4137 Kenneth Ave · Indianapolis city (balance), IN 46226

$139,900

3 bd · 1.5 ba · 1,080 sqft · SingleFamily public records · 28 Days on market

Built 1965 6,011 sqft lot Est $141k · at est.

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Why this score? — see what drove the D 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 +14.4/30.0
• ARV discount +8.0/15.0
• DSCR +4.4/10.0
• 1% rule +4.2/10.0
• Rent growth +4.2/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.4/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Embrace the potential of this 3-bedroom, 1-bath home in the Devington neighborhood of Indianapolis 46226. With your personal touch, you can transform this residence into a true gem. The interior offers a living area, a functional kitchen, and three cozy bedrooms awaiting your creative updates. This property boasts a generous yard, inviting you to create your own outdoor oasis. Nestled in the Devington community, you'll enjoy proximity to the scenic Devington Park, local schools, and convenient shopping.

Key facts

• Front porch
• Functional layout
• Open flow

Tags

• FRONT PORCH
• MATURE TREES
• FUNCTIONAL LAYOUT
• OPEN FLOW
• KITCHEN AND DINING AREA

Property features AI

Finance

• Other: Property type: Residential; Lot under 1/4 acre

Exterior

• Utilities: Public water; Municipal sewer connected; Solid waste service available
• Home design: Single-family residence; One story
• Construction: Vinyl with brick and brick exterior; Crawl space foundation
• Exterior features: Storage shed

Interior

• Kitchen: Refrigerator; Electric oven; Microwave; Range hood; Microwave hood
• Bedrooms: Three bedrooms on the main level
• Bathrooms: One full bathroom; One half bathroom
• Heating & cooling: Forced air heating (natural gas); Central air conditioning
• Interior features: Eat-in kitchen; Has a view
• Laundry & utility: Dedicated laundry room; Washer; Dryer

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $140k.

Deal economics

• At list price, monthly cash flow is $28 ($335/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 $129k (8.0% below list).
• Recommended offer: $129k (8.0% below list) — sets the bar for 1% rule.
• Cap rate 6.5% 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 D — 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 fast (+6.8%/yr); 151 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 48% of comp listings sitting > 30 days — soft ceiling on asking rent; 1,906 units permitted in Marion County in 2024 (621 in 5+ unit buildings).
• This rent runs 31% of the median local income ($50k/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 $967 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 28 days — a 2% lower offer ($138k) is reasonable based on typical stale-listing flexibility.
• 9 sale attempts since 25y ago; this cycle's ask has dropped $15k (10%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $95k; 47% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Recommended offer $128,693 (8.0% below list)

Questions for the listing agent

1. Built in 1965 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 0.92% ✗
• Cap rate: 6.53%
• Cash-on-cash: 0.85%
• DSCR: 1.04
• GRM: 9.1

CMA / ARV

• ARV (on-the-fly): $141,480
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
4012 N Elizabeth St	0.28mi	3/1.0	1,074 (-1%)	6mo	$166,000	$155	80
4214 N Edmondson Ave	0.20mi	3/2.0	1,116 (+3%)	7mo	$155,000	$139	77
3944 N Elizabeth St	0.33mi	3/1.0	1,053 (-2%)	2mo	$118,000	$112	77
4011 N Kitley Ave	0.40mi	3/1.0	1,152 (+7%)	2mo	$107,050	$93	67
4144 N Edmondson Ave	0.16mi	3/2.0	1,233 (+14%)	8mo	$200,000	$162	60
4443 N Kenyon Dr	0.60mi	3/1.0	1,160 (+7%)	1mo	$133,000	$115	57
6401 E 44th Pl	0.56mi	3/1.0	1,180 (+9%)	0mo	$155,000	$131	56
3910 N Irwin Ave	0.39mi	3/2.0	1,230 (+14%)	2mo	$135,000	$110	55
3808 Elmhurst Dr	0.48mi	3/1.0	994 (-8%)	10mo	$104,000	$105	54
4502 N Kitley Ave	0.61mi	3/1.5	1,160 (+7%)	7mo	$135,000	$116	53
3811 N Sheridan Ave	0.71mi	3/1.0	1,142 (+6%)	4mo	$185,000	$162	51
3945 N Ridgeview Dr	0.54mi	3/2.0	1,176 (+9%)	9mo	$177,900	$151	50

