2920 Schofield Ave · Indianapolis city (balance), IN 46218

$84,555

2 bd · 1.0 ba · 1,516 sqft · SingleFamily public records · 18 Days on market

Built 1922 10,578 sqft lot Est $118k · 28% under

---

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

Listing remarks

LOW PRICE & high potential! This large home features 3-bedroom, 1 bath, 2 story home with an oversized 2 car attached garage & is situated in a rapidly growing East side community! With new vinyl siding & soffits recently installed, this home is bursting with equity!

Key facts

• New vinyl siding
• 0.24 acre lot
• 2 garage spots

Tags

• NEW VINYL SIDING
• OVERSIZED 2 CAR GARAGE
• RAPIDLY GROWING COMMUNITY

Property features AI

Finance

• Other: Property listed as residential — single family
• Financial info: No financial details provided
• HOA & community: No HOA information provided

Exterior

• Parking: Attached 2-car garage (approximately 462 sq ft)
• Security: No accessibility features noted
• Utilities: Public water; Municipal sewer connection; Regular solid waste service
• Home design: Single-family residence; Two-story home
• Construction: Vinyl and wood siding; Poured concrete foundation
• Exterior features: Lot is approximately 0.24 acres

Interior

• Kitchen: Kitchen on main level
• Bedrooms: Three bedrooms total — two on the main level and one on the upper level
• Flooring: No flooring information provided
• Bathrooms: One full bathroom
• Heating & cooling: Forced-air heating; No central air
• Interior features: Appliances not included
• Laundry & utility: No laundry information provided

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $85k.

Deal economics

• At list price, monthly cash flow is $489 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $85k).
• Recommended offer: $83k (1.5% below list) — sets the bar for market timing.
• Cap rate 13.2% 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 B — 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 flat; 334 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 24d 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 $1,518/mo this rent would consume 48% 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 $584 of loan paydown is wiped out by about $3k 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 + 0.8% rent growth), your $24k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 18 days — a 2% lower offer ($83k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 6y 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.

Risks & watch-outs

• Watch-outs: property tax is 3.3% of price; built in 1922 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $83,286 (1.5% below list)

Questions for the listing agent

1. Built in 1922 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
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: 1.80% ✓
• Cap rate: 13.23%
• Cash-on-cash: 24.76%
• DSCR: 2.10
• GRM: 4.6

CMA / ARV

• ARV (on-the-fly): $118,248
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2920 Schofield Ave	0.00mi	3/1.0 (+1)	1,516 (0%)	0mo	$80,000	$53	95
2460 Sheldon St	0.46mi	2/1.0	1,530 (+1%)	3mo	$120,000	$78	75
2717 Sangster Ave	0.27mi	3/1.5 (+1)	1,628 (+7%)	1mo	$126,400	$78	67
3214 N Tacoma Ave	0.64mi	2/1.0	1,488 (-2%)	2mo	$194,900	$131	65
2844 Schofield Ave	0.07mi	3/2.0 (+1)	1,349 (-11%)	7mo	$185,000	$137	63
3338 Ralston Ave	0.54mi	3/1.0 (+1)	1,470 (-3%)	4mo	$114,000	$78	62
3437 Caroline Ave	0.71mi	2/1.0	1,568 (+3%)	1mo	$40,000	$26	60
3353 Nicholas Ave	0.60mi	2/1.0	1,440 (-5%)	5mo	$70,000	$49	59
3066 N Temple Ave	0.60mi	2/1.0	1,610 (+6%)	6mo	$60,000	$37	57
3350 N Arsenal Ave	0.60mi	2/1.0	1,632 (+8%)	5mo	$90,000	$55	55
2520 Hillside Ave	0.50mi	3/1.0 (+1)	1,306 (-14%)	4mo	$175,000	$134	46
3458 Orchard Ave	0.71mi	3/1.0 (+1)	1,728 (+14%)	4mo	$68,150	$39	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 · 0.81% rent growth · sell at horizon

