1118 N Mount St · Indianapolis city (balance), IN 46222

$105,000

3 bd · 2.0 ba · 1,638 sqft · SingleFamily public records · 3 Days on market

Built 1919 7,492 sqft lot Est $190k · 45% 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 +29.4/30.0
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• 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

This spacious 4-bedroom, 1-bath home offers 1,638 square feet of living space and is just a few finishing touches away from being move-in ready. With solid bones and plenty of character, buyers can move right in or complete a full renovation to maximize the home's potential. Conveniently located near downtown Indianapolis, this property is a great opportunity for homeowners and investors.

Key facts

• 7,492 sq ft lot
• Garage
• Built 1919

Property features AI

Exterior

• Parking: Detached garage (1-car), approximately 360 sq ft
• Utilities: Public water; Municipal sewer connection; No solid waste service listed
• Home design: Single-family residence; Two levels
• Construction: Vinyl siding; Crawl space foundation
• Exterior features: Lot approximately 0.17 acres; Less than 1/4 acre lot

Interior

• Kitchen: Microwave; Electric oven; Refrigerator
• Bedrooms: Three bedrooms total — one on the main level, two on the upper level; Bedroom sizes include 10 x 15 (two bedrooms) and 12 x 14
• Flooring: Hardwood floors
• Bathrooms: Two full bathrooms — one on the main level and one on the upper level
• Heating & cooling: Forced air heating (natural gas); Central air conditioning
• Interior features: Hardwood floors; Partial unfinished basement (has basement)
• Laundry & utility: Main-level laundry room (8 x 8)

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $105k.

Deal economics

• At list price, monthly cash flow is $371 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $105k).
• Cap rate 10.5% 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 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; 32 comparable units currently listed for rent nearby; rentals at typical pace (median 22d 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 37% 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.
• At projected returns (-3.0% appreciation + 2.5% rent growth), your $29k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 3y 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.

Risks & watch-outs

• Watch-outs: property tax is 3.2% of price; built in 1919 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $105,000

Questions for the listing agent

1. Built in 1919 — 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: 1.50% ✓
• Cap rate: 10.53%
• Cash-on-cash: 15.15%
• DSCR: 1.67
• GRM: 5.6

CMA / ARV

• ARV (on-the-fly): $190,008
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
745 N Pershing Ave	0.38mi	3/2.0	1,640 (+0%)	6mo	$198,000	$121	77
1137 Winfield Ave	0.26mi	3/2.0	1,560 (-5%)	4mo	$195,000	$125	77
1152 Winfield Ave	0.29mi	3/2.0	1,560 (-5%)	4mo	$195,000	$125	75
1148 Winfield Ave	0.29mi	3/2.0	1,560 (-5%)	6mo	$195,000	$125	73
1142 Sharon Ave	0.34mi	3/2.0	1,560 (-5%)	4mo	$165,000	$106	73
1254 N Belmont Ave	0.33mi	3/2.0	1,728 (+6%)	7mo	$200,000	$116	70
1425 Sharon Ave	0.40mi	2/1.0 (-1)	1,611 (-2%)	6mo	$108,000	$67	64
1325 Sharon Ave	0.37mi	2/1.5 (-1)	1,782 (+9%)	2mo	$145,000	$81	60
562 N Tremont St	0.47mi	3/2.0	1,427 (-13%)	0mo	$235,000	$165	57
1911 Sharon Ave	0.71mi	2/1.0 (-1)	1,636 (-0%)	1mo	$125,000	$76	57
916 Ketcham St	0.45mi	2/2.0 (-1)	1,404 (-14%)	7mo	$115,000	$82	44
1809 N Warman Ave	0.54mi	2/1.0 (-1)	1,440 (-12%)	5mo	$148,000	$103	41

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: 5.2%
• Equity multiple: 1.20×
• Total profit: $5,886
• Equity at exit: $15,656

10-year hold

• IRR: 14.1%
• Equity multiple: 2.11×
• Total profit: $32,572
• 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: 5.6×

Monthly cashflow live

• Estimated rent: $1,576 high
• Mortgage (P&I): −$551
• Tax from tax record: −$280 /mo · $3,354/yr
• Insurance: −$44
• HOA: −$0
• Vacancy / Maint / Mgmt: −$331
• Net cashflow: $371

