2550 S Pennsylvania St · Indianapolis city (balance), IN 46225

$110,000

2 bd · 1.0 ba · 912 sqft · SingleFamily public records · 1 Days on market

Built 1946 4,617 sqft lot Est $176k · 38% under

---

Why this score? — see what drove the B- 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 +24.9/30.0
• ARV discount +15.0/15.0
• DSCR +8.1/10.0
• 1% rule +5.7/10.0
• Rent growth +5.0/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.4/10.0
• Appreciation +0.0/10.0

Listing remarks

If these walls could talk. .. " they would tell the story of a home that has been deeply loved and exceptionally cared for since 1974. The same owner made a lifetime of memories here, and it shows in every detail of this well-maintained 3 bedroom, 1 bath home. From the moment you step inside, you'll appreciate the character and craftsmanship that are hard to find in today's new construction. The gleaming hardwood flooring in the entry has been protected beneath carpet for years and is now ready to shine once again. The eat-in kitchen offers an abundance of cabinet space and comes complete with all appliances. Vinyl replacement windows have updated the home while maintaining its charm,

Key facts

• Eat-in kitchen
• 4,617 sq ft lot
• Built 1946

Tags

• GLEAMING HARDWOOD FLOORING
• EAT-IN KITCHEN
• VINYL REPLACEMENT WINDOWS
• OVERSIZED FAMILY ROOM
• LARGE BUILT-IN CABINETRY
• GLASS-ENCLOSED SIDE PORCH

Property features AI

Finance

• HOA & community: Not a low-maintenance lifestyle community

Exterior

• Parking: On-street parking
• Utilities: Public water; Municipal sewer connected; Electricity connected; Natural gas connected; Cable available; Solid waste service available; Renewable fuel source
• Home design: Single-family residence; One-story
• Construction: Aluminum siding, brick, and block construction; Block foundation
• Exterior features: Covered, glass-enclosed porch/patio; Mini barn on property; City lot with sidewalks and mature trees; Less than 1/4 acre lot

Interior

• Kitchen: Gas oven; Range hood; Microwave; Refrigerator; Eat-in kitchen
• Bedrooms: 3 bedrooms on the main level (bedroom split layout)
• Flooring: Hardwood floors
• Bathrooms: 1 full bathroom with tub and shower
• Heating & cooling: Natural gas heat; Whole-house fan; Window air conditioning units
• Interior features: Hardwood floors; Eat-in kitchen; Covered, glass-enclosed porch/patio; Mini barn
• Laundry & utility: Washer and dryer included; Laundry room on the main level; Laundry in unit

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $110k.

Deal economics

• At list price, monthly cash flow is $237 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $110k).
• Cap rate 8.9% 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 B — 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.
• Zoned schools: George Washington High School (math 2% / reading 17%, grade F, #366 of 369 statewide, top 99%, 753 students, 68% FRL).
• Market conditions: Rents rising fast (+11.0%/yr); 129 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 $761 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.
• At projected returns (-3.0% appreciation + 8.0% rent growth), your $31k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1946 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $110,000

Questions for the listing agent

1. Built in 1946 — 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: 1.07% ✓
• Cap rate: 8.88%
• Cash-on-cash: 9.25%
• DSCR: 1.41
• GRM: 7.8

CMA / ARV

• ARV (on-the-fly): $176,016
• Comps found: 6

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2550 S Pennsylvania St	0.00mi	3/1.0 (+1)	912 (0%)	1mo	$110,000	$121	94
113 W Gimber St	0.35mi	2/1.0	1,008 (+10%)	10mo	$170,000	$169	58
121 W Gimber St	0.36mi	3/1.5 (+1)	1,008 (+10%)	5mo	$193,000	$191	54
2825 S Delaware St	0.36mi	3/1.0 (+1)	1,035 (+14%)	6mo	$200,000	$193	51
806 Cameron St	0.66mi	2/1.0	1,034 (+13%)	1mo	$210,000	$203	46
806 E Gimber St	0.63mi	3/1.0 (+1)	1,008 (+10%)	21mo	$208,450	$207	31

