1621 Ingram St · Indianapolis city (balance), IN 46218

$265,000

3 bd · 2.0 ba · 2,364 sqft · SingleFamily public records · 110 Days on market

Built 1900 5,314 sqft lot $112/sqft · 26% below area Est $445k · 40% under

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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).

• ARV discount +15.0/15.0
• Cash flow +13.0/30.0
• DSCR +3.9/10.0
• Rent growth +2.7/5.0
• 1% rule +2.6/10.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.4/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

This charming two-story home, built in the 1900s, offers five bedrooms and two full bathrooms. The kitchen flows nicely into the dining and living areas, creating an open and welcoming space for everyday living and gatherings. Out back, there is a great area for kids to play or for enjoying time outdoors. This home has a warm, comfortable feel that truly stands out the moment you walk in-there's just something special about it that makes it feel like home.

Key facts

• 5,314 sq ft lot
• Built 1900
• Listed 109 days

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $265k.

Deal economics

• At list price, monthly cash flow is $-12 ($-146/yr) — negative.
• To cash-flow at today's rent, offer at most $263k (0.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $200k (24.4% below list).
• Recommended offer: $200k (24.4% 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 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.
• 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 flat; 338 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); lower-income renter base — watch delinquency; 1,906 units permitted in Marion County in 2024 (621 in 5+ unit buildings).
• At $2,004/mo this rent would consume 63% of the median local household income ($38k/yr) (locally 2340% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $8k 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 110 days — a 9% lower offer ($241k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 13y ago; this cycle's ask has dropped $35k (12%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $8k; list at $265k implies a 3433% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $200,350 (24.4% 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 110 days. Have you received any prior offers? Is the seller open to a 24% concession, seller financing, or rate buy-down credit?
3. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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.
8. 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.
9. 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: 0.76% ✗
• Cap rate: 6.24%
• Cash-on-cash: -0.20%
• DSCR: 0.99
• GRM: 11.0

CMA / ARV

• ARV (median comp): $444,681
• List price: $265,000
• Delta: -40.41%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1118 N Newman St	0.45mi	3/1.5	2,430 (+3%)	0mo	$300,000	$123	72
1520 Columbia Ave	0.36mi	3/3.5	2,453 (+4%)	1mo	$585,000	$238	70
1721 Alvord St	0.44mi	3/3.5	2,408 (+2%)	1mo	$658,500	$273	70
1121 N Newman St	0.44mi	4/1.5 (+1)	2,454 (+4%)	2mo	$274,000	$112	64
964 Tecumseh St	0.61mi	3/1.5	2,268 (-4%)	1mo	$260,000	$115	62
719 E 17th St	0.71mi	3/2.5	2,416 (+2%)	2mo	$350,000	$145	60
2051 Columbia Ave	0.52mi	3/2.5	2,170 (-8%)	1mo	$359,900	$166	59
1826 Rosette Way	0.50mi	3/2.5	2,127 (-10%)	1mo	$545,000	$256	57
958 Stillwell St	0.72mi	4/3.5 (+1)	2,412 (+2%)	2mo	$740,000	$307	50
1148 N Beville Ave	0.57mi	4/2.5 (+1)	2,064 (-13%)	2mo	$370,000	$179	44
1021 N Hamilton Ave	0.59mi	4/2.5 (+1)	2,058 (-13%)	2mo	$531,000	$258	42
1123 N Keystone Ave	0.68mi	4/3.5 (+1)	2,627 (+11%)	1mo	$530,000	$202	38

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 · 0.81% rent growth · sell at horizon

5-year hold

• IRR: -18.8%
• Equity multiple: 0.35×
• Total profit: $-48,150
• Equity at exit: $39,512

10-year hold

• IRR: -15.9%
• Equity multiple: 0.19×
• Total profit: $-60,358
• Equity at exit: $22,912

Cash invested: $74,200 (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 46218

