2607 E 12th St · Indianapolis city (balance), IN 46201

$144,500

3 bd · 1.0 ba · 1,232 sqft · SingleFamily public records · 494 Days on market

Built 1924 3,006 sqft lot $117/sqft · 11% above area Est $195k · 26% 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 +16.0/30.0
• ARV discount +15.0/15.0
• DSCR +4.9/10.0
• 1% rule +4.8/10.0
• 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

Listing remarks MLS

Don't miss this incredible flipping and renovation opportunity located in Vajens Springdale, quiet and safe neighborhood. This property offers endless potential to create your dream home or maximize your investment. Featuring a convenient basement-accessible door and ample space for creative redesign, this is your chance to add value and transform this diamond in the rough. Bring your tools, design vision, and get ready to turn this property into a showstopper!

Key facts

• 3,006 sq ft lot
• Built 1924
• Listed 494 days

Tags

• BASEMENT-ACCESSIBLE DOOR
• HIGHLY DESIRABLE NEIGHBORHOOD

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $144k.

Deal economics

• At list price, monthly cash flow is $70 ($843/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 $141k (2.3% below list).
• Recommended offer: $127k (12.0% below list) — sets the bar for market timing.
• 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.
• 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).
• This rent runs 34% of the median local income ($49k/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 $999 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 494 days — a 12% lower offer ($127k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 4y ago; this cycle's ask has dropped $15k (9%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $110k; 31% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1924 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $127,160 (12.0% below list)

Questions for the listing agent

1. It's been on market 494 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1924 — 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: 0.98% ✗
• Cap rate: 6.88%
• Cash-on-cash: 2.08%
• DSCR: 1.09
• GRM: 8.5

CMA / ARV

• ARV (median comp): $195,402
• List price: $144,500
• Delta: -26.05%
• 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
1223 N Temple Ave	0.06mi	3/2.0	1,234 (+0%)	3mo	$190,000	$154	91
2430 E 16th St	0.35mi	2/1.0 (-1)	1,287 (+4%)	0mo	$77,000	$60	71
1109 N Olney St	0.58mi	3/2.0	1,202 (-2%)	8mo	$169,000	$141	58
2729 Massachusetts Ave	0.69mi	3/2.0	1,260 (+2%)	3mo	$178,000	$141	58
2624 E 17th St	0.43mi	2/1.0 (-1)	1,192 (-3%)	14mo	$135,000	$113	58
815 Tecumseh St	0.55mi	2/1.5 (-1)	1,356 (+10%)	1mo	$225,000	$166	50
3109 E St Joseph St	0.40mi	3/2.0	1,078 (-12%)	10mo	$108,000	$100	48
2909 E Michigan St	0.66mi	2/2.0 (-1)	1,260 (+2%)	11mo	$215,000	$171	47
1129 Larch St	0.53mi	2/2.0 (-1)	1,365 (+11%)	7mo	$318,500	$233	43
1130 N Hamilton Ave	0.42mi	2/2.0 (-1)	1,402 (+14%)	7mo	$175,000	$125	43
401 Eastern Ave	0.73mi	2/1.0 (-1)	1,332 (+8%)	8mo	$32,000	$24	40
805 N Tuxedo St	0.65mi	2/2.0 (-1)	1,347 (+9%)	11mo	$178,000	$132	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 · 7.31% rent growth · sell at horizon

5-year hold

• IRR: -8.0%
• Equity multiple: 0.69×
• Total profit: $-12,499
• Equity at exit: $21,545

10-year hold

• IRR: 6.5%
• Equity multiple: 1.59×
• Total profit: $23,744
• Equity at exit: $12,494

Cash invested: $40,460 (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: 8.5×

Monthly cashflow live

• Estimated rent: $1,412 high
• Mortgage (P&I): −$758
• Tax from tax record: −$227 /mo · $2,728/yr
• Insurance: −$60
• HOA: −$0
• Vacancy / Maint / Mgmt: −$297
• Net cashflow: $70

