9792 Kingscross Ct · Indianapolis city (balance), IN 46235

$45,000

2 bd · 1.0 ba · 877 sqft · Condo · 126 Days on market

Built 1973 $51/sqft · 36% below area Est $70k · 36% under $250/mo HOA · 18% of rent

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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
• 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 MLS

Income producing condominium located in the Tudor Park community. This well maintained condo features a functional floor plan with private patio and an attached garage. Currently tenant occupied, making it an ideal opportunity for investors seeking a low maintenance property. Conveniently located near shopping, dining, and major commuter routes. CASH ONLY

Key facts

• Near dining
• Attached garage
• Near shopping

Tags

• PRIVATE PATIO
• ATTACHED GARAGE
• LOW MAINTENANCE PROPERTY
• NEAR SHOPPING
• NEAR DINING
• MAJOR COMMUTER ROUTES

🏷️ Possibly a rental listed for sale. The $45,000 price doesn't fit this home's estimated sale value (~$70,000) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $45k.

Deal economics

• At list price, monthly cash flow is $486 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $45k).
• Recommended offer: $40k (12.0% below list) — sets the bar for market timing.
• Cap rate 19.2% 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 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: Center For Inquiry School 27 (math 25% / reading 29%, grade F, #737 of 994 statewide, top 76%, 525 students, 51% 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 (+2.6%/yr); 55 active listings in the ZIP; 14 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).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $311 of loan paydown is wiped out by about $1k 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 + 2.6% rent growth), your $13k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 126 days — a 12% lower offer ($40k) is reasonable based on typical stale-listing flexibility.
• 11 sale attempts since 24y ago; this cycle's ask has dropped $35k (44%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: property tax is 2.7% of price.

Recommended offer $39,600 (12.0% below list)

Questions for the listing agent

1. It's been on market 126 days. Have you received any prior offers? Is the seller open to a 12% 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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. 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.
9. 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.
10. 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: 3.07% ✓
• Cap rate: 19.24%
• Cash-on-cash: 46.25%
• DSCR: 3.06
• GRM: 2.7

CMA / ARV

• ARV (median comp): $70,000
• List price: $45,000
• Delta: -35.71%
• Verdict: UNDERPRICED
• Comps: 17 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 43.0%
• Equity multiple: 2.84×
• Total profit: $23,230
• Equity at exit: $6,710

10-year hold

• IRR: 48.9%
• Equity multiple: 5.63×
• Total profit: $58,398
• Equity at exit: $3,891

Cash invested: $12,600 (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: 2.7×

Monthly cashflow live

• Estimated rent: $1,383 high
• Mortgage (P&I): −$236
• Tax from tax record: −$102 /mo · $1,230/yr
• Insurance: −$19
• HOA: −$250
• Vacancy / Maint / Mgmt: −$290
• Net cashflow: $486

Break-even live

Break-even rent $769

Max offer price $45,000

Occupancy floor 60%

Sensitivity live

Price	-10% $511	-5% $498	+0% $486	+5% $473	+10% $460
Rent	-10% $376	-5% $431	+0% $486	+5% $540	+10% $595
Rate	-1.0pp $508	-0.5pp $497	base $486	+0.5pp $474	+1.0pp $462

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: $11,250
• Closing costs: $1,350
• Reserves months: —
• Total cash needed: —