• Home prices YoY: -17.1%
• Rents YoY: 0.8%
• Active inventory: 338
• Price-to-rent: 11.0×

Monthly cashflow live

• Estimated rent: $2,004 high
• Mortgage (P&I): −$1,390
• Tax from tax record: −$95 /mo · $1,138/yr
• Insurance: −$110
• HOA: −$0
• Vacancy / Maint / Mgmt: −$421
• Net cashflow: $-12

Break-even live

Break-even rent $2,019

Max offer price $262,856

Occupancy floor 96%

Sensitivity live

Price	-10% $138	-5% $63	+0% $-12	+5% $-87	+10% $-162
Rent	-10% $-170	-5% $-91	+0% $-12	+5% $67	+10% $146
Rate	-1.0pp $121	-0.5pp $55	base $-12	+0.5pp $-81	+1.0pp $-151

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: $66,250
• Closing costs: $7,950
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1706 Ingram St Indianapolis, IN	3.0	2.0	2592	$2,000	$0.77	9d	1	0.08mi
1226 N Beville Ave Indianapolis, IN	3.0	2.5	3273	$4,129	$1.26	25d	1	0.52mi
2418 E 16th St Indianapolis, IN	2.0	1.5	1863	$2,125	$1.14	25d	1	0.55mi
1314 E 10th St Indianapolis, IN	2.0	2.0	1701	$1,650	$0.97	46d	1	0.58mi
2536 E 17th St Indianapolis, IN	2.0	2.0	2086	$1,450	$0.70	6d	1	0.66mi
1949 Carrollton Ave Indianapolis, IN	4.0	3.5	2617	$2,995	$1.14	45d	1	0.73mi
2323 N Arsenal Ave Indianapolis, IN	4.0	2.0	1699	$1,050	$0.62	0d	1	0.79mi
2221 Bellefontaine St Indianapolis, IN	3.0	2.5	1712	$2,349	$1.37	25d	1	0.85mi
890 Massachusetts Ave Unit 1014223P Indianapolis, IN	3.0	3.0	1991	$5,540	$2.78	3d	1	0.88mi
635 Jefferson Ave Indianapolis, IN	3.0	1.5	1744	$1,700	$0.97	45d	1	0.89mi
960 Eastern Ave Indianapolis, IN	3.0	1.5	1616	$1,500	$0.93	25d	1	0.89mi
656 N Beville Ave Indianapolis, IN	3.0	2.5	2121	$3,500	$1.65	25d	1	0.89mi
960 Eastern Ave Indianapolis, IN	3.0	1.5	1616	$1,500	$0.93	45d	1	0.89mi
2246 Bellefontaine St Indianapolis, IN	4.0	2.5	2587	$2,300	$0.89	25d	1	0.90mi
1813 Livery Way Indianapolis, IN	2.0	2.5	1715	$2,490	$1.45	4d	1	1.04mi
1228 Central Ave Indianapolis, IN	2.0	1.5	1599	$1,950	$1.22	13d	1	1.06mi
1927 N Dearborn St Indianapolis, IN	3.0	1.0	2182	$1,495	$0.69	45d	1	1.07mi
1430 N New Jersey St Indianapolis, IN	3.0	3.5	2180	$3,000	$1.38	45d	1	1.08mi
441 N Highland Ave Unit 445 Indianapolis, IN	2.0	2.5	1650	$2,400	$1.45	45d	1	1.10mi
441 N Highland Ave Indianapolis, IN	2.0	2.0	1650	$2,400	$1.45	45d	1	1.10mi
1529 N Alabama St Indianapolis, IN	2.0	3.5	2673	$3,750	$1.40	45d	1	1.11mi
1529 Sturm Ave Indianapolis, IN	3.0	2.0	1806	$1,515	$0.84	25d	1	1.12mi
1531 Sturm Ave Indianapolis, IN	3.0	2.0	1806	$1,515	$0.84	25d	1	1.12mi
2136 Central Ave Indianapolis, IN	3.0	1.0–2.0	1325	$3,499	$2.64	0d	32	1.15mi
849 N Oakland Ave Indianapolis, IN	4.0	3.0	1638	$2,350	$1.43	13d	1	1.18mi
800 N Park Ave Indianapolis, IN	2.0	2.0	2101	$2,000	$0.95	23d	1	1.19mi
706 Massachusetts Ave Indianapolis, IN	2.0	2.5	1908	$2,700	$1.42	13d	1	1.21mi
519 Fulton St Indianapolis, IN	3.0	2.5	1830	$6,000	$3.28	45d	1	1.21mi
322 N Summit St Unit 4 Indianapolis, IN	3.0	3.5	2546	$3,100	$1.22	9d	1	1.24mi
1223 E New York St Indianapolis, IN	3.0	3.0	2154	$2,300	$1.07	5d	1	1.26mi
1661 N Talbott St Indianapolis, IN	3.0	1.5	2960	$1,179	$0.40	12d	1	1.27mi
303 N State Ave Indianapolis, IN	3.0	1.0	1700	$1,275	$0.75	25d	1	1.27mi
1827 N Talbott St Indianapolis, IN	3.0	2.0	2632	$2,100	$0.80	4d	1	1.27mi
2822 E Michigan St Indianapolis, IN	3.0	2.0	1918	$1,999	$1.04	23d	1	1.28mi
515 N Oxford St Indianapolis, IN	2.0	1.5	1728	$1,050	$0.61	4d	1	1.28mi
409 N Temple Ave Indianapolis, IN	3.0	2.0	2106	$1,650	$0.78	45d	1	1.28mi
420 Eastern Ave Indianapolis, IN	3.0	1.0	1900	$1,325	$0.70	45d	1	1.29mi
2318 N New Jersey St Unit 1364144P Indianapolis, IN	3.0	2.0	1593	$3,330	$2.09	14d	1	1.30mi
931 N Lasalle St Indianapolis, IN	4.0	2.5	2544	$2,300	$0.90	45d	1	1.30mi
909 N Lasalle St Indianapolis, IN	3.0	2.0	1717	$1,600	$0.93	46d	1	1.32mi

