1212 S Senate Ave · Indianapolis city (balance), IN 46225

$169,000

3 bd · 2.5 ba · 1,260 sqft · SingleFamily public records · 224 Days on market

Built 2015 1,263 sqft lot Est $175k · at est. ↓ 35% since listing

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Why this score? — see what drove the D 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 +13.0/30.0
• ARV discount +9.1/15.0
• 1% rule +5.2/10.0
• Rent growth +5.0/5.0
• DSCR +3.9/10.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.4/10.0
• Appreciation +0.0/10.0

Listing remarks

* Motivated Seller * Step into opportunity on Indianapolis's near-south side! This 3 bedroom, 3-full-bath home at 1212 S Senate Ave offers a flexible layout and unbeatable proximity to downtown amenities. One bedroom and a full bath are conveniently located on the main level. Upstairs, the spacious primary suite includes its own full bathroom, plus there's an additional full bath and another full bedroom with east facing windows bringing in great light. The home features an unfinished basement for storage or future expansion, and all appliances stay-washer, dryer, gas oven/range with kitchen exhaust hood, refrigerator, dishwasher, and garbage disposal-so you can move right in and update at

Key facts

• Unfinished basement
• Recent renovations
• Main level bath

Tags

• MAIN LEVEL BATH
• SPACIOUS PRIMARY SUITE
• UNFINISHED BASEMENT
• RECENT RENOVATIONS

Property features AI

Finance

• HOA & community: Low-maintenance lifestyle

Exterior

• Parking: On-street parking available; Detached garage area approximately 380 sq ft
• Security: Smoke detector(s)
• Utilities: Public water; Municipal sewer; Electricity connected; Natural gas connected
• Home design: Townhouse (attached property); Two levels; Faces east; Fixer and updated/remodeled condition; Has a view
• Construction: Vinyl and wood siding; Block foundation
• Exterior features: Porch; City lot with sidewalks and street lights; Not in a subdivision; Approximately 0.03 acre lot

Interior

• Kitchen: Dishwasher; Gas oven; Range hood; Disposal; Refrigerator; Exhaust fan
• Bedrooms: Three bedrooms total (one on the main level, two on the upper level)
• Bathrooms: Three full bathrooms total; Primary bathroom with double sinks and a shower stall (suite)
• Heating & cooling: Forced air heating (natural gas); Central air conditioning
• Interior features: Attic access with pull-down stairs; Breakfast bar; Built-in features; Kitchen island; Smart thermostat; Laundry in unit; Smoke alarm
• Laundry & utility: Washer and dryer included; Dryer; Electric water heater; Laundry located in unit (basement laundry access noted)

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath single-family listed at $169k.

Deal economics

• At list price, monthly cash flow is $-10 ($-117/yr) — negative.
• To cash-flow at today's rent, offer at most $167k (1.0% below list).
• Meets the 1% rule at list price ($2k rent vs $169k).
• Recommended offer: $149k (12.0% below list) — sets the bar for market timing.
• Cap rate 6.2% 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 D — 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: Frederick Douglass School 19 (math 9% / reading 13%, grade F, #909 of 994 statewide, top 92%, 444 students, 81% 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 fast (+11.0%/yr); 131 active listings in the ZIP; 40 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 38% of the median local income ($55k/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

• It's been on market 224 days — a 12% lower offer ($149k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $31k (15%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: property tax is 3.0% of price.

Recommended offer $148,720 (12.0% 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. It's been on market 224 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
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 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: 1.02% ✓
• Cap rate: 6.22%
• Cash-on-cash: -0.25%
• DSCR: 0.99
• GRM: 8.2

CMA / ARV

• ARV (on-the-fly): $175,140
• Comps found: 7

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
125 Kansas St	0.16mi	3/1.0	1,381 (+10%)	13mo	$130,000	$94	59
1250 Union St	0.37mi	3/1.5	1,440 (+14%)	1mo	$200,000	$139	54
35 Iowa St	0.64mi	3/2.5	1,400 (+11%)	2mo	$239,000	$171	50
21 W Arizona St	0.31mi	4/2.0 (+1)	1,352 (+7%)	22mo	$247,200	$183	48
337 Sanders St	0.68mi	3/2.0	1,320 (+5%)	15mo	$262,000	$198	46
1246 S Union St	0.36mi	2/1.0 (-1)	1,340 (+6%)	24mo	$130,000	$97	42
223 Sanders St	0.60mi	2/1.0 (-1)	1,365 (+8%)	23mo	$90,000	$66	28

