3601 Brookside Parkway South Dr · Indianapolis city (balance), IN 46201

$129,900

3 bd · 1.0 ba · 1,025 sqft · SingleFamily public records · 119 Days on market

Built 1965 2,875 sqft lot Est $110k · 18% 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 +15.1/30.0
• 1% rule +4.9/10.0
• DSCR +4.6/10.0
• Rent growth +4.3/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.4/10.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks

Are you looking for a home that has updated yet classic charm? Then this is the one for you! Located just steps away from Brookside Park, this home has both spacious living areas as well as bedrooms! The entire interior of the home from top to bottom has been cleaned up and improved just in time for you to move right in. New floors and paint through truly brighten this home up with a clean finish to compliment the original built-ins. Both the kitchen and bathroom provide clean and updated functionality to compliment the rest of the home. This property even offers the terrific opportunity of a full basement which provides a great opportunity to add living space, creative storage, or anything

Key facts

• Original built-ins
• Full basement
• 2,875 sq ft lot

Tags

• FULL BASEMENT
• ORIGINAL BUILT-INS

Property features AI

Exterior

• Utilities: Public water; Municipal sewer connected; Electric service with circuit breakers; Solid waste service available
• Home design: Single-family residence; One level; Residential property
• Construction: Brick and wood exterior; Block foundation
• Exterior features: Partial fencing; Yard enclosed by fence

Interior

• Kitchen: Electric oven; Refrigerator; Range hood
• Bedrooms: 2 bedrooms on the main level (rooms measure 12x14 and 12x12)
• Bathrooms: 1 full bathroom on the main level
• Heating & cooling: Forced air heating; No central air
• Interior features: Updated/remodeled interior; Unfinished basement with interior entry; Smoke detectors
• Laundry & utility: Washer and dryer; Water heater

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 $43 ($514/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 $128k (1.4% below list).
• Recommended offer: $118k (9.0% below list) — sets the bar for market timing.
• Cap rate 6.7% 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 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).
• This rent runs 31% of the median local income ($49k/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.

Negotiation context

• It's been on market 119 days — a 9% lower offer ($118k) is reasonable based on typical stale-listing flexibility.
• 12 sale attempts since 21y ago; this cycle's ask is 12955% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $10k; list at $130k implies a 1199% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $118,209 (9.0% below list)

Questions for the listing agent

1. It's been on market 119 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 1965 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
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: 0.99% ✗
• Cap rate: 6.69%
• Cash-on-cash: 1.41%
• DSCR: 1.06
• GRM: 8.5

CMA / ARV

• ARV (on-the-fly): $109,675
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1235 N Grant Ave	0.46mi	2/1.0 (-1)	1,056 (+3%)	8mo	$80,000	$76	62
2818 E 17th St	0.59mi	2/2.0 (-1)	1,024 (-0%)	3mo	$205,000	$200	61
2037 Adams St	0.50mi	3/1.0	1,106 (+8%)	3mo	$118,000	$107	61
4218 E 18th St	0.49mi	3/1.0	1,080 (+5%)	10mo	$170,000	$157	60
1733 N Gladstone Ave	0.45mi	3/1.0	1,080 (+5%)	16mo	$110,000	$102	56
4109 East 21st St	0.65mi	3/1.0	1,080 (+5%)	11mo	$85,000	$79	52
2022 N Olney St	0.46mi	2/1.0 (-1)	1,092 (+6%)	13mo	$81,000	$74	52
2049 Houston St	0.55mi	3/1.0	912 (-11%)	7mo	$117,000	$128	50
2018 N Dearborn St	0.58mi	3/1.0	1,168 (+14%)	2mo	$145,000	$124	48
2030 Houston St	0.52mi	3/2.0	912 (-11%)	7mo	$130,000	$143	48
3109 E St Joseph St	0.68mi	3/2.0	1,078 (+5%)	10mo	$108,000	$100	48
2934 E Brookside Ave	0.63mi	3/1.0	912 (-11%)	7mo	$50,000	$55	47

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: -8.9%
• Equity multiple: 0.66×
• Total profit: $-12,467
• Equity at exit: $19,369

10-year hold

• IRR: 5.8%
• Equity multiple: 1.52×
• Total profit: $18,894
• 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 46201

• Home prices YoY: -33.9%
• Rents YoY: 7.3%
• Active inventory: 480
• Price-to-rent: 8.5×

Monthly cashflow live

• Estimated rent: $1,280 high
• Mortgage (P&I): −$681
• Tax from tax record: −$233 /mo · $2,798/yr
• Insurance: −$54
• HOA: −$0
• Vacancy / Maint / Mgmt: −$269
• Net cashflow: $43

