5423 Lobo Dr · Indianapolis city (balance), IN 46237

$214,900

3 bd · 1.0 ba · 910 sqft · SingleFamily public records · 43 Days on market

Built 1981 7,275 sqft lot Est $178k · 20% over

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Why this score? — see what drove the F 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 +13.1/30.0
• Schools +4.0/10.0
• DSCR +3.9/10.0
• Rent growth +3.4/5.0
• 1% rule +3.0/10.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

If you are looking for a move in ready, immaculately cared for 3 bedroom, 1 full bath within the the highly rated franklin Township Community, then look no further! This cozy home is nestled in a family friendly neighborhood with curb appeal that certainly turns heads with its freshly painted exterior, custom mailbox, and flower boxes. Upon entry, any potential home buyer will certainly appreciate the thoughtful touches put into this home such as keyless entry and fresh paint throughout, and new living room floors. The HVAC unit 2024. The garage space has been converted to an additional living space that may be converted back into a single car garage, the choice is yours. Stepping outback you will find a privacy fenced in yard with a large storage shed, a spacious patio, an above ground pool, and a Balboa Hot Tub that seats 5 people. Alarm system is APX but is deactivated at this time. Come see the charm of this amazing home for yourself before it is gone!

Key facts

• Shed for storage
• Zero hoa fees
• Private hot tub

Tags

• PRIVATE HOT TUB
• FULLY FENCED BACKYARD
• SHED FOR STORAGE
• ZERO HOA FEES

Property features AI

Exterior

• Parking: Attached garage (1 car)
• Utilities: Public water; Municipal sewer connected
• Home design: Single-family residence; One story
• Construction: Vinyl and wood siding; Slab foundation
• Exterior features: Lot under 1/4 acre (about 0.17 acres)

Interior

• Kitchen: Electric cooktop; Electric oven; Microwave; Dishwasher; Garbage disposal; Refrigerator
• Bedrooms: Three bedrooms on the main level; Bedroom 2 on main level (approximately 10 x 9); Bedroom 3 on main level (approximately 11 x 9)
• Bathrooms: One full bathroom (main level)
• Heating & cooling: Electric heating; Central air conditioning
• Interior features: Attic with pull-down stairs; Eat-in kitchen; Living room (approximately 14 x 12); Kitchen (approximately 13 x 12); Additional main-level room (approximately 14 x 11)
• Laundry & utility: Main-level laundry room (approximately 8 x 7); Water heater

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $215k.

Deal economics

• At list price, monthly cash flow is $-8 ($-100/yr) — negative.
• To cash-flow at today's rent, offer at most $213k (0.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $172k (20.0% below list).
• Recommended offer: $172k (20.0% below list) — sets the bar for 1% rule.
• Cap rate 6.2% 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 F — affects rentability + tenant quality, not the cash-flow math above.
• Franklin Township Community School Corporation (urban): math 42% / reading 47% proficiency, ranked #87 of 301 in IN (top 29%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising (+3.8%/yr); 261 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals leasing fast (median 2d 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 43 days — a 3% lower offer ($208k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 21y 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.

Recommended offer $171,830 (20.0% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 43 days. Have you received any prior offers? Is the seller open to a 20% concession, seller financing, or rate buy-down credit?
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: 0.80% ✗
• Cap rate: 6.25%
• Cash-on-cash: -0.17%
• DSCR: 0.99
• GRM: 10.4

CMA / ARV

• ARV (on-the-fly): $178,360
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
5179 Laredo St	0.21mi	3/1.0	912 (+0%)	1mo	$184,300	$202	90
5338 Straw Hat Ct	0.13mi	3/1.0	936 (+3%)	4mo	$183,000	$196	86
5427 Straw Hat Dr	0.07mi	3/1.5	936 (+3%)	6mo	$179,500	$192	85
5249 Straw Hat Dr	0.17mi	3/1.0	936 (+3%)	4mo	$157,000	$168	84
5334 Straw Hat Ct	0.14mi	3/1.5	960 (+6%)	2mo	$184,900	$193	81
5416 Straw Hat Dr	0.08mi	3/1.5	936 (+3%)	12mo	$207,900	$222	79
5209 Laredo St	0.20mi	3/1.5	912 (+0%)	13mo	$189,900	$208	77
5168 Laredo St	0.21mi	3/1.0	920 (+1%)	16mo	$152,000	$165	76
5117 Bahia Dr	0.33mi	3/1.5	910 (0%)	12mo	$215,000	$236	72
5326 Brazos Dr	0.25mi	2/1.0 (-1)	980 (+8%)	12mo	$190,000	$194	60
5855 La Fleur Ct	0.43mi	3/1.0	1,014 (+11%)	13mo	$213,000	$210	50
5737 Misty Ridge Cir	0.40mi	2/1.0 (-1)	1,018 (+12%)	13mo	$188,000	$185	46

