2341 N Tibbs Ave · Indianapolis city (balance), IN 46222

$84,000

2 bd · 1.0 ba · 725 sqft · SingleFamily public records · 10 Days on market

Built 1949 5,009 sqft lot Est $121k · 31% 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
• DSCR +10.0/10.0
• 1% rule +7.8/10.0
• 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

Discover the charm of 2341 N Tibbs AVE, a delightful 725 sq ft single-family residence built in 1949, perfectly situated in INDIANAPOLIS, IN. This property offers a unique opportunity to embrace comfortable living on a generous 5009 sq ft lot. This inviting home features two comfortable bedrooms, offering flexible spaces for rest and rejuvenation. A well-appointed full bathroom provides convenience and functionality for daily routines. The single-story layout ensures effortless navigation throughout the home. Explore the possibilities this property presents and envision your future at this desirable address.

Key facts

• 5,009 sq ft lot
• Garage
• Built 1949

Property features AI

Finance

• Other: Lot size approximately 0.12 acres (< 1/4 acre); GPS friendly directions; Low-maintenance lifestyle: no

Exterior

• Parking: Gravel parking; Other garage parking
• Security: Security features: see remarks
• Utilities: Public water; Municipal sewer connected; 100 amp electric service; Cable available; electricity, sewer and water connected; Solid waste service available; No on-site fuel source
• Home design: Single-family residence; One-story; Property condition: fixer
• Construction: Aluminum siding exterior; Block foundation
• Exterior features: Front porch; Partial fence; Mature trees; Porch storage

Interior

• Kitchen: Electric cooktop
• Bedrooms: Two bedrooms on the main level; Primary bedroom details: see remarks
• Bathrooms: One full bathroom with a full tub
• Heating & cooling: Electric heating; No central cooling
• Interior features: Attic access via stairway; Storage space
• Laundry & utility: Main-level laundry room (other features)

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $84k.

Deal economics

• At list price, monthly cash flow is $340 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $84k).
• Cap rate 11.1% 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 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.
• Market conditions: Rents rising (+2.5%/yr); 173 active listings in the ZIP; 11 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 weeks tenant-placement turnaround); 1,906 units permitted in Marion County in 2024 (621 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $581 of loan paydown is wiped out by about $3k 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 $24k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• Only 10 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1949 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $84,000

Questions for the listing agent

1. Built in 1949 — 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: 1.28% ✓
• Cap rate: 11.14%
• Cash-on-cash: 17.32%
• DSCR: 1.77
• GRM: 6.5

CMA / ARV

• ARV (on-the-fly): $121,075
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2341 N Tibbs Ave	0.00mi	2/1.0	725 (0%)	0mo	$84,000	$116	100
2225 N Centennial St	0.26mi	2/1.0	725 (0%)	2mo	$140,000	$193	87
2305 N Goodlet Ave	0.22mi	2/1.0	725 (0%)	4mo	$143,000	$197	86
2257 N Goodlet Ave	0.24mi	2/1.0	725 (0%)	5mo	$140,000	$193	84
2473 N Goodlet Ave	0.22mi	2/1.0	725 (0%)	8mo	$117,100	$162	83
2245 N Goodlet Ave	0.26mi	2/1.0	725 (0%)	8mo	$97,500	$134	81
2010 N Exeter Ave	0.47mi	2/1.0	736 (+2%)	8mo	$140,000	$190	69
2020 N Alton Ave	0.40mi	2/1.0	792 (+9%)	2mo	$85,000	$107	64
1700 N Tibbs Ave	0.65mi	2/1.0	750 (+3%)	12mo	$125,000	$167	54
1954 N Exeter Ave	0.52mi	2/1.0	832 (+15%)	1mo	$72,000	$87	51
2036 N Somerset Ave	0.52mi	2/1.0	816 (+13%)	10mo	$139,900	$171	46
1623 N Centennial St	0.74mi	2/2.0	760 (+5%)	10mo	$110,000	$145	45

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: 8.1%
• Equity multiple: 1.31×
• Total profit: $7,405
• Equity at exit: $12,525

10-year hold

• IRR: 16.9%
• Equity multiple: 2.35×
• Total profit: $31,823
• Equity at exit: $7,263

Cash invested: $23,520 (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: 173
• Price-to-rent: 6.5×

Monthly cashflow live

• Estimated rent: $1,078 high
• Mortgage (P&I): −$441
• Tax from tax record: −$37 /mo · $441/yr
• Insurance: −$35
• HOA: −$0
• Vacancy / Maint / Mgmt: −$226
• Net cashflow: $340

Break-even live

Break-even rent $648

Max offer price $84,000

Occupancy floor 64%

Sensitivity live

Price	-10% $387	-5% $363	+0% $340	+5% $316	+10% $292
Rent	-10% $254	-5% $297	+0% $340	+5% $382	+10% $425
Rate	-1.0pp $382	-0.5pp $361	base $340	+0.5pp $318	+1.0pp $296

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: $21,000
• Closing costs: $2,520
• Reserves months: —
• Total cash needed: —

Rent comps 11 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2418 N Centennial St Indianapolis, IN	2.0	1.0	725	$1,099	$1.52	45d	1	0.09mi
3621 Lawnview Ln Indianapolis, IN	1.0–4.0	1.0–1.5	1012	$1,026	$1.01	3d	13	0.25mi
2774 Pixel DR Indianapolis, IN	1.0	1.0	750	$1,100	$1.47	45d	1	0.34mi
2014 N Exeter Ave Indianapolis, IN	2.0	1.0	660	$1,295	$1.96	8d	1	0.47mi
2930 Lafayette Rd Indianapolis, IN	2.0	1.0	642	$1,108	$1.72	3d	5	0.59mi
3215 N Alton Ave Indianapolis, IN	1.0–3.0	1.0–2.0	970	$1,214	$1.25	3d	16	0.92mi
3215 N Alton Ave Unit 3348-108 Indianapolis, IN	1.0	1.0	662	$849	$1.28	15d	1	0.93mi
3215 N Alton Ave Unit 3230-207 Indianapolis, IN	1.0	1.0	662	$829	$1.25	24d	1	0.93mi
3215 N Alton Ave Unit 3328-206 Indianapolis, IN	1.0	1.0	662	$829	$1.25	23d	1	0.93mi
1165 N Concord St Indianapolis, IN	1.0	1.0	695	$775	$1.12	45d	1	1.15mi
1411 N Pershing Ave Indianapolis, IN	1.0	1.0	700	$850	$1.21	45d	1	1.29mi

Listing history 1 events

1. 2026-05-19
   listed $84,000 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: $441 · $37/mo
• Projected year-2 tax: $578 · $48/mo
• Expected delta: +$136/yr (+$11/mo · 30.9%)

ⓘ 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: $12,939
• − Mortgage interest: −$4,705
• − Property taxes: −$441
• − Insurance: −$420
• − Repairs & maintenance: −$1,035
• − Management: −$1,035
• − Depreciation: −$2,444
• Taxable income: $2,858
• Est. tax owed @ 24.0%: −$686
• After-tax cash flow: $3,388/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

+0.0% since first listed

3 events — show timeline

• 2026-06-09 Sold (MLS) $84,000 MIBOR as Distributed by MLS Grid
• 2026-05-29 Pending — MIBOR as Distributed by MLS Grid
• 2026-05-19 Listed $84,000 MIBOR as Distributed by MLS Grid

Property tax history

+4.8%/yr

Latest (2025): $441 · -20.7% YoY. Source: county tax records.