Break-even live

Break-even rent $1,323

Max offer price $144,500

Occupancy floor 90%

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: $36,125
• Closing costs: $4,335
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1112 N Rural St Unit 1110 Indianapolis, IN	2.0	1.5	1204	$1,150	$0.96	23d	1	0.10mi
1113 N Oxford St Indianapolis, IN	3.0	2.0	1100	$1,495	$1.36	7d	1	0.18mi
2310 E 12th St Indianapolis, IN	2.0	1.0	900	$1,200	$1.33	43d	1	0.22mi
1036 N Parker Ave Indianapolis, IN	4.0	2.0	1342	$1,745	$1.30	4d	1	0.24mi
1038 N Parker Ave Indianapolis, IN	4.0	2.0	1342	$1,745	$1.30	4d	1	0.24mi
1214 N Oakland Ave Indianapolis, IN	3.0	2.0	1464	$1,350	$0.92	13d	1	0.28mi
1216 N Oakland Ave Indianapolis, IN	3.0	2.0	1464	$1,550	$1.06	13d	1	0.29mi
1550 N Rural St Indianapolis, IN	3.0	1.0	1388	$1,600	$1.15	43d	1	0.30mi
2405 E 16th St Indianapolis, IN	3.0	1.0	1120	$1,450	$1.29	14d	1	0.30mi
3030 E 10th St Indianapolis, IN	2.0	1.0	950	$900	$0.95	21d	1	0.31mi
2407 E 16th St Indianapolis, IN	3.0	1.0	1212	$1,450	$1.20	23d	1	0.31mi
3101 E 10th St #301 Indianapolis, IN	2.0	1.0	921	$1,195	$1.30	43d	1	0.33mi
929 N Beville Ave Indianapolis, IN	3.0	1.0	1328	$1,395	$1.05	23d	1	0.34mi
851 N Rural St Indianapolis, IN	3.0	2.5	1300	$1,700	$1.31	23d	1	0.34mi
849 N Rural St Unit 849 Indianapolis, IN	3.0	2.5	1300	$2,000	$1.54	43d	1	0.34mi
2330 E 16th St Indianapolis, IN	3.0	1.5	1378	$1,450	$1.05	4d	1	0.35mi
1623 N Rural St Indianapolis, IN	2.0	1.0	1452	$875	$0.60	43d	1	0.38mi
1119 N Dearborn St Indianapolis, IN	3.0	1.5	1200	$1,249	$1.04	43d	1	0.38mi
940 Jefferson Ave Unit 1 Indianapolis, IN	3.0	1.5	1500	$1,400	$0.93	21d	1	0.39mi
826 N Beville Ave Indianapolis, IN	3.0	1.0	1472	$1,295	$0.88	2d	1	0.44mi
826 N Beville Ave Indianapolis, IN	3.0	1.0	1472	$1,295	$0.88	4d	1	0.44mi
645 N Oxford St Indianapolis, IN	4.0	1.5	1344	$1,500	$1.12	23d	1	0.47mi
818 N Oakland Ave Unit 46201 Indianapolis, IN	3.0	1.5	1332	$1,550	$1.16	43d	1	0.47mi
639 N Rural St Indianapolis, IN	3.0	1.0	1000	$1,675	$1.68	17d	1	0.47mi
627 N Tacoma Ave Indianapolis, IN	3.0	1.0	1160	$1,350	$1.16	10d	1	0.47mi
933 N Dearborn St Indianapolis, IN	3.0	1.5	1204	$1,500	$1.25	43d	1	0.48mi
625 N Tacoma Ave Indianapolis, IN	3.0	1.0	1160	$1,350	$1.16	10d	1	0.48mi
2827 E 18th St Indianapolis, IN	2.0	1.0	726	$1,300	$1.79	23d	1	0.50mi
619 N Rural St Indianapolis, IN	3.0	2.0	1300	$1,600	$1.23	23d	1	0.51mi
1018 N Tuxedo St Unit 1016 Indianapolis, IN	3.0	1.5	1250	$1,099	$0.88	43d	1	0.52mi
835 Tecumseh St Indianapolis, IN	3.0	2.0	1100	$1,550	$1.41	4d	1	0.53mi
632 N Gray St Indianapolis, IN	3.0	1.0	960	$1,800	$1.88	43d	1	0.56mi
840 N Lasalle St Indianapolis, IN	3.0	1.0	1215	$1,100	$0.91	23d	1	0.57mi
639 N Gray St Indianapolis, IN	3.0	1.5	1120	$1,220	$1.09	43d	1	0.57mi
637 N Gray St Indianapolis, IN	3.0	1.5	1120	$1,150	$1.03	44d	1	0.57mi
953 N Tuxedo St Indianapolis, IN	3.0	1.0	1200	$950	$0.79	23d	1	0.57mi
2841 E 19th St Indianapolis, IN	2.0	1.0	812	$850	$1.05	4d	1	0.58mi
1505 N Tuxedo St Unit 1507 Indianapolis, IN	2.0	1.0	1000	$1,100	$1.10	43d	1	0.59mi
2822 E 19th St Indianapolis, IN	3.0	2.0	1130	$1,300	$1.15	43d	1	0.59mi
1301 N Olney St Unit 1303 Indianapolis, IN	2.0	1.0	750	$1,100	$1.47	43d	1	0.60mi