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 · 6.76% rent growth · sell at horizon

5-year hold

• IRR: -10.7%
• Equity multiple: 0.60×
• Total profit: $-15,808
• Equity at exit: $20,860

10-year hold

• IRR: 3.3%
• Equity multiple: 1.28×
• Total profit: $11,059
• Equity at exit: $12,096

Cash invested: $39,172 (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 46226

• Rents YoY: 6.8%
• Active inventory: 151
• Price-to-rent: 9.1×

Monthly cashflow live

• Estimated rent: $1,287 high
• Mortgage (P&I): −$734
• Tax from tax record: −$197 /mo · $2,362/yr
• Insurance: −$58
• HOA: −$0
• Vacancy / Maint / Mgmt: −$270
• Net cashflow: $28

Break-even live

Break-even rent $1,252

Max offer price $139,900

Occupancy floor 93%

Sensitivity live

Price	-10% $107	-5% $67	+0% $28	+5% $-12	+10% $-51
Rent	-10% $-74	-5% $-23	+0% $28	+5% $79	+10% $130
Rate	-1.0pp $98	-0.5pp $63	base $28	+0.5pp $-8	+1.0pp $-45

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: $34,975
• Closing costs: $4,197
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3900 N Shadeland Ave Indianapolis, IN	1.0–2.0	1.0	1070	$1,075	$1.00	3d	6	0.19mi
4307 N Edmondson Ave Indianapolis, IN	3.0	1.0	900	$1,299	$1.44	2d	1	0.28mi
3775 Allerton Pl Indianapolis, IN	1.0–4.0	2.0	1068	$1,617	$1.51	14d	1	0.57mi
6563 E 46th St Indianapolis, IN	3.0	1.5	1185	$1,250	$1.05	5d	1	0.69mi
4511 N Kenmore Rd Indianapolis, IN	4.0	2.0	1200	$2,095	$1.75	5d	1	0.77mi
7171 Twin Oaks Dr Indianapolis, IN	3.0	1.0–1.5	801	$1,399	$1.75	24d	9	0.78mi
4411 Park Forest Ct Indianapolis, IN	2.0	1.0	928	$1,180	$1.27	44d	1	0.80mi
4404 Park Forest Ct Indianapolis, IN	2.0	1.0	928	$1,180	$1.27	22d	2	0.82mi
4437 Park Forest Ct Indianapolis, IN	2.0	1.0	928	$1,180	$1.27	44d	1	0.83mi
4445 Park Forest Ct Indianapolis, IN	2.0	1.0	928	$1,180	$1.27	3d	1	0.84mi
4430 Park Forest Ct Indianapolis, IN	2.0	1.0	928	$1,180	$1.27	44d	1	0.85mi
4521 Park Forest Ct Indianapolis, IN	2.0	1.0	700	$1,180	$1.69	4d	1	0.85mi
4438 Park Forest Ct Indianapolis, IN	2.0	1.0	928	$1,180	$1.27	44d	1	0.86mi
7531 Penway St Indianapolis, IN	3.0	1.5	1237	$1,551	$1.25	8d	1	0.89mi
3912 N Webster Ave Indianapolis, IN	4.0	1.0	1274	$1,350	$1.06	22d	1	0.89mi
4504 Park Forest Ct Indianapolis, IN	2.0	1.0	928	$1,180	$1.27	3d	1	0.89mi
4537 Park Forest Ct Indianapolis, IN	2.0	1.0	928	$1,180	$1.27	44d	1	0.90mi
4545 Park Forest Ct Indianapolis, IN	2.0	1.0	928	$1,180	$1.27	44d	1	0.91mi
4405 Park Forest Ct Indianapolis, IN	2.0	1.0	928	$1,180	$1.27	24d	1	0.92mi
4839 N Kenmore Rd Indianapolis, IN	3.0	2.0	1215	$1,533	$1.26	22d	1	0.97mi
4555 N Arlington Ave Indianapolis, IN	1.0–3.0	1.0–1.5	880	$1,379	$1.57	4d	30	1.03mi
7975 Red Mill Dr Indianapolis, IN	2.0	1.0	576	$975	$1.69	44d	1	1.04mi
7925 Crossbridge Dr Indianapolis, IN	2.0	2.0	1072	$1,200	$1.12	44d	1	1.10mi
3836 Priscilla Ave Indianapolis, IN	3.0	1.5	1040	$1,275	$1.23	2d	1	1.16mi
5865 E 46th St Indianapolis, IN	3.0	2.0	1400	$1,500	$1.07	44d	1	1.19mi
6118 Dickson Rd Apt 3 Indianapolis, IN	2.0	1.0	750	$950	$1.27	44d	1	1.23mi
6049 Dickson Rd Apt 4 Indianapolis, IN	2.0	1.0	750	$950	$1.27	44d	1	1.24mi
6108 Dickson Rd Unit 3 Indianapolis, IN	2.0	1.0	750	$900	$1.20	44d	1	1.24mi
6048 Dickson Rd #3 Indianapolis, IN	2.0	1.0	725	$900	$1.24	44d	1	1.27mi
6111 Laurel Hall Dr #1 Indianapolis, IN	2.0	1.0	725	$950	$1.31	24d	1	1.28mi
6111 Laurel Hall Dr #3 Indianapolis, IN	2.0	1.0	725	$950	$1.31	44d	1	1.28mi
6015 Dickson Rd #1 Indianapolis, IN	2.0	1.0	825	$950	$1.15	44d	1	1.28mi
6005 Dickson Rd Unit 4 Indianapolis, IN	2.0	1.0	873	$725	$0.83	44d	1	1.29mi
5602 Glencoe St Indianapolis, IN	3.0	1.0	1000	$1,749	$1.75	18d	1	1.29mi
6051 Laurel Hall Dr Apt 4 Indianapolis, IN	2.0	1.0	750	$950	$1.27	44d	1	1.30mi
3718 N Audubon Rd Indianapolis, IN	3.0	1.0	875	$1,300	$1.49	24d	1	1.33mi
3513 Roseway Dr Indianapolis, IN	3.0	2.0	1216	$1,600	$1.32	18d	1	1.33mi
6028 Laurel Hall Dr #3 Indianapolis, IN	2.0	1.0	875	$950	$1.09	44d	1	1.36mi
8254 Meadowlark Dr Indianapolis, IN	3.0	1.5	1320	$1,150	$0.87	22d	1	1.38mi
8254 Meadowlark Dr Unit 1 Indianapolis, IN	3.0	1.5	1320	$1,150	$0.87	44d	1	1.38mi

