.91mi
2602 Mansion Dr Indianapolis, IN	2.0–3.0	2.0	1850	$1,675	$0.91	8d	6	0.98mi
742 N Sheffield Ave Unit 1228636P Indianapolis, IN	4.0	2.0	1851	$3,472	$1.88	3d	1	1.01mi
326 N Warman Ave Indianapolis, IN	3.0	2.5	1804	$2,150	$1.19	2d	1	1.26mi
2952 W New York St Indianapolis, IN	2.0	2.5	1882	$2,000	$1.06	2d	1	1.28mi
2952 W New York St Indianapolis, IN	2.0	2.5	1867	$2,000	$1.07	22d	1	1.28mi
234 N Addison St Indianapolis, IN	3.0	2.0	1892	$1,900	$1.00	44d	1	1.43mi
261 N Pershing Ave Indianapolis, IN	2.0	2.0	1764	$1,600	$0.91	24d	1	1.47mi
156 Haugh St Indianapolis, IN	3.0	2.5	1800	$2,000	$1.11	44d	1	1.48mi

Listing history 16 events

1. 2026-04-30
   status Active 375-char remark

   Show marketing remark (375 chars)

   Back on the Market.Spacious 4-bedroom, 2 full bath home with a full basement, ready for someone to add their own TLC. Newer windows already in place, and original hardwood floors are believed to be under the carpet. Great opportunity for an investor or first-time buyer looking to build equity. Conveniently located near major hospitals, IUPUI, highways, and on the bus line.

2. 2026-04-18
   status Pending 375-char remark

   Show marketing remark (375 chars)

   Back on the Market.Spacious 4-bedroom, 2 full bath home with a full basement, ready for someone to add their own TLC. Newer windows already in place, and original hardwood floors are believed to be under the carpet. Great opportunity for an investor or first-time buyer looking to build equity. Conveniently located near major hospitals, IUPUI, highways, and on the bus line.

3. 2026-04-11
   status Active 375-char remark

   Show marketing remark (375 chars)

   Back on the Market.Spacious 4-bedroom, 2 full bath home with a full basement, ready for someone to add their own TLC. Newer windows already in place, and original hardwood floors are believed to be under the carpet. Great opportunity for an investor or first-time buyer looking to build equity. Conveniently located near major hospitals, IUPUI, highways, and on the bus line.

4. 2026-04-11
   price $120,000 375-char remark

   Show marketing remark (375 chars)

   Back on the Market.Spacious 4-bedroom, 2 full bath home with a full basement, ready for someone to add their own TLC. Newer windows already in place, and original hardwood floors are believed to be under the carpet. Great opportunity for an investor or first-time buyer looking to build equity. Conveniently located near major hospitals, IUPUI, highways, and on the bus line.

5. 2026-03-08
   status Pending 375-char remark

   Show marketing remark (375 chars)

   Back on the Market.Spacious 4-bedroom, 2 full bath home with a full basement, ready for someone to add their own TLC. Newer windows already in place, and original hardwood floors are believed to be under the carpet. Great opportunity for an investor or first-time buyer looking to build equity. Conveniently located near major hospitals, IUPUI, highways, and on the bus line.

6. 2026-02-24
   price $150,000 375-char remark

   Show marketing remark (375 chars)

   Back on the Market.Spacious 4-bedroom, 2 full bath home with a full basement, ready for someone to add their own TLC. Newer windows already in place, and original hardwood floors are believed to be under the carpet. Great opportunity for an investor or first-time buyer looking to build equity. Conveniently located near major hospitals, IUPUI, highways, and on the bus line.

7. 2026-02-11
   status Active 375-char remark

   Show marketing remark (375 chars)

   Back on the Market.Spacious 4-bedroom, 2 full bath home with a full basement, ready for someone to add their own TLC. Newer windows already in place, and original hardwood floors are believed to be under the carpet. Great opportunity for an investor or first-time buyer looking to build equity. Conveniently located near major hospitals, IUPUI, highways, and on the bus line.

