2252 Wheeler St · Indianapolis city (balance), IN 46218

$99,900

3 bd · 1.0 ba · 1,068 sqft · SingleFamily public records · 67 Days on market

Built 1963 6,752 sqft lot $94/sqft · at area comps Est $102k · at est. ↓ 17% since listing

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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 +27.7/30.0
• DSCR +9.8/10.0
• ARV discount +8.5/15.0
• 1% rule +7.9/10.0
• Rent growth +2.7/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.4/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

This inviting single family residence stands prepared for its new occupants to simply move in and begin enjoying life. The heart of this residence centers around an exceptionally appointed kitchen, where the aesthetic appeal of shaker cabinets perfectly complements the sleek expanse of stone countertops. A thoughtfully designed backsplash adds a touch of refinement, while the generously sized kitchen island offers a perfect gathering spot for casual meals or culinary endeavors, fostering a sense of warmth and communal living. The pristine bathroom provides a rejuvenating retreat, featuring a spacious walk-in shower designed for comfort and ease, offering a serene start or end to each day. Beyond the central living spaces, three comfortable bedrooms provide private sanctuaries for quiet contemplation or peaceful slumber. With 1068 square feet of living area, the single family residence offers a well-proportioned layout, all situated on a single story for effortless navigation throughout the home. The property, built in 1963, also encompasses a substantial 6752 square foot lot area, presenting ample outdoor space for various pursuits and personal enjoyment. This single family residence truly offers a harmonious blend of practical comfort and inviting design, ready to inspire its next chapter of cherished moments.

Key facts

• Stone countertops
• Appointed kitchen
• Substantial lot area

Tags

• APPOINTED KITCHEN
• SHAKER CABINETS
• STONE COUNTERTOPS
• KITCHEN ISLAND
• WALK-IN SHOWER
• SUBSTANTIAL LOT AREA

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $100k.

Deal economics

• At list price, monthly cash flow is $302 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $100k).
• Recommended offer: $94k (6.0% below list) — sets the bar for market timing.
• Cap rate 9.9% 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 flat; 334 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); lower-income renter base — watch delinquency; 1,906 units permitted in Marion County in 2024 (621 in 5+ unit buildings).
• This rent runs 41% of the median local income ($38k/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 $691 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 67 days — a 6% lower offer ($94k) is reasonable based on typical stale-listing flexibility.

Recommended offer $93,906 (6.0% below list)

Questions for the listing agent

1. It's been on market 67 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1963 — 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: 1.29% ✓
• Cap rate: 9.92%
• Cash-on-cash: 12.94%
• DSCR: 1.58
• GRM: 6.5

CMA / ARV

• ARV (median comp): $102,214
• List price: $99,900
• Delta: -2.26%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3320 E 26th St	0.41mi	3/2.0	1,068 (0%)	3mo	$156,500	$147	74
2343 N Rural St	0.20mi	2/1.0 (-1)	1,124 (+5%)	4mo	$60,000	$53	73
2037 Adams St	0.40mi	3/1.0	1,106 (+4%)	3mo	$118,000	$107	73
2740 N Rural St	0.51mi	3/2.0	1,082 (+1%)	2mo	$195,000	$180	69
2018 N Dearborn St	0.32mi	3/1.0	1,168 (+9%)	2mo	$145,000	$124	68
2426 Lasalle St	0.26mi	2/1.0 (-1)	984 (-8%)	9mo	$95,000	$97	63
2875 Adams St	0.68mi	3/1.0	1,071 (+0%)	11mo	$115,000	$107	59
2049 Houston St	0.33mi	3/1.0	912 (-15%)	7mo	$117,000	$128	54
2934 E Brookside Ave	0.35mi	3/1.0	912 (-15%)	7mo	$50,000	$55	53
2427 N Rural St	0.26mi	2/2.5 (-1)	1,200 (+12%)	6mo	$150,000	$125	51
2818 E 17th St	0.67mi	2/2.0 (-1)	1,024 (-4%)	3mo	$205,000	$200	50
2030 Houston St	0.35mi	3/2.0	912 (-15%)	7mo	$130,000	$143	50

