1528 N Tacoma Ave · Indianapolis city (balance), IN 46201

$80,000

3 bd · 9.0 ba · 1,284 sqft · MultiFamily public records · 40 Days on market

Built 1910 2,134 sqft lot Est $154k · 48% 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 +15.0/30.0
• ARV discount +15.0/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Rent growth +4.3/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.4/10.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 3 units. confirmed

Listing remarks MLS

3 unit investment property in need of repairs. Each unit has separately metered water, gas, and electric.

Key facts

• Blank slate
• Separate units
• 2,134 sq ft lot

Tags

• TRIPLEX IN BROOKSIDE PARK
• SEPARATE UNITS
• BLANK SLATE
• REVITALIZATION NEARBY

What this means for you Summary

Snapshot

• This is a 3 × 3-bed/3.0-bath units multifamily listed at $80k.

Deal economics

• At list price, monthly cash flow is $2k ($25k/yr) — positive. Per door: $701/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $80k).
• Recommended offer: $78k (3.0% below list) — sets the bar for market timing.
• Cap rate 37.9% 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 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 rising fast (+7.3%/yr); 480 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); 1,906 units permitted in Marion County in 2024 (621 in 5+ unit buildings).
• At $3,617/mo this rent would consume 88% of the median local household income ($49k/yr) (locally 1906% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $553 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 + 7.3% rent growth), your $22k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 40 days — a 3% lower offer ($78k) is reasonable based on typical stale-listing flexibility.
• 11 sale attempts since 23y 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 $12k; list at $80k implies a 587% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 4.5% of price; built in 1910 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $77,600 (3.0% below list)

Questions for the listing agent

1. It's been on market 40 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1910 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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.
8. 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.
9. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 4.52% ✓
• Cap rate: 37.86%
• Cash-on-cash: 112.74%
• DSCR: 6.02
• GRM: 1.8

CMA / ARV

• ARV (on-the-fly): $154,080
• Comps found: 7

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2522 E 16th St	0.06mi	2/2.0 (-1)	1,300 (+1%)	14mo	$184,000	$142	63
2626 E Brookside Ave	0.34mi	4/2.0 (+1)	1,232 (-4%)	1mo	$80,000	$65	56
2909-2911 E Brookside Ave	0.51mi	2/2.0 (-1)	1,244 (-3%)	0mo	$135,000	$109	51
1315 N Rural St	0.26mi	2/2.0 (-1)	1,392 (+8%)	5mo	$82,000	$59	50
944 N Hamilton Ave	0.56mi	2/2.0 (-1)	1,400 (+9%)	8mo	$170,000	$121	32
826 N Beville Ave	0.64mi	3/1.0	1,472 (+15%)	1mo	$236,000	$160	25
2921 E 18th St E	0.36mi	2/2.0 (-1)	1,456 (+13%)	20mo	$175,000	$120	24

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 · 7.31% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 7.14×
• Total profit: $137,614
• Equity at exit: $11,928

10-year hold

• IRR: —
• Equity multiple: 17.36×
• Total profit: $366,554
• Equity at exit: $6,917

Cash invested: $22,400 (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 46201

• Home prices YoY: -33.9%
• Rents YoY: 7.3%
• Active inventory: 480
• Price-to-rent: 5.5×

Monthly cashflow live

• Estimated rent: $3,617 medium
• Mortgage (P&I): −$420
• Tax from tax record: −$300 /mo · $3,601/yr
• Insurance: −$33
• HOA: −$0
• Vacancy / Maint / Mgmt: −$760
• Net cashflow: $2,104

Break-even live

Break-even rent $953

Max offer price $80,000

Occupancy floor 37%

3-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 3× units	3	3	$3,618
Total (3 units)			$3,617

