5518 Glencoe St · Indianapolis city (balance), IN 46226

$124,900

3 bd · 1.0 ba · 864 sqft · SingleFamily public records · 16 Days on market

Built 1956 7,100 sqft lot Est $126k · at est.

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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 +20.4/30.0
• ARV discount +7.9/15.0
• DSCR +6.5/10.0
• 1% rule +5.5/10.0
• Rent growth +4.2/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.4/10.0
• Appreciation +0.0/10.0

Listing remarks

Discover the perfect blend of mid-century character and modern convenience in this charming 1956 ranch, ideally situated in the heart of the established Devington community. This beautifully efficient three-bedroom home captures the timeless "Atomic Age" aesthetic with its sleek, low-slung profile, durable brick accents, and a classic 240-square-foot carport that adds both style and functionality. Inside, the sun-drenched floor plan offers a cozy yet airy atmosphere, while the sprawling 0.16-acre level lot provides a private outdoor sanctuary perfect for gardening, entertaining, or peaceful relaxation. Located just minutes from I-465, I-70, and Shadeland Avenue, this property is a

Key facts

• 7,100 sq ft lot
• Built 1956
• Listed 16 days

Property features AI

Finance

• Financial info: No financial details provided
• HOA & community: No indication of low-maintenance lifestyle or HOA

Exterior

• Parking: Concrete parking
• Security: No accessibility or special security features reported
• Utilities: Public water; Municipal sewer connected; Solid waste service available
• Home design: Single-family residence; One story
• Construction: Wood siding exterior; Slab foundation
• Exterior features: Lot under 1/4 acre (approx. 0.16 acre); Lot described as 'Other'

Interior

• Kitchen: Kitchen on main level (approx. 9x12); Includes refrigerator and electric oven
• Bedrooms: Three bedrooms on the main level (sizes approx. 12x11, 12x9, 12x12)
• Flooring: Luxury vinyl plank in dining room and living room; Flooring type not specified for other rooms
• Bathrooms: One full bathroom (main level)
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: Refrigerator; Electric oven; Luxury vinyl plank flooring in dining room and living room; Six total main-level rooms
• Laundry & utility: No specific laundry details provided

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $125k.

Deal economics

• At list price, monthly cash flow is $162 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $125k).
• Recommended offer: $123k (1.5% below list) — sets the bar for market timing.
• Cap rate 7.9% 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 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.
• Zoned schools: Floro Torrence School 83 (math 8% / reading 12%, grade F, #921 of 994 statewide, top 94%, 197 students, 85% FRL); Shortridge High School (math 20% / reading 51%, grade F, #263 of 369 statewide, top 72%, 1,089 students, 70% FRL) — zoned schools at 78% FRL track the district average.
• Market conditions: Rents rising fast (+6.8%/yr); 151 active listings in the ZIP; 36 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 44% 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).
• This rent runs 31% of the median local income ($50k/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 $864 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.
• At projected returns (-3.0% appreciation + 6.8% rent growth), your $35k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 16 days — a 2% lower offer ($123k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1956 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $123,026 (1.5% below list)

Questions for the listing agent

1. Built in 1956 — 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: 1.05% ✓
• Cap rate: 7.85%
• Cash-on-cash: 5.57%
• DSCR: 1.25
• GRM: 7.9