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 · 0.81% rent growth · sell at horizon

5-year hold

• IRR: 0.3%
• Equity multiple: 1.01×
• Total profit: $285
• Equity at exit: $14,895

10-year hold

• IRR: 7.5%
• Equity multiple: 1.51×
• Total profit: $14,220
• Equity at exit: $8,638

Cash invested: $27,972 (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 46218

• Home prices YoY: -17.1%
• Rents YoY: 0.8%
• Active inventory: 334
• Price-to-rent: 6.5×

Monthly cashflow live

• Estimated rent: $1,289 high
• Mortgage (P&I): −$524
• Tax from tax record: −$151 /mo · $1,816/yr
• Insurance: −$42
• HOA: −$0
• Vacancy / Maint / Mgmt: −$271
• Net cashflow: $302

Break-even live

Break-even rent $907

Max offer price $99,900

Occupancy floor 72%

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: $24,975
• Closing costs: $2,997
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2045 N Dearborn St Indianapolis, IN	3.0	2.0	912	$1,145	$1.26	23d	1	0.25mi
2341 Adams St Indianapolis, IN	2.0	1.0	1200	$1,199	$1.00	43d	1	0.25mi
2343 E Adams St Indianapolis, IN	2.0	1.0	1200	$1,199	$1.00	43d	1	0.25mi
2410 Adams St Indianapolis, IN	3.0	1.0	900	$1,200	$1.33	10d	1	0.30mi
1938 N Dearborn St Indianapolis, IN	3.0	1.0	1162	$1,400	$1.20	23d	1	0.40mi
3451 E 26th St Indianapolis, IN	3.0	2.0	1200	$1,650	$1.38	43d	1	0.45mi
3449 E 26th St Indianapolis, IN	3.0	2.0	1200	$1,512	$1.26	2d	1	0.45mi
2815 Brookside Ave Indianapolis, IN	3.0	2.0	1120	$1,350	$1.21	10d	1	0.46mi
2822 E 19th St Indianapolis, IN	3.0	2.0	1130	$1,300	$1.15	43d	1	0.48mi
2841 E 19th St Indianapolis, IN	2.0	1.0	812	$850	$1.05	4d	1	0.49mi
2221 Station St Indianapolis, IN	3.0	2.5	1312	$1,600	$1.22	23d	1	0.51mi
2827 E 18th St Indianapolis, IN	2.0	1.0	726	$1,300	$1.79	23d	1	0.57mi
2830 Lasalle St Unit 28 Indianapolis, IN	2.0	1.0	1400	$1,100	$0.79	43d	1	0.60mi
2827 Adams St Indianapolis, IN	3.0	2.0	1200	$1,512	$1.26	2d	1	0.62mi
1623 N Rural St Indianapolis, IN	2.0	1.0	1452	$875	$0.60	43d	1	0.69mi
2906 N Lasalle St Indianapolis, IN	4.0	1.0	1032	$950	$0.92	23d	1	0.69mi
2920 N Lasalle St Indianapolis, IN	3.0	1.0	875	$1,095	$1.25	17d	1	0.72mi
2372 Beckwith Dr Indianapolis, IN	4.0	1.0–1.5	779	$1,206	$1.55	1d	32	0.73mi
2826 Station St Indianapolis, IN	3.0	2.0	1248	$1,550	$1.24	43d	1	0.75mi
2010 E 25th St Indianapolis, IN	2.0	1.0	792	$775	$0.98	23d	1	0.76mi
1550 N Rural St Indianapolis, IN	3.0	1.0	1388	$1,600	$1.15	43d	1	0.77mi
2616 Caroline Ave Indianapolis, IN	4.0	1.0	1276	$1,300	$1.02	43d	1	0.77mi
2949 Adams St Indianapolis, IN	2.0	1.0	978	$1,150	$1.18	43d	1	0.78mi
1505 N Tuxedo St Unit 1507 Indianapolis, IN	2.0	1.0	1000	$1,100	$1.10	43d	1	0.81mi
2931 N Tacoma Ave Unit 31 Indianapolis, IN	2.0	1.0	800	$950	$1.19	7d	1	0.83mi
3601 Brookside Parkway South Dr Indianapolis, IN	2.0	1.0	1025	$995	$0.97	43d	1	0.84mi
3601 Brookside Parkway South Dr Indianapolis, IN	2.0	1.0	1025	$995	$0.97	23d	1	0.84mi
3617 Brookside Parkway South Dr Indianapolis, IN	2.0	1.0	800	$999	$1.25	23d	1	0.86mi
1421 N Olney St Indianapolis, IN	2.0	1.0	1064	$975	$0.92	10d	1	0.88mi
2407 E 16th St Indianapolis, IN	3.0	1.0	1212	$1,450	$1.20	23d	1	0.88mi
2330 E 16th St Indianapolis, IN	3.0	1.5	1378	$1,450	$1.05	4d	1	0.88mi
2405 E 16th St Indianapolis, IN	3.0	1.0	1120	$1,450	$1.29	14d	1	0.88mi
2820 Caroline Ave Indianapolis, IN	3.0	1.5	1112	$1,250	$1.12	23d	1	0.89mi
1531 N Kealing Ave Indianapolis, IN	3.0	2.0	1250	$1,500	$1.20	23d	1	0.90mi
1531 N Kealing Ave Unit A Indianapolis, IN	3.0	2.0	1250	$1,397	$1.12	23d	1	0.90mi
1521 N Kealing Ave Indianapolis, IN	3.0	1.0	1250	$1,250	$1.00	17d	1	0.91mi
2030 N Colorado Ave Indianapolis, IN	2.0	1.0	728	$1,150	$1.58	23d	1	0.94mi
2862 N Chester Ave Indianapolis, IN	3.0	2.0	1076	$1,520	$1.41	43d	1	0.97mi
1341 N Gale St Indianapolis, IN	4.0	2.0	899	$2,000	$2.22	23d	1	0.99mi
1323 N Olney St Indianapolis, IN	2.0	1.0	1288	$945	$0.73	43d	1	1.00mi

