9819 Bishop Ct · Indianapolis city (balance), IN 46235

$139,900

4 bd · 2.0 ba · 1,225 sqft · SingleFamily public records · 34 Days on market

Built 1963 7,928 sqft lot Est $146k · at est.

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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 +25.9/30.0
• ARV discount +9.3/15.0
• DSCR +8.7/10.0
• 1% rule +7.1/10.0
• 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

So much potential! Home is currently tenant occupied. Tenant is in the process of moving out. This is one of the larger homes in the Vinton Woods subdivision and has the potential to be even larger with the two concrete pad storage rooms attached to the back of the home. Possible reconfiguration of back could offer opportunity for a fifth bedroom or an additional family space! It sits conveniently at the end of the cul-de-sac with a larger lot. It's also rare for the area in that it has more than one bathroom! With some cosmetic updates, this home will shine again!

Key facts

• Shaker cabinets
• Practical shed
• Crown molding

Tags

• SHAKER CABINETS
• CROWN MOLDING
• SUBSTANTIAL LOT
• PRACTICAL SHED

Property features AI

Exterior

• Parking: Concrete parking
• Security: Smoke detector(s)
• Utilities: Public water; Municipal sewer (connected); Water and sewer connected
• Home design: Single-family residence; One level
• Construction: Wood siding; Slab foundation
• Exterior features: Storage shed; Fenced yard

Interior

• Kitchen: Refrigerator; Range hood
• Bedrooms: 4 bedrooms — all on the main level; Bedroom 2 (8x12); Bedroom 3 (10x8); Bedroom 4 (12x16)
• Bathrooms: 2 full bathrooms — both on the main level
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: Built-in features; Living room (16x12); Dining room (7x12); Additional main-level room (14x12)
• Laundry & utility: Main-level laundry with all connections

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $140k.

Deal economics

• At list price, monthly cash flow is $344 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $140k).
• Recommended offer: $136k (3.0% below list) — sets the bar for market timing.
• Cap rate 9.2% 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 (+2.6%/yr); 55 active listings in the ZIP; 24 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 34% of the median local income ($59k/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 $967 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.

Negotiation context

• It's been on market 34 days — a 3% lower offer ($136k) is reasonable based on typical stale-listing flexibility.
• 9 sale attempts since 25y 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 $108k; 30% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Recommended offer $135,703 (3.0% below list)

Questions for the listing agent

1. It's been on market 34 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 1963 — 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: 1.21% ✓
• Cap rate: 9.24%
• Cash-on-cash: 10.54%
• DSCR: 1.47
• GRM: 6.9

CMA / ARV

• ARV (on-the-fly): $145,775
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
9819 Bishop Ct	0.00mi	4/2.0	1,225 (0%)	1mo	$136,500	$111	100
4149 Mellis Dr	0.47mi	3/1.0 (-1)	1,236 (+1%)	0mo	$161,000	$130	67
3601 Luewan Dr	0.38mi	3/2.0 (-1)	1,284 (+5%)	7mo	$110,000	$86	63
10113 Catalina Dr	0.40mi	3/1.5 (-1)	1,176 (-4%)	6mo	$151,500	$129	62
9613 E 39th Pl	0.17mi	3/1.0 (-1)	1,073 (-12%)	2mo	$125,000	$116	61
3444 Hermosa Ct	0.70mi	3/1.5 (-1)	1,262 (+3%)	3mo	$145,000	$115	53
9643 Pepperidge Dr	0.71mi	3/2.0 (-1)	1,176 (-4%)	3mo	$179,900	$153	52
9438 Conried Dr	0.37mi	3/1.0 (-1)	1,094 (-11%)	5mo	$130,000	$119	52
3525 Luewan Ct	0.60mi	4/1.0	1,107 (-10%)	5mo	$120,000	$108	48
4106 Candy Apple Blvd	0.71mi	4/2.0	1,380 (+13%)	6mo	$165,000	$120	41
9527 Pepperidge Dr	0.68mi	3/2.5 (-1)	1,107 (-10%)	7mo	$230,000	$208	40
9048 E 36th St	0.75mi	3/1.0 (-1)	1,311 (+7%)	8mo	$130,000	$99	38

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 · 2.56% rent growth · sell at horizon

5-year hold

• IRR: -1.0%
• Equity multiple: 0.96×
• Total profit: $-1,458
• Equity at exit: $20,860

