285 N Tremont St · Indianapolis city (balance), IN 46222

$105,000

2 bd · 2.0 ba · 1,504 sqft · SingleFamily public records · 30 Days on market

Built 1912 4,051 sqft lot Est $140k · 25% 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 +26.9/30.0
• ARV discount +15.0/15.0
• 1% rule +9.3/10.0
• DSCR +9.3/10.0
• 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 MLS

Grand living in this fabulous & recently renovated gem of a home. Seller has added spectacular upgrades to make this a rare find in this price range. Restored ORIGINAL wood, original beveled glass doors and main flr windows, crown molding, all new full bath on main, new kitchen, all new carpet & paint, E efficient windows. NEW full basement w/roughed in plumbing for 3rd full bathroom, fireproof room & soundproof recording studio. Full deck off master.

Key facts

• 4,051 sq ft lot
• 2 garage spots
• Built 1912

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath single-family listed at $105k.

Deal economics

• At list price, monthly cash flow is $289 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $105k).
• Recommended offer: $103k (1.5% below list) — sets the bar for market timing.
• Cap rate 9.6% 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); 170 active listings in the ZIP; 22 comparable units currently listed for rent nearby; rentals at typical pace (median 24d 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 36% of the median local income ($51k/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 $726 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.

Negotiation context

• It's been on market 30 days — a 2% lower offer ($103k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 16y 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 $55k; list at $105k implies a 91% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 3.5% of price; built in 1912 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $103,425 (1.5% below list)

Questions for the listing agent

1. Built in 1912 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
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: 1.43% ✓
• Cap rate: 9.60%
• Cash-on-cash: 11.81%
• DSCR: 1.53
• GRM: 5.8

CMA / ARV

• ARV (on-the-fly): $139,872
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
18 N Pershing Ave	0.27mi	2/1.0	1,440 (-4%)	8mo	$91,000	$63	70
305 N Tremont St	0.01mi	2/1.0	1,296 (-14%)	3mo	$154,900	$120	70
26 N Holmes Ave	0.40mi	3/2.0 (+1)	1,580 (+5%)	0mo	$165,000	$104	68
562 N Tremont St	0.42mi	3/2.0 (+1)	1,427 (-5%)	0mo	$235,000	$165	67
714 N Tremont St	0.47mi	3/2.0 (+1)	1,430 (-5%)	10mo	$162,500	$114	57
905 N Sheffield Ave	0.60mi	2/1.0	1,544 (+3%)	9mo	$69,000	$45	56
234 N Reisner St	0.55mi	1/1.0 (-1)	1,552 (+3%)	6mo	$144,000	$93	55
2609 Jackson St	0.52mi	3/1.0 (+1)	1,602 (+6%)	2mo	$85,000	$53	54
121 Neal Ave	0.53mi	3/2.0 (+1)	1,618 (+8%)	6mo	$85,000	$53	52
745 N Pershing Ave	0.53mi	3/2.0 (+1)	1,640 (+9%)	6mo	$198,000	$121	50
450 N Concord St	0.60mi	2/1.0	1,344 (-11%)	1mo	$80,000	$60	49
418 N Centennial St	0.73mi	2/1.0	1,582 (+5%)	9mo	$60,000	$38	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 · 2.46% rent growth · sell at horizon

5-year hold

• IRR: 0.7%
• Equity multiple: 1.02×
• Total profit: $733
• Equity at exit: $15,656

10-year hold

• IRR: 9.7%
• Equity multiple: 1.73×
• Total profit: $21,597
• Equity at exit: $9,078

Cash invested: $29,400 (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 46222

• Home prices YoY: -16.7%
• Rents YoY: 2.5%
• Active inventory: 170
• Price-to-rent: 5.8×

Monthly cashflow live

• Estimated rent: $1,506 high
• Mortgage (P&I): −$551
• Tax from tax record: −$306 /mo · $3,675/yr
• Insurance: −$44
• HOA: −$0
• Vacancy / Maint / Mgmt: −$316
• Net cashflow: $289

Break-even live

Break-even rent $1,140

Max offer price $105,000

Occupancy floor 76%

Sensitivity live

Price	-10% $349	-5% $319	+0% $289	+5% $260	+10% $230
Rent	-10% $170	-5% $230	+0% $289	+5% $349	+10% $408
Rate	-1.0pp $342	-0.5pp $316	base $289	+0.5pp $262	+1.0pp $235

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: $26,250
• Closing costs: $3,150
• Reserves months: —
• Total cash needed: —

