3821 N Tacoma Ave · Indianapolis city (balance), IN 46205

$129,000

2 bd · 1.0 ba · 816 sqft · SingleFamily public records · 30 Days on market

Built 1948 6,403 sqft lot Est $122k · 6% over

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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 +23.8/30.0
• DSCR +7.7/10.0
• 1% rule +5.3/10.0
• ARV discount +4.8/15.0
• Rent growth +4.1/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.4/10.0
• Appreciation +0.0/10.0

Listing remarks

This 2-bedroom, 1-bath ranch offers comfort, convenience, and potential. Inside, you'll find a spacious living room that flows into the dining area, a functional kitchen with access to a rear deck and an unfinished basement ready for your personal touch. The covered front porch is perfect for greeting guests or enjoying relaxing morning views of the sky, lawn, and mature trees. The asphalt driveway leads to a detached 1-car garage which provides more parking and storage space. Outside, the generous lot (0.15 acres) provides room to relax, garden, or entertain. The residence is being offered AS IS. This residence is located within walking distance of the YMCA, The Redline, and just minutes f

Key facts

• Functional kitchen
• Covered front porch
• Generous lot

Tags

• SPACIOUS LIVING ROOM
• FUNCTIONAL KITCHEN
• REAR DECK
• COVERED FRONT PORCH
• DETACHED GARAGE
• GENEROUS LOT

Property features AI

Exterior

• Parking: Detached garage (1 car)
• Utilities: Public water; Municipal sewer connected; Solid waste: none listed
• Home design: Single-family residence; One story
• Construction: Aluminum siding; Concrete perimeter and block foundation
• Exterior features: Covered patio/porch; Has view; Lot under 1/4 acre (approximately 0.15 acre)

Interior

• Kitchen: Gas cooktop
• Bedrooms: Two bedrooms on the main level
• Bathrooms: One full bathroom (main level)
• Heating & cooling: Natural gas heating; Central air conditioning
• Interior features: Has basement; Covered porch
• Laundry & utility: Washer and dryer; Water heater

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $129k.

Deal economics

• At list price, monthly cash flow is $249 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $129k).
• Recommended offer: $127k (1.5% below list) — sets the bar for market timing.
• Cap rate 8.6% 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 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 (+6.2%/yr); 314 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).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $892 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.
• At projected returns (-3.0% appreciation + 6.2% rent growth), your $36k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 30 days — a 2% lower offer ($127k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1948 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $127,065 (1.5% below list)

Questions for the listing agent

1. Built in 1948 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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.
4. 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.
5. 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: 1.03% ✓
• Cap rate: 8.61%
• Cash-on-cash: 8.26%
• DSCR: 1.37
• GRM: 8.1

CMA / ARV

• ARV (on-the-fly): $121,584
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3714 Hillside Ave	0.25mi	2/2.0	844 (+3%)	4mo	$143,900	$170	76
3706 Baltimore Ave	0.33mi	2/1.0	812 (-0%)	13mo	$40,000	$49	73
3930 Caroline Ave	0.33mi	2/1.0	812 (-0%)	18mo	$102,500	$126	69
3511 N Keystone Ave	0.43mi	2/1.0	837 (+3%)	10mo	$113,500	$136	67
3640 N Lasalle St	0.58mi	2/1.0	720 (-12%)	1mo	$139,500	$194	52
3932 Millersville Dr	0.27mi	3/1.0 (+1)	925 (+13%)	10mo	$100,000	$108	52
4221 Evanston Ave	0.59mi	2/1.0	899 (+10%)	15mo	$186,000	$207	43
4163 N Tacoma Ave	0.38mi	3/1.0 (+1)	925 (+13%)	16mo	$149,000	$161	41
2217 E 34th St	0.62mi	3/1.0 (+1)	912 (+12%)	15mo	$163,450	$179	34
2120 E 34th St	0.62mi	3/2.0 (+1)	900 (+10%)	19mo	$115,000	$128	29
3419 Hillside Ave	0.57mi	3/2.0 (+1)	912 (+12%)	19mo	$134,900	$148	29
4353 Evanston Ave	0.73mi	3/1.5 (+1)	936 (+15%)	12mo	$139,900	$149	24

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 · 6.21% rent growth · sell at horizon

