9783 Kingscross Ct · Indianapolis city (balance), IN 46235

$45,000

2 bd · 1.0 ba · 2,000 sqft · Condo · 126 Days on market

Built 1973 $22/sqft · 83% below area $250/mo HOA · 15% of rent ↓ 49% since listing

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• 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

Income producing 2 bedroom 1 bath condo currently tenant occupied and ready for an investor seeking immediate rental income. This unit features a functional floor plan with a private patio and an attached garage. The unit was rehabbed prior to the current tenant moving in and has been maintained during tenancy. Located within an established condominium association. CASH ONLY DEAL

Key facts

• Attached garage
• Private patio
• Rehabbed unit

Tags

• PRIVATE PATIO
• FUNCTIONAL FLOOR PLAN
• ATTACHED GARAGE
• REHABBED UNIT

🏷️ Possibly a rental listed for sale. The $45,000 price doesn't fit this home's estimated sale value (~$272,390) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $45k.

Deal economics

• At list price, monthly cash flow is $662 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $45k).
• Recommended offer: $40k (12.0% below list) — sets the bar for market timing.
• Cap rate 23.9% 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 (+2.6%/yr); 54 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals at typical pace (median 16d 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 ($59k/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 $311 of loan paydown is wiped out by about $1k 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 + 2.6% rent growth), your $13k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 126 days — a 12% lower offer ($40k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 3y ago; this cycle's ask has dropped $35k (44%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: property tax is 3.2% of price.

Recommended offer $39,600 (12.0% below list)

Questions for the listing agent

1. It's been on market 126 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1973 — 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. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
5. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. 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.
9. 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.
10. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 3.62% ✓
• Cap rate: 23.95%
• Cash-on-cash: 63.05%
• DSCR: 3.81
• GRM: 2.3

CMA / ARV

• ARV (median comp): $272,390
• List price: $45,000
• Delta: -83.48%
• Verdict: UNDERPRICED
• Comps: 3 within 2.0 mi

Projected returns pro-forma

-3.0% appreciation · 2.56% rent growth · sell at horizon

5-year hold

• IRR: 61.6%
• Equity multiple: 3.73×
• Total profit: $34,373
• Equity at exit: $6,710

10-year hold

• IRR: 66.0%
• Equity multiple: 7.52×
• Total profit: $82,189
• Equity at exit: $3,891

Cash invested: $12,600 (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 46235

• Home prices YoY: -4.3%
• Rents YoY: 2.6%
• Active inventory: 54
• Price-to-rent: 2.3×

Monthly cashflow live

• Estimated rent: $1,630 high
• Mortgage (P&I): −$236
• Tax from tax record: −$121 /mo · $1,449/yr
• Insurance: −$19
• HOA: −$250
• Vacancy / Maint / Mgmt: −$342
• Net cashflow: $662

Break-even live

Break-even rent $792

Max offer price $45,000

Occupancy floor 54%

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: $11,250
• Closing costs: $1,350
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3722 Ireland Dr Indianapolis, IN	3.0	2.0	1682	$1,700	$1.01	43d	1	0.38mi
9634 Meadowlark Dr Indianapolis, IN	3.0	1.5	1546	$1,550	$1.00	16d	1	0.89mi
8914 Elmonte Dr Indianapolis, IN	3.0	1.5	1500	$1,600	$1.07	23d	1	0.92mi
8738 Montery Rd Indianapolis, IN	3.0	1.0	1421	$1,396	$0.98	7d	1	1.05mi
3661 Cedar Pine Pl Indianapolis, IN	3.0	3.0	1668	$1,701	$1.02	7d	1	1.06mi

HOA detail condo

• Monthly dues: $250 · $3,000/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 13 events

1. 2026-05-16
   status Pending 382-char remark

   Show marketing remark (382 chars)

   Income producing 2 bedroom 1 bath condo currently tenant occupied and ready for an investor seeking immediate rental income. This unit features a functional floor plan with a private patio and an attached garage. The unit was rehabbed prior to the current tenant moving in and has been maintained during tenancy. Located within an established condominium association. CASH ONLY DEAL

2. 2026-05-14
   price $45,000 382-char remark

   Show marketing remark (382 chars)

   Income producing 2 bedroom 1 bath condo currently tenant occupied and ready for an investor seeking immediate rental income. This unit features a functional floor plan with a private patio and an attached garage. The unit was rehabbed prior to the current tenant moving in and has been maintained during tenancy. Located within an established condominium association. CASH ONLY DEAL

3. 2026-05-14
   status Active 382-char remark

   Show marketing remark (382 chars)

   Income producing 2 bedroom 1 bath condo currently tenant occupied and ready for an investor seeking immediate rental income. This unit features a functional floor plan with a private patio and an attached garage. The unit was rehabbed prior to the current tenant moving in and has been maintained during tenancy. Located within an established condominium association. CASH ONLY DEAL

4. 2026-05-13
   historical 382-char remark

   Show marketing remark (382 chars)

   Income producing 2 bedroom 1 bath condo currently tenant occupied and ready for an investor seeking immediate rental income. This unit features a functional floor plan with a private patio and an attached garage. The unit was rehabbed prior to the current tenant moving in and has been maintained during tenancy. Located within an established condominium association. CASH ONLY DEAL

