1826 Tallman Ave · Indianapolis city (balance), IN 46218

$104,900

2 bd · 2.0 ba · 896 sqft · SingleFamily public records · 124 Days on market

Built 1910 4,879 sqft lot $117/sqft · at area comps Est $134k · 22% 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 +20.1/30.0
• ARV discount +15.0/15.0
• 1% rule +7.1/10.0
• DSCR +6.4/10.0
• 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

Just East of 19th and Hillside, this 2 bedroom and 2 bathroom home needs some love to get back to functioning. Perched on top of a hill, with large garage outbuilding, this home could make a nice addition to your rental portfolio at a inexpensive price. Property appears to have a newer roof and windows and has gone through a partial rental renovation. Home needs appliances, heating and cooling, and cosmetics to make functioning again. Garage is large but is dilapidated. No offers from wholesalers or sight unseen offers will be entertained. Agents, please read private remarks for offer submission.

Key facts

• Newer roof
• Newer windows
• 4,879 sq ft lot

Tags

• NEWER ROOF
• NEWER WINDOWS
• PARTIAL RENTAL RENOVATION

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath single-family listed at $105k.

Deal economics

• At list price, monthly cash flow is $131 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $105k).
• Recommended offer: $92k (12.0% below list) — sets the bar for market timing.
• Cap rate 7.8% 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; 336 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 23d 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 40% 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 $725 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 124 days — a 12% lower offer ($92k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 8y ago; this cycle's ask has dropped $15k (13%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $50k; list at $105k implies a 110% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 3.2% of price; built in 1910 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $92,312 (12.0% below list)

Questions for the listing agent

1. It's been on market 124 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 1910 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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.
7. 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.
8. 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: 1.21% ✓
• Cap rate: 7.80%
• Cash-on-cash: 5.37%
• DSCR: 1.24
• GRM: 6.9

CMA / ARV

• ARV (median comp): $134,290
• List price: $104,900
• Delta: -21.89%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1453 E 24th St	0.67mi	2/1.0	912 (+2%)	14mo	$125,000	$137	50
2222 N Arsenal Ave	0.50mi	2/1.0	772 (-14%)	17mo	$89,900	$116	35
1818 E 11th St	0.69mi	2/1.0	1,006 (+12%)	14mo	$160,050	$159	32
2429 N Arsenal Ave	0.74mi	3/1.0 (+1)	1,008 (+12%)	12mo	$93,500	$93	26
1016 N Newman St	0.74mi	2/1.0	784 (-12%)	22mo	$195,000	$249	22
1830 Bellefontaine St	0.70mi	3/1.5 (+1)	1,008 (+12%)	23mo	$265,000	$263	20

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: -10.8%
• Equity multiple: 0.62×
• Total profit: $-11,250
• Equity at exit: $15,641

10-year hold

• IRR: -5.5%
• Equity multiple: 0.68×
• Total profit: $-9,314
• Equity at exit: $9,070

Cash invested: $29,372 (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: 336
• Price-to-rent: 6.9×

Monthly cashflow live

• Estimated rent: $1,269 high
• Mortgage (P&I): −$550
• Tax from tax record: −$277 /mo · $3,323/yr
• Insurance: −$44
• HOA: −$0
• Vacancy / Maint / Mgmt: −$266
• Net cashflow: $131

Break-even live

Break-even rent $1,102

Max offer price $104,900

Occupancy floor 85%

Sensitivity live

Price	-10% $191	-5% $161	+0% $131	+5% $102	+10% $72
Rent	-10% $31	-5% $81	+0% $131	+5% $182	+10% $232
Rate	-1.0pp $184	-0.5pp $158	base $131	+0.5pp $104	+1.0pp $77