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 · 8.0% rent growth · sell at horizon

5-year hold

• IRR: -10.3%
• Equity multiple: 0.60×
• Total profit: $-18,726
• Equity at exit: $25,198

10-year hold

• IRR: 5.7%
• Equity multiple: 1.53×
• Total profit: $25,052
• 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 46225

• Home prices YoY: -8.2%
• Rents YoY: 11.0%
• Active inventory: 131
• Price-to-rent: 8.2×

Monthly cashflow live

• Estimated rent: $1,727 high
• Mortgage (P&I): −$886
• Tax from tax record: −$417 /mo · $5,007/yr
• Insurance: −$70
• HOA: −$0
• Vacancy / Maint / Mgmt: −$363
• Net cashflow: $-10

Break-even live

Break-even rent $1,739

Max offer price $167,282

Occupancy floor 96%

Sensitivity live

Price	-10% $86	-5% $38	+0% $-10	+5% $-58	+10% $-105
Rent	-10% $-146	-5% $-78	+0% $-10	+5% $58	+10% $127
Rate	-1.0pp $75	-0.5pp $33	base $-10	+0.5pp $-54	+1.0pp $-98

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 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
915 S Meridian St Indianapolis, IN	2.0	1.0–2.0	829	$2,551	$3.08	0d	42	0.43mi
11 Iowa St Indianapolis, IN	2.0	1.0	1176	$1,595	$1.36	0d	1	0.61mi
243 Terrace Ave Indianapolis, IN	4.0	2.0	1669	$2,700	$1.62	19d	1	0.70mi
1713 S Delaware St Indianapolis, IN	2.0	2.0	1785	$1,700	$0.95	45d	1	0.71mi
1819 Union St Unit 1817 Indianapolis, IN	3.0	2.0	1020	$1,199	$1.18	45d	1	0.72mi
1407 S Alabama St Indianapolis, IN	2.0	1.0	949	$1,150	$1.21	45d	1	0.73mi
1409 S Alabama St Indianapolis, IN	2.0	1.0	949	$1,245	$1.31	45d	1	0.73mi
1756 S Delaware St Unit 1754 Indianapolis, IN	3.0	2.0	1014	$1,300	$1.28	16d	1	0.75mi
1756 Delaware St Indianapolis, IN	3.0	2.0	1014	$1,300	$1.28	45d	1	0.75mi
406 Orange St Indianapolis, IN	3.0	2.5	1820	$2,250	$1.24	45d	1	0.75mi
1436 S New Jersey St Unit A Indianapolis, IN	3.0	2.5	1300	$2,100	$1.62	25d	1	0.80mi
224 Iowa St Indianapolis, IN	3.0	1.0	1254	$1,450	$1.16	25d	1	0.80mi
518 Prospect St Unit 1353834P Indianapolis, IN	3.0	2.0	1603	$2,442	$1.52	16d	1	0.85mi
518 Prospect St Unit 1357365P Indianapolis, IN	3.0	2.0	1614	$2,594	$1.61	9d	1	0.85mi
1439 South East St Indianapolis, IN	2.0	2.0	1114	$1,425	$1.28	0d	1	0.88mi
1439 South East St Indianapolis, IN	2.0	2.0	1114	$1,425	$1.28	22d	1	0.88mi
1437 S East St Indianapolis, IN	2.0	2.0	1114	$1,425	$1.28	45d	1	0.88mi
614 Parkway Ave Indianapolis, IN	3.0	2.0	1360	$1,850	$1.36	0d	1	0.91mi
704 Sanders St Indianapolis, IN	2.0	1.0	1290	$1,275	$0.99	25d	1	0.94mi
512 E Minnesota St Unit 203 Indianapolis, IN	2.0	1.0	903	$1,195	$1.32	25d	1	0.95mi
736 E Morris St Indianapolis, IN	2.0	1.5	1500	$1,195	$0.80	0d	1	0.99mi
736 E Morris St Indianapolis, IN	2.0	1.5	1500	$1,195	$0.80	6d	1	0.99mi
726 Parkway Ave Indianapolis, IN	3.0	2.0	1150	$2,195	$1.91	19d	1	0.99mi
714 Buchanan St Indianapolis, IN	2.0	2.0	1100	$1,995	$1.81	16d	1	1.00mi
235 S Delaware St Unit 1364131P Indianapolis, IN	2.0	2.0	893	$3,801	$4.26	15d	1	1.01mi
728 Cottage Ave Indianapolis, IN	3.0	2.5	1831	$2,550	$1.39	25d	1	1.01mi
229 S Delaware St Indianapolis, IN	3.0	1.0–3.5	1207	$4,743	$3.93	0d	54	1.02mi
30 E Georgia St Indianapolis, IN	2.0	1.0–2.0	947	$1,657	$1.75	0d	14	1.02mi
438 E Beecher St Indianapolis, IN	3.0	2.5	1500	$1,450	$0.97	25d	1	1.03mi
1247 Wright St Indianapolis, IN	3.0	1.5	1809	$1,750	$0.97	45d	1	1.05mi
1247 Wright St Indianapolis, IN	3.0	1.5	1247	$1,750	$1.40	19d	1	1.05mi
752 Cottage Ave Indianapolis, IN	3.0	2.0	1548	$1,750	$1.13	16d	1	1.05mi
1830 Orleans St Indianapolis, IN	3.0	2.5	1586	$1,995	$1.26	45d	1	1.09mi
1833 Orleans St Unit 1 Indianapolis, IN	3.0	1.0	1260	$1,350	$1.07	45d	1	1.12mi
520 Virginia Ave Apt 4 Indianapolis, IN	2.0	1.0	981	$1,750	$1.78	9d	1	1.12mi
835 Weghorst St Unit 837 Indianapolis, IN	3.0	1.5	1500	$1,399	$0.93	25d	1	1.12mi
620 E Beecher St Indianapolis, IN	3.0	2.0	1072	$1,639	$1.53	21d	1	1.13mi
907 Prospect St Unit 907 Prospect NO AMI Indianapolis, IN	3.0	1.5	1121	$1,400	$1.25	25d	1	1.16mi
26 W Washington St Indianapolis, IN	2.0	2.0	1535	$1,592	$1.04	0d	3	1.17mi
2283 Union St Indianapolis, IN	3.0	2.0	1824	$1,820	$1.00	25d	1	1.18mi

