2850 Punto Alto Ct · Indianapolis city (balance), IN 46227

$89,999

2 bd · 1.5 ba · 966 sqft · Condo public records · 78 Days on market

Built 1973 $280/mo HOA · 21% of rent

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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 +16.3/30.0
• 1% rule +9.7/10.0
• ARV discount +7.5/15.0
• DSCR +5.1/10.0
• Schools +3.5/10.0
• Rent growth +3.1/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Pool, Tennis Courts, Club House. Low Maintenance 2 BR 1 ½ BA Condo in Perry Township.Bright & Spacious Family Room Open to Dining Room that walks out to Private Patio. Kitchen Features Plenty of Cabinets and Countertop Space. Shared Garage, Snow/Trash removal and Lawn Care Included. Close to shopping, restaurants, and entertainment. Just Minutes from the Greenwood Park Mall and I-65.

Key facts

• Walk-in closet
• Storage locker
• Shared garage

Tags

• SHARED GARAGE
• STORAGE LOCKER
• NEWER KITCHEN CABINETS
• STAINLESS-STEEL APPLIANCES
• OPEN DINING ROOM LIVING AREA
• WALK-IN CLOSET

Property features AI

Finance

• Other: Horizontal condo (mandatory fee ownership type)
• HOA & community: Monthly HOA fee of $280; HOA includes clubhouse and insurance (see remarks); Community amenities: clubhouse, pool, tennis courts; Association governed with covenants and restrictions

Exterior

• Parking: Attached garage with finished interior and keyless entry; One garage space; Additional storage in garage
• Utilities: Public water; Municipal sewer connection; Cable available
• Home design: Attached condominium; Two levels; Ground-level unit available in the building; Corner lot
• Construction: Stucco construction; Crawl space foundation
• Exterior features: Patio; Partial fencing; Tennis court(s)

Interior

• Kitchen: Electric oven; Dishwasher; Garbage disposal; Eat-in kitchen
• Bedrooms: Two upper-level bedrooms; Primary bedroom with patio access and walk-in closet
• Bathrooms: One full bathroom (upper) with tub and shower; One half bathroom (main)
• Heating & cooling: Forced air heating (electric); Central air conditioning
• Interior features: Walk-in closet(s); Eat-in kitchen; Laundry in unit
• Laundry & utility: In-unit laundry; Dryer

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath condo listed at $90k.

Deal economics

• At list price, monthly cash flow is $50 ($600/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $90k).
• Recommended offer: $85k (6.0% below list) — sets the bar for market timing.
• Cap rate 7.0% 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.
• 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.
• Market conditions: Rents rising (+2.5%/yr); 245 active listings in the ZIP; 33 comparable units currently listed for rent nearby; rentals leasing fast (median 12d on market — plan ~1-2 weeks tenant-placement turnaround); 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 $622 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.

Negotiation context

• It's been on market 78 days — a 6% lower offer ($85k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 19y ago; this cycle's ask has dropped $10k (10%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $44k; list at $90k implies a 107% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 2.8% of price; HOA is 21% of rent.

Recommended offer $84,599 (6.0% below list)

Questions for the listing agent

1. It's been on market 78 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1973 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
4. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
5. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. 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.
9. 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.
10. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.47% ✓
• Cap rate: 6.96%
• Cash-on-cash: 2.38%
• DSCR: 1.11
• GRM: 5.7

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 2.46% rent growth · sell at horizon

5-year hold

• IRR: -13.1%
• Equity multiple: 0.53×
• Total profit: $-11,864
• Equity at exit: $13,419

10-year hold

• IRR: -5.1%
• Equity multiple: 0.68×
• Total profit: $-8,118
• Equity at exit: $7,781

Cash invested: $25,200 (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 46227

• Rents YoY: 2.5%
• Active inventory: 245
• Price-to-rent: 5.7×

Monthly cashflow live

• Estimated rent: $1,325 high
• Mortgage (P&I): −$472
• Tax from tax record: −$207 /mo · $2,485/yr
• Insurance: −$37
• HOA: −$280
• Vacancy / Maint / Mgmt: −$278
• Net cashflow: $50

Break-even live

Break-even rent $1,261

Max offer price $89,999

Occupancy floor 91%

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: $22,500
• Closing costs: $2,700
• Reserves months: —
• Total cash needed: —