8. 2026-02-01
   status Pending 375-char remark

   Show marketing remark (375 chars)

   Back on the Market.Spacious 4-bedroom, 2 full bath home with a full basement, ready for someone to add their own TLC. Newer windows already in place, and original hardwood floors are believed to be under the carpet. Great opportunity for an investor or first-time buyer looking to build equity. Conveniently located near major hospitals, IUPUI, highways, and on the bus line.

9. 2026-01-20
   listed $190,000 Active 375-char remark

   Show marketing remark (375 chars)

   Back on the Market.Spacious 4-bedroom, 2 full bath home with a full basement, ready for someone to add their own TLC. Newer windows already in place, and original hardwood floors are believed to be under the carpet. Great opportunity for an investor or first-time buyer looking to build equity. Conveniently located near major hospitals, IUPUI, highways, and on the bus line.

10. 2025-09-26
    historical
11. 2025-05-29
    listed $250,000 Active
12. 2010-01-22
    historical
13. 2009-10-21
    listed $69,000
14. 2009-02-28
    historical
15. 2009-02-27
    soldstatus $18,000
16. 2008-11-14
    listed $17,500

ⓘ 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: $3,216 · $268/mo
• Projected year-2 tax: $3,216 · $268/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 · 19 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: $22,295
• − Mortgage interest: −$6,722
• − Property taxes: −$3,216
• − Insurance: −$600
• − Repairs & maintenance: −$1,784
• − Management: −$1,784
• − Depreciation: −$3,491
• Taxable income: $4,699
• Est. tax owed @ 24.0%: −$1,128
• After-tax cash flow: $5,117/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): 38,887
• Household income: $50,783
• Rent vs Own: 51.7% rent · 48.3% own
• Severe rent burden: 1750.0

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: Highly diverse neighborhood (Simpson 0.72)
• Race & ethnicity: White 32% Black 30% Hispanic / Latino 30% Two or more races 12% Asian 2%
• Hispanic origin (detail): Mexican 24% Puerto Rican 1%
• Common ancestry: Lithuanian 1% Iranian 1% Slovak 1%
• Foreign-born: 21% · Canada, Jamaica
• Languages at home: 67% English-only · Spanish 25% Other Indo-European 3% Arabic 2%

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: ▼ -75.47%
• Current HPI: 375.8479
• Rent YoY: ▲ 2.46%
• 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

+585.7% since first listed

16 events — show timeline

• 2026-04-30 Relisted — MIBOR as Distributed by MLS Grid
• 2026-04-18 Pending — MIBOR as Distributed by MLS Grid
• 2026-04-11 Relisted — MIBOR as Distributed by MLS Grid
• 2026-04-11 Price Changed $120,000 MIBOR as Distributed by MLS Grid
• 2026-03-08 Pending — MIBOR as Distributed by MLS Grid
• 2026-02-24 Price Changed $150,000 MIBOR as Distributed by MLS Grid
• 2026-02-11 Relisted — MIBOR as Distributed by MLS Grid
• 2026-02-01 Pending — MIBOR as Distributed by MLS Grid
• 2026-01-20 Listed $190,000 MIBOR as Distributed by MLS Grid
• 2025-09-26 Listing Removed — MIBOR as Distributed by MLS Grid
• 2025-05-29 Listed $250,000 MIBOR as Distributed by MLS Grid
• 2010-01-22 Listing Removed — MIBOR as Distributed by MLS Grid
• 2009-10-21 Listed $69,000 MIBOR as Distributed by MLS Grid
• 2009-02-28 Listing Removed — MIBOR as Distributed by MLS Grid
• 2009-02-27 Sold (MLS) $18,000 MIBOR as Distributed by MLS Grid
• 2008-11-14 Listed $17,500 MIBOR as Distributed by MLS Grid

Property tax history

+22.0%/yr

Latest (2025): $3,216 · +152.1% YoY. Source: county tax records.