302 S Holmes Ave · Indianapolis city (balance), IN 46222

$94,750

4 bd · 2.0 ba · 1,403 sqft · SingleFamily public records · 96 Days on market

Built 1907 4,792 sqft lot $68/sqft · at area comps Est $152k · 38% under

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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

This classic up-and-down home immediately stands out with its timeless charm and welcoming presence. The layout offers flexibility and function across two levels, making it easy to envision comfortable everyday living or creative use of the space. Properties with this kind of versatility don't come along often, and this one is best appreciated in person. Built in 1907, this two-level home offers 1,704 square feet per county records and features a wood exterior that reflects its historic character. The main level includes one bedroom, a full bathroom, and a kitchen, while the upper level also offers a bedroom, full bathroom, and its own kitchen-providing excellent flexibility for multi-level living. A detached two-car garage adds convenience and additional storage, rounding out this distinctive property.

Key facts

• Multi-level living
• Wood exterior
• 4,792 sq ft lot

Tags

• WOOD EXTERIOR
• DETACHED TWO-CAR GARAGE
• MULTI-LEVEL LIVING

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $95k.

Deal economics

• At list price, monthly cash flow is $578 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $95k).
• Recommended offer: $86k (9.0% below list) — sets the bar for market timing.
• Cap rate 13.6% 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.
• Market conditions: Rents rising (+2.5%/yr); 173 active listings in the ZIP; 16 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 40% of the median local income ($51k/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 $656 of loan paydown is wiped out by about $3k 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 + 2.5% rent growth), your $27k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 96 days — a 9% lower offer ($86k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $64k; 47% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: property tax is 2.9% of price; built in 1907 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $86,222 (9.0% below list)

Questions for the listing agent

1. It's been on market 96 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1907 — 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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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.
7. 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.
8. 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: 1.80% ✓
• Cap rate: 13.62%
• Cash-on-cash: 26.15%
• DSCR: 2.16
• GRM: 4.6

CMA / ARV

• ARV (median comp): $151,909
• List price: $94,750
• Delta: -37.63%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 10 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
530 S Addison St	0.19mi	3/2.5 (-1)	1,491 (+6%)	15mo	$185,000	$124	61
2609 Jackson St	0.13mi	3/1.0 (-1)	1,602 (+14%)	2mo	$85,000	$53	60
26 N Holmes Ave	0.30mi	3/2.0 (-1)	1,580 (+13%)	0mo	$165,000	$104	60
526 S Holmes Ave	0.17mi	3/2.0 (-1)	1,607 (+14%)	18mo	$195,000	$121	48
246 N Belleview Pl	0.53mi	4/2.5	1,568 (+12%)	8mo	$195,000	$124	47
1005 S Holmes Ave	0.55mi	3/2.0 (-1)	1,504 (+7%)	16mo	$195,000	$130	44
144 N Sheffield Ave	0.61mi	3/2.0 (-1)	1,328 (-5%)	20mo	$206,500	$155	41
309 N Belleview Pl	0.63mi	3/1.5 (-1)	1,560 (+11%)	19mo	$175,000	$112	30
109 S Traub Ave	0.58mi	3/2.5 (-1)	1,210 (-14%)	22mo	$140,000	$116	24
102 N Elder Ave	0.73mi	3/2.5 (-1)	1,592 (+14%)	18mo	$220,000	$138	21

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 · 2.46% rent growth · sell at horizon

5-year hold

• IRR: 19.3%
• Equity multiple: 1.78×
• Total profit: $20,643
• Equity at exit: $14,128

10-year hold

• IRR: 27.2%
• Equity multiple: 3.34×
• Total profit: $62,040
• Equity at exit: $8,192

Cash invested: $26,530 (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 46222

• Home prices YoY: -16.7%
• Rents YoY: 2.5%
• Active inventory: 173
• Price-to-rent: 4.6×

Monthly cashflow live

• Estimated rent: $1,703 high
• Mortgage (P&I): −$497
• Tax from tax record: −$231 /mo · $2,766/yr
• Insurance: −$39
• HOA: −$0
• Vacancy / Maint / Mgmt: −$358
• Net cashflow: $578

Break-even live

Break-even rent $971

Max offer price $94,750

Occupancy floor 61%

Sensitivity live

Price	-10% $632	-5% $605	+0% $578	+5% $551	+10% $525
Rent	-10% $444	-5% $511	+0% $578	+5% $645	+10% $713
Rate	-1.0pp $626	-0.5pp $602	base $578	+0.5pp $554	+1.0pp $529

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: $23,688
• Closing costs: $2,842
• Reserves months: —
• Total cash needed: —

