2430 E 16th St · Indianapolis city (balance), IN 46201

$79,990

2 bd · 1.0 ba · 858 sqft · SingleFamily public records · 1 Days on market

Built 1923 4,269 sqft lot

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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 +29.3/30.0
• DSCR +10.0/10.0
• 1% rule +9.3/10.0
• ARV discount +7.5/15.0
• Rent growth +4.3/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.4/10.0
• Appreciation +0.0/10.0

Listing remarks

Bungalow with great potential featuring hardwood floors, good closet space, and a spacious front porch perfect for relaxing or entertaining. Furnace was updated within the past year and the roof was replaced in 2019. The 1-car garage provides added convenience and storage. Convenient location located less than 10 minutes from several downtown attractions and amenities. A great opportunity to make this home your own!

Key facts

• Good closet space
• Spacious front porch
• Replaced roof

Tags

• HARDWOOD FLOORS
• GOOD CLOSET SPACE
• SPACIOUS FRONT PORCH
• UPDATED FURNACE
• REPLACED ROOF
• CONVENIENT LOCATION

Property features AI

Finance

• Other: Lot under 1/4 acre

Exterior

• Parking: Detached garage (1 car)
• Utilities: Public water; Municipal sewer connected; 100 amp electric service; Solid waste service available
• Home design: Single-family residence; One story; Property listed as fixer
• Construction: Wood siding; Block foundation
• Exterior features: Covered porch/patio; No fence

Interior

• Kitchen: Kitchen on main level
• Bedrooms: 2 bedrooms on the main level
• Flooring: Hardwood floors
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating; No central air
• Interior features: Attic access; Hardwood floors
• Laundry & utility: Laundry connections (all)

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $80k.

Deal economics

• At list price, monthly cash flow is $282 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $80k).
• Cap rate 10.5% 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: Center For Inquiry School 27 (math 25% / reading 29%, grade F, #737 of 994 statewide, top 76%, 525 students, 51% FRL); H L Harshman Middle School (math 3% / reading 16%, grade F, #316 of 330 statewide, top 96%, 549 students, 84% FRL); Arsenal Technical High School (math 6% / reading 27%, grade F, #353 of 369 statewide, top 96%, 2,366 students, 74% FRL).
• 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 26d on market — plan ~3-4 weeks tenant-placement turnaround); 42% of comp listings sitting > 30 days — soft ceiling on asking rent; 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 $554 of loan paydown is wiped out by about $2k 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 + 7.3% rent growth), your $22k cash investment doubles in ~6 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: property tax is 2.6% of price; built in 1923 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $79,990

Questions for the listing agent

1. Built in 1923 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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.
5. 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.
6. 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: 1.43% ✓
• Cap rate: 10.53%
• Cash-on-cash: 15.12%
• DSCR: 1.67
• GRM: 5.8

CMA / ARV

• ARV (on-the-fly): $196,482
• Comps found: 6

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
946 N Temple Ave	0.52mi	2/1.0	875 (+2%)	11mo	$200,000	$229	63
1022 Jefferson Ave	0.47mi	2/1.0	780 (-9%)	3mo	$215,000	$276	61
2934 E Brookside Ave	0.54mi	3/1.0 (+1)	912 (+6%)	7mo	$50,000	$55	54
2030 Houston St	0.74mi	3/2.0 (+1)	912 (+6%)	7mo	$130,000	$143	41
1925 N Dearborn St	0.58mi	2/1.0	971 (+13%)	21mo	$105,000	$108	34
1016 N Newman St	0.75mi	2/1.0	784 (-9%)	22mo	$195,000	$249	32

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: 11.0%
• Equity multiple: 1.46×
• Total profit: $10,258
• Equity at exit: $11,927

10-year hold

• IRR: 23.5%
• Equity multiple: 3.48×
• Total profit: $55,601
• Equity at exit: $6,916

Cash invested: $22,397 (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: 5.8×

Monthly cashflow live

• Estimated rent: $1,147 high
• Mortgage (P&I): −$419
• Tax from tax record: −$171 /mo · $2,056/yr
• Insurance: −$33
• HOA: −$0
• Vacancy / Maint / Mgmt: −$241
• Net cashflow: $282

Break-even live

Break-even rent $790

Max offer price $79,990

Occupancy floor 70%

Sensitivity live

Price	-10% $327	-5% $305	+0% $282	+5% $259	+10% $237
Rent	-10% $192	-5% $237	+0% $282	+5% $327	+10% $373
Rate	-1.0pp $322	-0.5pp $302	base $282	+0.5pp $261	+1.0pp $240

