3641 N Richardt Ave · Indianapolis city (balance), IN 46226

$129,900

3 bd · 1.0 ba · 972 sqft · SingleFamily public records · 58 Days on market

Built 1961 8,320 sqft lot $134/sqft · 19% below area Est $160k · 19% under

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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 +19.0/30.0
• ARV discount +15.0/15.0
• DSCR +6.0/10.0
• 1% rule +5.7/10.0
• Rent growth +4.2/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.4/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Situated at 3641 N Richardt AVE in INDIANAPOLIS, IN, this single family residence presents an inviting home, ready for immediate occupancy. The kitchen, a central point for daily activities, features elegant shaker cabinets that provide both a refined aesthetic and practical storage solutions for all culinary essentials. Within this residence, three distinct bedrooms offer peaceful personal sanctuaries, each providing a space for rest and quiet contemplation. A single well-appointed full bathroom serves the home, thoughtfully designed for refreshing routines and convenient ease. A dedicated laundry room simplifies household management, offering a convenient area for practical tasks within the home. The property extends its appeal outdoors with an expansive 8320 square feet lot area, offering abundant space for various outdoor pursuits. A thoughtfully fenced backyard provides a secure and defined area for leisure and enjoyment of the open air. An inviting patio presents an ideal setting for outdoor relaxation, seamlessly expanding the usable living space. Further enhancing the outdoor utility, a convenient shed offers valuable storage, assisting in the organization of outdoor items. This single story residence, established in 1961, encompasses a comfortable 972 square feet of living area, providing a practical and easily navigable layout for daily routines. This inviting single family residence offers a foundation for a comfortable and practical lifestyle.

Key facts

• Convenient shed
• Inviting patio
• Shaker cabinets

Tags

• SHAKER CABINETS
• DEDICATED LAUNDRY ROOM
• FENCED BACKYARD
• INVITING PATIO
• CONVENIENT SHED

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $130k.

Deal economics

• At list price, monthly cash flow is $137 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $130k).
• Recommended offer: $126k (3.0% below list) — sets the bar for market timing.
• Cap rate 7.6% 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 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 fast (+6.8%/yr); 153 active listings in the ZIP; 17 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 33% of the median local income ($50k/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 $898 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.
• At projected returns (-3.0% appreciation + 6.8% rent growth), your $36k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 58 days — a 3% lower offer ($126k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 20y ago; this cycle's ask has dropped $10k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $54k; list at $130k implies a 143% gain — meaningful room to come down on a strong offer.

Recommended offer $126,003 (3.0% below list)

Questions for the listing agent

1. It's been on market 58 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 1961 — 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: 1.07% ✓
• Cap rate: 7.56%
• Cash-on-cash: 4.51%
• DSCR: 1.20
• GRM: 7.8

CMA / ARV

• ARV (median comp): $160,274
• List price: $129,900
• Delta: -18.95%
• 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
7510 E 34th St	0.30mi	3/1.0	1,008 (+4%)	4mo	$123,000	$122	76
7245 E 35th St	0.31mi	3/1.0	957 (-2%)	9mo	$122,000	$127	76
3732 Wellington Ave	0.29mi	3/1.0	999 (+3%)	11mo	$145,000	$145	73
3808 Elmhurst Dr	0.45mi	3/1.0	994 (+2%)	10mo	$104,000	$105	67
7838 Ridgewood Dr	0.59mi	3/1.5	936 (-4%)	4mo	$135,000	$144	61
3243 Wellington Ave	0.60mi	3/1.0	900 (-7%)	3mo	$145,000	$161	57
7602 E 34th Pl	0.26mi	3/1.0	1,104 (+14%)	11mo	$175,000	$159	56
7625 E 35th St	0.25mi	3/1.0	1,104 (+14%)	11mo	$184,900	$167	56
3813 N Hartman Dr	0.26mi	3/2.0	1,085 (+12%)	13mo	$185,000	$171	54
8138 E 34th Pl	0.69mi	2/1.0 (-1)	1,025 (+6%)	5mo	$145,000	$141	50
3733 Harvest Ave	0.75mi	3/1.0	1,055 (+8%)	7mo	$119,500	$113	45
8136 E 37th Pl	0.66mi	3/1.5	1,093 (+12%)	10mo	$197,000	$180	38

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 · 6.76% rent growth · sell at horizon

5-year hold

• IRR: -4.8%
• Equity multiple: 0.81×
• Total profit: $-6,840
• Equity at exit: $19,369

10-year hold

• IRR: 9.0%
• Equity multiple: 1.81×
• Total profit: $29,634
• Equity at exit: $11,231