10-year hold

• IRR: 8.2%
• Equity multiple: 1.61×
• Total profit: $24,086
• Equity at exit: $12,096

Cash invested: $39,172 (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 46235

• Home prices YoY: -4.3%
• Rents YoY: 2.6%
• Active inventory: 55
• Price-to-rent: 6.9×

Monthly cashflow live

• Estimated rent: $1,693 high
• Mortgage (P&I): −$734
• Tax from tax record: −$201 /mo · $2,417/yr
• Insurance: −$58
• HOA: −$0
• Vacancy / Maint / Mgmt: −$356
• Net cashflow: $344

Break-even live

Break-even rent $1,257

Max offer price $139,900

Occupancy floor 75%

Sensitivity live

Price	-10% $423	-5% $384	+0% $344	+5% $305	+10% $265
Rent	-10% $210	-5% $277	+0% $344	+5% $411	+10% $478
Rate	-1.0pp $415	-0.5pp $380	base $344	+0.5pp $308	+1.0pp $271

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: $34,975
• Closing costs: $4,197
• Reserves months: —
• Total cash needed: —

Rent comps 24 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3962 Strathmore Dr Indianapolis, IN	3.0	1.0	925	$1,250	$1.35	24d	1	0.18mi
9962 Catalina Dr Indianapolis, IN	3.0	1.0	1236	$1,600	$1.29	5d	1	0.18mi
9949 Ellis Dr Indianapolis, IN	4.0	2.0	1421	$1,580	$1.11	4d	1	0.34mi
9438 Conried Dr Indianapolis, IN	3.0	1.0	1094	$1,445	$1.32	5d	1	0.37mi
3747 Ireland Dr Indianapolis, IN	4.0	1.5	1400	$1,700	$1.21	24d	1	0.39mi
3519 Jerome Ct Indianapolis, IN	4.0	1.0	1107	$1,995	$1.80	24d	1	0.57mi
3525 Luewan Ct Indianapolis, IN	4.0	1.0	1107	$1,750	$1.58	24d	1	0.60mi
9226 E 36th Pl Indianapolis, IN	3.0	1.0	1073	$1,250	$1.16	8d	1	0.60mi
3645 Wingate Ct Indianapolis, IN	3.0	1.0–2.0	774	$1,500	$1.94	24d	6	0.75mi
8914 Elmonte Dr Indianapolis, IN	3.0	1.5	1500	$1,600	$1.07	24d	1	0.82mi
8862 Bel Air Ct Indianapolis, IN	3.0	1.0	1073	$1,264	$1.18	19d	1	0.85mi
3829 Biscayne Rd Indianapolis, IN	4.0	1.5	1188	$1,320	$1.11	15d	1	0.93mi
3823 Biscayne Rd Indianapolis, IN	4.0	1.5	1188	$1,320	$1.11	15d	1	0.93mi
3821 Biscayne Rd Indianapolis, IN	4.0	1.5	1188	$1,325	$1.12	15d	1	0.93mi
3631 Decamp Dr Indianapolis, IN	3.0	1.0	1000	$1,335	$1.33	24d	1	0.93mi
3815 Biscayne Rd Indianapolis, IN	3.0	1.5	1188	$1,220	$1.03	15d	1	0.93mi
3938 Biscayne Rd Indianapolis, IN	3.0	1.0	1000	$1,895	$1.90	4d	1	0.94mi
8738 Montery Rd Indianapolis, IN	3.0	1.0	1421	$1,396	$0.98	8d	1	0.96mi
8724 Montery Rd Indianapolis, IN	3.0	1.0	925	$1,500	$1.62	45d	1	0.99mi
3540 Dubarry Ct Indianapolis, IN	3.0	2.0	1297	$1,400	$1.08	24d	1	1.01mi
3665 Coneflower Way Indianapolis, IN	3.0	2.0	1030	$1,375	$1.33	45d	1	1.14mi
8501 Athens Ct Indianapolis, IN	4.0	1.0	1225	$1,475	$1.20	15d	1	1.28mi
4315 Aspen Way Indianapolis, IN	3.0	1.0	1080	$1,380	$1.28	45d	1	1.35mi
8203 Penway St Indianapolis, IN	3.0	1.5	1360	$1,500	$1.10	24d	1	1.49mi

