1209 W 29th · Indianapolis city (balance), IN 46208

$83,500

2 bd · 1.0 ba · 750 sqft · SingleFamily public records · 5 Days on market

Built 1900 3,746 sqft lot Est $128k · 35% under

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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 +29.8/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +8.5/10.0
• Rent growth +4.1/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.4/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

PRICED TO SELL FOR THE INVESTOR, HOME NEEDS SOME REPAIRS, HAS NICE 1C-D GARAGE, WAS LISTED AT $35,000. BASEMENT HAS OUTSIDE ACCESS. MUST PROVIDE PROOF OF FUNDS OR PREQUAL. LTR WITH OFFER. ALL OFFERS SUBJECT TO SELLER AD DENDUMS.

Key facts

• Spacious yard
• Easy access
• Conveniently located

Tags

• DETACHED GARAGE
• SPACIOUS YARD
• CONVENIENTLY LOCATED
• EASY ACCESS

Property features AI

Exterior

• Parking: Detached 1-car garage (approx. 240 sq ft)
• Utilities: Public water; Municipal sewer connected; Solid waste service available
• Home design: Single family residence; One story
• Construction: Aluminum siding; Other type foundation
• Exterior features: Less than 1/4 acre lot; Lot size approximately 0.09 acres

Interior

• Kitchen: Kitchen on main level (10x10); No appliances included
• Bedrooms: 2 bedrooms on the main level (one is 10x10)
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating (natural gas); Central air conditioning
• Interior features: Attic access
• Laundry & utility: No specific laundry or utility appliances listed

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $84k.

Deal economics

• At list price, monthly cash flow is $307 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $84k).
• Cap rate 10.7% 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.
• Zoned schools: Center For Inquiry School 27 (math 25% / reading 29%, grade F, #737 of 994 statewide, top 76%, 525 students, 51% FRL); H L Harshman Middle School (math 3% / reading 16%, grade F, #316 of 330 statewide, top 96%, 549 students, 84% FRL).
• Market conditions: Rents rising fast (+6.4%/yr); 283 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 26d on market — plan ~3-4 weeks tenant-placement turnaround); 40% 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).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $577 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 + 6.4% rent growth), your $23k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• Only 5 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 25y 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 $15k; list at $84k implies a 457% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $83,500

Questions for the listing agent

1. Built in 1900 — 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: 1.35% ✓
• Cap rate: 10.71%
• Cash-on-cash: 15.77%
• DSCR: 1.70
• GRM: 6.2

CMA / ARV

• ARV (on-the-fly): $127,500
• Comps found: 3

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1156 Udell St	0.07mi	2/1.0	808 (+8%)	15mo	$137,000	$170	72
1352 Edgemont Ave	0.46mi	3/1.5 (+1)	690 (-8%)	20mo	$185,000	$268	41
2173 Gent Ave	0.74mi	2/1.0	660 (-12%)	10mo	$60,000	$91	37

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 · 6.43% rent growth · sell at horizon

5-year hold

• IRR: 10.5%
• Equity multiple: 1.43×
• Total profit: $10,089
• Equity at exit: $12,450

10-year hold

• IRR: 22.2%
• Equity multiple: 3.22×
• Total profit: $51,800
• Equity at exit: $7,220

Cash invested: $23,380 (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 46208

• Rents YoY: 6.4%
• Active inventory: 283
• Price-to-rent: 6.2×

Monthly cashflow live

• Estimated rent: $1,128 high
• Mortgage (P&I): −$438
• Tax from tax record: −$111 /mo · $1,330/yr
• Insurance: −$35
• HOA: −$0
• Vacancy / Maint / Mgmt: −$237
• Net cashflow: $307

Break-even live

Break-even rent $739

Max offer price $83,500

Occupancy floor 68%

Sensitivity live

Price	-10% $355	-5% $331	+0% $307	+5% $284	+10% $260
Rent	-10% $218	-5% $263	+0% $307	+5% $352	+10% $396
Rate	-1.0pp $349	-0.5pp $329	base $307	+0.5pp $286	+1.0pp $264

