3022 N Tacoma Ave · Indianapolis city (balance), IN 46218

$75,000

2 bd · 1.0 ba · 768 sqft · SingleFamily public records · 83 Days on market

Built 1949 6,839 sqft lot $98/sqft · 25% below area Est $100k · 25% under ↓ 9% 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
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +9.7/10.0
• 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

This cottage catches your eye with its character and invites a closer look. Inside, the layout offers more space than expected and plenty of potential to make it your own. It's a great opportunity for someone ready to add value and personalize a home. Built in 1949, this single-level home offers 768 square feet per county records with three bedrooms and one full bathroom. The vinyl exterior and windows keep things simple, though some window frames are currently secured with tape. A detached one-car garage is included but is in poor condition, leaning and showing structural concerns that may require repair or replacement.

Key facts

• 6,839 sq ft lot
• Garage
• Built 1949

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $75k.

Deal economics

• At list price, monthly cash flow is $353 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $75k).
• Recommended offer: $70k (6.0% below list) — sets the bar for market timing.
• Cap rate 11.9% 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 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 35% 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 $519 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 + 0.8% rent growth), your $21k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 83 days — a 6% lower offer ($70k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1949 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $70,500 (6.0% below list)

Questions for the listing agent

1. It's been on market 83 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 1949 — 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: 1.47% ✓
• Cap rate: 11.94%
• Cash-on-cash: 20.16%
• DSCR: 1.90
• GRM: 5.7

CMA / ARV

• ARV (median comp): $100,305
• List price: $75,000
• Delta: -25.23%
• 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
3135 N Temple Ave	0.18mi	1/1.0 (-1)	725 (-6%)	4mo	$78,000	$108	74
3105 N Tacoma Ave	0.11mi	2/1.0	696 (-9%)	10mo	$137,500	$198	71
3061 N Tacoma Ave	0.08mi	2/1.0	672 (-12%)	6mo	$43,000	$64	70
2839 N Lasalle St	0.60mi	2/1.0	768 (0%)	5mo	$55,000	$72	68
3114 Adams St	0.58mi	2/1.0	725 (-6%)	3mo	$63,000	$87	61
2942 N Dearborn St	0.46mi	2/1.0	825 (+7%)	7mo	$70,000	$85	60
2959 N Lasalle St	0.55mi	2/1.0	720 (-6%)	11mo	$59,900	$83	55
2724 N Dearborn St	0.59mi	2/1.0	720 (-6%)	10mo	$95,000	$132	54
3015 Adams St	0.61mi	2/1.0	819 (+7%)	9mo	$155,000	$189	53
3511 N Keystone Ave	0.61mi	2/1.0	837 (+9%)	10mo	$113,500	$136	48
2347 N Rural St	0.74mi	2/1.0	864 (+12%)	4mo	$50,000	$58	42
2818 N Lasalle St	0.59mi	3/2.0 (+1)	875 (+14%)	2mo	$195,000	$223	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: 9.9%
• Equity multiple: 1.38×
• Total profit: $7,957
• Equity at exit: $11,183

10-year hold

• IRR: 17.1%
• Equity multiple: 2.27×
• Total profit: $26,594
• Equity at exit: $6,485

Cash invested: $21,000 (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: 5.7×

Monthly cashflow live

• Estimated rent: $1,103 high
• Mortgage (P&I): −$393
• Tax est. 1.5%: −$94 /mo · $1,125/yr
• Insurance: −$31
• HOA: −$0
• Vacancy / Maint / Mgmt: −$232
• Net cashflow: $353

