1930 Tallman Ave · Indianapolis city (balance), IN 46218

$129,900

4 bd · 2.0 ba · 1,572 sqft · SingleFamily public records · 121 Days on market

Built 1930 4,879 sqft lot $83/sqft · 29% below area Est $216k · 40% 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 +27.3/30.0
• ARV discount +15.0/15.0
• DSCR +9.5/10.0
• 1% rule +7.4/10.0
• 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 MLS

A partially rehabbed 3-bed/2-bath Near Northside single-family with the heavy lifting already started. Vinyl windows, updated flooring, covered porch, full fence, and storage shed already in place. Walk-in closet adds a rental premium that tenants notice. A quick finish gets this one cash flowing fast.

Key facts

• Covered porch
• Vinyl windows
• Complete fence

Tags

• VINYL WINDOWS
• UPDATED FLOORING
• COVERED PORCH
• COMPLETE FENCE
• STORAGE SHED

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $130k.

Deal economics

• At list price, monthly cash flow is $378 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $130k).
• Recommended offer: $114k (12.0% below list) — sets the bar for market timing.
• Cap rate 9.8% 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 $1,617/mo this rent would consume 51% 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 $898 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.

Negotiation context

• It's been on market 121 days — a 12% lower offer ($114k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 5y ago; this cycle's ask has dropped $10k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $85k; list at $130k implies a 53% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1930 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $114,312 (12.0% below list)

Questions for the listing agent

1. It's been on market 121 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1930 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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.
6. 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.
7. 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: 1.24% ✓
• Cap rate: 9.78%
• Cash-on-cash: 12.47%
• DSCR: 1.55
• GRM: 6.7

CMA / ARV

• ARV (median comp): $215,820
• List price: $129,900
• Delta: -39.81%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1649 N Arsenal Ave	0.39mi	4/2.0	1,576 (+0%)	8mo	$308,000	$195	75
1974 Ralston Ave	0.13mi	3/2.0 (-1)	1,388 (-12%)	9mo	$179,900	$130	62
2221 Langley Ave	0.29mi	3/1.0 (-1)	1,672 (+6%)	8mo	$85,000	$51	60
1918 Cornell Ave	0.69mi	4/2.0	1,580 (+0%)	10mo	$299,900	$190	58
1655 Sheldon St	0.34mi	3/2.5 (-1)	1,396 (-11%)	3mo	$359,900	$258	56
2045 Cornell Ave	0.67mi	4/2.5	1,632 (+4%)	7mo	$409,900	$251	54
1629 Ingram St	0.33mi	3/2.5 (-1)	1,788 (+14%)	1mo	$245,000	$137	54
2621 Brookway St	0.64mi	3/1.0 (-1)	1,584 (+1%)	7mo	$121,440	$77	54
2042 Columbia Ave	0.47mi	3/1.5 (-1)	1,380 (-12%)	2mo	$245,000	$178	49
2531 E Brookside Ave	0.52mi	3/1.5 (-1)	1,704 (+8%)	11mo	$174,900	$103	46
2524 E 17th St	0.58mi	3/2.0 (-1)	1,704 (+8%)	11mo	$130,000	$76	45
2053 Bellefontaine St	0.73mi	3/2.5 (-1)	1,344 (-14%)	2mo	$216,500	$161	33

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: -0.3%
• Equity multiple: 0.99×
• Total profit: $-446
• Equity at exit: $19,369

10-year hold

• IRR: 6.9%
• Equity multiple: 1.47×
• Total profit: $17,011
• Equity at exit: $11,231

Cash invested: $36,372 (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: 6.7×

Monthly cashflow live

• Estimated rent: $1,617 high
• Mortgage (P&I): −$681
• Tax from tax record: −$164 /mo · $1,969/yr
• Insurance: −$54
• HOA: −$0
• Vacancy / Maint / Mgmt: −$340
• Net cashflow: $378