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: $20,000
• Closing costs: $2,400
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2418 E 16th St Indianapolis, IN	2.0	1.5	1863	$2,125	$1.14	24d	1	0.04mi
2407 E 16th St Indianapolis, IN	3.0	1.0	1212	$1,450	$1.20	24d	1	0.05mi
2405 E 16th St Indianapolis, IN	3.0	1.0	1120	$1,450	$1.29	15d	1	0.05mi
2330 E 16th St Indianapolis, IN	3.0	1.5	1378	$1,450	$1.05	4d	1	0.09mi
1550 N Rural St Indianapolis, IN	3.0	1.0	1388	$1,600	$1.15	44d	1	0.17mi
1623 N Rural St Indianapolis, IN	2.0	1.0	1452	$875	$0.60	44d	1	0.22mi
2310 E 12th St Indianapolis, IN	2.0	1.0	900	$1,200	$1.33	44d	1	0.29mi
2224 Langley Ave Indianapolis, IN	4.0	2.0	1513	$1,595	$1.05	44d	1	0.37mi
2822 E 19th St Indianapolis, IN	3.0	2.0	1130	$1,300	$1.15	44d	1	0.38mi
2815 Brookside Ave Indianapolis, IN	3.0	2.0	1120	$1,350	$1.21	11d	1	0.39mi
1112 N Rural St Unit 1110 Indianapolis, IN	2.0	1.5	1204	$1,150	$0.96	24d	1	0.40mi
1113 N Oxford St Indianapolis, IN	3.0	2.0	1100	$1,495	$1.36	8d	1	0.44mi
1214 N Oakland Ave Indianapolis, IN	3.0	2.0	1464	$1,350	$0.92	14d	1	0.47mi
1216 N Oakland Ave Indianapolis, IN	3.0	2.0	1464	$1,550	$1.06	14d	1	0.48mi
960 Eastern Ave Indianapolis, IN	3.0	1.5	1616	$1,500	$0.93	24d	1	0.48mi
960 Eastern Ave Indianapolis, IN	3.0	1.5	1616	$1,500	$0.93	44d	1	0.48mi
1036 N Parker Ave Indianapolis, IN	4.0	2.0	1342	$1,745	$1.30	4d	1	0.50mi
1038 N Parker Ave Indianapolis, IN	4.0	2.0	1342	$1,745	$1.30	4d	1	0.50mi
1717 Ingram St Unit 1717 Indianapolis, IN	3.0	2.0	1250	$1,500	$1.20	44d	1	0.54mi
929 N Beville Ave Indianapolis, IN	3.0	1.0	1328	$1,395	$1.05	24d	1	0.54mi
1719 Ingram St Unit 1719 Indianapolis, IN	3.0	2.0	1250	$1,500	$1.20	44d	1	0.54mi
940 Jefferson Ave Unit 1 Indianapolis, IN	3.0	1.5	1500	$1,400	$0.93	22d	1	0.55mi
1938 N Dearborn St Indianapolis, IN	3.0	1.0	1162	$1,400	$1.20	24d	1	0.56mi
1722 Ingram St Indianapolis, IN	3.0	2.0	1250	$1,550	$1.24	4d	1	0.56mi
1722 Ingram St Unit A Indianapolis, IN	3.0	2.0	1250	$1,550	$1.24	8d	1	0.56mi
3030 E 10th St Indianapolis, IN	2.0	1.0	950	$900	$0.95	22d	1	0.58mi
1119 N Dearborn St Indianapolis, IN	3.0	1.5	1200	$1,249	$1.04	44d	1	0.59mi
3101 E 10th St #301 Indianapolis, IN	2.0	1.0	921	$1,195	$1.30	44d	1	0.60mi
852 N Rural St Indianapolis, IN	2.0	1.5	1528	$1,300	$0.85	24d	1	0.63mi
1505 N Tuxedo St Unit 1507 Indianapolis, IN	2.0	1.0	1000	$1,100	$1.10	44d	1	0.63mi
851 N Rural St Indianapolis, IN	3.0	2.5	1300	$1,700	$1.31	24d	1	0.64mi
849 N Rural St Unit 849 Indianapolis, IN	3.0	2.5	1300	$2,000	$1.54	44d	1	0.64mi
826 N Beville Ave Indianapolis, IN	3.0	1.0	1472	$1,295	$0.88	2d	1	0.65mi
826 N Beville Ave Indianapolis, IN	3.0	1.0	1472	$1,295	$0.88	4d	1	0.65mi
1730 Alloy Dr Indianapolis, IN	2.0	2.5	1350	$2,400	$1.78	24d	1	0.67mi
945 Woodruff Place Middle Dr Unit 4 Indianapolis, IN	2.0	1.5	1532	$1,595	$1.04	44d	1	0.67mi
2045 N Dearborn St Indianapolis, IN	3.0	2.0	912	$1,145	$1.26	24d	1	0.69mi
835 Tecumseh St Indianapolis, IN	3.0	2.0	1100	$1,550	$1.41	4d	1	0.69mi
1421 N Olney St Indianapolis, IN	2.0	1.0	1064	$975	$0.92	11d	1	0.71mi
849 N Oakland Ave Indianapolis, IN	4.0	3.0	1638	$2,350	$1.43	12d	1	0.72mi

Listing history 27 events

1. 2024-12-27
   status Pending
2. 2024-12-10
   status Active
3. 2024-12-02
   status Pending
4. 2024-11-08
   listed $80,000 Active
5. 2019-09-13
   soldstatus $11,650 Sold 106-char remark

   Show marketing remark (106 chars)

   3 unit investment property in need of repairs. Each unit has separately metered water, gas, and electric.

6. 2019-08-26
   status Pending 106-char remark

   Show marketing remark (106 chars)

   3 unit investment property in need of repairs. Each unit has separately metered water, gas, and electric.

7. 2019-08-20
   price $14,900 106-char remark

   Show marketing remark (106 chars)

   3 unit investment property in need of repairs. Each unit has separately metered water, gas, and electric.

8. 2019-08-17
   price $21,900 106-char remark

   Show marketing remark (106 chars)

   3 unit investment property in need of repairs. Each unit has separately metered water, gas, and electric.

