1541 E Tabor St · Indianapolis city (balance), IN 46203

$129,000

2 bd · 1.0 ba · 928 sqft · SingleFamily public records · 5 Days on market

Built 1900 5,009 sqft lot Est $122k · 6% over

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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 +17.0/30.0
• DSCR +5.3/10.0
• ARV discount +4.7/15.0
• 1% rule +4.1/10.0
• Rent growth +3.2/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.4/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Check out this cozy updated home near Downtown, Fountain Square, Garfield Park and the new Redline! This beauty has a lot of original character with so many updates. The water heater and windows were installed in 2018. The air conditioner was installed in 2019. The plumbing and electric have all been updated. The blinds and washer and dryer all stay with the home. This could be a great place to start a family or live the single life. The upkeep is minimal and you are so close to all the downtown amenities.

Key facts

• Stone fire pit
• Storage shed
• Hanging porch swing

Tags

• SCREENED-IN FRONT PORCH
• HANGING PORCH SWING
• FULL RENOVATION KITCHEN
• FULLY FENCED BACKYARD
• STONE FIRE PIT
• STORAGE SHED

Property features AI

Finance

• Other: Property under 1/4 acre (approximately 0.12 acre); Has finished living area on main level with additional building area

Exterior

• Parking: Alley access; Other parking
• Utilities: Public water; Municipal sewer connected; No solid waste service listed
• Home design: Single-family residence; One story
• Construction: Wood siding construction; Block foundation
• Exterior features: Screened porch; Fire pit; Storage shed; Full yard fencing

Interior

• Kitchen: Dishwasher; Disposal; Microwave; Electric oven; Refrigerator; Pantry
• Bedrooms: 2 bedrooms (both on the main level)
• Bathrooms: 1 full bathroom (main level)
• Heating & cooling: Forced air heating (natural gas); Central air conditioning
• Interior features: Pantry; Radon mitigation system
• Laundry & utility: Washer and dryer included; Laundry in basement; Water heater

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $129k.

Deal economics

• At list price, monthly cash flow is $87 ($1k/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 $118k (8.6% below list).
• Recommended offer: $118k (8.6% below list) — sets the bar for 1% rule.
• Cap rate 7.1% 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.
• Zoned schools: Frederick Douglass School 19 (math 9% / reading 13%, grade F, #909 of 994 statewide, top 92%, 444 students, 81% 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 (+2.9%/yr); 500 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 26d 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 $892 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

• Only 5 days on market — expect competitive offers; lowballing is unlikely to land.
• 6 sale attempts since 15y 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.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $117,939 (8.6% below list)

Questions for the listing agent

1. Built in 1900 — 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: 0.91% ✗
• Cap rate: 7.10%
• Cash-on-cash: 2.90%
• DSCR: 1.13
• GRM: 9.1

CMA / ARV

• ARV (on-the-fly): $121,568
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1517 E Kelly St	0.08mi	3/2.0 (+1)	912 (-2%)	4mo	$167,500	$184	81
1762 E Kelly St	0.26mi	2/1.0	984 (+6%)	2mo	$72,000	$73	76
1431 Finley Ave	0.28mi	2/1.0	858 (-8%)	3mo	$75,000	$87	72
1418 Finley Ave	0.27mi	2/1.0	844 (-9%)	2mo	$55,000	$65	71
2237 Villa Ave	0.43mi	3/1.0 (+1)	846 (-9%)	1mo	$175,000	$207	60
2455 Asbury St	0.36mi	3/1.0 (+1)	1,024 (+10%)	3mo	$160,000	$156	58
2541 Saint Peter St	0.71mi	3/1.0 (+1)	910 (-2%)	2mo	$115,000	$126	57
1606 Asbury St	0.67mi	3/1.0 (+1)	892 (-4%)	4mo	$145,000	$163	54
2343 Saint Peter St	0.62mi	3/1.0 (+1)	864 (-7%)	3mo	$113,000	$131	52
2105 Walker Ave	0.53mi	3/1.0 (+1)	1,040 (+12%)	3mo	$120,000	$115	47
2058 Mac Ct	0.73mi	3/1.0 (+1)	1,025 (+10%)	2mo	$105,000	$102	41
2835 S State Ave	0.72mi	3/1.5 (+1)	1,025 (+10%)	1mo	$159,900	$156	41

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 · 2.88% rent growth · sell at horizon

5-year hold

• IRR: -11.9%
• Equity multiple: 0.57×
• Total profit: $-15,498
• Equity at exit: $19,234