Break-even live

Break-even rent $656

Max offer price $75,000

Occupancy floor 63%

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: $18,750
• Closing costs: $2,250
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2931 N Tacoma Ave Unit 31 Indianapolis, IN	2.0	1.0	800	$950	$1.19	8d	1	0.10mi
2820 Caroline Ave Indianapolis, IN	3.0	1.5	1112	$1,250	$1.12	24d	1	0.33mi
2930 N Dearborn St Indianapolis, IN	1.0	1.0	536	$599	$1.12	24d	1	0.47mi
2530 N Temple Ave Indianapolis, IN	1.0	1.0	720	$750	$1.04	20d	1	0.47mi
2920 N Lasalle St Indianapolis, IN	3.0	1.0	875	$1,095	$1.25	18d	1	0.54mi
3363 Nicholas Ave Indianapolis, IN	2.0	1.0	720	$1,000	$1.39	4d	1	0.54mi
2821 Oxford Ln Indianapolis, IN	1.0	1.0	640	$825	$1.29	44d	1	0.56mi
2010 E 25th St Indianapolis, IN	2.0	1.0	792	$775	$0.98	24d	1	0.57mi
2949 Adams St Indianapolis, IN	2.0	1.0	978	$1,150	$1.18	44d	1	0.62mi
3011 Oxford Ln Indianapolis, IN	1.0	1.0	640	$800	$1.25	44d	1	0.63mi
2449 Wheeler St Indianapolis, IN	1.0	1.0	600	$950	$1.58	24d	1	0.69mi
3207 N Arsenal Ave Indianapolis, IN	3.0	1.0	994	$1,195	$1.20	24d	1	0.70mi
2372 Beckwith Dr Indianapolis, IN	4.0	1.0–1.5	779	$1,064	$1.36	2d	32	0.73mi
3472 N Dearborn St Indianapolis, IN	2.0	1.0	890	$1,099	$1.23	20d	1	0.77mi
3535 N Oxford St Indianapolis, IN	3.0	1.0	1015	$1,500	$1.48	22d	1	0.77mi
1902 E 35th St Indianapolis, IN	3.0	1.0	1100	$1,600	$1.45	44d	1	0.77mi
2722 N Olney St Indianapolis, IN	2.0	1.0	650	$795	$1.22	44d	1	0.80mi
3132 Dr Andrew J Brown Ave Indianapolis, IN	2.0	1.0–2.0	791	$2,120	$2.68	2d	46	0.83mi
2422 Adams St Unit 2 Indianapolis, IN	1.0	1.0	700	$850	$1.21	44d	1	0.83mi
2410 Adams St Indianapolis, IN	3.0	1.0	900	$1,200	$1.33	11d	1	0.85mi
3719 Hillside Ave Indianapolis, IN	1.0	1.0	644	$725	$1.13	24d	1	0.90mi
3709 Kinnear Ave Indianapolis, IN	2.0	1.0	650	$1,000	$1.54	44d	1	0.92mi
3421 N Olney St Indianapolis, IN	2.0	1.0	720	$1,195	$1.66	16d	1	0.93mi
2549 Columbia Ave Unit 1332865P Indianapolis, IN	3.0	2.0	893	$2,274	$2.55	2d	1	0.93mi
3741 N Tacoma Ave Indianapolis, IN	3.0	1.0	913	$2,200	$2.41	18d	1	0.94mi
3763 Baltimore Ave Unit 3765 Indianapolis, IN	1.0	1.0	750	$750	$1.00	44d	1	0.96mi
3723 Orchard Ave Unit 3723 Indianapolis, IN	1.0	1.5	700	$1,300	$1.86	24d	1	0.96mi
3522 N Olney St Indianapolis, IN	3.0	1.0	768	$1,300	$1.69	44d	1	0.99mi
3139 Guilford Ave Indianapolis, IN	3.0	1.0	1068	$1,345	$1.26	44d	1	0.99mi
3383 Station St Indianapolis, IN	3.0	1.0	744	$1,250	$1.68	24d	1	1.01mi
3203 Sutherland Ave Unit 1310761P Indianapolis, IN	2.0	1.0	1097	$3,668	$3.34	2d	1	1.07mi
3920 E 30th St Indianapolis, IN	3.0	1.0	1071	$1,350	$1.26	8d	1	1.10mi
3920 E 30th St Indianapolis, IN	3.0	1.0	1071	$1,350	$1.26	4d	1	1.10mi
2862 N Chester Ave Indianapolis, IN	3.0	2.0	1076	$1,520	$1.41	44d	1	1.15mi
2045 N Dearborn St Indianapolis, IN	3.0	2.0	912	$1,145	$1.26	24d	1	1.17mi
3609 Balsam Ave Indianapolis, IN	1.0	1.0	541	$755	$1.40	15d	1	1.18mi
3609 Balsam Ave Indianapolis, IN	1.0	1.0	541	$775	$1.43	3d	1	1.18mi
3610 Balsam Ave Indianapolis, IN	1.0	1.0	464	$775	$1.67	3d	9	1.20mi
2529 Guilford Ave Unit A Indianapolis, IN	2.0	1.5	1000	$1,495	$1.50	44d	1	1.20mi
2864 Forest Manor Ave Indianapolis, IN	3.0	1.0	1018	$1,500	$1.47	24d	1	1.23mi

