10025 Catalina Dr · Indianapolis city (balance), IN 46235

$149,900

4 bd · 1.5 ba · 1,296 sqft · SingleFamily public records · 25 Days on market

Built 1967 0.26 ac lot $116/sqft · 9% below area Est $165k · 9% 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 +23.4/30.0
• ARV discount +11.7/15.0
• DSCR +7.5/10.0
• 1% rule +6.5/10.0
• Rent growth +3.1/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.4/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Nice 4 bedroom 1& 1/2 bath brick home. New paint and carpet, newer furnace and hot water heater. Newer windows.

Key facts

• In-ground pool
• Concrete patio
• Storage shed

Tags

• FULLY FENCED BACKYARD
• IN-GROUND POOL
• MATURE TREES
• CONCRETE PATIO
• STORAGE SHED
• QUIET RESIDENTIAL STREET

Property features AI

Exterior

• Parking: Attached garage (1 car)
• Security: Smoke detector(s)
• Utilities: Public water; Municipal sewer connected; Solid waste service available
• Home design: Single-family residence; One story
• Construction: Brick construction; Slab foundation
• Exterior features: Mature trees on the lot; Quarter to half acre lot (0.26 acre)

Interior

• Kitchen: Refrigerator; Dishwasher; Range hood
• Bedrooms: 4 bedrooms on the main level (sizes: 11x11, 12x11, 11x12, plus one 12x14 — other bedroom dimensions listed)
• Bathrooms: 1 full bath on main level; 1 half bath on main level
• Heating & cooling: Forced air heating (natural gas); Central air conditioning
• Interior features: Water heater; Range hood; Refrigerator; Dishwasher; Smoke alarm; Has view; 6 total main-level rooms
• Laundry & utility: Dedicated laundry room

What this means for you Summary

Snapshot

• This is a 4-bed/1.5-bath single-family listed at $150k.

Deal economics

• At list price, monthly cash flow is $151 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $150k).
• Recommended offer: $148k (1.5% below list) — sets the bar for market timing.
• Cap rate 8.5% 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 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 (+2.6%/yr); 54 active listings in the ZIP; 26 comparable units currently listed for rent nearby; rentals at typical pace (median 16d 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 35% of the median local income ($59k/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 $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.

Negotiation context

• It's been on market 25 days — a 2% lower offer ($148k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 19y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $46k; list at $150k implies a 229% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $125/mo.
• Climate carrying-cost: in FEMA flood zone A (mandatory federal flood insurance) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $147,651 (1.5% below list)

Questions for the listing agent

1. Built in 1967 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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: 1.15% ✓
• Cap rate: 8.51%
• Cash-on-cash: 7.91%
• DSCR: 1.35
• GRM: 7.2

CMA / ARV

• ARV (median comp): $165,135
• List price: $149,900
• Delta: -9.23%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
9819 Bishop Ct	0.33mi	4/2.0	1,225 (-6%)	1mo	$136,500	$111	73
10113 Catalina Dr	0.07mi	3/1.5 (-1)	1,176 (-9%)	6mo	$151,500	$129	71
3814 Strathmore Dr	0.32mi	4/1.0	1,225 (-6%)	9mo	$185,000	$151	66
4105 Downes Dr	0.43mi	3/1.5 (-1)	1,296 (0%)	10mo	$105,000	$81	66
4106 Candy Apple Blvd	0.40mi	4/2.0	1,380 (+6%)	6mo	$165,000	$120	64
3601 Luewan Dr	0.57mi	3/2.0 (-1)	1,284 (-1%)	7mo	$110,000	$86	59
3717 Lacebark Dr	0.66mi	3/1.5 (-1)	1,320 (+2%)	4mo	$205,000	$155	58
10230 Meadowlark Dr	0.62mi	3/1.5 (-1)	1,236 (-5%)	2mo	$95,000	$77	57
4149 Mellis Dr	0.73mi	3/1.0 (-1)	1,236 (-5%)	0mo	$161,000	$130	51
10013 Ridgefield Dr	0.72mi	3/1.0 (-1)	1,225 (-6%)	4mo	$145,000	$118	47
3857 Arquette Dr	0.37mi	3/1.0 (-1)	1,107 (-15%)	10mo	$125,000	$113	43
10662 Lostpine Ln	0.65mi	3/2.0 (-1)	1,154 (-11%)	10mo	$152,500	$132	36

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 · 2.56% rent growth · sell at horizon

5-year hold

• IRR: -10.0%
• Equity multiple: 0.64×
• Total profit: $-15,275
• Equity at exit: $22,351

