4632 Bertrand Rd · Indianapolis city (balance), IN 46222

$169,000

3 bd · 1.0 ba · 980 sqft · SingleFamily public records · 1 Days on market

Built 1955 6,665 sqft lot Est $166k · at est.

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Why this score? — see what drove the F 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).

• ARV discount +6.6/15.0
• Cash flow +5.6/30.0
• Rent growth +3.1/5.0
• 1% rule +3.0/10.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.4/10.0
• DSCR +0.0/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Come Check out this Unique 3 Bedroom Ranch with a In-Law Quarters in Eagledale! You get 2 Homes for the Price of One: Front Home has 3 Bedrooms and 1 Full Bath, Spacious Living Room, Open Concept Updated Kitchen with New Appliances, Nice Dining Area. The In Law Quarters has an Open Concept Full Kitchen with a Living Room, Full Bathroom and a Large Bedroom. Private Fenced Back Yard with Drive Way Gate. It Also has a 8x8 Storage Room to the Side of Home....Updates Include: New Water Heater, Newer HVAC 18', Newly Painted Siding, New Plumbing in Bathrooms, Updated Cabinets and Brand New Roof to be Installed this Weekend.

Key facts

• 6,665 sq ft lot
• Built 1955

Property features AI

Finance

• Other: Current use: Apartments (under 20 units)
• Financial info: Gross income reported: $3,275; Expenses reported: $23,979; Two rental units with reported monthly rents of $1,095 and $1,490

Exterior

• Parking: No dedicated parking
• Utilities: No municipal solid waste service listed
• Home design: Duplex (residential income property); Single-story
• Construction: Conversion: No
• Exterior features: Asphalt roof; Access road

Interior

• Kitchen: Kitchen (both units approximately 13 x 12)
• Bedrooms: One 2-bedroom unit; One 3-bedroom unit
• Heating & cooling: Forced air heating (natural gas); Central air conditioning
• Interior features: Central air conditioning; Forced air heating fueled by natural gas

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $169k.

Deal economics

• At list price, monthly cash flow is $-355 ($-4k/yr) — negative.
• To cash-flow at today's rent, offer at most $110k (34.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $134k (20.5% below list).
• Recommended offer: $110k (34.7% below list) — sets the bar for cash-flow.

Location & tenants

• Location reads: area grade F — 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: Clarence Farrington School 61 (math 6% / reading 9%, grade F, #949 of 994 statewide, top 97%, 467 students, 81% FRL); H L Harshman Middle School (math 3% / reading 16%, grade F, #316 of 330 statewide, top 96%, 549 students, 84% FRL); George Washington High School (math 2% / reading 17%, grade F, #366 of 369 statewide, top 99%, 753 students, 68% FRL) — zoned schools at 78% FRL track the district average.
• Market conditions: Rents rising (+2.5%/yr); 174 active listings in the ZIP; 18 comparable units currently listed for rent nearby; rentals at typical pace (median 22d 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 32% 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 $1k of loan paydown is wiped out by about $5k 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

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 6y 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 $115k; 47% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: property tax is 3.3% of price; built in 1955 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $110,380 (34.7% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. Built in 1955 — 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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
6. 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.
7. 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.
8. 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: 0.80% ✗
• Cap rate: 3.77%
• Cash-on-cash: -8.99%
• DSCR: 0.60
• GRM: 10.5

CMA / ARV

• ARV (on-the-fly): $165,620
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3116 Georgetown Rd	0.13mi	3/1.0	925 (-6%)	1mo	$205,000	$222	84
3148 Keswick Rd	0.05mi	3/1.0	900 (-8%)	3mo	$132,500	$147	82
3148 Donald Ave	0.16mi	4/1.5 (+1)	1,000 (+2%)	2mo	$160,000	$160	81
4047 Arcadia St	0.42mi	3/1.0	972 (-1%)	2mo	$178,900	$184	78
3035 Auburn Rd	0.33mi	3/1.0	1,025 (+5%)	0mo	$167,000	$163	77
3914 Thrush Dr	0.57mi	3/1.0	984 (+0%)	1mo	$121,500	$123	72
2825 Mussman Dr	0.44mi	3/1.5	936 (-4%)	2mo	$202,000	$216	68
3107 Winton Ave	0.45mi	3/1.0	925 (-6%)	2mo	$156,000	$169	68
4131 Breton St	0.36mi	3/1.0	888 (-9%)	2mo	$132,000	$149	66
3042 Danbury Rd	0.56mi	3/2.0	1,056 (+8%)	2mo	$225,000	$213	55
3234 Chrysler St	0.28mi	4/1.5 (+1)	1,125 (+15%)	1mo	$207,000	$184	54
2650 Shirley Dr	0.68mi	3/1.0	888 (-9%)	1mo	$134,900	$152	52

