3722 Celtic Dr · Indianapolis city (balance), IN 46235

$159,000

3 bd · 2.0 ba · 1,234 sqft · SingleFamily public records · 21 Days on market

Built 1962 8,059 sqft lot Est $137k · 16% over ↓ 20% since listing

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Why this score? — see what drove the D+ 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 +23.4/30.0
• DSCR +7.5/10.0
• 1% rule +4.9/10.0
• Rent growth +3.1/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.4/10.0
• ARV discount +0.3/15.0
• Appreciation +0.0/10.0

Listing remarks

Discover the charm of 3722 Celtic DR, a delightful single-family residence in INDIANAPOLIS, IN. Built in 1962, this 1234 square foot home offers a comfortable and inviting atmosphere, perfect for crafting your ideal lifestyle. This welcoming residence provides three well-proportioned bedrooms, offering versatile spaces for rest and personalization. The two full bathrooms ensure convenience and comfort for residents and guests alike. Situated on a generous 8059 square foot lot, this property presents ample outdoor space for relaxation and enjoyment. The single-story layout enhances accessibility and flow throughout the home. Explore the possibilities and envision your future in this inviting

Key facts

• 8,059 sq ft lot
• Garage
• Built 1962

Property features AI

Exterior

• Parking: Attached garage (1 car)
• Security: Smoke detector(s)
• Utilities: Public water; Municipal sewer connection; Solid waste service available
• Home design: Single family residence; One level
• Construction: Aluminum siding and brick exterior; Slab foundation
• Exterior features: Less than 1/4 acre lot (approximately 0.19 acres); Has a view

Interior

• Kitchen: Electric oven; Refrigerator; Range hood
• Bedrooms: 3 bedrooms (all on the main level)
• Bathrooms: 2 full bathrooms; Primary bathroom with full shower stall and suite
• Heating & cooling: Natural gas heating; Central air conditioning
• Interior features: Attic access; Eat-in kitchen; One masonry fireplace in the living room
• Laundry & utility: Main-level laundry room

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $159k.

Deal economics

• At list price, monthly cash flow is $293 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $158k (0.5% below list).
• Recommended offer: $157k (1.5% below list) — sets the bar for market timing.
• Cap rate 8.5% 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 D — 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; 35 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 32% 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 $1k of loan paydown is wiped out by about $5k 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 21 days — a 2% lower offer ($157k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 2y 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.

Recommended offer $156,615 (1.5% below list)

Questions for the listing agent

1. Built in 1962 — 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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 0.99% ✗
• Cap rate: 8.51%
• Cash-on-cash: 7.91%
• DSCR: 1.35
• GRM: 8.4

CMA / ARV

• ARV (on-the-fly): $136,974
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3444 Hermosa Ct	0.31mi	3/1.5	1,262 (+2%)	3mo	$145,000	$115	77
9819 Bishop Ct	0.53mi	4/2.0 (+1)	1,225 (-1%)	1mo	$136,500	$111	69
9048 E 36th St	0.23mi	3/1.0	1,311 (+6%)	8mo	$130,000	$99	68
4149 Mellis Dr	0.59mi	3/1.0	1,236 (+0%)	0mo	$161,000	$130	68
3601 Luewan Dr	0.44mi	3/2.0	1,284 (+4%)	7mo	$110,000	$86	67
3851 Marseille Rd	0.70mi	3/1.5	1,183 (-4%)	4mo	$185,000	$156	55
3525 Luewan Ct	0.32mi	4/1.0 (+1)	1,107 (-10%)	5mo	$120,000	$108	55
9613 E 39th Pl	0.43mi	3/1.0	1,073 (-13%)	2mo	$125,000	$116	53
3856 Catalina Ct	0.61mi	3/1.0	1,344 (+9%)	3mo	$135,000	$100	50
9438 Conried Dr	0.50mi	3/1.0	1,094 (-11%)	5mo	$130,000	$119	50
3930 Chateau Dr	0.69mi	3/1.0	1,073 (-13%)	1mo	$99,000	$92	41
4132 Biscayne Rd	0.66mi	3/1.0	1,073 (-13%)	5mo	$104,900	$98	40