5-year hold

• IRR: -0.5%
• Equity multiple: 0.98×
• Total profit: $-669
• Equity at exit: $19,234

10-year hold

• IRR: 12.1%
• Equity multiple: 2.08×
• Total profit: $39,118
• Equity at exit: $11,154

Cash invested: $36,120 (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 46205

• Rents YoY: 6.2%
• Active inventory: 314
• Price-to-rent: 8.1×

Monthly cashflow live

• Estimated rent: $1,331 high
• Mortgage (P&I): −$676
• Tax from tax record: −$73 /mo · $875/yr
• Insurance: −$54
• HOA: −$0
• Vacancy / Maint / Mgmt: −$280
• Net cashflow: $249

Break-even live

Break-even rent $1,017

Max offer price $129,000

Occupancy floor 76%

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: $32,250
• Closing costs: $3,870
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3741 N Tacoma Ave Indianapolis, IN	3.0	1.0	913	$2,200	$2.41	17d	1	0.10mi
3719 Hillside Ave Indianapolis, IN	1.0	1.0	644	$725	$1.13	23d	1	0.21mi
3763 Baltimore Ave Unit 3765 Indianapolis, IN	1.0	1.0	750	$750	$1.00	43d	1	0.25mi
3709 Kinnear Ave Indianapolis, IN	2.0	1.0	650	$1,000	$1.54	43d	1	0.40mi
3535 N Oxford St Indianapolis, IN	3.0	1.0	1015	$1,500	$1.48	21d	1	0.44mi
3723 Orchard Ave Unit 3723 Indianapolis, IN	1.0	1.5	700	$1,300	$1.86	23d	1	0.45mi
3472 N Dearborn St Indianapolis, IN	2.0	1.0	890	$1,099	$1.23	19d	1	0.60mi
1902 E 35th St Indianapolis, IN	3.0	1.0	1100	$1,600	$1.45	43d	1	0.65mi
3363 Nicholas Ave Indianapolis, IN	2.0	1.0	720	$1,000	$1.39	4d	1	0.66mi
4115 Meadows Dr Indianapolis, IN	1.0–3.0	1.0–2.0	1013	$1,374	$1.36	43d	9	0.71mi
3522 N Olney St Indianapolis, IN	3.0	1.0	768	$1,300	$1.69	43d	1	0.77mi
4303 Norwaldo Ave Indianapolis, IN	3.0	1.0	1050	$1,200	$1.14	43d	1	0.77mi
4326 Crittenden Ave Indianapolis, IN	2.0	1.0	812	$1,045	$1.29	20d	1	0.78mi
3615 Sherman Forest Dr Indianapolis, IN	4.0	1.0–2.5	1057	$1,288	$1.22	4d	1	0.78mi
4400 E Fall Creek Parkway North Dr Indianapolis, IN	1.0–2.0	1.0–1.5	857	$1,349	$1.57	1d	31	0.81mi
3421 N Olney St Indianapolis, IN	2.0	1.0	720	$1,195	$1.66	16d	1	0.86mi
4309 Ralston Ave Indianapolis, IN	3.0	1.0	918	$1,600	$1.74	14d	1	0.87mi
2511 E 46th St Indianapolis, IN	1.0–2.0	1.0–2.0	830	$1,305	$1.57	43d	2	0.91mi
3609 Balsam Ave Indianapolis, IN	1.0	1.0	541	$775	$1.43	3d	1	0.94mi
3609 Balsam Ave Indianapolis, IN	1.0	1.0	541	$755	$1.40	14d	1	0.94mi
3725 N Sherman Dr #7 Indianapolis, IN	2.0	1.0	729	$845	$1.16	4d	1	0.95mi
3610 Balsam Ave Indianapolis, IN	1.0	1.0	464	$775	$1.67	3d	9	0.97mi
4521 Norwaldo Ave Unit A Indianapolis, IN	2.0	1.5	1024	$1,525	$1.49	23d	1	1.01mi
4521 Norwaldo Ave Unit B Indianapolis, IN	2.0	1.5	1054	$1,600	$1.52	43d	1	1.01mi
2106 E 46th St Indianapolis, IN	1.0	1.0	552	$925	$1.68	10d	1	1.03mi
3383 Station St Indianapolis, IN	3.0	1.0	744	$1,250	$1.68	23d	1	1.04mi
3909 Winthrop Ave Unit B Indianapolis, IN	2.0	1.5	931	$1,550	$1.66	12d	1	1.10mi
2931 N Tacoma Ave Unit 31 Indianapolis, IN	2.0	1.0	800	$950	$1.19	7d	1	1.12mi
3207 N Arsenal Ave Indianapolis, IN	3.0	1.0	994	$1,195	$1.20	23d	1	1.13mi
4560 Marcy Ln Indianapolis, IN	1.0–2.0	1.0	770	$1,565	$2.03	14d	8	1.19mi
2930 N Dearborn St Indianapolis, IN	1.0	1.0	536	$599	$1.12	23d	1	1.20mi
916 Fairfield Ave Unit 918 Indianapolis, IN	3.0	1.0	1000	$1,300	$1.30	7d	1	1.21mi
3132 Dr Andrew J Brown Ave Indianapolis, IN	2.0	1.0–2.0	791	$2,120	$2.68	1d	46	1.24mi
2949 Adams St Indianapolis, IN	2.0	1.0	978	$1,150	$1.18	43d	1	1.24mi
2920 N Lasalle St Indianapolis, IN	3.0	1.0	875	$1,095	$1.25	17d	1	1.24mi
2820 Caroline Ave Indianapolis, IN	3.0	1.5	1112	$1,250	$1.12	23d	1	1.30mi
3716 N College Ave Unit 3 Indianapolis, IN	2.0	2.0	1100	$1,450	$1.32	43d	1	1.36mi
3139 Guilford Ave Indianapolis, IN	3.0	1.0	1068	$1,345	$1.26	43d	1	1.37mi
636 E 37th St Unit 5 Indianapolis, IN	2.0	1.0	700	$695	$0.99	23d	1	1.37mi
633 E 38th St #4 Indianapolis, IN	3.0	1.0	650	$1,050	$1.62	43d	1	1.39mi

