2148 Ransdell St · Indianapolis city (balance), IN 46225

$129,900

4 bd · 2.0 ba · 1,568 sqft · SingleFamily public records · 26 Days on market

Built 1906 8,160 sqft lot

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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 +30.0/30.0
• DSCR +10.0/10.0
• 1% rule +9.6/10.0
• ARV discount +7.5/15.0
• Rent growth +5.0/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.4/10.0
• Appreciation +0.0/10.0

Listing remarks

Opportunity awaits with this spacious ranch-style home offering plenty of room and potential for the right buyer. With 4 bedrooms, 2 bathrooms, and over 1,500 square feet, this property could be transformed into something truly special. If you're looking for your next investment project or renovation opportunity, this is one you'll want to see in person. Built in 1906, this single-level home offers 1,568 square feet of living space with a functional layout and vinyl windows already in place. The property features a wood exterior that currently has significant damage, including rotting, splintering, and decaying areas, and will require substantial repairs and updates. There are also open hea

Key facts

• 8,160 sq ft lot
• Built 1906
• Listed 26 days

Property features AI

Finance

• Other: Finished lower-level/basement area (392); Total building area 3,136; living area 1,960; main-level finished area 1,568

Exterior

• Utilities: Public water; Municipal sewer connection; Solid waste service available
• Home design: Single-family residence; One level; Residential property
• Construction: Vinyl and wood siding; Partial block foundation
• Exterior features: Approximately 0.19-acre lot

Interior

• Kitchen: Electric oven; Refrigerator
• Bedrooms: Four bedrooms on the main level
• Bathrooms: Two full bathrooms on the main level
• Heating & cooling: Forced-air heating (natural gas); Central air conditioning
• Interior features: Woodwork stained or painted
• Laundry & utility: Washer; Main-level laundry room (7x4)

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $130k.

Deal economics

• At list price, monthly cash flow is $541 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $130k).
• Recommended offer: $128k (1.5% below list) — sets the bar for market timing.
• Cap rate 11.3% 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.
• Zoned schools: Frederick Douglass School 19 (math 9% / reading 13%, grade F, #909 of 994 statewide, top 92%, 444 students, 81% FRL); H L Harshman Middle School (math 3% / reading 16%, grade F, #316 of 330 statewide, top 96%, 549 students, 84% FRL).
• Market conditions: Rents rising fast (+11.0%/yr); 131 active listings in the ZIP; 40 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 41% of the median local income ($55k/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 $898 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 + 8.0% rent growth), your $36k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 26 days — a 2% lower offer ($128k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 9y 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 $59k; list at $130k implies a 120% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1906 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $127,951 (1.5% below list)

Questions for the listing agent

1. Built in 1906 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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.
4. 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.
5. 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: 1.46% ✓
• Cap rate: 11.29%
• Cash-on-cash: 17.86%
• DSCR: 1.79
• GRM: 5.7

CMA / ARV

• ARV (on-the-fly): $268,128
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2142 Webb St	0.06mi	3/2.0 (-1)	1,496 (-5%)	3mo	$128,000	$86	82
2302 S Pennsylvania St	0.33mi	3/3.0 (-1)	1,590 (+1%)	2mo	$275,000	$173	71
2134 S Delaware St	0.19mi	3/3.0 (-1)	1,680 (+7%)	2mo	$195,000	$116	68
14 E Regent St	0.33mi	3/2.5 (-1)	1,496 (-5%)	2mo	$270,000	$180	68
1750 Union St	0.45mi	4/2.0	1,641 (+5%)	4mo	$229,000	$140	68
2165 Napoleon St	0.48mi	3/2.0 (-1)	1,465 (-7%)	1mo	$140,000	$96	60
706 E Minnesota St	0.57mi	3/3.5 (-1)	1,589 (+1%)	3mo	$202,000	$127	58
255 Iowa St	0.37mi	3/1.0 (-1)	1,452 (-7%)	6mo	$105,000	$72	56
1036 E Tabor St	0.61mi	3/1.5 (-1)	1,596 (+2%)	8mo	$330,000	$207	55
35 Iowa St	0.49mi	3/2.5 (-1)	1,400 (-11%)	2mo	$239,000	$171	51
337 E Minnesota St	0.44mi	3/2.0 (-1)	1,371 (-13%)	8mo	$265,000	$193	47
701 Weghorst St	0.65mi	3/3.0 (-1)	1,761 (+12%)	5mo	$370,000	$210	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 · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 15.1%
• Equity multiple: 1.65×
• Total profit: $23,505
• Equity at exit: $19,369

10-year hold

• IRR: 27.4%
• Equity multiple: 4.04×
• Total profit: $110,692
• Equity at exit: $11,231

Cash invested: $36,372 (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 46225

• Home prices YoY: -8.2%
• Rents YoY: 11.0%
• Active inventory: 131
• Price-to-rent: 5.7×

Monthly cashflow live

• Estimated rent: $1,894 high
• Mortgage (P&I): −$681
• Tax from tax record: −$220 /mo · $2,639/yr
• Insurance: −$54
• HOA: −$0
• Vacancy / Maint / Mgmt: −$398
• Net cashflow: $541