10-year hold

• IRR: -1.2%
• Equity multiple: 0.92×
• Total profit: $-3,435
• Equity at exit: $12,961

Cash invested: $41,972 (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 46235

• Home prices YoY: -4.3%
• Rents YoY: 2.6%
• Active inventory: 54
• Price-to-rent: 7.2×

Monthly cashflow live

• Estimated rent: $1,730 high
• Mortgage (P&I): −$786
• Tax from tax record: −$241 /mo · $2,896/yr
• Insurance: −$62
• Flood insurance flood zone: −$125 /mo · $1,502/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$363
• Net cashflow: $151

Break-even live

Break-even rent $1,538

Max offer price $149,900

Occupancy floor 86%

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: $37,475
• Closing costs: $4,497
• Reserves months: —
• Total cash needed: —

Rent comps 26 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
9962 Catalina Dr Indianapolis, IN	3.0	1.0	1236	$1,600	$1.29	4d	1	0.15mi
9949 Ellis Dr Indianapolis, IN	4.0	2.0	1421	$1,580	$1.11	3d	1	0.25mi
3962 Strathmore Dr Indianapolis, IN	3.0	1.0	925	$1,250	$1.35	23d	1	0.32mi
3645 Wingate Ct Indianapolis, IN	3.0	1.0–2.0	774	$1,500	$1.94	23d	6	0.48mi
9513 Baker Ct Indianapolis, IN	4.0	2.0	1702	$1,825	$1.07	7d	1	0.53mi
9438 Conried Dr Indianapolis, IN	3.0	1.0	1094	$1,445	$1.32	4d	1	0.63mi
9634 Meadowlark Dr Indianapolis, IN	3.0	1.5	1546	$1,550	$1.00	16d	1	0.68mi
3747 Ireland Dr Indianapolis, IN	4.0	1.5	1400	$1,700	$1.21	23d	1	0.71mi
3722 Ireland Dr Indianapolis, IN	3.0	2.0	1682	$1,700	$1.01	43d	1	0.75mi
3519 Jerome Ct Indianapolis, IN	4.0	1.0	1107	$1,995	$1.80	23d	1	0.81mi
3661 Cedar Pine Pl Indianapolis, IN	3.0	3.0	1668	$1,701	$1.02	7d	1	0.82mi
3525 Luewan Ct Indianapolis, IN	4.0	1.0	1107	$1,750	$1.58	23d	1	0.86mi
3665 Coneflower Way Indianapolis, IN	3.0	2.0	1030	$1,375	$1.33	43d	1	0.86mi
3644 Celtic Dr Indianapolis, IN	4.0	1.5	1637	$1,500	$0.92	14d	1	0.87mi
9226 E 36th Pl Indianapolis, IN	3.0	1.0	1073	$1,250	$1.16	7d	1	0.90mi
8914 Elmonte Dr Indianapolis, IN	3.0	1.5	1500	$1,600	$1.07	23d	1	1.12mi
8862 Bel Air Ct Indianapolis, IN	3.0	1.0	1073	$1,264	$1.18	17d	1	1.16mi
3829 Biscayne Rd Indianapolis, IN	4.0	1.5	1188	$1,320	$1.11	14d	1	1.25mi
3938 Biscayne Rd Indianapolis, IN	3.0	1.0	1000	$1,895	$1.90	3d	1	1.26mi
3823 Biscayne Rd Indianapolis, IN	4.0	1.5	1188	$1,320	$1.11	14d	1	1.26mi
3631 Decamp Dr Indianapolis, IN	3.0	1.0	1000	$1,335	$1.33	23d	1	1.26mi
3821 Biscayne Rd Indianapolis, IN	4.0	1.5	1188	$1,325	$1.12	14d	1	1.26mi
3815 Biscayne Rd Indianapolis, IN	3.0	1.5	1188	$1,220	$1.03	14d	1	1.26mi
8738 Montery Rd Indianapolis, IN	3.0	1.0	1421	$1,396	$0.98	7d	1	1.27mi
8724 Montery Rd Indianapolis, IN	3.0	1.0	925	$1,500	$1.62	43d	1	1.29mi
3540 Dubarry Ct Indianapolis, IN	3.0	2.0	1297	$1,400	$1.08	23d	1	1.33mi

Listing history 14 events

1. 2026-06-18
   days on market $149,900 Active 25 DOM
2. 2026-06-17
   status $149,900 Active 24 DOM
3. 2026-06-02
   status $149,900 Pending 24 DOM
4. 2026-06-01
   days on market $149,900 Active 24 DOM
5. 2026-05-31
   days on market $149,900 Active 23 DOM
6. 2026-05-08
   listed $149,900 Active 614-char remark
7. 2017-03-03
   soldstatus $45,500 Sold 115-char remark

   Show marketing remark (115 chars)

   Nice 4 bedroom 1& 1/2 bath brick home. New paint and carpet, newer furnace and hot water heater. Newer windows.