Rent comps 33 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
8213 Zona Dr Indianapolis, IN	1.0–3.0	1.0–1.5	935	$1,102	$1.18	1d	16	0.32mi
8055 Crossing Dr Indianapolis, IN	1.0–2.0	1.0	775	$1,224	$1.58	2d	15	0.36mi
8631 Pleasant Creek Ct Indianapolis, IN	3.0	2.0	1120	$1,706	$1.52	7d	1	0.43mi
7909 Southfield Dr Indianapolis, IN	3.0	2.0	1056	$1,445	$1.37	7d	1	0.54mi
3546 Valley Lake Dr Indianapolis, IN	3.0	1.0	984	$1,645	$1.67	4d	1	0.54mi
3503 Pleasant Lake Dr Indianapolis, IN	3.0	1.0	1064	$1,615	$1.52	12d	1	0.56mi
2524 Tamarack Ln Indianapolis, IN	1.0–2.0	1.0	655	$969	$1.48	7d	7	0.59mi
3717 Piermont Dr Indianapolis, IN	1.0–3.0	1.0–2.0	1038	$1,414	$1.36	2d	23	0.62mi
8960 S Keystone Ave Indianapolis, IN	1.0–2.0	1.0	881	$1,270	$1.44	1d	7	0.62mi
3741 Lima Ct Indianapolis, IN	2.0	1.0	976	$1,350	$1.38	7d	1	0.69mi
1039 N Paz Dr Greenwood, IN	1.0–2.0	1.0	800	$1,193	$1.49	1d	8	0.80mi
7913 Ella Dobbs Ln Indianapolis, IN	1.0–3.0	1.0–2.0	1021	$1,325	$1.30	23d	1	0.93mi
14 Greenwood Trl N Greenwood, IN	2.0	1.5	1088	$1,275	$1.17	14d	1	0.94mi
968 Greenwood Trl W Greenwood, IN	2.0	2.0	1088	$1,475	$1.36	12d	1	0.98mi
921 Parliament Pl Greenwood, IN	1.0–3.0	1.0–2.0	994	$1,298	$1.30	2d	30	1.04mi
8580 Beechmill Ln Indianapolis, IN	1.0–2.0	1.0–1.5	794	$1,265	$1.59	2d	13	1.05mi
1542 Citrin Pl Unit 7810 Indianapolis, IN	2.0	2.0	1027	$1,505	$1.47	4d	1	1.10mi
742 Loews Blvd Greenwood, IN	1.0	1.0	600	$795	$1.32	43d	1	1.13mi
1201 Community Pl Indianapolis, IN	2.0–3.0	1.0–1.5	908	$1,300	$1.43	23d	3	1.25mi
88 Keran Manor Ct Greenwood, IN	2.0	1.0	945	$1,450	$1.53	43d	1	1.25mi
745 Wood Dale Ter Greenwood, IN	1.0–3.0	1.0–1.5	1032	$1,326	$1.28	3d	10	1.30mi
800 Kings Mill Rd Greenwood, IN	2.0	1.0–2.0	701	$1,358	$1.94	1d	52	1.30mi
1043 Mikes Way Greenwood, IN	3.0	2.0	1090	$1,650	$1.51	43d	1	1.30mi
1009 Lismore Ln Indianapolis, IN	1.0–2.0	1.0–2.0	875	$1,365	$1.56	23d	1	1.37mi
4545 Scarlet Oak Way Indianapolis, IN	1.0–3.0	1.0–2.0	1101	$1,690	$1.53	1d	16	1.38mi
634 Wooddale Ter Unit 1010 Greenwood, IN	1.0	1.0	882	$917	$1.04	43d	1	1.40mi
622 Wood Dale Ter Greenwood, IN	1.0–2.0	1.0–1.5	947	$1,104	$1.17	23d	3	1.42mi
628 Wooddale Ter Unit 1007 Greenwood, IN	2.0	1.5	1013	$1,104	$1.09	43d	1	1.43mi
7215 Grand Ritz Ln Indianapolis, IN	2.0	2.0	947	$1,260	$1.33	23d	1	1.46mi
601 Wood Dale Ter Greenwood, IN	2.0	1.5	960	$1,174	$1.22	44d	1	1.46mi
8120 Bravo Pl Apt 5 Indianapolis, IN	2.0	1.5	947	$1,235	$1.30	23d	1	1.49mi
600 Wooddale Ter Apt 07 Greenwood, IN	2.0	1.0	750	$999	$1.33	23d	1	1.50mi
600 Wood Dale Ter Greenwood, IN	2.0	1.0	750	$999	$1.33	43d	1	1.50mi

HOA detail condo

• Monthly dues: $280 · $3,360/yr
• Likely covers: trashlandscapingpool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 25 events