Cash invested: $36,372 (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 46226

• Rents YoY: 6.8%
• Active inventory: 153
• Price-to-rent: 7.8×

Monthly cashflow live

• Estimated rent: $1,387 high
• Mortgage (P&I): −$681
• Tax from tax record: −$223 /mo · $2,682/yr
• Insurance: −$54
• HOA: −$0
• Vacancy / Maint / Mgmt: −$291
• Net cashflow: $137

Break-even live

Break-even rent $1,214

Max offer price $129,900

Occupancy floor 85%

Sensitivity live

Price	-10% $210	-5% $173	+0% $137	+5% $100	+10% $63
Rent	-10% $27	-5% $82	+0% $137	+5% $191	+10% $246
Rate	-1.0pp $202	-0.5pp $170	base $137	+0.5pp $103	+1.0pp $69

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: $32,475
• Closing costs: $3,897
• Reserves months: —
• Total cash needed: —

Rent comps 17 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3775 Allerton Pl Indianapolis, IN	1.0–4.0	2.0	1068	$1,617	$1.51	14d	1	0.37mi
7171 Twin Oaks Dr Indianapolis, IN	3.0	1.0–1.5	801	$1,399	$1.75	24d	9	0.39mi
7975 Red Mill Dr Indianapolis, IN	2.0	1.0	576	$975	$1.69	44d	1	0.46mi
7925 Crossbridge Dr Indianapolis, IN	2.0	2.0	1072	$1,200	$1.12	44d	1	0.55mi
7838 Ridgewood Dr Indianapolis, IN	3.0	2.0	936	$1,540	$1.65	44d	1	0.57mi
7838 Ridgewood Dr Indianapolis, IN	3.0	2.0	936	$1,540	$1.65	24d	1	0.57mi
3226 Wellington Ave Indianapolis, IN	3.0	1.0	900	$1,149	$1.28	11d	1	0.60mi
3900 N Shadeland Ave Indianapolis, IN	1.0–2.0	1.0	1070	$1,075	$1.00	4d	6	0.73mi
4307 N Edmondson Ave Indianapolis, IN	3.0	1.0	900	$1,299	$1.44	3d	1	1.16mi
3809 Biscayne Rd Indianapolis, IN	2.0	1.5	992	$1,020	$1.03	15d	1	1.22mi
4315 Aspen Way Indianapolis, IN	3.0	1.0	1080	$1,380	$1.28	44d	1	1.24mi
3631 Decamp Dr Indianapolis, IN	3.0	1.0	1000	$1,335	$1.33	24d	1	1.26mi
3938 Biscayne Rd Indianapolis, IN	3.0	1.0	1000	$1,895	$1.90	4d	1	1.26mi
8724 Montery Rd Indianapolis, IN	3.0	1.0	925	$1,500	$1.62	44d	1	1.27mi
7845 Bonita Ct Indianapolis, IN	3.0	1.0	1073	$1,400	$1.30	8d	1	1.31mi
8862 Bel Air Ct Indianapolis, IN	3.0	1.0	1073	$1,264	$1.18	18d	1	1.34mi
7910 Roy Rd Indianapolis, IN	3.0	1.0	1073	$1,445	$1.35	24d	1	1.35mi

Listing history 17 events

1. 2026-05-14
   status Pending 1482-char remark

   Show marketing remark (1482 chars)

   Situated at 3641 N Richardt AVE in INDIANAPOLIS, IN, this single family residence presents an inviting home, ready for immediate occupancy. The kitchen, a central point for daily activities, features elegant shaker cabinets that provide both a refined aesthetic and practical storage solutions for all culinary essentials. Within this residence, three distinct bedrooms offer peaceful personal sanctuaries, each providing a space for rest and quiet contemplation. A single well-appointed full bathroom serves the home, thoughtfully designed for refreshing routines and convenient ease. A dedicated laundry room simplifies household management, offering a convenient area for practical tasks within the home. The property extends its appeal outdoors with an expansive 8320 square feet lot area, offering abundant space for various outdoor pursuits. A thoughtfully fenced backyard provides a secure and defined area for leisure and enjoyment of the open air. An inviting patio presents an ideal setting for outdoor relaxation, seamlessly expanding the usable living space. Further enhancing the outdoor utility, a convenient shed offers valuable storage, assisting in the organization of outdoor items. This single story residence, established in 1961, encompasses a comfortable 972 square feet of living area, providing a practical and easily navigable layout for daily routines. This inviting single family residence offers a foundation for a comfortable and practical lifestyle.

