8450 S Belmont Ave · Indianapolis city (balance), IN 46217

$215,000

3 bd · 1.5 ba · 1,536 sqft · SingleFamily public records · 17 Days on market

Built 1880 0.94 ac lot Est $267k · 20% 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 +16.1/30.0
• ARV discount +15.0/15.0
• DSCR +5.0/10.0
• 1% rule +3.6/10.0
• Schools +3.5/10.0
• Rent growth +3.4/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

3 bedroom 1 1/2 bath home on a corner lot. New flooring in the bathrooms and kitchen areas. Home is being sold AS IS with the right to inspect. Fenced yard. Easy access to US37.

Key facts

• Porch
• Almost 1 full acre
• Many renovations

Tags

• UPDATED HOME
• ADJOINING VACANT LOT
• MANY RENOVATIONS
• PATIO
• PORCH
• ALMOST 1 FULL ACRE

Property features AI

Exterior

• Parking: Detached garage (1 car)
• Utilities: Private water source; Septic system; Electricity connected; Natural gas connected; Solid waste service available
• Home design: Single family residence; Updated/remodeled condition; Two levels; Approximately 0.94 acre lot (about 1/2–1 acre); Additional parcel(s) included
• Construction: Vinyl siding; Crawl space foundation
• Exterior features: Covered patio; Patio; Storage shed

Interior

• Kitchen: Gas oven; Microwave with hood; Garbage disposal; Refrigerator
• Bedrooms: Three bedrooms total — one on the main level and two on the upper level
• Bathrooms: One full bathroom and one half bathroom (full bath on upper level, half bath on main level)
• Heating & cooling: Forced air heating (natural gas); Central air conditioning
• Interior features: Attic access; Eat-in kitchen
• Laundry & utility: Washer and dryer; Gas water heater

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $215k.

Deal economics

• At list price, monthly cash flow is $109 ($1k/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 $186k (13.6% below list).
• Recommended offer: $186k (13.6% below list) — sets the bar for 1% rule.
• Cap rate 6.9% 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.
• Perry Township Schools (urban): math 36% / reading 45% proficiency, ranked #138 of 301 in IN (top 46%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Glenns Valley Elementary School (math 53% / reading 41%, grade D-, #325 of 994 statewide, top 36%, 726 students, 70% FRL); Perry Meridian Middle School (math 33% / reading 51%, grade D-, #102 of 330 statewide, top 32%, 1,292 students, 66% FRL); Perry Meridian High School (math 34% / reading 64%, grade D, #136 of 369 statewide, top 37%, 2,350 students, 58% FRL).
• Market conditions: Rents rising (+3.5%/yr); 214 active listings in the ZIP; 10 comparable units currently listed for rent nearby; rentals leasing fast (median 7d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 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 $1k of loan paydown is wiped out by about $6k 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 17 days — a 2% lower offer ($212k) is reasonable based on typical stale-listing flexibility.
• 8 sale attempts since 17y 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 $26k; list at $215k implies a 732% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1880 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $185,813 (13.6% below list)

Questions for the listing agent

1. Built in 1880 — 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. 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.
4. 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.
5. 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: 0.86% ✗
• Cap rate: 6.90%
• Cash-on-cash: 2.18%
• DSCR: 1.10
• GRM: 9.6

CMA / ARV

• ARV (on-the-fly): $267,264
• Comps found: 7

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
8248 S Belmont Ave	0.21mi	4/2.0 (+1)	1,560 (+2%)	1mo	$249,900	$160	80
1834 Friendship Dr	0.46mi	3/2.0	1,441 (-6%)	0mo	$290,000	$201	66
1818 Winding Ridge Ave	0.63mi	3/2.5	1,674 (+9%)	2mo	$335,000	$200	50
8054 Painted Pony Dr	0.60mi	3/2.0	1,378 (-10%)	12mo	$240,000	$174	43
7884 Sergi Canyon Dr	0.70mi	3/2.5	1,698 (+10%)	3mo	$180,100	$106	43
8339 Hill Gail Dr	0.73mi	3/2.5	1,761 (+15%)	10mo	$361,000	$205	29
7860 Sergi Canyon Dr	0.70mi	3/2.5	1,752 (+14%)	13mo	$285,000	$163	29

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 · 3.46% rent growth · sell at horizon

5-year hold

• IRR: -12.4%
• Equity multiple: 0.55×
• Total profit: $-27,062
• Equity at exit: $32,057

10-year hold

• IRR: -2.7%
• Equity multiple: 0.81×
• Total profit: $-11,225
• Equity at exit: $18,589

Cash invested: $60,200 (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 46217

• Rents YoY: 3.5%
• Active inventory: 214
• Price-to-rent: 9.6×

Monthly cashflow live

• Estimated rent: $1,858 high
• Mortgage (P&I): −$1,127
• Tax from tax record: −$142 /mo · $1,698/yr
• Insurance: −$90
• HOA: −$0
• Vacancy / Maint / Mgmt: −$390
• Net cashflow: $109

Break-even live

Break-even rent $1,720

Max offer price $215,000

Occupancy floor 89%

Sensitivity live

Price	-10% $231	-5% $170	+0% $109	+5% $48	+10% $-12
Rent	-10% $-37	-5% $36	+0% $109	+5% $183	+10% $256
Rate	-1.0pp $218	-0.5pp $164	base $109	+0.5pp $54	+1.0pp $-3

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: $53,750
• Closing costs: $6,450
• Reserves months: —
• Total cash needed: —