10-year hold

• IRR: -2.9%
• Equity multiple: 0.81×
• Total profit: $-6,966
• Equity at exit: $11,154

Cash invested: $36,120 (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 46203

• Home prices YoY: -26.7%
• Rents YoY: 2.9%
• Active inventory: 500
• Price-to-rent: 9.1×

Monthly cashflow live

• Estimated rent: $1,179 high
• Mortgage (P&I): −$676
• Tax from tax record: −$114 /mo · $1,370/yr
• Insurance: −$54
• HOA: −$0
• Vacancy / Maint / Mgmt: −$248
• Net cashflow: $87

Break-even live

Break-even rent $1,069

Max offer price $129,000

Occupancy floor 88%

Sensitivity live

Price	-10% $160	-5% $124	+0% $87	+5% $51	+10% $14
Rent	-10% $-6	-5% $41	+0% $87	+5% $134	+10% $180
Rate	-1.0pp $152	-0.5pp $120	base $87	+0.5pp $54	+1.0pp $20

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: $32,250
• Closing costs: $3,870
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1604 E Kelly St Indianapolis, IN	2.0	1.0	800	$1,025	$1.28	12d	1	0.06mi
1604 E Kelly St Indianapolis, IN	2.0	1.0	750	$1,025	$1.37	19d	1	0.06mi
1409 E Tabor St Indianapolis, IN	1.0	1.0	528	$775	$1.47	25d	1	0.13mi
1706 E Tabor St Unit 1708 Indianapolis, IN	3.0	1.0	1000	$1,300	$1.30	9d	1	0.16mi
1637 Hoefgen St Indianapolis, IN	2.0	1.0	780	$1,000	$1.28	45d	1	0.36mi
2469 Dawson St Indianapolis, IN	2.0	1.0	700	$949	$1.36	5d	4	0.41mi
1011 E Raymond St Indianapolis, IN	2.0	2.0	1100	$1,350	$1.23	25d	1	0.46mi
1117 E Naomi St Indianapolis, IN	2.0	1.5	976	$1,450	$1.49	0d	1	0.49mi
2036 Calhoun St Indianapolis, IN	2.0	1.0	880	$1,200	$1.36	9d	1	0.50mi
1815 Dawson St Unit 1815 Indianapolis, IN	2.0	1.0	1019	$999	$0.98	16d	1	0.50mi
2525 Shelby St Unit 1 Indianapolis, IN	1.0	1.0	600	$865	$1.44	5d	1	0.50mi
2525 Shelby St Unit 4 Indianapolis, IN	1.0	1.0	600	$775	$1.29	25d	1	0.51mi
2525 Shelby St Unit 4 Indianapolis, IN	1.0	1.0	600	$775	$1.29	0d	1	0.51mi
2103 Ringgold Ave Indianapolis, IN	1.0	1.0	1090	$775	$0.71	16d	1	0.52mi
2555 Shelby St Unit 2559 Indianapolis, IN	1.0	1.0	717	$1,250	$1.74	45d	1	0.57mi
1727 S Randolph St Indianapolis, IN	1.0	1.0	616	$950	$1.54	45d	1	0.60mi
1637 S State Ave Indianapolis, IN	2.0	1.5	816	$900	$1.10	19d	1	0.60mi
1549 Nelson Ave Indianapolis, IN	3.0	1.0	950	$1,380	$1.45	45d	1	0.60mi
1640 Asbury St Indianapolis, IN	1.0	1.0	700	$850	$1.21	45d	1	0.61mi
1620 E Palmer St Indianapolis, IN	2.0	1.0	824	$1,200	$1.46	25d	1	0.65mi
1543 S State Ave Indianapolis, IN	2.0	1.0	1086	$1,100	$1.01	9d	1	0.65mi
2633 S Randolph St Unit b Indianapolis, IN	2.0	1.0	900	$995	$1.11	25d	1	0.67mi
2633 S Randolph St Indianapolis, IN	2.0	1.0	900	$995	$1.11	12d	1	0.67mi
2714 Dawson St Indianapolis, IN	3.0	1.0	912	$1,500	$1.64	0d	1	0.69mi
2430 E Kelly St Indianapolis, IN	2.0	1.0	965	$949	$0.98	45d	1	0.69mi
1534 Dawson St Indianapolis, IN	3.0	1.0	1040	$1,499	$1.44	25d	1	0.71mi
944 E Minnesota St Indianapolis, IN	2.0	2.0	944	$1,299	$1.38	45d	1	0.77mi
1503 Dawson St Indianapolis, IN	2.0	1.0	700	$1,200	$1.71	45d	1	0.77mi
1144 McDougal St Indianapolis, IN	3.0	1.0	876	$1,500	$1.71	24d	1	0.78mi
823 Iowa St Indianapolis, IN	2.0	1.0	812	$1,100	$1.35	45d	1	0.79mi
823 Iowa St Indianapolis, IN	2.0	1.0	812	$1,100	$1.35	0d	1	0.79mi
1026 Laurel St Indianapolis, IN	1.0	1.0	655	$860	$1.31	45d	1	0.81mi
1861 Orleans St Indianapolis, IN	1.0	1.0	552	$2,500	$4.53	25d	1	0.82mi
620 E Beecher St Indianapolis, IN	3.0	2.0	1072	$1,639	$1.53	22d	1	0.84mi
1514 Ringgold Ave Indianapolis, IN	3.0	1.0	1064	$1,295	$1.22	45d	1	0.89mi
1318 Shelby St Unit B 120% AMI Indianapolis, IN	1.0	1.0	1116	$1,350	$1.21	25d	1	0.95mi
1026 Orange St Indianapolis, IN	2.0	2.0	1007	$1,600	$1.59	18d	1	0.96mi
1024 Orange St Indianapolis, IN	2.0	2.0	1007	$1,650	$1.64	45d	1	0.96mi
2209 Ransdell St Indianapolis, IN	2.0	1.0	710	$900	$1.27	45d	1	0.99mi
512 E Minnesota St Unit 203 Indianapolis, IN	2.0	1.0	903	$1,195	$1.32	25d	1	1.01mi

