9848 Haven Ct · Indianapolis city (balance), IN 46235

$80,000

2 bd · 1.5 ba · 1,048 sqft · Condo public records · 31 Days on market

Built 1973 $250/mo HOA · 17% of rent

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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 +26.4/30.0
• 1% rule +10.0/10.0
• DSCR +9.0/10.0
• ARV discount +7.5/15.0
• 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

Investors take a look!!! Bank owned property with great potential. Property Sold AS-IS. Room sizes are approximate.

Key facts

• New lvp flooring
• Full interior paint
• $250 HOA

Tags

• NEW LVP FLOORING
• FULL INTERIOR PAINT
• NEW GLASS SLIDING DOOR
• DEDICATED LAUNDRY ROOM
• HOA MAINTAINED EXTERIOR

Property features AI

Finance

• Other: Approximately less than 1/4 acre lot; Directions: GPS friendly
• HOA & community: Has HOA; HOA fee $250 monthly; HOA covers insurance, lawn care, grounds maintenance, structure maintenance, and snow removal; HOA disclosures: covenants & restrictions, rules & regulations; 2+ common walls

Exterior

• Parking: Attached garage (1 car)
• Utilities: Public water; Municipal sewer connected; Solid waste service available
• Home design: Residential condominium (vertical type); Ground level unit description; Two levels; Low-maintenance lifestyle; Horizontal property regime ownership with mandatory fee
• Construction: Wood and brick construction; Slab foundation
• Exterior features: Patio; Full privacy fence

Interior

• Kitchen: Electric oven; Refrigerator; Exhaust fan
• Bedrooms: 2 bedrooms on upper level
• Bathrooms: 1 full bathroom; 1 half bathroom; Primary bathroom has tub with shower
• Heating & cooling: Forced air heating; Heat pump; Central air conditioning
• Interior features: Wood work painted; Updated/remodeled condition; Laundry in unit
• Laundry & utility: Laundry room on main level; Water heater

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath condo listed at $80k.

Deal economics

• At list price, monthly cash flow is $210 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $80k).
• Recommended offer: $78k (3.0% below list) — sets the bar for market timing.
• Cap rate 9.4% 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); 54 active listings in the ZIP; 17 comparable units currently listed for rent nearby; rentals at typical pace (median 18d 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 $553 of loan paydown is wiped out by about $2k 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 31 days — a 3% lower offer ($78k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 19y 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 $10k; list at $80k implies a 700% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 3.3% of price.

Recommended offer $77,600 (3.0% below list)

Questions for the listing agent

1. It's been on market 31 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 1973 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
4. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
5. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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.
8. 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.
9. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.80% ✓
• Cap rate: 9.44%
• Cash-on-cash: 11.24%
• DSCR: 1.50
• GRM: 4.6

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 2.56% rent growth · sell at horizon

5-year hold

• IRR: 0.0%
• Equity multiple: 1.00×
• Total profit: $16
• Equity at exit: $11,928

10-year hold

• IRR: 9.3%
• Equity multiple: 1.70×
• Total profit: $15,661
• Equity at exit: $6,917

Cash invested: $22,400 (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 46235

• Home prices YoY: -4.3%
• Rents YoY: 2.6%
• Active inventory: 54
• Price-to-rent: 4.6×

Monthly cashflow live

• Estimated rent: $1,438 high
• Mortgage (P&I): −$420
• Tax from tax record: −$223 /mo · $2,677/yr
• Insurance: −$33
• HOA: −$250
• Vacancy / Maint / Mgmt: −$302
• Net cashflow: $210

Break-even live

Break-even rent $1,172

Max offer price $80,000

Occupancy floor 80%

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: $20,000
• Closing costs: $2,400
• Reserves months: —
• Total cash needed: —