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: $26,225
• Closing costs: $3,147
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1644 Doctor Andrew J Brown Ave Unit A&B Indianapolis, IN	1.0	1.0	550	$1,300	$2.36	44d	1	0.33mi
2405 E 16th St Indianapolis, IN	3.0	1.0	1120	$1,450	$1.29	15d	1	0.56mi
1515 Lewis St Indianapolis, IN	2.0	1.0–2.0	782	$2,049	$2.62	2d	11	0.59mi
2372 Beckwith Dr Indianapolis, IN	4.0	1.0–1.5	779	$1,064	$1.36	2d	32	0.67mi
2310 E 12th St Indianapolis, IN	2.0	1.0	900	$1,200	$1.33	44d	1	0.69mi
2815 Brookside Ave Indianapolis, IN	3.0	2.0	1120	$1,350	$1.21	11d	1	0.76mi
2827 E 18th St Indianapolis, IN	2.0	1.0	726	$1,300	$1.79	24d	1	0.78mi
2029 N College Ave Unit G Indianapolis, IN	1.0	1.0	750	$999	$1.33	44d	1	0.79mi
2841 E 19th St Indianapolis, IN	2.0	1.0	812	$850	$1.05	5d	1	0.79mi
1401 E 10th St Unit 122 Indianapolis, IN	1.0	1.0	781	$1,250	$1.60	44d	1	0.81mi
2056 N College Ave Indianapolis, IN	3.0	2.0	900	$1,650	$1.83	4d	1	0.83mi
2010 E 25th St Indianapolis, IN	2.0	1.0	792	$775	$0.98	24d	1	0.84mi
1931 N Oxford St Indianapolis, IN	1.0	1.0	616	$875	$1.42	5d	1	0.85mi
2437 E 11th St Indianapolis, IN	1.0	1.0	975	$1,500	$1.54	44d	1	0.86mi
1315 N Rural St Indianapolis, IN	1.0	1.0	700	$1,000	$1.43	5d	1	0.87mi
3058 Brookside Parkway North Dr Indianapolis, IN	1.0	1.0	700	$875	$1.25	13d	1	0.88mi
1450 N College Ave Unit 17 Indianapolis, IN	2.0	1.0	850	$1,050	$1.24	17d	1	0.89mi
1450 N College Ave Unit 18 Indianapolis, IN	2.0	1.0	850	$1,050	$1.24	44d	1	0.89mi
835 Tecumseh St Indianapolis, IN	3.0	2.0	1100	$1,550	$1.41	5d	1	0.93mi
784 Woodruff Place Middle Dr Indianapolis, IN	1.0	1.0	750	$1,300	$1.73	44d	1	0.95mi
2549 Columbia Ave Unit 1332865P Indianapolis, IN	3.0	2.0	893	$2,274	$2.55	3d	1	0.95mi
2045 N Dearborn St Indianapolis, IN	3.0	2.0	912	$1,145	$1.26	24d	1	1.01mi
2530 N Temple Ave Indianapolis, IN	1.0	1.0	720	$750	$1.04	21d	1	1.02mi
1113 N Oxford St Indianapolis, IN	3.0	2.0	1100	$1,495	$1.36	8d	1	1.02mi
502 E 17th St Indianapolis, IN	2.0	1.0	802	$1,495	$1.86	4d	1	1.02mi
2529 Guilford Ave Unit A Indianapolis, IN	2.0	1.5	1000	$1,495	$1.50	44d	1	1.03mi
679 Woodruff Place East Dr Indianapolis, IN	1.0	1.0	600	$895	$1.49	24d	1	1.05mi
621 Tecumseh St Indianapolis, IN	2.0	1.0	726	$1,025	$1.41	44d	1	1.05mi
658 E 11th St Indianapolis, IN	1.0–2.0	1.0	595	$1,075	$1.81	4d	7	1.06mi
1118 E Saint Clair St Indianapolis, IN	2.0	2.0	984	$2,200	$2.24	44d	1	1.06mi
2821 Oxford Ln Indianapolis, IN	1.0	1.0	640	$825	$1.29	44d	1	1.08mi
888 Massachusetts Ave Unit 1014221P Indianapolis, IN	3.0	3.0	807	$5,027	$6.23	8d	1	1.08mi
1637 N New Jersey St Indianapolis, IN	1.0	1.0	860	$1,499	$1.74	44d	1	1.10mi
2820 Caroline Ave Indianapolis, IN	3.0	1.5	1112	$1,250	$1.12	24d	1	1.11mi
1335 Central Ave #4 Indianapolis, IN	1.0	1.0	780	$1,400	$1.79	24d	1	1.11mi
1335 Central Ave Indianapolis, IN	1.0	1.0	780	$1,375	$1.76	15d	1	1.11mi
2136 Central Ave Indianapolis, IN	3.0	1.0–2.0	1325	$2,766	$2.09	2d	33	1.12mi
3030 E 10th St Indianapolis, IN	2.0	1.0	950	$900	$0.95	23d	1	1.15mi
1429 N New Jersey St Apt 4 Indianapolis, IN	1.0	1.0	1050	$15,450	$14.71	44d	1	1.16mi
306 E 19th St Unit 1B Indianapolis, IN	2.0	1.0	700	$1,175	$1.68	15d	1	1.16mi

Listing history 30 events

1. 2026-06-21
   days on market $104,900 Active 124 DOM
2. 2026-06-18
   days on market $104,900 Active 121 DOM
3. 2026-06-17
   days on market $104,900 Active 120 DOM
4. 2026-06-16
   days on market $104,900 Active 119 DOM
5. 2026-06-15
   days on market $104,900 Active 118 DOM
6. 2026-06-13
   days on market $104,900 Active 116 DOM
7. 2026-06-13
   days on market $104,900 Active 115 DOM
8. 2026-06-09
   days on market $104,900 Active 112 DOM
9. 2026-06-08
   days on market $104,900 Active 111 DOM
10. 2026-06-07
    days on market $104,900 Active 110 DOM
11. 2026-06-03
    pricedays on market $104,900 Active 106 DOM
12. 2026-06-02
    days on market $109,900 Active 105 DOM
13. 2026-06-01
    days on market $109,900 Active 104 DOM
14. 2026-05-31
    days on market $109,900 Active 103 DOM
15. 2026-05-01
    price $109,900 603-char remark

