3461 W 10th St · Indianapolis city (balance), IN 46222

$99,900

2 bd · 1.0 ba · 720 sqft · SingleFamily public records · 13 Days on market

Built 1940 10,019 sqft lot $139/sqft · 50% above area Est $133k · 25% 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 +18.7/30.0
• ARV discount +15.0/15.0
• 1% rule +6.1/10.0
• DSCR +5.9/10.0
• 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

ATENTION INVESTORS: This would make a great rental property, 2 bedroom 1 bath w/bonus room in basement.Large fenced in back yard w/1-cd garage. Needs repairs and updates. Utilites Will be turned on..

Key facts

• Spacious lot
• Detached garage
• 0.23 acre lot

Tags

• FULL UNFINISHED BASEMENT
• SPACIOUS LOT
• DETACHED GARAGE
• EASY ACCESS TO CITY AMENITIES

Property features AI

Exterior

• Parking: Detached 1-car garage (approximately 240 sq ft)
• Utilities: Public water; Municipal sewer connected; No solid waste service listed
• Home design: Single-family residence; One story
• Construction: Aluminum siding; Block foundation
• Exterior features: Covered patio/porch; Storage shed; Sidewalks; Mature trees

Interior

• Kitchen: Electric oven; Range hood; Refrigerator; Eat-in kitchen
• Bedrooms: 2 bedrooms (both on the main level)
• Bathrooms: 1 full bathroom (main level)
• Heating & cooling: Forced air heating (natural gas); No central cooling
• Interior features: Attic access; Eat-in kitchen; Walk-in closet(s)
• Laundry & utility: Gas water heater; Water heater

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $100k.

Deal economics

• At list price, monthly cash flow is $98 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $100k).
• Cap rate 7.5% 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 (+2.5%/yr); 170 active listings in the ZIP; 10 comparable units currently listed for rent nearby; rentals at typical pace (median 20d on market — plan ~3-4 weeks tenant-placement turnaround); 40% 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).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $691 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

• Only 13 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 17y 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 $8k; list at $100k implies a 1149% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 2.5% of price; built in 1940 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $99,900

Questions for the listing agent

1. Built in 1940 — 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: 1.11% ✓
• Cap rate: 7.47%
• Cash-on-cash: 4.22%
• DSCR: 1.19
• GRM: 7.5

CMA / ARV

• ARV (median comp): $133,438
• List price: $99,900
• Delta: -25.13%
• 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
3335 W 9th St	0.22mi	2/1.0	720 (0%)	9mo	$34,000	$47	82
1209 N Centennial St	0.39mi	2/1.0	732 (+2%)	3mo	$140,000	$191	77
1225 N Somerset Ave	0.37mi	2/1.0	720 (0%)	8mo	$93,000	$129	76
1169 N Goodlet Ave	0.42mi	2/1.0	725 (+1%)	5mo	$129,000	$178	75
1248 N Rochester Ave	0.39mi	3/1.0 (+1)	720 (0%)	2mo	$66,500	$92	75
929 Olin Ave	0.36mi	3/1.0 (+1)	720 (0%)	7mo	$130,000	$181	72
3453 W 12th St	0.25mi	2/1.0	640 (-11%)	12mo	$115,000	$180	60
1143 Sharon Ave	0.58mi	2/1.0	775 (+8%)	10mo	$69,000	$89	52
1700 N Tibbs Ave	0.69mi	2/1.0	750 (+4%)	12mo	$125,000	$167	51
1623 N Centennial St	0.66mi	2/2.0	760 (+6%)	10mo	$110,000	$145	47
754 N Holmes Ave	0.70mi	2/1.0	800 (+11%)	4mo	$121,000	$151	46
715 N Warman Ave	0.68mi	2/1.0	816 (+13%)	12mo	$129,900	$159	36

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: -10.3%
• Equity multiple: 0.63×
• Total profit: $-10,451
• Equity at exit: $14,895

10-year hold

• IRR: -1.7%
• Equity multiple: 0.89×
• Total profit: $-3,178
• Equity at exit: $8,638

Cash invested: $27,972 (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 46222

