2165 White Ave · Indianapolis city (balance), IN 46202

$110,000

3 bd · 1.0 ba · 920 sqft · SingleFamily public records · 45 Days on market

Built 1960 4,704 sqft lot $120/sqft · 30% below area Est $157k · 30% 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 +27.9/30.0
• ARV discount +15.0/15.0
• DSCR +9.9/10.0
• 1% rule +7.5/10.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Rent growth +2.4/5.0
• Schools +1.4/10.0
• Appreciation +0.0/10.0

Listing remarks

This 3-bedroom, 1 full bathroom home is a great addition to any investor's portfolio. The property is currently tenant-occupied, providing immediate rental income from day one. Tenants' rights apply, making this an ideal opportunity for buyers looking for a seamless, income-producing asset. This property is being offered as part of a portfolio sale alongside 857 W 25th Street, creating a unique opportunity to expand your holdings with multiple income streams. Whether you're a seasoned investor or looking to grow your rental portfolio, this package offers strong potential and long-term value.

Key facts

• 4,704 sq ft lot
• Built 1960
• Listed 45 days

Property features AI

Exterior

• Utilities: Public water; Municipal sewer connected
• Home design: Single-family residence; One story
• Construction: Wood siding; Slab foundation
• Exterior features: Lot under 1/4 acre

Interior

• Kitchen: Gas oven; Refrigerator
• Bedrooms: 3 bedrooms (all on the main level)
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating (natural gas); Central air conditioning
• Interior features: Dining room; Living room
• Laundry & utility: Washer; Dryer

🏷️ Possibly a rental listed for sale. The $110,000 price doesn't fit this home's estimated sale value (~$156,843) 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/1.0-bath single-family listed at $110k.

Deal economics

• At list price, monthly cash flow is $338 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $110k).
• Recommended offer: $107k (3.0% below list) — sets the bar for market timing.
• Cap rate 10.0% 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 soft (-0.4%/yr); 262 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); 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 $761 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 45 days — a 3% lower offer ($107k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 3y ago; this cycle's ask has dropped $10k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Recommended offer $106,700 (3.0% below list)

Questions for the listing agent

1. It's been on market 45 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 1960 — 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: 1.25% ✓
• Cap rate: 9.99%
• Cash-on-cash: 13.19%
• DSCR: 1.59
• GRM: 6.7

CMA / ARV

• ARV (median comp): $156,843
• List price: $110,000
• Delta: -29.87%
• 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
2126 White Ave	0.07mi	3/1.0	920 (0%)	18mo	$133,000	$145	82
1006 Edgemont Ave	0.45mi	3/1.0	954 (+4%)	3mo	$75,000	$79	71
2023 Gent Ave	0.16mi	2/1.5 (-1)	875 (-5%)	23mo	$179,750	$205	58
2171 Sugar Grove Ave	0.07mi	3/2.0	1,050 (+14%)	16mo	$225,000	$214	56
2142 Gent Ave	0.06mi	3/2.0	1,057 (+15%)	15mo	$200,000	$189	56
1802 Sugar Grove Ave	0.41mi	3/1.0	1,008 (+10%)	11mo	$135,000	$134	56
2041 N Dexter St	0.17mi	3/2.0	1,050 (+14%)	10mo	$227,500	$217	56
2193 N Dexter St	0.13mi	3/2.0	1,050 (+14%)	14mo	$225,000	$214	55
2189 N Dexter St	0.13mi	3/2.0	1,050 (+14%)	16mo	$225,000	$214	53
2145 Sugar Grove Ave	0.07mi	3/2.0	1,050 (+14%)	21mo	$222,500	$212	52
1309 W 26th St	0.45mi	3/2.0	1,050 (+14%)	1mo	$210,000	$200	51
1156 Udell St	0.72mi	2/1.0 (-1)	808 (-12%)	15mo	$137,000	$170	29

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 · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -0.3%
• Equity multiple: 0.99×
• Total profit: $-284
• Equity at exit: $16,401

10-year hold

• IRR: 6.0%
• Equity multiple: 1.39×
• Total profit: $11,992
• Equity at exit: $9,511

Cash invested: $30,800 (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 46202

• Home prices YoY: -26.2%
• Rents YoY: -0.4%
• Active inventory: 262
• Price-to-rent: 6.7×

