2616 Mingo Ln · Indianapolis city (balance), IN 46217

$150,000

3 bd · 1.5 ba · 1,992 sqft · SingleFamily public records

Built 2003 4,617 sqft lot Est $287k · 48% under $100/mo HOA · 5% of rent

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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 +26.9/30.0
• ARV discount +15.0/15.0
• DSCR +9.3/10.0
• 1% rule +8.0/10.0
• Schools +3.5/10.0
• Rent growth +3.4/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

THERE'S ROOM FOR THE WHOLE FAMILY IN THIS SPACIOUS TWO STORY HOME. LARGE LIVING RM W/CERAMIC FIREPLACE & 2 SPOTLIGHTS, FR, 1ST FLR 1/2 BATH, LNDRY/UTILITY OFF KITCHEN, LOFT AREA W/WIC(CLD BE 4TH BR). ADDTNL WIC-BR 3. EXTRAS INCLDE 9' CLGS FIRST FLR, 2 CLG FAN R/IS, SLIDING DOOR OFF KTCHN. UPGRDE CRPT PAD, MBR W/GRDN TUB/SEP SHWR & WIC. UPGRDE KTCHN CBNTS, WNDW GRIDS ENTIRE HOME. CVRD FRNT PRCH, 2 CAR ATTCHD GARAGE W/GDO R/I & 2 R EMOTES.

Key facts

• 4,617 sq ft lot
• 2 garage spots
• Built 2003

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $150k.

Deal economics

• At list price, monthly cash flow is $416 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $150k).
• Cap rate 9.6% 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.
• Perry Township Schools (urban): math 36% / reading 45% proficiency, ranked #138 of 301 in IN (top 46%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Glenns Valley Elementary School (math 53% / reading 41%, grade D-, #325 of 994 statewide, top 36%, 726 students, 70% FRL); Perry Meridian High School (math 34% / reading 64%, grade D, #136 of 369 statewide, top 37%, 2,350 students, 58% FRL).
• Market conditions: Rents rising (+3.5%/yr); 210 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals leasing fast (median 4d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 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 $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.
• At projected returns (-3.0% appreciation + 3.5% rent growth), your $42k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• Only 0 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 23y 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 $127k; 18% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Recommended offer $150,000

Questions for the listing agent

1. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
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: 1.30% ✓
• Cap rate: 9.62%
• Cash-on-cash: 11.89%
• DSCR: 1.53
• GRM: 6.4

CMA / ARV

• ARV (on-the-fly): $286,848
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2616 Mingo Ln	0.00mi	3/2.5	1,992 (0%)	0mo	$150,000	$75	96
2603 Santaro Ct	0.04mi	4/2.5 (+1)	2,027 (+2%)	2mo	$298,000	$147	84
7111 Allegan Dr	0.37mi	3/2.5	1,978 (-1%)	4mo	$285,000	$144	75
2501 Black Antler Ct	0.57mi	3/2.5	1,996 (+0%)	5mo	$210,000	$105	65
7305 Wellwood Dr	0.18mi	4/2.5 (+1)	1,766 (-11%)	4mo	$255,000	$144	60
7033 Harness Lakes Dr	0.25mi	3/2.5	1,737 (-13%)	4mo	$258,000	$149	59
2911 Kaskaskia Way	0.64mi	3/2.0	1,896 (-5%)	4mo	$323,500	$171	57
2531 Redland Ln	0.52mi	3/2.5	1,824 (-8%)	2mo	$239,900	$132	56
2906 Shadow Lake Dr	0.40mi	4/2.5 (+1)	1,824 (-8%)	6mo	$295,000	$162	53
7315 Pipestone Dr	0.65mi	3/2.5	2,180 (+9%)	2mo	$300,000	$138	48
7015 Blankenship Ave	0.67mi	3/2.5	1,782 (-10%)	1mo	$255,000	$143	46
7884 Sergi Canyon Dr	0.74mi	3/2.5	1,698 (-15%)	3mo	$180,100	$106	34

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 · 3.46% rent growth · sell at horizon

5-year hold

• IRR: 2.0%
• Equity multiple: 1.08×
• Total profit: $3,180
• Equity at exit: $22,365

10-year hold

• IRR: 12.1%
• Equity multiple: 1.98×
• Total profit: $40,984
• Equity at exit: $12,969

Cash invested: $42,000 (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 46217

• Rents YoY: 3.5%
• Active inventory: 210
• Price-to-rent: 6.4×

Monthly cashflow live

• Estimated rent: $1,951 high
• Mortgage (P&I): −$787
• Tax from tax record: −$176 /mo · $2,113/yr
• Insurance: −$62
• HOA: −$100
• Vacancy / Maint / Mgmt: −$410
• Net cashflow: $416