Break-even live

Break-even rent $1,209

Max offer price $129,900

Occupancy floor 66%

Sensitivity live

Price	-10% $615	-5% $578	+0% $541	+5% $505	+10% $468
Rent	-10% $392	-5% $467	+0% $541	+5% $616	+10% $691
Rate	-1.0pp $607	-0.5pp $574	base $541	+0.5pp $508	+1.0pp $473

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: $32,475
• Closing costs: $3,897
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2109 Singleton St Indianapolis, IN	3.0	2.0	1340	$2,100	$1.57	9d	1	0.23mi
438 E Beecher St Indianapolis, IN	3.0	2.5	1500	$1,450	$0.97	25d	1	0.30mi
620 E Beecher St Indianapolis, IN	3.0	2.0	1072	$1,639	$1.53	21d	1	0.35mi
2283 Union St Indianapolis, IN	3.0	2.0	1824	$1,820	$1.00	25d	1	0.36mi
224 Iowa St Indianapolis, IN	3.0	1.0	1254	$1,450	$1.16	25d	1	0.40mi
1830 Orleans St Indianapolis, IN	3.0	2.5	1586	$1,995	$1.26	45d	1	0.43mi
1833 Orleans St Unit 1 Indianapolis, IN	3.0	1.0	1260	$1,350	$1.07	45d	1	0.44mi
1835 Applegate St Indianapolis, IN	4.0	3.0	2024	$2,300	$1.14	45d	1	0.48mi
1436 S New Jersey St Unit A Indianapolis, IN	3.0	2.5	1300	$2,100	$1.62	25d	1	0.63mi
110 Pennsylvania Ct Indianapolis, IN	3.0	2.0	1202	$1,700	$1.41	6d	1	0.67mi
243 Terrace Ave Indianapolis, IN	4.0	2.0	1669	$2,700	$1.62	19d	1	0.69mi
1703 Ringgold Ave Indianapolis, IN	3.0	2.0	1712	$1,700	$0.99	0d	1	0.71mi
835 Weghorst St Unit 837 Indianapolis, IN	3.0	1.5	1500	$1,399	$0.93	25d	1	0.71mi
743 Cottage Ave Indianapolis, IN	5.0	2.0	2233	$1,995	$0.89	45d	1	0.72mi
728 Cottage Ave Indianapolis, IN	3.0	2.5	1831	$2,550	$1.39	25d	1	0.73mi
752 Cottage Ave Indianapolis, IN	3.0	2.0	1548	$1,750	$1.13	16d	1	0.75mi
614 Parkway Ave Indianapolis, IN	3.0	2.0	1360	$1,850	$1.36	0d	1	0.80mi
2760 S East St Indianapolis, IN	2.0–3.0	2.0	1072	$1,045	$0.97	5d	3	0.82mi
726 Parkway Ave Indianapolis, IN	3.0	2.0	1150	$2,195	$1.91	19d	1	0.82mi
2770 S East St Apt 103 Indianapolis, IN	3.0	2.0	1190	$1,045	$0.88	16d	1	0.82mi
1514 Ringgold Ave Indianapolis, IN	3.0	1.0	1064	$1,295	$1.22	45d	1	0.82mi
2770 South East St Unit 302 Indianapolis, IN	3.0	2.0	1158	$1,015	$0.88	4d	1	0.82mi
734 Parkway Ave Indianapolis, IN	3.0	2.0	2110	$2,299	$1.09	25d	1	0.83mi
406 Orange St Indianapolis, IN	3.0	2.5	1820	$2,250	$1.24	45d	1	0.83mi
1258 E Naomi St Indianapolis, IN	3.0	2.0	1608	$1,450	$0.90	9d	1	0.88mi
2020 Boyd Ave Indianapolis, IN	3.0	1.5	1160	$1,450	$1.25	25d	1	0.90mi
2018 Boyd Ave Indianapolis, IN	3.0	1.5	1160	$1,350	$1.16	45d	1	0.90mi
1247 Wright St Indianapolis, IN	3.0	1.5	1809	$1,750	$0.97	45d	1	0.90mi
1247 Wright St Indianapolis, IN	3.0	1.5	1247	$1,750	$1.40	19d	1	0.90mi
1399 Hoefgen St Indianapolis, IN	5.0	3.0	2122	$2,100	$0.99	0d	1	0.95mi
1528 E Tabor St Indianapolis, IN	3.0	1.5	2200	$1,550	$0.70	16d	1	0.98mi
1742 Thaddeus St Unit 1742-A Indianapolis, IN	3.0	2.0	1350	$1,600	$1.19	15d	1	1.00mi
518 Prospect St Unit 1353834P Indianapolis, IN	3.0	2.0	1603	$2,442	$1.52	16d	1	1.02mi
518 Prospect St Unit 1357365P Indianapolis, IN	3.0	2.0	1614	$2,594	$1.61	9d	1	1.02mi
1729 Thaddeus St Unit 1729-B Indianapolis, IN	3.0	2.0	1350	$1,600	$1.19	15d	1	1.03mi
907 Prospect St Unit 907 Prospect NO AMI Indianapolis, IN	3.0	1.5	1121	$1,400	$1.25	25d	1	1.08mi
1012 Prospect St Unit 512 State 120% AMI Indianapolis, IN	3.0	1.0	1200	$1,400	$1.17	45d	1	1.15mi
1012 Prospect St Unit 907 Prospect NO AMI Indianapolis, IN	3.0	1.5	1121	$1,400	$1.25	45d	1	1.15mi
1012 Prospect St Unit 1527 Indianapolis, IN	3.0	1.5	1150	$1,200	$1.04	45d	1	1.15mi
1330 Laurel St Indianapolis, IN	3.0	2.0	1911	$2,250	$1.18	22d	1	1.16mi