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: $20,875
• Closing costs: $2,505
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1227 W 29th St Indianapolis, IN	3.0	1.5	1056	$1,250	$1.18	25d	1	0.03mi
1319 W 27th St Indianapolis, IN	2.0	1.0	651	$900	$1.38	14d	1	0.24mi
1341 W Congress Ave Unit 1343 Indianapolis, IN	1.0	1.0	600	$750	$1.25	46d	1	0.33mi
1457 W 29th St Indianapolis, IN	2.0	1.0	686	$995	$1.45	22d	1	0.34mi
1214 W 25th St Indianapolis, IN	1.0	1.0	800	$775	$0.97	25d	1	0.35mi
1261 W 32nd St Indianapolis, IN	2.0	1.0	832	$975	$1.17	46d	1	0.35mi
1519 W 28th St Indianapolis, IN	2.0	1.0	816	$895	$1.10	46d	1	0.40mi
1244 Edgemont Ave Indianapolis, IN	2.0	1.0	1092	$1,275	$1.17	46d	1	0.42mi
1460 W 32nd St Indianapolis, IN	1.0	1.0	576	$847	$1.47	25d	1	0.48mi
1470 W 32nd St Indianapolis, IN	2.0	1.0	700	$1,000	$1.43	46d	1	0.50mi
970 Edgemont Ave Indianapolis, IN	2.0	1.0	740	$845	$1.14	6d	1	0.50mi
970 Edgemont Ave Indianapolis, IN	2.0	1.0	740	$845	$1.14	0d	1	0.50mi
926 W 32nd St Indianapolis, IN	3.0	2.0	1050	$1,295	$1.23	9d	1	0.50mi
3440 N Harding St Indianapolis, IN	2.0	1.0	754	$1,275	$1.69	22d	1	0.59mi
3440 N Harding St Indianapolis, IN	2.0	1.0	754	$1,325	$1.76	46d	1	0.59mi
906 Burdsal Pkwy Indianapolis, IN	2.0	1.0	936	$1,295	$1.38	25d	1	0.61mi
908 Burdsal Pkwy Marion, IN	2.0	1.0	936	$1,300	$1.39	25d	1	0.61mi
1039 W 36th St Indianapolis, IN	2.0	1.0	864	$995	$1.15	46d	1	0.66mi
1138 36th St Unit 1 Indianapolis, IN	1.0	1.0	900	$885	$0.98	22d	1	0.66mi
819 Edgemont Ave Apt 115 Indianapolis, IN	1.0	1.0	540	$915	$1.69	46d	1	0.67mi
2248 N Harding St Indianapolis, IN	2.0	1.0	1100	$899	$0.82	25d	1	0.68mi
1367 W Pruitt St Indianapolis, IN	3.0	1.0	1088	$1,450	$1.33	46d	1	0.69mi
541 W 29th St Indianapolis, IN	1.0	1.0	740	$900	$1.22	22d	1	0.72mi
538 W 29th St Unit B Indianapolis, IN	3.0	1.0	1031	$1,349	$1.31	0d	1	0.72mi
1415 W Pruitt St Indianapolis, IN	3.0	1.0	1001	$1,249	$1.25	25d	1	0.73mi
516 W 28th St Indianapolis, IN	2.0	1.0	1005	$1,100	$1.09	25d	1	0.77mi
3017 Ethel Ave Indianapolis, IN	3.0	1.5	1079	$1,400	$1.30	25d	1	0.78mi
2937 Shriver Ave Indianapolis, IN	1.0	1.0	564	$850	$1.51	46d	1	0.94mi
524 W 23rd St Indianapolis, IN	2.0	1.0	664	$949	$1.43	46d	1	0.95mi
524 W 23rd St Unit 2 Indianapolis, IN	2.0	1.0	669	$949	$1.42	0d	1	0.95mi
2316 Indianapolis Ave Indianapolis, IN	1.0	1.0	550	$800	$1.45	16d	1	0.97mi
2235 Doctor Martin Luther King Junior St Indianapolis, IN	3.0	1.5	948	$1,700	$1.79	46d	1	0.99mi
2818 N Capitol Ave Apt 1 Indianapolis, IN	1.0	1.0	600	$2,000	$3.33	46d	1	1.14mi
2808 N Capitol Ave Indianapolis, IN	2.0	1.0	900	$975	$1.08	25d	1	1.14mi
1228 W 18th St Indianapolis, IN	2.0	1.0	1050	$1,200	$1.14	46d	1	1.15mi
2602 Mansion Dr Indianapolis, IN	2.0–3.0	2.0	1850	$1,379	$0.75	9d	6	1.20mi
2937 N Kenwood Ave Unit A Indianapolis, IN	1.0	1.0	672	$889	$1.32	24d	1	1.23mi
3413 N Capitol Ave Indianapolis, IN	3.0	1.0	588	$1,299	$2.21	25d	1	1.34mi
3469 Graceland Ave Indianapolis, IN	2.0	1.0	1000	$1,200	$1.20	46d	1	1.34mi
55 W Fall Creek Parkway South Dr Unit C Indianapolis, IN	2.0	1.0	1000	$1,035	$1.03	46d	1	1.36mi

Listing history 4 events

1. 2026-06-21
   days on market $83,500 Active 5 DOM
2. 2026-06-18
   days on market $83,500 Active 2 DOM
3. 2026-06-16
   remarks 437-char remark
4. 2026-06-16
   listed $83,500 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: $1,330 · $111/mo
• Projected year-2 tax: $1,330 · $111/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 5/10 Major FEMA zone X (unshaded) · 66% 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 0% 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: $13,532
• − Mortgage interest: −$4,677
• − Property taxes: −$1,330
• − Insurance: −$418
• − Repairs & maintenance: −$1,083
• − Management: −$1,083
• − Depreciation: −$2,429
• Taxable income: $2,513
• Est. tax owed @ 24.0%: −$603
• After-tax cash flow: $3,085/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): 22,379
• Household income: $60,062
• Rent vs Own: 44.1% rent · 55.9% own
• Severe rent burden: 978.0

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: White 46% Black 40% Hispanic / Latino 8% Two or more races 6% Asian 2%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Romanian 2% Slovak 2% Italian 1%
• Foreign-born: 4% · Canada
• Languages at home: 93% English-only · Spanish 5% French/Haitian/Cajun 1% 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: ▼ -324.63%
• Current HPI: 319.7725
• Rent YoY: ▲ 6.43%
• 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

+138.6% since first listed

5 events — show timeline

• 2026-06-16 Listed $83,500 MIBOR as Distributed by MLS Grid
• 2002-10-15 Sold (MLS) $15,000 MIBOR as Distributed by MLS Grid
• 2002-08-09 Listed $18,000 MIBOR as Distributed by MLS Grid
• 2002-01-23 Listing Removed — MIBOR as Distributed by MLS Grid
• 2001-07-23 Listed $35,000 MIBOR as Distributed by MLS Grid

Property tax history

+17.3%/yr

Latest (2025): $1,330 · +8.7% YoY. Source: county tax records.