8246 E 41st Pl · Indianapolis city (balance), IN 46226

$124,900

3 bd · 1.0 ba · 864 sqft · SingleFamily public records · 35 Days on market

Built 1961 6,098 sqft lot Est $140k · 11% under

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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 +22.7/30.0
• ARV discount +12.3/15.0
• DSCR +7.3/10.0
• 1% rule +6.1/10.0
• Rent growth +4.2/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.4/10.0
• Appreciation +0.0/10.0

Listing remarks

Charming 3-bedroom, 1 full bath home - perfect for a first-time buyer! This move-in ready property features fresh paint, new flooring, and a roof replaced approximately 4 years ago. Just bring your furniture and make it your own. Enjoy a fenced rear yard, ideal for entertaining, pets, or relaxing outdoors. Conveniently located close to shopping and everyday amenities. Buyer and buyer's agent to verify all room dimensions and information. Details are believed to be accurate but are not guaranteed.

Key facts

• Fresh paint
• New flooring
• Roof replaced

Tags

• FENCED REAR YARD
• FRESH PAINT
• NEW FLOORING
• ROOF REPLACED

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $125k.

Deal economics

• At list price, monthly cash flow is $214 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $125k).
• Recommended offer: $121k (3.0% below list) — sets the bar for market timing.
• Cap rate 8.4% 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 (+6.8%/yr); 153 active listings in the ZIP; 20 comparable units currently listed for rent nearby; rentals at typical pace (median 25d 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 33% of the median local income ($50k/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 $864 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 + 6.8% rent growth), your $35k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 35 days — a 3% lower offer ($121k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 26y ago; this cycle's ask has dropped $15k (11%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $48k; list at $125k implies a 158% gain — meaningful room to come down on a strong offer.

Recommended offer $121,153 (3.0% below list)

Questions for the listing agent

1. It's been on market 35 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1961 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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.
5. 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.
6. 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: 1.11% ✓
• Cap rate: 8.35%
• Cash-on-cash: 7.35%
• DSCR: 1.33
• GRM: 7.5

CMA / ARV

• ARV (on-the-fly): $139,968
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
8246 E 41st Pl	0.00mi	3/1.0	864 (0%)	1mo	$120,500	$139	100
8340 E 41st Pl	0.09mi	3/1.0	864 (0%)	1mo	$140,000	$162	95
3965 Alsace Pl	0.24mi	3/1.0	864 (0%)	9mo	$189,000	$219	81
8242 E 42nd St	0.06mi	3/1.5	936 (+8%)	2mo	$165,000	$176	80
8508 Georgiana Ln	0.31mi	3/1.0	864 (0%)	14mo	$150,000	$174	74
8442 Georgiana Ln	0.33mi	3/1.0	864 (0%)	19mo	$66,000	$76	69
4103 Aspen Way	0.13mi	3/1.0	936 (+8%)	16mo	$140,000	$150	66
8724 Montery Rd	0.45mi	3/1.0	925 (+7%)	2mo	$134,900	$146	66
3938 Biscayne Rd	0.53mi	3/1.0	925 (+7%)	0mo	$132,000	$143	63
8908 Elmonte Dr	0.60mi	3/1.0	925 (+7%)	16mo	$132,500	$143	47
3703 Dubarry Rd	0.68mi	3/1.0	925 (+7%)	13mo	$150,000	$162	46
8209 E 36th Pl	0.71mi	3/2.0	959 (+11%)	16mo	$191,000	$199	31

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 · 6.76% rent growth · sell at horizon

5-year hold

• IRR: -0.8%
• Equity multiple: 0.97×
• Total profit: $-1,113
• Equity at exit: $18,623

10-year hold

• IRR: 12.5%
• Equity multiple: 2.17×
• Total profit: $40,900
• Equity at exit: $10,799

Cash invested: $34,972 (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 46226

• Rents YoY: 6.8%
• Active inventory: 153
• Price-to-rent: 7.5×

Monthly cashflow live

• Estimated rent: $1,388 high
• Mortgage (P&I): −$655
• Tax from tax record: −$175 /mo · $2,106/yr
• Insurance: −$52
• HOA: −$0
• Vacancy / Maint / Mgmt: −$292
• Net cashflow: $214

Break-even live

Break-even rent $1,117

Max offer price $124,900

Occupancy floor 80%

Sensitivity live

Price	-10% $285	-5% $250	+0% $214	+5% $179	+10% $144
Rent	-10% $105	-5% $159	+0% $214	+5% $269	+10% $324
Rate	-1.0pp $277	-0.5pp $246	base $214	+0.5pp $182	+1.0pp $149

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: $31,225
• Closing costs: $3,747
• Reserves months: —
• Total cash needed: —