Listing history 29 events

1. 2026-06-21
   days on market $129,900 Active 26 DOM
2. 2026-06-18
   days on market $129,900 Active 23 DOM
3. 2026-06-17
   days on market $129,900 Active 22 DOM
4. 2026-06-16
   days on market $129,900 Active 21 DOM
5. 2026-06-15
   days on market $129,900 Active 20 DOM
6. 2026-06-13
   days on market $129,900 Active 18 DOM
7. 2026-06-13
   days on market $129,900 Active 17 DOM
8. 2026-06-09
   days on market $129,900 Active 14 DOM
9. 2026-06-08
   days on market $129,900 Active 13 DOM
10. 2026-06-07
    days on market $129,900 Active 12 DOM
11. 2026-06-03
    days on market $129,900 Active 8 DOM
12. 2026-06-02
    days on market $129,900 Active 7 DOM
13. 2026-06-01
    days on market $129,900 Active 6 DOM
14. 2026-05-31
    days on market $129,900 Active 5 DOM
15. 2026-05-26
    listed $129,900 Active
16. 2023-01-26
    historical
17. 2023-01-03
    listed $125,000 Active
18. 2020-01-03
    historical
19. 2019-12-11
    price $109,900
20. 2019-11-22
    listed $114,900 Active
21. 2018-07-02
    soldstatus $58,999 Sold
22. 2018-05-10
    status Pending
23. 2018-05-09
    status Active
24. 2018-03-29
    historical
25. 2018-03-09
    listed $58,999 Active
26. 2017-10-27
    soldstatus $27,000 Sold
27. 2017-10-09
    status Pending
28. 2017-10-07
    price $29,900
29. 2017-09-08
    listed $31,500 Active

ⓘ 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: $2,639 · $220/mo
• Projected year-2 tax: $2,639 · $220/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 ≥101°F today · 19 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 0% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $22,734
• − Mortgage interest: −$7,276
• − Property taxes: −$2,639
• − Insurance: −$650
• − Repairs & maintenance: −$1,819
• − Management: −$1,819
• − Depreciation: −$3,779
• Taxable income: $4,752
• Est. tax owed @ 24.0%: −$1,140
• After-tax cash flow: $5,356/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): 6,037
• Household income: $55,190
• Rent vs Own: 44.0% rent · 56.0% own
• Severe rent burden: 311.0

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: Predominantly White (68%)
• Race & ethnicity: White 68% Two or more races 12% Black 11% Hispanic / Latino 10% Asian 2%
• Hispanic origin (detail): Mexican 6%
• Common ancestry: Romanian 2% Italian 2% Slovak 1%
• Foreign-born: 9% · Canada
• Languages at home: 88% English-only · Spanish 10% German/W. Germanic 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: ▼ -36.19%
• Current HPI: 403.9271
• Rent YoY: ▲ 10.98%
• 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

+312.4% since first listed

15 events — show timeline

• 2026-05-26 Listed $129,900 MIBOR as Distributed by MLS Grid
• 2023-01-26 Listing Removed — MIBOR as Distributed by MLS Grid
• 2023-01-03 Listed $125,000 MIBOR as Distributed by MLS Grid
• 2020-01-03 Listing Removed — MIBOR as Distributed by MLS Grid
• 2019-12-11 Price Changed $109,900 MIBOR as Distributed by MLS Grid
• 2019-11-22 Listed $114,900 MIBOR as Distributed by MLS Grid
• 2018-07-02 Sold (MLS) $58,999 MIBOR as Distributed by MLS Grid
• 2018-05-10 Pending — MIBOR as Distributed by MLS Grid
• 2018-05-09 Relisted — MIBOR as Distributed by MLS Grid
• 2018-03-29 Listing Removed — MIBOR as Distributed by MLS Grid
• 2018-03-09 Listed $58,999 MIBOR as Distributed by MLS Grid
• 2017-10-27 Sold (MLS) $27,000 MIBOR as Distributed by MLS Grid
• 2017-10-09 Pending — MIBOR as Distributed by MLS Grid
• 2017-10-07 Price Changed $29,900 MIBOR as Distributed by MLS Grid
• 2017-09-08 Listed $31,500 MIBOR as Distributed by MLS Grid

Property tax history

+9.0%/yr

Latest (2025): $2,639 · +3.7% YoY. Source: county tax records.