1901 N Holmes Ave · Indianapolis city (balance), IN 46222

$50,000

3 bd · 1.5 ba · 1,069 sqft · SingleFamily public records · 51 Days on market

Built 1947 4,879 sqft lot $47/sqft · 38% below area

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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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Rent growth +3.1/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.4/10.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to this 3-bedroom home located in Westminster Park. Situated on a corner lot, this property offers added space and flexibility for outdoor enjoyment. Inside, you'll find hardwood flooring that adds warmth and character throughout the main living areas. The functional layout provides comfortable living with ample natural light. The home also features a full basement, offering excellent potential for additional living space, storage, or customization to suit your needs. A detached garage adds convenience and functionality. With some updates and improvements, this property presents a great opportunity to make it your own.

Key facts

• Hardwood flooring
• Full basement
• Corner lot

Tags

• CORNER LOT
• HARDWOOD FLOORING
• FULL BASEMENT
• DETACHED GARAGE

Property features AI

Exterior

• Parking: Detached garage (1 car, ~240 sq ft)
• Utilities: Public water; Municipal sewer connected; Electricity connected (100 amp service); Natural gas available; Water connected; Sewer connected
• Home design: Single-family residence; One level; Residential property with a view; Fixer condition; Faces west
• Construction: Vinyl siding; Concrete perimeter foundation
• Exterior features: Porch; Corner lot with sidewalks and mature trees; Fence (complete)

Interior

• Kitchen: Kitchen on main level
• Bedrooms: 3 bedrooms on the main level (examples: 13x8, 12x12, 16x11)
• Flooring: Hardwood floors
• Bathrooms: 1 full bathroom (main); 1 half bathroom (basement)
• Heating & cooling: Forced air heating (natural gas); Central air conditioning
• Interior features: Hardwood floors; Supplemental storage; Great room; Dining room; Family room; Bonus room; Utility room
• Laundry & utility: Laundry located in the basement; Utility room in basement

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $50k.

Deal economics

• At list price, monthly cash flow is $582 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $50k).
• Recommended offer: $48k (3.0% below list) — sets the bar for market timing.
• Cap rate 20.3% 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: George Washington High School (math 2% / reading 17%, grade F, #366 of 369 statewide, top 99%, 753 students, 68% FRL).
• Market conditions: Rents rising (+2.5%/yr); 170 active listings in the ZIP; 37 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 1,906 units permitted in Marion County in 2024 (621 in 5+ unit buildings).
• This rent runs 30% of the median local income ($51k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $346 of loan paydown is wiped out by about $2k 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 + 2.5% rent growth), your $14k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 51 days — a 3% lower offer ($48k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: property tax is 3.5% of price; built in 1947 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $48,500 (3.0% below list)

Questions for the listing agent

1. It's been on market 51 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1947 — 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. 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: 2.56% ✓
• Cap rate: 20.27%
• Cash-on-cash: 49.91%
• DSCR: 3.22
• GRM: 3.3

CMA / ARV

• ARV (median comp): $161,764
• List price: $50,000
• Delta: -69.09%
• 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
1434 Winfield Ave	0.37mi	2/1.0 (-1)	1,080 (+1%)	3mo	$99,000	$92	72
1446 N Mount St	0.36mi	2/2.0 (-1)	1,140 (+7%)	4mo	$173,000	$152	62
1201 N Mount St	0.55mi	3/2.0	1,158 (+8%)	1mo	$229,000	$198	58
1405 N Mount St	0.43mi	2/1.0 (-1)	1,140 (+7%)	6mo	$90,000	$79	57
3201 W 22nd St	0.46mi	4/1.5 (+1)	995 (-7%)	8mo	$183,500	$184	55
1148 N Pershing Ave	0.63mi	2/1.0 (-1)	1,086 (+2%)	8mo	$112,500	$104	54
1163 N Mount St	0.57mi	3/2.0	1,201 (+12%)	2mo	$233,000	$194	49
1049 N Tremont St N	0.72mi	2/1.0 (-1)	1,084 (+1%)	9mo	$125,000	$115	49
2228 N Moreland Ave	0.59mi	3/1.0	1,165 (+9%)	8mo	$90,500	$78	49
2507 Winfield Ave	0.75mi	3/1.5	1,152 (+8%)	6mo	$156,000	$135	47
1106 N Tremont St	0.67mi	2/1.0 (-1)	1,182 (+11%)	7mo	$55,000	$47	38
1715 N Alton Ave	0.65mi	2/1.0 (-1)	924 (-14%)	6mo	$80,000	$87	35