• Home prices YoY: -16.7%
• Rents YoY: 2.5%
• Active inventory: 170
• Price-to-rent: 7.5×

Monthly cashflow live

• Estimated rent: $1,108 high
• Mortgage (P&I): −$524
• Tax from tax record: −$212 /mo · $2,541/yr
• Insurance: −$42
• HOA: −$0
• Vacancy / Maint / Mgmt: −$233
• Net cashflow: $98

Break-even live

Break-even rent $984

Max offer price $99,900

Occupancy floor 86%

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: $24,975
• Closing costs: $2,997
• Reserves months: —
• Total cash needed: —

Rent comps 10 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1165 N Concord St Indianapolis, IN	1.0	1.0	695	$775	$1.12	43d	1	0.49mi
411 N Centennial St Indianapolis, IN	2.0	1.0	750	$995	$1.33	7d	1	0.57mi
771 Haugh St Indianapolis, IN	2.0	1.0	714	$1,250	$1.75	19d	1	0.58mi
2014 N Exeter Ave Indianapolis, IN	2.0	1.0	660	$1,295	$1.96	7d	1	0.98mi
1411 N Pershing Ave Indianapolis, IN	1.0	1.0	700	$850	$1.21	43d	1	1.09mi
3621 Lawnview Ln Indianapolis, IN	1.0–4.0	1.0–1.5	1012	$1,026	$1.01	1d	13	1.27mi
1545 N Main St Speedway, IN	1.0–2.0	1.0–2.0	891	$1,972	$2.21	7d	9	1.30mi
2774 Pixel DR Indianapolis, IN	1.0	1.0	750	$1,100	$1.47	43d	1	1.42mi
2418 N Centennial St Indianapolis, IN	2.0	1.0	725	$1,099	$1.52	43d	1	1.43mi
1150 N White River Pkwy West Dr Indianapolis, IN	1.0–2.0	1.0	722	$1,224	$1.69	1d	9	1.45mi

Listing history 5 events

1. 2026-05-14
   status Pending 481-char remark
2. 2026-05-01
   listed $99,900 Active 481-char remark
3. 2009-05-11
   historical 199-char remark

   Show marketing remark (199 chars)

   ATENTION INVESTORS: This would make a great rental property, 2 bedroom 1 bath w/bonus room in basement.Large fenced in back yard w/1-cd garage. Needs repairs and updates. Utilites Will be turned on..

4. 2009-05-08
   soldstatus $8,000 199-char remark

   Show marketing remark (199 chars)

   ATENTION INVESTORS: This would make a great rental property, 2 bedroom 1 bath w/bonus room in basement.Large fenced in back yard w/1-cd garage. Needs repairs and updates. Utilites Will be turned on..

5. 2009-03-27
   listed $6,900 199-char remark

   Show marketing remark (199 chars)

   ATENTION INVESTORS: This would make a great rental property, 2 bedroom 1 bath w/bonus room in basement.Large fenced in back yard w/1-cd garage. Needs repairs and updates. Utilites Will be turned on..

ⓘ 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: $2,541 · $212/mo
• Projected year-2 tax: $2,541 · $212/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 · 18 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: $13,301
• − Mortgage interest: −$5,596
• − Property taxes: −$2,541
• − Insurance: −$500
• − Repairs & maintenance: −$1,064
• − Management: −$1,064
• − Depreciation: −$2,906
• Taxable loss: −$370
• Est. tax savings @ 24.0%: +$89
• After-tax cash flow: $1,269/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

+1347.8% since first listed

5 events — show timeline

• 2026-05-14 Pending — MIBOR as Distributed by MLS Grid
• 2026-05-01 Listed $99,900 MIBOR as Distributed by MLS Grid
• 2009-05-11 Listing Removed — MIBOR as Distributed by MLS Grid
• 2009-05-08 Sold (MLS) $8,000 MIBOR as Distributed by MLS Grid
• 2009-03-27 Listed $6,900 MIBOR as Distributed by MLS Grid

Property tax history

+12.5%/yr

Latest (2025): $2,541 · +14.8% YoY. Source: county tax records.