CMA / ARV

• ARV (on-the-fly): $126,144
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
5602 Glencoe St	0.07mi	3/1.0	864 (0%)	22mo	$134,000	$155	78
4101 N Arlington Ave	0.48mi	3/1.0	944 (+9%)	6mo	$145,000	$154	57
3614 N Whittier Pl	0.60mi	3/2.0	912 (+6%)	3mo	$171,999	$189	56
3630 N Irvington Ave	0.58mi	3/1.0	912 (+6%)	18mo	$132,000	$145	48
3536 N Hawthorne Ln	0.71mi	3/2.0	925 (+7%)	6mo	$149,900	$162	46
3938 N Grand Ave	0.49mi	3/1.0	993 (+15%)	9mo	$135,000	$136	45
4002 N Catherwood Ave	0.57mi	4/1.0 (+1)	984 (+14%)	2mo	$125,000	$127	44
3940 N Webster Ave	0.53mi	3/1.0	962 (+11%)	15mo	$142,500	$148	44
3716 N Butler Ave	0.59mi	3/2.0	912 (+6%)	18mo	$133,000	$146	44
4071 Sawyer St	0.63mi	3/1.0	964 (+12%)	14mo	$36,000	$37	40
4072 N Sheridan Ave	0.71mi	3/1.0	962 (+11%)	19mo	$126,900	$132	32
3605 N Butler Ave	0.68mi	3/1.0	990 (+15%)	19mo	$79,500	$80	28

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 · 6.76% rent growth · sell at horizon

5-year hold

• IRR: -3.5%
• Equity multiple: 0.86×
• Total profit: $-4,727
• Equity at exit: $18,623

10-year hold

• IRR: 10.1%
• Equity multiple: 1.92×
• Total profit: $32,149
• Equity at exit: $10,799

Cash invested: $34,972 (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 46226

• Rents YoY: 6.8%
• Active inventory: 151
• Price-to-rent: 7.9×

Monthly cashflow live

• Estimated rent: $1,313 high
• Mortgage (P&I): −$655
• Tax from tax record: −$168 /mo · $2,014/yr
• Insurance: −$52
• HOA: −$0
• Vacancy / Maint / Mgmt: −$276
• Net cashflow: $162

Break-even live

Break-even rent $1,107

Max offer price $124,900

Occupancy floor 83%

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: $31,225
• Closing costs: $3,747
• Reserves months: —
• Total cash needed: —