    Show marketing remark (603 chars)

    Just East of 19th and Hillside, this 2 bedroom and 2 bathroom home needs some love to get back to functioning. Perched on top of a hill, with large garage outbuilding, this home could make a nice addition to your rental portfolio at a inexpensive price. Property appears to have a newer roof and windows and has gone through a partial rental renovation. Home needs appliances, heating and cooling, and cosmetics to make functioning again. Garage is large but is dilapidated. No offers from wholesalers or sight unseen offers will be entertained. Agents, please read private remarks for offer submission.

16. 2026-03-31
    price $114,900 603-char remark

    Show marketing remark (603 chars)

    Just East of 19th and Hillside, this 2 bedroom and 2 bathroom home needs some love to get back to functioning. Perched on top of a hill, with large garage outbuilding, this home could make a nice addition to your rental portfolio at a inexpensive price. Property appears to have a newer roof and windows and has gone through a partial rental renovation. Home needs appliances, heating and cooling, and cosmetics to make functioning again. Garage is large but is dilapidated. No offers from wholesalers or sight unseen offers will be entertained. Agents, please read private remarks for offer submission.

17. 2026-02-17
    listed $119,900 Active 603-char remark

    Show marketing remark (603 chars)

    Just East of 19th and Hillside, this 2 bedroom and 2 bathroom home needs some love to get back to functioning. Perched on top of a hill, with large garage outbuilding, this home could make a nice addition to your rental portfolio at a inexpensive price. Property appears to have a newer roof and windows and has gone through a partial rental renovation. Home needs appliances, heating and cooling, and cosmetics to make functioning again. Garage is large but is dilapidated. No offers from wholesalers or sight unseen offers will be entertained. Agents, please read private remarks for offer submission.

18. 2025-07-18
    historical
19. 2025-01-19
    listed $119,900 Active
20. 2023-08-24
    soldstatus $50,000 Closed
21. 2023-08-10
    status Pending
22. 2023-07-10
    status Active
23. 2023-06-27
    status Pending
24. 2023-06-16
    price $75,000
25. 2023-05-25
    listed $85,000 Active
26. 2018-04-12
    soldstatus $9,000 Sold
27. 2018-04-03
    status Pending
28. 2018-03-14
    price $9,800
29. 2018-02-24
    listed $9,900 Active
30. 2018-02-19
    soldstatus $14,064

ⓘ 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: $3,323 · $277/mo
• Projected year-2 tax: $3,323 · $277/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 4/10 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: $15,224
• − Mortgage interest: −$5,876
• − Property taxes: −$3,323
• − Insurance: −$524
• − Repairs & maintenance: −$1,218
• − Management: −$1,218
• − Depreciation: −$3,052
• Taxable income: $13
• Est. tax owed @ 24.0%: −$3
• After-tax cash flow: $1,575/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

+681.4% since first listed

16 events — show timeline

• 2026-05-01 Price Changed $109,900 MIBOR as Distributed by MLS Grid
• 2026-03-31 Price Changed $114,900 MIBOR as Distributed by MLS Grid
• 2026-02-17 Listed $119,900 MIBOR as Distributed by MLS Grid
• 2025-07-18 Listing Removed — MIBOR as Distributed by MLS Grid
• 2025-01-19 Listed $119,900 MIBOR as Distributed by MLS Grid
• 2023-08-24 Sold (MLS) $50,000 MIBOR as Distributed by MLS Grid
• 2023-08-10 Pending — MIBOR as Distributed by MLS Grid
• 2023-07-10 Relisted — MIBOR as Distributed by MLS Grid
• 2023-06-27 Pending — MIBOR as Distributed by MLS Grid
• 2023-06-16 Price Changed $75,000 MIBOR as Distributed by MLS Grid
• 2023-05-25 Listed $85,000 MIBOR as Distributed by MLS Grid
• 2018-04-12 Sold (MLS) $9,000 MIBOR as Distributed by MLS Grid
• 2018-04-03 Pending — MIBOR as Distributed by MLS Grid
• 2018-03-14 Price Changed $9,800 MIBOR as Distributed by MLS Grid
• 2018-02-24 Listed $9,900 MIBOR as Distributed by MLS Grid
• 2018-02-19 Sold (Public Records) $14,064 Public Records

Property tax history

+31.2%/yr

Latest (2025): $3,323 · -13.9% YoY. Source: county tax records.