3525 N Tacoma Ave · Indianapolis city (balance), IN 46218

$149,900

3 bd · 3.0 ba · 1,252 sqft · SingleFamily public records · 111 Days on market

Built 1940 0.34 ac lot

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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 +16.9/30.0
• ARV discount +7.5/15.0
• DSCR +5.3/10.0
• 1% rule +4.8/10.0
• Rent growth +2.7/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.4/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Attention Investors!! Amazing opportunity for those looking for a project. This 4 bedroom 2 bathroom home is being sold As-Is, needs TLC, and has endless potential! 3 bedrooms and 1 full bath can be found on the main level, with another bedroom and bathroom located in the basement. Located on a spacious lot, this home truly stands out from the rest. You do not want to miss out on this opportunity, book a showing today!

Key facts

• 0.34 acre lot
• Built 1940
• Listed 111 days

What this means for you Summary

Snapshot

• This is a 3-bed/3.0-bath single-family listed at $150k.

Deal economics

• At list price, monthly cash flow is $98 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $146k (2.4% below list).
• Recommended offer: $136k (9.0% 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 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: 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 flat; 338 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 17d on market — plan ~3-4 weeks tenant-placement turnaround); lower-income renter base — watch delinquency; 1,906 units permitted in Marion County in 2024 (621 in 5+ unit buildings).
• At $1,463/mo this rent would consume 46% of the median local household income ($38k/yr) (locally 2340% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k 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 111 days — a 9% lower offer ($136k) is reasonable based on typical stale-listing flexibility.
• 12 sale attempts since 25y 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 $104k; 44% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1940 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $136,409 (9.0% below list)

Questions for the listing agent

1. It's been on market 111 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1940 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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: 0.98% ✗
• Cap rate: 7.08%
• Cash-on-cash: 2.81%
• DSCR: 1.13
• GRM: 8.5

CMA / ARV

• ARV (on-the-fly): $90,144
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3515 N Keystone Ave	0.10mi	2/1.0 (-1)	1,200 (-4%)	8mo	$58,000	$48	69
3460 N Oxford St	0.23mi	3/1.0	1,176 (-6%)	6mo	$50,000	$43	66
3624 N Parker Ave	0.34mi	3/2.0	1,179 (-6%)	8mo	$125,000	$106	64
3263 Schofield Ave	0.64mi	3/1.0	1,194 (-5%)	2mo	$73,600	$62	53
3448 Kinnear Ave	0.41mi	3/1.0	1,372 (+10%)	8mo	$60,000	$44	50
3034 E 35th St	0.41mi	3/1.5	1,080 (-14%)	8mo	$63,000	$58	46
3031 E 38th St	0.49mi	2/1.0 (-1)	1,371 (+10%)	4mo	$100,000	$73	45
3719 Kinnear Ave	0.44mi	2/1.0 (-1)	1,392 (+11%)	5mo	$62,500	$45	44
3125 N Tacoma Ave	0.49mi	3/1.5	1,104 (-12%)	9mo	$175,000	$159	44
3932 Caroline Ave	0.60mi	2/1.0 (-1)	1,315 (+5%)	13mo	$103,000	$78	40
3528 Orchard Ave	0.47mi	2/1.0 (-1)	1,400 (+12%)	13mo	$101,000	$72	35
3134 Orchard Ave	0.66mi	4/1.0 (+1)	1,104 (-12%)	13mo	$190,000	$172	26

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 · 0.81% rent growth · sell at horizon

5-year hold

• IRR: -14.4%
• Equity multiple: 0.50×
• Total profit: $-21,151
• Equity at exit: $22,351

10-year hold

• IRR: -9.7%
• Equity multiple: 0.46×
• Total profit: $-22,605
• Equity at exit: $12,961

Cash invested: $41,972 (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 46218

• Home prices YoY: -17.1%
• Rents YoY: 0.8%
• Active inventory: 338
• Price-to-rent: 8.5×

Monthly cashflow live

• Estimated rent: $1,463 high
• Mortgage (P&I): −$786
• Tax from tax record: −$209 /mo · $2,510/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$307
• Net cashflow: $98

Break-even live

Break-even rent $1,339

Max offer price $149,900

Occupancy floor 88%

Sensitivity live

Price	-10% $183	-5% $141	+0% $98	+5% $56	+10% $13
Rent	-10% $-17	-5% $40	+0% $98	+5% $156	+10% $214
Rate	-1.0pp $174	-0.5pp $136	base $98	+0.5pp $59	+1.0pp $20

