1222 N Gale St · Indianapolis city (balance), IN 46201

$130,000

3 bd · 1.5 ba · 1,575 sqft · SingleFamily public records · 75 Days on market

Built 1911 9,600 sqft lot $83/sqft · at area comps Est $192k · 32% under ↓ 10% since listing

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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 +18.2/30.0
• ARV discount +15.0/15.0
• DSCR +5.7/10.0
• 1% rule +5.6/10.0
• Rent growth +4.3/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.4/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

RENTED FOR $1,575/MONTH, this Near Eastside single-family is generating income on day one with a lease in place through June 2026. Minutes from downtown Indianapolis and Brookside Park, this is a straightforward add to any rental portfolio with no work required.

Key facts

• 9,600 sq ft lot
• Built 1911
• Listed 75 days

🏷️ Possibly a rental listed for sale. The $130,000 price doesn't fit this home's estimated sale value (~$192,209) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $130k.

Deal economics

• At list price, monthly cash flow is $117 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $130k).
• Recommended offer: $122k (6.0% below list) — sets the bar for market timing.
• Cap rate 7.4% 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 fast (+7.3%/yr); 480 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 48% of comp listings sitting > 30 days — soft ceiling on asking rent; 1,906 units permitted in Marion County in 2024 (621 in 5+ unit buildings).
• This rent runs 34% of the median local income ($49k/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 $899 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.
• At projected returns (-3.0% appreciation + 7.3% rent growth), your $36k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 75 days — a 6% lower offer ($122k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $15k (10%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1911 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $122,200 (6.0% below list)

Questions for the listing agent

1. It's been on market 75 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1911 — 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. 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.
6. 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.
7. 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: 1.06% ✓
• Cap rate: 7.37%
• Cash-on-cash: 3.85%
• DSCR: 1.17
• GRM: 7.8

CMA / ARV

• ARV (median comp): $192,209
• List price: $130,000
• Delta: -32.37%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
914 N Ewing St	0.32mi	3/2.0	1,560 (-1%)	1mo	$205,000	$131	80
1126 N Lasalle St	0.21mi	2/1.0 (-1)	1,500 (-5%)	1mo	$175,000	$117	74
741 N Denny St	0.57mi	3/2.0	1,558 (-1%)	1mo	$169,900	$109	69
818 N Oakland Ave	0.56mi	3/1.0	1,653 (+5%)	4mo	$128,000	$77	61
718 N Denny St	0.59mi	3/2.0	1,671 (+6%)	0mo	$176,000	$105	60
733 N Grant Ave	0.67mi	2/2.0 (-1)	1,560 (-1%)	2mo	$120,000	$77	59
1315 N Grant Ave N	0.43mi	3/2.5	1,404 (-11%)	2mo	$250,000	$178	56
3832 E 10th St	0.32mi	2/1.0 (-1)	1,792 (+14%)	3mo	$80,000	$45	53
1521 N Gladstone Ave	0.57mi	2/1.0 (-1)	1,712 (+9%)	1mo	$50,000	$29	51
2838 E 19th St	0.75mi	2/1.0 (-1)	1,636 (+4%)	2mo	$157,000	$96	50
1526 N Euclid Ave	0.65mi	3/2.0	1,755 (+11%)	2mo	$240,000	$137	47
1738 N Parker Ave	0.62mi	4/2.0 (+1)	1,736 (+10%)	1mo	$110,000	$63	46

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 · 7.31% rent growth · sell at horizon

5-year hold

• IRR: -5.1%
• Equity multiple: 0.80×
• Total profit: $-7,312
• Equity at exit: $19,383

10-year hold

• IRR: 9.3%
• Equity multiple: 1.87×
• Total profit: $31,521
• Equity at exit: $11,240

Cash invested: $36,400 (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 46201

• Home prices YoY: -33.9%
• Rents YoY: 7.3%
• Active inventory: 480
• Price-to-rent: 7.8×

Monthly cashflow live

• Estimated rent: $1,381 high
• Mortgage (P&I): −$682
• Tax from tax record: −$239 /mo · $2,864/yr
• Insurance: −$54
• HOA: −$0
• Vacancy / Maint / Mgmt: −$290
• Net cashflow: $117