Monthly cashflow live

• Estimated rent: $1,375 high
• Mortgage (P&I): −$577
• Tax from tax record: −$125 /mo · $1,501/yr
• Insurance: −$46
• HOA: −$0
• Vacancy / Maint / Mgmt: −$289
• Net cashflow: $338

Break-even live

Break-even rent $947

Max offer price $110,000

Occupancy floor 70%

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: $27,500
• Closing costs: $3,300
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1367 W Pruitt St Indianapolis, IN	3.0	1.0	1088	$1,450	$1.33	43d	1	0.19mi
2248 N Harding St Indianapolis, IN	2.0	1.0	1100	$899	$0.82	23d	1	0.24mi
1415 W Pruitt St Indianapolis, IN	3.0	1.0	1001	$1,249	$1.25	23d	1	0.24mi
1244 Edgemont Ave Indianapolis, IN	2.0	1.0	1092	$1,275	$1.17	43d	1	0.35mi
1228 W 18th St Indianapolis, IN	2.0	1.0	1050	$1,200	$1.14	43d	1	0.39mi
970 Edgemont Ave Indianapolis, IN	2.0	1.0	740	$845	$1.14	4d	1	0.49mi
906 Burdsal Pkwy Indianapolis, IN	2.0	1.0	936	$1,295	$1.38	23d	1	0.52mi
908 Burdsal Pkwy Marion, IN	2.0	1.0	936	$1,300	$1.39	23d	1	0.52mi
1319 W 27th St Indianapolis, IN	2.0	1.0	651	$900	$1.38	12d	1	0.58mi
1519 W 28th St Indianapolis, IN	2.0	1.0	816	$895	$1.10	43d	1	0.71mi
1410 Breedlove Ln Indianapolis, IN	2.0	1.0–2.0	886	$2,557	$2.88	1d	63	0.74mi
1227 W 29th St Indianapolis, IN	3.0	1.5	1056	$1,250	$1.18	23d	1	0.76mi
2235 Doctor Martin Luther King Junior St Indianapolis, IN	3.0	1.5	948	$1,700	$1.79	43d	1	0.80mi
1457 W 29th St Indianapolis, IN	2.0	1.0	686	$995	$1.45	20d	1	0.81mi
524 W 23rd St Indianapolis, IN	2.0	1.0	664	$949	$1.43	43d	1	0.83mi
1201 Indiana Ave Indianapolis, IN	1.0–3.0	1.0–3.5	967	$2,404	$2.49	1d	36	0.85mi
1441 W Lynn Dr Indianapolis, IN	3.0	2.0	967	$1,550	$1.60	43d	1	1.02mi
1150 N White River Pkwy West Dr Indianapolis, IN	1.0–2.0	1.0	722	$1,224	$1.69	2d	9	1.05mi
2106 Cold Spring Rd Indianapolis, IN	2.0	1.0–1.5	940	$1,189	$1.26	3d	4	1.05mi
516 W 28th St Indianapolis, IN	2.0	1.0	1005	$1,100	$1.09	23d	1	1.06mi
1261 W 32nd St Indianapolis, IN	2.0	1.0	832	$975	$1.17	43d	1	1.10mi
1401 Doctor Martin Luther King Junior St Indianapolis, IN	1.0–2.0	1.0	982	$1,875	$1.91	14d	1	1.14mi
2602 Mansion Dr Indianapolis, IN	2.0–3.0	2.0	1850	$1,675	$0.91	7d	6	1.14mi
930 W 10th St Indianapolis, IN	1.0–4.0	1.0–4.0	874	$3,144	$3.59	4d	1	1.15mi
1470 W 32nd St Indianapolis, IN	2.0	1.0	700	$1,000	$1.43	43d	1	1.16mi
926 W 32nd St Indianapolis, IN	3.0	2.0	1050	$1,295	$1.23	7d	1	1.19mi
1226 Doctor Martin Luther King Junior St Indianapolis, IN	1.0–3.0	1.0–3.5	1067	$2,285	$2.14	1d	10	1.20mi
735 W 11th St Indianapolis, IN	2.0	1.0	712	$1,398	$1.96	43d	1	1.22mi
3017 Ethel Ave Indianapolis, IN	3.0	1.5	1079	$1,400	$1.30	23d	1	1.25mi
2701 W 17th St Indianapolis, IN	2.0	1.0	810	$899	$1.11	7d	1	1.27mi
3440 N Harding St Indianapolis, IN	2.0	1.0	754	$1,275	$1.69	20d	1	1.31mi
3440 N Harding St Indianapolis, IN	2.0	1.0	754	$1,325	$1.76	43d	1	1.31mi
2808 N Capitol Ave Indianapolis, IN	2.0	1.0	900	$975	$1.08	23d	1	1.37mi
1409 N Warman Ave Indianapolis, IN	2.0	1.0	816	$1,300	$1.59	20d	1	1.39mi
55 W Fall Creek Parkway South Dr Unit C Indianapolis, IN	2.0	1.0	1000	$1,035	$1.03	43d	1	1.39mi
1039 W 36th St Indianapolis, IN	2.0	1.0	864	$995	$1.15	43d	1	1.41mi
75 W 18th St Indianapolis, IN	1.0–2.0	1.0–2.0	845	$2,395	$2.83	16d	8	1.42mi
1155 N Holmes Ave Indianapolis, IN	3.0	1.0	952	$2,800	$2.94	3d	1	1.43mi
2131 N Meridian St Indianapolis, IN	2.0	1.0	994	$1,455	$1.46	43d	1	1.44mi
2011 N Kessler Boulevard Dr Indianapolis, IN	3.0	1.0	888	$1,375	$1.55	23d	1	1.44mi