Rent comps 10 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
8611 Gandy Ct Indianapolis, IN	3.0	2.0	1064	$1,626	$1.53	20d	1	1.11mi
8145 Maple Stream Ln Indianapolis, IN	3.0	2.5	1688	$1,756	$1.04	26d	1	1.16mi
2808 Dawnlake Dr Indianapolis, IN	3.0	2.5	1481	$1,750	$1.18	5d	1	1.23mi
8705 Zephyr Dr Indianapolis, IN	3.0	1.5	1064	$1,575	$1.48	6d	1	1.24mi
2755 Bloom Dr Greenwood, IN	1.0–3.0	1.0–2.0	1172	$2,000	$1.71	0d	74	1.25mi
7247 Vista Cir Indianapolis, IN	1.0–3.0	1.0–2.0	1086	$2,111	$1.94	0d	26	1.25mi
8020 Lake Tree Cir Indianapolis, IN	3.0	2.5	1690	$1,835	$1.09	10d	1	1.30mi
7150 Parklake Pl Indianapolis, IN	3.0	2.0	1288	$1,895	$1.47	5d	1	1.30mi
8101 Railroad Rd Indianapolis, IN	4.0	1.5	1604	$1,766	$1.10	24d	1	1.33mi
825 Country Ln Indianapolis, IN	3.0	2.0	1892	$1,831	$0.97	0d	1	1.48mi

Listing history 11 events

1. 2026-06-22
   days on market $215,000 Active 17 DOM
2. 2026-06-21
   days on market $215,000 Active 16 DOM
3. 2026-06-18
   days on market $215,000 Active 13 DOM
4. 2026-06-17
   days on market $215,000 Active 12 DOM
5. 2026-06-16
   days on market $215,000 Active 11 DOM
6. 2026-06-15
   days on market $215,000 Active 10 DOM
7. 2026-06-13
   days on market $215,000 Active 8 DOM
8. 2026-06-09
   days on market $215,000 Active 4 DOM
9. 2026-06-08
   days on market $215,000 Active 3 DOM
10. 2026-06-07
    remarks 695-char remark
11. 2026-06-07
    listed $215,000 Active 2 DOM

ⓘ 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: $1,698 · $142/mo
• Projected year-2 tax: $1,763 · $147/mo
• Expected delta: +$65/yr (+$5/mo · 3.8%)

ⓘ 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 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 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $22,298
• − Mortgage interest: −$12,043
• − Property taxes: −$1,698
• − Insurance: −$1,075
• − Repairs & maintenance: −$1,784
• − Management: −$1,784
• − Depreciation: −$6,255
• Taxable loss: −$2,341
• Est. tax savings @ 24.0%: +$562
• After-tax cash flow: $1,874/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: Perry Township Schools
• NCES district ID: 1808820
• Math proficiency: 36% ▼ -13.00%
• Reading proficiency: 45% ▼ -6.00%
• Median HH income: $47,170
• Composite: 34.61/100
• National rank: #5153
• State rank: #138 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): 36,917
• Household income: $92,029
• Rent vs Own: 18.5% rent · 81.5% own
• Severe rent burden: 472.0

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 0.60)
• Race & ethnicity: White 59% Asian 20% Black 10% Hispanic / Latino 8% Two or more races 6%
• Hispanic origin (detail): Mexican 6%
• Common ancestry: Lithuanian 3% Romanian 2% Iranian 1%
• Foreign-born: 17% · Philippines, Canada, China
• Languages at home: 76% English-only · Other Asian/Pacific 15% Spanish 6% 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: ▼ -221.18%
• Current HPI: 223.147
• Rent YoY: ▲ 3.46%
• 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

+105.0% since first listed

26 events — show timeline

• 2026-06-05 Listed $215,000 MIBOR as Distributed by MLS Grid
• 2020-09-14 Sold (Public Records) $25,850 Public Records
• 2016-10-31 Sold (MLS) $81,000 MIBOR as Distributed by MLS Grid
• 2016-09-14 Contingent — MIBOR as Distributed by MLS Grid
• 2016-09-12 Pending — MIBOR as Distributed by MLS Grid
• 2016-07-27 Relisted — MIBOR as Distributed by MLS Grid
• 2016-07-12 Contingent — MIBOR as Distributed by MLS Grid
• 2016-05-19 Pending — MIBOR as Distributed by MLS Grid
• 2016-04-06 Listed $89,900 MIBOR as Distributed by MLS Grid
• 2016-01-26 Listing Removed — MIBOR as Distributed by MLS Grid
• 2016-01-14 Relisted — MIBOR as Distributed by MLS Grid
• 2016-01-09 Listing Removed — MIBOR as Distributed by MLS Grid
• 2015-11-03 Relisted — MIBOR as Distributed by MLS Grid
• 2015-10-21 Pending — MIBOR as Distributed by MLS Grid
• 2015-09-22 Price Changed $89,900 MIBOR as Distributed by MLS Grid
• 2015-09-22 Price Changed $79,899 MIBOR as Distributed by MLS Grid
• 2015-09-22 Price Changed $79,900 MIBOR as Distributed by MLS Grid
• 2015-09-04 Price Changed $79,900 MIBOR as Distributed by MLS Grid
• 2015-06-04 Price Changed $89,900 MIBOR as Distributed by MLS Grid
• 2015-06-04 Price Changed $89,899 MIBOR as Distributed by MLS Grid
• 2015-05-08 Price Changed $89,900 MIBOR as Distributed by MLS Grid
• 2015-04-10 Listed $100,000 MIBOR as Distributed by MLS Grid
• 2012-07-13 Listing Removed — MIBOR as Distributed by MLS Grid
• 2012-04-15 Listing Removed — MIBOR as Distributed by MLS Grid
• 2011-04-14 Listed $104,900 MIBOR as Distributed by MLS Grid
• 2009-07-02 Listed $104,900 MIBOR as Distributed by MLS Grid

Property tax history

+2.0%/yr

Latest (2025): $1,698 · +5.0% YoY. Source: county tax records.