Listing history 14 events

1. 2026-05-21
   listed $129,000 Active
2. 2020-07-31
   soldstatus $94,000 Sold 511-char remark

   Show marketing remark (511 chars)

   Check out this cozy updated home near Downtown, Fountain Square, Garfield Park and the new Redline! This beauty has a lot of original character with so many updates. The water heater and windows were installed in 2018. The air conditioner was installed in 2019. The plumbing and electric have all been updated. The blinds and washer and dryer all stay with the home. This could be a great place to start a family or live the single life. The upkeep is minimal and you are so close to all the downtown amenities.

3. 2020-06-21
   status Pending 511-char remark

   Show marketing remark (511 chars)

   Check out this cozy updated home near Downtown, Fountain Square, Garfield Park and the new Redline! This beauty has a lot of original character with so many updates. The water heater and windows were installed in 2018. The air conditioner was installed in 2019. The plumbing and electric have all been updated. The blinds and washer and dryer all stay with the home. This could be a great place to start a family or live the single life. The upkeep is minimal and you are so close to all the downtown amenities.

4. 2020-06-12
   listed $94,000 Active 511-char remark

   Show marketing remark (511 chars)

   Check out this cozy updated home near Downtown, Fountain Square, Garfield Park and the new Redline! This beauty has a lot of original character with so many updates. The water heater and windows were installed in 2018. The air conditioner was installed in 2019. The plumbing and electric have all been updated. The blinds and washer and dryer all stay with the home. This could be a great place to start a family or live the single life. The upkeep is minimal and you are so close to all the downtown amenities.

5. 2018-07-23
   historical 710-char remark

   Show marketing remark (710 chars)

   Great opportunity for someone wanting to be close to downtown, Fountain Square or Garfield Park . This 2 bedroom, 1 bath bungalow has a newer roof, furnace, and washer & dryer. There are hardwood floors and vintage fixtures in the bathroom and kitchen. The lot is deep offering a new owner space to build a garage. The sellers are addressing the moisture in the basement/cellar and the cracked plaster in the bath as well as having the carpeting cleaned. The new owner will enjoy the large front porch also. With a little love and TLC this will be a swell place to call home; being offered in "as-is" condition. And it is very well priced for a starter home and has some good upside return.

6. 2018-07-23
   soldstatus $39,900 Sold 710-char remark

   Show marketing remark (710 chars)

   Great opportunity for someone wanting to be close to downtown, Fountain Square or Garfield Park . This 2 bedroom, 1 bath bungalow has a newer roof, furnace, and washer & dryer. There are hardwood floors and vintage fixtures in the bathroom and kitchen. The lot is deep offering a new owner space to build a garage. The sellers are addressing the moisture in the basement/cellar and the cracked plaster in the bath as well as having the carpeting cleaned. The new owner will enjoy the large front porch also. With a little love and TLC this will be a swell place to call home; being offered in "as-is" condition. And it is very well priced for a starter home and has some good upside return.