Break-even live

Break-even rent $1,226

Max offer price $129,900

Occupancy floor 92%

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 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3601 Brookside Parkway South Dr Indianapolis, IN	2.0	1.0	1025	$995	$0.97	44d	1	0.03mi
3601 Brookside Parkway South Dr Indianapolis, IN	2.0	1.0	1025	$995	$0.97	24d	1	0.03mi
3617 Brookside Parkway South Dr Indianapolis, IN	2.0	1.0	800	$999	$1.25	24d	1	0.05mi
1531 N Kealing Ave Indianapolis, IN	3.0	2.0	1250	$1,500	$1.20	24d	1	0.10mi
1531 N Kealing Ave Unit A Indianapolis, IN	3.0	2.0	1250	$1,397	$1.12	24d	1	0.10mi
1521 N Kealing Ave Indianapolis, IN	3.0	1.0	1250	$1,250	$1.00	18d	1	0.11mi
1421 N Olney St Indianapolis, IN	2.0	1.0	1064	$975	$0.92	10d	1	0.15mi
1505 N Tuxedo St Unit 1507 Indianapolis, IN	2.0	1.0	1000	$1,100	$1.10	44d	1	0.19mi
1341 N Gale St Indianapolis, IN	4.0	2.0	899	$2,000	$2.22	24d	1	0.23mi
1513 N Denny St Indianapolis, IN	3.0	1.0	874	$1,399	$1.60	24d	1	0.26mi
1323 N Olney St Indianapolis, IN	2.0	1.0	1288	$945	$0.73	44d	1	0.27mi
1424 N Denny St Indianapolis, IN	3.0	1.0	1206	$1,295	$1.07	44d	1	0.29mi
1301 N Olney St Unit 1303 Indianapolis, IN	2.0	1.0	750	$1,100	$1.47	44d	1	0.31mi
1509 N Chester Ave Indianapolis, IN	2.0	1.0	950	$1,100	$1.16	22d	1	0.32mi
1417 N Denny St Indianapolis, IN	2.0	1.0	1000	$1,125	$1.12	24d	1	0.32mi
1506 N Grant Ave Indianapolis, IN	2.0	1.0	780	$1,150	$1.47	15d	1	0.36mi
1106 N Gale St Unit 1 Indianapolis, IN	2.0	1.0	750	$895	$1.19	44d	1	0.43mi
1938 N Dearborn St Indianapolis, IN	3.0	1.0	1162	$1,400	$1.20	24d	1	0.48mi
1015 N Gale St Indianapolis, IN	3.0	2.0	1200	$1,550	$1.29	15d	1	0.49mi
1119 N Dearborn St Indianapolis, IN	3.0	1.5	1200	$1,249	$1.04	44d	1	0.51mi
1216 N Oakland Ave Indianapolis, IN	3.0	2.0	1464	$1,550	$1.06	14d	1	0.53mi
1018 N Tuxedo St Unit 1016 Indianapolis, IN	3.0	1.5	1250	$1,099	$0.88	44d	1	0.53mi
1214 N Oakland Ave Indianapolis, IN	3.0	2.0	1464	$1,350	$0.92	14d	1	0.53mi
1421 N Colorado Ave Indianapolis, IN	2.0	1.0	983	$1,225	$1.25	24d	1	0.54mi
2827 E 18th St Indianapolis, IN	2.0	1.0	726	$1,300	$1.79	24d	1	0.57mi
2045 N Dearborn St Indianapolis, IN	3.0	2.0	912	$1,145	$1.26	24d	1	0.58mi
2841 E 19th St Indianapolis, IN	2.0	1.0	812	$850	$1.05	4d	1	0.58mi
953 N Tuxedo St Indianapolis, IN	3.0	1.0	1200	$950	$0.79	24d	1	0.60mi
1623 N Rural St Indianapolis, IN	2.0	1.0	1452	$875	$0.60	44d	1	0.60mi
2822 E 19th St Indianapolis, IN	3.0	2.0	1130	$1,300	$1.15	44d	1	0.62mi
2815 Brookside Ave Indianapolis, IN	3.0	2.0	1120	$1,350	$1.21	10d	1	0.63mi
1550 N Rural St Indianapolis, IN	3.0	1.0	1388	$1,600	$1.15	44d	1	0.63mi
2030 N Colorado Ave Indianapolis, IN	2.0	1.0	728	$1,150	$1.58	24d	1	0.64mi
1038 N Parker Ave Indianapolis, IN	4.0	2.0	1342	$1,745	$1.30	4d	1	0.66mi
1036 N Parker Ave Indianapolis, IN	4.0	2.0	1342	$1,745	$1.30	4d	1	0.66mi
1113 N Oxford St Indianapolis, IN	3.0	2.0	1100	$1,495	$1.36	7d	1	0.67mi
3030 E 10th St Indianapolis, IN	2.0	1.0	950	$900	$0.95	22d	1	0.68mi
933 N Dearborn St Indianapolis, IN	3.0	1.5	1204	$1,500	$1.25	44d	1	0.69mi
3101 E 10th St #301 Indianapolis, IN	2.0	1.0	921	$1,195	$1.30	44d	1	0.69mi
2221 Station St Indianapolis, IN	3.0	2.5	1312	$1,600	$1.22	24d	1	0.72mi