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 · 2.46% rent growth · sell at horizon

5-year hold

• IRR: 47.0%
• Equity multiple: 3.03×
• Total profit: $28,361
• Equity at exit: $7,455

10-year hold

• IRR: 52.5%
• Equity multiple: 5.99×
• Total profit: $69,927
• Equity at exit: $4,323

Cash invested: $14,000 (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 46222

• Home prices YoY: -16.7%
• Rents YoY: 2.5%
• Active inventory: 170
• Price-to-rent: 3.3×

Monthly cashflow live

• Estimated rent: $1,281 high
• Mortgage (P&I): −$262
• Tax from tax record: −$146 /mo · $1,757/yr
• Insurance: −$21
• HOA: −$0
• Vacancy / Maint / Mgmt: −$269
• Net cashflow: $582

Break-even live

Break-even rent $544

Max offer price $50,000

Occupancy floor 50%

Sensitivity live

Price	-10% $611	-5% $596	+0% $582	+5% $568	+10% $554
Rent	-10% $481	-5% $532	+0% $582	+5% $633	+10% $683
Rate	-1.0pp $607	-0.5pp $595	base $582	+0.5pp $569	+1.0pp $556

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: $12,500
• Closing costs: $1,500
• Reserves months: —
• Total cash needed: —

Rent comps 37 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2701 W 17th St Indianapolis, IN	2.0	1.0	810	$899	$1.11	8d	1	0.23mi
2106 Cold Spring Rd Indianapolis, IN	2.0	1.0–1.5	940	$1,189	$1.26	3d	4	0.28mi
2011 N Kessler Boulevard Dr Indianapolis, IN	3.0	1.0	888	$1,375	$1.55	24d	1	0.33mi
1409 N Warman Ave Indianapolis, IN	2.0	1.0	816	$1,300	$1.59	21d	1	0.40mi
1155 N Holmes Ave Indianapolis, IN	3.0	1.0	952	$2,800	$2.94	3d	1	0.55mi
2602 Mansion Dr Indianapolis, IN	2.0–3.0	2.0	1850	$1,675	$0.91	8d	6	0.71mi
2365 N Goodlet Ave Indianapolis, IN	3.0	1.5	900	$1,099	$1.22	24d	1	0.71mi
2418 N Centennial St Indianapolis, IN	2.0	1.0	725	$1,099	$1.52	44d	1	0.77mi
1023 N Pershing Ave Indianapolis, IN	3.0	1.5	1182	$1,350	$1.14	24d	1	0.80mi
3014 W 10th St Indianapolis, IN	2.0	1.0	850	$749	$0.88	44d	1	0.80mi
3014 W 10th St Unit 1 Indianapolis, IN	2.0	1.0	850	$749	$0.88	24d	1	0.80mi
3621 Lawnview Ln Indianapolis, IN	1.0–4.0	1.0–1.5	1012	$1,162	$1.15	2d	13	0.92mi
955 N Traub Ave Indianapolis, IN	3.0	2.0	1300	$1,449	$1.11	44d	1	0.95mi
771 Haugh St Indianapolis, IN	2.0	1.0	714	$1,250	$1.75	20d	1	0.95mi
1150 N White River Pkwy West Dr Indianapolis, IN	1.0–2.0	1.0	722	$1,224	$1.69	2d	9	0.98mi
1415 W Pruitt St Indianapolis, IN	3.0	1.0	1001	$1,249	$1.25	24d	1	0.99mi
1621 N Livingston Ave Indianapolis, IN	3.0	1.0	952	$1,300	$1.37	24d	1	1.00mi
2248 N Harding St Indianapolis, IN	2.0	1.0	1100	$899	$0.82	24d	1	1.03mi
1920 Sugar Grove Ave Indianapolis, IN	3.0	1.5	1378	$1,175	$0.85	3d	1	1.05mi
1367 W Pruitt St Indianapolis, IN	3.0	1.0	1088	$1,450	$1.33	44d	1	1.06mi
2825 N Kessler Boulevard Dr Indianapolis, IN	3.0	1.5	1228	$1,701	$1.39	24d	1	1.07mi
1228 W 18th St Indianapolis, IN	2.0	1.0	1050	$1,200	$1.14	44d	1	1.10mi
1410 Breedlove Ln Indianapolis, IN	2.0	1.0–2.0	886	$2,557	$2.88	2d	63	1.12mi
3531 Garden Ave Indianapolis, IN	3.0	1.0	1264	$1,200	$0.95	24d	1	1.21mi
3531 Garden Ave Indianapolis, IN	3.0	1.0	1264	$1,200	$0.95	44d	1	1.21mi
525 N Belmont Ave Indianapolis, IN	3.0	1.0	912	$1,225	$1.34	24d	1	1.23mi
1135 W 21st St Indianapolis, IN	3.0	2.0	1296	$1,495	$1.15	24d	1	1.23mi
1133 W 21st St Indianapolis, IN	3.0	2.0	1296	$1,495	$1.15	24d	1	1.23mi
1519 W 28th St Indianapolis, IN	2.0	1.0	816	$895	$1.10	44d	1	1.26mi
925 N Somerset Ave Indianapolis, IN	3.0	1.0	1061	$1,300	$1.23	8d	1	1.26mi
1244 Edgemont Ave Indianapolis, IN	2.0	1.0	1092	$1,275	$1.17	44d	1	1.29mi
2930 Lafayette Rd Indianapolis, IN	2.0	1.0	642	$1,108	$1.72	2d	5	1.35mi
1449 Montcalm St Indianapolis, IN	3.0	1.0	1300	$1,900	$1.46	44d	1	1.37mi
1911 Wilcox St Indianapolis, IN	2.0	1.0	896	$1,150	$1.28	44d	1	1.39mi
411 N Centennial St Indianapolis, IN	2.0	1.0	750	$995	$1.33	8d	1	1.41mi
1201 Indiana Ave Indianapolis, IN	1.0–3.0	1.0–3.5	967	$2,404	$2.49	2d	36	1.42mi
460 N White River Parkway Dr W Indianapolis, IN	2.0	1.0	681	$1,725	$2.53	3d	14	1.45mi

