358 Gimber Ct · Indianapolis city (balance), IN 46225

$169,750

3 bd · 1.0 ba · 1,272 sqft · SingleFamily public records · 3 Days on market

Built 1971 6,229 sqft lot Est $190k · 10% under

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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 +20.3/30.0
• ARV discount +12.2/15.0
• DSCR +6.4/10.0
• Rent growth +5.0/5.0
• 1% rule +4.2/10.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.4/10.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to 358 Gimber CT, a charming single-family residence built in 1971, offering 1272 square feet of inviting living space. This ready-to-move-in home is designed for comfortable living and effortless entertaining. This delightful single-story home provides three well-proportioned bedrooms, offering versatile spaces for rest and personalization. A full bathroom serves the home, designed for convenience and daily routines. The property features a dedicated laundry room, simplifying household tasks. Step outside to discover a private yard, offering a tranquil retreat for outdoor enjoyment. The outdoor living experience is further enhanced by a covered deck and an additional large deck, pr

Key facts

• Covered deck
• Large deck
• Private yard

Tags

• DEDICATED LAUNDRY ROOM
• PRIVATE YARD
• COVERED DECK
• LARGE DECK

Property features AI

Finance

• Other: <1/4 acre lot (approximately 0.14 acre)

Exterior

• Parking: Gravel parking
• Utilities: Public water; Municipal sewer connected; Solid waste service
• Home design: Single-family residence; Updated/remodeled condition; One story
• Construction: Aluminum siding; Block foundation
• Exterior features: Deck; Storage shed; Full privacy fence

Interior

• Kitchen: Range hood
• Bedrooms: Three bedrooms on the main level; Bedroom 2 (13 x 12); Bedroom 3 (12 x 11)
• Bathrooms: One full bathroom (main level)
• Heating & cooling: Natural gas heating; Central air conditioning
• Interior features: Eat-in kitchen; Living room (13 x 23); Dining room (10 x 9); Additional main-level room (16 x 9.5)
• Laundry & utility: Main-level laundry room (6 x 8)

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $170k.

Deal economics

• At list price, monthly cash flow is $216 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $156k (8.3% below list).
• Recommended offer: $156k (8.3% below list) — sets the bar for 1% rule.
• Cap rate 7.8% 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 (+11.0%/yr); 129 active listings in the ZIP; 20 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).
• This rent runs 34% of the median local income ($55k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k 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 $48k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $70k; list at $170k implies a 141% gain — meaningful room to come down on a strong offer.

Recommended offer $155,615 (8.3% below list)

Questions for the listing agent

1. Built in 1971 — 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: 0.92% ✗
• Cap rate: 7.82%
• Cash-on-cash: 5.45%
• DSCR: 1.24
• GRM: 9.1

CMA / ARV

• ARV (on-the-fly): $189,528
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
346 Gimber Ct	0.01mi	3/2.0	1,272 (0%)	7mo	$196,000	$154	90
415 W Gimber St	0.06mi	4/1.5 (+1)	1,269 (-0%)	10mo	$186,000	$147	81
2828 S Illinois St	0.24mi	3/1.0	1,224 (-4%)	2mo	$182,000	$149	81
321 Gimber Ct	0.06mi	3/1.5	1,200 (-6%)	6mo	$182,500	$152	81
408 Gimber Ct	0.05mi	3/2.0	1,272 (0%)	20mo	$188,000	$148	77
110 Pennsylvania Ct	0.50mi	3/1.0	1,202 (-6%)	4mo	$115,000	$96	64
32 Bakemeyer St	0.30mi	3/1.5	1,104 (-13%)	2mo	$165,000	$149	60
44 Bakemeyer St	0.28mi	3/2.0	1,104 (-13%)	6mo	$177,500	$161	56
129 E Southern Ave	0.53mi	2/1.0 (-1)	1,442 (+13%)	3mo	$190,000	$132	46
101 Heiny Rd	0.71mi	3/1.0	1,168 (-8%)	10mo	$200,000	$171	45
239 Mason St	0.75mi	3/2.0	1,320 (+4%)	14mo	$210,000	$159	44
2520 Webb St	0.68mi	3/1.5	1,416 (+11%)	10mo	$199,000	$141	40

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: -3.0%
• Equity multiple: 0.88×
• Total profit: $-5,598
• Equity at exit: $25,310

10-year hold

• IRR: 11.1%
• Equity multiple: 2.05×
• Total profit: $49,969
• Equity at exit: $14,677