Listing history 20 events

1. 2026-06-18
   days on market $110,000 Active 45 DOM
2. 2026-06-17
   days on market $110,000 Active 44 DOM
3. 2026-06-16
   days on market $110,000 Active 43 DOM
4. 2026-06-15
   days on market $110,000 Active 42 DOM
5. 2026-06-13
   days on market $110,000 Active 40 DOM
6. 2026-06-13
   pricedays on market $110,000 Active 39 DOM
7. 2026-06-09
   days on market $115,000 Active 36 DOM
8. 2026-06-08
   days on market $115,000 Active 35 DOM
9. 2026-06-07
   days on market $115,000 Active 34 DOM
10. 2026-06-03
    days on market $115,000 Active 30 DOM
11. 2026-06-02
    days on market $115,000 Active 29 DOM
12. 2026-06-01
    days on market $115,000 Active 28 DOM
13. 2026-05-31
    days on market $115,000 Active 27 DOM
14. 2026-05-04
    listed $120,000 Active 611-char remark
15. 2024-04-30
    historical $895
16. 2024-03-26
    price $895
17. 2024-03-13
    price $940
18. 2024-02-13
    price $990
19. 2024-01-31
    price $1,045
20. 2023-12-30
    listed $1,100

ⓘ 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: $1,501 · $125/mo
• Projected year-2 tax: $1,501 · $125/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: $16,500
• − Mortgage interest: −$6,162
• − Property taxes: −$1,501
• − Insurance: −$550
• − Repairs & maintenance: −$1,320
• − Management: −$1,320
• − Depreciation: −$3,200
• Taxable income: $2,447
• Est. tax owed @ 24.0%: −$587
• After-tax cash flow: $3,474/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): 20,180
• Household income: $63,506
• Rent vs Own: 70.6% rent · 29.4% own
• Severe rent burden: 1829.0

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 0.57)
• Race & ethnicity: White 62% Black 20% Hispanic / Latino 8% Asian 6% Two or more races 5%
• Hispanic origin (detail): Mexican 5%
• Common ancestry: Italian 4% Romanian 3% Slovak 3%
• Foreign-born: 11% · Canada, China
• Languages at home: 86% English-only · Spanish 6% Other Indo-European 3% Arabic 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: ▼ -136.75%
• Current HPI: 385.5518
• Rent YoY: ▼ -0.37%
• 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

+9900.0% since first listed

9 events — show timeline

• 2026-06-10 Price Changed $110,000 MIBOR as Distributed by MLS Grid
• 2026-05-25 Price Changed $115,000 MIBOR as Distributed by MLS Grid
• 2026-05-04 Listed $120,000 MIBOR as Distributed by MLS Grid
• 2024-04-30 Rental Removed $895 PROPERTYWARE
• 2024-03-26 Price Changed $895 PROPERTYWARE
• 2024-03-13 Price Changed $940 PROPERTYWARE
• 2024-02-13 Price Changed $990 PROPERTYWARE
• 2024-01-31 Price Changed $1,045 PROPERTYWARE
• 2023-12-30 Listed for Rent $1,100 PROPERTYWARE

Property tax history

+9.9%/yr

Latest (2025): $1,501 · +10.6% YoY. Source: county tax records.