Listing history 14 events

1. 2026-06-18
   days on market $129,000 Active 30 DOM
2. 2026-06-17
   days on market $129,000 Active 29 DOM
3. 2026-06-16
   days on market $129,000 Active 28 DOM
4. 2026-06-15
   days on market $129,000 Active 27 DOM
5. 2026-06-13
   days on market $129,000 Active 25 DOM
6. 2026-06-13
   days on market $129,000 Active 24 DOM
7. 2026-06-09
   days on market $129,000 Active 21 DOM
8. 2026-06-08
   days on market $129,000 Active 20 DOM
9. 2026-06-07
   days on market $129,000 Active 19 DOM
10. 2026-06-03
    days on market $129,000 Active 15 DOM
11. 2026-06-02
    days on market $129,000 Active 14 DOM
12. 2026-06-01
    days on market $129,000 Active 13 DOM
13. 2026-05-31
    days on market $129,000 Active 12 DOM
14. 2026-05-19
    listed $129,000 Active

ⓘ 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: $875 · $73/mo
• Projected year-2 tax: $986 · $82/mo
• Expected delta: +$111/yr (+$9/mo · 12.7%)

ⓘ 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 · 18 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: $15,975
• − Mortgage interest: −$7,226
• − Property taxes: −$875
• − Insurance: −$645
• − Repairs & maintenance: −$1,278
• − Management: −$1,278
• − Depreciation: −$3,753
• Taxable income: $921
• Est. tax owed @ 24.0%: −$221
• After-tax cash flow: $2,762/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): 28,259
• Household income: $72,417
• Rent vs Own: 46.3% rent · 53.7% own
• Severe rent burden: 1149.0

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 0.64)
• Race & ethnicity: White 50% Black 32% Two or more races 10% Hispanic / Latino 7% Asian 3%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Italian 3% Slovak 2% Romanian 2%
• Foreign-born: 5% · Canada
• Languages at home: 89% English-only · Spanish 6% Other Indo-European 2% German/W. Germanic 1%

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: ▼ -322.77%
• Current HPI: 380.5407
• Rent YoY: ▲ 6.21%
• 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

1 event — show timeline

• 2026-05-19 Listed $129,000 MIBOR as Distributed by MLS Grid

Property tax history

-0.7%/yr

Latest (2025): $875 · +34.2% YoY. Source: county tax records.