Rent comps 20 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4315 Aspen Way Indianapolis, IN	3.0	1.0	1080	$1,380	$1.28	44d	1	0.23mi
8724 Montery Rd Indianapolis, IN	3.0	1.0	925	$1,500	$1.62	44d	1	0.44mi
7925 Crossbridge Dr Indianapolis, IN	2.0	2.0	1072	$1,200	$1.12	44d	1	0.47mi
3938 Biscayne Rd Indianapolis, IN	3.0	1.0	1000	$1,895	$1.90	4d	1	0.53mi
7975 Red Mill Dr Indianapolis, IN	2.0	1.0	576	$975	$1.69	44d	1	0.56mi
8862 Bel Air Ct Indianapolis, IN	3.0	1.0	1073	$1,264	$1.18	18d	1	0.61mi
3809 Biscayne Rd Indianapolis, IN	2.0	1.5	992	$1,020	$1.03	15d	1	0.64mi
9060 E 39th Pl Indianapolis, IN	1.0–2.0	1.0–1.5	820	$1,040	$1.27	24d	1	0.80mi
3631 Decamp Dr Indianapolis, IN	3.0	1.0	1000	$1,335	$1.33	24d	1	0.86mi
9438 Conried Dr Indianapolis, IN	3.0	1.0	1094	$1,445	$1.32	5d	1	1.10mi
9226 E 36th Pl Indianapolis, IN	3.0	1.0	1073	$1,250	$1.16	8d	1	1.18mi
7838 Ridgewood Dr Indianapolis, IN	3.0	2.0	936	$1,540	$1.65	44d	1	1.19mi
7838 Ridgewood Dr Indianapolis, IN	3.0	2.0	936	$1,540	$1.65	24d	1	1.19mi
3775 Allerton Pl Indianapolis, IN	1.0–4.0	2.0	1068	$1,617	$1.51	14d	1	1.23mi
3226 Wellington Ave Indianapolis, IN	3.0	1.0	900	$1,149	$1.28	11d	1	1.28mi
3900 N Shadeland Ave Indianapolis, IN	1.0–2.0	1.0	1070	$1,075	$1.00	4d	6	1.35mi
3525 Luewan Ct Indianapolis, IN	4.0	1.0	1107	$1,750	$1.58	24d	1	1.36mi
7171 Twin Oaks Dr Indianapolis, IN	3.0	1.0–1.5	801	$1,399	$1.75	24d	9	1.38mi
3519 Jerome Ct Indianapolis, IN	4.0	1.0	1107	$1,995	$1.80	24d	1	1.41mi
3962 Strathmore Dr Indianapolis, IN	3.0	1.0	925	$1,250	$1.35	24d	1	1.41mi

Listing history 16 events

1. 2026-04-06
   status Pending
2. 2026-04-01
   price $124,900
3. 2026-03-21
   price $129,900
4. 2026-03-14
   price $134,900
5. 2026-02-28
   listed $140,000 Active
6. 2008-09-30
   historical
7. 2008-06-20
   listed $49,900
8. 2008-06-20
   historical
9. 2008-03-25
   listed $49,900
10. 2003-09-05
    soldstatus $48,500
11. 2003-05-16
    listed $50,000
12. 2001-02-05
    historical
13. 2000-12-05
    soldstatus $60,001
14. 2000-11-30
    soldstatus
15. 2000-10-03
    listed $59,900
16. 2000-08-07
    listed $66,500

ⓘ 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: $2,106 · $175/mo
• Projected year-2 tax: $2,106 · $175/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 ≥101°F today · 18 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 0% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $16,659
• − Mortgage interest: −$6,996
• − Property taxes: −$2,106
• − Insurance: −$624
• − Repairs & maintenance: −$1,333
• − Management: −$1,333
• − Depreciation: −$3,633
• Taxable income: $634
• Est. tax owed @ 24.0%: −$152
• After-tax cash flow: $2,418/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): 47,099
• Household income: $50,325
• Rent vs Own: 53.8% rent · 46.2% own
• Severe rent burden: 2742.0

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 0.62)
• Race & ethnicity: Black 53% White 25% Hispanic / Latino 17% Two or more races 9% Asian 2%
• Hispanic origin (detail): Mexican 11%
• Common ancestry: Lithuanian 1% Italian 1% Romanian 1%
• Foreign-born: 11% · Canada
• Languages at home: 86% English-only · Spanish 10% French/Haitian/Cajun 1% Other Asian/Pacific 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: ▼ -218.85%
• Current HPI: 239.43
• Rent YoY: ▲ 6.76%
• 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

+87.8% since first listed

16 events — show timeline

• 2026-04-06 Pending — MIBOR as Distributed by MLS Grid
• 2026-04-01 Price Changed $124,900 MIBOR as Distributed by MLS Grid
• 2026-03-21 Price Changed $129,900 MIBOR as Distributed by MLS Grid
• 2026-03-14 Price Changed $134,900 MIBOR as Distributed by MLS Grid
• 2026-02-28 Listed $140,000 MIBOR as Distributed by MLS Grid
• 2008-09-30 Listing Removed — MIBOR as Distributed by MLS Grid
• 2008-06-20 Listed $49,900 MIBOR as Distributed by MLS Grid
• 2008-06-20 Listing Removed — MIBOR as Distributed by MLS Grid
• 2008-03-25 Listed $49,900 MIBOR as Distributed by MLS Grid
• 2003-09-05 Sold (MLS) $48,500 MIBOR as Distributed by MLS Grid
• 2003-05-16 Listed $50,000 MIBOR as Distributed by MLS Grid
• 2001-02-05 Listing Removed — MIBOR as Distributed by MLS Grid
• 2000-12-05 Sold (Public Records) $60,001 Public Records
• 2000-11-30 Sold (MLS) — MIBOR as Distributed by MLS Grid
• 2000-10-03 Listed $59,900 MIBOR as Distributed by MLS Grid
• 2000-08-07 Listed $66,500 MIBOR as Distributed by MLS Grid

Property tax history

+9.3%/yr

Latest (2025): $2,106 · -6.0% YoY. Source: county tax records.