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: $37,475
• Closing costs: $4,497
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3741 N Tacoma Ave Indianapolis, IN	3.0	1.0	913	$2,200	$2.41	19d	1	0.25mi
3448 Hillside Ave Indianapolis, IN	3.0	1.0	1305	$1,800	$1.38	0d	1	0.25mi
3535 N Oxford St Indianapolis, IN	3.0	1.0	1015	$1,500	$1.48	23d	1	0.28mi
3532 Caroline Ave Indianapolis, IN	4.0	1.0	1177	$2,299	$1.95	45d	1	0.32mi
2221 E 38th St Indianapolis, IN	2.0	1.0	1728	$999	$0.58	16d	1	0.35mi
3472 N Dearborn St Indianapolis, IN	2.0	1.0	890	$1,099	$1.23	21d	1	0.42mi
1902 E 35th St Indianapolis, IN	3.0	1.0	1100	$1,600	$1.45	45d	1	0.51mi
3436 N Lasalle St Indianapolis, IN	3.0	1.0	1118	$1,300	$1.16	0d	1	0.53mi
3121 Baltimore Ave Indianapolis, IN	3.0	1.0	1232	$7,865	$6.38	9d	1	0.58mi
3615 Sherman Forest Dr Indianapolis, IN	4.0	1.0–2.5	1057	$1,544	$1.46	6d	1	0.87mi
3207 N Arsenal Ave Indianapolis, IN	3.0	1.0	994	$1,195	$1.20	0d	1	0.90mi
3207 N Arsenal Ave Indianapolis, IN	3.0	1.0	994	$1,195	$1.20	25d	1	0.90mi
2920 N Lasalle St Indianapolis, IN	3.0	1.0	875	$1,095	$1.25	19d	1	0.93mi
4115 Meadows Dr Indianapolis, IN	1.0–3.0	1.0–2.0	1013	$1,592	$1.57	45d	9	0.93mi
2949 Adams St Indianapolis, IN	2.0	1.0	978	$1,150	$1.18	45d	1	0.94mi
2906 N Lasalle St Indianapolis, IN	4.0	1.0	1032	$950	$0.92	25d	1	0.96mi
2820 Caroline Ave Indianapolis, IN	3.0	1.5	1112	$1,250	$1.12	25d	1	0.97mi
3132 Dr Andrew J Brown Ave Indianapolis, IN	2.0	1.0–2.0	791	$2,120	$2.68	3d	46	1.02mi
4301 Crittenden Ave Indianapolis, IN	2.0	1.0	1376	$1,350	$0.98	45d	1	1.03mi
3541 Birchwood Ave Indianapolis, IN	3.0	1.0	1400	$1,549	$1.11	13d	1	1.04mi
2830 Lasalle St Unit 28 Indianapolis, IN	2.0	1.0	1400	$1,025	$0.73	0d	1	1.04mi
3476 Birchwood Ave Indianapolis, IN	3.0	1.5	1420	$1,625	$1.14	25d	1	1.06mi
4303 Norwaldo Ave Indianapolis, IN	3.0	1.0	1050	$1,200	$1.14	45d	1	1.06mi
2827 Adams St Indianapolis, IN	3.0	2.0	1200	$1,512	$1.26	3d	1	1.08mi
2810 Adams St Indianapolis, IN	3.0	2.0	912	$1,200	$1.32	0d	1	1.10mi
4400 E Fall Creek Parkway North Dr Indianapolis, IN	1.0–2.0	1.0–1.5	857	$1,349	$1.57	0d	34	1.14mi
4309 Ralston Ave Indianapolis, IN	3.0	1.0	918	$1,600	$1.74	16d	1	1.14mi
2616 Caroline Ave Indianapolis, IN	4.0	1.0	1276	$1,300	$1.02	45d	1	1.15mi
916 Fairfield Ave Unit 918 Indianapolis, IN	3.0	1.0	1000	$1,300	$1.30	9d	1	1.16mi
3139 Guilford Ave Indianapolis, IN	3.0	1.0	1068	$1,345	$1.26	45d	1	1.17mi
3509 Guilford Ave Indianapolis, IN	3.0	1.5	1351	$1,445	$1.07	16d	1	1.17mi
3208 Guilford Ave Indianapolis, IN	3.0	3.0	1800	$1,700	$0.94	14d	1	1.18mi
3909 Winthrop Ave Unit B Indianapolis, IN	2.0	1.5	931	$1,550	$1.66	13d	1	1.18mi
2828 N Gale St Indianapolis, IN	3.0	2.0	1248	$1,260	$1.01	0d	1	1.19mi
3530 Guilford Ave Indianapolis, IN	3.0	2.0	1426	$1,500	$1.05	0d	1	1.20mi
4448 Evanston Ave Unit B Indianapolis, IN	2.0	1.5	1500	$1,275	$0.85	23d	1	1.21mi
4448 Evanston Ave Unit B Indianapolis, IN	2.0	1.5	1500	$1,275	$0.85	0d	1	1.21mi
4448 Evanston Ave Unit B Indianapolis, IN	2.0	1.5	1500	$1,400	$0.93	45d	1	1.21mi
3203 Sutherland Ave Unit 1310761P Indianapolis, IN	2.0	1.0	1097	$3,668	$3.34	3d	1	1.22mi
3110 Guilford Ave Indianapolis, IN	3.0	1.5	1250	$1,295	$1.04	25d	1	1.23mi

