8441 E 42nd Pl · Indianapolis city (balance), IN 46226

$134,900

3 bd · 1.0 ba · 1,008 sqft · SingleFamily public records · 58 Days on market

Built 1962 6,839 sqft lot $134/sqft · at area comps Est $141k · at est.

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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 +20.7/30.0
• ARV discount +9.4/15.0
• DSCR +6.6/10.0
• 1% rule +5.4/10.0
• Rent growth +4.2/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.4/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Step right up, folks, and feast your eyes on a charming single-family residence. This inviting home, spanning a cozy 1008 square feet, is absolutely ready for its next adventure with you. With a 2 year old HVAC, kitchen floors, and dishwasher this house is a canvas for you to complete! With three delightful bedrooms, there's ample space for slumber parties, epic pillow forts, or even a dedicated creative nook. And when the day's fun is done, a single full bathroom is on hand to help you scrub up and get ready for tomorrow's escapades. This one-story ranch-style abode is a masterclass in easy living, offering a flowing layout that's perfect for both quiet evenings and lively gatherings. Plus, with an attached garage, your car will always have a comfy spot out of the elements. All this fun is just begging for backyard barbecues and maybe even a slip-n-slide with plenty of room to spare! So, what are you waiting for? Come on over and discover the joy of making this playful pad your very own! Welcome Home!

Key facts

• 6,839 sq ft lot
• Garage
• Built 1962

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $135k.

Deal economics

• At list price, monthly cash flow is $183 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $135k).
• Recommended offer: $131k (3.0% below list) — sets the bar for market timing.
• Cap rate 7.9% 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.
• 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 rising fast (+6.8%/yr); 151 active listings in the ZIP; 35 comparable units currently listed for rent nearby; rentals at typical pace (median 23d 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 34% of the median local income ($50k/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 $933 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.
• At projected returns (-3.0% appreciation + 6.8% rent growth), your $38k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 58 days — a 3% lower offer ($131k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 5y ago; this cycle's ask has dropped $15k (10%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $105k; 28% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Recommended offer $130,853 (3.0% below list)

Questions for the listing agent

1. It's been on market 58 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 1962 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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: 1.04% ✓
• Cap rate: 7.92%
• Cash-on-cash: 5.80%
• DSCR: 1.26
• GRM: 8.0

CMA / ARV

• ARV (median comp): $140,787
• List price: $134,900
• Delta: -4.18%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
8242 E 42nd St	0.19mi	3/1.5	936 (-7%)	2mo	$165,000	$176	76
3930 Chateau Dr	0.38mi	3/1.0	1,073 (+6%)	1mo	$99,000	$92	71
8340 E 41st Pl	0.13mi	3/1.0	864 (-14%)	1mo	$140,000	$162	69
8724 Montery Rd	0.33mi	3/1.0	925 (-8%)	2mo	$134,900	$146	69
4132 Biscayne Rd	0.36mi	3/1.0	1,073 (+6%)	5mo	$104,900	$98	69
8246 E 41st Pl	0.21mi	3/1.0	864 (-14%)	1mo	$120,500	$139	66
3938 Biscayne Rd	0.44mi	3/1.0	925 (-8%)	0mo	$132,000	$143	65
4054 Arborcrest Dr	0.30mi	4/1.0 (+1)	1,098 (+9%)	8mo	$170,000	$155	59
3733 Harvest Ave	0.62mi	3/1.0	1,055 (+5%)	7mo	$119,500	$113	58
3965 Alsace Pl	0.33mi	3/1.0	864 (-14%)	9mo	$189,000	$219	53
4138 Balboa Dr	0.22mi	4/2.0 (+1)	1,149 (+14%)	8mo	$150,000	$131	51
8136 E 37th Pl	0.64mi	3/1.5	1,093 (+8%)	10mo	$197,000	$180	46

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 · 6.76% rent growth · sell at horizon