Listing history 4 events

1. 2026-04-29
   price $99,900 1336-char remark

   Show marketing remark (1336 chars)

   This inviting single family residence stands prepared for its new occupants to simply move in and begin enjoying life. The heart of this residence centers around an exceptionally appointed kitchen, where the aesthetic appeal of shaker cabinets perfectly complements the sleek expanse of stone countertops. A thoughtfully designed backsplash adds a touch of refinement, while the generously sized kitchen island offers a perfect gathering spot for casual meals or culinary endeavors, fostering a sense of warmth and communal living. The pristine bathroom provides a rejuvenating retreat, featuring a spacious walk-in shower designed for comfort and ease, offering a serene start or end to each day. Beyond the central living spaces, three comfortable bedrooms provide private sanctuaries for quiet contemplation or peaceful slumber. With 1068 square feet of living area, the single family residence offers a well-proportioned layout, all situated on a single story for effortless navigation throughout the home. The property, built in 1963, also encompasses a substantial 6752 square foot lot area, presenting ample outdoor space for various pursuits and personal enjoyment. This single family residence truly offers a harmonious blend of practical comfort and inviting design, ready to inspire its next chapter of cherished moments.

2. 2026-04-15
   price $110,000 1336-char remark

   Show marketing remark (1336 chars)

   This inviting single family residence stands prepared for its new occupants to simply move in and begin enjoying life. The heart of this residence centers around an exceptionally appointed kitchen, where the aesthetic appeal of shaker cabinets perfectly complements the sleek expanse of stone countertops. A thoughtfully designed backsplash adds a touch of refinement, while the generously sized kitchen island offers a perfect gathering spot for casual meals or culinary endeavors, fostering a sense of warmth and communal living. The pristine bathroom provides a rejuvenating retreat, featuring a spacious walk-in shower designed for comfort and ease, offering a serene start or end to each day. Beyond the central living spaces, three comfortable bedrooms provide private sanctuaries for quiet contemplation or peaceful slumber. With 1068 square feet of living area, the single family residence offers a well-proportioned layout, all situated on a single story for effortless navigation throughout the home. The property, built in 1963, also encompasses a substantial 6752 square foot lot area, presenting ample outdoor space for various pursuits and personal enjoyment. This single family residence truly offers a harmonious blend of practical comfort and inviting design, ready to inspire its next chapter of cherished moments.