1. 2026-06-18
   days on market $89,999 Active 78 DOM
2. 2026-06-17
   days on market $89,999 Active 77 DOM
3. 2026-06-16
   days on market $89,999 Active 76 DOM
4. 2026-06-15
   days on market $89,999 Active 75 DOM
5. 2026-06-13
   days on market $89,999 Active 73 DOM
6. 2026-06-09
   days on market $89,999 Active 69 DOM
7. 2026-06-08
   pricedays on market $89,999 Active 68 DOM
8. 2026-06-07
   days on market $95,000 Active 67 DOM
9. 2026-06-03
   days on market $95,000 Active 63 DOM
10. 2026-06-02
    days on market $95,000 Active 62 DOM
11. 2026-06-01
    days on market $95,000 Active 61 DOM
12. 2026-05-31
    days on market $95,000 Active 60 DOM
13. 2026-05-01
    price $95,000
14. 2026-04-01
    listed $100,000 Active
15. 2023-08-21
    historical $950
16. 2023-08-04
    listed $950
17. 2016-09-20
    soldstatus $43,500 Sold 397-char remark

    Show marketing remark (397 chars)

    Pool, Tennis Courts, Club House. Low Maintenance 2 BR 1 ½ BA Condo in Perry Township.Bright & Spacious Family Room Open to Dining Room that walks out to Private Patio. Kitchen Features Plenty of Cabinets and Countertop Space. Shared Garage, Snow/Trash removal and Lawn Care Included. Close to shopping, restaurants, and entertainment. Just Minutes from the Greenwood Park Mall and I-65.

18. 2016-08-08
    historical Active with Contingency 397-char remark

    Show marketing remark (397 chars)

    Pool, Tennis Courts, Club House. Low Maintenance 2 BR 1 ½ BA Condo in Perry Township.Bright & Spacious Family Room Open to Dining Room that walks out to Private Patio. Kitchen Features Plenty of Cabinets and Countertop Space. Shared Garage, Snow/Trash removal and Lawn Care Included. Close to shopping, restaurants, and entertainment. Just Minutes from the Greenwood Park Mall and I-65.

19. 2016-07-01
    listed $49,990 Active 397-char remark

    Show marketing remark (397 chars)

    Pool, Tennis Courts, Club House. Low Maintenance 2 BR 1 ½ BA Condo in Perry Township.Bright & Spacious Family Room Open to Dining Room that walks out to Private Patio. Kitchen Features Plenty of Cabinets and Countertop Space. Shared Garage, Snow/Trash removal and Lawn Care Included. Close to shopping, restaurants, and entertainment. Just Minutes from the Greenwood Park Mall and I-65.

20. 2008-10-24
    historical
21. 2008-06-24
    listed $46,500
22. 2008-04-16
    historical
23. 2007-10-18
    listed $49,000
24. 2007-10-05
    historical
25. 2007-08-03
    listed $51,500

ⓘ 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: $2,485 · $207/mo
• Projected year-2 tax: $2,485 · $207/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 · 19 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,897
• − Mortgage interest: −$5,041
• − Property taxes: −$2,485
• − Insurance: −$450
• − Repairs & maintenance: −$1,272
• − Management: −$1,272
• − HOA: −$3,360
• − Depreciation: −$2,618
• Taxable loss: −$601
• Est. tax savings @ 24.0%: +$144
• After-tax cash flow: $744/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): 57,587
• Household income: $53,629
• Rent vs Own: 55.1% rent · 44.9% own
• Severe rent burden: 3583.0

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 0.59)
• Race & ethnicity: White 61% Asian 12% Black 11% Hispanic / Latino 10% Two or more races 8%
• Hispanic origin (detail): Mexican 8%
• Common ancestry: Italian 2% Slovak 2% Lithuanian 1%
• Foreign-born: 17% · Philippines, Canada, Vietnam
• Languages at home: 79% English-only · Other Asian/Pacific 9% Spanish 7% 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: ▼ -260.49%
• Current HPI: 276.8271
• Rent YoY: ▲ 2.46%
• 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

+84.5% since first listed

13 events — show timeline

• 2026-05-01 Price Changed $95,000 MIBOR as Distributed by MLS Grid
• 2026-04-01 Listed $100,000 MIBOR as Distributed by MLS Grid
• 2023-08-21 Rental Removed $950 MIBOR
• 2023-08-04 Listed for Rent $950 MIBOR
• 2016-09-20 Sold (MLS) $43,500 MIBOR as Distributed by MLS Grid
• 2016-08-08 Contingent — MIBOR as Distributed by MLS Grid
• 2016-07-01 Listed $49,990 MIBOR as Distributed by MLS Grid
• 2008-10-24 Listing Removed — MIBOR as Distributed by MLS Grid
• 2008-06-24 Listed $46,500 MIBOR as Distributed by MLS Grid
• 2008-04-16 Listing Removed — MIBOR as Distributed by MLS Grid
• 2007-10-18 Listed $49,000 MIBOR as Distributed by MLS Grid
• 2007-10-05 Listing Removed — MIBOR as Distributed by MLS Grid
• 2007-08-03 Listed $51,500 MIBOR as Distributed by MLS Grid

Property tax history

+6.6%/yr

Latest (2025): $2,485 · +5.2% YoY. Source: county tax records.