Listing history 26 events

1. 2026-04-29
   status Pending
2. 2026-04-17
   price $139,900
3. 2026-04-09
   status Active
4. 2026-03-20
   status Pending
5. 2026-03-06
   listed $144,900 Active
6. 2022-04-14
   soldstatus $108,000 Closed 577-char remark

   Show marketing remark (577 chars)

   So much potential! Home is currently tenant occupied. Tenant is in the process of moving out. This is one of the larger homes in the Vinton Woods subdivision and has the potential to be even larger with the two concrete pad storage rooms attached to the back of the home. Possible reconfiguration of back could offer opportunity for a fifth bedroom or an additional family space! It sits conveniently at the end of the cul-de-sac with a larger lot. It's also rare for the area in that it has more than one bathroom! With some cosmetic updates, this home will shine again!

7. 2022-03-31
   status Pending 577-char remark

   Show marketing remark (577 chars)

   So much potential! Home is currently tenant occupied. Tenant is in the process of moving out. This is one of the larger homes in the Vinton Woods subdivision and has the potential to be even larger with the two concrete pad storage rooms attached to the back of the home. Possible reconfiguration of back could offer opportunity for a fifth bedroom or an additional family space! It sits conveniently at the end of the cul-de-sac with a larger lot. It's also rare for the area in that it has more than one bathroom! With some cosmetic updates, this home will shine again!

8. 2022-03-31
   status Active 577-char remark

   Show marketing remark (577 chars)

   So much potential! Home is currently tenant occupied. Tenant is in the process of moving out. This is one of the larger homes in the Vinton Woods subdivision and has the potential to be even larger with the two concrete pad storage rooms attached to the back of the home. Possible reconfiguration of back could offer opportunity for a fifth bedroom or an additional family space! It sits conveniently at the end of the cul-de-sac with a larger lot. It's also rare for the area in that it has more than one bathroom! With some cosmetic updates, this home will shine again!

9. 2022-03-29
   status Pending 577-char remark

   Show marketing remark (577 chars)

   So much potential! Home is currently tenant occupied. Tenant is in the process of moving out. This is one of the larger homes in the Vinton Woods subdivision and has the potential to be even larger with the two concrete pad storage rooms attached to the back of the home. Possible reconfiguration of back could offer opportunity for a fifth bedroom or an additional family space! It sits conveniently at the end of the cul-de-sac with a larger lot. It's also rare for the area in that it has more than one bathroom! With some cosmetic updates, this home will shine again!

10. 2022-03-24
    listed $119,900 Active 577-char remark

    Show marketing remark (577 chars)

    So much potential! Home is currently tenant occupied. Tenant is in the process of moving out. This is one of the larger homes in the Vinton Woods subdivision and has the potential to be even larger with the two concrete pad storage rooms attached to the back of the home. Possible reconfiguration of back could offer opportunity for a fifth bedroom or an additional family space! It sits conveniently at the end of the cul-de-sac with a larger lot. It's also rare for the area in that it has more than one bathroom! With some cosmetic updates, this home will shine again!

11. 2017-08-15
    soldstatus $36,900 Sold 119-char remark

    Show marketing remark (119 chars)

    Good property for investors or first time home buyers 3 bedroom 1.5 bath in culdesac. 2 bonus rooms in back of property

12. 2017-08-07
    status Pending 119-char remark

    Show marketing remark (119 chars)

    Good property for investors or first time home buyers 3 bedroom 1.5 bath in culdesac. 2 bonus rooms in back of property

13. 2017-07-21
    historical Active with Contingency 119-char remark

    Show marketing remark (119 chars)

    Good property for investors or first time home buyers 3 bedroom 1.5 bath in culdesac. 2 bonus rooms in back of property

14. 2017-05-25
    price $42,800 119-char remark

    Show marketing remark (119 chars)

    Good property for investors or first time home buyers 3 bedroom 1.5 bath in culdesac. 2 bonus rooms in back of property

15. 2017-05-12
    price $44,900 119-char remark

    Show marketing remark (119 chars)

    Good property for investors or first time home buyers 3 bedroom 1.5 bath in culdesac. 2 bonus rooms in back of property

16. 2017-05-12
    status Active 119-char remark

    Show marketing remark (119 chars)

    Good property for investors or first time home buyers 3 bedroom 1.5 bath in culdesac. 2 bonus rooms in back of property

17. 2017-04-24
    historical 119-char remark

    Show marketing remark (119 chars)

    Good property for investors or first time home buyers 3 bedroom 1.5 bath in culdesac. 2 bonus rooms in back of property