2. 2026-05-04
   price $129,900 1482-char remark

   Show marketing remark (1482 chars)

   Situated at 3641 N Richardt AVE in INDIANAPOLIS, IN, this single family residence presents an inviting home, ready for immediate occupancy. The kitchen, a central point for daily activities, features elegant shaker cabinets that provide both a refined aesthetic and practical storage solutions for all culinary essentials. Within this residence, three distinct bedrooms offer peaceful personal sanctuaries, each providing a space for rest and quiet contemplation. A single well-appointed full bathroom serves the home, thoughtfully designed for refreshing routines and convenient ease. A dedicated laundry room simplifies household management, offering a convenient area for practical tasks within the home. The property extends its appeal outdoors with an expansive 8320 square feet lot area, offering abundant space for various outdoor pursuits. A thoughtfully fenced backyard provides a secure and defined area for leisure and enjoyment of the open air. An inviting patio presents an ideal setting for outdoor relaxation, seamlessly expanding the usable living space. Further enhancing the outdoor utility, a convenient shed offers valuable storage, assisting in the organization of outdoor items. This single story residence, established in 1961, encompasses a comfortable 972 square feet of living area, providing a practical and easily navigable layout for daily routines. This inviting single family residence offers a foundation for a comfortable and practical lifestyle.

3. 2026-04-16
   price $134,900 1482-char remark

   Show marketing remark (1482 chars)

   Situated at 3641 N Richardt AVE in INDIANAPOLIS, IN, this single family residence presents an inviting home, ready for immediate occupancy. The kitchen, a central point for daily activities, features elegant shaker cabinets that provide both a refined aesthetic and practical storage solutions for all culinary essentials. Within this residence, three distinct bedrooms offer peaceful personal sanctuaries, each providing a space for rest and quiet contemplation. A single well-appointed full bathroom serves the home, thoughtfully designed for refreshing routines and convenient ease. A dedicated laundry room simplifies household management, offering a convenient area for practical tasks within the home. The property extends its appeal outdoors with an expansive 8320 square feet lot area, offering abundant space for various outdoor pursuits. A thoughtfully fenced backyard provides a secure and defined area for leisure and enjoyment of the open air. An inviting patio presents an ideal setting for outdoor relaxation, seamlessly expanding the usable living space. Further enhancing the outdoor utility, a convenient shed offers valuable storage, assisting in the organization of outdoor items. This single story residence, established in 1961, encompasses a comfortable 972 square feet of living area, providing a practical and easily navigable layout for daily routines. This inviting single family residence offers a foundation for a comfortable and practical lifestyle.

4. 2026-03-17
   listed $139,900 Active 1482-char remark

   Show marketing remark (1482 chars)

   Situated at 3641 N Richardt AVE in INDIANAPOLIS, IN, this single family residence presents an inviting home, ready for immediate occupancy. The kitchen, a central point for daily activities, features elegant shaker cabinets that provide both a refined aesthetic and practical storage solutions for all culinary essentials. Within this residence, three distinct bedrooms offer peaceful personal sanctuaries, each providing a space for rest and quiet contemplation. A single well-appointed full bathroom serves the home, thoughtfully designed for refreshing routines and convenient ease. A dedicated laundry room simplifies household management, offering a convenient area for practical tasks within the home. The property extends its appeal outdoors with an expansive 8320 square feet lot area, offering abundant space for various outdoor pursuits. A thoughtfully fenced backyard provides a secure and defined area for leisure and enjoyment of the open air. An inviting patio presents an ideal setting for outdoor relaxation, seamlessly expanding the usable living space. Further enhancing the outdoor utility, a convenient shed offers valuable storage, assisting in the organization of outdoor items. This single story residence, established in 1961, encompasses a comfortable 972 square feet of living area, providing a practical and easily navigable layout for daily routines. This inviting single family residence offers a foundation for a comfortable and practical lifestyle.

5. 2017-10-12
   soldstatus $53,500 Sold 203-char remark

   Show marketing remark (203 chars)

   Desirable 3 bedroom Ranch w/ many recent updates. Freshly painted! New laminated hardwood floors. Newer furnace and water heater. New blinds. New insulation. Fully fenced backyard. 1 car attached garage.

6. 2017-09-01
   status Pending 203-char remark

   Show marketing remark (203 chars)

   Desirable 3 bedroom Ranch w/ many recent updates. Freshly painted! New laminated hardwood floors. Newer furnace and water heater. New blinds. New insulation. Fully fenced backyard. 1 car attached garage.