5-year hold

• IRR: -3.2%
• Equity multiple: 0.88×
• Total profit: $-4,676
• Equity at exit: $20,114

10-year hold

• IRR: 10.3%
• Equity multiple: 1.94×
• Total profit: $35,513
• Equity at exit: $11,664

Cash invested: $37,772 (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 46226

• Rents YoY: 6.8%
• Active inventory: 151
• Price-to-rent: 8.0×

Monthly cashflow live

• Estimated rent: $1,409 high
• Mortgage (P&I): −$707
• Tax from tax record: −$167 /mo · $2,000/yr
• Insurance: −$56
• HOA: −$0
• Vacancy / Maint / Mgmt: −$296
• Net cashflow: $183

Break-even live

Break-even rent $1,178

Max offer price $134,900

Occupancy floor 82%

Sensitivity live

Price	-10% $259	-5% $221	+0% $183	+5% $144	+10% $106
Rent	-10% $71	-5% $127	+0% $183	+5% $238	+10% $294
Rate	-1.0pp $251	-0.5pp $217	base $183	+0.5pp $148	+1.0pp $112

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: $33,725
• Closing costs: $4,047
• Reserves months: —
• Total cash needed: —

Rent comps 35 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
8501 Athens Ct Indianapolis, IN	4.0	1.0	1225	$1,475	$1.20	15d	1	0.05mi
4315 Aspen Way Indianapolis, IN	3.0	1.0	1080	$1,380	$1.28	44d	1	0.12mi
8254 Meadowlark Dr Indianapolis, IN	3.0	1.5	1320	$1,150	$0.87	22d	1	0.23mi
8254 Meadowlark Dr Unit 1 Indianapolis, IN	3.0	1.5	1320	$1,150	$0.87	44d	1	0.23mi
8724 Montery Rd Indianapolis, IN	3.0	1.0	925	$1,500	$1.62	44d	1	0.35mi
8738 Montery Rd Indianapolis, IN	3.0	1.0	1421	$1,396	$0.98	8d	1	0.36mi
3938 Biscayne Rd Indianapolis, IN	3.0	1.0	1000	$1,895	$1.90	3d	1	0.45mi
8914 Elmonte Dr Indianapolis, IN	3.0	1.5	1500	$1,600	$1.07	24d	1	0.49mi
8862 Bel Air Ct Indianapolis, IN	3.0	1.0	1073	$1,264	$1.18	18d	1	0.52mi
3829 Biscayne Rd Indianapolis, IN	4.0	1.5	1188	$1,320	$1.11	15d	1	0.56mi
3823 Biscayne Rd Indianapolis, IN	4.0	1.5	1188	$1,320	$1.11	15d	1	0.57mi
3821 Biscayne Rd Indianapolis, IN	4.0	1.5	1188	$1,325	$1.12	15d	1	0.57mi
3815 Biscayne Rd Indianapolis, IN	3.0	1.5	1188	$1,220	$1.03	15d	1	0.59mi
3809 Biscayne Rd Indianapolis, IN	2.0	1.5	992	$1,020	$1.03	15d	1	0.60mi
7925 Crossbridge Dr Indianapolis, IN	2.0	2.0	1072	$1,200	$1.12	44d	1	0.63mi
9060 E 39th Pl Indianapolis, IN	1.0–2.0	1.0–1.5	820	$1,040	$1.27	24d	1	0.68mi
7975 Red Mill Dr Indianapolis, IN	2.0	1.0	576	$975	$1.69	44d	1	0.72mi
8203 Penway St Indianapolis, IN	3.0	1.5	1360	$1,500	$1.10	24d	1	0.77mi
3631 Decamp Dr Indianapolis, IN	3.0	1.0	1000	$1,335	$1.33	24d	1	0.84mi
3540 Dubarry Ct Indianapolis, IN	3.0	2.0	1297	$1,400	$1.08	24d	1	0.91mi
9438 Conried Dr Indianapolis, IN	3.0	1.0	1094	$1,445	$1.32	5d	1	0.95mi
3513 Roseway Dr Indianapolis, IN	3.0	2.0	1216	$1,600	$1.32	18d	1	1.00mi
3747 Ireland Dr Indianapolis, IN	4.0	1.5	1400	$1,700	$1.21	24d	1	1.05mi
7531 Penway St Indianapolis, IN	3.0	1.5	1237	$1,551	$1.25	8d	1	1.08mi
9226 E 36th Pl Indianapolis, IN	3.0	1.0	1073	$1,250	$1.16	8d	1	1.11mi
7937 E 34th St Indianapolis, IN	4.0	1.0	1450	$2,000	$1.38	24d	1	1.15mi
3962 Strathmore Dr Indianapolis, IN	3.0	1.0	925	$1,250	$1.35	24d	1	1.27mi
3525 Luewan Ct Indianapolis, IN	4.0	1.0	1107	$1,750	$1.58	24d	1	1.29mi
7838 Ridgewood Dr Indianapolis, IN	3.0	2.0	936	$1,540	$1.65	44d	1	1.31mi
7838 Ridgewood Dr Indianapolis, IN	3.0	2.0	936	$1,540	$1.65	24d	1	1.31mi
3519 Jerome Ct Indianapolis, IN	4.0	1.0	1107	$1,995	$1.80	24d	1	1.33mi
3775 Allerton Pl Indianapolis, IN	1.0–4.0	2.0	1068	$1,617	$1.51	14d	1	1.40mi
3226 Wellington Ave Indianapolis, IN	3.0	1.0	900	$1,149	$1.28	11d	1	1.41mi
9949 Ellis Dr Indianapolis, IN	4.0	2.0	1421	$1,580	$1.11	3d	1	1.42mi
9962 Catalina Dr Indianapolis, IN	3.0	1.0	1236	$1,600	$1.29	4d	1	1.46mi