5. 2026-04-28
   status Active 382-char remark

   Show marketing remark (382 chars)

   Income producing 2 bedroom 1 bath condo currently tenant occupied and ready for an investor seeking immediate rental income. This unit features a functional floor plan with a private patio and an attached garage. The unit was rehabbed prior to the current tenant moving in and has been maintained during tenancy. Located within an established condominium association. CASH ONLY DEAL

6. 2026-04-09
   status Pending 382-char remark

   Show marketing remark (382 chars)

   Income producing 2 bedroom 1 bath condo currently tenant occupied and ready for an investor seeking immediate rental income. This unit features a functional floor plan with a private patio and an attached garage. The unit was rehabbed prior to the current tenant moving in and has been maintained during tenancy. Located within an established condominium association. CASH ONLY DEAL

7. 2026-03-11
   price $65,000 382-char remark

   Show marketing remark (382 chars)

   Income producing 2 bedroom 1 bath condo currently tenant occupied and ready for an investor seeking immediate rental income. This unit features a functional floor plan with a private patio and an attached garage. The unit was rehabbed prior to the current tenant moving in and has been maintained during tenancy. Located within an established condominium association. CASH ONLY DEAL

8. 2025-12-20
   listed $80,000 Active 382-char remark

   Show marketing remark (382 chars)

   Income producing 2 bedroom 1 bath condo currently tenant occupied and ready for an investor seeking immediate rental income. This unit features a functional floor plan with a private patio and an attached garage. The unit was rehabbed prior to the current tenant moving in and has been maintained during tenancy. Located within an established condominium association. CASH ONLY DEAL

9. 2024-01-05
   soldstatus $70,000 Closed 131-char remark

   Show marketing remark (131 chars)

   Great for first time homebuyer or investor, Two Bedroom and One Bath Condo being sold "as-is" with new carpet throughout.

10. 2023-12-29
    status Pending 131-char remark

    Show marketing remark (131 chars)

    Great for first time homebuyer or investor, Two Bedroom and One Bath Condo being sold "as-is" with new carpet throughout.

11. 2023-11-06
    price $79,500 131-char remark

    Show marketing remark (131 chars)

    Great for first time homebuyer or investor, Two Bedroom and One Bath Condo being sold "as-is" with new carpet throughout.

12. 2023-10-09
    price $86,500 131-char remark

    Show marketing remark (131 chars)

    Great for first time homebuyer or investor, Two Bedroom and One Bath Condo being sold "as-is" with new carpet throughout.

13. 2023-09-25
    listed $89,000 Active 131-char remark

    Show marketing remark (131 chars)

    Great for first time homebuyer or investor, Two Bedroom and One Bath Condo being sold "as-is" with new carpet throughout.

ⓘ 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: $1,449 · $121/mo
• Projected year-2 tax: $1,449 · $121/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 (shaded) · 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: $19,558
• − Mortgage interest: −$2,521
• − Property taxes: −$1,449
• − Insurance: −$225
• − Repairs & maintenance: −$1,565
• − Management: −$1,565
• − HOA: −$3,000
• − Depreciation: −$1,309
• Taxable income: $7,924
• Est. tax owed @ 24.0%: −$1,902
• After-tax cash flow: $6,043/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): 36,317
• Household income: $58,951
• Rent vs Own: 46.5% rent · 53.5% own
• Severe rent burden: 1901.0

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 57% White 18% Hispanic / Latino 17% Two or more races 11%
• Hispanic origin (detail): Mexican 11% Puerto Rican 2%
• Common ancestry: Hispanic 3% Slovak 1% Romanian 1%
• Foreign-born: 11% · Canada
• Languages at home: 80% English-only · Spanish 15% French/Haitian/Cajun 4%

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: ▼ -12.41%
• Current HPI: 275.1505
• Rent YoY: ▲ 2.56%
• 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

-49.4% since first listed

13 events — show timeline

• 2026-05-16 Pending — MIBOR as Distributed by MLS Grid
• 2026-05-14 Price Changed $45,000 MIBOR as Distributed by MLS Grid
• 2026-05-14 Relisted — MIBOR as Distributed by MLS Grid
• 2026-05-13 Listing Removed — MIBOR as Distributed by MLS Grid
• 2026-04-28 Relisted — MIBOR as Distributed by MLS Grid
• 2026-04-09 Pending — MIBOR as Distributed by MLS Grid
• 2026-03-11 Price Changed $65,000 MIBOR as Distributed by MLS Grid
• 2025-12-20 Listed $80,000 MIBOR as Distributed by MLS Grid
• 2024-01-05 Sold (MLS) $70,000 MIBOR as Distributed by MLS Grid
• 2023-12-29 Pending — MIBOR as Distributed by MLS Grid
• 2023-11-06 Price Changed $79,500 MIBOR as Distributed by MLS Grid
• 2023-10-09 Price Changed $86,500 MIBOR as Distributed by MLS Grid
• 2023-09-25 Listed $89,000 MIBOR as Distributed by MLS Grid

Property tax history

+15.8%/yr

Latest (2025): $1,449 · +96.1% YoY. Source: county tax records.