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 · 3.78% rent growth · sell at horizon

5-year hold

• IRR: -15.8%
• Equity multiple: 0.43×
• Total profit: $-34,042
• Equity at exit: $32,042

10-year hold

• IRR: -6.2%
• Equity multiple: 0.59×
• Total profit: $-24,854
• Equity at exit: $18,581

Cash invested: $60,172 (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 46237

• Rents YoY: 3.8%
• Active inventory: 261
• Price-to-rent: 10.4×

Monthly cashflow live

• Estimated rent: $1,718 high
• Mortgage (P&I): −$1,127
• Tax from tax record: −$149 /mo · $1,792/yr
• Insurance: −$90
• HOA: −$0
• Vacancy / Maint / Mgmt: −$361
• Net cashflow: $-8

Break-even live

Break-even rent $1,729

Max offer price $213,428

Occupancy floor 95%

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: $53,725
• Closing costs: $6,447
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5334 Padre Ln Indianapolis, IN	3.0	1.5	1016	$1,695	$1.67	14d	1	0.29mi
5140 Emerson Village Pl Indianapolis, IN	1.0–2.0	1.0–2.0	805	$1,360	$1.69	1d	16	0.40mi
4901 S Emerson Ave Indianapolis, IN	1.0–4.0	1.0–2.0	998	$1,712	$1.71	1d	10	0.62mi
416 Ada Ln Beech Grove, IN	3.0	2.0	1043	$1,661	$1.59	1d	1	1.29mi
4880 Willow Glen Dr Beech Grove, IN	1.0–3.0	1.0–1.5	971	$1,695	$1.75	2d	34	1.30mi
240 Grovewood Pl Unit 228 Beech Grove, IN	2.0	1.0	900	$1,110	$1.23	21d	1	1.43mi
240 Grovewood Pl Unit 228 Beech Grove, IN	2.0	1.0	900	$1,215	$1.35	43d	1	1.43mi
4649 Strawbridge St Indianapolis, IN	2.0–3.0	1.0–1.5	983	$1,175	$1.19	1d	11	1.49mi

Listing history 27 events

1. 2026-06-18
   days on market $214,900 Active 43 DOM
2. 2026-06-17
   days on market $214,900 Active 42 DOM
3. 2026-06-16
   days on market $214,900 Active 41 DOM
4. 2026-06-15
   days on market $214,900 Active 40 DOM
5. 2026-06-13
   days on market $214,900 Active 38 DOM
6. 2026-06-09
   days on market $214,900 Active 34 DOM
7. 2026-06-08
   days on market $214,900 Active 33 DOM
8. 2026-06-07
   days on market $214,900 Active 32 DOM
9. 2026-06-03
   days on market $214,900 Active 28 DOM
10. 2026-06-02
    days on market $214,900 Active 27 DOM
11. 2026-06-01
    days on market $214,900 Active 26 DOM
12. 2026-05-31
    days on market $214,900 Active 25 DOM
13. 2026-05-04
    listed $214,900 Active
14. 2024-10-18
    soldstatus $197,000 Closed 980-char remark

    Show marketing remark (980 chars)

    If you are looking for a move in ready, immaculately cared for 3 bedroom, 1 full bath within the the highly rated franklin Township Community, then look no further! This cozy home is nestled in a family friendly neighborhood with curb appeal that certainly turns heads with its freshly painted exterior, custom mailbox, and flower boxes. Upon entry, any potential home buyer will certainly appreciate the thoughtful touches put into this home such as keyless entry and fresh paint throughout, and new living room floors. The HVAC unit 2024. The garage space has been converted to an additional living space that may be converted back into a single car garage, the choice is yours. Stepping outback you will find a privacy fenced in yard with a large storage shed, a spacious patio, an above ground pool, and a Balboa Hot Tub that seats 5 people. Alarm system is APX but is deactivated at this time. Come see the charm of this amazing home for yourself before it is gone!

15. 2024-09-12
    status Pending 980-char remark

    Show marketing remark (980 chars)

    If you are looking for a move in ready, immaculately cared for 3 bedroom, 1 full bath within the the highly rated franklin Township Community, then look no further! This cozy home is nestled in a family friendly neighborhood with curb appeal that certainly turns heads with its freshly painted exterior, custom mailbox, and flower boxes. Upon entry, any potential home buyer will certainly appreciate the thoughtful touches put into this home such as keyless entry and fresh paint throughout, and new living room floors. The HVAC unit 2024. The garage space has been converted to an additional living space that may be converted back into a single car garage, the choice is yours. Stepping outback you will find a privacy fenced in yard with a large storage shed, a spacious patio, an above ground pool, and a Balboa Hot Tub that seats 5 people. Alarm system is APX but is deactivated at this time. Come see the charm of this amazing home for yourself before it is gone!

