922 N Oakland Ave · Indianapolis city (balance), IN 46201

$179,900

3 bd · 2.0 ba · 1,272 sqft · Townhouse public records · 445 Days on market

Built 2025 5,184 sqft lot $141/sqft · at area comps Est $170k · 6% over ↓ 5% since listing

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Why this score? — see what drove the D- 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 +14.5/30.0
• ARV discount +4.9/15.0
• DSCR +4.4/10.0
• Rent growth +4.3/5.0
• 1% rule +3.2/10.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.4/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

A spectacular 3 bed, 2 full bath new construction townhouse in the popular Rivoli Park neighborhood on Indy's Near-Eastside.Located minutes from Mass Avenue, Bottleworks District, Kan-Kan Cinema & Brasserie, Mayfair Taproom, Tick Tock Lounge, Centerpoint Brewing, 8th Day Distillery, Shin Dig Restaurant, Side Door Bagel, Sam's Square Pie and everything downtown Indy has to offer. 3 of 4 available townhomes. Income restrictions apply.

Key facts

• Brasserie
• Mass avenue
• Bottleworks district

Tags

• NEW CONSTRUCTION TOWNHOUSE
• RIVOLI PARK NEIGHBORHOOD
• MASS AVENUE
• BOTTLEWORKS DISTRICT
• KAN-KAN CINEMA
• BRASSERIE

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath townhouse listed at $180k.

Deal economics

• At list price, monthly cash flow is $40 ($484/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 $147k (18.3% below list).
• Recommended offer: $147k (18.3% below list) — sets the bar for 1% rule.
• Cap rate 6.6% 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 D — 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); 483 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 25d 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 36% 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 $1k of loan paydown is wiped out by about $5k 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 445 days — a 12% lower offer ($158k) is reasonable based on typical stale-listing flexibility.

Recommended offer $146,922 (18.3% below list)

Questions for the listing agent

1. It's been on market 445 days. Have you received any prior offers? Is the seller open to a 18% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 0.82% ✗
• Cap rate: 6.56%
• Cash-on-cash: 0.96%
• DSCR: 1.04
• GRM: 10.2

CMA / ARV

• ARV (median comp): $170,000
• List price: $179,900
• Delta: 5.82%
• Verdict: FAIR
• Comps: 19 within 1.0 mi

Show comp detail 8 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2609 E New York St	0.64mi	3/2.5	1,271 (-0%)	2mo	$170,000	$134	66
2607 E New York St	0.64mi	3/3.5	1,271 (-0%)	2mo	$175,000	$138	62
2613 E New York St	0.63mi	3/2.5	1,271 (-0%)	8mo	$170,000	$134	62
249 N Temple Ave	0.68mi	3/2.5	1,271 (-0%)	7mo	$170,000	$134	61
251 N Temple Ave	0.68mi	3/2.5	1,271 (-0%)	7mo	$170,000	$134	60
2605 E New York St	0.65mi	3/3.5	1,271 (-0%)	8mo	$175,000	$138	57
824 N Lasalle St	0.22mi	2/1.0 (-1)	1,428 (+12%)	4mo	$79,000	$55	57
822 N Lasalle St	0.23mi	2/1.0 (-1)	1,428 (+12%)	4mo	$79,000	$55	57

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: -10.5%
• Equity multiple: 0.60×
• Total profit: $-19,990
• Equity at exit: $26,824

10-year hold

• IRR: 3.6%
• Equity multiple: 1.31×
• Total profit: $15,502
• Equity at exit: $15,554

Cash invested: $50,372 (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 46201

• Home prices YoY: -33.9%
• Rents YoY: 7.3%
• Active inventory: 483
• Price-to-rent: 10.2×

Monthly cashflow live

• Estimated rent: $1,469 high
• Mortgage (P&I): −$943
• Tax from tax record: −$102 /mo · $1,224/yr
• Insurance: −$75
• HOA: −$0
• Vacancy / Maint / Mgmt: −$309
• Net cashflow: $40