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: -4.7%
• Equity multiple: 0.82×
• Total profit: $-7,834
• Equity at exit: $23,707

10-year hold

• IRR: 4.4%
• Equity multiple: 1.32×
• Total profit: $14,152
• Equity at exit: $13,747

Cash invested: $44,520 (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: 8.4×

Monthly cashflow live

• Estimated rent: $1,582 high
• Mortgage (P&I): −$834
• Tax from tax record: −$56 /mo · $671/yr
• Insurance: −$66
• HOA: −$0
• Vacancy / Maint / Mgmt: −$332
• Net cashflow: $293

Break-even live

Break-even rent $1,210

Max offer price $159,000

Occupancy floor 76%

Sensitivity live

Price	-10% $383	-5% $338	+0% $293	+5% $248	+10% $203
Rent	-10% $169	-5% $231	+0% $293	+5% $356	+10% $418
Rate	-1.0pp $374	-0.5pp $334	base $293	+0.5pp $252	+1.0pp $210

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: $39,750
• Closing costs: $4,770
• Reserves months: —
• Total cash needed: —

Rent comps 35 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3747 Ireland Dr Indianapolis, IN	4.0	1.5	1400	$1,700	$1.21	24d	1	0.14mi
9226 E 36th Pl Indianapolis, IN	3.0	1.0	1073	$1,250	$1.16	8d	1	0.19mi
3525 Luewan Ct Indianapolis, IN	4.0	1.0	1107	$1,750	$1.58	24d	1	0.34mi
9060 E 39th Pl Indianapolis, IN	1.0–2.0	1.0–1.5	820	$1,040	$1.27	24d	1	0.34mi
3519 Jerome Ct Indianapolis, IN	4.0	1.0	1107	$1,995	$1.80	24d	1	0.37mi
3631 Decamp Dr Indianapolis, IN	3.0	1.0	1000	$1,335	$1.33	24d	1	0.41mi
8862 Bel Air Ct Indianapolis, IN	3.0	1.0	1073	$1,264	$1.18	18d	1	0.45mi
3809 Biscayne Rd Indianapolis, IN	2.0	1.5	992	$1,020	$1.03	15d	1	0.46mi
3815 Biscayne Rd Indianapolis, IN	3.0	1.5	1188	$1,220	$1.03	15d	1	0.46mi
3821 Biscayne Rd Indianapolis, IN	4.0	1.5	1188	$1,325	$1.12	15d	1	0.47mi
3823 Biscayne Rd Indianapolis, IN	4.0	1.5	1188	$1,320	$1.11	15d	1	0.47mi
3829 Biscayne Rd Indianapolis, IN	4.0	1.5	1188	$1,320	$1.11	15d	1	0.47mi
9438 Conried Dr Indianapolis, IN	3.0	1.0	1094	$1,445	$1.32	5d	1	0.48mi
3540 Dubarry Ct Indianapolis, IN	3.0	2.0	1297	$1,400	$1.08	24d	1	0.49mi
8914 Elmonte Dr Indianapolis, IN	3.0	1.5	1500	$1,600	$1.07	24d	1	0.50mi
3938 Biscayne Rd Indianapolis, IN	3.0	1.0	1000	$1,895	$1.90	4d	1	0.53mi
8738 Montery Rd Indianapolis, IN	3.0	1.0	1421	$1,396	$0.98	8d	1	0.61mi
8724 Montery Rd Indianapolis, IN	3.0	1.0	925	$1,500	$1.62	44d	1	0.62mi
3962 Strathmore Dr Indianapolis, IN	3.0	1.0	925	$1,250	$1.35	24d	1	0.63mi
9962 Catalina Dr Indianapolis, IN	3.0	1.0	1236	$1,600	$1.29	5d	1	0.70mi
9949 Ellis Dr Indianapolis, IN	4.0	2.0	1421	$1,580	$1.11	4d	1	0.83mi
10101 Montery Rd Indianapolis, IN	2.0	1.0	627	$1,439	$2.30	3d	10	0.94mi
8203 Penway St Indianapolis, IN	3.0	1.5	1360	$1,500	$1.10	24d	1	0.98mi
8501 Athens Ct Indianapolis, IN	4.0	1.0	1225	$1,475	$1.20	15d	1	0.98mi
4315 Aspen Way Indianapolis, IN	3.0	1.0	1080	$1,380	$1.28	44d	1	1.06mi
8254 Meadowlark Dr Unit 1 Indianapolis, IN	3.0	1.5	1320	$1,150	$0.87	44d	1	1.19mi
8254 Meadowlark Dr Indianapolis, IN	3.0	1.5	1320	$1,150	$0.87	23d	1	1.19mi
3645 Wingate Ct Indianapolis, IN	3.0	1.0–2.0	774	$1,500	$1.94	24d	6	1.21mi
3513 Roseway Dr Indianapolis, IN	3.0	2.0	1216	$1,600	$1.32	18d	1	1.22mi
7925 Crossbridge Dr Indianapolis, IN	2.0	2.0	1072	$1,200	$1.12	44d	1	1.24mi
7937 E 34th St Indianapolis, IN	4.0	1.0	1450	$2,000	$1.38	24d	1	1.28mi
7975 Red Mill Dr Indianapolis, IN	2.0	1.0	576	$975	$1.69	44d	1	1.31mi
7838 Ridgewood Dr Indianapolis, IN	3.0	2.0	936	$1,540	$1.65	44d	1	1.41mi
7838 Ridgewood Dr Indianapolis, IN	3.0	2.0	936	$1,540	$1.65	24d	1	1.41mi
3226 Wellington Ave Indianapolis, IN	3.0	1.0	900	$1,149	$1.28	11d	1	1.49mi