Rent comps 14 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3962 Strathmore Dr Indianapolis, IN	3.0	1.0	925	$1,250	$1.35	25d	1	0.39mi
9519 Conried Dr Indianapolis, IN	3.0	1.0	925	$1,275	$1.38	0d	1	0.45mi
10101 Montery Rd Indianapolis, IN	2.0	1.0	627	$1,439	$2.30	3d	10	0.53mi
9226 E 36th Pl Indianapolis, IN	3.0	1.0	1073	$1,250	$1.16	9d	1	0.54mi
9438 Conried Dr Indianapolis, IN	3.0	1.0	1094	$1,445	$1.32	6d	1	0.56mi
3645 Wingate Ct Indianapolis, IN	3.0	1.0–2.0	774	$1,258	$1.62	25d	6	0.67mi
9060 E 39th Pl Indianapolis, IN	1.0–2.0	1.0–1.5	820	$1,040	$1.27	25d	1	0.74mi
3631 Decamp Dr Indianapolis, IN	3.0	1.0	1000	$1,335	$1.33	25d	1	0.93mi
8862 Bel Air Ct Indianapolis, IN	3.0	1.0	1073	$1,264	$1.18	19d	1	0.93mi
3809 Biscayne Rd Indianapolis, IN	2.0	1.5	992	$1,020	$1.03	16d	1	0.99mi
3938 Biscayne Rd Indianapolis, IN	3.0	1.0	1000	$1,895	$1.90	4d	1	1.03mi
3665 Coneflower Way Indianapolis, IN	3.0	2.0	1030	$1,375	$1.33	45d	1	1.06mi
8724 Montery Rd Indianapolis, IN	3.0	1.0	925	$1,500	$1.62	45d	1	1.09mi
4315 Aspen Way Indianapolis, IN	3.0	1.0	1080	$1,380	$1.28	45d	1	1.49mi

HOA detail condo

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

Listing history 26 events

1. 2026-05-16
   status Pending 357-char remark

   Show marketing remark (357 chars)

   Income producing condominium located in the Tudor Park community. This well maintained condo features a functional floor plan with private patio and an attached garage. Currently tenant occupied, making it an ideal opportunity for investors seeking a low maintenance property. Conveniently located near shopping, dining, and major commuter routes. CASH ONLY

2. 2026-05-14
   price $45,000 357-char remark

   Show marketing remark (357 chars)

   Income producing condominium located in the Tudor Park community. This well maintained condo features a functional floor plan with private patio and an attached garage. Currently tenant occupied, making it an ideal opportunity for investors seeking a low maintenance property. Conveniently located near shopping, dining, and major commuter routes. CASH ONLY

3. 2026-05-14
   status Active 357-char remark

   Show marketing remark (357 chars)

   Income producing condominium located in the Tudor Park community. This well maintained condo features a functional floor plan with private patio and an attached garage. Currently tenant occupied, making it an ideal opportunity for investors seeking a low maintenance property. Conveniently located near shopping, dining, and major commuter routes. CASH ONLY

4. 2026-05-13
   historical 357-char remark

   Show marketing remark (357 chars)

   Income producing condominium located in the Tudor Park community. This well maintained condo features a functional floor plan with private patio and an attached garage. Currently tenant occupied, making it an ideal opportunity for investors seeking a low maintenance property. Conveniently located near shopping, dining, and major commuter routes. CASH ONLY

5. 2026-04-28
   status Active 357-char remark

   Show marketing remark (357 chars)

   Income producing condominium located in the Tudor Park community. This well maintained condo features a functional floor plan with private patio and an attached garage. Currently tenant occupied, making it an ideal opportunity for investors seeking a low maintenance property. Conveniently located near shopping, dining, and major commuter routes. CASH ONLY

6. 2026-04-09
   status Pending 357-char remark

   Show marketing remark (357 chars)

   Income producing condominium located in the Tudor Park community. This well maintained condo features a functional floor plan with private patio and an attached garage. Currently tenant occupied, making it an ideal opportunity for investors seeking a low maintenance property. Conveniently located near shopping, dining, and major commuter routes. CASH ONLY

7. 2026-03-11
   price $65,000 357-char remark

   Show marketing remark (357 chars)

   Income producing condominium located in the Tudor Park community. This well maintained condo features a functional floor plan with private patio and an attached garage. Currently tenant occupied, making it an ideal opportunity for investors seeking a low maintenance property. Conveniently located near shopping, dining, and major commuter routes. CASH ONLY

8. 2025-12-20
   listed $80,000 Active 357-char remark

   Show marketing remark (357 chars)

   Income producing condominium located in the Tudor Park community. This well maintained condo features a functional floor plan with private patio and an attached garage. Currently tenant occupied, making it an ideal opportunity for investors seeking a low maintenance property. Conveniently located near shopping, dining, and major commuter routes. CASH ONLY

9. 2024-01-05
   soldstatus $57,900 Closed 147-char remark

   Show marketing remark (147 chars)

   Great opportunity in Warren township! 2 Bedroom 1 bath condo. With a few touches, would be great for a first time homebuyer or investment property.