3. 2026-04-01
   price $115,000 1336-char remark

   Show marketing remark (1336 chars)

   This inviting single family residence stands prepared for its new occupants to simply move in and begin enjoying life. The heart of this residence centers around an exceptionally appointed kitchen, where the aesthetic appeal of shaker cabinets perfectly complements the sleek expanse of stone countertops. A thoughtfully designed backsplash adds a touch of refinement, while the generously sized kitchen island offers a perfect gathering spot for casual meals or culinary endeavors, fostering a sense of warmth and communal living. The pristine bathroom provides a rejuvenating retreat, featuring a spacious walk-in shower designed for comfort and ease, offering a serene start or end to each day. Beyond the central living spaces, three comfortable bedrooms provide private sanctuaries for quiet contemplation or peaceful slumber. With 1068 square feet of living area, the single family residence offers a well-proportioned layout, all situated on a single story for effortless navigation throughout the home. The property, built in 1963, also encompasses a substantial 6752 square foot lot area, presenting ample outdoor space for various pursuits and personal enjoyment. This single family residence truly offers a harmonious blend of practical comfort and inviting design, ready to inspire its next chapter of cherished moments.

4. 2026-03-21
   listed $120,000 Active 1336-char remark

   Show marketing remark (1336 chars)

   This inviting single family residence stands prepared for its new occupants to simply move in and begin enjoying life. The heart of this residence centers around an exceptionally appointed kitchen, where the aesthetic appeal of shaker cabinets perfectly complements the sleek expanse of stone countertops. A thoughtfully designed backsplash adds a touch of refinement, while the generously sized kitchen island offers a perfect gathering spot for casual meals or culinary endeavors, fostering a sense of warmth and communal living. The pristine bathroom provides a rejuvenating retreat, featuring a spacious walk-in shower designed for comfort and ease, offering a serene start or end to each day. Beyond the central living spaces, three comfortable bedrooms provide private sanctuaries for quiet contemplation or peaceful slumber. With 1068 square feet of living area, the single family residence offers a well-proportioned layout, all situated on a single story for effortless navigation throughout the home. The property, built in 1963, also encompasses a substantial 6752 square foot lot area, presenting ample outdoor space for various pursuits and personal enjoyment. This single family residence truly offers a harmonious blend of practical comfort and inviting design, ready to inspire its next chapter of cherished moments.

ⓘ 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: $1,816 · $151/mo
• Projected year-2 tax: $1,816 · $151/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: $15,472
• − Mortgage interest: −$5,596
• − Property taxes: −$1,816
• − Insurance: −$500
• − Repairs & maintenance: −$1,238
• − Management: −$1,238
• − Depreciation: −$2,906
• Taxable income: $2,179
• Est. tax owed @ 24.0%: −$523
• After-tax cash flow: $3,098/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): 29,360
• Household income: $38,063
• Rent vs Own: 47.2% rent · 52.8% own
• Severe rent burden: 2340.0

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 Black (68%)
• Race & ethnicity: Black 68% White 18% Hispanic / Latino 9% Two or more races 6%
• Hispanic origin (detail): Mexican 6%
• Common ancestry: Romanian 1%
• Foreign-born: 5% · Canada, Philippines
• Languages at home: 92% English-only · Spanish 7%

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: ▼ -81.57%
• Current HPI: 395.7071
• Rent YoY: ▲ 0.81%
• 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

-16.8% since first listed

4 events — show timeline

• 2026-04-29 Price Changed $99,900 MIBOR as Distributed by MLS Grid
• 2026-04-15 Price Changed $110,000 MIBOR as Distributed by MLS Grid
• 2026-04-01 Price Changed $115,000 MIBOR as Distributed by MLS Grid
• 2026-03-21 Listed $120,000 MIBOR as Distributed by MLS Grid

Property tax history

+29.9%/yr

Latest (2025): $1,816 · +85.9% YoY. Source: county tax records.