Listing history 15 events

1. 2026-06-18
   days on market $75,000 Active 83 DOM
2. 2026-06-17
   days on market $75,000 Active 82 DOM
3. 2026-06-16
   days on market $75,000 Active 81 DOM
4. 2026-06-15
   days on market $75,000 Active 80 DOM
5. 2026-06-13
   days on market $75,000 Active 78 DOM
6. 2026-06-13
   pricedays on market $75,000 Active 77 DOM
7. 2026-06-09
   days on market $88,000 Active 74 DOM
8. 2026-06-08
   days on market $88,000 Active 73 DOM
9. 2026-06-07
   days on market $88,000 Active 72 DOM
10. 2026-06-03
    days on market $88,000 Active 68 DOM
11. 2026-06-02
    days on market $88,000 Active 67 DOM
12. 2026-06-01
    days on market $88,000 Active 66 DOM
13. 2026-05-31
    days on market $88,000 Active 65 DOM
14. 2026-05-08
    price $98,000 631-char remark

    Show marketing remark (631 chars)

    This cottage catches your eye with its character and invites a closer look. Inside, the layout offers more space than expected and plenty of potential to make it your own. It's a great opportunity for someone ready to add value and personalize a home. Built in 1949, this single-level home offers 768 square feet per county records with three bedrooms and one full bathroom. The vinyl exterior and windows keep things simple, though some window frames are currently secured with tape. A detached one-car garage is included but is in poor condition, leaning and showing structural concerns that may require repair or replacement.

15. 2026-03-27
    listed $108,000 Active 631-char remark

    Show marketing remark (631 chars)

    This cottage catches your eye with its character and invites a closer look. Inside, the layout offers more space than expected and plenty of potential to make it your own. It's a great opportunity for someone ready to add value and personalize a home. Built in 1949, this single-level home offers 768 square feet per county records with three bedrooms and one full bathroom. The vinyl exterior and windows keep things simple, though some window frames are currently secured with tape. A detached one-car garage is included but is in poor condition, leaning and showing structural concerns that may require repair or replacement.

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone X (unshaded) · 71% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥102°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: $13,232
• − Mortgage interest: −$4,201
• − Property taxes: −$1,125
• − Insurance: −$375
• − Repairs & maintenance: −$1,059
• − Management: −$1,059
• − Depreciation: −$2,182
• Taxable income: $3,232
• Est. tax owed @ 24.0%: −$776
• After-tax cash flow: $3,458/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

-9.3% since first listed

2 events — show timeline

• 2026-05-08 Price Changed $98,000 MIBOR as Distributed by MLS Grid
• 2026-03-27 Listed $108,000 MIBOR as Distributed by MLS Grid

Property tax history

+2.2%/yr

Latest (2025): $91 · +2.0% YoY. Source: county tax records.