10. 2023-12-15
    status Pending 147-char remark

    Show marketing remark (147 chars)

    Great opportunity in Warren township! 2 Bedroom 1 bath condo. With a few touches, would be great for a first time homebuyer or investment property.

11. 2023-12-11
    price $60,900 147-char remark

    Show marketing remark (147 chars)

    Great opportunity in Warren township! 2 Bedroom 1 bath condo. With a few touches, would be great for a first time homebuyer or investment property.

12. 2023-11-14
    listed $69,000 Active 147-char remark

    Show marketing remark (147 chars)

    Great opportunity in Warren township! 2 Bedroom 1 bath condo. With a few touches, would be great for a first time homebuyer or investment property.

13. 2005-01-14
    soldstatus $20,500
14. 2004-09-16
    historical
15. 2004-08-13
    listed $24,900
16. 2004-06-16
    historical
17. 2004-05-20
    listed $24,900
18. 2004-03-26
    historical
19. 2004-02-19
    listed $26,900
20. 2003-08-10
    historical
21. 2003-06-26
    listed $26,900
22. 2003-02-13
    listed $26,900
23. 2003-01-25
    historical
24. 2002-12-31
    historical
25. 2002-08-05
    listed $28,999
26. 2002-01-23
    listed $29,000

ⓘ 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: $1,230 · $102/mo
• Projected year-2 tax: $1,230 · $102/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 (shaded) · 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: $16,600
• − Mortgage interest: −$2,521
• − Property taxes: −$1,230
• − Insurance: −$225
• − Repairs & maintenance: −$1,328
• − Management: −$1,328
• − HOA: −$3,000
• − Depreciation: −$1,309
• Taxable income: $5,659
• Est. tax owed @ 24.0%: −$1,358
• After-tax cash flow: $4,469/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

+55.2% since first listed

26 events — show timeline

• 2026-05-16 Pending — MIBOR as Distributed by MLS Grid
• 2026-05-14 Price Changed $45,000 MIBOR as Distributed by MLS Grid
• 2026-05-14 Relisted — MIBOR as Distributed by MLS Grid
• 2026-05-13 Listing Removed — MIBOR as Distributed by MLS Grid
• 2026-04-28 Relisted — MIBOR as Distributed by MLS Grid
• 2026-04-09 Pending — MIBOR as Distributed by MLS Grid
• 2026-03-11 Price Changed $65,000 MIBOR as Distributed by MLS Grid
• 2025-12-20 Listed $80,000 MIBOR as Distributed by MLS Grid
• 2024-01-05 Sold (MLS) $57,900 MIBOR as Distributed by MLS Grid
• 2023-12-15 Pending — MIBOR as Distributed by MLS Grid
• 2023-12-11 Price Changed $60,900 MIBOR as Distributed by MLS Grid
• 2023-11-14 Listed $69,000 MIBOR as Distributed by MLS Grid
• 2005-01-14 Sold (MLS) $20,500 MIBOR as Distributed by MLS Grid
• 2004-09-16 Listing Removed — MIBOR as Distributed by MLS Grid
• 2004-08-13 Listed $24,900 MIBOR as Distributed by MLS Grid
• 2004-06-16 Listing Removed — MIBOR as Distributed by MLS Grid
• 2004-05-20 Listed $24,900 MIBOR as Distributed by MLS Grid
• 2004-03-26 Listing Removed — MIBOR as Distributed by MLS Grid
• 2004-02-19 Listed $26,900 MIBOR as Distributed by MLS Grid
• 2003-08-10 Listing Removed — MIBOR as Distributed by MLS Grid
• 2003-06-26 Listed $26,900 MIBOR as Distributed by MLS Grid
• 2003-02-13 Listed $26,900 MIBOR as Distributed by MLS Grid
• 2003-01-25 Listing Removed — MIBOR as Distributed by MLS Grid
• 2002-12-31 Listing Removed — MIBOR as Distributed by MLS Grid
• 2002-08-05 Listed $28,999 MIBOR as Distributed by MLS Grid
• 2002-01-23 Listed $29,000 MIBOR as Distributed by MLS Grid

Property tax history

+14.2%/yr

Latest (2025): $1,230 · +70.8% YoY. Source: county tax records.