3914 Richelieu Rd · Indianapolis city (balance), IN 46226

$139,900

3 bd · 1.0 ba · 999 sqft · SingleFamily public records · 26 Days on market

Built 1966 6,839 sqft lot $140/sqft · 20% below area Est $176k · 20% under

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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 +17.1/30.0
• ARV discount +15.0/15.0
• DSCR +5.3/10.0
• 1% rule +5.0/10.0
• 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

THIS IS A WELL MAINTAINED BRICK RANCH HOME READY TO MOVE INTO. THE LIVING ROOM HAS A TILED ENTRYWAY AND LARGE WINDOW. FRESHLY PAINTED THROUGHOUT, BED ROOMS DECORATED WITH BORDERS. THE BATHROOMS HAS BEEN COMPLETELY REMO DELED WITH NEW TUB AND WALL SURROUND, NEW SINK AND VANITY. KITCHEN HAS BREAKFAST BAR AND PANTRY, BREAKFAST NOOK W/CEILING FAN AND LIGHT. SELLER TO GIVE BUY ER $1500 CARPET ALLOW. OR $1500 TOWARDS CLOSING FEES W/FULL PRIC E OFFER.

Key facts

• Private backyard
• Central kitchen
• Mid-century exterior

Tags

• MID-CENTURY EXTERIOR
• CENTRAL KITCHEN
• DEDICATED DINING AREA
• PRIVATE BACKYARD
• MATURE TREES
• QUIET RESIDENTIAL SETTING

Property features AI

Finance

• Other: Lot size approximately 0.16 acres (<1/4 acre)

Exterior

• Parking: Attached garage with garage door opener; 1 garage space (garage ~324 sq ft)
• Security: Smoke detector(s)
• Utilities: Public water; Municipal sewer connected; Solid waste service available
• Home design: Single-family residence; One-story; Residential property
• Construction: Brick construction; Crawl space foundation
• Exterior features: Storage shed

Interior

• Kitchen: Electric oven; Range hood; Refrigerator
• Bedrooms: 3 bedrooms (all on main level): Bedroom 2 — 10x11; Bedroom 3 — 9x11
• Bathrooms: 1 full bathroom (main level)
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: Breakfast bar; Living room (main) — 13x14; Dining room (main) — 10x12; Kitchen (main) — 9x11; Additional main-level room — 10x14

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $140k.

Deal economics

• At list price, monthly cash flow is $97 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $140k).
• Recommended offer: $138k (1.5% below list) — sets the bar for market timing.
• Cap rate 7.1% 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.
• Zoned schools: Charles Warren Fairbanks Sch 105 (math 2% / reading 8%, grade F, #970 of 994 statewide, top 99%, 313 students, 78% FRL); Arsenal Technical High School (math 6% / reading 27%, grade F, #353 of 369 statewide, top 96%, 2,366 students, 74% FRL) — zoned schools at 76% FRL track the district average.
• Market conditions: Rents rising fast (+6.8%/yr); 151 active listings in the ZIP; 20 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 33% 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 $967 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 26 days — a 2% lower offer ($138k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 24y 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 $63k; list at $140k implies a 122% gain — meaningful room to come down on a strong offer.

Recommended offer $137,801 (1.5% below list)

Questions for the listing agent

1. Built in 1966 — 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: 1.00% ✓
• Cap rate: 7.13%
• Cash-on-cash: 2.99%
• DSCR: 1.13
• GRM: 8.3

CMA / ARV

• ARV (median comp): $175,859
• List price: $139,900
• Delta: -20.45%
• 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
3930 Chateau Dr	0.13mi	3/1.0	1,073 (+7%)	1mo	$99,000	$92	80
3733 Harvest Ave	0.25mi	3/1.0	1,055 (+6%)	7mo	$119,500	$113	73
3938 Biscayne Rd	0.30mi	3/1.0	925 (-7%)	0mo	$132,000	$143	73
8724 Montery Rd	0.31mi	3/1.0	925 (-7%)	2mo	$134,900	$146	71
8242 E 42nd St	0.40mi	3/1.5	936 (-6%)	2mo	$165,000	$176	67
3965 Alsace Pl	0.12mi	3/1.0	864 (-14%)	9mo	$189,000	$219	64
8340 E 41st Pl	0.32mi	3/1.0	864 (-14%)	1mo	$140,000	$162	62
4132 Biscayne Rd	0.47mi	3/1.0	1,073 (+7%)	5mo	$104,900	$98	62
8246 E 41st Pl	0.35mi	3/1.0	864 (-14%)	1mo	$120,500	$139	61
4054 Arborcrest Dr	0.28mi	4/1.0 (+1)	1,098 (+10%)	8mo	$170,000	$155	58
8138 E 34th Pl	0.62mi	2/1.0 (-1)	1,025 (+3%)	5mo	$145,000	$141	57
3525 Lombardy Pl	0.50mi	4/2.0 (+1)	1,047 (+5%)	7mo	$180,000	$172	54

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: -7.3%
• Equity multiple: 0.72×
• Total profit: $-10,906
• Equity at exit: $20,860

10-year hold

• IRR: 6.7%
• Equity multiple: 1.59×
• Total profit: $23,112
• Equity at exit: $12,096

Cash invested: $39,172 (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: 8.3×

Monthly cashflow live

• Estimated rent: $1,403 high
• Mortgage (P&I): −$734
• Tax from tax record: −$219 /mo · $2,625/yr
• Insurance: −$58
• HOA: −$0
• Vacancy / Maint / Mgmt: −$295
• Net cashflow: $97

