3724 Tudor Park Dr · Indianapolis city (balance), IN 46235

$80,000

2 bd · 1.5 ba · 1,048 sqft · Condo public records · 38 Days on market

Built 1973 $76/sqft · 16% above area Est $69k · 16% over $250/mo HOA · 17% 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 +26.4/30.0
• 1% rule +10.0/10.0
• DSCR +9.0/10.0
• Rent growth +3.1/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.4/10.0
• ARV discount +0.3/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

Investors take a look!!! Bank owned property with great potential. Property Sold AS-IS. Room sizes are approximate.

Key facts

• Attached garage
• Laundry hookups
• $250 HOA

Tags

• LAUNDRY HOOKUPS
• ATTACHED GARAGE
• HOA FEE INCLUDES WATER

Property features AI

Finance

• Other: Ownership interest: Mandatory fee; Common area interest approximately 0.901% (per legal description); Directions: GPS friendly
• HOA & community: Has HOA; HOA provides grounds maintenance, structure maintenance, and snow removal; HOA fee $250 monthly (includes sewer, lawncare, grounds maintenance, structure maintenance, snow removal)

Exterior

• Parking: Attached and detached garage options; One garage space (garage ~288 sq ft)
• Utilities: Public water; Municipal sewer connection; Cable available; Solid waste: No
• Home design: Residential condominium; Attached property with one common wall; Horizontal condo with private entry; Two stories
• Construction: Brick and wood siding exterior; Slab foundation
• Exterior features: Patio; No fence

Interior

• Kitchen: Electric oven; Refrigerator
• Bedrooms: Two bedrooms on the upper level
• Bathrooms: One full bath (upper level); One half bath (main level)
• Heating & cooling: Natural gas heating; Central air conditioning
• Interior features: Eat-in kitchen; Living room; Dining room; Patio (listed under exterior features but accessible from unit)
• Laundry & utility: Laundry closet with all hookups

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath condo listed at $80k.

Deal economics

• At list price, monthly cash flow is $209 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $80k).
• Recommended offer: $78k (3.0% below list) — sets the bar for market timing.
• Cap rate 9.4% 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 (+2.6%/yr); 54 active listings in the ZIP; 18 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).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $553 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.

Negotiation context

• It's been on market 38 days — a 3% lower offer ($78k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 20y ago; this cycle's ask has dropped $10k (11%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $10k; list at $80k implies a 700% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 3.3% of price.

Recommended offer $77,600 (3.0% below list)

Questions for the listing agent

1. It's been on market 38 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 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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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.
8. 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.
9. 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: 1.79% ✓
• Cap rate: 9.43%
• Cash-on-cash: 11.19%
• DSCR: 1.50
• GRM: 4.7

CMA / ARV

• ARV (median comp): $69,000
• List price: $80,000
• Delta: 15.94%
• Verdict: OVERPRICED
• Comps: 18 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 2.56% rent growth · sell at horizon

5-year hold

• IRR: -0.0%
• Equity multiple: 1.00×
• Total profit: $-42
• Equity at exit: $11,928

10-year hold

• IRR: 9.2%
• Equity multiple: 1.69×
• Total profit: $15,537
• Equity at exit: $6,917

Cash invested: $22,400 (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 46235

• Home prices YoY: -4.3%
• Rents YoY: 2.6%
• Active inventory: 54
• Price-to-rent: 4.7×

Monthly cashflow live

• Estimated rent: $1,434 high
• Mortgage (P&I): −$420
• Tax from tax record: −$221 /mo · $2,650/yr
• Insurance: −$33
• HOA: −$250
• Vacancy / Maint / Mgmt: −$301
• Net cashflow: $209

Break-even live

Break-even rent $1,169

Max offer price $80,000

Occupancy floor 80%

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: $20,000
• Closing costs: $2,400
• Reserves months: —
• Total cash needed: —