Listing history 28 events

1. 2026-03-05
   status Pending
2. 2025-12-01
   status Active
3. 2025-11-24
   status Pending
4. 2025-11-08
   listed $149,900 Active
5. 2024-09-05
   soldstatus $104,000 Closed 422-char remark

   Show marketing remark (422 chars)

   Attention Investors!! Amazing opportunity for those looking for a project. This 4 bedroom 2 bathroom home is being sold As-Is, needs TLC, and has endless potential! 3 bedrooms and 1 full bath can be found on the main level, with another bedroom and bathroom located in the basement. Located on a spacious lot, this home truly stands out from the rest. You do not want to miss out on this opportunity, book a showing today!

6. 2024-08-22
   status Pending 422-char remark

   Show marketing remark (422 chars)

   Attention Investors!! Amazing opportunity for those looking for a project. This 4 bedroom 2 bathroom home is being sold As-Is, needs TLC, and has endless potential! 3 bedrooms and 1 full bath can be found on the main level, with another bedroom and bathroom located in the basement. Located on a spacious lot, this home truly stands out from the rest. You do not want to miss out on this opportunity, book a showing today!

7. 2024-08-15
   status Active 422-char remark

   Show marketing remark (422 chars)

   Attention Investors!! Amazing opportunity for those looking for a project. This 4 bedroom 2 bathroom home is being sold As-Is, needs TLC, and has endless potential! 3 bedrooms and 1 full bath can be found on the main level, with another bedroom and bathroom located in the basement. Located on a spacious lot, this home truly stands out from the rest. You do not want to miss out on this opportunity, book a showing today!

8. 2024-07-29
   status Pending 422-char remark

   Show marketing remark (422 chars)

   Attention Investors!! Amazing opportunity for those looking for a project. This 4 bedroom 2 bathroom home is being sold As-Is, needs TLC, and has endless potential! 3 bedrooms and 1 full bath can be found on the main level, with another bedroom and bathroom located in the basement. Located on a spacious lot, this home truly stands out from the rest. You do not want to miss out on this opportunity, book a showing today!

9. 2024-07-25
   status Active 422-char remark

   Show marketing remark (422 chars)

   Attention Investors!! Amazing opportunity for those looking for a project. This 4 bedroom 2 bathroom home is being sold As-Is, needs TLC, and has endless potential! 3 bedrooms and 1 full bath can be found on the main level, with another bedroom and bathroom located in the basement. Located on a spacious lot, this home truly stands out from the rest. You do not want to miss out on this opportunity, book a showing today!

10. 2024-07-18
    status Pending 422-char remark

    Show marketing remark (422 chars)

    Attention Investors!! Amazing opportunity for those looking for a project. This 4 bedroom 2 bathroom home is being sold As-Is, needs TLC, and has endless potential! 3 bedrooms and 1 full bath can be found on the main level, with another bedroom and bathroom located in the basement. Located on a spacious lot, this home truly stands out from the rest. You do not want to miss out on this opportunity, book a showing today!

11. 2024-07-15
    listed $109,000 Active 422-char remark

    Show marketing remark (422 chars)

    Attention Investors!! Amazing opportunity for those looking for a project. This 4 bedroom 2 bathroom home is being sold As-Is, needs TLC, and has endless potential! 3 bedrooms and 1 full bath can be found on the main level, with another bedroom and bathroom located in the basement. Located on a spacious lot, this home truly stands out from the rest. You do not want to miss out on this opportunity, book a showing today!