Break-even live

Break-even rent $1,138

Max offer price $129,900

Occupancy floor 72%

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: $32,475
• Closing costs: $3,897
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2224 Langley Ave Indianapolis, IN	4.0	2.0	1513	$1,595	$1.05	43d	1	0.26mi
1722 Ingram St Unit A Indianapolis, IN	3.0	2.0	1250	$1,550	$1.24	7d	1	0.28mi
1722 Ingram St Indianapolis, IN	3.0	2.0	1250	$1,550	$1.24	4d	1	0.28mi
1719 Ingram St Unit 1719 Indianapolis, IN	3.0	2.0	1250	$1,500	$1.20	43d	1	0.30mi
1717 Ingram St Unit 1717 Indianapolis, IN	3.0	2.0	1250	$1,500	$1.20	43d	1	0.31mi
2203 Sheldon St Unit B Indianapolis, IN	3.0	2.0	1350	$1,500	$1.11	44d	1	0.38mi
2372 Beckwith Dr Indianapolis, IN	4.0	1.0–1.5	779	$1,349	$1.73	1d	32	0.51mi
2330 E 16th St Indianapolis, IN	3.0	1.5	1378	$1,450	$1.05	4d	1	0.52mi
2407 E 16th St Indianapolis, IN	3.0	1.0	1212	$1,450	$1.20	23d	1	0.56mi
2405 E 16th St Indianapolis, IN	3.0	1.0	1120	$1,450	$1.29	14d	1	0.57mi
2822 E 19th St Indianapolis, IN	3.0	2.0	1130	$1,300	$1.15	43d	1	0.66mi
2815 Brookside Ave Indianapolis, IN	3.0	2.0	1120	$1,350	$1.21	10d	1	0.66mi
2340 Columbia Ave Unit 2340-B Indianapolis, IN	3.0	2.0	1350	$1,650	$1.22	43d	1	0.66mi
1550 N Rural St Indianapolis, IN	3.0	1.0	1388	$1,600	$1.15	43d	1	0.72mi
2161 Bellefontaine St Indianapolis, IN	4.0	2.5	1346	$1,900	$1.41	22d	1	0.75mi
2616 Caroline Ave Indianapolis, IN	4.0	1.0	1276	$1,300	$1.02	43d	1	0.76mi
2221 Bellefontaine St Indianapolis, IN	3.0	2.5	1712	$2,349	$1.37	23d	1	0.77mi
2168 Carrollton Ave Indianapolis, IN	3.0	1.5	1300	$1,799	$1.38	3d	1	0.85mi
1938 N Dearborn St Indianapolis, IN	3.0	1.0	1162	$1,400	$1.20	23d	1	0.85mi
1927 N Dearborn St Indianapolis, IN	3.0	1.0	2182	$1,495	$0.69	43d	1	0.87mi
2145 Coretta Way Indianapolis, IN	3.0	3.0	1430	$2,600	$1.82	43d	1	0.88mi
2553 Columbia Ave Unit 2553-B Indianapolis, IN	3.0	2.0	1350	$1,525	$1.13	43d	1	0.88mi
2117 Coretta Way Indianapolis, IN	3.0	3.5	1409	$2,300	$1.63	43d	1	0.88mi
940 Jefferson Ave Unit 1 Indianapolis, IN	3.0	1.5	1500	$1,400	$0.93	22d	1	0.94mi
2820 Caroline Ave Indianapolis, IN	3.0	1.5	1112	$1,250	$1.12	23d	1	0.95mi
929 N Beville Ave Indianapolis, IN	3.0	1.0	1328	$1,395	$1.05	23d	1	0.98mi
2757 Columbia Ave Unit 2757-B Indianapolis, IN	3.0	2.0	1350	$1,525	$1.13	43d	1	1.00mi
1113 N Oxford St Indianapolis, IN	3.0	2.0	1100	$1,495	$1.36	7d	1	1.03mi
960 Eastern Ave Indianapolis, IN	3.0	1.5	1616	$1,500	$0.93	23d	1	1.04mi
960 Eastern Ave Indianapolis, IN	3.0	1.5	1616	$1,500	$0.93	43d	1	1.04mi
835 Tecumseh St Indianapolis, IN	3.0	2.0	1100	$1,550	$1.41	4d	1	1.04mi
1214 N Oakland Ave Indianapolis, IN	3.0	2.0	1464	$1,350	$0.92	14d	1	1.06mi
1216 N Oakland Ave Indianapolis, IN	3.0	2.0	1464	$1,550	$1.06	14d	1	1.07mi
826 N Beville Ave Indianapolis, IN	3.0	1.0	1472	$1,295	$0.88	4d	1	1.09mi
826 N Beville Ave Indianapolis, IN	3.0	1.0	1472	$1,295	$0.88	2d	1	1.09mi
1036 N Parker Ave Indianapolis, IN	4.0	2.0	1342	$1,745	$1.30	4d	1	1.09mi
1038 N Parker Ave Indianapolis, IN	4.0	2.0	1342	$1,745	$1.30	4d	1	1.09mi
2711 Guilford Ave Indianapolis, IN	3.0	2.0	1250	$1,695	$1.36	23d	1	1.10mi
2519 N College Ave Unit 1 Indianapolis, IN	3.0	2.5	1416	$1,850	$1.31	43d	1	1.10mi
656 N Beville Ave Indianapolis, IN	3.0	2.5	2121	$3,500	$1.65	23d	1	1.15mi

Listing history 28 events

1. 2026-06-18
   days on market $129,900 Active 121 DOM
2. 2026-06-17
   days on market $129,900 Active 120 DOM
3. 2026-06-16
   days on market $129,900 Active 119 DOM
4. 2026-06-15
   days on market $129,900 Active 118 DOM
5. 2026-06-13
   days on market $129,900 Active 116 DOM
6. 2026-06-13
   days on market $129,900 Active 115 DOM
7. 2026-06-09
   days on market $129,900 Active 112 DOM
8. 2026-06-08
   days on market $129,900 Active 111 DOM
9. 2026-06-07
   days on market $129,900 Active 110 DOM
10. 2026-06-03
    days on market $129,900 Active 106 DOM
11. 2026-06-02
    days on market $129,900 Active 105 DOM
12. 2026-06-01
    days on market $129,900 Active 104 DOM
13. 2026-05-31
    days on market $129,900 Active 103 DOM
14. 2026-04-03
    price $135,000 303-char remark

    Show marketing remark (303 chars)

    A partially rehabbed 3-bed/2-bath Near Northside single-family with the heavy lifting already started. Vinyl windows, updated flooring, covered porch, full fence, and storage shed already in place. Walk-in closet adds a rental premium that tenants notice. A quick finish gets this one cash flowing fast.