Break-even live

Break-even rent $1,106

Max offer price $105,000

Occupancy floor 71%

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 32 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1118 King Ave Indianapolis, IN	3.0	1.0	1560	$1,299	$0.83	16d	1	0.11mi
1023 N Pershing Ave Indianapolis, IN	3.0	1.5	1182	$1,350	$1.14	24d	1	0.19mi
955 N Traub Ave Indianapolis, IN	3.0	2.0	1300	$1,449	$1.11	44d	1	0.39mi
742 N Sheffield Ave Unit 1228636P Indianapolis, IN	4.0	2.0	1851	$3,472	$1.88	2d	1	0.40mi
545 N Goodlet Ave Indianapolis, IN	3.0	1.0	1664	$1,250	$0.75	24d	1	0.73mi
326 N Warman Ave Indianapolis, IN	3.0	2.5	1804	$2,150	$1.19	2d	1	0.87mi
1410 Breedlove Ln Indianapolis, IN	2.0	1.0–2.0	886	$2,557	$2.88	2d	63	0.91mi
261 N Pershing Ave Indianapolis, IN	2.0	2.0	1764	$1,600	$0.91	24d	1	0.92mi
264 N Holmes Ave Indianapolis, IN	2.0	1.0	1540	$1,199	$0.78	24d	1	0.94mi
264 N Holmes Ave Indianapolis, IN	2.0	1.0	1092	$1,200	$1.10	10d	1	0.94mi
2952 W New York St Indianapolis, IN	2.0	2.5	1867	$2,000	$1.07	22d	1	0.95mi
2952 W New York St Indianapolis, IN	2.0	2.5	1882	$2,000	$1.06	2d	1	0.95mi
234 N Addison St Indianapolis, IN	3.0	2.0	1892	$1,900	$1.00	44d	1	0.98mi
3531 Garden Ave Indianapolis, IN	3.0	1.0	1264	$1,200	$0.95	24d	1	0.99mi
3531 Garden Ave Indianapolis, IN	3.0	1.0	1264	$1,200	$0.95	44d	1	0.99mi
240 N Warman Ave Indianapolis, IN	2.0–3.0	1.0–2.0	1052	$1,400	$1.33	20d	5	0.99mi
925 N Somerset Ave Indianapolis, IN	3.0	1.0	1061	$1,300	$1.23	7d	1	1.08mi
210 N Richland St Indianapolis, IN	4.0	2.0	1062	$1,625	$1.53	14d	1	1.09mi
156 Haugh St Indianapolis, IN	3.0	2.5	1800	$2,000	$1.11	44d	1	1.09mi
1228 W 18th St Indianapolis, IN	2.0	1.0	1050	$1,200	$1.14	44d	1	1.11mi
1920 Sugar Grove Ave Indianapolis, IN	3.0	1.5	1378	$1,175	$0.85	3d	1	1.15mi
1201 Indiana Ave Indianapolis, IN	1.0–3.0	1.0–3.5	967	$2,404	$2.49	2d	36	1.18mi
1449 Montcalm St Indianapolis, IN	3.0	1.0	1300	$1,900	$1.46	44d	1	1.22mi
1037 W 18th St Indianapolis, IN	2.0	2.5	1685	$2,500	$1.48	18d	1	1.33mi
2602 Mansion Dr Indianapolis, IN	2.0–3.0	2.0	1850	$1,675	$0.91	7d	6	1.33mi
2248 N Harding St Indianapolis, IN	2.0	1.0	1100	$899	$0.82	24d	1	1.33mi
1367 W Pruitt St Indianapolis, IN	3.0	1.0	1088	$1,450	$1.33	44d	1	1.34mi
1135 W 21st St Indianapolis, IN	3.0	2.0	1296	$1,495	$1.15	24d	1	1.35mi
1133 W 21st St Indianapolis, IN	3.0	2.0	1296	$1,495	$1.15	24d	1	1.35mi
2146 Gent Ave Indianapolis, IN	3.0	2.0	1952	$2,000	$1.02	22d	1	1.38mi
3621 Lawnview Ln Indianapolis, IN	1.0–4.0	1.0–1.5	1012	$1,162	$1.15	2d	13	1.43mi
930 W 10th St Indianapolis, IN	1.0–4.0	1.0–4.0	874	$3,144	$3.59	4d	1	1.46mi

Listing history 4 events

1. 2026-06-18
   days on market $105,000 Active 3 DOM
2. 2026-06-17
   days on market $105,000 Active 2 DOM
3. 2026-06-15
   remarks 391-char remark
4. 2026-06-15
   listed $105,000 Active 1 DOM

ⓘ 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: $3,354 · $280/mo
• Projected year-2 tax: $3,354 · $280/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: $18,912
• − Mortgage interest: −$5,882
• − Property taxes: −$3,354
• − Insurance: −$525
• − Repairs & maintenance: −$1,513
• − Management: −$1,513
• − Depreciation: −$3,055
• Taxable income: $3,071
• Est. tax owed @ 24.0%: −$737
• After-tax cash flow: $3,717/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

+7976.9% since first listed

3 events — show timeline

• 2026-06-15 Listed $105,000 MIBOR as Distributed by MLS Grid
• 2023-09-04 Rental Removed $1,300 RENTLY
• 2023-08-02 Listed for Rent $1,300 RENTLY

Property tax history

+21.2%/yr

Latest (2025): $3,354 · +28.1% YoY. Source: county tax records.