Listing history 14 events

1. 2026-06-21
   days on market $159,000 Active 21 DOM
2. 2026-06-18
   days on market $159,000 Active 18 DOM
3. 2026-06-17
   days on market $159,000 Active 17 DOM
4. 2026-06-16
   days on market $159,000 Active 16 DOM
5. 2026-06-15
   days on market $159,000 Active 15 DOM
6. 2026-06-13
   days on market $159,000 Active 13 DOM
7. 2026-06-13
   days on market $159,000 Active 12 DOM
8. 2026-06-09
   days on market $159,000 Active 9 DOM
9. 2026-06-08
   days on market $159,000 Active 8 DOM
10. 2026-06-07
    days on market $159,000 Active 7 DOM
11. 2026-06-03
    days on market $159,000 Active 3 DOM
12. 2026-06-02
    days on market $159,000 Active 2 DOM
13. 2026-05-31
    remarks 699-char remark
14. 2026-05-31
    listed $159,000 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: $671 · $56/mo
• Projected year-2 tax: $1,011 · $84/mo
• Expected delta: +$340/yr (+$28/mo · 50.7%)

ⓘ 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: $18,979
• − Mortgage interest: −$8,906
• − Property taxes: −$671
• − Insurance: −$795
• − Repairs & maintenance: −$1,518
• − Management: −$1,518
• − Depreciation: −$4,625
• Taxable income: $945
• Est. tax owed @ 24.0%: −$227
• After-tax cash flow: $3,295/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

-20.5% since first listed

10 events — show timeline

• 2026-05-31 Listed $159,000 MIBOR as Distributed by MLS Grid
• 2025-04-30 Listing Removed — MIBOR as Distributed by MLS Grid
• 2025-04-29 Relisted — MIBOR as Distributed by MLS Grid
• 2025-02-28 Relisted — MIBOR as Distributed by MLS Grid
• 2024-12-03 Price Changed $175,000 MIBOR as Distributed by MLS Grid
• 2024-12-03 Relisted — MIBOR as Distributed by MLS Grid
• 2024-10-18 Listing Removed — MIBOR as Distributed by MLS Grid
• 2024-08-07 Relisted — MIBOR as Distributed by MLS Grid
• 2024-08-07 Price Changed $187,000 MIBOR as Distributed by MLS Grid
• 2024-04-25 Listed $200,000 MIBOR as Distributed by MLS Grid

Property tax history

-4.7%/yr

Latest (2025): $671 · +2.0% YoY. Source: county tax records.