9. 2019-08-13
   price $24,900 106-char remark

   Show marketing remark (106 chars)

   3 unit investment property in need of repairs. Each unit has separately metered water, gas, and electric.

10. 2019-07-25
    price $30,000 106-char remark

    Show marketing remark (106 chars)

    3 unit investment property in need of repairs. Each unit has separately metered water, gas, and electric.

11. 2019-06-20
    listed $49,900 Active 106-char remark

    Show marketing remark (106 chars)

    3 unit investment property in need of repairs. Each unit has separately metered water, gas, and electric.

12. 2018-12-18
    historical
13. 2018-11-24
    listed $21,900 Active
14. 2009-08-09
    historical
15. 2009-05-12
    listed $86,500
16. 2008-03-18
    soldstatus $4,500
17. 2008-03-18
    soldstatus $4,500
18. 2007-05-15
    listed $12,900
19. 2006-12-28
    historical
20. 2006-11-30
    historical
21. 2006-11-10
    listed $12,900
22. 2005-11-14
    listed $29,900
23. 2005-08-05
    listed $29,900
24. 2005-06-07
    soldstatus $69,900
25. 2005-04-30
    historical
26. 2004-12-20
    listed $74,900
27. 2003-08-06
    listed $74,900

ⓘ 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: $3,601 · $300/mo
• Projected year-2 tax: $3,601 · $300/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 ≥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: $43,404
• − Mortgage interest: −$4,481
• − Property taxes: −$3,601
• − Insurance: −$400
• − Repairs & maintenance: −$3,472
• − Management: −$3,472
• − Depreciation: −$2,327
• Taxable income: $25,650
• Est. tax owed @ 24.0%: −$6,156
• After-tax cash flow: $19,098/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): 30,335
• Household income: $49,195
• Rent vs Own: 48.4% rent · 51.6% own
• Severe rent burden: 1906.0

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 0.63)
• Race & ethnicity: White 53% Hispanic / Latino 23% Black 18% Two or more races 9%
• Hispanic origin (detail): Mexican 14% Puerto Rican 2%
• Common ancestry: Slovak 2% Lithuanian 2% Italian 1%
• Foreign-born: 9% · Canada
• Languages at home: 81% English-only · Spanish 17%

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: ▼ -192.51%
• Current HPI: 375.0969
• Rent YoY: ▲ 7.31%
• 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

+6.8% since first listed

27 events — show timeline

• 2024-12-27 Pending — MIBOR as Distributed by MLS Grid
• 2024-12-10 Relisted — MIBOR as Distributed by MLS Grid
• 2024-12-02 Pending — MIBOR as Distributed by MLS Grid
• 2024-11-08 Listed $80,000 MIBOR as Distributed by MLS Grid
• 2019-09-13 Sold (MLS) $11,650 MIBOR as Distributed by MLS Grid
• 2019-08-26 Pending — MIBOR as Distributed by MLS Grid
• 2019-08-20 Price Changed $14,900 MIBOR as Distributed by MLS Grid
• 2019-08-17 Price Changed $21,900 MIBOR as Distributed by MLS Grid
• 2019-08-13 Price Changed $24,900 MIBOR as Distributed by MLS Grid
• 2019-07-25 Price Changed $30,000 MIBOR as Distributed by MLS Grid
• 2019-06-20 Listed $49,900 MIBOR as Distributed by MLS Grid
• 2018-12-18 Listing Removed — MIBOR as Distributed by MLS Grid
• 2018-11-24 Listed $21,900 MIBOR as Distributed by MLS Grid
• 2009-08-09 Listing Removed — MIBOR as Distributed by MLS Grid
• 2009-05-12 Listed $86,500 MIBOR as Distributed by MLS Grid
• 2008-03-18 Sold (MLS) $4,500 MIBOR as Distributed by MLS Grid
• 2008-03-18 Sold (MLS) $4,500 MIBOR as Distributed by MLS Grid
• 2007-05-15 Listed $12,900 MIBOR as Distributed by MLS Grid
• 2006-12-28 Listing Removed — MIBOR as Distributed by MLS Grid
• 2006-11-30 Listing Removed — MIBOR as Distributed by MLS Grid
• 2006-11-10 Listed $12,900 MIBOR as Distributed by MLS Grid
• 2005-11-14 Listed $29,900 MIBOR as Distributed by MLS Grid
• 2005-08-05 Listed $29,900 MIBOR as Distributed by MLS Grid
• 2005-06-07 Sold (MLS) $69,900 MIBOR as Distributed by MLS Grid
• 2005-04-30 Listing Removed — MIBOR as Distributed by MLS Grid
• 2004-12-20 Listed $74,900 MIBOR as Distributed by MLS Grid
• 2003-08-06 Listed $74,900 MIBOR as Distributed by MLS Grid

Property tax history

+13.8%/yr

Latest (2025): $3,601 · +0.5% YoY. Source: county tax records.