Listing history 23 events

1. 2026-06-18
   days on market $144,500 Active 494 DOM
2. 2026-06-17
   days on market $144,500 Active 493 DOM
3. 2026-06-16
   days on market $144,500 Active 492 DOM
4. 2026-06-15
   days on market $144,500 Active 491 DOM
5. 2026-06-13
   days on market $144,500 Active 489 DOM
6. 2026-06-13
   days on market $144,500 Active 488 DOM
7. 2026-06-09
   days on market $144,500 Active 485 DOM
8. 2026-06-08
   days on market $144,500 Active 484 DOM
9. 2026-06-07
   days on market $144,500 Active 483 DOM
10. 2026-06-03
    days on market $144,500 Active 479 DOM
11. 2026-06-02
    days on market $144,500 Active 478 DOM
12. 2026-06-01
    days on market $144,500 Active 477 DOM
13. 2026-05-31
    days on market $144,500 Active 476 DOM
14. 2026-05-07
    status Active 465-char remark

    Show marketing remark (465 chars)

    Don't miss this incredible flipping and renovation opportunity located in Vajens Springdale, quiet and safe neighborhood. This property offers endless potential to create your dream home or maximize your investment. Featuring a convenient basement-accessible door and ample space for creative redesign, this is your chance to add value and transform this diamond in the rough. Bring your tools, design vision, and get ready to turn this property into a showstopper!

15. 2026-04-30
    historical 465-char remark

    Show marketing remark (465 chars)

    Don't miss this incredible flipping and renovation opportunity located in Vajens Springdale, quiet and safe neighborhood. This property offers endless potential to create your dream home or maximize your investment. Featuring a convenient basement-accessible door and ample space for creative redesign, this is your chance to add value and transform this diamond in the rough. Bring your tools, design vision, and get ready to turn this property into a showstopper!

16. 2025-07-28
    status Active 465-char remark

    Show marketing remark (465 chars)

    Don't miss this incredible flipping and renovation opportunity located in Vajens Springdale, quiet and safe neighborhood. This property offers endless potential to create your dream home or maximize your investment. Featuring a convenient basement-accessible door and ample space for creative redesign, this is your chance to add value and transform this diamond in the rough. Bring your tools, design vision, and get ready to turn this property into a showstopper!

17. 2025-07-10
    historical 465-char remark

    Show marketing remark (465 chars)

    Don't miss this incredible flipping and renovation opportunity located in Vajens Springdale, quiet and safe neighborhood. This property offers endless potential to create your dream home or maximize your investment. Featuring a convenient basement-accessible door and ample space for creative redesign, this is your chance to add value and transform this diamond in the rough. Bring your tools, design vision, and get ready to turn this property into a showstopper!