Rent comps 18 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
9962 Catalina Dr Indianapolis, IN	3.0	1.0	1236	$1,600	$1.29	4d	1	0.25mi
3962 Strathmore Dr Indianapolis, IN	3.0	1.0	925	$1,250	$1.35	23d	1	0.39mi
10101 Montery Rd Indianapolis, IN	2.0	1.0	627	$1,439	$2.30	1d	10	0.53mi
9226 E 36th Pl Indianapolis, IN	3.0	1.0	1073	$1,250	$1.16	7d	1	0.54mi
9438 Conried Dr Indianapolis, IN	3.0	1.0	1094	$1,445	$1.32	4d	1	0.56mi
3645 Wingate Ct Indianapolis, IN	3.0	1.0–2.0	774	$1,258	$1.62	23d	6	0.67mi
9060 E 39th Pl Indianapolis, IN	1.0–2.0	1.0–1.5	820	$1,040	$1.27	23d	1	0.74mi
3631 Decamp Dr Indianapolis, IN	3.0	1.0	1000	$1,335	$1.33	23d	1	0.93mi
8914 Elmonte Dr Indianapolis, IN	3.0	1.5	1500	$1,600	$1.07	23d	1	0.93mi
8862 Bel Air Ct Indianapolis, IN	3.0	1.0	1073	$1,264	$1.18	17d	1	0.93mi
3540 Dubarry Ct Indianapolis, IN	3.0	2.0	1297	$1,400	$1.08	23d	1	0.99mi
3809 Biscayne Rd Indianapolis, IN	2.0	1.5	992	$1,020	$1.03	14d	1	0.99mi
3815 Biscayne Rd Indianapolis, IN	3.0	1.5	1188	$1,220	$1.03	14d	1	0.99mi
3938 Biscayne Rd Indianapolis, IN	3.0	1.0	1000	$1,895	$1.90	3d	1	1.03mi
3665 Coneflower Way Indianapolis, IN	3.0	2.0	1030	$1,375	$1.33	43d	1	1.06mi
8738 Montery Rd Indianapolis, IN	3.0	1.0	1421	$1,396	$0.98	7d	1	1.07mi
8724 Montery Rd Indianapolis, IN	3.0	1.0	925	$1,500	$1.62	43d	1	1.09mi
4315 Aspen Way Indianapolis, IN	3.0	1.0	1080	$1,380	$1.28	43d	1	1.49mi

HOA detail condo

• Monthly dues: $250 · $3,000/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 16 events

1. 2026-06-18
   days on market $80,000 Active 38 DOM
2. 2026-06-17
   days on market $80,000 Active 37 DOM
3. 2026-06-16
   days on market $80,000 Active 36 DOM
4. 2026-06-15
   days on market $80,000 Active 35 DOM
5. 2026-06-13
   days on market $80,000 Active 33 DOM
6. 2026-06-13
   days on market $80,000 Active 32 DOM
7. 2026-06-09
   days on market $80,000 Active 29 DOM
8. 2026-06-08
   days on market $80,000 Active 28 DOM
9. 2026-06-07
   days on market $80,000 Active 27 DOM
10. 2026-06-03
    days on market $80,000 Active 23 DOM
11. 2026-06-02
    days on market $80,000 Active 22 DOM
12. 2026-06-01
    days on market $80,000 Active 21 DOM
13. 2026-05-31
    days on market $80,000 Active 20 DOM
14. 2026-05-11
    listed $90,000 Active 314-char remark
15. 2007-12-07
    soldstatus $10,000 118-char remark

    Show marketing remark (118 chars)

    Investors take a look!!! Bank owned property with great potential. Property Sold AS-IS. Room sizes are approximate.

16. 2006-10-23
    listed $17,900 118-char remark

    Show marketing remark (118 chars)

    Investors take a look!!! Bank owned property with great potential. Property Sold AS-IS. Room sizes are approximate.

ⓘ 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: $2,650 · $221/mo
• Projected year-2 tax: $2,650 · $221/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 (shaded) · 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 100% 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: $17,204
• − Mortgage interest: −$4,481
• − Property taxes: −$2,650
• − Insurance: −$400
• − Repairs & maintenance: −$1,376
• − Management: −$1,376
• − HOA: −$3,000
• − Depreciation: −$2,327
• Taxable income: $1,593
• Est. tax owed @ 24.0%: −$382
• After-tax cash flow: $2,124/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): 36,317
• Household income: $58,951
• Rent vs Own: 46.5% rent · 53.5% own
• Severe rent burden: 1901.0

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 57% White 18% Hispanic / Latino 17% Two or more races 11%
• Hispanic origin (detail): Mexican 11% Puerto Rican 2%
• Common ancestry: Hispanic 3% Slovak 1% Romanian 1%
• Foreign-born: 11% · Canada
• Languages at home: 80% English-only · Spanish 15% French/Haitian/Cajun 4%

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: ▼ -12.41%
• Current HPI: 275.1505
• Rent YoY: ▲ 2.56%
• 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

+346.9% since first listed

4 events — show timeline

• 2026-05-29 Price Changed $80,000 MIBOR as Distributed by MLS Grid
• 2026-05-11 Listed $90,000 MIBOR as Distributed by MLS Grid
• 2007-12-07 Sold (MLS) $10,000 MIBOR as Distributed by MLS Grid
• 2006-10-23 Listed $17,900 MIBOR as Distributed by MLS Grid

Property tax history

+17.4%/yr

Latest (2025): $2,650 · +91.0% YoY. Source: county tax records.