Break-even live

Break-even rent $1,234

Max offer price $130,000

Occupancy floor 87%

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: $32,500
• Closing costs: $3,900
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1323 N Olney St Indianapolis, IN	2.0	1.0	1288	$945	$0.73	43d	1	0.10mi
1015 N Gale St Indianapolis, IN	3.0	2.0	1200	$1,550	$1.29	14d	1	0.14mi
1018 N Tuxedo St Unit 1016 Indianapolis, IN	3.0	1.5	1250	$1,099	$0.88	43d	1	0.20mi
1421 N Olney St Indianapolis, IN	2.0	1.0	1064	$975	$0.92	10d	1	0.23mi
953 N Tuxedo St Indianapolis, IN	3.0	1.0	1200	$950	$0.79	23d	1	0.25mi
1519 N Gale St Indianapolis, IN	2.0	1.5	1552	$1,295	$0.83	43d	1	0.26mi
1119 N Dearborn St Indianapolis, IN	3.0	1.5	1200	$1,249	$1.04	43d	1	0.27mi
1521 N Kealing Ave Indianapolis, IN	3.0	1.0	1250	$1,250	$1.00	17d	1	0.30mi
1531 N Kealing Ave Unit A Indianapolis, IN	3.0	2.0	1250	$1,397	$1.12	23d	1	0.31mi
1531 N Kealing Ave Indianapolis, IN	3.0	2.0	1250	$1,500	$1.20	23d	1	0.31mi
1424 N Denny St Indianapolis, IN	3.0	1.0	1206	$1,295	$1.07	43d	1	0.31mi
1216 N Oakland Ave Indianapolis, IN	3.0	2.0	1464	$1,550	$1.06	14d	1	0.35mi
1214 N Oakland Ave Indianapolis, IN	3.0	2.0	1464	$1,350	$0.92	14d	1	0.36mi
909 N Lasalle St Indianapolis, IN	3.0	2.0	1717	$1,600	$0.93	44d	1	0.36mi
933 N Dearborn St Indianapolis, IN	3.0	1.5	1204	$1,500	$1.25	43d	1	0.37mi
840 N Lasalle St Indianapolis, IN	3.0	1.0	1215	$1,100	$0.91	23d	1	0.43mi
1038 N Parker Ave Indianapolis, IN	4.0	2.0	1342	$1,745	$1.30	4d	1	0.44mi
1036 N Parker Ave Indianapolis, IN	4.0	2.0	1342	$1,745	$1.30	4d	1	0.44mi
822 N Bradley Ave Unit 822 Indianapolis, IN	3.0	1.0	1100	$1,200	$1.09	43d	1	0.47mi
1113 N Oxford St Indianapolis, IN	3.0	2.0	1100	$1,495	$1.36	7d	1	0.48mi
849 N Oakland Ave Indianapolis, IN	4.0	3.0	1638	$2,350	$1.43	12d	1	0.50mi
639 N Gray St Indianapolis, IN	3.0	1.5	1120	$1,220	$1.09	43d	1	0.55mi
637 N Gray St Indianapolis, IN	3.0	1.5	1120	$1,150	$1.03	44d	1	0.55mi
818 N Oakland Ave Unit 46201 Indianapolis, IN	3.0	1.5	1332	$1,550	$1.16	43d	1	0.55mi
1112 N Rural St Unit 1110 Indianapolis, IN	2.0	1.5	1204	$1,150	$0.96	23d	1	0.58mi
603 N Sherman Dr Indianapolis, IN	3.0	1.0	1250	$1,300	$1.04	43d	1	0.61mi
849 N Rural St Unit 849 Indianapolis, IN	3.0	2.5	1300	$2,000	$1.54	43d	1	0.64mi
1550 N Rural St Indianapolis, IN	3.0	1.0	1388	$1,600	$1.15	43d	1	0.64mi
851 N Rural St Indianapolis, IN	3.0	2.5	1300	$1,700	$1.31	23d	1	0.65mi
960 Eastern Ave Indianapolis, IN	3.0	1.5	1616	$1,500	$0.93	23d	1	0.65mi
960 Eastern Ave Indianapolis, IN	3.0	1.5	1616	$1,500	$0.93	43d	1	0.65mi
645 N Oxford St Indianapolis, IN	4.0	1.5	1344	$1,500	$1.12	23d	1	0.66mi
1623 N Rural St Indianapolis, IN	2.0	1.0	1452	$875	$0.60	43d	1	0.66mi
852 N Rural St Indianapolis, IN	2.0	1.5	1528	$1,300	$0.85	23d	1	0.67mi
801 N Gladstone Ave Indianapolis, IN	3.0	1.5	1776	$1,225	$0.69	43d	1	0.69mi
447 N Sherman Dr Indianapolis, IN	3.0	1.5	1312	$1,195	$0.91	43d	1	0.70mi
1927 N Dearborn St Indianapolis, IN	3.0	1.0	2182	$1,495	$0.69	43d	1	0.71mi
1938 N Dearborn St Indianapolis, IN	3.0	1.0	1162	$1,400	$1.20	23d	1	0.72mi
442 N Denny St Indianapolis, IN	3.0	1.0	1140	$1,045	$0.92	23d	1	0.72mi
619 N Rural St Indianapolis, IN	3.0	2.0	1300	$1,600	$1.23	23d	1	0.75mi