18. 2025-04-10
    price $144,500 465-char remark

    Show marketing remark (465 chars)

    Don't miss this incredible flipping and renovation opportunity located in Vajens Springdale, quiet and safe neighborhood. This property offers endless potential to create your dream home or maximize your investment. Featuring a convenient basement-accessible door and ample space for creative redesign, this is your chance to add value and transform this diamond in the rough. Bring your tools, design vision, and get ready to turn this property into a showstopper!

19. 2025-03-06
    price $154,500 465-char remark

    Show marketing remark (465 chars)

    Don't miss this incredible flipping and renovation opportunity located in Vajens Springdale, quiet and safe neighborhood. This property offers endless potential to create your dream home or maximize your investment. Featuring a convenient basement-accessible door and ample space for creative redesign, this is your chance to add value and transform this diamond in the rough. Bring your tools, design vision, and get ready to turn this property into a showstopper!

20. 2025-01-15
    listed $159,500 Active 465-char remark

    Show marketing remark (465 chars)

    Don't miss this incredible flipping and renovation opportunity located in Vajens Springdale, quiet and safe neighborhood. This property offers endless potential to create your dream home or maximize your investment. Featuring a convenient basement-accessible door and ample space for creative redesign, this is your chance to add value and transform this diamond in the rough. Bring your tools, design vision, and get ready to turn this property into a showstopper!

21. 2022-03-07
    soldstatus $110,000 Closed 345-char remark

    Show marketing remark (345 chars)

    Great investment opportunity in Vajens Springdale. Minutes from downtown and surrounded by renovated properties this home is a great opportunity for any investor or family looking to rehab a home. Windows, front door, HVAC, and water heater all newer and were previously well maintained. Don't miss this opportunity, schedule your showing TODAY!

22. 2022-02-24
    status Pending 345-char remark

    Show marketing remark (345 chars)

    Great investment opportunity in Vajens Springdale. Minutes from downtown and surrounded by renovated properties this home is a great opportunity for any investor or family looking to rehab a home. Windows, front door, HVAC, and water heater all newer and were previously well maintained. Don't miss this opportunity, schedule your showing TODAY!

23. 2022-02-23
    listed $84,900 Active 345-char remark

    Show marketing remark (345 chars)

    Great investment opportunity in Vajens Springdale. Minutes from downtown and surrounded by renovated properties this home is a great opportunity for any investor or family looking to rehab a home. Windows, front door, HVAC, and water heater all newer and were previously well maintained. Don't miss this opportunity, schedule your showing TODAY!

ⓘ 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: $2,728 · $227/mo
• Projected year-2 tax: $2,728 · $227/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: $16,946
• − Mortgage interest: −$8,094
• − Property taxes: −$2,728
• − Insurance: −$722
• − Repairs & maintenance: −$1,356
• − Management: −$1,356
• − Depreciation: −$4,204
• Taxable loss: −$1,514
• Est. tax savings @ 24.0%: +$363
• After-tax cash flow: $1,207/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

+70.2% since first listed

10 events — show timeline

• 2026-05-07 Relisted — MIBOR as Distributed by MLS Grid
• 2026-04-30 Listing Removed — MIBOR as Distributed by MLS Grid
• 2025-07-28 Relisted — MIBOR as Distributed by MLS Grid
• 2025-07-10 Listing Removed — MIBOR as Distributed by MLS Grid
• 2025-04-10 Price Changed $144,500 MIBOR as Distributed by MLS Grid
• 2025-03-06 Price Changed $154,500 MIBOR as Distributed by MLS Grid
• 2025-01-15 Listed $159,500 MIBOR as Distributed by MLS Grid
• 2022-03-07 Sold (MLS) $110,000 MIBOR as Distributed by MLS Grid
• 2022-02-24 Pending — MIBOR as Distributed by MLS Grid
• 2022-02-23 Listed $84,900 MIBOR as Distributed by MLS Grid

Property tax history

+21.5%/yr

Latest (2025): $2,728 · -13.8% YoY. Source: county tax records.