2816 W 10th St · Indianapolis city (balance), IN 46222

$80,000

1 bd · 1.0 ba · 1,782 sqft · SingleFamily public records · 13 Days on market

Built 1970 4,312 sqft lot Est $123k · 35% under

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

Listing remarks

Opportunity awaits with this home on West 10th Street ready for your personal touch. Whether you're looking to renovate, invest, or create your ideal home, this property offers great potential. The additional lot next door provides extra space to build, expand, or enjoy a larger outdoor area.

Key facts

• Additional lot
• Larger outdoor area
• Extra space

Tags

• ADDITIONAL LOT
• EXTRA SPACE
• LARGER OUTDOOR AREA

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath single-family listed at $80k.

Deal economics

• At list price, monthly cash flow is $551 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $80k).
• Cap rate 14.6% 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: Center For Inquiry School 27 (math 25% / reading 29%, grade F, #737 of 994 statewide, top 76%, 525 students, 51% FRL); H L Harshman Middle School (math 3% / reading 16%, grade F, #316 of 330 statewide, top 96%, 549 students, 84% FRL).
• Market conditions: Rents rising (+2.5%/yr); 174 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals leasing fast (median 9d on market — plan ~1-2 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 ($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 $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.
• At projected returns (-3.0% appreciation + 2.5% rent growth), your $22k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• Only 13 days on market — expect competitive offers; lowballing is unlikely to land.

Recommended offer $80,000

Questions for the listing agent

1. Built in 1970 — 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: 1.77% ✓
• Cap rate: 14.56%
• Cash-on-cash: 29.54%
• DSCR: 2.31
• GRM: 4.7

CMA / ARV

• ARV (on-the-fly): $122,958
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1325 Sharon Ave	0.34mi	2/1.5 (+1)	1,782 (0%)	2mo	$145,000	$81	75
1105 Winfield Ave	0.11mi	2/1.0 (+1)	1,632 (-8%)	8mo	$128,000	$78	69
1024 N Alton	0.56mi	2/1.0 (+1)	1,772 (-1%)	8mo	$132,000	$74	61
1114 N Mount St	0.29mi	2/1.0 (+1)	1,896 (+6%)	12mo	$95,000	$50	61
1425 N Mount St	0.49mi	2/1.0 (+1)	1,824 (+2%)	14mo	$176,500	$97	57
1425 Sharon Ave	0.41mi	2/1.0 (+1)	1,611 (-10%)	6mo	$108,000	$67	55
405 N Holmes Ave	0.56mi	2/1.5 (+1)	1,920 (+8%)	0mo	$69,900	$36	54
1030 N Concord St N	0.23mi	2/1.0 (+1)	1,536 (-14%)	12mo	$89,555	$58	52
1725 Medford Ave	0.64mi	2/1.0 (+1)	1,896 (+6%)	10mo	$130,000	$69	46
905 N Sheffield Ave	0.48mi	2/1.0 (+1)	1,544 (-13%)	9mo	$69,000	$45	43
418 N Centennial St	0.66mi	2/1.0 (+1)	1,582 (-11%)	10mo	$60,000	$38	38
350 N Belleview Pl	0.66mi	2/2.0 (+1)	1,926 (+8%)	12mo	$202,500	$105	37

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: 23.4%
• Equity multiple: 1.96×
• Total profit: $21,424
• Equity at exit: $11,928

10-year hold

• IRR: 31.0%
• Equity multiple: 3.72×
• Total profit: $60,898
• 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 46222

• Home prices YoY: -16.7%
• Rents YoY: 2.5%
• Active inventory: 174
• Price-to-rent: 4.7×

Monthly cashflow live

• Estimated rent: $1,419 high
• Mortgage (P&I): −$420
• Tax from tax record: −$117 /mo · $1,399/yr
• Insurance: −$33
• HOA: −$0
• Vacancy / Maint / Mgmt: −$298
• Net cashflow: $551

Break-even live

Break-even rent $721

Max offer price $80,000

Occupancy floor 56%

Sensitivity live

Price	-10% $597	-5% $574	+0% $551	+5% $529	+10% $506
Rent	-10% $439	-5% $495	+0% $551	+5% $608	+10% $664
Rate	-1.0pp $592	-0.5pp $572	base $551	+0.5pp $531	+1.0pp $510

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 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2952 W New York St Indianapolis, IN	2.0	2.5	1882	$2,000	$1.06	0d	1	0.73mi
2952 W New York St Indianapolis, IN	2.0	2.5	1867	$2,000	$1.07	23d	1	0.73mi
264 N Holmes Ave Indianapolis, IN	2.0	1.0	1540	$1,199	$0.78	25d	1	0.78mi
261 N Pershing Ave Indianapolis, IN	2.0	2.0	1764	$1,600	$0.91	25d	1	0.88mi
1410 Breedlove Ln Indianapolis, IN	2.0	1.0–2.0	947	$1,964	$2.07	0d	61	1.21mi
3621 Lawnview Ln Indianapolis, IN	1.0–3.0	1.0–1.5	997	$889	$0.89	0d	12	1.39mi
1201 Indiana Ave Indianapolis, IN	1.0–3.0	1.0–3.5	967	$1,137	$1.18	0d	34	1.47mi
2602 Mansion Dr Indianapolis, IN	2.0–3.0	2.0	1850	$1,379	$0.75	9d	6	1.47mi

Listing history 2 events

1. 2026-04-13
   status Pending
2. 2026-03-10
   listed $80,000 Active

ⓘ 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: $1,399 · $117/mo
• Projected year-2 tax: $1,399 · $117/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: $17,026
• − Mortgage interest: −$4,481
• − Property taxes: −$1,399
• − Insurance: −$400
• − Repairs & maintenance: −$1,362
• − Management: −$1,362
• − Depreciation: −$2,327
• Taxable income: $5,695
• Est. tax owed @ 24.0%: −$1,367
• After-tax cash flow: $5,251/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

• 2026-04-13 Pending — MIBOR as Distributed by MLS Grid
• 2026-03-10 Listed $80,000 MIBOR as Distributed by MLS Grid

Property tax history

+19.8%/yr

Latest (2025): $1,399 · +24.6% YoY. Source: county tax records.