Rent comps 22 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
261 N Pershing Ave Indianapolis, IN	2.0	2.0	1764	$1,600	$0.91	24d	1	0.04mi
234 N Addison St Indianapolis, IN	3.0	2.0	1892	$1,900	$1.00	44d	1	0.24mi
264 N Holmes Ave Indianapolis, IN	2.0	1.0	1540	$1,199	$0.78	24d	1	0.29mi
264 N Holmes Ave Indianapolis, IN	2.0	1.0	1092	$1,200	$1.10	11d	1	0.29mi
326 N Warman Ave Indianapolis, IN	3.0	2.5	1804	$2,150	$1.19	2d	1	0.37mi
240 N Warman Ave Indianapolis, IN	2.0–3.0	1.0–2.0	1052	$1,150	$1.09	20d	5	0.39mi
156 Haugh St Indianapolis, IN	3.0	2.5	1800	$2,000	$1.11	44d	1	0.44mi
2952 W New York St Indianapolis, IN	2.0	2.5	1882	$2,000	$1.06	2d	1	0.50mi
2952 W New York St Indianapolis, IN	2.0	2.5	1867	$2,000	$1.07	22d	1	0.50mi
955 N Traub Ave Indianapolis, IN	3.0	2.0	1300	$1,449	$1.11	44d	1	0.75mi
545 N Goodlet Ave Indianapolis, IN	3.0	1.0	1664	$1,250	$0.75	24d	1	0.75mi
1023 N Pershing Ave Indianapolis, IN	3.0	1.5	1182	$1,350	$1.14	24d	1	0.78mi
1118 King Ave Indianapolis, IN	3.0	1.0	1560	$1,299	$0.83	16d	1	0.93mi
3531 Garden Ave Indianapolis, IN	3.0	1.0	1264	$1,200	$0.95	44d	1	1.20mi
3531 Garden Ave Indianapolis, IN	3.0	1.0	1264	$1,200	$0.95	24d	1	1.20mi
2015 W Wilkins St Indianapolis, IN	3.0	1.0	1250	$1,895	$1.52	44d	1	1.22mi
925 N Somerset Ave Indianapolis, IN	3.0	1.0	1061	$1,300	$1.23	8d	1	1.31mi
1124 S Reisner St Indianapolis, IN	3.0	2.0	1548	$1,700	$1.10	44d	1	1.32mi
1105 Blaine Ave Indianapolis, IN	1.0–2.0	1.0–2.5	1157	$1,795	$1.55	24d	1	1.33mi
1410 Breedlove Ln Indianapolis, IN	2.0	1.0–2.0	886	$2,557	$2.88	2d	63	1.37mi
1801 W Morris St Indianapolis, IN	3.0	1.5	1056	$1,795	$1.70	44d	1	1.38mi
1201 Indiana Ave Indianapolis, IN	1.0–3.0	1.0–3.5	967	$1,770	$1.83	2d	36	1.49mi

Listing history 7 events

1. 2026-01-07
   status Pending
2. 2025-12-08
   listed $105,000 Active
3. 2011-02-23
   historical 467-char remark

   Show marketing remark (467 chars)

   Grand living in this fabulous & recently renovated gem of a home. Seller has added spectacular upgrades to make this a rare find in this price range. Restored ORIGINAL wood, original beveled glass doors and main flr windows, crown molding, all new full bath on main, new kitchen, all new carpet & paint, E efficient windows. NEW full basement w/roughed in plumbing for 3rd full bathroom, fireproof room & soundproof recording studio. Full deck off master.

4. 2011-02-22
   soldstatus $55,000 467-char remark

   Show marketing remark (467 chars)

   Grand living in this fabulous & recently renovated gem of a home. Seller has added spectacular upgrades to make this a rare find in this price range. Restored ORIGINAL wood, original beveled glass doors and main flr windows, crown molding, all new full bath on main, new kitchen, all new carpet & paint, E efficient windows. NEW full basement w/roughed in plumbing for 3rd full bathroom, fireproof room & soundproof recording studio. Full deck off master.

5. 2011-01-28
   historical

   Show marketing remark (467 chars)

   Grand living in this fabulous & recently renovated gem of a home. Seller has added spectacular upgrades to make this a rare find in this price range. Restored ORIGINAL wood, original beveled glass doors and main flr windows, crown molding, all new full bath on main, new kitchen, all new carpet & paint, E efficient windows. NEW full basement w/roughed in plumbing for 3rd full bathroom, fireproof room & soundproof recording studio. Full deck off master.

6. 2011-01-28
   listed $55,000 467-char remark

   Show marketing remark (467 chars)

   Grand living in this fabulous & recently renovated gem of a home. Seller has added spectacular upgrades to make this a rare find in this price range. Restored ORIGINAL wood, original beveled glass doors and main flr windows, crown molding, all new full bath on main, new kitchen, all new carpet & paint, E efficient windows. NEW full basement w/roughed in plumbing for 3rd full bathroom, fireproof room & soundproof recording studio. Full deck off master.

7. 2010-03-03
   listed $55,000

ⓘ 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: $3,675 · $306/mo
• Projected year-2 tax: $3,675 · $306/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 ≥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: $18,077
• − Mortgage interest: −$5,882
• − Property taxes: −$3,675
• − Insurance: −$525
• − Repairs & maintenance: −$1,446
• − Management: −$1,446
• − Depreciation: −$3,055
• Taxable income: $2,048
• Est. tax owed @ 24.0%: −$492
• After-tax cash flow: $2,981/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

+90.9% since first listed

7 events — show timeline

• 2026-01-07 Pending — NIRA MLS as Distributed by MLS Grid
• 2025-12-08 Listed $105,000 NIRA MLS as Distributed by MLS Grid
• 2011-02-23 Listing Removed — MIBOR as Distributed by MLS Grid
• 2011-02-22 Sold (MLS) $55,000 MIBOR as Distributed by MLS Grid
• 2011-01-28 Listing Removed — MIBOR as Distributed by MLS Grid
• 2011-01-28 Listed $55,000 MIBOR as Distributed by MLS Grid
• 2010-03-03 Listed $55,000 MIBOR as Distributed by MLS Grid

Property tax history

+11.5%/yr

Latest (2025): $3,675 · +45.6% YoY. Source: county tax records.