Listing history 19 events

1. 2026-06-19
   status $134,900 Pending 58 DOM
2. 2026-06-18
   days on market $134,900 Active 58 DOM
3. 2026-06-17
   days on market $134,900 Active 57 DOM
4. 2026-06-16
   days on market $134,900 Active 56 DOM
5. 2026-06-15
   days on market $134,900 Active 55 DOM
6. 2026-06-13
   days on market $134,900 Active 53 DOM
7. 2026-06-13
   pricedays on market $134,900 Active 52 DOM
8. 2026-06-09
   days on market $139,000 Active 49 DOM
9. 2026-06-08
   days on market $139,000 Active 48 DOM
10. 2026-06-07
    days on market $139,000 Active 47 DOM
11. 2026-06-03
    days on market $139,000 Active 43 DOM
12. 2026-06-02
    days on market $139,000 Active 42 DOM
13. 2026-06-01
    days on market $139,000 Active 41 DOM
14. 2026-05-31
    days on market $139,000 Active 40 DOM
15. 2026-05-16
    price $139,000 1017-char remark

    Show marketing remark (1017 chars)

    Step right up, folks, and feast your eyes on a charming single-family residence. This inviting home, spanning a cozy 1008 square feet, is absolutely ready for its next adventure with you. With a 2 year old HVAC, kitchen floors, and dishwasher this house is a canvas for you to complete! With three delightful bedrooms, there's ample space for slumber parties, epic pillow forts, or even a dedicated creative nook. And when the day's fun is done, a single full bathroom is on hand to help you scrub up and get ready for tomorrow's escapades. This one-story ranch-style abode is a masterclass in easy living, offering a flowing layout that's perfect for both quiet evenings and lively gatherings. Plus, with an attached garage, your car will always have a comfy spot out of the elements. All this fun is just begging for backyard barbecues and maybe even a slip-n-slide with plenty of room to spare! So, what are you waiting for? Come on over and discover the joy of making this playful pad your very own! Welcome Home!