Rent comps 36 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5602 Glencoe St Indianapolis, IN	3.0	1.0	1000	$1,749	$1.75	17d	1	0.09mi
3836 Priscilla Ave Indianapolis, IN	3.0	1.5	1040	$1,275	$1.23	2d	1	0.40mi
3718 N Audubon Rd Indianapolis, IN	3.0	1.0	875	$1,300	$1.49	23d	1	0.48mi
3815 N Grand Ave Unit 3815 Indianapolis, IN	2.0	1.0	965	$1,250	$1.30	4d	1	0.51mi
3636 N Whittier Pl Indianapolis, IN	3.0	1.0	912	$995	$1.09	7d	1	0.57mi
3639 N Emerson Ave Indianapolis, IN	4.0	1.0	1000	$1,450	$1.45	21d	1	0.72mi
3516 N Hawthorne Ln Indianapolis, IN	3.0	1.0	925	$1,225	$1.32	4d	1	0.75mi
4404 Park Forest Ct Indianapolis, IN	2.0	1.0	928	$1,180	$1.27	21d	2	0.76mi
4430 Park Forest Ct Indianapolis, IN	2.0	1.0	928	$1,180	$1.27	43d	1	0.77mi
4411 Park Forest Ct Indianapolis, IN	2.0	1.0	928	$1,180	$1.27	43d	1	0.77mi
4438 Park Forest Ct Indianapolis, IN	2.0	1.0	928	$1,180	$1.27	43d	1	0.78mi
4555 N Arlington Ave Indianapolis, IN	1.0–3.0	1.0–1.5	880	$1,379	$1.57	3d	30	0.80mi
4437 Park Forest Ct Indianapolis, IN	2.0	1.0	928	$1,180	$1.27	43d	1	0.80mi
4445 Park Forest Ct Indianapolis, IN	2.0	1.0	928	$1,180	$1.27	3d	1	0.81mi
4504 Park Forest Ct Indianapolis, IN	2.0	1.0	928	$1,180	$1.27	3d	1	0.82mi
4521 Park Forest Ct Indianapolis, IN	2.0	1.0	700	$1,180	$1.69	4d	1	0.83mi
4537 Park Forest Ct Indianapolis, IN	2.0	1.0	928	$1,180	$1.27	43d	1	0.88mi
4545 Park Forest Ct Indianapolis, IN	2.0	1.0	928	$1,180	$1.27	43d	1	0.89mi
4405 Park Forest Ct Indianapolis, IN	2.0	1.0	928	$1,180	$1.27	23d	1	0.91mi
3319 N Hawthorne Ln Indianapolis, IN	3.0	1.0	1084	$1,100	$1.01	23d	1	1.03mi
3301 Mardenna Ave Indianapolis, IN	3.0	1.0	925	$1,200	$1.30	43d	1	1.06mi
3316 N Emerson Ave Indianapolis, IN	3.0	1.0	912	$1,100	$1.21	23d	1	1.10mi
6005 Dickson Rd Unit 4 Indianapolis, IN	2.0	1.0	873	$725	$0.83	43d	1	1.13mi
6015 Dickson Rd #1 Indianapolis, IN	2.0	1.0	825	$950	$1.15	43d	1	1.14mi
6049 Dickson Rd Apt 4 Indianapolis, IN	2.0	1.0	750	$950	$1.27	43d	1	1.17mi
6048 Dickson Rd #3 Indianapolis, IN	2.0	1.0	725	$900	$1.24	43d	1	1.20mi
6108 Dickson Rd Unit 3 Indianapolis, IN	2.0	1.0	750	$900	$1.20	43d	1	1.22mi
6118 Dickson Rd Apt 3 Indianapolis, IN	2.0	1.0	750	$950	$1.27	43d	1	1.23mi
6051 Laurel Hall Dr Apt 4 Indianapolis, IN	2.0	1.0	750	$950	$1.27	43d	1	1.24mi
6028 Laurel Hall Dr #3 Indianapolis, IN	2.0	1.0	875	$950	$1.09	43d	1	1.25mi
4307 N Edmondson Ave Indianapolis, IN	3.0	1.0	900	$1,299	$1.44	2d	1	1.26mi
6111 Laurel Hall Dr #1 Indianapolis, IN	2.0	1.0	725	$950	$1.31	23d	1	1.26mi
6111 Laurel Hall Dr #3 Indianapolis, IN	2.0	1.0	725	$950	$1.31	43d	1	1.26mi
3332 Wallace Ave Indianapolis, IN	3.0	1.0	936	$1,600	$1.71	23d	1	1.27mi
3315 N Euclid Ave Indianapolis, IN	2.0	1.0	780	$1,300	$1.67	14d	1	1.42mi
3900 N Shadeland Ave Indianapolis, IN	1.0–2.0	1.0	1070	$1,075	$1.00	3d	6	1.44mi

Listing history 2 events

1. 2026-04-26
   status Pending
2. 2026-04-10
   listed $124,900 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: $2,014 · $168/mo
• Projected year-2 tax: $2,014 · $168/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 ≥101°F today · 18 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% 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: $15,753
• − Mortgage interest: −$6,996
• − Property taxes: −$2,014
• − Insurance: −$624
• − Repairs & maintenance: −$1,260
• − Management: −$1,260
• − Depreciation: −$3,633
• Taxable loss: −$36
• Est. tax savings @ 24.0%: +$9
• After-tax cash flow: $1,955/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): 47,099
• Household income: $50,325
• Rent vs Own: 53.8% rent · 46.2% own
• Severe rent burden: 2742.0

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 53% White 25% Hispanic / Latino 17% Two or more races 9% Asian 2%
• Hispanic origin (detail): Mexican 11%
• Common ancestry: Lithuanian 1% Italian 1% Romanian 1%
• Foreign-born: 11% · Canada
• Languages at home: 86% English-only · Spanish 10% French/Haitian/Cajun 1% Other Asian/Pacific 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: ▼ -218.85%
• Current HPI: 239.43
• Rent YoY: ▲ 6.76%
• 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

• 2026-04-26 Pending — MIBOR as Distributed by MLS Grid
• 2026-04-10 Listed $124,900 MIBOR as Distributed by MLS Grid

Property tax history

+17.3%/yr

Latest (2025): $2,014 · +5.2% YoY. Source: county tax records.