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: $19,998
• Closing costs: $2,400
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2405 E 16th St Indianapolis, IN	3.0	1.0	1120	$1,450	$1.29	16d	1	0.05mi
1315 N Rural St Indianapolis, IN	1.0	1.0	700	$1,000	$1.43	6d	1	0.28mi
2310 E 12th St Indianapolis, IN	2.0	1.0	900	$1,200	$1.33	45d	1	0.29mi
2827 E 18th St Indianapolis, IN	2.0	1.0	726	$1,300	$1.79	25d	1	0.32mi
3058 Brookside Parkway North Dr Indianapolis, IN	1.0	1.0	700	$875	$1.25	14d	1	0.38mi
2841 E 19th St Indianapolis, IN	2.0	1.0	812	$850	$1.05	6d	1	0.38mi
2437 E 11th St Indianapolis, IN	1.0	1.0	975	$1,500	$1.54	45d	1	0.39mi
2815 Brookside Ave Indianapolis, IN	3.0	2.0	1120	$1,350	$1.21	12d	1	0.39mi
1113 N Oxford St Indianapolis, IN	3.0	2.0	1100	$1,495	$1.36	9d	1	0.44mi
1931 N Oxford St Indianapolis, IN	1.0	1.0	616	$875	$1.42	5d	1	0.49mi
3030 E 10th St Indianapolis, IN	2.0	1.0	950	$900	$0.95	23d	1	0.58mi
1114 N Dearborn St Indianapolis, IN	1.0	1.0	646	$795	$1.23	46d	1	0.58mi
3101 E 10th St #301 Indianapolis, IN	2.0	1.0	921	$1,195	$1.30	45d	1	0.60mi
1505 N Tuxedo St Unit 1507 Indianapolis, IN	2.0	1.0	1000	$1,100	$1.10	45d	1	0.63mi
1354 N Olney St Unit 1356 Indianapolis, IN	1.0	1.0	765	$775	$1.01	45d	1	0.69mi
2045 N Dearborn St Indianapolis, IN	3.0	2.0	912	$1,145	$1.26	25d	1	0.69mi
835 Tecumseh St Indianapolis, IN	3.0	2.0	1100	$1,550	$1.41	6d	1	0.69mi
1421 N Olney St Indianapolis, IN	2.0	1.0	1064	$975	$0.92	12d	1	0.71mi
1421 N Olney St Indianapolis, IN	2.0	1.0	1064	$975	$0.92	0d	1	0.71mi
1036 N Tuxedo St Indianapolis, IN	1.0	1.0	646	$750	$1.16	6d	1	0.72mi
1301 N Olney St Unit 1303 Indianapolis, IN	2.0	1.0	750	$1,100	$1.47	45d	1	0.74mi
1358 N Gale St Indianapolis, IN	1.0	1.0	550	$890	$1.62	18d	1	0.75mi
639 N Rural St Indianapolis, IN	3.0	1.0	1000	$1,675	$1.68	19d	1	0.76mi
1028 N Olney St Unit 1030 Indianapolis, IN	1.0	1.0	700	$800	$1.14	25d	1	0.79mi
850 N Dearborn St Indianapolis, IN	1.0	1.0	784	$750	$0.96	45d	1	0.79mi
628 N Oxford St Indianapolis, IN	1.0	1.0	536	$775	$1.45	25d	1	0.79mi
3601 Brookside Parkway South Dr Indianapolis, IN	2.0	1.0	1025	$995	$0.97	25d	1	0.81mi
3601 Brookside Parkway South Dr Indianapolis, IN	2.0	1.0	1025	$995	$0.97	45d	1	0.81mi
1106 N Gale St Unit 1 Indianapolis, IN	2.0	1.0	750	$895	$1.19	45d	1	0.82mi
621 Tecumseh St Indianapolis, IN	2.0	1.0	726	$1,025	$1.41	45d	1	0.82mi
784 Woodruff Place Middle Dr Indianapolis, IN	1.0	1.0	750	$1,300	$1.73	45d	1	0.82mi
679 Woodruff Place East Dr Indianapolis, IN	1.0	1.0	600	$895	$1.49	25d	1	0.84mi
1644 Doctor Andrew J Brown Ave Unit A&B Indianapolis, IN	1.0	1.0	550	$1,300	$2.36	45d	1	0.84mi
3617 Brookside Parkway South Dr Indianapolis, IN	2.0	1.0	800	$999	$1.25	25d	1	0.84mi
632 N Gray St Indianapolis, IN	3.0	1.0	960	$1,800	$1.88	45d	1	0.85mi
639 N Gray St Indianapolis, IN	3.0	1.5	1120	$1,220	$1.09	45d	1	0.86mi
637 N Gray St Indianapolis, IN	3.0	1.5	1120	$1,150	$1.03	46d	1	0.86mi
3709 Brookside Parkway South Dr Indianapolis, IN	1.0	1.0	742	$825	$1.11	25d	1	0.88mi
1532 N Sherman Dr Unit 1530 Sherman Indianapolis, IN	1.0	1.0	768	$550	$0.72	3d	1	0.91mi
1401 E 10th St Unit 122 Indianapolis, IN	1.0	1.0	781	$1,250	$1.60	45d	1	0.92mi

Listing history 2 events

1. 2026-05-14
   status Pending
2. 2026-05-13
   listed $79,990 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: $2,056 · $171/mo
• Projected year-2 tax: $2,056 · $171/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 3/10 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: $13,765
• − Mortgage interest: −$4,481
• − Property taxes: −$2,056
• − Insurance: −$400
• − Repairs & maintenance: −$1,101
• − Management: −$1,101
• − Depreciation: −$2,327
• Taxable income: $2,300
• Est. tax owed @ 24.0%: −$552
• After-tax cash flow: $2,834/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

2 events — show timeline

• 2026-05-14 Pending — MIBOR as Distributed by MLS Grid
• 2026-05-13 Listed $79,990 MIBOR as Distributed by MLS Grid

Property tax history

+5.2%/yr

Latest (2025): $2,056 · +15.4% YoY. Source: county tax records.