7. 2018-07-11
   status Pending 710-char remark

   Show marketing remark (710 chars)

   Great opportunity for someone wanting to be close to downtown, Fountain Square or Garfield Park . This 2 bedroom, 1 bath bungalow has a newer roof, furnace, and washer & dryer. There are hardwood floors and vintage fixtures in the bathroom and kitchen. The lot is deep offering a new owner space to build a garage. The sellers are addressing the moisture in the basement/cellar and the cracked plaster in the bath as well as having the carpeting cleaned. The new owner will enjoy the large front porch also. With a little love and TLC this will be a swell place to call home; being offered in "as-is" condition. And it is very well priced for a starter home and has some good upside return.

8. 2018-05-30
   listed $49,000 Active 710-char remark

   Show marketing remark (710 chars)

   Great opportunity for someone wanting to be close to downtown, Fountain Square or Garfield Park . This 2 bedroom, 1 bath bungalow has a newer roof, furnace, and washer & dryer. There are hardwood floors and vintage fixtures in the bathroom and kitchen. The lot is deep offering a new owner space to build a garage. The sellers are addressing the moisture in the basement/cellar and the cracked plaster in the bath as well as having the carpeting cleaned. The new owner will enjoy the large front porch also. With a little love and TLC this will be a swell place to call home; being offered in "as-is" condition. And it is very well priced for a starter home and has some good upside return.

9. 2015-01-03
   historical
10. 2014-07-02
    listed $49,900 Active
11. 2013-08-28
    historical
12. 2013-02-27
    listed $49,900
13. 2012-09-23
    historical
14. 2011-09-26
    listed $42,000

ⓘ 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: $1,370 · $114/mo
• Projected year-2 tax: $1,370 · $114/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 4/10 Moderate FEMA zone X (unshaded) · 22% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 4/10 Moderate 7 d/yr ≥101°F today · 19 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $14,153
• − Mortgage interest: −$7,226
• − Property taxes: −$1,370
• − Insurance: −$645
• − Repairs & maintenance: −$1,132
• − Management: −$1,132
• − Depreciation: −$3,753
• Taxable loss: −$1,106
• Est. tax savings @ 24.0%: +$265
• After-tax cash flow: $1,313/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): 37,758
• Household income: $57,393
• Rent vs Own: 42.2% rent · 57.8% own
• Severe rent burden: 1499.0

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: Predominantly White (69%)
• Race & ethnicity: White 69% Hispanic / Latino 14% Black 12% Two or more races 8% Asian 2% Native American 1%
• Hispanic origin (detail): Mexican 12% Puerto Rican 1%
• Common ancestry: Slovak 2% Lithuanian 2% Italian 1%
• Foreign-born: 8% · Canada
• Languages at home: 88% English-only · Spanish 10% Other Indo-European 1%

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: ▼ -127.37%
• Current HPI: 349.579
• Rent YoY: ▲ 2.88%
• 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

+209.5% since first listed

16 events — show timeline

• 2026-06-19 Sold (MLS) $130,000 MIBOR as Distributed by MLS Grid
• 2026-05-26 Pending — MIBOR as Distributed by MLS Grid
• 2026-05-21 Listed $129,000 MIBOR as Distributed by MLS Grid
• 2020-07-31 Sold (MLS) $94,000 MIBOR as Distributed by MLS Grid
• 2020-06-21 Pending — MIBOR as Distributed by MLS Grid
• 2020-06-12 Listed $94,000 MIBOR as Distributed by MLS Grid
• 2018-07-23 Listing Removed — MIBOR as Distributed by MLS Grid
• 2018-07-23 Sold (MLS) $39,900 MIBOR as Distributed by MLS Grid
• 2018-07-11 Pending — MIBOR as Distributed by MLS Grid
• 2018-05-30 Listed $49,000 MIBOR as Distributed by MLS Grid
• 2015-01-03 Listing Removed — MIBOR as Distributed by MLS Grid
• 2014-07-02 Listed $49,900 MIBOR as Distributed by MLS Grid
• 2013-08-28 Listing Removed — MIBOR as Distributed by MLS Grid
• 2013-02-27 Listed $49,900 MIBOR as Distributed by MLS Grid
• 2012-09-23 Listing Removed — MIBOR as Distributed by MLS Grid
• 2011-09-26 Listed $42,000 MIBOR as Distributed by MLS Grid

Property tax history

+6.3%/yr

Latest (2025): $1,370 · +8.8% YoY. Source: county tax records.