10114 E 33rd St · Indianapolis city (balance), IN 46235

$139,000

3 bd · 1.0 ba · 1,225 sqft · SingleFamily public records · 105 Days on market

Built 1972 8,146 sqft lot $113/sqft · 10% below area Est $155k · 10% 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 +23.4/30.0
• ARV discount +12.2/15.0
• DSCR +7.5/10.0
• 1% rule +6.5/10.0
• 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

It's affordable! 3-Bedroom with a family room, & living room with a Large fenced yard. Currently a rental home, with a tenant @ $900. per month. Great Investment home to rent or make it your home. No Money down option.

Key facts

• 8,146 sq ft lot
• Built 1972
• Listed 105 days

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $139k.

Deal economics

• At list price, monthly cash flow is $256 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $139k).
• Recommended offer: $126k (9.0% below list) — sets the bar for market timing.
• Cap rate 8.5% 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 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 (+2.6%/yr); 54 active listings in the ZIP; 21 comparable units currently listed for rent nearby; rentals at typical pace (median 18d 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 32% of the median local income ($59k/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 $961 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 105 days — a 9% lower offer ($126k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 10y ago; this cycle's ask has dropped $36k (21%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $64k; list at $139k implies a 116% gain — meaningful room to come down on a strong offer.

Recommended offer $126,490 (9.0% below list)

Questions for the listing agent

1. It's been on market 105 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 1972 — 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: 1.15% ✓
• Cap rate: 8.50%
• Cash-on-cash: 7.89%
• DSCR: 1.35
• GRM: 7.3

CMA / ARV

• ARV (median comp): $155,054
• List price: $139,000
• Delta: -10.35%
• 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
10013 Ridgefield Dr	0.07mi	3/1.0	1,225 (0%)	4mo	$145,000	$118	94
3601 Luewan Dr	0.56mi	3/2.0	1,284 (+5%)	7mo	$110,000	$86	56
3817 Strathmore Dr	0.73mi	3/1.0	1,236 (+1%)	11mo	$150,000	$121	55
3814 Strathmore Dr	0.72mi	4/1.0 (+1)	1,225 (0%)	9mo	$185,000	$151	54
10113 Catalina Dr	0.74mi	3/1.5	1,176 (-4%)	6mo	$151,500	$129	51
9961 Catalina Dr	0.71mi	3/1.0	1,236 (+1%)	20mo	$135,000	$109	49
3717 Lacebark Dr	0.73mi	3/1.5	1,320 (+8%)	4mo	$205,000	$155	48
10119 Catalina Dr	0.75mi	3/1.0	1,176 (-4%)	15mo	$140,000	$119	46
3514 Jerome Ct	0.70mi	3/1.0	1,107 (-10%)	10mo	$79,000	$71	43
3734 Lacebark Dr	0.73mi	3/1.5	1,320 (+8%)	11mo	$219,900	$167	42
3525 Luewan Ct	0.74mi	4/1.0 (+1)	1,107 (-10%)	5mo	$120,000	$108	40
3682 Lace Bark Dr	0.69mi	3/2.0	1,368 (+12%)	12mo	$140,000	$102	35

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 · 2.56% rent growth · sell at horizon

5-year hold

• IRR: -4.8%
• Equity multiple: 0.82×
• Total profit: $-6,873
• Equity at exit: $20,725

10-year hold

• IRR: 4.4%
• Equity multiple: 1.32×
• Total profit: $12,355
• Equity at exit: $12,018

Cash invested: $38,920 (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 46235

• Home prices YoY: -4.3%
• Rents YoY: 2.6%
• Active inventory: 54
• Price-to-rent: 7.3×

Monthly cashflow live

• Estimated rent: $1,595 high
• Mortgage (P&I): −$729
• Tax from tax record: −$217 /mo · $2,604/yr
• Insurance: −$58
• HOA: −$0
• Vacancy / Maint / Mgmt: −$335
• Net cashflow: $256

Break-even live

Break-even rent $1,271

Max offer price $139,000

Occupancy floor 79%

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: $34,750
• Closing costs: $4,170
• Reserves months: —
• Total cash needed: —

Rent comps 21 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3645 Wingate Ct Indianapolis, IN	3.0	1.0–2.0	774	$1,500	$1.94	23d	6	0.61mi
3519 Jerome Ct Indianapolis, IN	4.0	1.0	1107	$1,995	$1.80	23d	1	0.66mi
3525 Luewan Ct Indianapolis, IN	4.0	1.0	1107	$1,750	$1.58	23d	1	0.71mi
9962 Catalina Dr Indianapolis, IN	3.0	1.0	1236	$1,600	$1.29	3d	1	0.72mi
3665 Coneflower Way Indianapolis, IN	3.0	2.0	1030	$1,375	$1.33	43d	1	0.85mi
9226 E 36th Pl Indianapolis, IN	3.0	1.0	1073	$1,250	$1.16	7d	1	0.88mi
3747 Ireland Dr Indianapolis, IN	4.0	1.5	1400	$1,700	$1.21	23d	1	0.89mi
10101 Montery Rd Indianapolis, IN	2.0	1.0	627	$1,439	$2.30	1d	10	0.91mi
3962 Strathmore Dr Indianapolis, IN	3.0	1.0	925	$1,250	$1.35	23d	1	0.94mi
9949 Ellis Dr Indianapolis, IN	4.0	2.0	1421	$1,580	$1.11	2d	1	0.99mi
9438 Conried Dr Indianapolis, IN	3.0	1.0	1094	$1,445	$1.32	4d	1	1.14mi
9060 E 39th Pl Indianapolis, IN	1.0–2.0	1.0–1.5	820	$1,040	$1.27	23d	1	1.27mi
3631 Decamp Dr Indianapolis, IN	3.0	1.0	1000	$1,335	$1.33	23d	1	1.29mi
3540 Dubarry Ct Indianapolis, IN	3.0	2.0	1297	$1,400	$1.08	23d	1	1.30mi
8862 Bel Air Ct Indianapolis, IN	3.0	1.0	1073	$1,264	$1.18	17d	1	1.43mi
3809 Biscayne Rd Indianapolis, IN	2.0	1.5	992	$1,020	$1.03	14d	1	1.43mi
3815 Biscayne Rd Indianapolis, IN	3.0	1.5	1188	$1,220	$1.03	14d	1	1.43mi
3821 Biscayne Rd Indianapolis, IN	4.0	1.5	1188	$1,325	$1.12	14d	1	1.44mi
3823 Biscayne Rd Indianapolis, IN	4.0	1.5	1188	$1,320	$1.11	14d	1	1.44mi
3829 Biscayne Rd Indianapolis, IN	4.0	1.5	1188	$1,320	$1.11	14d	1	1.45mi
8914 Elmonte Dr Indianapolis, IN	3.0	1.5	1500	$1,600	$1.07	23d	1	1.46mi

