1367 N Kealing Ave · Indianapolis city (balance), IN 46201

$74,900

2 bd · 1.0 ba · 960 sqft · SingleFamily public records · 31 Days on market

Built 1914 4,661 sqft lot $78/sqft · 12% below area

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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 +29.4/30.0
• DSCR +10.0/10.0
• 1% rule +8.2/10.0
• ARV discount +7.5/15.0
• Rent growth +4.3/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.4/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Great starter home/investor property. 2 Bedroom/1 Bath Bungalow with basement. Property needs cosmetics and work- but has loads of potential. Hardwood floors, covered porch, working mechanicals- all utilities operable. Newer roof, soffits & gutters in good condition- Large lot- Property is sold- AS-IS.

Key facts

• Covered front porch
• Hardwood flooring
• Spacious backyard

Tags

• COVERED FRONT PORCH
• SPACIOUS LIVING ROOM
• BUILT-IN STORAGE
• HARDWOOD FLOORING
• SPACIOUS BACKYARD

Property features AI

Exterior

• Parking: Detached garage (1 car, approximately 280 sq ft)
• Utilities: Public water; Municipal sewer connected; Electricity connected; Natural gas available
• Home design: Single-family residence; One story; Faces west; Property listed as fixer condition
• Construction: Brick and vinyl siding exterior; Block foundation
• Exterior features: Covered porch/patio; Chain link fence; Mature trees and small trees; Curbs and sidewalks; Has a view

Interior

• Kitchen: Kitchen (main level)
• Bedrooms: Two bedrooms on the main level
• Flooring: Hardwood floors
• Bathrooms: One full bathroom (main level)
• Heating & cooling: Forced air heating (natural gas); Central air conditioning
• Interior features: Hardwood floors; Pantry; Utility room
• Laundry & utility: Main level laundry; Basement utility room / storage (unfinished)

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $75k.

Deal economics

• At list price, monthly cash flow is $266 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($992 rent vs $75k).
• Recommended offer: $73k (3.0% below list) — sets the bar for market timing.
• Cap rate 10.6% 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: Arsenal Technical High School (math 6% / reading 27%, grade F, #353 of 369 statewide, top 96%, 2,366 students, 74% FRL) — zoned schools at 74% FRL track the district average.
• Market conditions: Rents rising fast (+7.3%/yr); 480 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 24d 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 $518 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.
• At projected returns (-3.0% appreciation + 7.3% rent growth), your $21k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 31 days — a 3% lower offer ($73k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 11y 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 $22k; list at $75k implies a 240% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1914 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $72,653 (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 1914 — 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: 1.32% ✓
• Cap rate: 10.56%
• Cash-on-cash: 15.23%
• DSCR: 1.68
• GRM: 6.3

CMA / ARV

• ARV (median comp): $171,007
• List price: $74,900
• Delta: -56.20%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1536 N Sherman Dr	0.12mi	2/1.0	816 (-15%)	7mo	$55,000	$67	63
1235 N Grant Ave	0.33mi	2/1.0	1,056 (+10%)	8mo	$80,000	$76	61
1311 N Grant Ave	0.31mi	1/1.0 (-1)	1,008 (+5%)	16mo	$105,000	$104	59
1409 N Denny St	0.18mi	1/1.0 (-1)	858 (-11%)	14mo	$65,000	$76	57
2818 E 17th St	0.68mi	2/2.0	1,024 (+7%)	3mo	$205,000	$200	50
2049 Houston St	0.70mi	3/1.0 (+1)	912 (-5%)	7mo	$117,000	$128	48
2030 Houston St	0.68mi	3/2.0 (+1)	912 (-5%)	7mo	$130,000	$143	46
714 N Grant Ave	0.73mi	2/1.0	1,087 (+13%)	2mo	$54,000	$50	43
4218 E 18th St	0.50mi	3/1.0 (+1)	1,080 (+12%)	10mo	$170,000	$157	42
2022 N Olney St	0.61mi	2/1.0	1,092 (+14%)	13mo	$81,000	$74	37
3109 E St Joseph St	0.60mi	3/2.0 (+1)	1,078 (+12%)	10mo	$108,000	$100	34
4109 East 21st St	0.73mi	3/1.0 (+1)	1,080 (+12%)	11mo	$85,000	$79	31

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 · 7.31% rent growth · sell at horizon

5-year hold

• IRR: 10.7%
• Equity multiple: 1.44×
• Total profit: $9,320
• Equity at exit: $11,168

10-year hold

• IRR: 23.0%
• Equity multiple: 3.39×
• Total profit: $50,143
• Equity at exit: $6,476

Cash invested: $20,972 (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 46201

• Home prices YoY: -33.9%
• Rents YoY: 7.3%
• Active inventory: 480
• Price-to-rent: 6.3×

Monthly cashflow live

• Estimated rent: $992 high
• Mortgage (P&I): −$393
• Tax est. 1.5%: −$94 /mo · $1,124/yr
• Insurance: −$31
• HOA: −$0
• Vacancy / Maint / Mgmt: −$208
• Net cashflow: $266