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: -32.9%
• Equity multiple: -0.07×
• Total profit: $-50,526
• Equity at exit: $25,198

10-year hold

• IRR: -42.5%
• Equity multiple: -0.59×
• Total profit: $-75,327
• Equity at exit: $14,612

Cash invested: $47,320 (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: 174
• Price-to-rent: 10.5×

Monthly cashflow live

• Estimated rent: $1,344 high
• Mortgage (P&I): −$886
• Tax from tax record: −$460 /mo · $5,519/yr
• Insurance: −$70
• HOA: −$0
• Vacancy / Maint / Mgmt: −$282
• Net cashflow: $-355

Break-even live

Break-even rent $1,793

Max offer price $110,380

Occupancy floor —

Sensitivity live

Price	-10% $-259	-5% $-307	+0% $-355	+5% $-402	+10% $-450
Rent	-10% $-461	-5% $-408	+0% $-355	+5% $-302	+10% $-248
Rate	-1.0pp $-270	-0.5pp $-312	base $-355	+0.5pp $-398	+1.0pp $-443

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: $42,250
• Closing costs: $5,070
• Reserves months: —
• Total cash needed: —

Rent comps 18 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3138 Midvale Dr Indianapolis, IN	3.0	1.0	900	$1,495	$1.66	45d	1	0.08mi
3060 Midvale Dr Indianapolis, IN	3.0	1.0	900	$1,200	$1.33	25d	1	0.16mi
3232 Normandy Rd Indianapolis, IN	3.0	1.0	900	$1,250	$1.39	21d	1	0.24mi
3245 Chrysler St Indianapolis, IN	3.0	1.0	945	$1,345	$1.42	6d	1	0.27mi
4014 Alberta St Indianapolis, IN	3.0	1.0	988	$1,195	$1.21	22d	1	0.43mi
3417 N Rybolt Ave Indianapolis, IN	2.0	1.0	616	$1,179	$1.91	0d	9	0.47mi
2907 Corvallis Cres Indianapolis, IN	3.0	1.5	1104	$1,200	$1.09	25d	1	0.62mi
2907 Corvallis Cres Indianapolis, IN	3.0	1.0	1104	$1,200	$1.09	45d	1	0.62mi
2 Philip Ct Indianapolis, IN	3.0	1.0	1000	$1,295	$1.29	25d	1	0.62mi
3201 Watergate Rd Indianapolis, IN	3.0	1.0–2.0	826	$1,269	$1.54	5d	20	0.68mi
2930 Lafayette Rd Indianapolis, IN	2.0	1.0	642	$1,108	$1.72	3d	5	1.03mi
5505 Scarlet Dr Indianapolis, IN	3.0	1.0–1.5	883	$1,669	$1.89	0d	7	1.10mi
3215 N Alton Ave Indianapolis, IN	1.0–3.0	1.0–2.0	970	$1,379	$1.42	0d	9	1.11mi
3215 N Alton Ave Unit 33S3323B Indianapolis, IN	2.0	2.0	1064	$1,109	$1.04	45d	1	1.13mi
3215 N Alton Ave Unit 3326C Indianapolis, IN	2.0	2.0	1064	$1,109	$1.04	22d	1	1.13mi
3451 Sherburne Ln Indianapolis, IN	1.0–2.0	1.0	850	$1,386	$1.63	0d	37	1.22mi
3621 Lawnview Ln Indianapolis, IN	1.0–3.0	1.0–1.5	997	$1,259	$1.26	0d	12	1.39mi
3120 Nobscot Dr Indianapolis, IN	1.0–3.0	1.0–2.0	1023	$1,370	$1.34	0d	14	1.46mi

