1448 Saint Peter St · Indianapolis city (balance), IN 46203

$114,900

3 bd · 1.0 ba · 900 sqft · SingleFamily public records · 103 Days on market

Built 1961 4,051 sqft lot $128/sqft · 25% below area Est $154k · 25% 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 +25.1/30.0
• ARV discount +15.0/15.0
• DSCR +8.2/10.0
• 1% rule +7.0/10.0
• Rent growth +3.2/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.4/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

An Indy investor dream! Check out this well maintained single family rental, just minutes from classic Fountain Square hotspots like Yaso, Kuma's Corner, and 317 Movement. This property is currently rented to long term tenants for $1,130 per month through August of 26'. Great opportunity to add to your rental portfolio with this turnkey rental. Snatch this place up before it's gone!

Key facts

• 4,051 sq ft lot
• Built 1961
• Listed 102 days

🏷️ Possibly a rental listed for sale. The $114,900 price doesn't fit this home's estimated sale value (~$153,741) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $115k.

Deal economics

• At list price, monthly cash flow is $253 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $115k).
• Recommended offer: $105k (9.0% below list) — sets the bar for market timing.
• Cap rate 8.9% 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 (+2.9%/yr); 499 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); 45% 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).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $794 of loan paydown is wiped out by about $3k 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 103 days — a 9% lower offer ($105k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 20y 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 $75k; list at $115k implies a 53% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: moderate flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $104,559 (9.0% below list)

Questions for the listing agent

1. It's been on market 103 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1961 — 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: 1.20% ✓
• Cap rate: 8.94%
• Cash-on-cash: 9.44%
• DSCR: 1.42
• GRM: 7.0

CMA / ARV

• ARV (median comp): $153,741
• List price: $114,900
• Delta: -25.26%
• 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
1443 S Oxford St	0.40mi	3/1.0	900 (0%)	3mo	$80,000	$89	79
1418 St Paul St	0.07mi	3/1.0	1,000 (+11%)	1mo	$170,000	$170	77
1606 Asbury St	0.41mi	3/1.0	892 (-1%)	4mo	$145,000	$163	76
2029 Reformers Ave	0.49mi	3/1.0	875 (-3%)	6mo	$95,000	$109	67
917 St Peter St	0.48mi	2/1.0 (-1)	913 (+1%)	9mo	$90,000	$99	63
1602 Harlan St	0.21mi	2/1.0 (-1)	808 (-10%)	7mo	$130,000	$161	62
1842 Carpenter Cir	0.72mi	3/1.0	912 (+1%)	5mo	$157,500	$173	60
1118 Churchman Ave	0.31mi	2/2.0 (-1)	812 (-10%)	7mo	$244,000	$300	54
2005 Reformers Ave	0.51mi	3/1.0	816 (-9%)	9mo	$154,900	$190	54
1212 Vandeman St	0.71mi	2/1.0 (-1)	880 (-2%)	8mo	$39,900	$45	51
1514 Lawton Ave	0.67mi	2/1.0 (-1)	1,000 (+11%)	6mo	$179,900	$180	40
3139 E Minnesota St	0.70mi	3/1.0	1,032 (+15%)	8mo	$120,000	$116	36

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 · 2.88% rent growth · sell at horizon

5-year hold

• IRR: -2.2%
• Equity multiple: 0.92×
• Total profit: $-2,615
• Equity at exit: $17,132

10-year hold

• IRR: 7.4%
• Equity multiple: 1.56×
• Total profit: $17,990
• Equity at exit: $9,934

Cash invested: $32,172 (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 46203

• Home prices YoY: -26.7%
• Rents YoY: 2.9%
• Active inventory: 499
• Price-to-rent: 7.0×

Monthly cashflow live

• Estimated rent: $1,375 high
• Mortgage (P&I): −$603
• Tax from tax record: −$183 /mo · $2,192/yr
• Insurance: −$48
• HOA: −$0
• Vacancy / Maint / Mgmt: −$289
• Net cashflow: $253

Break-even live

Break-even rent $1,055

Max offer price $114,900

Occupancy floor 77%

Sensitivity live

Price	-10% $318	-5% $286	+0% $253	+5% $221	+10% $188
Rent	-10% $145	-5% $199	+0% $253	+5% $307	+10% $362
Rate	-1.0pp $311	-0.5pp $282	base $253	+0.5pp $223	+1.0pp $193