Listing history 10 events

1. 2026-05-07
   price $139,000 231-char remark

   Show marketing remark (231 chars)

   It's affordable! 3-Bedroom with a family room, & living room with a Large fenced yard. Currently a rental home, with a tenant @ $900. per month. Great Investment home to rent or make it your home. No Money down option.

2. 2026-03-18
   price $145,000 231-char remark

   Show marketing remark (231 chars)

   It's affordable! 3-Bedroom with a family room, & living room with a Large fenced yard. Currently a rental home, with a tenant @ $900. per month. Great Investment home to rent or make it your home. No Money down option.

3. 2026-02-13
   price $160,000 231-char remark

   Show marketing remark (231 chars)

   It's affordable! 3-Bedroom with a family room, & living room with a Large fenced yard. Currently a rental home, with a tenant @ $900. per month. Great Investment home to rent or make it your home. No Money down option.

4. 2026-02-09
   listed $175,000 Active 231-char remark

   Show marketing remark (231 chars)

   It's affordable! 3-Bedroom with a family room, & living room with a Large fenced yard. Currently a rental home, with a tenant @ $900. per month. Great Investment home to rent or make it your home. No Money down option.

5. 2017-04-06
   soldstatus $64,500 Sold 306-char remark

   Show marketing remark (306 chars)

   Property is tenant occupied. Current rent is $825.00 per month. Lease ends 12/31/2017. Proof of funds or Preapproval is required to be provided prior to scheduling any showing. 24 hour notice to show required. All the work has been done for you- from rehab to placing your tenant. Outstanding opportunity!

6. 2017-03-06
   historical Active with Contingency 306-char remark

   Show marketing remark (306 chars)

   Property is tenant occupied. Current rent is $825.00 per month. Lease ends 12/31/2017. Proof of funds or Preapproval is required to be provided prior to scheduling any showing. 24 hour notice to show required. All the work has been done for you- from rehab to placing your tenant. Outstanding opportunity!

7. 2017-03-03
   listed $67,500 Active 306-char remark

   Show marketing remark (306 chars)

   Property is tenant occupied. Current rent is $825.00 per month. Lease ends 12/31/2017. Proof of funds or Preapproval is required to be provided prior to scheduling any showing. 24 hour notice to show required. All the work has been done for you- from rehab to placing your tenant. Outstanding opportunity!

8. 2016-09-14
   soldstatus $35,000 Sold
9. 2016-08-08
   historical Active with Contingency
10. 2016-06-23
    listed $35,000 Active

ⓘ 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: $2,604 · $217/mo
• Projected year-2 tax: $2,604 · $217/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 100% 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: $19,137
• − Mortgage interest: −$7,786
• − Property taxes: −$2,604
• − Insurance: −$695
• − Repairs & maintenance: −$1,531
• − Management: −$1,531
• − Depreciation: −$4,044
• Taxable income: $946
• Est. tax owed @ 24.0%: −$227
• After-tax cash flow: $2,845/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): 36,317
• Household income: $58,951
• Rent vs Own: 46.5% rent · 53.5% own
• Severe rent burden: 1901.0

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 57% White 18% Hispanic / Latino 17% Two or more races 11%
• Hispanic origin (detail): Mexican 11% Puerto Rican 2%
• Common ancestry: Hispanic 3% Slovak 1% Romanian 1%
• Foreign-born: 11% · Canada
• Languages at home: 80% English-only · Spanish 15% French/Haitian/Cajun 4%

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: ▼ -12.41%
• Current HPI: 275.1505
• Rent YoY: ▲ 2.56%
• 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

+297.1% since first listed

10 events — show timeline

• 2026-05-07 Price Changed $139,000 MIBOR as Distributed by MLS Grid
• 2026-03-18 Price Changed $145,000 MIBOR as Distributed by MLS Grid
• 2026-02-13 Price Changed $160,000 MIBOR as Distributed by MLS Grid
• 2026-02-09 Listed $175,000 MIBOR as Distributed by MLS Grid
• 2017-04-06 Sold (MLS) $64,500 MIBOR as Distributed by MLS Grid
• 2017-03-06 Contingent — MIBOR as Distributed by MLS Grid
• 2017-03-03 Listed $67,500 MIBOR as Distributed by MLS Grid
• 2016-09-14 Sold (MLS) $35,000 MIBOR as Distributed by MLS Grid
• 2016-08-08 Contingent — MIBOR as Distributed by MLS Grid
• 2016-06-23 Listed $35,000 MIBOR as Distributed by MLS Grid

Property tax history

+35.2%/yr

Latest (2025): $2,604 · +24.9% YoY. Source: county tax records.