12. 2013-09-21
    historical
13. 2012-06-11
    listed $57,500
14. 2009-12-31
    historical
15. 2009-12-23
    historical
16. 2009-07-30
    listed $65,000
17. 2009-07-24
    listed $2,300,000
18. 2009-02-09
    historical
19. 2009-02-09
    soldstatus $16,511
20. 2008-11-19
    soldstatus $87,428
21. 2008-11-07
    listed $14,900
22. 2006-12-30
    historical
23. 2006-11-13
    soldstatus $30,000
24. 2006-09-21
    listed $25,900
25. 2006-08-31
    soldstatus $56,849
26. 2006-07-31
    listed $36,900
27. 2001-05-30
    soldstatus $1
28. 2001-03-26
    listed $64,900

ⓘ 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: $2,510 · $209/mo
• Projected year-2 tax: $2,510 · $209/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 ≥102°F today · 18 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% 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: $17,559
• − Mortgage interest: −$8,397
• − Property taxes: −$2,510
• − Insurance: −$750
• − Repairs & maintenance: −$1,405
• − Management: −$1,405
• − Depreciation: −$4,361
• Taxable loss: −$1,267
• Est. tax savings @ 24.0%: +$304
• After-tax cash flow: $1,483/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): 29,360
• Household income: $38,063
• Rent vs Own: 47.2% rent · 52.8% own
• Severe rent burden: 2340.0

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 Black (68%)
• Race & ethnicity: Black 68% White 18% Hispanic / Latino 9% Two or more races 6%
• Hispanic origin (detail): Mexican 6%
• Common ancestry: Romanian 1%
• Foreign-born: 5% · Canada, Philippines
• Languages at home: 92% English-only · Spanish 7%

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: ▼ -81.57%
• Current HPI: 395.7071
• Rent YoY: ▲ 0.81%
• 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

+131.0% since first listed

28 events — show timeline

• 2026-03-05 Pending — MIBOR as Distributed by MLS Grid
• 2025-12-01 Relisted — MIBOR as Distributed by MLS Grid
• 2025-11-24 Pending — MIBOR as Distributed by MLS Grid
• 2025-11-08 Listed $149,900 MIBOR as Distributed by MLS Grid
• 2024-09-05 Sold (MLS) $104,000 MIBOR as Distributed by MLS Grid
• 2024-08-22 Pending — MIBOR as Distributed by MLS Grid
• 2024-08-15 Relisted — MIBOR as Distributed by MLS Grid
• 2024-07-29 Pending — MIBOR as Distributed by MLS Grid
• 2024-07-25 Relisted — MIBOR as Distributed by MLS Grid
• 2024-07-18 Pending — MIBOR as Distributed by MLS Grid
• 2024-07-15 Listed $109,000 MIBOR as Distributed by MLS Grid
• 2013-09-21 Listing Removed — MIBOR as Distributed by MLS Grid
• 2012-06-11 Listed $57,500 MIBOR as Distributed by MLS Grid
• 2009-12-31 Listing Removed — MIBOR as Distributed by MLS Grid
• 2009-12-23 Listing Removed — MIBOR as Distributed by MLS Grid
• 2009-07-30 Listed $65,000 MIBOR as Distributed by MLS Grid
• 2009-07-24 Listed $2,300,000 MIBOR as Distributed by MLS Grid
• 2009-02-09 Listing Removed — MIBOR as Distributed by MLS Grid
• 2009-02-09 Sold (MLS) $16,511 MIBOR as Distributed by MLS Grid
• 2008-11-19 Sold (Public Records) $87,428 Public Records
• 2008-11-07 Listed $14,900 MIBOR as Distributed by MLS Grid
• 2006-12-30 Listing Removed — MIBOR as Distributed by MLS Grid
• 2006-11-13 Sold (MLS) $30,000 MIBOR as Distributed by MLS Grid
• 2006-09-21 Listed $25,900 MIBOR as Distributed by MLS Grid
• 2006-08-31 Sold (Public Records) $56,849 Public Records
• 2006-07-31 Listed $36,900 MIBOR as Distributed by MLS Grid
• 2001-05-30 Sold (MLS) $1 MIBOR as Distributed by MLS Grid
• 2001-03-26 Listed $64,900 MIBOR as Distributed by MLS Grid

Property tax history

+6.5%/yr

Latest (2025): $2,510 · +7.8% YoY. Source: county tax records.