18. 2017-04-17
    historical Active with Contingency 119-char remark

    Show marketing remark (119 chars)

    Good property for investors or first time home buyers 3 bedroom 1.5 bath in culdesac. 2 bonus rooms in back of property

19. 2017-04-17
    listed $45,000 Active 119-char remark

    Show marketing remark (119 chars)

    Good property for investors or first time home buyers 3 bedroom 1.5 bath in culdesac. 2 bonus rooms in back of property

20. 2013-06-04
    historical
21. 2013-03-28
    listed $43,000
22. 2011-11-23
    historical
23. 2011-11-21
    soldstatus $19,250
24. 2011-09-03
    listed $20,000
25. 2001-08-28
    soldstatus $40,000
26. 2001-03-09
    listed $44,900

ⓘ 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: $2,417 · $201/mo
• Projected year-2 tax: $2,417 · $201/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 ≥101°F today · 18 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $20,316
• − Mortgage interest: −$7,837
• − Property taxes: −$2,417
• − Insurance: −$700
• − Repairs & maintenance: −$1,625
• − Management: −$1,625
• − Depreciation: −$4,070
• Taxable income: $2,042
• Est. tax owed @ 24.0%: −$490
• After-tax cash flow: $3,639/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): 36,317
• Household income: $58,951
• Rent vs Own: 46.5% rent · 53.5% own
• Severe rent burden: 1901.0

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 0.62)
• Race & ethnicity: Black 57% White 18% Hispanic / Latino 17% Two or more races 11%
• Hispanic origin (detail): Mexican 11% Puerto Rican 2%
• Common ancestry: Hispanic 3% Slovak 1% Romanian 1%
• Foreign-born: 11% · Canada
• Languages at home: 80% English-only · Spanish 15% French/Haitian/Cajun 4%

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: ▼ -12.41%
• Current HPI: 275.1505
• Rent YoY: ▲ 2.56%
• 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

+211.6% since first listed

26 events — show timeline

• 2026-04-29 Pending — MIBOR as Distributed by MLS Grid
• 2026-04-17 Price Changed $139,900 MIBOR as Distributed by MLS Grid
• 2026-04-09 Relisted — MIBOR as Distributed by MLS Grid
• 2026-03-20 Pending — MIBOR as Distributed by MLS Grid
• 2026-03-06 Listed $144,900 MIBOR as Distributed by MLS Grid
• 2022-04-14 Sold (MLS) $108,000 MIBOR as Distributed by MLS Grid
• 2022-03-31 Pending — MIBOR as Distributed by MLS Grid
• 2022-03-31 Relisted — MIBOR as Distributed by MLS Grid
• 2022-03-29 Pending — MIBOR as Distributed by MLS Grid
• 2022-03-24 Listed $119,900 MIBOR as Distributed by MLS Grid
• 2017-08-15 Sold (MLS) $36,900 MIBOR as Distributed by MLS Grid
• 2017-08-07 Pending — MIBOR as Distributed by MLS Grid
• 2017-07-21 Contingent — MIBOR as Distributed by MLS Grid
• 2017-05-25 Price Changed $42,800 MIBOR as Distributed by MLS Grid
• 2017-05-12 Price Changed $44,900 MIBOR as Distributed by MLS Grid
• 2017-05-12 Relisted — MIBOR as Distributed by MLS Grid
• 2017-04-24 Listing Removed — MIBOR as Distributed by MLS Grid
• 2017-04-17 Contingent — MIBOR as Distributed by MLS Grid
• 2017-04-17 Listed $45,000 MIBOR as Distributed by MLS Grid
• 2013-06-04 Listing Removed — MIBOR as Distributed by MLS Grid
• 2013-03-28 Listed $43,000 MIBOR as Distributed by MLS Grid
• 2011-11-23 Listing Removed — MIBOR as Distributed by MLS Grid
• 2011-11-21 Sold (MLS) $19,250 MIBOR as Distributed by MLS Grid
• 2011-09-03 Listed $20,000 MIBOR as Distributed by MLS Grid
• 2001-08-28 Sold (MLS) $40,000 MIBOR as Distributed by MLS Grid
• 2001-03-09 Listed $44,900 MIBOR as Distributed by MLS Grid

Property tax history

+7.0%/yr

Latest (2025): $2,417 · +2.0% YoY. Source: county tax records.