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 · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 2.8%
• Equity multiple: 1.11×
• Total profit: $3,469
• Equity at exit: $16,401

10-year hold

• IRR: 16.4%
• Equity multiple: 2.64×
• Total profit: $50,616
• Equity at exit: $9,511

Cash invested: $30,800 (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 46225

• Home prices YoY: -8.2%
• Rents YoY: 11.0%
• Active inventory: 129
• Price-to-rent: 7.8×

Monthly cashflow live

• Estimated rent: $1,174 high
• Mortgage (P&I): −$577
• Tax from tax record: −$67 /mo · $808/yr
• Insurance: −$46
• HOA: −$0
• Vacancy / Maint / Mgmt: −$247
• Net cashflow: $237

Break-even live

Break-even rent $873

Max offer price $110,000

Occupancy floor 75%

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: $27,500
• Closing costs: $3,300
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
265 E Southern Ave Indianapolis, IN	1.0–2.0	1.0	800	$1,150	$1.44	2d	2	0.28mi
272 Hoefgen St Unit 1336809P Indianapolis, IN	2.0	1.0	592	$2,055	$3.47	1d	1	0.30mi
2314 Union St Indianapolis, IN	3.0	2.0	892	$1,295	$1.45	43d	1	0.31mi
2859 S Meridian St Indianapolis, IN	1.0–2.0	1.0	771	$906	$1.17	23d	2	0.33mi
2859 S Meridian St Indianapolis, IN	1.0–2.0	1.0	771	$906	$1.17	43d	2	0.33mi
2904 S Pennsylvania St Indianapolis, IN	1.0	1.0	750	$725	$0.97	23d	2	0.43mi
2760 S East St Indianapolis, IN	2.0–3.0	2.0	1072	$895	$0.83	3d	3	0.46mi
2236 Ransdell St Indianapolis, IN	2.0	1.0	850	$1,150	$1.35	43d	1	0.48mi
2830 S East St Indianapolis, IN	2.0	1.0	656	$1,200	$1.83	43d	1	0.51mi
2209 Ransdell St Indianapolis, IN	2.0	1.0	710	$900	$1.27	43d	1	0.55mi
215 W Troy Ave Indianapolis, IN	2.0	1.0	600	$1,095	$1.82	21d	1	0.62mi
360 Sandra Ln Indianapolis, IN	1.0–2.0	1.0	562	$1,494	$2.66	11d	9	0.66mi
360 Sandra Ln Unit 110-062 Indianapolis, IN	2.0	1.0	621	$949	$1.53	7d	1	0.66mi
360 Sandra Ln Unit 314-D59 Indianapolis, IN	2.0	1.0	621	$1,011	$1.63	3d	1	0.66mi
360 Sandra Ln Unit 319-D126 Indianapolis, IN	2.0	1.0	621	$960	$1.55	2d	1	0.66mi
360 Sandra Ln Unit 110-064 Indianapolis, IN	2.0	1.0	621	$961	$1.55	2d	1	0.66mi
360 Sandra Ln Unit 115-044 Indianapolis, IN	2.0	1.0	621	$999	$1.61	3d	1	0.66mi
360 Sandra Ln Unit 109-013 Indianapolis, IN	2.0	1.0	621	$1,029	$1.66	4d	1	0.66mi
114 Adler St Indianapolis, IN	2.0	1.0	688	$795	$1.16	43d	1	0.86mi
1819 Union St Unit 1817 Indianapolis, IN	3.0	2.0	1020	$1,199	$1.18	43d	1	0.86mi
1756 Delaware St Indianapolis, IN	3.0	2.0	1014	$1,300	$1.28	43d	1	0.91mi
1756 S Delaware St Unit 1754 Indianapolis, IN	3.0	2.0	1014	$1,300	$1.28	14d	1	0.91mi
2555 Shelby St Unit 2559 Indianapolis, IN	1.0	1.0	717	$1,250	$1.74	43d	1	0.94mi
2525 Shelby St Unit 4 Indianapolis, IN	1.0	1.0	600	$775	$1.29	23d	1	0.94mi
2525 Shelby St Unit 1 Indianapolis, IN	1.0	1.0	600	$865	$1.44	2d	1	0.95mi
1011 E Raymond St Indianapolis, IN	2.0	2.0	1100	$1,350	$1.23	23d	1	0.95mi
620 E Beecher St Indianapolis, IN	3.0	2.0	1072	$1,639	$1.53	19d	1	0.96mi
1861 Orleans St Indianapolis, IN	1.0	1.0	552	$2,500	$4.53	23d	1	1.00mi
2103 Ringgold Ave Indianapolis, IN	1.0	1.0	1090	$775	$0.71	13d	1	1.01mi
2948 Shelby St Unit D Indianapolis, IN	2.0	1.0	750	$1,025	$1.37	43d	1	1.03mi
1144 McDougal St Indianapolis, IN	3.0	1.0	876	$1,500	$1.71	21d	1	1.05mi
512 E Minnesota St Unit 203 Indianapolis, IN	2.0	1.0	903	$1,195	$1.32	23d	1	1.12mi
118 E Palmer St Indianapolis, IN	1.0	1.0	600	$649	$1.08	43d	1	1.12mi
118 E Palmer St #120 Indianapolis, IN	1.0	1.0	600	$825	$1.38	17d	1	1.12mi
118 E Palmer St #122 Indianapolis, IN	1.0	1.0	600	$875	$1.46	43d	1	1.12mi
823 Iowa St Indianapolis, IN	2.0	1.0	812	$1,100	$1.35	43d	1	1.14mi
1524 S Talbott St #3 Indianapolis, IN	1.0	1.0	1011	$725	$0.72	7d	1	1.14mi
1461 S Meridian St Unit A Indianapolis, IN	1.0	1.0	800	$950	$1.19	43d	1	1.20mi
1436 S New Jersey St Unit C Indianapolis, IN	2.0	2.0	600	$1,600	$2.67	43d	1	1.23mi
1436 S New Jersey St Unit B Indianapolis, IN	2.0	2.0	650	$1,700	$2.62	7d	1	1.23mi