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: $28,725
• Closing costs: $3,447
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1505 S Rural St Indianapolis, IN	3.0	1.0	1104	$1,500	$1.36	13d	1	0.33mi
1503 Dawson St Indianapolis, IN	2.0	1.0	700	$1,200	$1.71	44d	1	0.33mi
1534 Dawson St Indianapolis, IN	3.0	1.0	1040	$1,499	$1.44	24d	1	0.36mi
1013 Harlan St Indianapolis, IN	2.0	1.0	1008	$1,475	$1.46	44d	1	0.45mi
1011 Harlan St Indianapolis, IN	2.0	2.0	1008	$1,525	$1.51	44d	1	0.45mi
2230 Woodlawn Ave Indianapolis, IN	2.0	1.0	924	$1,350	$1.46	44d	1	0.46mi
1815 Dawson St Unit 1815 Indianapolis, IN	2.0	1.0	1019	$999	$0.98	15d	1	0.46mi
1543 S State Ave Indianapolis, IN	2.0	1.0	1086	$1,100	$1.01	8d	1	0.47mi
1637 S State Ave Indianapolis, IN	2.0	1.5	816	$900	$1.10	18d	1	0.48mi
2116 Woodlawn Ave Indianapolis, IN	2.0	2.0	1054	$1,175	$1.11	8d	1	0.49mi
1620 E Palmer St Indianapolis, IN	2.0	1.0	824	$1,200	$1.46	24d	1	0.53mi
3012 E Minnesota St Indianapolis, IN	2.0	1.0	767	$1,000	$1.30	24d	1	0.55mi
3012 E Minnesota St Indianapolis, IN	2.0	1.0	875	$1,000	$1.14	44d	1	0.55mi
2036 Calhoun St Indianapolis, IN	2.0	1.0	880	$1,200	$1.36	8d	1	0.55mi
1730 Perkins Ave Indianapolis, IN	3.0	1.0	924	$1,300	$1.41	24d	1	0.61mi
815 Dawson St Unit 2 Indianapolis, IN	2.0	1.0	600	$1,300	$2.17	5d	1	0.65mi
1441 Prospect St Indianapolis, IN	2.0	1.0–2.0	2840	$2,000	$0.70	2d	13	0.72mi
3441 Prospect St Indianapolis, IN	2.0	1.0	1008	$1,500	$1.49	24d	1	0.78mi
3441 Prospect St Indianapolis, IN	2.0	1.0	1008	$1,700	$1.69	45d	1	0.78mi
2430 E Kelly St Indianapolis, IN	2.0	1.0	965	$949	$0.98	44d	1	0.80mi
3518 Terrace Ave Indianapolis, IN	3.0	1.0	864	$1,300	$1.50	44d	1	0.86mi
1706 E Tabor St Unit 1708 Indianapolis, IN	3.0	1.0	1000	$1,300	$1.30	8d	1	0.87mi
2631 Southeastern Ave Indianapolis, IN	3.0	2.0	1072	$1,195	$1.11	12d	1	0.87mi
1224 Prospect St Indianapolis, IN	2.0	1.0–2.0	691	$2,235	$3.23	2d	8	0.88mi
518 S State Ave Indianapolis, IN	2.0	1.0	900	$725	$0.81	44d	1	0.90mi
1449 Fletcher Ave Indianapolis, IN	2.0	2.0	1000	$2,000	$2.00	18d	1	0.93mi
3022 English Ave Unit 3022 Indianapolis, IN	2.0	1.0	600	$650	$1.08	44d	1	0.96mi
1604 E Kelly St Indianapolis, IN	2.0	1.0	800	$1,025	$1.28	11d	1	0.98mi
1604 E Kelly St Indianapolis, IN	2.0	1.0	750	$1,025	$1.37	18d	1	0.98mi
225 Hamilton Ave Indianapolis, IN	2.0	2.0	1008	$1,695	$1.68	44d	1	1.01mi
330 S Rural St Indianapolis, IN	2.0	1.0	960	$1,050	$1.09	8d	1	1.01mi
350 S Oxford St Indianapolis, IN	3.0	1.0	826	$1,300	$1.57	44d	1	1.02mi
247 S Randolph St Indianapolis, IN	2.0	1.0	720	$750	$1.04	44d	1	1.03mi
245 S Randolph St Indianapolis, IN	2.0	1.0	720	$750	$1.04	44d	1	1.04mi
1026 Orange St Indianapolis, IN	2.0	2.0	1007	$1,600	$1.59	17d	1	1.04mi
1024 Orange St Indianapolis, IN	2.0	2.0	1007	$1,650	$1.64	44d	1	1.04mi
323 S Rural St Indianapolis, IN	3.0	1.5	1090	$1,050	$0.96	44d	1	1.05mi
1012 Prospect St Unit 907 Prospect NO AMI Indianapolis, IN	3.0	1.5	1121	$1,400	$1.25	44d	1	1.06mi
2469 Dawson St Indianapolis, IN	2.0	1.0	700	$949	$1.36	4d	4	1.10mi
1514 Ringgold Ave Indianapolis, IN	3.0	1.0	1064	$1,295	$1.22	44d	1	1.10mi