16. 2026-04-21
    listed $149,900 Active 1017-char remark

    Show marketing remark (1017 chars)

    Step right up, folks, and feast your eyes on a charming single-family residence. This inviting home, spanning a cozy 1008 square feet, is absolutely ready for its next adventure with you. With a 2 year old HVAC, kitchen floors, and dishwasher this house is a canvas for you to complete! With three delightful bedrooms, there's ample space for slumber parties, epic pillow forts, or even a dedicated creative nook. And when the day's fun is done, a single full bathroom is on hand to help you scrub up and get ready for tomorrow's escapades. This one-story ranch-style abode is a masterclass in easy living, offering a flowing layout that's perfect for both quiet evenings and lively gatherings. Plus, with an attached garage, your car will always have a comfy spot out of the elements. All this fun is just begging for backyard barbecues and maybe even a slip-n-slide with plenty of room to spare! So, what are you waiting for? Come on over and discover the joy of making this playful pad your very own! Welcome Home!

17. 2022-01-18
    soldstatus $105,000 Closed 345-char remark

    Show marketing remark (345 chars)

    This home is ready for you to bring your belongings and move right in! This property features fresh paint and new flooring. The oversized one car garage provides it's new owner with plenty of space for storage or a workshop. Enjoy relaxing on the back covered patio overlooking your large fenced in back yard. This is one you won't want to miss!

18. 2021-12-01
    status Pending 345-char remark

    Show marketing remark (345 chars)

    This home is ready for you to bring your belongings and move right in! This property features fresh paint and new flooring. The oversized one car garage provides it's new owner with plenty of space for storage or a workshop. Enjoy relaxing on the back covered patio overlooking your large fenced in back yard. This is one you won't want to miss!

19. 2021-11-22
    listed $109,900 Active 345-char remark

    Show marketing remark (345 chars)

    This home is ready for you to bring your belongings and move right in! This property features fresh paint and new flooring. The oversized one car garage provides it's new owner with plenty of space for storage or a workshop. Enjoy relaxing on the back covered patio overlooking your large fenced in back yard. This is one you won't want to miss!

ⓘ 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: $2,000 · $167/mo
• Projected year-2 tax: $2,000 · $167/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 · 18 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 0% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $16,906
• − Mortgage interest: −$7,556
• − Property taxes: −$2,000
• − Insurance: −$674
• − Repairs & maintenance: −$1,352
• − Management: −$1,352
• − Depreciation: −$3,924
• Taxable income: $45
• Est. tax owed @ 24.0%: −$11
• After-tax cash flow: $2,181/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): 47,099
• Household income: $50,325
• Rent vs Own: 53.8% rent · 46.2% own
• Severe rent burden: 2742.0

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: Black 53% White 25% Hispanic / Latino 17% Two or more races 9% Asian 2%
• Hispanic origin (detail): Mexican 11%
• Common ancestry: Lithuanian 1% Italian 1% Romanian 1%
• Foreign-born: 11% · Canada
• Languages at home: 86% English-only · Spanish 10% French/Haitian/Cajun 1% Other Asian/Pacific 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: ▼ -218.85%
• Current HPI: 239.43
• Rent YoY: ▲ 6.76%
• 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

+26.5% since first listed

5 events — show timeline

• 2026-05-16 Price Changed $139,000 MIBOR as Distributed by MLS Grid
• 2026-04-21 Listed $149,900 MIBOR as Distributed by MLS Grid
• 2022-01-18 Sold (MLS) $105,000 MIBOR as Distributed by MLS Grid
• 2021-12-01 Pending — MIBOR as Distributed by MLS Grid
• 2021-11-22 Listed $109,900 MIBOR as Distributed by MLS Grid

Property tax history

+4.3%/yr

Latest (2025): $2,000 · +165.1% YoY. Source: county tax records.