Listing history 21 events

1. 2026-06-21
   days on market $265,000 Active 110 DOM
2. 2026-06-18
   days on market $265,000 Active 107 DOM
3. 2026-06-17
   days on market $265,000 Active 106 DOM
4. 2026-06-16
   days on market $265,000 Active 105 DOM
5. 2026-06-15
   days on market $265,000 Active 104 DOM
6. 2026-06-13
   days on market $265,000 Active 102 DOM
7. 2026-06-13
   days on market $265,000 Active 101 DOM
8. 2026-06-09
   days on market $265,000 Active 98 DOM
9. 2026-06-08
   days on market $265,000 Active 97 DOM
10. 2026-06-07
    days on market $265,000 Active 96 DOM
11. 2026-06-03
    days on market $265,000 Active 92 DOM
12. 2026-06-02
    days on market $265,000 Active 91 DOM
13. 2026-06-01
    days on market $265,000 Active 90 DOM
14. 2026-05-31
    days on market $265,000 Active 89 DOM
15. 2026-04-18
    status Active 460-char remark

    Show marketing remark (460 chars)

    This charming two-story home, built in the 1900s, offers five bedrooms and two full bathrooms. The kitchen flows nicely into the dining and living areas, creating an open and welcoming space for everyday living and gatherings. Out back, there is a great area for kids to play or for enjoying time outdoors. This home has a warm, comfortable feel that truly stands out the moment you walk in-there's just something special about it that makes it feel like home.