Listing history 29 events

1. 2026-06-21
   days on market $114,900 Active 103 DOM
2. 2026-06-18
   days on market $114,900 Active 100 DOM
3. 2026-06-17
   days on market $114,900 Active 99 DOM
4. 2026-06-16
   days on market $114,900 Active 98 DOM
5. 2026-06-15
   days on market $114,900 Active 97 DOM
6. 2026-06-13
   days on market $114,900 Active 95 DOM
7. 2026-06-13
   days on market $114,900 Active 94 DOM
8. 2026-06-09
   days on market $114,900 Active 91 DOM
9. 2026-06-08
   days on market $114,900 Active 90 DOM
10. 2026-06-07
    days on market $114,900 Active 89 DOM
11. 2026-06-03
    days on market $114,900 Active 85 DOM
12. 2026-06-02
    days on market $114,900 Active 84 DOM
13. 2026-06-01
    days on market $114,900 Active 83 DOM
14. 2026-05-31
    days on market $114,900 Active 82 DOM
15. 2026-04-02
    price $114,900 385-char remark

    Show marketing remark (385 chars)

    An Indy investor dream! Check out this well maintained single family rental, just minutes from classic Fountain Square hotspots like Yaso, Kuma's Corner, and 317 Movement. This property is currently rented to long term tenants for $1,130 per month through August of 26'. Great opportunity to add to your rental portfolio with this turnkey rental. Snatch this place up before it's gone!

16. 2026-03-10
    listed $119,900 Active 385-char remark

    Show marketing remark (385 chars)

    An Indy investor dream! Check out this well maintained single family rental, just minutes from classic Fountain Square hotspots like Yaso, Kuma's Corner, and 317 Movement. This property is currently rented to long term tenants for $1,130 per month through August of 26'. Great opportunity to add to your rental portfolio with this turnkey rental. Snatch this place up before it's gone!

17. 2022-12-05
    historical
18. 2022-09-23
    price $125,000
19. 2022-08-10
    price $134,900
20. 2022-07-14
    listed $149,900 Active
21. 2022-05-23
    soldstatus $75,000 Closed
22. 2022-04-29
    status Pending
23. 2022-04-23
    listed $100,000 Active
24. 2015-03-04
    historical
25. 2015-02-19
    listed $54,900 Active
26. 2011-10-21
    historical
27. 2011-09-06
    listed $3,900
28. 2007-04-30
    historical
29. 2006-10-17
    listed $11,900

ⓘ 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: $2,192 · $183/mo
• Projected year-2 tax: $2,192 · $183/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 5/10 Major FEMA zone X (unshaded) · 24% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 4/10 Moderate 7 d/yr ≥101°F today · 19 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $16,500
• − Mortgage interest: −$6,436
• − Property taxes: −$2,192
• − Insurance: −$574
• − Repairs & maintenance: −$1,320
• − Management: −$1,320
• − Depreciation: −$3,343
• Taxable income: $1,315
• Est. tax owed @ 24.0%: −$316
• After-tax cash flow: $2,723/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): 37,758
• Household income: $57,393
• Rent vs Own: 42.2% rent · 57.8% own
• Severe rent burden: 1499.0

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 White (69%)
• Race & ethnicity: White 69% Hispanic / Latino 14% Black 12% Two or more races 8% Asian 2% Native American 1%
• Hispanic origin (detail): Mexican 12% Puerto Rican 1%
• Common ancestry: Slovak 2% Lithuanian 2% Italian 1%
• Foreign-born: 8% · Canada
• Languages at home: 88% English-only · Spanish 10% Other Indo-European 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: ▼ -127.37%
• Current HPI: 349.579
• Rent YoY: ▲ 2.88%
• 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

+865.5% since first listed

15 events — show timeline

• 2026-04-02 Price Changed $114,900 MIBOR as Distributed by MLS Grid
• 2026-03-10 Listed $119,900 MIBOR as Distributed by MLS Grid
• 2022-12-05 Listing Removed — MIBOR as Distributed by MLS Grid
• 2022-09-23 Price Changed $125,000 MIBOR as Distributed by MLS Grid
• 2022-08-10 Price Changed $134,900 MIBOR as Distributed by MLS Grid
• 2022-07-14 Listed $149,900 MIBOR as Distributed by MLS Grid
• 2022-05-23 Sold (MLS) $75,000 MIBOR as Distributed by MLS Grid
• 2022-04-29 Pending — MIBOR as Distributed by MLS Grid
• 2022-04-23 Listed $100,000 MIBOR as Distributed by MLS Grid
• 2015-03-04 Listing Removed — MIBOR as Distributed by MLS Grid
• 2015-02-19 Listed $54,900 MIBOR as Distributed by MLS Grid
• 2011-10-21 Listing Removed — MIBOR as Distributed by MLS Grid
• 2011-09-06 Listed $3,900 MIBOR as Distributed by MLS Grid
• 2007-04-30 Listing Removed — MIBOR as Distributed by MLS Grid
• 2006-10-17 Listed $11,900 MIBOR as Distributed by MLS Grid

Property tax history

+10.5%/yr

Latest (2025): $2,192 · +1.1% YoY. Source: county tax records.