8. 2017-02-14
   status Pending 115-char remark

   Show marketing remark (115 chars)

   Nice 4 bedroom 1& 1/2 bath brick home. New paint and carpet, newer furnace and hot water heater. Newer windows.

9. 2017-01-30
   listed $49,950 Active 115-char remark

   Show marketing remark (115 chars)

   Nice 4 bedroom 1& 1/2 bath brick home. New paint and carpet, newer furnace and hot water heater. Newer windows.

10. 2009-05-01
    historical

    Show marketing remark (286 chars)

    Imagine a home of your own. This three bedroom 1.5 bath home could be yours before winter. This all brick home has new carpet, new paint, vinyl, new water heater and also has vinyl replacement windows. The home has an i n ground pool and fully fenced backyard. This is a bank owned home

11. 2009-04-14
    soldstatus $11,500

    Show marketing remark (286 chars)

    Imagine a home of your own. This three bedroom 1.5 bath home could be yours before winter. This all brick home has new carpet, new paint, vinyl, new water heater and also has vinyl replacement windows. The home has an i n ground pool and fully fenced backyard. This is a bank owned home

12. 2008-09-29
    historical

    Show marketing remark (286 chars)

    Imagine a home of your own. This three bedroom 1.5 bath home could be yours before winter. This all brick home has new carpet, new paint, vinyl, new water heater and also has vinyl replacement windows. The home has an i n ground pool and fully fenced backyard. This is a bank owned home

13. 2008-09-29
    listed $28,500

    Show marketing remark (286 chars)

    Imagine a home of your own. This three bedroom 1.5 bath home could be yours before winter. This all brick home has new carpet, new paint, vinyl, new water heater and also has vinyl replacement windows. The home has an i n ground pool and fully fenced backyard. This is a bank owned home

14. 2007-10-10
    listed $50,000

ⓘ 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: $2,896 · $241/mo
• Projected year-2 tax: $2,896 · $241/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 A · 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 0% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $20,756
• − Mortgage interest: −$8,397
• − Property taxes: −$2,896
• − Insurance: −$2,252
• − Repairs & maintenance: −$1,660
• − Management: −$1,660
• − Depreciation: −$4,361
• Taxable loss: −$470
• Est. tax savings @ 24.0%: +$113
• After-tax cash flow: $1,929/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): 36,317
• Household income: $58,951
• Rent vs Own: 46.5% rent · 53.5% own
• Severe rent burden: 1901.0

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 0.62)
• Race & ethnicity: Black 57% White 18% Hispanic / Latino 17% Two or more races 11%
• Hispanic origin (detail): Mexican 11% Puerto Rican 2%
• Common ancestry: Hispanic 3% Slovak 1% Romanian 1%
• Foreign-born: 11% · Canada
• Languages at home: 80% English-only · Spanish 15% French/Haitian/Cajun 4%

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: ▼ -12.41%
• Current HPI: 275.1505
• Rent YoY: ▲ 2.56%
• 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

+199.8% since first listed

11 events — show timeline

• 2026-06-17 Relisted — MIBOR as Distributed by MLS Grid
• 2026-06-02 Pending — MIBOR as Distributed by MLS Grid
• 2026-05-08 Listed $149,900 MIBOR as Distributed by MLS Grid
• 2017-03-03 Sold (MLS) $45,500 MIBOR as Distributed by MLS Grid
• 2017-02-14 Pending — MIBOR as Distributed by MLS Grid
• 2017-01-30 Listed $49,950 MIBOR as Distributed by MLS Grid
• 2009-05-01 Listing Removed — MIBOR as Distributed by MLS Grid
• 2009-04-14 Sold (MLS) $11,500 MIBOR as Distributed by MLS Grid
• 2008-09-29 Listed $28,500 MIBOR as Distributed by MLS Grid
• 2008-09-29 Listing Removed — MIBOR as Distributed by MLS Grid
• 2007-10-10 Listed $50,000 MIBOR as Distributed by MLS Grid

Property tax history

+17.0%/yr

Latest (2025): $2,896 · +16.8% YoY. Source: county tax records.