Listing history 15 events

1. 2026-06-18
   status $50,000 Pending 51 DOM
2. 2026-06-18
   days on market $50,000 Active 51 DOM
3. 2026-06-17
   days on market $50,000 Active 50 DOM
4. 2026-06-16
   days on market $50,000 Active 49 DOM
5. 2026-06-15
   days on market $50,000 Active 48 DOM
6. 2026-06-13
   days on market $50,000 Active 46 DOM
7. 2026-06-13
   days on market $50,000 Active 45 DOM
8. 2026-06-09
   days on market $50,000 Active 42 DOM
9. 2026-06-08
   days on market $50,000 Active 41 DOM
10. 2026-06-07
    days on market $50,000 Active 40 DOM
11. 2026-06-03
    days on market $50,000 Active 36 DOM
12. 2026-06-02
    days on market $50,000 Active 35 DOM
13. 2026-06-01
    days on market $50,000 Active 34 DOM
14. 2026-05-31
    days on market $50,000 Active 33 DOM
15. 2026-04-28
    listed $50,000 Active 634-char remark

ⓘ 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: $1,757 · $146/mo
• Projected year-2 tax: $1,757 · $146/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: $15,368
• − Mortgage interest: −$2,801
• − Property taxes: −$1,757
• − Insurance: −$250
• − Repairs & maintenance: −$1,229
• − Management: −$1,229
• − Depreciation: −$1,455
• Taxable income: $6,647
• Est. tax owed @ 24.0%: −$1,595
• After-tax cash flow: $5,392/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): 38,887
• Household income: $50,783
• Rent vs Own: 51.7% rent · 48.3% own
• Severe rent burden: 1750.0

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: Highly diverse neighborhood (Simpson 0.72)
• Race & ethnicity: White 32% Black 30% Hispanic / Latino 30% Two or more races 12% Asian 2%
• Hispanic origin (detail): Mexican 24% Puerto Rican 1%
• Common ancestry: Lithuanian 1% Iranian 1% Slovak 1%
• Foreign-born: 21% · Canada, Jamaica
• Languages at home: 67% English-only · Spanish 25% Other Indo-European 3% Arabic 2%

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: ▼ -75.47%
• Current HPI: 375.8479
• 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

2 events — show timeline

• 2026-06-18 Pending — MIBOR as Distributed by MLS Grid
• 2026-04-28 Listed $50,000 MIBOR as Distributed by MLS Grid

Property tax history

+42.0%/yr

Latest (2025): $1,757 · +41.5% YoY. Source: county tax records.