Listing history 2 events

1. 2026-05-13
   status Pending
2. 2026-05-12
   listed $110,000 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: $808 · $67/mo
• Projected year-2 tax: $872 · $73/mo
• Expected delta: +$63/yr (+$5/mo · 7.9%)

ⓘ 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 ≥101°F today · 18 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 0% 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: $14,086
• − Mortgage interest: −$6,162
• − Property taxes: −$808
• − Insurance: −$550
• − Repairs & maintenance: −$1,127
• − Management: −$1,127
• − Depreciation: −$3,200
• Taxable income: $1,113
• Est. tax owed @ 24.0%: −$267
• After-tax cash flow: $2,581/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): 6,037
• Household income: $55,190
• Rent vs Own: 44.0% rent · 56.0% own
• Severe rent burden: 311.0

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 (68%)
• Race & ethnicity: White 68% Two or more races 12% Black 11% Hispanic / Latino 10% Asian 2%
• Hispanic origin (detail): Mexican 6%
• Common ancestry: Romanian 2% Italian 2% Slovak 1%
• Foreign-born: 9% · Canada
• Languages at home: 88% English-only · Spanish 10% 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: ▼ -36.19%
• Current HPI: 403.9271
• Rent YoY: ▲ 10.98%
• 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

2 events — show timeline

• 2026-05-13 Pending — MIBOR as Distributed by MLS Grid
• 2026-05-12 Listed $110,000 MIBOR as Distributed by MLS Grid

Property tax history

+7.3%/yr

Latest (2025): $808 · +2.5% YoY. Source: county tax records.