Break-even live

Break-even rent $1,418

Max offer price $179,900

Occupancy floor 92%

Sensitivity live

Price	-10% $142	-5% $91	+0% $40	+5% $-11	+10% $-62
Rent	-10% $-76	-5% $-18	+0% $40	+5% $98	+10% $156
Rate	-1.0pp $131	-0.5pp $86	base $40	+0.5pp $-6	+1.0pp $-54

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: $44,975
• Closing costs: $5,397
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
849 N Oakland Ave Indianapolis, IN	4.0	3.0	1638	$2,350	$1.43	13d	1	0.06mi
3101 E 10th St #301 Indianapolis, IN	2.0	1.0	921	$1,195	$1.30	45d	1	0.08mi
3030 E 10th St Indianapolis, IN	2.0	1.0	950	$900	$0.95	23d	1	0.10mi
818 N Oakland Ave Unit 46201 Indianapolis, IN	3.0	1.5	1332	$1,550	$1.16	45d	1	0.12mi
933 N Dearborn St Indianapolis, IN	3.0	1.5	1204	$1,500	$1.25	45d	1	0.12mi
1036 N Parker Ave Indianapolis, IN	4.0	2.0	1342	$1,745	$1.30	5d	1	0.17mi
1038 N Parker Ave Indianapolis, IN	4.0	2.0	1342	$1,745	$1.30	5d	1	0.17mi
849 N Rural St Unit 849 Indianapolis, IN	3.0	2.5	1300	$2,000	$1.54	45d	1	0.19mi
840 N Lasalle St Indianapolis, IN	3.0	1.0	1215	$1,100	$0.91	25d	1	0.19mi
909 N Lasalle St Indianapolis, IN	3.0	2.0	1717	$1,600	$0.93	45d	1	0.19mi
851 N Rural St Indianapolis, IN	3.0	2.5	1300	$1,700	$1.31	25d	1	0.19mi
639 N Gray St Indianapolis, IN	3.0	1.5	1120	$1,220	$1.09	45d	1	0.19mi
632 N Gray St Indianapolis, IN	3.0	1.0	960	$1,800	$1.88	45d	1	0.20mi
637 N Gray St Indianapolis, IN	3.0	1.5	1120	$1,150	$1.03	45d	1	0.20mi
645 N Oxford St Indianapolis, IN	4.0	1.5	1344	$1,500	$1.12	25d	1	0.20mi
852 N Rural St Indianapolis, IN	2.0	1.5	1528	$1,300	$0.85	25d	1	0.21mi
1113 N Oxford St Indianapolis, IN	3.0	2.0	1100	$1,495	$1.36	9d	1	0.23mi
916 N Tuxedo St Indianapolis, IN	3.0	1.0	1256	$1,195	$0.95	0d	1	0.24mi
1119 N Dearborn St Indianapolis, IN	3.0	1.5	1200	$1,249	$1.04	45d	1	0.24mi
639 N Rural St Indianapolis, IN	3.0	1.0	1000	$1,675	$1.68	19d	1	0.26mi
960 Eastern Ave Indianapolis, IN	3.0	1.5	1616	$1,500	$0.93	45d	1	0.26mi
960 Eastern Ave Indianapolis, IN	3.0	1.5	1616	$1,500	$0.93	25d	1	0.26mi
953 N Tuxedo St Indianapolis, IN	3.0	1.0	1200	$950	$0.79	25d	1	0.26mi
1018 N Tuxedo St Unit 1016 Indianapolis, IN	3.0	1.5	1250	$1,099	$0.88	45d	1	0.27mi
1018 N Tuxedo St Unit 1016 Indianapolis, IN	3.0	1.5	1250	$1,099	$0.88	0d	1	0.27mi
1112 N Rural St Unit 1110 Indianapolis, IN	2.0	1.5	1204	$1,150	$0.96	25d	1	0.28mi
1214 N Oakland Ave Indianapolis, IN	3.0	2.0	1464	$1,350	$0.92	15d	1	0.28mi
1216 N Oakland Ave Indianapolis, IN	3.0	2.0	1464	$1,550	$1.06	15d	1	0.28mi
619 N Rural St Indianapolis, IN	3.0	2.0	1300	$1,600	$1.23	25d	1	0.29mi
515 N Oxford St Indianapolis, IN	2.0	1.5	1728	$1,050	$0.61	4d	1	0.36mi
510 N Dearborn St Indianapolis, IN	3.0	1.0	1008	$1,350	$1.34	45d	1	0.37mi
2814 E Michigan St Unit D Indianapolis, IN	2.0	1.5	949	$1,350	$1.42	45d	1	0.40mi
2903 E Michigan St Indianapolis, IN	3.0	2.0	1310	$1,650	$1.26	16d	1	0.40mi
2810 E Michigan St Unit C Indianapolis, IN	2.0	1.5	949	$1,350	$1.42	45d	1	0.40mi
3123 E Michigan St Indianapolis, IN	2.0	1.0	1200	$625	$0.52	0d	1	0.40mi
1015 N Gale St Indianapolis, IN	3.0	2.0	1200	$1,550	$1.29	16d	1	0.41mi
627 N Tacoma Ave Indianapolis, IN	3.0	1.0	1160	$1,350	$1.16	12d	1	0.42mi
625 N Tacoma Ave Indianapolis, IN	3.0	1.0	1160	$1,350	$1.16	12d	1	0.42mi
613-615 N Jefferson Indianapolis, IN	3.0	1.0	1030	$1,600	$1.55	16d	1	0.42mi
430 N Dearborn St Indianapolis, IN	3.0	1.0	1128	$1,300	$1.15	45d	1	0.45mi