15. 2026-03-19
    price $137,500 303-char remark

    Show marketing remark (303 chars)

    A partially rehabbed 3-bed/2-bath Near Northside single-family with the heavy lifting already started. Vinyl windows, updated flooring, covered porch, full fence, and storage shed already in place. Walk-in closet adds a rental premium that tenants notice. A quick finish gets this one cash flowing fast.

16. 2026-02-22
    status Active 303-char remark

    Show marketing remark (303 chars)

    A partially rehabbed 3-bed/2-bath Near Northside single-family with the heavy lifting already started. Vinyl windows, updated flooring, covered porch, full fence, and storage shed already in place. Walk-in closet adds a rental premium that tenants notice. A quick finish gets this one cash flowing fast.

17. 2026-02-22
    status Pending 303-char remark

    Show marketing remark (303 chars)

    A partially rehabbed 3-bed/2-bath Near Northside single-family with the heavy lifting already started. Vinyl windows, updated flooring, covered porch, full fence, and storage shed already in place. Walk-in closet adds a rental premium that tenants notice. A quick finish gets this one cash flowing fast.

18. 2026-02-17
    listed $140,000 Active 303-char remark

    Show marketing remark (303 chars)

    A partially rehabbed 3-bed/2-bath Near Northside single-family with the heavy lifting already started. Vinyl windows, updated flooring, covered porch, full fence, and storage shed already in place. Walk-in closet adds a rental premium that tenants notice. A quick finish gets this one cash flowing fast.

19. 2022-04-22
    status Pending 122-char remark

    Show marketing remark (122 chars)

    Partially started rehab. Come finish this home. Potential 3 bed 2.5 bath. Tons of potential. Home is being sold AS-IS.

20. 2022-04-21
    soldstatus $85,000 Closed 122-char remark

    Show marketing remark (122 chars)

    Partially started rehab. Come finish this home. Potential 3 bed 2.5 bath. Tons of potential. Home is being sold AS-IS.

21. 2022-02-11
    status Active 122-char remark

    Show marketing remark (122 chars)

    Partially started rehab. Come finish this home. Potential 3 bed 2.5 bath. Tons of potential. Home is being sold AS-IS.

22. 2022-01-27
    status Pending 122-char remark

    Show marketing remark (122 chars)

    Partially started rehab. Come finish this home. Potential 3 bed 2.5 bath. Tons of potential. Home is being sold AS-IS.

23. 2022-01-25
    listed $97,000 Active 122-char remark

    Show marketing remark (122 chars)

    Partially started rehab. Come finish this home. Potential 3 bed 2.5 bath. Tons of potential. Home is being sold AS-IS.

24. 2021-12-11
    historical
25. 2021-11-16
    status Active
26. 2021-11-16
    price $103,000
27. 2021-11-12
    status Pending
28. 2021-11-06
    listed $110,000 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: $1,969 · $164/mo
• Projected year-2 tax: $1,969 · $164/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 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: $19,401
• − Mortgage interest: −$7,276
• − Property taxes: −$1,969
• − Insurance: −$650
• − Repairs & maintenance: −$1,552
• − Management: −$1,552
• − Depreciation: −$3,779
• Taxable income: $2,623
• Est. tax owed @ 24.0%: −$630
• After-tax cash flow: $3,904/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

+22.7% since first listed

15 events — show timeline

• 2026-04-03 Price Changed $135,000 MIBOR as Distributed by MLS Grid
• 2026-03-19 Price Changed $137,500 MIBOR as Distributed by MLS Grid
• 2026-02-22 Relisted — MIBOR as Distributed by MLS Grid
• 2026-02-22 Pending — MIBOR as Distributed by MLS Grid
• 2026-02-17 Listed $140,000 MIBOR as Distributed by MLS Grid
• 2022-04-22 Pending — MIBOR as Distributed by MLS Grid
• 2022-04-21 Sold (MLS) $85,000 MIBOR as Distributed by MLS Grid
• 2022-02-11 Relisted — MIBOR as Distributed by MLS Grid
• 2022-01-27 Pending — MIBOR as Distributed by MLS Grid
• 2022-01-25 Listed $97,000 MIBOR as Distributed by MLS Grid
• 2021-12-11 Listing Removed — MIBOR as Distributed by MLS Grid
• 2021-11-16 Relisted — MIBOR as Distributed by MLS Grid
• 2021-11-16 Price Changed $103,000 MIBOR as Distributed by MLS Grid
• 2021-11-12 Pending — MIBOR as Distributed by MLS Grid
• 2021-11-06 Listed $110,000 MIBOR as Distributed by MLS Grid

Property tax history

+20.1%/yr

Latest (2025): $1,969 · +4.8% YoY. Source: county tax records.