Cash invested: $47,530 (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: 9.1×

Monthly cashflow live

• Estimated rent: $1,556 high
• Mortgage (P&I): −$890
• Tax from tax record: −$52 /mo · $629/yr
• Insurance: −$71
• HOA: −$0
• Vacancy / Maint / Mgmt: −$327
• Net cashflow: $216

Break-even live

Break-even rent $1,283

Max offer price $169,750

Occupancy floor 81%

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: $42,438
• Closing costs: $5,092
• Reserves months: —
• Total cash needed: —

Rent comps 20 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
110 Pennsylvania Ct Indianapolis, IN	3.0	2.0	1202	$1,700	$1.41	4d	1	0.50mi
2314 Union St Indianapolis, IN	3.0	2.0	892	$1,295	$1.45	44d	1	0.64mi
2283 Union St Indianapolis, IN	3.0	2.0	1824	$1,820	$1.00	24d	1	0.68mi
3216 Brill Rd Indianapolis, IN	3.0	2.0	1628	$1,646	$1.01	24d	1	0.78mi
2760 S East St Indianapolis, IN	2.0–3.0	2.0	1072	$1,045	$0.97	3d	3	0.82mi
2770 S East St Apt 103 Indianapolis, IN	3.0	2.0	1190	$1,045	$0.88	15d	1	0.83mi
2770 South East St Unit 302 Indianapolis, IN	3.0	2.0	1158	$1,015	$0.88	3d	1	0.83mi
3500 Bluff Rd Indianapolis, IN	2.0	2.0	781	$1,399	$1.79	4d	5	0.89mi
1819 Union St Unit 1817 Indianapolis, IN	3.0	2.0	1020	$1,199	$1.18	44d	1	1.15mi
1756 Delaware St Indianapolis, IN	3.0	2.0	1014	$1,300	$1.28	44d	1	1.22mi
1756 S Delaware St Unit 1754 Indianapolis, IN	3.0	2.0	1014	$1,300	$1.28	15d	1	1.22mi
2109 Singleton St Indianapolis, IN	3.0	2.0	1340	$2,100	$1.57	8d	1	1.24mi
1713 S Delaware St Indianapolis, IN	2.0	2.0	1785	$1,700	$0.95	44d	1	1.29mi
224 Iowa St Indianapolis, IN	3.0	1.0	1254	$1,450	$1.16	24d	1	1.31mi
438 E Beecher St Indianapolis, IN	3.0	2.5	1500	$1,450	$0.97	24d	1	1.31mi
620 E Beecher St Indianapolis, IN	3.0	2.0	1072	$1,639	$1.53	20d	1	1.38mi
1011 E Raymond St Indianapolis, IN	2.0	2.0	1100	$1,350	$1.23	24d	1	1.43mi
1144 McDougal St Indianapolis, IN	3.0	1.0	876	$1,500	$1.71	22d	1	1.45mi
1830 Orleans St Indianapolis, IN	3.0	2.5	1586	$1,995	$1.26	44d	1	1.45mi
1833 Orleans St Unit 1 Indianapolis, IN	3.0	1.0	1260	$1,350	$1.07	44d	1	1.46mi

Listing history 4 events

1. 2026-06-18
   days on market $169,750 Active 3 DOM
2. 2026-06-17
   days on market $169,750 Active 2 DOM
3. 2026-06-15
   remarks 699-char remark
4. 2026-06-15
   listed $169,750 Active 1 DOM

ⓘ 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: $629 · $52/mo
• Projected year-2 tax: $1,036 · $86/mo
• Expected delta: +$407/yr (+$34/mo · 64.7%)

ⓘ 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 3/10 Moderate 7 d/yr ≥101°F today · 18 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: $18,674
• − Mortgage interest: −$9,509
• − Property taxes: −$629
• − Insurance: −$849
• − Repairs & maintenance: −$1,494
• − Management: −$1,494
• − Depreciation: −$4,938
• Taxable loss: −$238
• Est. tax savings @ 24.0%: +$57
• After-tax cash flow: $2,650/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

+140.8% since first listed

2 events — show timeline

• 2026-06-15 Listed $169,750 MIBOR as Distributed by MLS Grid
• 2002-01-22 Sold (Public Records) $70,490 Public Records

Property tax history

+6.5%/yr

Latest (2025): $629 · +1.6% YoY. Source: county tax records.