Break-even live

Break-even rent $655

Max offer price $74,900

Occupancy floor 68%

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: $18,725
• Closing costs: $2,247
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1532 N Sherman Dr Unit 1530 Sherman Indianapolis, IN	1.0	1.0	768	$550	$0.72	2d	1	0.10mi
3617 Brookside Parkway South Dr Indianapolis, IN	2.0	1.0	800	$999	$1.25	23d	1	0.11mi
3709 Brookside Parkway South Dr Indianapolis, IN	1.0	1.0	742	$825	$1.11	23d	1	0.11mi
3601 Brookside Parkway South Dr Indianapolis, IN	2.0	1.0	1025	$995	$0.97	23d	1	0.12mi
3601 Brookside Parkway South Dr Indianapolis, IN	2.0	1.0	1025	$995	$0.97	43d	1	0.12mi
1358 N Gale St Indianapolis, IN	1.0	1.0	550	$890	$1.62	16d	1	0.13mi
1421 N Olney St Indianapolis, IN	2.0	1.0	1064	$975	$0.92	10d	1	0.15mi
1354 N Olney St Unit 1356 Indianapolis, IN	1.0	1.0	765	$775	$1.01	43d	1	0.19mi
1513 N Denny St Indianapolis, IN	3.0	1.0	874	$1,399	$1.60	23d	1	0.20mi
1417 N Denny St Indianapolis, IN	2.0	1.0	1000	$1,125	$1.12	23d	1	0.21mi
1301 N Olney St Unit 1303 Indianapolis, IN	2.0	1.0	750	$1,100	$1.47	43d	1	0.22mi
1505 N Tuxedo St Unit 1507 Indianapolis, IN	2.0	1.0	1000	$1,100	$1.10	43d	1	0.23mi
1518 N Chester Ave Indianapolis, IN	2.0	1.0	672	$700	$1.04	7d	1	0.24mi
1509 N Chester Ave Indianapolis, IN	2.0	1.0	950	$1,100	$1.16	21d	1	0.26mi
1306 N Chester Ave Indianapolis, IN	1.0	1.0	600	$800	$1.33	20d	1	0.28mi
1327 N Chester Ave Indianapolis, IN	1.0	1.0	600	$795	$1.32	14d	1	0.28mi
1506 N Grant Ave Indianapolis, IN	2.0	1.0	780	$1,150	$1.47	14d	1	0.30mi
1106 N Gale St Unit 1 Indianapolis, IN	2.0	1.0	750	$895	$1.19	43d	1	0.31mi
1531 N Grant Ave Indianapolis, IN	1.0	1.0	611	$875	$1.43	23d	1	0.33mi
1450 N Gladstone Ave Indianapolis, IN	1.0	1.0	588	$799	$1.36	43d	1	0.36mi
1510 N Gladstone Ave Indianapolis, IN	1.0	1.0	570	$765	$1.34	43d	1	0.36mi
1512 N Gladstone Ave Unit 1510 1510 Indianapolis, IN	1.0	1.0	570	$830	$1.46	14d	1	0.36mi
1028 N Olney St Unit 1030 Indianapolis, IN	1.0	1.0	700	$800	$1.14	23d	1	0.38mi
1036 N Tuxedo St Indianapolis, IN	1.0	1.0	646	$750	$1.16	4d	1	0.40mi
1432 N Colorado Ave Indianapolis, IN	1.0	1.0	584	$875	$1.50	23d	1	0.43mi
1421 N Colorado Ave Indianapolis, IN	2.0	1.0	983	$1,225	$1.25	23d	1	0.45mi
1114 N Dearborn St Indianapolis, IN	1.0	1.0	646	$795	$1.23	44d	1	0.48mi
910 N Ewing St Unit 910 Ewing Indianapolis, IN	1.0	1.0	832	$625	$0.75	23d	1	0.52mi
3058 Brookside Parkway North Dr Indianapolis, IN	1.0	1.0	700	$875	$1.25	12d	1	0.56mi
927 N Chester Ave Indianapolis, IN	1.0	1.0	596	$750	$1.26	43d	1	0.57mi
822 N Bradley Ave Unit 822 Indianapolis, IN	3.0	1.0	1100	$1,200	$1.09	43d	1	0.62mi
3030 E 10th St Indianapolis, IN	2.0	1.0	950	$900	$0.95	21d	1	0.62mi
821 N Bradley Ave Indianapolis, IN	1.0	1.0	663	$850	$1.28	4d	1	0.62mi
896 N Gladstone Ave Indianapolis, IN	1.0	1.0	580	$775	$1.34	43d	1	0.62mi
3101 E 10th St #301 Indianapolis, IN	2.0	1.0	921	$1,195	$1.30	43d	1	0.62mi
1113 N Oxford St Indianapolis, IN	3.0	2.0	1100	$1,495	$1.36	7d	1	0.64mi
1315 N Rural St Indianapolis, IN	1.0	1.0	700	$1,000	$1.43	4d	1	0.66mi
2827 E 18th St Indianapolis, IN	2.0	1.0	726	$1,300	$1.79	23d	1	0.67mi
850 N Dearborn St Indianapolis, IN	1.0	1.0	784	$750	$0.96	43d	1	0.67mi
1931 N Oxford St Indianapolis, IN	1.0	1.0	616	$875	$1.42	4d	1	0.69mi