7. 2017-08-02
   price $56,000 203-char remark

   Show marketing remark (203 chars)

   Desirable 3 bedroom Ranch w/ many recent updates. Freshly painted! New laminated hardwood floors. Newer furnace and water heater. New blinds. New insulation. Fully fenced backyard. 1 car attached garage.

8. 2017-08-02
   status Active 203-char remark

   Show marketing remark (203 chars)

   Desirable 3 bedroom Ranch w/ many recent updates. Freshly painted! New laminated hardwood floors. Newer furnace and water heater. New blinds. New insulation. Fully fenced backyard. 1 car attached garage.

9. 2017-07-31
   historical 203-char remark

   Show marketing remark (203 chars)

   Desirable 3 bedroom Ranch w/ many recent updates. Freshly painted! New laminated hardwood floors. Newer furnace and water heater. New blinds. New insulation. Fully fenced backyard. 1 car attached garage.

10. 2017-04-17
    price $60,000 203-char remark

    Show marketing remark (203 chars)

    Desirable 3 bedroom Ranch w/ many recent updates. Freshly painted! New laminated hardwood floors. Newer furnace and water heater. New blinds. New insulation. Fully fenced backyard. 1 car attached garage.

11. 2017-03-17
    listed $65,000 Active 203-char remark

    Show marketing remark (203 chars)

    Desirable 3 bedroom Ranch w/ many recent updates. Freshly painted! New laminated hardwood floors. Newer furnace and water heater. New blinds. New insulation. Fully fenced backyard. 1 car attached garage.

12. 2017-02-14
    historical
13. 2016-12-14
    price $65,000
14. 2016-09-14
    price $68,500
15. 2016-08-16
    listed $69,900 Active
16. 2006-08-31
    soldstatus $64,900
17. 2006-05-24
    listed $64,900

ⓘ 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: $2,682 · $223/mo
• Projected year-2 tax: $2,682 · $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: $16,641
• − Mortgage interest: −$7,276
• − Property taxes: −$2,682
• − Insurance: −$650
• − Repairs & maintenance: −$1,331
• − Management: −$1,331
• − Depreciation: −$3,779
• Taxable loss: −$408
• Est. tax savings @ 24.0%: +$98
• After-tax cash flow: $1,738/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): 47,099
• Household income: $50,325
• Rent vs Own: 53.8% rent · 46.2% own
• Severe rent burden: 2742.0

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 53% White 25% Hispanic / Latino 17% Two or more races 9% Asian 2%
• Hispanic origin (detail): Mexican 11%
• Common ancestry: Lithuanian 1% Italian 1% Romanian 1%
• Foreign-born: 11% · Canada
• Languages at home: 86% English-only · Spanish 10% French/Haitian/Cajun 1% Other Asian/Pacific 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: ▼ -218.85%
• Current HPI: 239.43
• Rent YoY: ▲ 6.76%
• 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

+100.2% since first listed

17 events — show timeline

• 2026-05-14 Pending — MIBOR as Distributed by MLS Grid
• 2026-05-04 Price Changed $129,900 MIBOR as Distributed by MLS Grid
• 2026-04-16 Price Changed $134,900 MIBOR as Distributed by MLS Grid
• 2026-03-17 Listed $139,900 MIBOR as Distributed by MLS Grid
• 2017-10-12 Sold (MLS) $53,500 MIBOR as Distributed by MLS Grid
• 2017-09-01 Pending — MIBOR as Distributed by MLS Grid
• 2017-08-02 Price Changed $56,000 MIBOR as Distributed by MLS Grid
• 2017-08-02 Relisted — MIBOR as Distributed by MLS Grid
• 2017-07-31 Listing Removed — MIBOR as Distributed by MLS Grid
• 2017-04-17 Price Changed $60,000 MIBOR as Distributed by MLS Grid
• 2017-03-17 Listed $65,000 MIBOR as Distributed by MLS Grid
• 2017-02-14 Listing Removed — MIBOR as Distributed by MLS Grid
• 2016-12-14 Price Changed $65,000 MIBOR as Distributed by MLS Grid
• 2016-09-14 Price Changed $68,500 MIBOR as Distributed by MLS Grid
• 2016-08-16 Listed $69,900 MIBOR as Distributed by MLS Grid
• 2006-08-31 Sold (MLS) $64,900 MIBOR as Distributed by MLS Grid
• 2006-05-24 Listed $64,900 MIBOR as Distributed by MLS Grid

Property tax history

+14.3%/yr

Latest (2025): $2,682 · +16.8% YoY. Source: county tax records.