5-year hold

• IRR: 15.4%
• Equity multiple: 1.60×
• Total profit: $14,243
• Equity at exit: $12,607

10-year hold

• IRR: 22.3%
• Equity multiple: 2.69×
• Total profit: $40,022
• Equity at exit: $7,311

Cash invested: $23,675 (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: 334
• Price-to-rent: 4.6×

Monthly cashflow live

• Estimated rent: $1,518 high
• Mortgage (P&I): −$443
• Tax from tax record: −$232 /mo · $2,788/yr
• Insurance: −$35
• HOA: −$0
• Vacancy / Maint / Mgmt: −$319
• Net cashflow: $489

Break-even live

Break-even rent $900

Max offer price $84,555

Occupancy floor 63%

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: $21,139
• Closing costs: $2,537
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2820 Caroline Ave Indianapolis, IN	3.0	1.5	1112	$1,250	$1.12	23d	1	0.26mi
2757 Columbia Ave Unit 2757-B Indianapolis, IN	3.0	2.0	1350	$1,525	$1.13	43d	1	0.38mi
3121 Baltimore Ave Indianapolis, IN	3.0	1.0	1232	$7,865	$6.38	7d	1	0.42mi
3132 Dr Andrew J Brown Ave Indianapolis, IN	2.0	1.0–2.0	791	$2,120	$2.68	1d	46	0.44mi
2553 Columbia Ave Unit 2553-B Indianapolis, IN	3.0	2.0	1350	$1,525	$1.13	43d	1	0.45mi
2950 Winthrop Ave Indianapolis, IN	3.0	2.0	1224	$1,449	$1.18	43d	1	0.55mi
2372 Beckwith Dr Indianapolis, IN	4.0	1.0–1.5	779	$1,064	$1.36	1d	32	0.56mi
3139 Guilford Ave Indianapolis, IN	3.0	1.0	1068	$1,345	$1.26	43d	1	0.57mi
3110 Guilford Ave Indianapolis, IN	3.0	1.5	1250	$1,295	$1.04	23d	1	0.59mi
3208 Guilford Ave Indianapolis, IN	3.0	3.0	1800	$1,700	$0.94	12d	1	0.61mi
2751 Guilford Ave Unit Aunit Indianapolis, IN	3.0	2.0	1250	$1,750	$1.40	43d	1	0.63mi
2751 Guilford Ave Unit B Indianapolis, IN	3.0	2.0	1250	$1,750	$1.40	13d	1	0.63mi
3203 Sutherland Ave Unit 1310761P Indianapolis, IN	2.0	1.0	1097	$3,668	$3.34	1d	1	0.65mi
2711 Guilford Ave Indianapolis, IN	3.0	2.0	1250	$1,695	$1.36	23d	1	0.66mi
2340 Columbia Ave Unit 2340-B Indianapolis, IN	3.0	2.0	1350	$1,650	$1.22	43d	1	0.69mi
1902 E 35th St Indianapolis, IN	3.0	1.0	1100	$1,600	$1.45	43d	1	0.76mi
2203 Sheldon St Unit B Indianapolis, IN	3.0	2.0	1350	$1,500	$1.11	44d	1	0.78mi
717 E 27th St Indianapolis, IN	1.0	1.5	1322	$2,600	$1.97	43d	1	0.79mi
2707 N College Ave Indianapolis, IN	3.0	2.0	1500	$2,200	$1.47	17d	1	0.80mi
2709 N College Ave Indianapolis, IN	3.0	2.0	1500	$2,200	$1.47	23d	1	0.80mi
3106 N College Ave Indianapolis, IN	3.0	1.5	1400	$1,700	$1.21	7d	1	0.84mi
2519 N College Ave Unit 1 Indianapolis, IN	3.0	2.5	1416	$1,850	$1.31	43d	1	0.85mi
1313 E 22nd St Indianapolis, IN	2.0	2.5	1325	$2,750	$2.08	17d	1	0.86mi
3476 Birchwood Ave Indianapolis, IN	3.0	1.5	1420	$1,625	$1.14	23d	1	0.93mi
2830 N Park Ave Indianapolis, IN	2.0	3.0	1500	$1,600	$1.07	43d	1	0.93mi
2960 N Park Ave Indianapolis, IN	3.0	2.0	1400	$1,595	$1.14	43d	1	0.93mi
2960 N Park Ave Indianapolis, IN	3.0	1.5	1400	$1,550	$1.11	23d	1	0.93mi
2958 N Park Ave Unit 2958 Indianapolis, IN	3.0	1.5	1350	$1,450	$1.07	2d	1	0.94mi
2221 Bellefontaine St Indianapolis, IN	3.0	2.5	1712	$2,349	$1.37	23d	1	0.94mi
728 E 34th St Indianapolis, IN	3.0	1.0	1491	$1,400	$0.94	4d	1	0.96mi
728 E 34th St Indianapolis, IN	3.0	1.0	1491	$1,400	$0.94	19d	1	0.96mi
3141 N Park Ave Indianapolis, IN	3.0	1.0	1390	$1,000	$0.72	43d	1	0.96mi
3359 N College Ave Indianapolis, IN	2.0	1.5	1450	$1,795	$1.24	10d	1	0.97mi
3359 N College Ave Unit 3359 Indianapolis, IN	2.0	1.5	1082	$1,895	$1.75	23d	1	0.97mi
3509 Guilford Ave Indianapolis, IN	3.0	1.5	1351	$1,445	$1.07	14d	1	0.99mi
2920 Ruckle St Indianapolis, IN	3.0	1.5	1272	$1,700	$1.34	7d	1	0.99mi
2157 Bellefontaine St Unit 2157 Indianapolis, IN	2.0	1.0	1200	$1,200	$1.00	23d	1	0.99mi
2950 Ruckle St Indianapolis, IN	3.0	1.0	1450	$1,300	$0.90	43d	1	1.00mi
3541 Birchwood Ave Indianapolis, IN	3.0	1.0	1400	$1,549	$1.11	11d	1	1.00mi
3370 N College Ave Indianapolis, IN	3.0	1.0	1680	$1,275	$0.76	1d	1	1.00mi