Listing history 23 events

1. 2026-06-18
   days on market $74,900 Active 31 DOM
2. 2026-06-17
   days on market $74,900 Active 30 DOM
3. 2026-06-16
   days on market $74,900 Active 29 DOM
4. 2026-06-15
   status $74,900 Active 28 DOM
5. 2026-06-10
   status $74,900 Pending 28 DOM
6. 2026-06-09
   days on market $74,900 Active 28 DOM
7. 2026-06-08
   days on market $74,900 Active 27 DOM
8. 2026-06-07
   days on market $74,900 Active 26 DOM
9. 2026-06-03
   days on market $74,900 Active 22 DOM
10. 2026-06-02
    days on market $74,900 Active 21 DOM
11. 2026-06-01
    days on market $74,900 Active 20 DOM
12. 2026-05-31
    days on market $74,900 Active 19 DOM
13. 2026-05-12
    listed $74,900 Active 381-char remark
14. 2025-03-29
    historical
15. 2024-01-31
    price $135,000
16. 2024-01-10
    status Active
17. 2023-12-31
    historical
18. 2023-08-07
    listed $159,900 Active
19. 2017-10-19
    status Pending

    Show marketing remark (307 chars)

    Great starter home/investor property. 2 Bedroom/1 Bath Bungalow with basement. Property needs cosmetics and work- but has loads of potential. Hardwood floors, covered porch, working mechanicals- all utilities operable. Newer roof, soffits & gutters in good condition- Large lot- Property is sold- AS-IS.

20. 2017-10-19
    soldstatus $22,000 Sold

    Show marketing remark (307 chars)

    Great starter home/investor property. 2 Bedroom/1 Bath Bungalow with basement. Property needs cosmetics and work- but has loads of potential. Hardwood floors, covered porch, working mechanicals- all utilities operable. Newer roof, soffits & gutters in good condition- Large lot- Property is sold- AS-IS.

21. 2017-06-12
    listed $28,900 Active

    Show marketing remark (307 chars)

    Great starter home/investor property. 2 Bedroom/1 Bath Bungalow with basement. Property needs cosmetics and work- but has loads of potential. Hardwood floors, covered porch, working mechanicals- all utilities operable. Newer roof, soffits & gutters in good condition- Large lot- Property is sold- AS-IS.

22. 2016-08-19
    historical
23. 2015-08-20
    listed $34,900 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

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 ≥102°F today · 19 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 0% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 5 unhealthy d/yr today · 7 by 30 yrs out

Taxation est. · year 1

• Rental income: $11,906
• − Mortgage interest: −$4,196
• − Property taxes: −$1,124
• − Insurance: −$374
• − Repairs & maintenance: −$952
• − Management: −$952
• − Depreciation: −$2,179
• Taxable income: $2,128
• Est. tax owed @ 24.0%: −$511
• After-tax cash flow: $2,683/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): 30,335
• Household income: $49,195
• Rent vs Own: 48.4% rent · 51.6% own
• Severe rent burden: 1906.0

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 0.63)
• Race & ethnicity: White 53% Hispanic / Latino 23% Black 18% Two or more races 9%
• Hispanic origin (detail): Mexican 14% Puerto Rican 2%
• Common ancestry: Slovak 2% Lithuanian 2% Italian 1%
• Foreign-born: 9% · Canada
• Languages at home: 81% English-only · Spanish 17%

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: ▼ -192.51%
• Current HPI: 375.0969
• Rent YoY: ▲ 7.31%
• 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

+114.6% since first listed

13 events — show timeline

• 2026-06-15 Relisted — MIBOR as Distributed by MLS Grid
• 2026-06-09 Pending — MIBOR as Distributed by MLS Grid
• 2026-05-12 Listed $74,900 MIBOR as Distributed by MLS Grid
• 2025-03-29 Listing Removed — MIBOR as Distributed by MLS Grid
• 2024-01-31 Price Changed $135,000 MIBOR as Distributed by MLS Grid
• 2024-01-10 Relisted — MIBOR as Distributed by MLS Grid
• 2023-12-31 Listing Removed — MIBOR as Distributed by MLS Grid
• 2023-08-07 Listed $159,900 MIBOR as Distributed by MLS Grid
• 2017-10-19 Pending — MIBOR as Distributed by MLS Grid
• 2017-10-19 Sold (MLS) $22,000 MIBOR as Distributed by MLS Grid
• 2017-06-12 Listed $28,900 MIBOR as Distributed by MLS Grid
• 2016-08-19 Listing Removed — MIBOR as Distributed by MLS Grid
• 2015-08-20 Listed $34,900 MIBOR as Distributed by MLS Grid

Property tax history

+64.8%/yr

Latest (2025): $5,392 · +8.3% YoY. Source: county tax records.