Rent comps 16 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
156 Haugh St Indianapolis, IN	3.0	2.5	1800	$2,000	$1.11	44d	1	0.41mi
240 N Warman Ave Indianapolis, IN	2.0–3.0	1.0–2.0	1052	$1,400	$1.33	21d	5	0.50mi
326 N Warman Ave Indianapolis, IN	3.0	2.5	1804	$2,150	$1.19	2d	1	0.62mi
2015 W Wilkins St Indianapolis, IN	3.0	1.0	1250	$1,895	$1.52	44d	1	0.84mi
210 N Richland St Indianapolis, IN	4.0	2.0	1062	$1,625	$1.53	15d	1	0.97mi
545 N Goodlet Ave Indianapolis, IN	3.0	1.0	1664	$1,250	$0.75	24d	1	1.00mi
525 N Belmont Ave Indianapolis, IN	3.0	1.0	912	$1,225	$1.34	24d	1	1.05mi
1801 W Morris St Indianapolis, IN	3.0	1.5	1056	$1,795	$1.70	44d	1	1.06mi
1124 S Reisner St Indianapolis, IN	3.0	2.0	1548	$1,700	$1.10	44d	1	1.07mi
742 N Sheffield Ave Unit 1228636P Indianapolis, IN	4.0	2.0	1851	$3,472	$1.88	3d	1	1.17mi
3531 Garden Ave Indianapolis, IN	3.0	1.0	1264	$1,200	$0.95	44d	1	1.35mi
3531 Garden Ave Indianapolis, IN	3.0	1.0	1264	$1,200	$0.95	24d	1	1.35mi
955 N Traub Ave Indianapolis, IN	3.0	2.0	1300	$1,449	$1.11	44d	1	1.38mi
1023 N Pershing Ave Indianapolis, IN	3.0	1.5	1182	$1,350	$1.14	24d	1	1.38mi
925 N Somerset Ave Indianapolis, IN	3.0	1.0	1061	$1,300	$1.23	8d	1	1.43mi
1118 King Ave Indianapolis, IN	3.0	1.0	1560	$1,299	$0.83	17d	1	1.46mi

Listing history 3 events

1. 2026-03-31
   price $94,750 817-char remark

   Show marketing remark (817 chars)

   This classic up-and-down home immediately stands out with its timeless charm and welcoming presence. The layout offers flexibility and function across two levels, making it easy to envision comfortable everyday living or creative use of the space. Properties with this kind of versatility don't come along often, and this one is best appreciated in person. Built in 1907, this two-level home offers 1,704 square feet per county records and features a wood exterior that reflects its historic character. The main level includes one bedroom, a full bathroom, and a kitchen, while the upper level also offers a bedroom, full bathroom, and its own kitchen-providing excellent flexibility for multi-level living. A detached two-car garage adds convenience and additional storage, rounding out this distinctive property.

2. 2026-02-19
   listed $114,750 Active 817-char remark

   Show marketing remark (817 chars)

   This classic up-and-down home immediately stands out with its timeless charm and welcoming presence. The layout offers flexibility and function across two levels, making it easy to envision comfortable everyday living or creative use of the space. Properties with this kind of versatility don't come along often, and this one is best appreciated in person. Built in 1907, this two-level home offers 1,704 square feet per county records and features a wood exterior that reflects its historic character. The main level includes one bedroom, a full bathroom, and a kitchen, while the upper level also offers a bedroom, full bathroom, and its own kitchen-providing excellent flexibility for multi-level living. A detached two-car garage adds convenience and additional storage, rounding out this distinctive property.

3. 2000-09-18
   soldstatus $64,345

ⓘ 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: $2,766 · $231/mo
• Projected year-2 tax: $2,766 · $231/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 ≥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: $20,431
• − Mortgage interest: −$5,307
• − Property taxes: −$2,766
• − Insurance: −$474
• − Repairs & maintenance: −$1,634
• − Management: −$1,634
• − Depreciation: −$2,756
• Taxable income: $5,858
• Est. tax owed @ 24.0%: −$1,406
• After-tax cash flow: $5,532/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): 38,887
• Household income: $50,783
• Rent vs Own: 51.7% rent · 48.3% own
• Severe rent burden: 1750.0

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: Highly diverse neighborhood (Simpson 0.72)
• Race & ethnicity: White 32% Black 30% Hispanic / Latino 30% Two or more races 12% Asian 2%
• Hispanic origin (detail): Mexican 24% Puerto Rican 1%
• Common ancestry: Lithuanian 1% Iranian 1% Slovak 1%
• Foreign-born: 21% · Canada, Jamaica
• Languages at home: 67% English-only · Spanish 25% Other Indo-European 3% Arabic 2%

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: ▼ -75.47%
• Current HPI: 375.8479
• Rent YoY: ▲ 2.46%
• 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

+47.3% since first listed

3 events — show timeline

• 2026-03-31 Price Changed $94,750 MIBOR as Distributed by MLS Grid
• 2026-02-19 Listed $114,750 MIBOR as Distributed by MLS Grid
• 2000-09-18 Sold (Public Records) $64,345 Public Records

Property tax history

+19.8%/yr

Latest (2025): $2,766 · +152.6% YoY. Source: county tax records.