16. 2026-04-10
    status Active 460-char remark

    Show marketing remark (460 chars)

    This charming two-story home, built in the 1900s, offers five bedrooms and two full bathrooms. The kitchen flows nicely into the dining and living areas, creating an open and welcoming space for everyday living and gatherings. Out back, there is a great area for kids to play or for enjoying time outdoors. This home has a warm, comfortable feel that truly stands out the moment you walk in-there's just something special about it that makes it feel like home.

17. 2026-02-25
    price $279,900 460-char remark

    Show marketing remark (460 chars)

    This charming two-story home, built in the 1900s, offers five bedrooms and two full bathrooms. The kitchen flows nicely into the dining and living areas, creating an open and welcoming space for everyday living and gatherings. Out back, there is a great area for kids to play or for enjoying time outdoors. This home has a warm, comfortable feel that truly stands out the moment you walk in-there's just something special about it that makes it feel like home.

18. 2026-01-30
    listed $299,900 Active 460-char remark

    Show marketing remark (460 chars)

    This charming two-story home, built in the 1900s, offers five bedrooms and two full bathrooms. The kitchen flows nicely into the dining and living areas, creating an open and welcoming space for everyday living and gatherings. Out back, there is a great area for kids to play or for enjoying time outdoors. This home has a warm, comfortable feel that truly stands out the moment you walk in-there's just something special about it that makes it feel like home.

19. 2013-12-05
    historical 126-char remark

    Show marketing remark (126 chars)

    2364 sq. ft., 5-bedroom, 1.5-bath, 1.5-story home built in 1900. To be SOLD AS IS. Info deemed accurate, but not guaranteed.

20. 2013-12-03
    soldstatus $7,500 126-char remark

    Show marketing remark (126 chars)

    2364 sq. ft., 5-bedroom, 1.5-bath, 1.5-story home built in 1900. To be SOLD AS IS. Info deemed accurate, but not guaranteed.

21. 2013-07-12
    listed $9,900 126-char remark

    Show marketing remark (126 chars)

    2364 sq. ft., 5-bedroom, 1.5-bath, 1.5-story home built in 1900. To be SOLD AS IS. Info deemed accurate, but not guaranteed.

ⓘ 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: $1,138 · $95/mo
• Projected year-2 tax: $1,695 · $141/mo
• Expected delta: +$557/yr (+$46/mo · 49.0%)

ⓘ 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 4/10 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: $24,042
• − Mortgage interest: −$14,844
• − Property taxes: −$1,138
• − Insurance: −$1,325
• − Repairs & maintenance: −$1,923
• − Management: −$1,923
• − Depreciation: −$7,709
• Taxable loss: −$4,820
• Est. tax savings @ 24.0%: +$1,157
• After-tax cash flow: $1,011/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): 29,360
• Household income: $38,063
• Rent vs Own: 47.2% rent · 52.8% own
• Severe rent burden: 2340.0

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 Black (68%)
• Race & ethnicity: Black 68% White 18% Hispanic / Latino 9% Two or more races 6%
• Hispanic origin (detail): Mexican 6%
• Common ancestry: Romanian 1%
• Foreign-born: 5% · Canada, Philippines
• Languages at home: 92% English-only · Spanish 7%

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: ▼ -81.57%
• Current HPI: 395.7071
• Rent YoY: ▲ 0.81%
• 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

+2727.3% since first listed

7 events — show timeline

• 2026-04-18 Relisted — MIBOR as Distributed by MLS Grid
• 2026-04-10 Relisted — MIBOR as Distributed by MLS Grid
• 2026-02-25 Price Changed $279,900 MIBOR as Distributed by MLS Grid
• 2026-01-30 Listed $299,900 MIBOR as Distributed by MLS Grid
• 2013-12-05 Listing Removed — MIBOR as Distributed by MLS Grid
• 2013-12-03 Sold (MLS) $7,500 MIBOR as Distributed by MLS Grid
• 2013-07-12 Listed $9,900 MIBOR as Distributed by MLS Grid

Property tax history

+9.4%/yr

Latest (2025): $1,138 · +22.1% YoY. Source: county tax records.