Listing history 31 events

1. 2026-06-18
   days on market $139,900 Active 28 DOM
2. 2026-06-17
   days on market $139,900 Active 27 DOM
3. 2026-06-16
   days on market $139,900 Active 26 DOM
4. 2026-06-15
   days on market $139,900 Active 25 DOM
5. 2026-06-13
   days on market $139,900 Active 23 DOM
6. 2026-06-13
   pricedays on market $139,900 Active 22 DOM
7. 2026-06-09
   days on market $149,000 Active 19 DOM
8. 2026-06-08
   days on market $149,000 Active 18 DOM
9. 2026-06-07
   days on market $149,000 Active 17 DOM
10. 2026-06-03
    days on market $149,000 Active 13 DOM
11. 2026-06-02
    days on market $149,000 Active 12 DOM
12. 2026-06-01
    days on market $149,000 Active 11 DOM
13. 2026-05-31
    days on market $149,000 Active 10 DOM
14. 2026-05-21
    status Active
15. 2026-05-05
    status Pending
16. 2026-05-05
    listed $155,000 Active
17. 2023-09-08
    soldstatus $94,900 Closed 508-char remark

    Show marketing remark (508 chars)

    Embrace the potential of this 3-bedroom, 1-bath home in the Devington neighborhood of Indianapolis 46226. With your personal touch, you can transform this residence into a true gem. The interior offers a living area, a functional kitchen, and three cozy bedrooms awaiting your creative updates. This property boasts a generous yard, inviting you to create your own outdoor oasis. Nestled in the Devington community, you'll enjoy proximity to the scenic Devington Park, local schools, and convenient shopping.