Rent comps 17 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
9962 Catalina Dr Indianapolis, IN	3.0	1.0	1236	$1,600	$1.29	4d	1	0.23mi
3962 Strathmore Dr Indianapolis, IN	3.0	1.0	925	$1,250	$1.35	23d	1	0.40mi
10101 Montery Rd Indianapolis, IN	2.0	1.0	627	$1,439	$2.30	1d	10	0.50mi
9438 Conried Dr Indianapolis, IN	3.0	1.0	1094	$1,445	$1.32	4d	1	0.59mi
9226 E 36th Pl Indianapolis, IN	3.0	1.0	1073	$1,250	$1.16	7d	1	0.59mi
3645 Wingate Ct Indianapolis, IN	3.0	1.0–2.0	774	$1,258	$1.62	23d	6	0.62mi
9060 E 39th Pl Indianapolis, IN	1.0–2.0	1.0–1.5	820	$1,040	$1.27	23d	1	0.79mi
8914 Elmonte Dr Indianapolis, IN	3.0	1.5	1500	$1,600	$1.07	23d	1	0.98mi
3631 Decamp Dr Indianapolis, IN	3.0	1.0	1000	$1,335	$1.33	23d	1	0.98mi
8862 Bel Air Ct Indianapolis, IN	3.0	1.0	1073	$1,264	$1.18	17d	1	0.99mi
3665 Coneflower Way Indianapolis, IN	3.0	2.0	1030	$1,375	$1.33	43d	1	1.01mi
3540 Dubarry Ct Indianapolis, IN	3.0	2.0	1297	$1,400	$1.08	23d	1	1.04mi
3809 Biscayne Rd Indianapolis, IN	2.0	1.5	992	$1,020	$1.03	14d	1	1.04mi
3815 Biscayne Rd Indianapolis, IN	3.0	1.5	1188	$1,220	$1.03	14d	1	1.04mi
3938 Biscayne Rd Indianapolis, IN	3.0	1.0	1000	$1,895	$1.90	2d	1	1.08mi
8738 Montery Rd Indianapolis, IN	3.0	1.0	1421	$1,396	$0.98	7d	1	1.12mi
8724 Montery Rd Indianapolis, IN	3.0	1.0	925	$1,500	$1.62	43d	1	1.14mi

HOA detail condo

• Monthly dues: $250 · $3,000/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 16 events

1. 2026-06-18
   days on market $80,000 Active 31 DOM
2. 2026-06-17
   days on market $80,000 Active 30 DOM
3. 2026-06-16
   days on market $80,000 Active 29 DOM
4. 2026-06-15
   days on market $80,000 Active 28 DOM
5. 2026-06-13
   days on market $80,000 Active 26 DOM
6. 2026-06-13
   days on market $80,000 Active 25 DOM
7. 2026-06-09
   days on market $80,000 Active 22 DOM
8. 2026-06-08
   days on market $80,000 Active 21 DOM
9. 2026-06-07
   days on market $80,000 Active 20 DOM
10. 2026-06-03
    days on market $80,000 Active 16 DOM
11. 2026-06-02
    days on market $80,000 Active 15 DOM
12. 2026-06-01
    days on market $80,000 Active 14 DOM
13. 2026-05-31
    days on market $80,000 Active 13 DOM
14. 2026-05-18
    listed $80,000 Active
15. 2008-01-11
    soldstatus $10,000 118-char remark

    Show marketing remark (118 chars)

    Investors take a look!!! Bank owned property with great potential. Property Sold AS-IS. Room sizes are approximate.

16. 2007-01-05
    listed $16,900 118-char remark

    Show marketing remark (118 chars)

    Investors take a look!!! Bank owned property with great potential. Property Sold AS-IS. Room sizes are approximate.

ⓘ 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: $2,677 · $223/mo
• Projected year-2 tax: $2,677 · $223/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: $17,252
• − Mortgage interest: −$4,481
• − Property taxes: −$2,677
• − Insurance: −$400
• − Repairs & maintenance: −$1,380
• − Management: −$1,380
• − HOA: −$3,000
• − Depreciation: −$2,327
• Taxable income: $1,606
• Est. tax owed @ 24.0%: −$385
• After-tax cash flow: $2,132/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

+373.4% since first listed

3 events — show timeline

• 2026-05-18 Listed $80,000 MIBOR as Distributed by MLS Grid
• 2008-01-11 Sold (MLS) $10,000 MIBOR as Distributed by MLS Grid
• 2007-01-05 Listed $16,900 MIBOR as Distributed by MLS Grid

Property tax history

+17.5%/yr

Latest (2025): $2,677 · +90.0% YoY. Source: county tax records.