Listing history 5 events

1. 2026-04-03
   price $130,000 262-char remark

   Show marketing remark (262 chars)

   RENTED FOR $1,575/MONTH, this Near Eastside single-family is generating income on day one with a lease in place through June 2026. Minutes from downtown Indianapolis and Brookside Park, this is a straightforward add to any rental portfolio with no work required.

2. 2026-03-16
   status Active 262-char remark

   Show marketing remark (262 chars)

   RENTED FOR $1,575/MONTH, this Near Eastside single-family is generating income on day one with a lease in place through June 2026. Minutes from downtown Indianapolis and Brookside Park, this is a straightforward add to any rental portfolio with no work required.

3. 2026-02-26
   status Pending 262-char remark

   Show marketing remark (262 chars)

   RENTED FOR $1,575/MONTH, this Near Eastside single-family is generating income on day one with a lease in place through June 2026. Minutes from downtown Indianapolis and Brookside Park, this is a straightforward add to any rental portfolio with no work required.

4. 2026-02-17
   listed $144,900 Active 262-char remark

   Show marketing remark (262 chars)

   RENTED FOR $1,575/MONTH, this Near Eastside single-family is generating income on day one with a lease in place through June 2026. Minutes from downtown Indianapolis and Brookside Park, this is a straightforward add to any rental portfolio with no work required.

5. 2023-05-29
   historical

ⓘ 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: $2,864 · $239/mo
• Projected year-2 tax: $2,864 · $239/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 · 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: $16,577
• − Mortgage interest: −$7,282
• − Property taxes: −$2,864
• − Insurance: −$650
• − Repairs & maintenance: −$1,326
• − Management: −$1,326
• − Depreciation: −$3,782
• Taxable loss: −$653
• Est. tax savings @ 24.0%: +$157
• After-tax cash flow: $1,558/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): 30,335
• Household income: $49,195
• Rent vs Own: 48.4% rent · 51.6% own
• Severe rent burden: 1906.0

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 0.63)
• Race & ethnicity: White 53% Hispanic / Latino 23% Black 18% Two or more races 9%
• Hispanic origin (detail): Mexican 14% Puerto Rican 2%
• Common ancestry: Slovak 2% Lithuanian 2% Italian 1%
• Foreign-born: 9% · Canada
• Languages at home: 81% English-only · Spanish 17%

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: ▼ -192.51%
• Current HPI: 375.0969
• Rent YoY: ▲ 7.31%
• 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

-10.3% since first listed

5 events — show timeline

• 2026-04-03 Price Changed $130,000 MIBOR as Distributed by MLS Grid
• 2026-03-16 Relisted — MIBOR as Distributed by MLS Grid
• 2026-02-26 Pending — MIBOR as Distributed by MLS Grid
• 2026-02-17 Listed $144,900 MIBOR as Distributed by MLS Grid
• 2023-05-29 Rental Removed — RENT.

Property tax history

+21.6%/yr

Latest (2025): $2,864 · +9.3% YoY. Source: county tax records.