18. 2023-08-31
    status Pending 508-char remark

    Show marketing remark (508 chars)

    Embrace the potential of this 3-bedroom, 1-bath home in the Devington neighborhood of Indianapolis 46226. With your personal touch, you can transform this residence into a true gem. The interior offers a living area, a functional kitchen, and three cozy bedrooms awaiting your creative updates. This property boasts a generous yard, inviting you to create your own outdoor oasis. Nestled in the Devington community, you'll enjoy proximity to the scenic Devington Park, local schools, and convenient shopping.

19. 2023-08-23
    listed $94,900 Active 508-char remark

    Show marketing remark (508 chars)

    Embrace the potential of this 3-bedroom, 1-bath home in the Devington neighborhood of Indianapolis 46226. With your personal touch, you can transform this residence into a true gem. The interior offers a living area, a functional kitchen, and three cozy bedrooms awaiting your creative updates. This property boasts a generous yard, inviting you to create your own outdoor oasis. Nestled in the Devington community, you'll enjoy proximity to the scenic Devington Park, local schools, and convenient shopping.

20. 2011-02-10
    historical
21. 2010-11-15
    listed $50,000
22. 2006-07-21
    historical
23. 2006-03-29
    listed $65,900
24. 2003-01-29
    soldstatus $29,900
25. 2002-10-01
    listed $37,900
26. 2002-09-17
    historical
27. 2002-06-17
    listed $45,900
28. 2001-10-01
    historical
29. 2001-08-20
    historical
30. 2001-03-31
    listed $69,900
31. 2001-02-20
    listed $75,000

ⓘ 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: $2,362 · $197/mo
• Projected year-2 tax: $2,362 · $197/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 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 3/10 Moderate 3 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,443
• − Mortgage interest: −$7,837
• − Property taxes: −$2,362
• − Insurance: −$700
• − Repairs & maintenance: −$1,235
• − Management: −$1,235
• − Depreciation: −$4,070
• Taxable loss: −$1,996
• Est. tax savings @ 24.0%: +$479
• After-tax cash flow: $814/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): 47,099
• Household income: $50,325
• Rent vs Own: 53.8% rent · 46.2% own
• Severe rent burden: 2742.0

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 0.62)
• Race & ethnicity: Black 53% White 25% Hispanic / Latino 17% Two or more races 9% Asian 2%
• Hispanic origin (detail): Mexican 11%
• Common ancestry: Lithuanian 1% Italian 1% Romanian 1%
• Foreign-born: 11% · Canada
• Languages at home: 86% English-only · Spanish 10% French/Haitian/Cajun 1% Other Asian/Pacific 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: ▼ -218.85%
• Current HPI: 239.43
• Rent YoY: ▲ 6.76%
• 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

+106.7% since first listed

18 events — show timeline

• 2026-05-21 Relisted — MIBOR as Distributed by MLS Grid
• 2026-05-05 Pending — MIBOR as Distributed by MLS Grid
• 2026-05-05 Listed $155,000 MIBOR as Distributed by MLS Grid
• 2023-09-08 Sold (MLS) $94,900 MIBOR as Distributed by MLS Grid
• 2023-08-31 Pending — MIBOR as Distributed by MLS Grid
• 2023-08-23 Listed $94,900 MIBOR as Distributed by MLS Grid
• 2011-02-10 Listing Removed — MIBOR as Distributed by MLS Grid
• 2010-11-15 Listed $50,000 MIBOR as Distributed by MLS Grid
• 2006-07-21 Listing Removed — MIBOR as Distributed by MLS Grid
• 2006-03-29 Listed $65,900 MIBOR as Distributed by MLS Grid
• 2003-01-29 Sold (MLS) $29,900 MIBOR as Distributed by MLS Grid
• 2002-10-01 Listed $37,900 MIBOR as Distributed by MLS Grid
• 2002-09-17 Listing Removed — MIBOR as Distributed by MLS Grid
• 2002-06-17 Listed $45,900 MIBOR as Distributed by MLS Grid
• 2001-10-01 Listing Removed — MIBOR as Distributed by MLS Grid
• 2001-08-20 Listing Removed — MIBOR as Distributed by MLS Grid
• 2001-03-31 Listed $69,900 MIBOR as Distributed by MLS Grid
• 2001-02-20 Listed $75,000 MIBOR as Distributed by MLS Grid

Property tax history

+4.2%/yr

Latest (2025): $2,362 · +8.6% YoY. Source: county tax records.