Listing history 11 events

1. 2026-06-07
   statusdays on market $84,555 Pending 18 DOM
2. 2026-06-03
   days on market $84,555 Active 15 DOM
3. 2026-06-02
   days on market $84,555 Active 14 DOM
4. 2026-06-01
   days on market $84,555 Active 13 DOM
5. 2026-05-31
   days on market $84,555 Active 12 DOM
6. 2026-05-19
   listed $84,555 Active
7. 2021-06-23
   historical
8. 2021-04-08
   listed $69,999 Active
9. 2021-03-17
   historical
10. 2021-01-12
    price $79,900
11. 2020-12-06
    listed $84,900 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: $2,788 · $232/mo
• Projected year-2 tax: $2,788 · $232/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 4/10 Moderate 7 d/yr ≥102°F today · 19 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: $18,221
• − Mortgage interest: −$4,736
• − Property taxes: −$2,788
• − Insurance: −$423
• − Repairs & maintenance: −$1,458
• − Management: −$1,458
• − Depreciation: −$2,460
• Taxable income: $4,899
• Est. tax owed @ 24.0%: −$1,176
• After-tax cash flow: $4,687/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

-0.4% since first listed

6 events — show timeline

• 2026-05-19 Listed $84,555 MIBOR as Distributed by MLS Grid
• 2021-06-23 Listing Removed — MIBOR as Distributed by MLS Grid
• 2021-04-08 Listed $69,999 MIBOR as Distributed by MLS Grid
• 2021-03-17 Listing Removed — MIBOR as Distributed by MLS Grid
• 2021-01-12 Price Changed $79,900 MIBOR as Distributed by MLS Grid
• 2020-12-06 Listed $84,900 MIBOR as Distributed by MLS Grid

Property tax history

+24.4%/yr

Latest (2025): $2,788 · +22.0% YoY. Source: county tax records.