Break-even live

Break-even rent $1,279

Max offer price $139,900

Occupancy floor 88%

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: $34,975
• Closing costs: $4,197
• Reserves months: —
• Total cash needed: —

Rent comps 20 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3938 Biscayne Rd Indianapolis, IN	3.0	1.0	1000	$1,895	$1.90	3d	1	0.29mi
8724 Montery Rd Indianapolis, IN	3.0	1.0	925	$1,500	$1.62	44d	1	0.31mi
3809 Biscayne Rd Indianapolis, IN	2.0	1.5	992	$1,020	$1.03	15d	1	0.31mi
8862 Bel Air Ct Indianapolis, IN	3.0	1.0	1073	$1,264	$1.18	18d	1	0.38mi
7925 Crossbridge Dr Indianapolis, IN	2.0	2.0	1072	$1,200	$1.12	44d	1	0.48mi
3631 Decamp Dr Indianapolis, IN	3.0	1.0	1000	$1,335	$1.33	24d	1	0.49mi
4315 Aspen Way Indianapolis, IN	3.0	1.0	1080	$1,380	$1.28	44d	1	0.53mi
7975 Red Mill Dr Indianapolis, IN	2.0	1.0	576	$975	$1.69	44d	1	0.56mi
9060 E 39th Pl Indianapolis, IN	1.0–2.0	1.0–1.5	820	$1,040	$1.27	24d	1	0.62mi
9226 E 36th Pl Indianapolis, IN	3.0	1.0	1073	$1,250	$1.16	8d	1	0.86mi
7838 Ridgewood Dr Indianapolis, IN	3.0	2.0	936	$1,540	$1.65	44d	1	0.95mi
7838 Ridgewood Dr Indianapolis, IN	3.0	2.0	936	$1,540	$1.65	24d	1	0.95mi
9438 Conried Dr Indianapolis, IN	3.0	1.0	1094	$1,445	$1.32	4d	1	0.96mi
3525 Luewan Ct Indianapolis, IN	4.0	1.0	1107	$1,750	$1.58	24d	1	1.04mi
3226 Wellington Ave Indianapolis, IN	3.0	1.0	900	$1,149	$1.28	11d	1	1.05mi
3519 Jerome Ct Indianapolis, IN	4.0	1.0	1107	$1,995	$1.80	24d	1	1.09mi
3962 Strathmore Dr Indianapolis, IN	3.0	1.0	925	$1,250	$1.35	24d	1	1.26mi
3775 Allerton Pl Indianapolis, IN	1.0–4.0	2.0	1068	$1,617	$1.51	14d	1	1.27mi
7171 Twin Oaks Dr Indianapolis, IN	3.0	1.0–1.5	801	$1,399	$1.75	24d	9	1.36mi
3900 N Shadeland Ave Indianapolis, IN	1.0–2.0	1.0	1070	$1,075	$1.00	3d	6	1.49mi

Listing history 3 events

1. 2026-04-23
   listed $139,900 Active 768-char remark
2. 2002-05-03
   soldstatus $63,000 449-char remark

   Show marketing remark (449 chars)

   THIS IS A WELL MAINTAINED BRICK RANCH HOME READY TO MOVE INTO. THE LIVING ROOM HAS A TILED ENTRYWAY AND LARGE WINDOW. FRESHLY PAINTED THROUGHOUT, BED ROOMS DECORATED WITH BORDERS. THE BATHROOMS HAS BEEN COMPLETELY REMO DELED WITH NEW TUB AND WALL SURROUND, NEW SINK AND VANITY. KITCHEN HAS BREAKFAST BAR AND PANTRY, BREAKFAST NOOK W/CEILING FAN AND LIGHT. SELLER TO GIVE BUY ER $1500 CARPET ALLOW. OR $1500 TOWARDS CLOSING FEES W/FULL PRIC E OFFER.

3. 2002-01-09
   listed $63,000 449-char remark

   Show marketing remark (449 chars)

   THIS IS A WELL MAINTAINED BRICK RANCH HOME READY TO MOVE INTO. THE LIVING ROOM HAS A TILED ENTRYWAY AND LARGE WINDOW. FRESHLY PAINTED THROUGHOUT, BED ROOMS DECORATED WITH BORDERS. THE BATHROOMS HAS BEEN COMPLETELY REMO DELED WITH NEW TUB AND WALL SURROUND, NEW SINK AND VANITY. KITCHEN HAS BREAKFAST BAR AND PANTRY, BREAKFAST NOOK W/CEILING FAN AND LIGHT. SELLER TO GIVE BUY ER $1500 CARPET ALLOW. OR $1500 TOWARDS CLOSING FEES W/FULL PRIC E OFFER.

ⓘ 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: $2,625 · $219/mo
• Projected year-2 tax: $2,625 · $219/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: $16,833
• − Mortgage interest: −$7,837
• − Property taxes: −$2,625
• − Insurance: −$700
• − Repairs & maintenance: −$1,347
• − Management: −$1,347
• − Depreciation: −$4,070
• Taxable loss: −$1,091
• Est. tax savings @ 24.0%: +$262
• After-tax cash flow: $1,432/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

+122.1% since first listed

4 events — show timeline

• 2026-05-19 Pending — MIBOR as Distributed by MLS Grid
• 2026-04-23 Listed $139,900 MIBOR as Distributed by MLS Grid
• 2002-05-03 Sold (MLS) $63,000 MIBOR as Distributed by MLS Grid
• 2002-01-09 Listed $63,000 MIBOR as Distributed by MLS Grid

Property tax history

+11.9%/yr

Latest (2025): $2,625 · +25.0% YoY. Source: county tax records.