Listing history 3 events

1. 2025-09-21
   price $179,900 440-char remark

   Show marketing remark (440 chars)

   A spectacular 3 bed, 2 full bath new construction townhouse in the popular Rivoli Park neighborhood on Indy's Near-Eastside.Located minutes from Mass Avenue, Bottleworks District, Kan-Kan Cinema & Brasserie, Mayfair Taproom, Tick Tock Lounge, Centerpoint Brewing, 8th Day Distillery, Shin Dig Restaurant, Side Door Bagel, Sam's Square Pie and everything downtown Indy has to offer. 3 of 4 available townhomes. Income restrictions apply.

2. 2025-09-05
   price $184,900 440-char remark

   Show marketing remark (440 chars)

   A spectacular 3 bed, 2 full bath new construction townhouse in the popular Rivoli Park neighborhood on Indy's Near-Eastside.Located minutes from Mass Avenue, Bottleworks District, Kan-Kan Cinema & Brasserie, Mayfair Taproom, Tick Tock Lounge, Centerpoint Brewing, 8th Day Distillery, Shin Dig Restaurant, Side Door Bagel, Sam's Square Pie and everything downtown Indy has to offer. 3 of 4 available townhomes. Income restrictions apply.

3. 2025-03-07
   listed $190,000 Active 440-char remark

   Show marketing remark (440 chars)

   A spectacular 3 bed, 2 full bath new construction townhouse in the popular Rivoli Park neighborhood on Indy's Near-Eastside.Located minutes from Mass Avenue, Bottleworks District, Kan-Kan Cinema & Brasserie, Mayfair Taproom, Tick Tock Lounge, Centerpoint Brewing, 8th Day Distillery, Shin Dig Restaurant, Side Door Bagel, Sam's Square Pie and everything downtown Indy has to offer. 3 of 4 available townhomes. Income restrictions apply.

ⓘ 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: $1,224 · $102/mo
• Projected year-2 tax: $1,377 · $115/mo
• Expected delta: +$153/yr (+$13/mo · 12.5%)

ⓘ 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 100% 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: $17,631
• − Mortgage interest: −$10,077
• − Property taxes: −$1,224
• − Insurance: −$900
• − Repairs & maintenance: −$1,410
• − Management: −$1,410
• − Depreciation: −$5,233
• Taxable loss: −$2,624
• Est. tax savings @ 24.0%: +$630
• After-tax cash flow: $1,114/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

-5.3% since first listed

3 events — show timeline

• 2025-09-21 Price Changed $179,900 MIBOR as Distributed by MLS Grid
• 2025-09-05 Price Changed $184,900 MIBOR as Distributed by MLS Grid
• 2025-03-07 Listed $190,000 MIBOR as Distributed by MLS Grid