Break-even live

Break-even rent $1,424

Max offer price $150,000

Occupancy floor 74%

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: $37,500
• Closing costs: $4,500
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
7150 Parklake Pl Indianapolis, IN	3.0	2.0	1288	$1,895	$1.47	3d	1	0.11mi
2808 Dawnlake Dr Indianapolis, IN	3.0	2.5	1481	$1,750	$1.18	3d	1	0.20mi
7247 Vista Cir Indianapolis, IN	1.0–3.0	1.0–2.0	1086	$2,111	$1.94	2d	25	0.35mi
6744 Everbloom Ln Indianapolis, IN	3.0	2.5	1568	$1,931	$1.23	24d	1	0.39mi
2729 Redland Ln Indianapolis, IN	3.0	2.5	1757	$1,829	$1.04	3d	1	0.57mi
6666 Black Antler Dr Indianapolis, IN	3.0	2.5	1998	$1,900	$0.95	15d	1	0.62mi
3753 Boundary Bay Dr Indianapolis, IN	4.0	3.5	2446	$2,526	$1.03	4d	1	1.10mi

HOA detail

• Monthly dues: $100 · $1,200/yr

Listing history 4 events

1. 2026-04-29
   listed $150,000
2. 2026-04-29
   historical
3. 2003-07-10
   soldstatus $126,690 458-char remark

   Show marketing remark (458 chars)

   THERE'S ROOM FOR THE WHOLE FAMILY IN THIS SPACIOUS TWO STORY HOME. LARGE LIVING RM W/CERAMIC FIREPLACE & 2 SPOTLIGHTS, FR, 1ST FLR 1/2 BATH, LNDRY/UTILITY OFF KITCHEN, LOFT AREA W/WIC(CLD BE 4TH BR). ADDTNL WIC-BR 3. EXTRAS INCLDE 9' CLGS FIRST FLR, 2 CLG FAN R/IS, SLIDING DOOR OFF KTCHN. UPGRDE CRPT PAD, MBR W/GRDN TUB/SEP SHWR & WIC. UPGRDE KTCHN CBNTS, WNDW GRIDS ENTIRE HOME. CVRD FRNT PRCH, 2 CAR ATTCHD GARAGE W/GDO R/I & 2 R EMOTES.

4. 2003-03-18
   listed $126,900 458-char remark

   Show marketing remark (458 chars)

   THERE'S ROOM FOR THE WHOLE FAMILY IN THIS SPACIOUS TWO STORY HOME. LARGE LIVING RM W/CERAMIC FIREPLACE & 2 SPOTLIGHTS, FR, 1ST FLR 1/2 BATH, LNDRY/UTILITY OFF KITCHEN, LOFT AREA W/WIC(CLD BE 4TH BR). ADDTNL WIC-BR 3. EXTRAS INCLDE 9' CLGS FIRST FLR, 2 CLG FAN R/IS, SLIDING DOOR OFF KTCHN. UPGRDE CRPT PAD, MBR W/GRDN TUB/SEP SHWR & WIC. UPGRDE KTCHN CBNTS, WNDW GRIDS ENTIRE HOME. CVRD FRNT PRCH, 2 CAR ATTCHD GARAGE W/GDO R/I & 2 R EMOTES.

ⓘ 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: $2,113 · $176/mo
• Projected year-2 tax: $2,113 · $176/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 (shaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 4/10 Moderate 7 d/yr ≥101°F today · 19 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: $23,410
• − Mortgage interest: −$8,402
• − Property taxes: −$2,113
• − Insurance: −$750
• − Repairs & maintenance: −$1,873
• − Management: −$1,873
• − HOA: −$1,200
• − Depreciation: −$4,364
• Taxable income: $2,836
• Est. tax owed @ 24.0%: −$681
• After-tax cash flow: $4,311/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: Perry Township Schools
• NCES district ID: 1808820
• Math proficiency: 36% ▼ -13.00%
• Reading proficiency: 45% ▼ -6.00%
• Median HH income: $47,170
• Composite: 34.61/100
• National rank: #5153
• State rank: #138 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): 36,917
• Household income: $92,029
• Rent vs Own: 18.5% rent · 81.5% own
• Severe rent burden: 472.0

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 0.60)
• Race & ethnicity: White 59% Asian 20% Black 10% Hispanic / Latino 8% Two or more races 6%
• Hispanic origin (detail): Mexican 6%
• Common ancestry: Lithuanian 3% Romanian 2% Iranian 1%
• Foreign-born: 17% · Philippines, Canada, China
• Languages at home: 76% English-only · Other Asian/Pacific 15% Spanish 6% Other Indo-European 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: ▼ -221.18%
• Current HPI: 223.147
• Rent YoY: ▲ 3.46%
• 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

+18.2% since first listed

4 events — show timeline

• 2026-04-29 Listed $150,000 MIBOR as Distributed by MLS Grid
• 2026-04-29 Listing Removed — MIBOR as Distributed by MLS Grid
• 2003-07-10 Sold (MLS) $126,690 MIBOR as Distributed by MLS Grid
• 2003-03-18 Listed $126,900 MIBOR as Distributed by MLS Grid

Property tax history

+5.0%/yr

Latest (2025): $2,113 · -14.0% YoY. Source: county tax records.