Listing history 9 events

1. 2026-05-12
   status Pending
2. 2026-05-11
   listed $169,000 Active
3. 2025-02-07
   historical
4. 2025-02-03
   listed $169,000 Active
5. 2022-08-05
   price $1,400
6. 2020-10-28
   soldstatus $115,000 Sold 625-char remark

   Show marketing remark (625 chars)

   Come Check out this Unique 3 Bedroom Ranch with a In-Law Quarters in Eagledale! You get 2 Homes for the Price of One: Front Home has 3 Bedrooms and 1 Full Bath, Spacious Living Room, Open Concept Updated Kitchen with New Appliances, Nice Dining Area. The In Law Quarters has an Open Concept Full Kitchen with a Living Room, Full Bathroom and a Large Bedroom. Private Fenced Back Yard with Drive Way Gate. It Also has a 8x8 Storage Room to the Side of Home....Updates Include: New Water Heater, Newer HVAC 18', Newly Painted Siding, New Plumbing in Bathrooms, Updated Cabinets and Brand New Roof to be Installed this Weekend.

7. 2020-09-18
   status Pending 625-char remark

   Show marketing remark (625 chars)

   Come Check out this Unique 3 Bedroom Ranch with a In-Law Quarters in Eagledale! You get 2 Homes for the Price of One: Front Home has 3 Bedrooms and 1 Full Bath, Spacious Living Room, Open Concept Updated Kitchen with New Appliances, Nice Dining Area. The In Law Quarters has an Open Concept Full Kitchen with a Living Room, Full Bathroom and a Large Bedroom. Private Fenced Back Yard with Drive Way Gate. It Also has a 8x8 Storage Room to the Side of Home....Updates Include: New Water Heater, Newer HVAC 18', Newly Painted Siding, New Plumbing in Bathrooms, Updated Cabinets and Brand New Roof to be Installed this Weekend.

8. 2020-09-11
   listed $115,000 Active 625-char remark

   Show marketing remark (625 chars)

   Come Check out this Unique 3 Bedroom Ranch with a In-Law Quarters in Eagledale! You get 2 Homes for the Price of One: Front Home has 3 Bedrooms and 1 Full Bath, Spacious Living Room, Open Concept Updated Kitchen with New Appliances, Nice Dining Area. The In Law Quarters has an Open Concept Full Kitchen with a Living Room, Full Bathroom and a Large Bedroom. Private Fenced Back Yard with Drive Way Gate. It Also has a 8x8 Storage Room to the Side of Home....Updates Include: New Water Heater, Newer HVAC 18', Newly Painted Siding, New Plumbing in Bathrooms, Updated Cabinets and Brand New Roof to be Installed this Weekend.

9. 2019-01-24
   soldstatus $50,000

ⓘ 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: $5,519 · $460/mo
• Projected year-2 tax: $5,519 · $460/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 · 19 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 4/10 Moderate 5 unhealthy d/yr today · 7 by 30 yrs out

Taxation est. · year 1

• Rental income: $16,131
• − Mortgage interest: −$9,467
• − Property taxes: −$5,519
• − Insurance: −$845
• − Repairs & maintenance: −$1,290
• − Management: −$1,290
• − Depreciation: −$4,916
• Taxable loss: −$7,197
• Est. tax savings @ 24.0%: +$1,727
• After-tax cash flow: $-2,528/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

+238.0% since first listed

9 events — show timeline

• 2026-05-12 Pending — MIBOR as Distributed by MLS Grid
• 2026-05-11 Listed $169,000 MIBOR as Distributed by MLS Grid
• 2025-02-07 Listing Removed — MIBOR as Distributed by MLS Grid
• 2025-02-03 Listed $169,000 MIBOR as Distributed by MLS Grid
• 2022-08-05 Price Changed $1,400 RENT.
• 2020-10-28 Sold (MLS) $115,000 MIBOR as Distributed by MLS Grid
• 2020-09-18 Pending — MIBOR as Distributed by MLS Grid
• 2020-09-11 Listed $115,000 MIBOR as Distributed by MLS Grid
• 2019-01-24 Sold (Public Records) $50,000 Public Records

Property tax history

+14.4%/yr

Latest (2025): $5,519 · +28.2% YoY. Source: county tax records.