16. 2024-09-09
    listed $197,000 Active 980-char remark

    Show marketing remark (980 chars)

    If you are looking for a move in ready, immaculately cared for 3 bedroom, 1 full bath within the the highly rated franklin Township Community, then look no further! This cozy home is nestled in a family friendly neighborhood with curb appeal that certainly turns heads with its freshly painted exterior, custom mailbox, and flower boxes. Upon entry, any potential home buyer will certainly appreciate the thoughtful touches put into this home such as keyless entry and fresh paint throughout, and new living room floors. The HVAC unit 2024. The garage space has been converted to an additional living space that may be converted back into a single car garage, the choice is yours. Stepping outback you will find a privacy fenced in yard with a large storage shed, a spacious patio, an above ground pool, and a Balboa Hot Tub that seats 5 people. Alarm system is APX but is deactivated at this time. Come see the charm of this amazing home for yourself before it is gone!

17. 2024-01-16
    historical
18. 2024-01-16
    listed $190,000 Active
19. 2018-04-09
    soldstatus $99,500 Sold
20. 2018-03-12
    status Pending
21. 2018-03-06
    listed $99,500 Active
22. 2010-07-12
    historical
23. 2009-06-11
    listed $79,900
24. 2008-03-27
    soldstatus $67,250
25. 2008-02-28
    listed $67,900
26. 2006-02-21
    historical
27. 2005-08-23
    listed $89,900

ⓘ 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: $1,792 · $149/mo
• Projected year-2 tax: $1,809 · $151/mo
• Expected delta: +$18/yr (+$1/mo · 1.0%)

ⓘ 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 100% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $20,620
• − Mortgage interest: −$12,038
• − Property taxes: −$1,792
• − Insurance: −$1,074
• − Repairs & maintenance: −$1,650
• − Management: −$1,650
• − Depreciation: −$6,252
• Taxable loss: −$3,835
• Est. tax savings @ 24.0%: +$920
• After-tax cash flow: $820/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: Franklin Township Community School Corporation
• NCES district ID: 1803750
• Math proficiency: 42% ▼ -12.00%
• Reading proficiency: 47% ▼ -6.00%
• Median HH income: $67,825
• Composite: 39.91/100
• National rank: #3852
• State rank: #87 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): 43,473
• Household income: $79,078
• Rent vs Own: 31.1% rent · 68.9% own
• Severe rent burden: 1245.0

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 White (71%)
• Race & ethnicity: White 71% Asian 13% Hispanic / Latino 7% Two or more races 6% Black 5%
• Hispanic origin (detail): Mexican 6%
• Common ancestry: Italian 2% Lithuanian 2% Romanian 2%
• Foreign-born: 12% · Canada, Philippines
• Languages at home: 84% English-only · Other Asian/Pacific 5% Spanish 5% Other Indo-European 4%

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: ▼ -180.33%
• Current HPI: 238.9661
• Rent YoY: ▲ 3.78%
• 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

+139.0% since first listed

15 events — show timeline

• 2026-05-04 Listed $214,900 MIBOR as Distributed by MLS Grid
• 2024-10-18 Sold (MLS) $197,000 MIBOR as Distributed by MLS Grid
• 2024-09-12 Pending — MIBOR as Distributed by MLS Grid
• 2024-09-09 Listed $197,000 MIBOR as Distributed by MLS Grid
• 2024-01-16 Listed $190,000 MIBOR as Distributed by MLS Grid
• 2024-01-16 Listing Removed — MIBOR as Distributed by MLS Grid
• 2018-04-09 Sold (MLS) $99,500 MIBOR as Distributed by MLS Grid
• 2018-03-12 Pending — MIBOR as Distributed by MLS Grid
• 2018-03-06 Listed $99,500 MIBOR as Distributed by MLS Grid
• 2010-07-12 Listing Removed — MIBOR as Distributed by MLS Grid
• 2009-06-11 Listed $79,900 MIBOR as Distributed by MLS Grid
• 2008-03-27 Sold (MLS) $67,250 MIBOR as Distributed by MLS Grid
• 2008-02-28 Listed $67,900 MIBOR as Distributed by MLS Grid
• 2006-02-21 Listing Removed — MIBOR as Distributed by MLS Grid
• 2005-08-23 Listed $89,900 MIBOR as Distributed by MLS Grid

Property tax history

+11.9%/yr

Latest (2025): $1,792 · +20.5% YoY. Source: county tax records.