Listing history 10 events

1. 2026-05-02
   status Pending
2. 2026-03-26
   price $169,000
3. 2026-01-21
   price $189,000
4. 2025-09-19
   listed $199,900 Active
5. 2025-09-18
   historical
6. 2025-08-19
   price $214,500
7. 2025-07-28
   price $224,500
8. 2025-06-12
   price $235,000
9. 2025-05-19
   price $250,000
10. 2025-05-12
    listed $259,500 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: $5,007 · $417/mo
• Projected year-2 tax: $5,007 · $417/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 ≥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: $20,722
• − Mortgage interest: −$9,467
• − Property taxes: −$5,007
• − Insurance: −$845
• − Repairs & maintenance: −$1,658
• − Management: −$1,658
• − Depreciation: −$4,916
• Taxable loss: −$2,829
• Est. tax savings @ 24.0%: +$679
• After-tax cash flow: $562/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): 6,037
• Household income: $55,190
• Rent vs Own: 44.0% rent · 56.0% own
• Severe rent burden: 311.0

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: Predominantly White (68%)
• Race & ethnicity: White 68% Two or more races 12% Black 11% Hispanic / Latino 10% Asian 2%
• Hispanic origin (detail): Mexican 6%
• Common ancestry: Romanian 2% Italian 2% Slovak 1%
• Foreign-born: 9% · Canada
• Languages at home: 88% English-only · Spanish 10% German/W. Germanic 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: ▼ -36.19%
• Current HPI: 403.9271
• Rent YoY: ▲ 10.98%
• 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

-34.9% since first listed

10 events — show timeline

• 2026-05-02 Pending — MIBOR as Distributed by MLS Grid
• 2026-03-26 Price Changed $169,000 MIBOR as Distributed by MLS Grid
• 2026-01-21 Price Changed $189,000 MIBOR as Distributed by MLS Grid
• 2025-09-19 Listed $199,900 MIBOR as Distributed by MLS Grid
• 2025-09-18 Listing Removed — MIBOR as Distributed by MLS Grid
• 2025-08-19 Price Changed $214,500 MIBOR as Distributed by MLS Grid
• 2025-07-28 Price Changed $224,500 MIBOR as Distributed by MLS Grid
• 2025-06-12 Price Changed $235,000 MIBOR as Distributed by MLS Grid
• 2025-05-19 Price Changed $250,000 MIBOR as Distributed by MLS Grid
• 2025-05-12 Listed $259,500 MIBOR as Distributed by MLS Grid

Property tax history

+58.0%/yr

Latest (2025): $5,007 · +5.7% YoY. Source: county tax records.