Listing history 36 events

1. 2026-05-26
   historical $995
2. 2026-05-26
   status Pending
3. 2026-05-26
   status Active
4. 2026-04-13
   status Active
5. 2026-04-01
   price $129,900
6. 2026-03-13
   listed $995
7. 2026-03-07
   historical $995
8. 2026-03-05
   price $134,900
9. 2026-02-12
   price $139,900
10. 2026-01-21
    price $145,000
11. 2026-01-17
    price $995
12. 2026-01-02
    status Active
13. 2026-01-02
    price $149,900
14. 2025-12-18
    price $1,095
15. 2025-12-09
    historical
16. 2025-12-04
    price $119,900
17. 2025-12-03
    listed $1,150
18. 2025-11-22
    historical
19. 2025-11-21
    status Active
20. 2025-11-20
    listed $149,900 Active
21. 2025-11-19
    historical
22. 2025-11-06
    price $154,900
23. 2025-10-23
    price $159,900
24. 2025-10-15
    price $164,900
25. 2025-10-10
    price $167,500
26. 2025-10-02
    price $168,900
27. 2025-09-26
    price $169,900
28. 2025-09-21
    listed $174,900 Active
29. 2007-10-30
    listed $15,000
30. 2007-10-30
    soldstatus $10,000
31. 2007-02-19
    historical
32. 2006-08-19
    listed $30,000
33. 2006-06-23
    historical
34. 2006-05-19
    soldstatus $13,900
35. 2006-02-24
    listed $14,900
36. 2005-09-30
    listed $19,900

ⓘ 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: $2,798 · $233/mo
• Projected year-2 tax: $2,798 · $233/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 6/10 Major FEMA zone X (unshaded) · 70% 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: $15,362
• − Mortgage interest: −$7,276
• − Property taxes: −$2,798
• − Insurance: −$650
• − Repairs & maintenance: −$1,229
• − Management: −$1,229
• − Depreciation: −$3,779
• Taxable loss: −$1,599
• Est. tax savings @ 24.0%: +$384
• After-tax cash flow: $898/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

+552.8% since first listed

36 events — show timeline

• 2026-05-26 Rental Removed $995 MIBOR
• 2026-05-26 Pending — MIBOR as Distributed by MLS Grid
• 2026-05-26 Relisted — MIBOR as Distributed by MLS Grid
• 2026-04-13 Relisted — MIBOR as Distributed by MLS Grid
• 2026-04-01 Price Changed $129,900 MIBOR as Distributed by MLS Grid
• 2026-03-13 Listed for Rent $995 MIBOR
• 2026-03-07 Rental Removed $995 MIBOR
• 2026-03-05 Price Changed $134,900 MIBOR as Distributed by MLS Grid
• 2026-02-12 Price Changed $139,900 MIBOR as Distributed by MLS Grid
• 2026-01-21 Price Changed $145,000 MIBOR as Distributed by MLS Grid
• 2026-01-17 Price Changed $995 MIBOR
• 2026-01-02 Relisted — MIBOR as Distributed by MLS Grid
• 2026-01-02 Price Changed $149,900 MIBOR as Distributed by MLS Grid
• 2025-12-18 Price Changed $1,095 MIBOR
• 2025-12-09 Listing Removed — MIBOR as Distributed by MLS Grid
• 2025-12-04 Price Changed $119,900 MIBOR as Distributed by MLS Grid
• 2025-12-03 Listed for Rent $1,150 MIBOR
• 2025-11-22 Listing Removed — MIBOR as Distributed by MLS Grid
• 2025-11-21 Relisted — MIBOR as Distributed by MLS Grid
• 2025-11-20 Listed $149,900 MIBOR as Distributed by MLS Grid
• 2025-11-19 Listing Removed — MIBOR as Distributed by MLS Grid
• 2025-11-06 Price Changed $154,900 MIBOR as Distributed by MLS Grid
• 2025-10-23 Price Changed $159,900 MIBOR as Distributed by MLS Grid
• 2025-10-15 Price Changed $164,900 MIBOR as Distributed by MLS Grid
• 2025-10-10 Price Changed $167,500 MIBOR as Distributed by MLS Grid
• 2025-10-02 Price Changed $168,900 MIBOR as Distributed by MLS Grid
• 2025-09-26 Price Changed $169,900 MIBOR as Distributed by MLS Grid
• 2025-09-21 Listed $174,900 MIBOR as Distributed by MLS Grid
• 2007-10-30 Listed $15,000 MIBOR as Distributed by MLS Grid
• 2007-10-30 Sold (MLS) $10,000 MIBOR as Distributed by MLS Grid
• 2007-02-19 Listing Removed — MIBOR as Distributed by MLS Grid
• 2006-08-19 Listed $30,000 MIBOR as Distributed by MLS Grid
• 2006-06-23 Listing Removed — MIBOR as Distributed by MLS Grid
• 2006-05-19 Sold (MLS) $13,900 MIBOR as Distributed by MLS Grid
• 2006-02-24 Listed $14,900 MIBOR as Distributed by MLS Grid
• 2005-09-30 Listed $19,900 MIBOR as Distributed by MLS Grid

Property tax history

+15.1%/yr

Latest (2025): $2,798 · +54.0% YoY. Source: county tax records.